Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>As discussed in <a href="https://www.smartkarma.com/insights/japan-m-a-denso-6902-reportedly-made-a-1-3trln-takeover-proposal-to-rohm-6963-light-iffy" target="_blank" data-smartkarma-citation="insights:225967" rel="noopener">[Japan M&amp;A] Denso (6902) Reportedly Made a ¥1.3trln Takeover Proposal to Rohm (6963). Light &amp; Iffy.</a>, the question is not Denso's desire but Rohm's willingness. </li>
<li>Denso may have a problem paying the right price to get Rohm, but Rohm may simply not wnat to be got. And I discussed the Toshiba angle. </li>
<li>Today the Nikkei reveals that Rohm and Toshiba are considering integrating their power semiconductor businesses. This is NOT a surprise. But it may feel like it. </li>
</ul>


As discussed in [Japan M&amp;A] Denso (6902) Reportedly Made a ¥1.3trln Takeover Proposal to Rohm (6963). Light &amp; Iffy., the question is not Denso's desire but Rohm's willingness. 
Denso may have a problem paying the right price to get Rohm, but Rohm may simply not wnat to be got. And I discussed the Toshiba angle. 
Today the Nikkei reveals that Rohm and Toshiba are considering integrating their power semiconductor businesses. This is NOT a surprise. But it may feel like it. 


[Japan M&A] Now Rohm (6963) And Toshiba Mulling Power Semis Integration, Thwarting Denso?

Index Rebalance and Special Situations Coverage, Quiddity Advisors

Anjana Amarasuriya

Index Rebalance and Special Situations Coverage

Index Rebalance

<ul>
<li>The ADDs/DELs for SP500, SP MidCap400, and SP SmallCap600 indices for the March 2026 index rebal event were announced after market close on Friday 6 March 2026. </li>
<li>There are 4 ADD/DELs for the SP 500, all of which will also be added to and deleted from the SP 500 Equal Weight and their corresponding Select Sector indices.</li>
<li>In this insight, we take a look at our final flow expectations for each of these confirmed index changes. We see $26bn of flows, one-way.</li>
</ul>


The ADDs/DELs for SP500, SP MidCap400, and SP SmallCap600 indices for the March 2026 index rebal event were announced after market close on Friday 6 March 2026. 
There are 4 ADD/DELs for the SP 500, all of which will also be added to and deleted from the SP 500 Equal Weight and their corresponding Select Sector indices.
In this insight, we take a look at our final flow expectations for each of these confirmed index changes. We see $26bn of flows, one-way.


Quiddity SP 500 Mar26 Results: Over US$26bn Total One-Way Flows

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.

<ul>
<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> and <a href="https://www.smartkarma.com/entities/coherent-corp" target="_blank" data-smartkarma-citation="entities:9518:1" rel="noopener">Coherent (COHR US)</a> are the main candidates for addition, based on high eligibility scores.</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> and <a href="https://www.smartkarma.com/entities/lumentum-holdings-inc" target="_blank" data-smartkarma-citation="entities:12529:1" rel="noopener">Lumentum Holdings (LITE US)</a> face reduced conviction due to tech-sector balance.</li>
<li>
<a href="https://www.smartkarma.com/entities/echostar-corp-a" target="_blank" data-smartkarma-citation="entities:3225:1" rel="noopener">Echostar Corp A (SATS US)</a> faces reduced conviction because of earnings and float cap.</li>
</ul>



Vertiv Holdings Co (VRT US) and Coherent (COHR US) are the main candidates for addition, based on high eligibility scores.

Marvell Technology (MRVL US) and Lumentum Holdings (LITE US) face reduced conviction due to tech-sector balance.

Echostar Corp A (SATS US) faces reduced conviction because of earnings and float cap.


S&P500 March 2026 Forecast: VRT, COHR & SATS Leading the Pack

<ul>
<li>The SP 500 index tracks the 500 largest US-listed names and is one of the most highly-tracked indices in the world.</li>
<li>The rankings used for the March 2026 index rebal event will be based on yesterday's (4th March 2026) opening prices. The announcement will be made 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 few quarters).</li>
</ul>


The SP 500 index tracks the 500 largest US-listed names and is one of the most highly-tracked indices in the world.
The rankings used for the March 2026 index rebal event will be based on yesterday's (4th March 2026) opening prices. The announcement will be made 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 few quarters).


Quiddity Leaderboard SP500/600 Mar26 Rebal: Final Expectations

<ul>
<li>The SP 500 index tracks the 500 largest US-listed names and is one of the most highly-tracked indices in the world. </li>
<li>We expect two changes during the March 2026 regular rebalance. One intra-review index change is possible but unlikely before the regular rebalance is announced.</li>
<li>One name stands out as more interesting than the others.</li>
</ul>


The SP 500 index tracks the 500 largest US-listed names and is one of the most highly-tracked indices in the world. 
We expect two changes during the March 2026 regular rebalance. One intra-review index change is possible but unlikely before the regular rebalance is announced.
One name stands out as more interesting than the others.


Quiddity Leaderboard SP500/600 Mar26 Rebal: Base Date Is Less Than A Month Away

United States

Coherent Corp. designs engineered materials and optoelectronic components. The Company offers products to industrial, optical communications, military, life sciences, semiconductor equipment, and consumer markets. Coherent also manufactures semiconductor lasers and optics for high power industrial lasers, optical communications systems, datacenter connectivity, and 3D sensing.

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Coherent (COHR US)

[Japan M&A] Now Rohm (6963) And Toshiba Mulling Power Semis Integration, Thwarting Denso?

A Rohm-Toshiba story about integrating their power semiconductor businesses may not be an effort to thwart Denso's approach to Rohm, but it may...

Travis Lundy

Quiddity SP 500 Mar26 Results: Over US$26bn Total One-Way Flows

The SP500/400/600 review results for March 2026 were announced Friday. We got 2 of the four SP500 ADDs correct (our model defaults to two changes)...

Anjana Amarasuriya

S&P500 March 2026 Forecast: VRT, COHR & SATS Leading the Pack

Announced additions: VRT, COHR, SATS and LITE. Following the announcement, all four are trading higher in after hours by 5.2%, 0.7%, 3.2%, and...

Dimitris Ioannidis

Quiddity Leaderboard SP500/600 Mar26 Rebal: Final Expectations

Final expectations are presented for the S&P500 March 2026 rebalance, with SP 600 DELETEs also presented, which we think represent good trade ideas...

Anjana Amarasuriya

Quiddity Leaderboard SP500/600 Mar26 Rebal: Base Date Is Less Than A Month Away

The base date is approaching next week and this is a good time to revisit the insight. Lamb Weston has replaced Molina Healthcare in our top...

Anjana Amarasuriya

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