In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Jeff Smith's Starboard Value reported 20 stock positions worth $4.5 billion . Its top holding was iShares Core S&P Midcap ETF (IJH) at 15.1% of the portfolio, followed by Qorvo (QRVO, 11.6% ) and Kenvue (KVUE, 11.5% ). Compared with Q1 2026, it opened 2 new positions, sold out of 4, added to 2 and reduced 11. The biggest buy was a new position in Dynatrace (DT) and the biggest sale an exit from Gen Digital (GEN).
Notable People Jeff Smith
Location New York, NY
CIK 0001517137
Portfolio Value $4.5B (Q2 2026) Holdings 20 stocks · $4.5B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2026 IJH iShares Core S&P Midcap ETF 8,877,781 $684.6M Add +52.3% QRVO Qorvo Inc. 5,611,526 $523.4M Reduce -25.3% KVUE Kenvue Inc. 27,307,632 $521.8M No change DT Dynatrace Inc. 8,866,692 $389.3M New AQN Algonquin Power & Utilities 57,189,420 $335.1M No change MTCH Match Group Inc. 7,775,125 $295.8M Reduce -31.8% ACTG Acacia Research Corp. 61,123,595 $284.8M No change RIOT Riot Platforms Inc. 10,114,576 $276.9M Reduce -34.9% BILL Bill Holdings Inc. 7,025,748 $254.1M Add +0.0% LW Lamb Weston Holdings Inc. 5,733,982 $247.6M Reduce -6.2% KMX Carmax Inc. 3,206,438 $169.6M Reduce -48.3% FLS Flowserve Corp. 1,441,600 $106.9M New FLR Fluor Corp. 1,586,327 $83.1M Reduce -45.0% GPGI Gpgi Inc. 5,027,028 $79.7M No change TRIP Tripadvisor Inc. 5,096,996 $69.9M Reduce -52.7% NWS News Corp. Class B 2,431,081 $68.2M Reduce -6.1% NWSA News Corp. Class A 2,040,100 $50.7M Reduce -63.6% HR Healthcare Realty Trust Inc. 1,936,267 $39.1M Reduce -71.6% BLMN Bloomin' Brands Inc. 4,180,992 $38.2M Reduce -47.6% BIXI Bitcoin Infrastructure Class A 300,000 $3.0M No change
Options reported separately and not counted above: RIOT puts ($1.9M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $47K (not counted above) Security Class Shares / Principal Value Change BIXIW Bitcoin Infrastructure Acqui *W EXP 11/06/203 149,999 $47K No change
Total filed on the 13F, all lines: $4.5B.
Portfolio Sells Q1 2026 → Q2 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▲ GEN Gen Digital Inc. Sold out 0.00% −3.22 CWAN Clearwater Analytics HDS-A Sold out 0.00% −2.83 BDX Becton Dickinson and Co. Sold out 0.00% −2.19 NWSA News Corp. Class A Reduce -63.6% 1.12% −1.94 KMX Carmax Inc. Reduce -48.3% 3.75% −1.89 HR Healthcare Realty Trust Inc. Reduce -71.6% 0.86% −1.67 ROG Rogers Corp. Sold out 0.00% −1.37 QRVO Qorvo Inc. Reduce -25.3% 11.57% −1.15 MTCH Match Group Inc. Reduce -31.8% 6.54% −1.12 FLR Fluor Corp. Reduce -45.0% 1.84% −1.11 TRIP Tripadvisor Inc. Reduce -52.7% 1.55% −0.97 LW Lamb Weston Holdings Inc. Reduce -6.2% 5.48% −0.18 NWS News Corp. Class B Reduce -6.1% 1.51% −0.11 BLMN Bloomin' Brands Inc. Reduce -47.6% 0.85% −0.10 RIOT Riot Platforms Inc. Reduce -34.9% 6.12% +1.92
Portfolio Buys Q1 2026 → Q2 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▼ DT Dynatrace Inc. New 8.61% +8.61 IJH iShares Core S&P Midcap ETF Add +52.3% 15.14% +6.52 FLS Flowserve Corp. New 2.36% +2.36 BILL Bill Holdings Inc. Add +0.0% 5.62% −0.27
Options Activity Q1 2026 → Q2 2026 Security Type Change vs Q1 2026 Underlying Shares Value ▼ HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Sold out 3,000,000 $3.0Mbefore exit IWM iShares Russell 2000 ETF put Sold out 683,100 $2.7Mbefore exit RIOT Riot Platforms Inc. put Add +205.8% 2,423,400 $1.9M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 20 $4.5B IJH, QRVO, KVUE, DT, AQN Q1 2026 22 $4.6B QRVO, KVUE, IJH, AQN, MTCH Q4 2025 22 $5.3B QRVO, KVUE, AQN, BILL, MTCH Q3 2025 20 $5.3B QRVO, ADSK, MTCH, BILL, GEN Q2 2025 24 $5.8B QRVO, MTCH, ADSK, BDX, KVUE Q1 2025 21 $5.5B QRVO, KVUE, ADSK, GEN, MTCH Q4 2024 21 $5.5B GDDY, GEN, MTCH, KVUE, PFE Q3 2024 18 $4.7B ADSK, GDDY, GEN, CRM, MTCH Q2 2024 19 $4.3B GDDY, GEN, CRM, AQN, ALIT Q1 2024 19 $4.8B GDDY, GEN, AQN, ALIT, CRM