The Globe and Mail reports in its Wednesday edition that activist investors roared back to double-digit returns in 2023 after a year of losses, with a stronger equity market and savvy stock picking fuelling their rebound. A Reuters dispatch to The Globe says that more corporate battles appear to be in store as fresh capital is ready to flow into the sector and newcomers flirt with using tools made famous by veteran corporate agitators like Carl Icahn. Activist investors, who push corporations to change course or sell themselves, boasted an average 20.2-per-cent return last year. In 2022, activists lost an average 16 per cent. Some investors' returns were even better with Mason Morfit's ValueAct Capital posting a 39-per-cent return and Bill Ackman's Pershing Square Holdings reporting a 27-per-cent gain. Legion Partners Asset Management, which pushed for changes at Twilio among other companies, gained 35 per cent; health care-oriented Caligan Partners rose 37 per cent. Engaged Capital returned 29 per cent, Sachem Head Capital Management rose 24 per cent and Corvex Select Equity Fund rose 21 per cent. Activist investors in 2023 targeted large household name companies, including Walt Disney, Salesforce and Bayer.