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SV

Starboard Value Portfolio holdings

AUM $4.52B
1-Year Est. Return 19.34%
This Fund
S&P 500
This Quarter Est. Return
+3.63%
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
$5.31B
AUM Growth
-$454M
Cap. Flow
-$511M
Cap. Flow %
-9.62%
Top 10 Hldgs %
71.29%
Holding
26
New
1
Increased
3
Reduced
10
Closed
6
Avg Time Held Equity + Options
6.2 quarters
Top 10 Avg Time Held Equity + Options
5.5 quarters
Top 20 Avg Time Held Equity + Options
6.2 quarters
Avg Time Held Equity only
6.2 quarters
Top 10 Avg Time Held Equity only
5.5 quarters
Top 20 Avg Time Held Equity only
6.2 quarters

Top Buys

Rank Stock Value
1
BILL icon
BILL Holdings
BILL
+$326M
2
ROG icon
Rogers Corp
ROG
+$57.9M
3
RIOT icon
Riot Platforms
RIOT
+$57.4M
4
TRIP icon
TripAdvisor
TRIP
+$17.6M

Top Sells

Rank Stock Value
1
BDX icon
Becton Dickinson
BDX
+$262M
2
PFE icon
Pfizer
PFE
+$207M
3
MTCH icon
Match Group
MTCH
+$151M
4
HR icon
Healthcare Realty
HR
+$81.2M
5
ADSK icon
Autodesk
ADSK
+$47M

Sector Composition

Rank Sector Weight
1 Technology 45.11%
2 Communication Services 14.96%
3 Miscellaneous 7.07%
4 Utilities 6.42%
5 Consumer Staples 6.39%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
QRVO icon
1
DELISTED
Qorvo
QRVO
$684M 12.87%
7,510,871
-361,996
-5% -$32.2M
2025 Q1
2 quarters
ADSK icon
2
Autodesk
ADSK
$48.2B
$417M 7.85%
1,313,000
-154,348
-11% -$47M
2024 Q3
4 quarters
MTCH icon
3
Match Group
MTCH
$9.72B
$391M 7.36%
11,070,379
-4,241,537
-28% -$151M
2024 Q3
4 quarters
BILL icon
4
BILL Holdings
BILL
$3.75B
$372M 7%
+7,024,848
New +$326M
2025 Q3
0 quarters
GEN icon
5
Gen Digital
GEN
$14.3B
$346M 6.5%
12,171,000
-1,159,505
-9% -$34.7M
2018 Q3
28 quarters
IJH icon
6
iShares Core S&P Mid-Cap ETF
IJH
$123B
$343M 6.45%
5,250,656
– –
2024 Q4
3 quarters
AQN icon
7
Algonquin Power & Utilities
AQN
$3.95B
$341M 6.42%
63,489,420
– –
2023 Q2
9 quarters
KVUE icon
8
Kenvue
KVUE
$34.1B
$340M 6.39%
20,929,938
– –
2024 Q4
3 quarters
CRM icon
9
Salesforce
CRM
$196B
$294M 5.54%
1,242,150
-10,097
-0.8% -$2.55M
2022 Q4
11 quarters
HR icon
10
Healthcare Realty
HR
$5.9B
$261M 4.92%
14,490,036
-4,800,636
-25% -$81.2M
2024 Q4
3 quarters
BDX icon
11
Becton Dickinson
BDX
$51B
$226M 4.25%
1,207,998
-1,411,492
-54% -$262M
2025 Q1
2 quarters
NWS icon
12
News Corp Class B
NWS
$17.6B
$208M 3.91%
6,017,000
-845,525
-12% -$28.5M
2023 Q4
7 quarters
ACTG icon
13
Acacia Research
ACTG
$429M
$199M 3.74%
61,123,595
– –
2022 Q4
11 quarters
NWSA icon
14
News Corp Class A
NWSA
$16B
$196M 3.69%
6,381,716
-417,220
-6% -$12.4M
2023 Q4
7 quarters
RIOT icon
15
Riot Platforms
RIOT
$6.26B
$168M 3.16%
8,818,000
+4,141,100
+89% +$57.4M
2024 Q4
3 quarters
TRIP icon
16
TripAdvisor
TRIP
$1.02B
$155M 2.91%
9,510,484
+1,011,430
+12% +$17.6M
2025 Q2
1 quarter
ALIT icon
17
Alight
ALIT
$243M
$150M 2.81%
2,293,295
– –
2024 Q1
6 quarters
ROG icon
18
Rogers Corp
ROG
$2.62B
$135M 2.54%
1,676,502
+777,000
+86% +$57.9M
2023 Q1
10 quarters
BLMN icon
19
Bloomin' Brands
BLMN
$789M
$57.2M 1.08%
7,980,992
– –
2023 Q3
8 quarters
IWM icon
20
iShares Russell 2000 ETF
IWM
$77.9B
$33.1M 0.62%
137,000
-203,000
-60% -$46.6M
2025 Q2
1 quarter
FTRE icon
21
Fortrea Holdings
FTRE
$1.99B
– –
-2,495,558
Closed -$12.3M –
GDOT icon
22
Green Dot
GDOT
$707M
– –
-1,733,298
Closed -$18.7M –
PFE icon
23
Pfizer
PFE
$162B
– –
-8,542,149
Closed -$207M –
RBA icon
24
RB Global
RBA
$16.3B
– –
-251,163
Closed -$26.7M –
RIOT icon
25
PUT
Riot Platforms
RIOT
$6.26B
– –
-187,600
Closed -$101K –

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MP
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Starboard Value's Q3 2025 Portfolio in Review

As of Q3 2025, Starboard Value held 26 positions worth $5.31B, down 7.9% from $5.77B the previous quarter. Its ten largest holdings account for 71% of the portfolio.

Starboard Value withdrew a net $511M in Q3 2025, closing 6 positions and reducing 10 holdings. Its most notable exit was Pfizer, an estimated $207M position sold in full.

By sector, the portfolio is most concentrated in Technology at 45% of assets, up from 38% a quarter earlier, followed by Communication Services and Miscellaneous.

Against the trend, Starboard Value opened a new position in BILL Holdings worth $372M.

  • Starboard Value's largest Q3 2025 buy was BILL Holdings: 7,024,848 shares worth $372M.
  • Starboard Value added most to Rogers Corp in Q3 2025, an estimated $57.9M increase.
  • Starboard Value's biggest Q3 2025 reduction was Becton Dickinson, cutting an estimated $262M.
  • Starboard Value fully exited Pfizer in Q3 2025, selling an estimated $207M.
  • Starboard Value's ten largest holdings make up 71% of its $5.31B portfolio in Q3 2025.
  • Starboard Value opened 1 new position and closed 6 in Q3 2025.
  • Starboard Value's portfolio value fell 7.9% quarter-over-quarter to $5.31B.

Based on Starboard Value's 13F filing for Q3 2025, filed 14 Nov 2025.