One of the most polarizing strategies a hedge fund manager can employ is to be an activist investor. Carl Icahn, the largest and most renowned of activists, recently weighed in on the issue stating, “There are bad activists, and we agree that it’s bad. All they want to do is get in and rock the boat and make a quick trade.” But we have found that data speaks favorably of activist managers, or at the very least the returns they are able to generate for their investors.
Without opining on the “good” or “bad,” it’s clear that activists can be very different in the strategies they use to create value for the companies they target and their investors.
This article will perform a deep-dive holdings analysis on three prominent activist hedge fund managers.
Who is in the report?
- Novus' Exclusive Activist Portfolio
- ValueAct Capital
- Third Point LLC
- Pershing Square Capital Management