Tudor Investment Corp Updates 8 Positions Via Amended 13G Filings ~ market folly

Tuesday, February 10, 2009

Tudor Investment Corp Updates 8 Positions Via Amended 13G Filings

Hedge Fund Tudor Investment Corp ran by Paul Tudor Jones has just filed 8 separate amended 13G filings with the SEC due to activity on December 31st, 2008. They have previously held positions in all of these names and have adjusted them. Here are the position updates (in no particular order):

  1. They now show a 0.04% ownership stake in Terrestar (TSTR) with 42,798 shares.
  2. 1.9% ownership stake in BigString(BSGC) with 995,712 shares.
  3. 0.6% ownership stake in Fibertower (FTWR) with 876,958 shares.
  4. 1.2% stake in International Fight League (IFLI) with 955,886 shares.
  5. 9.7% ownership stake in Progenics Pharmaceuticals (PGNX) with 2,888,513 shares.
  6. 1% stake in ULURU (ULU) with 628,873 shares.
  7. 12.6% stake in Enherent Corp (ENHT) with 6,593,336 shares.
  8. 1% stake in KIT Digital (KITD) with 1,182,527 shares.

If you missed it back in late January, Tudor also filed numerous 13Ds on some other positions. If you're unfamiliar with Tudor, then here is his bio from Wikipedia,

"In 1980 he founded Tudor Investment Corporation which is today a leading asset management firm headquartered in Greenwich, Connecticut. The Tudor Group, which consists of Tudor Investment Corporation and its affiliates, is involved in active trading, investing and research in the global equity, venture capital, debt, currency and commodity markets. One of Jones' earliest and major successes was predicting Black Monday in 1987, tripling his money during the event due to large short positions. Jones uses a global macro strategy when trading in some of his funds. This strategy can be seen in the 1987 PBS film "TRADER: The Documentary". The film shows Mr. Jones as a young man predicting the 1987 crash. Jones' firm currently manages$17.7 billion (as of June 1, 2007). Their investment capabilities are broad and diverse, including global macro trading, fundamental equity investing in the U.S. and Europe, emerging markets, venture capital, commodities, event driven strategies and technical trading systems."

So, as you can see, PTJ is quite an accomplished gentleman, earning him the title of the macro trader. If you want to hear some insightful thoughts from Paul Tudor Jones himself, head over to our post on Hedge Fund manager interviews or our post on quotes from PTJ. We've also covered their 13F filing which details their entire portfolio. 2008 was a mixed year for them, depending on which funds you were invested in. Their Raptor global equities fund finished '08 -20%, their flagship Global BVI fund finished -4.9%, and their Tensor fund (quant) ended +35.4% as we noted in our year end hedge fund performance numbers.

Company bios taken from Google Finance,

TerreStar Corporation, "formerly Motient Corporation is in the integrated satellite wireless communications business through its ownership of TerreStar Networks Inc. (TerreStar Networks), its principal operating entity, and TerreStar Global Ltd. (TerreStar Global)."

BigString Corporation is "a technology company focused on providing online communications. The Company provides a technology that would allow the user of e-mail services to have control, security and privacy relating to the e-mail generated by the user."

FiberTower Corp is "a provider of facilities-based backhaul services to wireless carriers. The Company utilizes its wireless spectrum assets to provide backhaul services through a hybrid radio/fiber network architecture."

International Fight League, Inc. is "a sports entertainment company that uses its professional mixed martial arts (MMA) sports league, known as the International Fight League (IFL), as a platform to generate revenues from spectator attendance at live events, broadcast of television programming, sponsorships and licensing."

Progenics Pharmaceuticals, Inc. (Progenics) is "a biopharmaceutical company focusing on the development and commercialization of therapeutic products to treat the unmet medical needs of patients with debilitating conditions and life-threatening diseases."

ULURU Inc. is "a pharmaceutical company focused on advancing topical drug delivery and engaged in the development of wound care, plastic surgery, and topically applied therapeutics based primarily on the adaptation of existing therapeutic agents using its drug delivery platforms."

Enherent Corp. is "an information technology services firm with a primary focus of providing clients with consultative and technology staffing resources; and teams of technical consultants trained in the delivery of solutions related to systems integration, network and security, and application services."

KIT digital, Inc. (KIT Digital), "formerly ROO Group, Inc., through its subsidiaries, is engaged in the business of providing Internet software products and solutions that enable its customers to distribute video content through Internet Websites and mobile devices."

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