BOSTON (TheStreet) -- Barry Rosenstein, founder of New York-based hedge fund Jana Partners, is best known for his activist role in investing. But the hedge-fund manager made some intriguing moves in the second quarter, notably buying shares of Google (GOOG) - Get Alphabet Inc. Class C Report while cutting his stake in gold.

Rosenstein has made waves as an activist investor in

El Paso

( EP), which announced earlier this year that it would split in two. Jana Partners was also part of a group that helped thwart a buyout of

Charles River Laboratories

(CRL) - Get Charles River Laboratories International, Inc. Report

. Lately, Rosenstein has targeted

McGraw-Hill

( MHP), the owner of Standard & Poor's. Jana Partners previously initiated a stake in the company and hopes to break it up to unlock value.

Barry Rosenstein of Jana Partners hedge fund.

El Paso is still the hedge fund's largest position, with a market value of $490 million and a portfolio weighting of nearly 25% as of June 30. Jana Partners trimmed its stake in the company during the second quarter, selling 6.2 million shares. El Paso shares have rallied more than 38% this year as of Monday.

Jana Partners added to its position in McGraw-Hill, its second-largest portfolio holding, buying more than 4.6 million shares. The company now represents a 16% portfolio weighting with a market value of $323 million.

Hedge funds that manage more than $100 million are required to disclose their equity holdings, options and convertible debt on a Form 13F filed to the

Securities and Exchange Commission

within 45 days of the end of a quarter. Funds aren't required to report short positions betting on declines. Jana Partners ended the second quarter with 25 reported holdings with a market value of nearly $2 billion.

Rosenstein's new buys in the second quarter span a number of sectors, from oil to media to technology to industrials to pharmaceuticals.

Forest Oil

(FST) - Get FAST ACQUISITION CORP Report

is the most significant of the fund's newest acquisitions, as Rosenstein bought up 3.3 million shares with a market value of $88 million. Shares of the oil and gas company are down 45% in 2011.

Elsewhere, Jana Partners bought 3.9 million shares of

Liberty Interactive

(LINTA)

and 127,890 shares of Google. Both companies represent portfolio weightings of about 3.3% each, according to Jana Partners' latest 13F filing.

Jana's other new buys in the second quarter include

Expedia

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,

Rock-Tenn

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,

Sealed Air

(SEE) - Get Sealed Air Corporation Report

,

Lone Pine Resources

(LPR)

,

Liberty Global

(LBTYA) - Get Liberty Global Plc Class A Report

,

Strayer Education

(STRA) - Get Strategic Education, Inc. Report

and

Savient Pharmaceuticals

(SVNT)

.

In addition to McGraw-Hill, Jana Partners added to positions in

Sunoco

(SUN) - Get Sunoco LP Report

,

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Coca-Cola Enterprises

(CCE)

,

Hertz Global

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,

Apple

(AAPL) - Get Apple Inc. (AAPL) Report

,

Liberty Starz

( LSTZA) and

Opko Health

(OPK) - Get OPKO Health, Inc. Report

.

On the other hand, Jana Partners unloaded some gold, selling about a quarter of its stake in

SPDR Gold Trust

(GLD) - Get SPDR Gold Trust Report

, leaving the hedge fund with 153,000 shares of the gold ETF that carried a market value of $22.4 million as of June 30. The hedge fund also reduced stakes in

Viacom

( VIA-B),

LyondellBasell

(LYB) - Get LyondellBasell Industries NV (LYB) Report

,

Cablevision

(CVC)

and Charles River Labs.

Meanwhile, Rosenstein sold completely out of stakes in

Williams Cos.

(WMB) - Get Williams Companies, Inc. Report

,

Dollar Thrift

( DTG),

Pfizer

(PFE) - Get Pfizer Inc. Report

, and

Comcast

(CMCSA) - Get Comcast Corporation Class A Report

, among others.

-- Written by Robert Holmes in Boston

.

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