Billionaire Steve Cohen Is Selling These 5 Stocks

3. PepsiCo, Inc. (NYSE:PEP)

Number of Hedge Fund Holders: 63

Billionaire Steve Cohen bought a stake in PepsiCo, Inc. (NYSE:PEP) at the beginning of 2021 and sold its entire position in the December quarter to capitalize on the share price run. Shares of PepsiCo surged more than 25% over the past 12 months amid improving financial numbers and the economic reopening. PepsiCo is also one of the best stocks to hold for the long-term given its extensive dividend growth history. 

Of the 924 hedge funds tracked by Insider Monkey that filed 13Fs for the December SEC reporting period, PepsiCo was in 63 of their portfolios as of December 31. Terry Smith’s Fundsmith LLP was among the leading stakeholders in the company.