Culling Picks From a Blazing Portfolio

Studying 13F filings -- the quarterly statements that reveal holdings of hedge funds and notable investors -- is a wise move. It can be particularly interesting to calculate price changes in these stocks, as this can approximate the returns seen over that period. Granted, we can't track a fund's short positions -- or long positions that are not disclosed on the 13F -- and we don't know precisely when during the quarter a fund bought or sold shares.

But, with all that said, our estimates are that JANA Partners's long portfolio returned 17% in the first half of 2012 and an additional 16% in the third quarter of the year. According to this, the fund is one of the highest-returning funds in our database. JANA, a value and event-driven fund, is managed by Barry Rosenstein....502 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.