Tuesday, 24 November 2015
Last updated 20 hours ago
Jul 23 2012 | 12:00pm ET
Activist hedge fund JANA Partners had an impressive first half.
The firm said that its flagship Master Fund rose 11.2% in the first half, despite a second-quarter gain of just 0.4%. That return came amidst a strong headwind that pushed the Standard & Poor's 500 Index down 2.8% during the quarter.
But big losses by portfolio holdings Hess Corp. and Visteon Corp. trimmed JANA's gains. The "detractors" lost 26% and 29% in the second quarter, respectively, Dow Jones Newswires reports.
The letter to investors also highlighted some of JANA's ongoing themes, such as its 0.9% stake in Coca-Cola Enterprises. "European macro fears have given us the opportunity to return CCE to JANA's top five positions," the letter wrote.
JANA also said it was betting on an unidentified global supply company and against some tobacco companies, "a big box retailer whose category is being entered by Amazon" and "a hyped-up software company with very opaque accounting."
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…