Engine Capital returned 6.15% net in the third quarter, bringing its year-to-date return to 10% for 2024. The Russell 2000 rose 9.3% for the third quarter for a year-to-date return of 11.2%. Meanwhile, the HFRI Activist Index rose 7.3% in the third quarter and is up 8.2% year to date.
Since its inception in July 2013, Engine Capital has gained 374.77% net, versus the Russell’s 165.9% gain and the HFRI Activist Index’s 94% return.
Turnaround for small caps
In this third-quarter letter to investors, which was obtained by Hedge Fund Alpha, Arnaud Ajdler recalled that he said in his…
