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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
-1.17%
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
$3.9B
AUM Growth
-$725M
Cap. Flow
-$768M
Cap. Flow %
-19.67%
Top 10 Hldgs %
87%
Holding
50
New
2
Increased
4
Reduced
9
Closed
25

Top Buys

Rank Stock Value
1
BLMN icon
Bloomin' Brands
BLMN
+$222M
2
AQN icon
Algonquin Power & Utilities
AQN
+$183M
3
ACTG icon
Acacia Research
ACTG
+$157M
4
IWN icon
iShares Russell 2000 Value ETF
IWN
+$93.2M
5
IWR icon
iShares Russell Mid-Cap ETF
IWR
+$20.1M

Top Sells

Rank Stock Value
1
SPLK
Splunk Inc
SPLK
+$432M
2
VRT icon
Vertiv
VRT
+$390M
3
WTW icon
Willis Towers Watson
WTW
+$120M
4
ABCM
Abcam PLC
ABCM
+$112M
5
ACM icon
Aecom
ACM
+$76.9M

Sector Composition

Rank Sector Weight
1 Technology 47.1%
2 Industrials 18.38%
3 Healthcare 10.57%
4 Utilities 8.86%
5 Consumer Discretionary 5.25%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PZZA icon
26
Papa John's
PZZA
$993M
– –
-182,000
Closed -$13.4M
RDZN icon
27
Roadzen
RDZN
$105M
– –
-509,330
Closed -$5.41M
WTW icon
28
Willis Towers Watson
WTW
$30.3B
– –
-508,880
Closed -$120M
OKLO
29
Oklo
OKLO
$6.5B
– –
-82,300
Closed -$858K
FLD
30
Fold Holdings
FLD
$22.9M
– –
-620,000
Closed -$6.42M
AIMBU
31
DELISTED
Aimfinity Investment Corp I Subunit
AIMBU
– –
-300,000
Closed -$3.14M
GBBK
32
DELISTED
Global Blockchain Acquisition Corp. Common Stock
GBBK
– –
-600,000
Closed -$6.26M
FTII
33
DELISTED
FutureTech II Acquisition Corp. Class A Common Stock
FTII
– –
-450,000
Closed -$4.81M
CSLM
34
DELISTED
CSLM Acquisition Corp. Class A Ordinary Share
CSLM
– –
-639,252
Closed -$6.71M
ZPTA
35
DELISTED
Zapata Computing Holdings Inc. Common Stock
ZPTA
– –
-439,252
Closed -$4.67M
ASCB
36
DELISTED
A SPAC II Acquisition Corp. Ordinary Shares
ASCB
– –
-750,000
Closed -$7.91M
APCA
37
DELISTED
AP Acquisition Corp
APCA
– –
-176,348
Closed -$1.9M
SPLK
38
DELISTED
Splunk Inc
SPLK
– –
-4,068,000
Closed -$432M
CHEA
39
DELISTED
Chenghe Acquisition Co. Class A Ordinary Share
CHEA
– –
-50,000
Closed -$535K
ABCM
40
DELISTED
Abcam PLC
ABCM
– –
-4,593,000
Closed -$112M
KNSW
41
DELISTED
KnightSwan Acquisition Corporation
KNSW
– –
-750,000
Closed -$7.93M
JGGC
42
DELISTED
Jaguar Global Growth Corporation I Class A Ordinary Shares
JGGC
– –
-500,000
Closed -$5.29M
NFNT
43
DELISTED
Infinite Acquisition Corp.
NFNT
– –
-168,200
Closed -$1.78M
MBSC
44
DELISTED
M3-Brigade Acquisition III Corp.
MBSC
– –
-209,750
Closed -$2.19M
ZING
45
DELISTED
FTAC Zeus Acquisition Corp. Class A Common Stock
ZING
– –
-210,250
Closed -$2.19M
HMA
46
DELISTED
Heartland Media Acquisition Corp.
HMA
– –
-500,000
Closed -$5.27M
AFAR
47
DELISTED
Aura FAT Projects Acquisition Corp Class A Ordinary Shares
AFAR
– –
-350,000
Closed -$3.7M
1
2

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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
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ANTB
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DWM
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LPPI
Local Pensions Partnership Investment London, United Kingdom $4.63B AUM 13.51% 1-Year Est. Return
DK
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Starboard Value's Q3 2023 Portfolio in Review

As of Q3 2023, Starboard Value held 50 positions worth $3.9B, down 16% from $4.63B the previous quarter. Its ten largest holdings account for 87% of the portfolio.

Starboard Value withdrew a net $768M in Q3 2023, closing 25 positions and reducing 9 holdings. Its most notable exit was Splunk Inc, an estimated $432M position sold in full.

By sector, the portfolio is most concentrated in Technology at 47% of assets, down from 52% a quarter earlier, followed by Industrials and Healthcare.

Against the trend, Starboard Value opened a new position in Bloomin' Brands worth $205M.

  • Starboard Value's largest Q3 2023 buy was Bloomin' Brands: 8,341,000 shares worth $205M.
  • Starboard Value added most to Algonquin Power & Utilities in Q3 2023, an estimated $183M increase.
  • Starboard Value's biggest Q3 2023 reduction was Vertiv, cutting an estimated $390M.
  • Starboard Value fully exited Splunk Inc in Q3 2023, selling an estimated $432M.
  • Starboard Value's ten largest holdings make up 87% of its $3.9B portfolio in Q3 2023.
  • Starboard Value opened 2 new positions and closed 25 in Q3 2023.
  • Starboard Value's portfolio value fell 16% quarter-over-quarter to $3.9B.

Based on Starboard Value's 13F filing for Q3 2023, filed 14 Nov 2023.