Callouts & quotes from 26,677+ activist slides

"The embedded midstream assets could be worth >$40bn TEV as a standalone midstream company"

"We Believe TRP Conglomerate Discount Will Only Be Eliminated With Energy Segment Spin-Off"

"This concerns us because Nova is now talking about pivoting towards construction in 2026."

"At a penny per share, we do not think the market is seeing this as a "near-term" producer"

"The medical air transport industry is high-risk and prone to billing fraud and kickbacks."

"Three planes charged to transplant center; multiple ways that TransMedics coerces centers"

"Putting “very poor quality” organs on the device, while admitting it doesn’t improve them"

"most TransMedics customers appear clueless and told us they just assume they’re licensed."

"Inc share repo program to $50m even though never bought any shares under prevoius program"

"If there are no pressures, than why would management have to engage in price concessions?"

"Lightspeed's risk factors do not discuss that First Data is actually a direct competitor."

"Lack of efficacy, drug-drug interactions, and side effects cause patients to discontinue."

"A 9.7x multiple post-synergies would generate ~$43bn of cash for Phillips 66 shareholders"

"TransMedics entire model, as a creature of this abusive regime, appears to be in jeopardy"

"After years of aversion to change, the Company's strategy and operations are now outdated"

"FNMA and FMCC share prices increased 138% (2.38x) and 131% (2.31x), respectively, in 2016"

"Every reporting segment has FAILED to grow volume in-line with the Company's expectations"

"Ceres is essentially asking partners to accept technical, commercial, and financial risk."

"We'd like take the Single Deluxe King Sea View to make the girls happy. Let's book those."

"HLF stock has increased 28% from our average cost* at announcement date to April 21, 2016"

"Lasertec is secretive and conceals product problems even from its engineers and employees"

"Spruce Point warns about DraftKings / Genius Sports And Expectations Being Too Aggressive"

"The Overlap Between the Board and Legal Counsel of DSP and CEVA Raises Material Questions"

"The management of Ströer SA have displayed multiple behaviors associated with deception."

"We Estimate Sunrun Overstates Its Income Approach FMV by 29% and Subscriber Value by 32%"

"我々は弊社の提案が実行された場合には当社の税前利益は現在の 45 億円から、2023 年度には 114 億円に増加し、株価については 100%近い上昇余地があると信じています。"

"VRX stock has decreased 83% from our average cost at announcement date to April 21, 2016"

"THE STATUS QUO CANNOT PERSIST IN THE BOARDROOM – SHAREHOLDER-DRIVEN CHANGE IS NEEDED NOW"

"Vets First Corp will have both a stronger topline and EBITDA growth story versus Elanco."

"The Company needs to achieve higher revenue growth based on its R&D and M&A investments."

"Campbell is an iconic asset that could command an attractive price from multiple parties"

"That said, we remain very committed to driving leverage below 4x as quickly as possible."

"Considered to be limited in scope, not transparent, and often inconsistent with actions."

"Buyer Beware: We believe the potential downside for both companies' shares is up to 90%."

"The bottleneck is in the collection stream. There's a lot more to it than meets the eye."

"No acquisition ever occurred, and XPO sold stock at a significant discount to the market"

"We suspect this material level of dilution is why it was omitted from the press release."

"1.10x Coverage scenario drives 43% upside to recent share price at a 4.0% dividend yield"

"That is why I am actually really shocked that we are being taken to count over it today."

"The community is so loyal that it has been often referred to as the "Church of Peloton.""

"Hilton is poised to deliver long-term earnings meaningfully greater than pre-2020 levels"

"The relentless focus leads directly to improved long-term performance and value creation"

"These improvements drove an AUV increase from approximately $2.5 million to $4.0 million"

"The Public REIT valuation yields a total real estate value of approximately $2.6 billion"

"Why would FMCN lie about the inputs to the numbers without also lying about the outputs?"

"We are troubled by the disappearance of IPX’s Chief Legal Officer (CLO) Jeanne McMullin."

"Investors have lost approximately 95% of their equity investment since the announcement."

"We note the sharp contrast between VW’s perspective versus what the CEO has represented."

"~60 – 80+% Increase in Marathon Stock Price Expected, $14 – 19 Billion of Value Unlocked"

"10 pts increase in terminals utilization would drive ~$15 – 25 MM in incremental margin."

"The above images, confirming no development, were taken by our investigators in Q3 2023."

"Post-transaction, HHH will become a modern-day Berkshire Hathaway led by Pershing Square"

"We are therefore short because this way of doing business just doesn’t seem sustainable."

"We believe the findings prove that Autodesk management intentionally misled shareholders"

"Despite making huge investments ahead of the bust, JOE has taken only modest write-downs"

"ACAS' recent historical median overhead is 56% higher than other Internally Managed BDCs"

"Ms. Schnabel has a track record of creating shareholder value in the chemicals industry."

"Management has historically referred to Celanese, Dow, and Eastman as its primary peers."

"You need to have your head in the cloud not to see the excitement around Edge Computing."

"The relentless focus leads directly to improved long-term performance and value creation"