59 documents showing 1–59
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).
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.
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 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.
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
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.
Eurofins Scientific SE ERF
Eurofins' €556m 'excess cash' earned just 1.42% vs banks' quoted ~2.88%, echoing the NMC Health fraud tell; only radical disclosure on cash, entities, and Dr. Martin's real estate can clear it.
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.
The Walt Disney Company DIS
Disney squandered a winning hand through a weak, unfocused Board; electing Peltz and Rasulo brings the shareholder mindset needed to reverse years of TSR underperformance.
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
CPI PG's Italian landbank and St. Tropez villa deals show ~€100M in unexplained cash and receivables gaps, suggesting controlling shareholder Vitek is using bondholder money to strip assets and launder cash.
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.
Blackstone Mortgage Trust, Inc. BXMT
BXMT's borrowers only stay current because of expiring rate swaps; as ~$16B of swaps terminate in 2024, dividend cuts of 33-85% and $2.5-4.5B of loan losses could wipe out the $4B market cap.
GoDaddy Inc. GDDY
GoDaddy is a scale-leading infrastructure business trading at 11x FCF; replaying Starboard's Splunk/Wix/Salesforce margin-expansion playbook can close a 37% peer gap and re-rate the stock.
GoDaddy GDDY
GoDaddy missed its 2022 Investor Day commitments as Tech & Development costs ballooned; cutting costs to hit 33%+ EBITDA margins re-rates FCF/share to $10+ and closes the peer-multiple gap.
GoDaddy, News Corp, Fortrea
Starboard pitches three ideas: News Corp should separate Digital Real Estate to unlock ~50% upside, GoDaddy should expand margins to 33%+, and Fortrea can hit 18% peer margins under Tom Pike.
GoDaddy Inc. GDDY
GoDaddy has missed its 2022 Investor Day targets as Tech & Dev expenses ballooned; cutting costs to a 40% growth+profitability exit rate and adding a Starboard director unlocks a ~40% valuation re-rating.
Chinook Therapeutics KDNY
Chinook manipulated 2021-2022 revenues via its Chinese JV SanReno; strip out the accounting tricks and reported revenue collapses by 95% and 68% respectively, reinforcing our short.
Alexandria Real Estate Equities, Inc. ARE
Alexandria's life-science office portfolio is being hit by the same WFH hurricane as traditional offices, and shares face 30-40% downside if re-rated to coastal office REIT peers.
Vitesco Technologies VTSC
Vitesco trades at €2.6B EV — less than its ICE business alone is worth (€2.9-4.3B at peer multiples); buy the stock and get the high-growth EV-powertrain unit for free.
LivePerson, Inc. LPSN
LivePerson's Founder-CEO LoCascio has destroyed value and ignored governance; Starboard is launching a 2023 proxy fight to force a CEO change or sale of the company.
Glencore Plc GLEN
Glencore's unsolicited Teck bid is structurally flawed; Glencore should first demerge thermal coal, Oil Marketing and Viterra, then merge with Teck to unlock a world-class transition-metals leader.
Alphabet GOOGL
Alphabet's January layoffs are a start but insufficient; management must cut headcount ~20% to 150,000 and slash excessive pay, including stock-based comp.
Alphabet GOOGL
Alphabet's cost base is bloated — headcount up 20% CAGR since 2017, pay 67% above Microsoft, Other Bets bleeding $20bn; cut costs, target a 40% Google Services margin, and buy back stock aggressively.
AST SpaceMobile, Inc. ASTS
AST SpaceMobile is a $1.8bn 2021-SPAC promoting a physically implausible direct-to-handset satellite broadband dream; the technology won't work as hyped, timelines keep slipping, and SpaceX/Apple competition eliminates any lead.
Hannon Armstrong Sustainable Infrastructure Capital HASI
HASI is 'dumb money' in renewables JVs — sponsors cash out while HASI books non-cash HLBV income on investments unlikely to ever pay out, inflating reported earnings over real economics.
Hannon Armstrong Sustainable Infrastructure Capital HASI
HASI is a short: its GAAP and non-GAAP 'Distributable Earnings' are inflated by three non-cash accounting tricks and roundtripped SunStrong loans, masking a cash-losing, capital-raise-dependent business.
Houghton Mifflin Harcourt HMHC
Veritas's $21/share buyout of Houghton Mifflin steals the company for 7.6x 2024 UFCF; reject it and execute a standalone Dutch tender recap to reach ~$42 by 2024.
Huntsman Corporation HUN
Huntsman underperformed the S&P 500 by 337% from IPO to Starboard's involvement
Pershing Square Holdings (fund-level annual update; covers portfolio including Lowe's, Universal Music Group, Hilton, Chipotle, Restaurant Brands, Howard Hughes, Domino's, Netflix, PSTH) PSH
PSH delivered 26.9% NAV return in 2021 and 50.1% 3-yr CAGR, outperforming activist and equity hedge indices
Mercury Systems, Inc. MRCY
Rights Plan is not in the best interests of Mercury Systems shareholders
Huntsman Corporation HUN
Three consecutive Investor Days (2014, 2016, 2018) missed EBITDA targets by hundreds of millions
KE Holdings BEKE
BEKE is systemic fraud: platform scraping and field work show new-home GTV inflated ~126%, revenues inflated 77-96%, with ghost stores, clone stores, and a sham acquisition masking the deception.
Astra Space, Inc. ASTR
Astra is a SPAC-bubble rocket company with no revenue, an undersized non-reusable vehicle, and fantastical 300-launch-a-year forecasts; shares should tumble back to the ground.
REIT sector (thematic)
REITs hedge inflation, but only short-lease high-margin sectors — residential, self-storage, warehouses — work; office and net lease are bond-like losers in a 6%+ CPI world.
Danimer Scientific DNMR
DNMR is a post-SPAC bioplastics story whose 'sold-out' demand, $200M take-or-pay contracts, and $1 trillion TAM are misrepresentations — actual utilization is ~28% and Novomer is a Hail Mary.
Box, Inc. BOX
Box has chronically lagged peers and entrenched itself via an unnecessary $500M KKR preferred financing; electing Starboard's minority slate restores stockholder accountability and unlocks long-term value.
Box, Inc. BOX
Box is a best-of-breed cloud content platform that has missed every revenue target since IPO; a reconstituted board can fix go-to-market execution and close a massive valuation gap to peers.
Acutus Medical Inc. AFIB
Solutions 30 S30
EY's refusal to sign Solutions 30's 2020 audit — after S30 blocked access to information on suspect transactions — confirms Muddy Waters' two-year-old fraud and money-laundering thesis.
Box, Inc. BOX
Box's board issued $500m of KKR preferred to lock up >10% of the vote and entrench itself ahead of Starboard's proxy contest — Starboard demands the books and four new directors.
Teck Resources TECK
Teck is the overlooked pick-axes play on the EV/green-electrification copper boom — QB2 doubles its copper mix and at forward-curve copper the stock is worth ~C$59, nearly double.
Box, Inc. BOX
Box has underperformed cloud peers for years despite engagement, and the Board just cut a dilutive financing to 'buy the vote' — Starboard nominates four directors to force real transformation.
Box, Inc. BOX
After a failed 2020 settlement, Starboard will nominate directors at Box's 2021 Annual Meeting, citing missed growth targets and a $500M convertible preferred it calls a 'buy the vote' scheme.
XL Fleet XL
XL Fleet's March 8 rebuttal fails to deny Muddy Waters' core claims — exaggerated pipeline, ~10% reorder rate, overstated fuel savings — confirming XL is SPAC trash.
XL Fleet Corp XL
XL Fleet is SPAC trash: salespeople were paid to fabricate pipeline, most touted customers are inactive, ROI is actually negative, and the stock is worth a fraction of its billion-dollar SPAC valuation.
Forward Air Corporation FWRD
Forward Air's acquisition-led growth strategy has decimated its core LTL margins; Ancora's nominees will restore operating discipline and unlock ~50% upside to $130-$135/share.
Corteva, Inc. CTVA
Corteva's spin-off potential is squandered by CEO Jim Collins and a complacent Board; Starboard nominates eight directors to force leadership change and unlock operating value.
Multiple REIT subsectors (urban office, retail, business hotels, movie theaters)
Post-vaccine pent-up demand will mask permanent secular damage in urban office, retail, business hotels, and movie theaters — investors should sell the mirage, not buy it.
D.R. Horton and Invitation Homes DHI/INVH
COVID-19 has supercharged the suburban single-family thesis; entry-level homebuilder D.R. Horton and single-family rental REIT Invitation Homes trade 20%+ below highs despite accelerating demand.
Alexion Pharmaceuticals, Inc. ALXN
Alexion's stand-alone strategy has failed — serial M&A missteps and a deep valuation discount mean the Board must pursue a sale now to unlock 40-50% upside for shareholders.
Cars.com Inc. CARS
Starboard, a ~10% holder, warns Cars.com's board that serial guide-downs must end with credible 2019-2021 targets, a third independent director, and — absent improvement — management change or a sale.
Deckers Outdoor Corporation DECK
Deckers' board missed every margin target and wasted $600m on retail bloat and Sanuk; replacing them enables UGG focus, non-core divestitures and a doubling to $135-158.
Bayer AG BAYN
Bayer at €88/11x trades in no-man's land between Monsanto deal-sceptics and deal-believers; whether the merger closes or breaks, Bayer shareholders get cake.
Buffalo Wild Wings BWLD
Buffalo Wild Wings should reverse course on low-return franchisee buy-ins, refranchise to 90% by 2020, recapitalize, and fix incentives — unlocking ~180% upside to ~$402.
Kao Corporation 4452.JP
Kao, a 'sleeping giant' of premium FMCG brands hamstrung by a management allergic to growth, should refocus globally and rebuild the board, unlocking 76-97% upside.
Fluor Corporation FLR
Fluor's $4bn NuScale stake masks a transformed EPCM core trading at just 2.8x EBITDA; separating NuScale unlocks a re-rating to peer 6-13x multiples.