This Activist Hedge Fund Is Driving Changes at Parkland and Orthofix Medical, Among Others

Engine Capital returned 5.53% net for the fourth quarter, bringing its net return for 2023 to 15.56%. Since its inception, the fund has returned 331.8% cumulatively. Meanwhile, the Russell 2000 gained 14.03% for the fourth quarter, 16.93% for 2023, and 139.2% since the inception of Engine Capital in July 2013. Additionally, the HFRI Activist Index returned 12.1% for the first quarter, 20.2% for 2023, and 82.6% since July 2013. Interestingly, Engine Capital returned 6.4% for 2022 — a year when the Russell 2000 plummeted 20.4% and the HFRI Activist Index tumbled 16.4%. Can the Fed engineer a soft landing? In…