Tudor Investment Corp Et Al Holdings Analysis
Paul Tudor Jones’s Tudor Investment Corp Et Al just filed its quarterly 13F. Dated 25/12/2015, the 13f filing reveals the hedge fund has a portfolio value of $2.96 billion, representing a decrease of $463.90 million from the previous quarter when it was $3.42 billion. Note: This filling reprents only about 13.51% of Tudor Investment Corp Et Al’s assets, which which are listed in the US.
|Previous Mkt Value:||$3,422,016,000|
|Chg Mkt Value %:||-13.56 %|
|Turnover %:||52.22 %|
|Top 10 Holdings %:||31.31%|
Based on $21.89 billion in assets under management, Tudor Investment Corp Et Al’s equity exposure represents only 13.51% of assets. Please also note that we can’t know the Tudor Investment Corp Et Al’s net exposure and shorts.
In this quarter, Paul Tudor Jones’s Tudor Investment Corp Et Al opened positions in Precision Castparts Corp (PCP) for $40.50 million, Markit Ltd (MRKT) for $29.73 million, Alibaba Group Holding (BABA) for $24.47 million, Alphabet Inc for $24.43 million and Cytec Industries Inc (CYT) for $17.90 million. These were the 5 biggest new positions. In total the hedge fund bought 463 new stocks.
|Top 5 New Buys|
|Precision Castparts Corp.||1.37%|
|Alibaba Group Holding||0.83%|
|Cytec Industries Inc||0.61%|
|13F Sector Allocation|
|Information Technology||22 %|
|Consumer Discretionary||10 %|
As shown in this 13f filing the hedge fund increased its stakes in Spdr S&P 500 Etf Trust (Call) (SPY) by 26% to $213.52 million, Spdr S&P 500 Etf Trust (Put) (SPY) by 58% to $267.69 million, Ncr Corporation (NCR) by 106% to $41.45 million, Ppg Industries Incorporated (PPG) by 14% to $20.28 million and Ebay Incorporated (EBAY) by 8% to $9.53 million. Tudor Investment Corp Et Al also acquired smaller stakes in W.R. Grace & Company (GRA) by 30.00% to $12.10 million, Tyson Foods Inc (TSN) by 47.13% to $12.92 million and Transunion by 231.20% to $25.24 million. Building positions gradually is normal for many investors.
Paul Tudor Jones’s fund disposed its stakes in Ishares Iboxx High Yield Corporate Bond Etf (HYG), Ishares Russell 2000 Etf (Put) (IWM), Directv (DTV), Ishares Iboxx Investment Grade Corporate Bond Etf (LQD) and Pall Corp (PLL). These securities constituted 4.25 %, 1.90 %, 1.36 %, 1.18 % and 1.16 % of the portfolio, respectively. We can only speculate about the reasons for the dumping but we believe it has to do with either value, momentum or a better place for Tudor Investment Corp Et Al’s capital.
The fund also decreased its postitons in Facebook Inc (FB) by -4.03%, Broadcom Corporation (BRCM) by -8.71%, Time Warner Cable (TWC) by -6.44%, Bard (C.R.) Incorporated (BCR) by -60.24% and Darden Restaurants Inc (DRI) by -84.11%.
Spdr S&P 500 Etf Trust (Put) (SPY), Spdr S&P 500 Etf Trust (Call) (SPY) and Facebook Inc (FB) made up the majority of Tudor Investment Corp Et Al’s total US long portfolio in this quarter. These positions were top 3 and constitute 22.95% of Tudor Investment Corp Et Al’s US-listed securities. The top 10 positions make approximately 31.31% of the fund’s portfolio.
The image above provides an overview of Tudor Investment Corp Et Al’s top 10 US-listed equities in this quarter.
13F Sector Weights
Tudor Investment Corp Et Al increased the industrials sector from 6 % to 8 %. According to the 13f filing, the active investment manager also has securities for 27 % in the finance sector. The materials sector is 7 % of Tudor Investment Corp Et Al’s 13F reported securities. The fund decreased the Health Care, Information Technology and Consumer Discretionary sector holdings by 6 %, 28 % and 38 %, respectively.
So these are Q3 2015 fund’s sector weights now: finance 27 % for $798.69 million, information technology 22 % for $650.79 million, consumer discretionary 10 % for $295.81 million, industrials 8 % for $236.65 million, materials 7 % for $207.07 million, health care 6 % for $177.49 million, transports 3 % for $88.74 million, energy 3 % for $88.74 million, consumer staples 3 % for $88.74 million and utilities & telecommunications 2 % for $59.16 million.
Important Position Changes
Top 10 Q3 2015 New Positions: Precision Castparts Corp (PCP), Markit Ltd (MRKT), Alibaba Group Holding (BABA), Alphabet Inc, Cytec Industries Inc (CYT), Purefunds Ise Cyber Security (Call), Ishares Us Real Estate Etf (IYR), Priceline Group Inc/The (PCLN), Ultimate Software Group Inc (ULTI) and Procter & Gamble Company (Call) (PG).
Top 10 Q3 2015 Sold Out Completely: Ishares Iboxx High Yield Corporate Bond Etf (HYG), Ishares Russell 2000 Etf (Put) (IWM), Directv (DTV), Ishares Iboxx Investment Grade Corporate Bond Etf (LQD), Pall Corp (PLL), Catamaran Corp (CTRX), Omnicare Inc (OCR), Ann Inc (ANN), Hospira Inc (HSP) and Mallinckrodt Plc (MNK).
Tudor Investment Corp Et Al – website
13F Filing Link: 000095012315012208
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