JANA Partners Management, LP In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), JANA Partners Management, LP reported 10 stock positions worth $1.9 billion . Its top holding was Lamb Weston (LW) at 24.9% of the portfolio, followed by Trimble (TRMB, 15.4% ) and Mercury Systems (MRCY, 15.2% ). Compared with Q3 2024, it opened 1 new position, sold out of 2, added to 2 and reduced 4. The biggest buy was Lamb Weston (LW, shares +102% ) and the biggest sale an exit from Frontier Communications Pare (FYBR).
Location NEW YORK, NY
CIK 0001998597
Portfolio Value $1.9B (Q4 2024) Holdings 10 stocks · $1.9B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2024 LW Lamb Weston Holdings Inc. 7,131,339 $476.6M Add +102.2% TRMB Trimble Inc. 4,178,088 $295.2M Reduce -14.4% MRCY Mercury Systems Inc. 6,941,565 $291.5M No change SPY SS SPDR S&P 500 ETF Trust-US 429,263 $251.6M Reduce -10.4% MKL Markel Group Inc. 108,926 $188.0M New THS Treehouse Foods Inc. 4,910,950 $172.5M No change RPD RAPID7 Inc. 3,690,129 $148.5M Add +0.9% FIS Fidelity National Info Serv 496,895 $40.1M Reduce -68.7% WOLF Wolfspeed Inc. 4,988,216 $33.2M Reduce -19.1% EHAB Enhabit Inc. 2,137,145 $16.7M No change
Options reported separately and not counted above: MKL calls ($119.1M).
Portfolio Sells Q3 2024 → Q4 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▲ FYBR Frontier Communications Pare Sold out 0.00% −7.82 FIS Fidelity National Info Serv Reduce -68.7% 2.10% −5.38 SPY SS SPDR S&P 500 ETF Trust-US Reduce -10.4% 13.14% −2.32 WOLF Wolfspeed Inc. Reduce -19.1% 1.74% −1.63 TRMB Trimble Inc. Reduce -14.4% 15.42% −1.63 FTRE Fortrea Holdings Inc. Sold out 0.00% −0.78
Portfolio Buys Q3 2024 → Q4 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▼ LW Lamb Weston Holdings Inc. Add +102.2% 24.90% +12.05 MKL Markel Group Inc. New 9.82% +9.82 RPD RAPID7 Inc. Add +0.9% 7.76% −0.45
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ LW Lamb Weston Holdings Inc. call Sold out 2,302,000 $149.0Mbefore exit MKL Markel Group Inc. call New 69,000 $119.1M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 10 $1.9B MRCY, COO, SPY, LW, FISV Q1 2026 Amended 11 $1.7B MRCY, COO, FISV, SPY, LW Q4 2025 12 $1.9B MRCY, COO, SPY, LW, MKL Q3 2025 12 $2.1B MRCY, LW, MKL, SPY, COO Q2 2025 10 $2.0B LW, MRCY, SPY, MKL, TRMB Q1 2025 10 $1.9B LW, SPY, MRCY, MKL, TRMB Q4 2024 10 $1.9B LW, TRMB, MRCY, SPY, MKL Q3 2024 11 $1.8B TRMB, SPY, MRCY, LW, THS Q2 2024 12 $1.7B FYBR, SPY, FIS, TRMB, MRCY Q1 2024 10 $1.8B SPY, FIS, TRMB, FYBR, MRCY