Callouts & quotes from 26,677+ activist slides

"The purpose behind attacking behavior is to impeach the credibility of the accuser in the eyes of the public."

"Highest-volume TransMedics users have allegedly ramped their transplant programs by using questionable organs"

"TransMedics will look you in the eye and say, we’re going to leave them in the body unless you pay us $3,000."

"If elected, our slate will engage actively and cross-functionally to improve relations with key stakeholders:"

"In 2020, PSH returned $367 million of capital through its quarterly dividend and opportunistic share buybacks"

"Patch clearly does not drive search traffic and needs to be viewed independently from AOL's other businesses."

"Soleno's framing of this risk as “manageable” is clinically irresponsible and unsupported by robust evidence."

"Tax-free IPO and spin of Target Inflation Protected REIT (or “TIP REIT”) as Groundlessor and Facility Manager"

"The CHMP identified several shortcomings in the documentation provided on the pharmacokinetics of pitolisant."

"The report suggests a potential attempt by the physician and/or company representative to cover up the event."

"In 2017, Pershing Square established multiple investment positions that reflect our core investing principles"

"A 2020 profile of the IonQ co-founder on a Duke website shows that the size of the device remains ridiculous."

"The RCA deal was not the best or easiest transition. It was pretty disorganized. It was like a dumpster fire."

"Once again, these acquisitions in July 2018 and December 2019 appear to be in open violation of Bolivian law."

"In 2017, Pershing Square established multiple investment positions that reflect our core investing principles"

"The YOY growth rate is decelerating quickly and could possibly reach negative territory in the coming future."

"Since the IPO on the London Stock Exchange in May 2013 to April 18, 2017, PAH’s share price has increased 29%"

"We believe UFPT's largest customer, ISRG, will materially reduce their spending with ISRG over the next year."

"Giving GreenPower the valuation of annual sales plus net cash only gives it a value of about $1.50 per share."

"A handful of top distributors take nearly all of the cash flow; almost no one joining today can reach the top"

"Management continued to repeat these claims on the next two earnings calls on Oct 31, 2023, and Jan 31, 2024."

"2026E revenue estimates have only modestly declined, with significant room for contraction and disappointment"

"This seemingly violates U.S. OFAC sanctions for which we understand the U.S. seller would be strictly liable."

"Resolving TeliaSonera’s legal issues with governments could cost it in the tens of billions of Swedish Krona."

"We are confident than ONP is a fraud. Its purpose is to raise and misappropriate tens of millions of dollars."

"We are confident that ONP is a fraud. Its purpose is to raise and misappropriate tens of millions of dollars."

"As Nordea (and other Nordic Banks) have fallen out of favour, Sampo’s share price has been collateral damage"

"GoDaddy's margins are significantly below its peer group, despite having a similar business model and scale."

"We are excited to own the business at current valuation multiples as we believe there is substantial upside."

"As of January 20, 2017, HHC’s share price increased 190% (2.90x) since the spinoff from GGP in November 2010"

"We believe these connections best position Sportradar to maintain its dominant position in the United States"

"What does chairman Michael Yu have in common with Mannie Fresh? They both got everything in they momma name."

"There is an argument that companies in China are un-auditable because it is so easy to defraud the auditors."

"Elliott intends to pursue all available pathways to deliver the leadership changes that the Company requires"

"We believe the lower barrier to entry is reflective of the low value proposition of partnering with Generac."

"In October 2017 Box accelerated its timeline to $1Bn of revenue, while claiming industry-best predictability"

"On what grounds are we to believe that loans originated by Carvana perform better than all other auto loans?"

"Spruce Point Is Not Aware of Why Any Healthy and “Successful” Company Needs To Regularly Tap Bank Overdrafts"

"The regulator also cited Dycom's subsidiary as the contractor working with Frontier to conduct illegal work."

"The whole different culture, I think that's the biggest thing that keeps anybody from even trying to buy it."

"We believe fixing ADP’s competitive position will increase ES’s potential revenue growth from ~4% to 7% – 8%"

"Note change in language, removal of discussion of veterinarians (though we know this continued through FY17)"

"Darden has a great collection of brands and assets that, if managed correctly, would drive significant value"

"Olive Garden does a poor job of converting searches into visits, and converting visits into repeat customers"

"With the right leaders in place and with a culture of innovation, we believe Olive Garden will be successful"

"Refranchising can generate capital and improve the quality of earnings with a limited reduction in cash flow"

"Family Dollar’s lower profitability is a result of both lower sales per square foot growth and lower margins"

"The creation – not just the identification – of value; we believe Elliott's strength is in catalyzing change"

"Peers have been able to reduce advertising costs per tire, while Goodyear's advertising costs have increased"

"The problem is that 30,542 of these LCD displays aren't LCDs at all – they're just simple cardboard posters."

"But I'm home now. There shouldn't be anything on QQ because our hard drives have been replaced at that time."

"Clear losers will likely see a "Vaccine Mirage" from pent-up demand before fundamentals and shares roll over"

"We note proclamations going back 30 years that quantum computers are on the verge of transforming the world."

"Monroe is basically missing in action and Kim allegedly disappears for weeks at a time because he’s at Duke."

"As an analogy, imagine if AMD claimed to have the world’s best CPU, while actually purchasing it from Intel."

"Just one to three years' worth of U.S. patient growth remaining given the recent rate of U.S. patient growth"

"The Potential Rerating for “Good” Viacom Management Could be $13.2B in Market Cap or Approximately $38/Share"

"After raising its original 55-65% target to 64-68% - but achieving 55% - Autodesk set its new target of 45%+"

"Autodesk began transitioning large enterprise customers from multi-year, upfront billings to annual billings"

"We believe this strategy resulted in a significant shift in business mix that ultimately proved unsuccessful"