13F Highlights: Starboard, Third Point

Starboard Value

ADDITIONS: Nearly doubled its Baxter International Inc BAX position - also a Third Point activist target. It's now Starboard's 11th largest holding and owns 0.4%.

NEW: They also showed the new stake in the Darden Restaurants, Inc. DRI spinoff REIT, Four Corners Property Trust Limited FCPT - 10th largest holding.

Very small new positions in New York REIT (NYT), CIGNA Corporation CI and Synders-Lance Inc LNCE - 20th, 22nd and 23rd largest holdings, respectively.

REDUCTIONS: Sold out of 24% of its WestRock Co WRK stake and dumped close to 90% of its Office Depot Inc ODP shares. ODP now 16th largest holding, down from 5th.

Third Point

ADDITIONS: Added 50% to its Allergan (AGN) position, now 2nd largest holding.

NEW: Very small stake in Morgan Stanley MS.

REDUCTIONS: Sold most of its Yum! Brands, Inc. YUM was 4th largest holding, sold most of Kraft Heinz Co KHC was 5th, and sold all of T-Mobile US Inc TMUS was 8th.