- Starboard Value, the hedge fund run by Jeffrey Smith, took established new positions in Wix ( NASDAQ: WIX ) (~2.57M shares) and SPACs including Monterey Capital Acquisition Corp. ( NASDAQ: MCAC ) (375K) and Acri Capital Acquisition Corp. ( NASDAQ: ACAC ) (300K) in the quarter ended Sept. 30, 2022, according to its 10F filing .
- It also closed out positions in Elanco Animal Health( NYSE: ELAN ), Corteva ( NYSE: CTVA ), Merit Medical Systems ( NASDAQ: MMSI ), and Kohl's ( NYSE: KSS ).
- The fund boosted stakes in Atlantic Coastal Acquisition ( NASDAQ: ACAH ) to 1.37M shares from 1.07M and Legato Merger Crop. II ( NASDAQ: LGTO ) to 525K from ~350K, while reducing holdings in ON Semiconductor ( NASDAQ: ON ) to 2.45M shares from 5.26M, Huntsman ( NYSE: HUN ) to 5.13M from 8.31M, and ACI Worldwide ( NASDAQ: ACIW ) to 1.21M from 5.20M.
- Last month, Acacia Research ( ACTG ) reached a deal with Starboard Value to streamline its capital structure
For further details see:
Jeffrey Smith's Starboard Value adds Wix, MCAC, exits Elanco, Kohl's in Q3