Starboard Value LP's SEC 13F Portfolio ($4.6B)

Momentum followerQuality / disciplined sizingSector-focused

Total reported value

$4.6B

Reporting period: 2026-03-31 · Number of holdings: 26

Starboard Value LP disclosed 26 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $4.6B and a quarterly turnover rate of 44.7%.

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Personality snowflake

Concentration: 27.16
Portfolio Stability: 44.72
Momentum/Contrarian: 100
Sector conviction: 65.47
Diversification: 50
Sizing Uniformity: 91.48

Recent moves

Trim GEN
-26.2%　-$140.8M
Add ACTG
0.0%　$65.4M
Add IJH
+11.0%　$47.2M
Trim CWAN
-45.2%　-$111.1M
Trim HR
-45.9%　-$97.7M
Trim BILL
0.0%　-$114.1M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

Showing top 25 holdings (of 26 total)

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	QRVO	Qorvo INC	Stock-Tech	12.71%	+0.69%	—
2	KVUE	Kenvue INC	Stock-Consumer Staples	10.29%	+1.37%	—
3	IJH	Ishares Core S&p Midcap ETF	ETF-Other	8.61%	+2.05%	+11.05%
4	AQN	Algonquin Power & Utilities	Stock-Other	7.68%	+0.28%	-9.92%
5	MTCH	Match Group INC	Stock-Comm Services	7.65%	+0.68%	—
6	ACTG	Acacia Research CORP	Stock-Other	6.43%	+2.10%	—
7	BILL	Bill Holdings INC	Stock-Tech	5.88%	-1.38%	—
8	LW	Lamb Weston Holdings INC	Stock-Consumer Staples	5.65%	+5.65%	NEW
9	KMX	Carmax INC	Stock-Consumer Disc	5.64%	+5.64%	NEW
10	RIOT	Riot Platforms INC	Stock-Financials	4.22%	+1.16%	+28.19%
11	GEN	Gen Digital INC	Stock-Tech	3.21%	-2.24%	-26.25%
12	NWSA	News CORP - Class A	Stock-Comm Services	3.05%	+0.13%	-4.93%
13	FLR	Fluor CORP	Stock-Industrials	2.94%	-0.96%	-44.40%
14	CWAN	Clearwater Analytics Holdings, Inc.	Stock-Tech	2.82%	-1.73%	-45.19%
15	HR	Healthcare Realty Trust INC	Stock-Real Estate	2.53%	-1.52%	-45.86%
16	TRIP	Tripadvisor INC	Stock-Other	2.51%	-0.15%	+11.72%
17	BDX	Becton Dickinson And Co	Stock-Healthcare	2.19%	-1.23%	-31.55%
18	GPGI	Gpgi INC	Stock-Other	1.88%	+1.88%	NEW
19	NWS	News CORP - Class B	Stock-Comm Services	1.61%	-0.88%	-41.68%
20	ROG	Rogers CORP	Stock-Other	1.37%	-0.72%	-51.45%
21	BLMN	Bloomin' Brands INC	Stock-Other	0.94%	+0.01%	—
22	HYG	Ishr Ibx Usd Hiyld Cb Etf-ui	ETF-High Yield	0.07%	+0.07%	NEW
23	✓	Bitcoin Infrastructure Acqui Usd Cl	Stock-Other	0.07%	+0.01%	—
24	IWM	Ishares Russell 2000 ETF	ETF-Small Cap	0.06%	-0.58%	+398.61%
25	✓		Stock-Other	—	—	NEW

Portfolio Performance

Performance for Q3 2026

+4.9%

Performance Last 4 Quarters

-38.9%

Stdev: +22.4%
Beta: +1.17
Alpha: -36.8%
Max Drawdown: -58.8%
Annualized Perf: -16.3%
Batting Avg vs S&P: +19.4%
Sortino: -0.87
Stutzer: -0.2
Treynor: -0.13
Sterling: -0.47
Calmar: -0.28
Information Ratio: -2.03
Tracking Error: +16.6%
Stdev Down: +17.5%
Winning Months %: +38.9%
Losing Months %: +61.1%
Best 12 Months: +19%
Worst 12 Months: -49.5%
Efficiency Ratio: +0.21
Sharpe: -0.68
Stdev Sectors: +10.8%
Skewness: +0.41
Kurtosis: -0.52
Upside Potential: +1.44

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	26	$4.6B	45	1QRVO 2KVUE 3IJH Top holdings2026-03-31 1.QRVO 2.KVUE 3.IJH 4.AQN 5.MTCH 6.ACTG 7.BILL 8.LW 9.KMX 10.RIOT
2025-12-31	22	$5.3B	26	1QRVO 2KVUE 3AQN Top holdings2025-12-31 1.QRVO 2.KVUE 3.AQN 4.BILL 5.MTCH 6.IJH 7.ADSK 8.GEN 9.CRM 10.CWAN
2025-09-30	20	$5.3B	40	1QRVO 2ADSK 3MTCH Top holdings2025-09-30 1.QRVO 2.ADSK 3.MTCH 4.BILL 5.GEN 6.IJH 7.AQN 8.KVUE 9.CRM 10.HR
2025-06-30	25	$5.8B	0	1QRVO 2MTCH 3ADSK Top holdings2025-06-30 1.QRVO 2.MTCH 3.ADSK 4.BDX 5.KVUE 6.GEN 7.AQN 8.CRM 9.IJH 10.HR
2025-03-31	22	$5.5B	100	1QRVO 2KVUE 3ADSK Top holdings2025-03-31 1.QRVO 2.KVUE 3.ADSK 4.GEN 5.MTCH 6.BDX 7.AQN 8.HR 9.ALIT 10.NWS
2024-12-31	22	$5.5B	0	1GDDY 2GEN 3MTCH Top holdings2024-12-31 1.GDDY 2.GEN 3.MTCH 4.KVUE 5.PFE 6.HR 7.ALIT 8.ADSK 9.AQN 10.ACTG
2024-09-30	20	$4.7B	0	1ADSK 2GDDY 3GEN Top holdings2024-09-30 1.ADSK 2.GDDY 3.GEN 4.CRM 5.MTCH 6.AQN 7.ALIT 8.WIX 9.ACTG 10.NWS
2024-06-30	20	$4.3B	0	1GDDY 2GEN 3CRM Top holdings2024-06-30 1.GDDY 2.GEN 3.CRM 4.AQN 5.ALIT 6.ACTG 7.WIX 8.NWS 9.NWSA 10.IWN
2024-03-31	23	$4.8B	0	1GDDY 2GEN 3AQN Top holdings2024-03-31 1.GDDY 2.GEN 3.AQN 4.ALIT 5.CRM 6.HUM 7.WIX 8.ACTG 9.IWN 10.BLMN
2023-12-31	28	$4.8B	0	1GDDY 2HUM 3GEN Top holdings2023-12-31 1.GDDY 2.HUM 3.GEN 4.WIX 5.CRM 6.AQN 7.IWN 8.FTRE 9.ACTG 10.BLMN
2023-09-30	25	$3.9B	0	1GDDY 2HUM 3CRM Top holdings2023-09-30 1.GDDY 2.HUM 3.CRM 4.AQN 5.WIX 6.GEN 7.ACM 8.ACTG 9.IWN 10.BLMN
2023-06-30	48	$4.6B	0	1GDDY 2SPLKCHF 3CRM Top holdings2023-06-30 1.GDDY 2.SPLKCHF 3.CRM 4.HUM 5.VRT 6.GEN 7.ACM 8.WIX 9.AQN 10.IWN
2023-03-31	104	$5.0B	0	1GDDY 2CRM 3ACM Top holdings2023-03-31 1.GDDY 2.CRM 3.ACM 4.SPLKCHF 5.WTW 6.HUM 7.GEN 8.VRT 9.WIX 10.MRCY
2022-12-31	148	$5.2B	0	1GDDY 2ACM 3WTW Top holdings2022-12-31 1.GDDY 2.ACM 3.WTW 4.GEN 5.CRM 6.HUM 7.VRT 8.PZZA 9.WIX 10.MRCY
2022-09-30	177	$4.5B	0	1GDDY 2ACM 3HUM Top holdings2022-09-30 1.GDDY 2.ACM 3.HUM 4.WTW 5.GEN 6.WIX 7.CVLT 8.PZZA 9.MRCY 10.ON
2022-06-30	185	$5.5B	0	1GDDY 2ACM 3HUM Top holdings2022-06-30 1.GDDY 2.ACM 3.HUM 4.WTW 5.GEN 6.ON 7.MRCY 8.CVLT 9.HUN 10.23284C
2022-03-31	171	$7.5B	0	1GDDY 2HUN 3ACM Top holdings2022-03-31 1.GDDY 2.HUN 3.ACM 4.WTW 5.GEN 6.HUM 7.ON 8.CTVA 9.PZZA 10.IWM
2021-12-31	136	$7.2B	0	1HUN 2GDDY 3ACM Top holdings2021-12-31 1.HUN 2.GDDY 3.ACM 4.ON 5.WTW 6.GEN 7.CTVA 8.PZZA 9.CERNCHF 10.ACIW
2021-09-30	67	$5.5B	0	1ACM 2GEN 3CTVA Top holdings2021-09-30 1.ACM 2.GEN 3.CTVA 4.ON 5.PZZA 6.HUN 7.IWM 8.CVLT 9.BOX 10.ACIW
2021-06-30	73	$5.1B	96	1ACM 2GEN 3CTVA Top holdings2021-06-30 1.ACM 2.GEN 3.CTVA 4.PZZA 5.ACIW 6.ON 7.BOX 8.CVLT 9.ELAN 10.MD
2021-03-31	38	$4.7B	22	1CTVA 2ACM 3GEN Top holdings2021-03-31 1.CTVA 2.ACM 3.GEN 4.ON 5.ACIW 6.BOX 7.CVLT 8.GDOT 9.ELAN 10.MMSI
2020-12-31	18	$3.9B	58	1CTVA 2GEN 3ACM Top holdings2020-12-31 1.CTVA 2.GEN 3.ACM 4.ACIW 5.ON 6.CVLT 7.GDOT 8.MMSI 9.MD 10.BOX
2020-09-30	19	$3.4B	54	1SPY 2CTVA 3ACM Top holdings2020-09-30 1.SPY 2.CTVA 3.ACM 4.GEN 5.AAP 6.GDOT 7.MMSI 8.MGLNUSD 9.CVLT 10.CERNCHF
2020-06-30	21	$2.8B	31	1GEN 2AAP 3ACM Top holdings2020-06-30 1.GEN 2.AAP 3.ACM 4.GDOT 5.MMSI 6.BOX 7.CERNCHF 8.MGLNUSD 9.CVLT 10.MD
2020-03-31	18	$2.5B	71	1GEN 2AAP 3EBAY Top holdings2020-03-31 1.GEN 2.AAP 3.EBAY 4.CERNCHF 5.CVLT 6.ACM 7.BOX 8.MMSI 9.GDOT 10.GCPEUR
2019-12-31	16	$3.5B	100	1SPY 2GEN 3AAP Top holdings2019-12-31 1.SPY 2.GEN 3.AAP 4.EBAY 5.CERNCHF 6.ACM 7.MGLNUSD 8.IWN 9.BOX 10.GCPEUR
2019-09-30	16	$3.0B	32	1SYMCEUR 2AAP 3PRGO Top holdings2019-09-30 1.SYMCEUR 2.AAP 3.PRGO 4.CERNCHF 5.IWN 6.ACM 7.MGLNUSD 8.EBAY 9.BOX 10.GCPEUR
2019-06-30	20	$3.3B	36	1SYMCEUR 2AAP 3PRGO Top holdings2019-06-30 1.SYMCEUR 2.AAP 3.PRGO 4.CERNCHF 5.IWN 6.MGLNUSD 7.ACM 8.EBAY 9.CARS 10.GCPEUR
2019-03-31	20	$4.1B	66	1SYMCEUR 2AAP 3PRGO Top holdings2019-03-31 1.SYMCEUR 2.AAP 3.PRGO 4.MRVL 5.IWN 6.EBAY 7.DLTR 8.CERNCHF 9.MGLNUSD 10.CARS
2018-12-31	16	$3.2B	46	1MRVL 2AAP 3SYMCEUR Top holdings2018-12-31 1.MRVL 2.AAP 3.SYMCEUR 4.M51363 5.PRGO 6.DLTR 7.CARS 8.AABAUSD 9.MGLNUSD 10.BAX
2018-09-30	16	$3.9B	39	1PRGO 2MRVL 3AAP Top holdings2018-09-30 1.PRGO 2.MRVL 3.AAP 4.SYMCEUR 5.345605 6.M51363 7.CARS 8.AABAUSD 9.94733A 10.081437
2018-06-30	18	$4.0B	31	1PRGO 2MRVL3M51363 Top holdings2018-06-30 1.PRGO 2.MRVL 3.M51363 4.AAP 5.AABAUSD 6.345605 7.NWL 8.CARS 9.081437 10.94733A
2018-03-31	16	$4.6B	36	1PRGO 2AABAUSD 3MRVL Top holdings2018-03-31 1.PRGO 2.AABAUSD 3.MRVL 4.NWL 5.M51363 6.AAP 7.345605 8.CARS 9.29414D 10.MAC
2017-12-31	19	$4.1B	30	1PRGO 2AABAUSD 3MRVL Top holdings2017-12-31 1.PRGO 2.AABAUSD 3.MRVL 4.M51363 5.AAP 6.FTNT 7.CARS 8.345605 9.081437 10.STC
2017-09-30	24	$3.7B	29	1PRGO 2AABAUSD 3MRVL Top holdings2017-09-30 1.PRGO 2.AABAUSD 3.MRVL 4.AAP 5.FTNT 6.29414D 7.BCO 8.STC 9.345605 10.BAX
2017-06-30	22	$3.4B	57	1PRGO 2AABAUSD 3MRVL Top holdings2017-06-30 1.PRGO 2.AABAUSD 3.MRVL 4.AAP 5.HPE 6.FTNT 7.BCO 8.345605 9.STC 10.CTSH
2017-03-31	21	$3.3B	32	1PRGO29843323MRVL Top holdings2017-03-31 1.PRGO 2.984332 3.MRVL 4.AAP 5.BCO 6.FTNT 7.HPE 8.CTSH 9.STC 10.BAX
2016-12-31	23	$3.4B	46	1PRGO 2AAP3984332 Top holdings2016-12-31 1.PRGO 2.AAP 3.984332 4.MRVL 5.BCO 6.BAX 7.M 8.STC 9.ROK 10.HPE
2016-09-30	24	$3.7B	55	1PRGO29843323MRVL Top holdings2016-09-30 1.PRGO 2.984332 3.MRVL 4.IWM 5.AAP 6.BCO 7.249908 8.WRKUSD 9.HPE 10.M
2016-06-30	23	$2.8B	35	19843322AAP 3IWM Top holdings2016-06-30 1.984332 2.AAP 3.IWM 4.DRI 5.WRKUSD 6.MRVL 7.BCO 8.249908 9.NSP 10.BAX
2016-03-31	18	$2.8B	66	19843322DRI 3IWM Top holdings2016-03-31 1.984332 2.DRI 3.IWM 4.AAP 5.MRVL 6.WRKUSD 7.M 8.NSP 9.BCO 10.BAX
2015-12-31	23	$3.7B	36	1IWM 2DRI 3AAP Top holdings2015-12-31 1.IWM 2.DRI 3.AAP 4.984332 5.WRKUSD 6.584045 7.NSP 8.BCO 9.M 10.58441K
2015-09-30	32	$4.5B	61	1IWM 2DRI 3AAP Top holdings2015-09-30 1.IWM 2.DRI 3.AAP 4.WRKUSD 5.ODPEUR 6.984332 7.M 8.NSP 9.BCO 10.584045
2015-06-30	36	$4.4B	33	1IWM 2DRI 3ODPEUR Top holdings2015-06-30 1.IWM 2.DRI 3.ODPEUR 4.583334 5.855030 6.M 7.NSP 8.984332 9.BCO 10.88164L
2015-03-31	28	$4.8B	33	1IWM 2DRI3583334 Top holdings2015-03-31 1.IWM 2.DRI 3.583334 4.ODPEUR 5.855030 6.984332 7.NSP 8.BW 9.88164L 10.594793
2014-12-31	30	$4.4B	100	1IWM 2DRI3855030 Top holdings2014-12-31 1.IWM 2.DRI 3.855030 4.ODPEUR 5.583334 6.984332 7.88164L 8.BW 9.594793 10.WPP
2014-09-30	28	$2.9B	0	1DRI 2IWM3583334 Top holdings2014-09-30 1.DRI 2.IWM 3.583334 4.984332 5.ODPEUR 6.88164L 7.BW 8.00184X 9.594793 10.458118
2014-06-30	29	$2.6B	49	1IWM25833343DRI Top holdings2014-06-30 1.IWM 2.583334 3.DRI 4.ODPEUR 5.BW 6.88164L 7.88632Q 8.WPP 9.458118 10.CW
2014-03-31	24	$1.8B	100	1DRI 2IWM 3ODPEUR Top holdings2014-03-31 1.DRI 2.IWM 3.ODPEUR 4.88164L 5.WPP 6.CLVT 7.458118 8.AANUSD 9.BW 10.89674K
2013-12-31	23	$2.0B	0	1DRI 2IWM 3ODPEUR Top holdings2013-12-31 1.DRI 2.IWM 3.ODPEUR 4.458118 5.89674K 6.CLVT 7.WPP 8.88164L 9.205638 10.BW
2013-09-30	25	$1.2B	0	1ODPEUR24581183205638 Top holdings2013-09-30 1.ODPEUR 2.458118 3.205638 4.WPP 5.CLVT 6.88164L 7.89674K 8.NVDA 9.292475 10.RGS 5 07-15-14
2013-06-30	25	$1.4B	100	1SFD 2ODPEUR3458118 Top holdings2013-06-30 1.SFD 2.ODPEUR 3.458118 4.205638 5.CLVT 6.89674K 7.WPP 8.88164L 9.NVDA 10.RGS 5 07-15-14

Holding changes this quarter

Starboard Value LP's most significant position changes for 2026-03-31: Sold out: Autodesk INC (ADSK); New buy: Lamb Weston Holdings INC (LW); New buy: Carmax INC (KMX); Sold out: Salesforce INC (CRM); New buy: Gpgi INC (GPGI).

Position changes disclosed by Starboard Value LP for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	ACTG	Acacia Research CORP	+2.1%	—	Unchanged
2	IJH	Ishares Core S&p Midcap ETF	+2.1%	+11.05%	Add
3	KVUE	Kenvue INC	+1.4%	—	Unchanged
4	RIOT	Riot Platforms INC	+1.2%	+28.19%	Add
5	QRVO	Qorvo INC	+0.7%	—	Unchanged
6	MTCH	Match Group INC	+0.7%	—	Unchanged
7	AQN	Algonquin Power & Utilities	+0.3%	-9.92%	Trim
8	NWSA	News CORP - Class A	+0.1%	-4.93%	Trim
9	BLMN	Bloomin' Brands INC	0%	—	Unchanged
10	✓	Bitcoin Infrastructure Acqui Usd Cl	0%	—	Unchanged
11	TRIP	Tripadvisor INC	-0.2%	+11.72%	Add
12	IWM	Ishares Russell 2000 ETF	-0.6%	+398.61%	Add
13	ROG	Rogers CORP	-0.7%	-51.45%	Trim
14	NWS	News CORP - Class B	-0.9%	-41.68%	Trim
15	FLR	Fluor CORP	-1%	-44.40%	Trim
16	BDX	Becton Dickinson And Co	-1.2%	-31.55%	Trim
17	BILL	Bill Holdings INC	-1.4%	—	Unchanged
18	HR	Healthcare Realty Trust INC	-1.5%	-45.86%	Trim
19	CWAN	Clearwater Analytics Holdings, Inc.	-1.7%	-45.19%	Trim
20	GEN	Gen Digital INC	-2.2%	-26.25%	Trim
21	ADSK	Autodesk INC	—	EXIT	Sold out
22	LW	Lamb Weston Holdings INC	—	NEW	New buy
23	KMX	Carmax INC	—	NEW	New buy
24	CRM	Salesforce INC	—	EXIT	Sold out
25	GPGI	Gpgi INC	—	NEW	New buy
26	HYG	Ishr Ibx Usd Hiyld Cb Etf-ui	—	NEW	New buy
27	✓		—	NEW	New buy

FAQ

What is Starboard Value LP and what type of investor is it?

Starboard Value LP is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $4.6B, spread across 26 disclosed positions.

What are Starboard Value LP's largest equity positions?

Based on the latest 13F filing, Starboard Value LP's top holdings by market value are: 1. Qorvo INC (QRVO) — $581.3M (12.7%) 2. Kenvue INC (KVUE) — $470.8M (10.3%) 3. Ishares Core S&p Midcap ETF (IJH) — $393.7M (8.6%) 4. Algonquin Power & Utilities (AQN) — $351.1M (7.7%) 5. Match Group INC (MTCH) — $350.0M (7.7%)

What changes did Starboard Value LP make in its most recent portfolio filing?

In the latest reported quarter, Starboard Value LP made 20 notable position adjustments: 5 new positions were initiated, 4 existing holdings were added to, 9 positions were partially reduced, and 2 were completely exited. The largest of these moves: Sold out: Autodesk INC (ADSK); New buy: Lamb Weston Holdings INC (LW); New buy: Carmax INC (KMX); Sold out: Salesforce INC (CRM); New buy: Gpgi INC (GPGI)

What sectors does Starboard Value LP focus on?

Starboard Value LP is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 35.0% • Consumer Staples: 22.6% • Communication Services: 17.5% • Consumer Discretionary: 8.0% • Financials: 6.0% • Industrials: 4.2%

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Starboard Value LP's SEC 13F Portfolio ($4.6B)

Momentum followerQuality / disciplined sizingSector-focused

Total reported value

$4.6B

Reporting period: 2026-03-31 · Number of holdings: 26

Starboard Value LP disclosed 26 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $4.6B and a quarterly turnover rate of 44.7%.

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Personality snowflake

Concentration: 27.16
Portfolio Stability: 44.72
Momentum/Contrarian: 100
Sector conviction: 65.47
Diversification: 50
Sizing Uniformity: 91.48

Recent moves

Trim GEN
-26.2%　-$140.8M
Add ACTG
0.0%　$65.4M
Add IJH
+11.0%　$47.2M
Trim CWAN
-45.2%　-$111.1M
Trim HR
-45.9%　-$97.7M
Trim BILL
0.0%　-$114.1M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

Showing top 25 holdings (of 26 total)

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	QRVO	Qorvo INC	Stock-Tech	12.71%	+0.69%	—
2	KVUE	Kenvue INC	Stock-Consumer Staples	10.29%	+1.37%	—
3	IJH	Ishares Core S&p Midcap ETF	ETF-Other	8.61%	+2.05%	+11.05%
4	AQN	Algonquin Power & Utilities	Stock-Other	7.68%	+0.28%	-9.92%
5	MTCH	Match Group INC	Stock-Comm Services	7.65%	+0.68%	—
6	ACTG	Acacia Research CORP	Stock-Other	6.43%	+2.10%	—
7	BILL	Bill Holdings INC	Stock-Tech	5.88%	-1.38%	—
8	LW	Lamb Weston Holdings INC	Stock-Consumer Staples	5.65%	+5.65%	NEW
9	KMX	Carmax INC	Stock-Consumer Disc	5.64%	+5.64%	NEW
10	RIOT	Riot Platforms INC	Stock-Financials	4.22%	+1.16%	+28.19%
11	GEN	Gen Digital INC	Stock-Tech	3.21%	-2.24%	-26.25%
12	NWSA	News CORP - Class A	Stock-Comm Services	3.05%	+0.13%	-4.93%
13	FLR	Fluor CORP	Stock-Industrials	2.94%	-0.96%	-44.40%
14	CWAN	Clearwater Analytics Holdings, Inc.	Stock-Tech	2.82%	-1.73%	-45.19%
15	HR	Healthcare Realty Trust INC	Stock-Real Estate	2.53%	-1.52%	-45.86%
16	TRIP	Tripadvisor INC	Stock-Other	2.51%	-0.15%	+11.72%
17	BDX	Becton Dickinson And Co	Stock-Healthcare	2.19%	-1.23%	-31.55%
18	GPGI	Gpgi INC	Stock-Other	1.88%	+1.88%	NEW
19	NWS	News CORP - Class B	Stock-Comm Services	1.61%	-0.88%	-41.68%
20	ROG	Rogers CORP	Stock-Other	1.37%	-0.72%	-51.45%
21	BLMN	Bloomin' Brands INC	Stock-Other	0.94%	+0.01%	—
22	HYG	Ishr Ibx Usd Hiyld Cb Etf-ui	ETF-High Yield	0.07%	+0.07%	NEW
23	✓	Bitcoin Infrastructure Acqui Usd Cl	Stock-Other	0.07%	+0.01%	—
24	IWM	Ishares Russell 2000 ETF	ETF-Small Cap	0.06%	-0.58%	+398.61%
25	✓		Stock-Other	—	—	NEW

Portfolio Performance

Performance for Q3 2026

+4.9%

Performance Last 4 Quarters

-38.9%

Stdev: +22.4%
Beta: +1.17
Alpha: -36.8%
Max Drawdown: -58.8%
Annualized Perf: -16.3%
Batting Avg vs S&P: +19.4%
Sortino: -0.87
Stutzer: -0.2
Treynor: -0.13
Sterling: -0.47
Calmar: -0.28
Information Ratio: -2.03
Tracking Error: +16.6%
Stdev Down: +17.5%
Winning Months %: +38.9%
Losing Months %: +61.1%
Best 12 Months: +19%
Worst 12 Months: -49.5%
Efficiency Ratio: +0.21
Sharpe: -0.68
Stdev Sectors: +10.8%
Skewness: +0.41
Kurtosis: -0.52
Upside Potential: +1.44

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	26	$4.6B	45	1QRVO 2KVUE 3IJH Top holdings2026-03-31 1.QRVO 2.KVUE 3.IJH 4.AQN 5.MTCH 6.ACTG 7.BILL 8.LW 9.KMX 10.RIOT
2025-12-31	22	$5.3B	26	1QRVO 2KVUE 3AQN Top holdings2025-12-31 1.QRVO 2.KVUE 3.AQN 4.BILL 5.MTCH 6.IJH 7.ADSK 8.GEN 9.CRM 10.CWAN
2025-09-30	20	$5.3B	40	1QRVO 2ADSK 3MTCH Top holdings2025-09-30 1.QRVO 2.ADSK 3.MTCH 4.BILL 5.GEN 6.IJH 7.AQN 8.KVUE 9.CRM 10.HR
2025-06-30	25	$5.8B	0	1QRVO 2MTCH 3ADSK Top holdings2025-06-30 1.QRVO 2.MTCH 3.ADSK 4.BDX 5.KVUE 6.GEN 7.AQN 8.CRM 9.IJH 10.HR
2025-03-31	22	$5.5B	100	1QRVO 2KVUE 3ADSK Top holdings2025-03-31 1.QRVO 2.KVUE 3.ADSK 4.GEN 5.MTCH 6.BDX 7.AQN 8.HR 9.ALIT 10.NWS
2024-12-31	22	$5.5B	0	1GDDY 2GEN 3MTCH Top holdings2024-12-31 1.GDDY 2.GEN 3.MTCH 4.KVUE 5.PFE 6.HR 7.ALIT 8.ADSK 9.AQN 10.ACTG
2024-09-30	20	$4.7B	0	1ADSK 2GDDY 3GEN Top holdings2024-09-30 1.ADSK 2.GDDY 3.GEN 4.CRM 5.MTCH 6.AQN 7.ALIT 8.WIX 9.ACTG 10.NWS
2024-06-30	20	$4.3B	0	1GDDY 2GEN 3CRM Top holdings2024-06-30 1.GDDY 2.GEN 3.CRM 4.AQN 5.ALIT 6.ACTG 7.WIX 8.NWS 9.NWSA 10.IWN
2024-03-31	23	$4.8B	0	1GDDY 2GEN 3AQN Top holdings2024-03-31 1.GDDY 2.GEN 3.AQN 4.ALIT 5.CRM 6.HUM 7.WIX 8.ACTG 9.IWN 10.BLMN
2023-12-31	28	$4.8B	0	1GDDY 2HUM 3GEN Top holdings2023-12-31 1.GDDY 2.HUM 3.GEN 4.WIX 5.CRM 6.AQN 7.IWN 8.FTRE 9.ACTG 10.BLMN
2023-09-30	25	$3.9B	0	1GDDY 2HUM 3CRM Top holdings2023-09-30 1.GDDY 2.HUM 3.CRM 4.AQN 5.WIX 6.GEN 7.ACM 8.ACTG 9.IWN 10.BLMN
2023-06-30	48	$4.6B	0	1GDDY 2SPLKCHF 3CRM Top holdings2023-06-30 1.GDDY 2.SPLKCHF 3.CRM 4.HUM 5.VRT 6.GEN 7.ACM 8.WIX 9.AQN 10.IWN
2023-03-31	104	$5.0B	0	1GDDY 2CRM 3ACM Top holdings2023-03-31 1.GDDY 2.CRM 3.ACM 4.SPLKCHF 5.WTW 6.HUM 7.GEN 8.VRT 9.WIX 10.MRCY
2022-12-31	148	$5.2B	0	1GDDY 2ACM 3WTW Top holdings2022-12-31 1.GDDY 2.ACM 3.WTW 4.GEN 5.CRM 6.HUM 7.VRT 8.PZZA 9.WIX 10.MRCY
2022-09-30	177	$4.5B	0	1GDDY 2ACM 3HUM Top holdings2022-09-30 1.GDDY 2.ACM 3.HUM 4.WTW 5.GEN 6.WIX 7.CVLT 8.PZZA 9.MRCY 10.ON
2022-06-30	185	$5.5B	0	1GDDY 2ACM 3HUM Top holdings2022-06-30 1.GDDY 2.ACM 3.HUM 4.WTW 5.GEN 6.ON 7.MRCY 8.CVLT 9.HUN 10.23284C
2022-03-31	171	$7.5B	0	1GDDY 2HUN 3ACM Top holdings2022-03-31 1.GDDY 2.HUN 3.ACM 4.WTW 5.GEN 6.HUM 7.ON 8.CTVA 9.PZZA 10.IWM
2021-12-31	136	$7.2B	0	1HUN 2GDDY 3ACM Top holdings2021-12-31 1.HUN 2.GDDY 3.ACM 4.ON 5.WTW 6.GEN 7.CTVA 8.PZZA 9.CERNCHF 10.ACIW
2021-09-30	67	$5.5B	0	1ACM 2GEN 3CTVA Top holdings2021-09-30 1.ACM 2.GEN 3.CTVA 4.ON 5.PZZA 6.HUN 7.IWM 8.CVLT 9.BOX 10.ACIW
2021-06-30	73	$5.1B	96	1ACM 2GEN 3CTVA Top holdings2021-06-30 1.ACM 2.GEN 3.CTVA 4.PZZA 5.ACIW 6.ON 7.BOX 8.CVLT 9.ELAN 10.MD
2021-03-31	38	$4.7B	22	1CTVA 2ACM 3GEN Top holdings2021-03-31 1.CTVA 2.ACM 3.GEN 4.ON 5.ACIW 6.BOX 7.CVLT 8.GDOT 9.ELAN 10.MMSI
2020-12-31	18	$3.9B	58	1CTVA 2GEN 3ACM Top holdings2020-12-31 1.CTVA 2.GEN 3.ACM 4.ACIW 5.ON 6.CVLT 7.GDOT 8.MMSI 9.MD 10.BOX
2020-09-30	19	$3.4B	54	1SPY 2CTVA 3ACM Top holdings2020-09-30 1.SPY 2.CTVA 3.ACM 4.GEN 5.AAP 6.GDOT 7.MMSI 8.MGLNUSD 9.CVLT 10.CERNCHF
2020-06-30	21	$2.8B	31	1GEN 2AAP 3ACM Top holdings2020-06-30 1.GEN 2.AAP 3.ACM 4.GDOT 5.MMSI 6.BOX 7.CERNCHF 8.MGLNUSD 9.CVLT 10.MD
2020-03-31	18	$2.5B	71	1GEN 2AAP 3EBAY Top holdings2020-03-31 1.GEN 2.AAP 3.EBAY 4.CERNCHF 5.CVLT 6.ACM 7.BOX 8.MMSI 9.GDOT 10.GCPEUR
2019-12-31	16	$3.5B	100	1SPY 2GEN 3AAP Top holdings2019-12-31 1.SPY 2.GEN 3.AAP 4.EBAY 5.CERNCHF 6.ACM 7.MGLNUSD 8.IWN 9.BOX 10.GCPEUR
2019-09-30	16	$3.0B	32	1SYMCEUR 2AAP 3PRGO Top holdings2019-09-30 1.SYMCEUR 2.AAP 3.PRGO 4.CERNCHF 5.IWN 6.ACM 7.MGLNUSD 8.EBAY 9.BOX 10.GCPEUR
2019-06-30	20	$3.3B	36	1SYMCEUR 2AAP 3PRGO Top holdings2019-06-30 1.SYMCEUR 2.AAP 3.PRGO 4.CERNCHF 5.IWN 6.MGLNUSD 7.ACM 8.EBAY 9.CARS 10.GCPEUR
2019-03-31	20	$4.1B	66	1SYMCEUR 2AAP 3PRGO Top holdings2019-03-31 1.SYMCEUR 2.AAP 3.PRGO 4.MRVL 5.IWN 6.EBAY 7.DLTR 8.CERNCHF 9.MGLNUSD 10.CARS
2018-12-31	16	$3.2B	46	1MRVL 2AAP 3SYMCEUR Top holdings2018-12-31 1.MRVL 2.AAP 3.SYMCEUR 4.M51363 5.PRGO 6.DLTR 7.CARS 8.AABAUSD 9.MGLNUSD 10.BAX
2018-09-30	16	$3.9B	39	1PRGO 2MRVL 3AAP Top holdings2018-09-30 1.PRGO 2.MRVL 3.AAP 4.SYMCEUR 5.345605 6.M51363 7.CARS 8.AABAUSD 9.94733A 10.081437
2018-06-30	18	$4.0B	31	1PRGO 2MRVL3M51363 Top holdings2018-06-30 1.PRGO 2.MRVL 3.M51363 4.AAP 5.AABAUSD 6.345605 7.NWL 8.CARS 9.081437 10.94733A
2018-03-31	16	$4.6B	36	1PRGO 2AABAUSD 3MRVL Top holdings2018-03-31 1.PRGO 2.AABAUSD 3.MRVL 4.NWL 5.M51363 6.AAP 7.345605 8.CARS 9.29414D 10.MAC
2017-12-31	19	$4.1B	30	1PRGO 2AABAUSD 3MRVL Top holdings2017-12-31 1.PRGO 2.AABAUSD 3.MRVL 4.M51363 5.AAP 6.FTNT 7.CARS 8.345605 9.081437 10.STC
2017-09-30	24	$3.7B	29	1PRGO 2AABAUSD 3MRVL Top holdings2017-09-30 1.PRGO 2.AABAUSD 3.MRVL 4.AAP 5.FTNT 6.29414D 7.BCO 8.STC 9.345605 10.BAX
2017-06-30	22	$3.4B	57	1PRGO 2AABAUSD 3MRVL Top holdings2017-06-30 1.PRGO 2.AABAUSD 3.MRVL 4.AAP 5.HPE 6.FTNT 7.BCO 8.345605 9.STC 10.CTSH
2017-03-31	21	$3.3B	32	1PRGO29843323MRVL Top holdings2017-03-31 1.PRGO 2.984332 3.MRVL 4.AAP 5.BCO 6.FTNT 7.HPE 8.CTSH 9.STC 10.BAX
2016-12-31	23	$3.4B	46	1PRGO 2AAP3984332 Top holdings2016-12-31 1.PRGO 2.AAP 3.984332 4.MRVL 5.BCO 6.BAX 7.M 8.STC 9.ROK 10.HPE
2016-09-30	24	$3.7B	55	1PRGO29843323MRVL Top holdings2016-09-30 1.PRGO 2.984332 3.MRVL 4.IWM 5.AAP 6.BCO 7.249908 8.WRKUSD 9.HPE 10.M
2016-06-30	23	$2.8B	35	19843322AAP 3IWM Top holdings2016-06-30 1.984332 2.AAP 3.IWM 4.DRI 5.WRKUSD 6.MRVL 7.BCO 8.249908 9.NSP 10.BAX
2016-03-31	18	$2.8B	66	19843322DRI 3IWM Top holdings2016-03-31 1.984332 2.DRI 3.IWM 4.AAP 5.MRVL 6.WRKUSD 7.M 8.NSP 9.BCO 10.BAX
2015-12-31	23	$3.7B	36	1IWM 2DRI 3AAP Top holdings2015-12-31 1.IWM 2.DRI 3.AAP 4.984332 5.WRKUSD 6.584045 7.NSP 8.BCO 9.M 10.58441K
2015-09-30	32	$4.5B	61	1IWM 2DRI 3AAP Top holdings2015-09-30 1.IWM 2.DRI 3.AAP 4.WRKUSD 5.ODPEUR 6.984332 7.M 8.NSP 9.BCO 10.584045
2015-06-30	36	$4.4B	33	1IWM 2DRI 3ODPEUR Top holdings2015-06-30 1.IWM 2.DRI 3.ODPEUR 4.583334 5.855030 6.M 7.NSP 8.984332 9.BCO 10.88164L
2015-03-31	28	$4.8B	33	1IWM 2DRI3583334 Top holdings2015-03-31 1.IWM 2.DRI 3.583334 4.ODPEUR 5.855030 6.984332 7.NSP 8.BW 9.88164L 10.594793
2014-12-31	30	$4.4B	100	1IWM 2DRI3855030 Top holdings2014-12-31 1.IWM 2.DRI 3.855030 4.ODPEUR 5.583334 6.984332 7.88164L 8.BW 9.594793 10.WPP
2014-09-30	28	$2.9B	0	1DRI 2IWM3583334 Top holdings2014-09-30 1.DRI 2.IWM 3.583334 4.984332 5.ODPEUR 6.88164L 7.BW 8.00184X 9.594793 10.458118
2014-06-30	29	$2.6B	49	1IWM25833343DRI Top holdings2014-06-30 1.IWM 2.583334 3.DRI 4.ODPEUR 5.BW 6.88164L 7.88632Q 8.WPP 9.458118 10.CW
2014-03-31	24	$1.8B	100	1DRI 2IWM 3ODPEUR Top holdings2014-03-31 1.DRI 2.IWM 3.ODPEUR 4.88164L 5.WPP 6.CLVT 7.458118 8.AANUSD 9.BW 10.89674K
2013-12-31	23	$2.0B	0	1DRI 2IWM 3ODPEUR Top holdings2013-12-31 1.DRI 2.IWM 3.ODPEUR 4.458118 5.89674K 6.CLVT 7.WPP 8.88164L 9.205638 10.BW
2013-09-30	25	$1.2B	0	1ODPEUR24581183205638 Top holdings2013-09-30 1.ODPEUR 2.458118 3.205638 4.WPP 5.CLVT 6.88164L 7.89674K 8.NVDA 9.292475 10.RGS 5 07-15-14
2013-06-30	25	$1.4B	100	1SFD 2ODPEUR3458118 Top holdings2013-06-30 1.SFD 2.ODPEUR 3.458118 4.205638 5.CLVT 6.89674K 7.WPP 8.88164L 9.NVDA 10.RGS 5 07-15-14

Holding changes this quarter

Position changes disclosed by Starboard Value LP for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	ACTG	Acacia Research CORP	+2.1%	—	Unchanged
2	IJH	Ishares Core S&p Midcap ETF	+2.1%	+11.05%	Add
3	KVUE	Kenvue INC	+1.4%	—	Unchanged
4	RIOT	Riot Platforms INC	+1.2%	+28.19%	Add
5	QRVO	Qorvo INC	+0.7%	—	Unchanged
6	MTCH	Match Group INC	+0.7%	—	Unchanged
7	AQN	Algonquin Power & Utilities	+0.3%	-9.92%	Trim
8	NWSA	News CORP - Class A	+0.1%	-4.93%	Trim
9	BLMN	Bloomin' Brands INC	0%	—	Unchanged
10	✓	Bitcoin Infrastructure Acqui Usd Cl	0%	—	Unchanged
11	TRIP	Tripadvisor INC	-0.2%	+11.72%	Add
12	IWM	Ishares Russell 2000 ETF	-0.6%	+398.61%	Add
13	ROG	Rogers CORP	-0.7%	-51.45%	Trim
14	NWS	News CORP - Class B	-0.9%	-41.68%	Trim
15	FLR	Fluor CORP	-1%	-44.40%	Trim
16	BDX	Becton Dickinson And Co	-1.2%	-31.55%	Trim
17	BILL	Bill Holdings INC	-1.4%	—	Unchanged
18	HR	Healthcare Realty Trust INC	-1.5%	-45.86%	Trim
19	CWAN	Clearwater Analytics Holdings, Inc.	-1.7%	-45.19%	Trim
20	GEN	Gen Digital INC	-2.2%	-26.25%	Trim
21	ADSK	Autodesk INC	—	EXIT	Sold out
22	LW	Lamb Weston Holdings INC	—	NEW	New buy
23	KMX	Carmax INC	—	NEW	New buy
24	CRM	Salesforce INC	—	EXIT	Sold out
25	GPGI	Gpgi INC	—	NEW	New buy
26	HYG	Ishr Ibx Usd Hiyld Cb Etf-ui	—	NEW	New buy
27	✓		—	NEW	New buy