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
-9.37%
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
$8.87B
AUM Growth
-$7.95B
Cap. Flow
-$2.67B
Cap. Flow %
-30.1%
Top 10 Hldgs %
79.32%
Holding
57
New
16
Increased
3
Reduced
9
Closed
26
Avg Time Held Equity + Options
0.4 years
Top 10 Avg Time Held Equity + Options
0.4 years
Top 20 Avg Time Held Equity + Options
0.3 years
Avg Time Held Equity only
0.5 years
Top 10 Avg Time Held Equity only
0.5 years
Top 20 Avg Time Held Equity only
0.4 years

Top Buys

Rank Stock Value
1
CAG icon
Conagra Brands
CAG
+$821M
2
BAX icon
Baxter International
BAX
+$476M
3
MSFT icon
Microsoft
MSFT
+$346M
4
QVCGA
QVC Group Inc Series A
QVCGA
+$228M
5
MAT icon
Mattel
MAT
+$218M

Top Sells

Rank Stock Value
1
EBAY icon
eBay
EBAY
+$693M
2
JCI icon
Johnson Controls International
JCI
+$497M
3
PCP
PRECISION CASTPARTS CORP
PCP
+$494M
4
AER icon
AerCap
AER
+$481M
5
URI icon
United Rentals
URI
+$480M

Sector Composition

Rank Sector Weight
1 Healthcare 27.79%
2 Technology 27.37%
3 Consumer Staples 14.82%
4 Communication Services 13.18%
5 Industrials 8.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
QCOM icon
1
Qualcomm
QCOM
$184B
$1.53B 17.29%
28,550,816
-268,838
-0.9% -$16M
2014 Q4
3 quarters
CAG icon
2
Conagra Brands
CAG
$6.61B
$1.24B 13.96%
39,281,697
+24,456,120
+165% +$821M
2015 Q2
1 quarter
WBA icon
3
DELISTED
Walgreens Boots Alliance
WBA
$1.14B 12.88%
13,750,000
– –
2013 Q3
8 quarters
HRI icon
4
Herc Holdings
HRI
$4.12B
$656M 7.39%
13,063,860
-915,874
-7% -$47.9M
2014 Q1
6 quarters
AGN
5
DELISTED
Allergan plc
AGN
$513M 5.78%
1,886,931
+268,546
+17% +$82.5M
2013 Q4
7 quarters
CSC
6
DELISTED
Computer Sciences
CSC
$450M 5.07%
17,399,752
-1,674,493
-9% -$45.2M
2014 Q4
3 quarters
TWC
7
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
$422M 4.76%
2,354,120
– –
2015 Q2
1 quarter
BAX icon
8
Baxter International
BAX
$12.8B
$413M 4.66%
+12,580,576
New +$476M
2015 Q3
0 quarters
MSFT icon
9
Microsoft
MSFT
$3.96T
$341M 3.84%
+7,697,273
New +$346M
2015 Q3
0 quarters
QVCGA
10
DELISTED
QVC Group Inc Series A
QVCGA
$326M 3.68%
+166,452
New +$228M
2015 Q3
0 quarters
TWX
11
DELISTED
Time Warner Inc
TWX
$275M 3.11%
4,006,794
-658,661
-14% -$51.7M
2015 Q1
2 quarters
LGF
12
DELISTED
Lions Gate Entertainment
LGF
$264M 2.98%
7,180,864
-2,829,226
-28% -$107M
2015 Q1
2 quarters
BKD icon
13
Brookdale Senior Living
BKD
$2.41B
$236M 2.66%
10,262,144
+1,280,599
+14% +$37.8M
2015 Q1
2 quarters
STRZA
14
DELISTED
Starz - Series A
STRZA
$207M 2.34%
5,556,947
-2,036,928
-27% -$81.7M
2015 Q1
2 quarters
MAT icon
15
Mattel
MAT
$4.76B
$196M 2.21%
+9,311,139
New +$218M
2015 Q3
0 quarters
ZTS icon
16
Zoetis
ZTS
$31.1B
$160M 1.81%
+3,894,424
New +$181M
2015 Q3
0 quarters
ARMK icon
17
Aramark
ARMK
$14.4B
$98.4M 1.11%
+4,599,597
New +$105M
2015 Q3
0 quarters
SBH icon
18
Sally Beauty Holdings
SBH
$1.51B
$92.8M 1.05%
+3,906,780
New +$108M
2015 Q3
0 quarters
K icon
19
DELISTED
Kellanova
K
$65.3M 0.74%
+1,044,818
New +$65.2M
2015 Q3
0 quarters
SPY icon
20
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$813B
$47.9M 0.54%
+250,000
New +$50.7M
2015 Q3
0 quarters
MBLY icon
21
DELISTED
Mobileye N.V.
MBLY
$45.2M 0.51%
993,275
– –
2015 Q2
1 quarter
RAX
22
DELISTED
Rackspace Hosting Inc
RAX
$44.8M 0.51%
1,815,393
-9,184,607
-83% -$296M
2014 Q3
4 quarters
ASH icon
23
CALL
Ashland
ASH
$3.27B
$25.2M 0.28%
+511,000
New +$27.8M
2015 Q3
0 quarters
GLNG icon
24
Golar LNG
GLNG
$4.7B
$17.3M 0.19%
619,449
-2,013,552
-76% -$78M
2014 Q4
3 quarters
FIS icon
25
Fidelity National Information Services
FIS
$18.3B
$13.4M 0.15%
+200,000
New +$13.3M
2015 Q3
0 quarters
1
2 3

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Jana Partners's Q3 2015 Portfolio in Review

As of Q3 2015, Jana Partners held 57 positions worth $8.87B, down 47% from $16.8B the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Jana Partners withdrew a net $2.67B in Q3 2015, closing 26 positions and reducing 9 holdings. Its most notable exit was eBay, an estimated $693M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 28% of assets, up from 13% a quarter earlier, followed by Technology and Consumer Staples.

Against the trend, Jana Partners opened a new position in Baxter International worth $413M.

  • Jana Partners's largest Q3 2015 buy was Baxter International: 12,580,576 shares worth $413M.
  • Jana Partners added most to Conagra Brands in Q3 2015, an estimated $821M increase.
  • Jana Partners's biggest Q3 2015 reduction was Rackspace Hosting Inc, cutting an estimated $296M.
  • Jana Partners fully exited eBay in Q3 2015, selling an estimated $693M.
  • Jana Partners's ten largest holdings make up 79% of its $8.87B portfolio in Q3 2015.
  • Jana Partners opened 16 new positions and closed 26 in Q3 2015.
  • Jana Partners's portfolio value fell 47% quarter-over-quarter to $8.87B.

Based on Jana Partners's 13F filing for Q3 2015, filed 16 Nov 2015.