This activist filing tracker shows the most recent 13D and 13G filings reported by institutions. Any institution that acquires more than five percent of a company must file either a 13D or a 13G with the Securities and Exchange Commission (SEC. If the institution intends to influence management, then it is considered an “activist” investment and they must file a 13D. If they do not intend to influence management, then it is considered a “passive” investment and they must file a 13G. Additionally, forms 13D/A and 13G/A are “amended” forms that signify changes in ownership after an initial 13D or 13G is filed.
There is significant evidence that suggests involvement by activist investors increases the returns of an investment. Typically, activist investors seek companies with “hidden value” and then influence the company’s management to unlock that value for the shareholders. In the past, activist investors have persuaded management to return excess cash to shareholders via special dividends share buybacks. However, the debate over the merits of activism continues and a middle ground differentiates between various forms of activism. Regardless, of ones views filings by big activists are closely watched by companies, law firms, other funds, and retail investors. There is evidence that investing alongside (cloning or copying) activists can produce excess returns.
The top activist investors who we screen below include some familiar names such as Bruce Berkowitz (Fairholme Capital), Carl Icahn (Icahn Enterprises), Daniel Loeb (Third Point Partners), Jeff Ubben (ValueAct Capital Partners), Bill Ackman (Pershing Square Capital Management), Christer Gardell (Cevian Capital), Mario Gabelli (Gamco Investors), Jeff Smith (Starboard Value), Paul Singer (Elliott Associates), Bulldog Investors and even occasional activists such as David Einhorn’s Greenlight Capital currently at General Motors and in the past Apple Inc.
Check out the Activist Filing Tracker embedded below courtesy of FinTel