5 Best Defensive Stocks to Buy Today According to Billionaire Ken Fisher

3. Adobe Inc. (NASDAQ: ADBE)

Number of Hedge Fund Holders: 107

With a beta of 0.95, the software application company Adobe Inc. (NASDAQ: ADBE) is on the list of 5 best defensive stocks to buy today according to billionaire Ken Fisher. Its shares rallied 34% in the last twelve months, thanks to double-digit revenue growth potential. At the end of the first quarter, Fisher Asset Management held 5.9 million shares of Adobe worth around $2.8 billion.

The best stock pickers were in a pessimistic mood. The number of long hedge fund bets retreated by 7 lately. Adobe was in 107 hedge funds’ portfolios at the end of March. The all-time high for this statistic is 115.