JEFF SMITH'S STARBOARD JUST OPENED TWO NEW $258M POSITIONS IN LAMB WESTON AND CARMAX Here are their updated largest holdings and every move they made in Q1 2026, as per @ralliesai: Top 10 holdings: 🥇 Qorvo $QRVO: $581M 🥈 Kenvue $KVUE: $471M 🥉 iShares Core S&P Mid-Cap ETF $IJH: $394M 4. Algonquin Power $AQN: $351M 5. Match Group $MTCH: $350M 6. Acacia Research $ACTG: $294M 7. Bill Holdings $BILL: $269M 8. Lamb Weston $LW: $258M (NEW) 9. CarMax $KMX: $258M (NEW) 10. Riot Platforms $RIOT: $192M New positions: - Lamb Weston $LW: $258M - CarMax $KMX: $258M - GPGI $CMPO: $86M - iShares High Yield $HYG puts: $3M - iShares Russell 2000 $IWM puts: $2.7M - Riot Platforms $RIOT puts: $705K Biggest adds: - Riot Platforms $RIOT: +22% shares - TripAdvisor $TRIP: +12% - iShares Core S&P Mid-Cap $IJH: +11% Biggest trims: - Rogers Corp $ROG: -51% shares - Healthcare Realty $HR: -46% - Clearwater Analytics $CWAN: -45% - Fluor $FLR: -44% - News Corp Class B $NWS: -42% - Becton Dickinson $BDX: -32% - Gen Digital $GEN: -26% - Algonquin Power $AQN: -10% Full exits: - Autodesk $ADSK: $297M - Salesforce $CRM: $249M - iShares Russell 2000 $IWM common: $34M (rotated into puts) The rotation: out of enterprise SaaS and broad small-cap. Into two major new activist positions in consumer names plus bearish hedges on high yield and the Russell 2000.

WE HAVE NOW OFFICIALLY COMPLETED 7 OUT OF THE 12 MONTHS IN 2026 This is how every stock in the NASDAQ 100 has performed so far in 2026 Sandisk $SNDK +411.8%🟢 Western Digital $WDC +216.3%🟢 Seagate $STX +210.9%🟢 Micron $MU +188.4%🟢 Intel $INTC +144.4%🟢 Nebius $NBIS +127.5%🟢 AMD $AMD +122.3%🟢 Marvell $MRVL +120.7%🟢 Arm Holdings $ARM +119.3%🟢 Fortinet $FTNT +103.9%🟢 Applied Materials $AMAT +97.5%🟢 Datadog $DDOG +97.1%🟢 Lumentum $LITE +93.7%🟢 Teradyne $TER +90.0%🟢 Astera Labs $ALAB +87.1%🟢 Palo Alto $PANW +80.2%🟢 Lam Research $LRCX +71.2%🟢 CrowdStrike $CRWD +62.9%🟢 Texas Instruments $TXN +58.9%🟢 Monolithic Power $MPWR +57.3%🟢 ASML $ASML +52.3%🟢 Cisco $CSCO +50.6%🟢 KLA Corp $KLAC +50.5%🟢 Ross Stores $ROST +39.4%🟢 CSX $CSX +39.0%🟢 Analog Devices $ADI +35.5%🟢 Old Dominion $ODFL +35.3%🟢 Diamondback Energy $FANG +35.0%🟢 Baker Hughes $BKR +32.8%🟢 DexCom $DXCM +25.7%🟢 Monster Beverage $MNST +25.7%🟢 Starbucks $SBUX +25.0%🟢 PACCAR $PCAR +21.2%🟢 Coca-Cola Europacific $CCEP +20.7%🟢 Marriott $MAR +20.2%🟢 Fastenal $FAST +18.9%🟢 Honeywell $HON +18.9%🟢 Amgen $AMGN +17.7%🟢 Amazon $AMZN +17.7%🟢 Microchip $MCHP +16.6%🟢 Mondelez $MDLZ +15.8%🟢 Google $GOOGL +13.8%🟢 Apple $AAPL +13.6%🟢 Broadcom $AVGO +12.5%🟢 Linde $LIN +12.2%🟢 Airbnb $ABNB +11.6%🟢 Keurig Dr Pepper $KDP +11.1%🟢 American Electric Power $AEP +10.9%🟢 Costco Wholesale $COST +10.4%🟢 Cintas CTAS +8.8%🟢 Cadence CDNS +8.8%🟢 Nvidia NVDA +7.6%🟢 Kraft Heinz KHC +6.6%🟢 Gilead Sciences GILD +6.1%🟢 Xcel Energy XEL +5.9%🟢 NXP Semiconductors NXPI +5.6%🟢 Vertex Pharmaceuticals VRTX +5.2%🟢 Exelon EXC +5.1%🟢 Paychex PAYX +4.2%🟢 ADP +3.6%🟢 Electronic Arts EA +2.7%🟢 Ferrovial FER +0.8%🟢 CoreWeave CRWV +0.2%🟢 Walmart WMT -0.2%🔴 Regeneron Pharmaceuticals REGN -1.2%🔴 PayPal PYPL -2.0%🔴 O'Reilly Automotive ORLY -2.0%🔴 PepsiCo PEP -2.8%🔴 Microsoft MSFT -3.9%🔴 Take-Two TTWO -5.1%🔴 MercadoLibre MELI -6.8%🔴 Rocket Lab RKLB -6.9%🔴 Axon AXON -7.1%🔴 Warner Bros. Discovery WBD -8.7%🔴 Booking BKNG -10.0%🔴 Roper ROP -11.9%🔴 DoorDash DASH -13.4%🔴 Qualcomm QCOM -13.7%🔴 Comcast CMCSA -14.4%🔴 T-Mobile TMUS -14.9%🔴 Meta Platforms META -15.7%🔴 GE HealthCare Technologies GEHC -17.1%🔴 Synopsys SNPS -17.2%🔴 IDEXX IDXX -17.4%🔴 Autodesk ADSK -20.9%🔴 PDD Holdings PDD -21.9%🔴 Netflix NFLX -23.5%🔴 Thomson Reuters TRI -24.5%🔴 Workday WDAY -25.4%🔴 Copart CPRT -25.6%🔴 Constellation Energy CEG -25.6%🔴 Shopify SHOP -27.2%🔴 SpaceX SPCX -27.8%🔴 Adobe ADBE -28.5%🔴 Honeywell Aerospace HONA -30.5%🔴 Palantir PLTR -30.8%🔴 Tesla TSLA -30.8%🔴 Intuitive Surgical ISRG -37.6%🔴 Strategy MSTR -38.6%🔴 AppLovin APP -41.3%🔴 Alnylam Pharmaceuticals ALNY -48.3%🔴 Intuit INTU -52.3%🔴