Jana Partners and Barry Rosenstein has dumped most of its Qualcomm (QCOM) stake. It owned ~28.5 million shares and dumped about two-thirds of its stake. It now owns 9.2 million shares.
This comes as the activist hedge fund was pushing Qualcomm to split into two companies. Qualcomm rebuffed and Jana is moving on. And likely cutting losses. Jana bought the bulk of its stake in 1Q 2014.
For the first quarter of 2022, the Voss Value Fund returned -5.5% net of fees and expenses compared to a -7.5% total return for the Russell 2000 and a -4.6% total return for the S&P 500. According to a copy of the firm’s first-quarter letter to investors, a copy of which ValueWalk has been able Read More
QCOM went from Jana’s no. 1 largest holding to no. 4.
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