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 | |
|---|---|---|---|---|---|---|
801
Xcel Energy
XEL
$48.1B
| $432K | ﹤0.01% |
5,843
+1,860
| +47% | +$147K |
|
802
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$46.9B
| $432K | ﹤0.01% |
4,722
+1,035
| +28% | +$94.8K |
|
803
Fidelity Total Bond ETF
FBND
$27.2B
| $429K | ﹤0.01% |
9,318
-4
| -0% | -$186 |
|
804
eBay
EBAY
$48.9B
| $428K | ﹤0.01% |
4,919
+2,460
| +100% | +$213K |
|
805
Sysco
SYY
$40.4B
| $427K | ﹤0.01% |
+5,790
| New | +$440K |
|
806
iShares JPMorgan EM Local Currency Bond ETF
LEMB
$719M
| $426K | ﹤0.01% |
10,254
+382
| +4% | +$15.9K |
|
807
Cigna
CI
$72.7B
| $425K | ﹤0.01% |
1,542
+311
| +25% | +$87.2K |
|
808
Cheniere Energy
LNG
$54.9B
| $423K | ﹤0.01% |
2,176
+418
| +24% | +$87.8K |
|
809
iShares Core S&P Total US Stock Market ETF
ITOT
$97.1B
| $418K | ﹤0.01% |
2,813
-1,719
| -38% | -$254K |
|
810
Celestica
CLS
$36.2B
| $415K | ﹤0.01% |
+1,405
| New | +$423K |
|
811
Paychex
PAYX
$42.7B
| $414K | ﹤0.01% |
3,694
+1,083
| +41% | +$127K |
|
812
Camden Property Trust
CPT
$11B
| $411K | ﹤0.01% |
3,738
+188
| +5% | +$19.6K |
|
813
Fidelity MSCI Consumer Staples Index ETF
FSTA
$1.42B
| $410K | ﹤0.01% |
8,333
-13
| -0.2% | -$645 |
|
814
iShares California Muni Bond ETF
CMF
$4.61B
| $410K | ﹤0.01% |
7,127
+1,447
| +25% | +$83.1K |
|
815
Sutro Biopharma
STRO
$400M
| $408K | ﹤0.01% |
35,305
+10
| +0% | +$95 |
|
816
Regency Centers
REG
$14.1B
| $407K | ﹤0.01% |
+5,899
| New | +$414K |
|
817
Vanguard Mortgage-Backed Securities ETF
VMBS
$15.4B
| $405K | ﹤0.01% |
8,605
-12,065
| -58% | -$568K |
|
818
NetApp
NTAP
$37.6B
| $405K | ﹤0.01% |
+3,779
| New | +$432K |
|
819
Arthur J. Gallagher & Co
AJG
$64.5B
| $405K | ﹤0.01% |
1,563
+632
| +68% | +$167K |
|
|
MRSH
820
Marsh
MRSH
$92.2B
| $404K | ﹤0.01% |
2,177
+580
| +36% | +$108K |
|
821
Intercontinental Exchange
ICE
$84.1B
| $401K | ﹤0.01% |
2,472
-218
| -8% | -$34.1K |
|
822
TransDigm Group
TDG
$69.8B
| $398K | ﹤0.01% |
299
+9
| +3% | +$11.8K |
|
823
iShares MSCI France ETF
EWQ
$343M
| $396K | ﹤0.01% |
8,807
-100
| -1% | -$4.45K |
|
824
Vanguard FTSE Pacific ETF
VPL
$8.32B
| $396K | ﹤0.01% |
+4,377
| New | +$396K |
|
825
Eversource Energy
ES
$27.1B
| $395K | ﹤0.01% |
5,860
+705
| +14% | +$49.5K |
|
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.