finance
Starboard Value Discloses New $258 Million Stakes in Lamb Weston and CarMax
Activist hedge fund Starboard Value disclosed new positions valued at roughly $258 million each in food processor Lamb Weston and auto retailer Carmax as of March 31, 2026. The stakes rank eighth and ninth in the firm's top 10 holdings, with bitcoin miner Riot Platforms rounding out the list after a 22% increase.
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Starboard Value started new positions in Lamb Weston and Carmax during the quarter ended March 31, 2026, according to a 13F regulatory filing. Each stake is valued at around $258 million. CNBC reported the activist hedge fund's moves.
Lamb Weston, a food processing company, rose nearly 2% in Q1 2026 and has gained more than 5% year-to-date in 2026. Carmax jumped more than 7% in the first quarter but has fallen more than 4% year-to-date. The contrasting trajectories leave the two consumer stocks moving in opposite directions for the year so far.
Lamb Weston ranks eighth among Starboard Value's top 10 holdings. Carmax ranks ninth. Riot Platforms, a bitcoin mining and digital infrastructure company, occupies tenth place. Starboard Value increased its position in Riot Platforms by 22%.
The holding is now valued at roughly $192 million. Riot Platforms declined more than 2% in Q1 2026 yet has surged more than 85% year-to-date in 2026. The 13F filing offers a snapshot of the activist investor's portfolio at the end of the first quarter.
Starboard Value's new consumer-sector bets come as Lamb Weston and Carmax delivered mixed quarterly and yearly returns. The fund's enlarged stake in Riot Platforms underscores continued exposure to cryptocurrency-related infrastructure even after that stock's first-quarter pullback.
