Investor Ken Fisher used the third quarter to increase his equity holdings across the board. This helped a new company into the top 10.
Institutional investors with assets under management exceeding $100 million are required to disclose their holdings to the U.S. Securities and Exchange Commission on a quarterly basis using Form 13F. Fisher Asset Management’s investments also fall under this requirement.
In the portfolio of Ken Fisher’s asset manager, which manages around $276.29 billion, there were numerous adjustments in the third quarter of 2025 – the investor bought the largest holdings across the board.
The star investor’s ten largest stock holdings that were in the portfolio in the third quarter of 2025 are listed below. They are staggered according to the percentage in the portfolio. Investments in other financial instruments, such as bonds or ETFs, were not taken into account. The data is as of September 30, 2025.
Editorial team finanzen.net
11th place: The ranking
In the last quarter of the year, star investor Ken Fisher managed around $276.29 billion with his asset manager Fisher Asset Management. Since his portfolio clearly exceeds $100 million, Fisher is required to disclose his holdings to the US Securities and Exchange Commission on a quarterly basis using Form 13F. The following ranking lists the top ten stock positions in the third quarter of 2025, sorted by percentage of the total portfolio. Investments in other financial instruments, such as bonds or ETFs, were not taken into account. The data is as of September 30, 2025.
Source: sec.gov, Image: IIstudio / Shutterstock.com
10th place: Caterpillar
New to Fisher Assst Management’s ten largest holdings in the third quarter was the construction equipment manufacturer Caterpillar, in which the asset manager bought an additional 20,876 shares, expanding its holdings to 9,439,197 Caterpillar stocks. With a total value of 4.50 billion US dollars and a portfolio share of 1.63 percent, it was enough for 10th place in the ranking in the third quarter.
Source: sec.gov, Image: James Mattil / Shutterstock.com
9th place: Meta
Facebook parent Meta Platforms suffered a lot in the third quarter. Ken Fisher also bought additional shares here and increased the number of portfolio securities by 139,751 to 6,496,418 – with a value of 4.77 billion US dollars and a portfolio share of 1.73 percent, it was only enough for 9th place in the final quarter of the year – after 6th place in the previous quarter.
Source: sec.gov, Image: rafapress / Shutterstock.com
8th place: JPMorgan
With a portfolio share of 1.79 percent, the investment in JPMorgan remained in eighth place. Fisher Asset Management also bought here in the last quarter of the year and acquired 347,033 additional shares. The total of 15,722,443 shares were worth $4.96 billion at the end of the quarter.
Source: sec.gov, Image: TK Kurikawa / Shutterstock.com
7th place: Taiwan Semiconductor Manufacturing (TSMC)
Thanks to a strong share price development, Fisher’s stake in the Taiwanese chip manufacturer Taiwan Semiconductor Manufacturing (TSMC) made it to seventh place among the largest holdings in the third quarter. The 17,833,127 TSMC shares (168,171 more than in the previous quarter) were worth $4.98 billion at the end of the quarter and accounted for a portfolio share of 1.80 percent.
Source: sec.gov, Image: Michael Vi / Shutterstock.com
6th place: Goldman Sachs
It was only in the last quarter that Fisher’s holding in the US financial house Goldman Sachs entered the top ten, and in the third quarter it moved up another place to 6th place: The 6,661,422 shares (+1.86 percent compared to the previous quarter) had a total value of 5.30 billion US dollars and accounted for a share of 1.92 percent in the portfolio.
Source: sec.gov, Image: Poetra.RH / Shutterstock.com
5th place: Amazon
The stake in Amazon ended up in fifth place with a portfolio share of 2.63 percent in the third quarter of 2025 and thus had to give up one place. Fisher also increased here and acquired 621,669 Amazon shares in the reporting period, bringing the number of stocks in the portfolio to 33,103,688, which were worth $7.27 billion.
Source: sec.gov, Image: Jonathan Weiss / Shutterstock.com
4th place: Alphabet A shares
Ken Fisher also increased the A shares of Google parent company Alphabet in the third quarter – his company acquired 837,893, thereby increasing the number of shares in the portfolio to 37,522,955. At the end of the quarter, the investment was worth $9.12 billion and had a portfolio share of 3.30 percent – this moved Google shares from 5th place in the previous quarter to 4th place.
Source: sec.gov, Image: Fenixx666 / Shutterstock.com
3rd place: Microsoft
24,842,396 Microsoft shares were in Fisher Asset Management’s portfolio in the third quarter after the asset manager increased its holdings by 545,027 shares (+2.24 percent). With a total value of 12.87 billion US dollars and a portfolio share of 4.66 percent, the US tech giant secured third place in the portfolio.
Source: sec.gov, Image: Volodymyr Kyrylyuk / Shutterstock.com
2nd place: Apple
The tech giant Apple was able to improve by one place. After finishing third in the previous quarter, the company’s 54,442,459 shares now moved up to second place. The overall portfolio was increased by 886,473 shares. At the end of the quarter, the investment was worth $13.86 billion and took up 5.02 percent of the total portfolio.
Source: sec.gov, Image: Marek Szandurski / Shutterstock.com
1st place: NVIDIA
The AI top dog NVIDIA remained in first place in Fisher Asset’s portfolio in the third quarter. The asset manager owned 84,563,575 shares at the end of the quarter – 2,052,153 more than in the previous quarter. With a portfolio share of 5.18 percent, NVIDIA remained Fisher’s largest holding and had a portfolio value of around 15.78 billion US dollars.
Source: sec.gov, Image: Katherine Welles / Shutterstock.com
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