Activist investor
An investor that takes a public stake in a company with intent to influence strategy, governance, or capital return.
Definition
An activist investor accumulates a stake (usually >5%, triggering Schedule 13D) in a public company and then publicly advocates for changes — board composition, M&A, capital allocation, divestitures, executive compensation. The 13D's Item 4 is the formal statement of intent.
Notable activist firms include Saba Capital (CEFs), Bulldog Investors, Karpus, Carl Icahn, Elliott Management, Starboard Value, Pershing Square, Engine No. 1, and Land & Buildings.
Related terms
Try it on your stack
Get an API key in 2 minutes. Self-serve via Stripe, cancel anytime.
View pricing → Read API docs