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 |
Royal Bank of Canada
RY
|
+$647M |
| 2 |
Sony
SONY
|
+$407M |
| 3 |
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
|
+$394M |
| 4 |
SAP
SAP
|
+$333M |
| 5 |
Canadian Pacific Kansas City
CP
|
+$308M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Oracle
ORCL
|
+$1.41B |
| 2 |
NVIDIA
NVDA
|
+$1.04B |
| 3 |
Salesforce
CRM
|
+$1.02B |
| 4 |
Eli Lilly
LLY
|
+$883M |
| 5 |
JPMorgan Chase
JPM
|
+$764M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.47% |
| 2 | Financials | 18.4% |
| 3 | Miscellaneous | 11.05% |
| 4 | Industrials | 9.35% |
| 5 | Healthcare | 9.18% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
NVIDIA
NVDA
$5.54T
| $13B | 5.18% |
82,511,422
-8,229,696
| -9% | -$1.04B |
2017 Q4
30 quarters
|
|
2
Microsoft
MSFT
$3.97T
| $12.1B | 4.8% |
24,297,369
-900,270
| -4% | -$391M |
2013 Q2
48 quarters
|
|
3
Apple
AAPL
$4.91T
| $11B | 4.36% |
53,555,986
+267,208
| +0.5% | +$54M |
2013 Q2
48 quarters
|
|
|
4
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
$67.7B
| $8.48B | 3.37% |
102,253,864
+4,850,259
| +5% | +$394M |
2013 Q2
48 quarters
|
|
5
Amazon
AMZN
$2.83T
| $7.13B | 2.83% |
32,482,019
-96,884
| -0.3% | -$19.2M |
2013 Q2
48 quarters
|
|
6
Alphabet (Google) Class A
GOOGL
$4.3T
| $6.47B | 2.57% |
36,685,062
-331,249
| -0.9% | -$54.2M |
2015 Q4
38 quarters
|
|
7
iShares 7-10 Year Treasury Bond ETF
IEF
$41.3B
| $5.52B | 2.19% |
57,650,891
+2,686,141
| +5% | +$254M |
2021 Q1
17 quarters
|
|
8
Meta Platforms (Facebook)
META
$1.83T
| $4.69B | 1.86% |
6,356,667
-94,181
| -1% | -$58.2M |
2014 Q1
45 quarters
|
|
9
Goldman Sachs
GS
$261B
| $4.63B | 1.84% |
6,539,746
+227,604
| +4% | +$132M |
2013 Q2
48 quarters
|
|
|
10
JPMorgan Chase
JPM
$885B
| $4.46B | 1.77% |
15,375,410
-2,993,722
| -16% | -$764M |
2013 Q2
48 quarters
|
|
|
11
SAP
SAP
$248B
| $4.31B | 1.71% |
14,157,321
+1,163,616
| +9% | +$333M |
2013 Q2
48 quarters
|
|
12
TSMC
TSM
$2.35T
| $4B | 1.59% |
17,664,956
-340,387
| -2% | -$63.1M |
2013 Q2
48 quarters
|
|
13
Walmart Inc
WMT
$883B
| $3.88B | 1.54% |
39,664,412
-253,517
| -0.6% | -$24.2M |
2013 Q2
48 quarters
|
|
14
Caterpillar
CAT
$368B
| $3.66B | 1.45% |
9,418,321
+208,196
| +2% | +$69.4M |
2013 Q2
48 quarters
|
|
15
Home Depot
HD
$290B
| $3.64B | 1.45% |
9,933,082
+255,504
| +3% | +$92.5M |
2013 Q2
48 quarters
|
|
16
Broadcom
AVGO
$1.73T
| $3.41B | 1.35% |
12,374,445
-38,108
| -0.3% | -$8.28M |
2017 Q4
30 quarters
|
|
17
ASML
ASML
$684B
| $3.4B | 1.35% |
4,244,254
+250,934
| +6% | +$180M |
2013 Q2
48 quarters
|
|
18
Morgan Stanley
MS
$298B
| $3.39B | 1.34% |
24,045,186
+749,150
| +3% | +$92M |
2013 Q2
48 quarters
|
|
|
19
Eli Lilly
LLY
$1.05T
| $3.35B | 1.33% |
4,302,467
-1,135,979
| -21% | -$883M |
2013 Q4
46 quarters
|
|
20
ExxonMobil
XOM
$695B
| $3.33B | 1.32% |
30,853,708
+438,345
| +1% | +$46.9M |
2013 Q2
48 quarters
|
|
21
Costco
COST
$420B
| $3.08B | 1.22% |
3,110,415
-20,824
| -0.7% | -$20.7M |
2014 Q3
43 quarters
|
|
22
RTX Corp
RTX
$251B
| $3.01B | 1.19% |
20,599,190
+837,268
| +4% | +$112M |
2013 Q2
48 quarters
|
|
23
Chevron
CVX
$416B
| $2.98B | 1.18% |
20,826,805
+378,936
| +2% | +$53.4M |
2013 Q2
48 quarters
|
|
24
American Express
AXP
$208B
| $2.79B | 1.11% |
8,734,960
-237,553
| -3% | -$66.9M |
2013 Q2
48 quarters
|
|
25
Citigroup
C
$217B
| $2.74B | 1.09% |
32,161,457
+988,152
| +3% | +$71.4M |
2013 Q2
48 quarters
|
|
Similar funds
Fisher Asset Management's Q2 2025 Portfolio in Review
As of Q2 2025, Fisher Asset Management held 1,093 positions worth $252B, up 9% from $231B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Fisher Asset Management's Q2 2025 filing shows 94 new, 337 increased, 522 reduced and 107 closed positions. Its largest new stake was Canadian National Railway: 1,823,800 shares worth $190M. The largest sale was Oracle, an estimated $1.41B.
By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 24% a quarter earlier, followed by Financials and Miscellaneous.
- Fisher Asset Management's largest Q2 2025 buy was Canadian National Railway: 1,823,800 shares worth $190M.
- Fisher Asset Management added most to Royal Bank of Canada in Q2 2025, an estimated $647M increase.
- Fisher Asset Management's biggest Q2 2025 reduction was Oracle, cutting an estimated $1.41B.
- Fisher Asset Management fully exited Tenable Holdings in Q2 2025, selling an estimated $43.2M.
- Fisher Asset Management's ten largest holdings make up 31% of its $252B portfolio in Q2 2025.
- Fisher Asset Management opened 94 new positions and closed 107 in Q2 2025.
- Fisher Asset Management's portfolio value rose 9% quarter-over-quarter to $252B.
Based on Fisher Asset Management's 13F filing for Q2 2025, filed 13 Aug 2025.