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/costar-group-inc" target="_blank" data-smartkarma-citation="entities:16907:1" rel="noopener">Costar Group (CSGP US)</a> will be deleted from Nasdaq100 on 15 May 2026 due to the fast-exit rule, which has been implemented for the last time with the old methodology.</li>
<li>
<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> will be added to the index replacing <a href="https://www.smartkarma.com/entities/costar-group-inc" target="_blank" data-smartkarma-citation="entities:16907:1" rel="noopener">Costar Group (CSGP US)</a>.</li>
<li>
<a href="https://www.smartkarma.com/entities/coreweave-inc" target="_blank" data-smartkarma-citation="entities:44471:1" rel="noopener">CoreWeave (CRWV US)</a>, <a href="https://www.smartkarma.com/entities/medline-inc" target="_blank" data-smartkarma-citation="entities:45954:1" rel="noopener">Medline (MDLN US)</a> and <a href="https://www.smartkarma.com/entities/teradyne-inc" target="_blank" data-smartkarma-citation="entities:13088:1" rel="noopener">Teradyne Inc (TER US)</a> are now the top addition candidates to replace the upcoming deletions in June 2026 with the new methodology.</li>
</ul>



Costar Group (CSGP US) will be deleted from Nasdaq100 on 15 May 2026 due to the fast-exit rule, which has been implemented for the last time with the old methodology.

Lumentum Holdings (LITE US) will be added to the index replacing Costar Group (CSGP US).

CoreWeave (CRWV US), Medline (MDLN US) and Teradyne Inc (TER US) are now the top addition candidates to replace the upcoming deletions in June 2026 with the new methodology.


Lumentum (LITE US): Nasdaq100 Inclusion Driven by Costar’s Fast‑Exit

Asia and Global Semiconductor and Tech Research

Andrew Lu

Thematic (Sector/Industry)

<h2>Couple of Early Signs Confirm a Seasonal Correction to Kick In</h2><p>After 37% ytd performance on Phila semiconductor index (SOX) at 23x P/E and 34% ytd performance on Taiwan semiconductor index (TWSESCI Index) at 18x P/E driven largely by GPU guys for cloud AI training and Cryptocurrency mining, EUV related equipment vendors, memory price hiking for shortage, cloud vendors web service expansion, fuel car migration to EV/autonomous and surely new features on smartphone (3D sensing, wireless charging…</p>

Couple of Early Signs Confirm a Seasonal Correction to Kick InAfter 37% ytd performance on Phila semiconductor index (SOX) at 23x P/E and 34% ytd performance on Taiwan semiconductor index (TWSESCI Index) at 18x P/E driven largely by GPU guys for cloud AI training and Cryptocurrency mining, EUV related equipment vendors, memory price hiking for shortage, cloud vendors web service expansion, fuel car migration to EV/autonomous and surely new features on smartphone (3D sensing, wireless charging…

Semiconductor - Couple of Early Signs Confirm a Seasonal Correction to Kick In

Index Rebalance and Special Situations Coverage, Quiddity Advisors

Anjana Amarasuriya

Index Rebalance and Special Situations Coverage

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>The Nasdaq 100 index tracks the 100 largest names listed on the Nasdaq Stock Exchange.</li>
<li>One active M&amp;A deal could trigger an intra-review ADD. Shareholders have already approved the deal.</li>
<li>We expect three changes and around US$5bn one-way flow for Nasdaq 100 in the June index rebal event and another $2bn in one-way flows on the intra-review change.</li>
</ul>


The Nasdaq 100 index tracks the 100 largest names listed on the Nasdaq Stock Exchange.
One active M&amp;A deal could trigger an intra-review ADD. Shareholders have already approved the deal.
We expect three changes and around US$5bn one-way flow for Nasdaq 100 in the June index rebal event and another $2bn in one-way flows on the intra-review change.


Quiddity Leaderboard Nasdaq100 Jun26 Rebal: Three Regular ADDs/DELs; US$7bn in One-Way Flows

<ul>
<li>
<a href="https://www.smartkarma.com/entities/coreweave-inc" target="_blank" data-smartkarma-citation="entities:44471:1" rel="noopener">CoreWeave (CRWV US)</a> received a boost in Nasdaq100 ranking due to the new methodology, which ranks based on company rather than security market cap.</li>
<li>
<a href="https://www.smartkarma.com/entities/costar-group-inc" target="_blank" data-smartkarma-citation="entities:16907:1" rel="noopener">Costar Group (CSGP US)</a>, <a href="https://www.smartkarma.com/entities/zscaler-inc" target="_blank" data-smartkarma-citation="entities:36134:1" rel="noopener">Zscaler (ZS US)</a> and <a href="https://www.smartkarma.com/entities/charter-communications-inc" target="_blank" data-smartkarma-citation="entities:1058:1" rel="noopener">Charter Communications (CHTR US)</a> are the main deletion candidates for June 2026 as they are currently below rank 125.</li>
<li>Top addition/replacement candidates are <a href="https://www.smartkarma.com/entities/coreweave-inc" target="_blank" data-smartkarma-citation="entities:44471:1" rel="noopener">CoreWeave (CRWV US)</a>, <a href="https://www.smartkarma.com/entities/teradyne-inc" target="_blank" data-smartkarma-citation="entities:13088:1" rel="noopener">Teradyne Inc (TER 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>.</li>
</ul>



CoreWeave (CRWV US) received a boost in Nasdaq100 ranking due to the new methodology, which ranks based on company rather than security market cap.

Costar Group (CSGP US), Zscaler (ZS US) and Charter Communications (CHTR US) are the main deletion candidates for June 2026 as they are currently below rank 125.
Top addition/replacement candidates are CoreWeave (CRWV US), Teradyne Inc (TER US) and Lumentum Holdings (LITE US).


CoreWeave (CRWV US): Rank Boost in Nasdaq100 From New Methodology

<ul>
<li>The Nasdaq 100 index tracks the 100 largest names listed on the Nasdaq Stock Exchange.</li>
<li>In this insight, we have presented our expectations for ADDs/DELs for the upcoming quarterly rebalance in June 2026 and for the annual reconstitution in December 2026.</li>
<li>There is one imminent intra-review change before the upcoming June rebal event.</li>
</ul>


The Nasdaq 100 index tracks the 100 largest names listed on the Nasdaq Stock Exchange.
In this insight, we have presented our expectations for ADDs/DELs for the upcoming quarterly rebalance in June 2026 and for the annual reconstitution in December 2026.
There is one imminent intra-review change before the upcoming June rebal event.


Quiddity Leaderboard NASDAQ 100 Jun26 Rebal: TWO Regular ADDs/DELs + ONE Intra-Review Change Coming

United States

Lumentum Holdings Inc. operates as a holding company. The Company, through its subsidiaries, supplies optical and photonic products. Lumentum Holdings serves data communications and telecommunications, networking, and life-sciences markets worldwide.

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Lumentum Holdings (LITE US)

Lumentum (LITE US): Nasdaq100 Inclusion Driven by Costar’s Fast‑Exit

Costar will be removed from Nasdaq100 via fast‑exit on 15 May with Lumentum replacing it, while Medline, CoreWeave and Teradyne are the top...

Dimitris Ioannidis

Semiconductor - Couple of Early Signs Confirm a Seasonal Correction to Kick In

Couple of Early Signs Confirm a Seasonal Correction to Kick InAfter 37% ytd performance on Phila semiconductor index (SOX) at 23x P/E and 34% ytd...

Andrew Lu

Quiddity Leaderboard Nasdaq100 Jun26 Rebal: Three Regular ADDs/DELs; US$7bn in One-Way Flows

Three expected changes in the June 2026 Nasdaq 100 rebalance, an active M&A deal in play, and a SpaceX inclusion expected by late July.

Anjana Amarasuriya

CoreWeave (CRWV US): Rank Boost in Nasdaq100 From New Methodology

CRWV rises in Nasdaq100 ranking under the new methodology due to unlisted shares, while CSGP, ZS, and CHTR face potential deletion in June 2026...

Dimitris Ioannidis

Quiddity Leaderboard NASDAQ 100 Jun26 Rebal: TWO Regular ADDs/DELs + ONE Intra-Review Change Coming

New methodology introduces quarterly constituent reviews alongside weight adjustments, but even before it takes effect, we expect one intra-review...

Anjana Amarasuriya

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Lumentum (LITE US): Nasdaq100 Inclusion Driven by Costar’s Fast‑Exit

Costar will be removed from Nasdaq100 via fast‑exit on 15 May with Lumentum replacing it, while Medline, CoreWeave and Teradyne are the top...

Dimitris Ioannidis

Semiconductor - Couple of Early Signs Confirm a Seasonal Correction to Kick In

Couple of Early Signs Confirm a Seasonal Correction to Kick InAfter 37% ytd performance on Phila semiconductor index (SOX) at 23x P/E and 34% ytd...

Andrew Lu

Quiddity Leaderboard Nasdaq100 Jun26 Rebal: Three Regular ADDs/DELs; US$7bn in One-Way Flows

Three expected changes in the June 2026 Nasdaq 100 rebalance, an active M&A deal in play, and a SpaceX inclusion expected by late July.

Anjana Amarasuriya

CoreWeave (CRWV US): Rank Boost in Nasdaq100 From New Methodology

​CRWV rises in Nasdaq100 ranking under the new methodology due to unlisted shares, while CSGP, ZS, and CHTR face potential deletion in June 2026...

Dimitris Ioannidis

Quiddity Leaderboard NASDAQ 100 Jun26 Rebal: TWO Regular ADDs/DELs + ONE Intra-Review Change Coming

New methodology introduces quarterly constituent reviews alongside weight adjustments, but even before it takes effect, we expect one intra-review...

Anjana Amarasuriya

CRWV rises in Nasdaq100 ranking under the new methodology due to unlisted shares, while CSGP, ZS, and CHTR face potential deletion in June 2026...