In this piece, we will take a look at the 10 Value Stocks in Ken Fisher’s Portfolio.

Trump’s “stupid” tariffs will fail; that’s the sentiment echoed by billionaire investor Ken Fisher as their impact continues to be felt far and wide. Fisher, the brains behind Fisher Asset Management joins a growing list of institutional investors concerned that tariffs will lower growth and raise inflation at a time of weakening consumer sentiment. Billionaire investor Bill Ackman has already warned that the U.S. could be headed to an “economic nuclear winter” as a result of the tariff policy rollout, costing Trump the confidence of business leaders.

While major indices have pulled back significantly amid deep selloff in various sectors, Trump insists on staying in the race to remake the global trade order. Stocks are already on the brink of plunging into bearish territories amid recession concerns. The global stock market has lost trillions of dollars since Trump imposed sweeping tariffs on every nation that exports products to the US. Stock indices abroad have also felt the brunt, dropping by more than 10%, as it becomes clear an extended trade war is the biggest threat to the global economy.

READ ALSO: Billionaire Stanley Druckenmiller’s Top 10 Stocks Picks with Huge Upside Potential and Top 10 Stocks in Ken Griffin’s Portfolio to Buy According to Analysts.

Amid the growing concerns, Fisher insists the pitfalls of the ravaging trade war are passing wind that will fade and fail.

“What Trump unveiled Wednesday is stupid, wrong, arrogantly extreme, ignorant trade-wise and addressing a non-problem with misguided tools,” Fisher wrote on social media platform “X.” “Yet, as near as I can tell it will fade and fail and the fear is bigger than the problem, which from here is bullish.”

How true that is, is still an open discussion as Trump stays put even as reciprocal tariffs come into play. China has already responded with an 84% tariff on US goods in response to the US imposing more than 100% tariffs on Chinese imports. The back-and-forth spat threatens to affect the global trade order, causing heightened jitters in the equity markets.

According to Fisher, the deep selloff on fears of a full-blown trade could be outsized compared to the issues around the policy itself. Consequently, the billionaire investor expects the market to bounce back and rally once the selloff dust settles.

“The fear is bigger than the problem can be,” Fisher continued. “Single period stock market comparisons are always iffy, but it may well be this goes something like the 1998 stock market correction leading to a 26% annual return.”

Even as investors turn their attention to safe havens in the race to store wealth, value stocks remain resilient. The top value stocks in the Fisher Asset Management portfolio stand out because they are well-established companies. The fact that they are undervalued due to the ongoing market correction amid the trade war presents an exciting opportunity. Additionally, the stocks are spread across various sectors, from financials to healthcare to consumer cyclical and technology.

Our Methodology

We combed Fisher Asset Management’s Q4 2024 13F filings to identify the 10 value stocks in Ken Fisher’s portfolio. We chose stocks that are trading at a forward P/E of less than 20 and are part of industries including energy, financials, and healthcare, among others. Finally, we ranked the stocks in ascending order based on the value of Fisher Asset Management equity stakes in the stocks while also outlining hedge fund sentiment for each stock as of Q4 2024.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

10 Value Stocks in Ken Fisher’s Portfolio

10. Johnson & Johnson (NYSE:JNJ)

Fisher Asset Management Equity Stake: $1.19 Billion

Forward P/E Ratio as of April 17: 14.58

Number of Hedge Holders: 98

Johnson & Johnson (NYSE:JNJ) researches and develops sales of various products in the healthcare field. Its portfolio boasts over 10 blockbuster drugs and spans several therapeutic areas, from infectious diseases to oncology. It is also a leading medical device maker, which adds diversification to its operations. It is a top-value stock in Ken Fisher’s portfolio, up by 3% year to date, as the overall stock market appears to be in a corrective phase.

Johnson & Johnson’s (NYSE:JNJ) cancer division has become a significant catalyst for growth, with experts predicting it will be the quickest-expanding segment in the company’s Innovative Medicine sector. The performance of CARVYKTI, a CAR-T cell treatment for multiple myeloma, has been especially remarkable. Analysts believe that CARVYKTI could achieve peak sales exceeding $10 billion.

The company intends to invest approximately $55 billion in the next four years to construct research infrastructure and production facilities. Additionally, it intends to enlarge a number of its current locations across the nation as part of its growth strategy. Johnson & Johnson (NYSE:JNJ) rewards investors with a 3.21% dividend yield, more than double the S&P 500 dividend yield. The company has paid dividends for 62 consecutive years, underscoring its shareholder value commitment.

9. Thermo Fisher Scientific Inc. (NYSE:TMO)

Fisher Asset Management Equity Stake: $1.39 Billion

Forward P/E Ratio as of April 17: 18.76

Number of Hedge Fund Holders: 100

Thermo Fisher Scientific Inc. (NYSE:TMO) provides tools and services for life sciences, diagnostics, lab work, and biopharma in North America, Europe, Asia-Pacific, and worldwide. On April 15, Thermo Fisher Scientific Inc. (NYSE:TMO) expanded its bioprocessing portfolio with the launch of the 5L DynaDrive Single-Use Bioreactor. This advancement and its partnership with NSG BIO to support biotech startups in Singapore highlight the company’s focus on innovation and growth in the biotechnology sector.

Thermo Fisher Scientific Inc. (NYSE:TMO) surpassed expectations in the fourth quarter of 2024, posting earnings of $6.10 per share and revenue of $11.40 billion, outperforming Wall Street estimates of $5.94 per share and $11.28 billion. The company showcased strong financial health with $3.3 billion in operating cash flow and $2.8 billion in free cash flow during the quarter. In 2024, Thermo Fisher returned $4.6 billion to shareholders via dividends and buybacks. In February, it increased its quarterly dividend by 10% to $0.43 per share, achieving a yield of 0.39% as of April 17, marking its eighth consecutive year of growth.