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Paul Tudor Jones Buys JPMorgan and Financials ETF as Top Holdings

By: GuruFocus
Posted: 5/18/2012 5:38:00 PM
Referenced Stocks: BDX;GDX;JPM;WAT;XLF

Paul Tudor Jones , who founded $11 billion Tudor Investment Corp. in 1980, bought 377 new stocks in the first quarter, the largest of which were sizable positions financials: Spider Financial Sels ( XLF ), JPMorgan Chase ( JPM ). He also bought Becton Dickinson ( BDX ), Waters Corp. ( WAT ) and Brunswick Corp. ( BC ). Jones investing style is generally short-term trading.

The Financial Select Sector SPDR, of which Jones bought 8,663,000 shares at an average price of $15, contains a variety of investment management, commercial and investment banking institutions. Several top holdings are JPMorgan Chase, Wells Fargo and BankAmerica Corp.

Year to date, the ETF has returned 6%, after dipping significantly in 2011. It is now his top largest holding, aside from a put and calls on several other ETFs.

His second-largest new buy and new second-largest stock holding is JPMorgan Chase. Jones acquired 1,272,600 shares in the first quarter at approximately $39.55, which represents 2% of his holding. After rising to a $46.49 per share 52-week high in the first quarter, JPMorgan's shares dove after the bank revealed $2 billion in reading losses on May 10.

Jones bought sundry other stocks including 276,100 shares of Becton Dickinson, 173,700 shares of Waters Corp. ( WAT ) and 592,200 shares of Brunswick Corp. ( BC ).

Another important purchase highlight of his first quarter is his 238,000 shares of the Market Vectors Gold Miners ETF ( GDX ) at an average price of $53.50, as his eighth-largest new holding. In the last year, the ETF has declined almost 25%.

See more of Paul Tudor Jones ' portfolio here . Also check out the Undervalued Stocks , Top Growth Companies, and High Yield stocks of Paul Tudor Jones.About GuruFocus: tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .