Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>The SP 500 Index (you can guess) 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 December 2025 index rebal event.</li>
<li>We expect two <em>regular</em> changes in December 2025. There are also <em>multiple live M&amp;A events which are likely to trigger intra-review index changes</em>.</li>
</ul>


The SP 500 Index (you can guess) 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 December 2025 index rebal event.
We expect two regular changes in December 2025. There are also multiple live M&amp;A events which are likely to trigger intra-review index changes.


[Quiddity Index] SP500/600 Dec25 Rebal: One Name (Always Bridesmaid Never the Bride) Stands Out

Providing investors with a balanced perspective, Massif Capital

Massif Capital Research

Providing investors with a balanced perspective

Massif Capital

Research focused on providing investors with a balanced perspective on the environmental and economic realities of achieving a carbon-neutral economy for businesses within the Energy, Basic Materials and Industrial industries.

The Massif Capital Real Asset Strategy is a global long/short equity strategy built around bottom-up stock picking. We are focused on creating a portfolio of businesses from within the Energy, Basic Materials and Industrial sectors that balance the environmental and economic realities of achieving a carbon-neutral economy.

Thematic (Sector/Industry)

<div><p>This is the first edition of the Real Asset Chartbook.</p><p>This document arose from an internal need at Massif Capital to consolidate and streamline our process of monitoring liquid real asset markets. It remains a work in progress but is extremely useful in its present state. </p></div><div><p>The Chartbook will be released weekly, on Fridays, after the market closes.</p></div>

This is the first edition of the Real Asset Chartbook.This document arose from an internal need at Massif Capital to consolidate and streamline our process of monitoring liquid real asset markets. It remains a work in progress but is extremely useful in its present state. The Chartbook will be released weekly, on Fridays, after the market closes.

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

<ul>
<li>We identify key Taiwan-based Apple suppliers that have underperformed recently, and highlight which suppliers' revenue growth will outpace Apple in 2025E.</li>
<li>Rise of India -- Latest Apple data shows massive iPhone production growth in the country.</li>
<li>Apple's next-generation M5 chip will continue using TSMC's 3nm node, launching 2H25E; Supports that TSMC's 3nm process is expected to maintain strong demand even with the arrival of 2nm.</li>
</ul>


We identify key Taiwan-based Apple suppliers that have underperformed recently, and highlight which suppliers' revenue growth will outpace Apple in 2025E.
Rise of India -- Latest Apple data shows massive iPhone production growth in the country.
Apple's next-generation M5 chip will continue using TSMC's 3nm node, launching 2H25E; Supports that TSMC's 3nm process is expected to maintain strong demand even with the arrival of 2nm.


Apple Supply Chain Monitor: Laggards to Outgrow Apple in 2025E; India's IPhone Surge; New IMacs W/AI

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

<ul><li>Dupont's three-way spin is expected to narrow the conglomerate discount and potentially increase share value by 35% to around $110 per share</li><li>The company, a global specialty chemicals company with $12.1 billion in revenue, aims to position itself as a diversified industrial conglomerate</li><li>Through strategic moves like merging its nutrition sciences business and selling non-core businesses, Dupont seeks to enhance shareholder value and increase competitiveness</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Dupont's three-way spin is expected to narrow the conglomerate discount and potentially increase share value by 35% to around $110 per shareThe company, a global specialty chemicals company with $12.1 billion in revenue, aims to position itself as a diversified industrial conglomerateThrough strategic moves like merging its nutrition sciences business and selling non-core businesses, Dupont seeks to enhance shareholder value and increase competitivenessThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Dupont De Nemours Inc (DD) - Monday, May 27, 2024

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>DuPont's second quarter 2024 earnings reflected a strong recovery trajectory, with CEO Lori Koch and CFO Antonella Franzen outlining improvements across key performance metrics.</li><li>The company reported revenue and earnings that surpassed previous guidance, buoyed by a broad-based electronics recovery and gains in the Water and Protection (W&P) business.</li><li>On the financial front, DuPont registered an increase in net sales by 2% compared to the previous year, totaling $3.2 billion.</li></ul>

DuPont's second quarter 2024 earnings reflected a strong recovery trajectory, with CEO Lori Koch and CFO Antonella Franzen outlining improvements across key performance metrics.The company reported revenue and earnings that surpassed previous guidance, buoyed by a broad-based electronics recovery and gains in the Water and Protection (W&P) business.On the financial front, DuPont registered an increase in net sales by 2% compared to the previous year, totaling $3.2 billion.

DuPont de Nemours Inc.: Enhanced E&I Growth from AI Integration and Advanced Nodes! - Major Drivers

United States

DuPont de Nemours, Inc. operates as a chemical company. The Company offers elastomeric photopolymer printing plates, structural and elastic adhesives, fluids, reinforcing composites, foams, coatings, rubber and elastomers, topical ingredients, food ingredients, animal nutrition, biomaterials, water purification technologies, and fibers.

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DuPont (DD US)

[Quiddity Index] SP500/600 Dec25 Rebal: One Name (Always Bridesmaid Never the Bride) Stands Out

The S&P500 should have 2 ADDs + 2 DELs in Dec25 at this point. There are multiple possible intra-review M&A changes as well, which could reduce...

Travis Lundy

Real Asset Chartbook: The First Edition

This is the first edition of the Real Asset Chartbook. This document arose from an internal need at Massif Capital to consolidate and streamline...

Massif Capital Research

Apple Supply Chain Monitor: Laggards to Outgrow Apple in 2025E; India's IPhone Surge; New IMacs W/AI

Underperforming suppliers expect revenue growth surpassing Apple in 2025E; India sees massive iPhone production growth; Apple's M5 chip...

Vincent Fernando, CFA

Dupont De Nemours Inc (DD) - Monday, May 27, 2024

Dupont's three-way spin is expected to narrow the conglomerate discount and potentially increase share value by 35% to around $110 per share

Value Investors Club (VIC)

DuPont de Nemours Inc.: Enhanced E&I Growth from AI Integration and Advanced Nodes! - Major Drivers

DuPont's second quarter 2024 earnings reflected a strong recovery trajectory, with CEO Lori Koch and CFO Antonella Franzen outlining improvements...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Quiddity Index] SP500/600 Dec25 Rebal: One Name (Always Bridesmaid Never the Bride) Stands Out

The S&P500 should have 2 ADDs + 2 DELs in Dec25 at this point. There are multiple possible intra-review M&A changes as well, which could reduce...

Travis Lundy

Real Asset Chartbook: The First Edition

This is the first edition of the Real Asset Chartbook. This document arose from an internal need at Massif Capital to consolidate and streamline...

Massif Capital Research

Apple Supply Chain Monitor: Laggards to Outgrow Apple in 2025E; India's IPhone Surge; New IMacs W/AI

​Underperforming suppliers expect revenue growth surpassing Apple in 2025E; India sees massive iPhone production growth; Apple's M5 chip...

Vincent Fernando, CFA

Dupont De Nemours Inc (DD) - Monday, May 27, 2024

Dupont's three-way spin is expected to narrow the conglomerate discount and potentially increase share value by 35% to around $110 per share

Value Investors Club (VIC)

DuPont de Nemours Inc.: Enhanced E&I Growth from AI Integration and Advanced Nodes! - Major Drivers

DuPont's second quarter 2024 earnings reflected a strong recovery trajectory, with CEO Lori Koch and CFO Antonella Franzen outlining improvements...

Baptista Research

Underperforming suppliers expect revenue growth surpassing Apple in 2025E; India sees massive iPhone production growth; Apple's M5 chip...