Activist investor, long-only 13F filer
Starboard Value
US long stock positions, not assets under management; options add 1.9M USD at notional
Form 13F-HR, filed 14 August 2026
Starboard Value has stopped filing, or filed late: its most recent 13F in our EDGAR ingest was filed 14 August 2026, covering the quarter ended 30 June 2026 — 1 reporting quarter behind the newest filing among managers we track. Everything below is that last filing, not a current portfolio.
How has Starboard Value's portfolio moved against the S&P 500?
Starboard Value's latest 13F filing covers the quarter ended 30 June 2026 and was filed 14 August 2026 (45 days after quarter end): 22 disclosed US-listed positions — 4.5B USD in long stock plus 1.9M USD in options at notional value. Two new buys, two adds, nine trims and six exits against the prior quarter. Holdings are up to 45 days old by the time they clear EDGAR.
Since Sept 2025Starboard Value -15%S&P 500 from Dec 2025 +9%
The line rebuilds Starboard Value's disclosed 13F holdings at each filing and holds them to the next, tracked against the S&P 500 where daily price history overlaps. Long US equity only — an illustrative read, not an audited return.
Since Sept 2024Starboard Value -4%S&P 500 from Dec 2025 +9%
The line rebuilds Starboard Value's disclosed 13F holdings at each filing and holds them to the next, tracked against the S&P 500 where daily price history overlaps. Long US equity only — an illustrative read, not an audited return.
- Long stock value
- 4.5B USD
- Positions
- 22
- Top holding
- IJH, 15.1%
- Top sector
- Technology 32%
- New buys, Q2 2026
- 2
- Exits, Q2 2026
- 6
Values as reported, as of Q2 2026
Top holdings — quarter ended 30 June 2026
22 US-listed positions were disclosed for the quarter ended 30 June 2026; the 15 largest by reported value are below.
Source: SEC EDGAR Form 13F-HR, as filed.
| Position | Value | Weight | Shares | Last quarter |
|---|---|---|---|---|
| IJHISHARES TR | 684.6M USD | 15.1% | 8.9M | Added |
| QRVOQORVO INC | 523.4M USD | 11.6% | 5.6M | Trimmed |
| KVUEKENVUE INC | 521.8M USD | 11.5% | 27.3M | Held |
| DTDYNATRACE INC | 389.3M USD | 8.6% | 8.9M | New buy |
| AQNALGONQUIN POWER & UTILITIES | 335.1M USD | 7.4% | 57.2M | Held |
| MTCHMATCH GROUP INC NEW | 295.8M USD | 6.5% | 7.8M | Trimmed |
| ACTGACACIA RESH CORP | 284.8M USD | 6.3% | 61.1M | Held |
| RIOTRIOT PLATFORMS INC | 276.9M USD | 6.1% | 10.1M † | Trimmed |
| BILLBILL HOLDINGS INC | 254.1M USD | 5.6% | 7.0M | Held |
| LWLAMB WESTON HLDGS INC | 247.6M USD | 5.5% | 5.7M | Held |
| KMXCARMAX INC | 169.6M USD | 3.7% | 3.2M | Trimmed |
| FLSFLOWSERVE CORP | 106.9M USD | 2.4% | 1.4M | New buy |
| FLRFLUOR CORP | 83.1M USD | 1.8% | 1.6M | Trimmed |
| GPGIGPGI INC | 79.7M USD | 1.8% | 5.0M | Held |
| TRIPTRIPADVISOR INC | 69.9M USD | 1.5% | 5.1M | Trimmed |
† Share count moved sharply against value during the quarter — likely a stock split in the reporting, not a real position change.
Quarterly changes — quarter ended 30 June 2026
19 changes vs the prior quarter's filing, as of 30 June 2026: 2 new, 2 added, 9 trimmed and 6 sold out.
What changed against the previous quarter's filing: new positions first, then adds, trims and exits, each sorted by position size.
New buys 2Adds 2Trims 9Exits 6
| Position | Change | Shares moved | Value after |
|---|---|---|---|
| DTDYNATRACE INC | New buy | +8.9M | 389.3M USD |
| FLSFLOWSERVE CORP | New buy | +1.4M | 106.9M USD |
| IJHISHARES TR | Added | +3.0M | 684.6M USD |
| RIOTRIOT PLATFORMS INC, put option | Added | +1.6M | 1.9M USD |
| QRVOQORVO INC | Trimmed | −1.9M | 523.4M USD |
| MTCHMATCH GROUP INC NEW | Trimmed | −3.6M | 295.8M USD |
| RIOTRIOT PLATFORMS INC | Trimmed | −5.4M | 276.9M USD |
| KMXCARMAX INC | Trimmed | −3.0M | 169.6M USD |
| FLRFLUOR CORP | Trimmed | −1.3M | 83.1M USD |
| TRIPTRIPADVISOR INC | Trimmed | −5.7M | 69.9M USD |
| NWSANEWS CORP NEW | Trimmed | −3.6M | 50.7M USD |
| HRHEALTHCARE RLTY TR | Trimmed | −4.9M | 39.1M USD |
| BLMNBLOOMIN BRANDS INC | Trimmed | −3.8M | 38.2M USD |
| GENGEN DIGITAL INC | Sold out | −7.8M | was 147.0M USD |
| CWANCLEARWATER ANALYTICS HLDGS I | Sold out | −5.5M | was 129.1M USD |
| BDXBECTON DICKINSON & CO | Sold out | −636.5K | was 100.1M USD |
| ROGROGERS CORP | Sold out | −584.3K | was 62.7M USD |
| HYGISHARES TR, put option | Sold out | −3.0M | was 3.0M USD |
| IWMISHARES TR, put option | Sold out | −683.1K | was 2.7M USD |
Rows sharing a company name are separate securities of the same issuer — different share classes or option positions, as filed.
Sector allocation
Technology carries the largest share of disclosed value, at 32%.
Weights are by reported value of the quarter-end holdings; sectors from the reference list, unclassified where none matched.
| Sector | Weight | Holdings |
|---|---|---|
| Technology | 32% | BILL, DT, MTCH, QRVO |
| Consumer Defensive | 17% | KVUE, LW |
| Other / unclassified | 17% | BIXI, BIXIW, GPGI, IJH, RIOT |
| Industrials | 10% | ACTG, FLR, FLS |
| Consumer Cyclical | 9% | BLMN, KMX, NWS, NWSA, TRIP |
| Utilities | 7% | AQN |
| Financial Services | 6% | RIOT |
| Real Estate | 1% | HR |
Starboard Value: frequently asked questions
What is Starboard Value's biggest holding?
As of the quarter ended 30 June 2026, the largest disclosed position was IJH (ISHARES TR), about 15.1% of the disclosed US-listed portfolio by reported value.
What did Jeffrey Smith's Starboard Value buy in Q2 2026?
2 new positions were disclosed for the quarter ended 30 June 2026: DT, FLS. Adds and trims are listed in the quarterly-changes table on this page.
How concentrated is the portfolio?
Fairly concentrated. The top five positions are 54% of disclosed value and the top ten are 84%.
When is Starboard Value's next 13F due?
13F filings for the quarter ended 30 September 2026 are due by 16 November 2026 — managers have 45 days after each calendar quarter ends. Whether Starboard Value files is up to the manager; we show whatever EDGAR receives.
Does this show the whole portfolio?
No. Form 13F covers US-listed long equity and some options only — no short bets, bonds, cash, private businesses, non-US holdings or timing inside the quarter. Amended filings replace originals; this page always shows the latest canonical version.
Read the form itself on SEC EDGAR or see our plain-words guide to 13F filings — Starboard Value may have already changed these positions since 30 June 2026.
References
- SEC EDGAR Form 13F-HR, quarterly, up to 45 days delayed. Filings are public records. Ticker mapping via SEC public files and OpenFIGI.
- Finazon prior-day close, indicative (IEX-derived, not the official close), some closes dollar-rounded at the source