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13d Activist Filing Drift
Updated dailyData needs: mediumlong only
paper
2008
Source
Brav, A., Jiang, W., Partnoy, F., Thomas, R. (2008). "Hedge Fund Activism, Corporate Governance, and Firm Performance." Journal of Finance, 63(4), 1729-1775.
Read the paper →
In plain terms
Activist 13D filing → +12% over 2 years.
How it works
SC 13D filings (>5% stake with activist intent) earn ~7% event CAR + ~5% drift 12-24m.
Live results
0 times picked on its own · 98 times inside a blend (76 beat the stock) · updated 2026-06-06This strategy is a frequent ingredient in blends that combine a few strategies on one stock. It has contributed to 98 such blended picks (76 of which beat simply holding the stock). Picking it on its own is only one of the ways it shows up.
How its picks scored vs. buy & hold
Each pick is graded on a recent year it was never tuned on, against simply owning the same stock
Where its edge concentrates
Share of picks in each company-size group that beat buy & hold
How often it trades
Active vs. patient. Bars on the left mean it waits for rare setups; bars on the right mean it trades often
Return vs. buy & hold
How much each pick beat or trailed simply owning the stock over the test year (extreme microcap moves trimmed)
Loading substrate evidence…
Data dependencies
- SEC 13d filings
A data feed this strategy reads, refreshed on its normal schedule.
- Daily prices
Adjusted-close OHLCV for every US-listed ticker; primary price feed.
Expected edge
- Reported return
- ~+12% CAR
- Tested over
- T+30d to T+720d
Brav et al 2008: ~12% combined CAR.
Example tickers where this is likely to fire
Illustrative only, the signal fires based on the live data, not a fixed list.
Related families
Explore 13d Activist Filing Drift on alphactor.ai
See which tickers this family is currently firing on, with live signals and rankings.