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 |
Cisco
CSCO
|
+$331M |
| 2 |
RDS.A
Royal Dutch Shell PLC ADS Class A
RDS.A
|
+$324M |
| 3 |
Salesforce
CRM
|
+$301M |
| 4 |
Adobe
ADBE
|
+$294M |
| 5 |
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
|
+$216M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vodafone
VOD
|
+$422M |
| 2 |
Lloyds Banking Group
LYG
|
+$252M |
| 3 |
Barclays
BCS
|
+$135M |
| 4 |
FIYY
Barclays ETN+ FI Enhanced Global High Yield ETN Series B
FIYY
|
+$72M |
| 5 |
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
|
+$62.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 17.08% |
| 2 | Financials | 13.53% |
| 3 | Healthcare | 12.53% |
| 4 | Consumer Discretionary | 8% |
| 5 | Consumer Staples | 5.92% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Itaú Unibanco
ITUB
$93B
| $405M | 0.55% |
60,939,967
+6,149,758
| +11% | +$39.5M |
|
52
ExxonMobil
XOM
$651B
| $404M | 0.55% |
5,931,415
+76,282
| +1% | +$5.98M |
|
53
Infosys
INFY
$48.4B
| $399M | 0.54% |
41,879,875
+647,262
| +2% | +$6.18M |
|
54
Sumitomo Mitsui Financial
SMFG
$164B
| $390M | 0.53% |
59,890,594
+454,219
| +0.8% | +$3.39M |
|
|
FIEE
55
DELISTED
FI Enhanced Europe 50 ETN
FIEE
| $388M | 0.53% |
3,119,231
-63,358
| -2% | -$8.78M |
|
56
ASML
ASML
$634B
| $372M | 0.51% |
2,389,137
+76,994
| +3% | +$13.1M |
|
|
57
Adobe
ADBE
$98.5B
| $368M | 0.5% |
1,627,565
+1,218,872
| +298% | +$294M |
|
|
FRLG
58
DELISTED
Large Cap Growth Index-Linked Exchange Traded Notes due 2028
FRLG
| $361M | 0.49% |
4,383,645
+1,640,547
| +60% | +$171M |
|
59
Banco Bradesco
BBD
$37.9B
| $344M | 0.47% |
55,585,762
+915,754
| +2% | +$5.32M |
|
60
Freeport-McMoran
FCX
$91.2B
| $334M | 0.46% |
32,378,452
+121,884
| +0.4% | +$1.42M |
|
61
BHP
BHP
$218B
| $313M | 0.43% |
7,261,581
+3,831
| +0.1% | +$161K |
|
62
BP
BP
$114B
| $295M | 0.4% |
8,022,989
+321,766
| +4% | +$12.8M |
|
63
Trip.com Group
TCOM
$29.3B
| $277M | 0.38% |
10,229,173
+574,975
| +6% | +$17.5M |
|
64
Credicorp
BAP
$32B
| $276M | 0.38% |
1,244,353
+6,621
| +0.5% | +$1.46M |
|
65
Baidu
BIDU
$36.5B
| $268M | 0.37% |
1,692,206
+19,098
| +1% | +$3.56M |
|
66
Domino's
DPZ
$11.7B
| $264M | 0.36% |
1,065,361
+67,345
| +7% | +$17.7M |
|
67
SLB Ltd
SLB
$72.6B
| $244M | 0.33% |
6,765,120
+188,432
| +3% | +$9.3M |
|
|
FEUL
68
DELISTED
Credit Suisse FI Enhanced Europe 50 Exchange Traded Notes due May 11, 2028 Linked to the STOXX Europ
FEUL
| $241M | 0.33% |
3,405,208
-73,780
| -2% | -$5.83M |
|
|
BF
69
DELISTED
BASF AKTIENGESELLT ADS(RP1 ORD
BF
| $240M | 0.33% |
13,901,043
+218,698
| +2% | +$3.78M |
|
70
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
| $238M | 0.33% |
2,935,583
-45,099
| -2% | -$3.78M |
|
71
Banco Bilbao Vizcaya Argentaria
BBVA
$152B
| $233M | 0.32% |
44,058,051
-74,196
| -0.2% | -$419K |
|
72
JD.com
JD
$43.6B
| $231M | 0.32% |
11,052,559
+640,511
| +6% | +$14.3M |
|
|
UN
73
DELISTED
Unilever NV New York Registry Shares
UN
| $225M | 0.31% |
4,178,723
-40,554
| -1% | -$2.21M |
|
74
Alphabet (Google) Class C
GOOG
$4.08T
| $225M | 0.31% |
4,340,120
-106,080
| -2% | -$5.68M |
|
75
State Street SPDR Nuveen ICE Municipal Bond ETF
TFI
$3.06B
| $223M | 0.3% |
4,637,366
-108,786
| -2% | -$5.15M |
|
Similar funds
Ken Fisher's Q4 2018 Portfolio in Review
As of Q4 2018, Ken Fisher held 954 positions worth $73.2B, down 11% from $82.4B the previous quarter. Its ten largest holdings account for 26% of the portfolio.
Ken Fisher deployed $3.18B of net new capital in Q4 2018, opening 84 new positions and adding to 428 existing holdings. Its largest new stake was Weibo: 2,764,345 shares worth $162M.
By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 16% a quarter earlier, followed by Financials and Healthcare.
On the sell side, the largest reduction was Vodafone, an estimated $422M trimmed.
- Ken Fisher's largest Q4 2018 buy was Weibo: 2,764,345 shares worth $162M.
- Ken Fisher added most to Cisco in Q4 2018, an estimated $331M increase.
- Ken Fisher's biggest Q4 2018 reduction was Vodafone, cutting an estimated $422M.
- Ken Fisher fully exited Luxottica Group in Q4 2018, selling an estimated $51M.
- Ken Fisher's ten largest holdings make up 26% of its $73.2B portfolio in Q4 2018.
- Ken Fisher opened 84 new positions and closed 88 in Q4 2018.
- Ken Fisher's portfolio value fell 11% quarter-over-quarter to $73.2B.
Based on Fisher Asset Management's 13F filing for Q4 2018, filed 25 Jan 2019.