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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
-23.05%
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
$2.47B
AUM Growth
-$988M
(-29%)
Cap. Flow
-$117M
Cap. Flow
% of AUM
-4.74%
Top 10 Holdings %
Top 10 Hldgs %
85.91%
Holding
21
New
5
Increased
5
Reduced
1
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Commault Systems
CVLT
|
+$199M |
| 2 |
Merit Medical Systems
MMSI
|
+$172M |
| 3 |
Green Dot
GDOT
|
+$143M |
| 4 |
Pediatrix Medical
MD
|
+$82.7M |
| 5 |
Box
BOX
|
+$65.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$822M |
| 2 |
iShares Russell Mid-Cap ETF
IWR
|
+$56.7M |
| 3 |
MGM Resorts International
MGM
|
+$9.98M |
| 4 |
CERN
Cerner Corp
CERN
|
+$3.56M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 36.21% |
| 2 | Healthcare | 23.35% |
| 3 | Consumer Discretionary | 19.39% |
| 4 | Industrials | 7.75% |
| 5 | Financials | 5.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Gen Digital
GEN
$18.7B
| $499M | 20.23% |
26,668,091
| – | – |
|
2
Advance Auto Parts
AAP
$2.62B
| $240M | 9.74% |
2,573,397
| – | – |
|
3
eBay
EBAY
$48.1B
| $238M | 9.65% |
7,920,000
+470,000
| +6% | +$16.4M |
|
|
CERN
4
DELISTED
Cerner Corp
CERN
| $219M | 8.87% |
3,475,000
-50,000
| -1% | -$3.56M |
|
|
5
Commault Systems
CVLT
$5.94B
| $187M | 7.58% |
+4,616,000
| New | +$199M |
|
6
Aecom
ACM
$8.26B
| $178M | 7.23% |
5,975,266
| – | – |
|
|
7
Box
BOX
$4.77B
| $164M | 6.65% |
11,674,546
+4,399,650
| +60% | +$65.5M |
|
|
8
Merit Medical Systems
MMSI
$5.15B
| $151M | 6.13% |
+4,841,860
| New | +$172M |
|
|
9
Green Dot
GDOT
$752M
| $126M | 5.11% |
+4,960,000
| New | +$143M |
|
|
GCP
10
DELISTED
GCP Applied Technologies Inc.
GCP
| $116M | 4.72% |
6,540,000
+1,217,306
| +23% | +$25.8M |
|
|
MGLN
11
DELISTED
Magellan Health Services, Inc.
MGLN
| $114M | 4.62% |
2,369,100
| – | – |
|
|
12
Pediatrix Medical
MD
$2.17B
| $91.8M | 3.72% |
7,890,000
+4,010,000
| +103% | +$82.7M |
|
13
iShares Russell 2000 Value ETF
IWN
$14.2B
| $80M | 3.25% |
975,777
| – | – |
|
14
ACI Worldwide
ACIW
$5.18B
| $34.8M | 1.41% |
+1,443,000
| New | +$46.1M |
|
15
Resideo Technologies
REZI
$2.84B
| $12.7M | 0.51% |
+2,619,000
| New | +$24.7M |
|
16
Comscore
SCOR
$78.7M
| $8.41M | 0.34% |
149,119
| – | – |
|
17
PUT
iShares Russell 2000 ETF
IWM
$76.9B
| $5.17M | 0.21% |
3,500,000
+1,100,000
| +46% | +$164M |
|
|
18
PUT
iShares Russell Mid-Cap ETF
IWR
$55.4B
| $613K | 0.02% |
125,000
| – | – |
|
|
19
iShares Russell Mid-Cap ETF
IWR
$55.4B
| – | – |
-1,030,000
| Closed | -$56.7M |
|
|
20
MGM Resorts International
MGM
$9.87B
| – | – |
-300,000
| Closed | -$9.98M |
|
|
21
State Street SPDR S&P 500 ETF Trust
SPY
$799B
| – | – |
-2,555,000
| Closed | -$822M |
|
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Starboard Value's Q1 2020 Portfolio in Review
As of Q1 2020, Starboard Value held 21 positions worth $2.47B, down 29% from $3.45B the previous quarter. Its ten largest holdings account for 86% of the portfolio.
Starboard Value withdrew a net $117M in Q1 2020, closing 3 positions and reducing 1 holding. Its most notable exit was State Street SPDR S&P 500 ETF Trust, an estimated $822M position sold in full.
By sector, the portfolio is most concentrated in Technology at 36% of assets, up from 24% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Starboard Value opened a new position in Commault Systems worth $187M.
- Starboard Value's largest Q1 2020 buy was Commault Systems: 4,616,000 shares worth $187M.
- Starboard Value added most to Pediatrix Medical in Q1 2020, an estimated $82.7M increase.
- Starboard Value's biggest Q1 2020 reduction was Cerner Corp, cutting an estimated $3.56M.
- Starboard Value fully exited State Street SPDR S&P 500 ETF Trust in Q1 2020, selling an estimated $822M.
- Starboard Value's ten largest holdings make up 86% of its $2.47B portfolio in Q1 2020.
- Starboard Value opened 5 new positions and closed 3 in Q1 2020.
- Starboard Value's portfolio value fell 29% quarter-over-quarter to $2.47B.
Based on Starboard Value's 13F filing for Q1 2020, filed 15 May 2020.