Barry Rosenstein’s JANA Partners Added These Five Stocks to Its Portfolio in Q2

Barry Rosenstein‘s JANA Partners is going through a rough period marked by its worst performance since it was launched in 2001. JANA’s main fund has posted negative returns for 12 out of the last 19 months and has not only underperformed the S&P 500, but also many of its peers. The fund currently has an equity portfolio worth $5.85 billion as of the end of June, slightly higher compared to $5.27 billion reported a year earlier.

In this article, let’s take look at the five new positions, which JANA Partners added to its equity portfolio during the second quarter, and which include Coca-Cola European Partners plc Ordinary Shares (NYSE:CCE), Expedia Inc (NASDAQ:EXPE), Harris Corporation (NYSE:HRS), Pinnacle Foods Inc (NYSE:PF), and Willis Towers Watson PLC (NASDAQ:WLTW).

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Barry Rosenstein - Jana Partners

Coca-Cola European Partners plc Ordinary Shares (NYSE:CCE)

– Shares Owned by Jana Partners (as of June 30): 8.18 million

– Value of Jana Partners holding (as of June 30): $292.11 million

JANA added Coca-Cola European Partners plc Ordinary Shares (NYSE:CCE) to its equity portfolio during the second quarter, having bought 8.18 million shares worth $292.11 million. Coca-Cola European Partners plc Ordinary Shares (NYSE:CCE) is one of the few consumer-related stock covered by Susquehanna, which considers that Coca-Cola European Partners, along with Sodastream International Ltd (NASDAQ:SODA) and Mondelez International Inc (NASDAQ:MDLZ), has the biggest downside risk from exposure to the Euro and the British Pound. Susquehanna also stated that currency risk makes Coca-Cola European Partners plc Ordinary Shares (NYSE:CCE) an unattractive bet compared to Mondelez. A total of 40 funds in our database held long positions in Coca-Cola European Partners plc Ordinary Shares (NYSE:CCE) worth $1.55 billion in aggregate, during the second quarter.

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Expedia Inc (NASDAQ:EXPE)

– Shares Owned by Jana Partners (as of June 30): 2.07 million

– Value of Jana Partners holding (as of June 30): $219.96 million

In Expedia Inc (NASDAQ:EXPE), the fund acquired 2.07 million shares worth $219.96 million during second quarter. Shares of Expedia Inc (NASDAQ:EXPE) are down by 13.04% since the beginning of the year. For the second quarter, Expedia Inc (NASDAQ:EXPE) reported revenue of around $2.2 billion, which was $50 million lower than expected, while EPS of $0.83 topped the consensus estimate of $0.78. Out of the total funds tracked by our team, 67 funds held long positions in Expedia with total value of $3.87 billion at the end of June.

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On the next page, we will look at Harris Corporation (NYSE:HRS), Pinnacle Foods Inc (NYSE:PF), and Willis Towers Watson PLC (NASDAQ:WLTW).