Data as of Q4 2025 (Dec 31, 2025)

JANA Partners Management, LP

Barry Rosenstein•CIK: 1998597•Filing: Q4 2025

**JANA Partners Management, LP** Managed by Barry Rosenstein, JANA Partners oversees $1.9B in assets across a concentrated portfolio of 12 positions. The fund exhibits significant conviction in its top holdings, notably maintaining a substantial allocation to MRCY at $362.1M and COO at $288.5M. Further diversification is evident through core positions in SPY ($266.9M) and LW ($209.8M). This structure suggests a focused, large-cap tilt with high conviction in select market leaders.

Total AUM
$1.9B
QoQ Performance
-7.0%
Positions
12
Top 10 Concentration
97.2%
Latest Filing
Q4 2025

Top Holdings Allocation

MRCY
COO
SPY
LW
MKL
FISV
THS
ALKT
MRCY18.8%
COO15.0%
SPY13.9%
LW10.9%
MKL9.1%
FISV7.8%
THS7.1%
ALKT5.9%

📈 Biggest Buys

FISV
FISERV INC
NEW
7.8% of portfolio
COO
COOPER COS INC
+44.6%
15.0% of portfolio
ALKT
ALKAMI TECHNOLOGY INC
+158.6%
5.9% of portfolio
RPD
RAPID7 INC
+3.7%
5.3% of portfolio
SPY
SPDR S&P 500 ETF TR
+1.2%
13.9% of portfolio

📉 Biggest Sells

MKL
MARKEL GROUP INC
-44.9%
9.1% of portfolio
MRCY
MERCURY SYS INC
-16.8%
18.8% of portfolio
FRPT
FRESHPET INC
-46.8%
1.8% of portfolio
EHAB
ENHABIT INC
-2.2%
1.0% of portfolio

Sector Breakdown

Other86.1%
ETF13.9%

🚪 Exited Positionssold since Q3 2025

TRMB
TRIMBLE INC
SOLD
$153.6M

Changes from Q3 2025

NEW1 new position
↑5 increased
↓4 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023

📌 Top Holdings

MRCY18.8%
MERCURY SYS INC
$362.1M
COO15.0%
COOPER COS INC
$288.5M
SPY13.9%
SPDR S&P 500 ETF TR
$266.9M
LW10.9%
LAMB WESTON HLDGS INC
$209.8M
MKL9.1%
MARKEL GROUP INC
$174.6M

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