Starboard Value (Jeffrey Smith) latest 13F portfolio: 25 holdings worth $4.6B as of Q1 2026.
Backtested since 2020: mirroring Starboard Value's reported 13F equity holdings each quarter would have returned +95.5% versus +184.1%for the S&P 500 (+11.4% annualized). See the Performance tab for the full equity curve.
Investor: Jeffrey Smith
Number of Assets: 25
Reporting Period: Q1 - 2026
Holdings at Report: $4,574,720,469
Return $ Since Report: +$1,349,366,192
Return % Since Report: +29.50%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Composecure Inc. (CMPO) | Equity | +100% | 5,027,028 | 1.88% | $17.10 | $14.98 | $85,962,179 | $75,304,879 | -$10,657,300 | -12.40% |
| Bitcoin Infrastructure Acqui | Equity | 0% | 300,000 | 0.07% | $9.92 | N/A | $2,976,000 | N/A | N/A | N/A |
| Bitcoin Infrastructure Acqui | Warrant | +100% | 149,999 | N/A | $0.30 | N/A | $44,550 | N/A | N/A | N/A |
| Clearwater Analytics Holdings Inc. (CWAN) | Equity | -45.19% | 5,459,031 | 2.82% | $23.65 | $24.56 | $129,106,083 | $134,073,801 | +$4,967,718 | +3.85% |
| Acacia Research Corp. (ACTG) | Equity | 0% | 61,123,595 | 6.43% | $4.81 | $4.65 | $294,004,492 | $284,224,717 | -$9,779,775 | -3.33% |
| Algonquin Power & Utilities Corp. (AQN) | Equity | -9.92% | 57,189,420 | 7.68% | $6.14 | $5.67 | $351,143,039 | $323,978,064 | -$27,164,975 | -7.74% |
| Becton Dickinson And Company (BDX) | Equity | -31.55% | 636,494 | 2.19% | $157.23 | $176.73 | $100,075,952 | $112,487,585 | +$12,411,633 | +12.40% |
| Bill Holdings Inc. (BILL) | Equity | 0% | 7,024,848 | 5.88% | $38.30 | $48.65 | $269,051,678 | $341,758,855 | +$72,707,177 | +27.02% |
| Healthcare Realty Trust Inc. (HR) | Equity | -45.86% | 6,821,267 | 2.53% | $16.99 | $20.17 | $115,893,326 | $137,550,849 | +$21,657,523 | +18.69% |
| Ishares Core S&P Mid-Cap ETF (IJH) | Equity | +11.05% | 5,830,656 | 8.61% | $67.53 | $77.63 | $393,744,200 | $452,633,825 | +$58,889,625 | +14.96% |
| Ishares Russell 2000 ETF (IWM) | Equity | +398.61% | 683,100 | 0.06% | $3.96 | $300.95 | $2,701,661 | $205,578,945 | +$202,877,284 | +7509.35% |
| Lamb Weston Holdings Inc. (LW) | Equity | +100% | 6,114,982 | 5.65% | $42.26 | $52.06 | $258,419,139 | $318,315,388 | +$59,896,249 | +23.18% |
| Kenvue Inc. (KVUE) | Equity | 0% | 27,307,632 | 10.29% | $17.24 | $19.17 | $470,783,576 | $523,487,305 | +$52,703,729 | +11.19% |
| News Corp. (NWS) | Equity | -41.68% | 2,589,081 | 1.61% | $28.51 | $33.17 | $73,814,699 | $85,879,817 | +$12,065,118 | +16.35% |
| Rogers Corp. (ROG) | Equity | -51.45% | 584,328 | 1.37% | $107.33 | $133.59 | $62,715,924 | $78,060,378 | +$15,344,454 | +24.47% |
| Tripadvisor Inc. (TRIP) | Equity | +11.72% | 10,774,996 | 2.51% | $10.66 | $11.00 | $114,861,457 | $118,557,281 | +$3,695,824 | +3.22% |
| Riot Platforms Inc. (RIOT) | Equity | +28.19% | 16,337,076 | 4.22% | $11.80 | $20.63 | $192,836,284 | $337,033,878 | +$144,197,594 | +74.78% |
| Bloomin' Brands Inc. (BLMN) | Equity | 0% | 7,980,992 | 0.94% | $5.40 | $11.08 | $43,097,357 | $88,429,391 | +$45,332,034 | +105.19% |
| Carmax Inc. (KMX) | Equity | +100% | 6,201,362 | 5.64% | $41.58 | $58.58 | $257,852,632 | $363,275,786 | +$105,423,154 | +40.89% |
| Fluor Corp. (FLR) | Equity | -44.40% | 2,886,327 | 2.94% | $46.65 | $55.61 | $134,647,155 | $160,508,644 | +$25,861,489 | +19.21% |
| Gen Digital Inc. (GEN) | Equity | -26.25% | 7,806,922 | 3.21% | $18.83 | $29.00 | $147,004,341 | $226,361,703 | +$79,357,362 | +53.98% |
| Ishares Iboxx $ High Yield Corp.Orate Bond ETF (HYG) | Equity | +100% | 3,000,000 | 0.07% | $1.00 | $79.60 | $3,000,000 | $238,785,000 | +$235,785,000 | +7859.50% |
| Match Group Inc. (MTCH) | Equity | 0% | 11,395,379 | 7.65% | $30.71 | $37.43 | $349,952,089 | $426,529,036 | +$76,576,947 | +21.88% |
| News Corp. (NWSA) | Equity | -4.93% | 5,605,126 | 3.05% | $24.93 | $29.02 | $139,735,791 | $162,632,731 | +$22,896,940 | +16.39% |
| Qorvo Inc. (QRVO) | Equity | 0% | 7,510,871 | 12.71% | $77.40 | $96.62 | $581,341,415 | $725,662,802 | +$144,321,387 | +24.83% |