Bridgewater Associates was founded in 1975 and has over $223 billion in assets under management, making it one of the world’s largest hedge funds. Ray Dalio is the founder of Bridgewater Associates and recently stepped down from his role as one of three co-chief investment officers at Bridgewater.
During the first half of 2022, Bridgewater saw market gains of 32%, benefiting from increased volatility. Bloomberg notes that the hedge fund generated an 8% return in 2021, after losing 12.6% in 2020.
During the third quarter, Bridgewater decreased the number of stocks held in the hedge fund from 985 to 866 stocks, with its top two positions being Procter & Gamble (NYSE:PG) and Johnson & Johnson (NYSE:JNJ), respectively. About a year ago on CNBC’s ‘Squawk Box’ Dalio explained that trying to time when to get in and out of the market is a “fool's journey” and “being in a safe well-balanced portfolio will reduce your risk without reducing your return.”
Check out three dividend-paying stocks Bridgewater increased its position in over the third quarter.
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PepsiCo Inc. (NASDAQ:PEP) is offering a dividend yield of 2.58% or $4.60 per share annually, making quarterly payments, with an aristocratic track record of increasing its dividends for 49 consecutive years. PepsiCo dominates the global savory snacks market and also ranks as the second-largest beverage provider in the world, owning well-known household brands including Pepsi, Quaker, Mountain Dew, Gatorade, Lay's, Cheetos, and Doritos, among others.
In the third quarter, PepsiCo saw revenues of over $21 billion up 8.8% year-over-year, and is expecting its full-year organic revenue to increase 12% (previously 10%).
During the third quarter, Dalio increased his stake in PepsiCo by 212,532 shares making it his third top position, accounting for 3.3% of Bridgewater's portfolio.
The Coca-Cola Company (NYSE:KO) is offering a dividend yield of 2.87% or $1.76 per share annually, using quarterly payments, with a dividend king track record of increasing its dividends for 59 consecutive years. The Coca-Cola Company is the world's largest nonalcoholic beverage company, with a strong portfolio of 200 brands covering key categories including carbonated soft drinks, water, sports, energy, juice, and coffee. Its brands include Coca-Cola, Sprite, Fanta, Dasani, SmartWater, Vitaminwater, and Powerade.
During the third quarter, Coca-Cola posted net revenues of $11.1 billion up 10% year-over-year, and expects to deliver full-year organic revenue growth of between 14% to 15%.
Over the course of the third quarter, Bridgewater Associates increased its stake in Coca-Cola by 646,521 shares, making it the fourth-largest position accounting for 3.3% of the portfolio.
Mondelez International Inc. (NASDAQ:MDLZ) is offering a dividend yield of 2.38% or $1.54 per share annually, through quarterly payments, with a strong track record of increasing its dividends for eight consecutive years. Mondelez International is one of the largest snack companies in the world, holding the top global position in biscuits (cookies and crackers) and second in chocolate. Its well-known brands include Oreo, Chips Ahoy, belVita, Halls, Trident, and Cadbury. The company sells its products in over 150 countries around the world.
In the third quarter, Mondelez posted net revenues of more than $7 billion up 8.1% year-over-year, and expects to deliver full year organic revenue growth north of 10% (previously 8%).
The hedge fund increased its stake in Mondelez during the third quarter by 2,310,425 shares, accounting for 1% of its portfolio.
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