Fisher Funds Management
AUCKLAND, Q2files as Fisher Funds Management LTD
$3.5bn in 174 US stocks at the end of 30 June 2026. The top 10 are 31.9% of the money. It changed about 13.6% of the portfolio this quarter.
Value
$3.5bn
Stocks
174
Top 10 share
31.9%
Turnover
13.6%
What changed this quarter
New
Bought for the first time this quarter.
- Targa ResourcesTRGP0.6% of the fund
- HDFC BankHDB0.5% of the fund
- WalmartWMT0.1% of the fund
- Costco WholesaleCOST<0.1% of the fund
- DuPont de NemoursDD<0.1% of the fund
- Texas InstrumentsTXN<0.1% of the fund
- Coca-ColaKO<0.1% of the fund
- VersigentVGNT<0.1% of the fund
Added
Bought more of a stock they already held.
- MicrosoftMSFT6.0% of the fund+7%
- NvidiaNVDA4.7% of the fund+45%
- AlphabetGOOGL3.8% of the fund+3%
- AppleAAPL2.6% of the fund+22%
- ASML Holding NVASML1.5% of the fund+113%
- Williams CompaniesWMB1.3% of the fund+87%
- Boston ScientificBSX1.2% of the fund+17%
- VisaV1.2% of the fund+359%
- American ExpressAXP0.9% of the fund+14%
- Taiwan Semiconductor ManufacturingTSM0.9% of the fund+161%
- S&P GlobalSPGI0.8% of the fund+726%
- Capital One FinancialCOF0.7% of the fund+28%
- Warner Bros. DiscoveryWBD0.7% of the fund+30%
- VistraVST0.7% of the fund+8%
- Eli LillyLLY0.5% of the fund+38%
- American Water Works CompanyAWK0.3% of the fund+216%
- Advanced Micro DevicesAMD0.2% of the fund+56%
- CitigroupC<0.1% of the fund+39%
- Morgan StanleyMS<0.1% of the fund+39%
- McDonald'sMCD<0.1% of the fund+34%
- Wells Fargo & CompanyWFC<0.1% of the fund+54%
Cut
Sold some of their stake.
- Amazon.comAMZN4.0% of the fund-14%
- MastercardMA2.6% of the fund-10%
- BroadcomAVGO1.8% of the fund-10%
- DexcomDXCM1.6% of the fund-8%
- DanaherDHR1.6% of the fund-19%
- Uber TechnologiesUBER1.4% of the fund-13%
- NetflixNFLX1.4% of the fund-16%
- Intuitive SurgicalISRG1.3% of the fund-17%
- Micron TechnologyMU1.3% of the fund-31%
- MsciMSCI1.3% of the fund-24%
- Arthur J. GallagherAJG1.2% of the fund-13%
- Edwards LifesciencesEW1.0% of the fund-23%
- Old Dominion Freight LineODFL1.0% of the fund-42%
- EquifaxEFX1.0% of the fund-5%
- ProgressivePGR1.0% of the fund-14%
- CMS EnergyCMS0.9% of the fund-18%
- HumanaHUM0.9% of the fund-23%
- Ferguson EnterprisesFERG0.9% of the fund-8%
- KKRKKR0.9% of the fund-24%
- Applied MaterialsAMAT0.8% of the fund-50%
- Kinder MorganKMI0.8% of the fund-31%
- Johnson & JohnsonJNJ0.8% of the fund-11%
- IntelINTC0.8% of the fund-36%
- American TowerAMT0.8% of the fund-21%
- Cisco SystemsCSCO0.8% of the fund-31%
Sold out
Sold their entire stake.
- Dollar GeneralDG-100%
- AdobeADBE-100%
- DuPont de NemoursDD-100%
Holdings
- Alpha TAU MedicalDRTSW
- Share
- 0.2%
- Value
- $8m
- Shares
- 157,700
-5%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| MicrosoftMSFT | 6.0% | $211m | 564,767 | +7% |
| NvidiaNVDA | 4.7% | $165m | 823,841 | +45% |
| Amazon.comAMZN | 4.0% | $142m | 597,393 | -14% |
| AlphabetGOOGL | 3.8% | $135m | 377,935 | +3% |
| Meta PlatformsMETA | 2.9% | $101m | 179,034 | Held |
| AppleAAPL | 2.6% | $92m | 318,286 | +22% |
| MastercardMA | 2.6% | $90m | 175,563 | -10% |
| Floor & Decor HoldingsFND | 1.8% | $63m | 1,069,475 | Held |
| BroadcomAVGO | 1.8% | $63m | 166,610 | -10% |
| MercadoLibreMELI | 1.7% | $61m | 35,990 | Held |
| DexcomDXCM | 1.6% | $57m | 840,950 | -8% |
| DanaherDHR | 1.6% | $56m | 292,066 | -19% |
| ASML Holding NVASML | 1.5% | $51m | 25,777 | +113% |
| NextEra EnergyNEE | 1.5% | $51m | 582,884 | Held |
| JPMorgan ChaseJPM | 1.4% | $50m | 151,953 | Held |
| Uber TechnologiesUBER | 1.4% | $50m | 687,742 | -13% |
| NetflixNFLX | 1.4% | $50m | 694,523 | -16% |
| Intuitive SurgicalISRG | 1.3% | $47m | 118,359 | -17% |
| Micron TechnologyMU | 1.3% | $47m | 40,629 | -31% |
| MsciMSCI | 1.3% | $47m | 83,148 | -24% |
| Williams CompaniesWMB | 1.3% | $46m | 624,065 | +87% |
| Boston ScientificBSX | 1.2% | $43m | 1,007,864 | +17% |
| Arthur J. GallagherAJG | 1.2% | $42m | 181,006 | -13% |
| VisaV | 1.2% | $41m | 118,511 | +359% |
| Edwards LifesciencesEW | 1.0% | $36m | 397,646 | -23% |
| ZoetisZTS | 1.0% | $35m | 491,051 | Held |
| Old Dominion Freight LineODFL | 1.0% | $35m | 160,100 | -42% |
| EquifaxEFX | 1.0% | $34m | 214,436 | -5% |
| ProgressivePGR | 1.0% | $34m | 153,654 | -14% |
| CMS EnergyCMS | 0.9% | $33m | 429,193 | -18% |
| HumanaHUM | 0.9% | $33m | 82,603 | -23% |
| American ExpressAXP | 0.9% | $33m | 96,344 | +14% |
| Ferguson EnterprisesFERG | 0.9% | $32m | 134,939 | -8% |
| Taiwan Semiconductor ManufacturingTSM | 0.9% | $32m | 65,978 | +161% |
| Tradeweb MarketsTW | 0.9% | $30m | 300,574 | Held |
| KKRKKR | 0.9% | $30m | 325,985 | -24% |
| Applied MaterialsAMAT | 0.8% | $29m | 40,717 | -50% |
| S&P GlobalSPGI | 0.8% | $29m | 71,588 | +726% |
| Kinder MorganKMI | 0.8% | $29m | 896,697 | -31% |
| Johnson & JohnsonJNJ | 0.8% | $28m | 110,089 | -11% |
| IntelINTC | 0.8% | $27m | 193,971 | -36% |
| Berkshire HathawayBRK-B | 0.8% | $27m | 54,037 | Held |
| American TowerAMT | 0.8% | $27m | 164,898 | -21% |
| Cisco SystemsCSCO | 0.8% | $27m | 226,634 | -31% |
| Capital One FinancialCOF | 0.7% | $26m | 130,192 | +28% |
| IconICLR | 0.7% | $26m | 149,726 | -14% |
| AbbVieABBV | 0.7% | $25m | 99,740 | -5% |
| Canadian Pacific Kansas CityCP | 0.7% | $25m | 285,288 | Held |
| EquinixEQIX | 0.7% | $24m | 23,071 | Held |
| Warner Bros. DiscoveryWBD | 0.7% | $24m | 899,932 | +30% |
| VistraVST | 0.7% | $24m | 150,963 | +8% |
| AlphabetGOOG | 0.7% | $23m | 65,328 | Held |
| Pacific Airport GroupPAC | 0.6% | $21m | 84,412 | -15% |
| SalesforceCRM | 0.6% | $21m | 133,904 | Held |
| Targa ResourcesTRGP | 0.6% | $20m | 75,007 | New |
| MerckMRK | 0.6% | $19m | 151,132 | Held |
| UnitedHealth GroupUNH | 0.5% | $19m | 46,062 | -5% |
| Crown CastleCCI | 0.5% | $18m | 243,881 | Held |
| International Business MachinesIBM | 0.5% | $18m | 65,349 | -5% |
| Martin Marietta MaterialsMLM | 0.5% | $18m | 31,644 | Held |
| Eli LillyLLY | 0.5% | $17m | 14,451 | +38% |
| Home DepotHD | 0.5% | $17m | 49,127 | -5% |
| HDFC BankHDB | 0.5% | $17m | 665,937 | New |
| United RentalsURI | 0.5% | $17m | 14,855 | -11% |
| Bank of New York MellonBNY | 0.5% | $17m | 115,019 | -5% |
| OracleORCL | 0.5% | $16m | 110,066 | -11% |
| AtlassianTEAM | 0.4% | $16m | 201,695 | -9% |
| NucorNUE | 0.4% | $15m | 68,876 | -11% |
| Verizon CommunicationsVZ | 0.4% | $15m | 354,935 | -5% |
| Procter & GamblePG | 0.4% | $15m | 100,816 | -5% |
| AT&TT | 0.4% | $15m | 700,833 | -5% |
| Parker-HannifinPH | 0.4% | $14m | 14,299 | -5% |
| Waste ConnectionsWCN | 0.4% | $14m | 83,010 | -58% |
| Lam ResearchLRCX | 0.4% | $14m | 31,319 | -41% |
| Steel DynamicsSTLD | 0.4% | $13m | 55,789 | -37% |
| Union PacificUNP | 0.3% | $11m | 39,150 | Held |
| American Water Works CompanyAWK | 0.3% | $10m | 78,502 | +216% |
| Analog DevicesADI | 0.3% | $10m | 25,871 | -22% |
| AllstateALL | 0.3% | $10m | 42,694 | -5% |
| CVS HealthCVS | 0.3% | $10m | 97,450 | -5% |
| AflacAFL | 0.3% | $10m | 84,661 | -5% |
| PPLPPL | 0.3% | $10m | 270,148 | -5% |
| QualcommQCOM | 0.3% | $10m | 52,992 | -45% |
| ExelonEXC | 0.3% | $10m | 204,844 | -5% |
| Enterprise Products Partners L.P.EPD | 0.3% | $9m | 255,933 | -29% |
| Lowe's CompaniesLOW | 0.3% | $9m | 42,643 | -5% |
| Ford MotorF | 0.3% | $9m | 671,584 | -18% |
| Bank of AmericaBAC | 0.3% | $9m | 162,734 | Held |
| Ameriprise FinancialAMP | 0.3% | $9m | 20,204 | -5% |
| Southeast Airport GroupASR | 0.3% | $9m | 29,931 | -35% |
| HCA HealthcareHCA | 0.3% | $9m | 23,224 | -76% |
| Mondelez InternationalMDLZ | 0.3% | $9m | 153,840 | -5% |
| AmgenAMGN | 0.2% | $9m | 24,245 | -5% |
| Cigna GroupCI | 0.2% | $9m | 30,942 | -5% |
| Alpha TAU MedicalDRTSW | 0.2% | $8m | 157,700 | -5% |
| MckessonMCK | 0.2% | $8m | 10,895 | -75% |
| Westinghouse Air Brake TechnologiesWAB | 0.2% | $8m | 30,473 | -5% |
| CRH PublicCRH | 0.2% | $8m | 74,967 | Held |
| PfizerPFE | 0.2% | $8m | 324,451 | -5% |
| Johnson Controls InternationalJCI | 0.2% | $8m | 53,255 | Held |
Showing the largest 100 of 174.
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 16.5% since 30 June 2025.
Where the money is
Technology26.0%
Financial services16.7%
Health care15.1%
Media & telecom10.6%
Industrials9.9%
Retail & consumer7.8%
Utilities5.0%
Energy2.7%
Real estate2.2%
Materials2.2%
Everyday goods1.5%
Other0.4%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.