William P. Jones is founder of William Jones & Associates, which manages $3.6 billion in client assets. Jones graduated from Harvard University in 1973. He founded WJ&A fifteen years later. Prior to forming WJ&A, Jones was a Director and Senior Portfolio Manager at Mackay-Shields Associates. Before that, Jones worked as a Vice President and Trust Officer at Chase Manhattan Bank from 1980 until 1982.
WJ&A has a conservative investment strategy, which focuses on long-term growth of client capital through proper asset allocation. WJ&A has 10 portfolio managers, each averaging 26 years of investment experience in bonds, equities and hedge funds.
According to 13F filings, WJ&A had 249 securities worth $1.69 billion in its 13F portfolio as of December 31, 2010. We noticed that Jones has been holding more than half of these securities for at least five years. In the last quarter of 2010, he sold 16 securities and bought 40 new securities. Here are the 10 largest new stock picks: