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

<ul>
<li>
<a href="https://www.smartkarma.com/entities/walmart-inc" target="_blank" data-smartkarma-citation="entities:11134:1" rel="noopener">Walmart (WMT US)</a> is now eligible for Nasdaq100 following its listing change from NYSE to Nasdaq on 9 December 2025, marking the largest exchange transfer in history.</li>
<li>The listing transfer was completed after the December 2025 annual review cut-off, so Nasdaq100 inclusion is anticipated by December 2026.</li>
<li>Forecasted passive fund demand upon inclusion is ~600m shares, $70bn and 25 ADV.</li>
</ul>



Walmart (WMT US) is now eligible for Nasdaq100 following its listing change from NYSE to Nasdaq on 9 December 2025, marking the largest exchange transfer in history.
The listing transfer was completed after the December 2025 annual review cut-off, so Nasdaq100 inclusion is anticipated by December 2026.
Forecasted passive fund demand upon inclusion is ~600m shares, $70bn and 25 ADV.


Walmart (WMT US): Unwrapping Nasdaq100 Inclusion Following Listing Transfer

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Walmart Inc.'s latest earnings call revealed a performance that mirrors both the robust growth and the challenges the company faces as it continues to evolve.</li><li>Walmart's consolidated revenue in constant currency increased by 6%, marking a significant growth driven largely by e-commerce, which saw a 27% surge in sales.</li><li>This climb reinforces Walmart's omnichannel model, highlighting the synergy between its physical stores and digital platforms.</li></ul>

Walmart Inc.'s latest earnings call revealed a performance that mirrors both the robust growth and the challenges the company faces as it continues to evolve.Walmart's consolidated revenue in constant currency increased by 6%, marking a significant growth driven largely by e-commerce, which saw a 27% surge in sales.This climb reinforces Walmart's omnichannel model, highlighting the synergy between its physical stores and digital platforms.

Walmart Is Going All-In on Health & Wellness—Is This the Next Breakout Growth Engine?

<ul><li>In a milestone that reflects how far it’s come, Walmart has officially switched its stock listing from the New York Stock Exchange to the Nasdaq.</li><li>While this may seem like a routine change, it symbolizes SOMETHING MUCH BIGGER: Walmart's full-circle transformation from a traditional brick-and-mortar giant to a tech-enabled retail powerhouse.</li><li>This shift comes after years of strategic investments in e-commerce, supply chain automation, artificial intelligence, digital advertising, and subscription services like Walmart+.</li></ul>

In a milestone that reflects how far it’s come, Walmart has officially switched its stock listing from the New York Stock Exchange to the Nasdaq.While this may seem like a routine change, it symbolizes SOMETHING MUCH BIGGER: Walmart's full-circle transformation from a traditional brick-and-mortar giant to a tech-enabled retail powerhouse.This shift comes after years of strategic investments in e-commerce, supply chain automation, artificial intelligence, digital advertising, and subscription services like Walmart+.

Walmart’s Big Switch to NASDAQ: A New Era Begins!

<ul><li>Walmart Inc.'s recent quarterly results show a complex blend of strengths and challenges, presenting a nuanced investment thesis.</li><li>The retail giant achieved a 5.6% increase in sales on a constant currency basis, driven by strong performance in e-commerce, which grew by 25% globally.</li><li>This increase exceeded expectations, particularly in Walmart U.S. and Sam's Club U.S., where e-commerce growth reached 26%.</li></ul>

Walmart Inc.'s recent quarterly results show a complex blend of strengths and challenges, presenting a nuanced investment thesis.The retail giant achieved a 5.6% increase in sales on a constant currency basis, driven by strong performance in e-commerce, which grew by 25% globally.This increase exceeded expectations, particularly in Walmart U.S. and Sam's Club U.S., where e-commerce growth reached 26%.

Walmart’s Doug McMillon Is Out—And the AI Era Is Just Beginning!

Walmart: High Inventory Levels & Tariffs Are Dampening This Retail Behemoth’s Attractiveness!

United States

Walmart Inc. operates discount stores, supercenters, and neighborhood markets. The Company offers merchandise such as apparel, house wares, small appliances, electronics, musical instruments, books, home improvement, shoes, jewelry, toddler, games, household essentials, pets, pharmaceutical products, party supplies, and automotive tools. Walmart serves customers worldwide.

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Walmart (WMT US)

Walmart (WMT US): Unwrapping Nasdaq100 Inclusion Following Listing Transfer

Walmart’s move from NYSE to Nasdaq positions it as the largest forecasted inclusion in Nasdaq100 for the December 2026 review, attracting...

Dimitris Ioannidis

Walmart Is Going All-In on Health & Wellness—Is This the Next Breakout Growth Engine?

Walmart Inc.'s latest earnings call revealed a performance that mirrors both the robust growth and the challenges the company faces as it...

Baptista Research

Walmart’s Big Switch to NASDAQ: A New Era Begins!

In a milestone that reflects how far it’s come, Walmart has officially switched its stock listing from the New York Stock Exchange to the...

Baptista Research

Walmart’s Doug McMillon Is Out—And the AI Era Is Just Beginning!

Walmart Inc.'s recent quarterly results show a complex blend of strengths and challenges, presenting a nuanced investment thesis. The retail giant...

Baptista Research

Walmart: High Inventory Levels & Tariffs Are Dampening This Retail Behemoth’s Attractiveness!

Walmart Inc.'s recent quarterly results show a complex blend of strengths and challenges, presenting a nuanced investment thesis. The retail giant...

Baptista Research

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