Seeking Alpha
Newsletter provider, fund holdings, insider ownership
Profile| Send Message|
( followers)  

Ken Fisher is the author of seven money management books, three of which are New York Times bestsellers. He's been writing the Portfolio Strategy column for Forbes for more than 26 years, and he's the fourth-longest running columnist in Forbes' history. He is currently ranked #252 on the 2010 Forbes 400 list of richest Americans. He founded private investment firm Fisher Investments in 1979. He is also one of the fund managers we follow closely.

In 2010, Forbes published an accounting of Fisher’s stock picks made in his columns over the preceding 14 years. His stock picks beat the S&P 500 overall on average. Ken Fisher's picks lagged the S&P 500 in just three years within the last 14 years. His picks in 2009 outperformed the S&P 500 index by 24 percentage points. The outperformance in 2010 was 5 percentage points.

According to 13F filings, Fisher Asset Management has had at least 542 securities with a total value of $38.6 billion as of June 30th 2011. In the second quarter of 2011, he sold 60 securities and bought 63 new securities. Fisher sold 46 million worth of Logitech International (NASDAQ:LOGI) shares in the second quarter. Here is how his top 30 positions performed during the last month:

Stock

Value in Millions (USD)
As of Jun 30,2011

Return
Since Jun 30,2011

BASF SE-SPON ADR (OTCQX:BASFY)

933.0

-7.6%

SIEMENS AG-SPONS ADR (SI)

864.0

-7.4%

JOHNSON & JOHNSON (NYSE:JNJ)

713.5

-2.6%

SCHLUMBERGER LTD (NYSE:SLB)

702.6

4.6%

ORACLE CORP (NYSE:ORCL)

672.9

-6.9%

ISHARES IBOXX INV GR CORP BD (NYSEARCA:LQD)

650.5

2.4%

EMC CORP/MASS (NYSE:EMC)

602.0

-5.3%

SANOFI SPONSORED ADR (NYSE:SNY)

592.6

-3.5%

BHP BILLITON LTD-SPON ADR (NYSE:BHP)

591.4

-3.3%

NESTLE SA-SPONS ADR FOR REG (OTCPK:NSRGY)

591.4

2.2%

GENERAL ELECTRIC CO (NYSE:GE)

590.8

-5.0%

BAIDU INC - SPON ADR (NASDAQ:BIDU)

590.1

12.1%

EXXON MOBIL CORP (NYSE:XOM)

584.1

-2.0%

PPG INDUSTRIES INC (NYSE:PPG)

583.2

-7.3%

UNITED TECHNOLOGIES CORP (NYSE:UTX)

555.0

-6.4%

NATIONAL OILWELL VARCO INC (NYSE:NOV)

549.4

3.0%

ABB LTD-SPON ADR (NYSE:ABB)

537.2

-7.7%

APPLIED MATERIALS INC (NASDAQ:AMAT)

524.9

-5.3%

DOVER CORP (NYSE:DOV)

520.5

-10.8%

OCCIDENTAL PETROLEUM CORP (NYSE:OXY)

518.6

-5.6%

AMAZON.COM INC (NASDAQ:AMZN)

516.1

8.8%

ROCHE HOLDINGS LTD (OTCQX:RHHBY)

512.0

6.2%

UNILEVER N V -NY SHARES (NYSE:UN)

503.2

-1.1%

GLAXOSMITHKLINE PLC-ADR (NYSE:GSK)

500.1

3.5%

BANK OF NOVA SCOTIA (NYSE:BNS)

497.9

-5.7%

ABBOTT LABORATORIES (NYSE:ABT)

492.9

-1.6%

CATERPILLAR INC (NYSE:CAT)

480.3

-6.9%

RIO TINTO PLC-SPON ADR (NYSE:RIO)

467.8

-1.9%

MICROSOFT CORP (NASDAQ:MSFT)

464.5

5.4%

PFIZER INC (NYSE:PFE)

452.3

-6.6%

Value Weighted Return of Top 30 Holdings

17,355

-2.3%

SPY

N/A

-2.0%

Thirteen of Fisher's top positions managed to beat the market. Fisher's largest stock picks have lost 2.3% since the end of second quarter 2011, vs. a 2.0% lost for the SPY.

Allergan (NYSE:AGN) was Fisher's biggest new investment at the end of June 2011. Allergan is a multi-specialty healthcare company operating worldwide. AGN has lost 1.8% since the end of June. Allergan has a market cap of $24.8 billion and dividend yield of 0.2%. Fisher has $353 million invested in AGN. Jacob Gottlieb’s Visium Asset Management and Arthur Cohen’s Healthcor Management are other high profile hedge funds with large AGN investments. (See Arthur Cohen’s top holdings here.)

Fisher had $933 million in BASFY shares at the end of June. BASFY lost 7.6% in the last month, underperforming the SPY by 5.6 percentage points. BASFY has a market cap of $83 billion and P/E ratio of 9.8.

Johnson & Johnson lost 2.6% during the last month, underperforming the SPY’s 2.0% loss. JNJ has a market cap of $177.6 billion, P/E ratio of 15.5 and dividend yield of 3.5%. JNJ reported total sales of $16.6 billion for the second quarter of 2011, an increase of 8.3% compared to the second quarter of 2010. JNJ’s domestic sales increased 0.1%, while international sales increased 15.9%.

JNJ also reported net earnings of $2.8 billion for the second quarter of 2011. JNJ’s second-quarter 2011 net earnings included an after-tax charge of $549 million. Johnson & Johnson has one investor in it that will make other shareholders sleep better at night: Warren Buffett (check out Warren Buffett’s top holdings here). JNJ is also one of the high dividend stocks that hedge funds love.

The worst performing stock among Fisher’s top holdings was DOV, losing 10.8% since the end of June. Dover has a market cap of $11.2 billion and P/E ratio of 13.2. DOV reported revenue of $4.1 billion for the first half of 2011, an increase of 22% over the prior year period. DOV also reported net earnings of $249.8 million for the second quarter of 2011 compared to net earnings of $169.9 million for the same period of 2010.

Source: Ken Fisher's 30 Favorite Stock Picks