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Jeffrey Smith Starboard Value

AUM $4.52B
1-Year Est. Return 19.34%
 

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.

This Fund
S&P 500
This Quarter Est. Return
+17.96%
1 Year Est. Return
+19.34%
3 Year Est. Return
+55.97%
5 Year Est. Return
+85.4%
10 Year Est. Return
+430.11%
AUM
$4.52B
AUM Growth
-$51M
Cap. Flow
-$649M
Cap. Flow %
-14.36%
Top 10 Hldgs %
84.3%
Holding
28
New
2
Increased
3
Reduced
11
Closed
6

Top Buys

Rank Stock Value
1
DT icon
Dynatrace
DT
+$345M
2
IJH icon
iShares Core S&P Mid-Cap ETF
IJH
+$224M
3
FLS icon
Flowserve
FLS
+$110M
4
BILL icon
BILL Holdings
BILL
+$33.2K

Top Sells

Rank Stock Value
1
QRVO icon
Qorvo
QRVO
+$175M
2
GEN icon
Gen Digital
GEN
+$147M
3
KMX icon
CarMax
KMX
+$130M
4
CWAN
Clearwater Analytics
CWAN
+$129M
5
MTCH icon
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
HYG icon
26
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.8B
– –
-3,000,000
Closed -$3M
IWM icon
27
PUT
iShares Russell 2000 ETF
IWM
$81.9B
– –
-683,100
Closed -$2.7M
ROG icon
28
Rogers Corp
ROG
$2.26B
– –
-584,328
Closed -$62.7M
1
2

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MP
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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.