Ken Fisher is the founder of Fisher Asset Management, a financial adviser that he started nearly five decades ago. The firm oversees over $240 billion from more than 150,000 private investors.
Fisher said, “I’ve gone to cash three times in my career; in 1987 before the crash, before the 1990 bear market and in the early 2000s, before the dot-com crash. But I missed the 2007-2009 bear market because I didn’t believe, and don’t believe, mortgages could cause what they are blamed for having caused.”
Besides focusing on long-term investments, Fisher also believes in spreading out investments to reduce risk. Fisher Asset Management is highly diversified, with a portfolio value of about $244 billion. While technology stocks account for 31.8% of the portfolio, the independent money management firm is also heavily invested in the services sector, accounting for 14.6% of the portfolio. Other significant holdings are in the financial services, healthcare, and basic materials sectors.
In the past year, Fisher’s firm made a 32.18% return, mainly because it invested a lot in tech stocks, especially those benefiting from the AI boom. While other managers are selling tech stocks due to high valuations, Fisher’s firm is buying more, especially in companies making AI chips.
Even though the overall market is at all-time highs, Fisher says there’s no need to worry. He believes that just because the market is high now, it doesn’t predict the future. He expects the market to keep going up as long as the economy and other key factors get better.
“Bull markets hit new highs on an ongoing basis as soon as they have recovered from the prior bear market and hit their first all-time high in that new bull market. They keep doing that over and over again and eventually you do get another bear market and then again get another bull market. Bull markets, not always, are usually significantly bigger and longer than bear markets, significantly,” Ken Fisher said.
Ken Fisher’s portfolio is heavily invested in the “magnificent seven” stocks, based on the belief that the stocks are well poised to continue outperforming the overall market. According to Fisher, growth stocks will continue outperforming value stocks amid the prevailing economic conditions.
“If you think the market is going up, you should expect the magnificent seven to continue to do well. Will they necessarily do better than everything? No, but they never actually did. The fact is they did better as a group than most groups you could find. I think that will continue to be the case because I am optimistic on the market as a whole moving forward”, Fisher said in a video interview.
We looked through Fisher Asset Management’s portfolio to find Ken Fisher’s top 15 stock picks for 2025. We focused on his biggest investments and ranked the stocks from smallest to largest based on the firm’s stake at the end of Q3 2024.
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A close-up of a colorful high-end graphics card being plugged in to a gaming computer.
NVIDIA Corporation (NASDAQ:NVDA) is one of billionaire Ken Fisher’s top 15 stock picks heading into 2025 amid the artificial intelligence revolution. The company has made a name for itself in the development of some of the most sought-after graphics processing units (GPU). The GPUs are in solid demand owing to their use in powering AI models.
NVIDIA Corporation (NASDAQ:NVDA) logged record revenue of $35.1 billion in its third quarter, a 94% year-over-year increase thanks to strong AI demand. It now expects its fourth-quarter revenue to increase by 70% to $37.5 billion. It also expects the new Blackwell architecture to spur revenue growth in 2025.
NVIDIA Corporation (NASDAQ:NVDA) is doing well in data center chips and gaming graphics cards, controlling 88% of the graphics card market. Strong GPU demand has led to record revenue and earnings, with the stock up 187% this year. NVDA is using its extra revenue to invest in companies like SoundHound and Applied Digital, preparing for the future of AI. It also owns significant stakes in Applied Digital, a growing designer and builder of data centers. The investments are part of NVDA’s push to safeguard its future amid the AI revolution.
Overall, NVDA ranks 3rd on our list of Ken Fisher’s top stock picks heading into 2025. While we acknowledge the potential of NVDA as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
