Starboard Value’s Fortinet FTNT Stock Holding History

Starboard Value’s Portfolio FTNT Stock Details FTNT Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2018 Q1	–	Sell	-17,582,030	Closed	-$154M	–	18
2017 Q4	$154M	Sell	17,582,030 -2,021,020	-10%	-$16.5M	3.76%	6
2017 Q3	$141M	Sell	19,603,050 -2,750,000	-12%	-$20.9M	3.79%	5
2017 Q2	$167M	Buy	22,353,050 +1,485,930	+7%	+$11.5M	4.88%	6
2017 Q1	$160M	Buy	+20,867,120	New	+$148M	4.9%	6

Other funds holding FTNT

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

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

Bank of New York Mellon New York $544B AUM 28.31% 1-Year Est. Return

Renaissance Technologies New York $63.9B AUM 45.56% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

ClearBridge Investments New York $115B AUM 24.78% 1-Year Est. Return

Ameriprise Minneapolis, Minnesota $432B AUM 30.22% 1-Year Est. Return

VOYA Investment Management Atlanta, Georgia $96.1B AUM 40.06% 1-Year Est. Return

BHG

Blue Harbour Group Greenwich, Connecticut $353M AUM 8.9% 1-Year Est. Return

PAMU

Pictet Asset Management (UK) London, United Kingdom $91.8B AUM 47.77% 1-Year Est. Return

Starboard Value's FTNT Position: Q1 2018 in Review

Starboard Value sold out of Fortinet (FTNT) in Q1 2018, closing a stake of 17,582,030 shares — an estimated $154M sold.

Starboard Value first reported a position in FTNT in Q1 2017 and held it in 4 quarters. The position peaked at $167M in Q2 2017. 425 funds tracked by Wall St. Rank hold FTNT as of Q1 2018.

Starboard Value reported no remaining Fortinet position as of Q1 2018 after selling out during the quarter.
Starboard Value sold 17,582,030 Fortinet shares in Q1 2018, an estimated $154M.
Starboard Value first reported a position in Fortinet in Q1 2017 and held it in 4 quarters.
Starboard Value's Fortinet position peaked at $167M in Q2 2017.
425 funds tracked by Wall St. Rank held Fortinet as of Q1 2018.

Based on Starboard Value's 13F filing for Q1 2018, filed 15 May 2018.