WhaleCreep

Starboard Value LP 13F holdings, Q3 2015

Hedge fundSEC filingsCompare with another fundHoldings as of 2015-09-30, filed 2015-11-13

Starboard Value LP disclosed 26 US equity positions worth $2.9bn in its Q3 2015 13F filing. Its largest position is DRI at 27.3% of the reported book, followed by AAP and WRKUSD. Versus Q2 2015 it opened 10 new positions, added to 8, reduced 2 and exited 15.

$2.9bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
26
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
27.3%
Largest position
The largest single position as a share of the reported equity book.
87.3%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
8
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
61
Quarters on file since Q2 2011
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q2 2015: 10 new, 8 added, 2 reduced, 15 exited

26 rows
DRI DARDEN RESTAURANTS INCConsumer Cyclical27.3%$797m11.63m0.0%held
AAP ADVANCE AUTO PARTS INCConsumer Cyclical11.1%$324m1.71m–new
WRKUSD WESTROCK CO–10.8%$316m6.15m–new
ODPEUR OFFICE DEPOT INC–9.8%$287m44.74m+2.7%added
YAHOO INC no ticker–7.0%$205m7.10m+100%added
M Macy's, IncConsumer Cyclical5.7%$167m3.26m+12%added
NSP INSPERITY INCIndustrials5.0%$147m3.34m0.0%held
BCO BRINKS COIndustrials4.2%$124m4.58m+6.5%added
MEDASSETS INC no ticker–3.7%$107m5.33m–new
MEDIA GEN INC NEW no ticker–2.6%$74.9m5.35m–new
CW CURTISS WRIGHT CORPIndustrials2.4%$68.9m1.10m+68%added
WAUSAU PAPER CORP no ticker–1.6%$48.0m7.50m0.0%held
REALD INC no ticker–1.6%$47.6m4.95m0.0%held
GIS GENERAL MILLS INCConsumer Defensive1.5%$43.5m774,500–new
BAX BAXTER INTL INCHealthcare1.4%$41.1m1.25m–new
ACM AECOMIndustrials1.0%$28.9m1.05m+43%added
QUANTUM CORP no ticker–0.9%$25.1m30.55m0.0%held
LXU LSB INDS INCBasic Materials0.8%$24.7m1.61m+6.3%added
QUANTUM CORP no ticker–0.6%$17.9m25.70m0.0%held
TESSERA TECHNOLOGIES INC no ticker–0.4%$10.5m325,000−83%reduced
MSGN MSG NETWORK INC–0.2%$6.8m94,500–new
ALLERGAN PLC no ticker–0.1%$3.2m11,700+80%added
BNY BANK OF NY MELLON CORPFinancial Services0.06%$1.7m43,100–new
AVAGO TECHNOLOGIES LTD no ticker–0.05%$1.4m11,400–new
QCOM QUALCOMM INCTechnology0.02%$537k10,000–new
INTEGRATED SILICON SOLUTION no ticker–0.0%$21.0k1,000−100%reduced

Exited since Q2 2015

15 rows
MEADWESTVACO CORP no ticker13.5%$417m
STAPLES INC no ticker4.0%$125m
MICREL INC no ticker1.7%$51.3m
BABA ALIBABA GROUP HLDG LTD1.6%$50.0m
BWXT BWX TECHNOLOGIES INC1.6%$49.0m
EPC EDGEWELL PERSONAL CARE CO1.5%$45.2m
BOULDER BRANDS INC no ticker0.7%$20.6m
SGI SOMNIGROUP INTERNATIONAL INC0.5%$14.4m
BWEUR BABCOCK & WILCOX ENTERPRIS I0.3%$8.0m
DPLOEUR DIPLOMAT PHARMACY INC0.2%$7.6m
UNWIRED PLANET INC NEW no ticker0.2%$6.3m
THS TREEHOUSE FOODS INC0.1%$4.5m
SYNERGY PHARMACEUTICALS DEL no ticker0.1%$4.4m
HUM HUMANA INC0.1%$3.8m
DSPGEUR DSP GROUPS INC0.08%$2.4m

Sector mix

  • Consumer Cyclical44.1%
  • Unclassified39.4%
  • Industrials12.6%
  • Consumer Defensive1.5%
  • Healthcare1.4%
  • Basic Materials0.8%
  • Financial Services0.06%
  • Technology0.02%

Book over time

Every quarter on file (61)
QuarterPositionsEquity book
Q2 202621$4.5bn
Q1 202623$4.6bn
Q4 202522$5.3bn
Q3 202520$5.3bn
Q2 202524$5.8bn
Q1 202522$5.5bn
Q4 202421$5.5bn
Q3 202418$4.7bn
Q2 202419$4.3bn
Q1 202421$4.8bn
Q4 202325$4.8bn
Q3 202324$3.9bn
Q2 202347$4.6bn
Q1 2023104$5.0bn
Q4 2022147$5.2bn
Q3 2022176$4.5bn
Q2 2022182$5.5bn
Q1 2022169$7.5bn
Q4 2021135$7.2bn
Q3 202158$5.5bn
Q2 202162$5.1bn
Q1 202137$4.7bn
Q4 202018$3.9bn
Q3 202018$3.4bn
Q2 202017$2.8bn
Q1 202016$2.5bn
Q4 201914$3.4bn
Q3 201914$3.0bn
Q2 201918$3.3bn
Q1 201918$4.1bn
Q4 201814$3.2bn
Q3 201814$3.9bn
Q2 201816$4.0bn
Q1 201815$4.5bn
Q4 201718$4.1bn
Q3 201723$3.7bn
Q2 201721$3.4bn
Q1 201720$3.3bn
Q4 201622$3.4bn
Q3 201622$3.2bn
Q2 201620$2.4bn
Q1 201617$2.4bn
Q4 201521$2.6bn
Q3 201526$2.9bn
Q2 201531$3.1bn
Q1 201525$3.2bn
Q4 201427$3.2bn
Q3 201428$2.5bn
Q2 201428$2.1bn
Q1 201423$1.5bn
Q4 201322$1.7bn
Q3 201324$1.2bn
Q2 201324$1.2bn
Q1 201320$937m
Q4 201219$709m
Q3 201217$651m
Q2 201216$554m
Q1 201218$514m
Q4 201120$371m
Q3 201117$230m
Q2 201113$160m

Where Starboard Value LP was early

34 rows
PRGS PROGRESS SOFTWARE CORPQ3 20111 of 875.7%17.3%9Exited by Q4 2013+47%
IWM ISHARES TRQ3 201112 of 2333.5%7.2%22Exited by Q1 2026+283%
IWN ISHARES TRQ4 20113 of 6411.1%15.7%39Exited by Q4 2024+154%
PRSU VIAD CORPQ1 20122 of 890.5%4.1%4Exited by Q1 2013+40%
FOE FERRO CORPQ1 20131 of 623.1%3.1%2Exited by Q3 2013+3.0%
SFD SMITHFIELD FOODS INCQ1 20133 of 901.1%5.0%2Exited by Q3 2013+24%
NVDA NVIDIA CORPQ1 20135 of 3973.3%5.0%4Exited by Q1 2014+25%
CW CURTISS WRIGHT CORPQ3 20132 of 1361.5%4.2%13Exited by Q4 2016+94%
LXU LSB INDS INCQ4 20131 of 892.0%2.7%8Exited by Q4 2015−63%
DRI DARDEN RESTAURANTS INCQ4 20132 of 14123.0%28.4%11Exited by Q3 2016+30%
ENR ENERGIZER HLDGS INCQ3 20143 of 971.9%1.9%2Exited by Q1 2015+4.3%
NSP INSPERITY INCQ4 20142 of 1001.2%7.2%11Exited by Q3 2017+110%
CLH CLEAN HARBORS INCQ4 20143 of 1282.0%2.0%2Exited by Q2 2015+18%
BCO BRINKS COQ1 20153 of 1081.8%6.4%13Exited by Q2 2018+158%
SGI TEMPUR SEALY INTL INCQ1 20159 of 1911.2%1.2%2Exited by Q3 2015+14%
ACM AECOMQ2 20158 of 1430.8%11.4%25Exited by Q3 2024+166%
M MACYS INCQ2 201513 of 1776.4%7.2%7Exited by Q1 2017−47%
BAX BAXTER INTL INCQ3 201513 of 1461.4%4.4%14Exited by Q1 2019+100%
AAP ADVANCE AUTO PARTS INCQ3 201516 of 17911.1%18.9%22Exited by Q1 2021−17%
FCPT FOUR CORNERS PPTY TR INCQ4 20153 of 763.6%3.6%3Exited by Q3 2016−15%
STC STEWART INFORMATION SVCS CORQ3 20165 of 913.2%3.2%6Exited by Q1 2018−4.8%
HPE HEWLETT PACKARD ENTERPRISE CQ3 201619 of 2193.9%5.1%5Exited by Q4 2017+11%
FTNT FORTINET INCQ1 201710 of 1624.9%4.9%4Exited by Q1 2018+14%
MAC MACERICH COQ3 20176 of 1100.7%3.0%4Exited by Q3 2018+3.4%
CARS CARS COM INCQ4 201711 of 1253.2%4.5%7Exited by Q3 2019−32%
RPM RPM INTL INCQ2 20184 of 1090.9%2.0%6Exited by Q4 2019+18%
IWR ISHARES TRQ1 20191 of 351.7%2.3%17Exited by Q3 2024+50%
BOX BOX INCQ3 201913 of 1503.9%6.7%9Exited by Q4 2021+43%
GEN GEN DIGITAL INCQ4 20193 of 14519.7%20.3%26Exited by Q2 2026−26%
CTVA CORTEVA INCQ3 202011 of 16510.0%14.2%8Exited by Q3 2022+88%
ON ON SEMICONDUCTOR CORPQ4 202020 of 2447.5%7.6%10Exited by Q2 2023+152%
ENOV ENOVIS CORPORATIONQ1 20221 of 1032.2%2.2%5Exited by Q2 2023−22%
VRT VERTIV HOLDINGS COQ4 202221 of 2534.4%8.5%5Exited by Q1 2024+252%
FTRE FORTREA HLDGS INCQ4 20239 of 1135.5%5.5%7Exited by Q3 2025−86%

Concentration and tenure

17.7%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
82.9%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
3
Median completed holding, quarters