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  "documentTitle": "Phillips 66 (PSX)",
  "authorId": "02_Elliott_Management",
  "authorName": "Elliott",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2025-04-28 00:00:00",
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  "notes": "Uses a 'Claim vs. Reality' structure to preemptively rebut company attacks on board nominees.",
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      "text": "Source: Bloomberg. (1) Assessed Time Period of 12/07/10 – 4/23/25, assuming dividends are 100% completely in Targa Resources and the Alerian MLP Infrastructure Index.",
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      "kind": "title",
      "text": "CLAIM: ELLIOTT NOMINEES ARE WEAK\nREALITY: MISDIRECTION TO HIDE FROM ACCOUNTABILITY",
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