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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
+7.09%
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
$5.09B
AUM Growth
+$406M
Cap. Flow
+$455M
Cap. Flow %
8.93%
Top 10 Hldgs %
69.67%
Holding
83
New
45
Increased
11
Reduced
9
Closed
10

Top Buys

Rank Stock Value
1
PZZA icon
Papa John's
PZZA
+$336M
2
CERN
Cerner Corp
CERN
+$71.2M
3
WPCB
Warburg Pincus Capital Corporation I-B
WPCB
+$8.34M
4
IWM icon
iShares Russell 2000 ETF
IWM
+$8.32M
5
BOX icon
Box
BOX
+$6.22M

Top Sells

Rank Stock Value
1
CTVA icon
Corteva
CTVA
+$132M
2
GEN icon
Gen Digital
GEN
+$110M
3
IWN icon
iShares Russell 2000 Value ETF
IWN
+$38.7M
4
ACM icon
Aecom
ACM
+$24.8M
5
CVLT icon
Commault Systems
CVLT
+$19.5M

Sector Composition

Rank Sector Weight
1 Technology 35.32%
2 Healthcare 24.09%
3 Materials 11.33%
4 Industrials 9.57%
5 Financials 8.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FRXB
26
DELISTED
Forest Road Acquisition Corp. II
FRXB
$4.9M 0.1%
+500,000
New +$4.9M
FATH
27
DELISTED
Fathom Digital Manufacturing Corporation
FATH
$4.86M 0.1%
+25,000
New +$4.9M
TWCT
28
DELISTED
TWC Tech Holdings II Corp. Class A Common Stock
TWCT
$4.47M 0.09%
450,000
+144,951
+48% +$1.44M
MAAC
29
DELISTED
Montes Archimedes Acquisition Corp. Class A Common Stock
MAAC
$4.37M 0.09%
441,615
-100,000
-18% -$987K
ROSS
30
DELISTED
Ross Acquisition Corp II
ROSS
$4.37M 0.09%
+450,000
New +$4.38M
MACC
31
DELISTED
Mission Advancement Corp.
MACC
$3.88M 0.08%
+400,000
New +$3.9M
ACAH
32
DELISTED
Atlantic Coastal Acquisition Corp. Class A Common Stock
ACAH
$3.76M 0.07%
+389,440
New +$3.77M
PRPB
33
DELISTED
CC Neuberger Principal Holdings II Class A Ordinary Shares
PRPB
$3.72M 0.07%
376,060
+53,360
+17% +$529K
PDYN icon
34
Palladyne AI
PDYN
$302M
$3.64M 0.07%
+60,801
New +$3.62M
OPAD icon
35
Offerpad Solutions
OPAD
$19.9M
$3.54M 0.07%
+2,380
New +$3.55M
DGNU
36
DELISTED
Dragoneer Growth Opportunities Corp. III Class A Ordinary Shares
DGNU
$3.36M 0.07%
335,858
+100,300
+43% +$1.01M
VEEA
37
Veea Inc
VEEA
$8.76M
$3.31M 0.07%
+340,929
New +$3.34M
DKDCU
38
DELISTED
Data Knights Acquisition Corp. Unit
DKDCU
$3.1M 0.06%
+300,000
New +$3.05M
ZFOX
39
DELISTED
ZeroFox Holdings, Inc. Common Stock
ZFOX
$3.08M 0.06%
308,648
+25,333
+9% +$252K
BURU
40
DELISTED
NUBURU INC
BURU
$2.99M 0.06%
+1,503
New +$2.98M
QELL
41
DELISTED
Qell Acquisition Corp. Class A Ordinary Shares
QELL
$2.98M 0.06%
+300,000
New +$2.98M
NXDR
42
Nextdoor Holdings
NXDR
$925M
$2.98M 0.06%
300,000
– –
CPARU
43
DELISTED
Catalyst Partners Acquisition Corp. Unit
CPARU
$2.52M 0.05%
+250,000
New +$2.51M
EGGF.U
44
DELISTED
EG Acquisition Corp. Units, each consisting of one share of Class A common stock and one-third of one redeemable warrant
EGGF.U
$2.5M 0.05%
+250,000
New +$2.49M
RBOT
45
DELISTED
Vicarious Surgical
RBOT
$2.49M 0.05%
+8,333
New +$2.48M
AUS
46
DELISTED
Austerlitz Acquisition Corporation I
AUS
$2.48M 0.05%
+250,000
New +$2.48M
SPIR icon
47
Spire Global
SPIR
$566M
$2.44M 0.05%
+30,625
New +$2.43M
NEBC
48
DELISTED
Nebula Caravel Acquisition Corp. Class A Common Stock
NEBC
$2M 0.04%
+200,000
New +$1.99M
KSMT
49
DELISTED
Kismet Acquisition One Corp Ordinary Shares
KSMT
$1.98M 0.04%
+200,000
New +$1.98M
VCVC
50
DELISTED
10X Capital Venture Acquisition Corp
VCVC
$1.96M 0.04%
+196,800
New +$1.96M
1
2
3 4

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Jeffrey Smith's Q2 2021 Portfolio in Review

As of Q2 2021, Jeffrey Smith held 83 positions worth $5.09B, up 8.7% from $4.69B the previous quarter. Its ten largest holdings account for 70% of the portfolio.

Jeffrey Smith deployed $455M of net new capital in Q2 2021, opening 45 new positions and adding to 11 existing holdings. Its largest new stake was Papa John's: 3,459,360 shares worth $361M.

By sector, the portfolio is most concentrated in Technology at 35% of assets, down from 37% a quarter earlier, followed by Healthcare and Materials.

On the sell side, the largest reduction was Corteva, an estimated $132M trimmed.

  • Jeffrey Smith's largest Q2 2021 buy was Papa John's: 3,459,360 shares worth $361M.
  • Jeffrey Smith added most to Cerner Corp in Q2 2021, an estimated $71.2M increase.
  • Jeffrey Smith's biggest Q2 2021 reduction was Corteva, cutting an estimated $132M.
  • Jeffrey Smith fully exited Warburg Pincus Capital Corporation I-B Units, each consisting of one Class A ordinary share, and one-fifth of one redeemable warrant in Q2 2021, selling an estimated $8.48M.
  • Jeffrey Smith's ten largest holdings make up 70% of its $5.09B portfolio in Q2 2021.
  • Jeffrey Smith opened 45 new positions and closed 10 in Q2 2021.
  • Jeffrey Smith's portfolio value rose 8.7% quarter-over-quarter to $5.09B.

Based on Starboard Value's 13F filing for Q2 2021, filed 13 Aug 2021.