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Funds (13F)

Starboard Value LP

Backtest from 14 Jun 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+10.2%
S&P 500 +14.1%
Last 12 months
+12.6%
S&P 500 +12.1%
Sharpe ratio
0.48
S&P 500 0.78
Biggest drop
−43.5%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $58.3k$36.5k
Starboard Value LPS&P 500 $10,000 in Starboard Value LP from 14 Jun 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Starboard Value LP's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Starboard Value LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+10.2%+14.1%
Total return+265%+483%
Last 12 months+12.6%+12.1%
Last 3 months−0.3%—
Last month+2.1%—
This year so far+6.9%—
Volatility a year20.8%15.9%
Sharpe ratio0.480.78
Biggest drop−43.5%−31.8%
Beta to the S&P 5000.981.00
Alpha a year (t-statistic)−2.3% (−0.61)—
Share of weeks up55%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
KVUE16.1%——
DT12.0%——
AQN10.3%——
MTCH9.1%——
ACTG8.8%——
RIOT8.5%——
BILL7.8%——
LW7.6%——
KMX5.2%——
FLS3.3%——
FLR2.6%——
GPGI2.5%——
TRIP2.2%——
NWSA1.6%——
HR1.2%——
BLMN1.2%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest14 Jun 2013 to 2 Nov 2026+10.2%+14.1%0.480.78−43.5%0.98−2.3% (−0.61)
2018 onwards5 Jan 2018 to 2 Nov 2026+6.1%+13.9%0.250.66−43.5%1.00−6.2% (−1.38)
Last three years3 Nov 2023 to 2 Nov 2026+12.4%+21.8%0.531.16−22.0%0.77−3.9% (−0.57)
Last year7 Nov 2025 to 2 Nov 2026+11.4%+14.2%0.560.84−12.9%0.56+2.1% (0.17)
DateCompanyAction
21 Aug 2026FLSBought
21 Aug 2026DTBought
22 May 2026LWBought
22 May 2026KMXBought
22 May 2026GPGIBought
20 Feb 2026FLRBought
21 Nov 2025BILLBought
15 Aug 2025TRIPBought
16 May 2025BDXBought
21 Feb 2025RIOTBought
21 Feb 2025PFEBought
21 Feb 2025KVUEBought
21 Feb 2025HRBought
15 Nov 2024WIXBought
15 Nov 2024ROGBought
15 Nov 2024RBABought
15 Nov 2024NWSABought
15 Nov 2024MTCHBought
15 Nov 2024HUMBought
15 Nov 2024GENBought
15 Nov 2024GDOTBought
15 Nov 2024GDDYBought
15 Nov 2024FTREBought
15 Nov 2024CRMBought
15 Nov 2024BLMNBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026ROGSold
21 Aug 2026GENSold
21 Aug 2026BDXSold
22 May 2026CRMSold
22 May 2026ADSKSold
21 Nov 2025RBASold
21 Nov 2025PFESold
21 Nov 2025GDOTSold
21 Nov 2025FTRESold
16 May 2025WIXSold
16 May 2025GDDYSold
21 Feb 2025HUMSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest