Fisher Funds Management LTD

CIK

1435028

Location

AUCKLAND, Q2

Portfolio Value

Mid $3,384,028,658

Diversification

Diversified

Filing Date

Global Rank

#687 / 8,232 ▲ 6

Top Industry

Semiconductors 6.8%

3Y Alpha vs SPY

-12.3%

Period ended 2 months ago

Filed Apr 16, 2026 · 59d

6 quarters · since Dec 2024

Clone Performance

Feb 2025–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+6.6%

SPY

+23.4%

Annualised alpha

-12.3%

Max drawdown

−16.6%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

167 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

5.8%

+0.1 pts

Top 5

19.1%

+0.1 pts

Top 10

30.3%

−0.8 pts

HHI

168

Diversified−5

Portfolio Trend

6 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	22.1%	$749,127,069	33
Healthcare	18.6%	$629,700,239	27
Financial Services	15.2%	$514,223,643	26
Communication Services	10.8%	$363,874,420	10
Industrials	9.8%	$330,172,797	21
Consumer Cyclical	9.7%	$329,014,618	14
Utilities	4.6%	$156,326,317	8
Real Estate	2.6%	$86,562,713	5
Basic Materials	2.5%	$85,182,659	10
Energy	2.4%	$81,384,007	3
Consumer Defensive	1.7%	$56,673,349	9
Unclassified	0.1%	$1,786,827	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

24 positions

Ticker	Company	Δ Shares	Shares	Value
UBER	Uber Technologies, Inc	+672,858	788,026	$56,682,710
BSX	Boston Scientific Corp	+490,387	860,964	$54,025,491
NFLX	Netflix Inc	+202,963	825,858	$79,406,246
FND	Floor & Decor Holdings, Inc.	+195,952	1,086,888	$55,213,910
VST	Vistra Corp.	+133,755	140,089	$21,059,579
EFX	Equifax Inc	+98,497	226,651	$40,813,045
COF	Capital One Financial Corp	+95,487	101,321	$18,483,990
MSFT	Microsoft Corp	+81,500	527,159	$195,138,447
AJG	Arthur J. Gallagher & Co.	+69,379	207,219	$44,879,491
AXP	American Express Co	+48,121	84,377	$25,522,354
WCN	Waste Connections, Inc.	+36,895	196,508	$31,920,759
KKR	KKR & Co. Inc.	+36,269	427,156	$39,511,930
ISRG	Intuitive Surgical Inc	+31,392	142,156	$65,532,494
NVDA	Nvidia Corp	+31,330	569,809	$99,374,689
MELI	Mercadolibre Inc	+30,716	35,471	$61,330,068
OMAB	Central North Airport Group	+24,583	148,551	$17,043,256
PGR	Progressive Corp/Oh/	+19,918	178,334	$35,352,932
MA	Mastercard Inc	+18,396	195,699	$97,782,962
CMS	Cms Energy Corp	+17,189	525,747	$40,787,452
AMZN	Amazon Com Inc	+10,511	693,708	$144,478,565
MCK	Mckesson Corp	+8,921	43,890	$37,980,650
HCA	HCA Healthcare, Inc.	+5,223	97,979	$46,367,581
META	Meta Platforms, Inc.	+3,256	181,787	$104,005,796
EQIX	Equinix Inc	+568	23,071	$22,615,117
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
ICLR	Icon PLC	−338,811	174,291	$19,287,042
DXCM	Dexcom Inc	−308,264	910,584	$57,184,675
ODFL	Old Dominion Freight Line, Inc.	−264,250	274,549	$53,646,874
EW	Edwards Lifesciences Corp	−242,305	519,594	$41,609,087
IT	Gartner Inc	−151,579	11,035	$1,747,281
CRM	Salesforce, Inc.	−147,952	134,513	$25,109,541
TEAM	Atlassian Corp	−111,398	222,613	$15,193,337
T	At&T Inc.	−105,925	741,432	$21,494,113
KMI	Kinder Morgan, Inc.	−97,618	1,297,651	$43,510,238
CSCO	Cisco Systems, Inc.	−81,193	328,629	$25,498,324
ZTS	Zoetis Inc.	−78,215	491,051	$58,047,138
AMT	American Tower Corp /Ma/	−78,211	209,470	$36,150,332
CP	Canadian Pacific Kansas City Ltd/Cn	−77,613	285,288	$22,440,754
UNP	Union Pacific Corp	−75,979	39,150	$9,498,573
GOOGL	Alphabet Inc.	−75,325	365,199	$105,016,624
AAPL	Apple Inc.	−74,314	260,471	$66,104,935
CCI	Crown Castle Inc.	−72,133	243,881	$19,829,964
PFE	Pfizer Inc	−57,887	343,247	$9,638,375
IBP	Installed Building Products, Inc.	−53,882	28,966	$7,680,334
JPM	Jpmorgan Chase & Co	−47,234	151,952	$44,698,200
TW	Tradeweb Markets Inc.	−44,581	303,799	$35,744,990
AVGO	Broadcom Inc.	−40,523	184,521	$57,111,094
MRK	Merck & Co., Inc.	−39,106	151,132	$18,179,668
PPL	PPL Corp	−38,956	285,798	$10,917,483
DHR	Danaher Corp /De/	−38,830	358,885	$68,044,596
No positions match the current search.

New Positions

Positions the filer opened this quarter

5 positions

Ticker	Company	Shares	Value
DG	Dollar General Corp	105,665	$12,545,605
TYL	Tyler Technologies Inc	25,778	$8,825,871
TSM	Taiwan Semiconductor Manufacturing Co Ltd	25,311	$8,553,852
WAT	Waters Corp /De/	2,239	$666,774
VSNT	Versant Media Group, Inc.	12,456	$461,121
No positions match the current search.

Sold Out

Positions the filer fully exited

2 positions

Ticker	Company	Shares	Value
NKE	NIKE, Inc.	547,474	$34,879,568
COST	Costco Wholesale Corp /New	31,698	$27,334,453
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

167 positions · $3,384,028,658 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 167 positions by value · page 1 of 4

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
MSFT	Microsoft Corp Technology	Added	527,159	+81,500	$195,138,447	−9.5%	5.77%
AMZN	Amazon Com Inc Consumer Cyclical	Added	693,708	+10,511	$144,478,565	−8.4%	4.27%
GOOGL	Alphabet Inc. Communication Services	Reduced	365,199	-75,325	$105,016,624	−23.8%	3.10%
META	Meta Platforms, Inc. Communication Services	Added	181,787	+3,256	$104,005,796	−11.7%	3.07%
NVDA	Nvidia Corp Technology	Added	569,809	+31,330	$99,374,689	−1.0%	2.94%
MA	Mastercard Inc Financial Services	Added	195,699	+18,396	$97,782,962	−3.4%	2.89%
NFLX	Netflix Inc Communication Services	Added	825,858	+202,963	$79,406,246	+36.0%	2.35%
DHR	Danaher Corp /De/ Healthcare	Reduced	358,885	-38,830	$68,044,596	−25.3%	2.01%
AAPL	Apple Inc. Technology	Reduced	260,471	-74,314	$66,104,935	−27.4%	1.95%
ISRG	Intuitive Surgical Inc Healthcare	Added	142,156	+31,392	$65,532,494	+4.5%	1.94%
MELI	Mercadolibre Inc Consumer Cyclical	Added	35,471	+30,716	$61,330,068	+540.3%	1.81%
MSCI	MSCI Inc. Financial Services	Reduced	109,160	-4,573	$58,838,331	−9.8%	1.74%
ZTS	Zoetis Inc. Healthcare	Reduced	491,051	-78,215	$58,047,138	−19.0%	1.72%
DXCM	Dexcom Inc Healthcare	Reduced	910,584	-308,264	$57,184,675	−29.3%	1.69%
AVGO	Broadcom Inc. Technology	Reduced	184,521	-40,523	$57,111,094	−26.7%	1.69%
UBER	Uber Technologies, Inc Technology	Added	788,026	+672,858	$56,682,710	+502.3%	1.68%
FND	Floor & Decor Holdings, Inc. Consumer Cyclical	Added	1,086,888	+195,952	$55,213,910	+1.8%	1.63%
NEE	Nextera Energy Inc Utilities	Reduced	582,884	-36,756	$54,138,265	+8.8%	1.60%
BSX	Boston Scientific Corp Healthcare	Added	860,964	+490,387	$54,025,491	+52.9%	1.60%
ODFL	Old Dominion Freight Line, Inc. Industrials	Reduced	274,549	-264,250	$53,646,874	−36.5%	1.59%
HCA	HCA Healthcare, Inc. Healthcare	Added	97,979	+5,223	$46,367,581	+7.1%	1.37%
AJG	Arthur J. Gallagher & Co. Financial Services	Added	207,219	+69,379	$44,879,491	+25.8%	1.33%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	151,952	-47,234	$44,698,200	−30.4%	1.32%
KMI	Kinder Morgan, Inc. Energy	Reduced	1,297,651	-97,618	$43,510,238	+13.4%	1.29%
EW	Edwards Lifesciences Corp Healthcare	Reduced	519,594	-242,305	$41,609,087	−35.9%	1.23%
EFX	Equifax Inc Industrials	Added	226,651	+98,497	$40,813,045	+46.8%	1.21%
CMS	Cms Energy Corp Utilities	Added	525,747	+17,189	$40,787,452	+14.7%	1.21%
KKR	KKR & Co. Inc. Financial Services	Added	427,156	+36,269	$39,511,930	−20.7%	1.17%
MCK	Mckesson Corp Healthcare	Added	43,890	+8,921	$37,980,650	+32.4%	1.12%
AMT	American Tower Corp /Ma/ Real Estate	Reduced	209,470	-78,211	$36,150,332	−28.4%	1.07%
TW	Tradeweb Markets Inc. Financial Services	Reduced	303,799	-44,581	$35,744,990	−4.6%	1.06%
PGR	Progressive Corp/Oh/ Financial Services	Added	178,334	+19,918	$35,352,932	−2.0%	1.04%
FERG	Ferguson Enterprises Inc. /DE/ Industrials	Reduced	147,016	-13,412	$34,292,952	−4.0%	1.01%
WCN	Waste Connections, Inc. Industrials	Added	196,508	+36,895	$31,920,759	+14.0%	0.94%
JNJ	Johnson & Johnson Healthcare	Reduced	123,343	-32,710	$30,149,962	−6.6%	0.89%
AMAT	Applied Materials Inc /De Technology	Held	81,063	0	$27,706,522	+33.0%	0.82%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	54,037	-10,748	$25,894,530	−20.5%	0.77%
AXP	American Express Co Financial Services	Added	84,377	+48,121	$25,522,354	+90.3%	0.75%
CSCO	Cisco Systems, Inc. Technology	Reduced	328,629	-81,193	$25,498,324	−19.2%	0.75%
CRM	Salesforce, Inc. Technology	Reduced	134,513	-147,952	$25,109,541	−66.4%	0.74%
PAC	Pacific Airport Group Industrials	Held	99,446	0	$24,550,234	−6.4%	0.73%
WMB	Williams Companies, Inc. Energy	Held	333,234	0	$24,252,770	+21.1%	0.72%
ABBV	AbbVie Inc. Healthcare	Reduced	105,518	-23,961	$22,949,109	−22.4%	0.68%
EQIX	Equinix Inc Real Estate	Added	23,071	+568	$22,615,117	+31.2%	0.67%
CP	Canadian Pacific Kansas City Ltd/Cn Industrials	Reduced	285,288	-77,613	$22,440,754	−16.0%	0.66%
T	At&T Inc. Communication Services	Reduced	741,432	-105,925	$21,494,113	+2.1%	0.64%
VST	Vistra Corp. Utilities	Added	140,089	+133,755	$21,059,579	+1960.9%	0.62%
CCI	Crown Castle Inc. Real Estate	Reduced	243,881	-72,133	$19,829,964	−29.4%	0.59%
MU	Micron Technology Inc Technology	Reduced	58,643	-10,319	$19,811,951	+0.7%	0.59%
ICLR	Icon PLC Healthcare	Reduced	174,291	-338,811	$19,287,042	−79.4%	0.57%