Every quarter, many money managers have to disclose what they've bought and sold via "13F" filings. Their latest moves can shine a bright light on smart stock picks.
Today, let's look at Fisher Asset Management, founded in 1979 by Ken Fisher. You may know Fisher by his longtime column in Forbes magazine, where he's also No. 263 in the magazine's list of the 400 richest Americans, with a net worth of $1.7 billion. You may know his father, as well: Phil Fisher wrote the seminal investing text, Common Stocks, Uncommon Profits.
The reportable stock portfolio of Fisher's company totaled a whopping $33.8 billion in value as of June 30, 2012. It manages money for more than 100 large institutions, and its strategy involves macroeconomic research and fundamental analysis.
So what does Fisher's latest quarterly 13F filing tell us? Here are a few interesting details:
New holdings include Las Vegas Sands
Among holdings in which Fisher Asset Management increased its stake were McDonald's and Diamond Foods
Fisher Asset Management reduced its stake in lots of companies, including Cliffs Natural Resources
Finally, Fisher Asset Management unloaded several companies, such as Crane
We should never blindly copy any investor's moves, no matter how talented the investor. But, it can be useful to keep an eye on what smart folks are doing, and 13-F forms can be great places to find intriguing candidates for our portfolios.
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