Summary of Jana Partners 13F; New Stakes in AA, APC, BEAS, CNET, Ups Stake in YHOO

February 15, 2008 2:44 PM EST
Summary of Barry Rosenstein's Jana Partners for the quarter ended December 31, 2007, compared to the quarter ended Sept 30, 2007.

New Positions:
Acuity Brands (NYSE: AYI) new 200,000 share stake
AK Steel (NYSE: AKS) new 606,261 share stake
Alcoa (NYSE: AA) new 1,000,000 share stake
Allegheny Technologies (NYSE: ATI) new 120,000 share stake
Anadarko Petroleum (NYSE: APC) new 4,311,709 share stake
Axcan Pharma (Nasdaq: AXCA) new 167,542 share stake
BEA Systems (Nasdaq: BEAS) new 5,748,483 share stake
Carrizo Oil (Nasdaq: CRZO) 428,397 share stake
Cisco Systems (Nasdaq: CSCO) 1,500,000 share stake
CNET Networks (Nasdaq: CNET) 10,267,347 share stake
Comfort Systems (NYSE: FIX) 340,000 share stake
Freeport-McMoran Copper (NYSE: FCX) 746,700 share stake
GenTek Inc. (Nasdaq: GETI) 415,807 share stake
Haynes International (Nasdaq: HAYN) 75,000 share stake
Hess Corp. (NYSE: HES) 2,337,721 share stake and 100,000 shares through calls
Holly Corp. (NYSE: HOC) 335,00 share stake
Macy's (NYSE: M) 250,000 share stake
NBTY (NYSE: NTY) 430,544 share stake
Nucor Corp. (NYSE: NUE) 950,000 share stake
Rowan Companies (NYSE: RDC) 210,000 share stake
Sandridge Energy (NYSE: DS) 125,000 share stake
Starwood Hotels & Resorts Worldwide (NYSE: HOT) 500,000 share stake
Superior Essex (Nasdaq: SPSX) 567,748 share stake
Websense (Nasdaq: WBSN) 492,011 share stake
Zimmer Holdings (NYSE: ZMH) 1,332,395 share stake

Raised Positions:
American Italian Pasta Company (Nasdaq: AITP) from 2,546,000 shares to 2,627,723 shares
Coleman Cable (Nasdaq: CCIX) from 2,387,000 shares to 2,500,000 shares
Comstock Resources (NYSE: CRK) from 330,000 shares to 607,600 shares
Convergys Corp. (NYSE: CVG) from 2,259,271 shares to 6,111,701 shares
Copart (Nasdaq: CPRT) from 4,469,733 shares to 4,490,540 shares
Corel Corp. (Nasdaq: CREL) from 936,824 shares to 1,172,599 shares
EMCOR Group (NYSE: EME) from 405,800 shares to 885,000 shares
Equitable Resources (NYSE: EQT) from 1,872,600 shares to 2,248,071 shares
GMX Resources (Nasdaq: GMXR) from 310,000 shares to 579,677 shares
KBR Inc. (NYSE: KBR) from 7,601,472 shares and 200,000 shares through puts to 8,385,417 shares and 0 put contracts
Merck & Co (NYSE: MRK) from 2,151,800 shares to 2,366,429 shares
Northwest Airlines (NYSE: NWA) from 996,125 shares to 1,141,006 shares
PRG-Schultz International (Nasdaq: PRGX) from 621,500 shares to 2,125,000 shares
Scientific Games (Nasdaq: SGMS) from 1,497,027 shares to 1,987,253 shares
Yahoo! (Nasdaq: YHOO) from 308,400 shares to 1,250,000 shares

Lowered Positions:
ACI Worldwide (Nasdaq: ACIW) from 330,700 shares to 0 shares
Alliance One International Holdings (NYSE: AOI) from 2,840,000 shares to 0 shares
AMR Corp. (NYSE: AMR) from 719,618 shares to 0 shares
Armstrong World Industries (NYSE: AWI) from 723,000 shares to 100,000 shares
Avis Budget Group (NYSE: CAR) from 1,778,719 shares to 0 shares
Bakbone Software (Nasdaq: BKBO) from 1,000,000 shares to 0 shares
Broadridge Financial Solutions (NYSE: BR) from 4,551,100 shares to 0 shares
Brookfield Asset Management (NYSE: BAM) from 488,440 shares to 0 shares
Citigroup (NYSE: C) from 1,001,500 shares to 0 shares
Comcast (Nasdaq: CMCSK) from 5,450,000 shares to 0 shares
Comcast (Nasdaq: CMCSA) from 425,000 shares to 0 shares
CommScope (NYSE: CTV) from 1,707,052 shares to 963,975 shares
Continental Airlines (NYSE: CAL) from 515,400 shares to 0 shares
Corrections Corp. of America (NYSE: CXW) from 4,814,460 shares to 3,534,195 shares
CSX Corp. (NYSE: CSX) from 7,573,513 shares and 100,00 shares in the form of puts to 6,598,392 shares and 0 put contracts
DaVita (NYSE: DVA) from 2,468,150 shares to 2,311,117 shares
Delta Air Lines (NYSE: DAL) from 119,066 shares to 112,466 shares
Focus Media (Nasdaq: FMCN) from 1,784,792 shares to 0 shares
Forest Labs (NYSE: FRX) from 4,000,560 shares to 1,832,086 shares
Forest Oil (NYSE: FST) from 3,918,738 shares to 2,701,815 shares
FreightCar America (Nasdaq: RAIL) from 175,000 shares to 0 shares
Gerber Scientific (NYSE: GRB) from 767,096 shares to 0 shares
Goodyear Tire & Rubber (NYSE: GT) from 1,752,621 shares to 500,000 shares
Great Atlantic & Pacific Tea Company (NYSE: GAP) from 1,359,922 shares to 1,339,522 shares
Horizon Lines (NYSE: HRZ) from 750,000 shares to 0 shares
i2 Technologies (Nasdaq: ITWO) from 249,000 shares to 0 shares
Idearc (NYSE: IAR) from 2,446,534 shares to 0 shares
infoUSA Inc. (Nasdaq: IUSA) from 2,092,515 shares to 1,517,668 shares
Ingersoll-Rand (NYSE: IR) from 7,268,026 shares and 200,000 shares through puts to 2,922,537 shares and 0 put contracts
Innophos Holdings (Nasdaq: IPHS) from 905,500 shares to 460,000 shares
Insteel Industries (Nasdaq: IIIN) from 194,100 shares to 0 shares
Kansas City Southern (NYSE: KSU) from 3,142,187 shares to 2,818,687 shares
Kimball International (Nasdaq: KBALB) from 300,000 shares to 0 shares
Lehman Brothers (NYSE: LEH) from 1,00,000 shares to 0 shares
Limited Brands (NYSE: LTD) from 3,497,934 shares to 0 shares
LSI Corp. (NYSE: LSI) from 33,139,483 shares to 0 shares
Maximus Inc. (NYSE: MMS) from 3,525,836 shares to 1,097,206 shares
Metalico (AMEX: MEA) from 2,142,857 shares to 0 shares
Mirant Corp. (NYSE: MIR) from 9,740,045 shares and 250,00 shares through puts to 6,016,394 shares and no put contracts
MoneyGram International (NYSE: MGI) from 64,970 shares to 0 shares
Monster Worldwide (Nasdaq: MNST) from 800,000 shares to 0 shares
NewMarket Corp. (NYSE: NEU) from 547,251 shares to 200,000 shares
Nextwave Wireless (Nasdaq: WAVE) from 382,988 shares to 0 shares
NRG Energy (NYSE: NRG) from 2,635,100 shares to 2,598,200 shares
PDL Biopharma (Nasdaq: PDLI) from 5,306,291 shares to 0 shares
JC Penney (NYSE: JCP) from 1,522,068 shares to 0 shares
Pinnacle Gas Resources (Nasdaq: PINN) from 119,666 shares to 0 shares
Potlatch Corp. (NYSE: PCH) from 240,124 shares to 0 shares
QLT Inc. (Nasdaq: QLTI) from 5,697,169 shares to 3,577,269 shares
QUALCOMM (Nasdaq: QCOM) from 4,013,500 shares to 0 shares
RCN Corp. (Nasdaq: RCNI) from 2,317,596 shares to 997,300 shares
SAIC Inc. (NYSE: SAI) from 1,629,629 shares to 1,058,629 shares
Sealed Air Corp. (NYSE: SEE) from 1,002,595 shares to 0 shares
Sykes Enterprises (Nasdaq: SYKE) from 123,475 shares to 0 shares
TD Ameritrade (Nasdaq: AMTD) from 9,801,000 shares to 344,116 shares
Tejon Ranch (NYSE: TRC) from 439,432 shares to 438,432 shares
Tesoro Corp. (NYSE: TSO) from 50,000 shares to 0 shares
Teva Pharmaceuticals (Nasdaq: TEVA) from 1,695,618 shares to 0 shares
Titan International (NYSE: TWI) from 300,000 shares to 0 shares
Trinity Industries (NYSE: TRN) from 2,213,819 shares to 640,519 shares
US Airways (NYSE: LCC) from 556,900 shares to 0 shares
Waste Management (NYSE: WMI) from 2,412,296 shares to 0 shares
Williams Companies (NYSE: WMB) from 5,285,341 shares and 150,000 shares through puts to 4,559,241 shares and 0 shares
Wyndham Worldwide (NYSE: WYN) from 818,100 shares to 0 shares
XOMA Ltd. (Nasdaq: XOMA) from 900,000 shares to 0 shares

Maintained Positions:
Arcadia Resources (NYSE: KAD) 15,235,396 shares
JMP Group (NYSE: JMP) 143,333 shares
Uluru Inc. (AMEX: ULU) 6,064,721 shares

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