Billionaire Ken Fisher and Corporate Insiders Are Betting On These Stocks: Top 5 Stocks

In this piece, we will take a look at the top five stocks that Ken Fisher and corporate insiders are betting on. If you want to learn more about insider buying and Mr. Fisher’s hot takes, then check out Billionaire Ken Fisher and Corporate Insiders Are Betting On These Stocks.

5. American Express Company (NYSE:AXP)

Fisher Investments’ Q2 2023 Stake: $2 billion

American Express Company (NYSE:AXP) is one of the oldest companies on our list. It is best known for its travel services and credit cards, and the firm beat analyst EPS estimates for its second quarter earnings on a positive note for consumer spending. Director Walter Joseph Clatyon III  bought 1,000 shares worth $149,270 in November 2022.

Insider Monkey dug through 910 hedge funds for their June quarter of 2023 shareholdings and discovered that 73 had invested in the company. Out of these, American Express Company (NYSE:AXP)’s largest shareholder is Warren Buffett’s Berkshire Hathaway with a stake worth $26 billion.

4. Freeport-McMoRan Inc. (NYSE:FCX)

Fisher Investments’ Q2 2023 Stake: $2.1 billion

Freeport-McMoRan Inc. (NYSE:FCX) is one of the largest copper mining companies in the world. This places it at the heart of the electric vehicle revolution since these vehicles use copious amounts of copper. Right now, it is vying to regain the title of being the world’s largest copper producer, which it lost after it divested a portion of its copper mine in Indonesia. Director Ryan Michael Lance purchased $988,314 of stock in August 2022.

Freeport-McMoRan Inc. (NYSE:FCX)’s director Michael Ryan Lance bought a whopping $988,314 worth of shares in August 2022, and since then, the share price has appreciated by $7. Insider Monkey’s Q2 2023 survey of 910 hedge funds revealed that 66 had held a stake in the company. Fisher Investments is the firm’s biggest investor among these through a stake worth $2.1 billion.

3. Adobe Inc. (NASDAQ:ADBE)

Fisher Investments’ Q2 2023 Stake: $2.3 billion

Adobe Inc. (NASDAQ:ADBE) is one of the largest software companies in the world. It is one of Bank of America’s hottest artificial intelligence stock picks, with the bank upgrading its shares to Buy from Neutral and boosting the share price target to $630 from $575 in August based on an AI based revenue upside in its fiscal year 2024. The firm’s CFO Mr. Daniel Durn bought $936,358 worth of shares in September 2022.

By the end of this year’s second quarter, 109 out of the 910 hedge fund holdings studied by Insider Monkey had held a stake in the company. Out of these, Adobe Inc. (NASDAQ:ADBE)’s largest shareholder is Mr. Fisher’s hedge fund through its $2.3 billion investment.

2. The Home Depot, Inc. (NYSE:HD)

Fisher Investments’ Q2 2023 Stake: $2.7 billion

The Home Depot, Inc. (NYSE:HD) is a home improvement retailer. Its director Paula Santilli bought a $499,911 stake in November 2022, and the company has beaten analyst EPS estimates in all four of its latest quarters. The firm’s shares are rated Buy on average. Paula Santilli, a director, bought a $499,911 stake in the firm in November 2022.

As of 2023’s June quarter, 68 out of the 910 hedge funds part of Insider Monkey’s research had invested in The Home Depot, Inc. (NYSE:HD). Ken Fisher’s Fisher Investments is the firm’s biggest investor since it owns 8.5 million shares that are worth $2.65 billion.

1. Amazon.com, Inc. (NASDAQ:AMZN)

Fisher Investments’ Q2 2023 Stake: $5.3 billion

Amazon.com, Inc. (NASDAQ:AMZN) is one of the largest electronic commerce retailers in the world. The insider purchase that makes it appear on our list is a rather interesting one since it comes from the firm’s founder Mr. Jeff Bezos. While Mr. Bezsos buying his firm’s shares is not strange by any account, the fact that he only bought one share is.

Insider Monkey scoured through 910 hedge funds for their Q2 2023 investment portfolios to discover that 278 had owned a stake in the retailer. As is with most tech stocks, Mr. Fisher’s hedge fund is Amazon.com, Inc. (NASDAQ:AMZN)’s biggest hedge fund investor courtesy of its $5.3 billion stake.

Disclosure: None.  You can also take a look at Bill Gates Stock Portfolio: August 2023 Update and Stanley Druckenmiller 13F Portfolio: Top 15 Stocks.

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