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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
-1.65%
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
$7.54B
AUM Growth
+$327M
Cap. Flow
+$786M
Cap. Flow %
10.42%
Top 10 Hldgs %
60.25%
Holding
226
New
90
Increased
8
Reduced
66
Closed
56

Top Buys

Rank Stock Value
1
HUM icon
Humana
HUM
+$405M
2
MRCY icon
Mercury Systems
MRCY
+$213M
3
KSS icon
Kohl's
KSS
+$188M
4
LPSN icon
LivePerson
LPSN
+$173M
5
GDDY icon
GoDaddy
GDDY
+$115M

Top Sells

Rank Stock Value
1
MGLN
Magellan Health Services, Inc.
MGLN
+$225M
2
CTVA icon
Corteva
CTVA
+$148M
3
CERN
Cerner Corp
CERN
+$108M
4
ACIW icon
ACI Worldwide
ACIW
+$91.6M
5
ON icon
ON Semiconductor
ON
+$57.9M

Sector Composition

Rank Sector Weight
1 Technology 29.09%
2 Healthcare 16.23%
3 Materials 15.65%
4 Financials 13.94%
5 Industrials 10.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IRRX
26
DELISTED
Integrated Rail and Resources Acquisition Corp.
IRRX
$9.33M 0.12%
+937,845
New +$9.27M
CLINU
27
DELISTED
Clean Earth Acquisitions Corp. Unit
CLINU
$7.53M 0.1%
+750,000
New +$7.51M
TGR
28
DELISTED
Kimbell Tiger Acquisition Corporation
TGR
$7.52M 0.1%
+750,000
New +$7.51M
HCMA
29
DELISTED
HCM Acquisition Corp Class A Ordinary Shares
HCMA
$7.48M 0.1%
+750,000
New +$7.44M
PNST
30
DELISTED
Pinstripes Holdings, Inc.
PNST
$7.45M 0.1%
+750,000
New +$7.44M
PPYA
31
DELISTED
Papaya Growth Opportunity Corp. I Class A Common Stock
PPYA
$7.45M 0.1%
+750,000
New +$7.43M
KNSW
32
DELISTED
KnightSwan Acquisition Corporation
KNSW
$7.45M 0.1%
+750,000
New +$7.45M
ABP
33
DELISTED
Abpro Holdings
ABP
$7.44M 0.1%
+25,000
New +$7.43M
ONYX
34
DELISTED
Onyx Acquisition Co. I Class A Ordinary Shares
ONYX
$6.71M 0.09%
672,800
-96,800
-13% -$962K
WPCB
35
DELISTED
Warburg Pincus Capital Corporation I-B
WPCB
$6.65M 0.09%
676,820
-130,452
-16% -$1.27M
BZAI
36
Blaize Holdings
BZAI
$69.3M
$6.54M 0.09%
+661,307
New +$6.52M
MLAI
37
DELISTED
McLaren Technology Acquisition Corp. Class A Common Stock
MLAI
$6.39M 0.08%
640,936
-90,064
-12% -$895K
AVAC
38
DELISTED
Avalon Acquisition Inc. Class A Common Stock
AVAC
$6.38M 0.08%
640,549
-90,451
-12% -$896K
RNER
39
DELISTED
Mount Rainier Acquisition Corp. Common Stock
RNER
$6.37M 0.08%
+637,964
New +$6.34M
SHCA
40
DELISTED
Spindletop Health Acquisition Corp. Class A Common Stock
SHCA
$6.34M 0.08%
636,861
-90,339
-12% -$897K
CSLM
41
DELISTED
CSLM Acquisition Corp. Class A Ordinary Share
CSLM
$6.24M 0.08%
+639,252
New +$6.23M
VSEE
42
DELISTED
VSEE HEALTH INC
VSEE
$6.17M 0.08%
+617,219
New +$6.14M
BIOS
43
DELISTED
BioPlus Acquisition Corp. Class A Ordinary Shares
BIOS
$6.1M 0.08%
+617,220
New +$6.09M
BPAC
44
DELISTED
Bullpen Parlay Acquisition Company Class A Ordinary Share
BPAC
$6.09M 0.08%
+617,219
New +$6.09M
AXH
45
DELISTED
Industrial Human Capital, Inc.
AXH
$5.96M 0.08%
594,636
-84,423
-12% -$840K
SZZL
46
DELISTED
Sizzle Acquisition Corp. Common stock
SZZL
$5.94M 0.08%
+596,848
New +$5.93M
ROSE
47
DELISTED
Rose Hill Acquisition Corporation Class A Ordinary Shares
ROSE
$5.89M 0.08%
588,318
-85,083
-13% -$848K
LATG
48
DELISTED
Chenghe Acquisition I Co. Class A Ordinary Shares
LATG
$5.48M 0.07%
+550,000
New +$5.47M
CITE
49
DELISTED
Cartica Acquisition Corp Class A Ordinary Shares
CITE
$5.39M 0.07%
+539,252
New +$5.37M
NCAC
50
DELISTED
Newcourt Acquisition Corp Class A Ordinary Share
NCAC
$5.17M 0.07%
516,222
-72,378
-12% -$720K
1
2
3 4 5

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Jeffrey Smith's Q1 2022 Portfolio in Review

As of Q1 2022, Jeffrey Smith held 226 positions worth $7.54B, up 4.5% from $7.22B the previous quarter. Its ten largest holdings account for 60% of the portfolio.

Jeffrey Smith deployed $786M of net new capital in Q1 2022, opening 90 new positions and adding to 8 existing holdings. Its largest new stake was Humana: 968,200 shares worth $421M.

By sector, the portfolio is most concentrated in Technology at 29% of assets, down from 30% a quarter earlier, followed by Healthcare and Materials.

On the sell side, the largest reduction was Corteva, an estimated $148M trimmed.

  • Jeffrey Smith's largest Q1 2022 buy was Humana: 968,200 shares worth $421M.
  • Jeffrey Smith added most to GoDaddy in Q1 2022, an estimated $115M increase.
  • Jeffrey Smith's biggest Q1 2022 reduction was Corteva, cutting an estimated $148M.
  • Jeffrey Smith fully exited Magellan Health Services, Inc. in Q1 2022, selling an estimated $225M.
  • Jeffrey Smith's ten largest holdings make up 60% of its $7.54B portfolio in Q1 2022.
  • Jeffrey Smith opened 90 new positions and closed 56 in Q1 2022.
  • Jeffrey Smith's portfolio value rose 4.5% quarter-over-quarter to $7.54B.

Based on Starboard Value's 13F filing for Q1 2022, filed 13 May 2022.