According to a newly-amended 13D filing, Jeff Smith‘s Starboard Value LP owns 40.55 million shares of Quantum Corp (NYSE:QTM), which represent 14.2% of the company’s outstanding stock. The stake was slightly reduced from 42.42 million shares Starboard Value LP disclosed in a filing in January. In addition, the investor revealed in the filing that it had exercised its replacement rights and recommended the appointment of Clifford Press to Quantum’s board of directors to replace the position of Philip Black who had resigned. Black was appointed to the company’s board under the terms of a settlement agreement between Starboard and Quantum Corporation. Press was appointed to the board on April 1.
Heading into 2016, a total of 14 of the hedge funds tracked by Insider Monkey held long positions in this stock, down by three over the quarter. Aside from Starboard, other funds with significant positions in Quantum Corporation include Gregg J. Powers’ Private Capital Management, George Soros’s Soros Fund Management, Paul Orlin and Alex Porter’s Amici Capital and Jim Simons’s Renaissance Technologies.
On the other hand, several funds unloaded their entire positions in Quantum Corp (NYSE:QTM), including Peter S. Park’s Park West Asset Management and Andy Redleaf’s Whitebox Advisors, which dropped $6.5 million and $1.6 million worth of shares respectively.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD||24,582,539||40,553,694||24,582,539||40,553,694||24,582,539||8.8%|
|STARBOARD VALUE AND OPPORTUNITY S||5,269,399||40,553,694||5,269,399||40,553,694||5,269,399||2.0%|
|STARBOARD VALUE AND OPPORTUNITY C||2,457,479||2,457,479||2,457,479||Less than 1%|
|STARBOARD VALUE R||2,457,479||2,457,479||2,457,479||Less than 1%|
|STARBOARD VALUE R GP||2,457,479||2,457,479||2,457,479||Less than 1%|
|STARBOARD VALUE GP||40,553,694||40,553,694||40,553,694||14.2%|
|STARBOARD PRINCIPAL CO||40,553,694||40,553,694||40,553,694||14.2%|
|STARBOARD PRINCIPAL CO GP||40,553,694||40,553,694||40,553,694||14.2%|
|JEFFREY C. SMITH||137,565||137,565||40,691,259||14.2%|
|MARK R. MITCHELL||40,553,694||14.2%|
|PETER A. FELD||40,553,694||14.2%|
Page 1 of 20 – SEC Filing
(Name, Address and Telephone Number of Person