Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<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>The rankings used for the September 2025 index rebal event will be based on yesterday's (3rd September 2025) opening prices. The announcement will be made after the close on Friday.</li>
<li>In this insight, we take a look at our final expectations for ADDs/DELs (along with a tracker of all live spinoff/M&amp;A events which affect the index the next two quarters).</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.
The rankings used for the September 2025 index rebal event will be based on yesterday's (3rd September 2025) opening prices. The announcement will be made after the close on Friday.
In this insight, we take a look at our final expectations for ADDs/DELs (along with a tracker of all live spinoff/M&amp;A events which affect the index the next two quarters).


[Quiddity Index] S&P500/600 Sep25 Rebal: Final Predictions

<ul>
<li>KOSPI 200 is a Korean blue-chip index that tracks the 200 largest and most-liquid names listed in the KOSPI section of the Korea Exchange (KRX).</li>
<li>We expect up to 6 ADDs and 6 DELs for the December-2025 index rebal based on the latest available data. Same count as a month ago, but 5/12 name changes.</li>
<li>We have new charts available for all expected ADDs/DELs showing a variety of data we think worthwhile in terms of judging trade opportunity and risk. And two recommended trades.</li>
</ul>


KOSPI 200 is a Korean blue-chip index that tracks the 200 largest and most-liquid names listed in the KOSPI section of the Korea Exchange (KRX).
We expect up to 6 ADDs and 6 DELs for the December-2025 index rebal based on the latest available data. Same count as a month ago, but 5/12 name changes.
We have new charts available for all expected ADDs/DELs showing a variety of data we think worthwhile in terms of judging trade opportunity and risk. And two recommended trades.


[Quiddity Index Aug25] KOSPI 200 Leaderboard for Dec25 Rebal: 6 ADDs, 6 DELs, Two Recommended Trades

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>Ovintiv Inc. showcased robust operational and financial performance in its 2024 third-quarter results, underscoring both strengths and areas for cautious consideration.</li><li>The company reported net earnings of $507 million, equivalent to $1.92 per share, along with cash flow of $978 million, or $3.70 per share, which surpassed consensus expectations.</li><li>This was primarily attributed to production exceeding the upper end of guidance ranges for all product categories, coupled with cost efficiency driving performance.</li></ul>

Ovintiv Inc. showcased robust operational and financial performance in its 2024 third-quarter results, underscoring both strengths and areas for cautious consideration.The company reported net earnings of $507 million, equivalent to $1.92 per share, along with cash flow of $978 million, or $3.70 per share, which surpassed consensus expectations.This was primarily attributed to production exceeding the upper end of guidance ranges for all product categories, coupled with cost efficiency driving performance.

Ovintiv Inc.: Increased Production Efficiency & Cost Management Driving Our Bullishness! - Major Drivers

<ul><li>Ovintiv has been making headlines recently as it is rumored to have been approached by Coterra Energy for a potential takeover.</li><li>While this creates buzz, Ovintiv’s position in the market makes it a compelling acquisition target for strategic buyers like Coterra and others.</li><li>The company's operational execution has been solid, as evidenced by its recent earnings beat, with Ovintiv reporting strong production figures and significant free cash flow generation.</li></ul>

Ovintiv has been making headlines recently as it is rumored to have been approached by Coterra Energy for a potential takeover.While this creates buzz, Ovintiv’s position in the market makes it a compelling acquisition target for strategic buyers like Coterra and others.The company's operational execution has been solid, as evidenced by its recent earnings beat, with Ovintiv reporting strong production figures and significant free cash flow generation.

Ovintiv: A Prime Acquisition Target for Coterra Energy?

<ul><li>Ovintiv recently announced results for its second quarter of 2024, highlighting continued success in execution, free cash flow generation, and shipment of shareholder returns.</li><li>The North American energy producer has reported a net earnings of $340 million and an impressive cash flow exceeding $1 billion, outdoing consensus estimates.</li><li>This performance is underscored by a production outperformance on both oil and natural gas, as well as cost efficiencies.</li></ul>

Ovintiv recently announced results for its second quarter of 2024, highlighting continued success in execution, free cash flow generation, and shipment of shareholder returns.The North American energy producer has reported a net earnings of $340 million and an impressive cash flow exceeding $1 billion, outdoing consensus estimates.This performance is underscored by a production outperformance on both oil and natural gas, as well as cost efficiencies.

Ovintiv Inc.: Strategic Infrastructure Utilization and Expansion! - Major Drivers

United States

Ovintiv Inc. operates as an energy producer. The Company focuses on developing its multi-basin portfolio of oil, natural gas liquids, and natural gas producing plays. Ovintiv serves clients in the United States and Canada.

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Ovintiv (OVV US)

[Quiddity Index] S&P500/600 Sep25 Rebal: Final Predictions

The S&P500/400/600 Sep Rebal cutoff was decided at y/day's open. S&P500 predictions are like tilting at windmills, but we like windmills. We...

Travis Lundy

[Quiddity Index Aug25] KOSPI 200 Leaderboard for Dec25 Rebal: 6 ADDs, 6 DELs, Two Recommended Trades

When we published this 17 days ago, we recommended two trades. LONG Hyundai Autoever (307950 KS) vs SHORT Samsung SDS (018260 KS) and SHORT HDC...

Travis Lundy

Ovintiv Inc.: Increased Production Efficiency & Cost Management Driving Our Bullishness! - Major Drivers

Ovintiv Inc. showcased robust operational and financial performance in its 2024 third-quarter results, underscoring both strengths and areas for...

Baptista Research

Ovintiv: A Prime Acquisition Target for Coterra Energy?

Ovintiv has been making headlines recently as it is rumored to have been approached by Coterra Energy for a potential takeover. While this creates...

Baptista Research

Ovintiv Inc.: Strategic Infrastructure Utilization and Expansion! - Major Drivers

Ovintiv recently announced results for its second quarter of 2024, highlighting continued success in execution, free cash flow generation, and...

Baptista Research

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