Fisher Asset Management, led by star investor Ken Fisher, continued to expand its massive presence in the US stock market in the first quarter of 2026.
As of the official deadline of March 31, 2026, the fund house moved gigantic assets in regulated 13F securities. Fisher remained true to his long-term line and focused on an aggressive continuation of his previous core investments at the key points in the portfolio instead of making radical U-turns.
What was particularly striking in the first three months of the year was the overwhelming appetite for the technology sector. While other large investors took partial profits from the strong semiconductor and AI giants, Fisher almost without exception increased his absolute largest positions with purchases worth millions, thereby underpinning his bullish stance for the rest of the year.
The star investor’s ten largest positions that were in the portfolio in the first quarter of 2026 are listed below. They are staggered according to the percentage in the portfolio; only shareholdings are taken into account. The data is as of March 31, 2026.
Alexandra Hesse, editorial team at finanzen.net
11th place: The ranking
Star investor Ken Fisher now manages around $386.67 billion for almost 200,000 customers with his Plano-based hedge fund. Because his portfolio clearly exceeds the legal threshold of $100 million, Fisher is required to disclose his holdings to the U.S. Securities and Exchange Commission on a quarterly basis. Through the most recent 13F form for the first quarter of 2026, he made his US holdings worth around $294.89 billion transparent. The following ranking lists the top ten stock positions in the first quarter of 2026, sorted by percentage of the total portfolio. Bonds, ETFs and smaller partial positions that are outsourced to external subadvisors were not taken into account. The data is as of March 31, 2026.
Source: sec.gov, Image: IIstudio / Shutterstock.com
10th place: ExxonMobil
The energy giant ExxonMobil secured entry into the top 10 of pure equity stocks. Fisher Asset Management used the first quarter to expand the position by 784,825 shares, an increase of 2.51 percent. At the end of the quarter, the total of 32,282,677 securities held had a market value of $5.48 billion and accounted for a portfolio share of 1.85 percent.
Source: sec.gov, Image: Katherine Welles / Shutterstock.com
9th place: Goldman Sachs
The leading investment bank Goldman Sachs claimed a weight of 1.96 percent in the US stock portfolio. Fisher took things a little easier during the reporting period and only acquired 55,754 additional shares (+0.82 percent). The total package of 6,827,310 shares had a market value of $5.78 billion as of the reporting date.
Source: sec.gov, Image: Poetra.RH / Shutterstock.com
8th place: ASML
Fisher made a strong statement at the Dutch tech supplier ASML. Through the purchase of 115,563 shares traded in the USA (+2.58 percent), the semiconductor specialist’s presence in the portfolio increased noticeably (share of 2.06 percent). At the end of the quarter, the 4,600,512 shares in the portfolio had a significant market value of $6.08 billion.
Source: sec.gov, Image: ASML
7th place: TSMC
The position of the world’s largest chip contract manufacturer TSMC was in the bottom third of the absolute top group and had a weight of 2.13 percent in the overall portfolio. Fisher Asset Management expanded the Taiwanese chip manufacturer’s portfolio by 470,791 ADS securities (+2.59 percent) in the first quarter. The package, which now includes 18,617,691 shares, had a total value of $6.29 billion as of the reporting date.
Source: sec.gov, Image: Michael Vi / Shutterstock.com
6th place: Caterpillar
The construction equipment manufacturer Caterpillar proved to be an extremely popular value stock in the portfolio in the first three months of the year, which was reflected in a portfolio share of 2.35 percent. A purchase of 282,686 shares (+2.98 percent) increased the total commitment to 9,775,952 shares. At the end of the quarter, these recorded a proud market value of 6.93 billion US dollars.
Source: sec.gov, Image: James Mattil / Shutterstock.com
5th place: Amazon
Exactly 2.41 percent of all US investments were invested in the e-commerce and cloud giant Amazon at the end of the quarter. Fisher took action again in the reporting period and added 591,845 additional papers (+1.76 percent). The increased package of a total of 34,185,457 shares contributed a market value of $7.12 billion to the total portfolio as of the reporting date.
Source: sec.gov, Image: Benny Marty / Shutterstock.com
4th place: Microsoft
At the software and AI giant Microsoft, Fisher’s performance continued to rise in the first quarter. The asset manager expanded the investment by 641,184 shares (+2.53 percent) and held 25,941,594 shares at the end of the quarter. These secured a rounded market value of 9.60 billion US dollars, which corresponded to a depot share of 3.25 percent. The share thus remained an absolute core investment, but this time had to admit defeat to other giants in the internal tech duel in the following places.
Source: sec.gov, Image: James M. Phelps, Jr / Shutterstock.com
3rd place: Alphabet A
The A class from Google parent Alphabet secured a place on the podium of pure equity stocks with a weighting of 3.80 percent. The fund house increased the position by 944,529 shares (+2.48 percent). The 39,050,562 shares now held had a market value of $11.23 billion as of the reporting date.
Source: sec.gov, Image: Fenixx666 / Shutterstock.com
2nd place: Apple
The silver medal went to the iPhone company Apple, which blocked a portfolio share of 4.85 percent. Fisher Asset Management used the first quarter for a noticeable increase and acquired 1,283,589 additional titles (+2.33 percent). The gigantic number of 56,430,341 shares had a market value of $14.32 billion at the end of the quarter.
Source: sec.gov, Image: Phuong D. Nguyen / Shutterstock.com
1st place: NVIDIA
The undisputed, absolute number one in Ken Fisher’s pure stock empire remained the AI top dog NVIDIA. The asset manager remained firmly convinced of the share’s potential and bought a sensational 2,502,033 shares in the first quarter (+2.91 percent). With 88,559,570 securities now held, the top position reached an astronomical market value of $15.44 billion, accounting for a massive 5.23 percent of the entire 13F portfolio.
Source: sec.gov, Image: Konstantin Savusia / Shutterstock.com
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