364 documents showing 61–120
ACM Research, Inc. ACMR
ACMR trades at 1.1x revenue while its 82%-owned Shanghai subsidiary ACMS trades at 6x — a sum-of-parts gap that implies a 10-bagger as China's WFE self-sufficiency drive accelerates.
Smiths Group plc SMIN
Smiths' four-segment conglomerate structure masks a ~50-60% SOTP discount; the Board should launch a strategic review to sell the company or spin John Crane into a U.S. listing.
Fannie Mae and Freddie Mac FNMA / FMCC
Treasury's warrants and residual stake could generate ~$300bn for taxpayers over time
Fannie Mae & Freddie Mac (GSEs) FNMA / FMCC
Releasing GSEs from conservatorship could generate ~$300bn for taxpayers via Treasury warrants
FTAI Aviation Ltd. FTAI
FTAI is a dressed-up engine-leasing business posing as a high-margin MRO — whole-engine sales counted as three modules and intra-segment depreciation transfers fabricate the aerospace-aftermarket story.
Solventum Corporation SOLV
Solventum's post-spin performance collapse is nearly worst-in-class; restoring 3M-era 3-4% growth and 26% margins plus simplifying the portfolio can double shares to $140 by 2027.
Amcor plc (pro forma Amcor-Berry Global combination) AMCR
The Amcor-Berry merger creates a $36B packaging leader; executing $650M of conservatively-estimated synergies and a re-rate from 8x to 11x EBITDA delivers ~$16/share, a 50-70% upside.
Kao Corporation 4452
Kao is a sleeping FMCG giant whose under-ambition, inefficiency, and lack of focus have destroyed EVA; adding five independent directors with FMCG operating experience can unlock peer-level returns.
Dye & Durham Limited DND
Dye & Durham's Board and CEO Matt Proud destroyed value chasing a $1bn EBITDA target through reckless M&A; Engine's six-director slate and new CEO can triple the share price to $46 in three years.
Rio Tinto RIO
Rio Tinto's 29-year-old dual-listed structure has destroyed ~US$50bn of value; unifying into a single Ltd-led entity unlocks +27% near-term upside and restores scrip-M&A firepower.
Oklo Inc. OKLO
Oklo is a $3bn pre-revenue SPAC nuclear story whose 5x-lowballed fuel costs, unrealistic 2027 NRC timeline, and inexperienced 'Nuclear Bros' management mean shares should collapse as reality intrudes.
Public REIT sector (vs. private real estate)
Public REITs have crushed private real estate over 30 years (9.9% vs 7.0%); with institutions at GFC-low underweights and supply rolling over, listed REITs are a generational buy.
Peloton Interactive PTON
Peloton's overlooked subscription business — 68% gross margins, 1.5% churn — can deliver $400-500M EBITDA once costs are right-sized, implying a $7.50-$31.50 share price versus $5.48 today.
Pfizer Inc. PFE
Pfizer destroyed $20-60bn of value since 2019 despite a $40bn COVID windfall; Starboard wants the board to hold Bourla accountable for peer-median R&D/M&A returns.
Salesforce, Inc. CRM
Salesforce has executed Starboard's 2022 thesis — margins up 1,000bps, stock +99% — but committing to Rule of 50 by FY2028 still unlocks $20+ FCF/share at ~14x.
Pfizer Inc. PFE
Pfizer squandered its $40bn COVID windfall on overpriced M&A while delivering almost none of the 15 promised blockbusters; the Board must hold management accountable.
Salesforce, Inc. CRM
Salesforce's 2022 turnaround delivered +1,000bps margins and +99% stock; Starboard argues further cost discipline plus Agentforce growth can hit the Rule of 50 by FY2028 and $20+ FCF/share.
BP Plc BP
Renewables strategy is a series of U-turns with no consistency
Upwork Inc. UPWK
Engine argues Upwork is undervalued at ~6.5x EBITDA and that a refreshed board plus fixing the marketplace, focusing Enterprise, cutting bloat and aggressive buybacks unlocks substantial upside.
Lumen Technologies LUMN
Lumen's 400% AI-fueled rally is an optical illusion: $5bn in PCF deals is construction-contractor funding worth ~$1/share, masking an insolvent, secularly declining telco with $19bn debt.
Autodesk, Inc. ADSK
Autodesk's premier 93%-gross-margin software franchise is squandered under CEO Anagnost; Starboard demands cost cuts, compensation overhaul, buybacks and CEO re-evaluation to reach 45%+ margins and ~$15.50 FCF/share by FY2027.
Autodesk, Inc. ADSK
Autodesk's premier software franchise is squandered under CEO Anagnost — peer-lagging margins, missed Investor Day targets and manipulated billings demand a Board-led overhaul to unlock 45% operating margins.
C&C Group plc CCR
C&C has lagged peers by 81% since its 2019 LSE listing under four CEOs and a board owning 0.05%; electing Engine's two nominees brings M&A and capital-allocation expertise.
BP Plc BP
BP's Board greenlit an unlawful solar-planning strategy and a value-destroying green pivot; replace the Chair, Senior Independent Director and CEO, or halt the renewables burn.
Match Group, Inc. MTCH
Match owns Tinder and Hinge but trades at 8.5x FCF; fixing Tinder, lifting margins above 40%, and aggressive buybacks — or going private — closes a ~45% peer discount.
Match Group, Inc. MTCH
Match owns Tinder and Hinge yet trades at <8.5x FCF; fixing Tinder, lifting margins above 40%, and aggressive buybacks — or a sale — can unlock substantial upside.
Eurofins Scientific SE ERF
Eurofins' 800+ immaterial subsidiaries and 18 auditors enable sham sales and cash double-counting; new evidence, including a factoring denial contradicted by a former BU head, argues the financials cannot be trusted.
Autodesk, Inc. ADSK
Autodesk's Board tolerated years of underperformance and misleading billings disclosures; accountability, transparency, and a 1,000+ bps margin improvement can restore a best-in-class software franchise.
Autodesk, Inc. ADSK
Autodesk is a high-quality monopoly hobbled by board complacency and misleading billings disclosures; transparency, accountability, and a 1,000 bps margin fix unlock material upside.
Eurofins Scientific SE ERF
Muddy Waters is short Eurofins: controlling shareholder Dr. Gilles Martin has siphoned capital via above-market real-estate leasebacks for 20 years, and the financials appear engineered to overstate revenue, profits, and cash.
Autodesk, Inc. ADSK
Autodesk's Board misled shareholders on free cash flow and ran out the nomination clock; reopen the vote, refresh directors, and fix margins to close the peer gap.
Southwest Airlines LUV
Southwest has the worst margins of any major U.S. airline under a 74-year legacy leadership team; a new outside CEO, refreshed board and modernized commercial strategy can deliver a $49 share price, 77% upside.
Southwest Airlines LUV
Southwest lost 50%+ of market value in 3 years while peers thrived
Southwest Airlines LUV
Southwest lost 50%+ of market value and EV is below the value of its aircraft alone
Southwest Airlines LUV
Southwest's outdated strategy collapsed margins from best-in-class 21% to worst-in-class 8%
Riot Platforms, Inc. RIOT
Riot Platforms is a serial-diluting bitcoin miner with $140k+ all-in cost per coin, rising Texas regulatory risk, and a broken model increasingly obviated by low-fee BTC ETFs.
Texas Instruments TXN
TI's rigid $5bn/year capex ramp is building ~50% excess capacity and has collapsed FCF per share 75%; flex capex to demand and commit to $9.00+ per share by 2026.
BP plc BP
BP under Lund and Looney's failed energy-transition strategy has produced sector-worst TSR, a record valuation discount, and governance failures — the board must engage with dissenting shareholders.
Dye & Durham Limited DND
Engine wants Dye & Durham's board to abandon its arbitrary C$1bn EBITDA target, stop overpaying for acquisitions, and refocus on ROIC after 62% three-year shareholder losses.
Kao Corporation 4452.JP
Kao has top-decile brands (Curel, Biore, Molton Brown) but bottom-decile management with a 'growth allergy' — fixing it Beiersdorf-style unlocks 76-97% upside.
Parkland Corporation PKI
Parkland has failed on operations, capital allocation and governance; a strategic sale at 8-9x EBITDA would deliver ~$64/share, a 56% premium superior to the risky standalone plan.
Norfolk Southern Corporation NSC
Norfolk Southern is the worst-performing Class I railroad under Alan Shaw; replacing the Board and installing UPS/CSX operators to run PSR closes the 780bps OR gap and unlocks $420 per share.
Edgio, Inc. EGIO
Edgio trades at 0.13x sales despite serving Microsoft, Amazon, and Verizon; a takeout or rerating to peer CDN multiples implies $65-$200 per share — 6-10x upside.
TIM S.p.A. (Telecom Italia) TIT
Vote Bluebell's slate to replace TIM's worst-in-class CEO Labriola with Google Cloud exec Laurence Lafont, halt strategic chaos, and unlock ~100% upside versus European telco peers.
BlackRock, Inc. BLK
BlackRock's governance trails the S&P 500 on every metric, its stewardship team is overwhelmed, and TSR has merely tracked the market since 2009 — separate Chair and CEO to restore independent oversight.
BlackRock BLK
BlackRock's combined Chair/CEO and below-peer governance have delivered only market-matching TSR since 2009 and fuel greenwashing risk; shareholders should vote FOR an Independent Chair at the 2024 AGM.
BlackRock BLK
BlackRock's combined CEO/Chair role and entrenched Lead Independent Director leave the board without true oversight; bylaws should mandate an Independent Chair from AGM 2025.
Norfolk Southern NSC
Norfolk Southern is the worst-performing Class I railroad under CEO Alan Shaw's failed 'resilience railroading'; elect Ancora's slate to install Jim Barber as CEO, adopt true PSR, and unlock ~60% upside.
The Walt Disney Company DIS
Disney should lean into its 21%-ROIC Parks business and escape the streaming wars via bigger bundles and cross-studio collaboration — applying the Microsoft, NYT, and Spotify playbook ValueAct knows.
The Walt Disney Company DIS
Disney's decade of underperformance stems from a board lacking focus and accountability; electing Peltz and Rasulo brings ownership mentality to fix succession, streaming economics and capital allocation.
The Walt Disney Company DIS
Disney lost its way under a distracted, unaccountable board; replacing two directors with Peltz and Rasulo restores focus on DTC margins, CEO succession, and capital discipline.
The Walt Disney Company DIS
Disney's decade of underperformance stems from a passive Board; Trian's nominees Peltz and Rasulo will fix CEO succession, right-size legacy media, and drive DTC to Netflix-like 15-20% margins by 2027.
Carvana Co. CVNA
Carvana at $70 is priced as a tech disruptor, but it's 'just a dealership' with CarMax-like unit economics and a levered balance sheet — fair value is $16, -77%.
Kenvue Inc. KVUE
Kenvue is an iconic consumer-health portfolio underperforming its potential — fixing margins and Skin Health & Beauty execution can close a wide valuation gap to Haleon and staples peers.
Fairfax Financial Holdings Ltd. FFH
Muddy Waters is short Fairfax Financial, arguing it is 'the GE of Canada' — a serial accounting manipulator whose book value is overstated by ~$4.5bn (~18%) through value-destructive transactions.
Pershing Square Holdings (own closed-end fund review) PSH
PSH trades at a 27% discount to NAV despite 31.2% 5-yr compound NAV return
Elanco Animal Health ELAN
Elanco has destroyed billions under CEO Simmons and an insular classified board; replacing four directors at the 2024 AGM installs accountability and unlocks the animal-health turnaround.
GoDaddy Inc. GDDY
GoDaddy is a high-quality infrastructure business trading at a wide FCF-multiple discount; committing to 40% growth-plus-profitability and buying back stock unlocks $170-$200+ per share.
CPI Property Group S.A. CPIPGR
Muddy Waters is short CPI Property Group's credit: its €19.2B portfolio appears inflated via implausible Berlin gains, cherry-picked Bubny landbank comps, and occupancy rates realtor listings show are overstated by ~2x.
Parkland Corporation PKI
Parkland's entrenched board has driven a decade of peer underperformance and a sector-low 6.9x multiple; a shareholder-led board refreshment is needed to close the valuation gap.