Phillips 66 (PSX)

Icahn · 2025-05
arc beats above · slides in the middle · loops below · scroll → 0 LOOPS
SETUP TENSION ANALYSIS EVIDENCE RESOLUTION APPENDIX
HOVER FOR DETAILS · CLICK A SLIDE FOR FULLSCREEN · STEP 2
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Deck intelligence map

3
coverage by narrative range · generated from this deck JSON

Slide inventory

43
every slide · same image gating as the playbook
01
Slide 1
front_matter
02
The slide uses a bold yellow background with the Elliott logo and a stylized '66' branding.front_matter
03
front_matter
04
transition
Open slide detailBeat · Problem (Identify pain)
05
The chart highlights a massive negative performance gap, with specific underperformance percentages cited for Valero and Marathon.compare_peers
Open slide detailBeat · Problem (Identify pain)
06
Uses a torn-paper visual effect to frame the company's original slide, contrasting it with a rebuttal callout box.expose_contradiction
Open slide detailBeat · Problem (Identify pain)
07
The chart is presented as a torn-paper cutout to emphasize it is an excerpt from the company's own report.expose_contradiction
Open slide detailBeat · Problem (Identify pain)
08
The slide uses the 'ceo-quote-contradiction' framework to set up a contrast between management's self-assessment and the activist's thesis.expose_contradiction
Open slide detailBeat · Problem (Identify pain)
09
Uses a classic A/B choice framing to polarize the decision.closing_ask
Open slide detailBeat · Problem (Identify pain)
10
Includes a valuation bridge showing potential upside from $103 to $183.summarize
Open slide detailBeat · Agitate (Make it worse)
11
The slide uses a 'before-after' logic applied to a peer comparison to justify the activist thesis.compare_peers
Open slide detailBeat · Agitate (Make it worse)
12
Uses a classic red/yellow split-screen contrast technique.frame_problem
Open slide detailBeat · Agitate (Make it worse)
13
Uses a red-to-blue color contrast to frame the 'Status Quo' as negative and the 'Streamline 66' proposal as positive.expose_contradiction
Open slide detailBeat · Agitate (Make it worse)
14
transition
Open slide detailBeat · Agitate (Make it worse)
15
preempt_rebuttal
Open slide detailBeat · Agitate (Make it worse)
16
Uses a 4-part comparative structure to debunk specific management claims.expose_contradiction
Open slide detailBeat · Agitate (Make it worse)
17
The slide uses a 'before-after' or 'expose' structure by showing the company's claim on the left and the activist's rebuttal on the right.expose_contradiction
Open slide detailBeat · Agitate (Make it worse)
18
The slide uses a 'before-after' or 'contradiction' framing to show how the company shifts definitions between pages of their own presentation.expose_contradiction
Open slide detailBeat · Agitate (Make it worse)
19
The slide uses a 'before-after' framing to expose the contradiction between company claims and actual performance metrics.expose_contradiction
Open slide detailBeat · Agitate (Make it worse)
20
The slide uses a red-bordered box to highlight the contradiction and a blue-bordered box to provide supporting evidence.expose_contradiction
Open slide detailBeat · Agitate (Make it worse)
21
Uses a screenshot of the company's own presentation as a 'villain' exhibit to expose a contradiction.expose_contradiction
Open slide detailBeat · Agitate (Make it worse)
22
The slide uses a 'before-after' framing to highlight the gap between original and revised project costs.expose_contradiction
Open slide detailBeat · Agitate (Make it worse)
23
Uses a 'Correcting the Narrative' table and a 'True PSX Trading Value' waterfall chart to discredit management's accounting.expose_contradiction
Open slide detailBeat · Agitate (Make it worse)
24
Uses a numbered callout system (01-04) to map specific claims in the company's presentation to the activist's rebuttals.expose_contradiction
Open slide detailBeat · Agitate (Make it worse)
25
Uses a combination of qualitative arguments and quantitative peer benchmarking to challenge management's cost projections.expose_contradiction
Open slide detailBeat · Solution (Provide relief)
26
Uses a scatter plot to compare separation costs as a percentage of equity value against peer transactions to highlight the outlier status of management's projecexpose_contradiction
Open slide detailBeat · Solution (Provide relief)
27
Uses a red 'X' overlay on a competitor's table to visually debunk their claims.expose_contradiction
Open slide detailBeat · Solution (Provide relief)
28
The slide uses a three-column comparison structure to debunk specific synergy claims.expose_contradiction
Open slide detailBeat · Solution (Provide relief)
29
The slide uses a three-column comparison structure to systematically dismantle specific corporate claims.expose_contradiction
Open slide detailBeat · Solution (Provide relief)
30
expose_contradiction
Open slide detailBeat · Solution (Provide relief)
31
Uses a combination of bar charts and box plots to demonstrate peer comparability.preempt_rebuttal
Open slide detailBeat · Solution (Provide relief)
32
appendix
Open slide detailBeat · Solution (Provide relief)
33
The slide uses the 'ceo-quote-contradiction' pattern to highlight management's past resistance to shareholder-friendly actions.expose_contradiction
Open slide detailBeat · Solution (Provide relief)
34
Uses executive quotes to expose contradiction in management's previous narrative regarding integration synergies.cite_precedent
Open slide detailBeat · Solution (Provide relief)
35
transition
Open slide detailBeat · Solution (Provide relief)
36
This is a screenshot of a tweet/post from the 'Streamline 66' account.introduce_nominees
37
This is a screenshot of a tweet/social post from the Streamline 66 campaign.introduce_nominees
39
This is a screenshot of a website landing page for an activist campaign.appendix
41
This is a screenshot of a campaign website landing page.appendix
42
This slide acts as a campaign hub or 'newsroom' page for the activist deck.summarize