Tudor Investment Purchases Consumer, Emerging-Market ETFs

Tudor Investment Corp., the $13 billion hedge-fund firm run by billionaire Paul Tudor Jones, increased its stake in an exchange-traded fund that tracks retail companies in the third quarter.

The firm bought 3.6 million shares of Consumer Discretionary Select Sector SPDR Fund (XLY), boosting its investment to 4.1 million shares valued at $250 million as of Sept. 30, according to a filing today with the U.S. Securities and Exchange Commission.

The ETF, which has rallied 36 percent this year, is Tudor’s largest U.S.-listed stock holding. Tudor, based in Greenwich, Connecticut, is a macro investor that seeks to profit from macroeconomic trends by trading everything from bonds to currencies.

Tudor also purchased 2.8 million shares in iShares MSCI Emerging Markets ETF in the latest quarter, taking a stake valued at about $115 million as of Sept. 30, the firm’s second-largest holding. It also initiated a holding in Cupertino, California-based Apple Inc.

Tudor sold off its holdings in Financial Select Sector SPDR Fund (XLF), Industrial Select Sector SPDR Fund and Energy Select Sector SPDR Fund (XLE), all ETFs. ETFs are baskets of securities, typically tracking an index, that trade on an exchange like stocks.

Patrick Clifford, a spokesman for Tudor at Abernathy McGregor, declined to comment on the firm’s filing.

To contact the reporter on this story: Saijel Kishan in New York at skishan@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

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