Callouts & quotes from 26,677+ activist slides

"In this case, we don't hate the player, we just hate the game."

"And guided to increase further by an outsized 7-8% YoY in 2024"

"In fact, it appears that WTRG has ignored this recommendation."

"ISS states Office Depot's Board structure is of "HIGH CONCERN""

"Increased M&A cost synergy target by ~40%, from $60mm to $85mm"

"PSH's share price is currently trading at a 5% discount to NAV"

"How many $200 million companies are in this apartment complex?"

"Six Flags sum of the parts suggests a potential double by 2024"

"Should Eurofins be Trusted? Three New Data Points Suggest "No""

"Vote AGAINST the Michael Dell/Silver Lake buyout scheme today!"

"Darden can support rent well in excess of what we have assumed"

"Marathon’s Board can and should do much more for shareholders."

"We Estimate that CPI PG Overvalues Bubny by Approximately 100%"

"Volume is primary growth driver for ~90% of Valeant's business"

"Twenty-two years later, IonQ has barely added any more qubits."

"Hess's problems are deeply rooted, pervasive, and fundamental."

"Shareholder Nominees Acknowledge The Problems and Can Fix Them"

"Pershing Square likes businesses with the following qualities:"

"Margin has Expanded & Cash Flow Nearly Doubled in Last 3 Years"

"OIBDA Margin in Int'l Physical is 18% vs. 44% in NOAM Physical"

"Beijing A-er-sha’s website showed that it only owned 20 buses."

"1,400 of the best acres for development are "Inside The Fence""

"Darden can support rent well in excess of what we have assumed"

"Darden has failed to take advantage of a promising opportunity"

"The expense of shipping makes coal a mostly regional business."

"And guided to increase further by an outsized 7-8% YoY in 2024"

"2) We Believe Viator’s Performance Should Meaningfully Improve"

"Really? So when did this “5” year restructuring begin and end?"

"These changes will result in sustained performance improvement"

"Management set its baseline as 2013. How have they done since?"

"Approximately $750 million deployed for $28 million in returns"

"2016 peer median = Arconic’s assets should produce $18 billion"

"What makes someone “external”? Perhaps Pat Russo could tell us"

"U.S. Real GDP growth has been positive the past three quarters"

"At $15 per share, PF GGP would emerge with a ~$16bn market cap"

"iRhythm Management Has Downplayed the FDA Issues at Every Turn"

"We believe NMC's reported debt is manipulated and understated."

"Insider Compensation is Short-Termist and Misaligns Incentives"

"Other Leading Asset Managers are for a “case by case” approach"

"これら3社をマジョリティ・オブ・マイノリティの計算で「マジョリティ」として正しく扱うと、実際の最低応募比率は46.5%となる"

"€20-25bn range indicated by previous CEO Cattaneo in June 2017"

"~70% of fee waivers (pretax) recovered if rates rise by 50 bps"

"Market shares are down in 68% of the top 20 country-categories"

"INVESTORS SEE PHILLIPS 66'S CEO, MARK LASHIER, AS INEFFECTIVE."

"This technically leads to remote code execution on the device."

"U.S. Home Prices are down 32% from peak and have not recovered"

"But in the midst of crisis, the government had no other choice"

"Mass-Market Personal Care has a long way to catch-up, and grow"

"CP's revenue yield lags CN's given its inferior service levels"

"And guided to increase further by an outsized 7-8% YoY in 2024"

"The Irvine Ranch is a private company and Bren will never sell"

"Integration offers little to no benefit and the costs are high"

"Phillips 66 has higher opex/bbl than VLO & MPC in every region"

"Investors seizing on bargain valuations for Class A Mall REITs"

"WITHOUT SUBSIDIES, XL'S VALUE PROPOSITION WORSENS EVEN FURTHER"

"Second step: Teach others to teach others what you've learned."

"“more money than he could have imagined” – “anybody can do it”"

"Friday, November 3, 2023 is the day Syfovre "Jumped the Shark""

"Recent large scale deals have been completed at ~11-17x EBITDA"

"Phillips 66 has higher opex/bbl than VLO & MPC in every region"