Starboard Value LP — Quarter-over-Quarter 13F Allocation Shifts Q1 2026
In Q1 2026, Starboard Value LP initiated 4 new positions, increased allocation to 3 existing positions, trimmed 9 positions, and exited 3 positions entirely. The fund's 13F equity book declined from $5.28B to $4.57B (-13.5% QoQ) . All deltas are sourced from sequential SEC Form 13F-HR filings; share-count changes reflect explicit trading activity, while weight changes can also include price movement. This page lists every position change reported — the portfolio overview shows a summary of the top shifts.
Net Portfolio Value Change
- $5.28BPrior quarter
- $4.57BCurrent quarter
- $-0.71BNet delta
- -13.5%% change
New Position Initiations Q1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Allocation Weight | History |
|---|---|---|---|
| LAMB WESTON HOLDINGS INC | LW | 5.66% | History → |
| CARMAX INC | KMX | 5.64% | History → |
| GPGI INC | GPGI | 1.88% | Holders → |
| BITCOIN INFRASTRUCTURE ACQUI | BIXIW | 0.00% | Holders → |
Largest Allocation Increases Q1 2026
Largest portfolio-weight increases in existing positions. Share-count delta is shown separately so price-only re-weighting can be distinguished from active adds.
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| RIOT PLATFORMS INC | RIOT | +1.15% | +21.97% | History → |
| TRIPADVISOR INC | TRIP | +-0.15% | +11.72% | Holders → |
| ISHARES TR | IJH | +2.06% | +11.05% | History → |
Largest Allocation Reductions Q1 2026
Largest portfolio-weight decreases in existing positions (positions kept open at a lower allocation).
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| ROGERS CORP | ROG | -0.71% | -51.45% | Holders → |
| HEALTHCARE RLTY TR | HR | -1.51% | -45.86% | Holders → |
| CLEARWATER ANALYTICS HLDGS I | CWAN | -1.72% | -45.19% | Holders → |
| FLUOR CORP | FLR | -0.95% | -44.40% | Holders → |
| NEWS CORPORATION CLASS A | NWS | -0.88% | -41.68% | Holders → |
| BECTON DICKINSON & CO | BDX | -1.23% | -31.55% | Holders → |
| GEN DIGITAL INC | GEN | -2.23% | -26.25% | Holders → |
| ALGONQUIN POWER & UTILITIES | AQN | 0.29% | -9.92% | History → |
| NEWS CORPORATION CLASS A | NWSA | 0.14% | -4.93% | Holders → |
Exited Positions Q1 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 | 5.62% |
| SALESFORCE INC | CRM | 4.72% |
| ISHARES TR | IWM | 0.64% |
Methodology & FAQ
How Starboard Value LP Quarterly Changes Are Computed
Each row above is computed by joining the most recent 13F-HR filing for Starboard Value LP against the immediately preceding quarterly filing for the same fund. Portfolio weights are normalized to exclude listed options for comparability. A complete description of the methodology — including how confidential treatment filings are handled and why share count rather than weight is the cleaner trading signal — is documented in the Methodology.
Which positions did Starboard Value LP initiate in Q1 2026?
Starboard Value LP established 4 new positions in Q1 2026: LAMB WESTON HOLDINGS INC (LW, 5.66%), CARMAX INC (KMX, 5.64%), GPGI INC (GPGI, 1.88%), BITCOIN INFRASTRUCTURE ACQUI (BIXIW, 0.00%).
Which existing positions saw the largest allocation increases for Starboard Value LP in Q1 2026?
The largest portfolio-weight increases in existing positions were: RIOT PLATFORMS INC (RIOT, +1.15% weight, +21.97% shares), TRIPADVISOR INC (TRIP, +-0.15% weight, +11.72% shares), ISHARES TR (IJH, +2.06% weight, +11.05% 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 5.62%), SALESFORCE INC (CRM, last-reported weight 4.72%), ISHARES TR (IWM, last-reported weight 0.64%).
Which existing positions saw the largest allocation reductions for Starboard Value LP in Q1 2026?
The largest portfolio-weight reductions in positions kept open were: ROGERS CORP (ROG, -0.71% weight, -51.45% shares), HEALTHCARE RLTY TR (HR, -1.51% weight, -45.86% shares), CLEARWATER ANALYTICS HLDGS I (CWAN, -1.72% weight, -45.19% shares), FLUOR CORP (FLR, -0.95% weight, -44.40% shares), NEWS CORPORATION CLASS A (NWS, -0.88% weight, -41.68% shares), BECTON DICKINSON & CO (BDX, -1.23% weight, -31.55% shares), GEN DIGITAL INC (GEN, -2.23% weight, -26.25% shares), ALGONQUIN POWER & UTILITIES (AQN, 0.29% weight, -9.92% shares), NEWS CORPORATION CLASS A (NWSA, 0.14% weight, -4.93% 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.