Ken Fisher is one of the most popular American investors, Forbes columnist since 1984, and the author of the eleven investment books, four of which are New York Times Best Sellers. His latest book is Beat The Crowd which is published this year. Fisher started his own investment company in 1979. Fisher expects higher than %15 return for the S&P 500 in 2015. Fisher’s Fisher Asset Management disclosed its 13F filing with SEC on 30th April, 2015. Ken Fisher has 605 positions in his 13F portfolio which valued at $50 billion as at the end of the first quarter of 2015. According to this recent filing, Fisher’s largest stock positions are Apple Inc. (NASDAQ:AAPL), Pfizer Inc. (NYSE:PFE), Johnson & Johnson (NYSE:JNJ) and Wells Fargo & Co (NYSE:WFC).
The average annual gain of the equity hedge funds during the last three years was 5.8%versus 20.6% for the S&P 500 in the same time period. Some of the major reasons of this low performance are (1) most of the hedge funds are managing huge amounts so they must allocate higher percentage of their portfolio to large cap stocks; (2) some of the hedge fund managers are not talented and; (3) hedge fund managers charges between 30% and 80% of their total returns as fees. In spite of all these circumstances, hedge funds spend more time and money to find best investment ideas than any other investors. We constructed small-cap hedge fund strategy because we want to benefit from best investment ideas of best hedge funds. The most popular small-cap stocks among hedge funds managed to outperform the S&P 500 Index by nearly 20 percentage points since the end of August 2012 (click here to learn details).
Apple Inc. (NASDAQ:AAPL) was the largest stock investment of Ken Fisher with the investment value of $1.34 billion at the end of first quarter of 2015. For its recently ended second fiscal quarter, Apple, which owns one of the most profitable businesses ever, reported revenue of $58.0 billion and net profit of $13.6. The company increased its revenue by 27% and net profit by 33% compared to the same quarter of the previous year. iPhone, Mac and record performance of App Store supported strong financial performance in this quarter. Apple Inc. (NASDAQ:AAPL) also released forward looking statements for its fiscal 2015 third quarter. Apple Inc. (NASDAQ:AAPL) expects revenue between $46 billion and $48 billion; gross margin between 38.5% and 39.5% and; operating expenses between $5.65 billion and $5.75 billion. Carl Icahn’s Icahn Capital and Phill Gross’ Adage Capital Management are other major investors of the company.