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Starboard Value Portfolio holdings

AUM $4.57B
1-Year Est. Return 4.97%
This Fund
S&P 500
This Quarter Est. Return
+7.54%
1 Year Est. Return
+4.97%
3 Year Est. Return
+42.2%
5 Year Est. Return
+68.31%
10 Year Est. Return
+364.91%
AUM
$4.63B
AUM Growth
-$360M
Cap. Flow
-$555M
Cap. Flow %
-11.98%
Top 10 Hldgs %
81.59%
Holding
110
New
3
Increased
2
Reduced
10
Closed
62

Top Buys

Rank Stock Value
1
AQN icon
Algonquin Power & Utilities
AQN
+$290M
2
WIX icon
WIX.com
WIX
+$149M
3
ABCM
Abcam PLC
ABCM
+$79.3M
4
HUM icon
Humana
HUM
+$42.8M
5
ALCY
Alchemy Investments Acquisition Corp 1
ALCY
+$3.59M

Top Sells

Rank Stock Value
1
WTW icon
Willis Towers Watson
WTW
+$302M
2
ACM icon
Aecom
ACM
+$132M
3
CRM icon
Salesforce
CRM
+$107M
4
CVLT icon
Commault Systems
CVLT
+$95.3M
5
SPLK
Splunk Inc
SPLK
+$48.9M

Sector Composition

Rank Sector Weight
1 Technology 52.19%
2 Industrials 19.69%
3 Healthcare 11.05%
4 Financials 6.57%
5 Utilities 6.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CSLM
26
DELISTED
CSLM Acquisition Corp. Class A Ordinary Share
CSLM
$6.71M 0.14%
639,252
– –
FLD
27
Fold Holdings
FLD
$22.9M
$6.42M 0.14%
620,000
– –
GBBK
28
DELISTED
Global Blockchain Acquisition Corp. Common Stock
GBBK
$6.26M 0.14%
600,000
– –
RDZN icon
29
Roadzen
RDZN
$97.2M
$5.41M 0.12%
509,330
– –
JGGC
30
DELISTED
Jaguar Global Growth Corporation I Class A Ordinary Shares
JGGC
$5.29M 0.11%
500,000
– –
HMA
31
DELISTED
Heartland Media Acquisition Corp.
HMA
$5.27M 0.11%
500,000
– –
ISRL
32
DELISTED
Israel Acquisitions Corp
ISRL
$5.21M 0.11%
500,000
– –
FTII
33
DELISTED
FutureTech II Acquisition Corp. Class A Common Stock
FTII
$4.81M 0.1%
450,000
– –
ZPTA
34
DELISTED
Zapata Computing Holdings Inc. Common Stock
ZPTA
$4.67M 0.1%
439,252
– –
CNTM
35
DELISTED
ConnectM Technology Solutions, Inc. Common Stock
CNTM
$3.92M 0.08%
375,000
– –
AFAR
36
DELISTED
Aura FAT Projects Acquisition Corp Class A Ordinary Shares
AFAR
$3.7M 0.08%
350,000
– –
ALCY
37
DELISTED
Alchemy Investments Acquisition Corp 1
ALCY
$3.59M 0.08%
+350,000
New +$3.59M
DECA
38
DELISTED
Denali Capital Acquisition Corp. Class A Ordinary Shares
DECA
$3.21M 0.07%
300,000
– –
AIMBU
39
DELISTED
Aimfinity Investment Corp I Subunit
AIMBU
$3.14M 0.07%
300,000
– –
MBSC
40
DELISTED
M3-Brigade Acquisition III Corp.
MBSC
$2.19M 0.05%
209,750
– –
ZING
41
DELISTED
FTAC Zeus Acquisition Corp. Class A Common Stock
ZING
$2.19M 0.05%
210,250
– –
APCA
42
DELISTED
AP Acquisition Corp
APCA
$1.9M 0.04%
176,348
– –
NFNT
43
DELISTED
Infinite Acquisition Corp.
NFNT
$1.78M 0.04%
168,200
– –
OKLO
44
Oklo
OKLO
$6.76B
$858K 0.02%
82,300
– –
CHEA
45
DELISTED
Chenghe Acquisition Co. Class A Ordinary Share
CHEA
$535K 0.01%
50,000
– –
ENOV icon
46
Enovis
ENOV
$1.68B
– –
-353,165
Closed -$18.9M
FLYX icon
47
flyExclusive
FLYX
$60.1M
– –
-203,250
Closed -$2.07M
IWM icon
48
PUT
iShares Russell 2000 ETF
IWM
$79.8B
– –
-650,000
Closed -$413K
ON icon
49
ON Semiconductor
ON
$31.8B
– –
-200,000
Closed -$16.5M
STI icon
50
Solidion Technology
STI
$53.5M
– –
-10,000
Closed -$5.28M
1
2
3 4 5

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SCM
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LNWTC
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SCM
Smead Capital Management Phoenix, Arizona $4.6B AUM 27.56% 1-Year Est. Return
AG
AlTi Global New York $4.6B AUM 22.54% 1-Year Est. Return
ANTB
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DWM
Dakota Wealth Management Palm Beach Gardens, Florida $4.62B AUM 33.09% 1-Year Est. Return
DK
DJE Kapital 82049 Pullach, Germany $4.51B AUM 49.55% 1-Year Est. Return
VCM
Voleon Capital Management Berkeley, California $4.64B AUM 38.78% 1-Year Est. Return

Starboard Value's Q2 2023 Portfolio in Review

As of Q2 2023, Starboard Value held 110 positions worth $4.63B, down 7.2% from $4.99B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Starboard Value withdrew a net $555M in Q2 2023, closing 62 positions and reducing 10 holdings. Its most notable exit was Enovis, an estimated $18.9M position sold in full.

By sector, the portfolio is most concentrated in Technology at 52% of assets, up from 51% a quarter earlier, followed by Industrials and Healthcare.

Against the trend, Starboard Value opened a new position in Algonquin Power & Utilities worth $282M.

  • Starboard Value's largest Q2 2023 buy was Algonquin Power & Utilities: 34,138,650 shares worth $282M.
  • Starboard Value added most to WIX.com in Q2 2023, an estimated $149M increase.
  • Starboard Value's biggest Q2 2023 reduction was Willis Towers Watson, cutting an estimated $302M.
  • Starboard Value fully exited Enovis in Q2 2023, selling an estimated $18.9M.
  • Starboard Value's ten largest holdings make up 82% of its $4.63B portfolio in Q2 2023.
  • Starboard Value opened 3 new positions and closed 62 in Q2 2023.
  • Starboard Value's portfolio value fell 7.2% quarter-over-quarter to $4.63B.

Based on Starboard Value's 13F filing for Q2 2023, filed 11 Aug 2023.