Apache Corporation (APA), FMC Corp. (FMC), Civeo Corp. (CVEO) Among JANA Partners’ New Stock Positions

JANA Partners is a value-oriented, event-driven investment firm that was founded by Barry Rosenstein in 2001. In its recent 13F filing with the U.S. Securities and Exchange Commission, the hedge fund reported its equity portfolio, which contains 65 positions, for the second quarter of 2014. The marker value of the fund’s equity portfolio amounts to $16.2 billion, representing a massive increase from $8.5 billion for the first quarter of 2014. Over the quarter, JANA Partners started more than 20 new positions and sold out over 15 stocks. From the fund’s equity portfolio, we have picked top three new positions for the second quarter.

Barry Rosenstein JANA PARTNERS

JANA Partners disclosed ownership of 4.54 million shares of Apache Corporation (NYSE:APA), which is engaged in oil and gas exploration and production. The reported market value of the holding is $456.3 million. At the end of June, Apache Corporation (NYSE:APA) announced that it sold non-operated interests in the Lucius and Heidelberg development projects and 11 primary term deepwater exploration blocks to a subsidiary of Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) and other interest owners for $1.4 billion.

For the second quarter of 2014, Apache Corporation (NYSE:APA) reported earnings of $505 million, or $1.31 per diluted common share, compared to earnings of $1 billion, or $2.54 per diluted common share, for the same period in the prior year. Other hedge funds holding stakes in Apache Corporation (NYSE:APA) include Harris Associates, which is wholly owned by Natixis Global Asset Management and Martin Whitman’s Third Avenue Management. In its latest 13F, Harris Associates revealed owning 6.89 million shares, and Third Avenue disclosed holding 1.35 million shares of the company.

FMC Corp. (NYSE:FMC) is second on the list. JANA Partners holds 4.99 million shares of the company, with a reported value of $355.5 million. FMC Corp. (NYSE:FMC) is a diversified chemical company that serves agricultural, industrial and consumer markets globally. The company has a market cap of $8.8 billion, and its shares traded down by 0.61% to $65.60 on Friday. The company’s second-quarter 2014 net income dropped to $109.1 million, or $0.81 per diluted share, from net income of $118.0 million, or $0.86 per diluted share, in the same quarter of 2013, according to a news release.

Aside from JANA Partners, Iridian Asset Management, led by David Cohen and Harold Levy, and First Eagle Investment Management, run by Jean-Marie Eveillard, disclosed owning 3.16 million shares, and 1.13 million shares of the company, respectively.

In Civeo Corp. (NYSE:CVEO), JANA Partners revealed holding a $306.4 million stake, which contains 12.24 million shares. Civeo Corp. (NYSE:CVEO), which is engaged in providing workforce accommodations, logistics and facility management services to the natural resource industry, reported net income of $13.9 million, or $0.13 per diluted share, for the second quarter of 2014, compared to net income of $33.0 million, or $0.31 per diluted share, for the same period of last year. In June, Civeo Corp. (NYSE:CVEO) announced that it completed its spin-off from Oil States International Inc. (NYSE:OIS).

Disclosure: none

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!