JANA Partners takes stake in Markel, exits positions in Frontier, Fortrea

JANA Partners disclosed in an SEC filing its holdings as of December 31, 2024. JANA’s one new buy during the fourth quarter was Markel Group (MKL). JANA exited two positions during the quarter, including by size of previous position, Frontier Communications (FYBR) and Fortrea Holdings (FTRE). JANA increased its stake in two holdings, including by size of previous position, Lamb Weston (LW) and Rapid7 (RPD). JANA reduced its stake in four holdings, including by size of previous position, Fidelity National (FIS), Wolfspeed (WOLF), and Trimble (TRMB). JANA’s top holdings as of December 31, 2024, in order of size, were Lamb Weston, Trimble, and Mercury Systems (MRCY).