In this article, we will take a look at Billionaire Ken Fisher’s Top 11 Dividend Stock Picks.
In a recent episode of the Market Insights podcast, Fisher Investments Founder, Executive Chairman, and Co-Chief Investment Officer Ken Fisher addressed a new set of listener questions. He discussed whether elevated inflation and a weakening labor market point to a recession, whether policy uncertainty in the US makes the country less attractive for investors, whether the “Sell in May” investing adage has any merit, and what risks the growing national debt may pose to investors.
Speaking about inflation and employment data, Fisher said investors should be careful about relying too heavily on backward-looking indicators. He said:
“Whether it’s inflation looking backward or job numbers looking backward, they aren’t necessarily at all consistent with the future. Therefore, they’re not predictive.”
Fisher noted that a hypothetical scenario could be different, but stressed that inflation by itself is not a reliable recession signal. According to him, recession risks would rise if inflation accelerated significantly and central banks responded with aggressive monetary tightening. He added:
“It’s really not high inflation that is a predictor of recession. It’s if you had much worsening inflation and then the central banks of the world were to tighten hard to try to fight that, that might cause a recession.”
Fisher also argued that current inflation levels are not unusually high by historical standards.
“But if you think high inflation is the inflation that’s going on around the world, now, you’re smoking the funny stuff. Because if you look at the inflation now, compared to most of the inflation in the last 50 years, we’re actually at levels that are below those levels.”
Meanwhile, Fisher Asset Management‘s Q1 2026 13F portfolio increased modestly to about $295 billion. NVIDIA, Apple, Alphabet, Microsoft, and Amazon accounted for roughly 20% of total holdings. NVIDIA remained the firm’s largest position at 5.24% of the portfolio. The fund made small additions to the stake over the last three quarters, signaling continued confidence in the company despite trimming shares at higher prices earlier.
Portfolio turnover remained relatively modest during the quarter. Most of the activity was concentrated in major holdings and a handful of new positions, including AbbVie and Novartis. The firm also increased its stakes in Pfizer, Sony, and BP, while reducing positions in Netflix and SAP. These moves reflected tactical adjustments within an otherwise stable and diversified portfolio centered on large-cap technology stocks and global equities.
Given this, we will take a look at some of the best dividend stocks in Ken Fisher’s portfolio.
Ken Fisher of Fisher Asset Management
Our Methodology
For this list, we scanned Fisher Asset Management’s 13F portfolio as of Q1 2026 and identified prominent companies that offer dividends to shareholders. From there, we picked companies that have recently reported noteworthy developments likely to impact investor sentiment. These companies are also popular among elite funds and analysts.
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. Insider Monkey’s 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).
11. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Fisher Asset Management’s Stake Value: $125,132,534
On June 1, Mizuho raised its price recommendation on Advanced Micro Devices, Inc. (NASDAQ:AMD) to $615 from $515. It reiterated an Outperform rating on the shares. The firm increased price targets across the semiconductor group, saying demand for agentic AI remains strong throughout the CPU ecosystem. According to the analyst, suppliers are expected to remain supply-constrained through 2027, a situation that points to potential upside in servers. Mizuho believes agentic AI will continue to push demand higher. At the same time, the firm noted that memory and CPU supply constraints could limit further upside in the second half of 2026.
On June 8, AMD announced plans to invest up to £2bn in the United Kingdom over the next five years. The investment is intended to accelerate AI innovation and research. It will also expand access to the computing resources needed to support long-term economic growth and scientific leadership across the country.
Speaking at London Tech Week, AMD Chair and CEO Dr. Lisa Su outlined a series of investments and strategic collaborations aimed at accelerating the UK’s AI ecosystem and widening access to the advanced computing that supports scientific discovery and public-sector innovation. The initiatives are aligned with the UK’s AI Opportunities Action Plan and AI Hardware Strategy. They support broader national efforts to build world-class AI infrastructure, develop technical talent, and speed up AI adoption.
Advanced Micro Devices, Inc. is a global semiconductor company focused on high-performance computing and artificial intelligence (AI). Its operating segments include Data Center, Client and Gaming, and Embedded.
10. Canadian National Railway Company (NYSE:CNI)
Fisher Asset Management’s Stake Value: $260,468,989
On June 3, BofA raised its price recommendation on Canadian National Railway Company (NYSE:CNI) to $132 from $122. It reiterated a Buy rating on the shares. The analyst told investors that operating performance remains strong. The firm also sees several leading indicators pointing to improvement in the industrial economy.
On June 5, Susquehanna raised its price target on CNI to $138 from $128 and kept a Positive rating on the stock. The firm said rail volumes appear to be running ahead of expectations. According to the analyst, ISM readings are “encouraging” and have expanded for five consecutive months. The firm also noted that there are no signs that higher fuel costs are weighing on industrial demand. Earlier that day, Susquehanna increased price targets across the rail sector.
Canadian National Railway Company is a transportation and logistics company. Its services include rail, intermodal, trucking, and supply chain solutions.
9. Dover Corporation (NYSE:DOV)
Fisher Asset Management’s Stake Value: $332,461,290
On June 4, Morgan Stanley analyst Christopher Snyder increased his price recommendation for Dover Corporation (NYSE:DOV) to $230 from $210. He reiterated an Equal Weight rating on the shares.
The move came after a strong start to the year for the company. During Dover’s Q1 2026 earnings call, CEO Richard Tobin pointed to double-digit revenue growth in the quarter and said first-quarter bookings reached $2.5 billion, up 24% from a year earlier. He also highlighted a book-to-bill ratio of 1.2, with all five of Dover’s business segments posting ratios above 1. According to Tobin, those results gave management greater visibility into future performance and reinforced confidence in the company’s outlook.
Tobin said adjusted earnings rose 11% year over year to $2.28 per share. He noted that the company remains focused on delivering double-digit adjusted EPS growth for the full year. The company chose to leave its annual guidance unchanged. Even so, Tobin said recent order activity was trending toward the upper end of the forecast range. Management plans to take another look at its outlook when it reports next quarter’s results.
Dover Corporation operates as a diversified global manufacturer and solutions provider. Its Engineered Products segment supplies equipment, components, software, services, and other solutions to customers in the vehicle aftermarket, aerospace and defense industries, as well as several other end markets.
8. Starbucks Corporation (NASDAQ:SBUX)
Fisher Asset Management’s Stake Value: $1,097,231,119
On May 28, CNBC reported that afternoon traffic is playing a larger role in Starbucks Corporation (NASDAQ:SBUX)’s growth. The company has moved forward with a key element of CEO Brian Niccol’s turnaround strategy. According to data shared exclusively with CNBC, more customers are visiting Starbucks stores in the US after 2 p.m. The strongest increase in traffic has been between 3 p.m. and 5 p.m. The data covers the 90-day period from Feb. 15 to May 16.
For Starbucks, the trend is encouraging. The company has been looking for ways to drive customer visits beyond the morning coffee rush, which has traditionally been its busiest time of day. A big part of Niccol’s plan has been to bring customers back more often and keep stores busy throughout the day.
That effort appears to be gaining traction. In a blog post published last month, Starbucks said sales generated after 11 a.m. totaled $11 billion in the US during fiscal 2025. One of the biggest contributors has been the company’s Refreshers platform. Executives said the beverage line is now Starbucks’ second-best-selling category, behind only espresso drinks.
The stronger afternoon performance is another sign that Niccol’s early turnaround initiatives may be starting to produce results. Starbucks recently delivered quarterly earnings that topped expectations, easing some investor concerns around customer traffic, pricing, and execution under the company’s new leadership. The chain also recorded traffic growth for the second quarter in a row, an indication that more customers are returning to its stores.
Starbucks Corporation is a global roaster, marketer, and retailer of specialty coffee. Its North America segment includes the United States and Canada, while its International segment covers China, Japan, Asia Pacific, Europe, the Middle East and Africa, Latin America, and the Caribbean.
7. Thermo Fisher Scientific Inc. (NYSE:TMO)
Fisher Asset Management’s Stake Value: $1,401,637,491
On June 3, HSBC downgraded Thermo Fisher Scientific Inc. (NYSE:TMO) to Hold from Buy. It also lowered its price target on the stock to $540 from $670.The firm said Thermo Fisher’s goal of returning to 7% growth beyond 2027 “needs more support.” According to the analyst, the company’s relatively lower exposure to bioprocessing compared with its peers, along with uncertainty surrounding outsourcing demand, raises concerns in the near term. HSBC also pointed to a lack of near-term organic growth momentum as the primary reason for the downgrade.
Just a day earlier, on June 2, Wolfe Research analyst Mike Polark initiated coverage of TMO with an Outperform rating. He also set a $535 price target on the stock. In a research note covering the Life Science Tools & Diagnostics sector, Wolfe described Thermo Fisher as “synonymous with life science tools” and viewed the stock as “an anchor sector exposure.” The firm also said it has come to appreciate the company’s business model as a “serial acquirer,” highlighting its long track record of growth through acquisitions.
Thermo Fisher Scientific Inc. focuses on advancing life sciences research, helping customers tackle complex analytical challenges, improving laboratory productivity, and supporting patient health through diagnostics and the development and manufacturing of life-changing therapies.
6. Oracle Corporation (NYSE:ORCL)
Fisher Asset Management’s Stake Value: $1,406,703,443
On June 4, Citi raised its price recommendation on Oracle Corporation (NYSE:ORCL) to $330 from $320. It reiterated a Buy rating on the stock. The firm expects Oracle’s cloud business to remain a key driver of performance in fiscal Q4. Citi anticipates results that are generally in line with expectations, though it sees infrastructure-as-a-service growth continuing to accelerate. The higher price target reflects the stock’s recent multiple expansion.
A few days later, on June 8, Evercore ISI analyst Kirk Materne increased his price goal on Oracle to $245 from $220. He maintained an Outperform rating on the shares. In a preview of the company’s upcoming fiscal fourth-quarter results, Materne said the report is expected to highlight Oracle’s strategic positioning and long-term growth opportunities, despite ongoing discussions around capital spending. He noted that investors will be closely focused on the trajectory of Oracle’s cloud offerings and the company’s place in an increasingly competitive and evolving technology landscape.
Oracle Corporation provides integrated application suites along with secure, autonomous infrastructure through Oracle Cloud. The company operates across three business segments: cloud and license, hardware, and services.
5. UnitedHealth Group Incorporated (NYSE:UNH)
Fisher Asset Management’s Stake Value: $1,417,269,746
On June 4, Morgan Stanley raised the firm’s price recommendation on UnitedHealth Group Incorporated (NYSE:UNH) to $453 from $395. It reiterated an Overweight rating on the shares. Analyst Erin Wright noted that managed care stocks have been “grinding higher” as signs of softer utilization trends have started to emerge. The analyst also pointed to the potential impact of artificial intelligence across the managed care industry, saying AI could benefit both revenue growth and cost management. As those efficiencies scale, Morgan Stanley believes they could generate roughly 45% average EPS upside across the sector.
On June 8, Mizuho raised its price goal on UnitedHealth to $460 from $440. It maintained an Outperform rating on the stock. The firm said it believes the managed care sector is moving into a “more stable and predictable” policy environment. According to the analyst, the size and frequency of policy-related surprises are likely to ease from the elevated levels seen over the past three years. That shift could allow investors to focus more on company fundamentals, pricing recovery, and the sector’s underlying earnings potential. Mizuho also increased price targets across the managed care sector to reflect what it sees as a more stable regulatory and legislative backdrop.
UnitedHealth Group Incorporated is a healthcare and well-being company. Its operations are organized across four segments: Optum Health, Optum Insight, Optum Rx, and UnitedHealthcare. The UnitedHealthcare business includes UnitedHealthcare Employer & Individual, UnitedHealthcare Medicare & Retirement, and UnitedHealthcare Community & State.
4. Johnson Controls International plc (NYSE:JCI)
Fisher Asset Management’s Stake Value: $2,295,097,372
On June 3, Wolfe Research raised its price recommendation on Johnson Controls International plc (NYSE:JCI) to $171 from $165. It reiterated an Outperform rating on the stock. The firm came away encouraged after Johnson Controls’ investor event, which highlighted the changes taking place across the company. According to the analyst, the presentation provided a clearer view of management’s ongoing initiatives and “showed us that the lean transformation is real.” The update suggested that efforts to streamline operations and improve execution are moving beyond the planning stage and beginning to show tangible progress.
On June 2, UBS also became more bullish on the company, raising its price target to $180 from $170. It kept a Buy rating on the shares. In a research note, the analyst said Johnson Controls’ operational turnaround is producing promising early signs. While the transformation is still underway, UBS believes the initial results support management’s strategy and point to improving performance.
Johnson Controls International plc (NYSE:JCI) is a global technology company that focuses on energy efficiency, decarbonization, thermal management, and mission-critical performance. The company helps customers use energy more efficiently, reduce carbon emissions, and maintain reliable operations in industries where precision and resilience are increasingly important.
3. Merck & Co., Inc. (NYSE:MRK)
Fisher Asset Management’s Stake Value: $3,180,020,742
Reuters reported on June 1 that Merck & Co., Inc. is holding discussions with global health authorities about making its COVID-19 antiviral pill, molnupiravir, available as a treatment option for Ebola. The move came amid a growing outbreak in the Democratic Republic of Congo, according to a senior company executive. The outbreak has affected an estimated 1,100 people. It has also led to 42 deaths. It involves the Bundibugyo strain of the Ebola virus, a rare variant for which no approved vaccines or treatments currently exist.
Molnupiravir was developed by the New Jersey-based pharmaceutical company in partnership with Ridgeback Biotherapeutics and is marketed under the brand name Lagevrio. The drug received emergency authorization from the Food and Drug Administration during the COVID-19 pandemic for the treatment of mild-to-moderate COVID-19 in adults considered at high risk of developing severe illness.
While molnupiravir is not approved for the treatment of Ebola, animal studies have demonstrated some effectiveness against the virus. The drug could potentially help prevent Ebola infections among individuals at elevated risk of exposure. Its use is not recommended during pregnancy.
Merck also manufactures Ervebo, an Ebola vaccine approved for protection against the more common Zaire Ebola virus. Barr said the technology behind Ervebo could prove useful in the development of a new vaccine targeting the Bundibugyo strain.
Merck & Co., Inc. is a global healthcare company that provides prescription medicines, including biologic therapies and vaccines, as well as animal health products.
2. Costco Wholesale Corporation (NASDAQ:COST)
Fisher Asset Management’s Stake Value: $3,208,361,404
On June 3, Costco Wholesale Corporation (NASDAQ:COST) reported net sales of $24.01 billion for May. It represents a 14.5% increase from the same month last year. The retailer also continued to post solid growth on a year-to-date basis. Net sales for the first 39 weeks of the fiscal year totaled $221.19 billion, up 10% from $201.02 billion in the comparable period a year earlier.
Comparable sales for the four weeks ended May 31, 2026, increased 12.5%, the company said. The US remained Costco’s strongest market, with comparable sales rising 13.7%. Canada recorded a 9.2% increase, while other international markets posted growth of 9.7%.
Online demand also stayed strong. E-commerce comparable sales jumped 21.1% during the month. When adjusted for changes in gasoline prices and foreign exchange rates, comparable sales increased 8%. On the same basis, comparable sales rose 8.7% in the U.S. and 5.3% in Canada.
Costco Wholesale Corporation operates a network of membership warehouses and e-commerce sites, offering both nationally branded and private-label products across a wide range of merchandise categories.
1. Broadcom Inc. (NASDAQ:AVGO)
Fisher Asset Management’s Stake Value: $4,547,124,089
On June 4, DA Davidson raised its price recommendation on Broadcom Inc. (NASDAQ:AVGO) to $400 from $375. It reiterated a Neutral rating on the stock. The firm noted that Broadcom shares declined despite the company delivering a modest Q1 revenue beat of 0.5% compared to consensus estimates and issuing a constructive Q3 outlook. According to the analyst, the guidance fell short of the market’s elevated expectations. During the earnings call, Broadcom also provided updates on several strategic initiatives. DA Davidson said these developments indicate that supply and demand remain out of balance, with demand for computing power continuing to increase.
A day later, on June 5, Erste Group upgraded Broadcom to Buy from Hold. The analyst told investors that Broadcom is growing at a much faster pace than its industry peers and expects the stock to maintain its upward momentum, supported by the company’s stronger-than-average growth prospects.
Broadcom Inc. is a global technology company that designs, develops, and supplies semiconductor products, enterprise software, and security solutions. The company operates through two business segments: semiconductor solutions and infrastructure software.
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