Ken Fisher Fisher Asset Management
Ken Fisher is the founder and executive chairman of Fisher Investments, a global money management firm overseeing billions of dollars in assets. He gained early recognition for pioneering the use of the price-to-sales ratio in stock analysis and wrote the long-running “Portfolio Strategy” column in Forbes. Over the years, Fisher has authored numerous books on investing and wealth management, many of which have become bestsellers.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
FLGE
Credit Suisse FI Large Cap Growth Enhanced Exchange Traded Notes
FLGE
|
+$499M |
| 2 |
FBGX
UBS AG FI Enhanced Large Cap Growth ETN
FBGX
|
+$479M |
| 3 |
Merck
MRK
|
+$328M |
| 4 |
BAY
BAYER AG SPONS ADR
BAY
|
+$287M |
| 5 |
Lloyds Banking Group
LYG
|
+$275M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FBG
UBS AG LONDON BRH FISHER ENHANCED BIG CAP GROWTH ETN
FBG
|
+$958M |
| 2 |
IBM
IBM
|
+$565M |
| 3 |
McDonald's
MCD
|
+$502M |
| 4 |
CSE
CAPITALSOURCE INC
CSE
|
+$95.8M |
| 5 |
PL
PROTECTIVE LIFE CORP
PL
|
+$66.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 19.81% |
| 2 | Healthcare | 13.89% |
| 3 | Technology | 12.13% |
| 4 | Industrials | 7.64% |
| 5 | Consumer Discretionary | 5.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
GSK
GSK
$104B
| $608M | 1.28% |
9,092,722
+121,231
| +1% | +$8.21M |
|
27
Procter & Gamble
PG
$335B
| $597M | 1.25% |
7,593,318
+124,124
| +2% | +$10M |
|
28
Intel
INTC
$460B
| $586M | 1.23% |
18,964,462
+909,367
| +5% | +$24.9M |
|
29
Toyota
TM
$227B
| $564M | 1.19% |
4,715,871
+79,961
| +2% | +$8.9M |
|
30
Citigroup
C
$222B
| $550M | 1.16% |
11,682,847
+610,719
| +6% | +$29M |
|
31
Novartis
NVS
$301B
| $540M | 1.14% |
6,662,479
+90,035
| +1% | +$7.08M |
|
|
FLGE
32
DELISTED
Credit Suisse FI Large Cap Growth Enhanced Exchange Traded Notes
FLGE
| $506M | 1.06% |
+5,003,089
| New | +$499M |
|
33
SLB Ltd
SLB
$72.6B
| $492M | 1.03% |
4,168,472
+228,871
| +6% | +$23.6M |
|
|
FBGX
34
DELISTED
UBS AG FI Enhanced Large Cap Growth ETN
FBGX
| $486M | 1.02% |
+4,803,033
| New | +$479M |
|
|
SI
35
DELISTED
SIEMENS AKTIENGESELLSCHAFT ADS
SI
| $484M | 1.02% |
3,668,162
+70,927
| +2% | +$9.48M |
|
36
Royal Bank of Canada
RY
$292B
| $480M | 1.01% |
6,721,789
+137,163
| +2% | +$9.3M |
|
37
TSMC
TSM
$2.09T
| $464M | 0.98% |
21,688,880
+4,437,235
| +26% | +$91.4M |
|
38
SAP
SAP
$209B
| $463M | 0.97% |
6,010,653
+73,265
| +1% | +$5.69M |
|
39
Chevron
CVX
$383B
| $457M | 0.96% |
3,504,080
+103,574
| +3% | +$12.9M |
|
40
Oracle
ORCL
$367B
| $452M | 0.95% |
11,149,512
+704,743
| +7% | +$29M |
|
41
PepsiCo
PEP
$191B
| $452M | 0.95% |
5,054,609
+135,214
| +3% | +$11.7M |
|
42
ExxonMobil
XOM
$651B
| $449M | 0.94% |
4,463,866
+114,838
| +3% | +$11.6M |
|
43
Coca-Cola
KO
$381B
| $427M | 0.9% |
10,075,796
+350,757
| +4% | +$14.2M |
|
44
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
$10.4B
| $398M | 0.84% |
12,929,916
+811,850
| +7% | +$25M |
|
45
Cisco
CSCO
$448B
| $375M | 0.79% |
15,107,906
+946,825
| +7% | +$22.6M |
|
|
46
Merck
MRK
$321B
| $374M | 0.79% |
6,774,527
+6,014,666
| +792% | +$328M |
|
|
BF
47
DELISTED
BASF AKTIENGESELLT ADS(RP1 ORD
BF
| $359M | 0.76% |
3,085,772
+34,558
| +1% | +$4.02M |
|
|
BAY
48
DELISTED
BAYER AG SPONS ADR
BAY
| $325M | 0.68% |
2,302,369
+2,031,656
| +750% | +$287M |
|
49
HDFC Bank
HDB
$124B
| $270M | 0.57% |
23,060,100
+3,647,920
| +19% | +$40M |
|
50
iShares MBS ETF
MBB
$39.1B
| $263M | 0.55% |
2,426,069
+153,734
| +7% | +$16.5M |
|
Similar funds
Ken Fisher's Q2 2014 Portfolio in Review
As of Q2 2014, Ken Fisher held 668 positions worth $47.6B, up 7.3% from $44.3B the previous quarter. Its ten largest holdings account for 23% of the portfolio.
Ken Fisher deployed $2.03B of net new capital in Q2 2014, opening 82 new positions and adding to 273 existing holdings. Its largest new stake was Credit Suisse FI Large Cap Growth Enhanced Exchange Traded Notes: 5,003,089 shares worth $506M.
By sector, the portfolio is most concentrated in Financials at 20% of assets, down from 20% a quarter earlier, followed by Healthcare and Technology.
On the sell side, the largest reduction was UBS AG LONDON BRH FISHER ENHANCED BIG CAP GROWTH ETN, an estimated $958M trimmed.
- Ken Fisher's largest Q2 2014 buy was Credit Suisse FI Large Cap Growth Enhanced Exchange Traded Notes: 5,003,089 shares worth $506M.
- Ken Fisher added most to Merck in Q2 2014, an estimated $328M increase.
- Ken Fisher's biggest Q2 2014 reduction was UBS AG LONDON BRH FISHER ENHANCED BIG CAP GROWTH ETN, cutting an estimated $958M.
- Ken Fisher fully exited CAPITALSOURCE INC in Q2 2014, selling an estimated $95.8M.
- Ken Fisher's ten largest holdings make up 23% of its $47.6B portfolio in Q2 2014.
- Ken Fisher opened 82 new positions and closed 70 in Q2 2014.
- Ken Fisher's portfolio value rose 7.3% quarter-over-quarter to $47.6B.
Based on Fisher Asset Management's 13F filing for Q2 2014, filed 25 Jul 2014.