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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
+9.3%
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
$5.22B
AUM Growth
+$671M
Cap. Flow
+$477M
Cap. Flow %
9.13%
Top 10 Hldgs %
73.53%
Holding
183
New
6
Increased
4
Reduced
8
Closed
35

Top Buys

Rank Stock Value
1
CRM icon
Salesforce
CRM
+$442M
2
VRT icon
Vertiv
VRT
+$225M
3
SPLK
Splunk Inc
SPLK
+$151M
4
GDDY icon
GoDaddy
GDDY
+$148M
5
IWN icon
iShares Russell 2000 Value ETF
IWN
+$42.4M

Top Sells

Rank Stock Value
1
CVLT icon
Commault Systems
CVLT
+$131M
2
HUN icon
Huntsman Corp
HUN
+$126M
3
ON icon
ON Semiconductor
ON
+$99.8M
4
HUM icon
Humana
HUM
+$93.6M
5
WTW icon
Willis Towers Watson
WTW
+$70.1M

Sector Composition

Rank Sector Weight
1 Technology 41.73%
2 Industrials 19.95%
3 Financials 18.07%
4 Healthcare 10%
5 Consumer Discretionary 4.58%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ZEO
101
Zeo Energy
ZEO
$15.5M
$3.53M 0.07%
341,339
– –
ALOR
102
DELISTED
ALSP Orchid Acquisition Corp I
ALOR
$3.3M 0.06%
322,884
– –
GENQ
103
DELISTED
Genesis Unicorn Capital Corp. Class A Common Stock
GENQ
$3.3M 0.06%
325,000
– –
VEEA
104
Veea Inc
VEEA
$8.76M
$3.24M 0.06%
321,518
– –
ZCAR
105
DELISTED
Zoomcar
ZCAR
$3.22M 0.06%
157
– –
DECA
106
DELISTED
Denali Capital Acquisition Corp. Class A Ordinary Shares
DECA
$3.09M 0.06%
300,000
– –
CPAQ
107
DELISTED
Counter Press Acquisition Corporation Class A Ordinary Share
CPAQ
$3.08M 0.06%
300,000
– –
ACAC
108
DELISTED
Acri Capital Acquisition Corp
ACAC
$3.07M 0.06%
300,000
– –
FLFVU
109
DELISTED
Feutune Light Acquisition Corporation Unit
FLFVU
$3.05M 0.06%
300,000
– –
AHRN
110
DELISTED
Ahren Acquisition Corp
AHRN
$3.03M 0.06%
295,825
– –
AIMBU
111
DELISTED
Aimfinity Investment Corp I Subunit
AIMBU
$3.01M 0.06%
300,000
– –
PGSS
112
DELISTED
Pegasus Digital Mobility Acquisition Corp.
PGSS
$2.59M 0.05%
251,700
– –
ASCA
113
DELISTED
A SPAC I Acquisition Corp. Class A Ordinary Share
ASCA
$2.55M 0.05%
250,000
– –
HERA
114
DELISTED
FTAC Hera Acquisition Corp. Class A Ordinary Shares
HERA
$2.53M 0.05%
250,000
– –
BMAC
115
DELISTED
Black Mountain Acquisition Corp.
BMAC
$2.36M 0.05%
231,829
– –
CCTS
116
DELISTED
Cactus Acquisition Corp. 1 Limited Class A Ordinary Share
CCTS
$2.32M 0.04%
225,876
– –
CFFS
117
DELISTED
CF Acquisition Corp. VII Class A Common Stock
CFFS
$2.25M 0.04%
220,436
– –
LION
118
DELISTED
Lionheart III Corp Class A Common Stock
LION
$2.25M 0.04%
220,436
– –
GVCI
119
DELISTED
Green Visor Financial Technology Acquisition Corp. I Class A Ordinary Shares
GVCI
$2.18M 0.04%
210,250
– –
JMAC
120
DELISTED
Maxpro Capital Acquisition Corp. Class A Common Stock
JMAC
$2.18M 0.04%
210,028
– –
NETC
121
DELISTED
Nabors Energy Transition Corp.
NETC
$2.16M 0.04%
210,250
– –
GCTS
122
GCT Semiconductor Holding
GCTS
$188M
$2.14M 0.04%
210,250
– –
LGVC
123
DELISTED
LAMF Global Ventures Corp. I Class A Ordinary Shares
LGVC
$2.13M 0.04%
207,548
– –
MBSC
124
DELISTED
M3-Brigade Acquisition III Corp.
MBSC
$2.13M 0.04%
209,750
– –
ZING
125
DELISTED
FTAC Zeus Acquisition Corp. Class A Common Stock
ZING
$2.12M 0.04%
210,250
– –
3 4
5
6 7

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Jeffrey Smith's Q4 2022 Portfolio in Review

As of Q4 2022, Jeffrey Smith held 183 positions worth $5.22B, up 15% from $4.55B the previous quarter. Its ten largest holdings account for 74% of the portfolio.

Jeffrey Smith deployed $477M of net new capital in Q4 2022, opening 6 new positions and adding to 4 existing holdings. Its largest new stake was Salesforce: 3,025,982 shares worth $401M.

By sector, the portfolio is most concentrated in Technology at 42% of assets, up from 36% a quarter earlier, followed by Industrials and Financials.

On the sell side, the largest reduction was Commault Systems, an estimated $131M trimmed.

  • Jeffrey Smith's largest Q4 2022 buy was Salesforce: 3,025,982 shares worth $401M.
  • Jeffrey Smith added most to GoDaddy in Q4 2022, an estimated $148M increase.
  • Jeffrey Smith's biggest Q4 2022 reduction was Commault Systems, cutting an estimated $131M.
  • Jeffrey Smith fully exited Huntsman Corp in Q4 2022, selling an estimated $126M.
  • Jeffrey Smith's ten largest holdings make up 74% of its $5.22B portfolio in Q4 2022.
  • Jeffrey Smith opened 6 new positions and closed 35 in Q4 2022.
  • Jeffrey Smith's portfolio value rose 15% quarter-over-quarter to $5.22B.

Based on Starboard Value's 13F filing for Q4 2022, filed 14 Feb 2023.