BrightSpring Health Services Set to Join S&P MidCap 400 and Karman Holdings to Join S&P SmallCap 600

Rhea-AI Summary

S&P Dow Jones Indices announced that BrightSpring Health Services (NASD: BTSG) will move from the S&P SmallCap 600 to the S&P MidCap 400, replacing Chart Industries (NYSE: GTLS), effective before the market opens on July 17, 2026. Karman Holdings (NYSE: KRMN) will join the S&P SmallCap 600, replacing BrightSpring on the same date. These index changes follow Baker Hughes (NASD: BKR) agreeing to acquire Chart Industries in a transaction expected to close on July 16, 2026, subject to final closing conditions.

Positive

• BrightSpring added to S&P MidCap 400 effective July 17, 2026
• Karman Holdings added to S&P SmallCap 600 effective July 17, 2026
• Baker Hughes to acquire Chart Industries with closing expected July 16, 2026

Negative

• Chart Industries removed from S&P MidCap 400 as it is acquired by Baker Hughes
• BrightSpring removed from S&P SmallCap 600 as it moves into the MidCap 400

News Market Reaction – SPGI

+1.28%

+1.28% Session close to close

In the Jul 15 session, SPGI gained 1.28%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

Set against low reported short interest and recent insider net buying of 5,974 shares over 90 days, ...

Analysis

Set against low reported short interest and recent insider net buying of 5,974 shares over 90 days, this index rebalancing sits within a backdrop of generally constructive positioning. Investors may watch upcoming Q2 results and further index changes for incremental catalysts.

Key Figures

Effective date: July 17, 2026 Deal closing date: July 16 Index name: S&P MidCap 400 +3 more

6 metrics

Effective date July 17, 2026 Index changes for S&P MidCap 400 and S&P SmallCap 600

Deal closing date July 16 Expected close of Baker Hughes acquisition of Chart Industries

Index name S&P MidCap 400 BrightSpring Health Services to be added

Index name S&P SmallCap 600 Karman Holdings to be added; BrightSpring deleted

Index name S&P 500 Index including Baker Hughes, acquirer of Chart Industries

First index year 1884 Year Charles Dow invented the first index

Historical Context

5 past events · Latest: Jul 09 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 09	Index change notice	Neutral	-0.6%	Solaris Energy Infrastructure added to S&P SmallCap 600, replacing Catalyst Pharmaceuticals.
Jul 06	Earnings call scheduling	Neutral	+1.7%	Company scheduled Q2 2026 earnings release and conference call for July 28.
Jul 06	Pro forma results	Positive	+1.7%	Published pro forma and recast financials excluding spun-off Mobility division.
Jul 06	Operating model change	Positive	+1.7%	Redesigned Market Intelligence operating model and announced leadership changes.
Jul 02	Index additions notice	Neutral	+1.7%	Midera Food Processing and Centrus Energy set to join S&P SmallCap 600.

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

Pattern Detected

Recent index and corporate-structure announcements have more often coincided with single-day gains for SPGI, with only one index-change-related headline aligning with a small decline.

Key Terms

s&p midcap 400, s&p smallcap 600, s&p 500, gics sector, +1 more

5 terms

s&p midcap 400 financial

"BrightSpring Health Services Inc. (NASD: BTSG) will replace Chart Industries Inc. (NYSE: GTLS) in the S&P MidCap 400"

The S&P MidCap 400 is a group of 400 companies that are smaller than the big, well-known corporations but larger than tiny startups. It helps investors see how medium-sized companies are performing in the stock market, acting like a barometer for this middle-sized group of businesses.

s&p smallcap 600 financial

"Karman Holdings Inc. (NYSE: KRMN) will replace BrightSpring Health Services 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.

s&p 500 financial

"S&P 500 constituent Baker Hughes Co. (NASD: BKR) is to acquire Chart Industries"

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

gics sector financial

"Effective Date | Index Name | Action | Company Name | Ticker | GICS Sector"

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.

dow jones industrial average financial

"home to iconic financial market indicators, such as the S&P 500 and the Dow Jones Industrial Average"

A stock market index that tracks the share prices of a small group of large, well-known companies to give a quick snapshot of how the broader market is doing. Think of it like a thermometer for the stock market: it uses a handful of heavyweight firms as representative samples to show whether investor sentiment is rising or falling, which helps investors gauge market trends and compare performance over time.

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

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NEW YORK, July 14, 2026 /PRNewswire/ -- S&P SmallCap 600 constituent BrightSpring Health Services Inc. (NASD: BTSG) will replace Chart Industries Inc. (NYSE: GTLS) in the S&P MidCap 400, and Karman Holdings Inc. (NYSE: KRMN) will replace BrightSpring Health Services in the S&P SmallCap 600 effective prior to the opening of trading on Friday, July 17. S&P 500 constituent Baker Hughes Co. (NASD: BKR) is to acquire Chart Industries in a deal expected to close July 16, 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
July 17, 2026	S&P MidCap 400	Addition		BrightSpring Health Services	BTSG	Health Care
July 17, 2026	S&P MidCap 400	Deletion		Chart Industries	GTLS	Industrials
July 17, 2026	S&P SmallCap 600	Addition		Karman Holdings	KRMN	Industrials
July 17, 2026	S&P SmallCap 600	Deletion		BrightSpring Health Services	BTSG	Health Care

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/brightspring-health-services-set-to-join-sp-midcap-400-and-karman-holdings-to-join-sp-smallcap-600-302825665.html

SOURCE S&P Dow Jones Indices

FAQ

What index change involves Baker Hughes (BKR) and Chart Industries (GTLS) on July 17, 2026?

Baker Hughes (BKR) is acquiring Chart Industries (GTLS), leading to Chart’s removal from the S&P MidCap 400 on July 17, 2026. According to S&P Dow Jones Indices, BrightSpring Health Services will replace Chart in the index.

Why is BrightSpring Health Services (BTSG) moving to the S&P MidCap 400 in July 2026?

BrightSpring Health Services (BTSG) will join the S&P MidCap 400 to replace Chart Industries following Chart’s acquisition by Baker Hughes. According to S&P Dow Jones Indices, the change is effective before the market opens on July 17, 2026.

When will Karman Holdings (KRMN) be added to the S&P SmallCap 600 index?

Karman Holdings (KRMN) will be added to the S&P SmallCap 600 on July 17, 2026. According to S&P Dow Jones Indices, Karman will replace BrightSpring Health Services, which is moving from the SmallCap 600 to the MidCap 400.

What does the Baker Hughes (BKR) acquisition of Chart Industries (GTLS) mean for index membership?

The Baker Hughes (BKR) acquisition of Chart Industries (GTLS) will remove Chart from the S&P MidCap 400. According to S&P Dow Jones Indices, BrightSpring will replace Chart in the MidCap 400, while Karman Holdings joins the SmallCap 600.

On what date will the S&P index changes for BTSG, GTLS and KRMN take effect?

The index changes for BrightSpring (BTSG), Chart Industries (GTLS) and Karman Holdings (KRMN) take effect July 17, 2026. According to S&P Dow Jones Indices, all actions occur before the opening of trading on that date.

Is the Baker Hughes (BKR) acquisition of Chart Industries (GTLS) already completed?

The Baker Hughes (BKR) acquisition of Chart Industries (GTLS) is not yet completed but is expected to close July 16, 2026. According to S&P Dow Jones Indices, the deal remains subject to final closing conditions.