5 Stocks Billionaire Ken Fisher May Never Sell

3. Merck & Co., Inc. (NYSE:MRK)

Value of Fisher Investments’ 13F Position: $971 million

Number of Hedge Fund Shareholders: 85

Fisher Investments grew its Merck & Co., Inc. (NYSE:MRK) holding by 4% during Q1, giving it more than 11.8 million shares of the vaccine maker and pharmaceutical giant. Hedge fund ownership of Merck tied an all-time high at the end of Q1, which had previously been reached twice in 2017. Jeffrey Talpins’ Element Capital Management built a new stake of 23,603 MRK shares during Q1.

Merck & Co., Inc. (NYSE:MRK) shares have gained 22% this year, with their latest surge coming on July 11 when reports emerged that the company was looking to acquire Seagen Inc. (NASDAQ:SGEN) for more than $200 per share, with the deal possibly coming together by the end of July. The acquisition of Seagen would further bolster Merck’s strong oncology unit, though for that reason, the deal could also raise minor antitrust concerns.

The Carillon Clarivest International Stock Fund noted the impact of a recent Supreme Court ruling on Merck & Co., Inc. (NYSE:MRK) shares in its Q1 2022 investor letter:

“Merck (NYSE:MRK) is a global pharmaceutical and chemicals company based in Germany. Shares fell along with other vaccine-linked names after the U.S. Supreme Court blocked a rule mandating that businesses with more than 100 employees require those employed to either be vaccinated or tested weekly.”