Hedge Funds Performance

JANA remains flat despite activist opportunities


Barry Rosenstein and Gary Claar’s firm, which managed $2.1 billion as of January 2010, is flat for the year. JANA remains encouraged by a number of situations, including bets on Motorola and Questar Corporation.

 Barry Rosenstein
JANA Partners, Barry Rosenstein and Gary Claar’s firm, slowed its losses in June after dropping 5% in May, leaving the firm flat for the year. The JANA Master Fund dropped only six basis points in June, while the AR Event Driven Index fell 0.96%, leaving it up 2.23% for the year.

Despite its losses, JANA is optimistic about the number of activist opportunities, and is particularly encouraged by a recent spinoff by energy company Questar Corporation and a proposed 2011 spinoff at Motorola.

“We have described this market as