Fisher Asset Management, LLC
SEC Form 13F institutional filer · CIK 0000850529
13F-HR · 362 reported holdings · 2026-03-31
Asset management firm, subsidiary of Fisher Investments.
Reported long-US-equity value
$197.46B
Top-10 concentration
43.5%
Fisher Asset Management, LLC — $197B AUM allocation strategy
Fisher Asset Management, LLC files SEC Form 13F and reports $197B of long US equity value across 362 reported holdings for 2026-03-31.
Its largest sector bet is Information Technology 22.3%, followed by Financials 9.6% and Communication Services 7.6%.
The top 10 holdings account for 44% of reported value — a broadly spread portfolio. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
Fisher Asset Management, LLC — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$197B
total across 362 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
44% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$PFE +53M sh · +$1.65B+$CSCO +14.1M sh · +$1.1B+$ABBV +8.46M sh · +$1.83B
Biggest trims (shares)
−$BLK −11.2M sh · −$655M−$ABT −10.7M sh · −$1.36B−$BSX −8.69M sh · −$843M
Exited to nil (held last quarter, gone now)
$AXON ($547K last qtr)$SYY ($427K last qtr)$HOOD ($315K last qtr)$A ($301K last qtr)$WRB ($265K last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Semiconductors10.1%—
- Interactive Media & Services7.6%—
- Technology Hardware, Storage & Peripherals7.2%—
- Integrated Oil & Gas5.1%—
- Investment Banking & Brokerage5.1%—
- Systems Software4.9%—
- Diversified Banks4.5%—
- Consumer Staples Merchandise Retail4.2%—
- Other holdings51.3%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $NVDA | NVIDIA Corporation | 88.6M | $15.4B | +2.5M | 7.8% |
| $AAPL | Apple Inc | 56.4M | $14.3B | +1.28M | 7.3% |
| $GOOG | Alphabet Inc. Class C Capital Stock | 39.1M | $11.2B | +945K | 5.7% |
| $MSFT | Microsoft Corporation | 25.9M | $9.6B | +641K | 4.9% |
| $AMZN | Amazon.com Inc | 34.2M | $7.12B | +592K | 3.6% |
| $CAT | Caterpillar Inc | 9.78M | $6.93B | +283K | 3.5% |
| $GS | Goldman Sachs Group Inc | 6.83M | $5.78B | +58.3K | 2.9% |
| $XOM | ExxonMobil Holdings Corporation | 32.3M | $5.48B | +785K | 2.8% |
| $WMT | Walmart Inc | 41M | $5.09B | +351K | 2.6% |
| $JPM | JP Morgan Chase & Co | 17M | $5.01B | +1M | 2.5% |
…and 352 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
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How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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