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Ken Fisher Buys 4 ETFs in the 2nd Quarter

Ken Fisher (Trades, Portfolio), a prolific investor, made exchange-traded funds and one stock his largest new positions during the second quarter, he reported this week.

Fisher's firm, Fisher Asset Management, started positions SPDR S&P Metals & Mining (XME), Alcon Inc. (NYSE:ALC), SPDR S&P Oil & Gas Explor & Product (XOP), iShares Global Industrials (EXI) and iShares PHLX Sox Semiconductor Sector Index Fund (NASDAQ:SOXX). The ETFs were part of 104 new positions the firm started during the quarter.

Fisher Asset Management's vast portfolio comprised 863 holdings, valued at $90.32 billion, at second quarter-end. The most-represented sectors were technology at 23.3%, financial services at 13.81% and health care at 11.18%. The largest positions were Visa Inc. (NYSE:V), Amazon.com Inc. (NASDAQ:AMZN) and Microsoft Corp. (NASDAQ:MSFT).

Fisher founded Fisher Investments in 1979. As of June 30, it had $112 billion in assets under management globally. His investment approach is based on the belief that supply and demand exclusively determine stock prices, and investors can gain an edge only through finding information that is not widely known by the markets or by interpreting information differently. Fisher also writes columns for a number of national publications and has written four best-selling books on investing.

New buys

SPDR S&P Metals & Mining (XME)

The firm purchased 3,299,800 shares of the ETF, giving it 0.10% portfolio weight. Its second-quarter share price averaged $28.

SPDR S&P Metals & Mining has a market cap of $529.050 million; its shares were traded around $27.20 Thursday with a price-earnings ratio of 6.20. The trailing 12-month dividend yield of SPDR S&P Metals & Mining is 2.41%.

Alcon Inc. (NYSE:ALC)

The firm purchased 1,359,964 shares of Alcon Inc., giving it 0.09% portfolio weight. Its second-quarter share price averaged $59.

Alcon Inc. has a market cap of $28.64 billion; its shares were traded around $58.88 Thursday with a price-sales ratio of 3.90.

SPDR S&P Oil & Gas Explor & Product (XOP)

The firm purchased 2,682,877 shares of the ETF, giving it 0.08% portfolio weight. Its second-quarter share price averaged $29.

SPDR S&P Oil & Gas Explor & Product has a market cap of $1.96 billion; its shares were traded around $23.47 Thursday with a price-earnings ratio of 7.16. The trailing 12-month dividend yield of SPDR S&P Oil & Gas Explor & Product stocks is 1.25%.

iShares Global Industrials (EXI)

The firm purchased 512,420 shares of the ETF, giving it 0.05% portfolio space. Its second-quarter share price averaged $89.

iShares Global Industrials has a market cap of $251.450 million; its shares were traded around $89.80 Thursday with a price-earnings ratio of 17.83. The trailing 12-month dividend yield of iShares Global Industrials is 2.10%.

iShares PHLX Sox Semiconductor Sector Index Fund (NASDAQ:SOXX)

The firm purchased 64,714 shares of the ETF, giving it 0.01% portfolio space. Its second-quarter share price averaged $196.

iShares PHLX Sox Semiconductor Sector Index Fund has a market cap of $1.6 billion; its shares were traded around $205.44 Thursday with a price-earnings ratio of 18.22. The trailing 12-month dividend yield of iShares PHLX Sox Semiconductor Sector Index Fund is 1.17%.

See Ken Fisher (Trades, Portfolio)'s portfolio here.

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This article first appeared on GuruFocus.