US-EU Index Rebalances / Quantitative Researcher

Dimitris Ioannidis

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/the-schiehallion-fund-limited" target="_blank" data-smartkarma-citation="entities:46402:1" rel="noopener">Schiehallion Fund (MNTN LN)</a> is the flagship forecasted addition at the March 2026 review following its listing transfer to the LSE Main Market.</li>
<li>
<a href="https://www.smartkarma.com/entities/ashtead-group-plc" target="_blank" data-smartkarma-citation="entities:21806:1" rel="noopener">Ashtead (AHT LN)</a> is expected to experience significant supply from UK index funds in February and demand from US in June following its corporate &amp; listing structure change.</li>
<li>
<a href="https://www.smartkarma.com/entities/tritax-big-box-reit-plc" target="_blank" data-smartkarma-citation="entities:21830:1" rel="noopener">Tritax Big Box Reit (BBOX LN)</a> and <a href="https://www.smartkarma.com/entities/ig-group-holdings-plc" target="_blank" data-smartkarma-citation="entities:21989:1" rel="noopener">Ig Group Holdings (IGG LN)</a> are the main candidates to replace <a href="https://www.smartkarma.com/entities/ashtead-group-plc" target="_blank" data-smartkarma-citation="entities:21806:1" rel="noopener">Ashtead (AHT LN)</a> and be added to F100 at the review.</li>
</ul>



Schiehallion Fund (MNTN LN) is the flagship forecasted addition at the March 2026 review following its listing transfer to the LSE Main Market.

Ashtead (AHT LN) is expected to experience significant supply from UK index funds in February and demand from US in June following its corporate &amp; listing structure change.

Tritax Big Box Reit (BBOX LN) and Ig Group Holdings (IGG LN) are the main candidates to replace Ashtead (AHT LN) and be added to F100 at the review.


UK Index Forecasts - Mar26: Schiehallion Fund Headlines F250; Ashtead Moves to US

Index Rebalance and Special Situations, Quiddity Advisors

Afridi Reyal

Index Rebalance and Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>The SE600 index is one of the most widely followed benchmark indices in Europe. This index is rebalanced on a quarterly basis.</li>
<li>Based on the latest rankings, we see nine regular index changes for the March 2026 rebalance.</li>
<li>The final rankings are based on float market caps at close on 27 February 2026.</li>
</ul>


The SE600 index is one of the most widely followed benchmark indices in Europe. This index is rebalanced on a quarterly basis.
Based on the latest rankings, we see nine regular index changes for the March 2026 rebalance.
The final rankings are based on float market caps at close on 27 February 2026.


Quiddity Leaderboard SE600 Mar26: 9 ADDs/DELs Likely; Base Date Next Week

<ul>
<li>The SE600 index is one of the most widely-followed benchmark indices in Europe. This index is rebalanced on a quarterly basis.</li>
<li>In this insight, we take a look at the potential index changes for the SE600 and EURSTX Indices for the March 2026 rebalance.</li>
<li>We expect about eight changes during the March 2026 review.</li>
</ul>


The SE600 index is one of the most widely-followed benchmark indices in Europe. This index is rebalanced on a quarterly basis.
In this insight, we take a look at the potential index changes for the SE600 and EURSTX Indices for the March 2026 rebalance.
We expect about eight changes during the March 2026 review.


Quiddity Leaderboard SE600 Mar26: CSG IPO Question; 8 ADDs/DELs As Things Stand

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
  <li>
<a href="https://smartkarma.com/entities/ashtead-group-plc">Ashtead</a> is a dominant player in the North American equipment rental market, poised to benefit from long-term structural growth trends, including the shift from equipment ownership to rental and significant infrastructure spending.</li>
  <li>The company's 'Sunbelt 4.0' strategy is focused on driving growth through market share gains in its general tool business, expanding its higher-margin specialty rental offerings, and leveraging technology to enhance operational efficiency and customer experience.</li>
  <li>While facing cyclical risks tied to the construction and industrial sectors, <a href="https://smartkarma.com/entities/ashtead-group-plc">Ashtead</a>'s diversified end-markets, strong cash flow generation, and disciplined capital allocation provide resilience and support continued investment in growth and shareholder returns.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  
Ashtead is a dominant player in the North American equipment rental market, poised to benefit from long-term structural growth trends, including the shift from equipment ownership to rental and significant infrastructure spending.
  The company's 'Sunbelt 4.0' strategy is focused on driving growth through market share gains in its general tool business, expanding its higher-margin specialty rental offerings, and leveraging technology to enhance operational efficiency and customer experience.
  While facing cyclical risks tied to the construction and industrial sectors, Ashtead's diversified end-markets, strong cash flow generation, and disciplined capital allocation provide resilience and support continued investment in growth and shareholder returns.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

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.

<ul>
<li>Ashtead Group plc reported a solid set of third-quarter results marked by a stable performance amid varying market conditions.</li>
<li>The company experienced a 5% year-on-year increase in both group and U.S. rental revenues, with total revenues remaining flat due to anticipated lower used equipment sales.</li>
<li>The company achieved a record EBITDA of $3.9 billion and a profit before tax (PBT) of $1.7 billion.</li>
</ul>


Ashtead Group plc reported a solid set of third-quarter results marked by a stable performance amid varying market conditions.
The company experienced a 5% year-on-year increase in both group and U.S. rental revenues, with total revenues remaining flat due to anticipated lower used equipment sales.
The company achieved a record EBITDA of $3.9 billion and a profit before tax (PBT) of $1.7 billion.


AHT LN - Why This Capital-Efficient Powerhouse Is Pushing Hard For Specialty and Mega Projects?

United Kingdom

Ashtead Group plc is a leading international equipment rental company operating primarily under the Sunbelt Rentals brand in North America and the UK. It provides a comprehensive range of construction and industrial equipment, from small hand tools to large machinery, for various applications including commercial construction, infrastructure, and event management. The company is headquartered in London, England, and was founded in 1947.

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Ashtead Group (AHT LN)

UK Index Forecasts - Mar26: Schiehallion Fund Headlines F250; Ashtead Moves to US

AHT was removed from F100 and saw passive fund supply of ~29m shares, $2bn, 16 ADV at the close on 27 February. BBOX replaced AHT in F100, and COST...

Dimitris Ioannidis

Quiddity Leaderboard SE600 Mar26: 9 ADDs/DELs Likely; Base Date Next Week

We expect nine regular index changes in March 2026. All expected changes have small stand-alone flow sizes. The final changes will be based on...

Afridi Reyal

Quiddity Leaderboard SE600 Mar26: CSG IPO Question; 8 ADDs/DELs As Things Stand

The upcoming March 2026 rebalance of the SE600 is expected to bring about eight changes with the possible inclusion of CSG.

Afridi Reyal

Primer: Ashtead (AHT LN) - Sep 2025

Ashtead is a dominant player in the North American equipment rental market, poised to benefit from long-term structural growth trends,...

αSK Primers

AHT LN - Why This Capital-Efficient Powerhouse Is Pushing Hard For Specialty and Mega Projects?

The company experienced a 5% year-on-year increase in both group and U.S. rental revenues, with total revenues remaining flat due to anticipated...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

UK Index Forecasts - Mar26: Schiehallion Fund Headlines F250; Ashtead Moves to US

AHT was removed from F100 and saw passive fund supply of ~29m shares, $2bn, 16 ADV at the close on 27 February. BBOX replaced AHT in F100, and COST...

Dimitris Ioannidis

Quiddity Leaderboard SE600 Mar26: 9 ADDs/DELs Likely; Base Date Next Week

We expect nine regular index changes in March 2026. All expected changes have small stand-alone flow sizes. The final changes will be based on...

Afridi Reyal

Quiddity Leaderboard SE600 Mar26: CSG IPO Question; 8 ADDs/DELs As Things Stand

​The upcoming March 2026 rebalance of the SE600 is expected to bring about eight changes with the possible inclusion of CSG.

Afridi Reyal

Primer: Ashtead (AHT LN) - Sep 2025

Ashtead is a dominant player in the North American equipment rental market, poised to benefit from long-term structural growth trends,...

αSK Primers

AHT LN - Why This Capital-Efficient Powerhouse Is Pushing Hard For Specialty and Mega Projects?

The company experienced a 5% year-on-year increase in both group and U.S. rental revenues, with total revenues remaining flat due to anticipated...

Baptista Research

The upcoming March 2026 rebalance of the SE600 is expected to bring about eight changes with the possible inclusion of CSG.