Stable Set Polytopes with Rank $|V(G)|/3$ for the Lov{á}sz--Schrijver SDP Operator

We study the lift-and-project rank of the stable set polytope of graphs with respect to the Lov{\'a}sz--Schrijver SDP operator $\text{LS}_+$ applied to the fractional stable set polytope. In particular, we show that for every positive integer $\ell$, the smallest possible graph with $\text{LS}_+$-rank $\ell$ contains $3\ell$ vertices. This result is sharp and settles a conjecture posed by Lipt{\'a}k and the second author in 2003, as well as answers a generalization of a problem posed by Knuth in 1994. We also show that for every positive integer $\ell$ there exists a vertex-transitive graph on $4\ell+12$ vertices with $\text{LS}_+$-rank at least $\ell$.