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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
+12.23%
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
$7.22B
AUM Growth
+$1.75B
Cap. Flow
+$972M
Cap. Flow %
13.47%
Top 10 Hldgs %
64.17%
Holding
162
New
96
Increased
6
Reduced
25
Closed
26

Top Buys

Rank Stock Value
1
WTW icon
Willis Towers Watson
WTW
+$497M
2
GDDY icon
GoDaddy
GDDY
+$486M
3
HUN icon
Huntsman Corp
HUN
+$210M
4
ENOV icon
Enovis
ENOV
+$190M
5
CVLT icon
Commault Systems
CVLT
+$14.3M

Top Sells

Rank Stock Value
1
BOX icon
Box
BOX
+$289M
2
MMSI icon
Merit Medical Systems
MMSI
+$150M
3
ON icon
ON Semiconductor
ON
+$43.6M
4
IWM icon
iShares Russell 2000 ETF
IWM
+$25.7M
5
CTVA icon
Corteva
CTVA
+$13.3M

Sector Composition

Rank Sector Weight
1 Technology 29.76%
2 Materials 17.41%
3 Healthcare 16.65%
4 Financials 12.62%
5 Industrials 8.14%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EVE.U
51
DELISTED
EVe Mobility Acquisition Corp Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant
EVE.U
$5M 0.07%
+500,000
New +$5M
HAIAU
52
DELISTED
Healthcare AI Acquisition Corp. Unit
HAIAU
$5M 0.07%
+500,000
New +$5M
SCUA.U
53
DELISTED
Sculptor Acquisition Corp I Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant
SCUA.U
$5M 0.07%
+500,000
New +$5.02M
HORIU
54
DELISTED
Emerging Markets Horizon Corp. Unit
HORIU
$5M 0.07%
+500,000
New +$5.02M
PORT.U
55
DELISTED
Southport Acquisition Corporation Units, each consisting of one share of Class A common stock, and one-half of one warrant
PORT.U
$5M 0.07%
+500,000
New +$5M
PRLHU
56
DELISTED
Pearl Holdings Acquisition Corp Unit
PRLHU
$5M 0.07%
+500,000
New +$4.99M
BFAC.U
57
DELISTED
Battery Future Acquisition Corp. Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant
BFAC.U
$5M 0.07%
+500,000
New +$5.01M
THAC
58
DELISTED
Thrive Acquisition Corporation Class A ordinary shares
THAC
$5M 0.07%
+506,000
New +$5M
FRLA
59
DELISTED
Fortune Rise Acquisition Corporation Class A Common Stock
FRLA
$4.93M 0.07%
+496,086
New +$4.93M
VSAC
60
DELISTED
Vision Sensing Acquisition Corp. Class A Common Stock
VSAC
$4.92M 0.07%
+496,134
New +$4.91M
LGSTU
61
DELISTED
Semper Paratus Acquisition Corporation Unit
LGSTU
$4.84M 0.07%
+481,000
New +$4.86M
JUN
62
DELISTED
Juniper II Corp.
JUN
$4.83M 0.07%
+481,000
New +$4.75M
OLITU
63
DELISTED
OmniLit Acquisition Corp. Units
OLITU
$4.83M 0.07%
+481,000
New +$4.84M
ZFOX
64
DELISTED
ZeroFox Holdings, Inc. Common Stock
ZFOX
$4.79M 0.07%
477,782
-22,218
-4% -$223K
AUS
65
DELISTED
Austerlitz Acquisition Corporation I
AUS
$4.79M 0.07%
493,352
-6,648
-1% -$65.7K
CMCAU
66
DELISTED
Capitalworks Emerging Markets Acquisition Corp Unit
CMCAU
$4.78M 0.07%
+474,921
New +$4.78M
VGAS icon
67
Verde Clean Fuels
VGAS
$27.1M
$4.76M 0.07%
+480,000
New +$4.75M
SPAQ
68
DELISTED
Spartan Acquisition Corp. III
SPAQ
$4.76M 0.07%
+482,501
New +$4.79M
AVHI
69
DELISTED
Achari Ventures Holdings Corp I
AVHI
$4.75M 0.07%
+481,000
New +$4.74M
TOACU
70
DELISTED
Talon 1 Acquisition Corp. Unit
TOACU
$4.71M 0.07%
+466,608
New +$4.73M
KVSC
71
DELISTED
Khosla Ventures Acquisition Co. III Class A Common Stock
KVSC
$4.65M 0.06%
+476,350
New +$4.7M
FRXB
72
DELISTED
Forest Road Acquisition Corp. II
FRXB
$4.64M 0.06%
476,500
-23,500
-5% -$229K
WEL.U
73
DELISTED
Integrated Wellness Acquisition Corp Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant
WEL.U
$4.54M 0.06%
+450,000
New +$4.53M
GMFIU
74
DELISTED
Aetherium Acquisition Corp Unit
GMFIU
$4.5M 0.06%
+450,000
New +$4.5M
IFIN.U
75
DELISTED
InFinT Acquisition Corporation Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant
IFIN.U
$4.42M 0.06%
+441,174
New +$4.44M
1 2
3
4 5

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Jeffrey Smith's Q4 2021 Portfolio in Review

As of Q4 2021, Jeffrey Smith held 162 positions worth $7.22B, up 32% from $5.46B the previous quarter. Its ten largest holdings account for 64% of the portfolio.

Jeffrey Smith deployed $972M of net new capital in Q4 2021, opening 96 new positions and adding to 6 existing holdings. Its largest new stake was Willis Towers Watson: 2,100,894 shares worth $499M.

By sector, the portfolio is most concentrated in Technology at 30% of assets, down from 31% a quarter earlier, followed by Materials and Healthcare.

On the sell side, the largest reduction was Merit Medical Systems, an estimated $150M trimmed.

  • Jeffrey Smith's largest Q4 2021 buy was Willis Towers Watson: 2,100,894 shares worth $499M.
  • Jeffrey Smith added most to Huntsman Corp in Q4 2021, an estimated $210M increase.
  • Jeffrey Smith's biggest Q4 2021 reduction was Merit Medical Systems, cutting an estimated $150M.
  • Jeffrey Smith fully exited Box in Q4 2021, selling an estimated $289M.
  • Jeffrey Smith's ten largest holdings make up 64% of its $7.22B portfolio in Q4 2021.
  • Jeffrey Smith opened 96 new positions and closed 26 in Q4 2021.
  • Jeffrey Smith's portfolio value rose 32% quarter-over-quarter to $7.22B.

Based on Starboard Value's 13F filing for Q4 2021, filed 14 Feb 2022.