Energy Transfer Equity LP (ETE), Liberty Interactive (Ventures group) (LVNTA), Endo International PLC (ENDP): JANA Partners’ Top Performers

Jana Partners, managed by Barry Rosenstein capped a brilliant 2013 in the equity markets finishing strongly after delivering returns that met expectations. The biggest contributors to the company’s brilliant performance for the year were, Energy Transfer Equity LP (NYSE:ETE), Endo International PLC (NASDAQ:ENDP) and Liberty Interactive (Ventures group) (NASDAQ:LVNTA). Looking back, the company pointed out that it undersized some positions that went on to overshoot price targets in one of the best years for averages.

Barry Rosenstein JANA PARTNERS

Jana Partners’ enthusiastic team is now looking forward to 2014 fiscal year of which it promises to produce a more successful year in terms of trades at the back of strengthened process, core functions of research and portfolio construction. Jana Partners remains optimistic on U.S. GDP expanding even further in 2014, as the economy continues to face minimal headwinds.

Energy Transfer Equity LP (NYSE:ETE) was one of the top performers for the quarter and full year for Jana. Solid performance by the company follows ETE management doing all that was necessary consequently driving unit price returns of 88% for the year. Appreciation of Energy Transfer Equity LP (NYSE:ETE) in the fourth quarter was, on the other hand, ignited by the anticipated contract terms for the Lake Charles project.

When Jana Partners purchased Energy Transfer Equity LP (NYSE:ETE), it ascribed a $10-$20 of option for the lake Charles project  with the management of the company later outlining a plan to generate cash flow to unit holders of up to $900 million upon completion. At the current peer multiples, Lake Charles is valued at $55 a unit.

Liberty Interactive (Ventures group) (NASDAQ:LVNTA) was the second largest best performer for the quarter having been acquired in the third quarter of 2012. At the Time of acquisition, Jana Partners believed it was trading at a discount. The company’s shares appreciated after it was announced’ that there was going to be a split of Liberty Interactive (Ventures group) (NASDAQ:LVNTA)’s ownership of TRIP into a new equity. Going Forward Jana Partners expects the potential event to be a success.

Endo International PLC (NASDAQ:ENDP) was, on the other hand, the third largest contributor in terms of performance for the quarter having been added in January 2013. The appointment of a new CEO in the name of, Rajiv De Silva, has more than increased the prospects of Endo International PLC (NASDAQ:ENDP) performing even better considering he has proven track record having worked at Valeant Pharmaceuticals Intl Inc. (NYSE:VRX). The CEO has already overseen the purchase of the company’s $7 million stock and announced plans to grow shareholder value.

See the full letter below:

Jana-Partners-Letter

Disclosure: none

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click here to Read Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 74 percentage points in 2.5 years. Our beta is only 1.2 (download a FREE newsletter and see the details inside)

Lists

Best Selling Magazines in the World

Shortest People in History

The Most Celebrated Holidays in the World

Most Expensive Handbag Brands in the World

Top Selling Comic Book Issues of this Century

The Most Powerful Women in Politics

Best Paid DJs

Most Rebellious Female Artists

Best Paid TV Actresses of 2014

Best Paid Actors of 2014

Most Expensive Horses in the World

Tallest People Ever

Most Encouraging Feminist Celebrities

Best Paid Supermodels of 2014

Top 10 Suburbs for Retirement in 2015

10 Wealthiest Cities in America

Top 10 TED Talks for Entrepreneurs

Best TED Talks on Education

25 Most Dangerous Places to Live in America

Top 10 Ski Resorts in the United States – 2014 List

Top 10 Most Remote Places in the World

Most Visited Museums in the United States

Wealthiest Photographers in the World

Most Famous Gay Athletes

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!