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 |
Qorvo
QRVO
|
+$630M |
| 2 |
Becton Dickinson
BDX
|
+$406M |
| 3 |
Autodesk
ADSK
|
+$274M |
| 4 |
Salesforce
CRM
|
+$90.3M |
| 5 |
Algonquin Power & Utilities
AQN
|
+$5.27M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GoDaddy
GDDY
|
+$559M |
| 2 |
Pfizer
PFE
|
+$200M |
| 3 |
WIX.com
WIX
|
+$180M |
| 4 |
Fortrea Holdings
FTRE
|
+$31.2M |
| 5 |
iShares Core S&P Mid-Cap ETF
IJH
|
+$24.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 39.17% |
| 2 | Communication Services | 15.87% |
| 3 | Healthcare | 11.57% |
| 4 | Consumer Staples | 9.62% |
| 5 | Utilities | 6.21% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Qorvo
QRVO
$8.43B
| $599M | 10.89% |
+8,270,000
| New | +$630M |
|
2
Kenvue
KVUE
$36.6B
| $529M | 9.62% |
22,054,000
+140,000
| +0.6% | +$3.1M |
|
|
3
Autodesk
ADSK
$53.6B
| $524M | 9.52% |
2,000,000
+962,000
| +93% | +$274M |
|
4
Gen Digital
GEN
$17.3B
| $465M | 8.45% |
17,516,604
| – | – |
|
5
Match Group
MTCH
$9.38B
| $439M | 7.99% |
14,085,901
-571,069
| -4% | -$18.7M |
|
|
6
Becton Dickinson
BDX
$52.3B
| $401M | 7.29% |
+1,749,000
| New | +$406M |
|
|
7
Algonquin Power & Utilities
AQN
$4.39B
| $341M | 6.21% |
66,433,000
+1,117,000
| +2% | +$5.27M |
|
8
Healthcare Realty
HR
$6.65B
| $339M | 6.17% |
20,072,000
-111,460
| -0.6% | -$1.85M |
|
9
Alight
ALIT
$379M
| $284M | 5.17% |
2,396,200
+34,800
| +1% | +$4.58M |
|
10
News Corp Class B
NWS
$18.7B
| $237M | 4.32% |
7,814,831
-667,169
| -8% | -$21.1M |
|
|
11
Salesforce
CRM
$171B
| $228M | 4.15% |
849,679
+290,415
| +52% | +$90.3M |
|
|
12
iShares Core S&P Mid-Cap ETF
IJH
$126B
| $208M | 3.78% |
3,564,875
-400,393
| -10% | -$24.9M |
|
13
News Corp Class A
NWSA
$16.4B
| $196M | 3.57% |
7,201,393
| – | – |
|
|
14
Pfizer
PFE
$160B
| $196M | 3.56% |
7,731,000
-7,637,658
| -50% | -$200M |
|
15
Acacia Research
ACTG
$440M
| $196M | 3.56% |
61,123,595
| – | – |
|
16
Riot Platforms
RIOT
$7.44B
| $90.4M | 1.64% |
12,700,000
-4,035
| -0% | -$41.8K |
|
17
Bloomin' Brands
BLMN
$996M
| $60.5M | 1.1% |
8,441,000
| – | – |
|
18
Rogers Corp
ROG
$2.26B
| $54.3M | 0.99% |
804,000
| – | – |
|
|
19
Fortrea Holdings
FTRE
$1.75B
| $39.8M | 0.72% |
5,268,000
-2,210,000
| -30% | -$31.2M |
|
20
Green Dot
GDOT
$766M
| $38.9M | 0.71% |
4,604,381
| – | – |
|
21
RB Global
RBA
$16.1B
| $25.2M | 0.46% |
251,163
| – | – |
|
|
22
GoDaddy
GDDY
$12.3B
| – | – |
-2,830,100
| Closed | -$559M |
|
|
23
WIX.com
WIX
$3.43B
| – | – |
-840,000
| Closed | -$180M |
|
Similar funds
Jeffrey Smith's Q1 2025 Portfolio in Review
As of Q1 2025, Jeffrey Smith held 24 positions worth $5.5B, down 0.54% from $5.53B the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Jeffrey Smith deployed $369M of net new capital in Q1 2025, opening 2 new positions and adding to 5 existing holdings. Its largest new stake was Qorvo: 8,270,000 shares worth $599M.
By sector, the portfolio is most concentrated in Technology at 39% of assets, up from 38% a quarter earlier, followed by Communication Services and Healthcare.
On the sell side, the largest reduction was Pfizer, an estimated $200M trimmed.
- Jeffrey Smith's largest Q1 2025 buy was Qorvo: 8,270,000 shares worth $599M.
- Jeffrey Smith added most to Autodesk in Q1 2025, an estimated $274M increase.
- Jeffrey Smith's biggest Q1 2025 reduction was Pfizer, cutting an estimated $200M.
- Jeffrey Smith fully exited GoDaddy in Q1 2025, selling an estimated $559M.
- Jeffrey Smith's ten largest holdings make up 76% of its $5.5B portfolio in Q1 2025.
- Jeffrey Smith opened 2 new positions and closed 2 in Q1 2025.
- Jeffrey Smith's portfolio value fell 0.54% quarter-over-quarter to $5.5B.
Based on Starboard Value's 13F filing for Q1 2025, filed 15 May 2025.