13F
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Starboard Value LP

13F equity value
$4.6B
Positions
23
Top 10 concentration
74.8%
Quarters / total new picks
26 / 44
13F equity value over time
$0M$4B$8B2017201820192020202120222023202420252026

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 26 quarters, returned -0.9% per quarter — versus +2.4% per quarter from simply owning every 13F stock. It beat that baseline in only 38.5% of quarters (excess t = -1.02, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-4.8%
t-stat
-1.02
Quarterly win rate
39%
Annualized excess
-17.8%
$1 → follow vs universe
$0.50 vs $1.63
Cumulative return: $1 invested in new picks vs universe
1.00 20180331: universe 1.04120180630: universe 0.95920181231: universe 0.94920190331: universe 0.93220190630: universe 1.00220190930: universe 1.07720191231: universe 0.86920200331: universe 1.04820200930: universe 1.28520201231: universe 1.34420210331: universe 1.35620210630: universe 1.46420210930: universe 1.31420211231: universe 1.11820220331: universe 1.20120221231: universe 1.11520230331: universe 1.17520230630: universe 1.13320230930: universe 1.28620231231: universe 1.34420240930: universe 1.33220241231: universe 1.24320250331: universe 1.35520250630: universe 1.39820250930: universe 1.57220251231: universe 1.626 20180331: follow 0.79620180630: follow 0.79320181231: follow 0.80220190331: follow 0.91420190630: follow 1.20720190930: follow 1.22220191231: follow 0.68120200331: follow 0.98220200930: follow 1.16020201231: follow 1.01820210331: follow 0.81720210630: follow 0.83920210930: follow 1.03920211231: follow 0.86420220331: follow 0.78120221231: follow 0.82620230331: follow 0.71520230630: follow 0.58520230930: follow 0.66620231231: follow 0.61520240930: follow 0.62320241231: follow 0.57920250331: follow 0.65520250630: follow 0.58620250930: follow 0.55020251231: follow 0.502 0.46 1.11 1.76 20182019202020212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 23 · 2026 Q1

Ticker Value Weight QoQ
QRVO $581M
12.7%
HOLD
KVUE $471M
10.3%
HOLD
IJH $394M
8.6%
ADD
AQN $351M
7.7%
TRIM
MTCH $350M
7.7%
HOLD
ACTG $294M
6.4%
HOLD
BILL $269M
5.9%
HOLD
LW $258M
5.7%
NEW
KMX $258M
5.6%
NEW
RIOT $192M
4.2%
ADD
GEN $147M
3.2%
TRIM
NWSA $140M
3.1%
TRIM
FLR $135M
2.9%
TRIM
CWAN $129M
2.8%
TRIM
HR $116M
2.5%
TRIM
TRIP $115M
2.5%
ADD
BDX $100M
2.2%
TRIM
GPGI $86M
1.9%
NEW
NWS $74M
1.6%
TRIM
ROG $63M
1.4%
TRIM

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

GPGIKMXLW

Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.