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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
+8.08%
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
$2.55B
AUM Growth
+$723M
(+40%)
Cap. Flow
+$411M
Cap. Flow
% of AUM
16.12%
Top 10 Holdings %
Top 10 Hldgs %
79.88%
Holding
31
New
7
Increased
6
Reduced
8
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
MWV
MEADWESTVACO CORP
MWV
|
+$379M |
| 2 |
TIBX
TIBCO SOFTWARE INC
TIBX
|
+$85.8M |
| 3 |
BWX Technologies
BWXT
|
+$55.6M |
| 4 |
Darden Restaurants
DRI
|
+$47.8M |
| 5 |
FDO
FAMILY DOLLAR STORES
FDO
|
+$42.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AAN.A
The Aaron's Company Inc Class A
AAN.A
|
+$69.6M |
| 2 |
CCC
Calgon Carbon Corp
CCC
|
+$23.4M |
| 3 |
PLCM
POLYCOM INC
PLCM
|
+$22.2M |
| 4 |
RFMD
RF MICRO DEVICES INC
RFMD
|
+$22.1M |
| 5 |
IDTI
Integrated Device Technology I
IDTI
|
+$14.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 30.07% |
| 2 | Consumer Discretionary | 25.66% |
| 3 | Materials | 23.07% |
| 4 | Technology | 8.83% |
| 5 | Industrials | 7.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares Russell 2000 ETF
IWM
$76.9B
| $451M | 17.67% |
3,793,800
+1,153,800
| +44% | +$131M |
|
|
MWV
2
DELISTED
MEADWESTVACO CORP
MWV
| $414M | 16.23% |
+9,350,000
| New | +$379M |
|
|
3
Darden Restaurants
DRI
$23.7B
| $380M | 14.9% |
9,190,134
+1,079,607
| +13% | +$47.8M |
|
|
ODP
4
DELISTED
ODP
ODP
| $264M | 10.34% |
4,632,391
| – | – |
|
|
5
BWX Technologies
BWXT
$13.4B
| $119M | 4.68% |
5,137,650
+2,341,650
| +84% | +$55.6M |
|
6
Adeia
ADEA
$2.75B
| $105M | 4.11% |
17,955,000
| – | – |
|
|
TIBX
7
DELISTED
TIBCO SOFTWARE INC
TIBX
| $86.7M | 3.4% |
+4,300,000
| New | +$85.8M |
|
|
WPP
8
DELISTED
WAUSAU PAPER CORP.
WPP
| $81.2M | 3.18% |
7,500,000
| – | – |
|
|
IDTI
9
DELISTED
Integrated Device Technology I
IDTI
| $75M | 2.94% |
4,850,000
-1,150,000
| -19% | -$14.8M |
|
10
Curtiss-Wright
CW
$20.8B
| $62M | 2.43% |
945,000
+10,000
| +1% | +$656K |
|
|
TQNT
11
DELISTED
TRIQUINT SEMICONDUCTOR INC
TQNT
| $61.8M | 2.42% |
3,911,478
-550,000
| -12% | -$8.15M |
|
|
CCC
12
DELISTED
Calgon Carbon Corp
CCC
| $56.4M | 2.21% |
2,525,000
-1,100,000
| -30% | -$23.4M |
|
|
FDO
13
DELISTED
FAMILY DOLLAR STORES
FDO
| $46.3M | 1.82% |
+700,000
| New | +$42.2M |
|
|
RLD
14
DELISTED
REALD INC COM STK
RLD
| $45.3M | 1.78% |
3,550,000
+1,300,000
| +58% | +$15.1M |
|
|
CPWR
15
DELISTED
COMPUWARE CORP
CPWR
| $45.2M | 1.77% |
4,710,525
-390,375
| -8% | -$3.81M |
|
16
LSB Industries
LXU
$822M
| $37.1M | 1.45% |
1,157,000
-292,500
| -20% | -$8.71M |
|
17
Quantum Corp
QMCO
$917M
| $31.3M | 1.23% |
160,594
| – | – |
|
|
MCRL
18
DELISTED
MICREL INC
MCRL
| $25.4M | 1% |
+2,250,000
| New | +$24.3M |
|
19
Great Elm Group
GEG
$65.1M
| $23.9M | 0.94% |
892,024
+104,167
| +13% | +$2.68M |
|
|
DSPG
20
DELISTED
DSP Group Inc
DSPG
| $13.9M | 0.55% |
1,640,000
| – | – |
|
|
NFX
21
DELISTED
Newfield Exploration
NFX
| $9.95M | 0.39% |
+225,000
| New | +$8.07M |
|
|
ENTR
22
DELISTED
ENTROPIC COMMUNICATIONS INC COM STK (DE)
ENTR
| $9.16M | 0.36% |
2,750,000
-200,000
| -7% | -$703K |
|
|
AVP
23
DELISTED
Avon Products, Inc.
AVP
| $8.77M | 0.34% |
+600,000
| New | +$8.65M |
|
|
PLCM
24
DELISTED
POLYCOM INC
PLCM
| $6.26M | 0.25% |
500,000
-1,750,000
| -78% | -$22.2M |
|
|
XOXO
25
DELISTED
Xo Group Inc
XOXO
| $6.23M | 0.24% |
+510,000
| New | +$5.68M |
|
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Starboard Value's Q2 2014 Portfolio in Review
As of Q2 2014, Starboard Value held 31 positions worth $2.55B, up 40% from $1.83B the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Starboard Value deployed $411M of net new capital in Q2 2014, opening 7 new positions and adding to 6 existing holdings. Its largest new stake was MEADWESTVACO CORP: 9,350,000 shares worth $414M.
By sector, the portfolio is most concentrated in Miscellaneous at 30% of assets, down from 31% a quarter earlier, followed by Consumer Discretionary and Materials.
On the sell side, the largest reduction was Calgon Carbon Corp, an estimated $23.4M trimmed.
- Starboard Value's largest Q2 2014 buy was MEADWESTVACO CORP: 9,350,000 shares worth $414M.
- Starboard Value added most to BWX Technologies in Q2 2014, an estimated $55.6M increase.
- Starboard Value's biggest Q2 2014 reduction was Calgon Carbon Corp, cutting an estimated $23.4M.
- Starboard Value fully exited The Aaron's Company Inc Class A in Q2 2014, selling an estimated $69.6M.
- Starboard Value's ten largest holdings make up 80% of its $2.55B portfolio in Q2 2014.
- Starboard Value opened 7 new positions and closed 2 in Q2 2014.
- Starboard Value's portfolio value rose 40% quarter-over-quarter to $2.55B.
Based on Starboard Value's 13F filing for Q2 2014, filed 14 Aug 2014.