Trade Like Hedge Fund Billionaire Paul Tudor Jones (EEM, FXI, MJN, PGNX, RSX, XLP)

Paul Tudor Jones is widely considered to be one of the best traders to ever lay down a position. His long term consistency has been remarkable. Jones is a global-macro trader who got his start trading futures markets. In 2009 his estimated net-worth was $6.3 billion, making him one of the wealthiest people in the world. Jones is known for predicting the Black Monday stock market crash in 1987. During this event he reportedly made between $80 and $100 million, tripling his money, due to large short positions. This was no flash in the pan, however, rather it was just the start of Jones' incredible success. He is the founder of Tudor Investment Corporation, based in Greenwich, Connecticut. It is one of the largest hedge funds in the world, with an estimated $10 billion under management as of March 2010. While Jones is known for trading futures, his firm does hold a large portfolio of stocks. As of 3/3/2010, Tudor's largest long stock position was the iShares MSCI Emerging Markets Index ETF

. The Index is designed to measure equity market performance in the global emerging markets. As you will see, emerging market ETF's are a major theme in the Tudor equity portfolio. His second largest position was in the iShares FTSE/Xinhua China 25 Index ETF

. This is the largest and most liquid Chinese equity ETF which trades on the New York Stock Exchange. The fund seeks investment results that correspond generally to the price and yield performance of the FTSE/Xinhua China 25 Index. The Index consists of 25 of the largest and most liquid Chinese companies. The third largest equity holding at Tudor as of 3/31/2010 was the Consumer Staples Select Sector SPDR ETF

, which has gained 1.13% in 2010. The Consumer Staples Select Sector SPDR ETF seeks to provide investment results that correspond to the price and yield performance of the Consumer Staples Select Sector of the S&P 500 Index. This is a fairly bearish bet on the U.S. stock market, as consumer staples are considered defensive and hold up better in a declining market. You can bet that Jones has considerable short positions to offset his long holdings, as well. He is likely long consumer staples against a short position in a higher beta sector like technology, for example. Interestingly, according to Tudor Investment's 13-F, the firm holds a very large position in tiny biotech firm Progenics Pharmaceuticals

. This company only has a market cap of $160 million, and according to the filing, Tudor's stake is about $12.5 million. This is a very concentrated position in a small company and could offer investors huge upside potential. Tudor Investment also owns a chunk of Mead Johnson Nutrition

. A quick review of the chart suggests that this stock has been a nice relative outperformer of late. Year-to-date the shares have appreciated 18%. With a heavyweight like PTJ on board, investors could do probably do a lot worse than MJN in the stock picking department. The final position that seems notable is another emerging market ETF. This one is the Market Vector Russia ETF Trust

. The fund seeks to replicate as closely as possible the price and yield performance of the DAXglobal Russia+ Index (DXRPUS). DXRPUS is a modified market capitalization-weighted index consisting of publicly traded companies that are domiciled in Russia. As far as emerging markets are concerned, Russia has taken a backseat to places like China, India, and Brazil, but the returns have been pretty sweet, nonetheless. Over the last 52-weeks the RSX has returned a healthy 33%. It is important to note that all of the positions here cover just a fraction of Tudor's portfolio. The firm is heavily invested in non-equity asset classes across the globe, including debt, currencies, commodities, and venture capital. That being said, in the long-equity space, these are some of Tudor Investments core holdings. For more Benzinga hedge fund coverage, be sure to check out

. You are unlikely to find anything like this on the web. Burbank is an established superstar, who personally banked $370 million betting against sub-prime in 2007. If you want to take a peek into the mind of a world-class investor, this interview is a must listen.