Notable Investors / Q2 2023
Barry Rosenstein’s Portfolio — JANA PARTNERS LLC
Founder & Managing Partner, JANA Partners
CIK 0001159159 · 767 FIFTH AVENUE, 8TH FLOOR, NEW YORK, NY, 10153 · (212) 455-0900
About Barry Rosenstein
Barry Rosenstein founded JANA Partners, a pioneer of shareholder activism whose campaigns pushed sales or breakups at Whole Foods (sold to Amazon weeks after JANA's stake emerged), PetSmart, and ConAgra.
JANA's 13F is a compact event-driven book where new positions frequently precede public letters; the firm's later strategy focuses squarely on catalyzing strategic transactions.
Portfolio data below is from JANA PARTNERS LLC’s SEC 13F filings. View the full filer page →
Summary
Jana Partners LLC reported $1.3B in U.S.-listed holdings across 9 positions for Q2 2023.
The portfolio is heavily concentrated: FRPT alone accounts for 21.1% of reported value.
Compared with Q1 2023, the fund opened 1 new position and exited 1.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 85.4% · $1.1B
- ETP · 7.3% · $98M
- Other · 7.2% · $97M
Quarter-over-Quarter Changes full breakdown →
vs Q1 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| LDOSLEIDOS HOLDINGS INC | NEW | +324.9K | 324.9K | +$29M | $29M |
| MRCYMERCURY SYS INC | ADDED | +2.40M | 4.39M | +$50M | $152M |
| BLACKSKY TECHNOLOGY INC | SOLD OUT | −2.88M | 0 | −$4M | $0 |
| LABORATORY CORP AMER HLDGS | TRIMMED | −262.4K | 401.9K | −$55M | $97M |
| FRPTFRESHPET INC | ADDED | +275.4K | 4.29M | +$17M | $282M |
| FISFIDELITY NATL INFORMATION SV | ADDED | +214.5K | 3.69M | +$13M | $202M |
| SPDR S&P 500 ETF TR | HELD | −5.4K | 221.1K | +$5M | $98M |
| EHABUSDENHABIT INC | HELD | +43.1K | 2.47M | −$5M | $28M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | FRPTFRESHPET INChistory → | COM | 21.09% | $282M | 4.29M |
| 2 | THSTREEHOUSE FOODS INChistory → | COM | 17.90% | $240M | 4.75M |
| 3 | NEWREURNEW RELIC INChistory → | COM | 15.71% | $210M | 3.21M |
| 4 | FISFIDELITY NATL INFORMATION SVhistory → | COM | 15.10% | $202M | 3.69M |
| 5 | MRCYMERCURY SYS INChistory → | COM | 11.36% | $152M | 4.39M |
| 6 | SPDR S&P 500 ETF TR | TR UNIT | 7.32% | $98M | 221.1K |
| 7 | LABORATORY CORP AMER HLDGS | COM NEW | 7.25% | $97M | 401.9K |
| 8 | LDOSLEIDOS HOLDINGS INChistory → | COM | 2.15% | $29M | 324.9K |
| 9 | EHABUSDENHABIT INChistory → | COM | 2.13% | $28M | 2.47M |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q2 2023 | $1.3B | 9 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $1.3B | 9 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $1.2B | 10 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $1.2B | 11 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $1.2B | 8 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $1.5B | 8 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $1.5B | 12 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $1.2B | 10 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $1.2B | 8 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $1.5B | 8 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $1.5B | 11 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $1.1B | 10 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $1.1B | 9 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $784M | 10 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $1.2B | 10 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $1.2B | 10 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $1.2B | 10 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $1.0B | 9 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $2.2B | 36 | Feb 14, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.