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


( 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


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


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


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(RKT) - Get Rocket Cos. Inc. Report


Sealed Air

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Lone Pine Resources



Liberty Global

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Strayer Education

(STRA) - Get Strategic Education, Inc. Report


Savient Pharmaceuticals



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


(SUN) - Get Sunoco LP Report


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Coca-Cola Enterprises



Hertz Global

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


Liberty Starz

( LSTZA) and

Opko Health

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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


( VIA-B),


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




and Charles River Labs.

Meanwhile, Rosenstein sold completely out of stakes in

Williams Cos.

(WMB) - Get Williams Companies, Inc. Report


Dollar Thrift

( DTG),


(PFE) - Get Pfizer Inc. Report

, and


(CMCSA) - Get Comcast Corporation Class A Report

, among others.

-- Written by Robert Holmes in Boston


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