JP

Jana Partners Portfolio holdings

AUM $1.34B Turnover 20%
1-Year Est. Return 4.95%
This Fund
S&P 500
This Quarter Est. Return
+7.65%
1 Year Est. Return
+4.95%
3 Year Est. Return
+36.05%
5 Year Est. Return
+49.5%
10 Year Est. Return
+234.68%
AUM
$11.5B
AUM Growth
-$7.83B
Cap. Flow
-$3.18B
Cap. Flow %
-27.68%
Top 10 Hldgs %
60.96%
Holding
81
New
12
Increased
8
Reduced
11
Closed
48
Avg Time Held Equity + Options
0.5 years
Top 10 Avg Time Held Equity + Options
0.4 years
Top 20 Avg Time Held Equity + Options
0.4 years
Avg Time Held Equity only
0.6 years
Top 10 Avg Time Held Equity only
0.4 years
Top 20 Avg Time Held Equity only
0.4 years

Top Buys

Rank Stock Value
1
HRI icon
Herc Holdings
HRI
+$537M
2
BHC icon
Bausch Health
BHC
+$407M
3
VYX icon
NCR Voyix
VYX
+$344M
4
QCOM icon
Qualcomm
QCOM
+$322M
5
LVNTA
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
+$288M

Top Sells

Rank Stock Value
1
EQIX icon
Equinix
EQIX
+$653M
2
CAM icon
CAMERON INTERNATIONAL CORPORATION
CAM
+$580M
3
DG icon
Dollar General
DG
+$492M
4
QEP
QEP RESOURCES, INC.
QEP
+$399M
5
AMGN icon
Amgen
AMGN
+$388M

Sector Composition

Rank Sector Weight
1 Miscellaneous 27.56%
2 Healthcare 18.34%
3 Industrials 17.75%
4 Technology 10.69%
5 Consumer Discretionary 9.36%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
WBA icon
1
DELISTED
Walgreens Boots Alliance
WBA
$1.05B 9.12%
13,750,000
+1,250,000
+10% +$83.6M
2013 Q3
5 quarters
HRI icon
2
Herc Holdings
HRI
$4.12B
$868M 7.56%
11,606,780
+7,947,671
+217% +$537M
2014 Q1
3 quarters
XLE icon
3
PUT
State Street Energy Select Sector SPDR ETF
XLE
$43.5B
$792M 6.89%
20,000,000
+4,400,000
+28% +$183M
2014 Q2
2 quarters
PETM
4
DELISTED
PETSMART INC
PETM
$788M 6.86%
9,694,002
– –
2014 Q2
2 quarters
EBAY icon
5
eBay
EBAY
$52B
$755M 6.57%
31,959,177
+921,199
+3% +$20.9M
2014 Q1
3 quarters
ASH icon
6
Ashland
ASH
$3.27B
$701M 6.1%
11,964,634
-40,608
-0.3% -$2.19M
2013 Q2
6 quarters
BHC icon
7
Bausch Health
BHC
$2.2B
$616M 5.37%
4,307,534
+3,023,350
+235% +$407M
2014 Q3
1 quarter
SPY icon
8
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$813B
$513M 4.46%
2,494,000
-27,206,000
-92% -$5.47B
2014 Q1
3 quarters
HDS
9
DELISTED
HD Supply Holdings, Inc.
HDS
$463M 4.03%
15,712,748
+3,608,959
+30% +$101M
2014 Q1
3 quarters
QCOM icon
10
CALL
Qualcomm
QCOM
$184B
$458M 3.99%
+6,164,600
New +$451M
2014 Q4
0 quarters
AGN
11
DELISTED
Allergan plc
AGN
$442M 3.85%
1,718,804
-795,897
-32% -$199M
2013 Q4
4 quarters
AER icon
12
AerCap
AER
$22.7B
$431M 3.75%
11,091,307
-249,084
-2% -$10.3M
2014 Q1
3 quarters
CHTR icon
13
Charter Communications
CHTR
$12B
$396M 3.45%
2,379,480
-1,215,976
-34% -$192M
2014 Q2
2 quarters
RAX
14
DELISTED
Rackspace Hosting Inc
RAX
$375M 3.26%
8,001,600
+996,623
+14% +$41.1M
2014 Q3
1 quarter
AIG icon
15
American International
AIG
$40.5B
$369M 3.21%
6,588,146
-5,136,919
-44% -$276M
2013 Q4
4 quarters
VYX icon
16
NCR Voyix
VYX
$950M
$350M 3.05%
+19,570,758
New +$344M
2014 Q4
0 quarters
QCOM icon
17
Qualcomm
QCOM
$184B
$327M 2.85%
+4,400,705
New +$322M
2014 Q4
0 quarters
LVNTA
18
DELISTED
Liberty Interactive Corporation Series A Liberty Ventures
LVNTA
$311M 2.71%
+8,238,435
New +$288M
2014 Q4
0 quarters
SVU
19
DELISTED
SUPERVALU Inc.
SVU
$293M 2.55%
4,319,270
– –
2013 Q2
6 quarters
SCTY
20
DELISTED
SolarCity Corporation
SCTY
$276M 2.4%
+5,158,150
New +$277M
2014 Q4
0 quarters
CSC
21
DELISTED
Computer Sciences
CSC
$174M 1.51%
+6,535,306
New +$168M
2014 Q4
0 quarters
EBAY icon
22
CALL
eBay
EBAY
$52B
$136M 1.19%
5,765,126
-6,814,844
-54% -$155M
2014 Q3
1 quarter
SLXP
23
DELISTED
SALIX PHARMACEUTICALS LTD DEL
SLXP
$129M 1.12%
+1,120,921
New +$136M
2014 Q4
0 quarters
GLNG icon
24
Golar LNG
GLNG
$4.7B
$108M 0.94%
+2,950,377
New +$140M
2014 Q4
0 quarters
HRI icon
25
CALL
Herc Holdings
HRI
$4.12B
$87.1M 0.76%
1,163,467
-2,654,966
-70% -$179M
2014 Q3
1 quarter
1
2 3 4

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FCFS
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FCB
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BWM
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LB
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BWA
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EWM
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KC
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Jana Partners's Q4 2014 Portfolio in Review

As of Q4 2014, Jana Partners held 81 positions worth $11.5B, down 41% from $19.3B the previous quarter. Its ten largest holdings account for 61% of the portfolio.

Jana Partners withdrew a net $3.18B in Q4 2014, closing 48 positions and reducing 11 holdings. Its most notable exit was Equinix, an estimated $653M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 28% of assets, down from 44% a quarter earlier, followed by Healthcare and Industrials.

Against the trend, Jana Partners opened a new position in NCR Voyix worth $350M.

  • Jana Partners's largest Q4 2014 buy was NCR Voyix: 19,570,758 shares worth $350M.
  • Jana Partners added most to Herc Holdings in Q4 2014, an estimated $537M increase.
  • Jana Partners's biggest Q4 2014 reduction was American International, cutting an estimated $276M.
  • Jana Partners fully exited Equinix in Q4 2014, selling an estimated $653M.
  • Jana Partners's ten largest holdings make up 61% of its $11.5B portfolio in Q4 2014.
  • Jana Partners opened 12 new positions and closed 48 in Q4 2014.
  • Jana Partners's portfolio value fell 41% quarter-over-quarter to $11.5B.

Based on Jana Partners's 13F filing for Q4 2014, filed 17 Feb 2015.