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/microstrategy-inc-cl-a" target="_blank" data-smartkarma-citation="entities:14717:1" rel="noopener">Microstrategy Inc Cl A (MSTR US)</a> became eligible for inclusion in S&amp;P500 following its quarterly earnings of $10bn on 31 July.</li>
<li>
<a href="https://www.smartkarma.com/entities/robinhood-markets-inc" target="_blank" data-smartkarma-citation="entities:33532:1" rel="noopener">Robinhood Markets (HOOD US)</a>, <a href="https://www.smartkarma.com/entities/microstrategy-inc-cl-a" target="_blank" data-smartkarma-citation="entities:14717:1" rel="noopener">Microstrategy Inc Cl A (MSTR US)</a>, and <a href="https://www.smartkarma.com/entities/applovin-corp" target="_blank" data-smartkarma-citation="entities:32989:1" rel="noopener">AppLovin (APP US)</a> are the main candidates for addition from TMI at the September 2025 review.</li>
<li>
<a href="https://www.smartkarma.com/entities/interactive-brokers-group-inc" target="_blank" data-smartkarma-citation="entities:13335:1" rel="noopener">Interactive Brokers Group, Inc (IBKR US)</a> and <a href="https://www.smartkarma.com/entities/emcor-group-inc" target="_blank" data-smartkarma-citation="entities:20703:1" rel="noopener">Emcor Group Inc (EME US)</a> are the main candidates for addition from MidCap at the September 2025 review.</li>
</ul>



Microstrategy Inc Cl A (MSTR US) became eligible for inclusion in S&amp;P500 following its quarterly earnings of $10bn on 31 July.

Robinhood Markets (HOOD US), Microstrategy Inc Cl A (MSTR US), and AppLovin (APP US) are the main candidates for addition from TMI at the September 2025 review.

Interactive Brokers Group, Inc (IBKR US) and Emcor Group Inc (EME US) are the main candidates for addition from MidCap at the September 2025 review.


S&P500 September 2025 Initial Forecast: MicroStrategy (MSTR) Emerges Post-Earnings

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Interactive Brokers Group, Inc / Index Rebalance

<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 September 2025 index rebal event.</li>
<li>We expect two regular changes in September 2025. There are also multiple live 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 September 2025 index rebal event.
We expect two regular changes in September 2025. There are also multiple live M&amp;A events which are likely to trigger intra-review index changes.


[Quiddity Index] S&P500/600 Sep25 Rebal: Multiple Intra-Review Changes Possible

<ul>
<li>
<a href="https://www.smartkarma.com/entities/interactive-brokers-group-inc" target="_blank" data-smartkarma-citation="entities:13335:1" rel="noopener">Interactive Brokers (IBKR US),</a><a href="https://www.smartkarma.com/entities/duolingo-inc" target="_blank" data-smartkarma-citation="entities:33531:1" rel="noopener">Duolingo (DUOL US)</a> and <a href="https://www.smartkarma.com/entities/emcor-group-inc" target="_blank" data-smartkarma-citation="entities:20703:1" rel="noopener">EMCOR (EME US)</a> are the main candidates for addition at review to replace <a href="https://www.smartkarma.com/entities/enphase-energy-inc" target="_blank" data-smartkarma-citation="entities:8872:1" rel="noopener">Enphase Energy (ENPH US)</a> and <a href="https://www.smartkarma.com/entities/caesars-entertainment-corp" target="_blank" data-smartkarma-citation="entities:15532:1" rel="noopener">Caesars Entertainment (CZR US)</a>. </li>
<li>
<a href="https://www.smartkarma.com/entities/cheniere-energy-inc" target="_blank" data-smartkarma-citation="entities:16683:1" rel="noopener">Cheniere Energy (LNG US)</a> and <a href="https://www.smartkarma.com/entities/applovin-corp" target="_blank" data-smartkarma-citation="entities:32989:1" rel="noopener">AppLovin (APP US)</a> are the main candidates for the replacement of the acquisition of <a href="https://www.smartkarma.com/entities/ansys-inc" target="_blank" data-smartkarma-citation="entities:15473:1" rel="noopener">Ansys (ANSS US)</a> which is anticipated end of June.</li>
<li>There is a possibility of zero S&amp;P500 changes at the review due to candidates scoring low in market cap and sector balance.</li>
</ul>



Interactive Brokers (IBKR US),Duolingo (DUOL US) and EMCOR (EME US) are the main candidates for addition at review to replace Enphase Energy (ENPH US) and Caesars Entertainment (CZR US). 

Cheniere Energy (LNG US) and AppLovin (APP US) are the main candidates for the replacement of the acquisition of Ansys (ANSS US) which is anticipated end of June.
There is a possibility of zero S&amp;P500 changes at the review due to candidates scoring low in market cap and sector balance.


S&P500 June 2025 Review Forecast: Weak but Interactive, Time for Duolingo?

<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>The rankings used for the June 2025 index rebal event will be based on yesterday's (4th June 2025) opening prices. The announcement will be after the close on Friday.</li>
<li>In this insight, we take a look at our final expectations for ADDs/DELs (along with a tracker of all live spinoff/M&amp;A events which affect the index the next two quarters).</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.
The rankings used for the June 2025 index rebal event will be based on yesterday's (4th June 2025) opening prices. The announcement will be after the close on Friday.
In this insight, we take a look at our final expectations for ADDs/DELs (along with a tracker of all live spinoff/M&amp;A events which affect the index the next two quarters).


[Quiddity Index Jun25] S&P500/600 Jun25 Rebal: Final Predictions APP and IBKR

<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 may trigger intra-review index changes near-term. Check the Leaderboards for those.</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 may trigger intra-review index changes near-term. Check the Leaderboards for those.


[Quiddity Index May25] S&P500/600 Jun25 Rebal: Lots of Intraview Changes Still Possible

United States

Caesars Entertainment Corp., is a gaming company. The Company operates casino resorts on multiple continents. Caesars' also owns an on-line gaming business, providing for real money casino, bingo and poker games in the United Kingdom and play for fun offerings in other jurisdictions.

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Caesars Entertainment (CZR US)

S&P500 September 2025 Initial Forecast: MicroStrategy (MSTR) Emerges Post-Earnings

MSTR is now eligible for S&P500 inclusion after reporting $10bn in Q2 earnings on July 31, joining HOOD, IBKR, EME and APP among the top candidates...

Dimitris Ioannidis

[Quiddity Index] S&P500/600 Sep25 Rebal: Multiple Intra-Review Changes Possible

There are a number of intra-review events (before the Sep rebal) which will likely prompt changes, possibly shrinking the existing pool of likely...

Travis Lundy

S&P500 June 2025 Review Forecast: Weak but Interactive, Time for Duolingo?

No index changes materialized, and the candidates are weak indeed. Nonetheless, I still expected eligible midcap constituents to replace CZR and/or...

Dimitris Ioannidis

[Quiddity Index Jun25] S&P500/600 Jun25 Rebal: Final Predictions APP and IBKR

The S&P500 June rebal comes after the close on Friday 6 June. We expect two ADDs and two DELETEs but the S&P Index Committee is fickle...

Travis Lundy

[Quiddity Index May25] S&P500/600 Jun25 Rebal: Lots of Intraview Changes Still Possible

The S&P500 has a couple of possible changes at the regular rebalance and more intra-review changes after. That means S&P600 DELs. We like those...

Travis Lundy

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