Hong Kong And Shanghai Hotels LTD

• E7 East 72 Quarterly Report #13: Period to 31 March 2026 ↗ Dynasty Trust sold Carlyle, Vivendi, Nelnet and other lower-conviction holdings while increasing favored positions and retaining modest cash. It argues that HAL Trust remains materially discounted to asset value, sees potential catalysts at Odet and Bolloré, and makes a detailed case for Virtu Financial’s capital-retention pivot amid expanding market activity. Period to 31 March 2026 VIRT $8.6B45 BOIVF $12B +3

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