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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
+3.45%
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
$3.26B
AUM Growth
-$128M
Cap. Flow
-$427M
Cap. Flow %
-13.09%
Top 10 Hldgs %
89.25%
Holding
27
New
4
Increased
5
Reduced
6
Closed
6

Top Buys

Rank Stock Value
1
FTNT icon
Fortinet
FTNT
+$148M
2
IWN icon
iShares Russell 2000 Value ETF
IWN
+$46.3M
3
CTSH icon
Cognizant
CTSH
+$31.6M
4
HPE icon
Hewlett Packard
HPE
+$26.7M
5
ABCO
Advisory Board Co
ABCO
+$17.7M

Top Sells

Rank Stock Value
1
M icon
Macy's
M
+$108M
2
COL
Rockwell Collins
COL
+$102M
3
BCO icon
Brink's
BCO
+$75.5M
4
WRK
WestRock Company
WRK
+$35.5M
5
VIAV icon
Viavi Solutions
VIAV
+$28.6M

Sector Composition

Rank Sector Weight
1 Technology 28.41%
2 Healthcare 25.25%
3 Energy 17.48%
4 Consumer Discretionary 13.46%
5 Industrials 6.75%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
COL
26
DELISTED
Rockwell Collins
COL
– –
-1,100,000
Closed -$102M
1
2

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Jeffrey Smith's Q1 2017 Portfolio in Review

As of Q1 2017, Jeffrey Smith held 27 positions worth $3.26B, down 3.8% from $3.39B the previous quarter. Its ten largest holdings account for 89% of the portfolio.

Jeffrey Smith withdrew a net $427M in Q1 2017, closing 6 positions and reducing 6 holdings. Its most notable exit was Macy's, an estimated $108M position sold in full.

By sector, the portfolio is most concentrated in Technology at 28% of assets, up from 20% a quarter earlier, followed by Healthcare and Energy.

Against the trend, Jeffrey Smith opened a new position in Fortinet worth $160M.

  • Jeffrey Smith's largest Q1 2017 buy was Fortinet: 20,867,120 shares worth $160M.
  • Jeffrey Smith added most to iShares Russell 2000 Value ETF in Q1 2017, an estimated $46.3M increase.
  • Jeffrey Smith's biggest Q1 2017 reduction was Brink's, cutting an estimated $75.5M.
  • Jeffrey Smith fully exited Macy's in Q1 2017, selling an estimated $108M.
  • Jeffrey Smith's ten largest holdings make up 89% of its $3.26B portfolio in Q1 2017.
  • Jeffrey Smith opened 4 new positions and closed 6 in Q1 2017.
  • Jeffrey Smith's portfolio value fell 3.8% quarter-over-quarter to $3.26B.

Based on Starboard Value's 13F filing for Q1 2017, filed 12 May 2017.