Starboard Value adds and exits SPACs; expands stakes in Godaddy, trims in Corteva, On Semiconductor
ismagilov


In its recent 13F filing for the June 30, 2022 ended quarter, Jeffrey Smith's Starboard Value fund, worth $5.5B, disclosed 27 new buys which included, by size of position, mostly SPACs; to name a few: Investcorp India Acquisition (IVCA), Clean Earth Acquisitions Class A (CLIN), A. Spac II Acquisition (ASCA), Fast Acquisition II Class A (FZT), and Ftac Emerald Acquisition Class A (EMLD).

Again mostly being SPACs, Starboard exited 14 positions during the quarter, including by size of previous position E.Merge Technology Acquisition Class A (ETAC) and ZeroFox (ZFOX).
The fund increased its stake in seven holdings which included Mercury Systems (MRCY), Dragoneer Growth Opportunities III (DGNU), Digital Health Acquisition (DHAC), NortonLifeLock (NLOK), Godaddy (GDDY) and LivePerson (LPSN).
Stakes were reduced in 13 holdings, including by size of previous position Huntsman (HUN), Corteva (CTVA), iShares Russell 2000 ETF (IWM), Kohl's (KSS), and On Semiconductor (ON).
The fund's top holdings as of June 30, in order of size, were GoDaddy (GDDY), Aecom (ACM), Humana (HUM), Willis Towers Watson (WTW), and NortonLifeLock.