Paul Tudor Jones Buys Stakes in ADP and Visa

Jun 19, 2015

Paul Tudor Jones (Trades, Portfolio), founder of Tudor Investment Corporation, has been estimated to be worth in excess of $4 billion. Much of his money was made when he predicted “Black Monday” in October 1987, thanks to large short positions.

He makes hundreds of transactions every quarter. The transaction with the greatest impact to Jones’ portfolio in the first quarter of 2015 was the selling of his 2,328,800-share stake in SPDR S&P 500 ETF (SPY, Financial) for an average price of $205.57 per share. That sale had a -4.6% impact on his portfolio.

Jones made many transactions in the first quarter, and quite a few involved buying, not selling. He added 768,239 shares to his stake in iShares IBoxx $ Invest Grade Corp Bd Fd (LQD, Financial) for an average price of $120.63 per share. The purchase had a 2.99% impact on his portfolio.

The stock has a market cap and enterprise value of $24.56 billion. Ken Fisher (Trades, Portfolio), Ray Dalio (Trades, Portfolio) and NWQ Managers (Trades, Portfolio) have the stock’s shares in their portfolios.

Jones had nearly 400 new buys in the first quarter. Many were modest, but some were significant. He added a stake in Automatic Data Processing (ADP, Financial), a New Jersey-based provider of business outsourcing solutions, to his portfolio. He bought 502,292 shares for an average price of $86.12 per share. The transaction had a 1.38% impact on that portfolio.

Automatic Data Processing has a market cap of $39.71 billion and an enterprise value of $37.88 billion. It has a P/E of 29.0, a Price/Book of 7.6 and a Price/Sales of 3.2. Bill Nygren (Trades, Portfolio), First Eagle Investment (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Tom Gayner (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Manning & Napier Advisors, Inc, Jeff Auxier (Trades, Portfolio), Ray Dalio (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Ruane Cunniff (Trades, Portfolio), Bill Frels (Trades, Portfolio) and Dodge & Cox have shares of ADP in their portfolios.

Jones also bought a stake in Visa Inc (V, Financial), a California-based financial services corporation. Jones acquired 538,640 shares for an average price of $66.12 per share. The deal had a 1.12% impact on his portfolio.

He also bought a stake in Teva Pharmaceutical Industries Ltd (TEVA, Financial), an international pharmaceutical company based in Israel. Jones bought 550,000 shares for an average price of $58.14 per share. The purchase had a 1.1% impact on his portfolio.

Jones added a stake in Alliance Data Systems Corp (ADS, Financial), a Plano, Texas-based provider of loyalty and marketing solutions such as private label credit cards, coalition loyalty programs and direct marketing services, to his portfolio. He bought 59,735 shares for an average price of $286.25 per share. The acquisition had a 0.57% impact on his portfolio.

ADS has a market cap of $18.76 billion and an enterprise value of $27.68 billion. It has a P/E of 36.4, a Price/Book of 10.0 and a Price/Sales of 3.0. Ronald Muhlenkamp (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Pioneer Investments (Trades, Portfolio) and RS Investment Management (Trades, Portfolio) have shares of ADS in their portfolios.

Jones added to several existing stakes. He added 1,376,301 shares to his stake in NCR Corp (NCR, Financial), a Georgia-based computer hardware, software and electronics company, for an average price of $28.33 per share. That purchase had a 1.3% impact on Jones’ portfolio.

NCR has a market cap of $5.72 billion and an enterprise value of $8.88 billion. It has a P/E of 32.3, a Price/Book of 3.0 and a Price/Sales of 0.9. Jana Partners (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), Richard Snow (Trades, Portfolio), Jim Simons (Trades, Portfolio), Pioneer Investments (Trades, Portfolio) and David Dreman (Trades, Portfolio) have shares of NCR in their portfolios.

Jones nearly tripled his stake in Pfizer Inc (PFE, Financial), a New York-based pharmaceutical corporation, in the first quarter. He purchased 1,138,585 shares for an average price of $33.51 per share. The deal had a 0.84% impact on his portfolio.

Jones reduced 500 of his holdings in the first quarter. The reduction with the greatest impact to his portfolio was his sale of 308,206 shares of Facebook Inc (FB, Financial), a California-based social networking service, for an average price of $78.34. The purchase had a -0.84% impact on Jones’ portfolio.

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