The founder and activist investor of Jana Partners, Barry Rosenstein, experienced lackluster performances during the last few years that have compelled Barry Rosenstein in 2019 to liquidate 2 of its hedge funds. In 2015, the investment firm of Barry Rosenstein held assets of around $11 billion. Now, the focus of Rosenstein has been moved entirely towards activist investing, and currently, he is managing just his stock portfolio of more than $1.1 billion. The stock-picking strategies of this New York hedge fund comprise purchasing stocks at discounted prices and then unlocking value for its particular shareholders by modifying the business models. Barry Rosenstein is the Jana Partners’ activist investor and wants to maintain board positions. He is also popular for compelling Whole Foods to accept offers coming from the biggest eCommerce giant of the world, Amazon. Probably, he could become richer if he took Amazon’s cash for his stakes of the Whole Foods and buy shares of Amazon with that particular windfall. The shares of Amazon at that time were trading at a rate of less than $1000.
Let’s start with the countdown on the top 10 stock picks of Barry Rosenstein as shared by Insider Monkey. New Relic is a software company which was recently added to the stock portfolio of the investment firm of Barry Rosenstein. The hedge fund has started a stake in New Relic in the Q3 of the year 2020 by buying 546,309 shares of the company with a total value of $30.7 million. This is the 8th biggest stock holding company in the stock portfolio of Jana Partners and it accounts for approximately 2.72% of the entire stock portfolio. Last year, a sharp decline has been observed in the shares of New Relic when it was traded above the level of $100. This underperformance of the share price was taken as a buying opportunity. The year-over-year revenue generation of the company is 13%.
Another long-running and biggest stock holdings of the investor firm Jana Partners is HD Supply Holdings Inc. Although 16% of the HDS shares were sold by the company during the Q3 of 2020, but still it accounts for 4.16% of the entire stock portfolio. There has been observed a 40% rallying of the HDS shares this year that has extended the 5 years share price gains to around 85%. Recently, Home Depot hit a deal to obtain the shares of HDS at the value of $56 per share.
There are a number of other stock picks of Barry Rosenstein as well, you can read those Barry Rosenstein and Jana Partners’ Top Stock Picks in a Yahoo post by Insider Monkey.
