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Starboard Value Portfolio holdings
AUM
$4.52B
1-Year Est. Return
19.34%
This Fund
S&P 500
This Quarter
Est. Return
+17.96%
1 Year Est. Return
+19.34%
3 Year Est. Return
+55.97%
5 Year Est. Return
+85.4%
10 Year Est. Return
+430.11%
AUM
$4.52B
AUM Growth
-$51M
(-1.1%)
Cap. Flow
-$681M
Cap. Flow
% of AUM
-15.04%
Top 10 Holdings %
Top 10 Hldgs %
84.3%
Holding
28
New
2
Increased
3
Reduced
11
Closed
6
Avg Time Held Equity + Options
5
quarters
Top 10 Avg Time Held Equity + Options
4
quarters
Top 20 Avg Time Held Equity + Options
4.7
quarters
Avg Time Held Equity only
5.1
quarters
Top 10 Avg Time Held Equity only
4
quarters
Top 20 Avg Time Held Equity only
4.7
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Dynatrace
DT
|
+$345M |
| 2 |
iShares Core S&P Mid-Cap ETF
IJH
|
+$224M |
| 3 |
Flowserve
FLS
|
+$110M |
| 4 |
BILL Holdings
BILL
|
+$33.2K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Qorvo
QRVO
|
+$175M |
| 2 |
Gen Digital
GEN
|
+$147M |
| 3 |
CarMax
KMX
|
+$130M |
| 4 |
Clearwater Analytics
CWAN
|
+$129M |
| 5 |
Match Group
MTCH
|
+$128M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.79% |
| 2 | Consumer Staples | 17.01% |
| 3 | Miscellaneous | 15.18% |
| 4 | Industrials | 12.26% |
| 5 | Communication Services | 9.17% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
iShares Core S&P Mid-Cap ETF
IJH
$123B
| $685M | 15.13% |
8,877,781
+3,047,125
| +52% | +$224M |
2024 Q4
6 quarters
|
|
|
2
DELISTED
Qorvo
QRVO
| $523M | 11.57% |
5,611,526
-1,899,345
| -25% | -$175M |
2025 Q1
5 quarters
|
|
3
Kenvue
KVUE
$34B
| $522M | 11.54% |
27,307,632
| – | – |
2024 Q4
6 quarters
|
|
|
4
Dynatrace
DT
$19.1B
| $389M | 8.61% |
+8,866,692
| New | +$345M |
2026 Q2
0 quarters
|
|
5
Algonquin Power & Utilities
AQN
$3.91B
| $335M | 7.41% |
57,189,420
| – | – |
2023 Q2
12 quarters
|
|
|
6
Match Group
MTCH
$9.6B
| $296M | 6.54% |
7,775,125
-3,620,254
| -32% | -$128M |
2024 Q3
7 quarters
|
|
7
Acacia Research
ACTG
$425M
| $285M | 6.3% |
61,123,595
| – | – |
2022 Q4
14 quarters
|
|
8
Riot Platforms
RIOT
$5.97B
| $277M | 6.12% |
10,114,576
-5,430,000
| -35% | -$122M |
2024 Q4
6 quarters
|
|
|
9
BILL Holdings
BILL
$3.83B
| $254M | 5.62% |
7,025,748
+900
| +0% | +$33.2K |
2025 Q3
3 quarters
|
|
10
Lamb Weston
LW
$6.98B
| $248M | 5.47% |
5,733,982
-381,000
| -6% | -$16.4M |
2026 Q1
1 quarter
|
|
|
11
CarMax
KMX
$7.22B
| $170M | 3.75% |
3,206,438
-2,994,924
| -48% | -$130M |
2026 Q1
1 quarter
|
|
|
12
Flowserve
FLS
$9.05B
| $107M | 2.36% |
+1,441,600
| New | +$110M |
2026 Q2
0 quarters
|
|
13
Fluor
FLR
$6.65B
| $83.1M | 1.84% |
1,586,327
-1,300,000
| -45% | -$63.7M |
2025 Q4
2 quarters
|
|
14
GPGI Inc
GPGI
$3.72B
| $79.7M | 1.76% |
5,027,028
| – | – |
2026 Q1
1 quarter
|
|
15
TripAdvisor
TRIP
$1.03B
| $69.9M | 1.54% |
5,096,996
-5,678,000
| -53% | -$64.2M |
2025 Q2
4 quarters
|
|
16
News Corp Class B
NWS
$17.6B
| $68.2M | 1.51% |
2,431,081
-158,000
| -6% | -$4.7M |
2023 Q4
10 quarters
|
|
17
News Corp Class A
NWSA
$15.9B
| $50.7M | 1.12% |
2,040,100
-3,565,026
| -64% | -$92.4M |
2023 Q4
10 quarters
|
|
18
Healthcare Realty
HR
$5.89B
| $39.1M | 0.86% |
1,936,267
-4,885,000
| -72% | -$94.9M |
2024 Q4
6 quarters
|
|
19
Bloomin' Brands
BLMN
$762M
| $38.2M | 0.84% |
4,180,992
-3,800,000
| -48% | -$27.7M |
2023 Q3
11 quarters
|
|
20
Bitcoin Infrastructure Acquisition Corp
BIXI
$303M
| $3M | 0.07% |
300,000
| – | – |
2025 Q4
2 quarters
|
|
|
21
PUT
Riot Platforms
RIOT
$5.97B
| $1.92M | 0.04% |
2,423,400
+1,630,900
| +206% | +$36.8M |
2026 Q1
1 quarter
|
|
|
22
Bitcoin Infrastructure Acquisition Corp Warrant
BIXIW
$2.97M
| $47.5K | ﹤0.01% |
149,999
| – | – |
2026 Q1
1 quarter
|
|
23
Becton Dickinson
BDX
$51.1B
| – | – |
-636,494
| Closed | -$100M | – |
|
|
24
DELISTED
Clearwater Analytics
CWAN
| – | – |
-5,459,031
| Closed | -$129M | – |
|
|
25
Gen Digital
GEN
$14.4B
| – | – |
-7,806,922
| Closed | -$147M | – |
|
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Starboard Value's Q2 2026 Portfolio in Review
As of Q2 2026, Starboard Value held 28 positions worth $4.52B, down 1.1% from $4.57B the previous quarter. Its ten largest holdings account for 84% of the portfolio.
Starboard Value withdrew a net $681M in Q2 2026, closing 6 positions and reducing 11 holdings. Its most notable exit was Gen Digital, an estimated $147M position sold in full.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 26% a quarter earlier, followed by Consumer Staples and Miscellaneous.
Against the trend, Starboard Value opened a new position in Dynatrace worth $389M.
- Starboard Value's largest Q2 2026 buy was Dynatrace: 8,866,692 shares worth $389M.
- Starboard Value added most to iShares Core S&P Mid-Cap ETF in Q2 2026, an estimated $224M increase.
- Starboard Value's biggest Q2 2026 reduction was Qorvo, cutting an estimated $175M.
- Starboard Value fully exited Gen Digital in Q2 2026, selling an estimated $147M.
- Starboard Value's ten largest holdings make up 84% of its $4.52B portfolio in Q2 2026.
- Starboard Value opened 2 new positions and closed 6 in Q2 2026.
- Starboard Value's portfolio value fell 1.1% quarter-over-quarter to $4.52B.
Based on Starboard Value's 13F filing for Q2 2026, filed 14 Aug 2026.