On Thursday morning, reports were released that activist investor Starboard Value LP has acquired a 5.1% stake in Staples.
Inside the News
Starboard Value LP has acquired a 5.1% stake in Staples. In addition, the firm has boosted its stake in Office Depot to 9.9%.
Many analysts and investors have been pushing for the two office supply companies to join in order to better compete with companies like Amazon (AMZN). This deal may increase pressure for the two companies to make a deal.
Mutual Funds to Watch
Investors seeking exposure to Staples may also consider a mutual fund investment as an alternative to directly investing in the stock. The mutual funds listed below currently hold the largest stakes in the company.
| Symbol | Mutual Fund | Stake |
|---|---|---|
| FLPSX | Fidelity® Low-Priced Stock | 3.93% |
| CHTTX | ASTON/Fairpointe Mid Cap | 2.78% |
| FDSAX | SunAmerica Focused Dividend Strategy | 2.55% |
The Bottom Line
The funds above may be a good alternative for investors that are interested in SPLS but are seeking additional exposure to other holdings and industries. Investors interested in SPLS may also be interested in Office Depot (ODP) and OfficeMax (OMX).
Shares of SPLS has been flat YTD.