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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
+7.29%
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
$2.84B
AUM Growth
-$865M
Cap. Flow
-$976M
Cap. Flow %
-34.32%
Top 10 Hldgs %
91.16%
Holding
27
New
4
Increased
5
Reduced
4
Closed
9

Top Buys

Rank Stock Value
1
MRVL icon
Marvell Technology
MRVL
+$188M
2
YHOO
Yahoo Inc
YHOO
+$163M
3
ASRT
Assertio
ASRT
+$45.6M
4
IWN icon
iShares Russell 2000 Value ETF
IWN
+$40.3M
5
M icon
Macy's
M
+$25.4M

Top Sells

Rank Stock Value
1
DRI icon
Darden Restaurants
DRI
+$318M
2
MDAS
MEDASSETS INC COM STK (DE)
MDAS
+$165M
3
MEG
Media General, Inc
MEG
+$88.9M
4
WPP
WAUSAU PAPER CORP.
WPP
+$76.7M
5
RLD
REALD INC COM STK
RLD
+$49.1M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 37.39%
2 Energy 15.91%
3 Industrials 13.95%
4 Technology 7.8%
5 Healthcare 5.16%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WPP
26
DELISTED
WAUSAU PAPER CORP.
WPP
– –
-7,500,000
Closed -$76.7M
1
2

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Jeffrey Smith's Q1 2016 Portfolio in Review

As of Q1 2016, Jeffrey Smith held 27 positions worth $2.84B, down 23% from $3.71B the previous quarter. Its ten largest holdings account for 91% of the portfolio.

Jeffrey Smith withdrew a net $976M in Q1 2016, closing 9 positions and reducing 4 holdings. Its most notable exit was MEDASSETS INC COM STK (DE), an estimated $165M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 37% of assets, up from 37% a quarter earlier, followed by Energy and Industrials.

Against the trend, Jeffrey Smith opened a new position in Marvell Technology worth $210M.

  • Jeffrey Smith's largest Q1 2016 buy was Marvell Technology: 20,397,364 shares worth $210M.
  • Jeffrey Smith added most to Yahoo Inc in Q1 2016, an estimated $163M increase.
  • Jeffrey Smith's biggest Q1 2016 reduction was Darden Restaurants, cutting an estimated $318M.
  • Jeffrey Smith fully exited MEDASSETS INC COM STK (DE) in Q1 2016, selling an estimated $165M.
  • Jeffrey Smith's ten largest holdings make up 91% of its $2.84B portfolio in Q1 2016.
  • Jeffrey Smith opened 4 new positions and closed 9 in Q1 2016.
  • Jeffrey Smith's portfolio value fell 23% quarter-over-quarter to $2.84B.

Based on Starboard Value's 13F filing for Q1 2016, filed 13 May 2016.