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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
-2.7%
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
$4.57B
AUM Growth
-$705M
(-13%)
Cap. Flow
-$428M
Cap. Flow
% of AUM
-9.37%
Top 10 Holdings %
Top 10 Hldgs %
74.72%
Holding
29
New
7
Increased
3
Reduced
9
Closed
3
Avg Time Held Equity + Options
5.2
quarters
Top 10 Avg Time Held Equity + Options
3.1
quarters
Top 20 Avg Time Held Equity + Options
6.3
quarters
Avg Time Held Equity only
5.9
quarters
Top 10 Avg Time Held Equity only
3.1
quarters
Top 20 Avg Time Held Equity only
6.3
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lamb Weston
LW
|
+$273M |
| 2 |
CarMax
KMX
|
+$271M |
| 3 |
GPGI Inc
GPGI
|
+$109M |
| 4 |
Riot Platforms
RIOT
|
+$43M |
| 5 |
iShares Core S&P Mid-Cap ETF
IJH
|
+$40.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Autodesk
ADSK
|
+$297M |
| 2 |
Salesforce
CRM
|
+$249M |
| 3 |
Fluor
FLR
|
+$107M |
| 4 |
Clearwater Analytics
CWAN
|
+$106M |
| 5 |
Healthcare Realty
HR
|
+$101M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26% |
| 2 | Consumer Staples | 15.94% |
| 3 | Communication Services | 12.32% |
| 4 | Industrials | 11.25% |
| 5 | Consumer Discretionary | 9.09% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
DELISTED
Qorvo
QRVO
| $581M | 12.71% |
7,510,871
| – | – |
2025 Q1
4 quarters
|
|
2
Kenvue
KVUE
$33.9B
| $471M | 10.29% |
27,307,632
| – | – |
2024 Q4
5 quarters
|
|
|
3
iShares Core S&P Mid-Cap ETF
IJH
$122B
| $394M | 8.61% |
5,830,656
+580,000
| +11% | +$40.2M |
2024 Q4
5 quarters
|
|
4
Algonquin Power & Utilities
AQN
$3.91B
| $351M | 7.68% |
57,189,420
-6,300,000
| -10% | -$40.8M |
2023 Q2
11 quarters
|
|
5
Match Group
MTCH
$9.68B
| $350M | 7.65% |
11,395,379
| – | – |
2024 Q3
6 quarters
|
|
6
Acacia Research
ACTG
$425M
| $294M | 6.43% |
61,123,595
| – | – |
2022 Q4
13 quarters
|
|
7
BILL Holdings
BILL
$3.79B
| $269M | 5.88% |
7,024,848
| – | – |
2025 Q3
2 quarters
|
|
|
8
Lamb Weston
LW
$6.95B
| $258M | 5.65% |
+6,114,982
| New | +$273M |
2026 Q1
0 quarters
|
|
|
9
CarMax
KMX
$7.15B
| $258M | 5.64% |
+6,201,362
| New | +$271M |
2026 Q1
0 quarters
|
|
|
10
Riot Platforms
RIOT
$6B
| $192M | 4.2% |
15,544,576
+2,800,000
| +22% | +$43M |
2024 Q4
5 quarters
|
|
11
Gen Digital
GEN
$14.2B
| $147M | 3.21% |
7,806,922
-2,778,670
| -26% | -$64.3M |
2018 Q3
30 quarters
|
|
12
News Corp Class A
NWSA
$15.9B
| $140M | 3.05% |
5,605,126
-290,361
| -5% | -$7.2M |
2023 Q4
9 quarters
|
|
|
13
Fluor
FLR
$6.56B
| $135M | 2.94% |
2,886,327
-2,305,000
| -44% | -$107M |
2025 Q4
1 quarter
|
|
|
14
DELISTED
Clearwater Analytics
CWAN
| $129M | 2.82% |
5,459,031
-4,500,000
| -45% | -$106M |
2025 Q4
1 quarter
|
|
|
15
Healthcare Realty
HR
$5.91B
| $116M | 2.53% |
6,821,267
-5,778,733
| -46% | -$101M |
2024 Q4
5 quarters
|
|
16
TripAdvisor
TRIP
$1.03B
| $115M | 2.51% |
10,774,996
+1,130,000
| +12% | +$13.2M |
2025 Q2
3 quarters
|
|
17
Becton Dickinson
BDX
$50.8B
| $100M | 2.19% |
636,494
-293,423
| -32% | -$53.9M |
2025 Q1
4 quarters
|
|
|
18
GPGI Inc
GPGI
$3.7B
| $86M | 1.88% |
+5,027,028
| New | +$109M |
2026 Q1
0 quarters
|
|
19
News Corp Class B
NWS
$17.5B
| $73.8M | 1.61% |
2,589,081
-1,850,000
| -42% | -$52.2M |
2023 Q4
9 quarters
|
|
20
Rogers Corp
ROG
$2.58B
| $62.7M | 1.37% |
584,328
-619,129
| -51% | -$63.7M |
2023 Q1
12 quarters
|
|
21
Bloomin' Brands
BLMN
$757M
| $43.1M | 0.94% |
7,980,992
| – | – |
2023 Q3
10 quarters
|
|
22
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.9B
| $3M | 0.07% |
+3,000,000
| New | +$241M |
2026 Q1
0 quarters
|
|
23
Bitcoin Infrastructure Acquisition Corp
BIXI
$303M
| $2.98M | 0.07% |
300,000
| – | – |
2025 Q4
1 quarter
|
|
24
PUT
iShares Russell 2000 ETF
IWM
$77.8B
| $2.7M | 0.06% |
+683,100
| New | +$176M |
2026 Q1
0 quarters
|
|
|
25
PUT
Riot Platforms
RIOT
$6B
| $705K | 0.02% |
+792,500
| New | +$12.2M |
2026 Q1
0 quarters
|
|
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Starboard Value's Q1 2026 Portfolio in Review
As of Q1 2026, Starboard Value held 29 positions worth $4.57B, down 13% from $5.28B the previous quarter. Its ten largest holdings account for 75% of the portfolio.
Starboard Value withdrew a net $428M in Q1 2026, closing 3 positions and reducing 9 holdings. Its most notable exit was Autodesk, an estimated $297M position sold in full.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 42% a quarter earlier, followed by Consumer Staples and Communication Services.
Against the trend, Starboard Value opened a new position in Lamb Weston worth $258M.
- Starboard Value's largest Q1 2026 buy was Lamb Weston: 6,114,982 shares worth $258M.
- Starboard Value added most to Riot Platforms in Q1 2026, an estimated $43M increase.
- Starboard Value's biggest Q1 2026 reduction was Fluor, cutting an estimated $107M.
- Starboard Value fully exited Autodesk in Q1 2026, selling an estimated $297M.
- Starboard Value's ten largest holdings make up 75% of its $4.57B portfolio in Q1 2026.
- Starboard Value opened 7 new positions and closed 3 in Q1 2026.
- Starboard Value's portfolio value fell 13% quarter-over-quarter to $4.57B.
Based on Starboard Value's 13F filing for Q1 2026, filed 15 May 2026.