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 |
Lamb Weston
LW
|
+$273M |
| 2 |
CarMax
KMX
|
+$271M |
| 3 |
GPGI
GPGI Inc
GPGI
|
+$109M |
| 4 |
Riot Platforms
RIOT
|
+$43M |
| 5 |
iShares Core S&P Mid-Cap ETF
IJH
|
+$40.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Autodesk
ADSK
|
+$297M |
| 2 |
Salesforce
CRM
|
+$249M |
| 3 |
Fluor
FLR
|
+$107M |
| 4 |
CWAN
Clearwater Analytics
CWAN
|
+$106M |
| 5 |
Healthcare Realty
HR
|
+$101M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26% |
| 2 | Consumer Staples | 15.94% |
| 3 | Communication Services | 12.32% |
| 4 | Industrials | 11.25% |
| 5 | Consumer Discretionary | 9.09% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Qorvo
QRVO
$8.43B
| $581M | 12.71% |
7,510,871
| – | – |
|
2
Kenvue
KVUE
$36.6B
| $471M | 10.29% |
27,307,632
| – | – |
|
|
3
iShares Core S&P Mid-Cap ETF
IJH
$126B
| $394M | 8.61% |
5,830,656
+580,000
| +11% | +$40.2M |
|
4
Algonquin Power & Utilities
AQN
$4.39B
| $351M | 7.68% |
57,189,420
-6,300,000
| -10% | -$40.8M |
|
5
Match Group
MTCH
$9.38B
| $350M | 7.65% |
11,395,379
| – | – |
|
6
Acacia Research
ACTG
$440M
| $294M | 6.43% |
61,123,595
| – | – |
|
7
BILL Holdings
BILL
$4.76B
| $269M | 5.88% |
7,024,848
| – | – |
|
|
8
Lamb Weston
LW
$7.38B
| $258M | 5.65% |
+6,114,982
| New | +$273M |
|
|
9
CarMax
KMX
$8.82B
| $258M | 5.64% |
+6,201,362
| New | +$271M |
|
|
10
Riot Platforms
RIOT
$7.44B
| $192M | 4.2% |
15,544,576
+2,800,000
| +22% | +$43M |
|
11
Gen Digital
GEN
$17.3B
| $147M | 3.21% |
7,806,922
-2,778,670
| -26% | -$64.3M |
|
12
News Corp Class A
NWSA
$16.4B
| $140M | 3.05% |
5,605,126
-290,361
| -5% | -$7.2M |
|
|
13
Fluor
FLR
$7.01B
| $135M | 2.94% |
2,886,327
-2,305,000
| -44% | -$107M |
|
|
CWAN
14
DELISTED
Clearwater Analytics
CWAN
| $129M | 2.82% |
5,459,031
-4,500,000
| -45% | -$106M |
|
|
15
Healthcare Realty
HR
$6.65B
| $116M | 2.53% |
6,821,267
-5,778,733
| -46% | -$101M |
|
16
TripAdvisor
TRIP
$1.17B
| $115M | 2.51% |
10,774,996
+1,130,000
| +12% | +$13.2M |
|
17
Becton Dickinson
BDX
$52.3B
| $100M | 2.19% |
636,494
-293,423
| -32% | -$53.9M |
|
|
GPGI
18
GPGI Inc
GPGI
$3.71B
| $86M | 1.88% |
+5,027,028
| New | +$109M |
|
19
News Corp Class B
NWS
$18.7B
| $73.8M | 1.61% |
2,589,081
-1,850,000
| -42% | -$52.2M |
|
20
Rogers Corp
ROG
$2.26B
| $62.7M | 1.37% |
584,328
-619,129
| -51% | -$63.7M |
|
21
Bloomin' Brands
BLMN
$996M
| $43.1M | 0.94% |
7,980,992
| – | – |
|
22
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.8B
| $3M | 0.07% |
+3,000,000
| New | +$241M |
|
|
BIXI
23
Bitcoin Infrastructure Acquisition Corp
BIXI
$304M
| $2.98M | 0.07% |
300,000
| – | – |
|
24
PUT
iShares Russell 2000 ETF
IWM
$81.9B
| $2.7M | 0.06% |
+683,100
| New | +$176M |
|
|
25
PUT
Riot Platforms
RIOT
$7.44B
| $705K | 0.02% |
+792,500
| New | +$12.2M |
|
Similar funds
Jeffrey Smith's Q1 2026 Portfolio in Review
As of Q1 2026, Jeffrey Smith held 29 positions worth $4.57B, down 13% from $5.28B the previous quarter. Its ten largest holdings account for 75% of the portfolio.
Jeffrey Smith's Q1 2026 filing shows 7 new, 3 increased, 9 reduced and 3 closed positions. Its largest new stake was Lamb Weston: 6,114,982 shares worth $258M. The largest sale was Autodesk, an estimated $297M.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 42% a quarter earlier, followed by Consumer Staples and Communication Services.
- Jeffrey Smith's largest Q1 2026 buy was Lamb Weston: 6,114,982 shares worth $258M.
- Jeffrey Smith added most to Riot Platforms in Q1 2026, an estimated $43M increase.
- Jeffrey Smith's biggest Q1 2026 reduction was Fluor, cutting an estimated $107M.
- Jeffrey Smith fully exited Autodesk in Q1 2026, selling an estimated $297M.
- Jeffrey Smith's ten largest holdings make up 75% of its $4.57B portfolio in Q1 2026.
- Jeffrey Smith opened 7 new positions and closed 3 in Q1 2026.
- Jeffrey Smith's portfolio value fell 13% quarter-over-quarter to $4.57B.
Based on Starboard Value's 13F filing for Q1 2026, filed 15 May 2026.