Jana Adds 11 New Stakes Including Mattel While Selling EBay

  • Hedge fund also discloses holdings in Zoetis, Aramark
  • Sometime activist has previously targeted Qualcomm, PetSmart

Hedge fund Jana Partners LLC, whose founder Barry Rosenstein at times mounts activist campaigns at targeted companies, added new stakes in toymaker Mattel Inc., animal-health group Zoetis Inc. and facilities manager Aramark, among 11 new investments the firm disclosed Monday.

The fund also sold its stakes in 20 companies, including Johnson Controls Inc., EBay Inc., and Starwood Hotels & Resorts Worldwide Inc.

Jana earlier this month discussed new stakes in Microsoft Corp. and health-care products manufacturer Baxter International Inc., in an investor letter seen by Bloomberg News. It owns 12.6 million Baxter shares, or 2.3 percent, and 7.7 million Microsoft shares, almost 0.1 percent, according to a regulatory filing Monday. Both companies are being targeted by other activists.

While most of Jana’s investments aren’t active -- where it amasses an equity stake to try and pressure executives and directors to make changes to boost shareholder returns -- it’s those campaigns that often attract the most attention.

The firm, which says it manages about $10 billion in investments and commitments, has targeted companies including Qualcomm Inc., Computer Sciences Corp., PetSmart Inc., Walgreen Co., Hertz Global Holdings Inc., Apache Corp., Oil States International Inc. and URS Corp.

Mattel shares rose as much as 9.6 percent to $26.06 in New York trading after Jana’s stake was disclosed. That’s the toymaker’s biggest intraday gain since July 2012.

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