Top 5 Stocks Billionaire Ray Dalio Just Bought

Dalio went big on two consumer staples stocks to round out his ten biggest new stock buys of Q3, beginning with a $170.33 million position in The Procter & Gamble Company (NYSE:PG), amounting to 1.23 million shares. PG shares were in the 13F portfolios of 73 of the hedge funds tracked by Insider Monkey on June 30.

Consumer staples stocks tend to perform well even during difficult economic stretches and that’s certainly been true for Procter and Gamble. The company’s fiscal 2020 year, which wrapped up at the end of June, was a success, as PG enjoyed a 5% sales increase to $71 billion. It performed even better in the first quarter of its fiscal 2021 year, as sales rose by 9% year-over-year, with the U.S and Chinese markets posting double-digit sales increases.

As Distillate Capital noted in its Q2 investor letter, PG is one of the rare stocks that has actually been able to improve its free cash yield this year, whether based on the fund’s standard methodology, or next-twelve-months estimates.