Activist Starboard Value started new positions in two consumer stocks, according to a recent regulatory filing. The hedge fund reported adding food processing name Lamb Weston and used auto retailer Carmax in the period ended March 31. Both positions are valued at around $258 million. The two stocks notched gains in the first quarter. Lamb Weston rose nearly 2%, while Carmax jumped more than 7%. LW KMX YTD mountain LW vs. KMX, year-to-date However, the two stand opposite one another in their direction year to date. Although Lamb Weston has gained more than 5% in 2026, Carmax has fallen more than 4%. Lamb Weston and Carmax rank eighth and ninth, respectively, among Starboard’s top 10 holdings. Riot Platforms – a bitcoin mining and digital infrastructure company – rounded out the top 10 in the final spot. While not a new position, Starboard increased its position in the name by 22%. The position is now valued at roughly $192 million. Though it declined more than 2% in the quarter, that stock has surged more than 85% this year.
