Starboard Value 13F, Q2 2025
Jeff Smith · quarter ending 30 June 2025 · filed 14 August 2025 · SEC CIK 1517137
Common stock only: shares the fund reported owning at the quarter end, valued as filed. The filing also lists 1 put and call lines, reported at the value of the underlying shares; they are not ownership and are not in these totals.
Largest positions, Q2 2025
Weights are against the whole filed book. Changes are in shares held, against the Q1 2025 filing.
| Company | Ticker | Value | % of book | vs Q1 2025 |
|---|---|---|---|---|
| QORVO INC | QRVO | $668.49M | 11.6% | -5% shares |
| MATCH GROUP INC NEW | MTCH | $472.99M | 8.2% | +9% shares |
| AUTODESK INC | ADSK | $454.25M | 7.9% | -27% shares |
| BECTON DICKINSON & CO | BDX | $451.21M | 7.8% | +50% shares |
| KENVUE INC | KVUE | $438.06M | 7.6% | -5% shares |
| GEN DIGITAL INC | GEN | $391.92M | 6.8% | -24% shares |
| ALGONQUIN PWR UTILS CORP | AQN | $363.79M | 6.3% | -4% shares |
| SALESFORCE INC | CRM | $341.48M | 5.9% | +47% shares |
| ISHARES TR | IJH | $325.65M | 5.6% | +47% shares |
| HEALTHCARE RLTY TR | HR | $305.95M | 5.3% | -4% shares |
| ALIGHT INC | ALITEUR | $259.60M | 4.5% | -4% shares |
| NEWS CORP NEW | NWS | $235.45M | 4.1% | -12% shares |
| ACACIA RESH CORP | ACTG | $218.82M | 3.8% | unchanged |
| PFIZER INC | PFE | $207.06M | 3.6% | +11% shares |
| NEWS CORP NEW | NWSA | $202.06M | 3.5% | -6% shares |
| TRIPADVISOR INC | TRIP | $110.91M | 1.9% | new |
| ISHARES TR | IWM | $73.37M | 1.3% | new |
| BLOOMIN BRANDS INC | BLMN | $68.72M | 1.2% | -5% shares |
| ROGERS CORP | ROG | $61.60M | 1.1% | +12% shares |
| RIOT PLATFORMS INC | RIOT | $52.85M | 0.9% | -63% shares |
| RB GLOBAL INC | RBA | $26.67M | 0.5% | unchanged |
| GREEN DOT CORP | GDOT | $18.68M | 0.3% | -62% shares |
| FORTREA HLDGS INC | FTRE | $12.33M | 0.2% | -53% shares |
| WIX COM LTD | $7.08M | 0.1% | -5% shares |
What changed since Q1 2025
Against the Q1 2025 filing, Starboard Value opened 2 new positions, added to 6, trimmed 14, left 2 unchanged and exited 0. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
- TRIP$110.91M
- IWM$73.37M
Exited
Nothing from the previous filing was sold outright.
Other quarters
Source: SEC Form 13F-HR, accession 0000921895-25-002289, filed by Starboard Value LP. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.