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 (mostly profitable) US-listed names and is one of the most highly-tracked indices in the world.</li>
<li>We expect 2 changes during the June 2026 index rebal event, with a possible intra-review ADD before the regular rebalance announcement.</li>
<li>SP DJI has launched a public consultation on the Treatment of MegaCap Companies. No impact expected until next year, if adopted.</li>
</ul>


The SP 500 index tracks the 500 largest (mostly profitable) US-listed names and is one of the most highly-tracked indices in the world.
We expect 2 changes during the June 2026 index rebal event, with a possible intra-review ADD before the regular rebalance announcement.
SP DJI has launched a public consultation on the Treatment of MegaCap Companies. No impact expected until next year, if adopted.


Quiddity Leaderboard SP500/600 Jun26 Rebal: Base Date Is Only Two Weeks Away

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>The S&amp;P 500 remains in a long-term uptrend and a shorter-term, YTD consolidation. The next key resistance level to be tested is the all-time high of 2,873 which was set in January. On the plus side, the Advance-Decline (A-D) line, hit a new all-time high last week. Additionally, cap- and equal-weighted cyclicals vs. staples ratios have given up some ground recently but remain conducive to a risk-on environment.</p><p>In today’s report we provide a complete U.S. equity strategy overview, and highlight attractive Groups and stocks within the Consumer Discretionary sector, including: auto parts, small-cap apparel, accessory &amp; luxury goods, and off-price retailers.</p>

The S&amp;P 500 remains in a long-term uptrend and a shorter-term, YTD consolidation. The next key resistance level to be tested is the all-time high of 2,873 which was set in January. On the plus side, the Advance-Decline (A-D) line, hit a new all-time high last week. Additionally, cap- and equal-weighted cyclicals vs. staples ratios have given up some ground recently but remain conducive to a risk-on environment.In today’s report we provide a complete U.S. equity strategy overview, and highlight attractive Groups and stocks within the Consumer Discretionary sector, including: auto parts, small-cap apparel, accessory &amp; luxury goods, and off-price retailers.

U.S. Equity Strategy: Opportunities in Retailing Stocks

<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

<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>An M&amp;A deal and a spinoff are both closing soon.  The M&amp;A will trigger an intra-review SP 500 ADD. The spinoff will trigger a SP 600 DEL.</li>
<li>We expect two changes during the regular June 2026 rebalance and two more intra-review index changes after the regular rebalance is announced.</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.
An M&amp;A deal and a spinoff are both closing soon.  The M&amp;A will trigger an intra-review SP 500 ADD. The spinoff will trigger a SP 600 DEL.
We expect two changes during the regular June 2026 rebalance and two more intra-review index changes after the regular rebalance is announced.


Quiddity Leaderboard SP500/600 Jun26 Rebal: One Intra-Review ADD Imminent as M&A Deal Nears Close

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

<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 June 2025 index rebal event.</li>
<li>We expect two regular changes in June 2025. There are also multiple live spin-off and M&amp;A events which are likely to trigger intra-review index changes.</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 June 2025 index rebal event.
We expect two regular changes in June 2025. There are also multiple live spin-off and M&amp;A events which are likely to trigger intra-review index changes.


[Quiddity Index Mar25] S&P500/600 Jun25 Rebal: Early Days But a Few Intrareview Changes Possible

United States

Monro Muffler Brake, Inc. operates a chain of Company owned stores in the Northeast US providing automotive undercar repair and tire services in the Eastern region of the US. The Company's stores provide a broad range of services  for brake systems, mufflers and exhaust, tires, steering, drive train,  suspension, wheel alignment, routine maintenance and state inspections.

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Monro Muffler Brake (MNRO US)

Quiddity Leaderboard SP500/600 Jun26 Rebal: Base Date Is Only Two Weeks Away

One intra-review SP 500 ADD slot in play ahead of the June 2026 rebalance. 2 regular ADDs and 2 DELs expected. Meanwhile, SP DJI's MegaCap...

Anjana Amarasuriya

U.S. Equity Strategy: Opportunities in Retailing Stocks

The S&P 500 remains in a long-term uptrend and a shorter-term, YTD consolidation. The next key resistance level to be tested is the all-time...

Vermilion Research

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

Quiddity Leaderboard SP500/600 Jun26 Rebal: One Intra-Review ADD Imminent as M&A Deal Nears Close

We expect 1 spinoff change to SP500/600 imminently, one M&A change to SP500, then two changes in the June 2026 rebalance. There could be two other...

Anjana Amarasuriya

[Quiddity Index Mar25] S&P500/600 Jun25 Rebal: Early Days But a Few Intrareview Changes Possible

The S&P500/400/600 rebalance for March is done as of Friday. The S&P rebalance for June now has a leaderboard. APP and CRH lead from outside the...

Travis Lundy

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