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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
-11.16%
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
$4.48B
AUM Growth
+$44.5M
Cap. Flow
+$672M
Cap. Flow %
15%
Top 10 Hldgs %
86.7%
Holding
49
New
13
Increased
9
Reduced
3
Closed
17

Top Buys

Rank Stock Value
1
WRK
WestRock Company
WRK
+$366M
2
AAP icon
Advance Auto Parts
AAP
+$296M
3
YHOO
Yahoo Inc
YHOO
+$123M
4
MDAS
MEDASSETS INC COM STK (DE)
MDAS
+$113M
5
MEG
Media General, Inc
MEG
+$72.6M

Top Sells

Rank Stock Value
1
MWV
MEADWESTVACO CORP
MWV
+$417M
2
SPLS
Staples Inc
SPLS
+$115M
3
ADEA icon
Adeia
ADEA
+$56.4M
4
MCRL
MICREL INC
MCRL
+$51.3M
5
BABA icon
Alibaba
BABA
+$50M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 42.24%
2 Industrials 8.22%
3 Energy 4.59%
4 Communication Services 1.67%
5 Materials 1.62%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AGN
26
DELISTED
Allergan plc
AGN
$3.18M 0.07%
11,700
+5,200
+80% +$1.6M
BNY
27
Bank of New York Mellon
BNY
$108B
$1.69M 0.04%
+43,100
New +$1.79M
AVGO icon
28
Broadcom
AVGO
$1.75T
$1.43M 0.03%
+114,000
New +$1.44M
QCOM icon
29
Qualcomm
QCOM
$169B
$537K 0.01%
+10,000
New +$594K
ISSI
30
DELISTED
INTEGRATED SILICON SOLUTN INC
ISSI
$21K ﹤0.01%
1,000
-826,441
-100% -$18.1M
BABA icon
31
Alibaba
BABA
$286B
– –
-593,700
Closed -$50M
BWXT icon
32
BWX Technologies
BWXT
$14.4B
– –
-2,087,074
Closed -$49M
EPC icon
33
Edgewell Personal Care
EPC
$1.32B
– –
-343,900
Closed -$45.2M
GEG icon
34
Great Elm Group
GEG
$67.4M
– –
-847,357
Closed -$6.3M
HUM icon
35
CALL
Humana
HUM
$45.5B
– –
-350,000
Closed -$66.9M
HUM icon
36
Humana
HUM
$45.5B
– –
-20,000
Closed -$3.83M
THS
37
DELISTED
Treehouse Foods
THS
– –
-56,000
Closed -$4.48M
SGI
38
Somnigroup International
SGI
$13.6B
– –
-874,800
Closed -$14.4M
DSPG
39
DELISTED
DSP Group Inc
DSPG
– –
-229,500
Closed -$2.37M
DPLO
40
DELISTED
DIPLOMAT PHARMACY, INC.
DPLO
– –
-170,000
Closed -$7.61M
SGYP
41
DELISTED
Synergy Pharmaceuticals, Inc Common Stock
SGYP
– –
-525,000
Closed -$4.36M
PNK
42
CALL
DELISTED
Pinnacle Entertainment Inc.
PNK
– –
-450,000
Closed -$16.8M
BDBD
43
DELISTED
BOULDER BRANDS INC
BDBD
– –
-2,964,100
Closed -$20.6M
MCRL
44
DELISTED
MICREL INC
MCRL
– –
-3,689,432
Closed -$51.3M
MWV
45
DELISTED
MEADWESTVACO CORP
MWV
– –
-8,836,440
Closed -$417M
SPLS
46
DELISTED
Staples Inc
SPLS
– –
-8,136,527
Closed -$115M
1
2

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Jeffrey Smith's Q3 2015 Portfolio in Review

As of Q3 2015, Jeffrey Smith held 49 positions worth $4.48B, up 1% from $4.43B the previous quarter. Its ten largest holdings account for 87% of the portfolio.

Jeffrey Smith deployed $672M of net new capital in Q3 2015, opening 13 new positions and adding to 9 existing holdings. Its largest new stake was WestRock Company: 6,824,401 shares worth $316M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 42% of assets, up from 36% a quarter earlier, followed by Industrials and Energy.

On the sell side, the largest reduction was Adeia, an estimated $56.4M trimmed.

  • Jeffrey Smith's largest Q3 2015 buy was WestRock Company: 6,824,401 shares worth $316M.
  • Jeffrey Smith added most to Yahoo Inc in Q3 2015, an estimated $123M increase.
  • Jeffrey Smith's biggest Q3 2015 reduction was Adeia, cutting an estimated $56.4M.
  • Jeffrey Smith fully exited MEADWESTVACO CORP in Q3 2015, selling an estimated $417M.
  • Jeffrey Smith's ten largest holdings make up 87% of its $4.48B portfolio in Q3 2015.
  • Jeffrey Smith opened 13 new positions and closed 17 in Q3 2015.
  • Jeffrey Smith's portfolio value rose 1% quarter-over-quarter to $4.48B.

Based on Starboard Value's 13F filing for Q3 2015, filed 13 Nov 2015.