In a quarterly filing released in mid-August, activist investor Starboard Value revealed it had reduced its significant stake in semiconductor manufacturer Qorvo. The disclosure shows the firm, led by Jeff Smith, sold 1.9 million shares, a 25.3% reduction of its holding, during the second quarter ending June 30, 2026. This information is based on a delayed 13F filing, which reports positions held at the end of a quarter and does not reflect trading activity since that date.
Starboard initially disclosed a major stake in Qorvo in early 2025, later securing a board seat for its head of research, Peter Feld, in May 2025, which ended a potential proxy contest. [4] Despite the large share sale, valued at an estimated $177 million, Qorvo remains a top holding for the activist fund, dropping from its largest to its second-largest position and still accounting for over 11.5% of its reported portfolio. [11, 15] Starboard has not publicly commented on the reasons for the sale.