Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL")

BACKGROUND
I have 20+yrs experience in Asia doing alternative strategies (i.e. non-delta1 non long-only) in fixed income, equity derivatives, and activist/catalyst/event-driven and long-short equity strategies with most of that time spent managing money. 

4 years in fixed income macro, 8 years running internal hedge fund and 4yrs investment banking at Citi in Japan, 3 years running an Asia multi-strat portfolio at a hedge fund, 4+yrs as an independent special situations analyst.

Pan-Asia Catalysts/Events

Crime Scene Investigation: How Seven&I (3382-JP) Murdered the ACT (ATD-CA) Deal

The Final ACT Comedy of Errors Opens the Way for Real Value to Emerge at Seven & I

Japan Retail Sector Review 2025: Patchier Growth but Opportunities Within

7&I (3382) - FY24 Better, FY25 OK, Surprisingly Large Buyback

7&I (3382) - Clarifications of Clarifications But Progress Is Apparent

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/alimentation-couche-tard-inc" target="_blank" data-smartkarma-citation="entities:25103:1" rel="noopener">Alimentation Couche-Tard (ATD CN)</a> which proposed a takeover to <a href="https://www.smartkarma.com/entities/seven-i-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:1041:1" rel="noopener">Seven &amp; I Holdings (3382 JP)</a> almost a year ago, has walked. They delivered a <a href="https://corporate.couche-tard.com/2025-07-16-ALIMENTATION-COUCHE-TARD-ANNOUNCES-WITHDRAWAL-OF-PROPOSAL-TO-ACQUIRE-SEVEN-I-HOLDINGS-DUE-TO-LACK-OF-ENGAGEMENT" target="_blank" rel="noopener">letter bomb</a> on the way out.</li>
<li>The letter is titled "ALIMENTATION COUCHE-TARD ANNOUNCES WITHDRAWAL OF PROPOSAL TO ACQUIRE SEVEN &amp; I HOLDINGS DUE TO LACK OF ENGAGEMENT." This is not the first time they have complained.</li>
<li>The letter is not aimed at the 7&amp;i Board or at ATD stakeholders. It is meant to drive a wedge between 7&amp;i active shareholders and its management team. We'll see.</li>
</ul>



Alimentation Couche-Tard (ATD CN) which proposed a takeover to Seven &amp; I Holdings (3382 JP) almost a year ago, has walked. They delivered a letter bomb on the way out.
The letter is titled "ALIMENTATION COUCHE-TARD ANNOUNCES WITHDRAWAL OF PROPOSAL TO ACQUIRE SEVEN &amp; I HOLDINGS DUE TO LACK OF ENGAGEMENT." This is not the first time they have complained.
The letter is not aimed at the 7&amp;i Board or at ATD stakeholders. It is meant to drive a wedge between 7&amp;i active shareholders and its management team. We'll see.


7&I (3382 JP) - Alimentation Couche-Tard Walks, Lobbing a Letter Bomb