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.
7. Philip Morris International Inc. (NYSE:PM)
Upside Potential: 19.40%
Number of Hedge Fund Holders: 111
Share Price Return Between July 1 and October 15: -11.27%
Fisher Asset Management holds $2.82 million worth of Philip Morris International Inc. (NYSE:PM) shares, helping it secure a place on our list of billionaire Ken Fisher’s 10 consumer stock picks with the highest upside potential.
To support the continuation of marketing its IQOS heated tobacco system as a Modified Risk Tobacco Product (MRTP), Philip Morris International Inc. (NYSE:PM) provided evidence to the FDA’s Tobacco Products Scientific Advisory Committee (TPSAC), as reported by Business Wire on October 8, 2025.
Furthermore, the FDA confirmed that the evidence supports the modified exposure claim, reaffirming that switching completely from cigarettes to IQOS results in a significant reduction in exposure to harmful chemicals. The session also brought Philip Morris International Inc. (NYSE:PM)’s IQOS ILUMA under review, which is the company’s next-generation model that aims to expand smoke-free alternatives among adult smokers.
Meanwhile, a month earlier, Citi placed Philip Morris International Inc. (NYSE:PM) on a “downside 90-day catalyst watch” due to ZYN destocking pressures and slower growth. However, the investment firm’s “Buy” rating with a $200 price target reflects investor confidence in the company’s smoke-free transformation.
Philip Morris International Inc. (NYSE:PM) is a leading tobacco and nicotine company. It is included in Ken Fisher’s Stock Portfolio.
6. NIKE, Inc. (NYSE:NKE)
Upside Potential: 21.63%
Number of Hedge Fund Holders: 81
Share Price Return Between July 1 and October 15: -6.74%
Fisher Asset Management holds $35.00 million worth of NIKE, Inc. (NYSE:NKE) 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, KeyBanc Capital Markets upgraded NIKE, Inc. (NYSE:NKE) to “Overweight.”
This upgrade reflects NIKE, Inc. (NYSE:NKE)’s fiscal Q1 2026 earnings beat, which demonstrated early progress in the company’s “Win Now” turnaround plan. For the quarter, Nike recorded a 1.1% year-over-year increase in revenue, taking it to $11.7 billion, alongside EPS of $0.49, higher than $0.27 estimates. The quarter marked a 20% surge in running sales, with North American revenue climbing 4%, and wholesale sales growing 7%. As such, the company recorded improved execution and cleaner inventory levels.
The investment firm also highlighted the company’s stronger order books, a revitalized innovation pipeline, and a reset product strategy. These improvements marked the company’s stabilization, KeyBanc noted. Furthermore, the company’s new tiered release structure was cited, which aims to strengthen engagement among younger consumers. Looking ahead, the research firm expects margins to recover despite tariff and digital sales headwinds.
NIKE, Inc. (NYSE:NKE) is focused on design, development, and marketing of athletic and casual footwear, apparel, equipment, accessories, and services for all genders and ages.
5. Deckers Outdoor Corporation (NYSE:DECK)
Upside Potential: 31.45%
Number of Hedge Fund Holders: 59
Share Price Return Between July 1 and October 15: -8.50%
Fisher Asset Management holds $755,502 worth of Deckers Outdoor Corporation (NYSE:DECK) 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, UBS reduced its price target on Deckers Outdoor Corporation (NYSE:DECK) from $158 to $157, keeping a “Buy” rating.
The price reduction reflects the company’s slower-than-expected improvement in the HOKA brand’s U.S. direct-to-consumer growth. Furthermore, modest quarter-over-quarter progress has been noted in sales trends. Yet, broader demand for the brand remains steady across international markets.
Looking ahead, analysts continue to speculate whether HOKA’s domestic growth can recover or not with a mid-to-high single-digit territory in the coming quarter. Yet, Deckers Outdoor Corporation (NYSE:DECK)’s premium brands, UGG and Teva, continue to show strong performance, supporting the overall revenue stability.
Deckers Outdoor Corporation (NYSE:DECK) is focused on design, marketing, and distribution of premium footwear, apparel, and accessories. It is included in Ken Fisher’s Stock Portfolio.
4. Comcast Corporation (NASDAQ:CMCSA)
Upside Potential: 31.53%
Number of Hedge Fund Holders: 82
Share Price Return Between July 1 and October 15: -18.19%
Fisher Asset Management holds $2.16 million worth of Comcast Corporation (NASDAQ:CMCSA) shares, helping it secure a place on our list of billionaire Ken Fisher’s 10 consumer stock picks with highest upside potential.
On October 15, 2025, Benchmark reaffirmed its “Buy” rating on Comcast Corporation (NASDAQ:CMCSA) with a $48 price target.
The investment firm’s bullish stance on Comcast Corporation (NASDAQ:CMCSA) reflects the view that the stock is significantly undervalued, supported by an 18% free cash flow yield. Expectations are in place for improvements in the company’s Connectivity & Platforms segment due to advancements in Xfinity’s broadband migration and expansion of mobile penetration through new offers.
Meanwhile, Benchmark expects significant improvements in the company’s Content & Experiences segment through the Epic Universe theme park and a new Las Vegas attraction. Furthermore, the investment firm sees the company aiming to tilt its portfolio toward high-growth businesses, with the Versant spin-off and the Sky Germany sale progressing.
Comcast Corporation (NASDAQ:CMCSA), a global media and technology leader, offers broadband, streaming, and entertainment services worldwide. It is included in Ken Fisher’s Stock Portfolio.
3. Brinker International, Inc. (NYSE:EAT)
Upside Potential: 34.30%
Number of Hedge Fund Holders: 52
Share Price Return Between July 1 and October 15: -28.91%
Fisher Asset Management holds $43.97 million worth of Brinker International, Inc. (NYSE:EAT) shares, helping it secure a place on our list of billionaire Ken Fisher’s 10 consumer stock picks with highest upside potential.
On October 14, 2025, Citi analyst Jon Tower reaffirmed a “Hold” rating on Brinker International, Inc. (NYSE:EAT) with a $156 price target.
The retained stance reflects a balanced outlook for Brinker International, Inc. (NYSE:EAT). While the company is expected to demonstrate solid performance in the short term, including share gains, margin improvements, and an anticipated EPS beat in the upcoming quarter, the analyst expects broader industry softness to result in a slower start in the following quarter.
Furthermore, the analyst shed light on the company’s share performance in the last three months, which lagged behind that of its peers, reinforcing his cautious stance. Brinker International, Inc. (NYSE:EAT)’s share price has experienced a 20.89% decline in the past three months. Meanwhile, the restaurant industry has experienced a 6.6% decline in the same period. Both the company and the industry trail behind the S&P 500’s 5.8% return in the last three months.
While Brinker International, Inc. (NYSE:EAT)’s reaffirmed guidance could push the share price upward in the short term, ongoing reinvestment needs and consumer demand uncertainties reinforce the analyst’s “Hold” rating.
Brinker International, Inc. (NYSE:EAT) runs casual dining restaurants, known for its flagship Chili’s Grill & Bar and Italian-inspired subsidiary Maggiano’s Little Italy. It is included in Ken Fisher’s Stock Portfolio.
2. MercadoLibre, Inc. (NASDAQ:MELI)
Upside Potential: 40.84%
Number of Hedge Fund Holders: 116
Share Price Return between July 1 and October 15: -18.11%
Fisher Asset Management holds $202.09 million worth of MercadoLibre, Inc. (NASDAQ:MELI) shares, helping it secure a place on our list of billionaire Ken Fisher’s 10 consumer stock picks with highest upside potential.
On October 3, 2025, Morgan Stanley reaffirmed its “Buy” rating on MercadoLibre, Inc. (NASDAQ:MELI) with a $2,850 price target.
The investment firm’s bullish stance stems from the company’s strong market position and logistics advantage in Latin America. Specifically, MercadoLibre, Inc. (NASDAQ:MELI)’s roughly 40% e-commerce market share in Brazil was highlighted, which is significantly higher than Amazon’s 10% share. This reflects the company’s dominant presence despite macroeconomic headwinds and rising competition.
Furthermore, the investment firm cited MercadoLibre, Inc. (NASDAQ:MELI)’s fulfillment centers and integrated financial technology ecosystem, which continue to strengthen its competitive edge. The company’s scale, seller retention, and ability to innovate in quick commerce and AI integration were cited as key growth drivers.
MercadoLibre, Inc. (NASDAQ:MELI) offers marketplace, payments, and logistics solutions through its leading e-commerce and fintech platforms, which it operates across Brazil, Mexico, and Argentina. It is included in Ken Fisher’s Stock Portfolio.
1. MGM Resorts International (NYSE:MGM)
Upside Potential: 46.35%
Number of Hedge Fund Holders: 58
Share Price Return Between July 1 and October 15: -5.96%
Fisher Asset Management holds $4.10 million worth of MGM Resorts International (NYSE:MGM) shares, helping it secure a place on our list of billionaire Ken Fisher’s 10 consumer stock picks with highest upside potential.
On October 16, 2025, in a $546 million cash deal, MGM Resorts International (NYSE:MGM) announced the sale of the operations of MGM Northfield Park to private equity funds managed by Clairvest Group Inc.
Through this deal, which is expected to close in the first half of 2026, MGM Resorts International (NYSE:MGM) will receive approximately $420 million in net proceeds after taxes and costs, reducing its annual rent obligations by $54 million under its lease with VICI. Furthermore, the company expects to solidify its focus on expanding its digital and international businesses and to strengthen its domestic integrated resorts.
This move highlights MGM Resorts International (NYSE:MGM)’s disciplined financial strategy and ability to generate premium valuations on asset sales.
Operating through its Las Vegas Strip Resorts, Regional Operations, MGM China, and MGM Digital, MGM Resorts International (NYSE:MGM) runs a global gaming and entertainment business. It is included in Ken Fisher’s Stock Portfolio.
While we acknowledge the potential of MGM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MGM and that has 100x upside potential, check out our report about this cheapest AI stock.
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