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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
-3.71%
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
$4.55B
AUM Growth
-$954M
Cap. Flow
-$946M
Cap. Flow %
-20.81%
Top 10 Hldgs %
71.53%
Holding
188
New
5
Increased
3
Reduced
11
Closed
11

Top Buys

Rank Stock Value
1
WIX icon
WIX.com
WIX
+$177M
2
IWN icon
iShares Russell 2000 Value ETF
IWN
+$86.7M
3
BOAS
BOA Acquisition Corp.
BOAS
+$4.27M
4
CNTM
ConnectM Technology Solutions, Inc. Common Stock
CNTM
+$3.7M
5
ACAC
Acri Capital Acquisition Corp
ACAC
+$3M

Top Sells

Rank Stock Value
1
GCP
GCP Applied Technologies Inc.
GCP
+$205M
2
ON icon
ON Semiconductor
ON
+$204M
3
ELAN icon
Elanco Animal Health
ELAN
+$113M
4
ACIW icon
ACI Worldwide
ACIW
+$99.2M
5
HUN icon
Huntsman Corp
HUN
+$89.4M

Sector Composition

Rank Sector Weight
1 Technology 36.35%
2 Financials 22.27%
3 Industrials 14.46%
4 Healthcare 14.02%
5 Consumer Discretionary 4.51%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OPTX icon
101
Syntec Optics
OPTX
$343M
$4.23M 0.09%
420,500
– –
VGAS icon
102
Verde Clean Fuels
VGAS
$27.1M
$4.21M 0.09%
417,243
– –
AVHI
103
DELISTED
Achari Ventures Holdings Corp I
AVHI
$4.2M 0.09%
419,500
– –
JUN
104
DELISTED
Juniper II Corp.
JUN
$4.2M 0.09%
420,700
– –
TOAC
105
DELISTED
Talon 1 Acquisition Corp. Class A Ordinary Shares
TOAC
$4.17M 0.09%
409,054
– –
AUS
106
DELISTED
Austerlitz Acquisition Corporation I
AUS
$4.16M 0.09%
424,358
– –
LIVB
107
DELISTED
LIV Capital Acquisition Corp. II Class A Ordinary Shares
LIVB
$4.02M 0.09%
400,000
– –
EONR
108
EON Resources
EONR
$24M
$4.01M 0.09%
400,000
– –
DUET
109
DELISTED
DUET Acquisition Corp. Class A Common Stock
DUET
$3.96M 0.09%
400,000
– –
KVSC
110
DELISTED
Khosla Ventures Acquisition Co. III Class A Common Stock
KVSC
$3.93M 0.09%
401,600
– –
FRXB
111
DELISTED
Forest Road Acquisition Corp. II
FRXB
$3.93M 0.09%
399,500
– –
CNTM
112
DELISTED
ConnectM Technology Solutions, Inc. Common Stock
CNTM
$3.71M 0.08%
+375,000
New +$3.7M
SUAC
113
DELISTED
ShoulderUp Technology Acquisition Corp.
SUAC
$3.64M 0.08%
362,793
– –
PCX
114
DELISTED
Parsec Capital Acquisitions Corp Class A Common Stock
PCX
$3.63M 0.08%
358,497
– –
ROSS
115
DELISTED
Ross Acquisition Corp II
ROSS
$3.58M 0.08%
361,650
– –
APXI
116
DELISTED
APx Acquisition Corp. I Class A Ordinary Share
APXI
$3.57M 0.08%
352,697
– –
AFAR
117
DELISTED
Aura FAT Projects Acquisition Corp Class A Ordinary Shares
AFAR
$3.52M 0.08%
350,000
– –
ZEO
118
Zeo Energy
ZEO
$15.5M
$3.46M 0.08%
341,339
– –
GENQ
119
DELISTED
Genesis Unicorn Capital Corp. Class A Common Stock
GENQ
$3.24M 0.07%
325,000
– –
ALOR
120
DELISTED
ALSP Orchid Acquisition Corp I
ALOR
$3.24M 0.07%
322,884
– –
VEEA
121
Veea Inc
VEEA
$8.76M
$3.19M 0.07%
321,518
– –
ZCAR
122
DELISTED
Zoomcar
ZCAR
$3.17M 0.07%
157
– –
MACC
123
DELISTED
Mission Advancement Corp.
MACC
$3.15M 0.07%
320,400
– –
CPAQ
124
DELISTED
Counter Press Acquisition Corporation Class A Ordinary Share
CPAQ
$3.02M 0.07%
300,000
– –
DECA
125
DELISTED
Denali Capital Acquisition Corp. Class A Ordinary Shares
DECA
$3.02M 0.07%
300,000
– –
3 4
5
6 7

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Jeffrey Smith's Q3 2022 Portfolio in Review

As of Q3 2022, Jeffrey Smith held 188 positions worth $4.55B, down 17% from $5.5B the previous quarter. Its ten largest holdings account for 72% of the portfolio.

Jeffrey Smith withdrew a net $946M in Q3 2022, closing 11 positions and reducing 11 holdings. Its most notable exit was GCP Applied Technologies Inc., an estimated $205M position sold in full.

By sector, the portfolio is most concentrated in Technology at 36% of assets, up from 33% a quarter earlier, followed by Financials and Industrials.

Against the trend, Jeffrey Smith opened a new position in WIX.com worth $201M.

  • Jeffrey Smith's largest Q3 2022 buy was WIX.com: 2,567,966 shares worth $201M.
  • Jeffrey Smith added most to Atlantic Coastal Acquisition Corp. Class A Common Stock in Q3 2022, an estimated $2.94M increase.
  • Jeffrey Smith's biggest Q3 2022 reduction was ON Semiconductor, cutting an estimated $204M.
  • Jeffrey Smith fully exited GCP Applied Technologies Inc. in Q3 2022, selling an estimated $205M.
  • Jeffrey Smith's ten largest holdings make up 72% of its $4.55B portfolio in Q3 2022.
  • Jeffrey Smith opened 5 new positions and closed 11 in Q3 2022.
  • Jeffrey Smith's portfolio value fell 17% quarter-over-quarter to $4.55B.

Based on Starboard Value's 13F filing for Q3 2022, filed 14 Nov 2022.