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 |
iShares 7-10 Year Treasury Bond ETF
IEF
|
+$4.56B |
| 2 |
Broadcom
AVGO
|
+$441M |
| 3 |
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
|
+$281M |
| 4 |
NVIDIA
NVDA
|
+$278M |
| 5 |
Microsoft
MSFT
|
+$230M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares MBS ETF
MBB
|
+$2.05B |
| 2 |
State Street SPDR Portfolio Long Term Treasury ETF
SPTL
|
+$1.6B |
| 3 |
Lennox International
LII
|
+$284M |
| 4 |
Itaú Unibanco
ITUB
|
+$247M |
| 5 |
Intuit
INTU
|
+$160M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.35% |
| 2 | Financials | 19.13% |
| 3 | Healthcare | 9.52% |
| 4 | Industrials | 9.41% |
| 5 | Communication Services | 6.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
551
Prologis
PLD
$133B
| $2.16M | ﹤0.01% |
16,891
+2,311
| +16% | +$288K |
|
552
BioMarin Pharmaceuticals
BMRN
$12.4B
| $2.1M | ﹤0.01% |
35,290
+3,564
| +11% | +$194K |
|
553
L3Harris
LHX
$53.4B
| $2.08M | ﹤0.01% |
7,071
+4,310
| +156% | +$1.25M |
|
|
CFLT
554
DELISTED
Confluent
CFLT
| $2.07M | ﹤0.01% |
+68,545
| New | +$1.68M |
|
555
Western Digital
WDC
$150B
| $2.07M | ﹤0.01% |
+11,991
| New | +$1.82M |
|
556
Roper Technologies
ROP
$39.8B
| $2.05M | ﹤0.01% |
4,597
-501
| -10% | -$232K |
|
557
Mizuho Financial
MFG
$130B
| $2.04M | ﹤0.01% |
278,709
-750
| -0.3% | -$5.13K |
|
558
Synchrony
SYF
$25.6B
| $2.01M | ﹤0.01% |
24,076
+376
| +2% | +$28.7K |
|
559
Build-A-Bear
BBW
$462M
| $2M | ﹤0.01% |
32,664
-1,715
| -5% | -$93.3K |
|
560
iShares Semiconductor ETF
SOXX
$48.7B
| $1.99M | ﹤0.01% |
6,618
-356
| -5% | -$105K |
|
561
QCR Holdings
QCRH
$1.7B
| $1.98M | ﹤0.01% |
23,762
-2,618
| -10% | -$206K |
|
|
CPRX
562
DELISTED
Catalyst Pharmaceutical
CPRX
| $1.93M | ﹤0.01% |
82,832
-305
| -0.4% | -$6.79K |
|
563
KeyCorp
KEY
$24.4B
| $1.9M | ﹤0.01% |
92,199
-2,246
| -2% | -$41.8K |
|
564
Old Second Bancorp
OSBC
$1.29B
| $1.9M | ﹤0.01% |
97,285
-5,220
| -5% | -$97.5K |
|
565
Hormel Foods
HRL
$13.8B
| $1.88M | ﹤0.01% |
79,493
+22,558
| +40% | +$527K |
|
566
CNB Financial Corp
CCNE
$1.03B
| $1.87M | ﹤0.01% |
71,344
-3,831
| -5% | -$97.2K |
|
567
Gorman-Rupp
GRC
$2.21B
| $1.86M | ﹤0.01% |
38,916
-4,204
| -10% | -$196K |
|
568
American Public Education
APEI
$940M
| $1.85M | ﹤0.01% |
48,988
-2,744
| -5% | -$98.2K |
|
569
NextEra Energy
NEE
$177B
| $1.83M | ﹤0.01% |
22,822
+2,064
| +10% | +$171K |
|
570
Oppenheimer Holdings
OPY
$1.2B
| $1.83M | ﹤0.01% |
25,286
-1,378
| -5% | -$95.9K |
|
571
Stepan Co
SCL
$1.48B
| $1.82M | ﹤0.01% |
38,365
+5
| +0% | +$229 |
|
572
National Grid
NGG
$81.3B
| $1.81M | ﹤0.01% |
23,418
-37
| -0.2% | -$2.78K |
|
573
Vanguard Total International Stock ETF
VXUS
$160B
| $1.81M | ﹤0.01% |
24,005
-25,276
| -51% | -$1.89M |
|
574
Zymeworks
ZYME
$1.67B
| $1.8M | ﹤0.01% |
68,197
-3,777
| -5% | -$82.4K |
|
|
DAWN
575
DELISTED
Day One Biopharmaceuticals
DAWN
| $1.79M | ﹤0.01% |
191,823
-28,340
| -13% | -$237K |
|
Similar funds
Fisher Asset Management's Q4 2025 Portfolio in Review
As of Q4 2025, Fisher Asset Management held 1,126 positions worth $293B, up 6% from $276B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Fisher Asset Management's Q4 2025 filing shows 112 new, 480 increased, 403 reduced and 109 closed positions. Its largest new stake was Belden: 369,776 shares worth $43.1M. The largest sale was iShares MBS ETF, an estimated $2.05B.
By sector, the portfolio is most concentrated in Technology at 25% of assets, down from 26% a quarter earlier, followed by Financials and Healthcare.
- Fisher Asset Management's largest Q4 2025 buy was Belden: 369,776 shares worth $43.1M.
- Fisher Asset Management added most to iShares 7-10 Year Treasury Bond ETF in Q4 2025, an estimated $4.56B increase.
- Fisher Asset Management's biggest Q4 2025 reduction was iShares MBS ETF, cutting an estimated $2.05B.
- Fisher Asset Management fully exited Infosys in Q4 2025, selling an estimated $146M.
- Fisher Asset Management's ten largest holdings make up 34% of its $293B portfolio in Q4 2025.
- Fisher Asset Management opened 112 new positions and closed 109 in Q4 2025.
- Fisher Asset Management's portfolio value rose 6% quarter-over-quarter to $293B.
Based on Fisher Asset Management's 13F filing for Q4 2025, filed 9 Feb 2026.