7 top stocks that can thrive whether Donald Trump or Kamala Harris wins this fall

However, strategists at Oppenheimer Research believe those who ignore the election — and the implications that electing Trump or Harris may bring — do so at their peril.

Like “Big Short” investor Steve Eisman and investment firms including Bernstein, Oppenheimer’s top minds recognize that the outcome of this fall’s elections could be a crucial catalyst for some sectors and a crippling headwind for others, even if the broader market is fine either way.

“This playbook is intended to help investors navigate trading dynamics around the elections,” Oppenheimer strategists wrote in a September 9 note. “Over the longer term, we expect stocks’ behavior will more likely be a function of broader market/industry-level trends and individual company performance.”

7 stocks that can succeed, no matter who wins this fall

Anyone antsy about this fall’s elections should target two types of stocks that Oppenheimer researchers believe will hold up no matter what, provided that economic growth continues: business development companies, and semiconductor firms.

So-called BDCs, which invest in the debt or equity of smaller companies, are more reliant on a healthy economy and labor market than the particular policies of Republicans or Democrats. Any party that can keep this economic expansion going would be celebrated by these firms.

“We don’t think the BDCs would benefit from a sweep by either party as BDCs try to diversify their portfolio in order to lower risk,” Oppenheimer strategists wrote. “BDCs focus on US companies, so policies that promote domestic growth would benefit the group.”

Oppenheimer highlighted a quintet of companies with a track record of minimal credit losses and solid returns on equity, given that credit risk is often the chief downfall of BDCs.

The firm also spotlighted a pair of chipmakers, given heightened interest in artificial intelligence.

Democrats and Republicans seem to have similar policies regarding China, as they’ve taken steps to limit that country’s access to high-end US chips due to national security concerns. Therefore, a victory by either party may have a similar outcome for this industry.

“We expect US foreign policy toward China to become more restrictive over the next four years, irrespective of who wins the election,” Oppenheimer strategists wrote. “Related, the Biden administration passed the CHIPS Act in 2022 to provide $53 billion in funding to assist in the development and manufacturing of domestic semiconductors. Both parties are likely to support continued investments in a domestic semiconductor ecosystem.”

Below are seven stocks with an outperform rating from Oppenheimer analysts and can survive regardless of whether Republicans or Democrats emerge victorious this fall. Along with each company is its ticker, market capitalization, group, price target, upside, and thesis.