Starboard Value LP

NEW YORK, NY · CIK 0001517137

Portfolio Value: $1.83B

Positions: 23

Period: 2014-03-31

Filed: 2014-05-12

Portfolio Value

$1.83B

Positions

New

Increased

Decreased

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Starboard Value LP Q1 2014 13F Filing Summary

Starboard Value LP (NEW YORK, NY) reported a portfolio value of $1.83B across 23 positions in their Q1 2014 SEC 13F filing (period ending 2014-03-31). Top holdings include DRI ($368.01M), IWM ($317.26M), ODPEUR ($191.32M). The top 10 positions account for 78.4% of the portfolio. This quarter saw 4 new positions, 4 increases, 10 reductions, 11 complete exits. Notable new buys: AIR ($69.55M), LXU ($41.72M), REALD INC ($25.13M). Notable exits: EMULEX CORP, NVDA, EXTR.

All Holdings

#	Stock	CUSIP	Value↓	Shares	Weight	Change
1	DRIDARDEN RESTAURANTS INC COM	237194105	$368.01M	7,250,000	20.14%	-
2	IWMISHARES RUSSELL 2000 ETF	464287655	$317.26M	2,727,000	17.36%	-4.7%
3	ODPEUROFFICE DEPOT INC COM	676220106	$191.32M	46,323,913	10.47%	+6.6%
4	IESCTESSERA TECHNOLOGIES INC COM	88164L100	$112.24M	4,750,000	6.14%	+1.1%
5	WAUSAU PAPER CORP COM	943315101	$95.47M	7,500,000	5.22%	-
6	CALGON CARBON CORP COM	129603106	$79.13M	3,625,000	4.33%	-24.1%
7	INTEGRATED DEVICE TECHNOLOGY COM	458118106	$73.38M	6,000,000	4.01%	-48.0%
8	AIRAARONS INC COM PAR $0.50	2535300	$69.55M	2,300,000	3.81%	New
9	BABBBABCOCK & WILCOX CO NEW COM	05615F102	$66.40M	2,000,000	3.63%	-16.7%
10	ICLRTRIQUINT SEMICONDUCTOR INC COM	89674K103	$59.74M	4,461,478	3.27%	-64.9%
11	CWCURTISS WRIGHT CORP COM	231561101	$59.41M	935,000	3.25%	-19.4%
12	COMPUWARE CORP COM	205638109	$51.45M	4,900,000	2.82%	-38.8%
13	NNBRREGIS CORP MINN NOTE 5.000% 7/1	758932AA5	$50.54M	49,429,000	2.77%	-
14	LXULSB INDS INC COM	502160104	$41.72M	1,115,000	2.28%	New
15	QMCOQUANTUM CORP NOTE 4.500% 11/1	747906AJ4	$31.47M	30,550,000	1.72%	-
16	QMCOQUANTUM CORP COM DSSG	747906204	$31.35M	25,695,000	1.72%	-
17	POLYCOM INC COM	73172K104	$30.87M	2,250,000	1.69%	-66.2%
18	REALD INC COM	75604L105	$25.13M	2,250,000	1.38%	New
19	RF MICRODEVICES INC COM	749941100	$22.09M	2,803,741	1.21%	New
20	UNWIRED PLANET INC NEW COM	91531F103	$20.52M	9,454,282	1.12%	+3.3%
21	DSP GROUP INC COM	23332B106	$14.17M	1,640,000	0.78%	-13.7%
22	ATIENTROPIC COMMUNICATIONS INC COM	29384R105	$12.07M	2,950,000	0.66%	+12.4%
23	NNBRREGIS CORP MINN COM	758932107	$4.39M	320,600	0.24%	-67.0%

Position Changes

Stock	Value	Shares
AIRAARONS INC	$69.55M	2,300,000
LXULSB INDS INC	$41.72M	1,115,000
REALD INC	$25.13M	2,250,000
RF MICRODEVICES INC	$22.09M	2,803,741