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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
+7.52%
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
$4.99B
AUM Growth
-$231M
Cap. Flow
-$321M
Cap. Flow %
-6.44%
Top 10 Hldgs %
79.12%
Holding
155
New
5
Increased
4
Reduced
9
Closed
49

Top Buys

Rank Stock Value
1
SPLK
Splunk Inc
SPLK
+$260M
2
ROG icon
Rogers Corp
ROG
+$148M
3
ACTG icon
Acacia Research
ACTG
+$63.4M
4
RBA icon
RB Global
RBA
+$14.8M
5
HUM icon
Humana
HUM
+$12.4M

Top Sells

Rank Stock Value
1
PZZA icon
Papa John's
PZZA
+$184M
2
ACM icon
Aecom
ACM
+$137M
3
IWM icon
iShares Russell 2000 ETF
IWM
+$95.6M
4
CRM icon
Salesforce
CRM
+$83.6M
5
MD icon
Pediatrix Medical
MD
+$81.3M

Sector Composition

Rank Sector Weight
1 Technology 51.1%
2 Industrials 19.89%
3 Financials 15.49%
4 Healthcare 8.51%
5 Consumer Discretionary 1.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GOGN
51
DELISTED
GoGreen Investments Corporation
GOGN
$5.06M 0.1%
480,069
– –
EVGR
52
DELISTED
Evergreen Corporation Class A Ordinary Share
EVGR
$4.97M 0.1%
475,000
– –
SHUA
53
DELISTED
SHUAA Partners Acquisition Corp I Class A Ordinary Share
SHUA
$4.72M 0.09%
450,000
– –
FTII
54
DELISTED
FutureTech II Acquisition Corp. Class A Common Stock
FTII
$4.71M 0.09%
450,000
– –
ITAQ
55
DELISTED
Industrial Tech Acquisitions II, Inc. Class A Common Stock
ITAQ
$4.65M 0.09%
447,311
– –
FRLA
56
DELISTED
Fortune Rise Acquisition Corporation Class A Common Stock
FRLA
$4.62M 0.09%
433,688
– –
ZPTA
57
DELISTED
Zapata Computing Holdings Inc. Common Stock
ZPTA
$4.62M 0.09%
439,252
– –
PRLH
58
DELISTED
Pearl Holdings Acquisition Corp Class A Ordinary Shares
PRLH
$4.6M 0.09%
440,871
– –
BFAC
59
DELISTED
Battery Future Acquisition Corp.
BFAC
$4.6M 0.09%
440,871
– –
SCUA
60
DELISTED
Sculptor Acquisition Corp I
SCUA
$4.6M 0.09%
440,871
– –
EVE
61
DELISTED
EVe Mobility Acquisition Corp
EVE
$4.6M 0.09%
440,971
– –
HAIA
62
DELISTED
Healthcare AI Acquisition Corp. Class A Ordinary Shares
HAIA
$4.6M 0.09%
440,871
– –
CXAC
63
DELISTED
C5 Acquisition Corporation
CXAC
$4.59M 0.09%
439,252
– –
PORT
64
DELISTED
Southport Acquisition Corporation
PORT
$4.59M 0.09%
440,871
– –
VSAC
65
DELISTED
Vision Sensing Acquisition Corp. Class A Common Stock
VSAC
$4.57M 0.09%
435,612
– –
WEL
66
DELISTED
Integrated Wellness Acquisition Corp
WEL
$4.43M 0.09%
421,946
– –
CMCA
67
DELISTED
Capitalworks Emerging Markets Acquisition Corp Class A Ordinary Shares
CMCA
$4.4M 0.09%
418,758
– –
JUN
68
DELISTED
Juniper II Corp.
JUN
$4.37M 0.09%
420,700
– –
LIVB
69
DELISTED
LIV Capital Acquisition Corp. II Class A Ordinary Shares
LIVB
$4.18M 0.08%
400,000
– –
EONR
70
EON Resources
EONR
$24M
$4.18M 0.08%
400,000
– –
DUET
71
DELISTED
DUET Acquisition Corp. Class A Common Stock
DUET
$4.14M 0.08%
400,000
– –
KVSC
72
DELISTED
Khosla Ventures Acquisition Co. III Class A Common Stock
KVSC
$4.08M 0.08%
401,600
– –
CNTM
73
DELISTED
ConnectM Technology Solutions, Inc. Common Stock
CNTM
$3.85M 0.08%
375,000
– –
SUAC
74
DELISTED
ShoulderUp Technology Acquisition Corp.
SUAC
$3.77M 0.08%
362,793
– –
AFAR
75
DELISTED
Aura FAT Projects Acquisition Corp Class A Ordinary Shares
AFAR
$3.65M 0.07%
350,000
– –
1 2
3
4 5

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Jeffrey Smith's Q1 2023 Portfolio in Review

As of Q1 2023, Jeffrey Smith held 155 positions worth $4.99B, down 4.4% from $5.22B the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Jeffrey Smith withdrew a net $321M in Q1 2023, closing 49 positions and reducing 9 holdings. Its most notable exit was iShares Russell 2000 ETF, an estimated $95.6M position sold in full.

By sector, the portfolio is most concentrated in Technology at 51% of assets, up from 42% a quarter earlier, followed by Industrials and Financials.

Against the trend, Jeffrey Smith opened a new position in Rogers Corp worth $168M.

  • Jeffrey Smith's largest Q1 2023 buy was Rogers Corp: 1,028,200 shares worth $168M.
  • Jeffrey Smith added most to Splunk Inc in Q1 2023, an estimated $260M increase.
  • Jeffrey Smith's biggest Q1 2023 reduction was Papa John's, cutting an estimated $184M.
  • Jeffrey Smith fully exited iShares Russell 2000 ETF in Q1 2023, selling an estimated $95.6M.
  • Jeffrey Smith's ten largest holdings make up 79% of its $4.99B portfolio in Q1 2023.
  • Jeffrey Smith opened 5 new positions and closed 49 in Q1 2023.
  • Jeffrey Smith's portfolio value fell 4.4% quarter-over-quarter to $4.99B.

Based on Starboard Value's 13F filing for Q1 2023, filed 12 May 2023.