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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
-0.1%
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
$5.46B
AUM Growth
+$371M
Cap. Flow
+$479M
Cap. Flow %
8.77%
Top 10 Hldgs %
64.94%
Holding
96
New
23
Increased
13
Reduced
13
Closed
30

Top Buys

Rank Stock Value
1
HUN icon
Huntsman Corp
HUN
+$305M
2
IWM icon
iShares Russell 2000 ETF
IWM
+$204M
3
CYXT
Cyxtera Technologies, Inc. Class A Common Stock
CYXT
+$155M
4
EHTH icon
eHealth
EHTH
+$6.99M
5
DSAQ.U
Direct Selling Acquisition Corp. Units, each consisting of one share of Class A common stock and one-half of redeemable warrant
DSAQ.U
+$6.04M

Top Sells

Rank Stock Value
1
PZZA icon
Papa John's
PZZA
+$84.7M
2
MD icon
Pediatrix Medical
MD
+$77.2M
3
IWR icon
iShares Russell Mid-Cap ETF
IWR
+$37.2M
4
BOX icon
Box
BOX
+$19.6M
5
IWN icon
iShares Russell 2000 Value ETF
IWN
+$17.1M

Sector Composition

Rank Sector Weight
1 Technology 31.12%
2 Healthcare 20.47%
3 Materials 15.98%
4 Industrials 8.85%
5 Financials 7.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GIA.U
26
DELISTED
GigCapital 5, Inc. Units, each consisting of one share of common stock and one whole redeemable warrant
GIA.U
$5.65M 0.1%
+550,000
New +$5.62M
CENQU
27
DELISTED
CENAQ Energy Corp. Unit
CENQU
$5.03M 0.09%
+500,000
New +$4.99M
ZFOX
28
DELISTED
ZeroFox Holdings, Inc. Common Stock
ZFOX
$5M 0.09%
500,000
+191,352
+62% +$1.91M
AUS
29
DELISTED
Austerlitz Acquisition Corporation I
AUS
$4.97M 0.09%
500,000
+250,000
+100% +$2.48M
FATH
30
DELISTED
Fathom Digital Manufacturing Corporation
FATH
$4.92M 0.09%
25,000
– –
NXDR
31
Nextdoor Holdings
NXDR
$925M
$4.9M 0.09%
500,000
+200,000
+67% +$2.06M
FRXB
32
DELISTED
Forest Road Acquisition Corp. II
FRXB
$4.88M 0.09%
500,000
– –
IWM icon
33
PUT
iShares Russell 2000 ETF
IWM
$81.9B
$4.87M 0.09%
2,325,000
+325,000
+16% +$72M
SWBK
34
DELISTED
Switchback II Corporation
SWBK
$4.48M 0.08%
+450,000
New +$4.46M
BZFD icon
35
BuzzFeed
BZFD
$92.5M
$4.46M 0.08%
+112,500
New +$4.45M
DAVE icon
36
Dave Inc
DAVE
$4.52B
$4.46M 0.08%
+14,063
New +$4.46M
SST icon
37
System1
SST
$16.8M
$4.46M 0.08%
+45,000
New +$4.46M
ROSS
38
DELISTED
Ross Acquisition Corp II
ROSS
$4.36M 0.08%
450,000
– –
PRPB
39
DELISTED
CC Neuberger Principal Holdings II Class A Ordinary Shares
PRPB
$4.15M 0.08%
422,700
+46,640
+12% +$457K
BURU
40
DELISTED
NUBURU INC
BURU
$3.91M 0.07%
2,004
+501
+33% +$977K
MACC
41
DELISTED
Mission Advancement Corp.
MACC
$3.89M 0.07%
400,000
– –
ACAH
42
DELISTED
Atlantic Coastal Acquisition Corp. Class A Common Stock
ACAH
$3.88M 0.07%
400,000
+10,560
+3% +$102K
VEEA
43
Veea Inc
VEEA
$8.76M
$3.87M 0.07%
400,000
+59,071
+17% +$574K
TLSI icon
44
TriSalus Life Sciences
TLSI
$324M
$3.72M 0.07%
375,000
+225,000
+150% +$2.2M
FVT
45
DELISTED
Fortress Value Acquisition Corp. III
FVT
$3.41M 0.06%
350,000
+161,295
+85% +$1.58M
DGNU
46
DELISTED
Dragoneer Growth Opportunities Corp. III Class A Ordinary Shares
DGNU
$3.29M 0.06%
335,858
– –
ONMD icon
47
OneMedNet
ONMD
$35.6M
$3.17M 0.06%
+315,803
New +$3.15M
ARTEU
48
DELISTED
Artemis Strategic Investment Corporation Unit
ARTEU
$3.01M 0.06%
+300,000
New +$3.01M
BTTX
49
DELISTED
Better Therapeutics, Inc. Common Stock
BTTX
$2.99M 0.05%
+300,000
New +$2.98M
HCIC
50
DELISTED
Hennessy Capital Investment Corp. V Class A Common Stock
HCIC
$2.96M 0.05%
+300,000
New +$2.99M
1
2
3 4

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Jeffrey Smith's Q3 2021 Portfolio in Review

As of Q3 2021, Jeffrey Smith held 96 positions worth $5.46B, up 7.3% from $5.09B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Jeffrey Smith deployed $479M of net new capital in Q3 2021, opening 23 new positions and adding to 13 existing holdings. Its largest new stake was Huntsman Corp: 11,598,144 shares worth $343M.

By sector, the portfolio is most concentrated in Technology at 31% of assets, down from 35% a quarter earlier, followed by Healthcare and Materials.

On the sell side, the largest reduction was Papa John's, an estimated $84.7M trimmed.

  • Jeffrey Smith's largest Q3 2021 buy was Huntsman Corp: 11,598,144 shares worth $343M.
  • Jeffrey Smith added most to iShares Russell 2000 ETF in Q3 2021, an estimated $204M increase.
  • Jeffrey Smith's biggest Q3 2021 reduction was Papa John's, cutting an estimated $84.7M.
  • Jeffrey Smith fully exited iShares Russell 2000 Value ETF in Q3 2021, selling an estimated $17.1M.
  • Jeffrey Smith's ten largest holdings make up 65% of its $5.46B portfolio in Q3 2021.
  • Jeffrey Smith opened 23 new positions and closed 30 in Q3 2021.
  • Jeffrey Smith's portfolio value rose 7.3% quarter-over-quarter to $5.46B.

Based on Starboard Value's 13F filing for Q3 2021, filed 12 Nov 2021.