Are the deletions of HSII and VTLE from the S&P SmallCap 600 related to acquisitions?

Yes; Heidrick & Struggles (HSII) and Vital Energy (VTLE) are deleted amid announced acquisition transactions expected to close soon. According to S&P Dow Jones Indices, both deletions are tied to pending deals subject to final closing conditions.

Ares Management Set to Join S&P 500; Sezzle and Vital Farms to Join S&P SmallCap 600

Q: Which companies join the S&P SmallCap 600 on Dec 11 and Dec 15, 2025?

Vital Farms (VITL) joins on Dec 11, 2025 and Sezzle (SEZL) joins on Dec 15, 2025 . According to S&P Dow Jones Indices, those additions replace Heidrick & Struggles (HSII) and Vital Energy (VTLE), respectively.

Rhea-AI Impact

(Moderate)

Rhea-AI Sentiment

(Neutral)

Rhea-AI Summary

S&P Dow Jones Indices announced index rebalances effective prior to the open on Dec 11 and Dec 15, 2025. Ares Management (ARES) will join the S&P 500 replacing Kellanova (K) on Dec 11. Vital Farms (VITL) and Sezzle (SEZL) will join the S&P SmallCap 600 on Dec 11 and Dec 15, replacing Heidrick & Struggles (HSII) and Vital Energy (VTLE) respectively. Several deletions follow announced acquisition transactions that are expected to close pending final conditions.

Positive

Ares Management (ARES) added to S&P 500 on Dec 11, 2025
Vital Farms (VITL) added to S&P SmallCap 600 on Dec 11, 2025
Sezzle (SEZL) added to S&P SmallCap 600 on Dec 15, 2025

Negative

Kellanova (K) removed from S&P 500 on Dec 11, 2025
Heidrick & Struggles (HSII) removed from S&P SmallCap 600 on Dec 11, 2025
Vital Energy (VTLE) removed from S&P SmallCap 600 on Dec 15, 2025

News Market Reaction – CRGY

-0.50%

-0.50% Session close to close

In the Dec 9 session, CRGY declined 0.50%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights upcoming S&P index changes, including Crescent Energy’s role as the acq...

Analysis

This announcement highlights upcoming S&P index changes, including Crescent Energy’s role as the acquirer of Vital Energy, which will be removed from the S&P SmallCap 600. For CRGY, this sits alongside a recent pattern of capital-structure moves and earnings updates, as well as notable derivative cash settlements disclosed in regulatory filings. Investors may watch how the Vital Energy transaction closes, subsequent production and cash-flow trends, and future filings detailing hedge impacts and balance-sheet evolution.

Key Figures

Index change effective date: Dec 11, 2025 Index change effective date: Dec 15, 2025

2 metrics

Index change effective date Dec 11, 2025 Ares, Kellanova, Vital Farms, Heidrick & Struggles changes effective

Index change effective date Dec 15, 2025 Sezzle and Vital Energy changes effective

Historical Context

5 past events · Latest: Apr 09 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Apr 09	Earnings call scheduled	Neutral	+0.7%	Set timing for Q1 2026 earnings release and investor call.
Mar 03	Convert notes pricing	Neutral	+2.4%	Priced upsized $600M 2.75% convertible senior notes due 2031.
Mar 02	Convert notes offering	Negative	-6.4%	Announced $400M convertible notes offering to refinance 9.25% 2028 notes.
Feb 25	Earnings results	Positive	+5.0%	Reported Q4 and full-year 2025 results and hosted investor call.
Jan 12	Earnings call scheduled	Neutral	+2.2%	Scheduled Q4/FY 2025 earnings release and outlook discussion.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

CRGY has generally shown aligned price reactions to financing and earnings-related announcements, with even neutral scheduling and conference updates often seeing modest positive moves.

Recent Company History

Over the last few months, CRGY’s news flow has centered on capital structure actions and earnings cadence. It announced and then upsized a convertible notes private placement in early March 2026, with mixed but mostly positive price reactions. Earnings releases and scheduling updates in January–February 2026 also saw aligned, often positive, moves. Against this backdrop, the index-related update referencing CRGY as an acquirer of Vital Energy fits into an ongoing pattern of strategic and financial positioning.

Key Terms

s&p 500, s&p smallcap 600, gics sector, nyse

4 terms

s&p 500 financial

"Ares Management (NYSE: ARES) will replace Kellanova (NYSE: K) in the S&P 500"

The S&P 500 is a broad stock market index that tracks the performance of 500 large U.S. companies, weighted so bigger firms have a larger impact. Investors use it like a thermometer or benchmark to judge how the overall U.S. stock market or a portfolio is doing; movements in the index influence investor sentiment, fund performance, and many passive investment products that aim to match its returns.

View in glossary

s&p smallcap 600 financial

"Vital Farms Inc. (NASD: VITL) will replace Heidrick & Struggles Intl Inc. (NASD: HSII) in the S&P SmallCap 600"

A stock market index made up of 600 small-cap U.S. companies chosen to represent the performance of smaller publicly traded firms. It matters to investors because it acts like a temperature gauge for the small-company segment of the market, serving as a benchmark for fund managers, a basis for index funds and ETFs, and a way to compare returns and risk when building a diversified portfolio.

gics sector financial

GICS sector is one of the major industry groupings from the Global Industry Classification Standard, a system that sorts companies into consistent categories (like Technology or Health Care) based on the primary business they do. Investors use these sectors like folders in a filing cabinet to compare companies, build diversified portfolios, and track how whole parts of the market are performing rather than focusing on single stocks.

nyse financial

"Ares Management (NYSE: ARES) will replace Kellanova (NYSE: K)"

A large, regulated marketplace where stocks and other securities are listed and traded, acting like a global auction house that matches buyers and sellers and helps determine share prices. It matters to investors because listing and trading there provide liquidity, price discovery, and regulatory oversight—making it easier to buy or sell holdings and giving companies a visible platform that can affect credibility and access to capital.

View in glossary

AI-generated analysis. How Rhea-AI works. Not financial advice.

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12/08/2025 - 05:57 PM

NEW YORK, Dec. 8, 2025 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 500 and S&P SmallCap 600:

Ares Management (NYSE: ARES) will replace Kellanova (NYSE: K) in the S&P 500 effective prior to the open of trading on Thursday, December 11. Mars Inc. is acquiring Kellanova in a deal expected to close soon, pending final closing conditions.
Vital Farms Inc. (NASD: VITL) will replace Heidrick & Struggles Intl Inc. (NASD: HSII) in the S&P SmallCap 600 effective prior to the opening of trading on Thursday, December 11. Advent International and Corvex Private Equity are acquiring Heidrick & Struggles Intl in a deal expected to be completed soon, pending final closing conditions.
Sezzle Inc. (NASD: SEZL) will replace Vital Energy Inc. (NYSE: VTLE) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, December 15. S&P SmallCap 600 constituent Crescent Energy Co. (NYSE: CRGY) is acquiring Vital Energy in a deal expected to close soon, pending final closing conditions.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date	Index Name		Action	Company Name	Ticker	GICS Sector
Dec 11, 2025	S&P 500	Addition		Ares Management	ARES	Financials
Dec 11, 2025	S&P 500	Deletion		Kellanova	K	Consumer Staples
Dec 11, 2025	S&P SmallCap 600	Addition		Vital Farms	VITL	Consumer Staples
Dec 11, 2025	S&P SmallCap 600	Deletion		Heidrick & Struggles Intl	HSII	Industrials
Dec 15, 2025	S&P SmallCap 600	Addition		Sezzle	SEZL	Financials
Dec 15, 2025	S&P SmallCap 600	Deletion		Vital Energy	VTLE	Energy

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/.

FOR MORE INFORMATION:

S&P Dow Jones Indices
index_services@spglobal.com

Media Inquiries
spdji.comms@spglobal.com

View original content:https://www.prnewswire.com/news-releases/ares-management-set-to-join-sp-500-sezzle-and-vital-farms-to-join-sp-smallcap-600-302635867.html

SOURCE S&P Dow Jones Indices

FAQ

When does Ares Management (ARES) join the S&P 500 and which company does it replace?

Ares Management (ARES) joins the S&P 500 prior to the open on Dec 11, 2025, replacing Kellanova (K). According to S&P Dow Jones Indices, the change is effective before trading opens on Dec 11, 2025, tied to a corporate acquisition of Kellanova.

Why is Kellanova (K) being removed from the S&P 500 on Dec 11, 2025?

Kellanova (K) is removed because it is being acquired, prompting the index deletion on Dec 11, 2025. According to S&P Dow Jones Indices, the removal follows the announced Mars Inc. acquisition, which is expected to close pending final conditions.

Which companies join the S&P SmallCap 600 on Dec 11 and Dec 15, 2025?

Vital Farms (VITL) joins on Dec 11, 2025 and Sezzle (SEZL) joins on Dec 15, 2025. According to S&P Dow Jones Indices, those additions replace Heidrick & Struggles (HSII) and Vital Energy (VTLE), respectively.

Will the index changes affect trading dates for ARES, VITL, SEZL in December 2025?

The changes take effect prior to the open on Dec 11 and Dec 15, 2025, impacting index inclusion from those trading days. According to S&P Dow Jones Indices, additions and deletions are effective before market open on the stated dates.