Index Rebalance and Special Situations, Quiddity Advisors

Afridi Reyal

Index Rebalance and Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>In this insight, we take a look at the potential index changes for the F100 and F250 in the run-up to the June 2026 index rebal event.</li>
<li>Our latest estimates suggest there could be four regular changes for F100 and five regular changes for F250 during the June 2026 rebal.</li>
<li>We see three transfers and one new listing being added to the F250 index. Naturally, we expect F250 and FAllShare passive trackers to buy these names.</li>
</ul>


In this insight, we take a look at the potential index changes for the F100 and F250 in the run-up to the June 2026 index rebal event.
Our latest estimates suggest there could be four regular changes for F100 and five regular changes for F250 during the June 2026 rebal.
We see three transfers and one new listing being added to the F250 index. Naturally, we expect F250 and FAllShare passive trackers to buy these names.


Quiddity Leaderboard F100/F250 Jun26: Rosebank and Cordiant as F250 ADDs; 2 Weeks to Base Date

<ul>
<li>In this insight, we take a look at the potential index changes for the F100 and F250 in the run-up to the June 2026 index rebal event.</li>
<li>Our latest estimates suggest there could be one regular change for F100 and two regular changes for F250 during the June 2026 rebal.</li>
<li>
<a href="https://www.smartkarma.com/entities/carnival-plc" target="_blank" data-smartkarma-citation="entities:21869:1" rel="noopener">Carnival (CCL LN)</a> is set to be deleted from F250 on 5th May 2026. Its replacement is being announced today and we have shared our final expectation.</li>
</ul>


In this insight, we take a look at the potential index changes for the F100 and F250 in the run-up to the June 2026 index rebal event.
Our latest estimates suggest there could be one regular change for F100 and two regular changes for F250 during the June 2026 rebal.

Carnival (CCL LN) is set to be deleted from F250 on 5th May 2026. Its replacement is being announced today and we have shared our final expectation.


Quiddity Leaderboard F100/F250 Jun26: Carnival F250 Replacement 5 May; One F100 and Two F250 Changes

Your Partner for Growth, Hybridan

Hybridan

Your Partner for Growth

Our passion is raising growth capital for exciting, fast growth companies that want to take their business to the next level. We raise capital for companies both listed and unlisted in the most efficient manner possible and pride ourselves as being one of the few consistently profitable broking firms in the City. This has been achieved through a highly disciplined approach when seeking to create both corporate and institutional relationships.

Equity Bottom-Up

<ul>
<li>It’s been a fantastic past few weeks in the market and the message from the conversations at the coal face is clear – sentiment is starting to pick up with a surge in primary placings and the welcoming of IPOs such as Beauty Tech Group (£300m market capitalisation), Shawbrook Group (£1.92bn market capitalisation) and Princes Group (£1.1bn market capitalisation).</li>
<li>Wearing my unashamedly biased small-cap hat, I fear that those in power politically will look upon the success of these IPOs and wonder what we are all worried about in the SMID capital markets world.</li>
<li>Just in time for Halloween, Begbies Traynor (BEG.L) released their latest Red Flag Alert Report for Q3 2025 which read more like a Stephen King novel. </li>
</ul>


It’s been a fantastic past few weeks in the market and the message from the conversations at the coal face is clear – sentiment is starting to pick up with a surge in primary placings and the welcoming of IPOs such as Beauty Tech Group (£300m market capitalisation), Shawbrook Group (£1.92bn market capitalisation) and Princes Group (£1.1bn market capitalisation).
Wearing my unashamedly biased small-cap hat, I fear that those in power politically will look upon the success of these IPOs and wonder what we are all worried about in the SMID capital markets world.
Just in time for Halloween, Begbies Traynor (BEG.L) released their latest Red Flag Alert Report for Q3 2025 which read more like a Stephen King novel. 


<ul>
<li>Arc Minerals Limited 0.50p £15.21m (ARCM.L) The exploration Company focused on developing Tier 1 copper deposits announces that the joint venture agreement in respect of the Zambian mining tenements between its subsidiary Unico Minerals Limited with a subsidiary of Anglo American plc has by mutual agreement been terminated and Anglo American has accordingly withdrawn from the joint venture and surrendered its interests, which were held through the joint venture company, Handa Resources Limited.</li>
<li>This follows a protracted period of no drilling activity during 2025. It has been further agreed that circa US$800k will be left in Handa's bank account and Arc will resume control of that company, with Anglo American surrendering its shares in Handa.</li>
<li>The Company reverts to a controlling position of the prospective copper tenements.</li>
</ul>


Arc Minerals Limited 0.50p £15.21m (ARCM.L) The exploration Company focused on developing Tier 1 copper deposits announces that the joint venture agreement in respect of the Zambian mining tenements between its subsidiary Unico Minerals Limited with a subsidiary of Anglo American plc has by mutual agreement been terminated and Anglo American has accordingly withdrawn from the joint venture and surrendered its interests, which were held through the joint venture company, Handa Resources Limited.
This follows a protracted period of no drilling activity during 2025. It has been further agreed that circa US$800k will be left in Handa's bank account and Arc will resume control of that company, with Anglo American surrendering its shares in Handa.
The Company reverts to a controlling position of the prospective copper tenements.


Seraphim Space Investment Trust / Equity Bottom-Up

Seraphim Space Investment Trust (SSIT LN)

<ul>
<li>Hybridan Monthly, 1 October 2025 Market Comment: View from the Broker’s Desk Why you can’t compare a Defender to a Lamborghini I would always choose a Defender (90 version of course, not the Chelsea tractor new style) over a Lamborghini.</li>
<li>Whilst many will always be taken in by the allure of brighter colours, louder engines, and slender appearance, there are some that will stay loyal to the homegrown juggernaut.</li>
<li>It’s becoming an unfortunate common occurrence when you pick up the paper and read “My $1bn fintech wants to float — but London’s out of the question”.</li>
</ul>


Hybridan Monthly, 1 October 2025 Market Comment: View from the Broker’s Desk Why you can’t compare a Defender to a Lamborghini I would always choose a Defender (90 version of course, not the Chelsea tractor new style) over a Lamborghini.
Whilst many will always be taken in by the allure of brighter colours, louder engines, and slender appearance, there are some that will stay loyal to the homegrown juggernaut.
It’s becoming an unfortunate common occurrence when you pick up the paper and read “My $1bn fintech wants to float — but London’s out of the question”.


Seraphim Space Investment Trust PLC - Hybridan Monthly, 1 October 2025

United Kingdom

Seraphim Space Investment Trust Plc is a UK-based investment trust that specializes in providing public market investors access to a diversified portfolio of growth-stage space technology companies. It invests in early and growth stage privately financed SpaceTech businesses across sectors such as defence, security, climate, communications, and sustainability. The company was founded in 2021 and is headquartered in London, United Kingdom.

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Seraphim Space Investment Trust (SSIT LN)

Quiddity Leaderboard F100/F250 Jun26: Rosebank and Cordiant as F250 ADDs; 2 Weeks to Base Date

We see F250 and FAllShare passive buying for Rosebank, Cordiant, GlobalData, and Meridian on 19th June 2026. We also expect four changes to F100.

Afridi Reyal

Quiddity Leaderboard F100/F250 Jun26: Carnival F250 Replacement 5 May; One F100 and Two F250 Changes

We see one F100 and two F250 changes. Harbour hovers around the F100 ADD border, while Seraphim and Young &Co sit close to the F250 ADD border.

Afridi Reyal

Hybridan Monthly: November 2025

Wearing my unashamedly biased small-cap hat, I fear that those in power politically will look upon the success of these IPOs and wonder what we are...

Hybridan

Hybridan Small Cap Feast: 20/10/2025

The exploration Company focused on developing Tier 1 copper deposits announces that the joint venture agreement in respect of the Zambian mining...

Hybridan

Seraphim Space Investment Trust PLC - Hybridan Monthly, 1 October 2025

Whilst many will always be taken in by the allure of brighter colours, louder engines, and slender appearance, there are some that will stay loyal...

Hybridan

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