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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
ONMD icon
126
OneMedNet
ONMD
$35.6M
$2.91M 0.04%
285,747
-47,921
-14% -$486K
FVT
127
DELISTED
Fortress Value Acquisition Corp. III
FVT
$2.81M 0.04%
285,134
-49,544
-15% -$485K
DGNU
128
DELISTED
Dragoneer Growth Opportunities Corp. III Class A Ordinary Shares
DGNU
$2.61M 0.03%
266,010
-49,527
-16% -$483K
SANB
129
DELISTED
Sanaby Health Acquisition Corp. I Class A Common Stock
SANB
$2.52M 0.03%
251,700
-36,900
-13% -$368K
PGSS
130
DELISTED
Pegasus Digital Mobility Acquisition Corp.
PGSS
$2.49M 0.03%
251,700
-36,900
-13% -$363K
ASCA
131
DELISTED
A SPAC I Acquisition Corp. Class A Ordinary Share
ASCA
$2.46M 0.03%
+250,000
New +$2.46M
HERA
132
DELISTED
FTAC Hera Acquisition Corp. Class A Ordinary Shares
HERA
$2.45M 0.03%
+250,000
New +$2.44M
BMAC
133
DELISTED
Black Mountain Acquisition Corp.
BMAC
$2.3M 0.03%
231,829
-8,671
-4% -$85.8K
CCTS
134
DELISTED
Cactus Acquisition Corp. 1 Limited Class A Ordinary Share
CCTS
$2.25M 0.03%
+225,876
New +$2.23M
LION
135
DELISTED
Lionheart III Corp Class A Common Stock
LION
$2.19M 0.03%
220,436
-29,564
-12% -$293K
CFFS
136
DELISTED
CF Acquisition Corp. VII Class A Common Stock
CFFS
$2.19M 0.03%
+220,436
New +$2.18M
HTAQ
137
DELISTED
Hunt Companies Acquisition Corp. I
HTAQ
$2.11M 0.03%
+210,250
New +$2.09M
GVCI
138
DELISTED
Green Visor Financial Technology Acquisition Corp. I Class A Ordinary Shares
GVCI
$2.1M 0.03%
+210,250
New +$2.09M
NETC
139
DELISTED
Nabors Energy Transition Corp.
NETC
$2.1M 0.03%
+210,250
New +$2.09M
JMAC
140
DELISTED
Maxpro Capital Acquisition Corp. Class A Common Stock
JMAC
$2.1M 0.03%
210,028
-30,472
-13% -$303K
GCTS
141
GCT Semiconductor Holding
GCTS
$188M
$2.09M 0.03%
210,250
-30,250
-13% -$299K
MBSC
142
DELISTED
M3-Brigade Acquisition III Corp.
MBSC
$2.09M 0.03%
209,750
-30,750
-13% -$305K
ZING
143
DELISTED
FTAC Zeus Acquisition Corp. Class A Common Stock
ZING
$2.07M 0.03%
+210,250
New +$2.06M
LGVC
144
DELISTED
LAMF Global Ventures Corp. I Class A Ordinary Shares
LGVC
$2.06M 0.03%
+207,548
New +$2.05M
FLYX icon
145
flyExclusive
FLYX
$134M
$1.98M 0.03%
203,250
-34,750
-15% -$337K
CPAR
146
DELISTED
Catalyst Partners Acquisition Corp. Class A Ordinary Share
CPAR
$1.98M 0.03%
203,250
-34,750
-15% -$337K
AAC
147
DELISTED
Ares Acquisition Corporation
AAC
$1.96M 0.03%
+200,000
New +$1.95M
HHLA
148
DELISTED
HH&L Acquisition Co.
HHLA
$1.96M 0.03%
+200,000
New +$1.95M
ACDI
149
DELISTED
Ascendant Digital Acquisition Corp. III
ACDI
$1.81M 0.02%
+181,259
New +$1.8M
APCA
150
DELISTED
AP Acquisition Corp
APCA
$1.76M 0.02%
+176,348
New +$1.75M
4 5
6
7 8

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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.