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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
+7.54%
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
$4.63B
AUM Growth
-$360M
Cap. Flow
-$555M
Cap. Flow %
-11.98%
Top 10 Hldgs %
81.59%
Holding
110
New
3
Increased
2
Reduced
10
Closed
62

Top Buys

Rank Stock Value
1
AQN icon
Algonquin Power & Utilities
AQN
+$290M
2
WIX icon
WIX.com
WIX
+$149M
3
ABCM
Abcam PLC
ABCM
+$79.3M
4
HUM icon
Humana
HUM
+$42.8M
5
ALCY
Alchemy Investments Acquisition Corp 1
ALCY
+$3.59M

Top Sells

Rank Stock Value
1
WTW icon
Willis Towers Watson
WTW
+$302M
2
ACM icon
Aecom
ACM
+$132M
3
CRM icon
Salesforce
CRM
+$107M
4
CVLT icon
Commault Systems
CVLT
+$95.3M
5
SPLK
Splunk Inc
SPLK
+$48.9M

Sector Composition

Rank Sector Weight
1 Technology 52.19%
2 Industrials 19.69%
3 Healthcare 11.05%
4 Financials 6.57%
5 Utilities 6.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PGSS
76
DELISTED
Pegasus Digital Mobility Acquisition Corp.
PGSS
– –
-251,700
Closed -$2.63M
LIBY
77
DELISTED
Liberty Resources Acquisition Corp. Class A Common Stock
LIBY
– –
-498,406
Closed -$5.24M
PORT
78
DELISTED
Southport Acquisition Corporation
PORT
– –
-440,871
Closed -$4.59M
HCMA
79
DELISTED
HCM Acquisition Corp Class A Ordinary Shares
HCMA
– –
-750,000
Closed -$7.83M
NETC
80
DELISTED
Nabors Energy Transition Corp.
NETC
– –
-210,250
Closed -$2.21M
BRD
81
DELISTED
Beard Energy Transition Acquisition Corp.
BRD
– –
-105,125
Closed -$1.09M
BMAC
82
DELISTED
Black Mountain Acquisition Corp.
BMAC
– –
-231,829
Closed -$2.41M
LIVB
83
DELISTED
LIV Capital Acquisition Corp. II Class A Ordinary Shares
LIVB
– –
-400,000
Closed -$4.18M
SUAC
84
DELISTED
ShoulderUp Technology Acquisition Corp.
SUAC
– –
-362,793
Closed -$3.77M
SHUA
85
DELISTED
SHUAA Partners Acquisition Corp I Class A Ordinary Share
SHUA
– –
-450,000
Closed -$4.72M
ARTE
86
DELISTED
Artemis Strategic Investment Corporation Class A Common Stock
ARTE
– –
-500,000
Closed -$5.17M
ITAQ
87
DELISTED
Industrial Tech Acquisitions II, Inc. Class A Common Stock
ITAQ
– –
-447,311
Closed -$4.65M
CXAC
88
DELISTED
C5 Acquisition Corporation
CXAC
– –
-439,252
Closed -$4.59M
JUN
89
DELISTED
Juniper II Corp.
JUN
– –
-420,700
Closed -$4.37M
BIOS
90
DELISTED
BioPlus Acquisition Corp. Class A Ordinary Shares
BIOS
– –
-617,220
Closed -$6.44M
CREC
91
DELISTED
Crescera Capital Acquisition Corp Class A Ordinary Shares
CREC
– –
-512,748
Closed -$5.36M
GOGN
92
DELISTED
GoGreen Investments Corporation
GOGN
– –
-480,069
Closed -$5.06M
AHRN
93
DELISTED
Ahren Acquisition Corp
AHRN
– –
-295,825
Closed -$3.08M
CYXT
94
DELISTED
Cyxtera Technologies, Inc. Class A Common Stock
CYXT
– –
-20,767,571
Closed -$6.34M
SCUA
95
DELISTED
Sculptor Acquisition Corp I
SCUA
– –
-440,871
Closed -$4.6M
AVAC
96
DELISTED
Avalon Acquisition Inc. Class A Common Stock
AVAC
– –
-640,549
Closed -$6.68M
BPAC
97
DELISTED
Bullpen Parlay Acquisition Company Class A Ordinary Share
BPAC
– –
-617,219
Closed -$6.43M
SPCM
98
DELISTED
Sound Point Acquisition Corp I, Ltd Class A Ordinary Share
SPCM
– –
-500,000
Closed -$5.27M
VMGA
99
DELISTED
VMG Consumer Acquisition Corp. Class A Common Stock
VMGA
– –
-168,200
Closed -$1.74M
LVAC
100
DELISTED
LAVA Medtech Acquisition Corp. Class A Common Stock
LVAC
– –
-41,950
Closed -$438K
1 2 3
4
5

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Jeffrey Smith's Q2 2023 Portfolio in Review

As of Q2 2023, Jeffrey Smith held 110 positions worth $4.63B, down 7.2% from $4.99B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Jeffrey Smith withdrew a net $555M in Q2 2023, closing 62 positions and reducing 10 holdings. Its most notable exit was Enovis, an estimated $18.9M position sold in full.

By sector, the portfolio is most concentrated in Technology at 52% of assets, up from 51% a quarter earlier, followed by Industrials and Healthcare.

Against the trend, Jeffrey Smith opened a new position in Algonquin Power & Utilities worth $282M.

  • Jeffrey Smith's largest Q2 2023 buy was Algonquin Power & Utilities: 34,138,650 shares worth $282M.
  • Jeffrey Smith added most to WIX.com in Q2 2023, an estimated $149M increase.
  • Jeffrey Smith's biggest Q2 2023 reduction was Willis Towers Watson, cutting an estimated $302M.
  • Jeffrey Smith fully exited Enovis in Q2 2023, selling an estimated $18.9M.
  • Jeffrey Smith's ten largest holdings make up 82% of its $4.63B portfolio in Q2 2023.
  • Jeffrey Smith opened 3 new positions and closed 62 in Q2 2023.
  • Jeffrey Smith's portfolio value fell 7.2% quarter-over-quarter to $4.63B.

Based on Starboard Value's 13F filing for Q2 2023, filed 11 Aug 2023.