Ken Fisher Fisher Asset Management
Ken Fisher is the founder and executive chairman of Fisher Investments, a global money management firm overseeing billions of dollars in assets. He gained early recognition for pioneering the use of the price-to-sales ratio in stock analysis and wrote the long-running “Portfolio Strategy” column in Forbes. Over the years, Fisher has authored numerous books on investing and wealth management, many of which have become bestsellers.
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 | |
|---|---|---|---|---|---|---|
226
Fidelity Nasdaq Composite Index ETF
ONEQ
$10.8B
| $54.6M | 0.02% |
597,506
-32,411
| -5% | -$2.95M |
|
227
Piper Sandler
PIPR
$5.02B
| $54.6M | 0.02% |
642,464
-19,264
| -3% | -$1.63M |
|
228
Otis Worldwide
OTIS
$28.1B
| $54.5M | 0.02% |
624,003
-24,864
| -4% | -$2.22M |
|
229
Home BancShares
HOMB
$6.18B
| $54.4M | 0.02% |
1,956,928
-125,604
| -6% | -$3.48M |
|
230
United Rentals
URI
$72.4B
| $54M | 0.02% |
66,734
+6,020
| +10% | +$5.23M |
|
231
Macerich
MAC
$6.66B
| $53.4M | 0.02% |
2,893,633
+18,408
| +0.6% | +$324K |
|
232
ICICI Bank
IBN
$109B
| $53.2M | 0.02% |
1,783,698
+248,826
| +16% | +$7.63M |
|
233
Acushnet Holdings
GOLF
$5.5B
| $52.8M | 0.02% |
661,099
-43,052
| -6% | -$3.49M |
|
234
Cytokinetics
CYTK
$11B
| $52.3M | 0.02% |
822,885
+61,298
| +8% | +$3.81M |
|
235
Veeco
VECO
$3.15B
| $52M | 0.02% |
1,820,357
+495,767
| +37% | +$14.7M |
|
236
Biogen
BIIB
$30.5B
| $51.6M | 0.02% |
293,269
+15,984
| +6% | +$2.61M |
|
237
iShares MSCI United Kingdom ETF
EWU
$4.13B
| $51.2M | 0.02% |
1,163,974
-38,192
| -3% | -$1.64M |
|
238
Helmerich & Payne
HP
$3.7B
| $49.7M | 0.02% |
1,731,208
+25,085
| +1% | +$666K |
|
239
Vanguard Information Technology ETF
VGT
$147B
| $49.5M | 0.02% |
525,560
-12,840
| -2% | -$1.22M |
|
240
Fabrinet
FN
$19.5B
| $48.4M | 0.02% |
106,224
+104,684
| +6,798% | +$45.5M |
|
241
Rambus
RMBS
$10.6B
| $47.5M | 0.02% |
517,278
+364,396
| +238% | +$35.9M |
|
242
EnerSys
ENS
$6.83B
| $47M | 0.02% |
320,360
-38,404
| -11% | -$5.13M |
|
243
iShares 1-3 Year Treasury Bond ETF
SHY
$25.1B
| $46.9M | 0.02% |
566,873
+65,456
| +13% | +$5.43M |
|
244
Arcus Biosciences
RCUS
$3.56B
| $46.5M | 0.02% |
1,949,788
+1,220,635
| +167% | +$24.9M |
|
245
Zurn Elkay Water Solutions
ZWS
$8.6B
| $45.6M | 0.02% |
981,679
-40,195
| -4% | -$1.89M |
|
246
United Bankshares
UBSI
$6.65B
| $45.4M | 0.02% |
1,182,941
-92,484
| -7% | -$3.44M |
|
247
Webster Financial
WBS
$12.8B
| $45.2M | 0.02% |
717,424
-24,160
| -3% | -$1.43M |
|
248
Belden
BDC
$5.05B
| $43.1M | 0.01% |
+369,776
| New | +$43.1M |
|
249
Boot Barn
BOOT
$4.97B
| $42.8M | 0.01% |
242,747
+14,738
| +6% | +$2.75M |
|
250
Denali Therapeutics
DNLI
$3.92B
| $42.8M | 0.01% |
2,589,403
+957,907
| +59% | +$16.2M |
|
Similar funds
Ken Fisher's Q4 2025 Portfolio in Review
As of Q4 2025, Ken Fisher held 1,126 positions worth $293B, up 6% from $276B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
Ken Fisher'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.
- Ken Fisher's largest Q4 2025 buy was Belden: 369,776 shares worth $43.1M.
- Ken Fisher added most to iShares 7-10 Year Treasury Bond ETF in Q4 2025, an estimated $4.56B increase.
- Ken Fisher's biggest Q4 2025 reduction was iShares MBS ETF, cutting an estimated $2.05B.
- Ken Fisher fully exited Infosys in Q4 2025, selling an estimated $146M.
- Ken Fisher's ten largest holdings make up 34% of its $293B portfolio in Q4 2025.
- Ken Fisher opened 112 new positions and closed 109 in Q4 2025.
- Ken Fisher'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.