Billionaire Paul Tudor Jones Trims His Fund’s Fee Structure Amid Underperformance, Bets On These Stocks Heading Into Q2

#3 Zimmer Biomet Holdings Inc (NYSE:ZBH)

 – Shares Owned by Tudor Investment Corp (as of March 31): 397,113

 – Value of Holding (as of March 31): $42.34 million

Moving on, Zimmer Biomet Holdings Inc (NYSE:ZBH) is turning out to be another major winner for Tudor Investment this quarter. After the fund increased its stake in the company by 215% during the first quarter, shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) have responded by gaining over 12% in the second quarter. According to analysts, the stock could see further upside this year as the integration synergies from the Zimmer/Biomet merger will continue to improve the combined company’s financial performance. Some analysts also feel that the strong free cash flow that Zimmer Biomet Holdings is expected to generate in the coming quarters will allow it to raise its quarterly dividend, which currently stands at $0.24 per share. John C. Walker‘s Stonerise Capital Management initiated a stake in Zimmer Biomet Holdings during the first quarter, purchasing 100,000 shares of the company.

#2 C R Bard Inc (NYSE:BCR)

 – Shares Owned by Tudor Investment Corp (as of March 31): 225,900

 – Value of Holding (as of March 31): $45.78 million

C R Bard Inc (NYSE:BCR)’s stock has been on a sustained rise ever since Tudor Investment initiated a stake in the company during the fourth quarter of 2013, including gains of 15.76% so far this year. Though the company has a 40-year history of increasing its dividend, due to the continuous rise in its stock, its annual dividend yield stands at just 0.43%. The 22 leading analysts and research firms on Wall Street who track the stock currently have an average rating of ‘Overweight’ and an average price target of $221.60 on it, which is exactly the level at which the stock is currently trading at (which suggests that the collective rating may be considered outdated). Hedge funds that cut their holdings in C R Bard Inc (NYSE:BCR) during the first quarter included Arthur B Cohen and Joseph Healey’s Healthcor Management LP, which lowered its stake in the stock by 63% to 260,000 shares.

#1 Starwood Hotels & Resorts Worldwide Inc (NYSE:HOT)

 – Shares Owned by Tudor Investment Corp (as of March 31): 550,000

 – Value of Holding (as of March 31): $45.88 million

Tudor Investment increased its stake in Starwood Hotels & Resorts Worldwide Inc (NYSE:HOT) by 35% during the first quarter, which, when coupled with a 21% rise in the stock during the same period, propelled the company to the top spot in the fund’s equity portfolio as of March 31. Most of the gains that the stock has experienced this year came as a result of the company becoming the target of a battle between two acquirers; Marriott International Inc (NASDAQ:MAR) on the one hand, and a consortium of investors led by Chinese insurance behemoth Anbang Insurance Group on the other. Within a few days of Anbang Insurance Group withdawing its final $14 billion bid for the company on March 31, Starwood Hotels & Resorts Worldwide Inc (NYSE:HOT) and Marriott International Inc (NASDAQ:MAR) jointly announced that the respective shareholders of both companies had approved their merger. Now that Starwood has completed the sale of its timeshare business to Interval Leisure Group, analysts expect that the Marriott/Starwood merger will be completed within a few weeks. Min Htoo and Jordan Teramo’s Anandar Capital Management was one of the hedge funds that initiated a stake in Starwood during the first quarter, purchasing 343,000 shares of the company.

Disclosure: None