Callouts & quotes from 26,677+ activist slides

"Comparing the occupancy performance of Simon & GGP to that of smaller mall REITs shows the benefit of scale in leasing negotiations"

"We note that in 2006, Goldman Sachs performed DCFs of Wailea and Haliimaile, valuing the projects at $144m and $186m, respectively."

"Alphabet should follow Apple's capital allocation strategy and become "cash neutral" over time through increased share repurchases."

"FNMA and FMCC share prices have increased 66% and 73%, respectively, from our average cost at announcement date to January 20, 2017"

"However, when the dust settled AGO was able to recover over 70% of its losses by suing the banks who sponsored the deals for fraud."

"Mainland Chinese home buyers are taking advantage of an undervalued HKD. 30% to 40% of luxury new home sales are to Mainland buyers"

"Housing is of course a social and an economic issue. However, if dealt with inappropriately, it will also become a political issue."

"While NVDA’s Jensen Huang, is a visionary, he is no short of hype: in its life span, NVDA has dropped 85% from its highs two times!"

"We estimate that the total value upside to shareholders could be as much as c.48.6% (Ltd shareholders) / c.51.0% (Plc shareholders)"

"The GSEs generated consistent profits and high ROEs at historical g-fee levels because of limited credit losses and limited capital"

"As part of the government rescue, Treasury required the GSEs to reduce their mortgage-related assets to a maximum of $500bn by 2018"

"The GSEs' FIA business should be wound down and the GSEs should be limited to a maximum of $100bn of mortgage loans for warehousing"

"As a young, first-time public company CEO, we would assume Dudum should focus his attention on HIMS, yet he remains a part-time VC."

"Our intense fundamental and forensic due diligence uncovered evidence of slowing U.S. growth, and margin pressure being covered-up."

"We Believe Saputo’s Aggressive Global Expansion Through M&A Is Failing, Transparency Is Declining, And Financial Stress Is Mounting"

"The inside joke at Muddy Waters when reviewing conference call transcripts was: The analysts treat every call like a job interview."

"If elected to the Board, Trian’s nominees will ensure that Disney articulates a DTC strategy that provides clarity on these topics:"

"Phillips 66 Midstream as a standalone entity would harmonize its capital structure with its asset base, enabling a cycle of growth."

"We are concerned that Mr. Ferrari’s various roles at Venator, Huntsman, and SK Capital result in significant conflicts of interest."

"Among global polyurethane manufacturers, Huntsman has the greatest exposure to differentiated and higher-margin downstream systems."

"In contrast, Long King and Fei Da generated 2008 and 2009 sales no more than 21x raw materials (versus RINO's 2009 figure of 760x)."

"The benefits from such alliances with AOL appear to have been minimal leaving Publishing in need of bolstering its online position."

"In order to maximize the long-term interests of the shareholders of TWX, the Company should immediately pursue the following steps:"

"Magnite has languished and created no shareholder value for legacy Telaria shareholders who received stock in the combined company."

"Although TASK's CFO didn't work directly at Satyam where the fraud occurred, he worked at a Satyam-controlled entity under its CFO."

"If one member equals one foot, then the bottom of the pyramid would equal the distance from New York City to Cleveland (~470 miles)"

"We will closely monitor PepsiCo’s performance and hold management publicly accountable for delivering top-tier shareholder returns."

"Phillips 66 Midstream as a standalone entity would harmonize its capital structure with its asset base, enabling a cycle of growth."

"We find that MTD's median employee salary is the lowest in its industry and nearly 50% below the average of its aspirational peers."

"Under CEO Filliol's tenure, Mettler has shown it is the most aggressive company in its industry when it comes to share repurchases."

"We find that shares held in the plan haven't changed in many years, which suggest that employees are not interested in owing stock."

"The GSEs generated consistent profits and high ROEs at historical g-fee levels because of limited credit losses and limited capital"

"Over ~25 years, Hill-Rom managed to destroy Germany's top two premier hospital bed brands, failing to learn from previous missteps."

"Industry-wide trends suggest that growth in Hill-Rom's hospital bed sales may not be attributable to demand for its high-tech beds."

"BILL's operating margins are well below that of peers, suggesting meaningful opportunity for improved efficiency and profitability."

"We believe Fluor operated in an overly competitive EPCM market where growth was often prioritized over discipline and profitability"

"We believe a key driver of Fluor’s share price reaction was investor disappointment with its proposed monetization plan for NuScale"

"If management can successfully execute on a margin improvement plan, we believe GoDaddy shareholders will be meaningfully rewarded."

"We believe the valuation discrepancy between News Corp and The New York Times Company represents a huge value creation opportunity."

"How can Forescout justify a 4.7x NTM EV / Sales multiple with projected sales contraction in Q1 FY20 and continued unprofitability?"

"While Mr. Labriola's performance is not unique in the recent history of TIM, his performance has been the worst of all last 5 CEOs."

"This is virtually unprecedented in the history of business and speaks to how poorly Mayer’s leadership must be perceived internally"

"Spruce Point will put CEO Lobo’s claims to the test that tuck-ins are easy and that its track record is good and it is disciplined."

"Does Dr Padmanabha’s track record of frauds, tax evasion and liquidations bode well for TFS’ reliance on his market demand studies?"

"Drop down Macy’s iconic stores and its mall store locations into two separate entities (estimated combined value of $16.5 billion)."

"The real estate JVs will start with best-in-class properties and have sufficient cash to fund growth and diversification over time."

"It is noteworthy that in HMA's Annual Letters to Shareholders and Partners it makes no mention of this all-important EBITDA metric."

"NZS has determined that a New Zealand based system involving predominantly grass feeding is not viable for a Uruguayan environment."

"And though a 74% decline in earnings over two years should have made analysts and investors reconsider the narrative, they haven’t."

"The Court can rule on whether a generating station exceeds the Statutory Capacity Threshold so that development consent was needed."

"Web traffic for 37 million unique users across five advertisers in Q1 2025 indicates that ~52% of e-commerce sales are retargeting."

"Because this process of collection and matching occur outside the usual suspect areas, to date, APP's scheme has avoided detection."

"JCP is not fundamentally broken. In fact, the company has many competitive advantages, but has suffered from years of mismanagement"

"This unexplained change in accounting policy raises significant questions about IQE's accounting practices, and historical margins."

"Outsourcing these capital requirements to TIP REIT would increase Target Corp’s cash flows and decrease its need for growth capital"

"With stagnant sales, MGPI’s inventory turnover has been falling for many quarters, and yet its gross margins are near record highs."

"Phillips 66's first-quarter earnings report on April 25 comes amid a long, frustrating period of underperformance versus its peers."

"FNMA and FMCC share prices increased 227% and 211%, respectively, in 2025 and have declined (23)% and (29)% year-to-date in 2026(1)"

"Eurofins' complexity and opaque accounting seems optimized for malfeasance in that the company seemingly chooses risk over clarity."

"A Failed One-Trick Pony At 15X Sales, Reeking of Study Fraud, Kickbacks, And A Covered-Up Explants Crisis That Merits An FDA Recall"