Callouts & quotes from 3,339+ activist slides

"We continue to believe that, in a world where capital is allocated to maximize economic efficiency, Olam's shares have no value."

"Spruce Point believes that Remitly's cash (and valuation) is likely to be overstated because it includes cash held for clients."

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

"We do not believe that Mr. Trujillo’s Australian telecommunications background brings relevant expertise to a US retail company"

"We believe that the onshore cash is far less than what NQ claims, and that it uses a portion of the excess to commit its fraud."

"We believe HIMS does little more than breathless hand-waving when it comes to the potential international TAM for its offering."

"The reality is so far from BLI's grandiose hype that we believe its product claims and practices may constitute outright fraud."

"REZI’s “Exclusive Brands” growth story is not by accident. We believe it is because it has little edge in many brands it sells."

"We believe CLEAR trades at an unwarranted premium to other technology-centric and growth-oriented consumer subscription models."

"For these reasons, we believe specialized industry expertise is key to drive a fast return to profitable growth at the Company."

"We believe Leidos’ Thailand distributor M.I.T Solutions is an unusual entity that sells both Security and Planetarium products."

"We believe this qualifies as a “material legal development,” which QTT is required to disclose to investors on an SEC Form 6-K."

"We Believe Management Created a Sham Loan and Lied to Investors to Hide the Loss of a Top Tenant at Ashford Lane for ~18 months"

"We believe EH is using these sham contracts with Kunxiang as the basis fabricated sales that make up most of its total revenue."

"We believe that the upside in APD remains significant as it continues its transformation under a great CEO and management team"

"We believe CP remains an attractive investment led by a superlative management team with further potential in the coming years"

"We believe Commvault has the ability to achieve its long-standing mid-20s operating margin target within the next three years."

"Spruce Point does not believe management is well-suited to run a large, capital-intensive public company in the auto industry."

"We believe CP remains an attractive investment led by a superlative management team with further potential in the coming years"

"Only an idiot could believe that Chairman Ding and his cohorts intended anything other than theft of assets from shareholders."

"We believe Tempus is overvalued relative to both hype and momentum-oriented AI companies, along with medical diagnostic peers."

"We believe RSK's ambitions to recruit and acquire environmental engineering and consultancies will come at the expense of WSP."

"Recent interviews of former Zebra executives highlight a few trends and issues that we believe will hold back sales potential."

"We believe that the upside in APD remains significant as it continues its transformation under a great CEO and management team"

"We believe that a standalone Bristol-Myers will be better positioned and less risky than a combined Bristol-Myers and Celgene."

"Rather than $75 billion, we believe Celgene's marketed products and associated cost synergies should be valued at $62 billion."

"We believe HIMS glosses over regulatory restrictions related to compounding and wrongly implies its products are FDA-approved."

"WFG recruiting programming often aims to involve recruits' spouses, we believe to potentially deepen the emotional connection."

"We believe CP remains an attractive investment led by a superlative management team with further potential in the coming years"

"Nelson Peltz, the Trian team and Allegion believe that good corporate governance and good operational results go hand in hand."

"We make some conservative estimates and believe that tariff costs could easily cause Axon to miss its EBITDA estimates by 10%."

"We believe the company was avoiding answering the question because it is unclear how much of the wall it can afford to remove."

"We believe this transaction was a sham intended to burn off fake revenues and siphon off cash from IQ’s recent Nasdaq listing."

"We believe CP remains an attractive investment led by a superlative management team with further potential in the coming years"

"Stryker revised its historical balance sheet in 2011. We believe it was trying to cover-up issues with loaner instrumentation."

"We Believe ROAD’s Levered Acquisition Expansions To Texas And Oklahoma Are Problematic And Deflect Attention Away From Florida"

"We believe that the upside in APD remains significant as it continues its transformation under a great CEO and management team"

"We believe the acquisition of Vantage is an ideal transaction to begin HHH’s transformation into a diversified holding company"

"we believe Commvault has the ability to achieve its long-standing mid-20s operating margin target within the next three years."

"We believe that the best way to do this is to make underperforming management teams and boards accountable or to replace them."

"We believe CP remains an attractive investment led by a superlative management team with further potential in the coming years"

"We believe that the upside in APD remains significant as it continues its transformation under a great CEO and management team"

"This combined with future commitments IIPR still has to fulfill, we believe the company will face insolvency in the near term."

"We believe that the upside in APD remains significant as it continues its transformation under a great CEO and management team"

"To believe these numbers, it would mean that EDU instituted substantial price increases in the face of declining enrollments."

"Based on our research, we believe GFL had significant employee retention issues from its acquisition of Future Environmental."

"We believe Canadian Tire has few competitive advantages to differentiate itself in the highly competitive retail environment."

"With penetration now accelerating, we believe that this corroborates our view that the U.S. T1 CGM market is ~50% penetrated."

"We believe Fluor is unique as one of the few companies capable of delivering true end-to-end EPCM solutions across industries"

"We believe Fluor's early investment and sustained involvement positioned NuScale to become a leader in small modular reactors"

"We believe an apples-to-apples comparison reveals that the Company MISSED its 2018 Investor Day Adjusted EBITDA target by 18%"

"We believe the value of the thermal coal, met coal, legacy oil and gas, and assets to be sold equal today's enterprise value."

"Spruce Point believes that Zebra is understating the impact of a recently disclosed “immaterial” inventory misclassification."

"Citron has reason to believe that CEO Cedric Francois is not being honest with Wall St. about the report cases of vasculitis."

"We believe our segment comparables are eminently reasonable given their business and financial attributes compared to Intuit."

"We believe that the Nkran pit floor is fast becoming too narrow to mine, a condition known in the industry as “pinching out”."

"We believe Fluor is unique as one of the few companies capable of delivering true end-to-end EPCM solutions across industries"

"We believe Fluor’s early investment and sustained involvement positioned NuScale to become a leader in small modular reactors"

"We believe its multiple will compress once the market realizes its true organic growth is trending towards low single digits."

"For all of the reasons stated above, we do not believe that RMI is the cash equivalent that management presents to investors."