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 | |
|---|---|---|---|---|---|---|
51
Spotify
SPOT
$98.3B
| $1.55B | 0.53% |
2,665,512
+62,887
| +2% | +$39.3M |
|
|
52
Intuit
INTU
$88.5B
| $1.51B | 0.52% |
2,284,310
-242,597
| -10% | -$160M |
|
53
Toyota
TM
$224B
| $1.5B | 0.51% |
6,995,672
+86,474
| +1% | +$17.5M |
|
54
ING
ING
$101B
| $1.49B | 0.51% |
53,221,109
-3,919,845
| -7% | -$101M |
|
55
Union Pacific
UNP
$173B
| $1.49B | 0.51% |
6,430,808
+2,579
| +0% | +$589K |
|
56
Mitsubishi UFJ Financial
MUFG
$254B
| $1.48B | 0.5% |
93,276,119
+1,789,620
| +2% | +$27.7M |
|
57
Canadian Natural Resources
CNQ
$96.7B
| $1.45B | 0.49% |
42,745,981
+1,342,954
| +3% | +$43.5M |
|
58
Abbott
ABT
$185B
| $1.43B | 0.49% |
11,440,255
-592,629
| -5% | -$75.5M |
|
59
BHP
BHP
$222B
| $1.41B | 0.48% |
23,402,474
+252,825
| +1% | +$14.4M |
|
60
HSBC
HSBC
$364B
| $1.4B | 0.48% |
17,800,748
+402,288
| +2% | +$28.8M |
|
61
ConocoPhillips
COP
$145B
| $1.39B | 0.47% |
14,847,367
+193,401
| +1% | +$17.5M |
|
62
Adobe
ADBE
$102B
| $1.39B | 0.47% |
3,961,853
-272,625
| -6% | -$92.7M |
|
63
iShares MSCI Europe Financials ETF
EUFN
$4.27B
| $1.37B | 0.47% |
37,017,326
+1,084,716
| +3% | +$37.7M |
|
64
Unilever
UL
$138B
| $1.35B | 0.46% |
20,658,738
+625,034
| +3% | +$42M |
|
65
Deere & Co
DE
$163B
| $1.33B | 0.45% |
2,853,156
+131,138
| +5% | +$61.5M |
|
66
Pfizer
PFE
$145B
| $1.29B | 0.44% |
51,952,106
+2,664,052
| +5% | +$67.2M |
|
67
ServiceNow
NOW
$122B
| $1.28B | 0.44% |
8,351,824
+71,714
| +0.9% | +$12.3M |
|
68
TotalEnergies
TTE
$189B
| $1.26B | 0.43% |
19,324,336
-639,496
| -3% | -$40.4M |
|
69
Boeing
BA
$187B
| $1.22B | 0.42% |
5,640,900
+135,860
| +2% | +$27.9M |
|
70
PepsiCo
PEP
$190B
| $1.19B | 0.41% |
8,295,329
+183,291
| +2% | +$26.9M |
|
71
iShares National Muni Bond ETF
MUB
$45.4B
| $1.15B | 0.39% |
10,713,817
+988,044
| +10% | +$106M |
|
72
Banco Santander
SAN
$207B
| $1.14B | 0.39% |
96,865,591
-10,763,516
| -10% | -$114M |
|
73
Salesforce
CRM
$156B
| $1.13B | 0.39% |
4,278,477
-49,753
| -1% | -$12.4M |
|
74
Stryker
SYK
$131B
| $1.1B | 0.37% |
3,117,283
-192,839
| -6% | -$70.3M |
|
75
Royal Bank of Canada
RY
$292B
| $1.09B | 0.37% |
6,373,400
+368,534
| +6% | +$56.6M |
|
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.