Jeffrey Smith Starboard Value
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Russell 2000 ETF
IWM
|
+$128M |
| 2 |
iShares Russell Mid-Cap ETF
IWR
|
+$21.1M |
| 3 |
ACI Worldwide
ACIW
|
+$16.3M |
| 4 |
Pediatrix Medical
MD
|
+$8.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
eBay
EBAY
|
+$246M |
| 2 |
iShares Russell 2000 Value ETF
IWN
|
+$58.3M |
| 3 |
CERN
Cerner Corp
CERN
|
+$57.2M |
| 4 |
Gen Digital
GEN
|
+$52.6M |
| 5 |
Box
BOX
|
+$46.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 32.04% |
| 2 | Healthcare | 24.79% |
| 3 | Consumer Discretionary | 16.97% |
| 4 | Industrials | 8% |
| 5 | Financials | 7.74% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Gen Digital
GEN
$17.3B
| $478M | 17.02% |
24,084,934
-2,583,157
| -10% | -$52.6M |
|
2
Advance Auto Parts
AAP
$2.57B
| $367M | 13.06% |
2,573,397
| – | – |
|
3
Aecom
ACM
$8.34B
| $225M | 8% |
5,975,266
| – | – |
|
4
Green Dot
GDOT
$766M
| $217M | 7.74% |
4,426,000
-534,000
| -11% | -$18.1M |
|
5
Merit Medical Systems
MMSI
$5.42B
| $197M | 7.03% |
4,321,000
-520,860
| -11% | -$21M |
|
|
6
Box
BOX
$4.56B
| $188M | 6.69% |
9,044,000
-2,630,546
| -23% | -$46.2M |
|
|
CERN
7
DELISTED
Cerner Corp
CERN
| $181M | 6.45% |
2,642,253
-832,747
| -24% | -$57.2M |
|
|
MGLN
8
DELISTED
Magellan Health Services, Inc.
MGLN
| $173M | 6.16% |
2,369,100
| – | – |
|
9
Commault Systems
CVLT
$5.55B
| $169M | 6.02% |
4,366,456
-249,544
| -5% | -$9.9M |
|
|
10
Pediatrix Medical
MD
$2.16B
| $144M | 5.15% |
8,450,000
+560,000
| +7% | +$8.3M |
|
|
GCP
11
DELISTED
GCP Applied Technologies Inc.
GCP
| $122M | 4.33% |
6,540,000
| – | – |
|
|
12
eBay
EBAY
$46.3B
| $110M | 3.91% |
2,090,000
-5,830,000
| -74% | -$246M |
|
|
13
iShares Russell 2000 ETF
IWM
$81.9B
| $95.1M | 3.39% |
+975,777
| New | +$128M |
|
|
14
ACI Worldwide
ACIW
$5.24B
| $55.7M | 1.99% |
2,065,000
+622,000
| +43% | +$16.3M |
|
|
15
iShares Russell 2000 Value ETF
IWN
$14.6B
| $48M | 1.71% |
335,000
-640,777
| -66% | -$58.3M |
|
|
16
iShares Russell Mid-Cap ETF
IWR
$57.7B
| $22.5M | 0.8% |
+420,000
| New | +$21.1M |
|
17
Comscore
SCOR
$77.1M
| $9.24M | 0.33% |
149,119
| – | – |
|
|
18
PUT
iShares Russell 2000 Value ETF
IWN
$14.6B
| $6.25M | 0.22% |
+2,220,000
| New | +$202M |
|
|
19
CALL
iShares Russell 2000 ETF
IWM
$81.9B
| $239K | 0.01% |
+330,000
| New | +$43.3M |
|
|
20
CALL
iShares Russell 2000 Value ETF
IWN
$14.6B
| $149K | 0.01% |
+850,000
| New | +$77.3M |
|
21
CALL
Textron
TXT
$14.3B
| $32K | ﹤0.01% |
+200,000
| New | +$5.91M |
|
|
22
PUT
iShares Russell 2000 ETF
IWM
$81.9B
| – | – |
-3,500,000
| Closed | -$5.17M |
|
|
23
PUT
iShares Russell Mid-Cap ETF
IWR
$57.7B
| – | – |
-125,000
| Closed | -$613K |
|
24
Resideo Technologies
REZI
$3.08B
| – | – |
-2,619,000
| Closed | -$12.7M |
|
Similar funds
Jeffrey Smith's Q2 2020 Portfolio in Review
As of Q2 2020, Jeffrey Smith held 24 positions worth $2.81B, up 14% from $2.47B the previous quarter. Its ten largest holdings account for 83% of the portfolio.
Jeffrey Smith's Q2 2020 filing shows 6 new, 2 increased, 8 reduced and 3 closed positions. Its largest new stake was iShares Russell 2000 ETF: 975,777 shares worth $95.1M. The largest sale was eBay, an estimated $246M.
By sector, the portfolio is most concentrated in Technology at 32% of assets, down from 36% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Jeffrey Smith's largest Q2 2020 buy was iShares Russell 2000 ETF: 975,777 shares worth $95.1M.
- Jeffrey Smith added most to ACI Worldwide in Q2 2020, an estimated $16.3M increase.
- Jeffrey Smith's biggest Q2 2020 reduction was eBay, cutting an estimated $246M.
- Jeffrey Smith fully exited Resideo Technologies in Q2 2020, selling an estimated $12.7M.
- Jeffrey Smith's ten largest holdings make up 83% of its $2.81B portfolio in Q2 2020.
- Jeffrey Smith opened 6 new positions and closed 3 in Q2 2020.
- Jeffrey Smith's portfolio value rose 14% quarter-over-quarter to $2.81B.
Based on Starboard Value's 13F filing for Q2 2020, filed 14 Aug 2020.