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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
-3.71%
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
$4.55B
AUM Growth
-$954M
Cap. Flow
-$946M
Cap. Flow %
-20.81%
Top 10 Hldgs %
71.53%
Holding
188
New
5
Increased
3
Reduced
11
Closed
11

Top Buys

Rank Stock Value
1
WIX icon
WIX.com
WIX
+$177M
2
IWN icon
iShares Russell 2000 Value ETF
IWN
+$86.7M
3
BOAS
BOA Acquisition Corp.
BOAS
+$4.27M
4
CNTM
ConnectM Technology Solutions, Inc. Common Stock
CNTM
+$3.7M
5
ACAC
Acri Capital Acquisition Corp
ACAC
+$3M

Top Sells

Rank Stock Value
1
GCP
GCP Applied Technologies Inc.
GCP
+$205M
2
ON icon
ON Semiconductor
ON
+$204M
3
ELAN icon
Elanco Animal Health
ELAN
+$113M
4
ACIW icon
ACI Worldwide
ACIW
+$99.2M
5
HUN icon
Huntsman Corp
HUN
+$89.4M

Sector Composition

Rank Sector Weight
1 Technology 36.35%
2 Financials 22.27%
3 Industrials 14.46%
4 Healthcare 14.02%
5 Consumer Discretionary 4.51%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KNSW
26
DELISTED
KnightSwan Acquisition Corporation
KNSW
$7.52M 0.17%
750,000
– –
ABP
27
DELISTED
Abpro Holdings
ABP
$7.51M 0.17%
25,000
– –
PNST
28
DELISTED
Pinstripes Holdings, Inc.
PNST
$7.49M 0.16%
750,000
– –
ASCB
29
DELISTED
A SPAC II Acquisition Corp. Ordinary Shares
ASCB
$7.46M 0.16%
750,000
– –
ALCE
30
DELISTED
Alternus Clean Energy Inc
ALCE
$7.41M 0.16%
30,000
– –
FZT
31
DELISTED
FAST Acquisition Corp. II
FZT
$7.36M 0.16%
750,000
– –
VSEE
32
DELISTED
VSEE HEALTH INC
VSEE
$6.84M 0.15%
675,000
– –
ONYX
33
DELISTED
Onyx Acquisition Co. I Class A Ordinary Shares
ONYX
$6.81M 0.15%
672,800
– –
WPCB
34
DELISTED
Warburg Pincus Capital Corporation I-B
WPCB
$6.71M 0.15%
676,820
– –
BZAI
35
Blaize Holdings
BZAI
$69.3M
$6.62M 0.15%
661,307
– –
RNER
36
DELISTED
Mount Rainier Acquisition Corp. Common Stock
RNER
$6.44M 0.14%
637,964
– –
AVAC
37
DELISTED
Avalon Acquisition Inc. Class A Common Stock
AVAC
$6.44M 0.14%
640,549
– –
MLAI
38
DELISTED
McLaren Technology Acquisition Corp. Class A Common Stock
MLAI
$6.42M 0.14%
640,936
– –
SHCA
39
DELISTED
Spindletop Health Acquisition Corp. Class A Common Stock
SHCA
$6.41M 0.14%
636,861
– –
CSLM
40
DELISTED
CSLM Acquisition Corp. Class A Ordinary Share
CSLM
$6.33M 0.14%
639,252
– –
BPAC
41
DELISTED
Bullpen Parlay Acquisition Company Class A Ordinary Share
BPAC
$6.22M 0.14%
617,219
– –
BIOS
42
DELISTED
BioPlus Acquisition Corp. Class A Ordinary Shares
BIOS
$6.2M 0.14%
617,220
– –
ACAH
43
DELISTED
Atlantic Coastal Acquisition Corp. Class A Common Stock
ACAH
$6.11M 0.13%
622,243
+300,000
+93% +$2.94M
FLD
44
Fold Holdings
FLD
$27.3M
$6.08M 0.13%
620,000
– –
AXH
45
DELISTED
Industrial Human Capital, Inc.
AXH
$6.04M 0.13%
594,636
– –
SZZL
46
DELISTED
Sizzle Acquisition Corp. Common stock
SZZL
$6.01M 0.13%
596,848
– –
ROSE
47
DELISTED
Rose Hill Acquisition Corporation Class A Ordinary Shares
ROSE
$5.97M 0.13%
588,318
– –
MSSA
48
DELISTED
Metal Sky Star Acquisition Corporation Ordinary shares
MSSA
$5.97M 0.13%
600,000
– –
GBBK
49
DELISTED
Global Blockchain Acquisition Corp. Common Stock
GBBK
$5.92M 0.13%
600,000
– –
LATG
50
DELISTED
Chenghe Acquisition I Co. Class A Ordinary Shares
LATG
$5.55M 0.12%
550,000
– –
1
2
3 4 5

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Jeffrey Smith's Q3 2022 Portfolio in Review

As of Q3 2022, Jeffrey Smith held 188 positions worth $4.55B, down 17% from $5.5B the previous quarter. Its ten largest holdings account for 72% of the portfolio.

Jeffrey Smith withdrew a net $946M in Q3 2022, closing 11 positions and reducing 11 holdings. Its most notable exit was GCP Applied Technologies Inc., an estimated $205M position sold in full.

By sector, the portfolio is most concentrated in Technology at 36% of assets, up from 33% a quarter earlier, followed by Financials and Industrials.

Against the trend, Jeffrey Smith opened a new position in WIX.com worth $201M.

  • Jeffrey Smith's largest Q3 2022 buy was WIX.com: 2,567,966 shares worth $201M.
  • Jeffrey Smith added most to Atlantic Coastal Acquisition Corp. Class A Common Stock in Q3 2022, an estimated $2.94M increase.
  • Jeffrey Smith's biggest Q3 2022 reduction was ON Semiconductor, cutting an estimated $204M.
  • Jeffrey Smith fully exited GCP Applied Technologies Inc. in Q3 2022, selling an estimated $205M.
  • Jeffrey Smith's ten largest holdings make up 72% of its $4.55B portfolio in Q3 2022.
  • Jeffrey Smith opened 5 new positions and closed 11 in Q3 2022.
  • Jeffrey Smith's portfolio value fell 17% quarter-over-quarter to $4.55B.

Based on Starboard Value's 13F filing for Q3 2022, filed 14 Nov 2022.