399 documents showing 1–60
Welltower Inc. WELL
Welltower's 10-year executive program could pay CEO Mitra up to $3 billion while incentivizing dilutive growth at a 144% NAV premium — shareholders should sell WELL and rotate into Ventas or AHR.
Multiple REITs (21 underperformers)
Land & Buildings names 21 REIT CEOs who trail their own proxy peers on 1-, 3-, and 5-year TSR yet collect multi-million packages — shareholders should vote against say-on-pay and the comp committees.
CarMax Inc. KMX
CarMax's omnichannel flywheel is intact but stalled; new CEO Keith Barr can unlock value by fixing digital conversion, reconditioning costs, dynamic pricing, and SG&A discipline.
Lamb Weston Holdings, Inc. LW
Lamb Weston's recovery is real but insufficient; doubling cost cuts to $500M, targeting 4.5% SG&A, and divesting APAC can restore 25% EBITDA margins at a 6.7x multiple.
Credit Acceptance Corporation CACC
Citron reverses course on CACC: with CFPB/NYAG overhang resolved Feb 13 2026, 61% of float retired, and an Amazon-bred CEO, fair value is $714 (16x 2026E EPS of $44.62).
Riot Platforms, Inc. RIOT
Riot's 1.7GW of powered Texas sites could generate $1.6bn of AI/HPC EBITDA and drive shares to $23-$53 if management urgently signs more hyperscaler deals like the AMD proof-of-concept.
Tripadvisor, Inc. TRIP
Tripadvisor's Board has tolerated ~50% value destruction under CEO Goldberg; Starboard demands a sale of the entire company or will run a majority-slate proxy fight at the 2026 meeting.
Pershing Square Holdings PSH.L
PSH NAV grew 20.9% and TSR 33.9% in 2025, beating S&P, FTSE 100 and HFRX Activist indices
Toyota Industries Corporation 6201.T
Toyota Real Estate's ¥18,800 TOB undervalues Toyota Industries by 39% versus NAV and 85% on core business; shareholders should refuse to tender and pursue a standalone plan instead.
Toyota Industries Corporation 6201
Toyota Industries' ¥18,800 take-private undervalues the company by 39%; shareholders should reject the tender and pursue a Standalone Plan worth >¥40,000 per share.
Toyota Industries Corporation 6201
Toyota Industries' ¥18,800 take-private undervalues NAV ¥26,134 by 40%; rejecting the TOB and executing Elliott's Standalone Plan unlocks >¥40,000 per share by 2028.
Toyota Industries Corporation 6201
Toyota Fudosan's ¥18,800 squeeze-out of Toyota Industries undervalues NAV by ~40%; reject the TOB and back Elliott's Standalone Plan targeting >¥40,000 per share by 2028.
UniFirst Corporation UNF
Engine urges UniFirst's independent directors to form a special committee and force a sale — the Croatti family's rejection of four Cintas bids has already cost shareholders ~$1.3B.
Multiple (BILL Holdings, Tripadvisor, Fluor Corporation)
Three contrarian longs at undemanding multiples: BILL needs Rule of 40 discipline, Tripadvisor should break up TheFork and fix Viator, and Fluor must separate its $4bn NuScale stake.
Tripadvisor, Inc. TRIP
Tripadvisor trades at 6.5x EBITDA, half its peers, because investors still view it as a controlled legacy Tripadvisor.com — sell TheFork, fix Viator margins, revitalize the brand, or take the $18-19/share bid.
PepsiCo Inc. PEP
PepsiCo is a dislocated CPG bellwether; refranchising PBNA bottling, rightsizing PFNA costs and enforcing accountability can rerate the stock for 50%+ upside.
PepsiCo Inc. PEP
Elliott argues a refocused PepsiCo — refranchising PBNA bottling, realigning PFNA's cost base, divesting non-core assets and setting new targets — can re-rate to peers and deliver 50%+ upside.
CoreWeave, Inc. CRWV
CoreWeave is a debt-fueled, undifferentiated GPU rental stopgap with 71% Microsoft concentration and sub-WACC returns; fair value is $6–13, or 88–95% downside.
Pure Storage, Inc. PSTG
Pure Storage's hyperscaler dream is hype: HDDs dominate at 5-6x TCO advantage, the Meta deal is replicable, and Pure deserves a peer multiple, implying ~55% downside to $35.
Avantor, Inc. AVTR
Avantor's board has presided over five years of self-inflicted operational and capital-allocation failures; a refreshed board, cost discipline, buybacks and portfolio optimization can deliver 97-134% upside by 2027.
Aurora Innovation, Inc. AUR
Aurora's autonomous trucking vision is a dead end: tech can only enable hub-and-spoke freight, drayage kills the economics, and the real TAM is smaller than the company's $13bn market cap.
Sumitomo Realty & Development Co., Ltd. 8830
Sumitomo Realty trades at half its post-tax real-estate NAV due to excessive cross-shareholdings, weak payouts, and worst-in-class TOPIX 100 governance; fixing these unlocks 43% upside to ~¥8,000.
Forward Air Corporation FWRD
Ancora urges FWRD shareholders to vote AGAINST Chair Mayes, Polit, and Tucker — the directors behind the disastrous 2023 Omni acquisition that destroyed ~80% of equity value — to force an expedited sale.
Phillips 66 PSX
Phillips 66's conglomerate structure masks value; electing Elliott's four nominees to execute the Streamline 66 plan and fix governance lifts shares from $103 to $180+ (75% upside).
Phillips 66 PSX
Phillips 66's refining-plus-midstream conglomerate trades at a 6.1x discount to an 8.1x SOTP; breaking it up and replacing complacent directors unlocks ~75% upside to $183.
Phillips 66 PSX
Phillips 66 is deeply undervalued under a conflicted, overpaid leadership team; electing Elliott's four directors and adopting the Streamline 66 portfolio-simplification plan could unlock 75%+ upside.
Phillips 66 PSX
Phillips 66 has underperformed Marathon and Valero for years while CEO Mark Lashier collected $79M; elect four Elliott nominees to break up the conglomerate and restore accountability.
Phillips 66 PSX
Phillips 66 shares jumped 11% on Elliott's Streamline 66 plan and sank when the board defended its conglomerate; vote for change to unlock value.
Phillips 66 PSX
Phillips 66 has underperformed Marathon by 511% under a complacent board; electing Elliott's four nominees and spinning Midstream/CPChem/JET unlocks ~75% upside ($103 → $183).
Phillips 66 PSX
Phillips 66 is a conglomerate trading at a refiner multiple; replace four directors, spin Midstream/CPChem/JET, and buy back 80% of shares for ~75% upside to $183.
Phillips 66 PSX
Phillips 66 has squandered value through a failed midstream pivot and a captured board; electing Elliott's four nominees and separating midstream unlocks ~$40B+ of trapped value.
Phillips 66 PSX
Phillips 66's dilutive midstream pivot has destroyed TSR versus refining peers; a midstream spin and refreshed governance — as at Marathon and Suncor — can unlock the buried value.
Phillips 66 PSX
Phillips 66's conglomerate structure traps midstream value and operational performance; replace four directors and separate midstream to close the gap with MPC and VLO peers.
Phillips 66 PSX
Phillips 66's conglomerate structure and failed governance have cost shareholders 97% vs. peers; spinning Midstream and reconstituting the board targets $183/share — +75% upside.
Phillips 66 PSX
Phillips 66's conglomerate discount and lagging refining execution have cost shareholders 450% vs peers; spinning midstream, divesting CPChem, and refreshing the board unlock ~75% upside to $183.
Phillips 66 PSX
Phillips 66's conglomerate structure has trapped value and lagged peers by 97% over 5 years; spinning midstream, fixing refining and refreshing the board unlocks ~75% upside to $183/share.
Keisei Electric Railway 9009
Keisei trades at a 39% discount because its US$5bn OLC stake masks chronic underperformance; capping it below 15% plus a refreshed 11-member board unlocks US$3bn.
Phillips 66 PSX
Phillips 66 is a chronically underperforming energy conglomerate; Elliott seeks four board seats and annual director elections to drive a breakup, refining turnaround and midstream separation.
Phillips 66 PSX
Phillips 66's conglomerate structure suppresses refining performance; spinning midstream and electing Elliott's four nominees replicates Marathon's ~150% outperformance playbook and restores PSX to industry leadership.
Phillips 66 PSX
Phillips 66 is an underperforming energy conglomerate whose midstream and non-core assets should be sold or spun, with four Elliott nominees added to the board to drive the Streamline 66 plan.
Phillips 66 PSX
Phillips 66's three-business conglomerate is the root cause of peer underperformance; electing Elliott's four nominees and fully separating midstream from refining unlocks substantial value.
Phillips 66 PSX
Elliott's $2.5B Phillips 66 stake argues that unlocking midstream value, returning capital and upgrading the board can drive PSX from $120 to $200+, a 65% upside.
D-Wave Quantum Inc QBTS
D-Wave's quantum annealing is a commercial dead end, its 'hybrid' solvers are almost entirely classical, and at 57x 2026E revenue the stock will collapse as reality sets in.
Vishay Precision Group VPG
VPG is the unnoticed picks-and-shovels supplier of precision sensors to Tesla's Optimus humanoid program; at $300M market cap and 0.9x book, Wall Street has completely missed the asymmetric upside.
Phillips 66 PSX
PSX has underperformed peers for a decade and the CEO is talking down the stock
Autodesk, Inc. ADSK
Autodesk's long-term share price and margin underperformance reflects a board incapable of holding management accountable; electing Starboard's three nominees installs oversight needed to drive non-GAAP operating margins to 41-42% by FY2028.
Phillips 66 PSX
Streamline 66 plan could boost Phillips 66 stock 65%+ (from $120 to $200)
Phillips 66 PSX
Phillips 66 trades at $120 vs. Elliott's $200 Streamline 66 target — 65% upside
Phillips 66 PSX
Phillips 66's refining + midstream conglomerate has underperformed pure-play peers by up to 188% over a decade; separating the businesses would eliminate the structural discount.
Autodesk, Inc. ADSK
Autodesk has best-in-class 93% gross margins but bloated opex; disciplined cost cuts plus 55% incremental margins can lift adjusted operating margins to ~45% by FY2028.
Phillips 66 PSX
Phillips 66's conglomerate structure masks world-class midstream and chemicals assets; separating them, fixing refining, and refreshing the board closes a decade-long 188% TSR gap versus peers.
Phillips 66 PSX
Phillips 66's refining kit rivals Valero's, but weak commercial execution and bloated corporate leave a multi-dollar EBITDA-per-barrel gap that Streamline66 — portfolio fixes and a refreshed board — closes.
Kao Corporation 4452.JP
Kao is Japan's underperforming FMCG giant; adding five expert directors with FMCG, cosmetics and digital expertise plus performance-aligned pay can close the peer gap and revive growth.
Kao Corporation 4452 JT
Kao's world-class beauty brands are squandered by an insular Japanese board; adding five global FMCG outside directors and performance-linked pay can close the gap to L'Oreal and Beiersdorf.
United States Steel Corporation X
U.S. Steel has lagged peers by 227 points under Burritt; with the Nippon deal dead, Ancora's slate would install Stelco-turnaround CEO Kestenbaum to fix the company as a standalone public co.
Howard Hughes Holdings Inc. HHH
HHH stuck at ~40% NAV discount with no take-private bidder after 284 investors approached
Phillips 66 PSX
Phillips 66's conglomerate hides world-class midstream worth $40bn+; spinning midstream, closing the $3.75/bbl refining gap to Valero, and refreshing the board can lift PSX from $120 to $200+.
Phillips 66 PSX
Conglomerate structure hides a Midstream worth >$40bn standalone; market gives refining ~$1bn of credit
Phillips 66 PSX
Inefficient conglomerate structure trades like a refiner despite ~40% of EBITDA from midstream
Pershing Square Holdings (self) PSH.NA / PSHD.LN
PSH trades at a 30% discount to NAV despite 22.9% 7-year compound NAV returns