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13F Insights: Starboard Value

Starboard Value, Jeff Smith's activist hedge fund, now has Advance Auto Parts (NYSE: AAP) as its third largest holding after adding the stock to its portfolio last quarter. 

The fund also doubled its Yahoo (NASDAQ: YHOO) stake, putting it as its sixth largest holding. The web search company has been having issues getting its Alibaba (NASDAQ: BABA) stake spun off. The opportunity came as shares took a big hit last quarter. 

It also sold off all its Staples (NASDAQ: SPLS) position, which was its tenth largest holding. Of note, Starboard Value has been trying to get Staples to buy Office Depot (NYSE: ODP). The company also took new stakes in Westrock (NYSE: WRK), Media General (NYSE: MEG) and Medassets (NASDAQ: MDAS). 

BWIStarboard Value