Starboard Value, an activist hedge fund, has initiated new positions in two consumer stocks: Lamb Weston and Carmax, as revealed in a recent regulatory filing. The total investment in these two companies is approximately $258 million. In the first quarter, both stocks experienced gains, with Lamb Weston increasing nearly 2% and Carmax rising more than 7%.
However, their performance diverges year-to-date; Lamb Weston has appreciated over 5% in 2026, while Carmax has seen a decline of more than 4%. Within Starboard's portfolio, Lamb Weston and Carmax rank eighth and ninth among its top ten holdings.
Additionally, Starboard has boosted its stake in Riot Platforms, a bitcoin mining and digital infrastructure firm, by 22%, bringing its total investment in that company to around $192 million. Despite a more than 2% drop in the last quarter, Riot Platforms has surged over 85% this year, highlighting the volatility and potential of the cryptocurrency sector