A multi-billion activist hedge fund has reportedly taken a stake in Whole Foods (WFM)

JANA Partners, an activist hedge fund, has built a nearly 9% stake in Whole Foods, according to a report bythe Wall Street Journalciting people familiar with the situation.From the Journal:"Jana, Whole Foods' second-largest shareholder, is planning to press the chain to improve its technology and operations to better compete with larger rivals, shake up its board and find out how much a potential bidder might be willing to pay, according to people familiar with the matter."The fund, which was founded by Barry Rosenstein, has also prepared a line-up of potential board nominees but hasn't yet met with the grocer's current board or execs, the report said.JANA Partners managed about $5 billion in hedge fund assets as of mid-year 2016, according to the HFI Billion Dollar Club, an industry tracker.We have reached out toJANA and Whole Foods and will update if we receive a response.BREAKING: Jana Partners builds 9% stake in Whole Foods, wants to speed up company turnaround & consider possible sale - DJ$WFM up 5%' CNBC Now (@CNBCnow) April 10, 2017Join the conversation about this storyNOW WATCH: These are the watches worn by the most powerful CEOs in the world
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