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 |
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
|
+$274M |
| 2 |
FRLG
Large Cap Growth Index-Linked Exchange Traded Notes due 2028
FRLG
|
+$138M |
| 3 |
FIHD
UBS AG FI Enhanced Global High Yield ETN
FIHD
|
+$69.1M |
| 4 |
Lumentum
LITE
|
+$41.9M |
| 5 |
Invesco QQQ Trust
QQQ
|
+$41.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TSMC
TSM
|
+$171M |
| 2 |
Petrobras
PBR
|
+$64.7M |
| 3 |
Vale
VALE
|
+$62.7M |
| 4 |
WMGI
Wright Medical Group Inc
WMGI
|
+$61.9M |
| 5 |
HDFC Bank
HDB
|
+$57.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 20.83% |
| 2 | Financials | 13.08% |
| 3 | Healthcare | 10.74% |
| 4 | Consumer Discretionary | 8.75% |
| 5 | Energy | 5.83% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Costco
COST
$423B
| $893M | 0.9% |
3,038,231
+3,057
| +0.1% | +$909K |
|
27
Sanofi
SNY
$103B
| $881M | 0.89% |
17,547,345
+170,342
| +1% | +$7.98M |
|
|
NVO
28
Novo Nordisk
NVO
$228B
| $873M | 0.88% |
30,176,384
-246,216
| -0.8% | -$6.82M |
|
|
RDS.A
29
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $857M | 0.87% |
14,524,781
-47,674
| -0.3% | -$2.78M |
|
30
Oracle
ORCL
$367B
| $846M | 0.85% |
15,963,953
-129,011
| -0.8% | -$7.1M |
|
|
SI
31
DELISTED
SIEMENS AKTIENGESELLSCHAFT ADS
SI
| $840M | 0.85% |
12,848,820
+144,692
| +1% | +$9.46M |
|
32
JPMorgan Chase
JPM
$933B
| $831M | 0.84% |
5,959,065
-6,118
| -0.1% | -$785K |
|
33
Caterpillar
CAT
$373B
| $819M | 0.83% |
5,547,111
+170,314
| +3% | +$23.8M |
|
34
AstraZeneca
AZN
$266B
| $816M | 0.82% |
8,185,354
+54,373
| +0.7% | +$5.12M |
|
35
Merck
MRK
$321B
| $809M | 0.82% |
9,316,756
-111,586
| -1% | -$9.17M |
|
36
Novartis
NVS
$301B
| $797M | 0.81% |
8,421,770
+106,786
| +1% | +$9.58M |
|
37
ASML
ASML
$634B
| $749M | 0.76% |
2,531,190
-81,391
| -3% | -$22M |
|
38
iShares MBS ETF
MBB
$39.1B
| $736M | 0.74% |
6,813,131
+363,982
| +6% | +$39.3M |
|
39
GSK
GSK
$104B
| $724M | 0.73% |
12,330,369
+116,299
| +1% | +$6.47M |
|
40
RTX Corp
RTX
$289B
| $714M | 0.72% |
7,575,507
+62,968
| +0.8% | +$5.71M |
|
41
Netflix
NFLX
$305B
| $713M | 0.72% |
22,040,740
-122,550
| -0.6% | -$3.63M |
|
42
UBS Group
UBS
$175B
| $660M | 0.67% |
52,446,303
-44,692
| -0.1% | -$532K |
|
43
Rio Tinto
RIO
$158B
| $654M | 0.66% |
11,016,501
+121,936
| +1% | +$6.61M |
|
44
Procter & Gamble
PG
$335B
| $644M | 0.65% |
5,153,034
+113,519
| +2% | +$13.9M |
|
45
HSBC
HSBC
$367B
| $625M | 0.63% |
15,977,993
+101,497
| +0.6% | +$3.85M |
|
46
Chevron
CVX
$383B
| $624M | 0.63% |
5,179,943
+16,889
| +0.3% | +$1.99M |
|
47
State Street SPDR Portfolio Short Term Corporate Bond ETF
SPSB
$10.4B
| $613M | 0.62% |
19,861,180
+157,394
| +0.8% | +$4.85M |
|
48
ING
ING
$99.8B
| $601M | 0.61% |
49,914,175
+719,442
| +1% | +$8.24M |
|
49
Eli Lilly
LLY
$1.03T
| $580M | 0.59% |
4,412,010
+105,613
| +2% | +$12.2M |
|
50
AB InBev
BUD
$166B
| $577M | 0.58% |
7,027,848
-13,662
| -0.2% | -$1.14M |
|
Similar funds
Ken Fisher's Q4 2019 Portfolio in Review
As of Q4 2019, Ken Fisher held 981 positions worth $99B, up 8.6% from $91.1B the previous quarter. Its ten largest holdings account for 28% of the portfolio.
Ken Fisher's Q4 2019 filing shows 78 new, 256 increased, 457 reduced and 83 closed positions. Its largest new stake was Enterprise Products Partners: 584,777 shares worth $16.5M. The largest sale was TSMC, an estimated $171M.
By sector, the portfolio is most concentrated in Technology at 21% of assets, up from 20% a quarter earlier, followed by Financials and Healthcare.
- Ken Fisher's largest Q4 2019 buy was Enterprise Products Partners: 584,777 shares worth $16.5M.
- Ken Fisher added most to Vanguard Intermediate-Term Corporate Bond ETF in Q4 2019, an estimated $274M increase.
- Ken Fisher's biggest Q4 2019 reduction was TSMC, cutting an estimated $171M.
- Ken Fisher fully exited Wright Medical Group Inc in Q4 2019, selling an estimated $61.9M.
- Ken Fisher's ten largest holdings make up 28% of its $99B portfolio in Q4 2019.
- Ken Fisher opened 78 new positions and closed 83 in Q4 2019.
- Ken Fisher's portfolio value rose 8.6% quarter-over-quarter to $99B.
Based on Fisher Asset Management's 13F filing for Q4 2019, filed 12 Feb 2020.