Legendary investor Ken Fisher's hedge fund, Fisher Asset Management, grew the value of its portfolio by more than $14 billion dollars in the last quarter.
Here's a look at the fund's most significant trades.
Top Holdings: Fisher Asset Management reported approximately $244 billion in assets under management (AUM), according to an SEC filing.
The firm also added small amounts to each of its top five positions:
- Apple, Inc. (NASDAQ:AAPL)
- Microsoft Corp. (NASDAQ:MSFT)
- NVIDIA Corp. (NASDAQ:NVDA)
- Amazon.com, Inc. (NASDAQ:AMZN) and
- Alphabet, Inc. (NASDAQ:GOOGL).
Top Buys: Fisher Asset Management's top buy in terms of value was $2.09 billion in shares of the iShares 7-10 Year Treasury Bond ETF (NASDAQ:IEF) which provides targeted exposure to U.S. Treasury bonds with remaining maturities between seven and ten years. Treasury bonds are generally considered low-risk investments, which can help balance riskier assets in a diversified portfolio.
The fund's second and third-largest buys were $850 million in shares of JPMorgan Chase & Co. (NYSE:JPM) and $490 million worth of shares of oil and natural gas producer ConocoPhillips (NYSE:COP).
Top Sells: The hedge fund's top sells by value were $1.35 billion in shares of the iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSE:LQD), $750 million worth of Walt Disney Co. (NYSE:DIS) shares and $710 million in shares of Ford Motor Co. (NYSE:F).
New Holdings: One of the fund's most notable new holdings is Nu Holdings Ltd. (NYSE:NU), a digital banking services provider also backed by Warren Buffett. Fisher Asset management opened a position in Nu Holdings with approximately 7.23 million shares valued at more than $98.7 million.
The hedge fund also took a $28.3 million new position in wealth manager UBS Group AG (NYSE:UBS) and opened a $17.2 million position in the iShares MSCI China A ETF (BATS:CNYA), which tracks an index composed of Chinese equities available to international investors.
Why It Matters: Hedge funds often use sophisticated investment strategies and have access to extensive research which can provide insights into emerging market trends. Individual investors can track hedge funds for investment ideas, successful strategies or compare their own performance against professional investors.
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