Hedge Funds Performance

JANA gains 8.4% in 2010


Bets on cars, cell phones and gold powered the fund's rise in December, but the flagship ended the year with sub-average performance—due, in part, to defensive positions.

The flagship event-driven fund of $2.3 billion JANA Partners profited well from December’s rally but ended the year lagging its peers. The $1.9 billion JANA Partners fund was up 8.4% for the year against an estimated 13.91% rise in the AR Event-Driven Index*.

JANA captured some upside from its long positions in equities in December, while shorts positions cut into these gains. The firm was bullish on consumer discretionary stocks, with a 25.5% net long exposure in this sector. Next was information technology positions, with 13.9% net long. The fund’s gain of 2.1% in December was powered more specifically