Prior Movesmirror the world’s best investors

🪞 Jana

Dormant. This investor last filed a 13F for Jun 2023 and has not filed under this CIK since. The holdings below are that final disclosed book, kept as a historical record; no new predictions are produced for a book that has stopped reporting.

Style
Activist
Disclosed holdings
9
Top pick hit rate
1.7%
Backtest edge
-

Hit rate is measured, not predicted: across 2,030 investor-quarters of walk-forward holdout, the name this model ranked first was the investor’s actual next new buy 1.7% of the time, against 0.62% for a name drawn at random from the same board. That is 2.77x chance. The model ranks the whole board; AUC and the rest of the scoring detail are on the how it works page.

Build a basket from the top picks →

📜 Top disclosed holdings: Jun 2023

TickerCompanyWeightLast change
FRPTFreshpet Inc21.09%✊ Held
THSTreehouse Foods Inc17.90%✊ Held
NEWREURNew Relic Inc15.71%✊ Held
FISFidelity Natl Information Sv15.10%✊ Held
MRCYMercury Sys Inc11.36%➕ Added
SPYSpdr S&P 500 Etf Tr7.32%✊ Held
-Laboratory Corp Amer Hldgs7.25%➖ Trimmed
LDOSLeidos Holdings Inc2.15%🆕 New
EHABUSDEnhabit Inc2.13%✊ Held

Source: SEC Form 13F (public domain), long U.S. equity positions only, disclosed up to 45 days after quarter-end. Top 15 of 9 shown.

💲 Where they bought: accumulation cost

13F shows holdings, not trade prices. Implied average cost is total value ÷ shares; the zone is the price range that quarter, where they accumulated. “vs cost” is today versus that average. This is where they bought, not a future price.

TickerAvg costAccumulation zoneTodayvs cost
FRPT$65.81$60–$71$69.86+6.2%
FIS$54.70$48–$54$40.77-25.5%
MRCY$34.59$32–$52$90.47+161.5%
SPY$443.28$388–$427$771.10+74.0%
LDOS$88.48$74–$91$139.86+58.1%

🧬 Factor fingerprint, the style behind the book

43% of Jana’s day-to-day swings are explained by public, buyable factors (Fama-French 5 + momentum), regressed on their current disclosed book (6 of 8 names, ~421 trading days). Market beta 0.64.

growth
value
large-cap
small-cap
low-quality
quality
contrarian
momentum
aggressive
conservative

⚠️ This is the part the great investors can’t hide: their style is a tilt toward known factors, and every one of these is sold as a cheap index ETF. Buying the factors gets you most of the book for a few basis points. What’s left after the factors (the residual) is noisy on a single concentrated book and is not a reliable edge, read this as transparency about the style you’re copying, not a secret signal. Loadings are in-sample on current static weights, U.S. long positions only. Research, not advice.

🔔 Follow this mirror

New filings and predicted-buy refreshes are published to every reader at once, weekly digest (email) · build a basket.

Prior Moves is a research publication: one impersonal model portfolio per investor, identical for every reader. You place any trades yourself at your own broker. No execution, no custody, no individualised advice.