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

[Japan Offering] ARCHION (543A) Incoming - Big Re-IPO Now Smaller, Better

[Japan Offering] ARCHION (543A JP) Offering Announced - The RE-IPO Is On

Toyota Motor (7203 JP) Tactical Outlook After Archion Secondary Offering

[Quiddity Index] Nikkei 225 Sep26 Rebal - Changing Horses on the Third ADD

JX Advanced Metals (5016 JP) Big Buyback, Big CB, Disappointing Guidance, Stock De-Frothing

[Quiddity Index] Nikkei 225 Sep26 Rebal - Changing Horses on the Top DELETE

Primer: JX Advanced Metals (5016 JP) - May 2026

Quiddity Advisors

Index Rebalance

<ul>
<li>Just after I last wrote a couple of weeks ago noting that the Top DELETE candidate had changed just weeks after the 3rd ADD candidate had changed, two caps arrived.</li>
<li>
<a href="https://www.smartkarma.com/entities/advantest-corp" target="_blank" data-smartkarma-citation="entities:18107:1" rel="noopener">Advantest Corp (6857 JP)</a> and <a href="https://www.smartkarma.com/entities/tokyo-electron-ltd" target="_blank" data-smartkarma-citation="entities:280:1" rel="noopener">Tokyo Electron (8035 JP)</a> went over 10% and have stayed up. <a href="https://www.smartkarma.com/entities/fast-retailing-co-ltd" target="_blank" data-smartkarma-citation="entities:751:1" rel="noopener">Fast Retailing (9983 JP)</a> is about 6% away. But FR and Advantest are negatively-correlated.</li>
<li>Newly available data tells us more about <a href="https://www.smartkarma.com/entities/jx-advanced-metals-corporation" target="_blank" data-smartkarma-citation="entities:44346:1" rel="noopener">JX Advanced Metals (5016 JP)</a> and <a href="https://www.smartkarma.com/entities/kokusai-electric-corp" target="_blank" data-smartkarma-citation="entities:40152:1" rel="noopener">Kokusai Electric (6525 JP)</a>. The DELETE candidates are tougher.  </li>
</ul>


Just after I last wrote a couple of weeks ago noting that the Top DELETE candidate had changed just weeks after the 3rd ADD candidate had changed, two caps arrived.

Advantest Corp (6857 JP) and Tokyo Electron (8035 JP) went over 10% and have stayed up. Fast Retailing (9983 JP) is about 6% away. But FR and Advantest are negatively-correlated.
Newly available data tells us more about JX Advanced Metals (5016 JP) and Kokusai Electric (6525 JP). The DELETE candidates are tougher.  


[Quiddity Index] Nikkei 225 Sep26 Rebal - Easy ADDs, Tough DELETEs, Two(?) Caps; And Squeeziness