Fisher Asset Management 13F, Q2 2025
Ken Fisher · quarter ending 30 June 2025 · filed 13 August 2025 · SEC CIK 850529
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q2 2025
The 25 largest of 986 positions. Weights are against the whole filed book. Changes are in shares held, against the Q1 2025 filing.
| Company | Ticker | Value | % of book | vs Q1 2025 |
|---|---|---|---|---|
| NVIDIA CORP COM | NVDA | $13.04B | 5.2% | -9% shares |
| MICROSOFT CORP | MSFT | $12.09B | 4.8% | -4% shares |
| APPLE INC | AAPL | $10.99B | 4.4% | unchanged |
| VANGUARD FDS INT-TERM CORP | VCIT | $8.48B | 3.4% | +5% shares |
| AMAZON COM INC COM | AMZN | $7.13B | 2.8% | unchanged |
| ALPHABET INC CLASS A | GOOGL | $6.47B | 2.6% | unchanged |
| ISHARES TR 7 10YR TR BD ETF | IEF | $5.52B | 2.2% | +5% shares |
| META PLATFORMS INC CL A | META | $4.69B | 1.9% | unchanged |
| GOLDMAN SACHS GROUP INC | GS | $4.63B | 1.8% | +4% shares |
| JPMORGAN CHASE & CO. | JPM | $4.46B | 1.8% | -16% shares |
| SAP SE ADR | SAP | $4.31B | 1.7% | +9% shares |
| TAIWAN SEMICONDUCTOR MFG L ADR | TSM | $4.00B | 1.6% | unchanged |
| WALMART INC | WMT | $3.88B | 1.5% | unchanged |
| CATERPILLAR INC | CAT | $3.66B | 1.4% | +2% shares |
| HOME DEPOT INC | HD | $3.64B | 1.4% | +3% shares |
| BROADCOM INC COM | AVGO | $3.41B | 1.4% | unchanged |
| ASML HOLDING N V NYS | $3.40B | 1.4% | +6% shares | |
| MORGAN STANLEY | MS | $3.39B | 1.3% | +3% shares |
| ELI LILLY & CO | LLY | $3.35B | 1.3% | -21% shares |
| EXXON MOBIL CORP | XOM | $3.33B | 1.3% | unchanged |
| COSTCO WHSL CORP NEW | COST | $3.08B | 1.2% | unchanged |
| RTX CORPORATION COM | RTX | $3.01B | 1.2% | +4% shares |
| CHEVRON CORP NEW | CVX | $2.98B | 1.2% | unchanged |
| AMERICAN EXPRESS CO | AXP | $2.79B | 1.1% | -3% shares |
| CITIGROUP INC | C | $2.74B | 1.1% | +3% shares |
What changed since Q1 2025
Against the Q1 2025 filing, Fisher Asset Management opened 94 new positions, added to 263, trimmed 455, left 174 unchanged and exited 107. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
and 86 more
Exited
- TENBwas $43.15M
- CRLwas $38.42M
- CNYAwas $25.02M
- FIVNwas $19.49M
- MKSIwas $4.26M
- BEACON ROOFING SUPPLY INCwas $3.62M
- DAYwas $3.01M
- ICHOR HOLDINGS SHSwas $2.74M
and 99 more
Other quarters
Source: SEC Form 13F-HR, accession 0000850529-25-000005, 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.