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Paul Tudor Jones' Firm Chops Buffett's Apple in 1st Quarter

Tudor Investment releases quarterly portfolio

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May 23, 2022
Summary
  • Firm slashes Apple stake by more than 80%.
  • Also exits Vonage Holdings position.
  • Firm boosts holdings in Anaplan and Cerner.
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Paul Tudor Jones (Trades, Portfolio), founder and chief investment officer of Tudor Investment Group, disclosed in a regulatory filing that his firm's top trades during the first quarter included a reduction to its holding in Apple Inc. (AAPL, Financial), the closure of its position in Vonage Holdings Corp. (VG, Financial) and boosts to its holdings in Anaplan Inc. (PLAN, Financial) and Cerner Corp. (CERN, Financial).

The Boston-based firm invests on the belief that companies must continually innovate in order to compete in rapidly-evolving markets. Ultimately, the firm seeks to generate consistent returns through dedicated research, trading and investment techniques.

As of March, Tudor Investment’s $4.27 billion 13F equity portfolio contains 1,915 stocks, with 459 new positions and a quarterly turnover ratio of 40%. The top four sectors in terms of weight are technology, financial services, health care and consumer cyclical, representing 20.15%, 14.81%, 11.54% and 11.20% of the equity portfolio.

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Investors should be aware that 13F filings do not give a complete picture of a firm’s holdings as the reports only include its positions in U.S. stocks and American depository receipts, but they can still provide valuable information. Further, the reports only reflect trades and holdings as of the most-recent portfolio filing date, which may or may not be held by the reporting firm today or even when this article was published.

Apple

Tudor Investment sold 382,083 shares of Apple (

AAPL, Financial), chopping 84.81% of the position and 1.14% of its equity portfolio.

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Shares of Apple averaged $168.23 during the first quarter; the stock is modestly undervalued based on Monday’s price-to-GF Value ratio of 0.84.

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The Cupertino, California-based consumer electronics giant has a GF Score of 99 out of 100, driven by a rank of 10 out of 10 for profitability and growth and a rank of 9 out of 10 for GF Value and momentum despite financial strength ranking just 7 out of 10.

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Warren Buffett (Trades, Portfolio)’s Berkshire Hathaway Inc. (BRK.A)(BRK.B) owns 890,923,410 shares of Apple, giving the position 42.79% weight in its 13F equity portfolio.

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Other gurus with holdings in Apple include

Ken Fisher (Trades, Portfolio)’s Fisher Investments and Spiros Segalas (Trades, Portfolio)’ Harbor Capital Appreciation Fund.

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Vonage Holdings

The firm sold all 3,171,014 shares of Vonage Holdings (

VG, Financial), trimming 1.10% of its equity portfolio.

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Shares of Vonage averaged $20.47 during the first quarter; the stock is modestly overvalued based on Monday’s price-to-GF Value ratio of 1.29.

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The Holmdel, New Jersey-based communication service company has a GF Score of 69 out of 100, driven by a rank of 6 out of 10 for profitability and growth despite financial strength ranking just 4 out of 10 and GF Value and momentum ranking just 3 out of 10.

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Anaplan

The firm added 1,343,170 shares of Anaplan (

PLAN, Financial), giving the shares 2.05% weight in the equity portfolio.

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Shares of Anaplan averaged $48.62 during the first quarter; the stock is modestly undervalued based on Monday’s price-to-GF Value ratio of 0.88.

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The San Francisco-based business performance software company has a GF Score of 75 out of 100 based on a momentum rank of 9 out of 10, a GF Value rank of 7 out of 10 and a rank of 6 out of 10 for financial strength and growth despite profitability ranking just 3 out of 10.

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Cerner

The firm added 919,717 shares of Cerner (

CERN, Financial), giving the shares 2.01% weight in the equity portfolio.

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Shares of Cerner averaged $92.54 during the first quarter; the stock is modestly overvalued based on Monday’s price-to-GF Value ratio of 1.16.

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The North Kansas City, Missouri-based health information technology services company has a GF Score of 83 out of 100, driven on a rank of 8 out of 10 for profitability and growth and a rank of 6 out of 10 for momentum and financial strength despite GF Value ranking just 3 out of 10.

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Disclosures

I am/we currently own positions in the stocks mentioned, and have NO plans to sell some or all of the positions in the stocks mentioned over the next 72 hours. Click for the complete disclosure
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