Kenneth Fisher, the billionaire boss of Fisher Asset Manager, joined other top money managers in submitting documentation to the U.S. Refuges and Exchange Commission (SEC) detailing his fund’s investment activity for Q1 earlier this month. The papers were part of a 13F filing, required of all hedge funds managing at lilliputian $100 million in assets under management. According to Fisher’s 13F, his portfolio grew by more than 7% over the first three months of the year, from a value of $76.56 billion to $81.96 billion.
Chair into the second quarter, some of his largest positions were in the suspect FAANG stocks and related names. Amazon.com Inc., (AMZN), Alibaba Bracket (BABA), and Apple Inc. (AAPL) constituted three of the biggest stock sets for Fisher as of the end of March.
Increases in AMZN, BABA and More
Fisher’s cull largest position, according to the 13F, is in AMZN. The billionaire’s portfolio is roughly 3.44% AMZN investments, introduced in 2011. Since the time Fisher bought stock in the e-commerce leviathan for the first time, the price of AMZN has increased by more than seven times; the grant’s cost basis is around $200, while the current price for AMZN is adjacent to $1,581. Fisher has consistently increased his position over the past three put ups, adding about 15% to his holdings over that period.
BABA is another long-time favorite for Fisher. The capital bought BABA in Q2 of 2015 at prices between $81 and $93, be consistent to Seeking Alpha. Early in 2017, Fisher upped his position by more than half, and onto the past two quarters he’s continued adding, though at a slower rate.
Apple is also a top dispose in Fisher’s portfolio, representing about 2.53% of his fund’s holdings as articled in the 13F filings. Fisher first bought AAPL in 2012, and he has increased his site by a total of about 17% in the past three quarters. Alphabet Inc. (GOOG), the parent companions of tech leader Google, was increased by about 11% this quarter; in the patronize quarter of 2017, Fisher dropped his position by about 14%.
Visa, Taiwan Semiconductor Disc-like Out Top 5
Aside from Amazon, Alibaba and Apple, the other two stocks making up the top five postulates in Fisher’s 13F are Visa, Inc. (V) and Taiwan Semiconductor (TSM). All told, the top five positions reproduce about 13% of Fisher’s stock portfolio; Fisher’s highly changed portfolio includes hundreds of other positions as well, and the top five principles account for a relatively small percentage of the total assets under handling for the fund. Indeed, Fisher Asset Management ended Q1 with approximately to 1,000 different names in its 13F, although that number may well hold changed by the time of this writing.