Barry Rosentein‘s hedge fund Jana Partners recently disclosed all of its equity positions as of the end of the second quarter, in the latest round of 13F filings with the Securities and Exchange Commission. Jana Partners was founded in 2001, and is oriented toward value and event-driven investing. Following the moves of a hedge fund like Jana Partners is important, since there have been known market-beating strategies in relation to top-tier funds; discover the details here.
In this way, let’s take a look at the top picks in terms of value from Jana Partners’ most recent 13F filing. As follows, the largest stake Jana Partners reported was Agrium Inc. (USA) (NYSE:AGU). The hedge fund’s position involves more than 11.3 million shares, with the value of the stake amounting to $985.2 million. During the second quarter of the year, the position in Agrium advanced by about 130,000 shares. Since the beginning of the year, Agrium Inc. (USA) (NYSE:AGU)’s stock has returned -13%, while its forward P/E and PEG ratios amount to 9.0x and 2.2x, respectively.
The second-largest position is held by Oil States International, Inc. (NYSE:OIS), in which the hedge fund disclosed ownership of 5.3 million shares, worth $487.5 million. Oil States was a recent addition to the equity portfolio of Jana Partners. The stock has returned slightly below 26% since the beginning of the year, while its P/E ratio is about 12.3x. In addition to Jana Partners, we can mention some other notable hedge funds that are long Oil States International, Inc. (NYSE:OIS), such as Chuck Royce’s Royce & Associates, and Jim Simons’ Renaissance Technologies, among others.
In Ashland Inc. (NYSE:ASH), the hedge fund’s position amounts to $477.8 million and involves 5.7 million shares, up by about 2.1 million shares over the quarter. Another new position is Health Management Associates Inc (NYSE:HMA), which is also the fourth-largest pick in Jana’s equity portfolio, containing almost 19.5 million shares, worth $305.8 million.
Last but certainly not least we have Groupon Inc (NASDAQ:GRPN); the value of the stake is worth $299.9 million, and during the second quarter, it rose by some 13.1 million shares.
On the whole, the equity portfolio disclosed by Jana Partners contains more than 40 positions and has a value of almost $7.1 billion, surging from a first-quarter value of $4.8 billion.
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