Back in 1980, one of the currently most successful investors in the world, Paul Tudor Jones II, launched his own hedge fund in Connecticut, which he named Tudor Investment Corporation. This was followed by a launch of a hedge fund holding company, Tudor Group. Over the years, his fund got bigger, and now it offers its services in New York, Palm Beach, London, Singapore, and Sydney. According to its plain brochure, the fund managed almost $39.66 billion in assets at the end of 2016. Tudor Investment is known for a fantastic track record (for example, in only three years since its inception, the fund delivered an incredible 125.9% after fees), but being the part of it comes with a higher price than most of the other hedge funds usually charge. The fund utilizes multiple investment strategies, such as quantitative equity market neutral, quantitative global macro, discretionary global macro, growth equity, and discretionary equity long/short. Paul Tudor Jones gain fantastic reputation after predicting Black Monday stock market crash (October 19, 1987) which he used to triple is money. He graduated with a Bachelor of Art/Science in Economics from the University of Virginia. In this article, we are going to look at Tudor Investment’s latest portfolio changes.
Insider Monkey’s flagship strategy identifies the best performing 100 hedge funds at the end of each quarter and invests in their consensus stock picks. This way it is always invested in the best ideas of the best performing hedge funds and is able to generate much higher returns than the market. Since its inception in May 2014, our flagship strategy generated a cumulative return of 103%, beating the S&P 500 ETF (SPY) by nearly 38 percentage points (see the details here). Our best performing hedge funds strategy also returned 26.4% year-to-date and outperformed the S&P 500 Index by nearly 12 percentage points. We take a closer look at hedge funds like Tudor Investment in order to identify their best and worst ideas.
The first quarter of 2019 left Tudor Investment with a diversified portfolio of stocks valued at $2.42 billion, down by 52.17% from $5.06 billion it was valued at the end of the last quarter of 2018. In the first three months of 2019, the fund initiated new positions in Spdr S & P 500 Etf Trust (NYSE:SPY), iShares MSCI Emerging Markets ETF (NYSE:EEM), iShares J.P. Morgan USD Emerging Markets Bond ETF (NASDAQ:EMB), The Walt Disney Company (NYSE:DIS), Takeda Pharmaceutical Company Limited (NYSE:TAK), and Worldpay, Inc. (NYSE:WP). It also raised its stakes in CSX Corporation (NASDAQ:CSX), CME Group Inc. (NASDAQ:CME), Autodesk, Inc. (NASDAQ:ADSK), and Red Hat, Inc. (NYSE:RHT).
As for the stocks Tudor Investment started to lose interest in and in which it has trimmed its stakes, those included Citigroup Inc. (NYSE:C), Yum China Holdings, Inc. (NYSE:YUMC), Robert Half International Inc. (NYSE:RHI), and Wyndham Hotels & Resorts, Inc. (NYSE:WH). And these were the stocks the fund dumped in the quarter: Tribune Media Company (NYSE:TRCO), The TJX Companies, Inc. (NYSE:TJX), Cisco Systems, Inc. (NYSE:CSCO), and Constellation Brands, Inc. (NYSE:STZ).
This article is originally published at Insider Monkey.