---
name: Copy Starboard Value
kind: hedgecopy-fund
cik: 0001517137
latest_13f_period: 2026-06-30
latest_13f_filed: 2026-08-14
author: HedgeCopy
---

# Copy Starboard Value (13F follow-the-filing)

Starboard Value files a 13F-HR with the SEC each quarter (CIK 0001517137). This skill describes a
long-only copy portfolio built from that filing, bought the trading day after it is filed.

## Track record (estimated from 13F holdings, net of 10 bps per unit of turnover)
- Annualised return copying the filings, last 3 years (headline): +12.7% vs SPY +22.9% (alpha -10.3%/yr)
- Annualised since the series started (2022-08-19 to 2026-10-09): +10.6% vs SPY +17.3%
- Follow-the-filing TTM: +7.8% vs SPY +16.2% (alpha -8.4%)
- Quarters of history: 17; average coverage 86%; flags: none

## Latest disclosed top holdings (2026-06-30)
| # | Ticker | Issuer | Weight |
|---|---|---|---|
| 1 | IJH | ISHARES TR | 15.1% |
| 2 | QRVO | QORVO INC | 11.6% |
| 3 | KVUE | KENVUE INC | 11.5% |
| 4 | DT | DYNATRACE INC | 8.6% |
| 5 | AQN | ALGONQUIN POWER & UTILITIES | 7.4% |
| 6 | MTCH | MATCH GROUP INC NEW | 6.5% |
| 7 | ACTG | ACACIA RESH CORP | 6.3% |
| 8 | RIOT | RIOT PLATFORMS INC | 6.1% |
| 9 | BILL | BILL HOLDINGS INC | 5.6% |
| 10 | LW | LAMB WESTON HLDGS INC | 5.5% |
| 11 | KMX | CARMAX INC | 3.8% |
| 12 | FLS | FLOWSERVE CORP | 2.4% |
| 13 | FLR | FLUOR CORP | 1.8% |
| 14 | GPGI | GPGI INC | 1.8% |
| 15 | TRIP | TRIPADVISOR INC | 1.5% |
| 16 | NWS | NEWS CORP NEW | 1.5% |
| 17 | NWSA | NEWS CORP NEW | 1.1% |
| 18 | HR | HEALTHCARE RLTY TR | 0.9% |
| 19 | BLMN | BLOOMIN BRANDS INC | 0.8% |
| 20 | — | BITCOIN INFRASTRUCTURE ACQUI | 0.1% |

## About the fund

Starboard Value is an American investment management firm and hedge fund headquartered in New York City. Founded in 2002, the firm specializes in activist investing, taking significant stakes in publicly traded companies to drive changes in strategy, governance, and capital allocation.

- Strategy: Activist
- Type: Activist
- Founders: Jeffrey Smith, Mark Mitchell
- Key people: Jeffrey Chad Smith (Chief Executive Officer and Chief Investment Officer); Peter Alexander Feld (Portfolio Manager and Head of Research); Pat John Gargiulo (Chief Financial Officer); Tatiana Lewin (General Counsel); Lorelei B Martin (Chief Compliance Officer)
- Founded 2002 · HQ New York, United States
- Reported AUM: $8.2bn (as of September 11, 2026)
- Website: https://www.starboardvalue.com/

### Approach
Starboard Value employs a focused and fundamental approach to investing in publicly traded companies. The firm identifies deeply undervalued companies and actively engages with their management teams and boards of directors to execute strategies that unlock shareholder value. This often involves proxy contests, restructuring, and advocating for changes in governance or capital allocation.

### History
Starboard Value began in 2002 as part of Ramius Capital, a subsidiary of the Cowen Group. In 2008, it merged with the Cowen Group and operated as its hedge fund until 2011, when it became an independent firm. The firm has since established a reputation for activist investing, frequently seeking board seats and operational changes at publicly traded companies.

### Notable positions / campaigns
- Darden Restaurants (2014): Starboard replaced the entire board of directors and Jeffrey Smith became chairman after criticizing the company's operations.
- AOL (2011): Starboard sought board seats and urged the company to return capital to shareholders and spin off its Patch division.
- Mellanox Technologies (2017): Starboard pushed for board seats and operational improvements at the semiconductor firm.
- Symantec (2018): Starboard nominated directors and successfully placed members on the board.
- BILL Holdings (2025): Starboard entered into a cooperation agreement resulting in the appointment of new independent directors.
- Pfizer (2024): Starboard disclosed a $1 billion position in the drugmaker.

_Profile generated 2026-10-09 from public sources; may be incomplete or out of date._

## Rules
- Hold the top 20 long US-equity positions from the latest 13F-HR, weighted as reported.
- Rebalance on the first trading day after each new 13F-HR is filed. Cash only, paper only.

## Parameters
```json
{
  "params": {
    "funds": [
      "0001517137"
    ],
    "top_n": 20,
    "weighting": "13f",
    "rebalance": "filing_plus_1",
    "budget_usd": 10000,
    "stop_loss_pct": null,
    "cash_only": true
  }
}
```

> Estimated from 13F holdings (long US equities only; no shorts, options, cash or fees). Past performance is not a guide to the future. Not investment advice. Paper trading only.