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 Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

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!