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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
+3.45%
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
$3.26B
AUM Growth
-$128M
(-3.8%)
Cap. Flow
-$151M
Cap. Flow
% of AUM
-4.64%
Top 10 Holdings %
Top 10 Hldgs %
89.25%
Holding
27
New
4
Increased
5
Reduced
6
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Fortinet
FTNT
|
+$148M |
| 2 |
iShares Russell 2000 Value ETF
IWN
|
+$46.3M |
| 3 |
Cognizant
CTSH
|
+$31.6M |
| 4 |
Hewlett Packard
HPE
|
+$26.7M |
| 5 |
ABCO
Advisory Board Co
ABCO
|
+$17.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Macy's
M
|
+$108M |
| 2 |
COL
Rockwell Collins
COL
|
+$102M |
| 3 |
Brink's
BCO
|
+$75.5M |
| 4 |
WRK
WestRock Company
WRK
|
+$35.5M |
| 5 |
Viavi Solutions
VIAV
|
+$28.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 28.41% |
| 2 | Healthcare | 25.25% |
| 3 | Energy | 17.48% |
| 4 | Consumer Discretionary | 13.46% |
| 5 | Industrials | 6.75% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Perrigo
PRGO
$1.88B
| $640M | 19.61% |
9,641,425
+135,000
| +1% | +$10.3M |
|
|
YHOO
2
DELISTED
Yahoo Inc
YHOO
| $571M | 17.48% |
12,298,627
| – | – |
|
3
Marvell Technology
MRVL
$199B
| $515M | 15.76% |
33,720,786
| – | – |
|
4
Advance Auto Parts
AAP
$2.62B
| $419M | 12.83% |
2,825,000
| – | – |
|
|
5
Brink's
BCO
$4.48B
| $162M | 4.96% |
3,028,930
-1,550,000
| -34% | -$75.5M |
|
|
6
Fortinet
FTNT
$126B
| $160M | 4.9% |
+20,867,120
| New | +$148M |
|
|
7
Hewlett Packard
HPE
$74.2B
| $126M | 3.85% |
9,132,050
+1,987,770
| +28% | +$26.7M |
|
|
8
Cognizant
CTSH
$28.5B
| $121M | 3.69% |
2,025,000
+550,000
| +37% | +$31.6M |
|
9
Stewart Information Services
STC
$2.01B
| $102M | 3.13% |
2,315,000
| – | – |
|
10
Baxter International
BAX
$12.3B
| $99.1M | 3.03% |
1,910,000
-541,150
| -22% | -$26.6M |
|
|
TRCO
11
DELISTED
TRIBUNE MEDIA COMPANY CLASS A
TRCO
| $74.1M | 2.27% |
1,989,314
-13,000
| -0.6% | -$440K |
|
|
ASRT
12
DELISTED
Assertio
ASRT
| $66.5M | 2.04% |
88,255
+417
| +0.5% | +$423K |
|
13
Insperity
NSP
$1.97B
| $58.5M | 1.79% |
1,320,000
-200,000
| -13% | -$7.95M |
|
|
14
iShares Russell 2000 Value ETF
IWN
$14.2B
| $52.1M | 1.6% |
441,000
+390,000
| +765% | +$46.3M |
|
|
ABCO
15
DELISTED
Advisory Board Co
ABCO
| $18.7M | 0.57% |
+400,000
| New | +$17.7M |
|
16
Colgate-Palmolive
CL
$69.4B
| $12.3M | 0.38% |
+168,595
| New | +$11.8M |
|
|
MYCC
17
DELISTED
ClubCorp Holdings, Inc.
MYCC
| $10.8M | 0.33% |
+670,235
| New | +$11M |
|
|
PNK
18
DELISTED
Pinnacle Entertainment Inc.
PNK
| $9.76M | 0.3% |
500,000
-1,002,000
| -67% | -$16.5M |
|
19
PUT
iShares Russell 2000 ETF
IWM
$76.9B
| $7.54M | 0.23% |
4,464,500
-2,020,000
| -31% | -$276M |
|
20
Quantum Corp
QMCO
$917M
| $6.54M | 0.2% |
46,994
| – | – |
|
|
21
Macy's
M
$5.77B
| – | – |
-3,010,200
| Closed | -$108M |
|
22
Take-Two Interactive
TTWO
$39.6B
| – | – |
-145,000
| Closed | -$7.15M |
|
|
23
Viavi Solutions
VIAV
$8.33B
| – | – |
-3,500,000
| Closed | -$28.6M |
|
|
WRK
24
DELISTED
WestRock Company
WRK
| – | – |
-700,000
| Closed | -$35.5M |
|
|
CSOD
25
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| – | – |
-300,000
| Closed | -$12.7M |
|
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Starboard Value's Q1 2017 Portfolio in Review
As of Q1 2017, Starboard Value held 27 positions worth $3.26B, down 3.8% from $3.39B the previous quarter. Its ten largest holdings account for 89% of the portfolio.
Starboard Value withdrew a net $151M in Q1 2017, closing 6 positions and reducing 6 holdings. Its most notable exit was Macy's, an estimated $108M position sold in full.
By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 20% a quarter earlier, followed by Healthcare and Energy.
Against the trend, Starboard Value opened a new position in Fortinet worth $160M.
- Starboard Value's largest Q1 2017 buy was Fortinet: 20,867,120 shares worth $160M.
- Starboard Value added most to iShares Russell 2000 Value ETF in Q1 2017, an estimated $46.3M increase.
- Starboard Value's biggest Q1 2017 reduction was Brink's, cutting an estimated $75.5M.
- Starboard Value fully exited Macy's in Q1 2017, selling an estimated $108M.
- Starboard Value's ten largest holdings make up 89% of its $3.26B portfolio in Q1 2017.
- Starboard Value opened 4 new positions and closed 6 in Q1 2017.
- Starboard Value's portfolio value fell 3.8% quarter-over-quarter to $3.26B.
Based on Starboard Value's 13F filing for Q1 2017, filed 12 May 2017.