Jana Partners LLC revealed in its recent 13F filing that it added iShares Russell 2000 Index (ETF) (NYSEARCA:IWM) and Oil States International, Inc. (NYSE:OIS) while it sold out its positions in BMC Software, Inc. (NASDAQ:BMC) and Rockwood Holdings, Inc. (NYSE:ROC).
The advisory firm added 23 new stocks to its portfolio, bought more shares of twelve stocks, exited 14 stocks and reduced holdings in 8 stocks. The top ten holdings of Jana Partners represent 70.31 percent of its portfolio. Jana Partners has a market value of $7.09 billion.
Pros And Cons Of Tail Risk Funds
Editor’s note: This article is part of a series ValueWalk is doing on tail risk hedge funds. The series is based on over a month of research and discussions with over a dozen experts in the field. All the content will be first available to our premium subscribers and some will be released at a Read More
Jana Partners major new positions
iShares Russell 2000 Index (ETF) (NYSEARCA:IWM) was the biggest new addition to Jana Partners’ portfolio during the quarter ended June 30th, 2013. It purchased 7,207,600 shares of the company for $1.156 billion. iShares now represents 16.31 percent of its portfolio.
Another big new addition was the provider of specialty products and services company, Oil States International, Inc. (NYSE:OIS). Jana Partners purchased 5,324,553 shares for $487.52 million, representing 6.88 percent of its portfolio.
Jana Partners also acquired 19,450,000 shares of Health Management Associates Inc (NYSE:HMA) for $305.75 million, representing 4.31 percent of its portfolio. The advisory firm also purchased 4,812,598 shares of URS Corp (NYSE:URS) for $227.25 million representing 3.21 percent of its portfolio. The fifth largest new addition to Jana Partners’ portfolio was Eastman Chemical Company (NYSE:EMN). Jana Partners purchased 2,757,581 shares of the global specialty chemicals company for $193.05 million representing 2.72 percent of its portfolio during the quarter.
The exchange traded fund SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is the biggest holding of Jana Partners as of June 30th, representing 16.31 percent of its portfolio. The second largest holding was Agrium Inc (NYSE:AGU) (TSE:AGU), of which Jana Partners owns 11,329,696 shares for $985.23 million representing 13.90 percent of its portfolio. iShares Russell 2000 Index (ETF) (NYSEARCA:IWM) and Oil States International, Inc. (NYSE:OIS) represent 7.28 percent and 6.88 percent of Jana Partners’ portfolio taking up the third and the fourth position in its overall portfolio respectively.
The global specialty company Ashland Inc. (NYSE:ASH) occupies the fifth largest position of Jana Partners, where the advisory firm holds 5,721,916 shares for $477.78 million representing 6.74 percent of its portfolio.
Sold out positions
Jana Partners sold out its entire stake in BMC Software, Inc. (NASDAQ:BMC). The advisory firm owned 3,556,313 shares of the software company at the beginning of the previous quarter. It represented 3.42 percent of Jana Partners’ total portfolio. The advisory firm also closed its position in Rockwood Holdings, Inc. (NYSE:ROC) by selling all the 2,502,977 shares of the company it owned.
Another major position closed during the quarter was Big Lots, Inc. (NYSE:BIG) by selling 3,751,359 shares. Jana Partners also sold out its entire holding Ryman Hospitality Properties Inc (NYSE:GET) (2,757,464 shares) and Coca-Cola Enterprises Inc (NYSE:CCE) (3,418,506 shares).