Fisher Asset Management 13F, Q1 2025
Ken Fisher · quarter ending 31 March 2025 · filed 14 May 2025 · SEC CIK 850529
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q1 2025
The 25 largest of 999 positions. Weights are against the whole filed book. Changes are in shares held, against the Q4 2024 filing.
| Company | Ticker | Value | % of book | vs Q4 2024 |
|---|---|---|---|---|
| APPLE INC | AAPL | $11.84B | 5.1% | -10% shares |
| NVIDIA CORP COM | NVDA | $9.83B | 4.3% | -8% shares |
| MICROSOFT CORP | MSFT | $9.46B | 4.1% | -11% shares |
| VANGUARD FDS INT TERM CORP | VCIT | $7.96B | 3.5% | +5% shares |
| AMAZON COM INC COM | AMZN | $6.20B | 2.7% | -28% shares |
| ALPHABET INC CLASS A | GOOGL | $5.72B | 2.5% | -27% shares |
| ISHARES TR 7 10YR TR BD ETF | IEF | $5.24B | 2.3% | +12% shares |
| JPMORGAN CHASE AND CO | JPM | $4.51B | 1.9% | +6% shares |
| ELI LILLY AND CO | LLY | $4.49B | 1.9% | +4% shares |
| META PLATFORMS INC CL A | META | $3.72B | 1.6% | -3% shares |
| EXXON MOBIL CORP | XOM | $3.62B | 1.6% | unchanged |
| HOME DEPOT INC | HD | $3.55B | 1.5% | unchanged |
| WALMART INC | WMT | $3.50B | 1.5% | -18% shares |
| SAP SE ADR | SAP | $3.49B | 1.5% | +154% shares |
| GOLDMAN SACHS GROUP INC | GS | $3.45B | 1.5% | +3% shares |
| CHEVRON CORP NEW | CVX | $3.42B | 1.5% | +3% shares |
| CATERPILLAR INC | CAT | $3.04B | 1.3% | unchanged |
| TAIWAN SEMICONDUCTOR MFG L ADR | TSM | $2.99B | 1.3% | -37% shares |
| COSTCO WHSL CORP NEW | COST | $2.96B | 1.3% | unchanged |
| UNITEDHEALTH GROUP INC | UNH | $2.75B | 1.2% | +53% shares |
| MORGAN STANLEY | MS | $2.72B | 1.2% | +2% shares |
| ASML HOLDING N V NYS | $2.65B | 1.1% | +26% shares | |
| RTX CORPORATION COM | RTX | $2.62B | 1.1% | +4% shares |
| VISA INC | V | $2.50B | 1.1% | -27% shares |
| ORACLE CORP | ORCL | $2.46B | 1.1% | -2% shares |
What changed since Q4 2024
Against the Q4 2024 filing, Fisher Asset Management opened 118 new positions, added to 338, trimmed 381, left 162 unchanged and exited 94. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
- SPOTIFY TECHNOLOGY S A$1.12B
- HSBC$896.63M
- LYG$504.71M
- DEUTSCHE BANK A G GRS$449.57M
- NWG$395.45M
- PPH$116.53M
- EWU$48.88M
- POWL$34.11M
and 110 more
Exited
- UMCwas $47.38M
- ONwas $28.12M
- AAwas $26.55M
- IPGPwas $18.17M
- KLICwas $18.11M
- H AND E EQUIPMENT SERVICES INCwas $17.07M
- SLABwas $14.82M
- SOLARWINDS CORPwas $13.89M
and 86 more
Other quarters
Source: SEC Form 13F-HR, accession 0000850529-25-000003, filed by Fisher Asset Management, LLC. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.