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Honeywell Aerospace Set to Join S&P 500 & S&P 100; Others to Join S&P MidCap 400 and S&P SmallCap 600

Honeywell Aerospace joins S&P 500 and 100 as spin-off completes

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  <section data-block="information">
    <h3>Information</h3>
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  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>S&amp;P Dow Jones Indices announced index reconstitutions effective June 29–30, 2026. Honeywell Aerospace will be added to the S&amp;P 500 and S&amp;P 100 as the spin-off from Honeywell completes; Honeywell International will be renamed Honeywell Technologies Inc and remain in the S&amp;P 500. Additional adjustments include MidCap and SmallCap moves tied to acquisitions and corporate actions.</p>
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  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Honeywell Aerospace (HONA) to join S&amp;P 500 and 100; spin-off complete June 29.</li><li>HON renamed Honeywell Technologies Inc; remains in S&amp;P 500 after spin-off.</li><li>Toast (TOST) joins S&amp;P MidCap 400; TopBuild (BLD) exits.</li><li>IES Holdings (IESC) joins MidCap 400; Janus Henderson (JHG) exits.</li></ul>
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  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Honeywell Aerospace (HONA)</strong>: Added to S&amp;P 500 and 100; part of Honeywell spin-off.</li><li><strong>Honeywell International (HON)</strong>: Spin-off to HONA; renamed to Honeywell Technologies Inc; remains in S&amp;P 500.</li><li><strong>Conagra Brands (CAG)</strong>: Replaces Grid Dynamics in S&amp;P SmallCap 600.</li><li><strong>Grid Dynamics Holdings (GDYN)</strong>: Removed from S&amp;P SmallCap 600; not representative.</li><li><strong>Toast (TOST)</strong>: Added to S&amp;P MidCap 400; replacing TopBuild.</li><li><strong>TopBuild (BLD)</strong>: Removed from S&amp;P MidCap 400; acquisition by QXO pending close.</li></ul>
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  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>Category Type: Corporate Developments. The article details corporate spin-offs and index reclassifications affecting stock exposure and potential flows.</p>
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  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>HONA&#039;s S&amp;P inclusions may attract index-fund buying and ETF flows.</li><li>Spin-off completion June 29-30 could trigger short-term volatility in HON/HONA.</li><li>MidCap/SmallCap roster changes alter sector weights in Industrials, Real Estate.</li><li>QXO acquisition of TopBuild and JHG-related moves imply broader M&amp;A-driven cross-moves in related stocks.</li></ul>
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  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>June 29, 2026: HONA added to S&amp;P 500; replaces Conagra Brands in 500.</li><li>June 29, 2026: HONA added to S&amp;P 100; replaces HON in 100.</li><li>June 30, 2026: Conagra Brands (CAG) added to S&amp;P SmallCap 600; replaces Grid Dynamics (GDYN).</li><li>June 30, 2026: National Health Investors (NHI) added to SmallCap 600; replaces ARI.</li><li>July 1, 2026: Toast (TOST) added to S&amp;P MidCap 400; replaces TopBuild (BLD).</li><li>July 1, 2026: IES Holdings (IESC) added to MidCap 400; replaces Janus Henderson (JHG).</li></ul>
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  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>HONA is likely to benefit from index inclusion; expect modest near-term buying pressure over 1–3 months.</p>
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<article>
  <p>NEW YORK, June 23, 2026 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 500, S&P 100, S&P MidCap 400, and S&P SmallCap 600. The announcements center on Honeywell Aerospace’s inclusion, a spin-off from Honeywell International, and additional index reconstitutions affecting several mid- and small-cap names.</p>

  <section>
    <h2>Key index changes involving HON and related components</h2>
    <ul>
      <li><strong>Honeywell Aerospace Inc.</strong> (NASD: <strong>HONA</strong>) will be added to the <strong>S&P 500</strong> &amp; <strong>S&P 100</strong> on <strong>Monday, June 29</strong>. Honeywell Aerospace will replace Conagra Brands Inc. (NYSE: <strong>CAG</strong>) in the <strong>S&P 500</strong>, and Conagra Brands will replace Grid Dynamics Holdings Inc. (NASD: <strong>GDYN</strong>) in the <strong>S&P SmallCap 600</strong> effective prior to the opening of trading on <strong>Tuesday, June 30</strong>. Honeywell Aerospace will replace Honeywell International Inc. (NASD: <strong>HON</strong>) in the <strong>S&P 100</strong> effective prior to the opening of trading on <strong>Tuesday, June 30</strong>. Honeywell International is spinning off Honeywell Aerospace in a transaction expected to be completed on <strong>June 29</strong>. Post spin-off Honeywell International will be renamed Honeywell Technologies Inc. and will remain in the <strong>S&P 500</strong>. Honeywell Aerospace will be more representative of the mega capitalization space. Conagra Brands is more representative of the small capitalization space. Grid Dynamics Holdings is no longer representative of the small capitalization space.</li>
      <li><strong>National Health Investors Inc.</strong> (NYSE: <strong>NHI</strong>) will replace Apollo Commercial Real Estate Finance Inc. (NYSE: <strong>ARI</strong>) in the <strong>S&P SmallCap 600</strong> effective prior to the opening of trading on <strong>Tuesday, June 30</strong>. Apollo Commercial Real Estate Finance has announced ongoing liquidation activities and is no longer appropriate for the <strong>S&P SmallCap 600</strong>.</li>
      <li><strong>Toast Inc.</strong> (NYSE: <strong>TOST</strong>) will replace TopBuild Corp. (NYSE: <strong>BLD</strong>) in the <strong>S&P MidCap 400</strong> effective prior to the opening of trading on <strong>Wednesday, July 1</strong>. QXO Inc. (NYSE: <strong>QXO</strong>) is acquiring TopBuild in a deal expected to close soon, pending final closing conditions.</li>
      <li><strong>IES Holdings Inc.</strong> (NASD: <strong>IESC</strong>) will replace Janus Henderson Group plc. (NYSE: <strong>JHG</strong>) in the <strong>S&P MidCap 400</strong> effective prior to the opening of trading on <strong>Wednesday, July 1</strong>. Trian Fund Management LP and General Catalyst Group Management are acquiring Janus Henderson Group in a deal expected to close soon, pending final closing conditions.</li>
    </ul>
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  <section>
    <h2>Context and implications of the changes</h2>
    <p>These changes reflect ongoing realignment within the mega-cap, large-cap, and mid/small-cap segments as the index providers adjust to company spin-offs, acquisitions, and shifts in market capitalization. The spin-off of Honeywell Aerospace from Honeywell International, with Honeywell International renamed Honeywell Technologies Inc. and remaining in the S&amp;P 500, is a central driver of the new S&amp;P composition. The adjustments to Conagra Brands, Grid Dynamics Holdings, and other constituents illustrate the broader aim to maintain representative baskets across market segments.</p>

    <p>In addition to the Honeywell-related changes, the changes to the S&amp;P SmallCap 600 and S&amp;P MidCap 400 reflect ongoing corporate activity, including liquidations and acquisitions. These moves are designed to keep the index coverage aligned with current market capitalizations and issuer characteristics, ensuring the indices continue to reflect the investable universe they are intended to represent.</p>
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  <section>
    <h2>Summary of changes and practical details</h2>
    <p>Following is a summary of the changes that will take place prior to the open of trading on the effective date:</p>
    <ul>
      <li><strong>Effective Date: June 29, 2026</strong> — S&amp;P 100: Addition of Honeywell Aerospace (<strong>HONA</strong>); Action: Addition. Company: Honeywell Aerospace.</li>
      <li><strong>Effective Date: June 29, 2026</strong> — S&amp;P 500: Addition of Honeywell Aerospace (<strong>HONA</strong>); Action: Addition. Company: Honeywell Aerospace; Replaces: Conagra Brands (<strong>CAG</strong>). </li>
      <li><strong>Effective Date: June 30, 2026</strong> — S&amp;P 100: Deletion of Honeywell International (<strong>HON</strong>); Action: Deletion. Company: Honeywell International.</li>
      <li><strong>Effective Date: June 30, 2026</strong> — S&amp;P SmallCap 600: Deletion of Grid Dynamics Holdings (<strong>GDYN</strong>); Addition: Conagra Brands (<strong>CAG</strong>) replacing Grid Dynamics.</li>
      <li><strong>Effective Date: June 30, 2026</strong> — S&amp;P SmallCap 600: Consolidated changes involving Apollo Commercial Real Estate Finance (<strong>ARI</strong>) replaced by National Health Investors (<strong>NHI</strong>).</li>
      <li><strong>Effective Date: July 1, 2026</strong> — S&amp;P MidCap 400: Addition of Toast Inc. (<strong>TOST</strong>) replacing TopBuild Corp. (<strong>BLD</strong>); Acquisition context: QXO Inc. (<strong>QXO</strong>) is acquiring TopBuild, with closing pending.</li>
      <li><strong>Effective Date: July 1, 2026</strong> — S&amp;P MidCap 400: Addition of IES Holdings (<strong>IESC</strong>) replacing Janus Henderson Group plc. (<strong>JHG</strong>); Acquisition context: Trian Fund Management LP and General Catalyst Group Management are acquiring Janus Henderson Group, with closing pending.</li>
    </ul>
  </section>

  <section>
    <h3>About HON and related tickers</h3>
    <p>The promotions and replacements involve several tickers associated with the companies in the S&amp;P indices. Notably, <strong>HON</strong> and <strong>HONA</strong> appear in the changes tied to Honeywell’s corporate actions, while other tickers cited include <strong>CAG</strong>, <strong>GDYN</strong>, <strong>ARI</strong>, <strong>NHI</strong>, <strong>BLD</strong>, <strong>TOST</strong>, <strong>QXO</strong>, <strong>JHG</strong>, and <strong>IESC</strong>.</p>
  </section>

  <section>
    <p>Source: PRNewswire. This overview covers the announced index reconstitutions affecting HON-related components and other constituents across the S&amp;P 500, S&amp;P 100, S&amp;P MidCap 400, and S&amp;P SmallCap 600, with changes taking effect before market open on the dates noted above.</p>
  </section>
</article>

S&P Dow Jones Indices announced index reconstitutions effective June 29–30, 2026. Honeywell Aerospace will be added to the S&P 500 and S&P 100 as the spin-off from Honeywell completes; Honeywell International will be renamed Honeywell Technologies Inc and remain in the S&P 500. Additional adjustments include MidCap and SmallCap moves tied to acquisitions and corporate actions.

Honeywell Aerospace Set to Join S&P 500 & S&P 100; Others to Join S&P MidCap 400 and S&P SmallCap 600

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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