Index update: Ferguson and Reddit join, Vivmark replaces Equity Residential, and three more on the way

The summer wasn't quiet. Two S&P 500 constituents disappeared through deals in August, a third changed its name and ticker, and S&P Dow Jones Indices has now published the September quarterly rebalance. Here's everything that changed — and what's about to.

August 5: Ferguson replaces Electronic Arts

Electronic Arts (EA)left the index on August 5, the day after its acquisition by a consortium of Saudi Arabia's Public Investment Fund, Silver Lake, and Affinity Partners closed. At $55 billion it's the largest leveraged buyout on record, and it ends EA's 24-year run as a constituent — it had been in the index since July 2002.

Its slot went to Ferguson Enterprises (FERG), the Newport News, Virginia–based plumbing and HVAC distributor. Ferguson moved its primary listing from London to the NYSE in 2022 and redomiciled to the U.S. in 2024, which made it eligible for the first time.

August 18: Reddit replaces AvalonBay, Equity Residential becomes Vivmark

Two of the largest apartment REITs in the country, Equity Residential (EQR) and AvalonBay Communities (AVB), completed their merger of equals on August 18. Because both were S&P 500 members, one seat opened up: AvalonBay was removed, and the combined company — renamed Vivmark Residential and trading as VMRK— carries on Equity Residential's membership.

The vacancy was filled by Reddit (RDDT), which joined the index a little over two years after its March 2024 IPO. It lands in the Communication Services sector alongside Meta, Alphabet, and Netflix.

Announced for September 21: three in, three out

On September 4, S&P announced the changes for the quarterly rebalance. All three are market-capitalization swaps, and all three take effect prior to the open on Monday, September 21:

• Bloom Energy (BE) replaces Molson Coors (TAP). The fuel-cell maker has ridden the data-center power boom into the large-cap universe; Molson Coors, one of the index's longest-tenured members, drops down to the S&P MidCap 400.
• Illumina (ILMN) replaces The Trade Desk (TTD). The gene-sequencing company returns to Health Care after being dropped in June 2024; The Trade Desk leaves after only 14 months — it joined in July 2025, one of the shortest stays in recent memory.
• Everpure (P) replaces Builders FirstSource (BLDR). If the name is unfamiliar, the company isn't: Everpure is the former Pure Storage, which changed its corporate name in February and its ticker from PSTG to the single letter P in April. It joins Information Technology.

Until September 21 these appear in a separate "announced" section at the top of the S&P 500 changes page; they move into the permanent log once they take effect. If you want to know when the next round is due, we've written up the full rebalance schedule for 2026 and 2027.

What this means for the pack

All six new logomarks — Ferguson, Reddit, Vivmark Residential, Bloom Energy, Illumina, and Everpure— are in the pack today, each drawn to the same grid and visual weight as the rest of the set, with both a trademark and a full-logo variant. The three September additions ship ahead of their effective date so they're ready the morning the rebalance lands. The EQR file has been renamed to VMRK with the new mark, and the old ticker URL redirects. As always, logos for departing companies (EA, AvalonBay, Molson Coors, The Trade Desk, Builders FirstSource) stay in the pack and their pages stay live, flagged as no longer in the index.

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