Jana Partners LLC bought new stakes in Energizer Holdings Inc. (ENR) and Netflix Inc. (NFLX) last quarter while selling its position in Coca-Cola Enterprises Inc. (CCE), according to a regulatory filing today.
The hedge fund acquired 997,824 shares of battery maker Energizer, based in St. Louis, valued at about $77 million and 648,594 shares of Netflix valued at about $45 million, according to a filing with the U.S. Securities and Exchange Commission. Netflix is an online and mail-order video-rental service based in Los Gatos, California.
Jana, run by Barry Rosenstein and based in New York, sold its stake in bottler Coca-Cola Enterprises in Atlanta valued at about $104 million as of Sept. 30.
Jana is an event-driven fund, meaning it generally invests in companies undergoing changes such as mergers, spinoffs and bankruptcies. The firm oversees about $3 billion in investments and commitments. Charles Penner, a Jana spokesman, declined to comment.
The hedge fund increased its energy holdings last quarter by about 15 percent, data compiled by Bloomberg show. Jana increased its stake in Woodlands, Texas-based Anadarko Petroleum Corp. (APC) by about 370,809 shares during the fourth quarter, making the oil and natural gas exploration and production company the fund’s sixth-largest holding. The fund also sold about 12 million shares in pipeline company El Paso Corp. (EP) during the quarter. The Houston-based company was the fund’s third-largest holding at about 6 percent of assets as of the end of December.
Marathon Petroleum Corp. (MPC) was the fund’s largest holding as of Dec. 31 with 16.6 million shares valued at about $554 million, according to the filing released today. In a separate filing with the SEC on Feb. 10, Jana reported 16 million shares of the Findlay, Ohio-based crude refiner.
Money managers who oversee more than $100 million in U.S. equities must file a Form 13F within 45 days of the end of each quarter to list their holdings in stocks that trade on U.S. exchanges, as well as options and convertible debt.
Hedge funds are lightly regulated pools of capital whose managers can invest in any asset, and share in annual profits.
Margaret Collins in New York at firstname.lastname@example.org.
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