• Jana Nirvana gained 4.5% in the month; Jana Partners rose 2.7%
  • Nirvana is down 5.9% this year; Jana Partners lost 4.1%

Activist investor Barry Rosenstein saw his two hedge funds at Jana Partners rebound in October from four months of losses as stock markets rallied.

Jana Nirvana, which makes bets on or against stocks and credit, gained 4.5 percent in October, cutting declines for 2015 to 5.9 percent, according to an investor letter obtained by Bloomberg. The Jana Partners fund rose 2.7 percent in October, leaving it down 4.1 percent for this year.

A spokesman for the firm declined to comment.

U.S. stocks rallied the most since 2011 in October amid a rebound in raw-materials and energy shares. The gains helped the Standard & Poor’s 500 Index return 2.7 percent this year through Friday. Hedge funds on average have declined 1.6 percent through Oct. 29, according to Chicago-based Hedge Fund Research Inc.

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