Starboard Value

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Jeff Smith's Starboard Value reported 19 stock positions worth $4.3 billion. Its top holding was GoDaddy Class A (GDDY) at 15.0% of the portfolio, followed by Gen Digital (GEN, 10.2%) and Salesforce (CRM, 10.1%). Compared with Q1 2024, it added to 4 and reduced 8. The biggest buy was Salesforce (CRM, shares +39%) and the biggest sale Humana (HUM, shares −48%).

Most Recent 13F
Q2 2026
Notable People
Jeff Smith
Location
New York, NY
CIK
0001517137
Portfolio Value
$4.3B (Q2 2024)
SEC Filing
0000921895-24-001819 ↗ filed Aug 14, 2024

Holdings Value

0$2.0B$4.0B$6.0B Q1 2024: $4.8B Q1 2024 Q2 2024: $4.3B $4.3B Q2 2024 Q3 2024: $4.7B Q3 2024 Q4 2024: $5.5B Q4 2024 Q1 2025: $5.5B Q1 2025 Q2 2025: $5.8B Q2 2025 Q3 2025: $5.3B Q3 2025 Q4 2025: $5.3B Q4 2025 Q1 2026: $4.6B Q1 2026 Q2 2026: $4.5B Q2 2026

Holdings 19 stocks · $4.3B
GDDY GoDaddy Inc. Class A 15.03% 4,612,369 $644.4M Reduce -28.2%
GEN Gen Digital Inc. 10.20% 17,516,604 $437.6M Reduce -5.9%
CRM Salesforce Inc. 10.08% 1,681,870 $432.4M Add +39.2%
AQN Algonquin Power & Utilities 8.49% 62,141,000 $364.1M No change
ALIT Alight Inc. Class A 7.47% 43,395,000 $320.3M Add +9.0%
ACTG Acacia Research Corp. 7.14% 61,123,595 $306.2M No change
WIX Wix.com Ltd. 6.96% 1,877,000 $298.6M Reduce -22.8%
NWS News Corp. Class B 5.78% 8,732,000 $247.9M No change
NWSA News Corp. Class A 4.63% 7,201,393 $198.5M Add +20.9%
IWN iShares Russell 2000 Value E 4.55% 1,280,000 $194.9M Reduce -24.9%
HUM Humana Inc. 4.42% 507,000 $189.4M Reduce -48.0%
FTRE Fortrea Holdings Inc. 4.35% 8,000,000 $186.7M Add +50.9%
BLMN Bloomin' Brands Inc. 3.79% 8,441,000 $162.3M No change
ROG Rogers Corp. 2.26% 804,000 $97.0M No change
MRCY Mercury Systems Inc. 1.44% 2,294,000 $61.9M Reduce -13.9%
ACM Aecom 1.29% 625,438 $55.1M Reduce -27.2%
GDOT Green Dot Corp. Class A 1.11% 5,018,381 $47.4M No change
IWR iShares Russell Mid-Cap ETF 0.57% 300,000 $24.3M Reduce -42.9%
RBA RB Global Inc. 0.45% 251,163 $19.2M No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $7.0M (not counted above)
SecurityClassShares / PrincipalValueChange
WIX LTD (WIX 0 08/15/25) NOTE 8/1 · principal 7,500,000$7.0MNo change

Total filed on the 13F, all lines: $4.3B.

Portfolio Sells Q1 2024 → Q2 2024
HUM Humana Inc. Reduce -48.0% 4.42% −2.61
IWN iShares Russell 2000 Value E Reduce -24.9% 4.55% −1.08
GDDY GoDaddy Inc. Class A Reduce -28.2% 15.03% −0.81
ACM Aecom Reduce -27.2% 1.29% −0.47
IWR iShares Russell Mid-Cap ETF Reduce -42.9% 0.57% −0.35
MRCY Mercury Systems Inc. Reduce -13.9% 1.44% −0.19
WIX Wix.com Ltd. Reduce -22.8% 6.96% +0.01
GEN Gen Digital Inc. Reduce -5.9% 10.20% +1.54

Portfolio Buys Q1 2024 → Q2 2024
CRM Salesforce Inc. Add +39.2% 10.08% +2.52
NWSA News Corp. Class A Add +20.9% 4.63% +1.39
FTRE Fortrea Holdings Inc. Add +50.9% 4.35% −0.07
ALIT Alight Inc. Class A Add +9.0% 7.47% −0.68

Options Activity Q1 2024 → Q2 2024
HUM Humana Inc. put Sold out 170,000 $1.3Mbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q1 2024 → Q2 2024
Q2 HOLDINGS INC (QTWO 0.75 06/01/26) NOTE 0.750% 6/0 · principal Sold out 20,000,000 $18.9Mbefore exit
LIVEPERSON INC (LPSN 0 12/15/26) NOTE 12/1 · principal Sold out 1,400,000 $526Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 20$4.5BIJH, QRVO, KVUE, DT, AQN
Q1 2026 22$4.6BQRVO, KVUE, IJH, AQN, MTCH
Q4 2025 22$5.3BQRVO, KVUE, AQN, BILL, MTCH
Q3 2025 20$5.3BQRVO, ADSK, MTCH, BILL, GEN
Q2 2025 24$5.8BQRVO, MTCH, ADSK, BDX, KVUE
Q1 2025 21$5.5BQRVO, KVUE, ADSK, GEN, MTCH
Q4 2024 21$5.5BGDDY, GEN, MTCH, KVUE, PFE
Q3 2024 18$4.7BADSK, GDDY, GEN, CRM, MTCH
Q2 2024 19$4.3BGDDY, GEN, CRM, AQN, ALIT
Q1 2024 19$4.8BGDDY, GEN, AQN, ALIT, CRM