Fisher Asset Management's latest 13F filing reveals the firm's strategic adjustments in its investment portfolio for the fourth quarter of 2025. With a staggering total value of around $293 billion spread across 1,017 distinct holdings, the firm continues to demonstrate its dynamic approach to market navigation. Dominating a significant portion of this expansive portfolio are tech giants NVIDIA, Apple, Microsoft, Alphabet (formerly Google), and Amazon, collectively representing approximately 22% of the total assets under management.
Detailed Report on Fisher Asset Management's Portfolio Adjustments (Q4 2025)
In a recent quarterly disclosure, John Vincent, a seasoned analyst specializing in 13F reports and tools for DIY investors, provided an in-depth look into the latest changes within Kenneth Fisher's substantial portfolio. This analysis, based on Fisher Asset Management's official regulatory filings, sheds light on the precise movements made during the fourth quarter of 2025. The firm, a prominent player in the financial landscape, managed an impressive portfolio valued at nearly $293 billion. This extensive collection comprised 1,017 individual holdings, indicating a diversified yet focused investment strategy. Among these, five technological titans stood out as the cornerstone of the portfolio: NVIDIA (NVDA), Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), and Amazon (AMZN). These five entities alone commanded roughly 22% of the entire portfolio's value, underscoring Fisher's significant conviction in the technology and innovation sectors. A noteworthy observation from the filing was the sustained confidence in NVIDIA, which remained the largest individual holding. The firm incrementally increased its stake in NVDA over recent quarters, reinforcing its top position. Similarly, Apple and Microsoft also experienced modest but consistent additions to their respective holdings. Conversely, a significant increase in Broadcom (AVGO) shares was recorded, signaling a heightened interest in the semiconductor industry. In a strategic rebalancing, Fisher Asset Management notably reduced its holdings in Intuit (INTU), indicating a shift in allocation away from certain software and financial technology companies. These adjustments collectively illustrate a robust and actively managed portfolio, with a clear inclination towards high-growth technology and semiconductor companies, while prudently trimming positions in other segments such as consumer discretionary and healthcare.
The meticulous recalibration of Kenneth Fisher's portfolio reflects a sophisticated and adaptable investment philosophy. The emphasis on technology and semiconductors, coupled with strategic reductions in other sectors, highlights the firm's proactive stance in responding to evolving market dynamics. This detailed quarterly review serves as an invaluable resource for investors seeking to understand the nuanced strategies of one of the industry's leading asset managers.
