Jeffrey Smith Starboard Value
Jeffrey Smith is the CEO of Starboard Value, one of the most active and successful activist investment firms of the past decade. Starboard is known for detailed operational white papers, board campaigns, and efforts to improve margins and capital allocation at portfolio companies. Smith’s firm is a regular presence in corporate governance and activist-investing news.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Dynatrace
DT
|
+$345M |
| 2 |
iShares Core S&P Mid-Cap ETF
IJH
|
+$224M |
| 3 |
Flowserve
FLS
|
+$110M |
| 4 |
BILL Holdings
BILL
|
+$33.2K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Qorvo
QRVO
|
+$175M |
| 2 |
Gen Digital
GEN
|
+$147M |
| 3 |
CarMax
KMX
|
+$130M |
| 4 |
CWAN
Clearwater Analytics
CWAN
|
+$129M |
| 5 |
Match Group
MTCH
|
+$128M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.79% |
| 2 | Consumer Staples | 17.01% |
| 3 | Industrials | 12.26% |
| 4 | Communication Services | 9.17% |
| 5 | Utilities | 7.41% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
iShares Core S&P Mid-Cap ETF
IJH
$126B
| $685M | 15.13% |
8,877,781
+3,047,125
| +52% | +$224M |
|
|
2
Qorvo
QRVO
$8.43B
| $523M | 11.57% |
5,611,526
-1,899,345
| -25% | -$175M |
|
3
Kenvue
KVUE
$36.6B
| $522M | 11.54% |
27,307,632
| – | – |
|
|
4
Dynatrace
DT
$14.2B
| $389M | 8.61% |
+8,866,692
| New | +$345M |
|
5
Algonquin Power & Utilities
AQN
$4.39B
| $335M | 7.41% |
57,189,420
| – | – |
|
|
6
Match Group
MTCH
$9.38B
| $296M | 6.54% |
7,775,125
-3,620,254
| -32% | -$128M |
|
7
Acacia Research
ACTG
$440M
| $285M | 6.3% |
61,123,595
| – | – |
|
8
Riot Platforms
RIOT
$7.44B
| $277M | 6.12% |
10,114,576
-5,430,000
| -35% | -$122M |
|
|
9
BILL Holdings
BILL
$4.76B
| $254M | 5.62% |
7,025,748
+900
| +0% | +$33.2K |
|
10
Lamb Weston
LW
$7.38B
| $248M | 5.47% |
5,733,982
-381,000
| -6% | -$16.4M |
|
|
11
CarMax
KMX
$8.82B
| $170M | 3.75% |
3,206,438
-2,994,924
| -48% | -$130M |
|
|
12
Flowserve
FLS
$10.1B
| $107M | 2.36% |
+1,441,600
| New | +$110M |
|
13
Fluor
FLR
$7.01B
| $83.1M | 1.84% |
1,586,327
-1,300,000
| -45% | -$63.7M |
|
|
GPGI
14
GPGI Inc
GPGI
$3.71B
| $79.7M | 1.76% |
5,027,028
| – | – |
|
15
TripAdvisor
TRIP
$1.17B
| $69.9M | 1.54% |
5,096,996
-5,678,000
| -53% | -$64.2M |
|
16
News Corp Class B
NWS
$18.7B
| $68.2M | 1.51% |
2,431,081
-158,000
| -6% | -$4.7M |
|
17
News Corp Class A
NWSA
$16.4B
| $50.7M | 1.12% |
2,040,100
-3,565,026
| -64% | -$92.4M |
|
18
Healthcare Realty
HR
$6.65B
| $39.1M | 0.86% |
1,936,267
-4,885,000
| -72% | -$94.9M |
|
19
Bloomin' Brands
BLMN
$996M
| $38.2M | 0.84% |
4,180,992
-3,800,000
| -48% | -$27.7M |
|
|
BIXI
20
Bitcoin Infrastructure Acquisition Corp
BIXI
$304M
| $3M | 0.07% |
300,000
| – | – |
|
|
21
PUT
Riot Platforms
RIOT
$7.44B
| $1.92M | 0.04% |
2,423,400
+1,630,900
| +206% | +$36.8M |
|
|
BIXIW
22
Bitcoin Infrastructure Acquisition Corp Warrant
BIXIW
$4.4M
| $47.5K | ﹤0.01% |
149,999
| – | – |
|
23
Becton Dickinson
BDX
$52.3B
| – | – |
-636,494
| Closed | -$100M |
|
|
CWAN
24
DELISTED
Clearwater Analytics
CWAN
| – | – |
-5,459,031
| Closed | -$129M |
|
|
25
Gen Digital
GEN
$17.3B
| – | – |
-7,806,922
| Closed | -$147M |
|
Similar funds
Jeffrey Smith's Q2 2026 Portfolio in Review
As of Q2 2026, Jeffrey Smith held 28 positions worth $4.52B, down 1.1% from $4.57B the previous quarter. Its ten largest holdings account for 84% of the portfolio.
Jeffrey Smith withdrew a net $649M in Q2 2026, closing 6 positions and reducing 11 holdings. Its most notable exit was Gen Digital, an estimated $147M position sold in full.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 26% a quarter earlier, followed by Consumer Staples and Industrials.
Against the trend, Jeffrey Smith opened a new position in Dynatrace worth $389M.
- Jeffrey Smith's largest Q2 2026 buy was Dynatrace: 8,866,692 shares worth $389M.
- Jeffrey Smith added most to iShares Core S&P Mid-Cap ETF in Q2 2026, an estimated $224M increase.
- Jeffrey Smith's biggest Q2 2026 reduction was Qorvo, cutting an estimated $175M.
- Jeffrey Smith fully exited Gen Digital in Q2 2026, selling an estimated $147M.
- Jeffrey Smith's ten largest holdings make up 84% of its $4.52B portfolio in Q2 2026.
- Jeffrey Smith opened 2 new positions and closed 6 in Q2 2026.
- Jeffrey Smith's portfolio value fell 1.1% quarter-over-quarter to $4.52B.
Based on Starboard Value's 13F filing for Q2 2026, filed 14 Aug 2026.