Starboard Value LP
The positions Starboard Value LP reported on its Form 13F for Q2 2026, the quarter ending 30 Jun 2026, filed on 14 Aug 2026. Every figure below is the filing’s own: US-listed long equity, valued at the quarter end, with the change measured against the same manager’s previous filing.
Opened this quarter
A new position is the clearest thing a filing says. Somebody argued for it recently, and it is the easiest question to be ready for.
- Dynatrace Inc (DT)$389m · 8.6%
- Flowserve Corp (FLS)$107m · 2.4%
Sold out of this quarter
Exits are valued at what the position was worth in the previous filing, because by this one it is gone.
- Gen Digital Inc$147m held before
- Clearwater Analytics HLDGS I$129m held before
- Becton Dickinson & Co (BDX)$100m held before
- Rogers Corp (ROG)$63m held before
- iShares TR$3.0m held before
- iShares TR$2.7m held before
Every reported position, Q2 2026
22 positions, sorted by weight
| Position | Weight ↑ | Value | Shares | Change on the quarter | Action |
|---|---|---|---|---|---|
Bitcoin Infrastructure Acqui *W EXP 11/06/203 · CUSIP G1143H119 | 0.0% | $0 | 149,999 | unchanged 0 shares | Held |
Riot Platforms Inc (RIOT) COM PUT · CUSIP 767292105 | 0.0% | $1.9m | 2,423,400 | +$1.2m +1,630,900 shares | Added |
Bitcoin Infrastructure Acqui USD CL A ORD SHS · CUSIP G1143H101 | 0.1% | $3.0m | 300,000 | unchanged 0 shares | Held |
Bloomin Brands Inc (BLMN) COM · CUSIP 094235108 | 0.8% | $38m | 4,180,992 | -$4.9m -3,800,000 shares | Trimmed |
Healthcare Rlty TR CL A COM · CUSIP 42226K105 | 0.9% | $39m | 1,936,267 | -$77m -4,885,000 shares | Trimmed |
News Corp New CL A · CUSIP 65249B109 | 1.1% | $51m | 2,040,100 | -$89m -3,565,026 shares | Trimmed |
News Corp New CL B · CUSIP 65249B208 | 1.5% | $68m | 2,431,081 | -$5.6m -158,000 shares | Trimmed |
Tripadvisor Inc (TRIP) COM · CUSIP 896945201 | 1.5% | $70m | 5,096,996 | -$45m -5,678,000 shares | Trimmed |
Gpgi Inc (GPGI) COM CL A · CUSIP 20459V105 | 1.8% | $80m | 5,027,028 | -$6.3m 0 shares | Held |
Fluor Corp (FLR) COM · CUSIP 343412102 | 1.8% | $83m | 1,586,327 | -$52m -1,300,000 shares | Trimmed |
Flowserve Corp (FLS) COM · CUSIP 34354P105 | 2.4% | $107m | 1,441,600 | No earlier filing | New |
Carmax Inc (KMX) COM · CUSIP 143130102 | 3.7% | $170m | 3,206,438 | -$88m -2,994,924 shares | Trimmed |
Lamb Weston HLDGS Inc COM · CUSIP 513272104 | 5.5% | $248m | 5,733,982 | -$11m -381,000 shares | Trimmed |
Bill Holdings Inc (BILL) COM · CUSIP 090043100 | 5.6% | $254m | 7,025,748 | -$15m +900 shares | Added |
Riot Platforms Inc (RIOT) COM · CUSIP 767292105 | 6.1% | $277m | 10,114,576 | +$85m -5,430,000 shares | Trimmed |
Acacia Resh Corp ACACIA TCH COM · CUSIP 003881307 | 6.3% | $285m | 61,123,595 | -$9.2m 0 shares | Held |
Match Group Inc New (MTCH) COM · CUSIP 57667L107 | 6.5% | $296m | 7,775,125 | -$54m -3,620,254 shares | Trimmed |
Algonquin Power & Utilities COM · CUSIP 015857105 | 7.4% | $335m | 57,189,420 | -$16m 0 shares | Held |
Dynatrace Inc (DT) COM NEW · CUSIP 268150109 | 8.6% | $389m | 8,866,692 | No earlier filing | New |
Kenvue Inc (KVUE) COM · CUSIP 49177J102 | 12% | $522m | 27,307,632 | +$51m 0 shares | Held |
Qorvo Inc (QRVO) COM · CUSIP 74736K101 | 12% | $523m | 5,611,526 | -$58m -1,899,345 shares | Trimmed |
iShares TR CORE S&P MCP ETF · CUSIP 464287507 | 15% | $685m | 8,877,781 | +$291m +3,047,125 shares | Added |
Every filing on file
| Quarter | Period end | Filed | Book | Positions | Top 10 | Filing |
|---|---|---|---|---|---|---|
| Q2 2026 | 30 Jun 2026 | 14 Aug 2026 | $4.5bn | 22 | 84% | 13F-HR |
| Q1 2026 | 31 Mar 2026 | 15 May 2026 | $4.6bn | 26 | 75% | 13F-HR |
| Q4 2025 | 31 Dec 2025 | 17 Feb 2026 | $5.3bn | 22 | 69% | 13F-HR |
| Q3 2025 | 30 Sept 2025 | 14 Nov 2025 | $5.3bn | 20 | 71% | 13F-HR |
| Q2 2025 | 30 Jun 2025 | 14 Aug 2025 | $5.8bn | 25 | 73% | 13F-HR |
| Q1 2025 | 31 Mar 2025 | 15 May 2025 | $5.5bn | 22 | 76% | 13F-HR |
| Q4 2024 | 31 Dec 2024 | 14 Feb 2025 | $5.5bn | 22 | 71% | 13F-HR |
| Q3 2024 | 30 Sept 2024 | 14 Nov 2024 | $4.7bn | 20 | 80% | 13F-HR |
Taking this into the room
Pick one name from the top of the book and one from the new positions, and know both properly: what the company earns, what it is priced at, and what has to be true for the position to work. That is a conversation. Reciting the whole table is not, and the interviewer wrote it.
A position sold out of is worth as much preparation as one opened. Ask what changed rather than asserting the fund was wrong, and be ready for the answer that the thesis played out and the money went somewhere better.
What this filing leaves out
A 13F covers US-listed long equity at one moment in time. Shorts, bonds, cash, private positions and non-US listings never appear, and options are reported in a form that will mislead you if you read them as a position. A long/short manager showing $8bn here may run a book several times that size.
The lag matters too. Positions are as at the quarter end and the filing arrives up to forty-five days later, so what you are reading is at least six weeks old and possibly four months. Phrase it as what the filing showed, not what the fund holds today.
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