IVCA - Starboard Value adds and exits SPACs; expands stakes in Godaddy trims in Corteva On Semiconductor

• 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.

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