In this piece, we will explore billionaire Ken Fisher’s 10 consumer stock picks with the highest upside potential.
Fisher Investments, founded by the billionaire investor Ken Fisher, boasts over $362 billion in assets under management as of September 30, 2025. The billionaire investor and his team leverage a long-term approach that often leans on resilient consumer stocks. Fisher leads the fund, serving as Executive Chairman and Co-Chief Investment Officer.
Within the consumer space, companies in the consumer staples sector are known for their resilience, consistent cash flows, and pricing power. However, in recent years, these companies have underperformed versus the broader market due to factors like high interest rates and persistent inflation, the latter of which has put pressure on their margins. The S&P 500 Consumer Staples Index has returned around 2.6% so far this year, which is much below the over 12.5% return for the broader S&P 500 Index. Similarly, this sector index has underperformed over the last 1, 3, and 5 years. On the other hand, the relatively more volatile consumer discretionary sector tends to perform better over the longer term. Year-to-date, the S&P 500 Consumer Discretionary Index has returned 1.7%, underperforming both the Staples index and the broader market. However, over the last year, it outperformed the S&P 500 Index with around 17.0% return, and has given a comparable return over three years.
Meanwhile, mixed sentiments were seen during the last week, with investors balancing strong corporate earnings against rising U.S.-China trade tensions. Driven by upbeat results from companies such as Morgan Stanley and Bank of America, the broader indices continued to trade healthily, at levels only modestly below their highs. Risk aversion amid tariff disputes and weakening consumer sentiment was evident as gold rose past $4,200 per ounce, according to Reuters. A good set of earnings during last week and stronger results in the upcoming weeks might highlight potential opportunities in high-quality consumer stocks, which appear poised for long-term growth as trade uncertainty eases and consumer spending stabilizes.
With this backdrop, let’s move on to our list of billionaire Ken Fisher’s 10 consumer stock picks with the highest upside potential.
Methodology
To curate our list of billionaire Ken Fisher’s 10 consumer stock picks with the highest upside potential, we scanned Fisher Asset Management’s Q2 2025 13F filings, using Insider Monkey’s 13F database. Next, we selected consumer staples and discretionary sector stocks that boast strong brand equity, pricing power, and consistent demand resilience. Lastly, we shortlisted the 10 best stocks based on potential upside and present our list below in ascending order by each stock’s upside.
We have added the performance of each stock from the end of Q2 2025 to October 15, providing readers with insight into how Fisher Asset Management’s portfolio picks have played out so far.
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 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
10. Target Corporation (NYSE:TGT)
Upside Potential: 11.67%
Number of Hedge Fund Holders: 54
Share Price Return Between July 1 and October 15: -12.46%
Fisher Asset Management holds $1,896,414 worth of Target Corporation (NYSE:TGT) shares, helping it secure a place on our list of billionaire Ken Fisher’s 10 consumer stock picks with the highest upside potential.
On October 2, 2025, Truist Securities reduced its price target on Target Corporation (NYSE:TGT) to $83 from $102, keeping a “Hold” rating.
The investment firm’s reduced target on Target Corporation (NYSE:TGT) reflects continued operational missteps that have hampered the company’s brand image and consumer engagement. Furthermore, issues in merchandising and marketing have negatively impacted store traffic and competitive positioning, Truist Securities noted.
Looking ahead, the investment firm believes that addressing these challenges will demand significant investment. It notes that a 1% price adjustment and higher SG&A spending could result in a $1.5 billion decline in operating income, or about 150 basis points of margin. While Target Corporation (NYSE:TGT)’s short-term earnings may be negatively impacted by these actions, the firm believes that comparable sales momentum could be revived in the longer term.
Target Corporation (NYSE:TGT), a U.S. general merchandise retailer, offers apparel, accessories, beauty products, food, and home essentials. It is included in Ken Fisher’s Stock Portfolio.
9. Colgate-Palmolive Company (NYSE:CL)
Upside Potential: 16.89%
Number of Hedge Fund Holders: 59
Share Price Return Between July 1 and October 15: -15.66%
Fisher Asset Management holds $1,889,726 worth of Colgate-Palmolive Company (NYSE:CL) shares, helping it secure a place on our list of billionaire Ken Fisher’s 10 consumer stock picks with the highest upside potential.
On October 8, 2025, BofA Securities reiterated its “Buy” rating on Colgate-Palmolive Company (NYSE:CL), reducing the price target from $98 to $88.
This update follows recent cautious revisions by a few other analysts. The firm’s price target revision for Colgate-Palmolive Company (NYSE:CL) is attributable to short-term pressure across the consumer staples sector amid softer household spending and elevated input costs. BofA Securities expects most of the stocks within the consumer staples sector to underperform in Q3, prompting a reduction in topline and EPS estimates across the sector.
At the same time, Colgate-Palmolive Company (NYSE:CL)’s diversified global footprint and strong portfolio, alongside its premium pet nutrition business, remain key drivers of its long-term growth.
Colgate-Palmolive Company (NYSE:CL) focuses on the manufacturing and sale of oral, personal, home care, and pet nutrition products globally.
8. Starbucks Corporation (NASDAQ:SBUX)
Upside Potential: 16.91%
Number of Hedge Fund Holders: 66
Share Price Return Between July 1 and October 15: -12.71%
Fisher Asset Management holds $1.09 billion worth of Starbucks Corporation (NASDAQ:SBUX) shares, helping it secure a place on our list of billionaire Ken Fisher’s 10 consumer stock picks with the highest upside potential.
On October 1, 2025, Starbucks Corporation (NASDAQ:SBUX)’s board approved a quarterly dividend increase from $0.61 to $0.62 per share. The dividend is payable on November 28, 2025.
With this approval, Starbucks Corporation (NASDAQ:SBUX)’s annualized dividend equals $2.48 per share, reflecting the company’s continued commitment to returning capital to shareholders while ensuring long-term growth.
This update follows the company’s $1 billion North American restructuring plan that Starbucks Corporation (NASDAQ:SBUX) announced on September 25, 2025. The plan included the closure of about 1% of company-operated stores. Furthermore, Starbucks laid off nearly 900 non-retail employees under its “Back to Starbucks” transformation. Although the coffee giant is experiencing cost pressures and a six-quarter decline in same-store sales, it remains focused on enhancing operational efficiency and improving profitability.
Operating through company-operated and licensed stores globally, Starbucks Corporation (NASDAQ:SBUX) is focused on roasting, marketing, and the sale of coffee. It is included in Ken Fisher’s Stock Portfolio.
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