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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
+3.07%
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
$3B
AUM Growth
-$289M
Cap. Flow
-$580M
Cap. Flow %
-19.35%
Top 10 Hldgs %
94.46%
Holding
21
New
1
Increased
3
Reduced
7
Closed
5

Top Buys

Rank Stock Value
1
GEN icon
Gen Digital
GEN
+$124M
2
BOX icon
Box
BOX
+$112M
3
ACM icon
Aecom
ACM
+$38.8M
4
CERN
Cerner Corp
CERN
+$23M

Top Sells

Rank Stock Value
1
PRGO icon
Perrigo
PRGO
+$303M
2
CARS icon
Cars.com
CARS
+$126M
3
AAP icon
Advance Auto Parts
AAP
+$90.4M
4
DLTR icon
Dollar Tree
DLTR
+$59.7M
5
RPM icon
RPM International
RPM
+$38.2M

Sector Composition

Rank Sector Weight
1 Technology 38.01%
2 Consumer Discretionary 21.52%
3 Healthcare 12.55%
4 Industrials 6.86%
5 Materials 0.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GEN icon
1
Gen Digital
GEN
$16.6B
$1.02B 34.16%
43,326,610
+5,325,814
+14% +$124M
AAP icon
2
Advance Auto Parts
AAP
$3.5B
$426M 14.2%
2,573,397
-601,603
-19% -$90.4M
PRGO icon
3
Perrigo
PRGO
$1.43B
$229M 7.65%
4,100,000
-5,941,425
-59% -$303M
CERN
4
DELISTED
Cerner Corp
CERN
$227M 7.56%
3,325,000
+325,000
+11% +$23M
IWN icon
5
iShares Russell 2000 Value ETF
IWN
$14.4B
$212M 7.07%
1,775,777
– –
ACM icon
6
Aecom
ACM
$9.41B
$206M 6.86%
5,478,191
+1,077,482
+24% +$38.8M
MGLN
7
DELISTED
Magellan Health Services, Inc.
MGLN
$147M 4.91%
2,369,100
– –
EBAY icon
8
eBay
EBAY
$51.5B
$143M 4.77%
3,670,000
-400,000
-10% -$16M
BOX icon
9
Box
BOX
$4.49B
$116M 3.85%
+6,974,896
New +$112M
GCP
10
DELISTED
GCP Applied Technologies Inc.
GCP
$102M 3.42%
5,322,694
– –
MGM icon
11
MGM Resorts International
MGM
$11.7B
$76.2M 2.54%
2,750,000
– –
IWR icon
12
iShares Russell Mid-Cap ETF
IWR
$56.1B
$62.7M 2.09%
1,120,000
-245,000
-18% -$13.7M
RPM icon
13
RPM International
RPM
$13.9B
$22.3M 0.74%
323,665
-576,657
-64% -$38.2M
IWM icon
14
PUT
iShares Russell 2000 ETF
IWM
$79.4B
$4.91M 0.16%
910,000
-1,280,000
-58% -$195M
SCOR icon
15
Comscore
SCOR
$112M
$47K ﹤0.01%
1,240
-11,260
-90% -$650K
IWR icon
16
PUT
iShares Russell Mid-Cap ETF
IWR
$56.1B
$41K ﹤0.01%
125,000
– –
CARS icon
17
Cars.com
CARS
$722M
– –
-6,382,000
Closed -$126M
DLTR icon
18
Dollar Tree
DLTR
$24.7B
– –
-555,574
Closed -$59.7M
OPLN
19
Openlane
OPLN
$4.32B
– –
-84,100
Closed -$2.1M
MRVL icon
20
Marvell Technology
MRVL
$150B
– –
-787,543
Closed -$18.8M
NTUS
21
DELISTED
Natus Medical Inc
NTUS
– –
-563,329
Closed -$14.5M

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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
AMG National Trust Bank Greenwood Village, Colorado $4.61B AUM 19.2% 1-Year Est. Return
DWM
Dakota Wealth Management Palm Beach Gardens, Florida $4.62B AUM 33.09% 1-Year Est. Return
LPPI
Local Pensions Partnership Investment London, United Kingdom $4.63B AUM 13.51% 1-Year Est. Return
DK
DJE Kapital 82049 Pullach, Germany $4.51B AUM 49.55% 1-Year Est. Return

Starboard Value's Q3 2019 Portfolio in Review

As of Q3 2019, Starboard Value held 21 positions worth $3B, down 8.8% from $3.29B the previous quarter. Its ten largest holdings account for 94% of the portfolio.

Starboard Value withdrew a net $580M in Q3 2019, closing 5 positions and reducing 7 holdings. Its most notable exit was Cars.com, an estimated $126M position sold in full.

By sector, the portfolio is most concentrated in Technology at 38% of assets, up from 26% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, Starboard Value opened a new position in Box worth $116M.

  • Starboard Value's largest Q3 2019 buy was Box: 6,974,896 shares worth $116M.
  • Starboard Value added most to Gen Digital in Q3 2019, an estimated $124M increase.
  • Starboard Value's biggest Q3 2019 reduction was Perrigo, cutting an estimated $303M.
  • Starboard Value fully exited Cars.com in Q3 2019, selling an estimated $126M.
  • Starboard Value's ten largest holdings make up 94% of its $3B portfolio in Q3 2019.
  • Starboard Value opened 1 new position and closed 5 in Q3 2019.
  • Starboard Value's portfolio value fell 8.8% quarter-over-quarter to $3B.

Based on Starboard Value's 13F filing for Q3 2019, filed 14 Nov 2019.