In this article, we will take a detailed look at Billionaire Ken Fisher’s Top 13 Growth Stock Picks.
“Who am I to tell you anything, much less anything that counts? Or that there are only three questions that count and I know what they are? Why should you bother reading any of this? Why listen to me at all?”
This is the opening paragraph in one of Kenneth Lawrence Fisher’s books, “The Only Three Questions That Count: Investing by Knowing What Others Don’t.” Fisher has over ten books to his name, but that is not why investors pay attention to what he has to say whenever he says it. Known to many as Ken Fisher, the 74-year-old is ranked at position 212 in the latest Forbes Billionaires list (as of March 11, 2025). This is thanks to the $11.2 billion of wealth he has amassed through Fisher Investments, a firm that has more than $270 billion in assets under management.
Fisher has a lot to say about the market, and he is an active commentator on current events. As you’d expect, he had something to say about Trump’s tariffs. On Tuesday, March 11, 2025, President Trump doubled down on tariff talks, threatening to double the planned tariff on Canada-imported aluminum and steel to 50%. He said the levies would be effected in 24 hours and that if Canada doesn’t play ball, he “would set tariffs on cars from Canada so high that they would permanently shut down the Canadian car industry,” the New York Times reported.
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President Trump has given four reasons for the tiff with Canada. On raising tariffs on Canadian aluminum and steel, the president argued that the move is a response to Ontario bumping up prices on the electricity exported to the United States. He has also mentioned concerns about fentanyl trafficking, high levies on dairy imports, and that the tariffs are the current administration’s “broader strategy to use economic leverage to address national security concerns and promote domestic manufacturing.”
Fisher agrees with President Trump but only as far as the tariffs are negotiating tools. In a recent video posted on YouTube, he explains that tariffs are rarely fully enforced and argues that the actual impact of tariffs is often much smaller than people fear. The levies might be set at, say, 10-15%, but the real cost impact on goods is usually around 1.5%. He also emphasizes that markets often overreact to tariff announcements, causing unnecessary fear and volatility.
In other words, Fisher’s mind is clear that the current selloff in the US stock market is an overreaction that will settle. It is impossible to argue with a person whose stock picks have generated so much value in so many years. Fisher Asset Management, the investment vehicle of Fisher Investments, currently has 975 holdings, with a calculated portfolio value of $251 billion. This value has increased drastically over the past 10 years, with a slight dent during the COVID-19 pandemic.
Ken Fisher of Fisher Asset Management
Our Methodology
We combed Fisher Asset Management’s Q4 2024 13F filings to identify the top growth stocks in which the firm is invested in. From the resultant data, we settled on the top 13 growth stock picks and analyzed them to determine why they stand out as growth picks. Finally, we ranked the stocks in ascending order based on the value of Fisher Asset Management equity stakes while also detailing hedge fund sentiment around each stock.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Billionaire Ken Fisher’s Top 13 Growth Stock Picks
13. Advanced Micro Devices Inc. (NASDAQ:AMD)
Fisher Asset Management’s Equity Stake: $2.91 Billion
Number of Hedge Funds Holding Stakes: 96
Advanced Micro Devices Inc. (NASDAQ:AMD) is a semiconductor company that designs and manufactures computer hardware components, including central processing units (CPUs), graphics processing units (GPUs), and other related technologies. It is one of the top growth stock picks, benefiting from growing demand for its solutions amid the booming data center AI business.
Advanced Micro Devices Inc.’s (NASDAQ:AMD) revenue hit a record high of $25.8 billion after a 14% year-over-year increase in 2024 as net income rose 26% and free cash flow more than doubled, affirming solid growth metrics. AMD is witnessing strong growth with its GPUs, considering the market for AI infrastructure is expanding at an enormous rate overall. It continues to offer an alternative to a capacity-constrained Nvidia, as its GPUs are affordable and reliable.
Advanced Micro Devices Inc. (NASDAQ:AMD) has been gaining traction in the CPU data center market. As of the end of Q4 2024, its market share among hyperscalers was far above 50%. Although this market isn’t as big as the GPU market, it is nonetheless expanding swiftly due to rising investments in AI infrastructure. Similarly, AMD’s data center revenue reached $3.9 billion, a 69% year-over-year increase in Q4 of 2024. This revenue category increased 94% to $12.6 billion during the course of the year, underlying robust growth.
12. Oracle Corp (NYSE:ORCL)
Fisher Asset Management’s Equity Stake: $2.99 Billion
Number of Hedge Funds Holding Stakes: 105
Oracle Corp (NYSE:ORCL) is a computer technology company that develops and markets software applications, including its flagship Oracle Database. It also offers cloud computing services and hardware. It is one of billionaire Ken Fisher’s top growth stock picks, delivering a respectable 230% gain against the Nasdaq 100’s 143% gain over the past five years.
The impressive stock gain comes from Oracle Corp (NYSE:ORCL) delivering solid financial results over the years. For starters, revenue for its third quarter of fiscal 2025 was up by 8% to $14.1 billion, driven by a 23% increase in cloud revenue. Earnings per share grew 4% year-over-year to $1.47. Management is already forecasting a 9% increase in revenue for the fourth quarter of fiscal 2025.
Robust revenue and earnings growth are being driven by strong demand for the company’s cloud infrastructure for artificial intelligence training and inference. That’s evident, given that the value of Oracle’s contracts grew by 62% in the third quarter to $130 billion. The fact that the metric grew faster than earnings affirms demand for cloud structure continues to exceed supply as more companies turn to its offerings. Owing to the strong demand for cloud infrastructure, Oracle Corp (NYSE:ORCL) expects its revenue to grow by 15% in the next fiscal year and jump by 20% in fiscal 2027.
11. Visa Inc. (NYSE:V)
Fisher Asset Management’s Equity Stake: $3.08 Billion
Number of Hedge Funds Holding Stakes: 181
Visa Inc. (NYSE:V) is a leading provider of payment processing technology. It offers VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It is one of the top growth stock picks in Ken Fisher’s portfolio owing to its strong financial results, surging cross-border volumes and growing adoption of digital payments.
Visa Inc. (NYSE:V) delivered strong fiscal 2024 results characterized by a 10% year-over-year revenue increase to $35.9 billion. The robust growth continued in the first quarter of 2025, whereby revenue was up by 10% to $9.5 billion. The stellar financial results are being driven by increased cross-border volume of 15% in fiscal 2024 and 16% in the first quarter of fiscal 2025.
Additionally, Visa Inc. (NYSE:V) benefits from expansion in key regions of North America, Asia Pacific, Europe, and Latin America, which triggered a 14% increase in adjusted earnings per share in Q1 of fiscal 2025 to $2.75. Visa remains well positioned to benefit as global economies transition from cash to digital payments.
10. Meta Platforms, Inc. (NASDAQ:META)
Fisher Asset Management’s Equity Stake: $3.91 Billion
Number of Hedge Funds Holding Stakes: 262
Meta Platforms, Inc. (NASDAQ:META) is a technology giant that owns popular social media platforms, including Facebook, Instagram, and WhatsApp. Its family of apps segment generates over 98% of total revenue through digital advertising.
Meta Platforms, Inc.’s (NASDAQ:META) revenue has grown by 39% from $118 billion in 2021 to $164.5 billion in 2024. The robust growth comes amid rising ad impressions and an increase in the average price per ad on the company’s flagship apps. Integrating artificial intelligence features into the apps has also triggered a 17% increase in the daily active users, allowing the company to attract more advertising campaigns.
The Meta Platforms family of apps remains the go-to destination for advertisers as engagement levels have soared, especially on Instagram. Revenue growth of 22% in 2024 came as advertisers continued to invest in getting their brands in the over 3.3 billion people using Meta Platforms, Inc.’s (NASDAQ:META) services. While Meta AI assistant has gained 700 million users, the number is expected to rise to 1 billion, affirming strong underlying growth. As Meta AI gets smarter, it should unlock new revenue streams.
9. Eli Lilly and Company (NYSE:LLY)
Fisher Asset Management’s Equity Stake: $4.04 Billion
Number of Hedge Funds Holding Stakes: 115
The American pharmaceutical giant Eli Lilly and Company (NYSE:LLY) has been discovering, developing, and marketing medicines since 1876. It stands out as one of the best growth stocks, boasting a robust pipeline of diabetes and weight loss drugs. Its GLP-1-approved drugs in Zepbound (weight loss) and Mounjaro (diabetes) continue to generate billions of dollars in revenues and are expected to be key growth drivers.
It also boasts of Kisunla, a drug poised to strengthen its prospects in the Alzheimer treatment segment. Eli Lilly and Company (NYSE:LLY) has also inked a strategic partnership with Atkins Oncology to develop radiopharmaceuticals and targeted cancer treatments. Additionally, the company has announced plans to invest $27 billion in four new manufacturing locations as it tries to ramp up production of key drugs amid strong market demand. Eli Lilly plans to avert the risk of losing sales due to strong demand by bolstering operations.
Strong product demand has been the catalyst behind robust financial results going by 2024 revenues increasing by 32% to $45.04 billion. Net income doubled to $10.6 billion as it also generated $8.8 billion in cash flow from operations. Strong financial results leave Eli Lilly and Company (NYSE:LLY) in a solid position to continue reinvesting in its pipelines to sustain long-term growth.
8. Salesforce, Inc. (NYSE:CRM)
Fisher Asset Management’s Equity Stake: $4.16 Billion
Number of Hedge Funds Holding Stakes: 162
Salesforce, Inc. (NYSE:CRM) is a leader in cloud software and is best known for customer relationship management (CRM) solutions. It also offers cloud-based marketing, e-commerce, analytics, and enterprise collaboration services, affirming its diversified business.
Like most tech giants in the current environment, Salesforce, Inc. (NYSE:CRM) has prioritized AI integration into its products. The integration is already paying off as the company delivered $900 million in data and AI annual recurring revenue, up 120% for its fiscal 2025. Its full-year revenue was up 9% to $37.9 billion as operating cash flow increased 28% to $13.1 billion.
Salesforce, Inc. (NYSE:CRM) has already unveiled Agentforce 2dx, an enhanced version of its digital labor platform that embeds proactive agentic AI into any workflow. This release expands Agentforce’s capabilities beyond chat interfaces and enables AI agents to work behind the scenes without constant human oversight. According to outgoing finance officer Amy Weaver, Agentforce will make a significant contribution to revenue growth in fiscal 2026.
7. Broadcom Inc. (NASDAQ:AVGO)
Fisher Asset Management’s Equity Stake: $5.54 Billion
Number of Hedge Funds Holding Stakes: 161
Broadcom Inc. (NASDAQ:AVGO) is a technology giant that designs and develops semiconductor and infrastructure software solutions. Its solutions are used in data centers, networking, software, broadband, wireless, storage and industrial sectors. It is one of the top growth stocks in Ken Fisher’s portfolio as it benefits from strong demand for its chips for use in data centers and cloud computing.
Broadcom Inc.’s (NASDAQ:AVGO) competitive edge stems from designing and developing application-specific integrated circuits (ASICs) that are task-specific instead of general-purpose graphics and central processing units. Consequently, it benefits from the growing demand for ASICs for use in AI software.
Broadcom Inc.’s (NASDAQ:AVGO) AI revenue increased by more than 300% in fiscal 2024 to $12.2 billion. The momentum continued in the fiscal 2025 first quarter as AI revenue increased 77% year-over-year to $4.1 billion. Further affirming Broadcom’s growth metrics is the fact that the serviceable addressable market (SAM) for its AI chips is expected to grow to between $60 billion and $90 billion over the next three fiscal years.
6. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Fisher Asset Management’s Equity Stake: $5.60 Billion
Number of Hedge Funds Holding Stakes: 186
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is a leading contract chipmaker. The firm manufactures chips for many global tech giants, including Apple Inc. (NASDAQ:AAPL), NVIDIA Corp. (NASDAQ:NVDA), and Intel Corp. (NASDAQ:INTC). The company controls nearly two-thirds of the foundry business because it can push down chip sizes while increasing processing speeds and lowering power consumption.
Its competitive edge in the sector was the catalyst behind a 37% increase in Q4 2024 revenue totaling $26.88 billion. Its earnings also popped 57% to $2.24 a share since more AI chips are required to execute AI workloads. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) continues to benefit greatly from rising investments in AI infrastructure. Management expects strong AI demand to fuel more growth, which could result in AI sales more than doubling in 2025.
Consequently, revenue is expected to grow at a compound annual growth rate of 45% over the next five years, affirming why Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is a top growth stock in Ken Fisher’s portfolio. The company has already announced an additional $100 billion investment to an ongoing $65 billion investment plan in the US as it seeks to bolster its manufacturing capacity to meet the growing demand for its services.
5. Alphabet Inc. (NASDAQ:GOOGL)
Fisher Asset Management’s Equity Stake: $9.58 Billion
Number of Hedge Funds Holding Stakes: 234
Alphabet Inc. (NASDAQ:GOOGL) is a tech giant best known for its search engine Google. It also generates most of its revenue from advertising on Google Search and YouTube. The company is also one of the three key global cloud services industry players.
Alphabet Inc. (NASDAQ:GOOGL) is banking heavily on AI to strengthen its growth metrics on Google services and cloud computing. CEO Sundar Pichai explicitly pointed out that AI is already a huge part of the company’s revenue streams and is expected to be a key growth driver.
He said: “Q4 was a strong quarter driven by our leadership in AI and momentum across the business. We are building, testing, and launching products and models faster than ever, and making significant progress in compute and driving efficiencies.”
Revenue in the quarter increased 12% year-over-year to $96.5 billion, thanks to the $84.1 billion from the Google Services segment. Nevertheless, Google Cloud revenues surged the most by 30% to $12.0 billion. The growth was primarily driven by Google Cloud Platform core products, AI Infrastructure, and Generative AI Solutions.
4. Amazon.com, Inc. (NASDAQ:AMZN)
Fisher Asset Management’s Equity Stake: $9.91 Billion
Number of Hedge Funds Holding Stakes: 338
Amazon.com, Inc. (NASDAQ:AMZN) has established itself as a global e-commerce and cloud computing giant. Its vast ecosystem encompasses retail, digital streaming, cloud computing, AI, and advertising services. The company has found a perfect approach to translate its competitive edge into one of the fastest-growing companies.
Amazon.com, Inc.’s (NASDAQ:AMZN) net sales for fiscal year 2024 rose by 11% to $638.0 billion as net income nearly doubled to $59.2 billion, or $5.53 per diluted share. Its North American e-commerce division, which enjoyed an especially prosperous holiday shopping season, was the primary driver of the solid financial results. Management expects the first quarter of 2025 to be top line with growth of between 5% and 9%, affirming underlying growth.
As it has been for many years now, AWS, the cloud computing division, remains a key driver of bottom-line growth. In fiscal 2024, the segment grew 19% year-over-year to $107.6 billion in revenue with an operating income of $39.8 billion. Additionally, Amazon.com, Inc. (NASDAQ:AMZN) is already pursuing growth opportunities in the cloud infrastructure segment as it has already unveiled its custom-made AI chip Trainium, designed to train generative AI models.
3. Microsoft Corporation (NASDAQ:MSFT)
Fisher Asset Management’s Equity Stake: $11.90 Billion
Number of Hedge Funds Holding Stakes: 317
Microsoft Corporation (NASDAQ:MSFT) is a technology company that develops and licenses software, services, and hardware. The company has also invested significantly in artificial intelligence as it looks to accelerate growth on its cloud unit Azure and search engine Bing. The investments are already bearing fruit as the annual revenue run rate of $13 billion is already up 175% for the current fiscal year, surpassing expectations.
In its fiscal second quarter for fiscal 2025, Microsoft Corporation (NASDAQ:MSFT) delivered a 12% year-over-year revenue increase to $69.6 billion as net income rose 10% to $24.1 billion. The cloud business is increasingly playing a central role in driving growth as revenue under the intelligent cloud segment grew 21% to $40.9 billion. The unit got a boost of 13%, based on the fast-growing demand for AI applications that the company offers.
Microsoft Corporation (NASDAQ:MSFT) is positioned for sustained growth as cloud adoption accelerates and AI integration expands across all the product suites. Sales of cloud computing are expected to climb at a rate of 21% per year through 2030, while sales of enterprise software are expected to grow at a rate of 12% per year. With that, Microsoft has a good chance of increasing its earnings by double digits by the end of the decade. Analysts expect Microsoft’s earnings to grow at 13% annually through fiscal 2026.
2. NVIDIA Corporation (NASDAQ:NVDA)
Fisher Asset Management’s Equity Stake: $13.21 Billion
Number of Hedge Funds Holding Stakes: 223
NVIDIA Corporation (NASDAQ:NVDA) is a semiconductor giant that designs and supplies graphics processing units (GPUs) and application programming interfaces (APIs). It has also emerged as a leading artificial intelligence (AI) hardware and software supplier. It is one of the top growth stocks because it can capitalize on lucrative growth trends, including gaming personal computers, cryptocurrency mining, high-performance computing and artificial intelligence AI.
NVIDIA Corporation (NASDAQ:NVDA) controls a large portion of the data center graphics card market. To support their rapidly expanding cloud computing businesses, IT giants Microsoft, Alphabet, and Meta Platforms are increasing their investments in AI-related infrastructure. A large portion of the $220 billion that the companies intend to invest in 2025 will go toward Nvidia in the upcoming years.
Given that it recorded amazing growth, with Q4 of Fiscal 2025 revenue leaping 78% year over year and adjusted earnings per share jumping 71%, Nvidia’s growth metrics remain intact. With a compound annual growth rate (CAGR) of 69% over the previous three years and a 114% year-over-year revenue spike in fiscal year 2025, NVIDIA Corporation (NASDAQ:NVDA) has demonstrated impressive revenue growth, reaching $130.5 billion.
1. Apple Inc. (NASDAQ:AAPL)
Fisher Asset Management’s Equity Stake: $14.85 Billion
Number of Hedge Funds Holding Stakes: 166
Apple Inc. (NASDAQ:AAPL) tops Ken Fisher’s portfolio with a massive $14.85 billion stake. The tech giant designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories. It also has a growing services business, including advertising, cloud services, and digital content.
While Apple Inc.’s (NASDAQ:AAPL) growth metrics have come under immense pressure due to stiff competition in the smartphone business, it continues delivering impressive results. For starters, revenue in the fiscal first quarter of 2025 was up 4% to $124.3 billion. The increase was mostly driven by a 16% and 15% increase in Mac and iPad sales. Additionally, the services segment is emerging as a key growth driver, going by a 14% jump in revenue to $26.3 billion, helping offset an 8% slump in iPhone sales.
Wedbush analyst Dan Ives insists Apple Inc. (NASDAQ:AAPL) is a top growth stock headed for a ‘golden era of growth’ driven by demand for artificial intelligence. While the company’s flagship iPhone product line has come under pressure in recent years, Ives expects a multi-year iPhone upgrade cycle with the prospect of selling 240 million iPhones on AI integration.
While we acknowledge the potential of Apple Inc. (NASDAQ:AAPL) 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 AAPL but that trades at less than 5 times its earnings check out our report about the cheapest AI stock.
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