Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

NextVision Stabilized Systems / Index Rebalance

<ul>
<li>The MV Global Defense Industry Index represents the performance of companies in national defense industries.</li>
<li>There will be four ADDs for the MV Global Defense Index for the December 2025 rebal. </li>
<li>We expect one-way flow of US$391mn for December 2025, which translates to a turnover of 5.4%.</li>
</ul>


The MV Global Defense Industry Index represents the performance of companies in national defense industries.
There will be four ADDs for the MV Global Defense Index for the December 2025 rebal. 
We expect one-way flow of US$391mn for December 2025, which translates to a turnover of 5.4%.


[Quiddity Index] MV Global Defense Dec25 Rebalance Results: Flow Expectations

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

<ul>
<li>
<a href="https://www.smartkarma.com/entities/bigbear-ai-holdings-inc" target="_blank" data-smartkarma-citation="entities:36863:1" rel="noopener">BigBear.ai Holdings</a>, <a href="https://www.smartkarma.com/entities/next-vision-stabilized-systems-ltd-nextvision" target="_blank" data-smartkarma-citation="entities:44223:1" rel="noopener">NextVision Stabilized Systems</a>, <a href="https://www.smartkarma.com/entities/ondas-holdings-inc" target="_blank" data-smartkarma-citation="entities:33321:1" rel="noopener">Ondas Holdings Inc</a> and <a href="https://www.smartkarma.com/entities/planet-labs-pbc" target="_blank" data-smartkarma-citation="entities:35253:1" rel="noopener">Planet Labs</a> will be added to the MarketVector Global Defense Industry Index at the close on 19 December.</li>
<li>The 4 adds, float changes and capping changes will result in an estimated one-way turnover of 5.8% resulting in a round-trip trade of US$846m.</li>
<li>The adds have all run up over the last year and the passive buying could give the stocks another leg up in the short-term.</li>
</ul>



BigBear.ai Holdings, NextVision Stabilized Systems, Ondas Holdings Inc and Planet Labs will be added to the MarketVector Global Defense Industry Index at the close on 19 December.
The 4 adds, float changes and capping changes will result in an estimated one-way turnover of 5.8% resulting in a round-trip trade of US$846m.
The adds have all run up over the last year and the passive buying could give the stocks another leg up in the short-term.


MV Global Defense Industry Index Rebalance: 4 Adds; 5.8% Turnover; US$850m Trade

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

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).</li>
<li>We will maintain our bullish view as long as market dynamics remain healthy and the SPX and ACWI-US are above 5700-5785 and $119-$121.</li>
<li>$123-$123.50 remains short-term support to watch on ACWI-US (6.5-month base); we would expect support here on a pullback, but a break below it would likely mean a test of $119-$121</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).
We will maintain our bullish view as long as market dynamics remain healthy and the SPX and ACWI-US are above 5700-5785 and $119-$121.
$123-$123.50 remains short-term support to watch on ACWI-US (6.5-month base); we would expect support here on a pullback, but a break below it would likely mean a test of $119-$121


Israel TA-125 Remains Bullish; Buys in Norway; All MSCI Global Indexes Above Base Supports

Israel

Next Vision Stabilized Systems Ltd manufacture photographic equipment and supplies. The Company offers widest range of field-proven stabilized cameras and accessories for commercial, industrial, and security applications. Next Vision Stabilized Systems serves customers in Israel.

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NextVision Stabilized Systems (NXSN IT)

[Quiddity Index] MV Global Defense Dec25 Rebalance Results: Flow Expectations

Four ADDs and $800mm to trade in the MV Global Defense rebal to be executed on 19 December. There is one name with about 4x ADV to buy. The rest...

Travis Lundy

MV Global Defense Industry Index Rebalance: 4 Adds; 5.8% Turnover; US$850m Trade

There are 4 adds for the index in Dec. Estimated one-way turnover is 5.8% resulting in a round-trip trade of US$846m. The adds have run up a lot...

Brian Freitas

Israel TA-125 Remains Bullish; Buys in Norway; All MSCI Global Indexes Above Base Supports

Israel TA-125 Remains Bullish; Buys in Norway; All MSCI Global Indexes Above Base Supports $ACWI, $ACWX, ACWI ex-US Small-Caps, $EEM, and $EFA....

Vermilion Research

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