AppLovin, Robinhood Markets and Emcor Group Set to Join S&P 500 — S&P Dow Jones Indices (September 5, 2025)
Summary
A press release from S&P Dow Jones Indices dated September 5, 2025 announcing that AppLovin, Robinhood Markets and Emcor Group are set to join the S&P 500, with other changes to the S&P 100, S&P MidCap 400 and S&P SmallCap 600. The changes take effect prior to the open of trading on Monday, September 22, to coincide with the quarterly rebalance. AppLovin Corp., Robinhood Markets Inc. and Emcor Group Inc. replace MarketAxess Holdings Inc., Caesars Entertainment Inc. and Enphase Energy Inc. in the S&P 500, and Uber Technologies Inc. replaces Charter Communications Inc. in the S&P 100. A table lists each addition and deletion by index, ticker and GICS sector.
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“AppLovin, Robinhood Markets and Emcor Group Set to Join S&P 500 — S&P Dow Jones Indices (September 5, 2025).”
Original at www.spglobal.com. Archived at Pandemic Darlings on 2026-09-30, https://pandemicdarlings.com/source-documents/1479730-sept2025-1500rebalance-a3599e5e41bfce22-wayback-3fc8b38de2/
, SHA-256 841978e04f48f24dad372591e449c0ff5186403757109422d5d0cece9e80db5b.Full text
PRESS RELEASE
AppLovin, Robinhood Markets and Emcor Group Set
to Join S&P 500; Others to Join S&P 100, S&P
MidCap 400 and S&P SmallCap 600
NEW YORK, September 5, 2025: S&P Dow Jones Indices (“S&P DJI”) will make the following changes
to the S&P 100, S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open
of trading on Monday, September 22, to coincide with the quarterly rebalance. The changes ensure
each index is more representative of its market capitalization range. The companies being removed
from the S&P SmallCap 600 are no longer representative of the small-cap market space.
• Uber Technologies Inc. (NYSE: UBER) will replace Charter Communications Inc. (NASD:
CHTR) in the S&P 100. Charter Communications will remain in the S&P 500.
• AppLovin Corp. (NASD: APP), Robinhood Markets Inc. (NASD: HOOD) and S&P MidCap 400
constituent Emcor Group Inc. (NYSE: EME) will replace MarketAxess Holdings Inc. (NASD:
MKTX), Caesars Entertainment Inc. (NASD: CZR), and Enphase Energy Inc. (NASD: ENPH) in
the S&P 500, respectively. S&P SmallCap 600 constituents MP Materials Corp. (NYSE: MP)
and Kratos Defense & Security Solutions Inc. (NASD: KTOS) will replace Emcor Group and The
Wendy’s Company (NASD: WEN) in the S&P MidCap 400, respectively. MarketAxess Holdings,
Caesars Entertainment, Enphase Energy and The Wendy’s Company will replace ProPetro
Holdings Corp. (NYSE: PUMP), Xerox Holdings (NASD: XRX), MP Materials Corp, and Kratos
Defense & Security Solutions in the S&P SmallCap 600, respectively.
• Nutanix Inc. (NASD: NTNX) and TransUnion (NYSE: TRU) will replace Acadia Healthcare
Company Inc. (NASD: ACHC) and ManpowerGroup Inc. (NYSE: MAN) in the S&P MidCap 400,
respectively. Acadia Healthcare and ManpowerGroup will replace TechTarget Inc. (NASD:
TTGT) and Mesa Laboratories Inc. (NASD: MLAB) in the S&P SmallCap 600, respectively.
• Noble Corporation plc (NYSE: NE), Q2 Holdings Inc. (NYSE: QTWO), Waystar Holding Corp.
(NASD: WAY) and Hecla Mining Co. (NYSE: HL) will replace Owens & Minor Inc. (NYSE: OMI),
B&G Food Inc. (NYSE: BGS), Jack in the Box Inc. (NASD: JACK) and Simulations Plus Inc.
(NASD: SLP) in the S&P SmallCap 600, respectively.
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
Sept 22, 2025 S&P 100 Addition Uber Technologies UBER Industrials
Sept 22, 2025 S&P 100 Deletion Charter Communications CHTR Communications Services
Sept 22, 2025 S&P 500 Addition AppLovin APP Information Technology
Sept 22, 2025 S&P 500 Addition Robinhood Markets HOOD Financials
Sept 22, 2025 S&P 500 Addition Emcor Group EME Industrials
Sept 22, 2025 S&P 500 Deletion MarketAxess Holdings MKTX Financials
Sept 22, 2025 S&P 500 Deletion Caesars Entertainment CZR Consumer Discretionary
Sept 22, 2025 S&P 500 Deletion Enphase Energy ENPH Information Technology
Sept 22, 2025 S&P MidCap 400 Addition Nutanix NTNX Information Technology
Sept 22, 2025 S&P MidCap 400 Addition TransUnion TRU Industrials
Sept 22, 2025 S&P MidCap 400 Addition MP Materials MP Materials
Kratos Defense & Security
Sept 22, 2025 S&P MidCap 400 Addition KTOS Industrials
Solutions
Sept 22, 2025 S&P MidCap 400 Deletion Emcor Group EME Industrials
Sept 22, 2025 S&P MidCap 400 Deletion The Wendy's Company WEN Consumer Discretionary
Sept 22, 2025 S&P MidCap 400 Deletion Acadia Healthcare Company ACHC Health Care
Sept 22, 2025 S&P MidCap 400 Deletion ManpowerGroup MAN Industrials
Sept 22, 2025 S&P SmallCap 600 Addition MarketAxess Holdings MKTX Financials
Sept 22, 2025 S&P SmallCap 600 Addition Caesars Entertainment CZR Consumer Discretionary
Sept 22, 2025 S&P SmallCap 600 Addition Enphase Energy ENPH Information Technology
Sept 22, 2025 S&P SmallCap 600 Addition The Wendy's Company WEN Consumer Discretionary
Sept 22, 2025 S&P SmallCap 600 Addition Acadia Healthcare Company ACHC Health Care
Sept 22, 2025 S&P SmallCap 600 Addition ManpowerGroup MAN Industrials
Sept 22, 2025 S&P SmallCap 600 Addition Noble Corporation NE Energy
Sept 22, 2025 S&P SmallCap 600 Addition Q2 Holdings QTWO Information Technology
Sept 22, 2025 S&P SmallCap 600 Addition Waystar Holding WAY Health Care
Sept 22, 2025 S&P SmallCap 600 Addition Hecla Mining HL Materials
Sept 22, 2025 S&P SmallCap 600 Deletion MP Materials MP Materials
Kratos Defense & Security
Sept 22, 2025 S&P SmallCap 600 Deletion KTOS Industrials
Solutions
Sept 22, 2025 S&P SmallCap 600 Deletion ProPetro Holding PUMP Energy
Sept 22, 2025 S&P SmallCap 600 Deletion Xerox Holdings XRX Information Technology
Sept 22, 2025 S&P SmallCap 600 Deletion TechTarget TTGT Communication Services
Sept 22, 2025 S&P SmallCap 600 Deletion Mesa Laboratories MLAB Health Care
Sept 22, 2025 S&P SmallCap 600 Deletion Owens & Minor OMI Health Care
Sept 22, 2025 S&P SmallCap 600 Deletion B&G Foods BGS Consumer Staples
Sept 22, 2025 S&P SmallCap 600 Deletion Jack in the Box JACK Consumer Discretionary
Sept 22, 2025 S&P SmallCap 600 Deletion Simulations Plus SLP Health Care
For more information about S&P Dow Jones Indices, please visit www.spdji.com
PRESS RELEASE
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.spdji.com.
FOR MORE INFORMATION:
S&P Dow Jones Indices
index_services@spglobal.com
Media Inquiries
spdji.comms@spglobal.com
PRESS RELEASE
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