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Soft drinks are a staple of daily life for many people in the developed world, least of all North America. They are served seemingly everywhere, from the fanciest restaurants to fast food franchises. And, it is the very fact that they are so popular that makes them such good investments, often outperforming the market – a fact that is not lost on hedge fund managers.

The Coca-Cola Company (NYSE:KO): Of the 300-pluis hedge funds we track, 44 hedge funds were invested in KO at the end of the third quarter, up from 43 at the end of the second quarter. Total hedge fund investment in the company slid in the third quarter, moving from $16.76 billion at the end of June to $16.62 billion at the end of September. Legendary investor Warren Buffett’s Berkshire Hathaway has $13.51 billion invested in the company, a position worth 22.85% of its 13F portfolio.

Pepsico, Inc. (NYSE:PEP): There were 38 hedge funds invested in PEP at the end of the third quarter, down slightly from 41 at the end of the second quarter. Total hedge fund investment in the company also slipped, moving from $1.66 billion at the end of June to $1.58 billion at the end of September. Boykin Curry’s Eagle Capital Management had $338.14 million in the company at the end of September after upping its stake in the company by 4% in the third quarter.

Hansen Natural Corporation (HANS): Total hedge fund investment in HANS increased from $299.31 million spread across 21 funds at the end of the second quarter to $332.95 million spread across 23 funds at the end of the third quarter. The company was popular with John Lykouretzos’ Hoplite Capital Management, Jim Simons’ Renaissance Technologies and Patrick McCormack’s Tiger Consumer Management during the third quarter.

Coca-Cola Enterprises, Inc. (NYSE:CCE): The total number of hedge funds invested in CCE decreased from 27 at the end of the second quarter to 22 at the end of the third quarter, but the change in quantity didn’t affect total hedge fund investment in the company. In fact, total hedge funds invested in CCE increased from $779.66 million at the end of June to $780.37 million at the end of September. CCE was a favorite of James Crichton and Adam Weiss’ Scout Capital Management, Alan Fournier’s Pennant Capital Management and Barry Rosenstein’s Jana Partners during the third quarter.

Cott Corporation (NYSE:COT): The number of hedge funds invested in COT fell from 21 at the end of the second quarter to 14 at the end of the third quarter. Total hedge fund investment in the company also decreased, moving from $249.03 million at the end of June to $181.87 million at the end of September. The decrease could be worrying but the hedge fund managers with the largest holdings in the company didn’t walk away in the third quarter. Roberto Mignone’s Bridger Management had $44.84 million invested in COT after upping its holding in the company by 3% in the third quarter.

Dr. Pepper Snapple Group, Inc. (NYSE:DPS): Hedge fund investment in DPS also dipped slightly in the third quarter, moving from $160.26 million spread across 15 funds at the end of June to $145.95 million over 13 funds at the end of September. Both Cliff Asness’ AQR Capital Management and Ken Griffin’s Citadel Investment Group upped their holdings in DPS during the third quarter.

Source: 6 Soft Drink Companies On The Top Of Hedge Funds' Lists