Institutional Manager · CIK 0001006407

FISHMAN JAY A LTD/MI

TROY, MI · File #028-05212

Latest AUM

$1.22B

Positions

Top-10 Concentration

70.4%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
ADD	QXO INC COM NEW	QXO-PB	+309,900	+$6.0M	+$126,027
REDUCE	APPLE INC COM	AAPL	-16,594	-$4.5M	+$16.2M
REDUCE	WHIRLPOOL CORP COM	WHR-PA	-54,145	-$3.9M	-$884,129
ADD	META PLATFORMS INC CL A	META	+2,704	+$1.8M	-$6.3M
NEW	ENCOMPASS HEALTH CORP COM	EHC	+13,830	+$1.5M	$0
ADD	ELI LILLY & CO COM	LLY	+1,344	+$1.4M	+$8.4M
NEW	UBER TECHNOLOGIES INC COM	UBER	+14,225	+$1.2M	$0
REDUCE	ALPHABET INC CAP STK CL A	GOOG	-3,525	-$1.1M	+$27.5M
REDUCE	BLACKSTONE INC COM	BX	-6,690	-$1.0M	-$6.1M
REDUCE	HONEYWELL INTL INC COM	438516106	-4,414	-$861,127	-$127,780

Sector Allocation

Technology

31.8%$386.1M

Consumer Discretionary

9.8%$119.6M

Financials

9.3%$113.7M

Healthcare

8.8%$107.5M

Industrials

7.3%$88.5M

Communication Services

7.1%$86.0M

Utilities

1.6%$19.1M

Materials

0.3%$4.2M

Consumer Staples

0.1%$832,598

Filing History

Jan 28, 202613F HOLDINGS REPORTQ/E Dec 202581 pos · $1.22B
Nov 5, 202513F HOLDINGS REPORTQ/E Sep 202581 pos · $1.17B
Jul 22, 202513F HOLDINGS REPORTQ/E Jun 202579 pos · $1.04B
Apr 22, 202513F HOLDINGS REPORTQ/E Mar 202581 pos · $915.6M
Jan 29, 202513F HOLDINGS REPORTQ/E Dec 202485 pos · $1.07B
Oct 30, 202413F HOLDINGS REPORTQ/E Sep 202485 pos · $1.01B
Aug 5, 202413F HOLDINGS REPORT (Amended)Q/E Jun 202486 pos · $949.0M
Jul 31, 202413F HOLDINGS REPORTQ/E Jun 202486 pos · $949.0M
Apr 23, 202413F HOLDINGS REPORTQ/E Mar 202490 pos · $905.1M
Nov 13, 202313F HOLDINGS REPORTQ/E Dec 202396 pos · $789.8M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	APPLE INC COM	AAPL	925,730	$251.7M	20.97%
2	ALPHABET INC CAP STK CL A	GOOG	390,412	$122.2M	10.18%
3	AMAZON COM INC COM	AMZN	428,968	$99.0M	8.25%
4	MICROSOFT CORP COM	MSFT	150,287	$72.7M	6.06%
5	NVIDIA CORPORATION COM	NVDA	314,984	$58.7M	4.89%
6	META PLATFORMS INC CL A	META	87,552	$57.8M	4.82%
7	BLACKSTONE INC COM	BX	358,762	$55.3M	4.61%
8	JPMORGAN CHASE & CO. COM	VYLD	156,679	$50.5M	4.21%
9	XPO INC COM	XPO	298,337	$40.5M	3.38%
10	VISA INC COM CL A	V	103,974	$36.5M	3.04%
11	ELI LILLY & CO COM	LLY	28,139	$30.2M	2.52%
12	VERTIV HOLDINGS CO COM CL A	VRT	179,145	$29.0M	2.42%
13	REDDIT INC	RDDT	122,576	$28.2M	2.35%
14	STRYKER CORPORATION COM	SYK	75,342	$26.5M	2.21%
15	CONSTELLATION ENERGY CORP COM	CEG	53,974	$19.1M	1.59%
16	HOME DEPOT INC COM	HD	51,589	$17.8M	1.48%
17	AMERICAN EXPRESS CO COM	AXP	46,801	$17.3M	1.44%
18	TITAN INTL INC ILL COM	KMCM	2,142,884	$16.8M	1.40%
19	QXO INC COM NEW	QXO-PB	857,840	$16.5M	1.38%
20	ARCUTIS BIOTHERAPEUTICS INC COM	ARQT	564,650	$16.4M	1.37%