Yesterday we reported Leon Cooperman, has no love lost on Apple Inc. (NASDAQ:AAPL), meaning he sold Omega Advisors entire stake in the company in Q4. Now we know that Barry Rosenstein is equally unimpressed by the stock, his firm JANA Partners exited the position completely in the fourth quarter. Jana sold 143,148 shares of Apple which was 3.5 percent of the firm’s portfolio. We are closely watching activity in Apple as these would be the first official filings after AAPL spiralled downwards in the market in the last year.
Moreover it is not just Apple Inc. (NASDAQ:AAPL) that Jana Partners sold out, the firm also closed its position in Google Inc (NASDAQ:GOOG). Both tech stocks took more or less the same percentage of Jana’s portfolio. Rosenstein also got out of other tech companies, the fund exited Motorola Solutions Inc (NYSE:MSI) and Priceline.com Inc (NASDAQ:PCLN) as well.
Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy, have produced a 12.6% annualised return over the past 26 years. The funds added 7.7% overall in the second half of 2022, outperforming the 3.4% return for Read More
Agrium Inc. (TSE:AGU) (NYSE:AGU), QEP Resources Inc (NYSE:QEP), Copart, Inc. (NASDAQ:CPRT), Coca-Cola Enterprises Inc (NYSE:CCE) and Liberty Interactive (Ventures group) (NASDAQ:LVNTA) are among Jana’s top five holdings, all among top five were either added to or newly acquired in Q4.
Major additions to existing stakes were made in, Netflix, Inc. (NASDAQ:NFLX), American International Group, Inc. (NYSE:AIG), Liberty Interactive (Ventures group) (NASDAQ:LVNTA), Rockwood Holdings, Inc. (NYSE:ROC) and QEP Resources Inc (NYSE:QEP).
In terms of new buys, Jana initiated positions in Copart, Inc. (NASDAQ:CPRT), Verisign, Inc. (NASDAQ:VRSN), ADT Corp (NYSE:ADT), Ryman Hospitality Properties, Inc. (REIT) (NYSE:RHP), Iron Mountain Incorporated (NYSE:IRM), and some others. Jana Partners opened a new position in Tripadvisor Inc (NASDAQ:TRIP) with 2.27 million shares. Blue Ridge Capital, another hedge fund that filed 13f today, exited its position in Tripadvisor Inc (NASDAQ:TRIP) in Q4. Jana’s public long portfolio is worth $3.5 billion now which is up from$2.5 billion noted in Q3 of 2012.
Kyle Bass’ Hayman Capital aslo filed 13f, the fund bought several new positions into his $160 million long portfolio. Bass exited his positions in Electronic Arts Inc. (NASDAQ:EA), Six Flags Entertainment Corp (NYSE:SIX) and Sealy Corporation (NYSE:ZZ). The fund bought several new stocks in Q4, like, Huntsman Corporation (NYSE:HUN), VIVUS, Inc. (NASDAQ:VVUS), Newcastle Investment Corp. (NYSE:NCT) and Dynegy Inc. (NYSE:DYN).