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 | |
|---|---|---|---|---|---|---|
76
Deutsche Bank
DB
$71.5B
| $1.06B | 0.36% |
27,398,661
+966,655
| +4% | +$34.9M |
|
77
Novartis
NVS
$294B
| $1.03B | 0.35% |
7,465,850
+226,484
| +3% | +$29.7M |
|
78
Danaher
DHR
$140B
| $1.02B | 0.35% |
4,446,976
+77,757
| +2% | +$17.1M |
|
79
Starbucks
SBUX
$121B
| $1.01B | 0.35% |
12,028,803
+3,063
| +0% | +$258K |
|
80
Vanguard S&P 500 ETF
VOO
$1.01T
| $973M | 0.33% |
1,551,244
+8,066
| +0.5% | +$5.01M |
|
81
CSX Corp
CSX
$94.7B
| $961M | 0.33% |
26,515,831
+660,157
| +3% | +$23.6M |
|
82
Emerson Electric
EMR
$91B
| $954M | 0.33% |
7,191,118
+928,548
| +15% | +$123M |
|
83
Illinois Tool Works
ITW
$85.5B
| $913M | 0.31% |
3,705,081
+54,519
| +1% | +$13.6M |
|
84
Boston Scientific
BSX
$69.2B
| $871M | 0.3% |
9,138,216
+677,191
| +8% | +$66.4M |
|
85
Invesco QQQ Trust
QQQ
$480B
| $831M | 0.28% |
1,352,626
-43,857
| -3% | -$26.9M |
|
86
Lloyds Banking Group
LYG
$90.7B
| $802M | 0.27% |
151,258,982
+1,300,718
| +0.9% | +$6.3M |
|
87
Banco Bilbao Vizcaya Argentaria
BBVA
$155B
| $791M | 0.27% |
33,954,738
-4,355,477
| -11% | -$91M |
|
88
iShares Global Healthcare ETF
IXJ
$4.13B
| $782M | 0.27% |
8,032,598
+592,677
| +8% | +$56.1M |
|
89
Alibaba
BABA
$308B
| $782M | 0.27% |
5,335,894
+42,297
| +0.8% | +$6.89M |
|
90
Carrier Global
CARR
$53.9B
| $782M | 0.27% |
14,795,099
-344,041
| -2% | -$19.1M |
|
91
Trane Technologies
TT
$106B
| $763M | 0.26% |
1,960,522
-23,149
| -1% | -$9.57M |
|
92
Suncor Energy
SU
$74.2B
| $746M | 0.25% |
16,820,924
+1,289,959
| +8% | +$54.5M |
|
93
AB InBev
BUD
$168B
| $729M | 0.25% |
11,380,404
+368,721
| +3% | +$22.9M |
|
94
NatWest
NWG
$76.5B
| $716M | 0.24% |
40,912,201
+1,677,879
| +4% | +$26.6M |
|
95
iShares Global Energy ETF
IXC
$2.75B
| $618M | 0.21% |
14,729,493
+1,127,201
| +8% | +$47.3M |
|
96
Vanguard FTSE Developed Markets ETF
VEA
$234B
| $591M | 0.2% |
9,468,021
+37,313
| +0.4% | +$2.29M |
|
97
Sanofi
SNY
$103B
| $588M | 0.2% |
12,140,615
-438,131
| -3% | -$21.7M |
|
98
PACCAR
PCAR
$70.2B
| $556M | 0.19% |
5,073,161
-34,795
| -0.7% | -$3.57M |
|
99
Ingersoll Rand
IR
$34.9B
| $549M | 0.19% |
6,927,262
-15,449
| -0.2% | -$1.22M |
|
100
Alphabet (Google) Class C
GOOG
$4.4T
| $540M | 0.18% |
1,720,004
+8,761
| +0.5% | +$2.51M |
|
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.