Starboard Value’s Algonquin Power & Utilities AQN Stock Holding History

Starboard Value’s Portfolio AQN Stock Details AQN Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	$351M	Sell	57,189,420 -6,300,000	-10%	-$40.8M	7.68%	4
2025 Q4	$390M	Hold	63,489,420	–	–	7.4%	3
2025 Q3	$341M	Hold	63,489,420	–	–	6.42%	7
2025 Q2	$364M	Sell	63,489,420 -2,943,580	-4%	-$16.1M	6.31%	7
2025 Q1	$341M	Buy	66,433,000 +1,117,000	+2%	+$5.27M	6.21%	7
2024 Q4	$291M	Buy	65,316,000 +3,175,000	+5%	+$15.3M	5.26%	9
2024 Q3	$339M	Hold	62,141,000	–	–	7.2%	6
2024 Q2	$364M	Hold	62,141,000	–	–	8.48%	4
2024 Q1	$393M	Buy	62,141,000 +150,000	+0.2%	+$909K	8.11%	3
2023 Q4	$392M	Buy	61,991,000 +3,591,000	+6%	+$21M	8.15%	6
2023 Q3	$346M	Buy	58,400,000 +24,261,350	+71%	+$183M	8.86%	4
2023 Q2	$282M	Buy	+34,138,650	New	+$290M	6.09%	9

Other funds holding AQN

EIG

EdgePoint Investment Group Toronto, Ontario, Canada $12.5B AUM 31.7% 1-Year Est. Return

Fidelity International Hamilton, Bermuda $129B AUM 30.83% 1-Year Est. Return

VCM

Vanguard Capital Management Malvern, Pennsylvania $4.04T AUM

Royal Bank of Canada Toronto, Ontario, Canada $570B AUM 27.57% 1-Year Est. Return

Bank of Montreal Toronto, Ontario, Canada $269B AUM 31.4% 1-Year Est. Return

Ariel Investments Chicago, Illinois $8.93B AUM 29.58% 1-Year Est. Return

Principal Financial Group Des Moines, Iowa $187B AUM 18.48% 1-Year Est. Return

BCIM

British Columbia Investment Management Victoria, British Columbia, Canada $17B AUM 31.69% 1-Year Est. Return

ClearBridge Investments New York $115B AUM 24.78% 1-Year Est. Return

Mitsubishi UFJ Trust & Banking Tokyo, Japan $40.6B AUM 25.18% 1-Year Est. Return

Starboard Value's AQN Position: Q1 2026 in Review

Starboard Value reduced its Algonquin Power & Utilities (AQN) stake by 9.9% in Q1 2026, selling an estimated $40.8M and leaving 57,189,420 shares worth $351M. The position accounts for 7.68% of the portfolio, ranked #4.

Starboard Value first reported a position in AQN in Q2 2023 and has held it in 12 quarters since. The position peaked at $393M in Q1 2024. 251 funds tracked by Wall St. Rank hold AQN as of Q1 2026.

Starboard Value held 57,189,420 shares of Algonquin Power & Utilities worth $351M as of Q1 2026.
Starboard Value sold 6,300,000 Algonquin Power & Utilities shares in Q1 2026, an estimated $40.8M.
Algonquin Power & Utilities made up 7.68% of Starboard Value's portfolio in Q1 2026, its #4 holding.
Starboard Value first reported a position in Algonquin Power & Utilities in Q2 2023 and has held it in 12 quarters since.
Starboard Value's Algonquin Power & Utilities position peaked at $393M in Q1 2024.
251 funds tracked by Wall St. Rank held Algonquin Power & Utilities as of Q1 2026.

Based on Starboard Value's 13F filing for Q1 2026, filed 15 May 2026.