Starboard Value: 13F holdings, Q2 2026
Activist · SEC EDGAR filings (CIK 0001517137) · Explore on the interactive board
Starboard Value disclosed 21 US equity positions worth $4.5bn in its Q2 2026 13F filing (holdings as of June 30, 2026, filed August 14, 2026). Its largest position is ISHARES TR at 15.1% of the reported book, followed by QRVO, KVUE. The top ten holdings are 84.3% of the book, and the portfolio behaves like about 12 equal-weight positions. Versus the prior filing it opened 2 new positions, added to 1, reduced 11 and exited 4.
What does Starboard Value own? Top holdings as of June 30, 2026
Change is measured in shares against the previous filing (Q1 2026), so price moves do not read as decisions. This quarter: 2 new, 1 added, 11 reduced, 4 exited.
| # | Stock | Sector | Weight | Value | Shares | Δ shares | Action |
|---|---|---|---|---|---|---|---|
| 1 | ISHARES TR | 15.1% | $684.6m | 8,877,781 | 52% | added | |
| 2 | QRVO QORVO INC | Technology | 11.6% | $523.4m | 5,611,526 | -25% | reduced |
| 3 | KVUE KENVUE INC | Consumer Defensive | 11.5% | $521.8m | 27,307,632 | 0% | held |
| 4 | DT DYNATRACE INC | Technology | 8.6% | $389.3m | 8,866,692 | – | new |
| 5 | AQN ALGONQUIN POWER & UTILITIES | Utilities | 7.4% | $335.1m | 57,189,420 | 0% | held |
| 6 | MTCH MATCH GROUP INC NEW | Communication Services | 6.5% | $295.8m | 7,775,125 | -32% | reduced |
| 7 | ACTG ACACIA RESH CORP | Industrials | 6.3% | $284.8m | 61,123,595 | 0% | held |
| 8 | RIOT RIOT PLATFORMS INC | Financial Services | 6.1% | $276.9m | 10,114,576 | -35% | reduced |
| 9 | BILL BILL HOLDINGS INC | Technology | 5.6% | $254.1m | 7,025,748 | 0% | held |
| 10 | LW LAMB WESTON HLDGS INC | Consumer Defensive | 5.5% | $247.6m | 5,733,982 | -6% | reduced |
| 11 | KMX CARMAX INC | Consumer Cyclical | 3.8% | $169.6m | 3,206,438 | -48% | reduced |
| 12 | FLS FLOWSERVE CORP | Industrials | 2.4% | $106.9m | 1,441,600 | – | new |
| 13 | FLR FLUOR CORP | Industrials | 1.8% | $83.1m | 1,586,327 | -45% | reduced |
| 14 | GPGI GPGI INC | Industrials | 1.8% | $79.7m | 5,027,028 | 0% | held |
| 15 | TRIP TRIPADVISOR INC | Consumer Cyclical | 1.5% | $69.9m | 5,096,996 | -53% | reduced |
| 16 | NWS NEWS CORP NEW | Communication Services | 1.5% | $68.2m | 2,431,081 | -6% | reduced |
| 17 | NWSA NEWS CORP NEW | Communication Services | 1.1% | $50.7m | 2,040,100 | -64% | reduced |
| 18 | HR HEALTHCARE RLTY TR | Real Estate | 0.9% | $39.1m | 1,936,267 | -72% | reduced |
| 19 | BLMN BLOOMIN BRANDS INC | Consumer Cyclical | 0.8% | $38.2m | 4,180,992 | -48% | reduced |
| 20 | BITCOIN INFRASTRUCTURE ACQUI | 0.1% | $3.0m | 300,000 | 0% | held | |
| 21 | BITCOIN INFRASTRUCTURE ACQUI | 0.0% | $47.5k | 149,999 | 0% | held |
What did Starboard Value sell? Positions exited since the previous filing
| Stock | Prior weight | Prior value |
|---|---|---|
| GEN GEN DIGITAL INC | 33.5% | $147.0m |
| CWAN CLEARWATER ANALYTICS HLDGS I | 29.4% | $129.1m |
| BDX BECTON DICKINSON & CO | 22.8% | $100.1m |
| ROG ROGERS CORP | 14.3% | $62.7m |
Sector mix
| Sector | Weight |
|---|---|
| Technology | 25.8% |
| Consumer Defensive | 17.0% |
| Industrials | 12.3% |
| Communication Services | 9.2% |
| Utilities | 7.4% |
| Consumer Cyclical | 6.1% |
Sectors cover positions whose ticker resolved to a sector; the remainder is unclassified, not cash.
Filing history
| Quarter | Positions | Equity value |
|---|---|---|
| Q2 2026 | 21 | $4.5bn |
| Q1 2026 | 23 | $4.6bn |
| Q4 2025 | 22 | $5.3bn |
| Q3 2025 | 20 | $5.3bn |
| Q2 2025 | 24 | $5.8bn |
| Q1 2025 | 22 | $5.5bn |
| Q4 2024 | 22 | $5.5bn |
| Q3 2024 | 19 | $4.7bn |
| Q2 2024 | 20 | $4.3bn |
| Q1 2024 | 22 | $4.8bn |
| Q4 2023 | 26 | $4.8bn |
| Q3 2023 | 25 | $3.9bn |
| Q2 2023 | 48 | $4.6bn |
| Q1 2023 | 105 | $5.0bn |
| Q4 2022 | 147 | $5.2bn |
| Q3 2022 | 176 | $4.5bn |
Earliest filing: Q2 2011 · 61 quarters on file
How concentrated is Starboard Value's portfolio?
Across every quarter Starboard Value has filed, its median largest position is 17.7% of the book and its median top-ten weight is 82.9%, which WhaleCreep classifies as concentrated (the gate is a median largest position of 5%). Of 492 completed holding spells, the median lasted 3.0 quarters; 21 positions are still open and their final length is unknown.