Welcome to the Activist Leaderboard. Who are the best all-time performing activists? So far, not Bill Ackman’s Pershing Square! We’re digging deep to find out the rest.
Stay tuned for more updates.
- Starts when: activist hedge fund files a 13D.
- Ends when: activist ceases to own 5% of the outstanding shares of the target, changes filing from active (13D) to passive (13G), or when the target company is acquired.
- S&P 500 performance is measured over the exact time frame as the activist investment.
- Calculated as current or ending price per share / beginning price per share.
- Ending price per share is the closing price on the date the activist investment ends (defined above).
- Beginning price per share is the closing price the day prior to 13D filing.
- Returns exclude dividends and other shareholder distributions.
Activist makes the list if:
- Activist investment since 2014
- 4+ total activist investments
- Targets operating public companies