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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
-11.43%
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
$5.5B
AUM Growth
-$2.04B
Cap. Flow
-$1B
Cap. Flow %
-18.22%
Top 10 Hldgs %
65.45%
Holding
197
New
27
Increased
8
Reduced
13
Closed
14

Top Buys

Rank Stock Value
1
GEN icon
Gen Digital
GEN
+$61.5M
2
WTW icon
Willis Towers Watson
WTW
+$22.4M
3
MRCY icon
Mercury Systems
MRCY
+$21.4M
4
LPSN icon
LivePerson
LPSN
+$11.3M
5
GDDY icon
GoDaddy
GDDY
+$9.61M

Top Sells

Rank Stock Value
1
CTVA icon
Corteva
CTVA
+$289M
2
HUN icon
Huntsman Corp
HUN
+$277M
3
CERN
Cerner Corp
CERN
+$211M
4
IWM icon
iShares Russell 2000 ETF
IWM
+$184M
5
KSS icon
Kohl's
KSS
+$137M

Sector Composition

Rank Sector Weight
1 Technology 32.68%
2 Financials 18.93%
3 Healthcare 14.95%
4 Industrials 13.46%
5 Materials 9.2%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TVGN icon
101
Tevogen Inc
TVGN
$44M
$4.21M 0.08%
8,410
– –
WEL
102
DELISTED
Integrated Wellness Acquisition Corp
WEL
$4.21M 0.08%
421,946
– –
VGAS icon
103
Verde Clean Fuels
VGAS
$27.1M
$4.2M 0.08%
417,243
– –
OPTX icon
104
Syntec Optics
OPTX
$343M
$4.2M 0.08%
420,500
– –
AVHI
105
DELISTED
Achari Ventures Holdings Corp I
AVHI
$4.19M 0.08%
419,500
– –
JUN
106
DELISTED
Juniper II Corp.
JUN
$4.18M 0.08%
420,700
– –
AUS
107
DELISTED
Austerlitz Acquisition Corporation I
AUS
$4.14M 0.08%
424,358
– –
TOAC
108
DELISTED
Talon 1 Acquisition Corp. Class A Ordinary Shares
TOAC
$4.12M 0.07%
409,054
– –
LIVB
109
DELISTED
LIV Capital Acquisition Corp. II Class A Ordinary Shares
LIVB
$3.99M 0.07%
400,000
– –
EONR
110
EON Resources
EONR
$24M
$3.98M 0.07%
+400,000
New +$4M
DUET
111
DELISTED
DUET Acquisition Corp. Class A Common Stock
DUET
$3.95M 0.07%
400,000
– –
FRXB
112
DELISTED
Forest Road Acquisition Corp. II
FRXB
$3.91M 0.07%
399,500
– –
KVSC
113
DELISTED
Khosla Ventures Acquisition Co. III Class A Common Stock
KVSC
$3.91M 0.07%
401,600
– –
MCACU
114
DELISTED
Monterey Capital Acquisition Corporation Unit
MCACU
$3.73M 0.07%
+375,000
New +$3.73M
PCX
115
DELISTED
Parsec Capital Acquisitions Corp Class A Common Stock
PCX
$3.6M 0.07%
358,497
– –
SUAC
116
DELISTED
ShoulderUp Technology Acquisition Corp.
SUAC
$3.6M 0.07%
362,793
– –
ROSS
117
DELISTED
Ross Acquisition Corp II
ROSS
$3.55M 0.06%
361,650
– –
APXI
118
DELISTED
APx Acquisition Corp. I Class A Ordinary Share
APXI
$3.53M 0.06%
352,697
– –
AFAR
119
DELISTED
Aura FAT Projects Acquisition Corp Class A Ordinary Shares
AFAR
$3.48M 0.06%
+350,000
New +$3.46M
SLND icon
120
Southland Holdings
SLND
$37M
$3.47M 0.06%
349,873
– –
ZEO
121
Zeo Energy
ZEO
$15.5M
$3.43M 0.06%
341,339
– –
PRPB
122
DELISTED
CC Neuberger Principal Holdings II Class A Ordinary Shares
PRPB
$3.39M 0.06%
339,324
– –
BURU
123
DELISTED
NUBURU INC
BURU
$3.26M 0.06%
1,639
– –
GENQ
124
DELISTED
Genesis Unicorn Capital Corp. Class A Common Stock
GENQ
$3.23M 0.06%
+325,000
New +$3.23M
ALOR
125
DELISTED
ALSP Orchid Acquisition Corp I
ALOR
$3.22M 0.06%
322,884
– –
3 4
5
6 7

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Jeffrey Smith's Q2 2022 Portfolio in Review

As of Q2 2022, Jeffrey Smith held 197 positions worth $5.5B, down 27% from $7.54B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Jeffrey Smith withdrew a net $1B in Q2 2022, closing 14 positions and reducing 13 holdings. Its most notable exit was Cerner Corp, an estimated $211M position sold in full.

By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 29% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Jeffrey Smith opened a new position in Investcorp India Acquisition Corp worth $7.46M.

  • Jeffrey Smith's largest Q2 2022 buy was Investcorp India Acquisition Corp: 750,000 shares worth $7.46M.
  • Jeffrey Smith added most to Gen Digital in Q2 2022, an estimated $61.5M increase.
  • Jeffrey Smith's biggest Q2 2022 reduction was Corteva, cutting an estimated $289M.
  • Jeffrey Smith fully exited Cerner Corp in Q2 2022, selling an estimated $211M.
  • Jeffrey Smith's ten largest holdings make up 65% of its $5.5B portfolio in Q2 2022.
  • Jeffrey Smith opened 27 new positions and closed 14 in Q2 2022.
  • Jeffrey Smith's portfolio value fell 27% quarter-over-quarter to $5.5B.

Based on Starboard Value's 13F filing for Q2 2022, filed 12 Aug 2022.