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 | |
|---|---|---|---|---|---|---|
|
1
NVIDIA
NVDA
$4.72T
| $16B | 5.48% |
86,057,537
+1,493,962
| +2% | +$278M |
|
2
Apple
AAPL
$4.9T
| $15B | 5.12% |
55,146,752
+704,293
| +1% | +$189M |
|
|
3
iShares 7-10 Year Treasury Bond ETF
IEF
$47.2B
| $13B | 4.43% |
134,832,971
+47,170,533
| +54% | +$4.56B |
|
|
4
Microsoft
MSFT
$3.35T
| $12.2B | 4.18% |
25,300,410
+458,014
| +2% | +$230M |
|
5
Alphabet (Google) Class A
GOOGL
$4.08T
| $11.9B | 4.07% |
38,106,033
+583,078
| +2% | +$167M |
|
6
Amazon
AMZN
$2.53T
| $7.75B | 2.65% |
33,593,612
+489,924
| +1% | +$112M |
|
|
7
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
$66.3B
| $7.03B | 2.4% |
83,976,379
+3,339,026
| +4% | +$281M |
|
8
Goldman Sachs
GS
$302B
| $5.95B | 2.03% |
6,771,556
+110,134
| +2% | +$89.9M |
|
9
TSMC
TSM
$2.09T
| $5.51B | 1.88% |
18,146,900
+313,773
| +2% | +$92.1M |
|
10
Caterpillar
CAT
$373B
| $5.44B | 1.86% |
9,493,266
+54,069
| +0.6% | +$30.1M |
|
11
JPMorgan Chase
JPM
$933B
| $5.16B | 1.76% |
16,018,656
+296,213
| +2% | +$91.7M |
|
12
Eli Lilly
LLY
$1.03T
| $4.95B | 1.69% |
4,606,327
+153,265
| +3% | +$147M |
|
13
ASML
ASML
$634B
| $4.8B | 1.64% |
4,484,949
+132,353
| +3% | +$138M |
|
|
14
Broadcom
AVGO
$1.85T
| $4.79B | 1.64% |
13,844,206
+1,232,466
| +10% | +$441M |
|
15
Walmart Inc
WMT
$884B
| $4.53B | 1.54% |
40,626,852
+328,229
| +0.8% | +$35.2M |
|
16
Morgan Stanley
MS
$330B
| $4.44B | 1.52% |
25,018,335
+524,189
| +2% | +$87.4M |
|
17
Meta Platforms (Facebook)
META
$1.37T
| $4.36B | 1.49% |
6,609,892
+113,474
| +2% | +$75.8M |
|
18
RTX Corp
RTX
$289B
| $4B | 1.36% |
21,800,188
+625,994
| +3% | +$109M |
|
19
Citigroup
C
$222B
| $3.95B | 1.35% |
33,887,285
+846,772
| +3% | +$87.9M |
|
20
ExxonMobil
XOM
$651B
| $3.79B | 1.29% |
31,497,852
+303,359
| +1% | +$35.2M |
|
21
SAP
SAP
$209B
| $3.58B | 1.22% |
14,728,881
+179,550
| +1% | +$45.7M |
|
22
Home Depot
HD
$332B
| $3.49B | 1.19% |
10,154,469
+24,176
| +0.2% | +$8.86M |
|
23
American Express
AXP
$228B
| $3.34B | 1.14% |
9,023,482
+141,936
| +2% | +$50.8M |
|
24
Chevron
CVX
$383B
| $3.27B | 1.12% |
21,471,919
+319,859
| +2% | +$48.7M |
|
25
Freeport-McMoran
FCX
$91.2B
| $3.24B | 1.11% |
63,880,757
+622,343
| +1% | +$27M |
|
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.