JANA Partners

Barry Rosenstein

Period

Q1 2026

Portfolio Date

Mar 31, 2026

Stocks Held

10

Market Value

$1.6B

Portfolio Analysis

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I. Institutional Overview

As of the first quarter of 2026, the investment landscape for JANA Partners, led by the seasoned activist investor Barry Rosenstein, reveals a sophisticated and highly concentrated strategic posture. With a total reported portfolio market value of approximately $1.61 billion and a remarkably lean selection of only 10 holdings, JANA Partners exemplifies the...

The current scale of the portfolio, sitting at $1.61 billion, suggests a stable yet potent capital base. When an institution manages over a billion dollars with only ten stocks, each position becomes a critical engine of performance. The average position size is roughly $160 million, representing about 10% of the total portfolio. This level of concentration...

The psychological portrait of JANA Partners this quarter is one of "strategic refinement and sector rotation." While the total number of holdings remains low, the internal movement within the portfolio suggests a pivot away from long-term legacy positions in the consumer staples space toward more aggressive bets in financial technology and healthcare. By...

Based on the latest available 13F filing.

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Holdings Value Trend

Q2 2024

Q3 2024

Q4 2024

Q1 2025

Q2 2025

Q3 2025

Q4 2025

Q1 2026

Historical Positions

SymbolQ1 2026Q4 2025Q3 2025Q2 2025
MRCY18.6%18.8%22.3%18.3%
COO15.9%15.0%8.1%-
FI15.4%7.8%--
ETF-SPY13.9%13.9%12.5%15.9%
LW13.2%10.9%14.1%18.8%
MKL9.0%9.1%13.6%15.2%
ALKT5.3%5.9%--
FUN4.5%3.3%4.5%-
RPD2.3%5.3%5.9%6.7%
EHAB1.8%--1.0%

Post-Filing Contributors

Price change since reported price, ranked by portfolio contribution

MRCY+63.65%
ETF-SPY+13.44%
ALKT-4.85%
FI+0.48%

Post-Filing Detractors

Price change since reported price, ranked by portfolio contribution

COO-5.58%
MKL-4.39%
LW+6.72%

Sector Analysis

Financials10.4%
Healthcare20.6%
Technology26.8%
Industrials21.7%
Consumer Staples15.3%
Consumer Discretionary5.3%

Trading Summary

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