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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
PHYT
151
DELISTED
Pyrophyte Acquisition Corp.
PHYT
$1.67M 0.02%
167,800
-24,600
-13% -$244K
VMGA
152
DELISTED
VMG Consumer Acquisition Corp. Class A Common Stock
VMGA
$1.67M 0.02%
+168,200
New +$1.66M
NFNT
153
DELISTED
Infinite Acquisition Corp.
NFNT
$1.66M 0.02%
+168,200
New +$1.65M
FLYA
154
DELISTED
SOAR Technology Acquisition Corp.
FLYA
$1.64M 0.02%
161,990
-24,922
-13% -$251K
OEF icon
155
PUT
iShares S&P 100 ETF
OEF
$20.3B
$1.54M 0.02%
+1,450,000
New +$298M
OCEA
156
DELISTED
Ocean Biomedical, Inc. Common Stock
OCEA
$1.46M 0.02%
144,169
-21,135
-13% -$212K
LFAC
157
DELISTED
LF Capital Acquisition Corp. II Class A Common Stock
LFAC
$1.4M 0.02%
+140,326
New +$1.39M
TCVA
158
DELISTED
TCV Acquisition Corp. Class A Ordinary Shares
TCVA
$1.34M 0.02%
136,910
-6,040
-4% -$58.7K
RCFA
159
DELISTED
Perception Capital Corp. IV
RCFA
$1.26M 0.02%
+127,050
New +$1.26M
ADAL
160
DELISTED
Anthemis Digital Acquisitions I Corp Class A Ordinary Shares
ADAL
$1.25M 0.02%
125,850
-18,450
-13% -$183K
DEVS
161
DELISTED
DevvStream Corp
DEVS
$1.25M 0.02%
12,585
-1,845
-13% -$182K
PRBM
162
DELISTED
Parabellum Acquisition Corp.
PRBM
$1.23M 0.02%
125,200
-18,800
-13% -$184K
IQMD
163
DELISTED
Intelligent Medicine Acquisition Corp. Class A Common Stock
IQMD
$1.07M 0.01%
106,893
+10,693
+11% +$106K
BRD
164
DELISTED
Beard Energy Transition Acquisition Corp.
BRD
$1.04M 0.01%
+105,125
New +$1.04M
CIIG
165
DELISTED
CIIG Capital Partners II, Inc. Class A Common Stock
CIIG
$878K 0.01%
88,551
-13,606
-13% -$134K
BCSA
166
DELISTED
Blockchain Coinvestors Acquisition Corp. I Class A Ordinary Shares
BCSA
$835K 0.01%
+84,100
New +$830K
OKLO
167
Oklo
OKLO
$7.83B
$803K 0.01%
82,300
-13,700
-14% -$134K
LVAC
168
DELISTED
LAVA Medtech Acquisition Corp. Class A Common Stock
LVAC
$419K 0.01%
41,950
-6,150
-13% -$61K
CERO
169
DELISTED
CERo Therapeutics
CERO
$213K ﹤0.01%
11
-1
-8% -$19.9K
ARCK
170
DELISTED
Arbor Rapha Capital Bioholdings Corp. I Class A Common Stock
ARCK
$210K ﹤0.01%
20,975
-3,075
-13% -$30.8K
FRGE
171
DELISTED
Forge Global Holdings
FRGE
– –
-20,000
Closed -$2.95M
IWM icon
172
PUT
iShares Russell 2000 ETF
IWM
$81.9B
– –
-1,350,000
Closed -$2.5M
SST icon
173
System1
SST
$16.8M
– –
-68,010
Closed -$6.77M
BRKHU
174
DELISTED
BurTech Acquisition Corp. Unit
BRKHU
– –
-750,000
Closed -$7.51M
EVE.U
175
DELISTED
EVe Mobility Acquisition Corp Units, each consisting of one Class A ordinary share and one-half of one redeemable warrant
EVE.U
– –
-500,000
Closed -$5M
5 6
7
8 9

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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.