Billionaire Ray Dalio’s Bridgewater Associates 13F Portfolio: Top 5 Stock Picks

2. Johnson & Johnson (NYSE:JNJ)

Number of Hedge Fund Holders: 83

Ray Dalio’s Bridgewater Associates’ Holdings: $769,836,000

Percentage of Ray Dalio’s Bridgewater Associates’ Portfolio: 3.89%

Johnson & Johnson (NYSE:JNJ) is a New Brunswick, New Jersey-based healthcare giant with a presence in the consumer goods, pharmaceuticals, and medical devices segment.

Johnson & Johnson (NYSE:JNJ) is currently focused on spinning off its consumer healthcare division, which will be called Kenvue. This will aid Johnson & Johnson (NYSE:JNJ) to entirely focus on the pharmaceutical and medical divisions of the company. Furthermore, Johnson & Johnson (NYSE:JNJ) will be able to offload the risk related to the lawsuits against its baby powder to a separate entity. The company has further strengthened its pharmaceutical division following the $16.6 billion acquisition of Abiomed, Inc. (NASDAQ:ABMD). The strength of Abiomed lies in technologies related to the treatment of diseases of the heart, lungs, and kidneys. Johnson & Johnson’s (NYSE:JNJ) forward dividend yield stands at 2.67% as of November 14.

Here’s what Distillate Capital Partners LLC said about Johnson & Johnson (NYSE:JNJ) in its Q2 2022 investor letter:

“Johnson & Johnson was among the 2 largest trims at around 1% each. Each stock was up 1% in the quarter compared to the 16% price decline for the S&P 500 and the positions were reduced as the valuations became somewhat less appealing, though still attractive enough to warrant inclusion.”