Fisher Investments is a fee-only investment company that serves institutional and private clients globally. Chief Executive Officer and Chief Investment Officer Ken Fisher (Trades, Portfolio) reduced his holdings in the following positions in the fourth quarter.Â
The Bank of America Corp. (BAC, Financial) position was reduced by 97.14%. The trade had an impact of -0.59% on the portfolio.
The bank has a market cap of $330.12 billion and an enterprise value of $431.91 billion.
GuruFocus gives the company a profitability and growth rating of 3 out of 10. The return on equity (ROE) of 6.12% and return on assets (ROA) of 0.80% are underperforming 66% of companies in the Global Banks - Global industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.65 is below the industry median of 2.05.
The company's largest shareholder among the gurus is Warren Buffett (Trades, Portfolio) with 6.6% of outstanding shares, followed by Dodge & Cox with 1.65% and Barrow, Hanley, Mewhinney & Strauss with 0.59%.
Fisher trimmed 27.59% off his The Home Depot Inc. (HD, Financial) stake, impacting the portfolio by -0.37%.
The home improvement retailer has a market cap of $239.82 billion and an enterprise value of $261.86 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 214.72% and ROA of 19.24% are outperforming 96% of companies in the Global Home Improvement Stores industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.14 is below the industry median of 0.99.
Pioneer Investments (Trades, Portfolio) is the company's largest guru shareholder with 0.43% of outstanding shares, followed by Fisher with 0.34% and Jim Simons (Trades, Portfolio) with 0.23%.
The Comcast Corp.Ă‚ (CMCSA, Financial) holding was cut by 42.39%. The trade had an impact of -0.33% on the portfolio.
The cable company has a market cap of $196.95 billion and an enterprise value of $258.91 billion.
GuruFocus gives the company a profitability and growth rating of 9 out of 10. The ROE of 39.43% and ROA of 12.37% are outperforming 71% of companies in the Global Pay TV industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.05 is below the industry median of 0.37.
The company's largest guru shareholder is Dodge & Cox with 1.13% of outstanding shares, followed by Steve Mandel (Trades, Portfolio) with 0.48% and First Eagle Investment (Trades, Portfolio) with 0.47%.
The investor reduced his Walt Disney Co. (DIS, Financial) stake by 51.25%. The trade had an impact of -0.33% on the portfolio.
The media and entertainment company has a market cap of $166.54 billion and an enterprise value of $191.5 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 20.97% and ROA of 9.68% are outperforming 85% of companies in the Global Media – Diversified industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.16 is below the industry median of 1.47.
With 0.34% of outstanding shares,Ă‚ PRIMECAP Management (Trades, Portfolio) is the company's largest guru shareholder, followed by Steven Cohen (Trades, Portfolio) with 0.31% and Diamond Hill Capital (Trades, Portfolio) with 0.16%.
The guru's JPMorgan Chase & Co. (JPM, Financial) position was curbed by 31.77%. The trade had an impact of -0.32% on the portfolio.
The bank has a market cap of $396.31 billion and an enterprise value of $307.12 billion.
GuruFocus gives the company a profitability and growth rating of 5 out of 10. The ROE of 8.80% and ROA of 0.96% are outperforming 60% of companies in the Global Banks – Global industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 1.28 is below the industry median of 2.05.
The company's largest shareholder among the gurus is Dodge & Cox with 0.75% of outstanding shares, followed by PRIMECAP Management with 0.68% and Barrow, Hanley, Mewhinney & Strauss with 0.56%.
Fisher cut his Daimler AG (DMLRY, Financial) holding by 41.79%. The transaction had an impact of -0.21% on the portfolio.
The German automaker has a market cap of $99.97 billion and an enterprise value of $152.92 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. While the ROE of 16.32% is outperforming the sector, the ROA of 3.86% is underperforming 51% of companies in the Global Auto Manufacturers industry.Ă‚ Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.37 is below the industry median of 0.74.
Holding 0.23% of the company's outstanding American depositary receipts, Fisher is the company's largest shareholder in the over-the-counter exchange.Ă‚
The guru reduced his position in Goldman Sachs Group Inc. (GS, Financial) by 33.65%. The trade had an impact of -0.12% on the portfolio.
The investment bank has a market cap of $101.48 billion and an enterprise value of $276.02 billion.
GuruFocus gives the company a profitability and growth rating of 5 out of 10. While the ROE of 4.30% is outperforming the sector, the ROA of 0.48% is underperforming 60% of companies in the Global Capital Markets industry. Its financial strength is rated 4 out of 10. The cash-debt ratio is 0.42.
The company's largest guru shareholder is Dodge & Cox with 3.66% of outstanding shares, followed by Buffett with 2.91%, Spiros Segalas (Trades, Portfolio) with 0.49% and Richard Pzena (Trades, Portfolio) with 0.37%.
Fisher also reduced his Bayerische Motoren Werke AG (BMWYY, Financial) holding by 46.96%. The trade had an impact of -0.1% on the portfolio.
The German auto manufacturer has a market cap of $75.63 billion and an enterprise value of $162.02 billion.
GuruFocus gives the company a profitability and growth rating of 6 out of 10. While the ROE of 15.52% is outperforming the sector, the ROA of 4.03% is underperforming 51% of companies in the Global Auto Manufacturers industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.16 is below the industry median of 0.74.
Fisher has the largest position in the company's ADR shares among the gurus, holding 0.12% of outstanding shares.
The Mitsubishi UFJ Financial Group Inc. (MTU, Financial) stake was trimmed by 86.74%, impacting the portfolio by -0.06%.
The Japanese financial services company has a market cap of $102.96 billion.
GuruFocus gives the company a profitability and growth rating of 5 out of 10. The ROE of 1.70% and ROA of 0.08% are underperforming 92% of companies in the Global Banks – Global industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 2.14 is above the industry median of 2.05.
The company's largest guru shareholder is Charles Brandes (Trades, Portfolio) with 0.04% of outstanding shares, followed by Simons with 0.01%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
