SEC 13F Intelligence

Managers / Q4 2025 · view latest →

Fisher Funds Management LTD

CIK 0001435028 · PO BOX 33549, TAKAPUNA, AUCKLAND, Q2, 0622 · 649 445 3377

Reported Value
$3.9B
Q4 2025
Positions
166
Filings on Record
6
2019–present window
Filed
Jan 26, 2026
original filing

Summary

Fisher Funds Management Ltd reported $3.9B in U.S.-listed holdings across 166 positions for Q4 2025.

Its largest position, MSFT, represents 5.6% of the portfolio.

Compared with Q3 2025, the fund opened 7 new positions and exited 1.

Portfolio Metrics

Turnover
+9.3%
vs prior filed quarter
Top-10 Concentration
+30.8%
share of reported value
Largest Position
+5.6%
Microsoft
New / Exited
7 / 1
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’24: $4.1BQ4 ’24Q1 ’25: $4.1BQ1 ’25Q2 ’25: $4.2BQ2 ’25Q3 ’25: $3.8BQ3 ’25Q4 ’25: $3.9BQ4 ’25Q1 ’26: $3.4BQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 90.9%Other: 4.9%REIT: 2.5%ADR: 1.4%MLP: 0.3%
  • Common Stock · 90.9% · $3.5B
  • Other · 4.9% · $188M
  • REIT · 2.5% · $98M
  • ADR · 1.4% · $54M
  • MLP · 0.3% · $12M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
EFXEQUIFAX INCNEW+128.2K128.2K+$28M$28M
G9NGRUPO AEROPUERTO DEL PACIFICNEW+99.4K99.4K+$26M$26M
AXPAMERICAN EXPRESS CONEW+36.3K36.3K+$13M$13M
MLB1MERCADOLIBRE INCNEW+4.8K4.8K+$10M$10M
UBERUBER TECHNOLOGIES INCNEW+115.2K115.2K+$9M$9M
QQNITY ELECTRONICSNEW+29.4K29.4K+$2M$2M
APTIV PLCNEW+24.9K24.9K+$2M$2M
NFLXNETFLIX INCADDED+588.0K622.9K+$17M$58M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2025

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →COM5.58%$216M445.7K
2AMZNAMAZON COM INChistory →COM4.08%$158M683.2K
3GOOGLALPHABET INChistory →CAP STK CL A3.56%$138M440.5K
4METAMETA PLATFORMS INChistory →CL A3.05%$118M178.5K
5MAMASTERCARD INCORPORATEDhistory →CL A2.62%$102M177.3K
6NVDANVIDIA CORPhistory →COM2.61%$101M538.5K
7ICON PLCSHS2.41%$93M513.1K
8DHRDANAHER CORPORATIONhistory →COM2.36%$91M397.7K
9AAPLAPPLE INChistory →COM2.35%$91M334.8K
10ODFLOLD DOMINION FREIGHT LINE INhistory →COM2.20%$85M538.8K
11DC4DEXCOM INChistory →COM2.09%$81M1.22M
12AVGOAVAGO TECHNOLOGIES LTDhistory →SHS2.02%$78M225.0K
13CRMSALESFORCE COM INChistory →COM1.93%$75M282.5K
14ZTSZOETIS INChistory →CL A1.85%$72M569.3K
15MSCIMSCI INChistory →COM1.69%$66M113.7K
16EWEDWARD LIFESCIENCES CORPhistory →COM1.68%$65M761.9K
17JPMJPMORGAN CHASE & COhistory →COM1.66%$64M199.2K
18ISRGINTUITIVE SURGICAL INChistory →COM NEW1.63%$63M110.8K
19NFLXNETFLIX INChistory →COM1.51%$58M622.9K
20FNDFLOOR & DECOR HLDGS INChistory →CL A1.41%$55M890.9K
21TEAM1EURATLASSIAN CORP PLChistory →CL A1.41%$54M334.0K
22AMTAMERICAN TOWER CORP NEWhistory →COM1.31%$51M287.7K
23KKRKKR & CO INChistory →COM1.29%$50M390.9K
24NEENEXTERA ENERGY INChistory →COM1.29%$50M619.6K
25HCAHCA HOLDINGS INChistory →COM1.12%$43M92.8K
26ITGARTNER INChistory →COM1.07%$41M162.6K
27ASML HOLDING N VN Y REGISTRY SHS0.99%$38M35.9K
28KMIKINDER MORGAN INC DELhistory →COM0.99%$38M1.40M
29TWTRADEWEB MKTS INChistory →CL A0.97%$38M348.4K
30PGRPROGRESSIVE CORP OHIOhistory →COM0.94%$36M158.4K
31MLMMARTIN MARIETTA MATLS INChistory →COM0.94%$36M58.0K
32AJGGALLAGHER ARTHUR J & COhistory →COM0.93%$36M137.8K
33FERGFERGUSON ENTERPRISES INChistory →COMMON STOCK NEW0.92%$36M160.4K
34CMSCMS ENERGY CORPhistory →COM0.92%$36M508.6K
35BSXBOSTON SCIENTIFIC CORPhistory →COM0.92%$35M370.6K
36NKENIKE INChistory →CL B0.90%$35M547.5K
37BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW0.84%$33M64.8K
38JNJJOHNSON & JOHNSONhistory →COM0.83%$32M156.1K
39CSCOCISCO SYS INChistory →COM0.82%$32M409.8K
40ABBVABBVIE INChistory →COM0.77%$30M129.5K
41HUMHUMANA INChistory →COM0.76%$29M113.5K
42MCKMCKESSON CORPhistory →COM0.74%$29M35.0K
43ORCLORACLE CORPhistory →COM0.74%$29M146.6K
44WCNWASTE CONNECTIONS INChistory →COM0.73%$28M159.6K
458CWCROWN CASTLE INChistory →COM0.73%$28M316.0K
46EFXEQUIFAX INChistory →COM0.72%$28M128.2K
47COSTCOSTCO WHSL CORP NEWhistory →COM0.71%$27M31.7K
48CPCANADIAN PAC RY LTDhistory →COM0.69%$27M362.9K
49UNPUNION PACIFIC CORPhistory →COM0.69%$27M115.1K
50DEDEERE & COhistory →COM0.68%$26M56.1K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$3.4B169Apr 16, 202613F-HRchanges · EDGAR ↗
Q4 2025$3.9B166Jan 26, 202613F-HRchanges · EDGAR ↗
Q3 2025$3.8B160Oct 29, 202513F-HRchanges · EDGAR ↗
Q2 2025$4.2B168Aug 4, 202513F-HRchanges · EDGAR ↗
Q1 2025$4.1B164Apr 29, 202513F-HRchanges · EDGAR ↗
Q4 2024$4.1B164Feb 4, 202513F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.