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SV

Starboard Value Portfolio holdings

AUM $4.57B
1-Year Est. Return 4.97%
This Fund
S&P 500
This Quarter Est. Return
+7.52%
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
$4.99B
AUM Growth
-$231M
Cap. Flow
-$321M
Cap. Flow %
-6.44%
Top 10 Hldgs %
79.12%
Holding
155
New
5
Increased
4
Reduced
9
Closed
49

Top Buys

Rank Stock Value
1
SPLK
Splunk Inc
SPLK
+$260M
2
ROG icon
Rogers Corp
ROG
+$148M
3
ACTG icon
Acacia Research
ACTG
+$63.4M
4
RBA icon
RB Global
RBA
+$14.8M
5
HUM icon
Humana
HUM
+$12.4M

Top Sells

Rank Stock Value
1
PZZA icon
Papa John's
PZZA
+$184M
2
ACM icon
Aecom
ACM
+$137M
3
IWM icon
iShares Russell 2000 ETF
IWM
+$95.6M
4
CRM icon
Salesforce
CRM
+$83.6M
5
MD icon
Pediatrix Medical
MD
+$81.3M

Sector Composition

Rank Sector Weight
1 Technology 51.1%
2 Industrials 19.89%
3 Financials 15.49%
4 Healthcare 8.51%
5 Consumer Discretionary 1.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GDDY icon
1
GoDaddy
GDDY
$13.9B
$782M 15.67%
10,059,453
-173,602
-2% -$13.4M
CRM icon
2
Salesforce
CRM
$154B
$506M 10.14%
2,530,983
-494,999
-16% -$83.6M
ACM icon
3
Aecom
ACM
$9.4B
$454M 9.1%
5,386,000
-1,588,316
-23% -$137M
SPLK
4
DELISTED
Splunk Inc
SPLK
$439M 8.81%
4,583,000
+2,716,120
+145% +$260M
WTW icon
5
Willis Towers Watson
WTW
$29.9B
$423M 8.48%
1,819,397
-106,094
-6% -$25.6M
HUM icon
6
Humana
HUM
$43.2B
$388M 7.79%
800,000
+25,000
+3% +$12.4M
GEN icon
7
Gen Digital
GEN
$16.7B
$325M 6.51%
18,914,794
– –
VRT icon
8
Vertiv
VRT
$87.5B
$241M 4.82%
16,818,581
-83,320
-0.5% -$1.22M
WIX icon
9
WIX.com
WIX
$2.57B
$197M 3.95%
1,972,076
-350,000
-15% -$30.8M
MRCY icon
10
Mercury Systems
MRCY
$5.63B
$193M 3.87%
3,772,291
– –
ROG icon
11
Rogers Corp
ROG
$2.09B
$168M 3.37%
+1,028,200
New +$148M
IWN icon
12
iShares Russell 2000 Value ETF
IWN
$14.4B
$123M 2.47%
900,000
– –
GDOT icon
13
Green Dot
GDOT
$754M
$91M 1.82%
5,294,110
– –
CVLT icon
14
Commault Systems
CVLT
$5.04B
$90.1M 1.81%
1,588,554
+42,554
+3% +$2.53M
ACTG icon
15
Acacia Research
ACTG
$436M
$77.2M 1.55%
20,000,000
+15,000,000
+300% +$63.4M
PZZA icon
16
Papa John's
PZZA
$999M
$43.6M 0.87%
582,432
-2,176,928
-79% -$184M
ENOV icon
17
Enovis
ENOV
$1.74B
$18.9M 0.38%
353,165
– –
ON icon
18
ON Semiconductor
ON
$32B
$16.5M 0.33%
200,000
-750,000
-79% -$57M
RBA icon
19
RB Global
RBA
$21.7B
$14.1M 0.28%
+251,163
New +$14.8M
IWR icon
20
iShares Russell Mid-Cap ETF
IWR
$56.3B
$10.5M 0.21%
150,000
– –
LPSN icon
21
LivePerson
LPSN
$22.4M
$10.4M 0.21%
157,333
-309,667
-66% -$49.6M
SVII
22
DELISTED
Spring Valley Acquisition Corp II
SVII
$8.79M 0.18%
850,000
– –
TGR
23
DELISTED
Kimbell Tiger Acquisition Corporation
TGR
$7.9M 0.16%
750,000
– –
IVCA
24
DELISTED
Investcorp India Acquisition Corp
IVCA
$7.89M 0.16%
750,000
– –
HCMA
25
DELISTED
HCM Acquisition Corp Class A Ordinary Shares
HCMA
$7.83M 0.16%
750,000
– –
1
2 3 4 5

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ANTB
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LPPI
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Starboard Value's Q1 2023 Portfolio in Review

As of Q1 2023, Starboard Value held 155 positions worth $4.99B, down 4.4% from $5.22B the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Starboard Value withdrew a net $321M in Q1 2023, closing 49 positions and reducing 9 holdings. Its most notable exit was iShares Russell 2000 ETF, an estimated $95.6M position sold in full.

By sector, the portfolio is most concentrated in Technology at 51% of assets, up from 42% a quarter earlier, followed by Industrials and Financials.

Against the trend, Starboard Value opened a new position in Rogers Corp worth $168M.

  • Starboard Value's largest Q1 2023 buy was Rogers Corp: 1,028,200 shares worth $168M.
  • Starboard Value added most to Splunk Inc in Q1 2023, an estimated $260M increase.
  • Starboard Value's biggest Q1 2023 reduction was Papa John's, cutting an estimated $184M.
  • Starboard Value fully exited iShares Russell 2000 ETF in Q1 2023, selling an estimated $95.6M.
  • Starboard Value's ten largest holdings make up 79% of its $4.99B portfolio in Q1 2023.
  • Starboard Value opened 5 new positions and closed 49 in Q1 2023.
  • Starboard Value's portfolio value fell 4.4% quarter-over-quarter to $4.99B.

Based on Starboard Value's 13F filing for Q1 2023, filed 12 May 2023.