BofA expects KKR and Apollo Global to be added to S&P 500 over next 6 months

After having hosted a meeting with BofA’s Emma Huang on the potential for S&P 500 additions, BofA analyst Craig Siegenthaler maintains the view that KKR (KKR) and Apollo Global (APO) will be the next names added to the S&P 500 Index from the analyst’s coverage universe following Blackstone’s (BX) September 2023 addition. However, the analyst believes Uber (UBER), which has a larger market cap than both PE firms, is the most likely candidate for the December rebalance and notes that after the December rebalance, the next quarterly rebalances are in March and June, followed by the big annual rebalance in September.