Callouts & quotes from 37,061+ activist slides

"Ströer SE & Co. KGaA (“Ströer”) is not the company the market seems to think it is."

"When a store adds a website, it does not magically become a "cloud-based retailer"."

"Another anti-trust concern is that there are a lot of agricultural deals right now:"

"Disney’s Plan for Value Creation Appears to Lack Commitments, Guidance, and Clarity"

"Red Cat Teal’s SRR contract will be shorter and less exclusive than they’ve implied"

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

"However, the Viteks appear to have set an artificially high price (see next slide)."

"Four-year runway with a pro-business administration led by the consummate dealmaker"

"HHH's share price decreased 6% in 2024 and has decreased 2% year-to-date in 2025(1)"

"'New' TransCanada: Three Entities Well Positioned To Dominate Respective Industries"

"CEO/COO "play hardball" and alienated surgeons who now use other perfusion machines"

"The upcoming UK rail franchise tenders are a significant opportunity for FirstGroup"

"He’s not putting his money where his mouth is – he’s just putting it in his pocket."

"Is this a sustainable practice as value-oriented customers lose faith in Dollarama?"

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

"Avago highlights operational benefit of Sony Semis operating as a standalone entity"

"We interviewed 9 clinicians listed in the papers – most are the same across the two"

"At baseline, 60% of study participants were identified as having evidence of PD/DM."

"We believe PepsiCo Beverages has many similar traits and can be modeled after Kraft"

">Pitolisant’s origin: an old, failed compound no reputable drug company would touch"

"There's just not a lot of open running room for Wakix in the setting of narcolepsy."

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

"We suspect something has gone wrong here and METC is kicking the can down the road."

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

"Security guard: the hardest working EH employee we saw in during our investigation."

"Each dollar of revenue at Lasertec similarly produces far less cash than its peers."

"Slides show exactly the same conceptual diagram for A150 and A300 projection optics"

"But everything could turn around in a second if KLA comes out with a superior tool."

"The radiologists with whom we spoke uniformly viewed these assertions as laughable."

"“he did not control the Sambara Trust (Sambara Stiftung) at any time” — Dirk Ströer"

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

"the process is not energy-efficient — Journal of The Electrochemical Society (2021)"

"McDonald's Targeted in Humane Society Complaint to SEC Over Pig Crating — Bloomberg"

"“Overall Web Security Solution of the Year” — 7th Annual CyberSecurity Breakthrough"

"Again, we timed it poorly, initially buying in the 30s and adding all the way down."

""will dispose of the unwanted product at low prices." — Distributor With Own Stores"

"Twist’s website admits it uses standard phosphoramidite chemistry for DNA synthesis"

"Please also file the side letter as an exhibit. — SEC letter to Twist, Sep 20, 2018"

"“look[ing] forward to supporting the Company’s strategic direction.” — New Director"

"Yes, and the total locations including A1 and A2 are 93,000 locations. — FMCN Sales"

"I’d love to, Barbara, but I’ll have to check with the Bundesbank. — Cartoon caption"

"“You’re saying that because of the merger I have to admit both of you?” — Handelman"

"it is possible that an impairment or write-down will be recognized in Q3'18 — Maxar"

"A spokesman for BOL described VK as one of Mr. Bolloré most successful investments."

"“This was not associated with any specific adverse events.” — EMA assessment report"

"“cardiac involvement can cause significant morbidity and mortality.” — Merck Manual"

"Case settled with admission of guilt by Rota Fortunae in June 2021 — Rota Fortunae."

"“look[ing] forward to supporting the Company’s strategic direction.” — New Director"

"many of Mr. Jin’s assets are not located in the United States. — FFAI's disclosures"

"“We are looking forward to welcoming the girls” — Sebla Soydan (Rixos Hotels - CHQ)"

"ELEVATED MULTIPLES AND STRONG STRATEGIC DEMAND MAKE NOW A GOOD TIME TO SELL ASSETS"

"We Believe Remitly Is A Troubled And Opaque Business Experiencing Growth Pressures"

"In summary, current management had ten opportunities to deliver blockbuster drugs."

"Wall Street research analysts risk-adjusted management’s $10 billion sales target."

"The massive earnings guidance miss significantly damaged management's credibility."

"The fact that the franchisees have to provide the financials at all is suspicious."

"Scott Peters at the helm has lead to significant destruction of shareholder value."

"Incumbent Board, in their own words, has consistently failed Campbell shareholders"

"Warning: Goldman Sachs, the lead left underwriter is the biggest bear on the stock"

"As of June 30, 2023, Sunrun purportedly had 724,784 Subscribers (PPAs and Lessees)"