Question 1

Does Fisher Investments own SAM stock?

Accepted Answer

No. Fisher Investments exited its SAM (Boston Beer) position in Q4 2025. Its Q3 2025 13F listed 231,467 shares worth $48.9M.

Question 2

How many shares of SAM does Fisher Investments own?

Accepted Answer

None since Q4 2025, when Fisher Investments exited the position. Its Q3 2025 13F listed 231,467 shares worth $48.9M.

Question 3

What is Fisher Investments' SAM position worth?

Accepted Answer

Fisher Investments' SAM position was worth $48.9M in its Q3 2025 13F, before the exit in Q4 2025.

Question 4

Is Fisher Investments buying or selling SAM?

Accepted Answer

In Q4 2025, Fisher Investments exited its entire SAM position.

Question 5

When did Fisher Investments first buy SAM?

Accepted Answer

Fisher Investments already held SAM in its Q4 2018 13F, the earliest on record, and listed it in 28 quarterly 13F filings.

Quarter	Action	Shares	Change	Value	Weight	Price	Conviction
2025-Q4 Latest	Exited	0	-100.0%	$0	0.0%	$195.13	0
2025-Q3	Decreased	231,467	-0.3%	$48.9M	0.0%	$211.42	0
2025-Q2	Increased	232,082	0.0%	$44.3M	0.0%	$190.81	29
2025-Q1	Increased	232,079	+44.7%	$55.4M	0.0%	$238.84	40
2024-Q4	Increased	160,419	+27.1%	$48.1M	0.0%	$299.98	36
2024-Q3	Decreased	126,243	-0.8%	$36.5M	0.0%	$289.14	0
2024-Q2	Increased	127,269	+18.1%	$38.8M	0.0%	$305.05	34
2024-Q1	Decreased	107,773	-0.7%	$32.8M	0.0%	$304.42	0
2023-Q4	Decreased	108,506	-11.9%	$37.5M	0.0%	$345.59	0
2023-Q3	Decreased	123,165	-4.6%	$48M	0.0%	$389.53	0
2023-Q2	Increased	129,147	+0.7%	$39.8M	0.0%	$308.44	29
2023-Q1	Decreased	128,208	-7.8%	$42.1M	0.0%	$328.70	0
2022-Q4	Decreased	139,013	-1.7%	$45.8M	0.0%	$329.52	0
2022-Q3	Increased	141,356	+1.1%	$45.8M	0.0%	$323.65	29
2022-Q2	Increased	139,840	+5.4%	$42.4M	0.0%	$302.97	31
2022-Q1	Increased	132,646	+13.1%	$51.5M	0.0%	$388.47	33
2021-Q4	Increased	117,287	+18.6%	$59.2M	0.0%	$505.10	35
2021-Q3	Decreased	98,880	-3.1%	$50.4M	0.0%	$509.75	0
2021-Q2	Decreased	102,058	-11.2%	$104.2M	0.1%	$1,020.80	0
2021-Q1	Decreased	114,982	-5.0%	$138.7M	0.1%	$1,206.28	0
2020-Q4	Decreased	121,102	-1.8%	$120.4M	0.1%	$994.29	0
2020-Q3	Decreased	123,343	-16.8%	$109M	0.1%	$883.36	0
2020-Q2	Decreased	148,184	-29.2%	$79.5M	0.1%	$536.65	0
2020-Q1	Decreased	209,320	-10.9%	$76.9M	0.1%	$367.56	0
2019-Q4	Decreased	235,019	-9.1%	$88.8M	0.1%	$377.85	0
2019-Q3	Decreased	258,633	-2.3%	$94.2M	0.1%	$364.08	0
2019-Q2	Decreased	264,801	-0.3%	$100M	0.1%	$377.76	0
2019-Q1	Decreased	265,603	-14.9%	$78.3M	0.1%	$294.73	0
2018-Q4	First report	312,238	-	$75.2M	0.1%	$240.84	0