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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
+7.54%
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
$4.63B
AUM Growth
-$360M
Cap. Flow
-$555M
Cap. Flow %
-11.98%
Top 10 Hldgs %
81.59%
Holding
110
New
3
Increased
2
Reduced
10
Closed
62

Top Buys

Rank Stock Value
1
AQN icon
Algonquin Power & Utilities
AQN
+$290M
2
WIX icon
WIX.com
WIX
+$149M
3
ABCM
Abcam PLC
ABCM
+$79.3M
4
HUM icon
Humana
HUM
+$42.8M
5
ALCY
Alchemy Investments Acquisition Corp 1
ALCY
+$3.59M

Top Sells

Rank Stock Value
1
WTW icon
Willis Towers Watson
WTW
+$302M
2
ACM icon
Aecom
ACM
+$132M
3
CRM icon
Salesforce
CRM
+$107M
4
CVLT icon
Commault Systems
CVLT
+$95.3M
5
SPLK
Splunk Inc
SPLK
+$48.9M

Sector Composition

Rank Sector Weight
1 Technology 52.19%
2 Industrials 19.69%
3 Healthcare 11.05%
4 Financials 6.57%
5 Utilities 6.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GDDY icon
1
GoDaddy
GDDY
$11B
$754M 16.3%
10,040,437
-19,016
-0.2% -$1.4M
SPLK
2
DELISTED
Splunk Inc
SPLK
$432M 9.32%
4,068,000
-515,000
-11% -$48.9M
CRM icon
3
Salesforce
CRM
$151B
$424M 9.16%
2,008,076
-522,907
-21% -$107M
HUM icon
4
Humana
HUM
$43.7B
$396M 8.55%
885,000
+85,000
+11% +$42.8M
VRT icon
5
Vertiv
VRT
$93B
$395M 8.53%
15,944,889
-873,692
-5% -$15M
GEN icon
6
Gen Digital
GEN
$16.4B
$351M 7.58%
18,914,794
– –
ACM icon
7
Aecom
ACM
$9.3B
$320M 6.92%
3,781,000
-1,605,000
-30% -$132M
WIX icon
8
WIX.com
WIX
$2.3B
$296M 6.4%
3,785,000
+1,812,924
+92% +$149M
AQN icon
9
Algonquin Power & Utilities
AQN
$4.49B
$282M 6.09%
+34,138,650
New +$290M
IWN icon
10
iShares Russell 2000 Value ETF
IWN
$14.3B
$127M 2.74%
900,000
– –
ROG icon
11
Rogers Corp
ROG
$2.21B
$125M 2.71%
774,000
-254,200
-25% -$40.3M
WTW icon
12
Willis Towers Watson
WTW
$31.2B
$120M 2.59%
508,880
-1,310,517
-72% -$302M
ABCM
13
DELISTED
Abcam PLC
ABCM
$112M 2.43%
+4,593,000
New +$79.3M
GDOT icon
14
Green Dot
GDOT
$743M
$99.2M 2.14%
5,294,110
– –
MRCY icon
15
Mercury Systems
MRCY
$5.83B
$98.1M 2.12%
2,836,000
-936,291
-25% -$40M
ACTG icon
16
Acacia Research
ACTG
$428M
$83.2M 1.8%
20,000,000
– –
RBA icon
17
RB Global
RBA
$20.4B
$15.1M 0.33%
251,163
– –
PZZA icon
18
Papa John's
PZZA
$984M
$13.4M 0.29%
182,000
-400,432
-69% -$29.7M
IWR icon
19
iShares Russell Mid-Cap ETF
IWR
$56B
$11M 0.24%
150,000
– –
LPSN icon
20
LivePerson
LPSN
$21.8M
$10.7M 0.23%
157,333
– –
SVII
21
DELISTED
Spring Valley Acquisition Corp II
SVII
$8.97M 0.19%
850,000
– –
CVLT icon
22
Commault Systems
CVLT
$4.88B
$8.86M 0.19%
122,000
-1,466,554
-92% -$95.3M
IVCA
23
DELISTED
Investcorp India Acquisition Corp
IVCA
$8.03M 0.17%
750,000
– –
KNSW
24
DELISTED
KnightSwan Acquisition Corporation
KNSW
$7.93M 0.17%
750,000
– –
ASCB
25
DELISTED
A SPAC II Acquisition Corp. Ordinary Shares
ASCB
$7.91M 0.17%
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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DK
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VCM
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Starboard Value's Q2 2023 Portfolio in Review

As of Q2 2023, Starboard Value held 110 positions worth $4.63B, down 7.2% from $4.99B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Starboard Value withdrew a net $555M in Q2 2023, closing 62 positions and reducing 10 holdings. Its most notable exit was Enovis, an estimated $18.9M position sold in full.

By sector, the portfolio is most concentrated in Technology at 52% of assets, up from 51% a quarter earlier, followed by Industrials and Healthcare.

Against the trend, Starboard Value opened a new position in Algonquin Power & Utilities worth $282M.

  • Starboard Value's largest Q2 2023 buy was Algonquin Power & Utilities: 34,138,650 shares worth $282M.
  • Starboard Value added most to WIX.com in Q2 2023, an estimated $149M increase.
  • Starboard Value's biggest Q2 2023 reduction was Willis Towers Watson, cutting an estimated $302M.
  • Starboard Value fully exited Enovis in Q2 2023, selling an estimated $18.9M.
  • Starboard Value's ten largest holdings make up 82% of its $4.63B portfolio in Q2 2023.
  • Starboard Value opened 3 new positions and closed 62 in Q2 2023.
  • Starboard Value's portfolio value fell 7.2% quarter-over-quarter to $4.63B.

Based on Starboard Value's 13F filing for Q2 2023, filed 11 Aug 2023.