Does anyone know billionaire Ken Fisher? Of course, especially in the money management space. Mr. Fisher, the founder and current CEO of Fisher Investments, is probably best known within the investment community for his Forbes Portfolio Strategy column, which he has been writing for more than three decades.
His money management firm, founded in 1979, has grown into one of the premier money management firms in the world with $67 billion under management. Fisher Investments manages money for some of the wealthiest Americans, so one would definitely benefit from having a look into the equity portfolio of this huge player in the money management space. Mr. Fisher’s Fisher Asset Management LLC recently filed its 13F for the June quarter, so Insider Monkey decided to compile a list of five technology stocks favored by the highly-esteemed money manager and his team.
Through extensive research, we determined that imitating some of the picks of hedge funds and other institutional investors can help generate market-beating returns over the long run. The key is to focus on the small-cap picks of these investors, since they are usually less followed by the broader market and are less price-efficient. Our backtests that covered the period between 1999 and 2012, showed that following the 15 most popular small-caps among hedge funds can help a retail investor beat the market by an average of 95 basis points per month (see more details here).
#5. Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM)
– Shares owned by Fisher Asset Management as of June 30: 29.24 Million
– Value of Fisher Asset Management’s holding as of June 30: $795.37 Million
Fisher Asset Management owns 29.24 million American Depositary Shares (ADSs) of Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) as of the end of the second quarter, 1.14 million ADSs more than at the end of the March quarter. The upped stake was valued at $795.37 million on June 30 and accounted for 1.5% of the firm’s entire portfolio. The Taiwan-based contract chip manufacturer has seen its market value gain 18% since the beginning of 2016. Reportedly, TSMC will be the sole manufacturer of the A10 chip that will power the much-anticipated iPhone 7, so the chip maker should benefit from the upcoming iPhone cycle regardless of whether iPhone unit sales will rebound or not. In a fresh monthly Forbes column published in mid-June, Ken Fisher said that TSMC “grows, gains market share, maintains profitability and flabbergasts most-while remaining underappreciated among stocks”. Howard Marks’ Oaktree Capital Management had 4.46 million ADSs of Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) in its portfolio at the end of March.