Callouts & quotes from 3,339+ activist slides

"We believe Amcor’s Statement of Cash Flow does not comply with FASB guidelines as it does not show restricted cash movements."

"Elliott believes the adoption of the Accelerate Hyundai Proposals can benefit all stakeholders across the Hyundai Motor Group"

"Spruce Point believes the Digital ID model does not work for CLEAR and data security risk for CLEAR is a significant concern."

"We continue to believe that any proposal for housing finance reform must satisfy the following conditions in order to succeed"

"We believe Barclays' chart makes Kalshi's hold rate look much higher when measured against true notional traded (both sides)."

"We Believe Co-Founder And Board Executive Chair Hasson Has Misrepresented Her Past And The FIGS Origin Story Is Questionable"

"We believe that rising levels of U.S. investment will translate into new project opportunities for Fluor in its core markets"

"We believe this is yet another example of McDonald’s’ leadership’s unwillingness to embrace and act on stakeholder feedback."

"If housing finance reform is successful, we believe Fannie and Freddie will be worth multiples of their current share prices"

"We believe the CEO's response to a question of why it chose Millville is whimsical and displays a lack of in depth planning."

"Spruce Point observes that Saputo has implemented a few financial strategies which we believe are designed to conserve cash."

"As a first step, we believe there must be Board change at Huntsman, including direct representation for common shareholders."

"We believe its citation which emphasizes the need to "preserve and increase our market competitiveness" is a major red flag."

"Darden’s recent Bylaw amendments underscore what we believe to be the Company’s blatant disregard for shareholder interests."

"We believe that rising levels of U.S. investment will translate into new project opportunities for Fluor in its core markets"

"Spruce Point believes the market is missing multiple factors signaling extreme financial strain in the Stryker equity story."

"We believe further disclosure from management is required to address this issue in order to avoid a Galderma-like situation."

"We Believe The Pest Control Industry Has Recently Become More Competitive And Rollins Is Struggling To Maintain Its Position"

"With such an insignificant presence in China's two largest media markets, we do not believe CCME's reported revenue numbers."

"We do not believe investors and analysts are looking carefully at its aggressive use of capital leases which inflate EBITDA."

"We believe that Tempus Labs (now promoted as Tempus AI) is their next big technology promotion that is likely to disappoint."

"If housing finance reform is successful, we believe Fannie and Freddie will be worth multiples of their current share prices"

"We believe it is simply impossible to justify the price of the property to rise from $2M to $6.86M in just a matter of days."

"We believe this is a false and misleading statement to investors, and a securities law violation. We reported it to the SEC."

"We believe Darden must revamp its advertising strategy and increase traffic through efficient and focused advertising spend"

"We believe Darden must revamp its advertising strategy and increase traffic through efficient and focused advertising spend"

"We believe P&G should earn a 24% EBIT margin – a substantial increase in profitability from its current EBIT margin of ~19%"

"NQ is a massive fraud. We believe it is a “Zero”. At least 72% of NQ’s purported 2012 China security revenue is fictitious."

"We believe WFG pushes the boundaries when using emotional or high-pressure tactics in its recruiting and sales programming."

"We believe this supports our opinion that the challenges faced by PERI's search business are more permanent then temporary."

"We believe that O’s tenant quality is poor and the company is concerned about the impact of transparency on its stock price"

"We believe the accounting IQE used to avoid recognizing any loss, and the resulting non-recognition, are highly aggressive."

"Spruce Point believes that Porch’s partnership with home inspectors is a last ditch effort to make its business model work."

"We believe the previous purchase price of $2M just days prior to IIPR’s purchase to be more accurate value of the property."

"Ultimately, we believe Ceres embodies a fundamentally flawed business model unfit for a public company in its current form."

"We believe the clues in Sorena Turbine’s video can be used to match its location to the company address in Chitgar, Tehran."

"We believe that the Board will benefit greatly by having a representative of a significant shareholder serve on the Board."

"We believe that Target’s suboptimal board has contributed to the company’s material underperformance during this recession"

"We believe that this will spark a material migration of Dexcom users to the Libre, which is now technologically comparable"

"The FTC believes the exclusion of zero-earning distributors is relevant to a determination that an MLM is a pyramid scheme"

"We do not believe bank standards are appropriate for the GSEs’ guarantee business, which carries significantly fewer risks"

"We believe the existing junior preferred can be left outstanding, refinanced, or converted to common on a negotiated basis"

"Through this deal, which is probably as clean as a Vitek deal gets, we believe Vitek pocketed approximately ~€118 million."

"We believe this underperformance pressured Fairfax into becoming aggressive in pulling accounting levers starting in 2018."

"We believe BEKE uses these SAIC listed non-physical locations as “ghost stores” as false support for its SEC store counts."

"As Amazon grows its product lines, we believe it will be nearly impossible for PBH to compete in the e-commerce landscape."

"Elliott believes Phillips 66 (NYSE: PSX) has a significant value creation opportunity driven by the quality of its assets."

"We believe there are several corporate Governance red flags with Danimer’s management team that should worry ESG investors"

"We do not believe bank standards are appropriate for the GSEs’ guarantee business, which carries significantly fewer risks"

"We believe the existing junior preferred can be left outstanding, refinanced, or converted to common on a negotiated basis"

"We believe Limbach’s treatment of acquisition and restructuring costs in its Adj. EBITDA calculation is overly permissive."

"We believe that the Board will benefit greatly by having a representative of a significant shareholder serve on the Board."

"We have reason to believe that the select assets and 1.83 acre Los Angeles cannabis campus are actually the same property."

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

"We believe the market is offering investors a world-class business for relatively low multiples of earnings and cash flow"

"Based on our diligence, we believe Crown Castle can achieve a 40% capex revenue ROI on $600M of Fiber discretionary capex"

"We believe there is room for 10k to 12k additional stores¹ or a decade of store growth at the current industry build rate"

"Management believes it can return to FY22 profitability by the end of FY24 and move toward peer margin levels thereafter."

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

"Against what we believe is a fully objective list of peer companies, Dr. Kleinfeld demonstrates profound underperformance"