Starboard Value Lp
- Regulatory AUM
- $8.2B
- Discretionary
- $8.2B
- Clients
- 11
- Avg AUM / client
- $741M
- Accounts
- 19
- Employees
- 44
AUM over time
Annual snapshots from Form ADV filings · as of Mar 06, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 11 | $5.5B | 66.9% |
| Pension and profit sharing plans | Fewer than 5 clients | $229M | 2.82% |
| State or municipal government entities | Fewer than 5 clients | $1.9B | 22.8% |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 clients | $608M | 7.46% |
| Corporations and other businesses | Fewer than 5 clients | $0 | — |
Private funds (4)
Reported in Form ADV Section 7.B.(1), filing of Mar 2024 · $5.8B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Starboard Value And Opportunity Master Fund Ltd master | Hedge Fund | Cayman Islands | $4.7B | 919 |
| Starboard X Master Fund Ltd master | Hedge Fund | Cayman Islands | $1.1B | 52 |
| Starboard Leaders Select Fund Lp master | Hedge Fund | Delaware | $24.4M | 2 |
| Starboard Leaders Fund Lp master | Hedge Fund | Delaware | $3.8M | 10 |
People (5)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Feld, Peter, Alexander | Portfolio Manager And Head Of Research | Mar 2011 (15y) | ≈ 18.75% – 50% via Starboard Principal Co Lp | |
| Marlin, Kenneth, Rod | Chief Financial Officer | Mar 2011 (15y) | Less than 5% | |
| Smith, Jeffrey, Chad | Chief Executive Officer And Chief Investment Officer | Mar 2011 (15y) | ≈ 18.75% – 50% via Starboard Principal Co Lp | |
| Cara, Lindsey, Amery | General Counsel | Feb 2024 (3y) | Less than 5% | |
| Martin, Lorelei, B | Chief Compliance Officer | Mar 2024 (2y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Starboard Principal Co Lp | Limited Partner | Mar 2011 | A | 75% or more |
| Ramius V&O Holdings Llc | Limited Partner | Mar 2011 | A | 10% – 25% |
| Starboard Value Gp Llc | General Partner | Feb 2011 | A | Less than 5% |
| Starboard Principal Co Lp | Member | Mar 2011 | B | ≈ 0% – 5% via Starboard Value Gp Llc |
| Cowen Investment Management Llc | Member | Mar 2011 | B | ≈ 7.5% – 25% via Ramius V&O Holdings Llc |
| Toronto Dominion Bank | Member | Mar 2023 | B | ≈ 5.63% – 25% via Cowen Investment Management Llc |
| Starboard Principal Co Gp Llc | General Partner | Feb 2011 | B | GP / trustee / elected manager of Starboard Principal Co Lp (indirect) |
Undisclosed: 0% – 15% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Feld, Peter, Alexander: 25% – 50% of Starboard Principal Co Lp × 75% – 100% direct ≈ 18.75% – 50% of the firm
- Smith, Jeffrey, Chad: 25% – 50% of Starboard Principal Co Lp × 75% – 100% direct ≈ 18.75% – 50% of the firm
- Starboard Principal Co Lp: 75% – 100% of Starboard Value Gp Llc × 0% – 5% direct ≈ 0% – 5% of the firm
- Cowen Investment Management Llc: 75% – 100% of Ramius V&O Holdings Llc × 10% – 25% direct ≈ 7.5% – 25% of the firm
- Toronto Dominion Bank: 75% – 100% of Cowen Investment Management Llc × 75% – 100% of Ramius V&O Holdings Llc × 10% – 25% direct ≈ 5.63% – 25% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (4, $5.8B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Starboard Value And Opportunity Master Fund Ltd | Hedge Fund | $4.7B | $1.0M | 919 |
| Starboard X Master Fund Ltd | Hedge Fund | $1.1B | $1.0M | 52 |
| Starboard Leaders Select Fund Lp | Hedge Fund | $24.4M | $50.0M | 2 |
| Starboard Leaders Fund Lp | Hedge Fund | $3.8M | $5.0M | 10 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/06/2026 | 1.85 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- State Street $1.3B (16% of AUM) Mar 2026
- Goldman Sachs $608M (7% of AUM) Mar 2026
- BNY Mellon $549M (7% of AUM) Mar 2026
- J.P. Morgan $229M (3% of AUM) Mar 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 06, 2026.
View current Form ADV (SEC/IAPD) ↗