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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
+10.19%
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
$4.81B
AUM Growth
+$395M
Cap. Flow
+$135M
Cap. Flow %
2.81%
Top 10 Hldgs %
84.7%
Holding
33
New
3
Increased
3
Reduced
10
Closed
5

Top Buys

Rank Stock Value
1
NSP icon
Insperity
NSP
+$103M
2
BCO icon
Brink's
BCO
+$53.3M
3
SGI
Somnigroup International
SGI
+$37.4M
4
BNY
Bank of New York Mellon
BNY
+$29.2M
5
ISSI
INTEGRATED SILICON SOLUTN INC
ISSI
+$6.3M

Top Sells

Rank Stock Value
1
SPLS
Staples Inc
SPLS
+$93.7M
2
FDO
FAMILY DOLLAR STORES
FDO
+$47.5M
3
CLH icon
Clean Harbors
CLH
+$46.6M
4
ADEA icon
Adeia
ADEA
+$44.5M
5
YHOO
Yahoo Inc
YHOO
+$40.7M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 29.92%
2 Materials 13.51%
3 Industrials 8.47%
4 Energy 6.31%
5 Technology 3.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DSPG
26
DELISTED
DSP Group Inc
DSPG
$4.67M 0.1%
390,000
-425,000
-52% -$4.75M
CCC
27
DELISTED
Calgon Carbon Corp
CCC
$3.16M 0.07%
150,000
-1,780,000
-92% -$36.1M
DG icon
28
Dollar General
DG
$27.2B
– –
-25,000
Closed -$1.77M
EPC icon
29
Edgewell Personal Care
EPC
$1.32B
– –
-256,310
Closed -$24.4M
IDTI
30
DELISTED
Integrated Device Technology I
IDTI
– –
-1,900,000
Closed -$37.2M
FDO
31
DELISTED
FAMILY DOLLAR STORES
FDO
– –
-600,000
Closed -$47.5M
AOL
32
DELISTED
AOL INC COMMON STOCK
AOL
– –
-225,000
Closed -$10.4M
1
2

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Jeffrey Smith's Q1 2015 Portfolio in Review

As of Q1 2015, Jeffrey Smith held 33 positions worth $4.81B, up 9% from $4.41B the previous quarter. Its ten largest holdings account for 85% of the portfolio.

Jeffrey Smith's Q1 2015 filing shows 3 new, 3 increased, 10 reduced and 5 closed positions. Its largest new stake was Brink's: 2,075,000 shares worth $57.3M. The largest sale was Staples Inc, an estimated $93.7M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 30% of assets, down from 32% a quarter earlier, followed by Materials and Industrials.

  • Jeffrey Smith's largest Q1 2015 buy was Brink's: 2,075,000 shares worth $57.3M.
  • Jeffrey Smith added most to Insperity in Q1 2015, an estimated $103M increase.
  • Jeffrey Smith's biggest Q1 2015 reduction was Staples Inc, cutting an estimated $93.7M.
  • Jeffrey Smith fully exited FAMILY DOLLAR STORES in Q1 2015, selling an estimated $47.5M.
  • Jeffrey Smith's ten largest holdings make up 85% of its $4.81B portfolio in Q1 2015.
  • Jeffrey Smith opened 3 new positions and closed 5 in Q1 2015.
  • Jeffrey Smith's portfolio value rose 9% quarter-over-quarter to $4.81B.

Based on Starboard Value's 13F filing for Q1 2015, filed 15 May 2015.