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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
+20.47%
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
$4.81B
AUM Growth
+$905M
Cap. Flow
+$1.07B
Cap. Flow %
22.17%
Top 10 Hldgs %
81.26%
Holding
31
New
5
Increased
5
Reduced
7
Closed
3

Top Buys

Rank Stock Value
1
FTRE icon
Fortrea Holdings
FTRE
+$232M
2
NWS icon
News Corp Class B
NWS
+$198M
3
HUM icon
Humana
HUM
+$75.5M
4
NWSA icon
News Corp Class A
NWSA
+$36.9M
5
IWN icon
iShares Russell 2000 Value ETF
IWN
+$35.3M

Top Sells

Rank Stock Value
1
GDDY icon
GoDaddy
GDDY
+$219M
2
ACM icon
Aecom
ACM
+$91.7M
3
VRT icon
Vertiv
VRT
+$64.3M
4
CRM icon
Salesforce
CRM
+$43.9M
5
WIX icon
WIX.com
WIX
+$36M

Sector Composition

Rank Sector Weight
1 Technology 43.63%
2 Healthcare 14.98%
3 Industrials 13.05%
4 Utilities 8.15%
5 Communication Services 5.54%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GDDY icon
1
GoDaddy
GDDY
$13.7B
$798M 16.59%
7,512,771
-2,449,516
-25% -$219M
HUM icon
2
Humana
HUM
$43.8B
$455M 9.47%
994,146
+153,146
+18% +$75.5M
GEN icon
3
Gen Digital
GEN
$16.7B
$425M 8.83%
18,608,904
– –
WIX icon
4
WIX.com
WIX
$2.5B
$411M 8.55%
3,343,000
-373,000
-10% -$36M
CRM icon
5
Salesforce
CRM
$153B
$404M 8.41%
1,536,453
-193,998
-11% -$43.9M
AQN icon
6
Algonquin Power & Utilities
AQN
$4.67B
$392M 8.15%
61,991,000
+3,591,000
+6% +$21M
IWN icon
7
iShares Russell 2000 Value ETF
IWN
$14.4B
$280M 5.83%
1,805,000
+255,000
+16% +$35.3M
FTRE icon
8
Fortrea Holdings
FTRE
$1.98B
$265M 5.51%
+7,595,000
New +$232M
ACTG icon
9
Acacia Research
ACTG
$441M
$240M 4.98%
61,123,595
– –
BLMN icon
10
Bloomin' Brands
BLMN
$745M
$238M 4.94%
8,441,000
+100,000
+1% +$2.43M
NWS icon
11
News Corp Class B
NWS
$17.6B
$225M 4.67%
+8,732,000
New +$198M
ACM icon
12
Aecom
ACM
$9.37B
$167M 3.48%
1,809,000
-1,080,000
-37% -$91.7M
VRT icon
13
Vertiv
VRT
$90.3B
$125M 2.61%
2,609,588
-1,511,011
-37% -$64.3M
MRCY icon
14
Mercury Systems
MRCY
$5.5B
$78.4M 1.63%
2,145,000
-163,800
-7% -$5.91M
ROG icon
15
Rogers Corp
ROG
$2.17B
$60M 1.25%
454,000
-91,519
-17% -$11.7M
GDOT icon
16
Green Dot
GDOT
$756M
$52.4M 1.09%
5,294,110
– –
IWR icon
17
iShares Russell Mid-Cap ETF
IWR
$56.2B
$44.7M 0.93%
575,000
+150,000
+35% +$10.7M
NWSA icon
18
News Corp Class A
NWSA
$15.6B
$41.7M 0.87%
+1,700,000
New +$36.9M
RBA icon
19
RB Global
RBA
$21.5B
$16.8M 0.35%
251,163
– –
IWM icon
20
PUT
iShares Russell 2000 ETF
IWM
$79.5B
$11M 0.23%
+4,900,000
New +$878M
SVII
21
DELISTED
Spring Valley Acquisition Corp II
SVII
$9.19M 0.19%
850,000
– –
ALCY
22
DELISTED
Alchemy Investments Acquisition Corp 1
ALCY
$3.65M 0.08%
350,000
– –
KVAC icon
23
Keen Vision Acquisition Corp
KVAC
$69.7M
$3.1M 0.06%
300,000
– –
VRT icon
24
PUT
Vertiv
VRT
$90.3B
$348K 0.01%
+2,609,300
New +$111M
ISRL
25
DELISTED
Israel Acquisitions Corp
ISRL
– –
-500,000
Closed -$5.28M
1
2

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LPPI
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Starboard Value's Q4 2023 Portfolio in Review

As of Q4 2023, Starboard Value held 31 positions worth $4.81B, up 23% from $3.9B the previous quarter. Its ten largest holdings account for 81% of the portfolio.

Starboard Value deployed $1.07B of net new capital in Q4 2023, opening 5 new positions and adding to 5 existing holdings. Its largest new stake was Fortrea Holdings: 7,595,000 shares worth $265M.

By sector, the portfolio is most concentrated in Technology at 44% of assets, down from 47% a quarter earlier, followed by Healthcare and Industrials.

On the sell side, the largest reduction was GoDaddy, an estimated $219M trimmed.

  • Starboard Value's largest Q4 2023 buy was Fortrea Holdings: 7,595,000 shares worth $265M.
  • Starboard Value added most to Humana in Q4 2023, an estimated $75.5M increase.
  • Starboard Value's biggest Q4 2023 reduction was GoDaddy, cutting an estimated $219M.
  • Starboard Value fully exited Israel Acquisitions Corp in Q4 2023, selling an estimated $5.28M.
  • Starboard Value's ten largest holdings make up 81% of its $4.81B portfolio in Q4 2023.
  • Starboard Value opened 5 new positions and closed 3 in Q4 2023.
  • Starboard Value's portfolio value rose 23% quarter-over-quarter to $4.81B.

Based on Starboard Value's 13F filing for Q4 2023, filed 14 Feb 2024.