US-EU Index Rebalances / Quantitative Researcher, Ortex

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

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.

Event-Driven

Kioxia Holdings Corporation manufactures semiconductor memory products. The Company develops, produces, and sells flash memory cards, solid state drives, secure digital memory cards, and other products. Kioxia Holdings markets its products worldwide.

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<li>
<a href="https://www.smartkarma.com/entities/kioxia-holdings-corp" target="_blank" data-smartkarma-citation="entities:29243:1" rel="noopener">Kioxia Holdings (285A JP)</a> is scheduled to be listed on 18 December 2024, at the prime market of TSE at an expected valuation of ~$4.9bn.</li>
<li>The security's low free float is the main cause of Fast-Entry rejection by both global indices and quarterly exclusion from the one global index.</li>
<li>Quarterly inclusion to the other global index is forecasted for June 2025 following the 3-month minimum trading requirement. </li>
</ul>



Kioxia Holdings (285A JP) is scheduled to be listed on 18 December 2024, at the prime market of TSE at an expected valuation of ~$4.9bn.
The security's low free float is the main cause of Fast-Entry rejection by both global indices and quarterly exclusion from the one global index.
Quarterly inclusion to the other global index is forecasted for June 2025 following the 3-month minimum trading requirement. 


Kioxia (285A JP): Early Christmas with IPO Approval, Grinch Steals Fast-Entry

FineToday Holdings Co., Ltd. develops, manufactures, and markets personal care products. The Company provides hair care, skin care, body care, and other personal care products. FineToday Holdings sells its products throughout Japan.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/finetoday-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:44092:1" rel="noopener">FineToday Holdings Co Ltd (289A JP)</a> is scheduled to be listed on 17 December 2024, at the prime market of TSE at an expected valuation of ~$1.5bn.</li>
<li>Addition to the small-cap segment of both global indices is forecasted to take place at the May and June 2025 quarterly reviews.</li>
<li>Full exercise of the greenshoe can increase free float from 35% to 45% hence the security's passive fund demand upon inclusion.</li>
</ul>



FineToday Holdings Co Ltd (289A JP) is scheduled to be listed on 17 December 2024, at the prime market of TSE at an expected valuation of ~$1.5bn.
Addition to the small-cap segment of both global indices is forecasted to take place at the May and June 2025 quarterly reviews.
Full exercise of the greenshoe can increase free float from 35% to 45% hence the security's passive fund demand upon inclusion.


FineToday (289A JP): Fine In May & June 2025 for Global Index Inclusion

AppLovin Corporation provides software solutions. The Company offers an end-to-end software that optimizes monetization, and uses machine learning to make data-driven marketing decisions for profitable growth. AppLovin serves clients worldwide.

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<li>
<a href="https://www.smartkarma.com/entities/applovin-corp" target="_blank" data-smartkarma-citation="entities:32989:1" rel="noopener">AppLovin (APP US)</a> and <a href="https://www.smartkarma.com/entities/apollo-global-management-inc" target="_blank" data-smartkarma-citation="entities:28770:1" rel="noopener">Apollo Global Management (APO US)</a> are the main candidates for addition by transition as they are passing the estimated transition threshold and have strong eligibility metrics.  </li>
<li>
<a href="https://www.smartkarma.com/entities/texas-pacific-land-corp" target="_blank" data-smartkarma-citation="entities:28693:1" rel="noopener">Texas Pacific Land (TPL US)</a> is the main candidate for addition by migration - despite failing eligibility - due to its significant distance above the minimum S&amp;P500 mcap threshold. </li>
<li>
<a href="https://www.smartkarma.com/entities/emcor-group-inc" target="_blank" data-smartkarma-citation="entities:20703:1" rel="noopener">Emcor Group (EME US)</a> and <a href="https://www.smartkarma.com/entities/lennox-international-inc" target="_blank" data-smartkarma-citation="entities:16420:1" rel="noopener">Lennox International (LII US)</a> are the next candidates for addition by migration with both passing eligibility and adequate distance above the mcap threshold. </li>
</ul>



AppLovin (APP US) and Apollo Global Management (APO US) are the main candidates for addition by transition as they are passing the estimated transition threshold and have strong eligibility metrics.  

Texas Pacific Land (TPL US) is the main candidate for addition by migration - despite failing eligibility - due to its significant distance above the minimum S&amp;P500 mcap threshold. 

Emcor Group (EME US) and Lennox International (LII US) are the next candidates for addition by migration with both passing eligibility and adequate distance above the mcap threshold. 


S&P500 December 2024 Forecasts: APP, APO and TPL Leading the Pack

Alliance Witan PLC is an investment trust incorporated in the United Kingdom. The aim of the Fund is to provide the core investment for those who wish to bui- ld up a long term store of increasing value. The Fund invests across all global markets and a broad range of asset classes.

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<li>
<a href="https://www.smartkarma.com/entities/alliance-witan-plc" target="_blank" data-smartkarma-citation="entities:44039:1" rel="noopener">Alliance Witan (ALW LN)</a> is the main candidate for addition in Top 100 (footsie 100) replacing <a href="https://www.smartkarma.com/entities/vistry-group-plc" target="_blank" data-smartkarma-citation="entities:21858:1" rel="noopener">Vistry Group (VTY LN)</a> whose price recently plummeted more than 50%.</li>
<li>
<a href="https://www.smartkarma.com/entities/st-james-s-place-plc" target="_blank" data-smartkarma-citation="entities:22168:1" rel="noopener">St James's Place (STJ LN)</a> is the next candidate for addition in Top 100 replacing <a href="https://www.smartkarma.com/entities/frasers-group-plc" target="_blank" data-smartkarma-citation="entities:22158:1" rel="noopener">Frasers Group (FRAS LN)</a> with both stocks being extremely close to the entry-exit rank.</li>
<li>
<a href="https://www.smartkarma.com/entities/metro-bank-plc" target="_blank" data-smartkarma-citation="entities:25601:1" rel="noopener">Metro Bank (MTRO LN)</a> and <a href="https://www.smartkarma.com/entities/diversified-energy-co-plc" target="_blank" data-smartkarma-citation="entities:41329:1" rel="noopener">Diversified Energy (DEC LN)</a> are the top two addition candidates for Next 250 (footsie 250), replacing <a href="https://www.smartkarma.com/entities/pz-cussons-plc" target="_blank" data-smartkarma-citation="entities:22102:1" rel="noopener">PZ Cussons (PZC LN)</a> and <a href="https://www.smartkarma.com/entities/close-brothers-group-plc" target="_blank" data-smartkarma-citation="entities:21866:1" rel="noopener">Close Brothers (CBG LN)</a>.</li>
</ul>



Alliance Witan (ALW LN) is the main candidate for addition in Top 100 (footsie 100) replacing Vistry Group (VTY LN) whose price recently plummeted more than 50%.

St James's Place (STJ LN) is the next candidate for addition in Top 100 replacing Frasers Group (FRAS LN) with both stocks being extremely close to the entry-exit rank.

Metro Bank (MTRO LN) and Diversified Energy (DEC LN) are the top two addition candidates for Next 250 (footsie 250), replacing PZ Cussons (PZC LN) and Close Brothers (CBG LN).


FOOTSIE UK December 2024 Forecasts: ALW and STJ for Top 100; MTRO and DEC for Next 250

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<li>
<a href="https://www.smartkarma.com/entities/arm-holdings-inc" target="_blank" data-smartkarma-citation="entities:21816:1" rel="noopener">ARM Holdings (ARM US)</a> has secured a place in the index and is no longer a deletion candidate thanks to the recent methodology changes.</li>
<li>
<a href="https://www.smartkarma.com/entities/applovin-corp" target="_blank" data-smartkarma-citation="entities:32989:1" rel="noopener">AppLovin (APP US)</a> and <a href="https://www.smartkarma.com/entities/microstrategy-inc-cl-a" target="_blank" data-smartkarma-citation="entities:14717:1" rel="noopener">Microstrategy Inc Cl A (MSTR US)</a> are the main candidates for direct addition following their recent stock price surge.</li>
<li>
<a href="https://www.smartkarma.com/entities/dollar-tree-inc" target="_blank" data-smartkarma-citation="entities:10913:1" rel="noopener">Dollar Tree Inc (DLTR US)</a> is the favorable candidate for direct deletion in December with an additional but negligible probability of fast-exit in November.</li>
</ul>



ARM Holdings (ARM US) has secured a place in the index and is no longer a deletion candidate thanks to the recent methodology changes.

AppLovin (APP US) and Microstrategy Inc Cl A (MSTR US) are the main candidates for direct addition following their recent stock price surge.

Dollar Tree Inc (DLTR US) is the favorable candidate for direct deletion in December with an additional but negligible probability of fast-exit in November.


Nasdaq100 December 2024 Forecasts (Part 2): APP & MSTR Poised for Entry; DLTR & SMCI Set for Exit