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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
+12.23%
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
$7.22B
AUM Growth
+$1.75B
Cap. Flow
+$972M
Cap. Flow %
13.47%
Top 10 Hldgs %
64.17%
Holding
162
New
96
Increased
6
Reduced
25
Closed
26

Top Buys

Rank Stock Value
1
WTW icon
Willis Towers Watson
WTW
+$497M
2
GDDY icon
GoDaddy
GDDY
+$486M
3
HUN icon
Huntsman Corp
HUN
+$210M
4
ENOV icon
Enovis
ENOV
+$190M
5
CVLT icon
Commault Systems
CVLT
+$14.3M

Top Sells

Rank Stock Value
1
BOX icon
Box
BOX
+$289M
2
MMSI icon
Merit Medical Systems
MMSI
+$150M
3
ON icon
ON Semiconductor
ON
+$43.6M
4
IWM icon
iShares Russell 2000 ETF
IWM
+$25.7M
5
CTVA icon
Corteva
CTVA
+$13.3M

Sector Composition

Rank Sector Weight
1 Technology 29.76%
2 Materials 17.41%
3 Healthcare 16.65%
4 Financials 12.62%
5 Industrials 8.14%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LION
101
DELISTED
Lionheart III Corp Class A Common Stock
LION
$2.46M 0.03%
+250,000
New +$2.47M
GVCIU
102
DELISTED
Green Visor Financial Technology Acquisition Corp. I Units
GVCIU
$2.46M 0.03%
+240,500
New +$2.43M
NETC.U
103
DELISTED
Nabors Energy Transition Corp. Units, each consisting of one share of Class A common stock and one-half of one warrant
NETC.U
$2.44M 0.03%
+240,500
New +$2.43M
HTAQ.U
104
DELISTED
Hunt Companies Acquisition Corp. I Units, each consisting of one Class A ordinary share and one-half one redeemable warrant
HTAQ.U
$2.44M 0.03%
+240,500
New +$2.43M
ZINGU
105
DELISTED
FTAC Zeus Acquisition Corp. Unit
ZINGU
$2.4M 0.03%
+240,500
New +$2.42M
JMAC
106
DELISTED
Maxpro Capital Acquisition Corp. Class A Common Stock
JMAC
$2.39M 0.03%
+240,500
New +$2.38M
GCTS
107
GCT Semiconductor Holding
GCTS
$188M
$2.38M 0.03%
+240,500
New +$2.37M
MBSC
108
DELISTED
M3-Brigade Acquisition III Corp.
MBSC
$2.37M 0.03%
+240,500
New +$2.37M
BMAC
109
DELISTED
Black Mountain Acquisition Corp.
BMAC
$2.36M 0.03%
+240,500
New +$2.37M
CPAR
110
DELISTED
Catalyst Partners Acquisition Corp. Class A Ordinary Share
CPAR
$2.32M 0.03%
238,000
-12,000
-5% -$117K
FLYX icon
111
flyExclusive
FLYX
$134M
$2.31M 0.03%
238,000
-12,000
-5% -$117K
CCTSU
112
DELISTED
Cactus Acquisition Corp. 1 Limited Unit
CCTSU
$2.28M 0.03%
+225,876
New +$2.28M
ACDI.U
113
DELISTED
Ascendant Digital Acquisition Corp. III Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant
ACDI.U
$2.1M 0.03%
+206,800
New +$2.09M
APCA.U
114
DELISTED
AP Acquisition Corp Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant
APCA.U
$2.03M 0.03%
+200,000
New +$2.02M
VMGAU
115
DELISTED
VMG Consumer Acquisition Corp. Unit
VMGAU
$1.95M 0.03%
+192,400
New +$1.94M
NFNT.U
116
DELISTED
Infinite Acquisition Corp. Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant
NFNT.U
$1.94M 0.03%
+192,400
New +$1.94M
PHYT
117
DELISTED
Pyrophyte Acquisition Corp.
PHYT
$1.9M 0.03%
+192,400
New +$1.9M
FLYA
118
DELISTED
SOAR Technology Acquisition Corp.
FLYA
$1.89M 0.03%
+186,912
New +$1.88M
OCEA
119
DELISTED
Ocean Biomedical, Inc. Common Stock
OCEA
$1.65M 0.02%
+165,304
New +$1.65M
LFACU
120
DELISTED
LF Capital Acquisition Corp. II Units
LFACU
$1.6M 0.02%
+159,557
New +$1.61M
RCFA.U
121
DELISTED
Perception Capital Corp. IV Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant
RCFA.U
$1.46M 0.02%
+144,300
New +$1.45M
DEVS
122
DELISTED
DevvStream Corp
DEVS
$1.42M 0.02%
+14,430
New +$1.42M
ADAL
123
DELISTED
Anthemis Digital Acquisitions I Corp Class A Ordinary Shares
ADAL
$1.42M 0.02%
+144,300
New +$1.41M
TCVA
124
DELISTED
TCV Acquisition Corp. Class A Ordinary Shares
TCVA
$1.41M 0.02%
142,950
-7,050
-5% -$69.6K
PRBM
125
DELISTED
Parabellum Acquisition Corp.
PRBM
$1.4M 0.02%
+144,000
New +$1.41M
3 4
5
6 7

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Jeffrey Smith's Q4 2021 Portfolio in Review

As of Q4 2021, Jeffrey Smith held 162 positions worth $7.22B, up 32% from $5.46B the previous quarter. Its ten largest holdings account for 64% of the portfolio.

Jeffrey Smith deployed $972M of net new capital in Q4 2021, opening 96 new positions and adding to 6 existing holdings. Its largest new stake was Willis Towers Watson: 2,100,894 shares worth $499M.

By sector, the portfolio is most concentrated in Technology at 30% of assets, down from 31% a quarter earlier, followed by Materials and Healthcare.

On the sell side, the largest reduction was Merit Medical Systems, an estimated $150M trimmed.

  • Jeffrey Smith's largest Q4 2021 buy was Willis Towers Watson: 2,100,894 shares worth $499M.
  • Jeffrey Smith added most to Huntsman Corp in Q4 2021, an estimated $210M increase.
  • Jeffrey Smith's biggest Q4 2021 reduction was Merit Medical Systems, cutting an estimated $150M.
  • Jeffrey Smith fully exited Box in Q4 2021, selling an estimated $289M.
  • Jeffrey Smith's ten largest holdings make up 64% of its $7.22B portfolio in Q4 2021.
  • Jeffrey Smith opened 96 new positions and closed 26 in Q4 2021.
  • Jeffrey Smith's portfolio value rose 32% quarter-over-quarter to $7.22B.

Based on Starboard Value's 13F filing for Q4 2021, filed 14 Feb 2022.