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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
UP icon
76
Wheels Up
UP
$180M
– –
-860
Closed -$1.72M
XOS icon
77
Xos
XOS
$49.8M
– –
-777
Closed -$232K
PDYN icon
78
Palladyne AI
PDYN
$302M
– –
-60,801
Closed -$3.64M
VEEAW
79
CALL
Veea Inc Warrant
VEEAW
– –
-60,000
Closed -$70K
SLAMW
80
CALL
DELISTED
Slam Corp. warrant
SLAMW
– –
-150,246
Closed -$162K
EGGF.U
81
DELISTED
EG Acquisition Corp. Units, each consisting of one share of Class A common stock and one-third of one redeemable warrant
EGGF.U
– –
-250,000
Closed -$2.5M
DKDCU
82
DELISTED
Data Knights Acquisition Corp. Unit
DKDCU
– –
-300,000
Closed -$3.1M
KVSC
83
DELISTED
Khosla Ventures Acquisition Co. III Class A Common Stock
KVSC
– –
-500,000
Closed -$4.93M
LEGAW
84
CALL
DELISTED
Lead Edge Growth Opportunities, Ltd Warrant
LEGAW
– –
-124,999
Closed -$202K
CPARU
85
DELISTED
Catalyst Partners Acquisition Corp. Unit
CPARU
– –
-250,000
Closed -$2.52M
KAHC.WS
86
CALL
DELISTED
KKR Acquisition Holdings I Corp. Redeemable Warrants, each whole Warrant exercisable for one share of Class A Common Stock, each at an exercise price of $11.50 per share
KAHC.WS
– –
-148,698
Closed -$175K
WPCB.WS
87
CALL
DELISTED
Warburg Pincus Capital Corporation I-B Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
WPCB.WS
– –
-169,414
Closed -$220K
ATMR.WS
88
CALL
DELISTED
Altimar Acquisition Corp II Warrants
ATMR.WS
– –
-124,999
Closed -$145K
ITAC
89
DELISTED
Industrial Tech Acquisitions, Inc. Class A common stock
ITAC
– –
-141,177
Closed -$1.41M
MAAC
90
DELISTED
Montes Archimedes Acquisition Corp. Class A Common Stock
MAAC
– –
-441,615
Closed -$4.37M
QELL
91
DELISTED
Qell Acquisition Corp. Class A Ordinary Shares
QELL
– –
-300,000
Closed -$2.98M
TWCT
92
DELISTED
TWC Tech Holdings II Corp. Class A Common Stock
TWCT
– –
-450,000
Closed -$4.47M
KSMT
93
DELISTED
Kismet Acquisition One Corp Ordinary Shares
KSMT
– –
-200,000
Closed -$1.98M
SAII
94
DELISTED
Software Acquisition Group Inc. II Class A Common Stock
SAII
– –
-43,362
Closed -$431K
NEBC
95
DELISTED
Nebula Caravel Acquisition Corp. Class A Common Stock
NEBC
– –
-200,000
Closed -$2M
VCVC
96
DELISTED
10X Capital Venture Acquisition Corp
VCVC
– –
-196,800
Closed -$1.96M
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.