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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
-11.43%
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
$5.5B
AUM Growth
-$2.04B
Cap. Flow
-$1B
Cap. Flow %
-18.22%
Top 10 Hldgs %
65.45%
Holding
197
New
27
Increased
8
Reduced
13
Closed
14

Top Buys

Rank Stock Value
1
GEN icon
Gen Digital
GEN
+$61.5M
2
WTW icon
Willis Towers Watson
WTW
+$22.4M
3
MRCY icon
Mercury Systems
MRCY
+$21.4M
4
LPSN icon
LivePerson
LPSN
+$11.3M
5
GDDY icon
GoDaddy
GDDY
+$9.61M

Top Sells

Rank Stock Value
1
CTVA icon
Corteva
CTVA
+$289M
2
HUN icon
Huntsman Corp
HUN
+$277M
3
CERN
Cerner Corp
CERN
+$211M
4
IWM icon
iShares Russell 2000 ETF
IWM
+$184M
5
KSS icon
Kohl's
KSS
+$137M

Sector Composition

Rank Sector Weight
1 Technology 32.68%
2 Financials 18.93%
3 Healthcare 14.95%
4 Industrials 13.46%
5 Materials 5.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GDDY icon
1
GoDaddy
GDDY
$13.9B
$583M 10.59%
8,376,808
+126,388
+2% +$9.61M
ACM icon
2
Aecom
ACM
$9.46B
$458M 8.33%
7,024,945
-71,684
-1% -$5.01M
HUM icon
3
Humana
HUM
$43.9B
$449M 8.17%
960,000
-8,200
-0.8% -$3.65M
WTW icon
4
Willis Towers Watson
WTW
$29.8B
$443M 8.05%
2,245,511
+104,643
+5% +$22.4M
GEN icon
5
Gen Digital
GEN
$16.5B
$422M 7.66%
19,204,454
+2,500,000
+15% +$61.5M
ON icon
6
ON Semiconductor
ON
$30.7B
$283M 5.14%
5,617,681
-1,000,000
-15% -$55.7M
MRCY icon
7
Mercury Systems
MRCY
$5.41B
$254M 4.61%
3,943,060
+359,311
+10% +$21.4M
CVLT icon
8
Commault Systems
CVLT
$4.98B
$239M 4.35%
3,802,375
-34,150
-0.9% -$2.12M
HUN icon
9
Huntsman Corp
HUN
$2.1B
$236M 4.28%
8,309,696
-8,208,122
-50% -$277M
CYXT
10
DELISTED
Cyxtera Technologies, Inc. Class A Common Stock
CYXT
$236M 4.28%
20,767,571
– –
PZZA icon
11
Papa John's
PZZA
$1.01B
$230M 4.19%
2,759,360
– –
GCP
12
DELISTED
GCP Applied Technologies Inc.
GCP
$205M 3.72%
6,540,000
– –
ACIW icon
13
ACI Worldwide
ACIW
$6.12B
$135M 2.45%
5,201,153
-1,041,128
-17% -$28M
GDOT icon
14
Green Dot
GDOT
$750M
$133M 2.42%
5,294,110
– –
MD icon
15
Pediatrix Medical
MD
$2.2B
$124M 2.26%
5,915,000
– –
ELAN icon
16
Elanco Animal Health
ELAN
$13.2B
$113M 2.04%
5,731,575
-1,168,980
-17% -$27.7M
LPSN icon
17
LivePerson
LPSN
$22M
$99.1M 1.8%
467,000
+40,000
+9% +$11.3M
CTVA icon
18
Corteva
CTVA
$60.5B
$55.1M 1%
1,017,794
-4,978,535
-83% -$289M
IWM icon
19
iShares Russell 2000 ETF
IWM
$79.1B
$53.2M 0.97%
314,380
-1,000,000
-76% -$184M
ENOV icon
20
Enovis
ENOV
$1.74B
$50M 0.91%
908,748
-1,478,189
-62% -$95.3M
MMSI icon
21
Merit Medical Systems
MMSI
$4.82B
$31.5M 0.57%
579,658
-287,980
-33% -$17.6M
EHTH icon
22
eHealth
EHTH
$41.9M
$20.5M 0.37%
2,198,117
-45,000
-2% -$458K
KSS icon
23
Kohl's
KSS
$2.16B
$19.1M 0.35%
535,029
-2,796,116
-84% -$137M
IRRX
24
DELISTED
Integrated Rail and Resources Acquisition Corp.
IRRX
$9.35M 0.17%
937,845
– –
HCMA
25
DELISTED
HCM Acquisition Corp Class A Ordinary Shares
HCMA
$7.53M 0.14%
750,000
– –
1
2 3 4 5

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SCM
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AG
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ANTB
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DWM
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LPPI
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DK
DJE Kapital 82049 Pullach, Germany $4.51B AUM 49.55% 1-Year Est. Return

Starboard Value's Q2 2022 Portfolio in Review

As of Q2 2022, Starboard Value held 197 positions worth $5.5B, down 27% from $7.54B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Starboard Value withdrew a net $1B in Q2 2022, closing 14 positions and reducing 13 holdings. Its most notable exit was Cerner Corp, an estimated $211M position sold in full.

By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 29% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Starboard Value opened a new position in Investcorp India Acquisition Corp worth $7.46M.

  • Starboard Value's largest Q2 2022 buy was Investcorp India Acquisition Corp: 750,000 shares worth $7.46M.
  • Starboard Value added most to Gen Digital in Q2 2022, an estimated $61.5M increase.
  • Starboard Value's biggest Q2 2022 reduction was Corteva, cutting an estimated $289M.
  • Starboard Value fully exited Cerner Corp in Q2 2022, selling an estimated $211M.
  • Starboard Value's ten largest holdings make up 65% of its $5.5B portfolio in Q2 2022.
  • Starboard Value opened 27 new positions and closed 14 in Q2 2022.
  • Starboard Value's portfolio value fell 27% quarter-over-quarter to $5.5B.

Based on Starboard Value's 13F filing for Q2 2022, filed 12 Aug 2022.