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 |
Alight
ALIT
|
+$360M |
| 2 |
News Corp Class A
NWSA
|
+$108M |
| 3 |
Rogers Corp
ROG
|
+$40.9M |
| 4 |
Mercury Systems
MRCY
|
+$15.6M |
| 5 |
Algonquin Power & Utilities
AQN
|
+$909K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vertiv
VRT
|
+$125M |
| 2 |
GoDaddy
GDDY
|
+$121M |
| 3 |
WIX.com
WIX
|
+$120M |
| 4 |
Salesforce
CRM
|
+$94.6M |
| 5 |
Aecom
ACM
|
+$85.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 48.86% |
| 2 | Healthcare | 11.39% |
| 3 | Industrials | 10.49% |
| 4 | Utilities | 8.11% |
| 5 | Communication Services | 8.1% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
GoDaddy
GDDY
$12.3B
| $762M | 15.74% |
6,421,462
-1,091,309
| -15% | -$121M |
|
2
Gen Digital
GEN
$17.3B
| $417M | 8.61% |
18,608,904
| – | – |
|
|
3
Algonquin Power & Utilities
AQN
$4.39B
| $393M | 8.11% |
62,141,000
+150,000
| +0.2% | +$909K |
|
|
4
Alight
ALIT
$379M
| $392M | 8.1% |
+1,990,350
| New | +$360M |
|
|
5
Salesforce
CRM
$171B
| $364M | 7.52% |
1,208,475
-327,978
| -21% | -$94.6M |
|
6
Humana
HUM
$45.5B
| $338M | 6.99% |
976,000
-18,146
| -2% | -$6.88M |
|
|
7
WIX.com
WIX
$3.43B
| $334M | 6.91% |
2,432,000
-911,000
| -27% | -$120M |
|
8
Acacia Research
ACTG
$440M
| $326M | 6.73% |
61,123,595
| – | – |
|
9
iShares Russell 2000 Value ETF
IWN
$14.6B
| $271M | 5.59% |
1,705,000
-100,000
| -6% | -$15.1M |
|
10
Bloomin' Brands
BLMN
$996M
| $242M | 5% |
8,441,000
| – | – |
|
11
News Corp Class B
NWS
$18.7B
| $236M | 4.88% |
8,732,000
| – | – |
|
12
Fortrea Holdings
FTRE
$1.75B
| $213M | 4.4% |
5,302,000
-2,293,000
| -30% | -$79.5M |
|
|
13
News Corp Class A
NWSA
$16.4B
| $156M | 3.22% |
5,957,000
+4,257,000
| +250% | +$108M |
|
|
14
Rogers Corp
ROG
$2.26B
| $95.4M | 1.97% |
804,000
+350,000
| +77% | +$40.9M |
|
|
15
Aecom
ACM
$8.34B
| $84.3M | 1.74% |
859,000
-950,000
| -53% | -$85.9M |
|
|
16
Mercury Systems
MRCY
$5.49B
| $78.6M | 1.62% |
2,664,000
+519,000
| +24% | +$15.6M |
|
17
Green Dot
GDOT
$766M
| $46.8M | 0.97% |
5,018,381
-275,729
| -5% | -$2.43M |
|
18
iShares Russell Mid-Cap ETF
IWR
$57.7B
| $44.1M | 0.91% |
525,000
-50,000
| -9% | -$3.96M |
|
19
RB Global
RBA
$16.1B
| $19.1M | 0.4% |
251,163
| – | – |
|
|
20
PUT
Humana
HUM
$45.5B
| $1.33M | 0.03% |
+170,000
| New | +$64.4M |
|
|
ALCY
21
DELISTED
Alchemy Investments Acquisition Corp 1
ALCY
| – | – |
-350,000
| Closed | -$3.65M |
|
22
PUT
iShares Russell 2000 ETF
IWM
$81.9B
| – | – |
-4,900,000
| Closed | -$11M |
|
|
KVAC
23
DELISTED
Keen Vision Acquisition Corp
KVAC
| – | – |
-300,000
| Closed | -$3.1M |
|
|
SVII
24
DELISTED
Spring Valley Acquisition Corp II
SVII
| – | – |
-850,000
| Closed | -$9.19M |
|
|
25
Vertiv
VRT
$101B
| – | – |
-2,609,588
| Closed | -$125M |
|
Similar funds
Jeffrey Smith's Q1 2024 Portfolio in Review
As of Q1 2024, Jeffrey Smith held 29 positions worth $4.84B, up 0.67% from $4.81B the previous quarter. Its ten largest holdings account for 79% of the portfolio.
Jeffrey Smith's Q1 2024 filing shows 2 new, 4 increased, 9 reduced and 6 closed positions. Its largest new stake was Alight: 1,990,350 shares worth $392M. The largest sale was Vertiv, an estimated $125M.
By sector, the portfolio is most concentrated in Technology at 49% of assets, up from 44% a quarter earlier, followed by Healthcare and Industrials.
- Jeffrey Smith's largest Q1 2024 buy was Alight: 1,990,350 shares worth $392M.
- Jeffrey Smith added most to News Corp Class A in Q1 2024, an estimated $108M increase.
- Jeffrey Smith's biggest Q1 2024 reduction was GoDaddy, cutting an estimated $121M.
- Jeffrey Smith fully exited Vertiv in Q1 2024, selling an estimated $125M.
- Jeffrey Smith's ten largest holdings make up 79% of its $4.84B portfolio in Q1 2024.
- Jeffrey Smith opened 2 new positions and closed 6 in Q1 2024.
- Jeffrey Smith's portfolio value rose 0.67% quarter-over-quarter to $4.84B.
Based on Starboard Value's 13F filing for Q1 2024, filed 15 May 2024.