Macquarie ETF Trust

• AV Asset Value Investors Ltd AVI Global Special Situations ↗ Toho is presented as an undervalued Japanese entertainment and intellectual-property owner whose property, securities and cash obscure the earnings power of its film, anime and distribution operations. KINX and GABIA benefited from Macquarie’s improved acquisition terms after activists rejected the initial proposal, while AVI argues Korean activism can unlock wider market discounts. October 2026 079940 $486M093320 $626MBILD

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