Top 5 Stock Picks of Billionaire Ray Dalio

2. PepsiCo, Inc. (NASDAQ:PEP)

Number of Hedge Fund Holders: 61    

PepsiCo, Inc. (NASDAQ:PEP) is a New York-based food and beverage company. Regulatory filings indicate that Bridgewater Associates owned over 3 million shares of the company at the end of December 2021 worth $530 million, representing 3.08% of the portfolio. The investment firm increased its stake in the firm by 14% during the fourth quarter. 

PepsiCo, Inc. (NASDAQ:PEP) is a top food stock on Wall Street. At the end of the third quarter of 2021, 61 hedge funds in the database of Insider Monkey held stakes worth $4 billion in PepsiCo, Inc. (NASDAQ:PEP), compared to 66 in the previous quarter worth $5 billion.