Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>The SP 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 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 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: Two ADDs Two DELs and 3 Intra-Review Changes Likely Soon

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>The $25.6bn acquisition of <a href="https://www.smartkarma.com/entities/interpublic-group-of-companies-inc" target="_blank" data-smartkarma-citation="entities:8544:1" rel="noopener">Interpublic Group Of Companies (IPG US)</a> by <a href="https://www.smartkarma.com/entities/omnicom-group" target="_blank" data-smartkarma-citation="entities:15775:1" rel="noopener">Omnicom Group (OMC US)</a> may close by 11 September, with a possible extension if the merger is delayed.</li>
<li>
<a href="https://www.smartkarma.com/entities/crh-plc-054117b2-cd70-470a-9efc-8f6fab2c83ec" target="_blank" data-smartkarma-citation="entities:28655:1" rel="noopener">CRH plc (CRH US)</a> is forecasted to be the primary replacement candidate of IPG in S&amp;P500, followed by <a href="https://www.smartkarma.com/entities/cheniere-energy-inc" target="_blank" data-smartkarma-citation="entities:16683:1" rel="noopener">Cheniere Energy (LNG US)</a>.</li>
<li>
<a href="https://www.smartkarma.com/entities/crh-plc-054117b2-cd70-470a-9efc-8f6fab2c83ec" target="_blank" data-smartkarma-citation="entities:28655:1" rel="noopener">CRH plc (CRH US)</a> regained eligibility after reporting positive quarterly earnings in August.</li>
</ul>


The $25.6bn acquisition of Interpublic Group Of Companies (IPG US) by Omnicom Group (OMC US) may close by 11 September, with a possible extension if the merger is delayed.

CRH plc (CRH US) is forecasted to be the primary replacement candidate of IPG in S&amp;P500, followed by Cheniere Energy (LNG US).

CRH plc (CRH US) regained eligibility after reporting positive quarterly earnings in August.


CRH (CRH US): Poised for S&P500 Inclusion Amid Positive Earnings and Omnicom–Interpublic Merger

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


[Quiddity Index] S&P500/600 Dec25 Rebal: 2 Regular ADDs/DELs + Multiple Intra-Review Changes Coming

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

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.

Equity Bottom-Up

<ul><li>Omnicom Group's second-quarter 2025 results reflect a mix of steady performance, strategic advancement, and ongoing operational challenges.</li><li>Organic growth hit 3%, aligning with company expectations, and non-GAAP adjusted EBITDA margin remained stable at 15.3%.</li><li>Non-GAAP adjusted net income per share increased by 5.1%, reaching $2.05.</li></ul>

Omnicom Group's second-quarter 2025 results reflect a mix of steady performance, strategic advancement, and ongoing operational challenges.Organic growth hit 3%, aligning with company expectations, and non-GAAP adjusted EBITDA margin remained stable at 15.3%.Non-GAAP adjusted net income per share increased by 5.1%, reaching $2.05.

Omnicom Group: An Analysis Of Its Adjusted Client Investments, Brand Focus & Key Growth Catalysts!

United States

Omnicom Group Inc. provides advertising, marketing and corporate communications services. The Company's agencies, which operate in major markets around the world, provide a comprehensive range of services including traditional media advertising; customer relationship management ("CRM"); public relations; and specialty communications.

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Omnicom Group (OMC US)

[Quiddity Index] SP500/600 Dec25 Rebal: Two ADDs Two DELs and 3 Intra-Review Changes Likely Soon

SP500 could see two changes in Dec25. One has a lot to buy if chosen. There are also a few intra-review actions/changes scheduled for the near...

Travis Lundy

CRH (CRH US): Poised for S&P500 Inclusion Amid Positive Earnings and Omnicom–Interpublic Merger

After multiple extensions since September, Omnicom now confidently expects to complete its acquisition of Interpublic by the end of November, as...

Dimitris Ioannidis

[Quiddity Index] S&P500/600 Dec25 Rebal: 2 Regular ADDs/DELs + Multiple Intra-Review Changes Coming

The Dec25 SP500 rebal season threatens to be quite active. We now see two normal changes and a few intra-review changes are possible, which means...

Travis Lundy

[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

Omnicom Group: An Analysis Of Its Adjusted Client Investments, Brand Focus & Key Growth Catalysts!

Omnicom Group's second-quarter 2025 results reflect a mix of steady performance, strategic advancement, and ongoing operational...

Baptista Research

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