§ 13F · FUND PROFILE
Fisher Asset Management, LLC.
Concentrated quality growth, Ken Fisher
AUM · $251889.4T (13F)Positions · 986Turnover · 98% · Q4Filed · Feb 9, 2026
CONCENTRATION
34%
Top 10 holdings
NEW BUYS
+116
+$2867.5T deployed
EXITS
0
No exits
SECTOR SHIFT
TECHNOLOGY → OTHER
-1pp · +2pp
3YR HIT RATE
—
Top-5 overlap
§ 01 · TOP HOLDINGS
The book · Q4 2025
FILED FEB 9, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q4 |
|---|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA CORP COM | 86.06M | $16049.7T | 5.5% | +2% |
| 2 | AAPL | APPLE INC | 55.15M | $14992.2T | 5.1% | +1% |
| 3 | IEF | ISHARES TR 7 10YR TR BD ETF | 134.83M | $12965.5T | 4.4% | +54% |
| 4 | MSFT | MICROSOFT CORP | 25.30M | $12235.8T | 4.2% | +2% |
| 5 | GOOGL | ALPHABET INC CLASS A | 38.11M | $11927.2T | 4.1% | +2% |
| 6 | AMZN | AMAZON COM INC COM | 33.59M | $7754.1T | 2.6% | +1% |
| 7 | VCIT | VANGUARD FDS INT TERM CORP | 83.98M | $7033.0T | 2.4% | +4% |
| 8 | GS | GOLDMAN SACHS GROUP INC | 6.77M | $5952.2T | 2.0% | +2% |
| 9 | TSM | TAIWAN SEMICONDUCTOR MFG L ADR | 18.15M | $5514.7T | 1.9% | +2% |
| 10 | CAT | CATERPILLAR INC | 9.49M | $5438.4T | 1.9% | +1% |
§ 02 · SECTOR ALLOCATION
Where the money is
Other38.9% (+2pp)
Technology13.1% (−1pp)
Semiconductors11.0% (±0)
Financial Services10.2% (±0)
Banking8.8% (±0)
Media7.0%
§ 03 · THE FISHER SIGNAL
AC read
Fisher Asset Management, LLC is a Quality / Compounder fund managing $251889373.6 trillion in assets. The fund runs a broad portfolio of 986 positions, broad diversification across holdings, with the top 10 accounting for 34%. Trading activity is aggressive at 98% quarterly turnover, with 116 new positions and 0 exits last quarter. Top sector allocations: Other (39%), Technology (13%), Semiconductors (11%).
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
1 FILINGS
Q4 2025
Busy quarter
+116 buys · −0 exits · 879 changed
Q3 2025
Steady book
+0 buys · −0 exits · 0 changed
Q2 2025
Steady book
+0 buys · −0 exits · 0 changed
Q1 2025
Steady book
+0 buys · −0 exits · 0 changed