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/shopify-inc-de74469e-4678-489b-9b50-a80a5790c5ef" target="_blank" data-smartkarma-citation="entities:25906:1" rel="noopener">Shopify (SHOP US)</a> is eligible for Nasdaq100 following its listing transfer from NYSE to Nasdaq on 31 March. Inclusion is anticipated in December 2025 or earlier as a replacement.</li>
<li>
<a href="https://www.smartkarma.com/entities/shopify-inc-de74469e-4678-489b-9b50-a80a5790c5ef" target="_blank" data-smartkarma-citation="entities:25906:1" rel="noopener">Shopify (SHOP US)</a> is expected to be added to R1000 and Krisp Mega in June 2025 due to a new domestic 10-K filing which results in a US nationality assignment.</li>
<li>The company can be considered for TMI and S&amp;P500 only if it re-domiciles to US. New filings and US headquarters point towards that direction, but no plans have been announced.</li>
</ul>



Shopify (SHOP US) is eligible for Nasdaq100 following its listing transfer from NYSE to Nasdaq on 31 March. Inclusion is anticipated in December 2025 or earlier as a replacement.

Shopify (SHOP US) is expected to be added to R1000 and Krisp Mega in June 2025 due to a new domestic 10-K filing which results in a US nationality assignment.
The company can be considered for TMI and S&amp;P500 only if it re-domiciles to US. New filings and US headquarters point towards that direction, but no plans have been announced.


Shopify (SHOP US): Adds to Cart Nasdaq100, S&P500, R1000 and Krisp After US Listing & Filing Changes

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.</li>
<li>In this insight, we take a look at the upcoming constituent changes in the run up to the June 2025 index rebal event.</li>
<li>We expect two regular changes in June 2025. There are also multiple live spin-off and M&amp;A events which are likely to trigger intra-review index changes.</li>
</ul>


The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.
In this insight, we take a look at the upcoming constituent changes in the run up to the June 2025 index rebal event.
We expect two regular changes in June 2025. There are also multiple live spin-off and M&amp;A events which are likely to trigger intra-review index changes.


[Quiddity Index Mar25] S&P500/600 Jun25 Rebal: Early Days But a Few Intrareview Changes Possible

<ul>
<li>The company filed the required SEC filings right on the deadline of 25 February 2025, thus has avoided a Nasdaq delisting and consequently a deletion from s&amp;p500 and other indices.</li>
<li>The security continues to be a contender for Nasdaq-100 inclusion at the December 2025 annual review.</li>
<li>The stock is up ~21.7% pre-market following the SEC filings.</li>
</ul>


The company filed the required SEC filings right on the deadline of 25 February 2025, thus has avoided a Nasdaq delisting and consequently a deletion from s&amp;p500 and other indices.
The security continues to be a contender for Nasdaq-100 inclusion at the December 2025 annual review.
The stock is up ~21.7% pre-market following the SEC filings.


Super Micro Computer (SMCI US): Avoided Nasdaq Delisting & Targets Nasdaq100 Inclusion

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mongodb-inc" target="_blank" data-smartkarma-citation="entities:26655:1" rel="noopener">MongoDB (MDB US)</a> and <a href="https://www.smartkarma.com/entities/biogen-inc" target="_blank" data-smartkarma-citation="entities:972:1" rel="noopener">Biogen Inc (BIIB US)</a> are the main candidates for deletion based on their current and previous-review ranking.</li>
<li>
<a href="https://www.smartkarma.com/entities/ansys-inc" target="_blank" data-smartkarma-citation="entities:15473:1" rel="noopener">Ansys Inc (ANSS US)</a> is expected to be deleted from the index by June 2025 following its $35bn acquisition by <a href="https://www.smartkarma.com/entities/synopsys-inc" target="_blank" data-smartkarma-citation="entities:3493:1" rel="noopener">Synopsys Inc (SNPS US)</a>. </li>
<li>
<a href="https://www.smartkarma.com/entities/united-airlines-holdings-inc" target="_blank" data-smartkarma-citation="entities:15776:1" rel="noopener">United Airlines Holdings (UAL US)</a> and <a href="https://www.smartkarma.com/entities/alnylam-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:2191:1" rel="noopener">Alnylam Pharmaceuticals (ALNY US)</a> are <em>currently</em> the main candidates for addition, thus the first in line to replace <a href="https://www.smartkarma.com/entities/ansys-inc" target="_blank" data-smartkarma-citation="entities:15473:1" rel="noopener">Ansys Inc (ANSS US)</a>.</li>
</ul>



MongoDB (MDB US) and Biogen Inc (BIIB US) are the main candidates for deletion based on their current and previous-review ranking.

Ansys Inc (ANSS US) is expected to be deleted from the index by June 2025 following its $35bn acquisition by Synopsys Inc (SNPS US). 

United Airlines Holdings (UAL US) and Alnylam Pharmaceuticals (ALNY US) are currently the main candidates for addition, thus the first in line to replace Ansys Inc (ANSS US).


Nasdaq100 Dec2025 Forecast (Part 1): MDB & BIIB in Trouble; UAL & ALNY First Replacements

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>ANSYS presented its third-quarter 2023 results amidst significant external challenges, particularly concerning regulatory changes affecting its operations in China.</li><li>The U.S. Department of Commerce imposed additional restrictions and approval processes for certain ANSYS products and services sold to Chinese entities.</li><li>This development was detrimental to third-quarter expectations, leading to a shortfall in both Annual Contract Value (ACV) and revenue.</li></ul>

ANSYS presented its third-quarter 2023 results amidst significant external challenges, particularly concerning regulatory changes affecting its operations in China.The U.S. Department of Commerce imposed additional restrictions and approval processes for certain ANSYS products and services sold to Chinese entities.This development was detrimental to third-quarter expectations, leading to a shortfall in both Annual Contract Value (ACV) and revenue.

ANSYS Inc.: Growth in Automotive & Electrification As A Critical Growth Lever! - Major Drivers

United States

ANSYS, Inc. develops, markets, and supports software solutions for design analysis and optimization.  The Company's software accelerates product time to market, reduces production costs, improves engineering processes, and optimizes product quality and safety for a variety of manufactured products.  ANSYS's product family features open, flexible architecture for easy integration.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Ansys Inc (ANSS US)

Shopify (SHOP US): Adds to Cart Nasdaq100, S&P500, R1000 and Krisp After US Listing & Filing Changes

Following a rasel methodology update, Canada will be used as the country of headquarters resulting in a Canadian index nationality due to country...

Dimitris Ioannidis

[Quiddity Index Mar25] S&P500/600 Jun25 Rebal: Early Days But a Few Intrareview Changes Possible

The S&P500/400/600 rebalance for March is done as of Friday. The S&P rebalance for June now has a leaderboard. APP and CRH lead from outside the...

Travis Lundy

Super Micro Computer (SMCI US): Avoided Nasdaq Delisting & Targets Nasdaq100 Inclusion

SMCI avoids Nasdaq delisting and s&p500 deletion by filing SEC documents on the deadline. Stock is up ~21.7% pre-market and it has potential for...

Dimitris Ioannidis

Nasdaq100 Dec2025 Forecast (Part 1): MDB & BIIB in Trouble; UAL & ALNY First Replacements

Ansys (ANSS) is expected to be deleted from Nasdaq100 by June 2025 following its acquisition by Synopsys (SNPS). United Airlines (UAL) and Alnylam...

Dimitris Ioannidis

ANSYS Inc.: Growth in Automotive & Electrification As A Critical Growth Lever! - Major Drivers

ANSYS presented its third-quarter 2023 results amidst significant external challenges, particularly concerning regulatory changes affecting its...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Shopify (SHOP US): Adds to Cart Nasdaq100, S&P500, R1000 and Krisp After US Listing & Filing Changes

Following a rasel methodology update, Canada will be used as the country of headquarters resulting in a Canadian index nationality due to country...

Dimitris Ioannidis

[Quiddity Index Mar25] S&P500/600 Jun25 Rebal: Early Days But a Few Intrareview Changes Possible

The S&P500/400/600 rebalance for March is done as of Friday. The S&P rebalance for June now has a leaderboard. APP and CRH lead from outside the...

Travis Lundy

Super Micro Computer (SMCI US): Avoided Nasdaq Delisting & Targets Nasdaq100 Inclusion

​SMCI avoids Nasdaq delisting and s&p500 deletion by filing SEC documents on the deadline. Stock is up ~21.7% pre-market and it has potential for...

Dimitris Ioannidis

Nasdaq100 Dec2025 Forecast (Part 1): MDB & BIIB in Trouble; UAL & ALNY First Replacements

Ansys (ANSS) is expected to be deleted from Nasdaq100 by June 2025 following its acquisition by Synopsys (SNPS). United Airlines (UAL) and Alnylam...

Dimitris Ioannidis

ANSYS Inc.: Growth in Automotive & Electrification As A Critical Growth Lever! - Major Drivers

ANSYS presented its third-quarter 2023 results amidst significant external challenges, particularly concerning regulatory changes affecting its...

Baptista Research

SMCI avoids Nasdaq delisting and s&p500 deletion by filing SEC documents on the deadline. Stock is up ~21.7% pre-market and it has potential for...