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 |
Royal Bank of Canada
RY
|
+$647M |
| 2 |
Sony
SONY
|
+$407M |
| 3 |
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
|
+$394M |
| 4 |
SAP
SAP
|
+$333M |
| 5 |
Canadian Pacific Kansas City
CP
|
+$308M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Oracle
ORCL
|
+$1.41B |
| 2 |
NVIDIA
NVDA
|
+$1.04B |
| 3 |
Salesforce
CRM
|
+$1.02B |
| 4 |
Eli Lilly
LLY
|
+$883M |
| 5 |
JPMorgan Chase
JPM
|
+$764M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.47% |
| 2 | Financials | 18.4% |
| 3 | Industrials | 9.35% |
| 4 | Healthcare | 9.18% |
| 5 | Communication Services | 6.45% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
HSBC
HSBC
$369B
| $1.04B | 0.41% |
17,043,371
+1,430,797
| +9% | +$81.4M |
|
77
Banco Santander
SAN
$206B
| $976M | 0.39% |
117,592,077
-10,751,133
| -8% | -$80M |
|
78
iShares National Muni Bond ETF
MUB
$45.2B
| $931M | 0.37% |
8,914,935
+2,679,139
| +43% | +$279M |
|
79
Illinois Tool Works
ITW
$82.5B
| $889M | 0.35% |
3,595,146
+80,527
| +2% | +$19.5M |
|
80
Trane Technologies
TT
$102B
| $874M | 0.35% |
1,998,440
-5,115
| -0.3% | -$2.02M |
|
81
Vanguard S&P 500 ETF
VOO
$993B
| $864M | 0.34% |
1,521,821
-9,306
| -0.6% | -$4.89M |
|
82
Novartis
NVS
$292B
| $862M | 0.34% |
7,121,414
+358,282
| +5% | +$40.4M |
|
83
Danaher
DHR
$139B
| $857M | 0.34% |
4,340,636
-294,492
| -6% | -$57.1M |
|
84
Boston Scientific
BSX
$71.6B
| $828M | 0.33% |
7,705,384
+939,834
| +14% | +$95.1M |
|
85
CSX Corp
CSX
$92.3B
| $825M | 0.33% |
25,272,260
+188,363
| +0.8% | +$5.67M |
|
86
Invesco QQQ Trust
QQQ
$469B
| $799M | 0.32% |
1,448,522
-68,582
| -5% | -$34.1M |
|
|
NVO
87
Novo Nordisk
NVO
$208B
| $759M | 0.3% |
11,000,916
-870,320
| -7% | -$59.2M |
|
|
88
Royal Bank of Canada
RY
$293B
| $753M | 0.3% |
5,723,581
+5,289,330
| +1,218% | +$647M |
|
89
Deutsche Bank
DB
$69.6B
| $746M | 0.3% |
25,471,401
+6,605,750
| +35% | +$174M |
|
90
AB InBev
BUD
$166B
| $733M | 0.29% |
10,663,933
+454,621
| +4% | +$30.5M |
|
91
Emerson Electric
EMR
$86B
| $692M | 0.27% |
5,193,448
+1,561,600
| +43% | +$179M |
|
92
Banco Bilbao Vizcaya Argentaria
BBVA
$156B
| $637M | 0.25% |
41,422,112
-2,179,615
| -5% | -$31.4M |
|
93
Sanofi
SNY
$103B
| $635M | 0.25% |
13,135,366
-430,963
| -3% | -$22M |
|
94
Lloyds Banking Group
LYG
$90.6B
| $633M | 0.25% |
148,828,623
+16,705,846
| +13% | +$66.4M |
|
95
Alibaba
BABA
$306B
| $597M | 0.24% |
5,267,441
+390,883
| +8% | +$46.3M |
|
96
iShares Global Healthcare ETF
IXJ
$4.08B
| $594M | 0.24% |
6,903,794
-390,064
| -5% | -$33.6M |
|
97
Ingersoll Rand
IR
$33.9B
| $575M | 0.23% |
6,913,924
+38,999
| +0.6% | +$3.07M |
|
98
Crown Castle
CCI
$34B
| $550M | 0.22% |
5,349,349
+90,165
| +2% | +$9.13M |
|
99
NatWest
NWG
$76.8B
| $531M | 0.21% |
37,531,392
+4,355,850
| +13% | +$57.6M |
|
100
Vanguard FTSE Developed Markets ETF
VEA
$230B
| $529M | 0.21% |
9,282,597
+1,070,605
| +13% | +$57.3M |
|
Similar funds
Ken Fisher's Q2 2025 Portfolio in Review
As of Q2 2025, Ken Fisher held 1,093 positions worth $252B, up 9% from $231B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
Ken Fisher's Q2 2025 filing shows 94 new, 337 increased, 522 reduced and 107 closed positions. Its largest new stake was Canadian National Railway: 1,823,800 shares worth $190M. The largest sale was Oracle, an estimated $1.41B.
By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 24% a quarter earlier, followed by Financials and Industrials.
- Ken Fisher's largest Q2 2025 buy was Canadian National Railway: 1,823,800 shares worth $190M.
- Ken Fisher added most to Royal Bank of Canada in Q2 2025, an estimated $647M increase.
- Ken Fisher's biggest Q2 2025 reduction was Oracle, cutting an estimated $1.41B.
- Ken Fisher fully exited Tenable Holdings in Q2 2025, selling an estimated $43.2M.
- Ken Fisher's ten largest holdings make up 31% of its $252B portfolio in Q2 2025.
- Ken Fisher opened 94 new positions and closed 107 in Q2 2025.
- Ken Fisher's portfolio value rose 9% quarter-over-quarter to $252B.
Based on Fisher Asset Management's 13F filing for Q2 2025, filed 13 Aug 2025.