Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

Tung Ho Steel Enterprise / Index Rebalance

<ul>
<li>The TDIV index tracks the top 50 names in the Taiwan Stock Exchange with the highest dividend yields. It is a yield-weighted index with unique capping rules.</li>
<li>There were some key methodology changes announced for this index yesterday.</li>
<li>In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the December 2025 index rebal event.</li>
</ul>


The TDIV index tracks the top 50 names in the Taiwan Stock Exchange with the highest dividend yields. It is a yield-weighted index with unique capping rules.
There were some key methodology changes announced for this index yesterday.
In this insight, we take look at Quiddity's expectations for index changes and capping flows for the TDIV Index for the December 2025 index rebal event.


Quiddity Leaderboard TDIV Dec25: Key Methodology Changes; High-Impact Flows; US$3.6bn One-Way

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

Thematic (Sector/Industry)

<ul>
<li>We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology</li>
<li>Portfolio changes: Four stocks remain, 10 stocks added into portfolio</li>
<li>Since its inception, it has generated a before-fee total return of 268% versus the MSCI Asia ex Japan of 128%</li>
</ul>


We highlight 14 stocks in Asia that look interesting to us based on our FVMR methodology
Portfolio changes: Four stocks remain, 10 stocks added into portfolio
Since its inception, it has generated a before-fee total return of 268% versus the MSCI Asia ex Japan of 128%


Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Aug 15th. The aggregated holding was USD1,197.2bn.</li>
<li>We estimate that foreign flows to be inflows of USD373mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in Hon Hai Precision, Quanta Computer, TSMC, Wistron, Zhen Ding Technology, Hon Hai Precision, Zhen Ding Technology, Quanta Computer, TSMC, Wistron.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Aug 15th. The aggregated holding was USD1,197.2bn.
We estimate that foreign flows to be inflows of USD373mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in Hon Hai Precision, Quanta Computer, TSMC, Wistron, Zhen Ding Technology, Hon Hai Precision, Zhen Ding Technology, Quanta Computer, TSMC, Wistron.


TWSE Foreign Holding Weekly (Aug 15th): Hon Hai Precision, Quanta Computer, TSMC, Wistron

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Aug 8th. The aggregated holding was USD1,194.8bn.</li>
<li>We estimate that foreign flows to be inflows of USD1,623mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, Hon Hai Precision, Quanta Computer, Taishin Financial, Wistron, TSMC, Hon Hai Precision, Quanta Computer, Wistron, Taishin Financial.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Aug 8th. The aggregated holding was USD1,194.8bn.
We estimate that foreign flows to be inflows of USD1,623mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Hon Hai Precision, Quanta Computer, Taishin Financial, Wistron, TSMC, Hon Hai Precision, Quanta Computer, Wistron, Taishin Financial.


TWSE Foreign Holding Weekly (Aug 8th): TSMC, Hon Hai Precision, Quanta Computer, Taishin Financial

<ul>
<li>We analyzed the changes in foreign holdings of TWSE Stocks as of Aug 1st. The aggregated holding was USD1,155.3bn.</li>
<li>We estimate that foreign flows to be inflows of USD659mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.</li>
<li>We highlight changes of foreign holdings in TSMC, Quanta Computer, Hon Hai Precision, Taishin Financial, MediaTek, TSMC, Quanta Computer, Hon Hai Precision, Taishin Financial, Mediatek.</li>
</ul>


We analyzed the changes in foreign holdings of TWSE Stocks as of Aug 1st. The aggregated holding was USD1,155.3bn.
We estimate that foreign flows to be inflows of USD659mln. We tabulate the league tables for top changes by value for 1W/4W/1Y and top stocks held by foreign institutions.
We highlight changes of foreign holdings in TSMC, Quanta Computer, Hon Hai Precision, Taishin Financial, MediaTek, TSMC, Quanta Computer, Hon Hai Precision, Taishin Financial, Mediatek.


TWSE Foreign Holding Weekly (Aug 1st): TSMC, Quanta Computer, Hon Hai Precision, Taishin Financial

Taiwan

Taiwan Mobile Co., Ltd. provides cellular telecommunication services in Taiwan. The Company also sells and leases cellular phones.

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Taiwan Mobile (3045 TT)

Quiddity Leaderboard TDIV Dec25: Key Methodology Changes; High-Impact Flows; US$3.6bn One-Way

We expect 6 ADDs and 6 DELs based on the latest index methodology. We expect US$3.6bn in one-way flows in December 2025 which is around 21%...

Janaghan Jeyakumar, CFA

The Stocks to Own in Asia – Vol. 50

We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology. Portfolio changes: Four stocks remain, 10 stocks added.

A. Stotz Investment Research

TWSE Foreign Holding Weekly (Aug 15th): Hon Hai Precision, Quanta Computer, TSMC, Wistron

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in Hon Hai Precision (2317 TT), Quanta Computer...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Aug 8th): TSMC, Hon Hai Precision, Quanta Computer, Taishin Financial

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Hon Hai Precision (2317 TT),...

Ke Yan, CFA, FRM

TWSE Foreign Holding Weekly (Aug 1st): TSMC, Quanta Computer, Hon Hai Precision, Taishin Financial

We analyzed TWSE foreign holding data for the past week and highlighted foreign holding changes in TSMC (2330 TT), Quanta Computer (2382 TT), Hon...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)