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Paul Tudor Jones' Top 5 Holdings as of the 1st Quarter

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GuruFocus.com
·4 min read
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According to current portfolio statistics, the top five holdings of Paul Tudor Jones (Trades, Portfolio)' Tudor Investment as of the March quarter filing are in Legg Mason Inc. (NYSE:LM), E*TRADE Financial Corp. (NASDAQ:ETFC), SPDR S&P 500 (SPY), Raytheon Technologies Corp. (NYSE:RTX) and iShares TIPS Bond (TIP).


Guru critiques long-held belief regarding companies as rekindled coronavirus fears sink markets

Jones said on Wednesday during a Just Capital event with CNBC's Andrew Ross Sorkin that if a company only had to worry about making a profit, the company would not be required to pay attention to key social factors like pay equity, gender equity and racial equity. The myopic view of just focusing on making a profit, Jones warned, "manifested itself" in a country with a "fragile social infrastructure" platform like the U.S. when the coronavirus pandemic hit.

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On Thursday, the day after the Nasdaq closed above 10,000 for the first time, the U.S. indexes each tumbled over 4% on rekindled fears of a second wave of the coronavirus around the nation. According to John Hopkins University statistics, U.S. Covid-19 cases topped 2 million this week as several states have seen upticks in virus hospitalizations.

The Dow Jones Industrial Average closed at 25,128.17, down 1,861.82 points from Wednesday's close of 26,989.99 and a net 2,444.27 points from the week-high close of 27,572.44 on Monday.

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Guru portfolio overview as of March filing

As of the first-quarter end, Tudor Investment's $1.11 billion equity portfolio contains 1,015 stocks with a turnover ratio of 38%. The top three sectors in terms of weight are health care, technology and financial services, representing 26.62%, 16.03% and 15.54% of the equity portfolio.

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Legg Mason

Tudor Investment owns 360,793 shares of Legg Mason, giving the position 1.74% weight in the equity portfolio.

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The Baltimore-based company provides investment management services for institutional and individual investors through a multiaffiliate business model. Legg Mason's affiliates include Chuck Royce (Trades, Portfolio)'s Royce & Associates.

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GuruFocus ranks Legg Mason's profitability 6 out of 10, driven primarily by a high Piotroski F-score of 7 and expanding operating margins, offsetting three-year revenue and earnings growth rates that are outperforming just over 50% of global competitors.

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Other gurus with holdings in Legg Mason include Jim Simons (Trades, Portfolio)' Renaissance Technologies, Jeremy Grantham (Trades, Portfolio)'s GMO and George Soros (Trades, Portfolio)' Soros Fund Management.

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E*TRADE

Tudor Investment owns 489,849 shares of E*TRADE, giving the position 1.51% weight in the equity portfolio.

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According to its website, the Arlington, Virginia-based company pioneered online trading for retail investors during the 1980s. GuruFocus ranks E*TRADE's financial strength 4 out of 10: Although debt ratios are outperforming over 55% of global competitors, the equity-to-asset ratio of 0.1 underperforms 87.46% of global capital market companies.

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SPDR S&P 500

Tudor Investment owns 61,008 shares of the SPDR S&P 500 exchange traded-fund, giving the holding 1.41% weight in the equity portfolio.

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According to the State Street Global Advisors website, the SPDR S&P 500 ETF seeks to provide investment results that correspond to the performance of the Standard & Poor's 500 Index. The index closed on Thursday at 3,002.10, down 188.04 points or 5.89% from the previous close of 3,190.14.

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Raytheon

Tudor Investment owns 257,600 shares of Raytheon, giving the position 1.23% weight in the equity portfolio.

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The Waltham, Massachusetts-based company operates a diversified range of aerospace and defense businesses. GuruFocus ranks Raytheon's profitability 8 out of 10 on several positive investing signs, which include a high Piotroski F-score of 7, a three-star business predictability rank and an operating margin that outperforms approximately 69% of global competitors.

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iShares TIPS Bond

Tudor Investment owns 100,000 shares of iShares TIPS Bond ETF, giving the holding 1.06% weight in the equity portfolio.

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According to the iShares website, the iShares TIPS Bond ETF seeks to track the investment results of an index composed of inflation-protected U.S. Treasury bonds. TIPS stands for "Treasury Inflation-Protected Securities."

Disclosure: The author has no positions in the stocks mentioned. The mention of guru holdings reflect information as of the March-quarter filing and do not include portfolio hedges, buys or sells the guru might have made during April to June.

Read more here:

  • Stanley Druckenmiller's Top 5 Holdings as of the 1st Quarter

  • IVA International Fund's Top 5 Buys in the 1st Quarter

  • Top 6 Buys of Bernard Horn's Polaris Fund in the 1st Quarter



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This article first appeared on GuruFocus.