Fisher Asset Management, LLC Q2 2025 Filing

Filed August 13, 2025

Portfolio Value

$251.9B

Holdings

986

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (986 positions)

#	Stock	Shares	Value	% Portfolio
1	NVDANVIDIA CORP COM	82,511,422	$13.0B	5.18%
2	MSFTMICROSOFT CORP	24,297,369	$12.1B	4.80%
3	AAPLAPPLE INC	53,555,986	$11.0B	4.36%
4	VCITVANGUARD FDS INT-TERM CORP	102,253,864	$8.5B	3.37%
5	AMZNAMAZON COM INC COM	32,482,019	$7.1B	2.83%
6	GOOGLALPHABET INC CLASS A	36,685,062	$6.5B	2.57%
7	IEFISHARES TR 7 10YR TR BD ETF	57,650,891	$5.5B	2.19%
8	METAMETA PLATFORMS INC CL A	6,356,667	$4.7B	1.86%
9	GSGOLDMAN SACHS GROUP INC	6,539,746	$4.6B	1.84%
10	JPMJPMORGAN CHASE & CO.	15,375,410	$4.5B	1.77%
11	SAPSAP SE ADR	14,157,321	$4.3B	1.71%
12	TSMTAIWAN SEMICONDUCTOR MFG L ADR	17,664,956	$4.0B	1.59%
13	WMTWALMART INC	39,664,412	$3.9B	1.54%
14	CATCATERPILLAR INC	9,418,321	$3.7B	1.45%
15	HDHOME DEPOT INC	9,933,082	$3.6B	1.45%
16	AVGOBROADCOM INC COM	12,374,445	$3.4B	1.35%
17	ASMLASML HOLDING N V NYS	4,244,254	$3.4B	1.35%
18	DWDMORGAN STANLEY	24,045,186	$3.4B	1.34%
19	LLYELI LILLY & CO	4,302,467	$3.4B	1.33%
20	XOMEXXON MOBIL CORP	30,853,708	$3.3B	1.32%
21	COSTCOSTCO WHSL CORP NEW	3,110,415	$3.1B	1.22%
22	RTXRTX CORPORATION COM	20,599,190	$3.0B	1.19%
23	CVXCHEVRON CORP NEW	20,826,805	$3.0B	1.18%
24	AXPAMERICAN EXPRESS CO	8,734,960	$2.8B	1.11%
25	TRVCCITIGROUP INC	32,161,457	$2.7B	1.09%
26	NFLXNETFLIX INC COM	2,019,418	$2.7B	1.07%
27	FCXFREEPORT-MCMORAN INC	62,358,715	$2.7B	1.07%
28	SONYSONY GROUP CORP ADR	101,878,066	$2.7B	1.05%
29	VVISA INC	7,260,321	$2.6B	1.02%
30	BACBANK AMERICA CORP	51,405,673	$2.4B	0.97%
31	MAMASTERCARD INCORPORATED	4,249,922	$2.4B	0.95%
32	INTUINTUIT	2,772,454	$2.2B	0.87%
33	ISRGINTUITIVE SURGICAL INC	3,848,737	$2.1B	0.83%
34	BLKBLACKROCK INC COM	1,966,303	$2.1B	0.82%
35	MBBISHARES TR MBS ETF	21,297,627	$2.0B	0.79%
36	MRKMERCK & CO INC	25,013,697	$2.0B	0.79%
37	UBSUBS GROUP AG	58,424,089	$2.0B	0.78%
38	SCHWSCHWAB CHARLES CORP COM	21,376,690	$2.0B	0.77%
39	ORCLORACLE CORP	8,887,747	$1.9B	0.77%
40	BPBP PLC SPONSORED ADR ADR	64,436,996	$1.9B	0.77%
41	SPOTSPOTIFY TECHNOLOGY S A	2,489,013	$1.9B	0.76%
42	SHELSHELL PLC ADR	26,392,845	$1.9B	0.74%
43	ADBEADOBE INC	4,567,817	$1.8B	0.70%
44	JCIJOHNSON CTLS INTL PLC SHS	16,604,983	$1.8B	0.70%
45	PGPROCTER AND GAMBLE CO	10,967,513	$1.7B	0.69%
46	NOWSERVICENOW INC	1,636,288	$1.7B	0.67%
47	COFCAPITAL ONE FINL CORP	7,653,681	$1.6B	0.65%
48	UNHUNITEDHEALTH GROUP INC	5,213,472	$1.6B	0.65%
49	ABTABBOTT LABS	11,862,823	$1.6B	0.64%
50	BCSBARCLAYS PLC ADR	83,062,892	$1.5B	0.61%
51	SPTLSPDR BLOOMBERG BRCLYS LG TRS E	57,950,223	$1.5B	0.61%
52	CRCCANADIAN NAT RES LTD	47,939,585	$1.5B	0.60%
53	UNPUNION PAC CORP	6,398,715	$1.5B	0.58%
54	AZNASTRAZENECA PLC ADR	20,695,979	$1.4B	0.57%
55	SYKSTRYKER CORPORATION	3,450,236	$1.4B	0.54%
56	INGING GROEP N.V. ADR	60,893,207	$1.3B	0.53%
57	ULUNILEVER PLC ADR	21,578,648	$1.3B	0.52%
58	DEDEERE & CO	2,580,228	$1.3B	0.52%
59	COPCONOCOPHILLIPS	14,393,875	$1.3B	0.51%
60	JNJJOHNSON & JOHNSON	8,272,472	$1.3B	0.50%
61	TTENTOTALENERGIES SE ADR ADR	20,486,665	$1.3B	0.50%
62	MUFGMITSUBISHI UFJ FINL GROUP ADR	89,513,174	$1.2B	0.49%
63	GSKGSK PLC SPONSORED ADR ADR	31,338,405	$1.2B	0.48%
64	TMTOYOTA MOTOR CORP ADR	6,827,634	$1.2B	0.47%
65	PFEPFIZER INC	48,390,268	$1.2B	0.47%
66	CRMSALESFORCE INC	4,227,039	$1.2B	0.46%
67	EUFNISHARES MSCI EUROPE FN ETF	35,345,109	$1.1B	0.44%
68	BABOEING CO	5,327,443	$1.1B	0.44%
69	CARRCARRIER GLOBAL CORPORATION	15,048,555	$1.1B	0.44%
70	BHPBHP GROUP LTD SPONSORED AD ADR	22,842,252	$1.1B	0.44%
71	SBUXSTARBUCKS CORP	11,919,980	$1.1B	0.43%
72	TMOTHERMO FISHER SCIENTIFIC INC	2,689,803	$1.1B	0.43%
73	RIORIO TINTO PLC ADR	18,562,934	$1.1B	0.43%
74	CMICUMMINS INC	3,275,045	$1.1B	0.43%
75	PEPPEPSICO INC COM	7,956,402	$1.1B	0.42%
76	HBC2HSBC HLDGS PLC SPON ADR NE ADR	17,043,371	$1.0B	0.41%
77	SANBANCO SANTANDER S.A. ADR	117,592,077	$976.0M	0.39%
78	MUBISHARES NATIONAL MUNI BOND ETF	8,914,935	$931.4M	0.37%
79	ITWILLINOIS TOOL WKS INC	3,595,146	$888.9M	0.35%
80	TTTRANE TECHNOLOGIES PLC	1,998,440	$874.1M	0.35%
81	VOOVANGUARD S&P 500 ETF	1,521,821	$864.4M	0.34%
82	NVSNNOVARTIS A G SPONSORED ADR ADR	7,121,414	$861.8M	0.34%
83	DHRDANAHER CORP DEL COM	4,340,636	$857.4M	0.34%
84	BSXBOSTON SCIENTIFIC CORP	7,705,384	$827.6M	0.33%
85	CSXCSX CORP	25,272,260	$824.6M	0.33%
86	NDQINVESCO QQQ TRUST SERIES 1	1,448,522	$799.1M	0.32%
87	NVONOVO-NORDISK A S ADR	11,000,916	$759.3M	0.30%
88	RYROYAL BK CDA	5,723,581	$752.9M	0.30%
89	DBDEUTSCHE BANK A G GRS	25,471,401	$745.8M	0.30%
90	BUDANHEUSER BUSCH INBEV SA/NV ADR	10,663,933	$732.8M	0.29%
91	EMREMERSON ELEC CO	5,193,448	$692.4M	0.27%
92	BBVABANCO BILBAO VIZCAYA ARGEN ADR	41,422,112	$636.7M	0.25%
93	SNYSANOFI ADR	13,135,366	$634.6M	0.25%
94	LYGLLOYDS BANKING GROUP PLC ADR	148,828,623	$632.5M	0.25%
95	BABAALIBABA GROUP HLDG LTD ADR	5,267,441	$597.4M	0.24%
96	IXJISHARES GLOBAL HEALTH CARE ETF	6,903,794	$594.3M	0.24%
97	IRINGERSOLL RAND INC	6,913,924	$575.1M	0.23%
98	8CWCROWN CASTLE INC COM	5,349,349	$549.5M	0.22%
99	NWGNATWEST GROUP PLC ADR	37,531,392	$531.1M	0.21%
100	VEAVANGUARD FTSE DEVELOPED MKT	9,282,597	$529.2M	0.21%

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