Chart of the month: JANA: Five years of outsized returns


The value-oriented JANA Partners has made a solid start to 2006, rising 1.9% for April to total 5.54% for the year. Portfolio managers Barry Rosenstein and Gary Claar recently celebrated five years of success: Since inception in April 2001, JANA has returned 202.81%, compared with 63.03% for the Absolute Return Event-Driven Index. A long position in Kerr McGee continues to be a big winner for the $5 billion fund. Based on a similar thesis, JANA this year acquired a 9% stake in Houston Exploration, which is selling its Gulf of Mexico properties. The fund also recently made news