Starboard Value LP 13F: Quarter-over-Quarter Portfolio Changes
Starboard Value LP reported a disclosed portfolio value of approximately $4.6 billion in its latest SEC Form 13F-HR filing for Q1 2026, down 13.5% quarter on quarter. Over the quarter, the fund initiated 4 new positions, bought more shares in 3 holdings, trimmed 9 holdings, and exited 3 positions.
Starboard Value LP's top buy was a new stake in Lamb Weston Hldgs INC (LW) , equal to 5.7% of the disclosed portfolio. Its top sell was Autodesk INC (ADSK) . The fund exited the position completely after it had accounted for 5.6% of the previous portfolio.
New PositionsQ1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| LAMB WESTON HLDGS INC | LW | 5.7% | History → |
| CARMAX INC | KMX | 5.6% | History → |
| GPGI INC | GPGI | 1.9% | Holders → |
| BITCOIN INFRASTRUCTURE ACQUI | BIXIW | 0.0% | Holders → |
Top BuysQ1 2026
The fund's top buys among existing positions in Q1 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| RIOT PLATFORMS INC | RIOT | +1.1% | +22.0% | History → |
| TRIPADVISOR INC | TRIP | +-0.1% | +11.7% | Holders → |
| ISHARES TR | IJH | +2.1% | +11.0% | History → |
Top SellsQ1 2026
The fund's top sells among positions it retained in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| ROG | ROG | -0.7% | 51.4% | Holders → |
| HEALTHCARE RLTY TR | HR | -1.5% | 45.9% | Holders → |
| CLEARWATER ANALYTICS HOLDINGS INC | CWAN | -1.7% | 45.2% | Holders → |
| FLUOR CORP | FLR | -0.9% | 44.4% | Holders → |
| NEWS CORP NEW | NWS | -0.9% | 41.7% | Holders → |
| BECTON DICKINSON & CO (BDX) | BDX | -1.2% | 31.6% | Holders → |
| GEN DIGITAL INC | GEN | -2.2% | 26.2% | Holders → |
| ALGONQUIN POWER & UTILITIES | AQN | 0.3% | 9.9% | History → |
| NEWS CORPORATION CLASS A | NWSA | 0.1% | 4.9% | Holders → |
Full ExitsQ1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| AUTODESK INC | ADSK | 5.6% |
| SALESFORCE INC | CRM | 4.7% |
| ISHARES TR | IWM | 0.6% |
Net Portfolio Value ChangeQ1 2026
- $5.3BPrior quarter
- $4.6BCurrent quarter
- $-0.7BNet delta
- -13.5%% change
Methodology & FAQ
How Starboard Value LP Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Starboard Value LP: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description — including how confidential treatment filings are handled — is documented in the Methodology.
What stocks did Starboard Value LP buy in Q1 2026?
In Q1 2026, Starboard Value LP initiated 4 new positions (LAMB WESTON HLDGS INC (LW), CARMAX INC (KMX), GPGI INC (GPGI), BITCOIN INFRASTRUCTURE ACQUI (BIXIW)); bought more shares of RIOT PLATFORMS INC (RIOT), TRIPADVISOR INC (TRIP), ISHARES TR (IJH).
What stocks did Starboard Value LP sell in Q1 2026?
In Q1 2026, Starboard Value LP fully sold 3 positions (AUTODESK INC (ADSK), SALESFORCE INC (CRM), ISHARES TR (IWM)); reduced holdings in ROG (ROG), HEALTHCARE RLTY TR (HR), CLEARWATER ANALYTICS HOLDINGS INC (CWAN), FLUOR CORP (FLR), NEWS CORP NEW (NWS) — the largest 5 of 9 reductions.
Which positions did Starboard Value LP initiate in Q1 2026?
Starboard Value LP established 4 new positions in Q1 2026: LAMB WESTON HLDGS INC (LW, 5.7%), CARMAX INC (KMX, 5.6%), GPGI INC (GPGI, 1.9%), BITCOIN INFRASTRUCTURE ACQUI (BIXIW, 0.0%).
Which existing positions saw the largest allocation increases for Starboard Value LP in Q1 2026?
Of 3 existing positions with share-count increases in Q1 2026, the largest were: RIOT PLATFORMS INC (RIOT, +1.1% weight, +22.0% shares), TRIPADVISOR INC (TRIP, +-0.1% weight, +11.7% shares), ISHARES TR (IJH, +2.1% weight, +11.0% shares).
Which positions did Starboard Value LP fully exit in Q1 2026?
Starboard Value LP fully exited 3 positions in Q1 2026: AUTODESK INC (ADSK, last-reported weight 5.6%), SALESFORCE INC (CRM, last-reported weight 4.7%), ISHARES TR (IWM, last-reported weight 0.6%).
Which existing positions saw the largest allocation reductions for Starboard Value LP in Q1 2026?
Of 9 existing positions with share-count reductions in Q1 2026, the largest were: ROG (ROG, -0.7% weight, -51.4% shares), HEALTHCARE RLTY TR (HR, -1.5% weight, -45.9% shares), CLEARWATER ANALYTICS HOLDINGS INC (CWAN, -1.7% weight, -45.2% shares), FLUOR CORP (FLR, -0.9% weight, -44.4% shares), NEWS CORP NEW (NWS, -0.9% weight, -41.7% shares), BECTON DICKINSON & CO (BDX) (BDX, -1.2% weight, -31.6% shares), GEN DIGITAL INC (GEN, -2.2% weight, -26.2% shares), ALGONQUIN POWER & UTILITIES (AQN, 0.3% weight, -9.9% shares), NEWS CORPORATION CLASS A (NWSA, 0.1% weight, -4.9% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.