Callouts & quotes from 26,677+ activist slides

"Importantly, from a customer check-out perspective, the $1.00 price point is a fallacy."

"Warning: The core of XPO formed around tiny acquisitions it paid virtually nothing for."

"In the 21st century high-touch “service” does not compensate for technological weakness"

"We believe Darden’s proposed Board is at best suboptimal and potentially dysfunctional."

"From 2007 to 2012, Darden’s stock price underperformed its Proxy Peer Group by over 40%"

"We believe Darden spends too much money, in the wrong areas, and with the wrong message"

"Despite the $4.2 billion increase in invested capital, Goodyear's NOPAT declined by 42%"

"We believe Dow Jones is meaningfully undervalued inside of News Corp’s portfolio today."

"Chart suggests QS cell performs far better at low temperatures than conventional Li-ion"

"The former employee flatly rejected the company's claim of low temperature performance."

"Red flags around scaling and manufacturability render Quantumscape’s cells a pipe dream"

"Wholesale supply of gasoline and other fuels clearly constitutes MLP-qualifying income."

"Claim that VRX “stuffed the channel” and falsely recognized revenue is verifiably false"

"We contacted Philidor and asked if the company was owned by Valeant; we were told “No.”"

"CTR warranted that its research on CCME’s bus-based LCD network was “actual, reliable”:"

"Why did the Board accept growth + profit – the “hallmark” of value – declining so much?"

"Shareholders deserve answers and a Board that will protect their interests at all times"

"We believe Fluor should be able to grow EBITDA following the reset in the base business"

"At current SOFR, we envisage scenarios in which BXMT's dividend is cut by ~55% to ~85%."

"We believe Darden’s proposed Board is at best suboptimal and potentially dysfunctional."

"From 2007 to 2012, Darden’s stock price underperformed its Proxy Peer Group by over 40%"

"We believe Darden spends too much money, in the wrong areas, and with the wrong message"

"Any aspect of the K-cup that was revealed in either patent falls into the public domain"

"The very high allocations to Goodwill raise suspicion about subsequent earnings quality"

"GMCR has not had much free cash flow and says it won’t have much for the next few years"

"Viator is a highly strategic asset and is the leader in the online experiences category"

"What is an infinite supply of negative return investment opportunities worth? Not much."

"A ‘proved reserve’ is an SEC term which is, in essence, a promise of future oil or gas."

"Share price underperformance is the ultimate proof that shareholders have been let down"

"In 2008, investors could have purchased Valeant's shares at ~0.3x 2016 Consensus EPS(1)"

"Valeant’s durable business has few peers among publicly traded pharmaceutical companies"

"We are short JOYY Inc. (YY) because we conclude that YY is a multibillion-dollar fraud."

"The Hello App Appears Derelict, With Longstanding YY Links Despite Supposed Bigo Origin"

"Warning: Employee counts also differ widely depending on what documents are referenced."

"The conversion ratio has remained stagnant in the 2.2% - 2.3% range for almost 4 years!"

"We have nominated eight independent, highly qualified candidates for Southwest's Board."

"Patent growth is rapidly decelerating while registered trademarks are in sharp decline."

"Zebra last claimed mid-teens growth which appears to be below the industry growth rate."

"The latest array has 8x the oligo throughput that Twist claims for its own contraption."

"The expert implied that the chip’s fatal flaw means “you’re definitely going bankrupt.”"

"GOING FORWARD, BNY MUST DEVELOP AN INTEGRATED MARKETING PLAN BASED ON THREE OBJECTIVES:"

"actions like these, communicated to the public, will cause a reappraisal of BNY Mellon."

"Historically, we believe that P&G’s culture and structure have inhibited successful M&A"

"Not surprisingly, Mr. Ulmann's LinkedIn profile shows that he once worked for Mr. Zolty"

"This land was acquired circa 1870 and is carried on ALEX's books at $150 / acre (~$13m)"

"A single drug represents 63% of Celgene revenue and is facing an impending patent cliff"

"Synergies can only be recognized if there is continued investment in Celgene’s pipeline"

"We have identified opportunities that we would improve margins by approximately 900bps."

"CP's longer hauls naturally command lower prices, but service quality has been a factor"

"A further increase in mortgages rates could easily imperil the nascent housing recovery"

"there is no argument against operating with improved efficiency, cash flow and margins."

"Cognizant is the only large-cap IT service provider which does not maintain a dividend."

"SCC is one of the leading global providers of cement additives and concrete admixtures."

"We believe the Company should focus on reducing reliance on sole-sourced raw materials."

"Without Evidence, P&G Claims that “Companies face lasting effects [after Trian exits]”:"

"Disney’s Claim That It Has “Turned the Corner and Entered a New Era” Rings Hollow to Us"

"Wall Street analysts have repeatedly highlighted Huntsman’s poor operational execution."

"These inconsistencies indicate that there was a rushed effort to account for the funds."

"As a stand-alone company, TWC would be optimally positioned to face future competition."

"XL LACKS THE SUPPLY CHAIN AND PROPRIETARY TECHNOLOGY FOR EFFECTIVE FULL ELECTRIFICATION"