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 | |
|---|---|---|---|---|---|---|
|
NUVL
401
DELISTED
Nuvalent
NUVL
| $10.1M | ﹤0.01% |
100,706
-5,718
| -5% | -$564K |
|
402
The Greenbrier Companies
GBX
$1.48B
| $10M | ﹤0.01% |
214,162
-26,867
| -11% | -$1.2M |
|
403
iShares ESG Aware MSCI USA ETF
ESGU
$18.3B
| $9.59M | ﹤0.01% |
64,403
-7,443
| -10% | -$1.1M |
|
404
Associated Banc-Corp
ASB
$5.88B
| $9.23M | ﹤0.01% |
358,120
+1,120
| +0.3% | +$28.8K |
|
405
Williams-Sonoma
WSM
$29.1B
| $9.22M | ﹤0.01% |
51,625
-2,822
| -5% | -$529K |
|
406
First Interstate BancSystem
FIBK
$3.57B
| $9.2M | ﹤0.01% |
265,894
-20
| -0% | -$654 |
|
407
General Motors
GM
$76.3B
| $9.18M | ﹤0.01% |
112,938
-8,477
| -7% | -$598K |
|
408
Cleveland-Cliffs
CLF
$6.98B
| $8.92M | ﹤0.01% |
671,772
-207,591
| -24% | -$2.62M |
|
|
ONT
409
Onterris Inc
ONT
$530M
| $8.75M | ﹤0.01% |
352,569
+94,697
| +37% | +$2.5M |
|
|
DVAX
410
DELISTED
Dynavax Technologies
DVAX
| $8.75M | ﹤0.01% |
569,018
-34,349
| -6% | -$378K |
|
411
Bentley Systems
BSY
$10.7B
| $8.65M | ﹤0.01% |
226,610
+54,805
| +32% | +$2.5M |
|
412
Hewlett Packard
HPE
$69.4B
| $8.47M | ﹤0.01% |
352,515
+343,816
| +3,952% | +$8.1M |
|
413
Yum! Brands
YUM
$41.6B
| $8.42M | ﹤0.01% |
55,671
-7,186
| -11% | -$1.06M |
|
414
Worthington Steel
WS
$1.89B
| $8.25M | ﹤0.01% |
238,338
+46,665
| +24% | +$1.53M |
|
415
Incyte
INCY
$24B
| $8.02M | ﹤0.01% |
81,174
+41,225
| +103% | +$3.99M |
|
416
GE Aerospace
GE
$389B
| $7.9M | ﹤0.01% |
25,650
+7,549
| +42% | +$2.27M |
|
417
Viavi Solutions
VIAV
$10B
| $7.9M | ﹤0.01% |
443,296
-26,058
| -6% | -$421K |
|
418
M&T Bank
MTB
$36.1B
| $7.9M | ﹤0.01% |
39,194
+2,979
| +8% | +$569K |
|
419
Chord Energy
CHRD
$7.46B
| $7.72M | ﹤0.01% |
83,282
-336
| -0.4% | -$31.1K |
|
420
Independent Bank
INDB
$4B
| $7.72M | ﹤0.01% |
105,630
-38,684
| -27% | -$2.75M |
|
421
State Street SPDR S&P Capital Markets ETF
KCE
$466M
| $7.61M | ﹤0.01% |
50,784
-1,066
| -2% | -$158K |
|
422
CBRE Group
CBRE
$42.7B
| $7.52M | ﹤0.01% |
46,751
+3,218
| +7% | +$506K |
|
423
Citizens Financial Group
CFG
$30.5B
| $7.5M | ﹤0.01% |
128,424
+7,062
| +6% | +$379K |
|
424
Acadia Realty Trust
AKR
$2.84B
| $7.46M | ﹤0.01% |
363,019
+8
| +0% | +$159 |
|
425
Myriad Genetics
MYGN
$304M
| $7.42M | ﹤0.01% |
1,207,019
-71,908
| -6% | -$521K |
|
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.