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 | |
|---|---|---|---|---|---|---|
176
Invesco NASDAQ Internet ETF
PNQI
$542M
| $91.4M | 0.03% |
1,694,690
-65,754
| -4% | -$3.59M |
|
177
Carpenter Technology
CRS
$28.3B
| $89.9M | 0.03% |
285,507
+1,860
| +0.7% | +$559K |
|
178
East-West Bancorp
EWBC
$18.3B
| $87.8M | 0.03% |
781,443
+34,815
| +5% | +$3.69M |
|
179
Old National Bancorp
ONB
$10.3B
| $87.4M | 0.03% |
3,916,066
+30,104
| +0.8% | +$649K |
|
180
Herc Holdings
HRI
$5.64B
| $87.1M | 0.03% |
586,924
-1,472
| -0.3% | -$202K |
|
181
Arrowhead Research
ARWR
$12.2B
| $87.1M | 0.03% |
1,311,727
+257,933
| +24% | +$12.6M |
|
182
Lazard
LAZ
$4.26B
| $85.5M | 0.03% |
1,760,637
+38,133
| +2% | +$1.9M |
|
183
McDonald's
MCD
$195B
| $83.5M | 0.03% |
273,143
-2,418
| -0.9% | -$741K |
|
184
Amkor Technology
AMKR
$13.4B
| $82.7M | 0.03% |
2,095,027
+1,407,109
| +205% | +$50.1M |
|
185
Advanced Energy
AEIS
$13.2B
| $82.5M | 0.03% |
394,186
+104,661
| +36% | +$21.3M |
|
|
JHG
186
DELISTED
Janus Henderson
JHG
| $80.8M | 0.03% |
1,698,712
-108,442
| -6% | -$4.8M |
|
187
Tapestry
TPR
$32.2B
| $80.1M | 0.03% |
627,041
+18,775
| +3% | +$2.15M |
|
188
Medpace
MEDP
$16.4B
| $78M | 0.03% |
138,799
+1,053
| +0.8% | +$598K |
|
189
ASE Group
ASX
$80.9B
| $74.7M | 0.03% |
4,641,965
-85,281
| -2% | -$1.21M |
|
190
ZTO Express
ZTO
$18B
| $74.2M | 0.03% |
3,553,206
-13,941
| -0.4% | -$276K |
|
191
State Street Communication Services Select Sector SPDR ETF
XLC
$22.3B
| $73.2M | 0.03% |
621,755
-12,555
| -2% | -$1.44M |
|
192
Curtiss-Wright
CW
$27.6B
| $72.8M | 0.02% |
132,071
+11,536
| +10% | +$6.43M |
|
193
iShares Expanded Tech-Software Sector ETF
IGV
$14.3B
| $72.5M | 0.02% |
686,000
-64,426
| -9% | -$7.08M |
|
194
Regal Rexnord
RRX
$12.2B
| $72.2M | 0.02% |
514,379
-3,519
| -0.7% | -$501K |
|
195
XP
XP
$8.77B
| $71.7M | 0.02% |
4,377,265
-141,706
| -3% | -$2.49M |
|
196
Columbia Banking Systems
COLB
$8.87B
| $70.3M | 0.02% |
2,514,937
-112,511
| -4% | -$3.05M |
|
197
Affiliated Managers Group
AMG
$9.92B
| $70.3M | 0.02% |
243,830
+40,107
| +20% | +$10.4M |
|
198
iShares MSCI Switzerland ETF
EWL
$2.22B
| $70M | 0.02% |
1,166,777
-53,312
| -4% | -$3.06M |
|
199
Pegasystems
PEGA
$5.23B
| $69.9M | 0.02% |
1,170,377
+33,643
| +3% | +$1.97M |
|
200
Eaton
ETN
$174B
| $69.6M | 0.02% |
218,452
-8,366
| -4% | -$2.96M |
|
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.