WhaleCreep

Starboard Value LP 13F holdings, Q4 2021

Hedge fundSEC filingsCompare with another fundHoldings as of 2021-12-31, filed 2022-02-14

Starboard Value LP disclosed 135 US equity positions worth $7.2bn in its Q4 2021 13F filing. Its largest position is HUN at 8.7% of the reported book, followed by GDDY and ACM. Versus Q3 2021 it opened 96 new positions, added to 6, reduced 24 and exited 19.

$7.2bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
135
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
8.7%
Largest position
The largest single position as a share of the reported equity book.
64.2%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
19
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 Q3 2021: 96 new, 6 added, 24 reduced, 19 exited

50 of 135
HUN HUNTSMAN CORPBasic Materials8.7%$629m18.03m+55%added
GDDY GODADDY INCTechnology8.0%$576m6.79m–new
ACM AECOMIndustrials7.8%$560m7.24m−1.3%reduced
ON ON SEMICONDUCTOR CORPTechnology7.1%$514m7.57m−9.2%reduced
WTW WILLIS TOWERS WATSON PLC LTDFinancial Services6.9%$499m2.10m–new
GEN GEN DIGITAL INCTechnology6.0%$434m16.70m0.0%held
CTVA CORTEVA INCBasic Materials5.8%$421m8.90m−3.2%reduced
PZZA PAPA JOHNS INTL INCConsumer Cyclical5.1%$368m2.76m0.0%held
CERNCHF CERNER CORP–4.4%$318m3.43m+5.6%added
ACIW ACI WORLDWIDE INCTechnology4.3%$312m8.99m0.0%held
IWM ISHARES TR–4.3%$308m1.38m−7.6%reduced
CVLT COMMVAULT SYSTEMS INCTechnology4.1%$296m4.29m+5.1%added
MGLNUSD MAGELLAN HEALTH INC–3.1%$225m2.37m0.0%held
ELAN ELANCO ANIMAL HEALTH INCHealthcare3.0%$218m7.69m+5.1%added
CYXTERA TECHNOLOGIES INC no ticker–2.9%$208m16.53m0.0%held
GCPEUR GCP APPLIED TECHNOLOGIES INC–2.9%$207m6.54m0.0%held
GDOT GREEN DOT CORPFinancial Services2.7%$192m5.29m0.0%held
COLFAX CORP no ticker–2.5%$180m3.92m–new
MD PEDIATRIX MEDICAL GROUP INCHealthcare2.2%$161m5.92m0.0%held
MMSI MERIT MED SYS INCHealthcare1.1%$81.1m1.30m−63%reduced
EHTH EHEALTH INCFinancial Services0.7%$52.2m2.05m0.0%held
INTEGRATED RAIL AND RES ACQ no ticker–0.1%$10.7m1.07m–new
WARBURG PINCUS CAPTAL CORP I no ticker–0.1%$7.9m807,272−4.7%reduced
ONYX ACQUISITION CO I no ticker–0.1%$7.6m769,600–new
BURTECH ACQUISITION CORP no ticker–0.1%$7.5m750,000–new
MOUNT RAINIER ACQUISITION CO no ticker–0.1%$7.4m725,421–new
MCLAREN TECHNOLOGY ACQ CORP no ticker–0.1%$7.3m731,000–new
AVALON ACQUISITION INC no ticker–0.1%$7.2m731,000–new
DIGITAL HEALTH ACQUISITION C no ticker–0.10%$7.2m700,000–new
BULLPEN PARLAY ACQUISITION C no ticker–0.10%$7.0m700,000–new
BIOPLUS ACQUISITION CORP no ticker–0.10%$7.0m700,000–new
SPINDLETOP HEALTH ACQUISITIO no ticker–0.10%$6.9m727,200–new
SIZZLE ACQUISITION CORP no ticker–0.10%$6.9m681,000–new
TREBIA ACQUISITION CORP no ticker–0.09%$6.8m680,100+51%added
INDUSTRIAL HUMAN CAPITAL INC no ticker–0.09%$6.7m679,059–new
ROSE HILL ACQUISITION CORP no ticker–0.09%$6.7m673,401–new
CRESCERA CAP ACQUISITION COR no ticker–0.08%$5.9m584,800–new
VAHANNA TECH EDGE ACQSTN I C no ticker–0.08%$5.8m580,103–new
NEWCOURT ACQUISITION CORP no ticker–0.08%$5.8m588,600–new
LIBERTY RES ACQUISITION CORP no ticker–0.08%$5.8m565,251–new
ENERGEM CORP no ticker–0.08%$5.8m570,258–new
DIRECT SELLING ACQUISITIN CO no ticker–0.08%$5.7m576,000–new
LEAD EDGE GROWTH OPRTUNTS LT no ticker–0.08%$5.6m571,700−4.7%reduced
SLAM CORP no ticker–0.08%$5.6m572,753−4.7%reduced
KKR ACQUISITION HOLDING I CO no ticker–0.08%$5.5m566,844−4.7%reduced
GOGREEN INVESTMENTS CORP no ticker–0.08%$5.4m548,645–new
GIGCAPITAL 5 INC no ticker–0.07%$5.2m528,000–new
MOUNTAIN & CO I ACQUISITN CO no ticker–0.07%$5.1m498,100–new
INVESTCORP EUROPE ACQUISITIO no ticker–0.07%$5.0m500,000–new
GENESIS GRWT TECH ACQUSTN CO no ticker–0.07%$5.0m500,000–new

Exited since Q3 2021

19 rows
BOX BOX INC5.3%$289m
SCOR COMSCORE INC0.2%$9.4m
DIRECT SELLING ACQUISITION CO no ticker0.1%$6.0m
GIGCAPITAL 5 INC no ticker0.1%$5.7m
CENAQ ENERGY CORP no ticker0.09%$5.0m
ALTIMAR ACQUISITION CORP II no ticker0.09%$4.9m
KHOSLA VENTURES ACQUSTN CO I no ticker0.09%$4.9m
SWITCHBACK II CORPORATION no ticker0.08%$4.5m
890 5TH AVE PARTNERS INC no ticker0.08%$4.5m
VPC IMPACT ACQU HOLDI III IN no ticker0.08%$4.5m
ATLANTIC COASTAL ACQUISTN CO no ticker0.07%$3.9m
ARTEMIS STRATEGIC INVT CORP no ticker0.06%$3.0m
MOUNTAIN CREST ACQUSTN CORP no ticker0.05%$3.0m
HENNESSY CAPITAL INVS CORP V no ticker0.05%$3.0m
SOAR TECHNOLOGY ACQUISN CORP no ticker0.04%$2.0m
IWR ISHARES TR0.04%$2.0m
PARABELLUM ACQUISITION CORP no ticker0.03%$1.5m
DD3 ACQUISITION CORP II no ticker0.03%$1.5m
CIIG CAPITAL PARTNERS II INC no ticker0.02%$1.0m

Sector mix

  • Technology29.6%
  • Unclassified26.3%
  • Basic Materials14.5%
  • Financial Services10.3%
  • Industrials7.8%
  • Healthcare6.4%
  • Consumer Cyclical5.1%
  • Utilities0.01%

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