Starboard Value 13F, Q3 2025
Jeff Smith · quarter ending 30 September 2025 · filed 14 November 2025 · SEC CIK 1517137
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q3 2025
Weights are against the whole filed book. Changes are in shares held, against the Q2 2025 filing.
| Company | Ticker | Value | % of book | vs Q2 2025 |
|---|---|---|---|---|
| QORVO INC | QRVO | $684.09M | 12.9% | -5% shares |
| AUTODESK INC | ADSK | $417.10M | 7.8% | -11% shares |
| MATCH GROUP INC NEW | MTCH | $391.01M | 7.4% | -28% shares |
| BILL HOLDINGS INC | BILL | $372.11M | 7.0% | new |
| GEN DIGITAL INC | GEN | $345.53M | 6.5% | -9% shares |
| ISHARES TR | IJH | $342.66M | 6.5% | unchanged |
| ALGONQUIN PWR UTILS CORP | AQN | $340.94M | 6.4% | unchanged |
| KENVUE INC | KVUE | $339.69M | 6.4% | unchanged |
| SALESFORCE INC | CRM | $294.39M | 5.5% | unchanged |
| HEALTHCARE RLTY TR | HR | $261.26M | 4.9% | -25% shares |
| BECTON DICKINSON & CO | BDX | $226.10M | 4.3% | -54% shares |
| NEWS CORP NEW | NWS | $207.89M | 3.9% | -12% shares |
| ACACIA RESH CORP | ACTG | $198.65M | 3.7% | unchanged |
| NEWS CORP NEW | NWSA | $195.98M | 3.7% | -6% shares |
| RIOT PLATFORMS INC | RIOT | $167.81M | 3.2% | +89% shares |
| TRIPADVISOR INC | TRIP | $154.64M | 2.9% | +12% shares |
| ALIGHT INC | ALITEUR | $149.52M | 2.8% | unchanged |
| ROGERS CORP | ROG | $134.89M | 2.5% | +86% shares |
| BLOOMIN BRANDS INC | BLMN | $57.22M | 1.1% | unchanged |
| ISHARES TR | IWM | $33.15M | 0.6% | -60% shares |
What changed since Q2 2025
Against the Q2 2025 filing, Starboard Value opened 1 new position, added to 3, trimmed 9, left 7 unchanged and exited 5. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
New positions
- BILL$372.11M
Other quarters
Source: SEC Form 13F-HR, accession 0000921895-25-003099, 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.