Honeywell Aerospace enters the S&P 500 on June 29 — the headline move in a small batch of changes spanning two indexes effective the final days of June 2026.
S&P 500
In: Honeywell Aerospace (HONA), effective June 29 Out: ConAgra Foods (CAG), effective June 30
Honeywell Aerospace takes the slot; ConAgra exits just a day later, so there's a brief one-day overlap worth watching for anyone tracking the index's sector weights.
S&P 600 (Small Cap)
In: NETSTREIT (NTST), effective June 29 Out: ProAssurance Corporation (PRA), effective June 29
NETSTREIT is a net-lease REIT, so its addition nudges the S&P 600's real estate weight up slightly. ProAssurance, a specialty insurance company, comes out the same day.
Why any of this matters: index funds and ETFs tracking these benchmarks are effectively forced to buy every addition and sell every deletion around the effective date. That mechanical demand — not a fundamental view on the business — is what drives the well-documented price pop in newly added names and the drift lower in removed ones. The effect is usually sharpest in smaller, less liquid stocks, which makes the NTST and PRA swap in the S&P 600 worth watching more closely than the larger-cap S&P 500 moves.