Great investors · Jeff Smith · Q4 2024
What Jeff Smith bought and sold in Q4 2024
Starboard Value 13F portfolio as of Dec 31, 2024: 21 positions worth $5.5 bn. Largest: GDDY, GEN, MTCH, KVUE. Filed with the SEC on Feb 14, 2025.
The 13F is filed by Starboard Value, not by Jeff Smith personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q4 2024
- NewKenvueKVUE+8.5 pp
- NewPfizerPFE+7.4 pp
- NewHealthcare Realty TrustHR+6.2 pp
- IncreasedMatch GroupMTCH+3.0 pp
- NewRIOT PlatformsRIOT+2.3 pp
Sells in Q4 2024
- ReducedSalesforceCRM−5.3 pp
- ReducedAutodeskADSK−4.4 pp
- ReducedWIXWIX−4.0 pp
- Sold outHumanaHUM−1.1 pp
- ReducedGoDaddyGDDY−1.1 pp
10 companies with material moves, out of 15 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
Starboard Value's Q4 2024 13F lists 21 lines of US-listed securities worth $5.5 bn; the largest is GDDY at 10.1% of the portfolio. It was accepted by the SEC on Feb 14, 2025 at 4:01 PM ET.
Against the previous quarter, it opened 5 positions (KVUE, PFE, HR and IJH and 1 more), closed 2 (IWN and HUM), added to 3 (MTCH, ALIT and AQN) and trimmed 7 (ADSK, CRM, WIX and GDDY and 3 more). 6 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | GoDaddy GDDY | 2.8 M | $559M | 10.1% | −9.7% |
| 2 | Gen Digital GEN | 17.5 M | $480M | 8.69% | no change |
| 3 | Match Group MTCH | 14.7 M | $479M | 8.68% | +53% |
| 4 | Kenvue KVUE | 21.9 M | $468M | 8.47% | new |
| 5 | Pfizer PFE | 15.4 M | $408M | 7.38% | new |
| 6 | Healthcare Realty Trust HR | 20.2 M | $342M | 6.20% | new |
| 7 | Alight, Inc. / Delaware ALIT | 47.2 M | $327M | 5.92% | +8.8% |
| 8 | Autodesk ADSK | 1.0 M | $307M | 5.56% | −44% |
| 9 | Algonquin Power & Utilities AQN | 65.3 M | $291M | 5.26% | +5.1% |
| 10 | Acacia Research ACTG | 61.1 M | $265M | 4.80% | no change |
| 11 | News NWS | 8.5 M | $258M | 4.67% | −2.9% |
| 12 | iShares Core S&P Midcap ETF IJH | 4.0 M | $247M | 4.48% | new |
| 13 | News NWSA | 7.2 M | $198M | 3.59% | no change |
| 14 | Salesforce CRM | 559,264 | $187M | 3.39% | −61% |
| 15 | WIX WIX | 840,000 | $180M | 3.26% | −55% |
| 16 | Fortrea Holdings FTRE | 7.5 M | $139M | 2.53% | −11% |
| 17 | RIOT Platforms RIOT | 12.7 M | $130M | 2.35% | new |
| 18 | Bloomin’ Brands BLMN | 8.4 M | $103M | 1.87% | no change |
| 19 | Rogers ROG | 804,000 | $81.7M | 1.48% | no change |
| 20 | Green DOT GDOT | 4.6 M | $49.0M | 0.89% | −8.2% |
| 21 | RB Global RBA | 251,163 | $22.7M | 0.41% | no change |
Positions it closed (2)
- Ishares Tr IWNwas 4.81% · 1.4 M shares
- Humana HUMwas 1.29% · 191,000 shares
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: Starboard Value's 13F filings on EDGAR (SEC) ↗
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Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.