Callouts & quotes from 3,339+ activist slides

"We Believe Limbach’s Earnings May Be Inflated By Aggressive Accounting Practices"

"We believe PepsiCo may have mortgaged its long-term future in key growth markets"

"We believed APD’s EBIT margins (15.5%) could approach comparable Praxair (22.5%)"

"We believe that 58.com (WUBA) is a House of Cards with Little Economic Substance"

"We believe that HHC trades at a substantial discount to the value of its assets"

"We believe XPO's Adj. EBITDA is overstated as a result of aggressive add-backs."

"Therefore, we believe older, less improved sites have greater comparison value."

"We believe the Real Issue of this election is that Target’s board is suboptimal"

"We do not believe that Pershing Square's nominees would add value to the Board."

"We believe the change allows the Company to exclude churned customers from NRR."

"We believe there would be multiple parties interested in purchasing Tripadvisor"

"We believe that as growth slows, Sunnova's industry high multiple will contract"

"We believe that HHC trades at a substantial discount to the value of its assets"

"We believe there is a more efficient and effective product development process."

"We believe Uber’s P/E multiple is low in the context of its 30%+ growth profile"

"We believe this allowed Fairfax to avoid taking $251 million in losses in 2022."

"We believe that a focus on internal operations was not built into Vertiv’s DNA."

"Spruce Point believes that Viterra's results reflect a deeply injured business."

"We do not believe this amendment made any substantive changes to the status quo"

"We believe Uber’s P/E multiple is low in the context of its 30%+ growth profile"

"We believe that HHC trades at a substantial discount to the value of its assets"

"We believe IIPR has accumulated a highly toxic portfolio of low-quality assets."

"We believe that Disney no longer values free cash flow and that needs to change"

"We believe the Preferred Financing was unnecessary and stockholder-unfriendly."

"We Believe PowerSchool May Be Potentially Violating State Student Privacy Laws"

"We believe Alexandria could have 30-40% downside from the current share price."

"We believe investors should tread carefully that Oatly has misstated revenues."

"If properly managed, we believe that Bristol-Myers can reduce its SG&A expense"

"We believe that the actual ROI XL's customers generate on average is NEGATIVE."

"Our estimate of fair value is $0. We believe Lumen is fundamentally insolvent."

"Management should clarify if it still believes its service is price inelastic."

"We believe the new administration will successfully reform Fannie and Freddie"

"Spruce Point believes Generac massively overpaid for ecobee at 4.5x revenues."

"We believe that there is significant share price upside potential at Fortrea."

"We believe NuScale is well positioned in the nascent nuclear reactor industry"

"We believe Tripadvisor trades at an attractive multiple compared to its peers"

"We believe Tripadvisor trades at an attractive multiple compared to its peers"

"We Believe Zio Is A Commoditized Product In An Increasingly Crowded Landscape"

"We believe that there is significant share price upside potential at Fortrea."

"We believe P&G’s current “matrix” structure results in limited accountability"

"We believe ALEX's leased commercial real estate on Hawaii is worth over $400m"

"We believe the new administration will successfully reform Fannie and Freddie"

"We Believe Mailchimp Was A Questionable Deal That Masks QuickBooks’ Struggles"

"We believe Tripadvisor trades at an attractive multiple compared to its peers"

"We believe Tripadvisor trades at an attractive multiple compared to its peers"

"We believe NuScale is well positioned in the nascent nuclear reactor industry"

"We believe that there is significant share price upside potential at Fortrea."

"Over time, we believe Vertiv can reach 20% adjusted operating profit margins."

"We believe a decline in occupancy is likely as tenant quality deteriorates..."

"We believe that there is significant share price upside potential at Fortrea."

"We believe low revenue per merchant reduces the opportunity for cross-selling"

"We believe the new administration will successfully reform Fannie and Freddie"

"We believe it is undeniable that these are the exact same hobby grade motors."

"We do not believe Pfizer achieved “constant” and “breakthrough” innovations."

"We do not believe Pfizer achieved “constant” and “breakthrough” innovations."

"Our next report will detail why we believe TAL has fabricated Peiyou results"

"We Believe There is a Substantial Margin Improvement Opportunity at Autodesk"

"We believe the new method may allow the Company to delay a major impairment."

"We believe Disney's corporate culture does not welcome dissenting viewpoints"

"We do not believe Pfizer achieved “constant” and “breakthrough” innovations."