Index Rebalance and Special Situations Coverage, Quiddity Advisors

Anjana Amarasuriya

Index Rebalance and Special Situations Coverage

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<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>Two active M&amp;A deals could trigger intra-review ADDs. Shareholders have already approved one deal while the other goes to a shareholder vote on 4th May 2026.</li>
<li>
<a href="https://www.smartkarma.com/entities/titan-international-inc" target="_blank" data-smartkarma-citation="entities:2416:1" rel="noopener">Titan International (TWI US)</a>, our previous top SP 600 deletion candidate, was dropped from the SP 600. <a href="https://www.smartkarma.com/entities/insteel-industries-inc" target="_blank" data-smartkarma-citation="entities:4069:1" rel="noopener">Insteel Industries (IIIN US)</a> is now our top DELETION candidate.</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.
Two active M&amp;A deals could trigger intra-review ADDs. Shareholders have already approved one deal while the other goes to a shareholder vote on 4th May 2026.

Titan International (TWI US), our previous top SP 600 deletion candidate, was dropped from the SP 600. Insteel Industries (IIIN US) is now our top DELETION candidate.


Quiddity Leaderboard SP500/600 Jun26 Rebal: Two M&A Deals in Play; May Close Before June Review

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Equity Bottom-Up

<ul>
<li>Eaton captures AI-driven energy demand at the point of consumption, benefiting directly from rising data-centre power intensity, strong order momentum, and diversified electrification exposure.</li>
<li>Quanta Services monetises the grid expansion required to deliver AI-related power demand, with a record multi-year backlog, and predictable cash flows providing structural downside protection and earnings visibility.</li>
<li>Together, Eaton and Quanta cover the full AI-energy stack, from grid delivery to data-centre power use, combining upside exposure with resilience and reduced concentration risk in 2026.</li>
</ul>


Eaton captures AI-driven energy demand at the point of consumption, benefiting directly from rising data-centre power intensity, strong order momentum, and diversified electrification exposure.
Quanta Services monetises the grid expansion required to deliver AI-related power demand, with a record multi-year backlog, and predictable cash flows providing structural downside protection and earnings visibility.
Together, Eaton and Quanta cover the full AI-energy stack, from grid delivery to data-centre power use, combining upside exposure with resilience and reduced concentration risk in 2026.


2026 High Conviction Idea - Capturing AI’s Energy Backbone: Eaton for Upside, Quanta for Defence

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>MasTec's second-quarter 2025 results illustrate a period of significant financial performance characterized by notable growth across most business segments but also faced with variable challenges.</li><li>The company's revenue surpassed guidance expectations, resulting in a record $3.54 billion for the quarter, highlighting a 20% year-overyear growth.</li><li>The firm met its EBITDA expectations and exceeded its EPS guidance.</li></ul>

MasTec's second-quarter 2025 results illustrate a period of significant financial performance characterized by notable growth across most business segments but also faced with variable challenges.The company's revenue surpassed guidance expectations, resulting in a record $3.54 billion for the quarter, highlighting a 20% year-overyear growth.The firm met its EBITDA expectations and exceeded its EPS guidance.

<ul><li>MasTec, a diversified infrastructure construction company, reported robust financial performance in the first quarter of 2025, exceeding guidance in key metrics such as revenue, EBITDA, and EPS.</li><li>The company's revenue stood at $2.85 billion, with adjusted EBITDA of $164 million, marking significant overperformance.</li><li>The strong results came amid macroeconomic volatility, highlighting MasTec's structural demand strength across its diversified business segments.</li></ul>

MasTec, a diversified infrastructure construction company, reported robust financial performance in the first quarter of 2025, exceeding guidance in key metrics such as revenue, EBITDA, and EPS.The company's revenue stood at $2.85 billion, with adjusted EBITDA of $164 million, marking significant overperformance.The strong results came amid macroeconomic volatility, highlighting MasTec's structural demand strength across its diversified business segments.

MasTec Inc. Cashes In on Renewable Energy Wave with Strategic Alliances & Record Backlog!

<ul><li>MasTec Inc. has reported strong financial results for the fourth quarter and full year 2024.</li><li>The company's performance exceeded expectations across several key metrics, including revenue, adjusted EBITDA, and earnings per share (EPS).</li><li>For the fourth quarter, MasTec achieved a revenue of $3.4 billion with an adjusted EBITDA of $271 million, marking a 20% year-over-year increase.</li></ul>

MasTec Inc. has reported strong financial results for the fourth quarter and full year 2024.The company's performance exceeded expectations across several key metrics, including revenue, adjusted EBITDA, and earnings per share (EPS).For the fourth quarter, MasTec achieved a revenue of $3.4 billion with an adjusted EBITDA of $271 million, marking a 20% year-over-year increase.

MasTec's Clean Energy Boom: New Client Wins & Rising Margins Could Fuel Solid Growth In 2025!

United States

MasTec, Inc. is a specialty contractor operating across a range of industries. The Company activities are the building, installation, maintenance, and upgrade of utility and communications infrastructure, including electrical utility transmission and distribution, wind farms, solar farms, renewable energy and natural gas infrastructure, wireless, and wireline.

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

Mastec Inc (MTZ US)

Quiddity Leaderboard SP500/600 Jun26 Rebal: Two M&A Deals in Play; May Close Before June Review

Bloom Energy (BE US) cleared the SP 500 financial viability requirement with $70.7m of net income in its Q1 2026 earnings release on 28 April 2026,...

Anjana Amarasuriya

2026 High Conviction Idea - Capturing AI’s Energy Backbone: Eaton for Upside, Quanta for Defence

Eaton and Quanta Services capitalize on AI-driven energy demand, covering grid expansion and data-center power use for diversified exposure and...

Mint Finance

MasTec: Leveraging Renewable Energy

MasTec's second-quarter 2025 results illustrate a period of significant financial performance characterized by notable growth across most business...

Baptista Research

MasTec Inc. Cashes In on Renewable Energy Wave with Strategic Alliances & Record Backlog!

MasTec, a diversified infrastructure construction company, reported robust financial performance in the first quarter of 2025, exceeding guidance...

Baptista Research

MasTec's Clean Energy Boom: New Client Wins & Rising Margins Could Fuel Solid Growth In 2025!

MasTec Inc. has reported strong financial results for the fourth quarter and full year 2024. The company's performance exceeded expectations...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Quiddity Leaderboard SP500/600 Jun26 Rebal: Two M&A Deals in Play; May Close Before June Review

Bloom Energy (BE US) cleared the SP 500 financial viability requirement with $70.7m of net income in its Q1 2026 earnings release on 28 April 2026,...

Anjana Amarasuriya

2026 High Conviction Idea - Capturing AI’s Energy Backbone: Eaton for Upside, Quanta for Defence

​Eaton and Quanta Services capitalize on AI-driven energy demand, covering grid expansion and data-center power use for diversified exposure and...

Mint Finance

MasTec: Leveraging Renewable Energy

MasTec's second-quarter 2025 results illustrate a period of significant financial performance characterized by notable growth across most business...

Baptista Research

MasTec Inc. Cashes In on Renewable Energy Wave with Strategic Alliances & Record Backlog!

MasTec, a diversified infrastructure construction company, reported robust financial performance in the first quarter of 2025, exceeding guidance...

Baptista Research

MasTec's Clean Energy Boom: New Client Wins & Rising Margins Could Fuel Solid Growth In 2025!

MasTec Inc. has reported strong financial results for the fourth quarter and full year 2024. The company's performance exceeded expectations...

Baptista Research

Eaton and Quanta Services capitalize on AI-driven energy demand, covering grid expansion and data-center power use for diversified exposure and...