Insights from the Latest 13F Filing Reveal Fisher's Investment Adjustments in Q3 2023
Ken Fisher (Trades, Portfolio), the esteemed CEO and CIO of Fisher Investments, has a reputation for his contrarian investment approach and accurate market predictions. A seasoned Forbes columnist and author of influential finance books, Fisher carries on the legacy of his father, Philip A. Fisher. His investment philosophy centers on the belief that supply and demand are the primary price determinants of securities and that the key to outperformance lies in uncovering or interpreting information that the market has not yet priced in. Fisher's latest 13F filing for the third quarter of 2023 offers a window into the strategic decisions guiding his portfolio's direction.
New Additions to Fisher's Portfolio
Ken Fisher (Trades, Portfolio)'s recent 13F filing reveals the addition of 129 stocks to his portfolio. Noteworthy new entries include:
- Murphy Oil Corp (MUR, Financial), with 991,976 shares valued at $44.99 million, making up 0.03% of the portfolio.
- UniCredit SpA (UNCRY, Financial), comprising 3,775,530 shares, which represent 0.03% of the portfolio, with a total value of $45.43 million.
- Matador Resources Co (MTDR, Financial), with 579,640 shares valued at $34.48 million, accounting for 0.02% of the portfolio.
Significant Increases in Existing Holdings
Ken Fisher (Trades, Portfolio) has also ramped up his investments in several key stocks, with the most significant increases being:
- Procter & Gamble Co (PG, Financial), where Fisher added an impressive 5,134,681 shares, bringing the total to 9,997,630 shares. This move represents a 105.59% increase in share count and a 0.43% impact on the current portfolio, with a total value of $1.46 billion.
- UnitedHealth Group Inc (UNH, Financial), with an additional 1,216,037 shares, increasing the total to 2,777,211 shares. This adjustment signifies a 77.89% increase in share count, with a total value of $1.40 billion.
Exiting Positions
In the third quarter of 2023, Ken Fisher (Trades, Portfolio) exited 127 holdings, including:
- PDC Energy Inc (PDCE, Financial), where all 1,106,715 shares were sold, impacting the portfolio by -0.04%.
- Gap Inc (GPS, Financial), with the complete liquidation of 6,053,936 shares, causing a -0.03% impact on the portfolio.
Notable Reductions in Portfolio
Fisher's strategy also involved reducing positions in 471 stocks. The most substantial reductions include:
- Exxon Mobil Corp (XOM, Financial), with a decrease of 4,650,903 shares, resulting in a -70.13% reduction and a -0.27% impact on the portfolio. The stock traded at an average price of $109.68 during the quarter and has seen a -5.51% return over the past three months and -2.63% year-to-date.
- Hess Corp (HES, Financial), with a decrease of 3,088,926 shares, marking a -97.81% reduction and a -0.23% impact on the portfolio. The stock's average trading price was $150.58 for the quarter, with a -9.42% return over the past three months and a 1.37% year-to-date return.
Overview of Fisher's Q3 2023 Portfolio
As of the third quarter of 2023, Ken Fisher (Trades, Portfolio)'s portfolio encompasses 1,164 stocks. The top holdings include 5.21% in Apple Inc (AAPL, Financial), 4.47% in Microsoft Corp (MSFT, Financial), 3.25% in Alphabet Inc (GOOGL, Financial), 2.98% in Amazon.com Inc (AMZN, Financial), and 2.96% in Vanguard Intermediate-Term Corporate Bond ETF (VCIT, Financial). The investments are predominantly concentrated across 11 industries, with a focus on Technology, Financial Services, Consumer Cyclical, and Healthcare, among others.
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.
