Callouts & quotes from 37,061+ activist slides

"WHERE THERE IS NO ALTERNATIVE THERE IS NO PROBLEM. — James Burnham"

"“as if I am being branded” “at least 2-3 times per week” — Patient"

"The oral absorption of WAKIX is around 90%. — Wakix package insert"

"“Coal to Cars” and a Few Other Things — Ramaco Carbon Presentation"

"Objet: Re: Stay for young beautiful girls — User email to Sofitel."

"RE: Stay for young beautiful girls — Subject Line of email thread."

"Greetings from Novotel Ibis Balikpapan ! — Novotel Ibis Balikpapan"

"Result: Placed Approximately 142 Corporate Directors on 45 Boards"

"We also see a substantial opportunity to reduce capital intensity"

"Starboard believes AAP could be worth in excess of $350 per share"

"Franchised business model is a capital-light, high-growth annuity"

"The Company invested nearly $70 Billion in M&A since the pandemic"

"Franchised business model is a capital-light, high-growth annuity"

"No matter how many branches you open, it's charged as one school."

"In total we believe GFL's enterprise value is off by $1.2 billion"

"We find many indicators that WTRG's cash flow is being pressured."

"Operating cash flow is peaking as the slope of the curve flattens"

"Box's annual incentive plan is paid in equity and not self-funded"

"We believe Box can significantly improve sales force productivity"

"Wi-Fi represents the single biggest threat to the tower industry."

"We look forward to engaging management in a constructive dialogue"

"Very simply put: Peloton needs to spend more time on the Peloton!"

"TIM lost more than 50% of its value under Vivendi's Board and CEO"

"We view the reduction in REIT ownership as a highly negative sign"

"It concludes for HAMR that "the process is not energy-efficient"."

"Fortrea’s adjusted EBITDA margins are well below the peer median."

"Target falls short vs. refining peers that are offering ~100% FCF"

"Sintering is “biggest reason” why it’s hard to increase cell size"

"Substantial Share Price Appreciation at a Wide Range of Multiples"

"And A Substantial Part of Dauman’s Compensation is Cash Not Stock"

"WaterColor is not impactful to the valuation or P&L going forward"

"Bottom line: Mr. Shaw and his strategy are only on track to fail."

"Digital transformation should lead to a higher multiple over time"

"Notice only a handful of PWSC's ~20 products are driving revenue."

"Is “Advanced Awareness” and matching really targeted advertising?"

"A business that burns cash and doesn't grow isn't worth anything."

"Target falls short vs. refining peers that are offering ~100% FCF"

"PHILLIPS FALLS SHORT OF BEST PRACTICES IN ATTEMPTING A TURNAROUND"

"The investment team is the right size and remains fully committed"

"Fortrea’s adjusted EBITDA margins are well below the peer median."

"Twist samples lacked the necessary uniformity and quality control"

"~$11 per share of value degradation...~45% of today's share price"

"Franchised business model is a capital-light, high-growth annuity"

"豊田自動織機の2026年3月期の営業利益ガイダンスは、為替の誤りおよび過度な保守性により、大幅かつ繰り返し過小に見積もられてきた。"

">35% Difference may point to further multiple compression to come"

"We are unclear why Celgene management is so bullish on fedratinib"

"1967 14% Sterling devaluation – Countered by +10% HKD revaluation"

"CP's pricing deficit vs. CN has persisted and remains substantial"

"Total return to shareholders including dividends: negative 18%(1)"

"We find that four of Tasmanian's products have been discontinued."

"We have a plan for creating significant shareholder value at GCP."

"GGP equity offers an enormous potential reward for the risk taken"

"Marathon management has failed to prove the case for integration."

"All of a sudden, one thread unravels this whole web of deception."

"We see enormous trapped value at Phillips 66. The Board does not."

"2020 compensation Adj. EBITDA target 29% BELOW Investor Day goal!"

"To the extent RINO has a reputation among steel mills, it is poor"

"Undervaluation gets reinforced and overvaluation gets reinforced."

"We Believe GFI Poses A Material Threat To WFG's Recruitment Goals"

"We see enormous trapped value at Phillips 66. The Board does not."