Jeff Smith portfolio: holdings and latest trades
The stocks Starboard Value reported in its latest 13F filing, for Q2 2026: 21 positions worth about $4.5B, what was bought and sold in the quarter, and who Smith is.
Data updated August 14, 2026 (13F for Q2 2026)
- 13F portfolio value
- $4.5B
- Positions
- 21
- Top 10 holdings
- 76%
- Change in value vs previous quarter
- −2.2%
Jeff Smith top holdings (Q2 2026)
| # | Stock | % of portfolio | Value | Last quarter |
|---|---|---|---|---|
| 1 | IJH iShares Core S&P Midcap ETF | 15.1% | $685M | Added 52% |
| 2 | KVUE Kenvue Inc | 11.5% | $522M | Unchanged |
| 3 | DT Dynatrace Inc | 8.6% | $389M | New |
| 4 | AQN Algonquin Power & Utilities | 7.4% | $335M | Unchanged |
| 5 | MTCH Match Group Inc | 6.5% | $296M | Trimmed 32% |
| 6 | ACTG Acacia Research Corp | 6.3% | $285M | Unchanged |
| 7 | RIOT Riot Platforms Inc | 6.1% | $277M | Trimmed 35% |
| 8 | BILL Bill Holdings Inc | 5.6% | $254M | Unchanged |
| 9 | LW Lamb Weston Holdings Inc | 5.5% | $248M | Trimmed 6% |
| 10 | KMX Carmax Inc | 3.8% | $170M | Trimmed 48% |
| 11 | FLS Flowserve Corp | 2.4% | $107M | New |
| 12 | FLR Fluor Corp | 1.8% | $83M | Trimmed 45% |
| 13 | GPGI Gpgi Inc | 1.8% | $80M | Unchanged |
| 14 | TRIP Tripadvisor Inc | 1.5% | $70M | Trimmed 53% |
| 15 | NWS News Corp - Class B | 1.5% | $68M | Trimmed 6% |
| 16 | NWSA News Corp - Class A | 1.1% | $51M | Trimmed 64% |
| 17 | HR Healthcare Realty Trust Inc | 0.9% | $39M | Trimmed 72% |
| 18 | BLMN Bloomin' Brands Inc | 0.8% | $38M | Trimmed 48% |
What Smith bought and sold in Q2 2026
Bought or added
- DT Dynatrace IncNew
- IJH iShares Core S&P Midcap ETFAdded 52%
- FLS Flowserve CorpNew
Sold or reduced
- — Qorvo IncTrimmed 25%
- KMX Carmax IncTrimmed 48%
- RIOT Riot Platforms IncTrimmed 35%
- GEN Gen Digital IncSold out
- MTCH Match Group IncTrimmed 32%
- — Clearwater Analytics Hldgs ISold out
- BDX Becton Dickinson And CoSold out
- HR Healthcare Realty Trust IncTrimmed 72%
- NWSA News Corp - Class ATrimmed 64%
- TRIP Tripadvisor IncTrimmed 53%
Changes in number of shares against the 13F for the previous quarter (Q1 2026), largest first.
Who is Jeff Smith
- Role
- CEO and CIO of Starboard Value
- Fund
- Starboard Value, founded 2011
- Investment style
- Activist investing in underperforming mid and large caps.
- Known for
- Replacing the whole board of Darden Restaurants in 2014
Jeff Smith launched Starboard Value in 2011, spun out of the hedge fund Ramius. Starboard targets companies it considers undervalued and pushes for cost cuts, divestments or board changes.
Its most famous campaign came in 2014 at Darden Restaurants, the owner of Olive Garden, where shareholders replaced the entire board with Starboard’s nominees.
- •Replacing the whole board of Darden Restaurants in 2014
- •Detailed public presentations on its targets
- •Activism in technology and consumer companies
How to read 13F data
A 13F filing lists the US-listed stocks, ETFs and some options a manager held at the end of a quarter. It is filed up to 45 days after the quarter ends, so positions may have changed since. It does not show short positions, bonds, cash, foreign-listed shares or private investments, so for many funds it is only part of the picture.
Questions
What stocks does Jeff Smith own?
According to the 13F filing of Starboard Value for Q2 2026 (period ending June 30, 2026), the largest holdings were iShares Core S&P Midcap ETF (IJH) 15.1%, Kenvue Inc (KVUE) 11.5%, Dynatrace Inc (DT) 8.6%, Algonquin Power & Utilities (AQN) 7.4%, Match Group Inc (MTCH) 6.5%, out of 21 positions worth about $4.5B.
What did Smith buy and sell last quarter?
New or larger positions in Q2 2026: DT, IJH, FLS. Sold or reduced: Qorvo Inc, KMX, RIOT, GEN, MTCH, Clearwater Analytics Hldgs I. Changes are measured in shares against the previous quarter’s filing.
How up to date is Starboard Value’s portfolio?
13F filings are due within 45 days after each quarter ends. This page shows the filing made on August 14, 2026 for the quarter ended June 30, 2026; the fund may have traded since.
What does a 13F filing leave out?
A 13F filing lists the US-listed stocks, ETFs and some options a manager held at the end of a quarter. It is filed up to 45 days after the quarter ends, so positions may have changed since. It does not show short positions, bonds, cash, foreign-listed shares or private investments, so for many funds it is only part of the picture.
Other famous investors
- All famous investorsHoldings and latest trades
- Warren BuffettBerkshire Hathaway
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- Bill GatesGates Foundation Trust
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- Carl IcahnIcahn Enterprises
- Seth KlarmanBaupost Group
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Source: SEC Form 13F-HR filings via EDGAR. Holdings are as reported by the manager for the quarter shown and may have changed since. Educational content, not investment advice: MEDGE Capital does not recommend buying or selling any security. Risk disclaimer.