13D Activist Fund
DDDCX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 225 Pictoria Drive Cincinnati OH United States of America 45246
- IPO Date
- Dec 11, 2012
- CIK
- 0001314414
- Website
- 13dactivistfund.com
- Similar Companies
- Business
- 13D Activist Fund (DDDCX) is an open-end mutual fund that seeks capital appreciation by investing primarily in common stocks of U.S. companies across all market capitalizations that are targets of shareholder activism, as indicated by Schedule 13D filings where investors disclose beneficial ownership exceeding 5% and intent to influence management; the fund is non-diversified and focuses on activist catalysts including corporate governance improvements such as board composition changes, operational enhancements like margin expansion and management reforms, strategic actions encompassing mergers, acquisitions, spin-offs or asset sales, and financial engineering such as balance sheet optimization. It offers Class C shares (DDDCX) with a net expense ratio of 2.51%, daily pricing, and a minimum initial investment of $2,500, alongside Class I shares (DDDIX); the fund maintains a concentrated portfolio of 20 to 40 positions, with top holdings typically comprising around 30% of assets in sectors like consumer cyclical, technology, industrials, and communication services, primarily in the United States with minor non-U.S. exposure. Managed by 13D Management LLC since inception, the fund targets institutional and retail investors seeking exposure to event-driven activism strategies without direct access to hedge funds. Founded on December 28, 2011, by Ken Squire, Chief Investment Strategist and former founder of 13D Monitor—a leading research service on activist filings—the fund is headquartered in Omaha, Nebraska, with operational ties to New York; 13D Management LLC serves as the registered investment adviser, drawing on Squire's extensive experience in corporate law, private equity, and activism analysis. In the first quarter of 2025, the fund executed portfolio adjustments by exiting four positions—Bausch & Lomb Corp., Canadian National Railway, Fortrea Holdings Inc., and Healthcare Realty Trust—due to diminished activist catalysts following sale process conclusions, flat performance, and settlements lacking implementation potential; it initiated four new investments in Kenvue Inc. (Starboard Value, targeting Skin Health and Beauty marketing via omni-channel and digital strategies post cooperation agreement appointing three directors including Jeffrey Smith), Middleby Corp. (Garden Investments, emphasizing commercial foodservice margin improvements, core business refocus, and capital allocation after appointing Ed Garden and Julie Bowerman to the board), Qorvo Inc. (Starboard Value, pursuing semiconductor operational efficiencies like S,G&A and R&D discipline amid merger history and vulnerability to board changes), and Yeti Holdings Inc. (Engaged Capital, advocating geographic/product expansion, investor communications, and buybacks via board additions of Arne Arens and J. Magnus Welander). These moves align with heightened activism activity, surpassing 2024 levels with 45 new North American campaigns in Q1 2025 versus 36 prior year, amid market volatility from tariffs yet poised for M&A resurgence. As of March 31, 2025, assets under management stood at approximately $115 million, with the fund delivering inception-to-date annualized returns of 9.41% for Class I shares.