In this article, we discuss billionaire Ken Fisher’s 5 most notable moves for 2026. If you want to read our detailed analysis of these stocks, go directly to Billionaire Ken Fisher’s 15 Most Notable Moves for 2026.
5. Cisco Systems, Inc. (NASDAQ:CSCO)
Fisher Asset Management’s Stake: $246 Million
Cisco Systems, Inc. (NASDAQ:CSCO) is one of the oldest holdings of Fisher Asset Management, having been constantly featured in the 13F portfolio of the fund since 2010. In the third quarter of 2012, at its peak, this stake comprised close to 38 million shares. Fisher Asset reduced this holding to just over 1 million shares by the beginning of 2022. However, in recent quarters, the fund has been buying up the shares in the tech firm again. It has added to the stake in three of the last four quarters. In the fourth quarter of 2025, Fisher Asset Management increased its stake in the company by a whopping 867% compared to filings for the previous quarter. In mid-February, Cisco had projected over $5 billion in AI orders for the 2026 fiscal year amid accelerated demand and product innovation.
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Cisco Systems, Inc. (NASDAQ:CSCO) provides an excellent example of the path tech firms have taken since the dotcom boom and bust of the early 2000s. In his 2006 book titled The Only Three Questions That Count: Investing by Knowing What Others Don’t, Fisher underlined that bubbles aren’t about great technologies—they’re about great stories and too-high expectations. The billionaire understood that the underlying technology of Cisco has remained the strength of the firm, with valuations steadily settling down since the dotcom bubble burst.
Cisco Systems, Inc. (NASDAQ:CSCO) designs, develops, and sells technologies that help to power, secure, and draw insights from the internet in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company offers data center switching, network security, identity and access management, and secure access service edge.
4. Amgen Inc. (NASDAQ:AMGN)
Fisher Asset Management’s Stake: $296 Million
Amgen Inc. (NASDAQ:AMGN) is also a staple in the 13F portfolio of Fisher Asset Management. The fund has held a small position in the company since early 2010. This position remained relatively stable through the decade and half since 2010. However, at the end of 2024 and in 2025, the fund has aggressively upped this stake. In the third and fourth quarter of 2025, the position has more than doubled compared to filings for the second quarter of 2025. At the end of the fourth quarter of 2025, the stake comprised close to 900,000 shares.
Latest reports suggest that Amgen Inc. (NASDAQ:AMGN) is the latest drug company that has agreed to sell medicines on TrumpRx, a government-run direct-to-consumer platform for pharmaceutical products. Per Fox News, a total of 54 prescription drugs from six pharma companies will be available on the site. The platform had launched last month with many drug giants agreeing to sell their products on the site for cash-paying customers as part of US President Donald Trump’s Most Favored Nation (MFN) drug pricing policy.
Amgen Inc. (NASDAQ:AMGN) discovers, develops, manufactures, and delivers human therapeutics worldwide. The company’s principal products include Enbrel for the treatment of rheumatoid arthritis, plaque psoriasis, and psoriatic arthritis, as well as Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers.
3. HDFC Bank Limited (NYSE:HDB)
Fisher Asset Management’s Stake: $433 Million
HDFC Bank Limited (NYSE:HDB) is one of the few foreign companies that occupy a prominent position in the 13F portfolio of Fisher Asset Management. Fisher has held a stake in this banking stock for over a decade and a half. At its peak in the second quarter of 2016, this holding comprised more than 32 million shares. Since then, the fund has trimmed this stake steadily, bringing it down to nearly 12 million shares at the end of the fourth quarter of 2025. Compared to filings for the third quarter of 2025, the fund increased its position in the firm by close to 30% between October and December of last year.
In 2010, just as his fund opened a position in HDFC Bank Limited (NYSE:HDB), Ken Fisher gave an interview to Forbes, noting that the world had entered a phase where 25% of global GDP was from emerging markets nations. He also added that this number was not only growing, but growing rapidly across the board. Fisher also noted that data on companies in emerging markets had become more accessible on the internet, providing American investors more knowledge about these firms, and giving them more choices.
HDFC Bank Limited (NYSE:HDB) provides banking and financial products and services to individuals and businesses in India, Bahrain, Hong Kong, Singapore, and Dubai. The company operates through treasury, retail banking, wholesale banking, and insurance business.
2. Emerson Electric Co. (NYSE:EMR)
Fisher Asset Management’s Stake: $954 Million
Emerson Electric Co. (NYSE:EMR) has been featured in the 13F portfolio of Fisher Asset Management since 2010. Back then, the stake had comprised just under 5 million shares. The fund trimmed this stake down to minute levels after 2012. However, in late 2022, it started buying up shares in the company again as the AI boom took off. From 160,000 shares in the fourth quarter of 2022, this position has grown to more than 7 million shares at the end of the fourth quarter of 2025. Compared to filings for the third quarter of 2025, the fund increased its stake in the firm by 15% between October and December 2025.
In early February, Emerson Electric Co. (NYSE:EMR) raised EPS guidance to $6.40–$6.55 for 2026, citing AI-enabled products and robust North America orders as growth drivers. Fisher understands the core business strength of the firm. In his 2010 book titled The Ten Roads to Riches: The Ways Rich People Got Rich… and How You Can Too, he underlined that companies that sell a wide range of industrial equipment across many industries often smooth out the worst of cyclical downturns.
Emerson Electric Co. (NYSE:EMR) is a technology and software company that provides various solutions in the Americas, Asia, the Middle East, Africa, and Europe. It operates through final control, measurement and analytical, discrete automation, safety and productivity, control systems and software, and test and measurement segments.
1. Broadcom Inc. (NASDAQ:AVGO)
Fisher Asset Management’s Stake: $4.8 Billion
Broadcom Inc. (NASDAQ:AVGO) is a relatively newer addition to the 13F portfolio of Fisher Asset Management, given that it is a major position, comprising over 1.6% of the total portfolio, when other major positions have been held by the fund for more than a decade or more. However, the company has more than pulled its weight, crossing over $1 trillion in market capitalization at the end of 2024, becoming part of an elite group of companies on the US stock market to achieve this feat. Fisher had opened a position in the company in the last quarter of 2021, just before the AI boom led to a crazy spike in the stock price of Broadcom. This holding, comprising close to 8 million shares, rose to more than 23 million shares at the end of 2024. However, it has been trimmed since then. At the end of the fourth quarter of 2025, the fund held close to 14 million shares in the firm.
Earlier this month, Broadcom Inc. (NASDAQ:AVGO) projected that AI chip revenue for the firm would surpass $100 billion in 2027 as AI demand accelerates. The chip firm guided for consolidated revenue of around $22 billion in Q2 2026, up 47% year-on-year. It also expects semiconductor revenue of approximately $14.8 billion, with AI semiconductor revenue projected at $10.7 billion, up roughly 140% year-on-year.
Broadcom Inc. (NASDAQ:AVGO) designs, develops, and supplies various semiconductor devices and infrastructure software solutions internationally. It offers networking connectivity, such as custom silicon solutions, ethernet switching and routing, ethernet NIC controllers, physical layer devices, and fiber optic components.
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