In this article, we discuss the 5 stocks that Ken Fisher is selling. If you want to read our detailed analysis of these stocks, go directly to Ken Fisher Is Selling These 10 Stocks.
5. Intel Corporation (NASDAQ:INTC)
Number of Hedge Fund Holders: 66
Percentage Decrease in Stake in Q4: 54%
Intel Corporation (NASDAQ:INTC) markets computer products and technologies. It is one of the top semiconductor stocks on Wall Street. At the end of the third quarter of 2021, 66 hedge funds in the database of Insider Monkey held stakes worth $6.4 billion in Intel Corporation (NASDAQ:INTC), compared to 78 in the previous quarter worth $6.7 billion.
Latest data shows that Fisher Asset Management owned over 15 million shares of Intel Corporation (NASDAQ:INTC) worth $775 million at the end of the fourth quarter of 2021, representing 0.43% of the portfolio of the fund.
4. Starbucks Corporation (NASDAQ:SBUX)
Number of Hedge Fund Holders: 58
Percentage Decrease in Stake in Q4: 62%
Starbucks Corporation (NASDAQ:SBUX) is a specialty coffee retailer. Securities filings reveal that Fisher Asset Management owned over 3.2 million shares of the company worth close to $377 million at the end of the fourth quarter of 2021, representing 0.21% of the portfolio.
Elite hedge funds are bullish on Starbucks Corporation (NASDAQ:SBUX). Among the hedge funds being tracked by Insider Monkey, London-based investment firm Fundsmith LLP is a leading shareholder in Starbucks Corporation (NASDAQ:SBUX) with 10.7 million shares worth more than $1.1 billion.
In its Q2 2021 investor letter, Polen Capital, an asset management firm, highlighted a few stocks and Starbucks Corporation (NASDAQ:SBUX) was one of them. Here is what the fund said:
“For Starbucks, we believe the underlying businesses for the company remain strong. Starbucks has grappled with the impact of the pandemic, but results have continued to show an ongoing post-pandemic recovery.”
3. Walmart Inc. (NYSE:WMT)
Number of Hedge Fund Holders: 71
Percentage Decrease in Stake in Q4: 62%
Walmart Inc. (NYSE:WMT) owns and runs retail stores. It is one of the most reliable retail stocks in the finance world. Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Walmart Inc. (NYSE: WMT) with 13 million shares worth more than $1.8 billion.
Regulatory filings show that Fisher Asset Management owned more than 5 million shares of Walmart Inc. (NYSE:WMT) worth close to $729 million at the end of December 2021. The firm has featured in the Fisher portfolio since the fourth quarter of 2017.
2. Parker-Hannifin Corporation (NYSE:PH)
Number of Hedge Fund Holders: 39
Percentage Decrease in Stake in Q4: 72%
Parker-Hannifin Corporation (NYSE:PH) markets motion and control technologies. At the end of the fourth quarter of 2021, the fund owned just 1,124 shares of Parker-Hannifin Corporation (NYSE:PH) worth $358,000.
Top hedge funds are largely bullish on Parker-Hannifin Corporation (NYSE:PH). Among the hedge funds being tracked by Insider Monkey, Ohio-based investment firm Diamond Hill Capital is a leading shareholder in Parker-Hannifin Corporation (NYSE:PH) with 1.4 million shares worth more than $476 million.
In its Q1 2021 investor letter, Oakmark Funds, an asset management firm, highlighted a few stocks and Parker-Hannifin Corporation (NYSE:PH) was one of them. Here is what the fund said:
“Parker Hannifin approached our estimates of intrinsic value and were, therefore, eliminated during the period. The company was a longstanding investment of the Fund and produced successful outcomes. We believe Parker Hannifin, one of our longest tenured positions, is a high-quality, well-managed industrial with strong competitive positions in good end markets. However, after the market price reflected these positives, we elected to sell to pursue more attractive alternatives that were priced at steeper discounts to our estimates of intrinsic value.”
1. Texas Pacific Land Corporation (NYSE:TPL)
Number of Hedge Fund Holders: 24
Percentage Decrease in Stake in Q4: 87%
Texas Pacific Land Corporation (NYSE:TPL) engages in land and resource management. At the end of the third quarter of 2021, 24 hedge funds in the database of Insider Monkey held stakes worth $1.9 billion in Texas Pacific Land Corporation (NYSE:TPL), up from 21 the preceding quarter worth $2.5 billion.
Texas Pacific Land Corporation (NYSE:TPL) had been featured in the Fisher portfolio since the first quarter of 2021. The fund sold off almost the entire holding during the fourth quarter of 2021. It now owns just 324 shares of Texas Pacific Land Corporation (NYSE:TPL) worth $405,000.
You can also take a peek at 10 Micro-Cap Stocks to Buy According to Cathie Wood and Top 10 Stocks to Buy According to Charles Pollnow’s Triple Frond Partners.
