undamentalytics Newsletter
Sign in

Hedge fund

Starboard Value LP

13F for the quarter to June 30, 2026, filed August 14, 2026 · SEC CIK 1517137

Reported value
$4.5bn
72% in companies we cover
Positions we cover
16
Largest KVUE 11.5%
Copy, a year
+10.2%
S&P 500 +14.1%
Copy Sharpe ratio
0.48
S&P 500 0.78

How copying its 13F would have done

$10.0k$20.0k$40.0k 2013201520172019202120232025 $58.3k$36.5k
CopyS&P 500 $10,000 copying Starboard Value LP's filed holdings in companies we cover from June 14, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −43.5% (S&P 500 −31.8%); beta 0.98; alpha −2.3% a year (t = −0.61); last 12 months +12.6% against +12.1%.

Reported value by quarter

Starboard Value LP: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $2T $4T $6T Reported value, 2013-03-31: $30.8M Reported value, 2013-06-30: $1.2B Reported value, 2013-09-30: $1.2B Reported value, 2013-12-31: $1.6B Reported value, 2014-03-31: $1.4B Reported value, 2014-06-30: $2B Reported value, 2014-09-30: $2.4B Reported value, 2014-12-31: $3.2B Reported value, 2015-03-31: $3.2B Reported value, 2015-06-30: $3B Reported value, 2015-09-30: $2.9B Reported value, 2015-12-31: $2.6B Reported value, 2016-03-31: $2.4B Reported value, 2016-06-30: $2.3B Reported value, 2016-09-30: $3.2B Reported value, 2016-12-31: $3.3B Reported value, 2017-03-31: $3.2B Reported value, 2017-06-30: $3.4B Reported value, 2017-09-30: $3.7B Reported value, 2017-12-31: $4.1B Reported value, 2018-03-31: $4.5B Reported value, 2018-06-30: $4B Reported value, 2018-09-30: $3.9B Reported value, 2018-12-31: $3.2B Reported value, 2019-03-31: $4.1B Reported value, 2019-06-30: $3.3B Reported value, 2019-09-30: $3B Reported value, 2019-12-31: $3.4B Reported value, 2020-03-31: $2.5B Reported value, 2020-06-30: $2.8B Reported value, 2020-09-30: $3.4B Reported value, 2020-12-31: $3.9B Reported value, 2021-03-31: $4.7B Reported value, 2021-06-30: $5.1B Reported value, 2021-09-30: $5.5B Reported value, 2021-12-31: $7.2B Reported value, 2022-03-31: $7.5B Reported value, 2022-06-30: $5.5B Reported value, 2022-09-30: $4.5B Reported value, 2022-12-31: $5.2T Reported value, 2023-03-31: $5B Reported value, 2023-06-30: $4.6B Reported value, 2023-09-30: $3.9B Reported value, 2023-12-31: $4.7B Reported value, 2024-03-31: $4.8B Reported value, 2024-06-30: $4.3B Reported value, 2024-09-30: $4.7B Reported value, 2024-12-31: $5.5B Reported value, 2025-03-31: $5.5B Reported value, 2025-06-30: $5.8B Reported value, 2025-09-30: $5.3B Reported value, 2025-12-31: $5.3B Reported value, 2026-03-31: $4.6B Reported value, 2026-06-30: $4.5B 2013-03-31 2015-12-31 2018-09-30 2021-06-30 2024-03-31 2026-06-30 $4.5B
View chart data
Period Reported value
2013-03-31 $30.8M
2013-06-30 $1.2B
2013-09-30 $1.2B
2013-12-31 $1.6B
2014-03-31 $1.4B
2014-06-30 $2B
2014-09-30 $2.4B
2014-12-31 $3.2B
2015-03-31 $3.2B
2015-06-30 $3B
2015-09-30 $2.9B
2015-12-31 $2.6B
2016-03-31 $2.4B
2016-06-30 $2.3B
2016-09-30 $3.2B
2016-12-31 $3.3B
2017-03-31 $3.2B
2017-06-30 $3.4B
2017-09-30 $3.7B
2017-12-31 $4.1B
2018-03-31 $4.5B
2018-06-30 $4B
2018-09-30 $3.9B
2018-12-31 $3.2B
2019-03-31 $4.1B
2019-06-30 $3.3B
2019-09-30 $3B
2019-12-31 $3.4B
2020-03-31 $2.5B
2020-06-30 $2.8B
2020-09-30 $3.4B
2020-12-31 $3.9B
2021-03-31 $4.7B
2021-06-30 $5.1B
2021-09-30 $5.5B
2021-12-31 $7.2B
2022-03-31 $7.5B
2022-06-30 $5.5B
2022-09-30 $4.5B
2022-12-31 $5.2T
2023-03-31 $5B
2023-06-30 $4.6B
2023-09-30 $3.9B
2023-12-31 $4.7B
2024-03-31 $4.8B
2024-06-30 $4.3B
2024-09-30 $4.7B
2024-12-31 $5.5B
2025-03-31 $5.5B
2025-06-30 $5.8B
2025-09-30 $5.3B
2025-12-31 $5.3B
2026-03-31 $4.6B
2026-06-30 $4.5B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
KVUEKenvue11.54%$521.8m27.31M0.0%
DTDynatrace, Inc.8.61%$389.3m8.87MNew
AQNAlgonquin Power & Utilities Corp.7.41%$335.1m57.19M0.0%
MTCHMatch Group, Inc.6.54%$295.8m7.78M−31.8% Reduced
ACTGAcacia Research Corp6.30%$284.8m61.12M0.0%
RIOTRiot Platforms, Inc.6.12%$276.9m10.11M−34.9% Reduced
BILLBILL Holdings, Inc.5.62%$254.1m7.03M0.0%
LWLamb Weston Holdings, Inc.5.47%$247.6m5.73M−6.2% Reduced
KMXCarmax Inc3.75%$169.6m3.21M−48.3% Reduced
FLSFlowserve Corp2.36%$106.9m1.44MNew
FLRFluor Corp1.84%$83.1m1.59M−45.0% Reduced
GPGIGpgi, Inc.1.76%$79.7m5.03M0.0%
TRIPTripadvisor, Inc.1.54%$69.9m5.10M−52.7% Reduced
NWSANews Corp (Class A)1.12%$50.7m2.04M−63.6% Reduced
HRHealthcare Realty Trust Inc0.86%$39.1m1.94M−71.6% Reduced
BLMNBloomin' Brands, Inc.0.84%$38.2m4.18M−47.6% Reduced
CompanyBought (value)Shares
DTDynatrace, Inc.$389.3m8.87M
FLSFlowserve Corp$106.9m1.44M
BILLBILL Holdings, Inc.$32,544900

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
KMXCarmax Inc−$158.4m−2.99M
RIOTRiot Platforms, Inc.−$148.7m−5.43M
GENGen Digital Inc.−$147.0m−7.81M
MTCHMatch Group, Inc.−$137.8m−3.62M
BDXBecton Dickinson−$100.1m−636.5K
HRHealthcare Realty Trust Inc−$98.5m−4.88M
NWSANews Corp (Class A)−$88.5m−3.57M
TRIPTripadvisor, Inc.−$77.8m−5.68M
FLRFluor Corp−$68.1m−1.30M
ROGRogers Corp−$62.7m−584.3K
BLMNBloomin' Brands, Inc.−$34.7m−3.80M
LWLamb Weston Holdings, Inc.−$16.5m−381.0K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
GENGen Digital Inc.$147.0m7.81M
BDXBecton Dickinson$100.1m636.5K
ROGRogers Corp$62.7m584.3K
  • Technology37.2%
  • Consumer Staples23.7%
  • Communication Services12.8%
  • Utilities10.3%
  • Consumer Discretionary6.4%
  • Industrials5.9%
  • Financials2.5%
  • Real Estate1.2%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestJune 14, 2013 to November 2, 2026+10.2%+14.1%0.480.78−43.5%0.98
2018 onwardsJanuary 5, 2018 to November 2, 2026+6.1%+13.9%0.250.66−43.5%1.00
Last three yearsNovember 3, 2023 to November 2, 2026+12.4%+21.8%0.531.16−22.0%0.77
Last yearNovember 7, 2025 to November 2, 2026+11.4%+14.2%0.560.84−12.9%0.56

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.