S&P 500 Reshuffle: Bloom Energy, Everpure, and Illumina Replace Three Major Companies Effective September 21, 2026
Key Takeaways
- •Bloom Energy, Everpure, and Illumina join the S&P 500 before market open on September 21, 2026, replacing Molson Coors, The Trade Desk, and Builders FirstSource.
- •The three departing S&P 500 companies no longer meet the large-cap benchmark's market capitalization requirements and move to the S&P SmallCap 600.
- •All four new S&P 100 entrants—Dell Technologies, Palo Alto Networks, Arista Networks, and Sandisk—are information technology firms, while none of the departing members represent that sector.
- •Illumina is returning to the S&P 500 after previously leaving the index following its 2014 GRAIL spin-off and a decline in market capitalization.
- •Index inclusion typically prompts mechanical buying from passive funds and ETFs, though membership itself does not change a company's underlying fundamentals.
Key Highlights
Three new companies—Bloom Energy, Everpure, and Illumina—will enter the S&P 500 index effective September 21, 2026.
Molson Coors Beverage, The Trade Desk, and Builders FirstSource are being demoted to the S&P SmallCap 600.
The departing trio no longer meets the market capitalization requirements for the large-cap benchmark.
Four technology firms—Dell Technologies, Palo Alto Networks, Arista Networks, and Sandisk—are joining the S&P 100.
Four companies—Honeywell Aerospace, Nike, Simon Property Group, and Colgate-Palmolive—are leaving the S&P 100.
Three companies are set to enter the S&P 500 following the quarterly rebalancing announced by S&P Dow Jones Indices. The changes take effect prior to the opening bell on Monday, September 21, 2026. The index provider announced the composition changes on Friday, emphasizing its commitment to keeping each benchmark aligned with its target market capitalization tier. S&P Dow Jones Indices conducts these quarterly rebalancing reviews of its U.S. indices, adjusting membership so that each benchmark continues to track its designated size segment of the market.
New Additions and Departures from the S&P 500
Bloom Energy, a producer of fuel-cell power systems for commercial enterprises and data facilities, replaces Molson Coors Beverage, the beverage giant behind popular brands such as Coors Light and Miller Lite. Bloom Energy's inclusion highlights the growing electricity demands of data centers, an infrastructure challenge that has drawn investment across the power-generation industry as computing workloads expand.
Everpure, which specializes in data storage and management technologies, will take the spot currently held by The Trade Desk, a prominent provider of programmatic advertising platform solutions.
Illumina, known for its DNA sequencing and genomics technology, will displace Builders FirstSource, a major distributor of construction materials serving the U.S. home-building market. Illumina is a returning constituent: the company was previously part of the index before its 2014 spin-off of the cancer-diagnostics firm GRAIL and a subsequent period of market-capitalization decline.
The three exiting firms are being relegated to the S&P SmallCap 600. Both Everpure and Illumina are being promoted from the S&P MidCap 400 into the large-capitalization S&P 500.
The reshuffle adds one constituent each to the information technology and healthcare sectors, while the consumer staples and communication services sectors each lose one member.
Technology Dominance Grows in the S&P 100
The S&P 100 index, which represents America's mega-cap companies, is also undergoing significant composition changes. Dell Technologies, Palo Alto Networks, Arista Networks, and Sandisk are all being elevated to this elite benchmark, replacing Honeywell Aerospace, Nike, Simon Property Group, and Colgate-Palmolive. Notably, all four incoming constituents belong to the information technology sector, while none of the departing companies represent that industry. The shift reflects the broader transformation in which technology enterprises increasingly occupy the upper echelons of market capitalization rankings—a trend visible in sector weightings of major benchmarks over recent years, where technology-related companies account for a substantially larger share of the S&P 500 than they did a decade ago.
Index inclusion typically triggers mechanical buying from passive funds and ETFs that must replicate the benchmark composition, while deletions force these funds to liquidate positions—dynamics that can produce price movements. Such effects often appear in the days before official implementation as sophisticated investors position ahead of anticipated fund flows. Index membership itself, however, does not alter a company's fundamental operations or profitability trajectory. For the affected companies, the more practical significance lies in visibility: S&P 500 membership broadens the universe of funds and institutional portfolios eligible to hold the shares, while removal can reduce that exposure. Trillions of dollars are benchmarked to or track S&P indices, making these periodic reshuffles routine but closely watched events in the market calendar.
Additional changes in this quarterly adjustment include HubSpot, AGNC Investment, Corcept Therapeutics, and Brinker International ascending to the S&P MidCap 400. Boston Beer and Capri Holdings are being downgraded from the S&P MidCap 400 to the S&P SmallCap 600. The SmallCap 600 will welcome Herc Holdings, Delek US Holdings, and several other additions. According to S&P, the companies being removed from that index have outgrown the small-capitalization classification of the U.S. stock market.
Every modification spanning the S&P 500, S&P 100, S&P MidCap 400, and S&P SmallCap 600 indices will be implemented before market open on September 21, 2026.
Source: Blockonomi
