Callouts & quotes from 26,677+ activist slides

"SCT’s 63% discount to NAV is extreme, but is highly resolvable with the potential to unlock up to $25bn of latent value."

"Lack of action to address the SCT Value Gap indicative of insufficient alignment of management and shareholder interests"

"Chinook's other trial, the ALIGN trial, includes a placebo—perhaps this is why we Chinook has presented no data from it."

"~80% of Penney’s on-mall stores are in shopping centers with sales >$300 per sf. For Macy’s, this figure is roughly ~75%"

"With 1 net store closing in 2018 and continued underlying business pressures, we expect 2018 performance to deteriorate."

"HUNTSMAN NEEDS STRONG INDEPENDENT BOARD MEMBERS WHO WILL DEMAND IMPROVED PERFORMANCE AND HELP MAXIMIZE STOCKHOLDER VALUE"

"REZI appears to be retroactively moving restructuring charges to suit their purpose or making careless reporting errors."

"The next phase of the market will see increasing numbers of exits, even as the number of new entrants continues to grow."

"Why has Verint become less transparent into its M&A activity just as it ramps up its spending on "tuck-in acquisitions"?"

"One area that has certainly struggled is Latin America, falling below expectations dating back to pre-acquisition Bemis."

"Excluding AFAM locations allows management to report high single-digit organic growth, which would otherwise be below 2%"

"Since inception of the position, UBER's share price increased 23% in 2025 and has declined (10)% year-to-date in 2026(1)"

"Since inception of the position, AMZN’s share price increased 34% in 2025 and has declined (10)% year-to-date in 2026(1)"

"He stated that Nevro’s product was designed for “lazy” or “greaseball” implanters who don’t care about patient outcomes."

"A simple literature search shows why KOL’s broadly ridicule Nevro’s PDN hype as stock promotion and Wall Street naivete."

"I know for a fact, on the inside, Grossman has said he's scratching his head over why the stock has done what it's done."

"花王のブランドはブログ・ポッドキャスト・ロコミ・YouTubeにおける広告（インフォマーシャル）などが全般的に不足している結果、特に認知度の低い海外において、同社ブランドに対する消費者の関心を掻き立てる施策が不十分だと、オアシスは考えます。"

"Remember that the issuance of the iPrefs doesn't require Apple to actually use any of its existing $137 billion of cash."

"As we discuss in this report, we believe that fewer than half of the buses in CCME's network actually show CCME content."

"Each of the companies is expected to see improvement in growth + profitability in 2023, largely due to margin expansion."

"GoDaddy is a high-quality, infrastructure-like business that should be able to generate best-in-class financial results."

"If the mortgage defaults, home prices would need to decline by more than 20% for the mortgage guarantor to suffer a loss"

"The GSEs' guarantee business should have a lower capital ratio than banks and PMIs to reflect the lower risks they incur"

"The GSE restructuring plan enables Fannie to achieve the capital level required to exit conservatorship by year-end 2026"

"Like a magic trick, while everyone is focused on Elon smoking weed, he is quietly smoking the whole automotive industry."

"マーベル・テクノロジーの上席従業員の話によると、レーザーテックの棚卸資産にはほぼ価値がないだろうと思わせる。レーザーテックは、当社がA300を購入する場合、私たちが持っているA150と交換する形でA300を割引価格で売却すると申し出ました。"

"It is, no question, overpriced...there’s lots of precedence for this sort of stuff happening in the healthcare industry."

"Unaffected Stock Price(4) Has Declined -11% Since the Separation of Conoco (16+ years) And Down -20% From Peak (5/20/98)"

"Unaffected Stock Price(4) Has Declined -11% Since the Separation of Conoco (16+ years) And Down -20% From Peak (5/20/98)"

"DuPont's organic revenue growth has trailed peers in 5 of 7 segments (~71% of revenues) and has rarely met its own goals"

"Mr. Lamphere's guiding principle for management on the subject of safety is as follows: Ignore safety and you are fired."

"Retaining assets in case they will be needed creates congestion, out-of-route miles and inefficient workforce deployment"

"As the #1 company in the space and with >2x share of the industry's #2 player, Sony Semiconductors fits this description"

"Leidos revenues have increased ($11+$7+$11) = $29m from the IMX acquisition in 2020 not by $23m as described in the 10-Q"

"The lower figure in the peer-reviewed manuscript is more favorable to Soleno, suggesting that they manipulated the data."

"The two data HbA1c data points - highlighted again in red/yellow – are above all of the points in their own time series."

"Muted. I’ve not had anyone call up at all. There’s been no push to do this drug. I have not had families call up at all."

"By definition, many of these patients are going to be susceptible to full-blown diabetes and impaired glucose tolerance."

"Proceeds from the IPO and the sale of the remaining interest in the credit card receivables can be used to pay down debt"

"The report noted that "with a positive dechallenge, a causal association with WAKIX for the events cannot be ruled out.""

"But we are overall concerned that audit fees are not growing in line with revenues, and are in fact in a downward trend."

"MDLZ’s share price including dividends has increased 18% from our average cost at announcement date to January 20, 2017*"

"We simply do not see how IIPR buying warehouses and empty land for outrageous mark-ups creates low risk yields over 14%."

"It is found that this address was actually occupied by a biotech company called Fuent Biotechnology (Shanghai) Co., Ltd."

"It is found that this address was actually occupied by a biotech company called Fuent Biotechnology (Shanghai) Co., Ltd."

"Di Ricco apparently had not been deterred by the criminal justice system. We find him right back in action with ADOMANI."

"At the Q2 2019 call, a sell-side analyst also noticed the lower than projected reagent revenue per system (utilization)."

"As shown above, none of these awards seem to pertain to anything related to DVLT’s AI, its Valor tokens, or its patents."

"In one major corporate fraud after another, we see the CEO and/or CFO depart when the scheme becomes too big to sustain."

"A Citigroup report published 3 weeks before this one, however, pegged EUV at 80% of sales by 2022 – 4X the UBS estimate."

"Lasertec could easily have licensed the Isteq technology prior to the ACTIS A150 launch in 2019 but chose Ushio instead."

"What is most important is the delivered cost of soda ash to end customers, which includes production and transportation."

"Improve GoDaddy's combination of growth and margins + Improve GoDaddy's capital allocation = Significant Value Creation"

"We estimate that Smart2Pay's net profit margins ballooned from 28.5% (pre-acquisition 2019) to 49.2% (post close 2020)."

"We believe the true "cash-on-cash" returns to equity holders on new stores fail to clear management's 20% return hurdle"

"Wall Street research analysts expect Pfizer's revenue to decline by 3% (9% increase excluding COVID) from 2023 to 2030."

"we view it as wholly unlikely that mass market education companies are able to generate gross margins in excess of 50%."

"New leadership to be laser-focused on executing against plan targets, with a refreshed Board providing strong oversight"

"Voluntary attrition has more than doubled since 2020 from 4% to 9% and increased at all levels across the organization."

"We believe Generac’s peers are claiming more eyeballs and likes on social media based on followers and ad interactions."