DOSSIER · 13F-HR · Q1 2026

JANA Partners Management, LP

$1.9B in tracked AUM across 12 positions as of Q1 2026.

JP
CIK 0001998597 · last filed Mar 31, 2026
Total AUM
$1.9B
as of Q1 2026
Holdings
12
positions
Whale Score
79
79
strong
Activity
no data
changes this Q
AI Analysis · Q1 2026

JANA Partners Management's $1.92B 13F reflects a concentrated mandate in the 79-whaleScore bracket — a manager that has historically generated alpha through concentrated portfolio construction and event-driven or activist-adjacent research. Q1 2026 shows essentially flat AUM from the prior quarter ($1.92B to $1.92B) with an even distribution of increases, decreases, and new positions: 3 positions increased, 2 sold out, 3 reduced, 4 unchanged. That balanced activity pattern suggests JANA is neither aggressively building nor exiting — a neutral-to-cautious posture in a quarter where large-cap growth rallied. The WhaleScore of 79 reflects long-term performance that has rewarded this concentrated, event-aware approach.

The WhaleScore of 79 reflects JANA's historical alpha generation from concentrated positions and event-driven catalysts. The act of adding to existing names while trimming others — rather than dramatically rotating into or out of sectors — is consistent with a manager who maintains a watchlist of potential catalysts and adjusts position size as the probability or timeline of those catalysts shifts.

For a reader unfamiliar with JANA's process, the relevant insight is that this manager holds fewer positions than a typical long-only equity fund and sizes them meaningfully. A 3-increase, 3-decrease quarter does not mean JANA is undecided — it means the manager has already done the research and is maintaining a curated list of favorites while phasing out names where the thesis has weakened.

Quarter at a glance — Q1 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q1 2026.

#HoldingValueSharesWeight
01
MRCY
MERCURY SYS INC
$299M4.1M18.0%
02
COO
COOPER COS INC
$255M3.6M15.3%
03
FISV
FISERV INC
$248M4.4M14.8%
04
SPY
STATE STR SPDR S&P 500 ETF T
$223M344K13.4%
05
LW
LAMB WESTON HLDGS INC
$212M5.0M12.7%
06
MKL
MARKEL GROUP INC
$144M75K8.6%
07
ALKT
ALKAMI TECHNOLOGY INC
$85M5.4M5.1%
08
FUN
SIX FLAGS ENTERTAINMENT CORP
$73M4.1M4.4%
09
PSTG
EVERPURE INC
$62M1.0M3.7%
10
RPD
RAPID7 INC
$37M6.7M2.2%

Filing history

2026Q1Mar 31
$1.7B 13.2%
11 positionsView →
2025Q4Dec 31
$1.9B 261.7%
12 positionsView →
2025Q3Sep 30
$531M 73.3%
5 positionsView →
2025Q2Jun 30
$2.0B 305.4%
10 positionsLocked
2025Q1Mar 31
$491M 75.8%
4 positionsLocked
2024Q4Dec 31
$2.0B 5.5%
11 positionsLocked
2024Q3Sep 30
$1.9B 12.7%
12 positionsLocked
2024Q2Jun 30
$1.7B 6.6%
12 positionsLocked
2024Q1Mar 31
$1.8B 18.1%
10 positionsLocked
2023Q4Dec 31
$1.5B 13.4%
8 positionsLocked
2023Q3Sep 30
$1.4B
8 positionsLocked