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Billionaire Ken Fisher’s Most Bullish Q3 Moves

Compagnie Financiere Richemont SA (OTCMKTS:CFRUY)

– Shares Owned by Fisher Asset Management (as of September 30): 19.49 million

– Value of Fisher Asset Management’s Holding (as of September 30): $119.03 million

Switzerland-based luxury products company Richemont (CFRUY) was another favorite of Ken Fisher during the third quarter. The investor’s fund acquired over 14.45 million shares of the OTC stock, upping its stake in the firm by a whopping 287%. Last month, Richemont said it expects a 45% drop in operating profits for the first half of 2016, as the company grapples with an overall decline in sales in the industry. Richemont’s watches sales have been damaged in China as a result of crackdown against corruption by the government. Moreover, a downward spiral in shopping trends in Europe after terrorist attacks is also affecting the company’s financial outlook. The stock is down by over 8% so far this year. Just two funds in our database were long Richemont (CFRUY) at the end of the second quarter.

NXP Semiconductors NV (NASDAQ:NXPI)

– Shares Owned by Fisher Asset Management (as of September 30): 1.72 million

– Value of Fisher Asset Management’s Holding (as of September 30): $175.43 million

Ken Fisher’s fund boosted its stake in Netherlands-based semiconductor company NXP Semiconductors NV (NASDAQ:NXPI) by 115% as it acquired 922,990 new shares of the company in the third quarter, ending the quarter with a total of 1.72 million NXP Semiconductors NV (NASDAQ:NXPI) shares. Last month, the Wall Street Journal reported that California-based QUALCOMM, Inc. (NASDAQ:QCOM) is in talks to acquire NXP for about $30 billion with a possible deal to be announced in the next couple of months. NXP’s stock skyrocketed by 17% on the back of the news. The stock is up by over 20% so far this year. On Thursday, the European Commission (EC) approved the transaction under which NXP divests its Standard Products business, Nexperia, to a consortium of financial investors consisting of Beijing Jianguang Asset Management and Wise Road Capital Ltd. A total of 57 funds tracked by Insider Monkey had amassed approximately $1.40 billion worth of NXP Semiconductors NV (NASDAQ:NXPI)’s shares at the end of June.

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Goldman Sachs Group Inc (NYSE:GS)

– Shares Owned by Fisher Asset Management (as of September 30): 1.97 million

– Value of Fisher Asset Management’s Holding (as of September 30): $318 million

Fisher Asset Management acquired over 1.72 million shares of Goldman Sachs Group Inc (NYSE:GS) in the third quarter, ending the period with approximately 1.97 million shares of the company. On Thursday, the New York based finance giant Goldman Sachs Group Inc (NYSE: GS) launched new online lending business ‘Marcus’, which will offer uncollateralized personal loans to people to help them manage their credit card debt. Last month, Reuters reported that Goldman Sachs (NYSE:GS) was cutting around 30% of its 300 investment banking jobs in Asia. The company’s investment revenue tumbled 11% $1.79 billion in the second quarter, mainly due to a slowdown in activity in Asia. The stock has lost over 7% in value year-to-date. At the end of the second quarter, Warren Buffett’s Berkshire Hathaway owned 10.96 million shares of Goldman Sachs Group Inc (NYSE:GS).

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Disclosure: None

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