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13F Highlights: Starboard, Third Point

Some notable buys and sells per 4Q 13Fs from some top hedge funds. 

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Starboard Value

ADDITIONS:  Nearly doubled its Baxter (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 (DRI) spinoff REIT, Four Corners Property Trust (FCPT) - 10th largest holding.

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

REDUCTIONS:  Sold out of 24% of its WestRock (WRK) stake and dumped close to 90% of its Office Depot (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 Stanely (MS). 

REDUCTIONS:  Sold most of its Yum! (YUM) was 4th largest holding, sold most of Kraft (KHC) was 5th, and sold all of T-Mobile (TMUS) was 8th. 

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