Ray Dalio’s Top 5 Stock Picks in 2023

4. PepsiCo, Inc. (NASDAQ:PEP)

Value of Bridgewater Associates’ 13F Position: $475 million

Number of Hedge Fund Shareholders: 70

PepsiCo, Inc. (NASDAQ:PEP) is one of Ray Dalio’s Bridgewater portfolio’s largest holdings. Because of its strong brand recognition, extensive global footprints, and ability to generate sustainable growth revenue and earnings, it is one of the most dependable consumer staples companies. Its shares surged more than 55% in the past five years while the company’s dividend growth history spans over 50 years. 

In the latest quarter, the company generated organic sales growth of 13% compared to a consensus growth estimate of 10%. Moreover, its core earnings per share of $2.09 per share comfortably came ahead of the consensus estimate of $1.97. PepsiCo expects full-year organic revenue growth of 10% compared to the previous estimate of 8%, and earnings per share in constant currency to increase 12% from last year. As of the end of the second quarter, PepsiCo was in 70 hedge fund portfolios, according to data tracked by Insider Monkey. This is down slightly from 72 hedge fund positions in the previous quarter. Terry Smith’s Fundsmith LLP was the largest hedge fund investor in the company.