Top 5 Stocks Billionaire Ray Dalio Just Bought

Dalio took a slightly larger position in The Coca-Cola Company (NYSE:KO) during Q3 than in rival Pepsi, building a KO position valued at $100.28 million on September 30 which contained 2.03 million Coca-Cola shares. One of the 5 Food and Service Industry Stocks That Thames Capital Has Been Gorging On, Coca-Cola shares were owned by 59 of the hedge funds tracked by Insider Monkey on June 30, making it slightly more popular than Pepsi.

While Coca-Cola had its market share eaten into (or rather, drank up) by Pepsi, it does maintain several advantages over its bitter rival, including far more free cash flow generation ($5.5 billion to $4.1 billion in Q3, though the gap is closing). Coca-Cola has also been effective at cutting costs during the pandemic, which lead to a 2.3 percentage point rise in adjusted operating profit during Q3, to 30.4%.