Fisher Asset Management, LLC Q3 2025 Filing

Filed November 12, 2025

Portfolio Value

$276.3B

Holdings

1,014

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (1,014 positions)

#	Stock	Shares	Value	% Portfolio
1	NVDANVIDIA CORP COM	84,563,575	$15.8B	5.71%
2	AAPLAPPLE INC	54,442,459	$13.9B	5.02%
3	MSFTMICROSOFT CORP	24,842,396	$12.9B	4.66%
4	GOOGLALPHABET INC CLASS A	37,522,955	$9.1B	3.30%
5	IEFISHARES TR 7 10YR TR BD ETF	87,662,438	$8.5B	3.06%
6	AMZNAMAZON COM INC COM	33,103,688	$7.3B	2.63%
7	VCITVANGUARD FDS INTTERM CORP	80,637,353	$6.8B	2.45%
8	GSGOLDMAN SACHS GROUP INC	6,661,422	$5.3B	1.92%
9	TSMTAIWAN SEMICONDUCTOR MFG L ADR	17,833,127	$5.0B	1.80%
10	JPMJPMORGAN CHASE AND CO	15,722,443	$5.0B	1.79%
11	METAMETA PLATFORMS INC CL A	6,496,418	$4.8B	1.73%
12	CATCATERPILLAR INC	9,439,197	$4.5B	1.63%
13	ASMLASML HOLDING N V NYS	4,352,596	$4.2B	1.53%
14	AVGOBROADCOM INC COM	12,611,740	$4.2B	1.51%
15	WMTWALMART INC	40,298,623	$4.2B	1.50%
16	HDHOME DEPOT INC	10,130,293	$4.1B	1.49%
17	DWDMORGAN STANLEY	24,494,146	$3.9B	1.41%
18	SAPSAP SE ADR	14,549,331	$3.9B	1.41%
19	RTXRTX CORPORATION COM	21,174,194	$3.5B	1.28%
20	XOMEXXON MOBIL CORP	31,194,493	$3.5B	1.27%
21	LLYELI LILLY AND CO	4,453,062	$3.4B	1.23%
22	TRVCCITIGROUP INC	33,040,513	$3.4B	1.21%
23	CVXCHEVRON CORP NEW	21,152,060	$3.3B	1.19%
24	SONYSONY GROUP CORP ADR	104,644,526	$3.1B	1.13%
25	AXPAMERICAN EXPRESS CO	8,881,546	$3.0B	1.07%
26	COSTCOSTCO WHSL CORP NEW	3,145,241	$2.9B	1.05%
27	BACBANK AMERICA CORP	52,677,988	$2.7B	0.98%
28	ORCLORACLE CORP	9,045,019	$2.5B	0.92%
29	VVISA INC	7,359,223	$2.5B	0.91%
30	UBSUBS GROUP AG	61,168,437	$2.5B	0.91%
31	FCXFREEPORTMCMORAN INC	63,258,414	$2.5B	0.90%
32	MAMASTERCARD INCORPORATED	4,308,400	$2.5B	0.89%
33	NFLXNETFLIX INC COM	2,033,875	$2.4B	0.88%
34	BPBP PLC SPONSORED ADR ADR	65,483,232	$2.3B	0.82%
35	BLKBLACKROCK INC COM	1,902,167	$2.2B	0.80%
36	MBBISHARES TR MBS ETF	22,503,900	$2.1B	0.78%
37	SCHWSCHWAB CHARLES CORP COM	21,646,588	$2.1B	0.75%
38	MRKMERCK AND CO INC	24,068,126	$2.0B	0.73%
39	SHELSHELL PLC ADR	26,809,946	$1.9B	0.69%
40	JCIJOHNSON CTLS INTL PLC SHS	16,959,249	$1.9B	0.67%
41	SPOTSPOTIFY TECHNOLOGY S A	2,602,625	$1.8B	0.66%
42	UNHUNITEDHEALTH GROUP INC	5,252,449	$1.8B	0.66%
43	BCSBARCLAYS PLC ADR	86,027,312	$1.8B	0.64%
44	ISRGINTUITIVE SURGICAL INC	3,889,439	$1.7B	0.63%
45	INTUINTUIT	2,526,907	$1.7B	0.62%
46	PGPROCTER AND GAMBLE CO	11,008,454	$1.7B	0.61%
47	SPTLSPDR BLOOMBERG BRCLYS LG TRS E	60,589,322	$1.6B	0.59%
48	AZNASTRAZENECA PLC ADR	21,162,724	$1.6B	0.59%
49	ABTABBOTT LABS	12,032,884	$1.6B	0.58%
50	JNJJOHNSON AND JOHNSON	8,446,408	$1.6B	0.57%
51	COFCAPITAL ONE FINL CORP	7,296,227	$1.6B	0.56%
52	NOWSERVICENOW INC	1,656,022	$1.5B	0.55%
53	UNPUNION PAC CORP	6,428,229	$1.5B	0.55%
54	ADBEADOBE INC	4,234,478	$1.5B	0.54%
55	INGING GROEP NV ADR	57,140,954	$1.5B	0.54%
56	MUFGMITSUBISHI UFJ FINL GROUP ADR	91,486,499	$1.5B	0.53%
57	CMICUMMINS INC	3,367,001	$1.4B	0.51%
58	GSKGSK PLC SPONSORED ADR ADR	32,227,615	$1.4B	0.50%
59	COPCONOCOPHILLIPS	14,653,966	$1.4B	0.50%
60	ULUNILEVER PLC ADR	22,537,917	$1.3B	0.48%
61	CRCCANADIAN NAT RES LTD	41,403,027	$1.3B	0.48%
62	TMTOYOTA MOTOR CORP ADR	6,909,198	$1.3B	0.48%
63	TMOTHERMO FISHER SCIENTIFIC INC	2,721,101	$1.3B	0.48%
64	BHPBHP GROUP LTD SPONSORED AD ADR	23,149,649	$1.3B	0.47%
65	RIORIO TINTO PLC ADR	19,120,168	$1.3B	0.46%
66	PFEPFIZER INC	49,288,054	$1.3B	0.45%
67	DEDEERE AND CO	2,722,018	$1.2B	0.45%
68	HBC2HSBC HLDGS PLC SPON ADR NE ADR	17,398,460	$1.2B	0.45%
69	EUFNISHARES MSCI EUROPE FN ETF	35,932,610	$1.2B	0.45%
70	SYKSTRYKER CORPORATION	3,310,122	$1.2B	0.44%
71	TTENTOTALENERGIES SE ADR ADR	19,963,832	$1.2B	0.43%
72	BABOEING CO	5,505,040	$1.2B	0.43%
73	PEPPEPSICO INC COM	8,112,038	$1.1B	0.41%
74	SANBANCO SANTANDER SA ADR	107,629,107	$1.1B	0.41%
75	MUBISHARES NATIONAL MUNI BOND ETF	9,725,773	$1.0B	0.37%
76	CRMSALESFORCE INC	4,328,230	$1.0B	0.37%
77	SBUXSTARBUCKS CORP	12,025,740	$1.0B	0.37%
78	ITWILLINOIS TOOL WKS INC	3,650,562	$951.9M	0.34%
79	BABAALIBABA GROUP HLDG LTD ADR	5,293,597	$946.1M	0.34%
80	VOOVANGUARD S AND P 500 ETF	1,543,178	$945.0M	0.34%
81	DBDEUTSCHE BANK A G GRS	26,432,006	$936.0M	0.34%
82	NVSNNOVARTIS A G SPONSORED ADR ADR	7,239,366	$928.4M	0.34%
83	CSXCSX CORP	25,855,674	$918.1M	0.33%
84	CARRCARRIER GLOBAL CORPORATION	15,139,140	$903.8M	0.33%
85	RYROYAL BK CDA	6,004,866	$884.6M	0.32%
86	DHRDANAHER CORP DEL COM	4,369,219	$866.2M	0.31%
87	NDQINVESCO QQQ TRUST SERIES 1	1,396,483	$838.4M	0.30%
88	TTTRANE TECHNOLOGIES PLC	1,983,671	$837.0M	0.30%
89	BSXBOSTON SCIENTIFIC CORP	8,461,025	$826.0M	0.30%
90	EMREMERSON ELEC CO	6,262,570	$821.5M	0.30%
91	BBVABANCO BILBAO VIZCAYA ARGEN ADR	38,310,215	$737.5M	0.27%
92	LYGLLOYDS BANKING GROUP PLC ADR	149,958,264	$680.8M	0.25%
93	IXJISHARES GLOBAL HEALTH CARE ETF	7,439,921	$659.3M	0.24%
94	BUDANHEUSER BUSCH INBEV SANV ADR	11,011,683	$656.4M	0.24%
95	SUSUNCOR ENERGY INC NEW	15,530,965	$649.3M	0.24%
96	SNYSANOFI SA ADR	12,578,746	$593.7M	0.21%
97	IRINGERSOLL RAND INC	6,942,711	$573.6M	0.21%
98	NVONOVONORDISK A S ADR	10,322,903	$572.8M	0.21%
99	IXCISHARES GLOBAL ENERGY ETF	13,602,292	$567.9M	0.21%
100	VEAVANGUARD FTSE DEVELOPED MKT	9,430,708	$565.1M	0.20%

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