Fisher Asset Management Portfolio holdings
Fisher Asset Management, LLC, operating as Fisher Investments, was founded in 1979 by Ken Fisher and is headquartered in Plano, Texas, following a relocation from Camas, Washington, in 2023. As an independent, fee-only investment adviser, it manages over $275 billion in assets for individual and institutional investors globally as of June 2024, offering tailored portfolio management through its Private Client Group and Institutional Group. Known for its active, top-down investment approach guided by a five-member Investment Policy Committee, the firm emphasizes asset allocation and has expanded internationally with offices in eight countries, including a wholly owned subsidiary, Fisher Investments Europe Limited, in London. With Ken Fisher as executive chairman and co-chief investment officer, succeeded as CEO by Damian Ornani in 2016, Fisher Investments blends a legacy of innovation with a client-first philosophy, recently spinning off its 401(k) Solutions into Fisher Retirement Solutions in 2024.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SAP
SAP
|
+$2.15B |
| 2 |
UBS Group
UBS
|
+$1.53B |
| 3 |
BP
BP
|
+$1.23B |
| 4 |
Spotify
SPOT
|
+$1.13B |
| 5 |
Barclays
BCS
|
+$1.09B |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amazon
AMZN
|
+$2.73B |
| 2 |
Advanced Micro Devices
AMD
|
+$2.53B |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$2.47B |
| 4 |
Broadcom
AVGO
|
+$2.43B |
| 5 |
Netflix
NFLX
|
+$2.34B |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 24.26% |
| 2 | Financials | 16.92% |
| 3 | Healthcare | 11.65% |
| 4 | Industrials | 8.55% |
| 5 | Energy | 7.12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Apple
AAPL
$4.57T
| $11.8B | 5.12% |
53,288,778
-6,001,266
| -10% | -$1.39B |
|
2
NVIDIA
NVDA
$5.42T
| $9.83B | 4.26% |
90,741,118
-7,598,261
| -8% | -$963M |
|
3
Microsoft
MSFT
$3.71T
| $9.46B | 4.09% |
25,197,639
-3,030,863
| -11% | -$1.24B |
|
4
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
$66.3B
| $7.96B | 3.45% |
97,403,605
+4,619,654
| +5% | +$374M |
|
|
5
Amazon
AMZN
$2.96T
| $6.2B | 2.68% |
32,578,903
-12,580,834
| -28% | -$2.73B |
|
|
6
Alphabet (Google) Class A
GOOGL
$4.33T
| $5.72B | 2.48% |
37,016,311
-13,598,727
| -27% | -$2.47B |
|
7
iShares 7-10 Year Treasury Bond ETF
IEF
$47.3B
| $5.24B | 2.27% |
54,964,750
+5,744,750
| +12% | +$537M |
|
8
JPMorgan Chase
JPM
$950B
| $4.51B | 1.95% |
18,369,132
+967,696
| +6% | +$247M |
|
9
Eli Lilly
LLY
$1.06T
| $4.49B | 1.94% |
5,438,446
+202,338
| +4% | +$168M |
|
10
Meta Platforms (Facebook)
META
$1.51T
| $3.72B | 1.61% |
6,450,848
-224,326
| -3% | -$145M |
|
11
ExxonMobil
XOM
$634B
| $3.62B | 1.57% |
30,415,363
+583,794
| +2% | +$64.6M |
|
12
Home Depot
HD
$355B
| $3.55B | 1.54% |
9,677,578
+125,488
| +1% | +$48.9M |
|
13
Walmart Inc
WMT
$890B
| $3.5B | 1.52% |
39,917,929
-8,875,116
| -18% | -$833M |
|
|
14
SAP
SAP
$238B
| $3.49B | 1.51% |
12,993,705
+7,875,567
| +154% | +$2.15B |
|
15
Goldman Sachs
GS
$303B
| $3.45B | 1.49% |
6,312,142
+156,806
| +3% | +$94.4M |
|
16
Chevron
CVX
$366B
| $3.42B | 1.48% |
20,447,869
+555,021
| +3% | +$86.9M |
|
17
Caterpillar
CAT
$387B
| $3.04B | 1.31% |
9,210,125
+128,350
| +1% | +$45.7M |
|
18
TSMC
TSM
$2.18T
| $2.99B | 1.29% |
18,005,343
-10,346,607
| -36% | -$2.01B |
|
19
Costco
COST
$420B
| $2.96B | 1.28% |
3,131,239
+53,334
| +2% | +$52M |
|
20
UnitedHealth
UNH
$370B
| $2.75B | 1.19% |
5,250,580
+1,816,113
| +53% | +$928M |
|
21
Morgan Stanley
MS
$340B
| $2.72B | 1.18% |
23,296,036
+462,099
| +2% | +$59.5M |
|
22
ASML
ASML
$669B
| $2.65B | 1.15% |
3,993,320
+831,034
| +26% | +$605M |
|
23
RTX Corp
RTX
$301B
| $2.62B | 1.13% |
19,761,922
+714,237
| +4% | +$90.6M |
|
24
Visa
V
$677B
| $2.5B | 1.08% |
7,142,524
-2,616,179
| -27% | -$885M |
|
25
Oracle
ORCL
$423B
| $2.46B | 1.07% |
17,601,888
-393,776
| -2% | -$64.1M |
|
Similar funds
Fisher Asset Management's Q1 2025 Portfolio in Review
As of Q1 2025, Fisher Asset Management held 1,092 positions worth $231B, down 8.1% from $251B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
Fisher Asset Management withdrew a net $11.5B in Q1 2025, closing 93 positions and reducing 435 holdings. Its most notable exit was United Microelectronic, an estimated $47.4M position sold in full.
By sector, the portfolio is most concentrated in Technology at 24% of assets, down from 30% a quarter earlier, followed by Financials and Healthcare.
Against the trend, Fisher Asset Management opened a new position in Spotify worth $1.12B.
- Fisher Asset Management's largest Q1 2025 buy was Spotify: 2,028,898 shares worth $1.12B.
- Fisher Asset Management added most to SAP in Q1 2025, an estimated $2.15B increase.
- Fisher Asset Management's biggest Q1 2025 reduction was Amazon, cutting an estimated $2.73B.
- Fisher Asset Management fully exited United Microelectronic in Q1 2025, selling an estimated $47.4M.
- Fisher Asset Management's ten largest holdings make up 30% of its $231B portfolio in Q1 2025.
- Fisher Asset Management opened 117 new positions and closed 93 in Q1 2025.
- Fisher Asset Management's portfolio value fell 8.1% quarter-over-quarter to $231B.
Based on Fisher Asset Management's 13F filing for Q1 2025, filed 14 May 2025.