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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
+9.3%
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
$5.22B
AUM Growth
+$671M
Cap. Flow
+$477M
Cap. Flow %
9.13%
Top 10 Hldgs %
73.53%
Holding
183
New
6
Increased
4
Reduced
8
Closed
35

Top Buys

Rank Stock Value
1
CRM icon
Salesforce
CRM
+$442M
2
VRT icon
Vertiv
VRT
+$225M
3
SPLK
Splunk Inc
SPLK
+$151M
4
GDDY icon
GoDaddy
GDDY
+$148M
5
IWN icon
iShares Russell 2000 Value ETF
IWN
+$42.4M

Top Sells

Rank Stock Value
1
CVLT icon
Commault Systems
CVLT
+$131M
2
HUN icon
Huntsman Corp
HUN
+$126M
3
ON icon
ON Semiconductor
ON
+$99.8M
4
HUM icon
Humana
HUM
+$93.6M
5
WTW icon
Willis Towers Watson
WTW
+$70.1M

Sector Composition

Rank Sector Weight
1 Technology 41.73%
2 Industrials 19.95%
3 Financials 18.07%
4 Healthcare 10%
5 Consumer Discretionary 4.58%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CREC
51
DELISTED
Crescera Capital Acquisition Corp Class A Ordinary Shares
CREC
$5.24M 0.1%
512,748
– –
RDZN icon
52
Roadzen
RDZN
$132M
$5.22M 0.1%
509,330
– –
CURR
53
Currenc Group
CURR
$394M
$5.18M 0.1%
500,000
– –
VMCA
54
DELISTED
Valuence Merger Corp. I Class A Ordinary Shares
VMCA
$5.17M 0.1%
500,000
– –
SPCM
55
DELISTED
Sound Point Acquisition Corp I, Ltd Class A Ordinary Share
SPCM
$5.16M 0.1%
500,000
– –
IVCB
56
DELISTED
Investcorp Europe Acquisition Corp I Class A Ordinary Shares
IVCB
$5.15M 0.1%
500,000
– –
DSAQ
57
DELISTED
Direct Selling Acquisition Corp.
DSAQ
$5.14M 0.1%
499,200
– –
JGGC
58
DELISTED
Jaguar Global Growth Corporation I Class A Ordinary Shares
JGGC
$5.11M 0.1%
500,000
– –
ARTE
59
DELISTED
Artemis Strategic Investment Corporation Class A Common Stock
ARTE
$5.11M 0.1%
500,000
– –
LIBY
60
DELISTED
Liberty Resources Acquisition Corp. Class A Common Stock
LIBY
$5.09M 0.1%
498,406
– –
DGNU
61
DELISTED
Dragoneer Growth Opportunities Corp. III Class A Ordinary Shares
DGNU
$5.09M 0.1%
516,010
– –
HMA
62
DELISTED
Heartland Media Acquisition Corp.
HMA
$5.08M 0.1%
500,000
– –
STI icon
63
Solidion Technology
STI
$65M
$5.08M 0.1%
10,000
– –
GOGN
64
DELISTED
GoGreen Investments Corporation
GOGN
$4.98M 0.1%
480,069
– –
EVGR
65
DELISTED
Evergreen Corporation Class A Ordinary Share
EVGR
$4.88M 0.09%
475,000
– –
SLAM
66
DELISTED
Slam Corp. Class A Ordinary Share
SLAM
$4.85M 0.09%
480,199
– –
LEGA
67
DELISTED
Lead Edge Growth Opportunities, Ltd Class A Ordinary Shares
LEGA
$4.84M 0.09%
480,650
– –
GMFI
68
DELISTED
Aetherium Acquisition Corp
GMFI
$4.71M 0.09%
462,651
– –
TETE
69
DELISTED
Technology & Telecommunication Acquisition Corporation Class A Ordinary Shares
TETE
$4.7M 0.09%
456,220
– –
SHUA
70
DELISTED
SHUAA Partners Acquisition Corp I Class A Ordinary Share
SHUA
$4.66M 0.09%
450,000
– –
FTII
71
DELISTED
FutureTech II Acquisition Corp. Class A Common Stock
FTII
$4.61M 0.09%
450,000
– –
GGAA
72
DELISTED
Genesis Growth Tech Acquisition Corp. Class A Ordinary Shares
GGAA
$4.57M 0.09%
440,871
– –
MCAA
73
DELISTED
Mountain & Co. I Acquisition Corp. Class A Ordinary Shares
MCAA
$4.56M 0.09%
438,834
– –
ITAQ
74
DELISTED
Industrial Tech Acquisitions II, Inc. Class A Common Stock
ITAQ
$4.55M 0.09%
447,311
– –
THAC
75
DELISTED
Thrive Acquisition Corporation Class A ordinary shares
THAC
$4.55M 0.09%
441,544
– –
1 2
3
4 5

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Jeffrey Smith's Q4 2022 Portfolio in Review

As of Q4 2022, Jeffrey Smith held 183 positions worth $5.22B, up 15% from $4.55B the previous quarter. Its ten largest holdings account for 74% of the portfolio.

Jeffrey Smith deployed $477M of net new capital in Q4 2022, opening 6 new positions and adding to 4 existing holdings. Its largest new stake was Salesforce: 3,025,982 shares worth $401M.

By sector, the portfolio is most concentrated in Technology at 42% of assets, up from 36% a quarter earlier, followed by Industrials and Financials.

On the sell side, the largest reduction was Commault Systems, an estimated $131M trimmed.

  • Jeffrey Smith's largest Q4 2022 buy was Salesforce: 3,025,982 shares worth $401M.
  • Jeffrey Smith added most to GoDaddy in Q4 2022, an estimated $148M increase.
  • Jeffrey Smith's biggest Q4 2022 reduction was Commault Systems, cutting an estimated $131M.
  • Jeffrey Smith fully exited Huntsman Corp in Q4 2022, selling an estimated $126M.
  • Jeffrey Smith's ten largest holdings make up 74% of its $5.22B portfolio in Q4 2022.
  • Jeffrey Smith opened 6 new positions and closed 35 in Q4 2022.
  • Jeffrey Smith's portfolio value rose 15% quarter-over-quarter to $5.22B.

Based on Starboard Value's 13F filing for Q4 2022, filed 14 Feb 2023.