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U.S. Activist

Richard Toad

Richard Toad

— 22 min read

70 U.S. activist hedge funds

This list will be updated when there are notable fund closures or new launches. Updated as of 7/17/2025

  • I try to focus on the pure-play activist funds that run enough campaigns. Plenty of event-driven hedge funds dabble in activism, I will cover them in the event-driven primer instead.
  • By nature, activist funds tend to run concentrated portfolios — it's about as close to a private equity-style approach as you’ll find in public markets. So I will not point out that feature for each fund.
  • Most activist funds aren’t doing activism year-round. The rest of the time, they operate like any other long/short event-driven or value-oriented fund (think: Third Point).

Let’s dive in.

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