Fisher Asset Management Boosts Cheesecake Factory Stock Holdings

Institutional investor increases stake in restaurant chain by over 34% in Q3 2025

Published on Mar. 4, 2026

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Fisher Asset Management LLC, a major institutional investor, grew its position in shares of The Cheesecake Factory Incorporated (NASDAQ:CAKE) by 34.6% during the third quarter of 2025, according to a recent 13F filing with the Securities and Exchange Commission (SEC). The firm now owns 469,225 shares of the restaurant operator's stock, representing a 0.94% ownership stake valued at $25.6 million.

Why it matters

The Cheesecake Factory is a prominent casual dining chain with over 200 locations across the United States and international markets. Fisher Asset Management's increased investment signals confidence in the company's long-term growth prospects, even as the restaurant industry faces ongoing challenges from the pandemic and economic uncertainty.

The details

According to the 13F filing, Fisher Asset Management added 120,719 shares of Cheesecake Factory stock to its portfolio during the third quarter. This builds on the firm's existing position and now makes it one of the restaurant's largest institutional shareholders. The increased stake comes as Cheesecake Factory has worked to adapt its business model, including expanding takeout and delivery options, to navigate the pandemic's impact on the dining sector.

  • Fisher Asset Management filed its 13F report for Q3 2025 on March 4, 2026.

The players

Fisher Asset Management LLC

A major institutional investment firm that manages over $200 billion in assets.

The Cheesecake Factory Incorporated

A popular American restaurant chain known for its extensive menu and signature cheesecakes, with over 200 locations nationwide.

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The takeaway

Fisher Asset Management's increased stake in Cheesecake Factory suggests the firm sees long-term value in the restaurant chain, even as the industry navigates ongoing challenges. This vote of confidence from a major institutional investor could signal that Cheesecake Factory is well-positioned to weather the current economic climate and emerge stronger in the years ahead.