Great investors · Jeff Smith · Q2 2026
What Jeff Smith bought and sold in Q2 2026
Starboard Value 13F portfolio as of Jun 30, 2026: 21 positions worth $4.5 bn. Largest: IJH, QRVO, KVUE, DT. Filed with the SEC on Aug 14, 2026.
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 Q2 2026
- NewDynatraceDT+8.5 pp
- IncreasediShares Core S&P Midcap ETFIJH+5.1 pp
- NewFlowserveFLS+2.3 pp
Sells in Q2 2026
- ReducedQorvoQRVO−3.9 pp
- ReducedCarmaxKMX−3.5 pp
- ReducedRIOT PlatformsRIOT−3.3 pp
- Sold outGen DigitalGEN−3.2 pp
- ReducedMatch GroupMTCH−3.0 pp
- Sold outBecton, DickinsonBDX−2.2 pp
- ReducedHealthcare Realty TrustHR−2.2 pp
- ReducedNewsNWSA−1.9 pp
- ReducedTripadvisorTRIP−1.7 pp
- ReducedFluorFLR−1.5 pp
- Sold outRogersROG−1.4 pp
- ReducedBloomin’ BrandsBLMN−0.8 pp
15 companies with material moves, out of 17 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 Q2 2026 13F lists 21 lines of US-listed securities worth $4.5 bn; the largest is IJH at 15.1% of the portfolio. It was accepted by the SEC on Aug 14, 2026 at 4:11 PM ET.
Against the previous quarter, it opened 2 positions (DT and FLS), closed 3 (GEN, BDX and ROG), added to 1 (IJH) and trimmed 11 (QRVO, RIOT, MTCH and KMX and 7 more). 7 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | iShares Core S&P Midcap ETF IJH | 8.9 M | $685M | 15.1% | +52% |
| 2 | Qorvo QRVO | 5.6 M | $523M | 11.6% | −25% |
| 3 | Kenvue KVUE | 27.3 M | $522M | 11.5% | no change |
| 4 | Dynatrace DT | 8.9 M | $389M | 8.61% | new |
| 5 | Algonquin Power & Utilities AQN | 57.2 M | $335M | 7.41% | no change |
| 6 | Match Group MTCH | 7.8 M | $296M | 6.54% | −32% |
| 7 | Acacia Research ACTG | 61.1 M | $285M | 6.30% | no change |
| 8 | RIOT Platforms RIOT | 10.1 M | $277M | 6.12% | −35% |
| 9 | BILL Holdings BILL | 7.0 M | $254M | 5.62% | no change |
| 10 | Lamb Weston Holdings LW | 5.7 M | $248M | 5.48% | −6.2% |
| 11 | Carmax KMX | 3.2 M | $170M | 3.75% | −48% |
| 12 | Flowserve FLS | 1.4 M | $107M | 2.36% | new |
| 13 | Fluor FLR | 1.6 M | $83.1M | 1.84% | −45% |
| 14 | GPGI GPGI | 5.0 M | $79.7M | 1.76% | no change |
| 15 | Tripadvisor TRIP | 5.1 M | $69.9M | 1.55% | −53% |
| 16 | News NWS | 2.4 M | $68.2M | 1.51% | −6.1% |
| 17 | News NWSA | 2.0 M | $50.7M | 1.12% | −64% |
| 18 | Healthcare Realty Trust HR | 1.9 M | $39.1M | 0.86% | −72% |
| 19 | Bloomin’ Brands BLMN | 4.2 M | $38.2M | 0.85% | −48% |
| 20 | Bitcoin Infrastructure Acquisition BIXI | 300,000 | $3.0M | 0.07% | no change |
| 21 | Bitcoin Infrastructure Acquisition BIXIW | 149,999 | $47.5K | 0.00% | no change |
Positions it closed (3)
- Gen Digital GENwas 3.22% · 7.8 M shares
- Becton, Dickinson BDXwas 2.19% · 636,494 shares
- Rogers ROGwas 1.37% · 584,328 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.