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JANA Partners Management, LP

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13F filer, CIK 1998597, NEW YORK, NY

JANA Partners Management, LP reported $1,921,781,130 across 12 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 97.23% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000902664-26-001069

Period
2025-12-31
Reported value
$1.92B
Holdings
12
Top 10 weight
97.23%
New
1
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
FISVnew+2,245,520$151M
COOadded+1,085,013$88.9M
ALKTadded+3,002,252$69.3M
RPDadded+241,545$3.67M
SPYadded+4,700$3.21M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
TRMBexited-1,881,399-$154M
MKLreduced-66,192-$142M
MRCYreduced-1,000,000-$73M
FRPTreduced-490,746-$29.9M
EHABreduced-46,733-$431K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0000902664-26-001069, largest first. % of portfolio is the value over $1,921,781,130, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
MRCYMERCURY SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,941,565 shares; 2024Q4: 6,941,565 shares; 2025Q1: 6,941,565 shares; 2025Q2: 6,753,413 shares; 2025Q3: 5,959,481 shares; 2025Q4: 4,959,481 shares 4,959,481$362M18.84%-1,000,000Timeline
COOCOOPER COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,434,607 shares; 2025Q4: 3,519,620 shares 3,519,620$288M15.01%+1,085,013Timeline
SPYSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 478,963 shares; 2024Q4: 429,263 shares; 2025Q1: 540,353 shares; 2025Q2: 513,053 shares; 2025Q3: 386,637 shares; 2025Q4: 391,337 shares 391,337$267M13.89%+4,700Timeline
LWLAMB WESTON HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,526,754 shares; 2024Q4: 7,131,339 shares; 2025Q1: 7,985,426 shares; 2025Q2: 7,232,219 shares; 2025Q3: 5,008,635 shares; 2025Q4: 5,008,635 shares 5,008,635$210M10.92%0Timeline
MKLMARKEL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 108,926 shares; 2025Q1: 156,022 shares; 2025Q2: 151,432 shares; 2025Q3: 147,411 shares; 2025Q4: 81,219 shares 81,219$175M9.08%-66,192Timeline
FISVFISERV INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 2,245,520 shares 2,245,520$151M7.85%newTimeline
THSTREEHOUSE FOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,910,950 shares; 2024Q4: 4,910,950 shares; 2025Q1: 4,910,950 shares; 2025Q2: 5,821,337 shares; 2025Q3: 5,821,337 shares; 2025Q4: 5,821,337 shares 5,821,337$137M7.15%0Timeline
ALKTALKAMI TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,892,413 shares; 2025Q4: 4,894,665 shares 4,894,665$113M5.88%+3,002,252Timeline
RPDRAPID7 INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,655,540 shares; 2024Q4: 3,690,129 shares; 2025Q1: 4,106,056 shares; 2025Q2: 5,729,914 shares; 2025Q3: 6,502,108 shares; 2025Q4: 6,743,653 shares 6,743,653$103M5.33%+241,545Timeline
FUNSIX FLAGS ENTERTAINMENT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,049,940 shares; 2025Q4: 4,116,099 shares 4,116,099$63.1M3.29%+66,159Timeline
FRPTFRESHPET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 734,763 shares; 2025Q2: 1,006,763 shares; 2025Q3: 1,048,136 shares; 2025Q4: 557,390 shares 557,390$34M1.77%-490,746Timeline
EHABENHABIT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,137,145 shares; 2024Q4: 2,137,145 shares; 2025Q1: 2,137,145 shares; 2025Q2: 2,137,145 shares; 2025Q3: 2,137,145 shares; 2025Q4: 2,090,412 shares 2,090,412$19.3M1%-46,733Timeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
TRMBTRIMBLE INC1,881,399$154Mshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000902664-26-001069 base2026-02-17acceptance time not in the bulk data set