Insights from Ken Fisher (Trades, Portfolio)'s Latest 13F Filing for Q4 2023
Ken Fisher (Trades, Portfolio), the esteemed CEO and CIO of Fisher Investments, has once again made his mark on the investment world with his latest 13F filing for the fourth quarter of 2023. As a seasoned columnist for Forbes and a successful author, Fisher has built a reputation for his contrarian market calls and his unique interpretation of market information. Trained by his father, the legendary investor Philip A. Fisher, Ken Fisher (Trades, Portfolio)'s investment approach is rooted in the belief that supply and demand are the primary drivers of security pricing, and that the key to success lies in uncovering or reinterpreting information that the market has not yet fully appreciated. Fisher Investments leverages a robust team of research analysts to navigate these complex markets.
Summary of New Buys
Ken Fisher (Trades, Portfolio)'s portfolio saw the addition of 118 new stocks in the last quarter. Noteworthy new positions include:
- Mitsubishi UFJ Financial Group Inc (MUFG, Financial), with 6,732,629 shares, making up 0.03% of the portfolio at a value of $57.97 million.
- Cytokinetics Inc (CYTK, Financial), comprising 535,954 shares, or approximately 0.02% of the portfolio, valued at $44.75 million.
- ACADIA Pharmaceuticals Inc (ACAD, Financial), with 143,054 shares, valued at $4.48 million.
Key Position Increases
Ken Fisher (Trades, Portfolio) also ramped up his stakes in 393 stocks. The most significant increases include:
- Exxon Mobil Corp (XOM, Financial), with an additional 11,216,602 shares, bringing the total to 13,197,713 shares. This represents a substantial 566.18% increase in share count and a 0.55% impact on the current portfolio, valued at $1.32 billion.
- Vanguard Intermediate-Term Corporate Bond ETF (VCIT, Financial), with an additional 4,560,437 shares, bringing the total to 73,219,949 shares. This adjustment reflects a 6.64% increase in share count, valued at $5.95 billion.
Summary of Sold Out Positions
In a strategic move, Ken Fisher (Trades, Portfolio) exited 125 holdings in the fourth quarter of 2023, including:
- Itau Unibanco Holding SA (ITUB, Financial), selling all 36,413,954 shares, impacting the portfolio by -0.11%.
- Bank Bradesco SA (BBD, Financial), liquidating all 39,079,863 shares, with a -0.06% impact on the portfolio.
Key Position Reductions
Reductions were made in 539 stocks, with the most notable being:
- NextEra Energy Inc (NEE, Financial), reduced by 9,693,429 shares, a -99.14% decrease, impacting the portfolio by -0.32%. The stock traded at an average price of $56.99 during the quarter and has seen a -3.59% return over the past 3 months and -7.05% year-to-date.
- PepsiCo Inc (PEP, Financial), reduced by 1,350,360 shares, a -16.99% reduction, impacting the portfolio by -0.13%. The stock traded at an average price of $165.85 during the quarter and has returned 3.49% over the past 3 months and 0.81% year-to-date.
Portfolio Overview
As of the fourth quarter of 2023, Ken Fisher (Trades, Portfolio)'s portfolio included 1,157 stocks. The top holdings were 5.2% in Apple Inc (AAPL, Financial), 4.71% in Microsoft Corp (MSFT, Financial), 3.16% in Amazon.com Inc (AMZN, Financial), 3.11% in Alphabet Inc (GOOGL, Financial), and 2.93% in Vanguard Intermediate-Term Corporate Bond ETF (VCIT, Financial). The investments span across 10 of the 11 industries, with a focus on Technology, Financial Services, Consumer Cyclical, Industrials, Healthcare, Communication Services, Consumer Defensive, Energy, Basic Materials, and Real Estate.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
