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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
ROSE
51
DELISTED
Rose Hill Acquisition Corporation Class A Ordinary Shares
ROSE
$5.91M 0.11%
588,318
– –
GBBK
52
DELISTED
Global Blockchain Acquisition Corp. Common Stock
GBBK
$5.9M 0.11%
+600,000
New +$5.88M
LATG
53
DELISTED
Chenghe Acquisition I Co. Class A Ordinary Shares
LATG
$5.5M 0.1%
550,000
– –
JOFF
54
DELISTED
JOFF Fintech Acquisition Corp. Class A Common Stock
JOFF
$5.43M 0.1%
+552,000
New +$5.41M
CITE
55
DELISTED
Cartica Acquisition Corp Class A Ordinary Shares
CITE
$5.4M 0.1%
539,252
– –
NCAC
56
DELISTED
Newcourt Acquisition Corp Class A Ordinary Share
NCAC
$5.18M 0.09%
516,222
– –
CREC
57
DELISTED
Crescera Capital Acquisition Corp Class A Ordinary Shares
CREC
$5.09M 0.09%
512,748
– –
RDZN icon
58
Roadzen
RDZN
$132M
$5.08M 0.09%
509,330
– –
ACAQ
59
DELISTED
Athena Consumer Acquisition Corp.
ACAQ
$5.06M 0.09%
505,276
– –
GTI
60
DELISTED
Graphjet Technology
GTI
$5.04M 0.09%
8,366
– –
DGNU
61
DELISTED
Dragoneer Growth Opportunities Corp. III Class A Ordinary Shares
DGNU
$5.02M 0.09%
516,010
+250,000
+94% +$2.44M
SPCM
62
DELISTED
Sound Point Acquisition Corp I, Ltd Class A Ordinary Share
SPCM
$5.02M 0.09%
+500,000
New +$5.01M
CURR
63
Currenc Group
CURR
$394M
$5.01M 0.09%
500,000
– –
IVCB
64
DELISTED
Investcorp Europe Acquisition Corp I Class A Ordinary Shares
IVCB
$5.01M 0.09%
500,000
– –
VMCA
65
DELISTED
Valuence Merger Corp. I Class A Ordinary Shares
VMCA
$5M 0.09%
+500,000
New +$5.01M
DSAQ
66
DELISTED
Direct Selling Acquisition Corp.
DSAQ
$5M 0.09%
499,200
– –
STI icon
67
Solidion Technology
STI
$65M
$4.98M 0.09%
+10,000
New +$4.98M
HMA
68
DELISTED
Heartland Media Acquisition Corp.
HMA
$4.97M 0.09%
500,000
– –
JGGC
69
DELISTED
Jaguar Global Growth Corporation I Class A Ordinary Shares
JGGC
$4.97M 0.09%
+500,000
New +$4.94M
ARTE
70
DELISTED
Artemis Strategic Investment Corporation Class A Common Stock
ARTE
$4.97M 0.09%
500,000
– –
LIBY
71
DELISTED
Liberty Resources Acquisition Corp. Class A Common Stock
LIBY
$4.97M 0.09%
498,406
– –
AGCB
72
DELISTED
Altimeter Growth Corp 2
AGCB
$4.93M 0.09%
500,000
– –
OHPA
73
DELISTED
Orion Acquisition Corp. Class A common stock
OHPA
$4.9M 0.09%
500,000
– –
LGV
74
DELISTED
Longview Acquisition Corp. II
LGV
$4.88M 0.09%
500,000
– –
GOGN
75
DELISTED
GoGreen Investments Corporation
GOGN
$4.81M 0.09%
480,069
– –
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.