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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
-11.43%
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
$5.5B
AUM Growth
-$2.04B
Cap. Flow
-$1B
Cap. Flow %
-18.22%
Top 10 Hldgs %
65.45%
Holding
197
New
27
Increased
8
Reduced
13
Closed
14

Top Buys

Rank Stock Value
1
GEN icon
Gen Digital
GEN
+$61.5M
2
WTW icon
Willis Towers Watson
WTW
+$22.4M
3
MRCY icon
Mercury Systems
MRCY
+$21.4M
4
LPSN icon
LivePerson
LPSN
+$11.3M
5
GDDY icon
GoDaddy
GDDY
+$9.61M

Top Sells

Rank Stock Value
1
CTVA icon
Corteva
CTVA
+$289M
2
HUN icon
Huntsman Corp
HUN
+$277M
3
CERN
Cerner Corp
CERN
+$211M
4
IWM icon
iShares Russell 2000 ETF
IWM
+$184M
5
KSS icon
Kohl's
KSS
+$137M

Sector Composition

Rank Sector Weight
1 Technology 32.68%
2 Financials 18.93%
3 Healthcare 14.95%
4 Industrials 13.46%
5 Materials 9.2%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KNSW
26
DELISTED
KnightSwan Acquisition Corporation
KNSW
$7.51M 0.14%
750,000
– –
TGR
27
DELISTED
Kimbell Tiger Acquisition Corporation
TGR
$7.51M 0.14%
750,000
– –
PPYA
28
DELISTED
Papaya Growth Opportunity Corp. I Class A Common Stock
PPYA
$7.49M 0.14%
750,000
– –
ABP
29
DELISTED
Abpro Holdings
ABP
$7.49M 0.14%
25,000
– –
PNST
30
DELISTED
Pinstripes Holdings, Inc.
PNST
$7.47M 0.14%
750,000
– –
IVCA
31
DELISTED
Investcorp India Acquisition Corp
IVCA
$7.46M 0.14%
+750,000
New +$7.46M
ALCE
32
DELISTED
Alternus Clean Energy Inc
ALCE
$7.41M 0.13%
+30,000
New +$7.38M
ASCB
33
DELISTED
A SPAC II Acquisition Corp. Ordinary Shares
ASCB
$7.38M 0.13%
+750,000
New +$7.38M
FZT
34
DELISTED
FAST Acquisition Corp. II
FZT
$7.32M 0.13%
+750,000
New +$7.33M
VSEE
35
DELISTED
VSEE HEALTH INC
VSEE
$6.77M 0.12%
675,000
+57,781
+9% +$579K
ONYX
36
DELISTED
Onyx Acquisition Co. I Class A Ordinary Shares
ONYX
$6.73M 0.12%
672,800
– –
WPCB
37
DELISTED
Warburg Pincus Capital Corporation I-B
WPCB
$6.63M 0.12%
676,820
– –
BZAI
38
Blaize Holdings
BZAI
$69.3M
$6.55M 0.12%
661,307
– –
OEF icon
39
PUT
iShares S&P 100 ETF
OEF
$20.3B
$6.51M 0.12%
2,270,000
+820,000
+57% +$153M
RNER
40
DELISTED
Mount Rainier Acquisition Corp. Common Stock
RNER
$6.42M 0.12%
637,964
– –
MLAI
41
DELISTED
McLaren Technology Acquisition Corp. Class A Common Stock
MLAI
$6.42M 0.12%
640,936
– –
AVAC
42
DELISTED
Avalon Acquisition Inc. Class A Common Stock
AVAC
$6.4M 0.12%
640,549
– –
SHCA
43
DELISTED
Spindletop Health Acquisition Corp. Class A Common Stock
SHCA
$6.37M 0.12%
636,861
– –
CSLM
44
DELISTED
CSLM Acquisition Corp. Class A Ordinary Share
CSLM
$6.25M 0.11%
639,252
– –
BIOS
45
DELISTED
BioPlus Acquisition Corp. Class A Ordinary Shares
BIOS
$6.13M 0.11%
617,220
– –
BPAC
46
DELISTED
Bullpen Parlay Acquisition Company Class A Ordinary Share
BPAC
$6.12M 0.11%
617,219
– –
FLD
47
Fold Holdings
FLD
$27.3M
$6.06M 0.11%
+620,000
New +$6.07M
AXH
48
DELISTED
Industrial Human Capital, Inc.
AXH
$5.96M 0.11%
594,636
– –
SZZL
49
DELISTED
Sizzle Acquisition Corp. Common stock
SZZL
$5.96M 0.11%
596,848
– –
MSSA
50
DELISTED
Metal Sky Star Acquisition Corporation Ordinary shares
MSSA
$5.93M 0.11%
+600,000
New +$5.9M
1
2
3 4 5

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Jeffrey Smith's Q2 2022 Portfolio in Review

As of Q2 2022, Jeffrey Smith held 197 positions worth $5.5B, down 27% from $7.54B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Jeffrey Smith withdrew a net $1B in Q2 2022, closing 14 positions and reducing 13 holdings. Its most notable exit was Cerner Corp, an estimated $211M position sold in full.

By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 29% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Jeffrey Smith opened a new position in Investcorp India Acquisition Corp worth $7.46M.

  • Jeffrey Smith's largest Q2 2022 buy was Investcorp India Acquisition Corp: 750,000 shares worth $7.46M.
  • Jeffrey Smith added most to Gen Digital in Q2 2022, an estimated $61.5M increase.
  • Jeffrey Smith's biggest Q2 2022 reduction was Corteva, cutting an estimated $289M.
  • Jeffrey Smith fully exited Cerner Corp in Q2 2022, selling an estimated $211M.
  • Jeffrey Smith's ten largest holdings make up 65% of its $5.5B portfolio in Q2 2022.
  • Jeffrey Smith opened 27 new positions and closed 14 in Q2 2022.
  • Jeffrey Smith's portfolio value fell 27% quarter-over-quarter to $5.5B.

Based on Starboard Value's 13F filing for Q2 2022, filed 12 Aug 2022.