Callouts & quotes from 37,061+ activist slides

"Kymera’s drug appears to be at least 100x as potent as PMV’s leading drug candidate."

"“SGH Consensus Overview” via Bloomberg LP, accessed September 23, 2019 — Footnote 14"

"“Plaintiffs are the “bangbros of stock pump”” — Anonymous defendant (quoted in text)"

"Shift to eCommerce lowering barriers to entry and driving influx of new competition"

"Mondelez can dramatically improve its profitability using the same tools used by 3G"

"WE BELIEVE BWLD'S STOCK PRICE COULD RISE BY MORE THAN 2-3x UNDER MARCATO'S PROPOSAL"

"Tafamidis was successful though Phase 3 readout had already occurred prior to 2019."

"Campbell has dramatically underperformed the S&P 500 and key US packaged food peers"

"Fannie Mae and Freddie Mac share prices declined 32% and 29%, respectively, in 2014"

"Southwest has underperformed peers on 17 of its last 20 significant earnings events"

"Box would have to have annual returns of ~35% for the KKR Financing to be accretive"

"Box's limited disclosure regarding executive compensation is out-of-line with peers"

"Starboard reconstituted the Board with directors who guided a successful turnaround"

"**We have assumed that inflation is contained and constant currency beyond Year 1**"

"This suggests that the compensation committee is not establishing challenging goals"

"Since emergence, we believe the company has been too slow to realize fair valuation"

"ADP’s total shareholder return is in-line with Paychex but trails Ultimate Software"

"On the other hand, SNAP is the ONLY social media stock WITHOUT data privacy issues."

"Pershing Square and SPARC Directors will not receive conventional sponsor incentive"

"QSR's share price increased 3% in 2021 and has decreased 7% year-to-date in 2022(1)"

"A majority of the growth over the past 7 quarters has come from higher risk lending"

"Allied’s Largest Investment, Business Loan Express, is Analagous to Enron’s Raptor."

"...so what value is there in putting a fixed-location veterinary clinic in Walmart?"

"Despite having ~4.5x the peer average revenue, Darden is among the least efficient."

"We believe Olive Garden's poor execution leaves customers consistently disappointed"

"International growth is a longer-term opportunity, but planning could begin quickly"

"We believe there is significant value in these assets within News Corp’s portfolio."

"Investors have lost close to 93% of their equity investment since the announcement."

"Fine print indicates C/3 charge rate – which in battery-speak means a 3 hour charge"

"Recent media reports indicate that Philidor may have engaged in fraudulent activity"

"It is beneficial for US investors to read Chinese media coverage of our NQ reports."

"We are short OSI Systems, Inc. (OSIS.US) because we think it is rotten to the core."

"Did John Hess vote against his board's recommendation and against declassification?"

"Since Hess has paid limited dividends, exclusion of dividends distorts peer returns"

"Hess is unmistakably materially undervalued, with oversight and discipline lacking."

"The effectiveness results of the study were far superior to the results of UNCOVER."

"At surface level, Fluor appears fairly valued compared to its primary peers, but..."

"We believe the market is not giving Fluor credit for its substantial transformation"

"Shareholders will not be duped by the Board’s “window dressing” governance changes."

"Starting from $21 per share, this recapitalization plan implies a 3-year IRR of 26%"

"Below are examples of invoices we obtained showing the spending on SchoolMessenger."

"The market is discounting Huntsman precisely because the Company lacks credibility!"

"Despite having ~4.5x the peer average revenue, Darden is among the least efficient."

"We believe Olive Garden’s poor execution leaves customers consistently disappointed"

"International growth is a longer-term opportunity, but planning could begin quickly"

"A decade ago, coal was used to generate roughly half of all electricity in the U.S."

"Southwest has underperformed peers on 17 of its last 20 significant earnings events"

"We object to oil fracking because the investment can contaminate portfolio returns."

"If you agree to the foregoing terms, please sign below to indicate your acceptance."

"Did John Hess vote against his board's recommendation and against declassification?"

"The $87 million difference is fabricated Gains on Sales of 8.3% of reported EBITDA."

"While Dr. Kleinfeld has touted Alcoa’s transformation, his actions belied his words"

"Illustrating the Value of Improving Utilization and Cost Cuts at GRP (2016 Revenue)"

"Elliott would be happy to compare its track record against any of the board members"

"The Shareholder Slate can be counted on to create future value for all shareholders"

"AMR would have you believe it's almost debt free but it ignores legacy liabilities."

"The U.S. Government is Pushing Wearables, Which Could Displace Asymptomatic Testing"

"Oddly, such near-total dominance of open-heart ablation has not led to any profits."

"We believe there is significant room for Oatly's multiple to compress below BYND's."

"We Believe Zebra’s Core Business Is Under Greater Pressure Than The Market Realizes"