Fisher Asset Management
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Ken Fisher's Fisher Asset Management reported 999 stock positions worth $231.0 billion. Its top holding was Apple (AAPL) at 5.1% of the portfolio, followed by Nvidia (NVDA, 4.3%) and Microsoft (MSFT, 4.1%). Compared with Q4 2024, it opened 116 new positions, sold out of 93, added to 401 and reduced 435. The biggest buy was Sap SE-Sponsored ADR (SAP, shares +154%) and the biggest sale Alphabet Class A (GOOGL, shares −27%).
- Most Recent 13F
- Q2 2026
- Notable People
- Ken Fisher
- Location
- PLANO, TX
- CIK
- 0000850529
- Portfolio Value
- $231.0B (Q1 2025)
- SEC Filing
- 0000850529-25-000003 ↗ filed May 14, 2025
Holdings Value
Holdings 999 stocks · $231.0B
| AAPL Apple Inc. | 5.12% | 53,288,778 | $11.8B | Reduce -10.1% |
| NVDA Nvidia Corp. | 4.26% | 90,741,118 | $9.8B | Reduce -7.7% |
| MSFT Microsoft Corp. | 4.09% | 25,197,639 | $9.5B | Reduce -10.7% |
| VCIT Vanguard Int-Term Corporate | 3.45% | 97,403,605 | $8.0B | Add +5.0% |
| AMZN Amazon.com Inc. | 2.68% | 32,578,903 | $6.2B | Reduce -27.9% |
| GOOGL Alphabet Inc. Class A | 2.48% | 37,016,311 | $5.7B | Reduce -26.9% |
| IEF iShares 7-10 Year Treasury B | 2.27% | 54,964,750 | $5.2B | Add +11.7% |
| JPM JPMorgan Chase & Co. | 1.95% | 18,369,132 | $4.5B | Add +5.6% |
| LLY Eli Lilly & Co. | 1.94% | 5,438,446 | $4.5B | Add +3.9% |
| META Meta Platforms Inc. Class A | 1.61% | 6,450,848 | $3.7B | Reduce -3.4% |
| XOM Exxon Mobil Corp. | 1.57% | 30,415,363 | $3.6B | Add +2.0% |
| HD Home Depot Inc. | 1.54% | 9,677,578 | $3.5B | Add +1.3% |
| WMT Walmart Inc. | 1.52% | 39,917,929 | $3.5B | Reduce -18.2% |
| SAP Sap SE-Sponsored ADR | 1.51% | 12,993,705 | $3.5B | Add +153.9% |
| GS Goldman Sachs Group Inc. | 1.49% | 6,312,142 | $3.4B | Add +2.5% |
| CVX Chevron Corp. | 1.48% | 20,447,869 | $3.4B | Add +2.8% |
| CAT Caterpillar Inc. | 1.31% | 9,210,125 | $3.0B | Add +1.4% |
| TSM Taiwan Semiconductor-SP ADR | 1.29% | 18,005,343 | $3.0B | Reduce -36.5% |
| COST Costco Wholesale Corp. | 1.28% | 3,131,239 | $3.0B | Add +1.7% |
| UNH Unitedhealth Group Inc. | 1.19% | 5,250,580 | $2.7B | Add +52.9% |
| MS Morgan Stanley | 1.18% | 23,296,036 | $2.7B | Add +2.0% |
| ASML ASML Holding NV-NY Reg SHS | 1.15% | 3,993,320 | $2.6B | Add +26.3% |
| RTX RTX Corp. | 1.13% | 19,761,922 | $2.6B | Add +3.8% |
| V Visa Inc. Class A | 1.08% | 7,142,524 | $2.5B | Reduce -26.8% |
| ORCL Oracle Corp. | 1.07% | 17,601,888 | $2.5B | Reduce -2.2% |
| AXP American Express Co. | 1.05% | 8,972,513 | $2.4B | Add +2.4% |
| MA Mastercard Inc. Class A | 1.01% | 4,241,714 | $2.3B | Add +1.6% |
| FCX Freeport-McMoran Inc. | 0.99% | 60,432,222 | $2.3B | Add +1.8% |
| C Citigroup Inc. | 0.96% | 31,173,305 | $2.2B | Add +3.9% |
| MRK Merck & Co. Inc. | 0.95% | 24,445,797 | $2.2B | Add +51.7% |
| SONY Sony Group Corp. - SP ADR | 0.94% | 85,597,524 | $2.2B | Add +88.5% |
| CRM Salesforce Inc. | 0.94% | 8,052,026 | $2.2B | Reduce -35.4% |
| AVGO Broadcom Inc. | 0.90% | 12,412,553 | $2.1B | Reduce -48.1% |
| BP BP PLC-Spons ADR | 0.89% | 60,992,153 | $2.1B | Add +161.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.88% | 48,847,730 | $2.0B | Add +4.2% |
| ISRG Intuitive Surgical Inc. | 0.87% | 4,047,204 | $2.0B | Reduce -16.9% |
| INTU Intuit Inc. | 0.86% | 3,223,772 | $2.0B | Reduce -11.5% |
| MBB iShares MBS ETF | 0.85% | 21,042,969 | $2.0B | Add +6.8% |
| PG The Procter & Gamble Co. | 0.84% | 11,432,417 | $1.9B | Reduce -38.8% |
| NFLX Netflix Inc. | 0.83% | 2,062,211 | $1.9B | Reduce -54.5% |
| BLK BlackRock Inc. | 0.81% | 1,983,891 | $1.9B | Reduce -3.7% |
| SHEL Shell PLC-ADR | 0.81% | 25,513,000 | $1.9B | Add +2.3% |
| ADBE Adobe Inc. | 0.77% | 4,645,035 | $1.8B | Reduce -4.1% |
| SCHW Schwab (charles) Corp. | 0.72% | 21,165,163 | $1.7B | Add +3.5% |
| ABT Abbott Laboratories | 0.67% | 11,653,213 | $1.5B | Add +3.3% |
| UBS UBS Group AG-Reg | 0.66% | 49,975,870 | $1.5B | Add +1138.0% |
| UNP Union Pacific Corp. | 0.65% | 6,352,279 | $1.5B | Add +0.7% |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | 0.65% | 54,719,174 | $1.5B | Add +7.0% |
| COP Conocophillips | 0.64% | 14,169,674 | $1.5B | Add +2.8% |
| AZN Astrazeneca PLC-Spons ADR | 0.64% | 20,165,459 | $1.5B | Add +84.0% |
| COF Capital One Financial Corp. | 0.63% | 8,169,945 | $1.5B | Reduce -10.1% |
| JNJ Johnson & Johnson | 0.63% | 8,708,762 | $1.4B | Add +6.3% |
| CNQ Canadian Natural Resources | 0.61% | 45,887,871 | $1.4B | Add +4.0% |
| TTE Totalenergies SE -Spon ADR | 0.59% | 21,173,072 | $1.4B | Reduce -3.9% |
| SYK Stryker Corp. | 0.59% | 3,655,641 | $1.4B | Reduce -10.4% |
| TMO Thermo Fisher Scientific Inc. | 0.58% | 2,715,418 | $1.4B | Add +1.9% |
| NOW ServiceNow Inc. | 0.58% | 1,678,634 | $1.3B | Reduce -0.2% |
| JCI Johnson Controls Internation | 0.56% | 16,174,546 | $1.3B | Add +2.7% |
| ING ING Groep N.V.-Sponsored ADR | 0.54% | 63,521,263 | $1.2B | Reduce -3.8% |
| PEP Pepsico Inc. | 0.53% | 8,176,067 | $1.2B | Add +0.9% |
| PFE Pfizer Inc. | 0.52% | 47,440,029 | $1.2B | Add +325.5% |
| TM Toyota Motor Corp. -Spon ADR | 0.51% | 6,714,729 | $1.2B | Reduce -2.6% |
| SBUX Starbucks Corp. | 0.51% | 12,030,064 | $1.2B | Add +0.9% |
| UL Unilever PLC | 0.51% | 19,589,017 | $1.2B | Add +9.2% |
| GSK GSK PLC-Spon ADR | 0.50% | 30,031,815 | $1.2B | Add +59.4% |
| BCS Barclays PLC-Spons ADR | 0.49% | 73,369,893 | $1.1B | Add +29172.9% |
| SPOT Spotify Technology SA | 0.48% | 2,028,898 | $1.1B | New |
| DE Deere & Co. | 0.48% | 2,343,822 | $1.1B | Add +8.7% |
| EUFN iShares MSCI Europe Financia | 0.47% | 38,319,380 | $1.1B | Add +35.3% |
| BHP BHP Group Ltd.-Spon ADR | 0.47% | 22,412,922 | $1.1B | Add +0.8% |
| RIO Rio Tinto PLC-Spon ADR | 0.46% | 17,810,429 | $1.1B | Add +1.2% |
| MUFG Mitsubishi Ufj Finl-Spon ADR | 0.45% | 76,237,791 | $1.0B | Add +871.3% |
| CMI Cummins Inc. | 0.43% | 3,132,987 | $982.0M | Add +2.0% |
| DHR Danaher Corp. | 0.41% | 4,635,128 | $950.2M | Add +1.2% |
| CARR Carrier Global Corp. | 0.40% | 14,600,500 | $925.7M | Add +2.0% |
| HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC | 0.39% | 15,612,574 | $896.6M | New |
| BA The Boeing Co. | 0.38% | 5,130,777 | $875.1M | Add +2.0% |
| ITW Illinois Tool Works | 0.38% | 3,514,619 | $871.7M | Add +2.1% |
| SAN Banco Santander SA-Spon ADR | 0.37% | 128,343,210 | $859.9M | Reduce -7.2% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.36% | 11,871,236 | $824.3M | Reduce -6.1% |
| VOO Vanguard S&P 500 ETF | 0.34% | 1,531,127 | $786.9M | Reduce -12.2% |
| NVS Novartis AG-Sponsored ADR | 0.33% | 6,763,132 | $754.0M | Add +237.7% |
| SNY Sanofi-ADR | 0.33% | 13,566,329 | $752.4M | Add +8.4% |
| CSX CSX Corp. | 0.32% | 25,083,897 | $738.2M | Add +0.5% |
| EW Edwards Lifesciences Corp. | 0.32% | 10,100,466 | $732.1M | Add +3.3% |
| QQQ Invesco QQQ Trust Series 1 | 0.31% | 1,517,104 | $711.4M | Reduce -12.6% |
| BSX Boston Scientific Corp. | 0.30% | 6,765,550 | $682.5M | Add +16.6% |
| TT Trane Technologies PLC | 0.29% | 2,003,555 | $675.0M | Reduce -0.9% |
| IXJ iShares Global Healthcare Et | 0.29% | 7,293,858 | $665.2M | Add +35.5% |
| MUB iShares National Muni Bond E | 0.28% | 6,235,796 | $657.5M | Add +8.5% |
| BABA Alibaba Group Holding-SP ADR | 0.28% | 4,876,558 | $644.8M | Reduce -4.3% |
| BUD Anheuser-Busch Inbev-SPN ADR | 0.27% | 10,209,312 | $628.5M | Add +1.2% |
| BBVA Banco Bilbao Vizcaya-SP ADR | 0.26% | 43,601,727 | $593.9M | Reduce -10.7% |
| IR Ingersoll-Rand Inc. | 0.24% | 6,874,925 | $550.2M | Add +0.7% |
| CCI Crown Castle Inc. | 0.24% | 5,259,184 | $548.2M | Add +0.8% |
| PCAR Paccar Inc. | 0.22% | 5,195,521 | $505.9M | Add +0.0% |
| LYG Lloyds Banking Group PLC-ADR | 0.22% | 132,122,777 | $504.7M | New |
| KO The Coca-Cola Co. | 0.20% | 6,459,178 | $462.6M | Reduce -2.4% |
| IXC iShares Global Energy ETF | 0.20% | 10,909,356 | $459.0M | Add +7.7% |
| DB Deutsche Bank AG-Registered | 0.19% | 18,865,651 | $449.6M | New |
Portfolio Sells Q4 2024 → Q1 2025
| GOOGL Alphabet Inc. Class A | Reduce -26.9% | 2.48% | −1.33 |
| AVGO Broadcom Inc. | Reduce -48.1% | 0.90% | −1.31 |
| AMZN Amazon.com Inc. | Reduce -27.9% | 2.68% | −1.26 |
| AMD Advanced Micro Devices | Reduce -94.4% | 0.06% | −1.10 |
| NVDA Nvidia Corp. | Reduce -7.7% | 4.26% | −1.00 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -36.5% | 1.29% | −0.93 |
| BKNG Booking Holdings Inc. | Reduce -95.9% | 0.03% | −0.80 |
| AAPL Apple Inc. | Reduce -10.1% | 5.12% | −0.78 |
| NFLX Netflix Inc. | Reduce -54.5% | 0.83% | −0.77 |
| CRM Salesforce Inc. | Reduce -35.4% | 0.94% | −0.72 |
| MSFT Microsoft Corp. | Reduce -10.7% | 4.09% | −0.64 |
| LRCX Lam Research Corp. | Reduce -95.0% | 0.03% | −0.51 |
| PG The Procter & Gamble Co. | Reduce -38.8% | 0.84% | −0.40 |
| NKE Nike Inc. Class B | Reduce -92.6% | 0.02% | −0.29 |
| LVS Las Vegas Sands Corp. | Reduce -99.5% | 0.00% | −0.28 |
| WMT Walmart Inc. | Reduce -18.2% | 1.52% | −0.24 |
| AMAT Applied Materials Inc. | Reduce -87.2% | 0.03% | −0.19 |
| MDT Medtronic PLC | Reduce -85.0% | 0.04% | −0.16 |
| V Visa Inc. Class A | Reduce -26.8% | 1.08% | −0.14 |
| ISRG Intuitive Surgical Inc. | Reduce -16.9% | 0.87% | −0.14 |
| NOW ServiceNow Inc. | Reduce -0.2% | 0.58% | −0.13 |
| ORCL Oracle Corp. | Reduce -2.2% | 1.07% | −0.13 |
| XLG Invesco S&P 500 Top 50 ETF | Reduce -96.8% | 0.00% | −0.10 |
| ADBE Adobe Inc. | Reduce -4.1% | 0.77% | −0.09 |
| WYNN WYNN Resorts Ltd. | Reduce -95.2% | 0.00% | −0.08 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -6.1% | 0.36% | −0.08 |
| EXPE Expedia Group Inc. | Reduce -98.0% | 0.00% | −0.07 |
| GOOG Alphabet Inc. Class C | Reduce -26.8% | 0.12% | −0.07 |
| IXN iShares Global Tech ETF | Reduce -38.5% | 0.10% | −0.07 |
| MGM MGM Resorts International | Reduce -93.5% | 0.00% | −0.06 |
| INTU Intuit Inc. | Reduce -11.5% | 0.86% | −0.05 |
| MRVL Marvell Technology Inc. | Reduce -45.9% | 0.02% | −0.05 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -12.6% | 0.31% | −0.05 |
| MELI MercadoLibre Inc. | Reduce -50.5% | 0.07% | −0.04 |
| SMH Vaneck Semiconductor ETF | Reduce -66.8% | 0.02% | −0.04 |
| BECN Beacon Roofing Supply Inc. | Reduce -97.1% | 0.00% | −0.04 |
| XLY SS Consumer Disc Select Sect | Reduce -48.6% | 0.04% | −0.04 |
| INFY Infosys Ltd.-SP ADR | Reduce -19.5% | 0.09% | −0.03 |
| PODD Insulet Corp. | Reduce -87.7% | 0.01% | −0.03 |
| VOO Vanguard S&P 500 ETF | Reduce -12.2% | 0.34% | −0.03 |
| BLK BlackRock Inc. | Reduce -3.7% | 0.81% | −0.03 |
| ASX Ase Technology Holding -ADR | Reduce -38.9% | 0.04% | −0.03 |
| MSCI MSCI Inc. | Reduce -95.4% | 0.00% | −0.02 |
| IHI iShares U.S. Medical Devices | Reduce -87.2% | 0.00% | −0.02 |
| SMTC Semtech Corp. | Reduce -97.0% | 0.00% | −0.02 |
| TM Toyota Motor Corp. -Spon ADR | Reduce -2.6% | 0.51% | −0.02 |
| ANF Abercrombie & Fitch Co. Class A | Reduce -5.9% | 0.02% | −0.02 |
| UMC United Microelectron-SP ADR | Sold out | 0.00% | −0.02 |
| SYNA Synaptics Inc. | Reduce -96.4% | 0.00% | −0.02 |
| VSH Vishay Intertechnology Inc. | Reduce -97.1% | 0.00% | −0.02 |
Portfolio Buys Q4 2024 → Q1 2025
| SAP Sap SE-Sponsored ADR | Add +153.9% | 1.51% | +1.01 |
| BP BP PLC-Spons ADR | Add +161.3% | 0.89% | +0.62 |
| UBS UBS Group AG-Reg | Add +1138.0% | 0.66% | +0.61 |
| SONY Sony Group Corp. - SP ADR | Add +88.5% | 0.94% | +0.56 |
| UNH Unitedhealth Group Inc. | Add +52.9% | 1.19% | +0.50 |
| BCS Barclays PLC-Spons ADR | Add +29172.9% | 0.49% | +0.49 |
| VCIT Vanguard Int-Term Corporate | Add +5.0% | 3.45% | +0.48 |
| SPOT Spotify Technology SA | New | 0.48% | +0.48 |
| IEF iShares 7-10 Year Treasury B | Add +11.7% | 2.27% | +0.46 |
| MUFG Mitsubishi Ufj Finl-Spon ADR | Add +871.3% | 0.45% | +0.41 |
| PFE Pfizer Inc. | Add +325.5% | 0.52% | +0.40 |
| HSBC HSBC Holdings PLC-Spons ADR | New | 0.39% | +0.39 |
| AZN Astrazeneca PLC-Spons ADR | Add +84.0% | 0.64% | +0.36 |
| LLY Eli Lilly & Co. | Add +3.9% | 1.94% | +0.34 |
| CVX Chevron Corp. | Add +2.8% | 1.48% | +0.33 |
| MRK Merck & Co. Inc. | Add +51.7% | 0.95% | +0.31 |
| JPM JPMorgan Chase & Co. | Add +5.6% | 1.95% | +0.29 |
| XOM Exxon Mobil Corp. | Add +2.0% | 1.57% | +0.29 |
| ASML ASML Holding NV-NY Reg SHS | Add +26.3% | 1.15% | +0.27 |
| RTX RTX Corp. | Add +3.8% | 1.13% | +0.26 |
| GSK GSK PLC-Spon ADR | Add +59.4% | 0.50% | +0.25 |
| NVS Novartis AG-Sponsored ADR | Add +237.7% | 0.33% | +0.25 |
| LYG Lloyds Banking Group PLC-ADR | New | 0.22% | +0.22 |
| EUFN iShares MSCI Europe Financia | Add +35.3% | 0.47% | +0.21 |
| DB Deutsche Bank AG-Registered | New | 0.19% | +0.19 |
| SHEL Shell PLC-ADR | Add +2.3% | 0.81% | +0.19 |
| NWG Natwest Group PLC -Spon ADR | New | 0.17% | +0.17 |
| ABT Abbott Laboratories | Add +3.3% | 0.67% | +0.16 |
| COST Costco Wholesale Corp. | Add +1.7% | 1.28% | +0.16 |
| JNJ Johnson & Johnson | Add +6.3% | 0.63% | +0.15 |
| MBB iShares MBS ETF | Add +6.8% | 0.85% | +0.14 |
| MA Mastercard Inc. Class A | Add +1.6% | 1.01% | +0.13 |
| C Citigroup Inc. | Add +3.9% | 0.96% | +0.12 |
| SCHW Schwab (charles) Corp. | Add +3.5% | 0.72% | +0.11 |
| DE Deere & Co. | Add +8.7% | 0.48% | +0.11 |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | Add +7.0% | 0.65% | +0.11 |
| IXJ iShares Global Healthcare Et | Add +35.5% | 0.29% | +0.10 |
| COP Conocophillips | Add +2.8% | 0.64% | +0.10 |
| UL Unilever PLC | Add +9.2% | 0.51% | +0.10 |
| FCX Freeport-McMoran Inc. | Add +1.8% | 0.99% | +0.09 |
| GS Goldman Sachs Group Inc. | Add +2.5% | 1.49% | +0.09 |
| BSX Boston Scientific Corp. | Add +16.6% | 0.30% | +0.09 |
| SNY Sanofi-ADR | Add +8.4% | 0.33% | +0.09 |
| VEA Vanguard Ftse Developed ETF | Add +61.6% | 0.18% | +0.08 |
| SBUX Starbucks Corp. | Add +0.9% | 0.51% | +0.08 |
| UNP Union Pacific Corp. | Add +0.7% | 0.65% | +0.08 |
| VGK Vanguard Ftse Europe ETF | Add +71.6% | 0.15% | +0.08 |
| EMR Emerson Electric Co. | Add +78.4% | 0.17% | +0.07 |
| BUD Anheuser-Busch Inbev-SPN ADR | Add +1.2% | 0.27% | +0.07 |
| CNQ Canadian Natural Resources | Add +4.0% | 0.61% | +0.07 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,037 | $335.8B | NVDA, AAPL, IEF, GOOGL, CAT |
| Q1 2026 | 1,016 | $294.9B | NVDA, AAPL, IEF, GOOGL, MSFT |
| Q4 2025 | 1,017 | $293.0B | NVDA, AAPL, IEF, MSFT, GOOGL |
| Q3 2025 | 1,014 | $276.3B | NVDA, AAPL, MSFT, GOOGL, IEF |
| Q2 2025 | 986 | $251.9B | NVDA, MSFT, AAPL, VCIT, AMZN |
| Q1 2025 | 999 | $231.0B | AAPL, NVDA, MSFT, VCIT, AMZN |
| Q4 2024 | 975 | $251.3B | AAPL, NVDA, MSFT, AMZN, GOOGL |
| Q3 2024 | 919 | $244.0B | AAPL, MSFT, NVDA, AMZN, GOOGL |
| Q2 2024 | 984 | $229.9B | MSFT, AAPL, NVDA, GOOGL, AMZN |
| Q1 2024 | 963 | $214.1B | MSFT, AAPL, NVDA, AMZN, GOOGL |