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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
-1.65%
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
$7.54B
AUM Growth
+$327M
Cap. Flow
+$786M
Cap. Flow %
10.42%
Top 10 Hldgs %
60.25%
Holding
226
New
90
Increased
8
Reduced
66
Closed
56

Top Buys

Rank Stock Value
1
HUM icon
Humana
HUM
+$405M
2
MRCY icon
Mercury Systems
MRCY
+$213M
3
KSS icon
Kohl's
KSS
+$188M
4
LPSN icon
LivePerson
LPSN
+$173M
5
GDDY icon
GoDaddy
GDDY
+$115M

Top Sells

Rank Stock Value
1
MGLN
Magellan Health Services, Inc.
MGLN
+$225M
2
CTVA icon
Corteva
CTVA
+$148M
3
CERN
Cerner Corp
CERN
+$108M
4
ACIW icon
ACI Worldwide
ACIW
+$91.6M
5
ON icon
ON Semiconductor
ON
+$57.9M

Sector Composition

Rank Sector Weight
1 Technology 29.09%
2 Healthcare 16.23%
3 Materials 15.65%
4 Financials 13.94%
5 Industrials 10.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LIVB
101
DELISTED
LIV Capital Acquisition Corp. II Class A Ordinary Shares
LIVB
$4.12M 0.05%
+400,000
New +$3.98M
TOAC
102
DELISTED
Talon 1 Acquisition Corp. Class A Ordinary Shares
TOAC
$4.11M 0.05%
+409,054
New +$4.09M
ZFOX
103
DELISTED
ZeroFox Holdings, Inc. Common Stock
ZFOX
$4.1M 0.05%
405,336
-72,446
-15% -$729K
HNRA.U
104
DELISTED
HNR Acquisition Corp Units, each consisting of one share of Common Stock, and one redeemable Warrant
HNRA.U
$4.02M 0.05%
+400,000
New +$4.01M
DUET
105
DELISTED
DUET Acquisition Corp. Class A Common Stock
DUET
$3.96M 0.05%
+400,000
New +$3.95M
KVSC
106
DELISTED
Khosla Ventures Acquisition Co. III Class A Common Stock
KVSC
$3.92M 0.05%
401,600
-74,750
-16% -$727K
FRXB
107
DELISTED
Forest Road Acquisition Corp. II
FRXB
$3.9M 0.05%
399,500
-77,000
-16% -$749K
PCX
108
DELISTED
Parsec Capital Acquisitions Corp Class A Common Stock
PCX
$3.58M 0.05%
358,497
-49,805
-12% -$496K
SUAC
109
DELISTED
ShoulderUp Technology Acquisition Corp.
SUAC
$3.58M 0.05%
+362,793
New +$3.57M
ROSS
110
DELISTED
Ross Acquisition Corp II
ROSS
$3.55M 0.05%
361,650
-67,050
-16% -$653K
APXI
111
DELISTED
APx Acquisition Corp. I Class A Ordinary Share
APXI
$3.52M 0.05%
+352,697
New +$3.5M
SLND icon
112
Southland Holdings
SLND
$37M
$3.47M 0.05%
349,873
-48,770
-12% -$481K
ZEO
113
Zeo Energy
ZEO
$15.5M
$3.42M 0.05%
341,339
-47,261
-12% -$471K
PRPB
114
DELISTED
CC Neuberger Principal Holdings II Class A Ordinary Shares
PRPB
$3.37M 0.04%
339,324
-63,456
-16% -$628K
GENQU
115
DELISTED
Genesis Unicorn Capital Corp. Unit
GENQU
$3.25M 0.04%
+325,000
New +$3.25M
BURU
116
DELISTED
NUBURU INC
BURU
$3.24M 0.04%
1,639
-273
-14% -$537K
ALOR
117
DELISTED
ALSP Orchid Acquisition Corp I
ALOR
$3.22M 0.04%
+322,884
New +$3.2M
ACAH
118
DELISTED
Atlantic Coastal Acquisition Corp. Class A Common Stock
ACAH
$3.14M 0.04%
+322,243
New +$3.16M
VEEA
119
Veea Inc
VEEA
$8.76M
$3.14M 0.04%
321,518
-59,970
-16% -$583K
MACC
120
DELISTED
Mission Advancement Corp.
MACC
$3.14M 0.04%
320,400
-60,750
-16% -$590K
ZCAR
121
DELISTED
Zoomcar
ZCAR
$3.13M 0.04%
+157
New +$3.12M
CPAQU
122
DELISTED
Counter Press Acquisition Corporation Unit
CPAQU
$3.02M 0.04%
+300,000
New +$3.03M
APN
123
DELISTED
Apeiron Capital Investment Corp
APN
$2.94M 0.04%
+294,444
New +$2.93M
AHRN
124
DELISTED
Ahren Acquisition Corp
AHRN
$2.94M 0.04%
+295,825
New +$2.92M
TLSI icon
125
TriSalus Life Sciences
TLSI
$324M
$2.92M 0.04%
298,368
– –
3 4
5
6 7

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Jeffrey Smith's Q1 2022 Portfolio in Review

As of Q1 2022, Jeffrey Smith held 226 positions worth $7.54B, up 4.5% from $7.22B the previous quarter. Its ten largest holdings account for 60% of the portfolio.

Jeffrey Smith deployed $786M of net new capital in Q1 2022, opening 90 new positions and adding to 8 existing holdings. Its largest new stake was Humana: 968,200 shares worth $421M.

By sector, the portfolio is most concentrated in Technology at 29% of assets, down from 30% a quarter earlier, followed by Healthcare and Materials.

On the sell side, the largest reduction was Corteva, an estimated $148M trimmed.

  • Jeffrey Smith's largest Q1 2022 buy was Humana: 968,200 shares worth $421M.
  • Jeffrey Smith added most to GoDaddy in Q1 2022, an estimated $115M increase.
  • Jeffrey Smith's biggest Q1 2022 reduction was Corteva, cutting an estimated $148M.
  • Jeffrey Smith fully exited Magellan Health Services, Inc. in Q1 2022, selling an estimated $225M.
  • Jeffrey Smith's ten largest holdings make up 60% of its $7.54B portfolio in Q1 2022.
  • Jeffrey Smith opened 90 new positions and closed 56 in Q1 2022.
  • Jeffrey Smith's portfolio value rose 4.5% quarter-over-quarter to $7.54B.

Based on Starboard Value's 13F filing for Q1 2022, filed 13 May 2022.