Activist investing remains a vibrant and growing hedge fund strategy; for example, there have already been 20 percent more activist campaigns at large-cap companies for the first three quarters of 2016 than the total number of such campaigns in 2015. See “Key Trends in Fund Structures (Part Two of Two)” (Jul. 30, 2015). Schulte Roth & Zabel, together with Activist Insight and FTI Consulting, recently asked three dozen activist investors about their perspectives on shareholder activism. The survey report discusses the findings on emerging trends in activism and settlements; activist tools; areas of opportunity; effectiveness of defenses; and growth prospects for activist funds. This article summarizes the key takeaways from the report. For more from Schulte partner Marc Weingarten, one of the report’s authors, see “Can Activist Hedge Fund Managers Provide Special Compensation to Nominees That Are Elected to the Board of a Target?” (Apr. 25, 2014).