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 | |
|---|---|---|---|---|---|---|
151
iShares Core US Aggregate Bond ETF
AGG
$138B
| $127M | 0.04% |
1,269,442
+91,607
| +8% | +$9.19M |
|
152
Acuity Brands
AYI
$10.7B
| $122M | 0.04% |
338,104
-21,177
| -6% | -$7.65M |
|
153
Applied Materials
AMAT
$424B
| $117M | 0.04% |
455,077
+179,260
| +65% | +$43M |
|
154
IDEX
IEX
$17.5B
| $117M | 0.04% |
655,587
-69,215
| -10% | -$11.8M |
|
155
Ralph Lauren
RL
$22.7B
| $116M | 0.04% |
328,565
-5,040
| -2% | -$1.72M |
|
156
State Street SPDR Nuveen ICE Municipal Bond ETF
TFI
$3.13B
| $115M | 0.04% |
2,511,565
-176,298
| -7% | -$8.06M |
|
157
iShares US Broker-Dealers & Securities Exchanges ETF
IAI
$1.38B
| $114M | 0.04% |
635,487
-22,030
| -3% | -$3.87M |
|
158
Onto Innovation
ONTO
$13.7B
| $111M | 0.04% |
701,999
+45,997
| +7% | +$6.53M |
|
159
Nomura Holdings
NMR
$29B
| $110M | 0.04% |
13,151,514
+3,221,008
| +32% | +$24M |
|
160
Linde
LIN
$226B
| $109M | 0.04% |
255,699
+16,821
| +7% | +$7.21M |
|
161
Booking.com
BKNG
$160B
| $109M | 0.04% |
508,025
-36,225
| -7% | -$7.45M |
|
162
Evercore
EVR
$12.3B
| $109M | 0.04% |
319,805
-5,374
| -2% | -$1.73M |
|
163
Lincoln Electric
LECO
$15.2B
| $106M | 0.04% |
442,174
+4,291
| +1% | +$1.02M |
|
164
HEICO Corp
HEI
$51.3B
| $106M | 0.04% |
326,386
+35,288
| +12% | +$11.2M |
|
165
Terex
TEX
$7.55B
| $105M | 0.04% |
1,968,982
-11,585
| -0.6% | -$585K |
|
166
ATI
ATI
$28B
| $104M | 0.04% |
908,495
-49,153
| -5% | -$4.79M |
|
167
MYR Group
MYRG
$5.2B
| $103M | 0.04% |
471,706
+21,304
| +5% | +$4.64M |
|
168
Powell Industries
POWL
$7.59B
| $101M | 0.03% |
951,819
+50,331
| +6% | +$5.65M |
|
|
169
iShares MBS ETF
MBB
$39.1B
| $101M | 0.03% |
1,055,854
-21,448,046
| -95% | -$2.05B |
|
170
Lowe's Companies
LOW
$123B
| $101M | 0.03% |
416,819
-13,766
| -3% | -$3.31M |
|
171
State Street Consumer Staples Select Sector SPDR ETF
XLP
$14.9B
| $98.6M | 0.03% |
1,269,668
-38,621
| -3% | -$3.01M |
|
172
Sanmina
SANM
$10.7B
| $97.6M | 0.03% |
650,173
+483,312
| +290% | +$71.3M |
|
173
Northrop Grumman
NOC
$79.2B
| $97.1M | 0.03% |
170,354
-4,432
| -3% | -$2.57M |
|
174
JD.com
JD
$43.9B
| $95.6M | 0.03% |
3,331,848
-41,956
| -1% | -$1.31M |
|
175
Coherent
COHR
$64.2B
| $92.7M | 0.03% |
502,168
+126,672
| +34% | +$18.9M |
|
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.