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 | |
|---|---|---|---|---|---|---|
201
AeroVironment
AVAV
$8.51B
| $68.6M | 0.02% |
283,686
-29,299
| -9% | -$9.21M |
|
202
TJX Companies
TJX
$177B
| $66.4M | 0.02% |
432,192
-35,225
| -8% | -$5.21M |
|
203
Wintrust Financial
WTFC
$10.9B
| $65.8M | 0.02% |
470,458
+5,928
| +1% | +$788K |
|
204
Pinduoduo
PDD
$129B
| $65M | 0.02% |
573,184
-2,760
| -0.5% | -$343K |
|
205
APi Group
APG
$18.1B
| $63.8M | 0.02% |
1,668,199
-68,778
| -4% | -$2.54M |
|
206
Raymond James Financial
RJF
$34.7B
| $63.1M | 0.02% |
392,663
+25,410
| +7% | +$4.1M |
|
207
Fulton Financial
FULT
$4.73B
| $62.8M | 0.02% |
3,251,270
-112,239
| -3% | -$2.07M |
|
208
Mercury Systems
MRCY
$6.45B
| $62.8M | 0.02% |
860,383
-14,896
| -2% | -$1.11M |
|
209
American Eagle Outfitters
AEO
$2.99B
| $62.7M | 0.02% |
2,378,122
-108,960
| -4% | -$2.15M |
|
210
Abercrombie & Fitch
ANF
$4.86B
| $61.6M | 0.02% |
489,454
+58,103
| +13% | +$5.08M |
|
211
Marvell Technology
MRVL
$189B
| $61.2M | 0.02% |
719,832
-47,708
| -6% | -$4.18M |
|
212
Lam Research
LRCX
$385B
| $60.8M | 0.02% |
355,347
-37,445
| -10% | -$5.82M |
|
|
CVSA
213
Covista Inc
CVSA
$4.39B
| $59.7M | 0.02% |
576,852
+5,367
| +0.9% | +$615K |
|
214
Life Time Group Holdings
LTH
$10.1B
| $59.3M | 0.02% |
2,231,329
-20,927
| -0.9% | -$545K |
|
215
Sally Beauty Holdings
SBH
$1.51B
| $58.7M | 0.02% |
4,117,437
-226,336
| -5% | -$3.41M |
|
216
Artisan Partners
APAM
$3.04B
| $58.7M | 0.02% |
1,440,480
-61,807
| -4% | -$2.64M |
|
217
SouthState Bank Corp
SSB
$10.6B
| $58.6M | 0.02% |
622,396
+15,142
| +2% | +$1.4M |
|
218
Aramark
ARMK
$15B
| $57.6M | 0.02% |
1,562,985
+94,286
| +6% | +$3.59M |
|
219
O'Reilly Automotive
ORLY
$76.3B
| $57.1M | 0.02% |
626,160
-29,828
| -5% | -$2.91M |
|
220
Shake Shack
SHAK
$3B
| $57M | 0.02% |
702,101
+19,591
| +3% | +$1.73M |
|
221
VanEck Semiconductor ETF
SMH
$71.6B
| $56.3M | 0.02% |
156,354
-6,354
| -4% | -$2.23M |
|
222
Huntington Bancshares
HBAN
$35.6B
| $55.5M | 0.02% |
3,200,089
-184,581
| -5% | -$3.03M |
|
223
Viridian Therapeutics
VRDN
$2.33B
| $55.4M | 0.02% |
1,780,284
+579,058
| +48% | +$15.9M |
|
224
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$23B
| $54.8M | 0.02% |
459,302
-24,628
| -5% | -$2.92M |
|
225
Xylem
XYL
$28.5B
| $54.8M | 0.02% |
402,339
-2,274
| -0.6% | -$327K |
|
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.