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Jeffrey Smith’s Starboard Value buys Qorvo, cuts Pfizer in Q1

Jeffrey Smith’s Starboard Value disclosed in an SEC filing its holdings as of March 31, 2025. The fund’s two new buys during the first quarter included, by size of position, Qorvo (QRVO) and Becton Dickinson (BDX). Starboard exited two positions during the quarter, including by size of previous position GoDaddy (GDDY) and Wix.com (WIX). The fund increased its stake in a number of holdings, including by size of previous position Autodesk (ADSK), Kenvue (KVUE), Algonquin Power (AQN), Salesforce (CRM), and Alight (ALIT). Starboard reduced its stake in several holdings, including by size of previous position Pfizer (PFE), Fortrea (FTRE), Match Group (MTCH), Riot Platforms (RIOT), and iShares Core S&P Mid-Cap ETF (IJH). The fund’s top holdings as of March 31, in order of size, were Qorvo, Kenvue, Autodesk, Gen Digital (GEN), and Match Group.

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