Updated from 6:59 a.m. EDT

Most hedge funds are drastically underperforming the markets this year. In fact, since 2004, most hedge funds have actually underperformed the boarder markets, despite the huge bull market in stocks.

Since most hedge funds get paid based on their returns for the year, managers who do not want to underperform are turning to shareholder activism as a way to increase shareholder value and ultimately boost their returns.

Here at Stockpickr.com, we track many of the latest activist situations for those interested in piggybacking these activist funds.

Recent ideas include Collective Brands ( PSS), Sunoco ( SUN) and Barrier Therapeutics ( BTRX).

Want to piggyback some of these top hedge funds? To read the rest of the story, please click here.

A note from James Altucher:

Every weekend I send an email to Jim Cramer and several hedge fund managers about the most interesting portfolios posted on Stockpickr that week. Usually those portfolios not only list stocks according to a theme but also offer significant analysis as to why the stocks are cheap.

Here are some examples:

Here's the challenge: Build a portfolio at Stockpickr.com with great analysis, and send me the link. Each great portfolio (with analysis) will get posted on TheStreet.com with your byline (as a "Stockpickr Guest Columnist") and will be included in my email I send to Jim and the other hedge fund managers on my list.
Stockpickr is a wholly owned subsidiary of TheStreet.com.