Fisher Asset Management's Q4 2022 and Q1 2023 Portfolio: A Comparison of Holdings

Fisher Asset Management, LLC is a global financial firm that manages equities and other securities for high-net-worth individuals, institutions, and government agencies. The firm is founded and run by Dr. Kenneth Fisher, a renowned investor and author of several best-selling books on investing.

As part of its regulatory requirement, Fisher Asset Management files a quarterly report known as the Form 13F. This report shows the firm's holdings of publicly traded securities at the end of each quarter. In this article, we'll take a closer look at Fisher Asset Management's 13F holdings for Q4 2022 and compare them with its Q1 2023 holdings.

The Data:

To start with, the data shows that Fisher Asset Management reduced its holdings of several companies between Q4 2022 and Q1 2023. For instance, its holdings of Apple, Microsoft, Caterpillar, Johnson & Johnson, and Schlumberger all decreased by more than 2.5% during the period. However, the total value of these holdings increased mainly because of the increase in the value of these stocks during the period under review.

Also, the data shows that Fisher Asset Management increased its holdings of several other companies in Q1 2023 compared to Q4 2022. For example, it increased its holdings of ASML, Salesforce, NVIDIA, and Novo Nordisk by more than 2.6% during the period. The total value of these holdings also increased mainly because of the increase in the value of these stocks during the period under review.

Furthermore, the data shows that Fisher Asset Management added new positions during Q1 2023 while also selling some of its existing positions. For instance, the firm added new positions in Booking Holdings, Toyota Motor Corp, and ABB LTD ADR. It also sold some of its existing positions in companies like Charles Schwab, Invesco QQQ Trust, and ConocoPhillips during the same period.

In terms of the sector allocation, Fisher Asset Management's holdings were tilted towards the Information Technology sector, which accounts for more than 25% of the total portfolio value. Other sectors with significant representation in the portfolio include Healthcare, Financials, and Consumer Discretionary.

Conclusion:

In conclusion, Fisher Asset Management's 13F holdings data for Q4 2022 and Q1 2023 showed that the firm reduced its holdings in some companies, increased its holdings in others, added new positions, and sold some of its existing positions. It's worth noting that these changes might have been driven by several factors, including market conditions, fundamental analysis, and portfolio rebalancing strategies. Investors should also note that past performance does not guarantee future performance, and they should conduct their analysis before making any investment decisions.