Starboard Value 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Starboard Value disclosed 22 US equity positions worth $5.3bn in its Q4 2025 13F filing. The largest position was QRVO at 12.0% of the reported book, followed by KVUE and AQN. Against the Q3 2025 filing, it opened 3 new positions, added to 4 and reduced 8 among the top 22 holdings.
What did Starboard Value own in Q4 2025? Top 22 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | QRVO QORVO INC | Technology | 12.0% | $634.7m | 7,510,871 | 0% | held |
| 2 | KVUE KENVUE INC | Consumer Defensive | 8.9% | $471.1m | 27,307,632 | 30% | added |
| 3 | AQN ALGONQUIN PWR UTILS CORP | Utilities | 7.4% | $390.5m | 63,489,420 | 0% | held |
| 4 | BILL BILL HOLDINGS INC | Technology | 7.3% | $383.1m | 7,024,848 | 0% | held |
| 5 | MTCH MATCH GROUP INC NEW | Communication Services | 7.0% | $368.0m | 11,395,379 | 3% | added |
| 6 | ISHARES TR | 6.6% | $346.5m | 5,250,656 | 0% | held | |
| 7 | ADSK AUTODESK INC | Technology | 5.6% | $296.5m | 1,001,733 | -24% | reduced |
| 8 | GEN GEN DIGITAL INC | Technology | 5.5% | $287.8m | 10,585,592 | -13% | reduced |
| 9 | CRM SALESFORCE INC | Technology | 4.7% | $249.1m | 940,325 | -24% | reduced |
| 10 | CWAN CLEARWATER ANALYTICS HLDGS I | Technology | 4.5% | $240.2m | 9,959,031 | – | new |
| 11 | ACTG ACACIA RESH CORP | Industrials | 4.3% | $228.6m | 61,123,595 | 0% | held |
| 12 | HR HEALTHCARE RLTY TR | Real Estate | 4.0% | $213.6m | 12,600,000 | -13% | reduced |
| 13 | FLR FLUOR CORP NEW | Industrials | 3.9% | $205.7m | 5,191,327 | – | new |
| 14 | BDX BECTON DICKINSON & CO | Healthcare | 3.4% | $180.5m | 929,917 | -23% | reduced |
| 15 | RIOT RIOT PLATFORMS INC | Financial Services | 3.1% | $161.5m | 12,744,576 | 45% | added |
| 16 | NWSA NEWS CORP NEW | Communication Services | 2.9% | $154.0m | 5,895,487 | -8% | reduced |
| 17 | TRIP TRIPADVISOR INC | Consumer Cyclical | 2.7% | $140.4m | 9,644,996 | 1% | added |
| 18 | NWS NEWS CORP NEW | Communication Services | 2.5% | $131.5m | 4,439,081 | -26% | reduced |
| 19 | ROG ROGERS CORP | Technology | 2.1% | $110.2m | 1,203,457 | -28% | reduced |
| 20 | BLMN BLOOMIN BRANDS INC | Consumer Cyclical | 0.9% | $49.2m | 7,980,992 | 0% | held |
| 21 | IWM ISHARES TR | 0.6% | $33.7m | 137,000 | 0% | held | |
| 22 | BITCOIN INFRASTRUCTURE ACQUI | 0.1% | $3.0m | 300,000 | – | new |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.