Tudor Investment Corp., the $13 billion hedge-fund firm run by Paul Tudor Jones, sold its stakes in Apple Inc. and an exchange-traded fund that tracks emerging markets in the first quarter.
The firm sold 386,124 shares of Cupertino, California-based Apple, valued at $205.5 million at the end of March, according to a filing today with the U.S. Securities and Exchange Commission. Tudor sold 18.9 million shares of iShares MSCI Emerging Markets Index, valued at $839.2 million.
Both stocks were Tudor’s largest U.S. stock holdings at the end of the fourth quarter. The hedge fund added 1 million shares of Financial Select Sector SPDR Fund, making the ETF that tracks financial companies its largest U.S.-listed equity holding.
Tudor also sold its stake Vodafone Group Plc, while buying shares of Pfizer Inc., its largest new purchase.
Patrick Clifford, a spokesman for Tudor at Abernathy McGregor in New York, declined to comment. Tudor, based in Greenwich, Connecticut, is a macro investor that seeks to profit from broad economic trends by trading everything from bonds to commodities.