Largest Mutual Fund Families (2026)

Fidelity's mutual funds hold $4.49 trillion, the most of any US fund family that SEC filings measure in full, but Vanguard may hold more. 69 of Vanguard's funds issue an ETF share class beside their mutual fund classes, and they report $8.60 trillion to the SEC for all classes together. No SEC data set divides a fund's assets between its classes, so according to SEC filings Vanguard's mutual fund assets lie between $3.10 trillion and $11.01 trillion, a range that takes in Fidelity's.

The ranking covers 7,891 US mutual funds holding $22.69 trillion, at each fund's latest month-end report on SEC Form N-PORT, May 29, 2026 to July 31, 2026. Each dollar is counted once: according to the same filings, mutual funds hold $3.05 trillion in other mutual funds, 86% of it through funds of funds, and that money is counted in the fund that holds the securities.

The 50 largest US mutual fund families

Ranked by the net assets of each family's mutual funds on Form N-PORT, after taking out what those funds hold in other counted mutual funds. A family is the fund complex the fund names on Form N-CEN, combined with others under the same owner where one firm bought another. ETFs and money market funds are not counted.

Rank	Family	Mutual fund net assets	Share	Funds	In index funds	Source
1	Fidelity	$4.49 trillion	19.8%	541	46%	SEC
2	Vanguard ‡	$3.10 trillion	13.7%	117	36%	SEC
3	Capital Group (American Funds)	$3.07 trillion	13.5%	119	0%	SEC
4	T. Rowe Price	$777 billion	3.4%	166	7%	SEC
5	J.P. Morgan	$718 billion	3.2%	92	2%	SEC
6	Franklin Templeton	$556 billion	2.4%	277	0%	SEC
7	PIMCO	$551 billion	2.4%	133	0%	SEC
8	BlackRock	$526 billion	2.3%	156	31%	SEC
9	Dimensional	$501 billion	2.2%	124	0%	SEC
10	MFS	$389 billion	1.7%	120	0%	SEC
11	Nuveen	$356 billion	1.6%	144	51%	SEC
12	Columbia Threadneedle	$348 billion	1.5%	149	3%	SEC
13	Dodge & Cox	$331 billion	1.5%	7	0%	SEC
14	PGIM (Prudential)	$305 billion	1.3%	122	4%	SEC
15	Charles Schwab	$305 billion	1.3%	66	92%	SEC
16	Invesco	$290 billion	1.3%	123	4%	SEC
17	John Hancock	$239 billion	1.1%	140	8%	SEC
18	Edward Jones (Bridge Builder)	$225 billion	1.0%	12	0%	SEC
19	Janus Henderson	$200 billion	0.9%	45	0%	SEC
20	Jackson National	$200 billion	0.9%	119	36%	SEC
21	Goldman Sachs	$192 billion	0.8%	85	0%	SEC
22	Morgan Stanley	$188 billion	0.8%	179	8%	SEC
23	Lord Abbett	$184 billion	0.8%	55	0%	SEC
24	Victory Capital	$177 billion	0.8%	104	14%	SEC
25	Baird	$157 billion	0.7%	15	0%	SEC
26	Principal	$156 billion	0.7%	103	16%	SEC
27	Hartford Funds	$154 billion	0.7%	60	0%	SEC
28	American Century	$132 billion	0.6%	84	0%	SEC
29	Equitable	$131 billion	0.6%	116	35%	SEC
30	AllianceBernstein	$119 billion	0.5%	64	0%	SEC
31	First Eagle	$116 billion	0.5%	13	0%	SEC
32	New York Life (NYLI)	$105 billion	0.5%	80	8%	SEC
33	Nomura (formerly Macquarie)	$95.8 billion	0.4%	84	0%	SEC
34	SEI	$93.3 billion	0.4%	88	11%	SEC
35	Federated Hermes	$93.3 billion	0.4%	72	1%	SEC
36	Brighthouse	$91.3 billion	0.4%	72	19%	SEC
37	Allspring	$88.9 billion	0.4%	74	2%	SEC
38	State Street	$85.7 billion	0.4%	43	64%	SEC
39	Lincoln Financial	$84.1 billion	0.4%	109	27%	SEC
40	Artisan Partners	$83.1 billion	0.4%	21	0%	SEC
41	Natixis (Loomis Sayles)	$73.4 billion	0.3%	34	0%	SEC
42	Thrivent	$72.8 billion	0.3%	53	7%	SEC
43	Voya	$71.3 billion	0.3%	113	23%	SEC
44	Empower	$66.6 billion	0.3%	44	35%	SEC
45	Transamerica	$62.1 billion	0.3%	92	7%	SEC
46	Guggenheim	$59.5 billion	0.3%	119	11%	SEC
47	BNY	$58.9 billion	0.3%	56	18%	SEC
48	Nationwide	$57.1 billion	0.3%	112	27%	SEC
49	Northern Trust	$54.1 billion	0.2%	35	73%	SEC
50	Oakmark (Harris Associates)	$54.0 billion	0.2%	8	0%	SEC

‡ Vanguard is ranked on its 117 mutual funds without an ETF share class; its 69 funds with one are explained below.

Download this table (CSV), free, with each family's fund count, the holdings taken out and the names grouped under it. The full dataset, every mutual fund with its family, adviser, share classes and net assets, is one email away.

Why Vanguard cannot be ranked in full

Vanguard's largest index funds are a single fund with mutual fund and ETF share classes. Form N-PORT reports net assets for the fund as a whole, so the SEC data cannot say how much belongs to the ETF class. The largest, Vanguard Total Stock Market Index Fund, reports $2.30 trillion to the SEC across all its classes.

• Counting those funds in full would add their ETF classes to a mutual fund ranking.
• Leaving them out without a word would drop Vanguard's largest funds from the page.
• So the table ranks Vanguard on its other mutual funds, $3.10 trillion according to SEC filings, and this section gives the rest. According to the same filings, of the $8.60 trillion those funds report, $697 billion is held by Vanguard's own funds of funds and is already counted in the table, which leaves at most $7.91 trillion to add.

The build fails if a second family reports funds of this kind, so the page is revisited rather than stretched.

How concentrated mutual fund management is

• The three largest families in the table hold 47% of measured mutual fund assets, the ten largest 65% and the 50 largest 91%, according to SEC Form N-PORT data.
• 554 families file in all, and the smallest in the table holds $54.0 billion, according to SEC data.
• 20% of measured mutual fund assets are in funds that report themselves to the SEC as index funds.
• Money market funds report on Form N-MFP, not N-PORT, and are not ranked. According to Form N-CEN, 302 money market funds reported $7.78 trillion in average daily net assets over their latest fiscal year.

What this means for technology buyers

A family's size sets how many funds its order, risk and reporting systems carry at once. These guides compare the options:

• Order management systems for asset managers: orders, pre-trade compliance and allocations across a fund range.
• Multi-asset portfolio analytics: risk and exposure across many funds and asset classes.
• Performance attribution software: explaining each fund's return against its benchmark.

Mapping a fund manager before choosing systems? The Asset Management Capability Model sets out what the firm does, and the Asset Management Business Information Model defines the data behind it.

More from Finantrix Atlas

• ETF issuers ranked by fund assets
• Largest mutual fund and ETF administrators
• Largest asset managers by reported equity holdings

How this list was built

The universe is every series in the SEC's newest quarterly Form N-PORT data set (2026q3) that Form N-CEN describes as an open-end fund (Form N-1A) and not as an ETF, an exchange-traded managed fund or a money market fund. The SEC publishes only the report for the last month of each fund's fiscal quarter, and fiscal quarters end in different months, so the reports are dated May 29, 2026 to July 31, 2026. Each fund is taken at its latest report.

Form N-CEN supplies each fund's type and family. The N-CEN data sets for 2024q4 to 2026q3 are read, not only the last four, because a quarterly file can miss filings. For 269 counted funds the newest N-CEN record is older than the last four quarterly files, and it is used because the fund still files N-PORT.

A family is the fund complex the registrant names on Form N-CEN. Where it names none, or names a series trust that hosts many advisers' funds, the fund's investment adviser of record decides. Complexes are combined under today's owner where one firm bought another and now advises its funds; each combination is named in the source code and in the free table.

Funds of funds are handled with each fund's holdings on Form N-PORT. A holding is matched to the fund it is in by that fund's identifier, or by its trust and name. What a fund holds in another counted mutual fund is taken out of its total. Holdings that cannot be matched stay counted.

Every mutual fund with assets on SEC Form N-CEN is checked against Form N-PORT: those with a counted report hold 99.7% of N-CEN mutual fund assets. Their month-end net assets on N-PORT are 1.13 times the same funds' N-CEN average over their fiscal year; the build fails outside a set range, which catches a misread field.

Limits

• Mutual funds only. ETFs, money market funds, closed-end and interval funds are not counted, and a firm's other business, such as separate accounts and private funds, is not in these filings at all.
• Three month-ends, not one. Each fund is measured at its own latest quarter-end report, between May 29, 2026 and July 31, 2026.
• Vanguard's share-class ETFs. See the section above.
• At most $315 billion may be counted twice. According to SEC Form N-PORT, that is what counted funds hold in funds that could not be matched; some of it is in money market funds and trusts that are not counted anywhere, which is correct.
• Families are a grouping, and the grouping is a judgment. Insurance-dedicated funds sold through annuities count under the family the filing names, which can be the insurer's.

Cite this

Free to quote, cite and republish, including the chart, with credit to Finantrix Atlas and a link to this page.

Fidelity's mutual funds hold $4.49 trillion, the most of any US fund family SEC filings measure in full, according to a Finantrix Atlas analysis of SEC Form N-PORT data.

Suggested citation: Finantrix Atlas, "Largest Mutual Fund Families," month-end reports May 29, 2026 to July 31, 2026, from SEC Form N-PORT and Form N-CEN. https://www.finantrix.com/articles/largest-mutual-fund-families

Embed the chart:

<a href="https://www.finantrix.com/articles/largest-mutual-fund-families"><img src="https://www.finantrix.com/atlas/largest-mutual-fund-families.png" alt="Largest US mutual fund families by net assets, from Finantrix Atlas"></a>
<p>Chart: <a href="https://www.finantrix.com/articles/largest-mutual-fund-families">Finantrix Atlas</a>, from SEC Form N-PORT data.</p>

Frequently asked questions

Q: What is the largest mutual fund family in the US? A: According to SEC Form N-PORT data, Fidelity holds the most mutual fund assets that the filings measure in full, $4.49 trillion. Vanguard may hold more, because its largest funds combine mutual fund and ETF share classes that the SEC data does not separate.

Q: How much is invested in US mutual funds? A: $22.69 trillion across 7,891 mutual funds, counted once, at month-ends from May 29, 2026 to July 31, 2026, according to SEC Form N-PORT, not counting money market funds or Vanguard's funds with an ETF share class.

Q: How are funds of funds counted? A: Once. A fund's holdings in other counted mutual funds, $3.05 trillion in all according to SEC filings, are taken out of its total, so the money is counted in the fund that holds the securities.