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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
+0.33%
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
$5.28B
AUM Growth
-$35.1M
Cap. Flow
+$67.9M
Cap. Flow %
1.29%
Top 10 Hldgs %
69.47%
Holding
23
New
3
Increased
4
Reduced
8
Closed
1

Top Buys

Rank Stock Value
1
FLR icon
Fluor
FLR
+$230M
2
CWAN
Clearwater Analytics
CWAN
+$199M
3
KVUE icon
Kenvue
KVUE
+$104M
4
RIOT icon
Riot Platforms
RIOT
+$67.2M
5
MTCH icon
Match Group
MTCH
+$10.7M

Top Sells

Rank Stock Value
1
ALIT icon
Alight
ALIT
+$150M
2
ADSK icon
Autodesk
ADSK
+$94.2M
3
CRM icon
Salesforce
CRM
+$75M
4
BDX icon
Becton Dickinson
BDX
+$52.9M
5
NWS icon
News Corp Class B
NWS
+$47M

Sector Composition

Rank Sector Weight
1 Technology 41.7%
2 Communication Services 12.38%
3 Consumer Staples 8.92%
4 Industrials 8.23%
5 Utilities 7.4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
QRVO icon
1
Qorvo
QRVO
$8.36B
$635M 12.02%
7,510,871
– –
KVUE icon
2
Kenvue
KVUE
$36.8B
$471M 8.92%
27,307,632
+6,377,694
+30% +$104M
AQN icon
3
Algonquin Power & Utilities
AQN
$4.36B
$390M 7.4%
63,489,420
– –
BILL icon
4
BILL Holdings
BILL
$5.01B
$383M 7.26%
7,024,848
– –
MTCH icon
5
Match Group
MTCH
$9.54B
$368M 6.97%
11,395,379
+325,000
+3% +$10.7M
IJH icon
6
iShares Core S&P Mid-Cap ETF
IJH
$124B
$347M 6.56%
5,250,656
– –
ADSK icon
7
Autodesk
ADSK
$55B
$297M 5.62%
1,001,733
-311,267
-24% -$94.2M
GEN icon
8
Gen Digital
GEN
$18.6B
$288M 5.45%
10,585,592
-1,585,408
-13% -$42.7M
CRM icon
9
Salesforce
CRM
$211B
$249M 4.72%
940,325
-301,825
-24% -$75M
CWAN
10
DELISTED
Clearwater Analytics
CWAN
$240M 4.55%
+9,959,031
New +$199M
ACTG icon
11
Acacia Research
ACTG
$436M
$229M 4.33%
61,123,595
– –
HR icon
12
Healthcare Realty
HR
$6.51B
$214M 4.05%
12,600,000
-1,890,036
-13% -$33.6M
FLR icon
13
Fluor
FLR
$7.12B
$206M 3.9%
+5,191,327
New +$230M
BDX icon
14
Becton Dickinson
BDX
$51.6B
$180M 3.42%
929,917
-278,081
-23% -$52.9M
RIOT icon
15
Riot Platforms
RIOT
$7.13B
$161M 3.06%
12,744,576
+3,926,576
+45% +$67.2M
NWSA icon
16
News Corp Class A
NWSA
$16.6B
$154M 2.92%
5,895,487
-486,229
-8% -$12.8M
TRIP icon
17
TripAdvisor
TRIP
$1.16B
$140M 2.66%
9,644,996
+134,512
+1% +$2.05M
NWS icon
18
News Corp Class B
NWS
$18.7B
$132M 2.49%
4,439,081
-1,577,919
-26% -$47M
ROG icon
19
Rogers Corp
ROG
$2.24B
$110M 2.09%
1,203,457
-473,045
-28% -$40.6M
BLMN icon
20
Bloomin' Brands
BLMN
$906M
$49.2M 0.93%
7,980,992
– –
IWM icon
21
iShares Russell 2000 ETF
IWM
$80.8B
$33.7M 0.64%
137,000
– –
BIXI
22
Bitcoin Infrastructure Acquisition Corp
BIXI
$304M
$2.99M 0.06%
+300,000
New +$2.96M
ALIT icon
23
Alight
ALIT
$374M
– –
-2,293,295
Closed -$150M

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MP
Munro Partners Melbourne, Australia $4.54B AUM 84.34% 1-Year Est. Return
U
Uber San Francisco, California $4.51B AUM 1.92% 1-Year Est. Return
CGI
Comgest Global Investors Paris, France $4.55B AUM 11.62% 1-Year Est. Return
DACG
Donor Advised Charitable Giving San Francisco, California $4.49B AUM 26.39% 1-Year Est. Return
5NCM
59 North Capital Management Houston, Texas $4.49B AUM 6.4% 1-Year Est. Return
WA
WestEnd Advisors Charlotte, North Carolina $4.49B AUM 19.44% 1-Year Est. Return

Starboard Value's Q4 2025 Portfolio in Review

As of Q4 2025, Starboard Value held 23 positions worth $5.28B, down 0.66% from $5.31B the previous quarter. Its ten largest holdings account for 69% of the portfolio.

Starboard Value's Q4 2025 filing shows 3 new, 4 increased, 8 reduced and 1 closed positions. Its largest new stake was Fluor: 5,191,327 shares worth $206M. The largest sale was Alight, an estimated $150M.

By sector, the portfolio is most concentrated in Technology at 42% of assets, down from 45% a quarter earlier, followed by Communication Services and Consumer Staples.

  • Starboard Value's largest Q4 2025 buy was Fluor: 5,191,327 shares worth $206M.
  • Starboard Value added most to Kenvue in Q4 2025, an estimated $104M increase.
  • Starboard Value's biggest Q4 2025 reduction was Autodesk, cutting an estimated $94.2M.
  • Starboard Value fully exited Alight in Q4 2025, selling an estimated $150M.
  • Starboard Value's ten largest holdings make up 69% of its $5.28B portfolio in Q4 2025.
  • Starboard Value opened 3 new positions and closed 1 in Q4 2025.
  • Starboard Value's portfolio value fell 0.66% quarter-over-quarter to $5.28B.

Based on Starboard Value's 13F filing for Q4 2025, filed 17 Feb 2026.