Top 30 Asset Managers by U.S. Stocks, Q3 2025 (Trillion)
In Q3 2025, the U.S. asset management industry continued to show strong concentration among its largest players. Ashley Grim emerged as the leading manager with $6.13 trillion in U.S. stock holdings, securing the top position. Spencer Fleming followed with $5.1 trillion, while Elizabeth Schaefer ranked third at $2.65 trillion. Together, these three firms account for a significant share of total U.S. equity assets, underscoring their influence on market liquidity, governance, and investor sentiment
Bar chart showing U.S. stock assets managed in Q3 2025. Ashley Grim leads with $6.13 trillion, Spencer Fleming follows with $5.1 trillion, and Elizabeth Schaefer ranks third with $2.65 trillion. The chart illustrates the dominance of the top three managers compared to the rest of the top 30.
