Callouts & quotes from 26,677+ activist slides

"We believe there is a clear pattern of misreporting of acquisition revenue contribution by Generac between 2019 - 2021."

"Spruce Point warns that despite the CEO's bullish tone around Off Grid, we believe the deal has been a failure to date."

"There is a suspicious overlap of people between ABML and Comstock Mining (LODE), notably Scott Jolcover and Mark Vogel."

"Commvault is not executing against this paradigm and is delivering both exceedingly low margins and low revenue growth."

"Simply removing this voting obligation does not suddenly absolve the Board of its mistakes related to this transaction."

"As a first step, we believe there must be Board change at Box, including direct representation for common stockholders."

"Crown Castle is turning $1 of capex investment into 36¢ of market value. This is not a winning formula for shareholders"

"JANA Either Does Not Understand How to Value Assets in Our Sector or it is Intentionally Trying to Deceive Shareholders"

"JANA either does not understand how to value assets in our sector or it is intentionally trying to deceive shareholders"

"That is the automatic reaction of a CEO when an attack is launched and the share price goes down, that is quite normal."

"Mr. Müller: How much profit did Mr. Müller and Mr. Ströer make from the initial public offering? - Zero. Simple answer!"

"And while Mr. Big’s death was a big deal, Peloton was also left for dead post-pandemic as you saw from the stock price."

"Enhanced due diligence is necessary when a material part of a U.S. listed company's business is in China. Buyer beware."

"While ADP often cites its “service” as a key differentiator, most of this “service” is support for product deficiencies"

"ADP’s current structure is hurting ADP’s ability to execute in the marketplace while incentivizing sub-optimal outcomes"

"Canadian Tire must choose between increased financial exposure (more risk) or tarnishing the "Canadian Tire" reputation"

"Fuji will take control of Xerox and receive $120 million more in annual dividends from Xerox "without spending a penny""

"Redefining the Fuji Xerox relationship based on these realities will allow Xerox to potentially unlock tremendous value"

"Each of these multiples is still lower than the multiple of Xerox's industry leading peer HP Inc., which trades at 8.1x"

"Due to these and other reasons described herein, VOTE AGAINST Michael Dell and Silver Lake’s self-serving buyout offer."

"We do not believe these candidates are the most capable or experienced executives to lead Darden through its turnaround"

"We believe Darden can reduce food costs through simple operational controls that will also enhance the guest experience"

"A well-designed international franchising plan will prioritize strong partners, consistent operations, and local tastes"

"We really struggle to see which Director has the professional capability to oversee these complex investment decisions."

"The people who were working on this case have left that company, and I'll tell my colleagues and manager to keep quiet."

"Hua Tai has SAIC financials for 2014-2016, and appears to have been wholly incapable of guaranteeing a $2 million loan."

"Since Q4 2007, Target’s earnings per share growth has been significantly less than Wal-Mart’s earnings per share growth"

"Will represent a small percentage of fund capital in the aggregate and an appropriate "return on invested brain damage""

"Hess Claims Process to Update Directors Began Last August But Hess Pushed Out Sam Nunn Who Was Actually Added in August"

"He ran the sprockets off of established hits when he should have invested more to develop fresh content and franchises."

"Valeant's disciplined focus on lower-risk, higher-return R&D projects has led to an R&D ratio that is lower than peers'"

"Even under Engine's conservative scenario, Veritas can pay $25-$26 per share and still earn a 5-year IRR north of 17.5%"

"NO legacy directors were refreshed between 2018 - 2021; new directors were ALL added by expanding the size of the Board"

"AWS promotes Edgio's Involvement in streaming the Super Bowl and the size of the network capacity as #1 or #2 globally."

"We do not believe these candidates are the most capable or experienced executives to lead Darden through its turnaround"

"We believe Darden can reduce food costs through simple operational controls that will also enhance the guest experience"

"A well-designed international franchising plan will prioritize strong partners, consistent operations, and local tastes"

"But, the point I’m making is that our DCF-derived value isn’t too far from the current market values of the pure plays."

"Spruce Point believes Xylem's EPS guidance gives an incomplete picture of the true economics of the Evoqua acquisition."

"The Stronger Southwest plan ambitiously addresses the Company’s key issues and delivers a brighter future for Southwest"

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

"IPO/Sale of DCP Midstream yields $7/share, plus an additional $4/share from normalization of natural gas and NGL prices"

"While Bakken Competitors Are Focused on Maximizing Asset Potential, Hess Conglomerate is Burdened by Yesterday’s Issues"

"Out of everything that could be achieved, this is all that management and its hand-picked nominees are willing to do..."

"Management has not articulated a coherent strategy as to how Arconic’s operating activities further the Company’s goals"

"In Arconic's 2017 proxy statement, the Company disclosed that they had traded away company assets in exchange for votes"

"Benefits of greater shareholder involvement are already clear, but without continued collaboration, progress will stall"

"These connections between performers and PUs further support our estimated that YY has fabricated ~90% of gift revenue."

"Will represent a small percentage of fund capital in the aggregate and an appropriate “return on invested brain damage”"

"MDLZ’s share price including dividends has increased 17% from our average cost at announcement date to January 19, 2018"

"The issues cited represent serious and harmful corporate practices in service of continuing to sell a troubled product."

"These services on the “Unity® Global Platform” are different services and technologies than what is deployed in Canada."

"In the past two years, we estimate insiders have monetized £1 billion, net, via selling, collaring, and pledging stock."

"In an interview with a former Anta senior manager, (Mr. B.) we confirmed Kunming Anzhi is also considered a subsidiary."

"Peng Qingyun and Peng Qingqi are two brothers with a very complicated professional and business relationship with ANTA."

"Therefore, we estimate a low, middle and high range for new capacity that implies an 11% - 48% increase in capex costs."

"The provision was revised to a high of C$246.9 million, amounting to ~15% and ~23% of Wood E&I's gross and net revenue."

"Zebra's Levered Acquisitions And Expensive Bets In Robotics, Machine Vision And AI Look Troubled And Are Likely To Fail"

"Curiously, ever since the inventory charges stopped, EVM's segment's gross margins have expanded by 540bps in YTD 2024."

"Since joining the board in December 2015, Telecom Italia has dramatically underperformed its peers and broader indices."