Paul Tudor Jones' Firm Exits Anaplan, Buys Biohaven in 2nd Quarter

Boston-based firm releases quarterly portfolio

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James Li
Aug 19, 2022
Summary
  • Tudor Investment's top trade is the closure of its Anaplan position.
  • Firm enters Biohaven Pharmaceutical position and boosts Alleghany stake.
  • Tudor Investment also boosts stakes in iShares MSCI Emerging Markets ETF and Energy Select Sector SPDR Fund.
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Tudor Investment, the firm founded by

Paul Tudor Jones (Trades, Portfolio), disclosed in a regulatory filing that its top trades during the second quarter included the closing of its position in Anaplan Inc. (PLAN, Financial), a new holding in Biohaven Pharmaceutical Holding Co. Ltd. (BHVN, Financial) and a boost to its stake in Alleghany Corp. (Y, Financial). The firm also boosted its holdings of the iShares MSCI Emerging Markets ETF (EEM, Financial) and the Energy Select Sector SPDR Fund (XLE, Financial).

The Boston-based firm seeks long-term capital appreciation on the belief that investment firms must continue to innovate in order to compete in rapidly evolving markets. The firm’s investing strategy emphasizes the use of research, trading and investment techniques.

As of June, the firm’s $3.81 billion 13F equity portfolio contains 2,043 stocks, with 514 new positions and a quarterly turnover ratio of 47%. The top four sectors in terms of weight are technology, financial services, health care and consumer cyclical, representing 17.12%, 14.94%, 12.41% and 11.46% of the equity portfolio.

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Investors should be aware 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.

Anaplan

Tudor Investment sold all 1,371,802 shares of Anaplan (

PLAN, Financial), trimming 2.09% of its equity portfolio.

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Shares of Anaplan averaged $64.77 during the second quarter; the stock is modestly undervalued based on Friday’s price-to-GF Value ratio of 0.82.

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The San Francisco-based business performance management company has a GF Score of 56 out of 100 based on a GF Value rank of 9 out of 10, a profitability rank of 3 out of 10 and a rank of 6 out of 10 for financial strength and growth. Despite this, the company does not have enough data to compute a momentum rank and thus, the GF Score may give an incomplete picture of the stock’s potential.

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Biohaven Pharmaceutical Holding

Tudor Investment purchased 327,735 shares of Biohaven Pharmaceutical Holding (

BHVN, Financial), giving the position 1.25% equity portfolio weight.

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Shares of Biohaven averaged $127.59 during the second quarter. The stock does not have enough data to compute a GF Value.

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The New Haven, Connecticut-based clinical-stage biotech company has a GF Score of 35 out of 100 based on a momentum rank of 6 out of 10, a financial strength rank of 3 out of 10 and a profitability rank of 1 out of 10. However, the stock does not have enough data to compute a growth rank and a GF Value rank and thus, the GF Score may give an incomplete picture of the stock’s potential.

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Alleghany

Tudor Investment added 83,831 shares of Alleghany (

Y, Financial), expanding the position by 1,047.76% and its equity portfolio by 1.83%.

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Shares of Alleghany averaged $836.63 during the second quarter; the stock is fairly valued based on Friday’s price-to-GF Value ratio of 0.99.

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The New York-based property and casualty insurance company, which is being acquired by Berkshire Hathaway (

BRK.A, Financial)(BRK.B, Financial), has a GF Score of 86 out of 100 based on a growth rank of 9 out of 10, a profitability rank of 7 out of 10, a financial strength rank of 5 out of 10 and a rank of 6 out of 10 for GF Value and momentum.

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Firm also boosts holdings in emerging markets ETF and energy ETF

The firm invested in 1,534,891 shares of the iShares MSCI Emerging Markets ETF (

EEM, Financial), expanding the position by 5,812.22% and its equity portfolio by 1.61%.

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Tudor also added 507,588 shares of the Energy Sector Select SPDR Fund (

XLE, Financial), increasing the position by 2,536.04% and its equity portfolio by 0.95%.

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Disclosures

I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours. Click for the complete disclosure
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