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Starboard Value Portfolio holdings
AUM
$4.52B
1-Year Est. Return
19.34%
This Fund
S&P 500
This Quarter
Est. Return
+11.79%
1 Year Est. Return
+19.34%
3 Year Est. Return
+55.97%
5 Year Est. Return
+85.4%
10 Year Est. Return
+430.11%
AUM
$1.24B
AUM Growth
-$187M
(-13%)
Cap. Flow
-$171M
Cap. Flow
% of AUM
-13.77%
Top 10 Holdings %
Top 10 Hldgs %
75.87%
Holding
30
New
5
Increased
5
Reduced
9
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
PLCM
POLYCOM INC
PLCM
|
+$29.7M |
| 2 |
Curtiss-Wright
CW
|
+$17M |
| 3 |
iShares Russell 2000 Value ETF
IWN
|
+$14.9M |
| 4 |
ELX
EMULEX CORP
ELX
|
+$14.3M |
| 5 |
QLGC
QLOGIC CORP
QLGC
|
+$14.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SFD
SMITHFIELD FOODS,INC
SFD
|
+$63M |
| 2 |
Progress Software
PRGS
|
+$46.7M |
| 3 |
TQNT
TRIQUINT SEMICONDUCTOR INC
TQNT
|
+$34.3M |
| 4 |
Extreme Networks
EXTR
|
+$26.9M |
| 5 |
FOE
Ferro Corporation
FOE
|
+$18.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 33.27% |
| 2 | Miscellaneous | 28.9% |
| 3 | Consumer Discretionary | 17.48% |
| 4 | Materials | 15.34% |
| 5 | Industrials | 3.74% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ODP
1
DELISTED
ODP
ODP
| $203M | 16.33% |
4,210,000
| – | – |
|
|
IDTI
2
DELISTED
Integrated Device Technology I
IDTI
| $118M | 9.46% |
12,500,000
| – | – |
|
|
CPWR
3
DELISTED
COMPUWARE CORP
CPWR
| $104M | 8.31% |
9,629,250
-260,250
| -3% | -$2.74M |
|
|
WPP
4
DELISTED
WAUSAU PAPER CORP.
WPP
| $97.4M | 7.83% |
7,500,000
| – | – |
|
|
CCC
5
DELISTED
Calgon Carbon Corp
CCC
| $93.5M | 7.51% |
4,925,000
-440,000
| -8% | -$7.87M |
|
6
Adeia
ADEA
$2.75B
| $90.9M | 7.3% |
17,766,000
+2,362,500
| +15% | +$12.5M |
|
|
TQNT
7
DELISTED
TRIQUINT SEMICONDUCTOR INC
TQNT
| $67.2M | 5.39% |
8,270,000
-4,490,000
| -35% | -$34.3M |
|
8
NVIDIA
NVDA
$5.12T
| $62.2M | 5% |
160,000,000
-16,000,000
| -9% | -$5.95M |
|
|
ELX
9
DELISTED
EMULEX CORP
ELX
| $54.7M | 4.39% |
7,050,000
+1,844,729
| +35% | +$14.3M |
|
10
iShares Russell 2000 ETF
IWM
$76.9B
| $50.6M | 4.07% |
475,000
+20,000
| +4% | +$2.07M |
|
11
Quantum Corp
QMCO
$917M
| $35.5M | 2.85% |
160,594
| – | – |
|
|
PLCM
12
DELISTED
POLYCOM INC
PLCM
| $31.1M | 2.5% |
+2,850,000
| New | +$29.7M |
|
13
BWX Technologies
BWXT
$13.4B
| $27.8M | 2.23% |
1,153,350
-171,638
| -13% | -$3.89M |
|
|
SEAC
14
DELISTED
Seachange International Inc
SEAC
| $25.3M | 2.03% |
110,250
-18,410
| -14% | -$4.24M |
|
|
15
iShares Russell 2000 Value ETF
IWN
$14.2B
| $22.4M | 1.8% |
244,899
+165,000
| +207% | +$14.9M |
|
|
16
Curtiss-Wright
CW
$20.8B
| $18.8M | 1.51% |
+400,000
| New | +$17M |
|
17
Great Elm Group
GEG
$65.1M
| $15.8M | 1.27% |
762,857
+53,440
| +8% | +$1.19M |
|
|
DSPG
18
DELISTED
DSP Group Inc
DSPG
| $15.3M | 1.23% |
2,165,000
-57,079
| -3% | -$423K |
|
|
ENTR
19
DELISTED
ENTROPIC COMMUNICATIONS INC COM STK (DE)
ENTR
| $14.7M | 1.18% |
+3,375,000
| New | +$14.1M |
|
20
Regis Corp
RGS
$69.8M
| $14.2M | 1.14% |
48,530
| – | – |
|
|
QLGC
21
DELISTED
QLOGIC CORP
QLGC
| $14.2M | 1.14% |
+1,300,000
| New | +$14.3M |
|
|
22
Progress Software
PRGS
$1.79B
| $6.46M | 0.52% |
250,000
-1,859,183
| -88% | -$46.7M |
|
|
23
Extreme Networks
EXTR
$2.88B
| $6.09M | 0.49% |
1,166,000
-6,620,000
| -85% | -$26.9M |
|
|
ELX
24
CALL
DELISTED
EMULEX CORP
ELX
| $1.94M | 0.16% |
+250,000
| New | +$1.94M |
|
|
FOE
25
DELISTED
Ferro Corporation
FOE
| – | – |
-2,650,000
| Closed | -$18.4M |
|
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Starboard Value's Q3 2013 Portfolio in Review
As of Q3 2013, Starboard Value held 30 positions worth $1.24B, down 13% from $1.43B the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Starboard Value withdrew a net $171M in Q3 2013, closing 5 positions and reducing 9 holdings. Its most notable exit was SMITHFIELD FOODS,INC, an estimated $63M position sold in full.
By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 31% a quarter earlier, followed by Miscellaneous and Consumer Discretionary.
Against the trend, Starboard Value opened a new position in POLYCOM INC worth $31.1M.
- Starboard Value's largest Q3 2013 buy was POLYCOM INC: 2,850,000 shares worth $31.1M.
- Starboard Value added most to iShares Russell 2000 Value ETF in Q3 2013, an estimated $14.9M increase.
- Starboard Value's biggest Q3 2013 reduction was Progress Software, cutting an estimated $46.7M.
- Starboard Value fully exited SMITHFIELD FOODS,INC in Q3 2013, selling an estimated $63M.
- Starboard Value's ten largest holdings make up 76% of its $1.24B portfolio in Q3 2013.
- Starboard Value opened 5 new positions and closed 5 in Q3 2013.
- Starboard Value's portfolio value fell 13% quarter-over-quarter to $1.24B.
Based on Starboard Value's 13F filing for Q3 2013, filed 12 Nov 2013.