JANA Partners Management, LP

Name: JANA Partners Management, LP 13F holdings, Q4 2025
Creator: JANA Partners Management, LP
Published: 2026-02-17

Q2 2026Q1 2026Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), JANA Partners Management, LP reported 12 stock positions worth $1.9 billion. Its top holding was Mercury Systems (MRCY) at 18.8% of the portfolio, followed by Cooper Cos (COO, 15.0%) and SS SPDR S&P 500 ETF Trust-US (SPY, 13.9%). Compared with Q3 2025, it opened 1 new position, sold out of 1, added to 5 and reduced 4. The biggest buy was a new position in Fiserv (FISV) and the biggest sale an exit from Trimble (TRMB).

Most Recent 13F: Q2 2026
Location: NEW YORK, NY
CIK: 0001998597
Portfolio Value: $1.9B (Q4 2025)
SEC Filing: 0000902664-26-001069 ↗ filed Feb 17, 2026

Holdings Value

Holdings 12 stocks · $1.9B


MRCY Mercury Systems Inc.	18.84%	4,959,481	$362.1M	Reduce -16.8%
COO The Cooper Cos Inc.	15.01%	3,519,620	$288.5M	Add +44.6%
SPY SS SPDR S&P 500 ETF Trust-US	13.89%	391,337	$266.9M	Add +1.2%
LW Lamb Weston Holdings Inc.	10.92%	5,008,635	$209.8M	No change
MKL Markel Group Inc.	9.08%	81,219	$174.6M	Reduce -44.9%
FISV Fiserv Inc.	7.85%	2,245,520	$150.8M	New
THS Treehouse Foods Inc.	7.15%	5,821,337	$137.3M	No change
ALKT Alkami Technology Inc.	5.88%	4,894,665	$112.9M	Add +158.7%
RPD RAPID7 Inc.	5.33%	6,743,653	$102.5M	Add +3.7%
FUN Six Flags Entertainment Corp.	3.29%	4,116,099	$63.1M	Add +1.6%
FRPT Freshpet Inc.	1.77%	557,390	$34.0M	Reduce -46.8%
EHAB Enhabit Inc.	1.00%	2,090,412	$19.3M	Reduce -2.2%

Portfolio Sells Q3 2025 → Q4 2025


TRMB Trimble Inc.	Sold out	0.00%	−7.44
MKL Markel Group Inc.	Reduce -44.9%	9.08%	−4.56
MRCY Mercury Systems Inc.	Reduce -16.8%	18.84%	−3.49
FRPT Freshpet Inc.	Reduce -46.8%	1.77%	−1.03
EHAB Enhabit Inc.	Reduce -2.2%	1.00%	+0.17

Portfolio Buys Q3 2025 → Q4 2025


FISV Fiserv Inc.	New	7.85%	+7.85
COO The Cooper Cos Inc.	Add +44.6%	15.01%	+6.93
ALKT Alkami Technology Inc.	Add +158.7%	5.88%	+3.60
SPY SS SPDR S&P 500 ETF Trust-US	Add +1.2%	13.89%	+1.42
RPD RAPID7 Inc.	Add +3.7%	5.33%	−0.57
FUN Six Flags Entertainment Corp.	Add +1.6%	3.29%	−1.17

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	10	$1.9B	MRCY, COO, SPY, LW, FISV
Q1 2026Amended	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