Callouts & quotes from 26,677+ activist slides

"Despite high AUVs and industry leading revenue, Darden’s operating performance is significantly worse than peers"

"Since the acquisition, Sole’s net revenue has declined 12.9%, and it only recently generated positive OP margin."

"At 1.5 meals a day per employee, Mayer's perk has cost $450M over 4 years. That's half an Instagram right there."

"Neither Mayer nor De Castro has ever dug into his/her own pockets to purchase any Yahoo stock on the open market"

"The bottom line coming from them is that it's not worth the investment, according to what they have seen so far."

"Stryker modified its valuation of the inventory 5 times, from nearly a 100% increase to a final increase of 82%."

"Specifically, monthly visits are almost 20% more, and duration of time spent on Terminix’s website is 2x longer."

"This has the consequence of inflating FTAI’s EBITDA margins, which are ~ten percentage points higher than peers."

"We also identified two active violations associated with ACE Aggregates, LLC and its portable crushing facility."

"It might surprise Core to learn that when you start at $79 and finish at $55 you are lower than where you began."

"The IPO and secondary were intended to enrich insiders, rather than to raise significant capital for investment."

"AC installed export capacity should not be seen as an appropriate tool to constrain the impacts of a solar farm."

"Vertiv was trading in the high ~$20s before Q4 2021 results, which cut the Company’s share price nearly in HALF."

"Many leading technology companies now embrace dividends to instill managerial discipline and reward stockholders"

"BMC's issue is its operational execution and not the quality and value proposition of its products and solutions"

"Simultaneous deconsolidation (split) of SEC and SDI on the same basis, each into their respective OpCo and InvCo"

"While the company has made steady progress in boosting margins, we believe that optimized margins are far higher"

"We assume $175 per metric tonne of met coal for 2022 and 2023, while many analysts assume $150 per metric tonne."

"We estimate that Target's ground lease credit risk should be materially lower than Target's unsecured CDS spread"

"AlphaSense interviewed a former SVP of Marketing at SnapAV who worked there through the acquisition of Control4."

"Programs drive both predictable near-term revenues and long-term value creation with asymmetric upside potential"

"7. The related party “customers” are mostly fronts for Ginkgo and its revenue is therefore an elaborate fiction."

"Based on a fair value reduction of 38% (Table 4), we calculate the fair value loss is RMB 1.5 billion (Table 5)."

"Spruce Point believes the stock-for-stock merger of Amcor + Bemis was a deal done out of necessity for survival."

"Amcor bulls see 19%, but most have failed to conduct a forensic analysis of management’s statements vs. reality."

"We anticipate margin uplift by 27% on a pro forma forward basis, resulting in estimated operating margin of 6.7%"

"PSH's ability to access low-cost, investment-grade, long-term debt is an important competitive advantage for PSH"

"Unknown to most investors, Nevro faces an impending, disruptive competitive threat within 6 to 12 months: Saluda"

"The executive turnover at CLEAR is very alarming with no prompt 8-K filed for Richard Patterson and Jon Feldman."

"Palliser firmly believes that the terms of the NewMed transaction fall well short of Capricorn’s intrinsic value"

"We are concerned that the Company has been caught flat-footed during a period of seismic change in the industry."

"Disney's studio business, which historically had the best margins in the industry, has turned into a "black box""

"After the initial buzz surrounding the much-anticipated launch in mid-February, download activity has plummeted."

"We believe Fannie and Freddie should be valued somewhere between P&C insurance companies and regulated utilities"

"It's very difficult to recruit, retain, and motivate people at companies that size and scale, especially remote."

"PSH's ability to access low-cost, investment grade, long-term debt is an important competitive advantage for PSH"

"The 10 largest companies in the S&P 500 index trade at 27x earnings, compared to 20x for the other 490 companies"

"CPKC’s share price including dividend reinvestment was flat in 2024 and has increased 7% year-to-date in 2025(1)"

"Of all the strategic missteps, perhaps most concerning is the Company’s decision to acquire Olapic in July 2016."

"Total potential dilutive shares, all of which are in-the-money, stand to increase the current share count by 80%"

"Norfolk Southern vs. CSX (same geographic footprint, track miles and freight mix): 800 bps worse operating ratio"

"AOL shareholders need a Board that will exercise stringent financial discipline to address these massive losses."

"Someone is lying, and we already have precedent examples of the CEO exaggerating the state of the SD&A business."

"The oral suspension curve is oddly pointy and the DCCR curve is flat with identical concentrations over 12 hours"

">CYP2D6 liability and drug-drug interactions amplify toxicity; the FDA's assessment was based on misleading data"

">Mechanism of action – “increases histamine levels in the human brain” – is unproven and hence false advertising"

"Our interpretation is that Neurio was a problematic acquisition requiring a reversal of payment back to Generac."

"Apple clearly states that fingerprinting without consent violates its Apple Developer Program License Agreement."

"The LBO model will usually give the lowest valuation. We usually use LBO model to establish a 'floor valuation.'"

"It’s ironic that AUID is supposed to guard against fake logins, yet it provides fake revenue numbers in its PRs."

"While the company has made steady progress in boosting margins, we believe that optimized margins are far higher"

"IIPR signed its only sale-leaseback with DYME at the end of July 2019, mere weeks before DYME went into default."

"While the company has made steady progress in boosting margins, we believe that optimized margins are far higher"

"It feels like you are focussing more on ripping people off than giving them a great product and value for money."

"Our Research Shows That GreenPower Motors Isn't Really An Electric Bus Manufacturer, But Is An Importer/Reseller"

"SGH's shift away from Brazil and into the Specialty Computing business has turned SG&A and R&D into fixed costs."

"Despite weak operating performance, robust multiple expansion drove significant share price appreciation in 2015"

"HelloFresh wendet verschiedene Strategien an, um zu verhindern, dass Kunden ihr Abonnement erfolgreich kündigen."

"Liang noticed that the people in the WeChat Groups were giving out multiple great identical reviews to teachers."

"KLA may have an interesting strategy...they will be ahead of Lasertec because they already have a better source."