Who is Paul Tudor Jones? Known as PTJ by his avid followers, Tudor Jones is an active trader, with his latest 13F disclosing 326 new equity positions in Q1, while 226 existing positions were added to; see his full profile on Insider Monkey here.
Although the primary focus of the Tudor fund was not on technology related stocks during the first quarter, the fund did initiate and hold a number of interesting positions in this sector.
See the original 13F here, and it’s important to note that retail investors can benefit from watching hedge fund sentiment (discover the details here).
His top four tech picks
Paul Tudor Jones held a position in the software company Workday Inc (NYSE:WDAY) comprising 211,543 shares worth $13.037 million – the same amount reported held at the end of the prior quarter. Workday Inc (NYSE:WDAY) has been in a general, but volatile, uptrend since its IPO last October, and is currently trading near its historic high at $68. The company’s total revenues for the fiscal fourth quarter was reported to be $81.5 million, an increase of 89% from the corresponding quarter of the prior year. Net loss per basic and diluted share for the fiscal fourth quarter was $0.19, compared to a net loss per basic and diluted share of $0.77 for the corresponding quarter of the prior year.
Another tech-related stock held by Tudor is in the multinational electronic equipment company PerkinElmer, Inc. (NYSE:PKI), with a holding of 232,000 shares worth $7.8 million reported in the 13F, another position initiated during 2013’s first quarter. The stock was in an uptrend for most of 2012, but has been more volatile this year, and is currently trading near $32.50. For its first quarter, PerkinElmer, Inc. (NYSE:PKI) reported a profit of $33.6 million, or 29 cents a share, up from $29.8 million, or 26 cents a share, a year earlier. PerkinElmer, Inc. (NYSE:PKI) currently has a relatively high P/E of 47.07, but its forward P/E is a much more comfortable 15.72.
Data center provider CyrusOne Inc (NASDAQ:CONE) was another tech-related holding disclosed in the 13F, with a stake of 99,575 shares worth about $2.274 million. This was another new position initiated by the fund during the first quarter of 2013. CyrusOne Inc (NASDAQ:CONE) had a successful IPO as recently as January 2013, and is currently trading at 21.89, with a market capitalization of about $480 million.
Last but certainly not least is Cisco Systems, Inc. (NASDAQ:CSCO), with Tudor holding 41,900 shares worth about $875,000 as of March 31, 2013, a 91% reduction when compared with the size of the holding as of December 31, 2012. Following a large gap up in response to a positive earnings report last week, Cisco Systems, Inc. (NASDAQ:CSCO) is currently trading near $23.64, close to its 52-week high. Cisco Systems, Inc. (NASDAQ:CSCO) reported net income of $2.5 billion, or 46 cents per share, compared with net income of $2.2 billion, or 40 cents per share, for the same period last year, beating estimates. The valuation is mildly attractive over the longer term, but we think PTJ was probably in this one for the earnings report.
Although Paul Tudor Jones’ exposure to tech stocks was not as significant as some of his other equity holdings, all four of these stocks may be worth further consideration. (Continue preparing for 13F-filing season here). This is just a tidbit, but it may go a bit further in answering the question: who is Paul Tudor Jones.
Disclosure: none
