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Fisher Asset Management Trims Infosys, Equinor Positions

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GuruFocus.com
·4 min read
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- By Tiziano Frateschi

Ken Fisher (Trades, Portfolio)'s Fisher Asset Management sold shares of the following stocks during the fourth quarter, which ended on Dec. 31.


BTC iShares Global Energy ETF

The firm trimmed its stake in BTC iShares Global Energy ETF (IXC) by 87.9%. The trade had an impact of -0.30% on the portfolio.

Fisher Asset Management Trims Infosys, Equinor Positions
Fisher Asset Management Trims Infosys, Equinor Positions

Infosys

The firm curbed its position in Infosys Ltd. (NYSE:INFY) by 30.09%. The trade had an impact of -0.10% on the portfolio.

The IT services provider has a market cap of $73.77 billion and an enterprise value of $70.93 billion.

Fisher Asset Management Trims Infosys, Equinor Positions
Fisher Asset Management Trims Infosys, Equinor Positions

GuruFocus gives the company a profitability and growth rating of 10 out of 10. The return on equity of 27.85% and return on assets of 19.53% are underperforming 91% of companies in the software industry. Its financial strength is rated 8 out of 10 with a cash-debt ratio 5.79.

The largest guru shareholders of the company are Fisher with 0.45% of outstanding shares, Sarah Ketterer (Trades, Portfolio) with 0.14% and Pioneer Investments (Trades, Portfolio) with 0.07%.

Essilorluxottica

The Essilorluxottica (ESLOY) holding was reduced by 92.01%, impacting the portfolio by -0.04%.

The company, which manufactures premium frames, sunglasses and optical lenses, has a market cap of $64.95 billion and an enterprise value of $71.09 billion.

Fisher Asset Management Trims Infosys, Equinor Positions
Fisher Asset Management Trims Infosys, Equinor Positions

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of -0.02% and return on assets of -0.01% are outperforming 50% of companies in the medical devices and instruments industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.64 is below the industry median of 2.18.

The largest guru shareholder of the company is Fisher with 0.01% of outstanding shares.

BTC iShares Global Tech ETF

The firm trimmed its position in BTC iShares Global Tech ETF (IXN) by 19.69%. The portfolio was impacted by -0.03%.

Fisher Asset Management Trims Infosys, Equinor Positions
Fisher Asset Management Trims Infosys, Equinor Positions

Equinor

The firm trimmed its Equinor ASA (NYSE:EQNR) stake by 80.26%. The portfolio was impacted by -0.03%.

The Norway-based integrated oil and gas company has a market cap of $59.24 billion and an enterprise value of $79.56 billion.

Fisher Asset Management Trims Infosys, Equinor Positions
Fisher Asset Management Trims Infosys, Equinor Positions

GuruFocus gives the company a profitability and growth rating of 6 out of 10. While the return on equity of -8.87% is underperforming the sector, the return on assets of -2.94% is outperforming 55% of companies in the oil and gas industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.49 is above the industry median of 0.41.

The largest guru shareholder of the company is Jim Simons (Trades, Portfolio)' Renaissance Technologies with 0.23% of outstanding shares, followed by Steven Cohen (Trades, Portfolio) with 0.14% and Caxton Associates (Trades, Portfolio) with 0.07%.

Sanofi

The Sanofi SA (NASDAQ:SNY) position was reduced by 2.2%, impacting the portfolio by -0.02%.

The company, which develops a diverse array of pharmaceutical drugs, has a market cap of $118.78 billion and an enterprise value of $129.78 billion.

Fisher Asset Management Trims Infosys, Equinor Positions
Fisher Asset Management Trims Infosys, Equinor Positions

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 18.54% and return on assets of 9.76% are outperforming 8% of companies in the drug manufacturers industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.64 is below the industry median of 0.93.

The largest guru shareholder of the company is Dodge & Cox with 1.57% of outstanding shares, followed by Fisher with 0.72% and Hotchkis & Wiley with 0.14%.

Vanguard FTSE Emerging Markets ETF

The firm reduced its position in Vanguard FTSE Emerging Markets ETF (VWO) by 92.36%. The portfolio was impacted by -0.02%.

Fisher Asset Management Trims Infosys, Equinor Positions
Fisher Asset Management Trims Infosys, Equinor Positions

Waddell & Reed

The firm exited its position in Waddell & Reed Financial Inc. (NYSE:WDR). The portfolio was impacted by -0.02%.

The investment services provider has a market cap of $1.57 billion and an enterprise value of $916 million.

Fisher Asset Management Trims Infosys, Equinor Positions
Fisher Asset Management Trims Infosys, Equinor Positions

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 11.87% and return on assets of 7.8% are outperforming 83% of companies in the asset management industry. Its financial strength is rated 8 out of 10. The cash-debt ratio of 7.84 is below the industry median of 17.41.

The largest guru shareholder of the company is Mario Gabelli (Trades, Portfolio)'s GAMCO Investors with 2.14% of outstanding shares, followed by Chuck Royce (Trades, Portfolio) with 1.23% and Jeremy Grantham (Trades, Portfolio) with 1.12%.

Disclosure: I do not own any stocks mentioned.

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This article first appeared on GuruFocus.