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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
ACAH
126
DELISTED
Atlantic Coastal Acquisition Corp. Class A Common Stock
ACAH
$3.15M 0.06%
322,243
– –
VEEA
127
Veea Inc
VEEA
$8.76M
$3.15M 0.06%
321,518
– –
ZCAR
128
DELISTED
Zoomcar
ZCAR
$3.14M 0.06%
157
– –
MACC
129
DELISTED
Mission Advancement Corp.
MACC
$3.13M 0.06%
320,400
– –
ACACU
130
DELISTED
Acri Capital Acquisition Corp Unit
ACACU
$3M 0.05%
+300,000
New +$2.99M
FLFVU
131
DELISTED
Feutune Light Acquisition Corporation Unit
FLFVU
$2.99M 0.05%
+300,000
New +$2.99M
CPAQ
132
DELISTED
Counter Press Acquisition Corporation Class A Ordinary Share
CPAQ
$2.99M 0.05%
+300,000
New +$2.99M
DECA
133
DELISTED
Denali Capital Acquisition Corp. Class A Ordinary Shares
DECA
$2.98M 0.05%
+300,000
New +$2.99M
AIMBU
134
DELISTED
Aimfinity Investment Corp I Subunit
AIMBU
$2.96M 0.05%
+300,000
New +$2.96M
APN
135
DELISTED
Apeiron Capital Investment Corp
APN
$2.94M 0.05%
294,444
– –
TLSI icon
136
TriSalus Life Sciences
TLSI
$324M
$2.94M 0.05%
298,368
– –
AHRN
137
DELISTED
Ahren Acquisition Corp
AHRN
$2.94M 0.05%
295,825
– –
ONMD icon
138
OneMedNet
ONMD
$35.6M
$2.93M 0.05%
285,747
– –
FVT
139
DELISTED
Fortress Value Acquisition Corp. III
FVT
$2.8M 0.05%
285,134
– –
CTAQ
140
DELISTED
Carney Technology Acquisition Corp. II Class A Common Stock
CTAQ
$2.71M 0.05%
+275,000
New +$2.71M
SANB
141
DELISTED
Sanaby Health Acquisition Corp. I Class A Common Stock
SANB
$2.53M 0.05%
251,700
– –
PGSS
142
DELISTED
Pegasus Digital Mobility Acquisition Corp.
PGSS
$2.5M 0.05%
251,700
– –
ASCA
143
DELISTED
A SPAC I Acquisition Corp. Class A Ordinary Share
ASCA
$2.48M 0.05%
250,000
– –
HERA
144
DELISTED
FTAC Hera Acquisition Corp. Class A Ordinary Shares
HERA
$2.45M 0.04%
250,000
– –
BMAC
145
DELISTED
Black Mountain Acquisition Corp.
BMAC
$2.31M 0.04%
231,829
– –
CCTS
146
DELISTED
Cactus Acquisition Corp. 1 Limited Class A Ordinary Share
CCTS
$2.25M 0.04%
225,876
– –
CFFS
147
DELISTED
CF Acquisition Corp. VII Class A Common Stock
CFFS
$2.2M 0.04%
220,436
– –
LION
148
DELISTED
Lionheart III Corp Class A Common Stock
LION
$2.2M 0.04%
220,436
– –
JMAC
149
DELISTED
Maxpro Capital Acquisition Corp. Class A Common Stock
JMAC
$2.12M 0.04%
210,028
– –
HTAQ
150
DELISTED
Hunt Companies Acquisition Corp. I
HTAQ
$2.11M 0.04%
210,250
– –
4 5
6
7 8

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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.