Jana Partners is a New York-based value-oriented and event-driven hedge fund that was launched 18 years ago by Barry Rosenstein. Prior to founding his own investment management firm, Barry Rosenstein honed his investment acumen at private equity fund Sagaponack Partners, at Genesis Merchant Group’s Investment and Merchant Banking Group, which he founded as well. Barry Rosenstein also at Reatta Partners where he was a managing partner, while the beginnings of his investment career were at Merrill Lynch and Plaza Securities Corp. He earned an MBA and a CPA in Business from Wharton. Jana Partners’ Investment Philosophy is known by the maxim – “Ignore the crowd”. In this article, we are going to present the fund’s latest investment moves.
Insider Monkey’s flagship strategy identifies the best performing 100 hedge funds at the end of each quarter and invests in their consensus stock picks. This way it is always invested in the best ideas of the best performing hedge funds and is able to generate much higher returns than the market. Since its inception in May 2014, our flagship strategy generated a cumulative return of 103%, beating the S&P 500 ETF (SPY) by nearly 38 percentage points (see the details here). Our best performing hedge funds strategy also returned 26.4% year-to-date and outperformed the S&P 500 Index by nearly 12 percentage points. We take a closer look at hedge funds like Jana Partners in order to identify their best and worst ideas.
On March 31st, 2019, Jana Partners’ portfolio was valued at $1.05 billion, down by 52.05% from the previous quarter when it carried a value of $2.19 billion. Its very concentrated portfolio had only 9 long holdings at the end of the first quarter of 2019, during which it hasn’t added new position but it did drop 22. The top exists include Anthem, Inc. (NYSE:ANTM), Microsoft Corporation (NASDAQ:MSFT), Boston Scientific Corporation (NYSE:BSX), Adobe Inc. (NASDAQ:ADBE), New Oriental Education & Technology Group Inc. (NYSE:EDU), and Autodesk, Inc. (NASDAQ:ADSK). Its holdings that were reduced counted Zimmer Biomet Holdings, Inc. (NYSE:ZBH), HD Supply Holdings, Inc. (NASDAQ:HDS), Tiffany & Co. (NYSE:TIF), Jack in the Box Inc. (NASDAQ:JACK), and Falcon Minerals Corporation (NASDAQ:FLMN).In the first three months of 2019, the fund raised its stakes in Conagra Brands, Inc. (NYSE:CAG) and Spdr S & P 500 Etf Trust (NYSE:SPY).
This article is originally published at Insider Monkey.