Jeffrey Smith – Starboard Value LP

Period:
Q1 2026
Portfolio date:
Mar 31, 2026
No. of stocks:
21
Portfolio value:
$4,574,764,000
Filed:
May 15, 2026
Style:
Activist
HistStockActivityShare change% change to portfolio
Q1 2026filed May 15, 265 new4 added9 reduced2 exited
≡LW – LAMB WESTON HLDGS INCBuy6,114,9825.65
≡KMX – CARMAX INCBuy6,201,3625.64
≡ADSK – AUTODESK INCSell−1,001,733−5.62
≡CRM – SALESFORCE INCSell−940,325−4.72
≡RIOTPUT – RIOT PLATFORMS INCReduce 94.00%−11,952,076−3.04
≡GEN – GEN DIGITAL INCReduce 26.00%−2,778,670−2.24
≡ETHB – ISHARES TRAdd 11.00%580,0002.04
≡GPGI – GPGI INCBuy5,027,0281.88
≡CWAN – CLEARWATER ANALYTICS HLDGS IReduce 45.00%−4,500,000−1.73
≡HR – HEALTHCARE RLTY TRReduce 46.00%−5,778,733−1.51
≡BDX – BECTON DICKINSON & COReduce 32.00%−293,423−1.23
≡RIOTPUT – RIOT PLATFORMS INCAdd 22.00%2,800,0001.14
≡FLR – FLUOR CORPReduce 44.00%−2,305,000−0.95
≡NWSA – NEWS CORP NEWReduce 42.00%−1,850,000−0.88
≡ROG – ROGERS CORPReduce 51.00%−619,129−0.72
≡ETHBPUT – ISHARES TRAdd 399.00%546,100−0.58
≡AQN – ALGONQUIN PWR UTILS CORPReduce 10.00%−6,300,0000.28
≡TRIP – TRIPADVISOR INCAdd 12.00%1,130,000−0.15
≡ETHBPUT – ISHARES TRBuy3,000,0000.07
≡BIXI – BITCOIN INFRASTRUCTURE ACQUIBuy149,9990.00
Q4 2025filed Feb 17, 263 new2 added8 reduced1 exited
≡CWAN – CLEARWATER ANALYTICS HLDGS IBuy9,959,0314.55
≡FLR – FLUOR CORP NEWBuy5,191,3273.90
≡ALIT – ALIGHT INCSell−45,865,899−2.81
≡KVUE – KENVUE INCAdd 30.00%6,377,6942.53
≡ADSK – AUTODESK INCReduce 24.00%−311,267−2.23
≡NWSA – NEWS CORP NEWReduce 26.00%−1,577,919−1.42
≡GEN – GEN DIGITAL INCReduce 13.00%−1,585,408−1.05
≡HR – HEALTHCARE RLTY TRReduce 13.00%−1,890,036−0.87
≡BDX – BECTON DICKINSON & COReduce 23.00%−278,081−0.84
≡CRM – SALESFORCE INCReduce 24.00%−301,825−0.82
≡NWSA – NEWS CORP NEWReduce 8.00%−486,229−0.77
≡ROG – ROGERS CORPReduce 28.00%−473,045−0.45
≡RIOT – RIOT PLATFORMS INCAdd 45.00%3,926,576−0.10
≡BIXI – BITCOIN INFRASTRUCTURE ACQUIBuy300,0000.06
Q3 2025filed Nov 14, 251 new3 added8 reduced5 exited
≡BILL – BILL HOLDINGS INCBuy7,024,8487.00
≡PFE – PFIZER INCSell−8,542,149−3.59
≡BDX – BECTON DICKINSON & COReduce 54.00%−1,411,492−3.57
≡RIOT – RIOT PLATFORMS INCAdd 4600.00%8,630,4003.16
≡ROG – ROGERS CORPAdd 86.00%777,0001.47
≡TRIP – TRIPADVISOR INCAdd 12.00%1,011,4300.99
≡MTCH – MATCH GROUP INC NEWReduce 28.00%−4,241,537−0.84
≡IAU – ISHARES TRReduce 60.00%−203,000−0.65
≡RBA – RB GLOBAL INCSell−251,163−0.46
≡HR – HEALTHCARE RLTY TRReduce 25.00%−4,800,636−0.39
≡GDOT – GREEN DOT CORPSell−1,733,298−0.32
≡GEN – GEN DIGITAL INCReduce 9.00%−1,159,505−0.29
≡FTRE – FORTREA HLDGS INCSell−2,495,558−0.21
≡NWSA – NEWS CORP NEWReduce 6.00%−417,2200.19
≡NWSA – NEWS CORP NEWReduce 12.00%−845,525−0.17
≡WIX – WIX COM LTDSell−7,095,000−0.12
≡ADSK – AUTODESK INCReduce 11.00%−154,348−0.03
Q2 2025filed Aug 14, 252 new6 added8 reduced
≡TRIP – TRIPADVISOR INCBuy8,499,0541.92
≡IAU – ISHARES TRAdd 47.00%1,685,7811.86
≡CRM – SALESFORCE INCAdd 47.00%402,5681.77
≡GEN – GEN DIGITAL INCReduce 24.00%−4,186,099−1.66
≡ADSK – AUTODESK INCReduce 27.00%−532,652−1.65
≡RIOTPUT – RIOT PLATFORMS INCReduce 99.00%−12,512,400−1.64
≡IAU – ISHARES TRBuy340,0001.27
≡RIOTPUT – RIOT PLATFORMS INCReduce 63.00%−8,023,100−0.73
≡BDX – BECTON DICKINSON & COAdd 50.00%870,4900.54
≡FTRE – FORTREA HLDGS INCReduce 53.00%−2,772,442−0.51
≡GDOT – GREEN DOT CORPReduce 62.00%−2,871,083−0.38
≡NWSA – NEWS CORP NEWReduce 12.00%−952,306−0.24
≡MTCH – MATCH GROUP INC NEWAdd 9.00%1,226,0150.21
≡ROG – ROGERS CORPAdd 12.00%95,5020.08
≡NWSA – NEWS CORP NEWReduce 6.00%−402,457−0.06
≡PFE – PFIZER INCAdd 10.00%811,1490.03
Q1 2025filed May 15, 252 new2 added4 reduced2 exited
≡QRVO – QORVO INCBuy8,270,00010.89
≡GDDY – GODADDY INCSell−2,830,100−10.10
≡BDX – BECTON DICKINSON & COBuy1,749,0007.29
≡ADSK – AUTODESK INCAdd 93.00%962,0003.97
≡PFE – PFIZER INCReduce 50.00%−7,637,658−3.81
≡WIX – WIX COM LTDSell−840,000−3.26
≡FTRE – FORTREA HLDGS INCReduce 30.00%−2,210,000−1.80
≡CRM – SALESFORCE INCAdd 52.00%290,4150.76
≡IAU – ISHARES TRReduce 10.00%−400,393−0.69
≡NWSA – NEWS CORP NEWReduce 8.00%−667,169−0.35
Q4 2024filed Feb 14, 255 new2 added6 reduced2 exited
≡KVUE – KENVUE INCBuy21,914,0008.46
≡PFE – PFIZER INCBuy15,368,6587.38
≡HR – HEALTHCARE RLTY TRBuy20,183,4606.19
≡ADSK – AUTODESK INCReduce 44.00%−814,000−5.30
≡CRM – SALESFORCE INCReduce 61.00%−882,584−5.01
≡IAU – ISHARES TRSell−1,355,000−4.81
≡IAU – ISHARES TRBuy3,965,2684.47
≡WIX – WIX COM LTDReduce 55.00%−1,037,000−3.41
≡RIOT – RIOT PLATFORMS INCBuy12,704,0352.35
≡FTRE – FORTREA HLDGS INCReduce 11.00%−922,000−1.05
≡MTCH – MATCH GROUP INC NEWAdd 53.00%5,100,8240.99
≡ALIT – ALIGHT INCAdd 9.00%3,833,000−0.91
≡GDOT – GREEN DOT CORPReduce 8.00%−414,000−0.36
≡GDDY – GODADDY INCReduce 10.00%−303,993−0.34
≡HUMPUT – HUMANA INCSell−60,000−0.01
Q3 2024filed Nov 14, 242 new1 added4 reduced3 exited
≡ADSK – AUTODESK INCBuy1,852,00010.85
≡MTCH – MATCH GROUP INC NEWBuy9,556,1467.69
≡GDDY – GODADDY INCReduce 32.00%−1,478,276−4.56
≡HUMPUT – HUMANA INCReduce 88.00%−447,000−4.40
≡HUMPUT – HUMANA INCReduce 62.00%−316,000−3.12
≡CRM – SALESFORCE INCReduce 14.00%−240,022−1.68
≡MRCY – MERCURY SYS INCSell−2,294,000−1.44
≡ACM – AECOMSell−625,438−1.28
≡IAU – ISHARES TRSell−300,000−0.57
≡IAU – ISHARES TRAdd 6.00%75,0000.27
Q2 2024filed Aug 14, 245 added7 reduced2 exited
≡HUM – HUMANA INCAdd 198.00%337,0004.38
≡CRM – SALESFORCE INCAdd 39.00%473,3952.55
≡GEN – GEN DIGITAL INCReduce 6.00%−1,092,3001.57
≡NWSA – NEWS CORP NEWAdd 21.00%1,244,3931.40
≡IAU – ISHARES TRReduce 25.00%−425,000−1.06
≡GDDY – GODADDY INCReduce 28.00%−1,809,093−0.74
≡ALIT – ALIGHT INCAdd 9.00%3,588,000−0.64
≡ACM – AECOMReduce 27.00%−233,562−0.46
≡QTWO – Q2 HLDGS INCSell−20,000,000−0.39
≡IAU – ISHARES TRReduce 43.00%−225,000−0.35
≡MRCY – MERCURY SYS INCReduce 14.00%−370,000−0.18
≡FTRE – FORTREA HLDGS INCAdd 51.00%2,698,000−0.05
≡WIX – WIX COM LTDReduce 23.00%−555,0000.04
≡LPSN – LIVEPERSON INCSell−1,400,000−0.01
Q1 2024filed May 15, 241 new3 added9 reduced6 exited
≡HUM – HUMANA INCReduce 83.00%−824,146−9.44
≡ALIT – ALIGHT INCBuy39,807,0008.10
≡NWSA – NEWS CORP NEWAdd 250.00%4,257,0002.35
≡ACM – AECOMReduce 53.00%−950,000−1.74
≡WIX – WIX COM LTDReduce 27.00%−911,000−1.65
≡FTRE – FORTREA HLDGS INCReduce 30.00%−2,293,000−1.12
≡CRM – SALESFORCE INCReduce 21.00%−327,978−0.89
≡GDDY – GODADDY INCReduce 15.00%−1,091,309−0.84
≡ROG – ROGERS CORPAdd 77.00%350,0000.72
≡LPSN – LIVEPERSON INCReduce 96.00%−32,000,000−0.45
≡LPSN – LIVEPERSON INCSell−15,500,000−0.32
≡IAU – ISHARES TRReduce 6.00%−100,000−0.24
≡IAU – ISHARES TRSell−4,900,000−0.23
≡SVAC – SPRING VALLEY ACQUISTN CORPSell−850,000−0.19
≡ALCHEMY INVTS ACQUISITN CORPSell−350,000−0.08
≡KVAC – KEEN VISION ACQUISITION CORPSell−300,000−0.06
≡IAU – ISHARES TRReduce 9.00%−50,000−0.02
≡MRCY – MERCURY SYS INCAdd 24.00%519,000−0.01
≡VRT – VERTIV HOLDINGS COSell−2,609,300−0.01
Q4 2023filed Feb 14, 245 new4 added8 reduced3 exited
≡FTRE – FORTREA HLDGS INCBuy7,595,0005.51
≡NWSA – NEWS CORP NEWBuy8,732,0004.67
≡VRT – VERTIV HOLDINGS COReduce 37.00%−1,511,299−3.92
≡ACM – AECOMReduce 37.00%−1,080,000−2.67
≡GDDY – GODADDY INCReduce 25.00%−2,449,516−2.42
≡VRT – VERTIV HOLDINGS COReduce 37.00%−1,511,011−1.32
≡HUM – HUMANA INCAdd 18.00%153,146−1.02
≡NWSA – NEWS CORP NEWBuy1,700,0000.87
≡AQN – ALGONQUIN PWR UTILS CORPAdd 6.00%3,591,000−0.71
≡ROG – ROGERS CORPReduce 17.00%−91,519−0.59
≡CRM – SALESFORCE INCReduce 11.00%−193,998−0.58
≡MRCY – MERCURY SYS INCReduce 7.00%−163,800−0.56
≡IAU – ISHARES TRAdd 16.00%255,0000.45
≡LPSN – LIVEPERSON INCBuy15,500,0000.32
≡IAU – ISHARES TRBuy4,900,0000.23
≡WIX – WIX COM LTDReduce 10.00%−373,000−0.19
≡IAU – ISHARES TRAdd 35.00%150,0000.18
≡ISLWF – ISRAEL ACQUISITIONS CORPSell−500,000−0.14
≡MONTEREY CAP ACQUISITION CORSell−375,000−0.10
≡DENALI CAPITAL ACQUISITN CORSell−300,000−0.08
Q3 2023filed Nov 14, 232 new4 added5 reduced25 exited
≡SPLUNK INCSell−4,068,000−9.32
≡BLMN – BLOOMIN BRANDS INCBuy8,341,0005.25
≡VRT – VERTIV HOLDINGS COReduce 74.00%−11,824,290−4.61
≡ACTG – ACACIA RESH CORPAdd 206.00%41,123,5953.92
≡AQN – ALGONQUIN PWR UTILS CORPAdd 71.00%24,261,3502.77
≡IAU – ISHARES TRAdd 72.00%650,0002.64
≡WTW – WILLIS TOWERS WATSON PLC LTDSell−508,880−2.59
≡ABCAM PLCSell−4,593,000−2.43
≡ROG – ROGERS CORPReduce 30.00%−228,481−0.87
≡ACM – AECOMReduce 24.00%−892,000−0.77
≡IAU – ISHARES TRAdd 183.00%275,0000.52
≡PZZA – PAPA JOHNS INTL INCSell−182,000−0.29
≡LPSN – LIVEPERSON INCSell−2,360,000−0.23
≡CVLT – COMMVAULT SYS INCSell−122,000−0.19
≡CRM – SALESFORCE INCReduce 14.00%−277,625−0.18
≡INVESTCORP INDIA ACQUISTN COSell−750,000−0.17
≡KNIGHTSWAN ACQUISITION CORPSell−750,000−0.17
≡ASCBW – A SPAC II ACQUISITION CORPSell−750,000−0.17
≡CONSILIUM ACQUISITN CORP I LSell−639,252−0.14
≡FLD – FTAC EMERALD ACQUISITION CORSell−620,000−0.14
≡SPGI – GLOBAL BLOCKCHAIN ACQUI CORPSell−600,000−0.14
≡VAHANNA TECH EDGE ACQSTN I CSell−509,330−0.12
≡JAGUAR GLOBAL GROWTH CORP ISell−500,000−0.11
≡HEARTLAND MEDIA ACQUISITIONSell−500,000−0.11
≡FTII – FUTURETECH II ACQUISITION COSell−450,000−0.10
≡POLE – ANDRETTI ACQUISITION CORPSell−439,252−0.10
≡AURA FAT PROJS ACQUISITION CSell−350,000−0.08
≡KVAC – KEEN VISION ACQUISITION CORPBuy300,0000.08
≡MRCY – MERCURY SYS INCReduce 19.00%−527,2000.07
≡AIMUF – AIMFINITY INVESTMENT CORP ISell−300,000−0.07
≡MBVI – M3 BRIGADE ACQUISITION IIISell−209,750−0.05
≡FTAC ZEUS ACQUISITION CORSell−210,250−0.05
≡SCII – AP ACQUISITION CORPSell−176,348−0.04
≡IEAG – INFINITE ACQUISITION CORPSell−168,200−0.04
≡OKLO – ALTC ACQUISITION CORPSell−82,300−0.02
≡CHEC – CHENGHE ACQUISITION COSell−50,000−0.01
Q2 2023filed Aug 11, 2346 new1 added
≡LPSN – LIVEPERSON INCAdd 11.00%3,400,000−73.10
≡GDDY – GODADDY INCBuy10,040,43716.30
≡SPLUNK INCBuy4,068,0009.32
≡CRM – SALESFORCE INCBuy2,008,0769.16
≡HUM – HUMANA INCBuy885,0008.55
≡VRT – VERTIV HOLDINGS COBuy15,944,8898.53
≡GEN – GEN DIGITAL INCBuy18,914,7947.58
≡ACM – AECOMBuy3,781,0006.92
≡WIX – WIX COM LTDBuy3,785,0006.40
≡AQN – ALGONQUIN PWR UTILS CORPBuy34,138,6506.09
≡IAU – ISHARES TRBuy900,0002.74
≡ROG – ROGERS CORPBuy774,0002.71
≡WTW – WILLIS TOWERS WATSON PLC LTDBuy508,8802.59
≡ABCAM PLCBuy4,593,0002.43
≡GDOT – GREEN DOT CORPBuy5,294,1102.14
≡MRCY – MERCURY SYS INCBuy2,836,0002.12
≡ACTG – ACACIA RESH CORPBuy20,000,0001.80
≡QTWO – Q2 HLDGS INCBuy20,000,0000.37
≡RBA – RB GLOBAL INCBuy251,1630.33
≡PZZA – PAPA JOHNS INTL INCBuy182,0000.29
≡IAU – ISHARES TRBuy150,0000.24
≡LPSN – LIVEPERSON INCBuy2,360,0000.23
≡SVAC – SPRING VALLEY ACQUISTN CORPBuy850,0000.19
≡CVLT – COMMVAULT SYS INCBuy122,0000.19
≡INVESTCORP INDIA ACQUISTN COBuy750,0000.17
≡KNIGHTSWAN ACQUISITION CORPBuy750,0000.17
≡ASCBW – A SPAC II ACQUISITION CORPBuy750,0000.17
≡CONSILIUM ACQUISITN CORP I LBuy639,2520.14
≡FLD – FTAC EMERALD ACQUISITION CORBuy620,0000.14
≡SPGI – GLOBAL BLOCKCHAIN ACQUI CORPBuy600,0000.14
≡VAHANNA TECH EDGE ACQSTN I CBuy509,3300.12
≡JAGUAR GLOBAL GROWTH CORP IBuy500,0000.11
≡HEARTLAND MEDIA ACQUISITIONBuy500,0000.11
≡ISLWF – ISRAEL ACQUISITIONS CORPBuy500,0000.11
≡FTII – FUTURETECH II ACQUISITION COBuy450,0000.10
≡POLE – ANDRETTI ACQUISITION CORPBuy439,2520.10
≡MONTEREY CAP ACQUISITION CORBuy375,0000.08
≡AURA FAT PROJS ACQUISITION CBuy350,0000.08
≡ALCHEMY INVTS ACQUISITN CORPBuy350,0000.08
≡DENALI CAPITAL ACQUISITN CORBuy300,0000.07
≡AIMUF – AIMFINITY INVESTMENT CORP IBuy300,0000.07
≡MBVI – M3 BRIGADE ACQUISITION IIIBuy209,7500.05
≡FTAC ZEUS ACQUISITION CORBuy210,2500.05
≡SCII – AP ACQUISITION CORPBuy176,3480.04
≡IEAG – INFINITE ACQUISITION CORPBuy168,2000.04
≡OKLO – ALTC ACQUISITION CORPBuy82,3000.02
≡CHEC – CHENGHE ACQUISITION COBuy50,0000.01