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 |
Autodesk
ADSK
|
+$466M |
| 2 |
Match Group
MTCH
|
+$334M |
| 3 |
iShares Russell 2000 Value ETF
IWN
|
+$12.2M |
| 4 |
Fortrea Holdings
FTRE
|
+$9.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GoDaddy
GDDY
|
+$226M |
| 2 |
Humana
HUM
|
+$112M |
| 3 |
Mercury Systems
MRCY
|
+$61.9M |
| 4 |
Salesforce
CRM
|
+$61.5M |
| 5 |
Aecom
ACM
|
+$55.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 55.32% |
| 2 | Communication Services | 16.95% |
| 3 | Utilities | 7.2% |
| 4 | Industrials | 6.48% |
| 5 | Healthcare | 4.86% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Autodesk
ADSK
$53.6B
| $510M | 10.85% |
+1,852,000
| New | +$466M |
|
|
2
GoDaddy
GDDY
$12.3B
| $491M | 10.45% |
3,134,093
-1,478,276
| -32% | -$226M |
|
3
Gen Digital
GEN
$17.3B
| $480M | 10.21% |
17,516,604
| – | – |
|
|
4
Salesforce
CRM
$171B
| $395M | 8.39% |
1,441,848
-240,022
| -14% | -$61.5M |
|
|
5
Match Group
MTCH
$9.38B
| $362M | 7.69% |
+9,556,146
| New | +$334M |
|
6
Algonquin Power & Utilities
AQN
$4.39B
| $339M | 7.2% |
62,141,000
| – | – |
|
7
Alight
ALIT
$379M
| $321M | 6.83% |
2,169,750
| – | – |
|
8
WIX.com
WIX
$3.43B
| $314M | 6.67% |
1,877,000
| – | – |
|
9
Acacia Research
ACTG
$440M
| $285M | 6.05% |
61,123,595
| – | – |
|
10
News Corp Class B
NWS
$18.7B
| $244M | 5.19% |
8,732,000
| – | – |
|
|
11
iShares Russell 2000 Value ETF
IWN
$14.6B
| $226M | 4.81% |
1,355,000
+75,000
| +6% | +$12.2M |
|
12
News Corp Class A
NWSA
$16.4B
| $192M | 4.08% |
7,201,393
| – | – |
|
|
13
Fortrea Holdings
FTRE
$1.75B
| $168M | 3.57% |
8,400,000
+400,000
| +5% | +$9.4M |
|
14
Bloomin' Brands
BLMN
$996M
| $140M | 2.97% |
8,441,000
| – | – |
|
15
Rogers Corp
ROG
$2.26B
| $90.9M | 1.93% |
804,000
| – | – |
|
|
16
Humana
HUM
$45.5B
| $60.5M | 1.29% |
191,000
-316,000
| -62% | -$112M |
|
17
Green Dot
GDOT
$766M
| $58.8M | 1.25% |
5,018,381
| – | – |
|
18
RB Global
RBA
$16.1B
| $20.2M | 0.43% |
251,163
| – | – |
|
|
19
PUT
Humana
HUM
$45.5B
| $666K | 0.01% |
+60,000
| New | +$21.4M |
|
|
20
Aecom
ACM
$8.34B
| – | – |
-625,438
| Closed | -$55.1M |
|
21
iShares Russell Mid-Cap ETF
IWR
$57.7B
| – | – |
-300,000
| Closed | -$24.3M |
|
|
22
Mercury Systems
MRCY
$5.49B
| – | – |
-2,294,000
| Closed | -$61.9M |
|
Similar funds
Jeffrey Smith's Q3 2024 Portfolio in Review
As of Q3 2024, Jeffrey Smith held 23 positions worth $4.7B, up 9.5% from $4.3B the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Jeffrey Smith deployed $295M of net new capital in Q3 2024, opening 3 new positions and adding to 2 existing holdings. Its largest new stake was Autodesk: 1,852,000 shares worth $510M.
By sector, the portfolio is most concentrated in Technology at 55% of assets, up from 52% a quarter earlier, followed by Communication Services and Utilities.
On the sell side, the largest reduction was GoDaddy, an estimated $226M trimmed.
- Jeffrey Smith's largest Q3 2024 buy was Autodesk: 1,852,000 shares worth $510M.
- Jeffrey Smith added most to iShares Russell 2000 Value ETF in Q3 2024, an estimated $12.2M increase.
- Jeffrey Smith's biggest Q3 2024 reduction was GoDaddy, cutting an estimated $226M.
- Jeffrey Smith fully exited Mercury Systems in Q3 2024, selling an estimated $61.9M.
- Jeffrey Smith's ten largest holdings make up 80% of its $4.7B portfolio in Q3 2024.
- Jeffrey Smith opened 3 new positions and closed 3 in Q3 2024.
- Jeffrey Smith's portfolio value rose 9.5% quarter-over-quarter to $4.7B.
Based on Starboard Value's 13F filing for Q3 2024, filed 14 Nov 2024.