What is an Activist Investor?

Every investor that acquires 5% of a company is required to file a beneficial ownership filing, which is either a Form 13D or Form 13G, within ten (10) days of the event. If the investor intends to influence management, then they are considered an activist investor and must file a 13D. Carl Icahn is a well-known activist investor. If they do not intend to influence management, then they are considered a passive investor and must file a 13G. Vanguard, because of it's size, owns more than 5% of many companies. Since it is a passively managed fund, it files Forms 13G. If there is any change in the ownership, investors must make amendments to their original filings, with either forms 13D/A, or 13G/A. If a passive investor that has filed a 13G decides they want to influence management, they must file a new 13D that supercedes their original 13G.

There is evidence that suggests investing alongside activist investors is a stock market investing strategy that can produce excess returns. This free screener shows all of the required Schedule 13D filings made by activist investors.

Investor Groups

Additionally, filers of 13Ds often organize investor groups in order to have more leverage when influencing management. Fintel only identifies the lead investor of an investor group. To see the other members of the group, read the original filing by clicking on the form type in the Form column. You cannot directly compare shares reported in a 13D/G with shares reported by the investor in a 13F, since the 13D/G filings may include other investors.

Change in holdings is calculated as (current - previous) / previous.

DateFormTargetLead InvestorSharesOwnership Percent
Change
2017‑01‑23 SC 13D/A BELFA / Bel Fuse GAMCO INVESTORS, INC. ET AL 284,000 13.06 0.00
2017‑01‑23 SC 13D/A FDML / Federal-Mogul Holdings ICAHN CARL C 155,219,529 91.8
2017‑01‑23 SC 13G SELB / Selecta Biosciences Flynn James E 1,060,000 5.83
2017‑01‑23 SC 13D/A FSD / First Trust High Income Long Saba Capital Management, L.P. 4,608,556 13.06 4.21
2017‑01‑23 SC 13D MEDA / Media Analytics Qian Guoqiang 34.2
2017‑01‑23 SC 13D MEDA / Media Analytics Shi Min 11.78
2017‑01‑23 SC 13G ONDK / On Deck Capital EJF Capital LLC 3,780,000 5.3
2017‑01‑23 SC 13D/A UAN / CVR Partners, LP RENTECH, INC.
2017‑01‑23 SC 13G/A OTIV / On Track Innovations Ivy Jerry Lafe JR
2017‑01‑23 SC 13G/A CLBH / Carolina Bank Holdings Context BH Capital Management, LP 503,073 55.87
2017‑01‑23 SC 13G/A CUDA / Barracuda Networks Francisco Partners, LP 2,621 0.0 -99.89
2017‑01‑23 SC 13D/A STC / Stewart Information Services DRIEHAUS CAPITAL MANAGEMENT LLC 2,088,918 8.94 12.80
2017‑01‑23 SC 13G SIGM / Sigma Designs SOROS FUND MANAGEMENT LLC 2,006,666 5.31
2017‑01‑23 SC 13D/A AT / Atlantic Power MANGROVE PARTNERS 8,581,212 7.4 11.75
2017‑01‑23 SC 13G/A GTLS / Chart Industries INTEGRATED CORE STRATEGIES (US) LLC 61,075 0.2 -96.02
2017‑01‑23 SC 13G CERN / Cerner GENERATION INVESTMENT MANAGEMENT LLP 17,191,115 5.1
2017‑01‑23 SC 13G/A BEL / Belmond Reuben Brothers Ltd 12,458,018 12.24 15.40
2017‑01‑23 SC 13G BDIC / Blow & Drive Interlock Doheny Group, LLC 9.99
2017‑01‑23 SC 13G OOMA / Ooma Park West Asset Management LLC 915,661 5.1
2017‑01‑23 SC 13G QCP / Quality Care Properties ABRAMS CAPITAL MANAGEMENT, L.P.
2017‑01‑23 SC 13D/A EVAR / Lombard Medical Abingworth LLP 12.4
2017‑01‑23 SC 13G MRUS / Merus INCYTE CORP 3,200,000 16.6
2017‑01‑23 SC 13G ELGX / Endologix Camber Capital Management LLC
2017‑01‑23 SC 13G/A MB / MINDBODY J.P. Morgan Investment Management Inc. 2,814,993
2017‑01‑23 SC 13G ENCR / Ener-Core Brio Capital Master Fund Ltd. 333,066 8.0
2017‑01‑23 SC 13G/A AAVL / Avalanche Biotechnologies WILF ZYGMUNT 5.2
2017‑01‑23 SC 13G/A HCHC / HC2 Holdings AMERICAN FINANCIAL GROUP INC 3,018,785 6.9 0.38
2017‑01‑23 SC 13G/A RWT / Redwood Trust WEITZ INVESTMENT MANAGEMENT, INC. 5,406,215 7.05 -13.22
2017‑01‑23 SC 13G/A ENZ / Enzo Biochem Evermore Global Advisors, LLC 3,312,792 7.2
2017‑01‑23 SC 13G SALT / Scorpio Bulkers Evermore Global Advisors, LLC 4,351,926 5.8
2017‑01‑23 SC 13D IDGS / ID Global Solutions Jones David Scott 17,626,072
2017‑01‑23 SC 13G/A DVD / Dover Motorsports MCGLYNN DENIS 5.6
2017‑01‑23 SC 13G SWH / Stanley Black & Decker, 6.25% Equity Units due 11 JP MORGAN CHASE & CO 12,810,720 8.5
2017‑01‑23 SC 13G/A SBBP / Strongbridge Biopharma Spetalen Eigil Stray 1,149,520 3.25
2017‑01‑23 SC 13G/A CTB / Cooper Tire & Rubber BlackRock Inc. 3,850,474 7.2 10.07
2017‑01‑23 SC 13G UIS / Unisys Royce & Associates LLC 2,660,101 5.31
2017‑01‑23 SC 13G PEI / Pennsylvania Real Estate Investment Trust APG Asset Management US Inc. 3,520,300 5.06
2017‑01‑23 SC 13D/A CORN / Teucrium Commodity Trust Counsel Portfolio Services Inc. 79,256 21.1349 28.59
2017‑01‑23 SC 13G/A UNF / Unifirst Royce & Associates LLC 812,482 5.26 -39.04
2017‑01‑23 SC 13G/A AGI / Alamos Gold Inc. Beutel, Goodman & Co Ltd. 6,848,800 2.56
2017‑01‑23 SC 13G APD / Air Products & Chemicals STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 3.25
2017‑01‑23 SC 13G OPXXW / Optex Systems Holdings LONGVIEW FUND LP 9.693
2017‑01‑23 SC 13G SJT / San Juan Basin Royalty Trust Nevada Capital Corp Ltd 2,000,000 4.29
2017‑01‑23 SC 13G/A ADGL / AllDigital Holdings ACT Capital Management, LLLP 0 0.0 -100.00
2017‑01‑23 SC 13D/A CYAN / Cyanotech Meridian OHC Partners, LP 749,610 13.3 0.00
2017‑01‑23 SC 13D/A JFC / JPMorgan China Region Fund CITY OF LONDON INVESTMENT GROUP PLC 2,536,568 39.3 -3.26
2017‑01‑23 SC 13D DSCI / Derma Sciences GARDNER LEWIS ASSET MANAGEMENT L P 2,171,945 7.7
2017‑01‑23 SC 13G ENUM / Enumeral Biomedical Holdings SATTERFIELD THOMAS A JR 6,419,200 5.0
2017‑01‑23 SC 13G/A ETRM / EnteroMedics CVI Investments, Inc. 8,179 0.3 -99.73
2017‑01‑23 SC 13G/A KSM / Deutsche Strategic Municipal Income Trust FIRST TRUST PORTFOLIOS LP 7.15