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 regular changes in December 2025. There are also multiple live M&amp;A events which are likely to trigger intra-review index changes.</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

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>Pure Storage is a leading provider of all-flash data storage solutions, well-positioned to capitalize on favorable secular trends such as the exponential growth of data, the increasing adoption of AI and big data analytics, and the shift towards cloud and hybrid-cloud environments.</li>
 <li>The company's subscription-based revenue model, particularly its Evergreen Storage program, provides a recurring and predictable revenue stream, enhances customer retention, and reduces the volatility associated with hardware sales cycles.</li>
 <li>While facing intense competition from established players and the risks of rapid technological change, Pure Storage's focus on innovation, simplicity, and energy-efficient solutions provides a strong competitive advantage.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  Pure Storage is a leading provider of all-flash data storage solutions, well-positioned to capitalize on favorable secular trends such as the exponential growth of data, the increasing adoption of AI and big data analytics, and the shift towards cloud and hybrid-cloud environments.
  The company's subscription-based revenue model, particularly its Evergreen Storage program, provides a recurring and predictable revenue stream, enhances customer retention, and reduces the volatility associated with hardware sales cycles.
  While facing intense competition from established players and the risks of rapid technological change, Pure Storage's focus on innovation, simplicity, and energy-efficient solutions provides a strong competitive advantage.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Pure Storage Inc (PSTG US) - Sep 2025

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/doordash-inc" target="_blank" data-smartkarma-citation="entities:28881:1" rel="noopener">DoorDash (DASH US)</a> recently became eligible for addition to S&amp;P500 following the company's <a href="https://ir.doordash.com/news/news-details/2025/DoorDash-Releases-Fourth-Quarter-and-Full-Year-2024-Financial-Results/default.aspx" target="_blank" rel="noopener">positive earnings announcement</a> on 11 February 2025.</li>
<li>
<a href="https://www.smartkarma.com/entities/applovin-corp" target="_blank" data-smartkarma-citation="entities:32989:1" rel="noopener">AppLovin (APP US)</a>, <a href="https://www.smartkarma.com/entities/doordash-inc" target="_blank" data-smartkarma-citation="entities:28881:1" rel="noopener">DoorDash (DASH US)</a>, and <a href="https://www.smartkarma.com/entities/coinbase-global-inc" target="_blank" data-smartkarma-citation="entities:32227:1" rel="noopener">Coinbase Global (COIN US)</a> are the main addition by transition candidates. APP is number one due to significant long-term mcap score.</li>
<li>
<a href="https://www.smartkarma.com/entities/williams-sonoma-inc" target="_blank" data-smartkarma-citation="entities:11383:1" rel="noopener">Williams Sonoma (WSM US)</a> is the main addition by migration candidate and the expected addition by replacement if <a href="https://www.smartkarma.com/entities/capital-one-financial-corp" target="_blank" data-smartkarma-citation="entities:255:1" rel="noopener">Capital One's</a> acquisition is completed prior to the March review.</li>
</ul>



DoorDash (DASH US) recently became eligible for addition to S&amp;P500 following the company's positive earnings announcement on 11 February 2025.

AppLovin (APP US), DoorDash (DASH US), and Coinbase Global (COIN US) are the main addition by transition candidates. APP is number one due to significant long-term mcap score.

Williams Sonoma (WSM US) is the main addition by migration candidate and the expected addition by replacement if Capital One's acquisition is completed prior to the March review.


Event-Driven

Erie Indemnity Company Cl A / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dell-technologies-inc" target="_blank" data-smartkarma-citation="entities:32189:1" rel="noopener">Dell Technologies (DELL US)</a> is the main addition by transition candidate with a reduced probability due to no longer passing the S&amp;P 500 transition threshold.</li>
<li>
<a href="https://www.smartkarma.com/entities/erie-indemnity-co" target="_blank" data-smartkarma-citation="entities:4804:1" rel="noopener">Erie Indemnity (ERIE US)</a> and <a href="https://www.smartkarma.com/entities/lennox-international-inc" target="_blank" data-smartkarma-citation="entities:16420:1" rel="noopener">Lennox International (LII US)</a> are the main addition by migration candidates with an increased probability due to weak transition candidates.</li>
<li>Addition by migration candidates have more inconsistent selection patterns. Other addition candidates include <a href="https://www.smartkarma.com/entities/texas-pacific-land-corp" target="_blank" data-smartkarma-citation="entities:28693:1" rel="noopener">Texas Pacific Land (TPL US)</a>, <a href="https://www.smartkarma.com/entities/carlisle-cos-inc" target="_blank" data-smartkarma-citation="entities:7929:1" rel="noopener">Carlisle Cos (CSL US)</a> and <a href="https://www.smartkarma.com/entities/dick-s-sporting-goods-inc" target="_blank" data-smartkarma-citation="entities:1675:1" rel="noopener">Dick's Sporting Goods (DKS US)</a> .</li>
</ul>



Dell Technologies (DELL US) is the main addition by transition candidate with a reduced probability due to no longer passing the S&amp;P 500 transition threshold.

Erie Indemnity (ERIE US) and Lennox International (LII US) are the main addition by migration candidates with an increased probability due to weak transition candidates.
Addition by migration candidates have more inconsistent selection patterns. Other addition candidates include Texas Pacific Land (TPL US), Carlisle Cos (CSL US) and Dick's Sporting Goods (DKS US) .


S&P 500 September 2024 Forecasts: Dull for DELL. Brighter for ERIE, LII and TPL

<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 2024 index rebal event.</li>
<li>We expect two regular changes in September 2024. There are also several live M&amp;A events which could trigger intra-review index changes in the late-2024/early-2025.</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 2024 index rebal event.
We expect two regular changes in September 2024. There are also several live M&amp;A events which could trigger intra-review index changes in the late-2024/early-2025.


Quiddity Leaderboard S&P500 Sep 24 Rebal: Palantir, Apollo, Workday Racing for Mega$ Flows

United States

Everpure, Inc. provides enterprise storage solutions. The Company offers flash enterprise arrays for workloads including server consolidation, virtualization desktop, database, and cloud computing. Everpure serves automotive, education, health care, financial services, retail, and telecom sectors in the United States.

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

Everpure (P 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

Primer: Pure Storage Inc (PSTG US) - Sep 2025

Pure Storage is a leading provider of all-flash data storage solutions, well-positioned to capitalize on favorable secular trends such as the...

αSK Primers

S&P500: DoorDash Knocks

Announced additions: DASH, WSM , EXE, TKO. 2/3 of top addition picks materialized. EXE, TKO I believe were added by force due to a large number of...

Dimitris Ioannidis

S&P 500 September 2024 Forecasts: Dull for DELL. Brighter for ERIE, LII and TPL

ERIE, DELL and PLTR were the announced additions and the top migration and transition candidates. To improve convictions, transitions and...

Dimitris Ioannidis

Quiddity Leaderboard S&P500 Sep 24 Rebal: Palantir, Apollo, Workday Racing for Mega$ Flows

S&P500 rebals are notoriously difficult to predict because of significant index committee discretion. Sep24 could see two adds, two deletes. Q4...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)