WhaleCreep

Starboard Value LP 13F holdings, Q3 2021

Hedge fundSEC filingsCompare with another fundHoldings as of 2021-09-30, filed 2021-11-12

Starboard Value LP disclosed 58 US equity positions worth $5.5bn in its Q3 2021 13F filing. Its largest position is ACM at 8.5% of the reported book, followed by GEN and CTVA. Versus Q2 2021 it opened 20 new positions, added to 12, reduced 9 and exited 24.

$5.5bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
58
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
8.5%
Largest position
The largest single position as a share of the reported equity book.
65.0%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
18
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 2021: 20 new, 12 added, 9 reduced, 24 exited

50 of 58
ACM AECOMIndustrials8.5%$463m7.33m−1.3%reduced
GEN GEN DIGITAL INCTechnology7.7%$423m16.70m0.0%held
CTVA CORTEVA INCBasic Materials7.1%$387m9.19m−4.1%reduced
ON ON SEMICONDUCTOR CORPTechnology7.0%$382m8.34m−4.0%reduced
PZZA PAPA JOHNS INTL INCConsumer Cyclical6.4%$350m2.76m−20%reduced
HUN HUNTSMAN CORPBasic Materials6.3%$343m11.60m–new
IWM ISHARES TR–6.0%$328m1.50m+159%added
CVLT COMMVAULT SYSTEMS INCTechnology5.6%$307m4.08m0.0%held
BOX BOX INCTechnology5.3%$289m12.21m−6.1%reduced
ACIW ACI WORLDWIDE INCTechnology5.1%$276m8.99m0.0%held
GDOT GREEN DOT CORPFinancial Services4.9%$266m5.29m0.0%held
MMSI MERIT MED SYS INCHealthcare4.7%$254m3.54m−1.5%reduced
ELAN ELANCO ANIMAL HEALTH INCHealthcare4.3%$233m7.31m−3.9%reduced
CERNCHF CERNER CORP–4.2%$229m3.25m+2.0%added
MGLNUSD MAGELLAN HEALTH INC–4.1%$224m2.37m0.0%held
MD PEDIATRIX MEDICAL GROUP INCHealthcare3.1%$168m5.92m−30%reduced
CYXTERA TECHNOLOGIES INC no ticker–2.8%$153m16.53m–new
GCPEUR GCP APPLIED TECHNOLOGIES INC–2.6%$143m6.54m0.0%held
EHTH EHEALTH INCFinancial Services1.5%$82.9m2.05m+7.9%added
SCOR COMSCORE INCTechnology0.2%$9.4m2.42m0.0%held
WARBURG PINCUS CAPTAL CORP I no ticker–0.2%$8.3m847,0850.0%held
DIRECT SELLING ACQUISITION CO no ticker–0.1%$6.0m600,000–new
LEAD EDGE GROWTH OPRTUNTS LT no ticker–0.1%$5.9m600,0000.0%held
SLAM CORP no ticker–0.1%$5.9m601,0000.0%held
KKR ACQUISITION HOLDING I CO no ticker–0.1%$5.8m594,8000.0%held
GIGCAPITAL 5 INC no ticker–0.1%$5.7m550,000–new
CENAQ ENERGY CORP no ticker–0.09%$5.0m500,000–new
L&F ACQUISITION CORP no ticker–0.09%$5.0m500,000+62%added
AUSTERLITZ ACQUISITION CORP no ticker–0.09%$5.0m500,000+100%added
ALTIMAR ACQUISITION CORP II no ticker–0.09%$4.9m500,0000.0%held
KHOSLA VENTURES ACQUSTN CO I no ticker–0.09%$4.9m500,000+67%added
FOREST ROAD ACQUISITION COR no ticker–0.09%$4.9m500,0000.0%held
SWITCHBACK II CORPORATION no ticker–0.08%$4.5m450,000–new
890 5TH AVE PARTNERS INC no ticker–0.08%$4.5m450,000–new
VPC IMPACT ACQU HOLDI III IN no ticker–0.08%$4.5m450,000–new
TREBIA ACQUISITION CORP no ticker–0.08%$4.5m450,000–new
ROSS ACQUISITION CORP II no ticker–0.08%$4.4m450,0000.0%held
CC NEUBERGER PRIN HLDGS II no ticker–0.08%$4.2m422,700+12%added
TAILWIND ACQUISITION CORP no ticker–0.07%$3.9m400,000+33%added
MISSION ADVANCEMENT CORP no ticker–0.07%$3.9m400,0000.0%held
ATLANTIC COASTAL ACQUISTN CO no ticker–0.07%$3.9m400,000+2.7%added
PLUM ACQUISITION CORP I no ticker–0.07%$3.9m400,000+17%added
MEDTECH ACQUISITION CORP no ticker–0.07%$3.7m375,000+150%added
FORTRESS VALUE ACQUIS CORP I no ticker–0.06%$3.4m350,000+85%added
DRAGONEER GROWTH OPT CORP II no ticker–0.06%$3.3m335,8580.0%held
DATA KNIGHTS ACQUISITION COR no ticker–0.06%$3.2m315,803–new
ARTEMIS STRATEGIC INVT CORP no ticker–0.06%$3.0m300,000–new
MOUNTAIN CREST ACQUSTN CORP no ticker–0.05%$3.0m300,000–new
HENNESSY CAPITAL INVS CORP V no ticker–0.05%$3.0m300,000–new
CATALYST PARTNRS ACQUISITN C no ticker–0.04%$2.4m250,000–new

Exited since Q2 2021

24 rows
IWN ISHARES TR0.3%$17.1m
KHOSLA VENTURES ACQUT CO III no ticker0.10%$4.9m
TWCT TWC TECH HLDGS II CORP0.09%$4.5m
MONTES ARCHIMEDES ACQUISITIO no ticker0.09%$4.4m
ROTOR ACQUISITION CORP no ticker0.07%$3.6m
SUPERNOVA PARTNERS ACQUISITI no ticker0.07%$3.5m
DATA KNIGHTS ACQUISITION COR no ticker0.06%$3.1m
QELL ACQUISITION CORP no ticker0.06%$3.0m
CATALYST PARTNRS ACQUISITN C no ticker0.05%$2.5m
EG ACQUISITION CORP no ticker0.05%$2.5m
D8 HOLDINGS CORP no ticker0.05%$2.5m
NAVSIGHT HLDGS INC no ticker0.05%$2.4m
NEBULA CARAVEL ACQUISITION C no ticker0.04%$2.0m
KISMET ACQUISITION ONE CORP no ticker0.04%$2.0m
VCVC 10X CAPITAL VENTURE ACQU COR0.04%$2.0m
ASPIRATIONAL CONSUMER LIFEST no ticker0.03%$1.7m
INDUSTRIAL TECH ACQU INC no ticker0.03%$1.4m
OSPREY TECHNLGY AQUISTION CO no ticker0.03%$1.3m
ROTH CH ACQUISITION II CO no ticker0.02%$993k
TPG PACE TECH OPPORUNITIES no ticker0.02%$993k
DRAGONEER GROWTH OPPORTUN CO no ticker0.01%$479k
SOFTWARE ACQUISITN GRUP INC no ticker0.01%$431k
REINVENT TECHNOLOGY PARTNERS no ticker0.01%$315k
NEXTGEN ACQUISITION CORP no ticker0.0%$232k

Sector mix

  • Technology30.9%
  • Unclassified22.4%
  • Basic Materials13.4%
  • Healthcare12.0%
  • Industrials8.5%
  • Consumer Cyclical6.4%
  • Financial Services6.4%
  • Utilities0.02%

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