Starboard Value’s Elanco Animal Health ELAN Stock Holding History

Starboard Value’s Portfolio ELAN Stock Details ELAN Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2022 Q3	–	Sell	-5,731,575	Closed	-$113M	–	180
2022 Q2	$113M	Sell	5,731,575 -1,168,980	-17%	-$27.7M	2.04%	16
2022 Q1	$180M	Sell	6,900,555 -785,000	-10%	-$20.9M	2.39%	18
2021 Q4	$218M	Buy	7,685,555 +373,843	+5%	+$11.6M	3.02%	14
2021 Q3	$233M	Sell	7,311,712 -295,000	-4%	-$9.9M	4.27%	13
2021 Q2	$264M	Sell	7,606,712 -223,965	-3%	-$7.39M	5.18%	9
2021 Q1	$231M	Buy	+7,830,677	New	+$241M	4.92%	9

Other funds holding ELAN

Dodge & Cox San Francisco, California $182B AUM 14.68% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

Primecap Management Pasadena, California $127B AUM 44.11% 1-Year Est. Return

SHCM

Sachem Head Capital Management New York $4.15B AUM 48.05% 1-Year Est. Return

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

T. Rowe Price Associates Baltimore, Maryland $865B AUM 30.76% 1-Year Est. Return

Janus Henderson Group London, United Kingdom $209B AUM 37.72% 1-Year Est. Return

Amundi Paris, France $367B AUM 31.23% 1-Year Est. Return

Franklin Resources San Mateo, California $408B AUM 30.18% 1-Year Est. Return

Citadel Advisors Miami, Florida $618B AUM 30.34% 1-Year Est. Return

Starboard Value's ELAN Position: Q3 2022 in Review

Starboard Value sold out of Elanco Animal Health (ELAN) in Q3 2022, closing a stake of 5,731,575 shares — an estimated $113M sold.

Starboard Value first reported a position in ELAN in Q1 2021 and held it in 6 quarters. The position peaked at $264M in Q2 2021. 418 funds tracked by Wall St. Rank hold ELAN as of Q3 2022.

Starboard Value reported no remaining Elanco Animal Health position as of Q3 2022 after selling out during the quarter.
Starboard Value sold 5,731,575 Elanco Animal Health shares in Q3 2022, an estimated $113M.
Starboard Value first reported a position in Elanco Animal Health in Q1 2021 and held it in 6 quarters.
Starboard Value's Elanco Animal Health position peaked at $264M in Q2 2021.
418 funds tracked by Wall St. Rank held Elanco Animal Health as of Q3 2022.

Based on Starboard Value's 13F filing for Q3 2022, filed 14 Nov 2022.