Ken Fisher just reported his third quarter portfolio. He buys UBS AG, Daimler AG, Citigroup Inc, United Technologies, Bank of America, Berkshire Hathaway etc during the third quarter, according to the most recent filings of his investment company, Fisher Asset Management, LLC.
In his latest column on Forbes, Ken Fisher said “I’m bullish on banks, relative to the market.” Why? He wrote:
“Ending so-called QE steepens that spread by definition, since it stops the Federal Reserve’s buying of long-term debt (thus lowering future long-term debt prices and pushing rates higher). As the spread rises, so will bank profitability on new loans, and banks’ eagerness to lend–along with overall loan revenue—will rise in lockstep.”
As of 09/30/2013, Fisher Asset Management, LLC owns 499 stocks with a total value of $40.6 billion. These are the details of the buys and sells that have the impact to portfolio of more than 0.1%.
This is the sector weightings of his portfolio:
New Purchase: UBS AG (UBS, Financial)
Ken Fisher initiated holdings in UBS AG. His purchase prices were between $16.92 and $21.45, with an estimated average price of $19.69. The impact to his portfolio due to this purchase was 1.3%. His holdings were 26,161,449 shares as of 09/30/2013.
New Purchase: Daimler AG (DDAIY)
Ken Fisher initiated holdings in Daimler AG. His purchase prices were between $60.48 and $79.19, with an estimated average price of $71.53. The impact to his portfolio due to this purchase was 1%. His holdings were 5,314,140 shares as of 09/30/2013.
New Purchase: Deutsche Post AG (DPSGY)
Ken Fisher initiated holdings in Deutsche Post AG. His purchase prices were between $24.76 and $33.45, with an estimated average price of $29.02. The impact to his portfolio due to this purchase was 0.14%. His holdings were 1,770,024 shares as of 09/30/2013.
New Purchase: BancorpSouth Inc. (BXS)
Ken Fisher initiated holdings in BancorpSouth Inc.. His purchase prices were between $18.25 and $20.65, with an estimated average price of $19.65. The impact to his portfolio due to this purchase was 0.13%. His holdings were 2,667,685 shares as of 09/30/2013.
New Purchase: Meritage Homes Corporation (MTH)
Ken Fisher initiated holdings in Meritage Homes Corporation. His purchase prices were between $38.92 and $47.01, with an estimated average price of $42.94. The impact to his portfolio due to this purchase was 0.12%. His holdings were 1,091,720 shares as of 09/30/2013.
New Purchase: American Equity Investment Life Holding Company (AEL)
Ken Fisher initiated holdings in American Equity Investment Life Holding Company. His purchase prices were between $15.72 and $21.23, with an estimated average price of $19.11. The impact to his portfolio due to this purchase was 0.12%. His holdings were 2,313,750 shares as of 09/30/2013.
New Purchase: RLJ Lodging Trust (RLJ)
Ken Fisher initiated holdings in RLJ Lodging Trust. His purchase prices were between $22.63 and $24.64, with an estimated average price of $23.67. The impact to his portfolio due to this purchase was 0.11%. His holdings were 1,948,325 shares as of 09/30/2013.
New Purchase: Wintrust Financial Corp (WTFC)
Ken Fisher initiated holdings in Wintrust Financial Corp. His purchase prices were between $39.25 and $41.94, with an estimated average price of $40.66. The impact to his portfolio due to this purchase was 0.11%. His holdings were 1,041,130 shares as of 09/30/2013.
Sold Out: Saks Incorporated (SKS)
Ken Fisher sold out his holdings in Saks Incorporated. His sale prices were between $13.92 and $16.16, with an estimated average price of $15.59.
Sold Out: Colonial Properties Trust (CLP)
Ken Fisher sold out his holdings in Colonial Properties Trust. His sale prices were between $21.67 and $25.07, with an estimated average price of $23.19.
Added: Citigroup Inc (C, Financial)
Ken Fisher added to his holdings in Citigroup Inc by 95.03%. His purchase prices were between $47.67 and $53, with an estimated average price of $50.63. The impact to his portfolio due to this purchase was 0.63%. His holdings were 10,996,671 shares as of 09/30/2013.
Added: United Technologies Corp (UTX, Financial)
Ken Fisher added to his holdings in United Technologies Corp by 40.52%. His purchase prices were between $93.8 and $112, with an estimated average price of $104.06. The impact to his portfolio due to this purchase was 0.61%. His holdings were 7,782,011 shares as of 09/30/2013.
Added: Bank of America Corporation (BAC, Financial)
Ken Fisher added to his holdings in Bank of America Corporation by 81.57%. His purchase prices were between $12.83 and $14.95, with an estimated average price of $14.3. The impact to his portfolio due to this purchase was 0.58%. His holdings were 39,574,720 shares as of 09/30/2013.
Added: Berkshire Hathaway Inc (BRK.B, Financial)
Ken Fisher added to his holdings in Berkshire Hathaway Inc by 55.17%. His purchase prices were between $111.22 and $118.94, with an estimated average price of $115.43. The impact to his portfolio due to this purchase was 0.5%. His holdings were 5,136,928 shares as of 09/30/2013.
Added: ARM Holdings PLC (ARMH)
Ken Fisher added to his holdings in ARM Holdings PLC by 555.88%. His purchase prices were between $36.41 and $49.05, with an estimated average price of $42.23. The impact to his portfolio due to this purchase was 0.14%. His holdings were 1,392,065 shares as of 09/30/2013.
Added: Goldman Sachs Group Inc (GS, Financial)
Ken Fisher added to his holdings in Goldman Sachs Group Inc by 10497.6%. His purchase prices were between $150.43 and $169.75, with an estimated average price of $161.19. The impact to his portfolio due to this purchase was 0.1%. His holdings were 247,243 shares as of 09/30/2013.
Reduced: Nestle SA (NSRGY)
Ken Fisher reduced to his holdings in Nestle SA by 95.77%. His sale prices were between $64.73 and $70.46, with an estimated average price of $67.35. The impact to his portfolio due to this sale was -1.44%. Ken Fisher still held 373,373 shares as of 09/30/2013.
Reduced: Philip Morris International, Inc. (PM)
Ken Fisher reduced to his holdings in Philip Morris International, Inc. by 98.53%. His sale prices were between $82.95 and $90.54, with an estimated average price of $87.45. The impact to his portfolio due to this sale was -1.28%. Ken Fisher still held 86,495 shares as of 09/30/2013.
Reduced: British American Tobacco PLC (BTI)
Ken Fisher reduced to his holdings in British American Tobacco PLC by 82.18%. His sale prices were between $101.19 and $108.69, with an estimated average price of $105.82. The impact to his portfolio due to this sale was -0.76%. Ken Fisher still held 610,281 shares as of 09/30/2013.
Reduced: Companhia de Bebidas das Americas Ambev (ABV)
Ken Fisher reduced to his holdings in Companhia de Bebidas das Americas Ambev by 77.68%. His sale prices were between $33.94 and $39.23, with an estimated average price of $36.62. The impact to his portfolio due to this sale was -0.71%. Ken Fisher still held 2,092,495 shares as of 09/30/2013.
Reduced: Vodafone Group PLC (VOD)
Ken Fisher reduced to his holdings in Vodafone Group PLC by 95.56%. His sale prices were between $28.66 and $35.05, with an estimated average price of $30.98. The impact to his portfolio due to this sale was -0.66%. Ken Fisher still held 408,413 shares as of 09/30/2013.
Reduced: AT&T Inc (T)
Ken Fisher reduced to his holdings in AT&T Inc by 97.92%. His sale prices were between $33.32 and $35.96, with an estimated average price of $34.77. The impact to his portfolio due to this sale was -0.58%. Ken Fisher still held 133,015 shares as of 09/30/2013.
Reduced: BHP Billiton Ltd (BHP)
Ken Fisher reduced to his holdings in BHP Billiton Ltd by 52.4%. His sale prices were between $56.32 and $70.02, with an estimated average price of $64.38. The impact to his portfolio due to this sale was -0.52%. Ken Fisher still held 3,195,365 shares as of 09/30/2013.
Reduced: China Mobile Ltd. (CHL)
Ken Fisher reduced to his holdings in China Mobile Ltd. by 98.33%. His sale prices were between $51.03 and $57.4, with an estimated average price of $54.11. The impact to his portfolio due to this sale was -0.5%. Ken Fisher still held 63,935 shares as of 09/30/2013.
Reduced: Verizon Communications Inc (VZ)
Ken Fisher reduced to his holdings in Verizon Communications Inc by 97.72%. His sale prices were between $45.91 and $51.49, with an estimated average price of $48.82. The impact to his portfolio due to this sale was -0.13%. Ken Fisher still held 22,078 shares as of 09/30/2013.
Here is the complete portfolio of Ken Fisher. Also check out:
1. Ken Fisher's Undervalued Stocks
2. Ken Fisher's Top Growth Companies, and
3. Ken Fisher's High Yield stocks
4. Stocks that Ken Fisher keeps buying
In his latest column on Forbes, Ken Fisher said “I’m bullish on banks, relative to the market.” Why? He wrote:
“Ending so-called QE steepens that spread by definition, since it stops the Federal Reserve’s buying of long-term debt (thus lowering future long-term debt prices and pushing rates higher). As the spread rises, so will bank profitability on new loans, and banks’ eagerness to lend–along with overall loan revenue—will rise in lockstep.”
As of 09/30/2013, Fisher Asset Management, LLC owns 499 stocks with a total value of $40.6 billion. These are the details of the buys and sells that have the impact to portfolio of more than 0.1%.
- New Purchases: UBS, DDAIY, DPSGY, BXS, MTH, AEL, RLJ, WTFC,
- Added Positions: C, UTX, BAC, BRK.B, ARMH, GS,
- Reduced Positions: NSRGY, PM, BTI, ABV, VOD, T, BHP, CHL, VZ,
- Sold Out: SKS, CLP,
This is the sector weightings of his portfolio:
| Financial Services | 20.2% |
| Technology | 17.6% |
| Consumer Cyclical | 14% |
| Healthcare | 12.2% |
| Consumer Defensive | 6.6% |
| Industrials | 6% |
| Energy | 3.9% |
| Basic Materials | 2.1% |
| Communication Services | 1.4% |
| Real Estate | 1.2% |
| Utilities | 0.2% |
New Purchase: UBS AG (UBS, Financial)
Ken Fisher initiated holdings in UBS AG. His purchase prices were between $16.92 and $21.45, with an estimated average price of $19.69. The impact to his portfolio due to this purchase was 1.3%. His holdings were 26,161,449 shares as of 09/30/2013.
New Purchase: Daimler AG (DDAIY)
Ken Fisher initiated holdings in Daimler AG. His purchase prices were between $60.48 and $79.19, with an estimated average price of $71.53. The impact to his portfolio due to this purchase was 1%. His holdings were 5,314,140 shares as of 09/30/2013.
New Purchase: Deutsche Post AG (DPSGY)
Ken Fisher initiated holdings in Deutsche Post AG. His purchase prices were between $24.76 and $33.45, with an estimated average price of $29.02. The impact to his portfolio due to this purchase was 0.14%. His holdings were 1,770,024 shares as of 09/30/2013.
New Purchase: BancorpSouth Inc. (BXS)
Ken Fisher initiated holdings in BancorpSouth Inc.. His purchase prices were between $18.25 and $20.65, with an estimated average price of $19.65. The impact to his portfolio due to this purchase was 0.13%. His holdings were 2,667,685 shares as of 09/30/2013.
New Purchase: Meritage Homes Corporation (MTH)
Ken Fisher initiated holdings in Meritage Homes Corporation. His purchase prices were between $38.92 and $47.01, with an estimated average price of $42.94. The impact to his portfolio due to this purchase was 0.12%. His holdings were 1,091,720 shares as of 09/30/2013.
New Purchase: American Equity Investment Life Holding Company (AEL)
Ken Fisher initiated holdings in American Equity Investment Life Holding Company. His purchase prices were between $15.72 and $21.23, with an estimated average price of $19.11. The impact to his portfolio due to this purchase was 0.12%. His holdings were 2,313,750 shares as of 09/30/2013.
New Purchase: RLJ Lodging Trust (RLJ)
Ken Fisher initiated holdings in RLJ Lodging Trust. His purchase prices were between $22.63 and $24.64, with an estimated average price of $23.67. The impact to his portfolio due to this purchase was 0.11%. His holdings were 1,948,325 shares as of 09/30/2013.
New Purchase: Wintrust Financial Corp (WTFC)
Ken Fisher initiated holdings in Wintrust Financial Corp. His purchase prices were between $39.25 and $41.94, with an estimated average price of $40.66. The impact to his portfolio due to this purchase was 0.11%. His holdings were 1,041,130 shares as of 09/30/2013.
Sold Out: Saks Incorporated (SKS)
Ken Fisher sold out his holdings in Saks Incorporated. His sale prices were between $13.92 and $16.16, with an estimated average price of $15.59.
Sold Out: Colonial Properties Trust (CLP)
Ken Fisher sold out his holdings in Colonial Properties Trust. His sale prices were between $21.67 and $25.07, with an estimated average price of $23.19.
Added: Citigroup Inc (C, Financial)
Ken Fisher added to his holdings in Citigroup Inc by 95.03%. His purchase prices were between $47.67 and $53, with an estimated average price of $50.63. The impact to his portfolio due to this purchase was 0.63%. His holdings were 10,996,671 shares as of 09/30/2013.
Added: United Technologies Corp (UTX, Financial)
Ken Fisher added to his holdings in United Technologies Corp by 40.52%. His purchase prices were between $93.8 and $112, with an estimated average price of $104.06. The impact to his portfolio due to this purchase was 0.61%. His holdings were 7,782,011 shares as of 09/30/2013.
Added: Bank of America Corporation (BAC, Financial)
Ken Fisher added to his holdings in Bank of America Corporation by 81.57%. His purchase prices were between $12.83 and $14.95, with an estimated average price of $14.3. The impact to his portfolio due to this purchase was 0.58%. His holdings were 39,574,720 shares as of 09/30/2013.
Added: Berkshire Hathaway Inc (BRK.B, Financial)
Ken Fisher added to his holdings in Berkshire Hathaway Inc by 55.17%. His purchase prices were between $111.22 and $118.94, with an estimated average price of $115.43. The impact to his portfolio due to this purchase was 0.5%. His holdings were 5,136,928 shares as of 09/30/2013.
Added: ARM Holdings PLC (ARMH)
Ken Fisher added to his holdings in ARM Holdings PLC by 555.88%. His purchase prices were between $36.41 and $49.05, with an estimated average price of $42.23. The impact to his portfolio due to this purchase was 0.14%. His holdings were 1,392,065 shares as of 09/30/2013.
Added: Goldman Sachs Group Inc (GS, Financial)
Ken Fisher added to his holdings in Goldman Sachs Group Inc by 10497.6%. His purchase prices were between $150.43 and $169.75, with an estimated average price of $161.19. The impact to his portfolio due to this purchase was 0.1%. His holdings were 247,243 shares as of 09/30/2013.
Reduced: Nestle SA (NSRGY)
Ken Fisher reduced to his holdings in Nestle SA by 95.77%. His sale prices were between $64.73 and $70.46, with an estimated average price of $67.35. The impact to his portfolio due to this sale was -1.44%. Ken Fisher still held 373,373 shares as of 09/30/2013.
Reduced: Philip Morris International, Inc. (PM)
Ken Fisher reduced to his holdings in Philip Morris International, Inc. by 98.53%. His sale prices were between $82.95 and $90.54, with an estimated average price of $87.45. The impact to his portfolio due to this sale was -1.28%. Ken Fisher still held 86,495 shares as of 09/30/2013.
Reduced: British American Tobacco PLC (BTI)
Ken Fisher reduced to his holdings in British American Tobacco PLC by 82.18%. His sale prices were between $101.19 and $108.69, with an estimated average price of $105.82. The impact to his portfolio due to this sale was -0.76%. Ken Fisher still held 610,281 shares as of 09/30/2013.
Reduced: Companhia de Bebidas das Americas Ambev (ABV)
Ken Fisher reduced to his holdings in Companhia de Bebidas das Americas Ambev by 77.68%. His sale prices were between $33.94 and $39.23, with an estimated average price of $36.62. The impact to his portfolio due to this sale was -0.71%. Ken Fisher still held 2,092,495 shares as of 09/30/2013.
Reduced: Vodafone Group PLC (VOD)
Ken Fisher reduced to his holdings in Vodafone Group PLC by 95.56%. His sale prices were between $28.66 and $35.05, with an estimated average price of $30.98. The impact to his portfolio due to this sale was -0.66%. Ken Fisher still held 408,413 shares as of 09/30/2013.
Reduced: AT&T Inc (T)
Ken Fisher reduced to his holdings in AT&T Inc by 97.92%. His sale prices were between $33.32 and $35.96, with an estimated average price of $34.77. The impact to his portfolio due to this sale was -0.58%. Ken Fisher still held 133,015 shares as of 09/30/2013.
Reduced: BHP Billiton Ltd (BHP)
Ken Fisher reduced to his holdings in BHP Billiton Ltd by 52.4%. His sale prices were between $56.32 and $70.02, with an estimated average price of $64.38. The impact to his portfolio due to this sale was -0.52%. Ken Fisher still held 3,195,365 shares as of 09/30/2013.
Reduced: China Mobile Ltd. (CHL)
Ken Fisher reduced to his holdings in China Mobile Ltd. by 98.33%. His sale prices were between $51.03 and $57.4, with an estimated average price of $54.11. The impact to his portfolio due to this sale was -0.5%. Ken Fisher still held 63,935 shares as of 09/30/2013.
Reduced: Verizon Communications Inc (VZ)
Ken Fisher reduced to his holdings in Verizon Communications Inc by 97.72%. His sale prices were between $45.91 and $51.49, with an estimated average price of $48.82. The impact to his portfolio due to this sale was -0.13%. Ken Fisher still held 22,078 shares as of 09/30/2013.
Here is the complete portfolio of Ken Fisher. Also check out:
1. Ken Fisher's Undervalued Stocks
2. Ken Fisher's Top Growth Companies, and
3. Ken Fisher's High Yield stocks
4. Stocks that Ken Fisher keeps buying
