Jeffrey Smith's Starboard Value adds Wix, MCAC, exits Elanco, Kohl's in Q3

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