Every quarter, many money managers have to disclose what they've bought and sold, via "13F" filings. Their latest moves can shine a bright light on smart stock picks.
Today, let's look at Tudor Investment, founded in 1980 by Paul Tudor Jones and featuring the flagship Tudor BVI fund. Jones, featured in Jack Schwager's Market Wizards: Interviews with Top Traders, was one of the few to foresee the 1987 market crash (and he made many millions on it, as well). Known for focusing on short-term trading, equity, venture capital, debt, currency, and commodity markets, he has recently been employing a more conservative strategy, resulting in some performances that have been less spectacular than usual.
The company's reportable stock portfolio totaled $2.7 billion in value as of June 30, 2012.
What does Tudor Investment’s latest quarterly 13F filing tell us? Here are a few interesting details:
New holdings include EnCana
Among holdings in which Tudor Investment increased its stake was Nuance Communications
Tudor Investment reduced its stake in lots of companies, including Heckmann
Finally, Tudor Investment unloaded several companies, such as Dendreon
Entropic, focusing on semiconductor technology for the home entertainment niche, has bought the set-top business of bankrupt Trident Microsystems, and is working to get into the Internet-TV business as well. Bulls like its double-digit revenue growth and its balance sheet, while bears fret over its volatility, falling margins, potential overdependence on a few customers, and competing technologies. The MoCA chips it sells to customers such as Verizon are selling well, and the company recently upped its earnings projections.
We should never blindly copy any investor's moves, no matter how talented the investor. But it can be useful to keep an eye on what smart folks are doing. And 13-F forms can be great places to find intriguing candidates for our portfolios.
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