Insight into Jana Partners (Trades, Portfolio)' Latest 13F Filing for Q2 2024
Introduction to Jana Partners (Trades, Portfolio)
Jana Partners (Trades, Portfolio) LLC, established in 2001 by Barry Rosenstein, is a New York-based investment management firm known for its value-oriented, event-driven investment strategy. The firm focuses on identifying undervalued companies poised for significant value unlocking through specific catalysts. Jana Partners (Trades, Portfolio) is not just a passive investor; it often engages actively with the management of the companies it invests in, advocating for changes that enhance shareholder value. The firm's investment approach spans both long and short positions across various capital structures, including equity and debt.
Summary of New Buys
Jana Partners (Trades, Portfolio) added a total of 3 stocks to its portfolio in the second quarter of 2024. The additions include:
- Rapid7 Inc (RPD, Financial), with 2,724,386 shares, making up 6.89% of the portfolio and valued at $117.78 million.
- BlackLine Inc (BL, Financial), comprising 1,154,435 shares or approximately 3.27% of the portfolio, with a total value of $55.93 million.
- Fortrea Holdings Inc (FTRE, Financial), holding 690,000 shares, accounting for 0.94% of the portfolio and valued at $16.10 million.
Key Position Increases
Jana Partners (Trades, Portfolio) also increased its stakes in a total of 3 stocks, notable among them are:
- Wolfspeed Inc (WOLF, Financial), with an additional 1,608,052 shares, bringing the total to 6,165,933 shares. This adjustment represents a significant 35.28% increase in share count, impacting the current portfolio by 2.14%, and valued at $140.34 million.
- Trimble Inc (TRMB, Financial), with an additional 416,469 shares, bringing the total to 4,177,544. This adjustment represents an 11.07% increase in share count, valued at $233.61 million.
Summary of Sold Out Positions
Jana Partners (Trades, Portfolio) completely exited one holding in the second quarter of 2024, as detailed below:
- Freshpet Inc (FRPT, Financial): Jana Partners (Trades, Portfolio) sold all 1,093,477 shares, resulting in a -6.92% impact on the portfolio.
Key Position Reductions
Jana Partners (Trades, Portfolio) also reduced positions in 4 stocks. The most significant changes include:
- Reduced S&P 500 ETF TRUST ETF (SPY, Financial) by 241,800 shares, resulting in a -35.52% decrease in shares and a -6.91% impact on the portfolio. The stock traded at an average price of $523.39 during the quarter and has returned 4.06% over the past 3 months and 14.04% year-to-date.
- Reduced Fidelity National Information Services Inc (FIS, Financial) by 296,199 shares, resulting in an -8.61% reduction in shares and a -1.2% impact on the portfolio. The stock traded at an average price of $74.03 during the quarter and has returned 3.80% over the past 3 months and 31.57% year-to-date.
Portfolio Overview
As of the second quarter of 2024, Jana Partners (Trades, Portfolio)'s portfolio included 12 stocks. The top holdings were 14.67% in Frontier Communications Parent Inc (FYBR, Financial), 13.97% in S&P 500 ETF TRUST ETF (SPY), 13.85% in Fidelity National Information Services Inc (FIS), 13.66% in Trimble Inc (TRMB, Financial), and 10.93% in Mercury Systems Inc (MRCY, Financial). The holdings are mainly concentrated in 5 of all the 11 industries: Technology, Communication Services, Industrials, Consumer Defensive, and Healthcare.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
