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 |
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
|
+$390M |
| 2 |
Apple
AAPL
|
+$310M |
| 3 |
Amazon
AMZN
|
+$233M |
| 4 |
Microsoft
MSFT
|
+$221M |
| 5 |
TotalEnergies
TTE
|
+$204M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Global Energy ETF
IXC
|
+$384M |
| 2 |
Infosys
INFY
|
+$125M |
| 3 |
iShares Global Tech ETF
IXN
|
+$36.8M |
| 4 |
Equinor
EQNR
|
+$26.2M |
| 5 |
Sanofi
SNY
|
+$20.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.88% |
| 2 | Consumer Discretionary | 12.45% |
| 3 | Financials | 11.9% |
| 4 | Healthcare | 10.14% |
| 5 | Communication Services | 6.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Apple
AAPL
$4.9T
| $8.13B | 6.09% |
61,275,348
+2,580,700
| +4% | +$310M |
|
|
2
Amazon
AMZN
$2.53T
| $5.75B | 4.31% |
35,331,960
+1,458,860
| +4% | +$233M |
|
|
3
Microsoft
MSFT
$3.35T
| $5.2B | 3.9% |
23,393,871
+1,026,766
| +5% | +$221M |
|
4
Visa
V
$673B
| $4.86B | 3.64% |
22,220,489
+682,741
| +3% | +$140M |
|
|
5
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
$66.3B
| $3.82B | 2.86% |
39,287,889
+4,042,563
| +11% | +$390M |
|
6
Alibaba
BABA
$279B
| $3.25B | 2.43% |
13,945,829
+450,553
| +3% | +$125M |
|
7
TSMC
TSM
$2.09T
| $3.01B | 2.26% |
27,640,127
+130,578
| +0.5% | +$12.4M |
|
8
Alphabet (Google) Class A
GOOGL
$4.08T
| $2.93B | 2.19% |
33,408,540
+1,761,580
| +6% | +$148M |
|
9
Adobe
ADBE
$98.5B
| $2.91B | 2.18% |
5,818,183
+278,509
| +5% | +$135M |
|
10
Salesforce
CRM
$148B
| $2.78B | 2.08% |
12,492,164
+599,727
| +5% | +$146M |
|
11
PayPal
PYPL
$49.3B
| $2.5B | 1.87% |
10,680,445
+560,751
| +6% | +$116M |
|
12
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.3B
| $2.04B | 1.53% |
14,742,559
-13,517
| -0.1% | -$1.84M |
|
13
Netflix
NFLX
$305B
| $2B | 1.5% |
36,977,530
+1,662,070
| +5% | +$84.3M |
|
14
ASML
ASML
$634B
| $1.88B | 1.41% |
3,855,198
+206,103
| +6% | +$86.7M |
|
15
Home Depot
HD
$332B
| $1.82B | 1.36% |
6,846,024
+289,323
| +4% | +$79.5M |
|
16
American Express
AXP
$228B
| $1.81B | 1.36% |
14,982,300
+377,871
| +3% | +$41.8M |
|
17
Walt Disney
DIS
$167B
| $1.79B | 1.34% |
9,888,776
+392,065
| +4% | +$56.3M |
|
18
Walmart Inc
WMT
$884B
| $1.71B | 1.28% |
35,490,084
+1,493,325
| +4% | +$72.5M |
|
19
Intel
INTC
$460B
| $1.45B | 1.09% |
29,200,534
+897,790
| +3% | +$43.8M |
|
20
Mastercard
MA
$510B
| $1.42B | 1.07% |
3,985,855
+321,980
| +9% | +$107M |
|
21
Costco
COST
$423B
| $1.33B | 1% |
3,530,700
+139,629
| +4% | +$52.2M |
|
22
Meta Platforms (Facebook)
META
$1.37T
| $1.26B | 0.95% |
4,619,181
+319,362
| +7% | +$87.6M |
|
23
Caterpillar
CAT
$373B
| $1.13B | 0.84% |
6,188,027
+194,728
| +3% | +$33M |
|
24
Freeport-McMoran
FCX
$91.2B
| $1.12B | 0.84% |
42,857,825
+2,403,986
| +6% | +$50M |
|
|
NVO
25
Novo Nordisk
NVO
$228B
| $1.11B | 0.83% |
31,657,700
+251,048
| +0.8% | +$8.68M |
|
Similar funds
Ken Fisher's Q4 2020 Portfolio in Review
As of Q4 2020, Ken Fisher held 1,063 positions worth $133B, up 17% from $114B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
Ken Fisher deployed $4.92B of net new capital in Q4 2020, opening 123 new positions and adding to 398 existing holdings. Its largest new stake was TAL Education Group: 1,621,948 shares worth $116M.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 26% a quarter earlier, followed by Consumer Discretionary and Financials.
On the sell side, the largest reduction was iShares Global Energy ETF, an estimated $384M trimmed.
- Ken Fisher's largest Q4 2020 buy was TAL Education Group: 1,621,948 shares worth $116M.
- Ken Fisher added most to Vanguard Intermediate-Term Corporate Bond ETF in Q4 2020, an estimated $390M increase.
- Ken Fisher's biggest Q4 2020 reduction was iShares Global Energy ETF, cutting an estimated $384M.
- Ken Fisher fully exited Waddell & Reed Financial, Inc. in Q4 2020, selling an estimated $19.5M.
- Ken Fisher's ten largest holdings make up 32% of its $133B portfolio in Q4 2020.
- Ken Fisher opened 123 new positions and closed 53 in Q4 2020.
- Ken Fisher's portfolio value rose 17% quarter-over-quarter to $133B.
Based on Fisher Asset Management's 13F filing for Q4 2020, filed 29 Jan 2021.