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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
CIIG
176
DELISTED
CIIG Capital Partners II, Inc. Class A Common Stock
CIIG
$876K 0.02%
88,551
– –
BCSA
177
DELISTED
Blockchain Coinvestors Acquisition Corp. I Class A Ordinary Shares
BCSA
$834K 0.02%
84,100
– –
OKLO
178
Oklo
OKLO
$7.83B
$794K 0.01%
82,300
– –
CHEA
179
DELISTED
Chenghe Acquisition Co. Class A Ordinary Share
CHEA
$500K 0.01%
+50,000
New +$500K
LVAC
180
DELISTED
LAVA Medtech Acquisition Corp. Class A Common Stock
LVAC
$418K 0.01%
41,950
– –
CERO
181
DELISTED
CERo Therapeutics
CERO
$213K ﹤0.01%
11
– –
ARCK
182
DELISTED
Arbor Rapha Capital Bioholdings Corp. I Class A Common Stock
ARCK
$211K ﹤0.01%
20,975
– –
IVCAW
183
DELISTED
Investcorp AI Acquisition Corp. Warrant
IVCAW
$38K ﹤0.01%
+254,049
New +$37.9K
VMCAU
184
DELISTED
Valuence Merger Corp. I Unit
VMCAU
– –
-500,000
Closed -$5.01M
FTIIU
185
DELISTED
FutureTech II Acquisition Corp. Unit
FTIIU
– –
-450,000
Closed -$4.51M
EVGRU
186
DELISTED
Evergreen Corporation Unit
EVGRU
– –
-475,000
Closed -$4.75M
ZFOX
187
DELISTED
ZeroFox Holdings, Inc. Common Stock
ZFOX
– –
-405,336
Closed -$4.1M
NUBIU
188
DELISTED
Nubia Brand International Corp. Unit
NUBIU
– –
-489,178
Closed -$4.89M
CLINU
189
DELISTED
Clean Earth Acquisitions Corp. Unit
CLINU
– –
-750,000
Closed -$7.53M
SHUAU
190
DELISTED
SHUAA Partners Acquisition Corp I Unit
SHUAU
– –
-450,000
Closed -$4.51M
JGGCU
191
DELISTED
Jaguar Global Growth Corporation I Unit
JGGCU
– –
-500,000
Closed -$5.03M
GENQU
192
DELISTED
Genesis Unicorn Capital Corp. Unit
GENQU
– –
-325,000
Closed -$3.25M
SPCMU
193
DELISTED
Sound Point Acquisition Corp I, Ltd Unit
SPCMU
– –
-500,000
Closed -$5.03M
CPAQU
194
DELISTED
Counter Press Acquisition Corporation Unit
CPAQU
– –
-300,000
Closed -$3.02M
ETAC
195
DELISTED
E.Merge Technology Acquisition Corp. Class A Common Stock
ETAC
– –
-1,446,500
Closed -$14.3M
CERN
196
DELISTED
Cerner Corp
CERN
– –
-2,257,406
Closed -$211M
HNRA.U
197
DELISTED
HNR Acquisition Corp Units, each consisting of one share of Common Stock, and one redeemable Warrant
HNRA.U
– –
-400,000
Closed -$4.02M
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.