Billionaire Ken Fisher’s 15 Best Stocks for 2025

In this article we discuss Billionaire Ken Fisher’s 15 Best Stocks for 2025.

Ken Fisher is the founder of Fisher Asset Managementa financial advisor he founded nearly five decades ago. The company manages over $240 billion from more than 150,000 private investors.

Fisher said: “I’ve hit the money three times in my career; 1987 before the crash, before the 1990 bear market and in the early 2000s before the dot-com crash. But I missed the 2007-2009 bear market because I didn’t believe, and don’t believe, that mortgages could cause what they’re blamed for.”

In addition to focusing on long-term investments, Fisher also believes in diversifying investments to reduce risk. Fisher Asset Management is highly diversified and has a portfolio value of approximately $244 billion. While technology stocks make up 31.8% of the portfolio, the independent asset management firm is also heavily invested in the services sector with 14.6% of the portfolio. Other significant holdings are in the areas of financial services, healthcare and basic materials.

Last year, Fisher’s company returned 32.18%, largely because it invested heavily in technology stocks, particularly those that benefited from the AI ​​boom. While other managers sell technology stocks based on high valuations, Fisher’s firm is buying more, particularly from companies that make AI chips.

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Although the overall market is at an all-time high, Fisher says there is no reason to worry. He believes that just because the market is currently high does not predict the future. He expects the market to continue rising as long as the economy and other key factors improve.

“Bulls markets continually make new highs once they recover from the previous bear market and reach their first all-time high in this new bull market. They do this over and over again, and eventually there will be another bear market and then another bull market. “Bulls markets are not always significantly larger or longer than bear markets,” said Ken Fisher.

Ken Fisher’s portfolio is heavily invested in the Magnificent Seven stocks because he believes these stocks are well positioned to continue to outperform the overall market. According to Fisher, growth stocks will continue to outperform value stocks given the prevailing economic climate.

“If you think the market is going up, you should expect the Magnificent Seven to continue to do well. Will they inevitably be better than anything else? No, but they never really did that. The fact is that as a group they did better than most groups you could find. I think that will continue to be the case because I am optimistic about the future of the market as a whole,” Fisher said in a video interview.

Given this positive economic outlook, let’s examine Ken Fisher’s top 15 stock picks for 2025.

Ken Fisher of Fisher Asset Management

Our methodology

We went through Fisher Asset Management’s portfolio to find Ken Fisher’s top 15 stock picks for 2025. We focused on its largest investments and ranked the stocks from smallest to largest based on the company’s holdings at the end of Q3 2024.

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Billionaire Ken Fisher’s 15 Best Stocks for 2025

15. Exxon Mobil Corporation (NYSE:XOM)

Fisher Asset Management’s stake: $3.42 billion

Number of hedge funds holding shares: 86

Exxon Mobil Corporation (NYSE:XOM) is one of the world’s largest oil and gas companies. The company operates in 60 countries and works in areas such as exploration, production, refining, manufacturing and chemicals. The stock is up more than 15% for the year even as oil prices have fallen below $70 a barrel.

Exxon Mobil Corporation’s (NYSE:XOM) competitive advantage comes from its diversified, world-class portfolio of assets. The extensive business portfolio was the catalyst for solid results in the third quarter. As of November 1, 2024, the company posted industry-leading profits of $8.6 billion. Cash flow from operating activities was $17.6 billion and free cash flow was $11.3 billion. Exxon Mobil Corporation (NYSE:XOM) is one of the companies in focus in the energy sector ahead of Donald Trump’s second term. Trump appears to be friendlier to traditional oil and gas production, which would benefit oil producers and natural gas and oil service providers.

The company’s new efforts to reduce carbon dioxide emissions should also boost earnings. By 2027, the oil giant plans to invest around $20 billion in various projects such as carbon capture and storage, biofuels, lithium and hydrogen. By 2050, Exxon Mobil Corporation (NYSE:XOM) expects its low-carbon businesses to be a $6 trillion market, with long-term revenue potential of hundreds of billions of dollars.

14. Caterpillar Inc. (NYSE:CAT)

Fisher Asset Management’s stake: $3.50 billion

Number of hedge funds holding shares: 50

Caterpillar Inc. (NYSE:CAT) makes locomotives, propulsion solutions and heavy machinery. It is the largest heavy equipment manufacturer in the world. The products are sold by 160 dealers in over 2,700 locations worldwide. The stock is up more than 38% for the year, reflecting a period of robust performance from the industrial giant.

Caterpillar Inc. (NYSE:CAT) aims to strengthen its product line, integrate sustainability and lead in pricing and innovation to deliver long-term earnings growth. On November 7, 2024, Caterpillar Inc. (NYSE:CAT) announced that it has successfully tested its fully autonomous Cat® 777 truck at Luck Stone’s Bull Run plant in Virginia. This is a big step towards autonomous mining of quarries and aggregates. It also shows progress in the partnership with Luck Stone.

While the global economy was under pressure due to the high interest rate environment, Caterpillar’s core business remained robust. The company delivered solid third quarter results on October 30, 2024. Revenue was $16.78 billion, while adjusted earnings per share were $5.17.

Caterpillar Inc.’s (NYSE:CAT) capital allocation strategy demonstrates its commitment to delivering value. The company has increased dividends in each of the last 30 years, maintaining an impressive dividend streak of 91 years. The stock pays a 1.40% dividend, confirming why it’s one of billionaire Ken Fisher’s top 15 stocks for passive income in 2025.

Here’s what Diamond Hill Large Cap Strategy said about Caterpillar Inc. (NYSE:CAT) in its Q3 2024 investor letter:

“Other top contributors in the third quarter included HCA Healthcare and Caterpillar Inc. (NYSE:CAT). Heavy construction equipment manufacturer Caterpillar has performed better than its industry peers against a challenging macroeconomic backdrop and a generally weakening construction environment.”

13. JPMorgan Chase & Co. (NYSE:JPM)

Fisher Asset Management’s stake: $3.54 billion

Number of hedge funds holding shares: 105

JPMorgan Chase & Co. (NYSE:JPM) is a large financial company that offers deposit, investment and lending products. It also offers investment banking services. It operates in 100 countries and is the largest bank in the United States. It is one of Ken Fisher’s top stock picks for 2025 and benefits from strong sales and earnings.

Banks could be more constrained by relatively high interest rates. However, JPMorgan Chase & Co. (NYSE:JPM) was not adversely affected by the high interest rates that have characterized the American economy. The bank delivered better-than-expected third-quarter results on October 11, 2024. Revenue rose 6% year over year to $43.32 billion, while net interest income increased 3% to $23.5 billion, driven by the high interest rate environment.

The bank’s long-term prospects remain positive, particularly given the Republican victory in the just-concluded US elections. Republican governments have always been more business-friendly. Likewise, they are pushing for a looser regulatory environment that encourages IPO mergers and acquisitions. JPM’s investment banking unit is likely to be among the beneficiaries. Additionally, JPM is likely to benefit from Trump’s policies that encourage bank borrowing.

Carillon Tower Advisers’ Carillon Eagle Growth & Income Fund stated the following about JPMorgan Chase & Co. (NYSE:JPM) in its first quarter 2024 investor letter:

“JPMorgan Chase & Co. (NYSE:JPM) contributed positively to performance following solid financial results and positive guidance for the remainder of 2024. Additionally, increasing discussion about increasing capital market activity has likely contributed to the stock’s strong performance compared to other banks. Remember, JPMorgan has a robust capital markets business.”