AMP was the best HFC stock up 24.29%, and the worst performner was AXP at -3.66%.
AKS was the best AC stock up 26.27%, and the worst performer was SLI at -19.4%.
There was a good article the other day in the NY Times about Hedge Fund Activism, and a new paper titled, “Hedge Fund Activism, Corporate Governance and Firm Performance.” The article confirms that activists generate statistically significant excess returns.
Barron’s also featured a good overview of San Diego based activist Relational Investors.
On to the portfolios.
HEDGE PORTFOLIO (names in bold are new, names below in italics are removed). UNH is the most often repeated stock (6 times), with QCOM second at 5 times. All the rest are 4 or less.
ACTIVIST PORTFOLIO (names in bold are new, names below in italics are removed)