London-based Barclays ( BCS) is another massive financial name that Fisher Investments added to its portfolio in the latest quarter. The firm bought close to 15.6 million shares of the U.K. bank, taking on a $236 million position in the firm. Barclays was the biggest U.K.-based bank to avoid taking government bailout cash when 2008 brought the system to a screeching halt, a feat that management deserves some credit for pulling off (even if it came at the expense of some shareholder equity). >>7 Defensive Bank Stocks From FBR Like Morgan Stanley, Barclays owns a thriving investment bank, which chips in around half of the firm's total profits. Unlike MS, Barclays unloaded its own asset management unit in late 2009, selling it to BlackRock ( BLK) to create the biggest asset management firm in the world. The fact that Barclays retained 20% of BLK in return is a big benefit for shareholders. BLK has proven more adept than any bank at running its asset management business. Again, Barclays isn't spotless; the UK economy is under serious pressure right now, threatening the bank's loan book. While a push to bank in emerging markets is a positive for BCS shareholders right now, buyers shouldn't forget about the health of those U.K. loans. The decision to buy the assets of Lehman Brothers at a massive discount should give BCS a big boost once economic engines get roaring again -- as long as it can keep costs like compensation from eating up too much profit. U.K. regulators should help with that.