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 | |
|---|---|---|---|---|---|---|
1
Visa
V
$673B
| $2.46B | 3.36% |
18,622,097
+534,608
| +3% | +$73.8M |
|
2
Amazon
AMZN
$2.53T
| $2.43B | 3.33% |
32,416,540
+1,034,480
| +3% | +$86M |
|
|
3
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.3B
| $2.4B | 3.28% |
21,267,240
-557,088
| -3% | -$62.6M |
|
4
Apple
AAPL
$4.9T
| $2.01B | 2.75% |
51,065,948
+1,669,684
| +3% | +$80.9M |
|
5
Microsoft
MSFT
$3.35T
| $1.97B | 2.7% |
19,441,789
+672,487
| +4% | +$72M |
|
6
Pfizer
PFE
$142B
| $1.83B | 2.49% |
44,089,567
+1,426,039
| +3% | +$59.2M |
|
7
Alibaba
BABA
$279B
| $1.57B | 2.15% |
11,483,886
+473,097
| +4% | +$69.9M |
|
8
Johnson & Johnson
JNJ
$617B
| $1.46B | 2% |
11,337,653
+78,572
| +0.7% | +$11M |
|
|
FLGE
9
DELISTED
Credit Suisse FI Large Cap Growth Enhanced Exchange Traded Notes
FLGE
| $1.42B | 1.94% |
7,483,471
-203,331
| -3% | -$48.7M |
|
10
Alphabet (Google) Class A
GOOGL
$4.08T
| $1.38B | 1.89% |
26,444,980
+1,023,200
| +4% | +$55.3M |
|
|
FIHD
11
DELISTED
UBS AG FI Enhanced Global High Yield ETN
FIHD
| $1.35B | 1.85% |
9,546,652
+941,941
| +11% | +$148M |
|
12
TSMC
TSM
$2.09T
| $1.34B | 1.83% |
36,229,503
+1,087,513
| +3% | +$41.4M |
|
|
FIYY
13
DELISTED
Barclays ETN+ FI Enhanced Global High Yield ETN Series B
FIYY
| $1.26B | 1.72% |
14,850,946
-767,690
| -5% | -$72M |
|
|
14
Cisco
CSCO
$448B
| $1.18B | 1.62% |
27,338,574
+7,238,755
| +36% | +$331M |
|
15
Intel
INTC
$460B
| $1.17B | 1.6% |
24,959,006
+803,207
| +3% | +$37.6M |
|
|
16
Vanguard Intermediate-Term Corporate Bond ETF
VCIT
$66.3B
| $1.06B | 1.45% |
12,844,014
+2,623,812
| +26% | +$216M |
|
|
FBGX
17
DELISTED
UBS AG FI Enhanced Large Cap Growth ETN
FBGX
| $1.05B | 1.44% |
5,552,831
-60,738
| -1% | -$14.6M |
|
18
American Express
AXP
$228B
| $1.02B | 1.39% |
10,681,552
+323,809
| +3% | +$33.9M |
|
19
Walmart Inc
WMT
$884B
| $956M | 1.31% |
30,787,437
+992,187
| +3% | +$31.8M |
|
20
Procter & Gamble
PG
$335B
| $950M | 1.3% |
10,334,800
+299,281
| +3% | +$26.8M |
|
21
TotalEnergies
TTE
$193B
| $881M | 1.2% |
16,890,913
+605,158
| +4% | +$34.7M |
|
22
Home Depot
HD
$332B
| $787M | 1.08% |
4,582,792
+136,686
| +3% | +$24.5M |
|
23
PepsiCo
PEP
$191B
| $757M | 1.03% |
6,851,582
+193,336
| +3% | +$21.8M |
|
|
RDS.A
24
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $740M | 1.01% |
12,698,152
+5,220,185
| +70% | +$324M |
|
25
Sanofi
SNY
$103B
| $696M | 0.95% |
16,041,052
+414,369
| +3% | +$18.3M |
|
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.