BOSTON (TheStreet) -- Barry Rosenstein, founder of Jana Partners, is best known as an activist investor. The hedge fund manager made intriguing moves in the fourth quarter, buying more shares of Apple
In his role as an activist investor, Rosenstein has most recently targeted McGraw-Hill
McGraw-Hill has been displaced as the hedge fund's largest position after Rosenstein bought 16.6 million shares of Marathon Petroleum in the fourth quarter. The new position carried a market value of about $553 million and a portfolio weighting of nearly 25%. McGraw-Hill slipped to second place in Rosenstein's portfolio with a weighting of $395 million after the fund sold nearly 1.5 million shares during the quarter.
Rosenstein has made waves as an activist investor in other companies, including El Paso
Rosenstein slashed his stake in El Paso, selling more than 12 million shares of the company after it rallied on a buyout offer from Kinder Morgan
Hedge funds that manage more than $100 million are required to disclose their equity holdings, options and convertible debt on a Form 13F filed to the Securities and Exchange Commission within 45 days of the end of a quarter. Funds aren't required to report short positions betting on declines. Jana Partners ended the fourth quarter with 28 reported holdings with a market value of $2.1 billion.
>>View Jana Partners' Portfolio
Rosenstein's 13 new buys in the fourth quarter span a number of sectors, from energy to technology to gold. In addition to Marathon Petroleum, Jana initiated new stakes in Energizer Holdings
Jana Partners also added to six positions, including Apple, Expedia
On the other hand, Jana Partners unloaded its stake in nine companies, including Coca-Cola Enterprises
Meanwhile, in addition to McGraw-Hill, Rosenstein cut his hedge fund's position in Sunoco
-- Written by Robert Holmes in Boston.
>To contact the writer of this article, click here: Robert Holmes.
|Barry Rosenstein of Jana Partners hedge fund.|