Starboard’s shares of NortonLifeLock Inc. were valued at more than $421 million at the end of June, making it the firm’s fifth most valuable holding at the time.
Starboard’s involvement with the Tempe-based cybersecurity firm goes back to 2018, when the company was stillIn 2018 Starboard bought a 5.8% stake in Symantec and nominated five people to its board before Symantec settled and to join the board. Peter Feld, a managing partner at Starboard, is still on NortonLifeLock’s board today. Symantec was broken up in 2019 and its consumer business was rebranded as NortonLifeLock.Starboard sold shares of Onsemi in its most recent quarterly report, but its holding was still worth more that $282 million, making it the sixth most valuable position in the firm’s portfolio.Onsemi stock is up about 1.2% year-to-date.