What is an activist investor
One who buys a significant stake in a company to change it: board seats, a sale, cost cuts or a new strategy.
How to spot one
On crossing 5% with intent to influence, it files a 13D within 5 business days stating the purpose. That is usually where it announces what it wants to change.
Well-known activists
Nelson Peltz (Trian), Carl Icahn, Jeff Smith (Starboard Value), Mason Morfit (ValueAct), Paul Singer (Elliott) and Bill Ackman (Pershing Square).
Frequently asked questions
Where do I see recent 13D filings?
On GestorLens's 13D and 13G page, with the last 30 days.