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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
GVCI
151
DELISTED
Green Visor Financial Technology Acquisition Corp. I Class A Ordinary Shares
GVCI
$2.1M 0.04%
210,250
– –
NETC
152
DELISTED
Nabors Energy Transition Corp.
NETC
$2.1M 0.04%
210,250
– –
MBSC
153
DELISTED
M3-Brigade Acquisition III Corp.
MBSC
$2.09M 0.04%
209,750
– –
GCTS
154
GCT Semiconductor Holding
GCTS
$188M
$2.09M 0.04%
210,250
– –
ZING
155
DELISTED
FTAC Zeus Acquisition Corp. Class A Common Stock
ZING
$2.08M 0.04%
210,250
– –
LGVC
156
DELISTED
LAMF Global Ventures Corp. I Class A Ordinary Shares
LGVC
$2.07M 0.04%
207,548
– –
CPAR
157
DELISTED
Catalyst Partners Acquisition Corp. Class A Ordinary Share
CPAR
$1.98M 0.04%
203,250
– –
FLYX icon
158
flyExclusive
FLYX
$134M
$1.98M 0.04%
203,250
– –
AAC
159
DELISTED
Ares Acquisition Corporation
AAC
$1.97M 0.04%
200,000
– –
HHLA
160
DELISTED
HH&L Acquisition Co.
HHLA
$1.96M 0.04%
200,000
– –
ACDI
161
DELISTED
Ascendant Digital Acquisition Corp. III
ACDI
$1.81M 0.03%
181,259
– –
APCA
162
DELISTED
AP Acquisition Corp
APCA
$1.77M 0.03%
176,348
– –
VMGA
163
DELISTED
VMG Consumer Acquisition Corp. Class A Common Stock
VMGA
$1.68M 0.03%
168,200
– –
PHYT
164
DELISTED
Pyrophyte Acquisition Corp.
PHYT
$1.68M 0.03%
167,800
– –
NFNT
165
DELISTED
Infinite Acquisition Corp.
NFNT
$1.66M 0.03%
168,200
– –
FLYA
166
DELISTED
SOAR Technology Acquisition Corp.
FLYA
$1.65M 0.03%
161,990
– –
OCEA
167
DELISTED
Ocean Biomedical, Inc. Common Stock
OCEA
$1.46M 0.03%
144,169
– –
LFAC
168
DELISTED
LF Capital Acquisition Corp. II Class A Common Stock
LFAC
$1.4M 0.03%
140,326
– –
TCVA
169
DELISTED
TCV Acquisition Corp. Class A Ordinary Shares
TCVA
$1.33M 0.02%
136,910
– –
RCFA
170
DELISTED
Perception Capital Corp. IV
RCFA
$1.26M 0.02%
127,050
– –
ADAL
171
DELISTED
Anthemis Digital Acquisitions I Corp Class A Ordinary Shares
ADAL
$1.26M 0.02%
125,850
– –
DEVS
172
DELISTED
DevvStream Corp
DEVS
$1.25M 0.02%
12,585
– –
PRBM
173
DELISTED
Parabellum Acquisition Corp.
PRBM
$1.23M 0.02%
125,200
– –
IQMD
174
DELISTED
Intelligent Medicine Acquisition Corp. Class A Common Stock
IQMD
$1.07M 0.02%
106,893
– –
BRD
175
DELISTED
Beard Energy Transition Acquisition Corp.
BRD
$1.04M 0.02%
105,125
– –
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.