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 | |
|---|---|---|---|---|---|---|
1
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.3B
| $2.75B | 3.59% |
22,614,635
+560,743
| +3% | +$67.8M |
|
2
Amazon
AMZN
$2.53T
| $2.1B | 2.74% |
35,871,140
+763,040
| +2% | +$42M |
|
3
Apple
AAPL
$4.9T
| $1.9B | 2.48% |
44,827,896
+1,274,284
| +3% | +$53.2M |
|
4
Visa
V
$673B
| $1.87B | 2.45% |
16,419,486
+448,015
| +3% | +$49.5M |
|
5
Alibaba
BABA
$279B
| $1.84B | 2.4% |
10,671,199
+383,104
| +4% | +$68.6M |
|
6
Johnson & Johnson
JNJ
$617B
| $1.69B | 2.21% |
12,127,379
+329,705
| +3% | +$45.9M |
|
|
FIGY
7
DELISTED
Barclays ETN+ FI Enhanced Global High Yield ETN
FIGY
| $1.66B | 2.16% |
9,684,346
-99,909
| -1% | -$16.6M |
|
|
FLGE
8
DELISTED
Credit Suisse FI Large Cap Growth Enhanced Exchange Traded Notes
FLGE
| $1.66B | 2.16% |
7,256,016
+496,910
| +7% | +$107M |
|
9
Microsoft
MSFT
$3.35T
| $1.45B | 1.89% |
16,946,738
+504,877
| +3% | +$41.4M |
|
10
TSMC
TSM
$2.09T
| $1.35B | 1.76% |
33,991,685
+81,730
| +0.2% | +$3.31M |
|
|
FBGX
11
DELISTED
UBS AG FI Enhanced Large Cap Growth ETN
FBGX
| $1.34B | 1.74% |
5,878,975
-53,390
| -0.9% | -$11.4M |
|
12
Pfizer
PFE
$142B
| $1.32B | 1.72% |
38,336,456
+1,319,134
| +4% | +$45M |
|
13
American Express
AXP
$228B
| $1.18B | 1.54% |
11,872,530
+325,140
| +3% | +$31M |
|
14
Alphabet (Google) Class A
GOOGL
$4.08T
| $1.16B | 1.52% |
22,117,520
+830,760
| +4% | +$42.9M |
|
|
FIHD
15
DELISTED
UBS AG FI Enhanced Global High Yield ETN
FIHD
| $1.11B | 1.45% |
6,434,433
+737,458
| +13% | +$122M |
|
16
Intel
INTC
$460B
| $1.01B | 1.31% |
21,803,004
+532,817
| +3% | +$23.3M |
|
|
17
Walmart Inc
WMT
$884B
| $860M | 1.12% |
26,120,943
+7,912,548
| +43% | +$242M |
|
18
Procter & Gamble
PG
$335B
| $841M | 1.1% |
9,149,634
+269,402
| +3% | +$24.2M |
|
19
Vodafone
VOD
$37.2B
| $828M | 1.08% |
25,957,027
+1,132,546
| +5% | +$33.9M |
|
20
HDFC Bank
HDB
$124B
| $806M | 1.05% |
31,710,988
+268,256
| +0.9% | +$6.42M |
|
21
UBS Group
UBS
$175B
| $789M | 1.03% |
42,907,502
+1,604,297
| +4% | +$27.9M |
|
|
SI
22
DELISTED
SIEMENS AKTIENGESELLSCHAFT ADS
SI
| $771M | 1.01% |
11,049,708
+272,179
| +3% | +$19M |
|
23
SAP
SAP
$209B
| $770M | 1.01% |
6,850,748
+251,593
| +4% | +$28.5M |
|
|
24
Home Depot
HD
$332B
| $752M | 0.98% |
3,968,443
-1,512,246
| -28% | -$261M |
|
25
ING
ING
$99.8B
| $738M | 0.96% |
39,991,232
+1,813,102
| +5% | +$33.3M |
|
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.