Activist firm reveals new stake in Encompass Health, 2 other stocks. : Investment firm Jana Partners (Trades, Portfolio) disclosed its third-quarter portfolio earlier this month. Founded in 2001 by Barry Rosenstein, the New York-based firm takes a value-oriented, event-driven approach to picking stocks, often entering activist positions in order to help unlock value for shareholders. Keeping its criteria in mind, the firm entered three new positions during the quarter, sold out of two stocks and added to or trimmed a number of other existing holdings. Notable trades included a new investment in Encompass Health Corp. (NYSE:EHC), the sale of Hillenbrand Inc HI .