Intelligence roster · 22 billionaire desks

The 22 Activist Hedge Funds Billionaires Run — Tracked in Real Time

EMI monitors 22 of the most consequential activist and event-driven hedge funds on the planet — the Elliott, Pershing Square and Icahn-class desks whose 13D filings have historically preceded multi-bagger corporate events. When one of them moves, you know within minutes. When two of them converge on the same ticker, EMI upgrades it to a Tier A trade alert.

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  • 22 activist desks
  • ~$400B+ combined AUM tracked
  • <5 min SEC-to-alert latency
  • 24/7 EDGAR surveillance

Entity · Activist hedge fund

What is an activist hedge fund?

An activist hedge fund is an investment firm that acquires significant equity stakes in public companies and then pushes for specific corporate changes — board seats, spin-offs, buybacks, management replacement or strategic sale. Activists are legally required to file a 13D with the SEC within 10 days of crossing the 5% ownership threshold with intent to influence management.

That filing is public. It is also the single highest-signal disclosure in public markets, because it reveals the positioning of a fund whose entire business model is being right — with their own capital — about the future of a specific company. EMI exists to surface these filings at machine speed and fuse them with every other signal that confirms the thesis.

Why this roster · Composition

The roster, by the numbers

The 22-fund roster is not picked by popularity. Each desk has a multi-year record of filings that preceded outsized returns, a publicly defensible process, and a style edge that is additive to the others. Together they give EMI coverage across every activist archetype in the market.

  • Funds tracked
    22
    Every one with a documented 13D-to-return track record.
  • Combined AUM
    $400B+
    Approximate combined assets under management across the roster.
  • Filings/year
    180+
    13D, 13G and amendment filings monitored per calendar year.
  • SEC-to-alert
    <5min
    Median latency from EDGAR publication to EMI dispatch.

The roster · 22 desks

Every activist fund EMI tracks, in one place

Each card below is a live intelligence channel. When any of these funds files, amends, or exits a position, EMI runs it through Phase 3 enrichment and Phase 5 correlation before dispatching.

  1. 01 · Paul Singer

    Elliott Management

    AUM ~$65B · Global activist

    Distressed debt, governance campaigns, tech break-ups. Ruthless, litigious, high signal.

  2. 02 · Bill Ackman

    Pershing Square Capital

    AUM ~$18B · Concentrated activist

    Large-cap consumer & industrial. Public thesis decks. Infamous macro hedges.

  3. 03 · Carl Icahn

    Icahn Capital

    AUM ~$15B · Raider archetype

    Board shake-ups, spin-offs, buyback pressure. The original activist playbook.

  4. 04 · Mason Morfit

    ValueAct Capital

    AUM ~$12B · Constructive activist

    Long-horizon board engagement. Operational improvement without public fights.

  5. 05 · Daniel Loeb

    Third Point

    AUM ~$13B · Event-driven activist

    Public letters, tech and consumer campaigns. Fast-moving, narrative-heavy.

  6. 06 · Jeff Smith

    Starboard Value

    AUM ~$9B · Operational activist

    Mid-cap & tech board campaigns. High win-rate on board seat wins.

  7. 07 · Nelson Peltz

    Trian Partners

    AUM ~$11B · Consumer & industrial

    Food, beverage, industrial engagements. Proxy-fight specialist.

  8. 08 · Barry Rosenstein

    Jana Partners

    AUM ~$2B · Event-driven

    M&A and spin-off activism with an ESG overlay.

  9. 09 · Charlie Penner / Chris James

    Engine No. 1

    AUM ~$0.5B · Governance-first

    The fund that won board seats at ExxonMobil. Climate-and-governance operator.

  10. 10 · David Einhorn

    Greenlight Capital

    AUM ~$2B · Value-driven

    Long/short value. Public short theses. Sharp macro overlays.

  11. 11 · Matthew Halbower

    Pentwater Capital

    AUM ~$5B · Merger arb

    Event-driven and merger-arbitrage. Heavy 13F disclosure reader.

  12. 12 · Scott Ferguson

    Sachem Head

    AUM ~$3B · Concentrated activist

    Ex-Pershing Square partner. High-conviction long/short activism.

  13. 13 · Keith Meister

    Corvex Management

    AUM ~$3B · Mid-cap

    Ex-Icahn lieutenant. Mid-cap constructive activism.

  14. 14 · Jonathan Litt

    Land & Buildings

    AUM ~$0.5B · REIT specialist

    Real estate and REIT activism. Asset-value unlocks.

  15. 15 · Cliff Robbins

    Blue Harbour

    AUM ~$2B · Collaborative

    Behind-the-scenes operational improvement. Low-drama, high-signal.

  16. 16 · Bradley Vizi

    Legion Partners

    AUM ~$0.6B · Small-cap

    Small and mid-cap governance activism. Proxy-contest operator.

  17. 17 · Christer Gardell

    Cevian Capital

    AUM ~$15B · European activist

    Europe's largest constructive activist. Long-horizon.

  18. 18 · Fred DiSanto

    Ancora Advisors

    AUM ~$8B · Small-cap

    Small-cap governance activism. Frequent proxy-fight filer.

  19. 19 · Paul Hilal

    Mantle Ridge

    AUM ~$3B · Concentrated

    Ex-Pershing Square. Board-level operational activism.

  20. 20 · Carlo Cannell

    Cannell Capital

    AUM ~$0.7B · Short-bias

    Short-bias activist. Small-cap fraud & governance targeting.

  21. 21 · Willem Mesdag

    Red Mountain Capital

    AUM ~$0.4B · Micro-cap

    Micro and small-cap activism. Long-horizon board engagement.

  22. 22 · Lauren Taylor Wolfe

    Impactive Capital

    AUM ~$2B · ESG activism

    ESG-integrated active engagement. Long-duration constructive campaigns.

EMI Operating Principle

One activist filing is a signal. Two funds converging on the same ticker inside 30 days is a prosecution. EMI's GNN fuses convergence across the full 22-fund roster — you stop reading press releases and start watching billionaires agree in public.

— EMI Trader PM agent, live regime: bullish

Ingestion pipeline · How EMI watches the roster

How EMI turns a 13D filing into a trade alert in under 5 minutes

Every one of the 22 funds is wired into EMI's 12-phase autonomous stack. A new SEC filing triggers a cascade — resolve, enrich, correlate, construct, gate, dispatch — and only the filings that pass a three-layer integrity check become Tier A or Tier B trade alerts in your Discord, SMS or email.

  1. 01 · Detect

    SEC EDGAR ingestion

    EMI polls EDGAR continuously. The moment a 13D, 13G, 13F or amendment is published by any of the 22 tracked funds, the filing is captured, parsed and entity-resolved to a specific ticker.

    Phase 1
  2. 02 · Enrich

    Conviction memory lookup

    EMI pulls every prior filing by this fund, every prior idea on this ticker, every macro regime the fund has filed into historically — and scores this new filing against that memory.

    Phase 3
  3. 03 · Correlate

    GraphSAGE GNN fusion

    The filing is routed through EMI's graph neural network. The GNN checks for overlap with other active theses — news, macro events, patent filings, supply-chain moves, and — critically — other activist fund filings.

    Phase 5
  4. 04 · Convict

    Trade construction

    If conviction passes threshold, EMI builds a full trade plan: entry, stop, targets, position size, risk-reward floor (2.0 for options, 1.5 for stocks/futures/forex), and asset-class-specific structure checks.

    Phase 6
  5. 05 · Dispatch

    Three-layer integrity gate

    Alert invariant validator → distributor contract guard → TRADE_CONTRACT_INCOMPLETE backstop. Any missing price, target, or structure snapshot blocks dispatch. Only clean trades reach your Discord.

    Phase 7

FAQ · Fund roster

Frequently asked questions

  • Which 22 activist hedge funds does EMI track?

    Elliott Management, Pershing Square, Icahn Capital, ValueAct, Third Point, Starboard Value, Trian Partners, Jana Partners, Engine No. 1, Greenlight Capital, Pentwater Capital, Sachem Head, Corvex Management, Land & Buildings, Blue Harbour, Legion Partners, Cevian Capital, Ancora Advisors, Mantle Ridge, Cannell Capital, Red Mountain Capital and Impactive Capital.

  • Why only 22 funds — isn't more better?

    No. Activist coverage follows a power law. The 22 funds on EMI's roster account for the majority of high-impact 13D filings by track record. Adding lower-signal funds would dilute conviction scoring and degrade alert quality.

  • How fast does EMI alert on a new activist filing?

    Median latency is under 5 minutes from SEC EDGAR publication to Discord, SMS or email dispatch — assuming the filing passes EMI's three-layer integrity gate.

  • Can I filter alerts by specific fund?

    Yes. Pro-tier subscribers can subscribe to per-fund channels in Discord or receive SMS only for specific fund matches. Starter subscribers get the full, unified activist feed.

  • What happens when two funds converge on the same ticker?

    EMI upgrades it. Multi-fund convergence — two or more of the 22 funds positioning in the same security inside a narrow window — is treated as a separate, higher-priority signal. See the convergence page →

  • Does EMI include passive institutional holders like BlackRock or Vanguard?

    No. Passive institutional flow is available in every 13F filing and carries no directional intent. EMI's roster is strictly activist and event-driven desks whose filings carry a thesis — not index-tracking weight changes.

Keep going · Related intelligence

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