Fisher Funds Management LTD — 13F Holdings & Portfolio
CIK 1435028 · latest 13F-HR filed 2026-10-13
Fisher Funds Management LTD manages $3.44B in 13F-reported U.S. long-equity assets across 170 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are MSFT (6.25%), NVDA (6.09%), AAPL (4.32%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 8 new positions and exited 12; 82 existing positions rose in reported value and 60 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
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AUM
$3.44B
Long-equity book
Holdings
170
Distinct positions
Period
2026-09-30
Filed 2026-10-13
Q/Q Activity
+8 / −12 / ↑82 / ↓60
vs 2026-06-30
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q3 26MSFT6.2% · -26%NVDA6.1% · +11%AAPL4.3% · +40%AMZN3.9% · -11%GOOGL3.8% · -0%META3.2% · -14%AVGO2.4% · +42%NEE2.1% · +65%JPM1.8% · +21%WMB1.6% · +28%AJG1.6% · +31%SPGI1.6% · +89%V1.5% · +19%TSM1.4% · +58%AXP1.4% · +59%MA1.3% · -53%LLY1.3% · +157%WBD1.2% · +53%KKR1.2% · +40%TRGP1.2% · +100%ISRG1.1% · -22%MU1.1% · -15%UBER1.1% · -22%MELI1.0% · -44%DHR1.0% · -46%HUM1.0% · +8%MLM1.0% · +119%NFLX0.9% · -34%JNJ0.9% · +8%ASML0.9% · -35%FERG0.9% · -1%PAC0.8% · +68%TYL0.8% · +251%ABBV0.8% · +9%BRK.B0.8% · +6%EQIX0.8% · +21%GOOG0.8% · +25%DXCM0.8% · -64%TW0.7% · -16%CRM0.7% · -18%PGR0.7% · -22%CP0.7% · 0%MRK0.7% · +9%AMT0.7% · -12%NU0.7% · newFND0.7% · -53%CMS0.6% · -18%INTC0.6% · -5%CSCO0.6% · -17%KMI0.6% · -28%AMAT0.5% · -10%UNH0.5% · +9%EW0.5% · -47%BNY0.5% · newVZ0.5% · +9%NUE0.5% · +8%T0.5% · 0%CMG0.5% · newBSX0.5% · -62%HDB0.5% · +12%
Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q2 26 → Q3 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
4 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 35.4%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated Apr 2, 2026.
Assets Under Management
$386.67B
Discretionary
$386.67B
Employees
4,369
Accounts
422,516
Address
6500 INTERNATIONAL PKWY
STE 2050
PLANO, TX 75093-8222
STE 2050
PLANO, TX 75093-8222
Phone
(800) 851-8845
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| FISHER INVESTMENTS, INC. Control | MEMBER since Apr 2005 | 50–75% | Domestic Entity |
| FISHER, KENNETH, LAWRENCE Control | EXECUTIVE CHAIRMAN, CHAIRMAN BOARD OF MANAGERS, CO-CHIEF INVESTMENT OFFICER, INVESTMENT POLICY COMMITTEE since May 1979 | Less than 5% | Individual |
| MUSSAFER, DAVID, MARKS Control | BOARD OF MANAGERS since Jan 2025 | Less than 5% | Individual |
| ORNANI, DAMIAN, DAVID Control | CHIEF EXECUTIVE OFFICER, BOARD OF MANAGERS since Jul 2016 | 10–25% | Individual |
| BLACK HOOK C 2024 LLC | MEMBER since Jan 2025 | 5–10% | Domestic Entity |
| FIJI BIDCO, INC. | MEMBER since Jan 2025 | 10–25% | Domestic Entity |
| FISHEL, THOMAS, CHAPMAN | CHIEF COMPLIANCE OFFICER since Jan 2005 | Less than 5% | Individual |
| 24FBFS GP, S.A.R.L. Control Indirect owner via 24FBFS SCSP | GENERAL PARTNER since Jan 2025 | General partner, trustee or manager | Foreign Entity |
| 24FBFS SCSP Control Indirect owner via FIJI BIDCO, INC. | SHAREHOLDER since Jan 2025 | 50–75% | Foreign Entity |
| ABU DHABI INVESTMENT AUTHORITY Control Indirect owner via PLATINUM INTERNATIONAL INVESTMENT | SHAREHOLDER since Nov 2017 | 75% or more | Foreign Entity |
| ADVENT INTERNATIONAL GPE X Control Indirect owner via FIJI AGGREGATOR, LP | LIMITED PARTNER since Jan 2025 | 75% or more | Foreign Entity |
| FIJI AGGREGATOR GP, LLC Control Indirect owner via FIJI AGGREGATOR, LP | GENERAL PARTNER since Jan 2025 | General partner, trustee or manager | Domestic Entity |
| FIJI AGGREGATOR, LP Control Indirect owner via FIJI BIDCO, INC. | SHAREHOLDER since Jan 2025 | 25–50% | Domestic Entity |
| FISHER, KENNETH, LAWRENCE Control Indirect owner via FISHER INVESTMENTS, INC. | SHAREHOLDER since Dec 1986 | 75% or more | Individual |
| PLATINUM FALCON B 2018 RSC LIMITED Control Indirect owner via BLACK HOOK C 2024 LLC | MEMBER since Jun 2024 | 75% or more | Foreign Entity |
| PLATINUM INTERNATIONAL INVESTMENT Control Indirect owner via PLATINUM FALCON B 2018 RSC LIMITED | SHAREHOLDER since Jan 2018 | 75% or more | Foreign Entity |
Ownership & leadership changes · 11 filings with changes since Mar 23, 2012
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
Feb 11, 2026 filing
- No longer listedFISHER, SHERRILYN · CO-TRUSTEE · 75% or more · indirect via FISHER INVESTMENTS, INC. · control person · listed since Dec 1986
- No longer listedKENNETH L. FISHER AND SHERRILYN A. FISHER FAMILY TRUST AGREEMENT · SHAREHOLDER · 75% or more · indirect via FISHER INVESTMENTS, INC. · control person · listed since Dec 2012
- ChangedFISHER, KENNETH, LAWRENCE · indirect via FISHER INVESTMENTS, INC.: title CO-TRUSTEE → SHAREHOLDER
Feb 5, 2025 filing
- No longer listedFISHER, NATHAN, C · BOARD OF MANAGERS · Less than 5% · control person · listed since Jun 2013
- No longer listedSILK, JEFFERY, LEE · VICE CHAIRMAN, CO-CHIEF INVESTMENT OFFICER, INVESTMENT POLICY COMMITTEE · Less than 5% · listed since Dec 1988
- Added24FBFS GP, S.A.R.L. · GENERAL PARTNER · General partner, trustee or manager · indirect via 24FBFS SCSP · control person
- Added24FBFS SCSP · SHAREHOLDER · 50–75% · indirect via FIJI BIDCO, INC. · control person
- AddedABU DHABI INVESTMENT AUTHORITY · SHAREHOLDER · 75% or more · indirect via PLATINUM INTERNATIONAL INVESTMENT · control person
- AddedADVENT INTERNATIONAL GPE X · LIMITED PARTNER · 75% or more · indirect via FIJI AGGREGATOR, LP · control person
- AddedBLACK HOOK C 2024 LLC · MEMBER · 5–10%
- AddedFIJI AGGREGATOR GP, LLC · GENERAL PARTNER · General partner, trustee or manager · indirect via FIJI AGGREGATOR, LP · control person
- AddedFIJI AGGREGATOR, LP · SHAREHOLDER · 25–50% · indirect via FIJI BIDCO, INC. · control person
- AddedFIJI BIDCO, INC. · MEMBER · 10–25%
- AddedMUSSAFER, DAVID, MARKS · BOARD OF MANAGERS · Less than 5% · control person
- AddedPLATINUM FALCON B 2018 RSC LIMITED · MEMBER · 75% or more · indirect via BLACK HOOK C 2024 LLC · control person
- AddedPLATINUM INTERNATIONAL INVESTMENT · SHAREHOLDER · 75% or more · indirect via PLATINUM FALCON B 2018 RSC LIMITED · control person
- ChangedFISHER INVESTMENTS, INC. · ownership 75% or more → 50–75%
Jul 21, 2021 filing
- No longer listedTRIPLETT, STEVEN, ROBERT · CHIEF OPERATING OFFICER, BOARD OF MANAGERS · Less than 5% · control person · listed since Dec 2001
- ChangedSILK, JEFFERY, LEE · title VICE CHAIRMAN, BOARD OF MANAGERS, CO-CHIEF INVESTMENT OFFICER, INVESTMENT POLICY COMMITTEE → VICE CHAIRMAN, CO-CHIEF INVESTMENT OFFICER, INVESTMENT POLICY COMMITTEE; no longer a control person
Mar 26, 2021 filing
- ChangedSILK, JEFFERY, LEE · title VICE CHAIRMAN, VICE CHAIRMAN BOARD OF MANAGERS, CO-CHIEF INVESTMENT OFFICER, INVESTMENT POLICY COMMITTEE → VICE CHAIRMAN, BOARD OF MANAGERS, CO-CHIEF INVESTMENT OFFICER, INVESTMENT POLICY COMMITTEE
Mar 23, 2020 filing
- AddedFISHER, SHERRILYN · CO-TRUSTEE · 75% or more · indirect via FISHER INVESTMENTS, INC. · control person
- AddedKENNETH L. FISHER AND SHERRILYN A. FISHER FAMILY TRUST AGREEMENT · SHAREHOLDER · 75% or more · indirect via FISHER INVESTMENTS, INC. · control person
- ChangedFISHER, KENNETH, LAWRENCE · indirect via FISHER INVESTMENTS, INC.: title SHAREHOLDER → CO-TRUSTEE
Mar 5, 2018 filing
- ChangedORNANI, DAMIAN, DAVID · ownership 5–10% → 10–25%
Jul 14, 2017 filing
- ChangedORNANI, DAMIAN, DAVID · ownership Less than 5% → 5–10%
Jul 29, 2016 filing
- ChangedFISHER, KENNETH, LAWRENCE · title CEO, CHAIRMAN BOARD OF MANAGERS, CO-CIO, INVESTMENT POLICY COMMITTEE → EXECUTIVE CHAIRMAN, CHAIRMAN BOARD OF MANAGERS, CO-CHIEF INVESTMENT OFFICER, INVESTMENT POLICY COMMITTEE
- ChangedFISHER, KENNETH, LAWRENCE · indirect via FISHER INVESTMENTS, INC.: title CHAIRMAN AND CHIEF EXECUTIVE OFFICER → SHAREHOLDER
- ChangedORNANI, DAMIAN, DAVID · title PRESIDENT, CLIENT ACQUISITION AND SERVICE, BOARD OF MANAGERS → CHIEF EXECUTIVE OFFICER, BOARD OF MANAGERS
- ChangedSILK, JEFFERY, LEE · title VICE CHAIRMAN, VICE CHAIRMAN BOARD OF MANAGERS, CO-CIO, INVESTMENT POLICY COMMITTEE → VICE CHAIRMAN, VICE CHAIRMAN BOARD OF MANAGERS, CO-CHIEF INVESTMENT OFFICER, INVESTMENT POLICY COMMITTEE
Sep 26, 2013 filing
- AddedFISHER, NATHAN, C · BOARD OF MANAGERS · Less than 5% · control person
Jul 1, 2013 filing
- No longer listedTEUFEL, ANDREW, SEVERIN · VICE CHAIRMAN, BOARD OF MANAGERS, INVESTMENT POLICY COMMITTEE · Less than 5% · control person · listed since Dec 2001
Older changes (2 more filings)
Nov 9, 2012 filing
- ChangedFISHER, KENNETH, LAWRENCE · title CEO, CIO, CHAIRMAN BOARD OF MANAGERS, INVESTMENT POLICY COMMITTEE → CEO, CHAIRMAN BOARD OF MANAGERS, CO-CIO, INVESTMENT POLICY COMMITTEE
- ChangedORNANI, DAMIAN, DAVID · title CO-PRESIDENT, BOARD OF MANAGERS → PRESIDENT, CLIENT ACQUISITION AND SERVICE, BOARD OF MANAGERS
- ChangedSILK, JEFFERY, LEE · title VICE CHAIRMAN, VICE CHAIRMAN BOARD OF MANAGERS, INVESTMENT POLICY COMMITTEE → VICE CHAIRMAN, VICE CHAIRMAN BOARD OF MANAGERS, CO-CIO, INVESTMENT POLICY COMMITTEE
- ChangedTRIPLETT, STEVEN, ROBERT · title CO-PRESIDENT, BOARD OF MANAGERS → CHIEF OPERATING OFFICER, BOARD OF MANAGERS
Mar 23, 2012 filing (earliest on record)
- ListedFISHEL, THOMAS, CHAPMAN · CHIEF COMPLIANCE OFFICER · Less than 5%
- ListedFISHER INVESTMENTS, INC. · MEMBER · 75% or more · control person
- ListedFISHER, KENNETH, LAWRENCE · CEO, CIO, CHAIRMAN BOARD OF MANAGERS, INVESTMENT POLICY COMMITTEE · Less than 5% · control person
- ListedFISHER, KENNETH, LAWRENCE · CHAIRMAN AND CHIEF EXECUTIVE OFFICER · 75% or more · indirect via FISHER INVESTMENTS, INC. · control person
- ListedORNANI, DAMIAN, DAVID · CO-PRESIDENT, BOARD OF MANAGERS · Less than 5% · control person
- ListedSILK, JEFFERY, LEE · VICE CHAIRMAN, VICE CHAIRMAN BOARD OF MANAGERS, INVESTMENT POLICY COMMITTEE · Less than 5% · control person
- ListedTEUFEL, ANDREW, SEVERIN · VICE CHAIRMAN, BOARD OF MANAGERS, INVESTMENT POLICY COMMITTEE · Less than 5% · control person
- ListedTRIPLETT, STEVEN, ROBERT · CO-PRESIDENT, BOARD OF MANAGERS · Less than 5% · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- APPLE INC$56.2M +61.1%
- NVIDIA CORP$44.4M +27.0%
- ELI LILLY & CO$25.7M +148.2%
- S&P GLOBAL INC$24.1M +82.7%
- NEXTERA ENERGY INC$21.6M +42.2%
Top Trims
- MASTERCARD INCORPORATED-$44.6M -49.5%
- FLOOR & DECOR HLDGS INC-$40.6M -63.9%
- OLD DOMINION FREIGHT LINE IN-$32.6M -93.9%
- DEXCOM INC-$30.3M -53.5%
- BOSTON SCIENTIFIC CORP-$26.3M -61.2%
New Positions
- NU HLDGS LTD$23.0M
- CHIPOTLE MEXICAN GRILL INC$17.1M
- AMRIZE LTD$6.4M
- GE AEROSPACE$4.6M
- PEPSICO INC$3.2M
Exited Positions
- MSCI INC$46.6M
- ZOETIS INC$35.3M
- ICON PLC$26.0M
- CROWN CASTLE INC$18.5M
- ENTERPRISE PRODS PARTNERS L$9.4M
Fisher Funds Management LTD Holdings (2026-09-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | MICROSOFT CORP | MSFT | 594918104 | $214.7M | 6.25% | 418,545 | SH |
| 2 | NVIDIA CORP | NVDA | 67066G104 | $209.3M | 6.09% | 916,397 | SH |
| 3 | APPLE INC | AAPL | 037833100 | $148.3M | 4.32% | 445,414 | SH |
| 4 | AMAZON COM INC | AMZN | 023135106 | $132.8M | 3.86% | 532,922 | SH |
| 5 | ALPHABET INC | GOOGL | 02079K305 | $129.8M | 3.78% | 377,131 | SH |
| 6 | META PLATFORMS INC | META | 30303M102 | $111.2M | 3.23% | 153,287 | SH |
| 7 | AVAGO TECHNOLOGIES LTD | AVGO | 11135F101 | $83.3M | 2.42% | 237,245 | SH |
| 8 | NEXTERA ENERGY INC | NEE | 65339F101 | $72.8M | 2.12% | 960,670 | SH |
| 9 | JPMORGAN CHASE & CO | JPM | 46625H100 | $61.0M | 1.77% | 184,343 | SH |
| 10 | WILLIAMS COS INC | WMB | 969457100 | $54.4M | 1.58% | 800,657 | SH |
| 11 | GALLAGHER ARTHUR J & CO | AJG | 363576109 | $54.0M | 1.57% | 236,537 | SH |
| 12 | S&P GLOBAL INC | SPGI | 78409V104 | $53.3M | 1.55% | 135,041 | SH |
| 13 | VISA INC | V | 92826C839 | $50.8M | 1.48% | 141,297 | SH |
| 14 | TAIWAN SEMICONDUCTOR MANUFAC | TSM | 874039100 | $47.7M | 1.39% | 104,459 | SH |
| 15 | AMERICAN EXPRESS CO | AXP | 025816109 | $46.5M | 1.35% | 152,772 | SH |
| 16 | MASTERCARD INCORPORATED | MA | 57636Q104 | $45.5M | 1.32% | 82,547 | SH |
| 17 | ELI LILLY & CO | LLY | 532457108 | $43.0M | 1.25% | 37,181 | SH |
| 18 | WARNER BROS DISCOVERY INC | WBD | 934423104 | $42.7M | 1.24% | 1,380,132 | SH |
| 19 | KKR & CO INC | KKR | 48251W104 | $41.5M | 1.21% | 454,906 | SH |
| 20 | TARGA RES CORP | TRGP | 87612G101 | $40.5M | 1.18% | 149,969 | SH |
| 21 | INTUITIVE SURGICAL INC | ISRG | 46120E602 | $37.5M | 1.09% | 92,237 | SH |
| 22 | MICRON TECHNOLOGY INC | MU | 595112103 | $36.9M | 1.07% | 34,613 | SH |
| 23 | UBER TECHNOLOGIES INC | UBER | 90353T100 | $36.8M | 1.07% | 537,481 | SH |
| 24 | MERCADOLIBRE INC | MELI | 58733R102 | $35.1M | 1.02% | 20,316 | SH |
| 25 | DANAHER CORPORATION | DHR | 235851102 | $35.0M | 1.02% | 158,138 | SH |
| 26 | HUMANA INC | HUM | 444859102 | $34.0M | 0.99% | 88,947 | SH |
| 27 | MARTIN MARIETTA MATLS INC | MLM | 573284106 | $33.2M | 0.97% | 69,263 | SH |
| 28 | NETFLIX INC | NFLX | 64110L106 | $32.1M | 0.93% | 461,048 | SH |
| 29 | JOHNSON & JOHNSON | JNJ | 478160104 | $31.6M | 0.92% | 119,389 | SH |
| 30 | ASML HOLDING N V | ASML | N07059210 | $30.4M | 0.88% | 16,769 | SH |
| 31 | FERGUSON ENTERPRISES INC | FERG | 31488V107 | $29.6M | 0.86% | 133,042 | SH |
| 32 | GRUPO AEROPUERTO DEL PACIFIC | PAC | 400506101 | $29.1M | 0.85% | 141,734 | SH |
| 33 | TYLER TECHNOLOGIES INC | TYL | 902252105 | $28.8M | 0.84% | 90,468 | SH |
| 34 | ABBVIE INC | ABBV | 00287Y109 | $28.5M | 0.83% | 108,940 | SH |
| 35 | BERKSHIRE HATHAWAY INC DEL | BRK.B | 084670702 | $28.4M | 0.83% | 57,037 | SH |
| 36 | EQUINIX INC | EQIX | 29444U700 | $28.2M | 0.82% | 27,859 | SH |
| 37 | ALPHABET INC | GOOG | 02079K107 | $27.7M | 0.81% | 81,367 | SH |
| 38 | DEXCOM INC | DXCM | 252131107 | $26.3M | 0.77% | 304,933 | SH |
| 39 | TRADEWEB MKTS INC | TW | 892672106 | $25.4M | 0.74% | 251,863 | SH |
| 40 | SALESFORCE COM INC | CRM | 79466L302 | $25.3M | 0.74% | 110,362 | SH |
| 41 | PROGRESSIVE CORP OHIO | PGR | 743315103 | $24.7M | 0.72% | 119,088 | SH |
| 42 | CANADIAN PAC RY LTD | CP | 13646K108 | $24.3M | 0.71% | 285,288 | SH |
| 43 | MERCK & CO INC | MRK | 58933Y105 | $24.0M | 0.70% | 165,132 | SH |
| 44 | AMERICAN TOWER CORP NEW | AMT | 03027X100 | $23.8M | 0.69% | 145,417 | SH |
| 45 | NU HLDGS LTD | NU | G6683N103 | $23.0M | 0.67% | 1,813,176 | SH |
| 46 | FLOOR & DECOR HLDGS INC | FND | 339750101 | $22.9M | 0.67% | 500,584 | SH |
| 47 | CMS ENERGY CORP | CMS | 125896100 | $22.3M | 0.65% | 353,356 | SH |
| 48 | INTEL CORP | INTC | 458140100 | $22.1M | 0.64% | 183,971 | SH |
| 49 | CISCO SYS INC | CSCO | 17275R102 | $20.3M | 0.59% | 188,634 | SH |
| 50 | KINDER MORGAN INC DEL | KMI | 49456B101 | $19.4M | 0.56% | 642,536 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-09-30 | 2026-10-13 | $3.44B | 170 | 0001435028-26-000005 |
| 2026-06-30 | 2026-07-14 | $3.52B | 174 | 0001435028-26-000004 |
| 2026-03-31 | 2026-04-16 | $3.41B | 169 | 0001435028-26-000003 |
| 2025-12-31 | 2026-01-26 | $3.87B | 166 | 0001435028-26-000002 |
Filer Information
Address
PO BOX 33549TAKAPUNA
AUCKLAND, Q2 0622
Phone
(649) 445-3377
Filing Manager
Fisher Funds Management LTD
AUCKLAND, Q2
Signatory
Philip Tong
Senior Investment Risk and Compliance Analyst