In this article, we will discuss: Billionaire Ken Fisher’s Latest Portfolio: 10 Best Stocks to Buy. For more stocks, you can head to Billionaire Ken Fisher’s Latest Portfolio: 5 Best Stocks to Buy.
Billionaire Ken Fisher is one of the richest hedge fund investors in the world. According to Forbes Magazine, his net worth sat at $13.2 billion as of June 2026. Unlike several hedge fund founders who have retired, Fisher still plays a role at his firm, Fisher Investments, where he is executive chairman and co-chief investment officer. According to Insider Monkey’s data, Fisher Investments had a 13F portfolio value of $294 billion as of the first quarter of 2026.
Like several other hedge funds, Fisher Investment’s 13F portfolio is also led by mega-cap technology stocks. Over the course of the past couple of years, the portfolio has also grown in value. For instance, at the end of 2024’s first quarter, it was worth $214 billion. The worth grew to sit at $230 billion at the end of Q1 2025. The growth also comes with a price, as data from FE Analytics shows that several of Fisher Investment’s funds had ongoing charges figures (OCF) of 1% or higher as of August 2025.
As for Ken Fisher, the billionaire is known for regularly communicating with the public. Not only did he write one of the longest-running columns in Forbes Magazine’s history, but these days, he also regularly appears on YouTube to share his take on the hottest events that drive the markets and global economic affairs. In a video recorded on May 15th, the hedge fund boss explained whether the Iran war was still threatening the stock market:
“The question keeps arising, bubbling up, if the resurgence in the Iranian war would be a serious impediment to the ongoing bull market on a global basis. . .if you say a resurgence is, the US and maybe Israel, and maybe a couple of other Western allied Gulf countries, increasingly engaging in conflict whether with boots on the ground or not with Iran and Iran solely, then the answer is, almost surely not. The possibility of that has been long contemplated and therefore would not be a shock to markets. Secondarily, there is this very, very long history of regional wars never causing bear markets.”
Our Methodology
For this article, we scanned Fisher Investment’s Q1 portfolio and picked its top holdings. The sector P/E data was sourced from Aswath Damodaran while the company data came courtesy of Yaoo Finance. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 599.2% since May 2014, beating its benchmark by 372 percentage points (see more details here).
10. Exxon Mobil Corporation (NYSE:XOM)
Fisher Investments’ Stake: $5.4 billion
Oil giant Exxon Mobil Corporation (NYSE:XOM)’s shares are up by 49% over the past year and by 24% year-to-date. Like several other firms, it is also currently in the process of moving its headquarters to Texas. On May 27th, Exxon Mobil Corporation (NYSE:XOM)’s shareholders approved the decision with a 71% vote in favor of the process.
The oil giant currently trades at a forward P/E ratio of 22.27, which is roughly in line with the integrated oil and gas sector’s 21.90 forward P/E ratio. Exxon Mobil Corporation (NYSE:XOM) also has a dividend yield of 2.70%.
As has been the case with other stocks, Exxon Mobil Corporation (NYSE:XOM)’s shares have also reacted to developments in the Iran war. For instance, the stock closed 2.8% higher on June 1st as news of a breakdown in negotiations over strikes in Lebanon made waves. The share price movement was accompanied by a rise in oil prices.
Clearbridge Dividend Strategy discussed Exxon Mobil Corporation (NYSE:XOM) in its Q1 2026 investor letter:
“We have focused our energy investments in our highest conviction ideas: Williams and Exxon Mobil Corporation (NYSE:XOM). ExxonMobil, however, as the largest private oil producer in the world, directly benefits from the events in the Persian Gulf. Higher oil prices will drive bumper earnings and cash flows, but that is not the only thing Exxon has going for it. Exxon’s robust production growth from low-cost basins will propel volume increases and margin expansion through the end of the decade. We have modestly trimmed our position as the stock has soared, but we maintain a significant investment in the company.”
9. The Goldman Sachs Group, Inc. (NYSE:GS)
Fisher Investments’ Stake: $5.8 billion
Banking giant The Goldman Sachs Group, Inc. (NYSE:GS)’s shares are up by 73% over the past year and by 13% year-to-date. Recently, media reports have suggested that turmoil in the private credit market might have affected the bank’s funds as well. As per Reuters, Goldman Sachs BDC reported a net asset value (NAV) of $12.17 per share at March end, which marked a 3.7% sequential drop. Additionally, the fund’s non-accruals rose to 4.7% of the loan portfolio at an annualized cost. The figure was significantly higher than the 2.8% cost during the previous quarter.
The Goldman Sachs Group, Inc. (NYSE:GS) currently trades at a forward P/E ratio of 15.08, which is lower than the brokerage and investment banking sector’s 19.86. The annual dividend yield is 1.73%.
Carillon Eagle Growth & Income Fund discussed The Goldman Sachs Group, Inc. (NYSE:GS) in its fourth quarter 2025 investor letter:
“The Goldman Sachs Group, Inc.’s (NYSE:GS) shares contributed to the fourth‑quarter performance due to positive financial results, coupled with increased optimism regarding capital markets activity heading into 2026. Goldman Sachs maintains one of the strongest global merger and acquisition (M&A) advisory and trading, with increased activity in M&A, initial public offerings, and debt issuance activity directly boosting its financial performance.”
8. ASML Holding N.V. (NASDAQ:ASML)
Fisher Investments’ Stake: $6 billion
Chip manufacturing equipment provider ASML Holding N.V. (NASDAQ:ASML) is one of the most consequential firms in the world. Its high-end EUV chip manufacturing machines are the only ones that allow firms to make the latest products. Consequently, ASML Holding N.V. (NASDAQ:ASML) benefits from the current AI spending boom as demand rises for NVIDIA and other high-end AI GPUs.
Over the year, the firm’s shares are up by 132% while year-to-date they have gained 48%. The complexity of its machines and its position in the market also allows ASML Holding N.V. (NASDAQ:ASML) to command a premium price for its products, as a standard EUV machine from the firm costs between $180 million and $200 million.
ASML Holding N.V. (NASDAQ:ASML)’s forward P/E ratio of 38.91 is also lower than the semiconductor equipment sector’s 41.58. On Wednesday, as the shares rose by 2.3%, the equivalent market capitalization in US dollars rose to $674 billion and made the firm Europe’s most valuable company.
Brown Advisory Global Leaders Strategy stated the following regarding ASML Holding N.V. (NASDAQ:ASML) in its Q1 2026 investor letter:
“ASML Holding N.V. (NASDAQ:ASML), develops, manufactures and markets EUV & DUV lithography systems, metrology and inspection systems & related software solutions, continued to benefit from the build-out of AI infrastructure, maintaining a strong order backlog and positive indications regarding the adoption of High-NA tools required for the production of leading-edge nodes (2 nm and below), where ASML holds a monopoly position in Extreme Ultraviolet (EUV) lithography machines.”
7. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Fisher Investments’ Stake: $6.2 billion
Contract chip manufacturing giant Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is one of the most important companies in the world. It is the only foundry capable of manufacturing high-end chips at scale and with stable yields. As a result, all of the world’s major semiconductor companies are its customers.
Over the past year, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s shares are up by 115%, while year-to-date they are up by 36%. Bank of America and Bernstein recently discussed the shares. Bernstein raised the share price target to $430 from $351 in late May and kept an Outperform rating on the shares. As part of its coverage, the financial firm remarked that Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) could grow its earnings at a compounded annual growth rate of 28% over the next couple of years. Bank of America reiterated a Buy rating on the same day.
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s forward P/E ratio of 24.63 is significantly lower than the semiconductor sector’s 37.29. This sector also consists of high-growth firms such as NVIDIA and AMD.
Green Alpha Investment discussed Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) in its Q1 2026 investor letter:
“Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has commenced mass production of 2nm chips using nanosheet Gate-All-Around transistors—the most significant architectural leap in a decade—with initial yields already reaching 70-80%, well ahead of any competitor. The N2 node delivers a 15% performance boost at the same power or a 25-30% reduction in power consumption versus 3nm, and TSMC expects to reach 100,000 wafers per month of 2nm capacity by year-end 2026. Apple, NVIDIA, AMD, and Google have all secured capacity, and 2nm revenue is projected to surpass 3nm and 5nm combined by Q3 2026.
TSMC is effectively the world’s sole manufacturer of bleeding-edge silicon at scale, with 38% of the $320 billion global foundry market and a technology lead that Samsung and Intel cannot close in the near term. With $56 billion in planned 2026 capex and pricing power to raise wafer prices 5-10% across all sub-5nm nodes, TSMC’s competitive moat is widening, not narrowing. As AI workloads demand ever more advanced process nodes and advanced packaging (CoWoS capacity expanding 70%+ annually), TSMC sits at the absolute center of the AI compute supply chain.”
6. Caterpillar Inc. (NYSE:CAT)
Fisher Investments’ Stake: $6.9 billion
Agricultural, construction, and power generation equipment manufacturer Caterpillar Inc. (NYSE:CAT)’s shares are up by 165% over the past year and by 55% year-to-date. The artificial intelligence boom has also proven to be a boon for the firm’s power generation products. For instance, ProPetro Holding Corp announced an agreement with Caterpillar Inc. (NYSE:CAT) to purchase power generation assets capable of generating up to 2.1 billion gigawatts of power over the next five years.
Caterpillar Inc. (NYSE:CAT)’s forward P/E ratio of 31.35 is higher than the machinery sector’s average of 24.06. Evercore ISI discussed the firm on May 11th as it raised the share price target to $1,103 from $878 and reiterated a Buy rating on the shares.
CNBC’s Jim Cramer discussed Caterpillar Inc. (NYSE:CAT) and its multiple in his May 15th appearance on Mad Money:
“So let’s go to our game plan for next week…. Monday’s Caterpillar, this division, okay, it’s integral to data center construction, and it’s hosting a headquarters visit for investors right now. CAT trades at 36 times earnings. It’s like a tech stock. Oh, you know, I like CAT, but this has become overheated. If this division, well, this division has everybody excited. Perhaps it merits the premium. We have to find out.”
While we acknowledge the potential of CAT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CAT and that has 100x upside potential, check out our report about the cheapest AI stock.
Click to continue reading and see Billionaire Ken Fisher’s Latest Portfolio: 5 Best Stocks to Buy.
Disclosure: None. Follow Insider Monkey on Google News.
