In this article, we shall discuss how billionaire Ken Fisher bought these 5 stocks for the rest of 2022. To read our detailed analysis of Fisher’s history, his investment philosophy, and hedge fund performance, go directly and see Billionaire Ken Fisher Bought These 10 Stocks for the Rest of 2022.
5. M&T Bank Corp. (NYSE:MTB)
Fisher Investments’ Stake Value: $639,000
Number of Hedge Fund Holdings: 39
Headquartered in Buffalo, New York, M&T Bank Corp. (NYSE:MTB) is an American bank holding company, which operates 780 branches all over the United States. In the second quarter of 2022, the company posted an EPS of $1.08, trailing behind estimates of $2.44 by $1.36. As of August 27, M&T Bank Corp. (NYSE:MTB) has gained 16.28% year-to-date, with a total market capitalization of $32.32 billion. Moreover, the company reported a total revenue of $1.98 billion in Q2 2022.
Investor interest in M&T Bank Corp. (NYSE:MTB) depreciated in the second quarter of 2022, with 39 hedge funds having a collective stake of more than $1 billion in the company. This was down from the preceding quarter, where 40 hedge funds reported having stakes in M&T Bank Corp. (NYSE:MTB). As of Q2 2022, Ken Griffin’s Citadel Investment Group is the largest shareholder in the company, owning more than 1.9 million shares worth $309.1 million. As of the second quarter of 2022, Fisher Investments purchased 4,011 shares in M&T Bank Corp. (NYSE:MTB), awarding the hedge fund a stake of $639,000.
4. Parsons Corp. (NYSE:PSN)
Fisher Investments’ Stake Value: $723,000
Number of Hedge Fund Holdings: 12
Based in Centreville, Virginia, Parsons Corp. (NYSE:PSN) is an American technology-focused defense, intelligence, security, and infrastructure engineering firm. On August 3, the company reported its Q2 2022 results. It posted a total revenue of $1.01 billion in Q2, beating analyst consensus of $929.03 million. Furthermore, Parsons Corp. (NYSE:PSN) met estimates in Q2 2022, posting an EPS of $0.12.
Overall, Q2 returns for Parsons Corp. (NYSE:PSN) were strong, as the company built on the momentum established over the last year. The company achieved year-over-year organic revenue growth of 9% and generated EBITIDA and cash flow results in-line with analyst expectations. According to CEO Carey Smith, Parsons Corp. (NYSE:PSN) is well-positioned to take advantage of the growing budgets and opportunities that exist in the company’s critical infrastructure and national security markets.
3. Berkshire Hathaway Inc Class A (NYSE: BRK.A)
Fisher Investments’ Stake Value: $1.22M
Number of Hedge Fund Holdings: 109
Based in Kiewit Plaza, Omaha, Berkshire Hathaway Inc. is an American multinational conglomerate holding company. Owned by legendary billionaire Warren Buffett, some of the most prominent companies Berkshire Hathaway Inc. owns are Long and Foster, Duracell, and NetJets. As of Q2 2022, hedge fund sentiment around Berkshire Hathaway Inc. has grown more favorable, with 109 hedge funds long the stock in Q2 2022, compared to 104 in the preceding quarter. As of Q2 2022, Bill and Melinda Gates Foundation Trust is the largest shareholder in the company, owning more than 34.7 million shares worth $9.47 billion. Fisher Investments bought a stake in Berkshire Hathaway Inc. in the second quarter of 2022, purchasing 3 shares worth $1.22 million.
Here is what Diamond Hill Capital, an investment management firm, has to say about Berkshire Hathaway Inc. in their Q1 2022 investor letter:
“Diversified holding company Berkshire Hathaway reported strong earnings during the quarter and benefited from continued share repurchases below intrinsic value. The company also announced significant deployments of excess cash during the quarter, including the acquisition of Alleghany and a large increase in its stake in Occidental Petroleum.”
2. ICICI Bank Ltd. (NYSE:IBN)
Fisher Investments’ Stake Value: $3.94M
Number of Hedge Fund Holdings: 27
Based in Vadodara, Gujrat, ICICI Bank Ltd. (NYSE:IBN) is an Indian multinational bank and financial services company which offers a wide range of banking products and financial services for corporate and retail customers. The company has a network of more than 5270 branches and 15,589 ATMs across India, and has a presence in over 17 countries including the United States, the United Kingdom, Canada, Qatar, and many more. As of the second quarter of 2022, ICICI Bank Ltd. (NYSE:IBN) reported a total revenue of $3.52 billion.
Investor interest around ICICI Bank Ltd. (NYSE:IBN) has declined in the second quarter of 2022, with 27 hedge funds having a collective stake of $1.07 billion. This was down from the preceding quarter, when 28 funds were long the stock, having a cumulative stake of $1.22 billion. As of Q2 2022, Rajiv Jain’s GQG Partners is the largest stakeholder in ICICI Bank Ltd. (NYSE:IBN), owning more than 28.3 million shares worth $502.9 million. Fisher Investments purchased 221,896 shares in ICICI (NYSE:IBN) in Q2 2022, having a total stake of $3.94 million.
1. Chemical & Mining Co. of Chile Inc. (NYSE:SQM)
Fisher Investments’ Stake Value: $33.4M
Number of Hedge Fund Holdings: 29
Headquartered in Santiago, Chemical & Mining Co. of Chile Inc. (NYSE:SQM) is a Chilean chemical company and a supplier of plant nutrients, iodine, lithium, and industrial chemicals. It is the world’s biggest lithium producer, and as of the second quarter of 2022, hedge fund sentiment around Chemical & Mining Co. of Chile Inc. (NYSE:SQM) is at an all-time-high, with 29 hedge funds having a total stake of $658.6 million in the company. This is up from Q1 2022, when only 28 hedge funds were long the stock. As of Q2 2022, Fisher Investments purchased 399,964 shares in Chemical & Mining Company (NYSE:SQM), having a stake of $33.4 million. The company contributes 0.02% to Fisher’s 13F portfolio for Q2 2022.
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