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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
-3.71%
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
$4.55B
AUM Growth
-$954M
Cap. Flow
-$946M
Cap. Flow %
-20.81%
Top 10 Hldgs %
71.53%
Holding
188
New
5
Increased
3
Reduced
11
Closed
11

Top Buys

Rank Stock Value
1
WIX icon
WIX.com
WIX
+$177M
2
IWN icon
iShares Russell 2000 Value ETF
IWN
+$86.7M
3
BOAS
BOA Acquisition Corp.
BOAS
+$4.27M
4
CNTM
ConnectM Technology Solutions, Inc. Common Stock
CNTM
+$3.7M
5
ACAC
Acri Capital Acquisition Corp
ACAC
+$3M

Top Sells

Rank Stock Value
1
GCP
GCP Applied Technologies Inc.
GCP
+$205M
2
ON icon
ON Semiconductor
ON
+$204M
3
ELAN icon
Elanco Animal Health
ELAN
+$113M
4
ACIW icon
ACI Worldwide
ACIW
+$99.2M
5
HUN icon
Huntsman Corp
HUN
+$89.4M

Sector Composition

Rank Sector Weight
1 Technology 36.35%
2 Financials 22.27%
3 Industrials 14.46%
4 Healthcare 14.02%
5 Consumer Discretionary 4.51%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ARCK
176
DELISTED
Arbor Rapha Capital Bioholdings Corp. I Class A Common Stock
ARCK
$212K ﹤0.01%
20,975
– –
OEF icon
177
PUT
iShares S&P 100 ETF
OEF
$20.3B
$124K ﹤0.01%
400,000
-1,870,000
-82% -$339M
BURU
178
DELISTED
NUBURU INC
BURU
– –
-1,639
Closed -$3.26M
CTVA icon
179
Corteva
CTVA
$54.6B
– –
-1,017,794
Closed -$55.1M
ELAN icon
180
Elanco Animal Health
ELAN
$12B
– –
-5,731,575
Closed -$113M
IVCAW
181
DELISTED
Investcorp AI Acquisition Corp. Warrant
IVCAW
– –
-254,049
Closed -$38K
KSS icon
182
Kohl's
KSS
$2B
– –
-535,029
Closed -$19.1M
MMSI icon
183
Merit Medical Systems
MMSI
$5.42B
– –
-579,658
Closed -$31.5M
QTI
184
QT Imaging Holdings
QTI
$42.6M
– –
-457,600
Closed -$4.59M
ACACU
185
DELISTED
Acri Capital Acquisition Corp Unit
ACACU
– –
-300,000
Closed -$3M
MCACU
186
DELISTED
Monterey Capital Acquisition Corporation Unit
MCACU
– –
-375,000
Closed -$3.73M
GCP
187
DELISTED
GCP Applied Technologies Inc.
GCP
– –
-6,540,000
Closed -$205M
PRPB
188
DELISTED
CC Neuberger Principal Holdings II Class A Ordinary Shares
PRPB
– –
-339,324
Closed -$3.39M
4 5 6 7
8

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Jeffrey Smith's Q3 2022 Portfolio in Review

As of Q3 2022, Jeffrey Smith held 188 positions worth $4.55B, down 17% from $5.5B the previous quarter. Its ten largest holdings account for 72% of the portfolio.

Jeffrey Smith withdrew a net $946M in Q3 2022, closing 11 positions and reducing 11 holdings. Its most notable exit was GCP Applied Technologies Inc., an estimated $205M position sold in full.

By sector, the portfolio is most concentrated in Technology at 36% of assets, up from 33% a quarter earlier, followed by Financials and Industrials.

Against the trend, Jeffrey Smith opened a new position in WIX.com worth $201M.

  • Jeffrey Smith's largest Q3 2022 buy was WIX.com: 2,567,966 shares worth $201M.
  • Jeffrey Smith added most to Atlantic Coastal Acquisition Corp. Class A Common Stock in Q3 2022, an estimated $2.94M increase.
  • Jeffrey Smith's biggest Q3 2022 reduction was ON Semiconductor, cutting an estimated $204M.
  • Jeffrey Smith fully exited GCP Applied Technologies Inc. in Q3 2022, selling an estimated $205M.
  • Jeffrey Smith's ten largest holdings make up 72% of its $4.55B portfolio in Q3 2022.
  • Jeffrey Smith opened 5 new positions and closed 11 in Q3 2022.
  • Jeffrey Smith's portfolio value fell 17% quarter-over-quarter to $4.55B.

Based on Starboard Value's 13F filing for Q3 2022, filed 14 Nov 2022.