Ray Dalio’s Top 5 Stock Picks in 2023

2. Johnson & Johnson (NYSE:JNJ)

Value of Bridgewater Associates’ 13F Position: $526 million

Number of Hedge Fund Shareholders: 88

Although Ray Dalio’s firm has slashed 12% of its stake in Johnson & Johnson (NYSE:JNJ) in the second quarter to 3.18 million shares, it remains the second largest stockholding in its portfolio. So far in 2023, healthcare companies have struggled due to declining sales of COVID-related products. However, JNJ continues to generate healthy revenue and earnings growth. In the second quarter, its revenue increased 6% year on year, while earnings per share increased 8.9% to $1.96. JNJ is also known for its high dividends and long dividend growth history. It is also one of the dividend aristocrats. 

At the end of the June quarter of 2023, Johnson & Johnson (NYSE:JNJ) was in 88 hedge funds, according to Insider Monkey’s database.