Bankim Chadha, Deutsche Bank’s chief global strategist, joined CNBC’s ‘The Exchange’ on June 24 to express a cautionary view regarding further monetary policy movement despite recent positive inflation reports. He made a historical reference attributed to his colleague, rate strategist Francis Yarad. In 1973, following an oil shock and associated shortages, inflation rose, and the Fed hiked rates. But then long-term rates either moved sideways or slightly decreased during this period. Therefore, a recession occurred, which made the Fed cut rates in response.

However, in that historical instance, the term premium and the long end of the yield curve increased and continued to rise. Chadha points out this seemingly perverse dynamic, where long-term rates fell when the Fed hiked but rose when the Fed began to cut, which suggests that the inflation shock was being accommodated. He notes that a similar phenomenon occurred more recently in the fall when the Fed cut rates and the long end of the curve rose. He explains that the current market dynamics hinge on the nature of ongoing shocks, such as tariffs and oil prices. If these are perceived as negative supply shocks, and if tariffs remain unresolved, then a rate cut might not make sense and could lead to perverse dynamics.

That being said, we’re here with a list of the 12 best S&P 500 stocks with huge upside potential.

Methodology

We sifted through the Finviz stock screener to compile a list of the top S&P 500 stocks that had a high average upside potential of over 20% as of June 24. The stocks are ranked in ascending order of their average upside potential. We’ve also added the hedge fund sentiment for each stock, which was sourced from Insider Monkey’s database, as of Q1 2025. The hedge fund data was sourced from Insider Monkey’s database which tracks the moves of over 1000 elite money managers.

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).

12 Best S&P 500 Stocks With Huge Upside Potential

12. DuPont de Nemours Inc. (NYSE:DD)

Number of Hedge Fund Holders: 64

Average Upside Potential as of June 24: 24.62%

DuPont de Nemours Inc. (NYSE:DD) is one of the best S&P 500 stocks with huge upside potential. On June 10, DuPont announced that 13 of its current and former scientists and engineers have been named 2025 Heroes of Chemistry by the American Chemical Society/ACS. The prestigious award recognizes their collaborative development of embedded barrier layer technology, which is a significant advancement in semiconductor lithography, specifically for 193 nm immersion lithography.

The innovation addresses challenges like defectivity and process stability in early immersion lithography by integrating barrier functionality directly into the photoresist. The ACS Heroes of Chemistry Award is presented annually to industrial scientists whose work results in the successful development and commercialization of impactful chemistry-based products. The 2025 awardees will be formally recognized at a ceremony in August, during the ACS Fall 2025 meeting in Washington, D.C.

The integration simplifies lithography processes and leads to lower materials usage and reduced energy consumption. Formulations incorporating this technology have been adopted across the global semiconductor industry and support the development of technologies like AI, advanced computing, and consumer electronics.

DuPont de Nemours Inc. (NYSE:DD) provides technology-based materials and solutions. It operates through Electronics & Industrial, Water & Protection, and Corporate & Other segments.

11. Akamai Technologies Inc. (NASDAQ:AKAM)

Number of Hedge Fund Holders: 40

Average Upside Potential as of June 24: 24.91%

Akamai Technologies Inc. (NASDAQ:AKAM) is one of the best S&P 500 stocks with huge upside potential. On June 11, Akamai Technologies announced a strategic partnership with Cloudinary. Under the new agreement, Cloudinary’s AI-powered video solution will be integrated into Akamai’s next-gen Video Manager solution.

The collaboration aims to simplify video management and delivery for Akamai Video Manager customers by addressing common challenges like time-consuming post-production work. Additionally, Cloudinary has joined the Akamai Qualified Compute Partner Program as an Independent Software Vendor/ISV. As an ISV, Cloudinary brings over a decade of experience in managing and delivering high-performing video experiences at scale, which will now be deployed on the Akamai Cloud.

Cloudinary currently supports over 1 billion videos for thousands of customers across nearly every industry. The Akamai Qualified Compute Partner Program is designed to provide Akamai customers with easy access to solution-based services that are interoperable with Akamai cloud computing services. Technology partners in this program undergo a qualification process to ensure their services can be readily deployed and scaled across the globally distributed Akamai Cloud.

Akamai Technologies Inc. (NASDAQ:AKAM) provides security, delivery, and cloud computing solutions in the US and internationally. Cloudinary is an image and video platform that helps the world’s most engaging brands deliver transformative visual experiences at a global scale.

10. Bio-Techne Corporation (NASDAQ:TECH)

Number of Hedge Fund Holders: 34

Average Upside Potential as of June 24: 26.0%

Bio-Techne Corporation (NASDAQ:TECH) is one of the best S&P 500 stocks with huge upside potential. On June 24, Bio-Techne Corporation announced a distribution agreement with the US Pharmacopeia/USP. The collaboration allows Bio-Techne to sell USP monoclonal antibody/mAb and recombinant adeno-associated virus/AAV reference standards alongside its analytical solutions, like the Maurice system, to support the global development of monoclonal antibody and gene therapy products.

Over 160 antibody therapies targeting ~100 diseases have been approved worldwide. The expiration of mAb patent protections and the emergence of biosimilar versions further emphasize the need for rigorous testing of critical quality attributes throughout the development and manufacturing processes for product safety and efficacy.

The USP mAb and AAV reference standards are compatible with Bio-Techne’s analytical instruments, such as the MauriceFlex system. By combining these standards with Bio-Techne’s rapid, user-friendly, and multi-functional analytics, therapy manufacturers can achieve reliable, efficient, and integrated characterization for purity, charge, size, and identity applications for complex biologics, from the initial development phases through to product release.

Bio-Techne Corporation (NASDAQ:TECH) develops, manufactures, and sells life science reagents, instruments, and services for the research, diagnostics, and bioprocessing markets worldwide.

9. Biogen Inc. (NASDAQ:BIIB)

Number of Hedge Fund Holders: 52

Average Upside Potential as of June 24: 30.63%

Biogen Inc. (NASDAQ:BIIB) is one of the best S&P 500 stocks with huge upside potential. As of June 16, Biogen emerged as a prominent contender at the Cannes Lions International Festival of Creativity and secured 4 nominations on the Pharma shortlist for its campaigns related to Friedreich’s ataxia. This marks a significant presence for Biogen, especially after winning a bronze medal at the 2024 awards.

Biogen’s 4 nominations in the Pharma category for its Friedreich’s ataxia work included 3 in the “direct-to-patient ads for products or services” category and one in the “disease awareness and understanding” shortlist. All these campaigns are connected to Biogen’s Friedreich’s ataxia drug, Skyclarys, which it acquired in 2023 through a $7.3 billion takeover of Reata Pharmaceuticals.

One notable campaign, developed with ad agency 21Grams, is a dark comedy web series titled “Friedreich’s Back.” This nine-episode series humorously depicts Nikolaus Friedreich, the neurologist who discovered Friedreich’s ataxia, returning from the dead to learn about Skyclarys and navigate the modern world as an intern at Biogen. Biogen was not shortlisted in the Health & Wellness category, where Bristol-Myers Squibb Co. (NYSE:BMY) and Novartis (NYSE:NVS) represented the industry.

Biogen Inc. (NASDAQ:BIIB) discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the US, Europe, Germany, Asia, and internationally.

8. MGM Resorts International (NYSE:MGM)

Number of Hedge Fund Holders: 52

Average Upside Potential as of June 24: 31.58%

MGM Resorts International (NYSE:MGM) is one of the best S&P 500 stocks with huge upside potential. On June 18, Inspired Entertainment Inc. (NASDAQ:INSE) announced that BetMGM has become the first in the US to launch the innovative Hybrid Dealer Roulette 4-Ball Extra Bet game. BetMGM is a sports betting and gaming entertainment company that was born out of a partnership between MGM Resorts International and Entain Plc (OTC:GMVHF). BetMGM has exclusive access to all of MGM’s US land-based & online sports betting and gaming businesses.

The launch is under a three-month exclusive agreement, marking the first US deployment of this new offering. Hybrid Dealer Roulette 4-Ball Extra Bet is a component of Inspired’s Hybrid Dealer portfolio. The patented technology combines original game design with CGI and pre-recorded hosts to create a unique roulette experience that offers the excitement of a live casino environment without the operational challenges typically associated with live-dealer products.

The game introduces 4-Ball Extra Bets, which allow players to place new wagering options with potential payouts reaching up to 500-to-1. Bets can be placed via the standard roulette table, a neighbor bets table, or a dedicated special bets interface that includes features like hot and cold numbers. The Hybrid Dealer platform ensures ultra-realistic action and smooth visual transitions throughout gameplay, while incorporating social engagement features.

MGM Resorts International (NYSE:MGM) is a gaming and entertainment company that operates through four segments: Las Vegas Strip Resorts, Regional Operations, MGM China, and MGM Digital. Inspired Entertainment Inc. (NASDAQ:INSE) is a gaming technology company that supplies content, platform, and other products and services.

7. Centene Corporation (NYSE:CNC)

Number of Hedge Fund Holders: 64

Average Upside Potential as of June 24: 34.14%

Centene Corporation (NYSE:CNC) is one of the best S&P 500 stocks with huge upside potential. On June 20, following Governor Newsom’s declaration of a State of Emergency in Malibu Canyon, City of Malibu, due to the Franklin Fire, Health Net announced immediate actions to support its members and healthcare providers. Health Net is a company of Centene Corporation and a Medi-Cal managed care health plan in California.

For prescription needs, impacted members have 2 options: they can fill their prescriptions at their original pharmacy if it is operational. If not, they can call Health Net at 1-800-400-8987, where refill limitations will be suspended, allowing them to obtain prescriptions from an out-of-network pharmacy. Additionally, Health Net offers 24/7 crisis support through its Behavioral Health Services by calling 1-800-400-8987 (TTY: 711).

Support includes assistance for grief, stress, or trauma, as well as referrals to mental health counselors, local services, and telephone consultations. In terms of medical appointments, if members cannot reach their primary care provider during an emergency, Health Net provides no-cost telehealth services. Instructions for these appointments can be found on the back of their Health Net ID card or HealthNet.com after registration and sign-in. Healthcare providers like doctors and nurse practitioners can call Health Net at 1-800-641-7761 for assistance.

Centene Corporation (NYSE:CNC) is a healthcare enterprise that provides programs and services to under-insured and uninsured families, and commercial organizations in the US.

6. Schlumberger Limited (NYSE:SLB)

Number of Hedge Fund Holders: 68

Average Upside Potential as of June 24: 37.31%

Schlumberger Limited (NYSE:SLB) is one of the best S&P 500 stocks with huge upside potential. On June 16, Schlumberger unveiled Sequestri, which is a comprehensive portfolio of carbon storage solutions. The new offering aims to accelerate industrial decarbonization globally by providing full-chain carbon capture and storage/CCS capabilities, from the point of capture to safe and permanent underground storage.

The Sequestri portfolio is designed as an end-to-end framework for long-term carbon storage and integrates tailored hardware and digital workflows. Using over 25 years of Schlumberger’s CCS experience, the technology suite addresses critical economic and integrity concerns that often hinder the viability of CCS projects. At its core, Sequestri is powered by interconnected digital technologies and services for carbon storage that provide a robust foundation for analysis and prediction.

Additionally, the portfolio includes specialized hardware engineered for CCS applications, such as subsurface safety valves, measurement instruments, and CO2-resistant cement systems like SLB’s EverCRETE. The launch follows the recent introduction of Electris, which is Schlumberger’s digitally enabled electric well completions portfolio for reducing costs and enhancing well performance.

Schlumberger Limited (NYSE:SLB) provides technology for the energy industry worldwide. It has four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems.

5. Omnicom Group Inc. (NYSE:OMC)

Number of Hedge Fund Holders: 44

Average Upside Potential as of June 24: 37.9%

Omnicom Group Inc. (NYSE:OMC) is one of the best S&P 500 stocks with huge upside potential. On June 24, Omnicom Media Group/OMG, which is the media services division of Omnicom Group, concluded the 2025 Cannes Lions International Festival of Creativity as the most awarded media holding company. The group garnered 83 Lions, which included 15 golds and two prestigious Grand Prixes.

Beyond the awards, OMG made daily headlines at the festival by announcing 8 first-mover partnerships with leading networks, platforms, and retailers for Omnicom clients to use live content, conversations, and commerce for brand growth. The partnerships include programmatic bidding on high-attention moments during live sports on Disney & Sky Sports, and accessing Walmart audiences to connect influencers with customer purchases on Walmart’s commerce & livestream platforms.

OMG comprises full-service media agencies OMD, PHD, and Hearts & Science. Powered by the Omni marketing orchestration system, OMG aims to deliver transformative experiences for consumers, clients, and talent. The group employs over 26,000 people globally and serves leading brands worldwide.

Omnicom Group Inc. (NYSE:OMC) offers advertising, marketing, and corporate communications services.

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

Number of Hedge Fund Holders: 101

Average Upside Potential as of June 24: 38.49%

Thermo Fisher Scientific Inc. (NYSE:TMO) is one of the best S&P 500 stocks with huge upside potential. On June 23, Thermo Fisher Scientific announced that it had been awarded a 5-year contract worth $94.5 million by the US Department of Defense (DoD). Under this contract, Thermo Fisher Scientific will supply the US Navy with a next-gen dosimetry system, coupled with updated radiation health and database management software.

The US Navy operates the world’s most technologically advanced naval fleet and is the largest global user of dosimetry systems for defense purposes. Thermo Fisher Scientific will provide Navy Occupational Dosimetry System/NODS devices and Navy Radiation Exposure Management System/NAVREMS software.

These tools are manufactured in Oakwood Village, Ohio, and are crucial for monitoring and managing occupational radiation exposure among Naval personnel. This includes those associated with nuclear-powered Navy assets, nuclear-capable shipyards, various research sites, laboratories, and naval medical facilities. The advanced digital dosimetry devices are designed with integrated beta, gamma, and neutron detection capabilities, which ensures precise and reliable radiation exposure monitoring in demanding environments.

Thermo Fisher Scientific Inc. (NYSE:TMO) provides life sciences solutions, analytical instruments, specialty diagnostics, laboratory products, and biopharma services internationally.

3. LKQ Corporation (NASDAQ:LKQ)

Number of Hedge Fund Holders: 33

Average Upside Potential as of June 24: 39.44%

LKQ Corporation (NASDAQ:LKQ) is one of the best S&P 500 stocks with huge upside potential. Towards the end of May, LKQ Corporation released its 2024 Sustainability Report, which was titled “Doing Our Part For a More Sustainable World.” The report emphasized LKQ’s commitment to profitable growth through efficient, responsible, and ethical business practices.

The report details LKQ’s 3-pillar strategy: profitably delivering sustainable solutions, people-led performance, and strong governance & ethical practices. The company’s foundation in the circular economy involves reimagining how the vehicle industry can operate responsibly while delivering profitable growth, serving as the “north star” for its “Charting Our Future” strategy, which was announced in September 2024.

In 2024, the company processed 735,000 vehicles and successfully sold ~12 million individual salvaged parts back into the circular economy. Furthermore, LKQ reduced its Scope 1 and Scope 2 greenhouse gas emissions across its global operations by 16% relative to revenue, compared to a 2022 baseline. The reduction was achieved through increased use of renewable energy, fleet fuel initiatives, energy efficiency upgrades, network optimization, and business integration projects.

LKQ Corporation (NASDAQ:LKQ) distributes replacement parts, components, and systems used in the repair and maintenance of vehicles and specialty vehicle aftermarket products and accessories.

2. Regeneron Pharmaceuticals Inc. (NASDAQ:REGN)

Number of Hedge Fund Holders: 66

Average Upside Potential as of June 24: 43.60%

Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) is one of the best S&P 500 stocks with huge upside potential. On June 24, Regeneron Pharmaceuticals announced a new and pioneering donation matching program to support Good Days, which is an independent national non-profit charitable organization. The initiative is designed to support Good Days’ Retinal Vascular and Neovascular Disease Fund.

Through this program, Regeneron has committed to matching donations at a one-to-one rate, up to a total of $200 million, for the remainder of the 2025 calendar year. The primary goal is to enable more patients to afford essential medicines that help protect their vision. The Retinal Vascular and Neovascular Disease Fund provides copay assistance to US patients who meet specific criteria determined by Good Days.

The donations are not intended to incentivize the use of any particular product, and copay support is granted without regard to the specific medicine prescribed, as long as it is FDA-approved. Regeneron also facilitates access to medicines through various other initiatives, such as product support & Managed Access Programs, patient assistance programs, and collaborations with experienced stakeholders.

Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide.

1. Caesars Entertainment (NASDAQ:CZR)

Number of Hedge Fund Holders: 63

Average Upside Potential as of June 24: 51.98%

Caesars Entertainment (NASDAQ:CZR) is one of the best S&P 500 stocks with huge upside potential. On June 24, Caesars Palace Times Square, which is a collaborative bid from SL Green, Caesars Entertainment, and Roc Nation, announced a $5 million commitment to support Callen-Lorde Community Health Center.

The pledge is contingent upon the acquisition of 1 of 3 downstate gaming licenses for their proposed gaming and entertainment destination at 1515 Broadway in Times Square.The $5 million commitment is divided into two parts: $2 million will support Callen-Lorde’s existing services in Chelsea, and $3 million is designated for a new Callen-Lorde Center for Excellence in Sexual Health in Hell’s Kitchen.

The new 20,000-square-foot facility aims to expand access to rapid, high-quality HIV and STI care and address New York City’s surge in sexually transmitted infections, which have reached 30-year highs. This increase is partly explained by expanded testing post-COVID, but it also highlights the persistent gaps in timely diagnosis and treatment among LGBTQ+ New Yorkers and BIPOC communities.

Caesars Entertainment (NASDAQ:CZR) is a gaming and hospitality company that owns, leases, brands, or manages domestic properties in 18 states with slot machines, video lottery terminals, e-tables, hotel rooms, as well as table games.

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Disclosure: None.