Ken Fisher (Trades, Portfolio) is founder and CEO of Fisher Investments, an independent money management firm that, with nearly $68 billion in assets under management, has been called the largest wealth manager in the U.S.
In the fourth quarter, Fisher didn’t limit his investment activity to the U.S., with transactions involving companies in Russia, Shanghai and Mexico, and he had more than 100 new buys.
Fisher’s most noteworthy fourth-quarter transaction was the sale of his 3,897,668-share stake in Magnit PJSC (LSE:MGNT, Financial), a Russian retailer, for an average price of $40.35 per share. The deal had a -0.4% impact on Fisher’s portfolio.
Fisher initiated the position in the fourth quarter of 2014 and added to it in each of the first three quarters of 2015 before selling the stake.
Magnit has a P/E of 12.4, a P/B of 5.5 and a P/S of 0.9. GuruFocus gives Magnit a Financial Strength rating of 7/10 and a Profitability and Growth rating of 8/10.
Magnit sold for $30.38 per share Thursday.
Fisher divested himself of his 11,275,609-share stake in PMC-Sierra Inc. (PMCS, Financial), a Sunnyvale, California-based semiconductor company, for an average price of $11.4 per share. The transaction had a -0.16% impact on Fisher’s portfolio.
PMC-Sierra had a position in Fisher’s portfolio since the second quarter of 2012.
PMC-Sierra has a P/E of 552.9, a forward P/E of 16.3, a P/B of 3.9 and a P/S of 4.5. GuruFocus gives PMC-Sierra a Financial Strength rating of 9/10 and a Profitability and Growth rating of 6/10.
George Soros (Trades, Portfolio) is PMC-Sierra’s leading shareholder among the gurus with 11,161,666 shares in his portfolio.
PMC-Sierra sold for $11.65 per share Friday.
Fisher sold his 2,009,275-share stake in BioMed Realty Trust Inc. (BMR, Financial), a San Diego-based provider of real estate solutions to the life science community, for an average price of $23.3 per share. The deal had a -0.09% impact on Fisher’s portfolio.
BioMed has a P/E of 25.4, a forward P/E of 131.6, a P/B of 1.6 and a P/S of 7.5. GuruFocus gives BioMed a Financial Strength rating of 7/10 and a Profitability and Growth rating of 5/10.
Jim Simons (Trades, Portfolio) is BioMed’s leading shareholder among the gurus with 558,700 shares in his portfolio.
BioMed sold for $23.65 per share Friday.
Fisher raised his stake in CalAtlantic Group Inc. (CAA, Financial), an Irvine, California-based builder of single-family homes, by nearly 20,803% with the purchase of 2,249,426 shares for an average price of $39.96 per share. The transaction had a 0.17% impact on Fisher’s portfolio.
The purchase gave Fisher a stake of 2,260,239 shares, which is 1.87% of CalAtlantic’s outstanding shares and 0.17% of Fisher’s total assets.
CalAtlantic has a P/E of 12.2, a forward P/E of 6.7, a P/B of 0.9 and a P/S of 0.7. GuruFocus gives CalAtlantic a Financial Strength rating of 7/10 and a Profitability and Growth rating of 4/10.
Fisher is CalAtlantic’s leading shareholder among the gurus.
CalAtlantic sold for $31.1 per share Friday.
Fisher also added to his stake in iShares IBoxx $ Invest Grade Corp. Bd. Fd. (LQD, Financial), but the increase wasn’t nearly as dramatic. Fisher increased his stake by more than 4% with the purchase of 537,567 shares for an average price of $115.59 per share. The deal had a 0.12% impact on Fisher’s portfolio.
Fisher’s stake of 12,572,937 shares is 2.86% of his total assets. He is iShares’ leading shareholder among the gurus.
A share of iShares sold for $114.14 Friday.
Fisher increased his stake in Stratasys Ltd. (SSYS, Financial), an Eden Prairie, Minnesota-based digital printing company, by more than 3,454%. Fisher bought 2,045,932 shares for an average price of $26.33 per share. The transaction had a 0.1% impact on Fisher’s portfolio.
The purchase raised Fisher’s stake to 2,105,158 shares, which is 4.05% of Stratasys’ outstanding shares and 0.1% of Fisher’s total assets.
Stratasys has a forward P/E of 33.6, a P/B of 0.6 and a P/S of 1.3. GuruFocus gives Stratasys a Financial Strength rating of 6/10 and a Profitability and Growth rating of 6/10.
PRIMECAP Management (Trades, Portfolio), with the 2,680,000-share stake it purchased in the third quarter, is Stratasys’ leading shareholder among the gurus.
Stratasys sold for $18.67 per share Friday.
Fisher boosted his stake in NetScout Systems Inc. (NTCT, Financial), a Westford, Massachusetts-based Internet security solutions company, by a comparatively modest 225%. Fisher acquired 1,198,158 shares for an average price of $34.37 per share. The deal had a 0.08% impact on Fisher’s portfolio.
Fisher’s stake in NetScout is 1.74% of the company’s outstanding shares and 0.11% of Fisher’s total assets.
NetScout has a P/E of 24.7, a forward P/E of 11.4, a P/B of 1.0 and a P/S of 2.3. GuruFocus gives NetScout a Financial Strength rating of 4/10 and a Profitability and Growth rating of 8/10.
Fisher is NetScout’s leading shareholder among the gurus with 1,728,742 shares in his portfolio.
NetScout sold for $26.22 per share Friday.
Fisher increased his stake in Ctrip.com International Ltd. (CTRP, Financial), a Shanghai-based travel agency, by nearly 9%. Fisher bought 722,513 shares for an average price of $45.96 per share. The transaction had a 0.07% impact on Fisher’s portfolio.
Fisher’s stake in Ctrip, now 8,839,325 shares, is 2.82% of Ctrip’s outstanding shares and 0.82% of Fisher’s total assets.
Ctrip has a P/E of 42.7, a forward P/E of 27.9, a P/B of 6.0 and a P/S of 8.6. GuruFocus gives Ctrip a Financial Strength rating of 3/10 and a Profitability and Growth rating of 6/10.
Andreas Halvorsen (Trades, Portfolio) is Ctrip’s leading shareholder among the gurus with 9,828,362 shares in his portfolio.
Ctrip sold for $41.47 per share Friday.
Fisher acquired a 4,369,195-share stake in America Movil SAB de CV (AMX, Financial), a Mexican telecommunications company, for an average price of $16.31 per share. The purchase had a 0.12% impact on Fisher’s portfolio.
The stake is 0.13% of the company’s outstanding shares and 0.12% of Fisher’s total assets.
America Movil has a P/E of 81.9, a forward P/E of 7.1, a P/B of 8.6 and a P/S of 0.9. GuruFocus gives America Movil a Financial Strength rating of 7/10 and a Profitability and Growth rating of 8/10.
Manning & Napier Advisors Inc. is America Movil’s leading shareholder among the gurus with 14,081,031 shares in its portfolio.
America Movil sold for $12.43 per share Friday.
Fisher purchased a 1,141,384-share stake in Artisan Partners Asset Management Inc. (APAM, Financial), a Milwaukee-based investment manager serving pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds as well as mutual funds, non-U.S. funds and collective trusts. Fisher paid an average price of $36.95 per share in a deal that had a 0.08% impact on his portfolio.
Fisher’s stake is 1.55% of Artisan’s outstanding shares and 0.08% of his total assets.
Artisan has a P/E of 15.0, a P/B of 16.9 and a P/S of 1.2. GuruFocus gives Artisan a Financial Strength rating of 7/10 and a Profitability and Growth rating of 6/10.
Chuck Royce (Trades, Portfolio) is Artisan’s leading shareholder among the gurus with 2,352,726 shares in his portfolio.
Artisan sold for $29.56 per share Friday.
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