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 |
Costco
COST
|
+$384M |
| 2 |
BF
BASF AKTIENGESELLT ADS(RP1 ORD
BF
|
+$293M |
| 3 |
Walmart Inc
WMT
|
+$242M |
| 4 |
UN
Unilever NV New York Registry Shares
UN
|
+$220M |
| 5 |
FIHD
UBS AG FI Enhanced Global High Yield ETN
FIHD
|
+$122M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bank of America
BAC
|
+$436M |
| 2 |
Home Depot
HD
|
+$261M |
| 3 |
Walt Disney
DIS
|
+$236M |
| 4 |
JPMorgan Chase
JPM
|
+$230M |
| 5 |
Comcast
CMCSA
|
+$219M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 17.23% |
| 2 | Technology | 13.84% |
| 3 | Healthcare | 11.95% |
| 4 | Consumer Discretionary | 8.3% |
| 5 | Consumer Staples | 5.74% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
HSBC
HSBC
$367B
| $735M | 0.96% |
15,580,886
+450,647
| +3% | +$20.4M |
|
27
PepsiCo
PEP
$191B
| $729M | 0.95% |
6,081,028
+187,135
| +3% | +$21.4M |
|
|
NVO
28
Novo Nordisk
NVO
$228B
| $682M | 0.89% |
25,410,954
+1,161,506
| +5% | +$29.5M |
|
29
AB InBev
BUD
$166B
| $669M | 0.87% |
5,997,016
+178,209
| +3% | +$21M |
|
|
BAY
30
DELISTED
BAYER AG SPONS ADR
BAY
| $651M | 0.85% |
20,838,342
+218,001
| +1% | +$6.81M |
|
31
Cisco
CSCO
$448B
| $639M | 0.84% |
16,692,536
+305,546
| +2% | +$10.9M |
|
32
Sanofi
SNY
$103B
| $624M | 0.81% |
14,500,758
+418,501
| +3% | +$19.3M |
|
33
Berkshire Hathaway Class B
BRK.B
$1.1T
| $602M | 0.79% |
3,036,031
+87,492
| +3% | +$16.6M |
|
34
Oracle
ORCL
$367B
| $594M | 0.78% |
12,568,415
+289,088
| +2% | +$14.2M |
|
|
FIEE
35
DELISTED
FI Enhanced Europe 50 ETN
FIEE
| $580M | 0.76% |
3,269,063
+9,955
| +0.3% | +$1.72M |
|
36
Novartis
NVS
$301B
| $572M | 0.75% |
7,607,354
+204,944
| +3% | +$15.5M |
|
37
Banco Santander
SAN
$202B
| $559M | 0.73% |
89,151,725
+4,229,699
| +5% | +$26.7M |
|
|
38
JPMorgan Chase
JPM
$933B
| $521M | 0.68% |
4,872,987
-2,269,263
| -32% | -$230M |
|
39
Chevron
CVX
$383B
| $505M | 0.66% |
4,037,855
+112,675
| +3% | +$13.4M |
|
40
iShares MBS ETF
MBB
$39.1B
| $490M | 0.64% |
4,595,566
+263,241
| +6% | +$28.1M |
|
41
RTX Corp
RTX
$289B
| $485M | 0.63% |
6,040,631
+205,478
| +4% | +$15.6M |
|
|
FEEU
42
DELISTED
Barclays ETN+ FI Enhanced Europe 50 ETN
FEEU
| $479M | 0.63% |
3,616,884
-45,045
| -1% | -$5.82M |
|
43
Lloyds Banking Group
LYG
$90.7B
| $461M | 0.6% |
123,006,258
+3,740,098
| +3% | +$13.5M |
|
44
Sumitomo Mitsui Financial
SMFG
$164B
| $460M | 0.6% |
52,946,471
+2,152,355
| +4% | +$17.4M |
|
45
JD.com
JD
$43.6B
| $455M | 0.59% |
10,984,621
+983,445
| +10% | +$38.7M |
|
46
GSK
GSK
$104B
| $453M | 0.59% |
10,223,777
-38,824
| -0.4% | -$1.79M |
|
47
Trip.com Group
TCOM
$29.3B
| $444M | 0.58% |
10,068,453
+264,807
| +3% | +$12.7M |
|
|
48
Costco
COST
$423B
| $433M | 0.57% |
2,326,481
+2,221,445
| +2,115% | +$384M |
|
49
ExxonMobil
XOM
$651B
| $419M | 0.55% |
5,014,074
+60,826
| +1% | +$5.03M |
|
50
Baidu
BIDU
$36.5B
| $415M | 0.54% |
1,770,476
+48,476
| +3% | +$11.9M |
|
Similar funds
Ken Fisher's Q4 2017 Portfolio in Review
As of Q4 2017, Ken Fisher held 984 positions worth $76.6B, up 7.4% from $71.3B the previous quarter. Its ten largest holdings account for 24% of the portfolio.
Ken Fisher's Q4 2017 filing shows 141 new, 329 increased, 331 reduced and 62 closed positions. Its largest new stake was HITACHI LTD ADR (10COM)NEW: 925,930 shares worth $72.2M. The largest sale was Bank of America, an estimated $436M.
By sector, the portfolio is most concentrated in Financials at 17% of assets, down from 18% a quarter earlier, followed by Technology and Healthcare.
- Ken Fisher's largest Q4 2017 buy was HITACHI LTD ADR (10COM)NEW: 925,930 shares worth $72.2M.
- Ken Fisher added most to Costco in Q4 2017, an estimated $384M increase.
- Ken Fisher's biggest Q4 2017 reduction was Bank of America, cutting an estimated $436M.
- Ken Fisher fully exited Harley-Davidson in Q4 2017, selling an estimated $4.17M.
- Ken Fisher's ten largest holdings make up 24% of its $76.6B portfolio in Q4 2017.
- Ken Fisher opened 141 new positions and closed 62 in Q4 2017.
- Ken Fisher's portfolio value rose 7.4% quarter-over-quarter to $76.6B.
Based on Fisher Asset Management's 13F filing for Q4 2017, filed 24 Jan 2018.