An exchangeable anchor assembly, comprising a shank having a free end adapted to be connected to a line, with two parallel plates disposed at an opposite end of the shank sandwiching the shank therebetween. A stock is rotatably disposed between the plates perpendicular to the stem, the cross bar having a non-rounded cross section. Two flukes each have an opening substantially the same as the cross section of the stock and are slidable thereon frm opposite ends thereof. Two stabilizers are disposed nonrotatably on the ends of the stocks and are releasable secured thereto. Cam projections cooperating with the plates limit the rotatable movement of the stock relative to the shank.