Rocket, TaskUS, Appian, and More Stocks See Action From Activist Investors

These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity’s attaining more than 5% in any class of a company’s securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from July 10 through July 16, 2025. Source: VerityData

Original Filings

TaskUs (TASK)
Think Investments filed an initial 13D regarding its stake in the provider of outsourced digital services, shifting to the stance of an activist investor from previous disclosures in a passive 13G. In the latest filing, Think reported that it purchased 481,307 TaskUs shares from May 9 through May 15, 2025, at per share prices ranging from $16.50 to $16.80.

On May 9, TaskUs announced that it entered into a definitive agreement with an affiliate of Blackstone and its co-founders, CEO Bryce Maddock and President Jaspar Weir, to acquire 100% of the outstanding Class A shares that they do not already own for $16.50 per share in an all-cash transaction. The timing and pricing of the purchases suggest that Think may be preparing to oppose the current terms or advocating for a higher offer.

Following the latest purchases, Think Investments now owns 3,734,665 TaskUs shares, or 19.8% of those outstanding. Shares of TaskUS have gained roughly 1.6% in value in 2025.

Increases in Holdings

Cogent Biosciences (COGT)
Fairmount Funds Management raised its stake in the biopharmaceutical company to 14,324,918 shares. Fairmount Funds Management did so through the purchase of 2,777,777 Cogent Biosciences shares in a public offering on July 10, 2025, at a price of $9 per share. Following the latest purchase, Fairmount Funds Management owns 9.9% of Cogent Biosciences’ outstanding stock. Shares of Cogent Biosciences have gained approximately 53.7% in value since the beginning of this year.

Rocket Cos. (RKT)
ValueAct Capital increased its holding in the mortgage lender and financial-services firm to 22,704,955 shares, or 8.9% of shares outstanding. The value-oriented hedge fund purchased 2,977,828 Rocket shares from July 7 through July 11, 2025, at per share prices ranging from $13.46 to $13.94. Those purchases followed ValueAct’s July 2 acquisition of 4,601,581 shares as part of Rocket’s stock-for-stock acquisition of Redfin. ValueAct has invested $287,559,161, or $12.67 per share, to acquire its holding in Rocket Cos., inclusive of its earlier investment in Redfin. In a May 13D filing, ValueAct disclosed that it spoke with Rocket’s management and board members about a wide range of issues, including possible board representation.

Decreases in Holdings

Appian (APPN)
Abdiel Capital Advisors lowered its stake in the business-process management platform to 7,028,847 shares. Abdiel Capital Advisors did so through the sale of 718,094 Appian shares from June 11 through July 9, 2025, at per share prices ranging from $29.59 to $31.55. Following the latest sales, Abdiel Capital Advisors continues to own 16.3% of Appian’s outstanding stock. Shares of Appian have lost roughly 13.6% of their value since the beginning of this year.

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