US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

Marvell Technology, Inc. develops and produces semiconductors and related technology. The Company offers security and networking platform, secure data processing, networking, and storage solutions. Marvell Technology serves customers worldwide.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/marvell-technology-inc" target="_blank" data-smartkarma-citation="entities:15837:1" rel="noopener">Marvell Technology (MRVL US)</a> became eligible at the last minute for S&amp;P500 inclusion in the December 2025 review, following positive Q3 earnings.</li>
<li>
<a href="https://www.smartkarma.com/entities/marvell-technology-inc" target="_blank" data-smartkarma-citation="entities:15837:1" rel="noopener">Marvell Technology (MRVL US)</a> experienced a significant turnaround in profitability in the last year, but its latest earnings are driven by non-operational activity.</li>
<li>The company's market cap and other eligibility metrics are estimated to place it among the top addition candidates for S&amp;P500 with a higher chance of inclusion in 2026.</li>
</ul>



Marvell Technology (MRVL US) became eligible at the last minute for S&amp;P500 inclusion in the December 2025 review, following positive Q3 earnings.

Marvell Technology (MRVL US) experienced a significant turnaround in profitability in the last year, but its latest earnings are driven by non-operational activity.
The company's market cap and other eligibility metrics are estimated to place it among the top addition candidates for S&amp;P500 with a higher chance of inclusion in 2026.


Marvell Technology (MRVL US): Heroic Earnings Unlock S&P500 Eligibility

Comfort Systems USA, Inc. provides heating, ventilation, and air conditioning system installation, maintenance, repair, and replacement services. The Company's commercial and industrial markets include office buildings, retail centers, apartment complexes, hotels, manufacturing plants, and government facilities.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/crh-plc-054117b2-cd70-470a-9efc-8f6fab2c83ec" target="_blank" data-smartkarma-citation="entities:28655:1" rel="noopener">CRH (CRH US)</a> and <a href="https://www.smartkarma.com/entities/comfort-systems-usa-inc" target="_blank" data-smartkarma-citation="entities:6730:1" rel="noopener">Comfort Systems USA (FIX US)</a> are the main candidates for addition due to consistently high eligibility scores.</li>
<li>
<a href="https://www.smartkarma.com/entities/pure-storage-inc" target="_blank" data-smartkarma-citation="entities:27421:1" rel="noopener">Pure Storage Inc (PSTG US)</a> and <a href="https://www.smartkarma.com/entities/solstice-advanced-materials" target="_blank" data-smartkarma-citation="entities:45953:1" rel="noopener">Solstice Advanced Materials (SOLS US)</a> face reduced conviction due to sector balance and turnover.</li>
<li>
<a href="https://www.smartkarma.com/entities/vertiv-holdings-co" target="_blank" data-smartkarma-citation="entities:33140:1" rel="noopener">Vertiv Holdings Co (VRT US)</a> has a higher probability of inclusion following the acquisition of <a href="https://www.smartkarma.com/entities/kellogg-co" target="_blank" data-smartkarma-citation="entities:16090:1" rel="noopener">Kellogg Co (K US)</a> which is still pending.</li>
</ul>



CRH (CRH US) and Comfort Systems USA (FIX US) are the main candidates for addition due to consistently high eligibility scores.

Pure Storage Inc (PSTG US) and Solstice Advanced Materials (SOLS US) face reduced conviction due to sector balance and turnover.

Vertiv Holdings Co (VRT US) has a higher probability of inclusion following the acquisition of Kellogg Co (K US) which is still pending.


S&P500 December 2025 Final Forecast: FIX & CRH Leading the Pack

Verisure Holding AB operates as a holding company. The Company, through its subsidiaries, designs, sells, and installs burglar alarms, water and smoke detectors, security panels, smart plugs, inertia sensors, cameras, and voting units. Verisure Holding serves customers worldwide.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/verisure-holding-ab" target="_blank" data-smartkarma-citation="entities:43889:1" rel="noopener">Verisure Holding (VSURE SS)</a> is forecasted to be added at a market cap of ~$19bn following its IPO on 8 October.</li>
<li>
<a href="https://www.smartkarma.com/entities/metlen-energy-metals-plc" target="_blank" data-smartkarma-citation="entities:45704:1" rel="noopener">Metlen Energy &amp; Metals (MTLN LN)</a> is expected to be added at a market cap of ~$6bn due to a change of incorporation and primary listing from Greece to UK.</li>
<li>
<a href="https://www.smartkarma.com/entities/schibsted-asa" target="_blank" data-smartkarma-citation="entities:22250:1" rel="noopener">Vend Marketplaces ASA (VEND NO)</a> is projected to be added at a market cap of ~$6bn because of the unification of its share class structure.</li>
</ul>



Verisure Holding (VSURE SS) is forecasted to be added at a market cap of ~$19bn following its IPO on 8 October.

Metlen Energy &amp; Metals (MTLN LN) is expected to be added at a market cap of ~$6bn due to a change of incorporation and primary listing from Greece to UK.

Vend Marketplaces ASA (VEND NO) is projected to be added at a market cap of ~$6bn because of the unification of its share class structure.


STOXX Europe600 Dec25 Forecast: VSURE, VEND & MTLN Leading Top Additions

<ul>
<li>
<a href="https://www.smartkarma.com/entities/lg-electronics-india" target="_blank" data-smartkarma-citation="entities:44148:1" rel="noopener">LG Electronics (LGEINDIA IN)</a> went public on 14 October 2025 on NSE and has a current market cap of over $12bn.</li>
<li>Inclusion in Global All-World is expected in June 2026 as it passes eligibility and thresholds.</li>
<li>Earliest possible inclusion in Global Standard is February 2026; however, it is currently estimated to fail the float cap threshold.</li>
</ul>



LG Electronics (LGEINDIA IN) went public on 14 October 2025 on NSE and has a current market cap of over $12bn.
Inclusion in Global All-World is expected in June 2026 as it passes eligibility and thresholds.
Earliest possible inclusion in Global Standard is February 2026; however, it is currently estimated to fail the float cap threshold.


LG Electronics (LGEINDIA IN): Global Index Inclusion Post-IPO

US-EU Index & Corporate Actions Analyst, ORTEX

Harry Kalfas

US-EU Index & Corporate Actions Analyst

Unilever PLC manufactures branded and packaged consumer goods, including food, detergents, fragrances, home and personal care products.  Dually-listed company with UNA NA.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/unilever-plc" target="_blank" data-smartkarma-citation="entities:22197:1" rel="noopener">Unilever PLC (ULVR LN)</a> is spinning off its Ice Cream business into a standalone publicly-listed company, The Magnum Ice Cream Company ("TMICC").</li>
<li>TMICC is expected to list in early December 2025, trading under the ticker "MICC" on Euronext Amsterdam, LSE and NYSE.</li>
<li>Significant index implications across EU and Global indices, on an intra-quarter basis.</li>
</ul>



Unilever PLC (ULVR LN) is spinning off its Ice Cream business into a standalone publicly-listed company, The Magnum Ice Cream Company ("TMICC").
TMICC is expected to list in early December 2025, trading under the ticker "MICC" on Euronext Amsterdam, LSE and NYSE.
Significant index implications across EU and Global indices, on an intra-quarter basis.


Unilever Spins Off Magnum Ice Cream: Index Changes Ahead

ORTEX
Global Financial Data and Analytics Platform

Marvell Technology (MRVL US): Heroic Earnings Unlock S&P500 Eligibility

MRVL is labelled bullish for index rebalance but bearish in fundamentals following the fourth consecutive positive earnings and high price-to...

Dimitris Ioannidis

S&P500 December 2025 Final Forecast: FIX & CRH Leading the Pack

CRH and FIX are top candidates for addition in December 2025, while PSTG and SOLS face reduced conviction. VRT has a higher chance of inclusion...

Dimitris Ioannidis

STOXX Europe600 Dec25 Forecast: VSURE, VEND & MTLN Leading Top Additions

VSURE or MTLN may be added ahead of the review as a replacement following KKR’s cash acquisition of Spectris (SXS), which is expected to close on 3...

Dimitris Ioannidis

LG Electronics (LGEINDIA IN): Global Index Inclusion Post-IPO

LGEINDIA is trading 50% above its IPO offer price, at a market cap of $12.5bn and is set for Global All-World inclusion in June 2026 while facing...

Dimitris Ioannidis

Unilever Spins Off Magnum Ice Cream: Index Changes Ahead

Unilever PLC (ULVR) is spinning off its Ice Cream business, "TMICC", (MICC), expected to list in December 2025 with notable intra-quarter EU and...

Harry Kalfas

Marvell Technology (MRVL US): Heroic Earnings Unlock S&P500 Eligibility

MRVL is labelled bullish for index rebalance but bearish in fundamentals following the fourth consecutive positive earnings and high price-to...

Dimitris Ioannidis

S&P500 December 2025 Final Forecast: FIX & CRH Leading the Pack

​CRH and FIX are top candidates for addition in December 2025, while PSTG and SOLS face reduced conviction. VRT has a higher chance of inclusion...

Dimitris Ioannidis

STOXX Europe600 Dec25 Forecast: VSURE, VEND & MTLN Leading Top Additions

VSURE or MTLN may be added ahead of the review as a replacement following KKR’s cash acquisition of Spectris (SXS), which is expected to close on 3...

Dimitris Ioannidis

LG Electronics (LGEINDIA IN): Global Index Inclusion Post-IPO

LGEINDIA is trading 50% above its IPO offer price, at a market cap of $12.5bn and is set for Global All-World inclusion in June 2026 while facing...

Dimitris Ioannidis

Unilever Spins Off Magnum Ice Cream: Index Changes Ahead

Unilever PLC (ULVR) is spinning off its Ice Cream business, "TMICC", (MICC), expected to list in December 2025 with notable intra-quarter EU and...

Harry Kalfas

CRH and FIX are top candidates for addition in December 2025, while PSTG and SOLS face reduced conviction. VRT has a higher chance of inclusion...