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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
CPAR
51
DELISTED
Catalyst Partners Acquisition Corp. Class A Ordinary Share
CPAR
$2.43M 0.04%
+250,000
New +$2.43M
FLYX icon
52
flyExclusive
FLYX
$134M
$2.43M 0.04%
+250,000
New +$2.42M
FLYA.U
53
DELISTED
SOAR Technology Acquisition Corp. Units, each consisting of one Class A ordinary share and one-third of one redeemable warrant
FLYA.U
$1.98M 0.04%
+194,700
New +$1.98M
IWR icon
54
iShares Russell Mid-Cap ETF
IWR
$57.7B
$1.96M 0.04%
25,000
-465,000
-95% -$37.2M
PRBM.U
55
DELISTED
Parabellum Acquisition Corp. Units, each consisting of one share of Class A common stock and three-quarters of one redeemable warrant
PRBM.U
$1.5M 0.03%
+150,000
New +$1.5M
DDMX
56
DELISTED
DD3 Acquisition Corp. II Class A Common Stock
DDMX
$1.47M 0.03%
+148,682
New +$1.48M
TCVA
57
DELISTED
TCV Acquisition Corp. Class A Ordinary Shares
TCVA
$1.47M 0.03%
150,000
– –
CIIGU
58
DELISTED
CIIG Capital Partners II, Inc. Unit
CIIGU
$1.04M 0.02%
+103,504
New +$1.04M
OKLO
59
Oklo
OKLO
$7.83B
$983K 0.02%
+100,000
New +$987K
ROSS.WS
60
CALL
DELISTED
Ross Acquisition Corp II Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share
ROSS.WS
$88K ﹤0.01%
99,157
-843
-0.8% -$771
ONMDW icon
61
CALL
OneMedNet Corp Warrant
ONMDW
$876K
$68K ﹤0.01%
+174,766
New +$86.5K
FRXB.WS
62
CALL
DELISTED
Forest Road Acquisition Corp. II Redeemable Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50
FRXB.WS
$65K ﹤0.01%
75,000
-25,000
-25% -$27.4K
MACC.WS
63
CALL
DELISTED
Mission Advancement Corp. Redeemable Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50
MACC.WS
$44K ﹤0.01%
75,000
-41,665
-36% -$29.1K
FLYX.WS icon
64
CALL
flyExclusive Inc Warrants
FLYX.WS
$35K ﹤0.01%
+59,654
New +$46.6K
ACAHW
65
CALL
DELISTED
Atlantic Coastal Acquisition Corp. Warrant
ACAHW
$35K ﹤0.01%
64,150
-2,515
-4% -$2.1K
CPARW
66
CALL
DELISTED
Catalyst Partners Acquisition Corp. Warrant
CPARW
$23K ﹤0.01%
+27,526
New +$32.9K
BKSY icon
67
BlackSky Technology
BKSY
$1.14B
– –
-16,816
Closed -$1.34M
CCC
68
CCC Intelligent Solutions
CCC
$4.39B
– –
-48,135
Closed -$479K
IWN icon
69
iShares Russell 2000 Value ETF
IWN
$14.6B
– –
-103,000
Closed -$17.1M
JOBY icon
70
Joby Aviation
JOBY
$7.45B
– –
-31,600
Closed -$315K
NRDY icon
71
Nerdy
NRDY
$89.8M
– –
-6,667
Closed -$993K
OPAD icon
72
Offerpad Solutions
OPAD
$19.9M
– –
-2,380
Closed -$3.54M
RBOT
73
DELISTED
Vicarious Surgical
RBOT
– –
-8,333
Closed -$2.49M
RSVR
74
Reservoir Media
RSVR
$652M
– –
-100,000
Closed -$993K
SPIR icon
75
Spire Global
SPIR
$566M
– –
-30,625
Closed -$2.44M
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.