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 | |
|---|---|---|---|---|---|---|
26
UBS Group
UBS
$171B
| $2.97B | 1.01% |
64,107,264
+2,938,827
| +5% | +$119M |
|
27
Bank of America
BAC
$434B
| $2.96B | 1.01% |
53,783,821
+1,105,833
| +2% | +$58.5M |
|
28
Sony
SONY
$133B
| $2.79B | 0.95% |
108,981,588
+4,337,062
| +4% | +$122M |
|
29
Costco
COST
$421B
| $2.74B | 0.93% |
3,176,286
+31,045
| +1% | +$28.1M |
|
30
Visa
V
$681B
| $2.63B | 0.9% |
7,485,132
+125,909
| +2% | +$42.9M |
|
31
Merck
MRK
$314B
| $2.62B | 0.89% |
24,873,327
+805,201
| +3% | +$75.6M |
|
32
Mastercard
MA
$500B
| $2.49B | 0.85% |
4,355,805
+47,405
| +1% | +$26.5M |
|
33
BP
BP
$114B
| $2.31B | 0.79% |
66,431,924
+948,692
| +1% | +$33.3M |
|
34
Barclays
BCS
$93.1B
| $2.28B | 0.78% |
89,750,069
+3,722,757
| +4% | +$82.5M |
|
|
SCHW
35
Charles Schwab
SCHW
$183B
| $2.18B | 0.74% |
21,818,514
+171,926
| +0.8% | +$16.3M |
|
36
Intuitive Surgical
ISRG
$134B
| $2.14B | 0.73% |
3,784,970
-104,469
| -3% | -$55.6M |
|
37
Johnson Controls International
JCI
$88.7B
| $2.06B | 0.7% |
17,239,953
+280,704
| +2% | +$32.2M |
|
38
Shell
SHEL
$253B
| $1.99B | 0.68% |
27,142,785
+332,839
| +1% | +$24.5M |
|
39
AstraZeneca
AZN
$240B
| $1.99B | 0.68% |
10,800,717
+219,355
| +2% | +$38.5M |
|
40
Blackrock
BLK
$172B
| $1.95B | 0.67% |
1,824,359
-77,808
| -4% | -$85.1M |
|
41
Netflix
NFLX
$303B
| $1.92B | 0.66% |
20,490,399
+151,649
| +0.7% | +$16.3M |
|
42
Johnson & Johnson
JNJ
$610B
| $1.83B | 0.63% |
8,866,207
+419,799
| +5% | +$83M |
|
43
Oracle
ORCL
$402B
| $1.82B | 0.62% |
9,314,177
+269,158
| +3% | +$64.1M |
|
44
UnitedHealth
UNH
$378B
| $1.75B | 0.6% |
5,293,622
+41,173
| +0.8% | +$14M |
|
45
Cummins
CMI
$89.2B
| $1.74B | 0.59% |
3,410,723
+43,722
| +1% | +$20.4M |
|
46
Capital One
COF
$133B
| $1.68B | 0.57% |
6,937,362
-358,865
| -5% | -$79.9M |
|
47
GSK
GSK
$102B
| $1.63B | 0.56% |
33,195,985
+968,370
| +3% | +$45.2M |
|
48
Thermo Fisher Scientific
TMO
$214B
| $1.62B | 0.55% |
2,792,421
+71,320
| +3% | +$40.3M |
|
49
Rio Tinto
RIO
$155B
| $1.57B | 0.54% |
19,642,744
+522,576
| +3% | +$37.6M |
|
50
Procter & Gamble
PG
$337B
| $1.56B | 0.53% |
10,908,367
-100,087
| -0.9% | -$14.8M |
|
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.