Callouts & quotes from 3,339+ activist slides

"While the company has made steady progress in boosting margins, we believe that optimized margins are far higher"

"Spruce Point believes the stock-for-stock merger of Amcor + Bemis was a deal done out of necessity for survival."

"Palliser firmly believes that the terms of the NewMed transaction fall well short of Capricorn’s intrinsic value"

"We believe Fannie and Freddie should be valued somewhere between P&C insurance companies and regulated utilities"

"While the company has made steady progress in boosting margins, we believe that optimized margins are far higher"

"While the company has made steady progress in boosting margins, we believe that optimized margins are far higher"

"This reflects, we believe, management putting its self-interest ahead of the best interests of all shareholders."

"We believe that Tessera’s high level of executive turnover evidences a dysfunctional Board and management team."

"We believe these quantifiable EBITDA improvement initiatives alone will create ~$15 - $26 per share in value(1)"

"We believe Darden's current challenges highlight an opportunity to execute a turnaround very similar to Brinker"

"Elliott believes a 150-250bps cut by reducing sales and marketing effort is in line with slowing growth outlook"

"We believe Darden’s current challenges highlight an opportunity to execute a turnaround very similar to Brinker"

"We believe the disconnect between message and facts is alarming: both shareholders and customers deserve better"

"We believe Skechers has dramatically increased its purchase commitments right as revenue growth begins to slow."

"We believe the aggregate impact of all these trends and changes has resulted in a worsening of revenue quality."

"Spruce Point believes it is a classic red flag when a company changes its inventory accounting policy language."

"We believe that HASI collects PIK interest to generate paper income when its EMIs are too stressed to pay cash."

"Spruce Point believes that WPP's large ownership stake in Globant could be a major overhang on the share price."

"There is nothing easy about achieving the wealth and lifestyle new distributors are led to believe are possible"

"Spruce Point believes that at least 45% of Verint’s Non-GAAP Net Income is attributed to unjustified add-backs."

"We believe we have found an even better short than OMNT with potential for a 90%+ decline in the next 6 months."

"We believe that this will only extend Abbott’s cost advantage and create further downside risk in CGM pricing."

"Fluor has nearly doubled its exposure to Urban Solutions, which we believe is poised to see substantial growth"

"We Believe Oatly Doesn't Practice What It Preaches: Stress Testing Oatly's Sustainability Claims And Practices"

"However, we believe the evidence shows that Oatly has experienced more recent product failures than successes."

"SP believes that the HDM backlog and growth is heavily predicated on China, despite select other opportunities"

"We believe Samsara has a clear history of using aggressive contract terms, particularly pricing, to win deals."

"We believe Elliott's strength is in catalyzing change – not just the identification, but the creation of value"

"We believe Elliott's strength is in catalyzing change – not just the identification, but the creation of value"

"We believe the Board’s compensation practices must be significantly improved in order to drive accountability."

"We believe Elliott's strength is in catalyzing change – not just the identification, but the creation of value"

"Fluor has nearly doubled its exposure to Urban Solutions, which we believe is poised to see substantial growth"

"In total, we believe that at least 11.4% of Adj. EBITDA are attributable to unusual and unjustified add-backs."

"We believe German entity revenues declined approximately 23% in 2020 based on disclosure in Heska's 2020 10-K."

"Assuming Brook Mine has an ace 60% recoverability rate, we believe Brook Mine will only yield $5.13 per tonne."

"We believe we have been very conservate by only taking the hold rate down to 7.2% in our most aggressive case."

"We Believe FIGS Exaggerates Its Total Addressable Market (TAM), Gross Margins, And Glosses Over Growth Issues"

"We believe this comparison is consistent with Procept's historical reluctance to acknowledge procedure risks."

"We believe Darden must get its advertising on concept and stop ridiculous promotions like “buy one, take one”"

"We believe Marathon’s severe undervaluation costs shareholders $14 – 19 billion (~60 – 80+% of equity value)."

"We believe Darden must get its advertising on concept and stop ridiculous promotions like “buy one, take one”"

"We believe change is warranted and necessary as a result of Edgewater's entrenched Board and management team."

"We believe much of the costs have circumvented the income statement and been accounted for as capex spending."

"We believe that Bristol-Myers spending on R&D per employee needs to be reduced through organizational changes"

"We believe that software contract buyouts are an extremely expensive and dubious customer acquisition tactic."

"We believe Freedonia’s marketing material is a redundant exercise, and the SEC should seek more clarity into:"

"We definitively believe the acquisition of Celgene is not in the best interest of Bristol-Myers shareholders."

"We are short China Huishan Dairy Holdings (6863 HK / “Huishan”) because we believe it is worth close to Zero."

"We Believe Cintas Overpaid For G&K, Is Struggling To Integrate It, And Spinning A Weak “Beat And Raise” Story"

"We believe Epiq trades with a "credibility discount" that impedes the stock from realizing its full potential"

"We believe UFPT's largest customer, ISRG, will materially reduce their spending with ISRG over the next year."

"We are excited to own the business at current valuation multiples as we believe there is substantial upside."

"We believe these connections best position Sportradar to maintain its dominant position in the United States"

"We believe the lower barrier to entry is reflective of the low value proposition of partnering with Generac."

"On what grounds are we to believe that loans originated by Carvana perform better than all other auto loans?"

"We believe fixing ADP’s competitive position will increase ES’s potential revenue growth from ~4% to 7% – 8%"

"With the right leaders in place and with a culture of innovation, we believe Olive Garden will be successful"

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

"We believe this strategy resulted in a significant shift in business mix that ultimately proved unsuccessful"

"We believe this represents a significant premium to pay for low-grade technology with limited pricing power."