Jeffrey Smith’s Starboard Value disclosed in a regulatory filing its holdings as of March 31, 2018. Starboard made 1 new buy during the first quarter, acquiring 18.6M shares of Newell Brands (NWL). The fund exited 4 positions during the quarter, including by size of previous position, Fortinet(FTNT), Stewart Information (STC), Monotype Imaging (TYPE) and Cognizant (CTSH). Starboard increased its stake in 5 holdings, including by size, Forest City (FCE.A), Macerich (MAC), and Mellanox (MLNX). The fund reduced its stake in 6 holdings, including Brink’s (BCO), Bemis (BMS) and Baxter (BAX). Starboard’s top holdings as of March 31, in order of size, were Perrigo (PRGO), Marvell (MRVL), Newell, Mellanox and Advance Auto Parts (AAP).