Callouts & quotes from 26,677+ activist slides

"By making a quick calculation, we clearly see that the statements around this acquisition do not make sense."

"Fannie Mae was chartered to support liquidity, stability, and affordability in the secondary mortgage market"

"It is self-evident that the process would create tin splatter and clouds of debris inside the Lasertec tool."

"Lasertec’s recent growth driven by EUV transition for 5N and is now over; N3 purchase orders will be delayed"

"We note, however, that the chairman of Hadassah is on NNOX’s board and received options with a $2.21 strike."

"IF P&C, one of the best P&C assets in Europe, represents ~75% of Sampo’s value ex-Nordea, ex-PE investments"

"We therefore believe the IRS and the investing public should heavily discount and / or totally ignore them."

"With the right strategy and execution, AAP will be well positioned to capitalize on favorable market trends"

"Nuvei’s CEO And CFO’s Past Historical And Current Close Business Relationships Should Cause Serious Concern"

"Pfizer management committed to “constant flow” of innovation – as highlighted by 15 potential blockbusters."

"Pfizer management committed to “constant flow” of innovation – as highlighted by 15 potential blockbusters."

"Pfizer management committed to “constant flow” of innovation – as highlighted by 15 potential blockbusters."

"Share price stagnation reflects ongoing concerns about the impact of low oil prices on HHC’s Houston assets"

"The findings of the FTC substantially agree with our assertion that Herbalife operates as a pyramid scheme:"

"BRX’s range of quarterly SPNOI prior to being restated looks strikingly similar to HTA’s results since 2013"

"Since the spinoff from GGP in November 2010, The Howard Hughes Corporation’s share price has increased 219%"

"Dye & Durham's total shareholder returns have been disappointing over every relevant period, as seen below."

"As evidenced by the FOIA document below, there are no applications or permits submitted on ABML’s property."

"Three weeks later, on October 15, 2010, WCT Resources flipped certain of those specific leases to SandRidge"

"We would recommend reducing and leveraging Hunter/Farmer + Product / Solution + Industry / Vertical models."

"XPO makes aggressive use of off-balance sheet leases relative to its larger and better credit worthy peers."

"Many of these businesses are developing very, very well; however, others are not doing as well as expected."

"This allows us to conservatively estimate that organic headcount has been close to zero over the past year."

"The purpose of the spin was to further improve performance – not take a major and prolonged step backwards."

"Wall Street research estimates Ultimate’s structural margin potential to be 30% – 40% when it reaches scale"

"ADP’s underperformance in Employer Services is driven by numerous inefficiencies across ADP’s organization:"

"Vivendi is a sprawling media company which has systematically divested all but one of its telecom holdings."

"Since the beginning of 2021, we initiated four new investments and exited two highly successful investments"

"We remain disciplined in seeking a potential transaction for PSTH that meets our core investment principles"

"It does not seem that the sell-side considered the positive effect Helly Hansen had on retail gross margin."

"Remove a management team that has a proven track record of failing to bring cost-savings to the bottom line"

"The chain of events leading up to the recent news of the alleged Supermicro espionage is cause for concern."

"Greenlight has identified 35% of Allied's specialty finance portfolio that may be carried above fair value."

"We used empty legal entities as a kind of 'bad bank' for everything that couldn't be explained at the time."

"We didn't, we do not do factoring. We never did factoring. There's, uh—we don't see reasons for doing that."

"Contrary to TSE policies and all peers, Keisei refuses to base executive pay on Company performance metrics"

"The opportunity to increase alcohol sales could drive an estimated $56 million in annual EBITDA improvement"

"We believe a multi-step separation would maximize value while enhancing Darden's credit rating and dividend"

"Family Dollar has several initiatives in place to support management's 4-6% medium-term SSS growth guidance"

"Despite Years of Press Releases, Still Limited Committed Customers: Caught Between A Rock And A Hard Place?"

"We believed there was significant opportunity to improve these companies on a growth + profitability basis."

"Using market multiples for the rest of Phillips' assets implies its Refining system is valued at $1bn today"

"A number of solid-state battery experts have questioned whether Quantumscape’s battery is even solid-state."

"It just takes one dendrite to fail a cell. So, if you have more area, you have more probability of failure."

"7. Doomed by cost: the “magic material” that we believe QS is using is too expensive to ever replace Li-ion"

"Periodically scams like IonQ come along and claim to have one on the verge of solving the world’s problems."

"Given ex-employee color about the actual size of the “complete system,” we believe the slide is fraudulent."

"However, what the Libre lacks in technological advancement, it makes up for in ease of use and lower price."

"Why Is Hess Headquartered in Manhattan? Resulting in Top Leadership Being Out of Touch with Energy Industry"

"When Sumner Says he “Will Continue To Make All Such Decisions”, What Specific Decisions is he Referring to?"

"The Market Responded the Day of the News by Boosting Fox Shares 4.6% on a Day Where the S&P 500 Was up 2.3%"

"Elliott scenarios reduce total Capex from 7.6% (Company guidance) to 6.0% of revenues (in Elliott Mid-case)"

"CTR concluded that Fujian Min-shen-fa Express Passenger Transportation owned 50 buses with 104 LCD screens."

"The failure to have regard to this obviously material consideration vitiated the Planning Permission, which"

"Autodesk told shareholders one thing and did the opposite – this is not how public companies should operate"

"Over the next few years, we believe Autodesk can meaningfully shrink its share count and grow FCF per share"

"We believe Fluor is well-positioned, with far fewer competitors for full-service, integrated EPCM contracts"

"Unless SOFR hits ~3.5% in H2 2024 without the economy slowing, we think BXMT will be hammered by the macro."

"Match now trades at less than 8.5x 2024 free cash flow, a nearly 45% discount to the companies shown below."

"Elliott believes that ACAS could be worth in excess of $23/share, a 61% premium to its current market price"