Ray Dalio (Trades, Portfolio), founder of Bridgewater Associates, the world’s largest hedge fund, disclosed a slew of first-quarter buys in his portfolio update Tuesday.
At the top of the vast list were: Biogen Inc. (BIIB, Financial), DaVita Inc. (DVA, Financial), International Paper Co. (IP, Financial), Walt Disney Co. (DIS, Financial), Verizon Communications Inc. (VZ, Financial) and Campbell Soup Co. (CPB, Financial). In all, Dalio’s Bridgewater bought 258 stocks in the quarter, bringing the number listed in the public portfolio to 457. More than 83% of the long portfolio is invested in ETF, options and preferred stocks.
Connecticut-based Bridgewater manages roughly $160 billion in assets. Known for its culture of radical transparency, Bridgewater considers itself an “idea-meritocracy” where the best ideas win.
The new buys
Bridgewater purchased 77,197 shares of Biogen, giving it 0.2% portfolio weight. The stock’s price averaged $310 during the first quarter.
Biogen Inc. has a market cap of $58.25 billion; its shares were traded around $276.06 Tuesday with a P/E ratio of 19.69 and P/S ratio of 4.64. Biogen Inc. had an annual average earnings growth of 23.10% over the past 10 years. GuruFocus rated Biogen Inc. the business predictability rank of 4-star.
Bridgewater purchased 223,124 shares of DaVita, giving it 0.14% portfolio weight. Buffett’s portfolio at Berkshire Hathaway (BRK.A)(BRK.B) possesses 38.6 million shares of DaVita, as of first quarter-end. It has a 1.35% portfolio weight in Buffett’s portfolio.
DaVita Inc. has a market cap of $11.57 billion; its shares were traded around $66.29 Tuesday with a P/E ratio of 31.55 and P/S ratio of 1.25. DaVita Inc. had an annual average earnings growth of 11.10% over the past 10 years. GuruFocus rated DaVita Inc. the business predictability rank of 3.5-star.
International Paper Co. (IP, Financial)
Bridgewater purchased 226,999 shares of International Paper, giving it 0.12% portfolio weight. The stock’s first-quarter share price averaged $59.
International Paper Co. has a market cap of $22.28 billion; its shares were traded around $53.81 with a P/E ratio of 8.46 and P/S ratio of 1.03. The trailing 12-month dividend yield of International Paper Co. stocks is 3.48%. The forward dividend yield of International Paper Co. stocks is 3.50%. International Paper Co. had an annual average earnings growth of 4.30% over the past 10 years.
Walt Disney Co. (DIS, Financial)
Bridgewater purchased 112,431 shares of Walt Disney, giving it 0.11% portfolio weight. The stock’s first-quarter share price averaged $106.
Walt Disney Co. has a market cap of $153.4 billion; its shares were traded around $102.92 Tuesday with a P/E ratio of 13.69 and P/S ratio of 2.79. The trailing 12-month dividend yield of Walt Disney Co. stocks is 1.57%. The forward dividend yield of Walt Disney Co. stocks is 1.64%. Walt Disney Co had an annual average earnings growth of 11.70% over the past 10 years. GuruFocus rated Walt Disney Co. the business predictability rank of 4.5-star.
Verizon Communications Inc. (VZ, Financial)
Bridgewater purchased 232,367 shares of Verizon Communications, giving it 0.11% portfolio weight. The stock’s first-quarter share price averaged $50.
Verizon Communications Inc. has a market cap of $197.46 billion; its shares were traded around $47.79 Tuesday with a P/E ratio of 6.27 and P/S ratio of 1.52. The trailing 12-month dividend yield of Verizon Communications Inc. stocks is 4.92%. The forward dividend yield of Verizon Communications Inc stocks is 4.87%. Verizon Communications Inc. had an annual average earnings growth of 1.80% over the past 10 years.
Campbell Soup Co. (CPB, Financial)
Bridgewater purchased 250,416 shares of Campbell Soup, giving it 0.1% portfolio weight. The stock’s first-quarter share price averaged $45.
Campbell Soup Co. has a market cap of $11.86 billion; its shares were traded around $39.44 with a P/E ratio of 11.34 and P/S ratio of 1.52. The trailing 12-month dividend yield of Campbell Soup Co. stocks is 3.56%. The forward dividend yield of Campbell Soup Co. stocks is 3.50%. Campbell Soup Co. had an annual average earnings growth of 2.30% over the past 10 years. GuruFocus rated Campbell Soup Co. the business predictability rank of 3-star.
LyondellBasell Industries NV (LYB, Financial)
Bridgewater purchased 96,646 shares of LyondellBasell Industries NV, giving it 0.1% portfolio weight. The stock’s first-quarter share price averaged $112.
Lyondellbasell Industries NV has a market cap of $44.16 billion; its shares were traded around $112.17 with a P/E ratio of 8.37 and P/S ratio of 1.25. The trailing 12-month dividend yield of LyondellBasell Industries NV stocks is 3.30%. The forward dividend yield of LyondellBasell Industries NV stocks is 3.57%. LyondellBasell Industries NV had an annual average earnings growth of 12.50% over the past five years.
Toll Brothers Inc. (TOL, Financial)
Bridgewater purchased 228,431 shares of Toll Brothers, giving it 0.09% portfolio weight. The stock’s first-quarter share price averaged $47.
Toll Brothers Inc. has a market cap of $6.21 billion; its shares were traded around $40.89 Tuesday with a P/E ratio of 11.38 and P/S ratio of 1.13. The trailing 12-month dividend yield of Toll Brothers Inc stocks is 0.85%. The forward dividend yield of Toll Brothers Inc. stocks is 1.03%. Toll Brothers Inc. had an annual average earnings growth of 34.60% over the past five years.
Tyson Foods Inc. (TSN, Financial)
Bridgewater purchased 134,853 shares of Tyson Foods, giving it 0.09% portfolio weight. The stock’s first-quarter price averaged $76.
Tyson Foods Inc. has a market cap of $24.73 billion; its shares were traded around $67.28 Tuesday with a P/E ratio of 8.93 and P/S ratio of 0.61. The trailing 12-month dividend yield of Tyson Foods Inc. stocks is 1.44%. The forward dividend yield of Tyson Foods Inc stocks is 1.77%. Tyson Foods Inc had an annual average earnings growth of 17.50% over the past 10 years. GuruFocus rated Tyson Foods Inc. the business predictability rank of 4-star.
Bridgewater purchased 303,193 shares of Invesco Ltd., giving it 0.09% portfolio weight. The stock’s first-quarter price averaged $34.
Invesco Ltd. has a market cap of $11.67 billion; its shares were traded around $28.41 with a P/E ratio of 10.01 and P/S ratio of 2.15. The trailing 12-month dividend yield of Invesco Ltd. stocks is 4.11%. The forward dividend yield of Invesco Ltd. stocks is 4.20%. Invesco Ltd. had an annual average earnings growth of 8.40% over the past 10 years.
