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Starboard Value LP

Q1 2026 · Filed 2026-05-15
Market Value
$4.6B
-13.5%
Holdings
24
+2
New Purchases
3
Added To
3
Closed
3
Reduced
9
Top 10 Concentration
74.9%
Turnover
25.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
LW 5.66% 0.00% +5.66% $258M
KMX 5.65% 0.00% +5.65% $258M
ACTG 6.44% 4.33% +2.11% $294M
IJH 8.62% 6.57% +2.06% $394M
GPGI 1.88% 0.00% +1.88% $86M
KVUE 10.31% 8.93% +1.38% $471M
RIOT 4.21% 3.06% +1.15% $192M
QRVO 12.73% 12.03% +0.70% $581M
MTCH 7.67% 6.97% +0.69% $350M
AQN 7.69% 7.40% +0.29% $351M
NWSA 3.06% 2.92% +0.14% $140M
BLMN 0.94% 0.93% +0.01% $43M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ADSK 0.00% 5.62% -5.62% $0
CRM 0.00% 4.72% -4.72% $0
GEN 3.22% 5.45% -2.23% $147M
CWAN 2.83% 4.55% -1.72% $129M
HR 2.54% 4.05% -1.51% $116M
BILL 5.89% 7.26% -1.37% $269M
BDX 2.19% 3.42% -1.23% $100M
FLR 2.95% 3.90% -0.95% $135M
NWS 1.62% 2.49% -0.88% $74M
ROG 1.37% 2.09% -0.71% $63M
IWM 0.00% 0.64% -0.64% $0
TRIP 2.52% 2.66% -0.15% $115M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 9 $1.3B 29.0%
Mid Cap 12 $2.8B 61.1%
Small Cap 3 $452M 9.9%

Portfolio Analytics

Avg Market Cap
$26.1B
Median Market Cap
$7.8B
Avg P/E
29.8
Median P/E
27.1
Avg Dividend Yield
0.01%
Avg Beta
1.07
# Stocks
22
# ETFs / Funds
2

Top Holdings (24 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 QRVO 12.73% 7,510,871 $581M $77.40 -$53M
2 KVUE 10.31% 27,307,632 $471M $17.24 -$273K
3 IJH 8.62% 5,830,656 $394M $67.53 $47M +580,000 +11.1%
4 AQN 7.69% 57,189,420 $351M $6.14 -$39M -6,300,000 -9.9%
5 MTCH 7.67% 11,395,379 $350M $30.71 -$18M
6 ACTG 6.44% 61,123,595 $294M $4.81 $65M
7 BILL 5.89% 7,024,848 $269M $38.30 -$114M
8 LW 5.66% 6,114,982 $258M $42.26 +6,114,982 NEW
9 KMX 5.65% 6,201,362 $258M $41.58 +6,201,362 NEW
10 RIOT 4.21% 15,544,576 $192M $12.36 $31M +2,800,000 +22.0%
11 GEN 3.22% 7,806,922 $147M $18.83 -$141M -2,778,670 -26.2%
12 NWSA 3.06% 5,605,126 $140M $24.93 -$14M -290,361 -4.9%
13 FLR 2.95% 2,886,327 $135M $46.65 -$71M -2,305,000 -44.4%
14 CWAN 2.83% 5,459,031 $129M $23.65 -$111M -4,500,000 -45.2%
15 HR 2.54% 6,821,267 $116M $16.99 -$98M -5,778,733 -45.9%
16 TRIP 2.52% 10,774,996 $115M $10.66 -$26M +1,130,000 +11.7%
17 BDX 2.19% 636,494 $100M $157.23 -$80M -293,423 -31.6%
18 GPGI 1.88% 5,027,028 $86M $17.10 +5,027,028 NEW
19 NWS 1.62% 2,589,081 $74M $28.51 -$58M -1,850,000 -41.7%
20 ROG 1.37% 584,328 $63M $107.33 -$47M -619,129 -51.5%
21 BLMN 0.94% 7,980,992 $43M $5.40 -$6M
22 ADSK —% -$297M -1,001,733 -100.0% SOLD
23 CRM —% -$249M -940,325 -100.0% SOLD
24 IWM —% -$34M -137,000 -100.0% SOLD

Options Breakdown

0 Calls $0 Call Value 3 Puts $6M Put Value

Top Puts

SymbolSharesValueStatus
HYG 3,000,000 $3M NEW
IWM 683,100 $3M NEW
RIOT 792,500 $705K NEW

New Positions

SymbolValue% Port
LW $258M 5.66%
KMX $258M 5.65%
GPGI $86M 1.88%

Sold Out Positions

SymbolValue% Port
CRM —%
ADSK —%
IWM —%
View SEC EDGAR Filings for Starboard Value LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms