10 New Contenders for S&P 500 Index

7. SoFi Technologies, Inc. (NASDAQ:SOFI)

Number of Hedge Fund Holders: 56

SoFi Technologies, Inc. (NASDAQ:SOFI) is one of the 10 new contenders for S&P 500 Index.

SoFi Technologies, Inc. (NASDAQ:SOFI) announced the launch of a new, fully digital Home Equity Line of Credit (HELOC) experience on April 22, 2026. This new launch allows members to access equity directly via the SoFi platform. Along with this digital expansion, the company introduced its first Real Estate Advisory Council. Under the council, the company partners with over 50 leaders from top real estate markets to optimize product innovation and market strategy. Eric Schuppenhauer, EVP of Borrow at SoFi Technologies, Inc. (NASDAQ:SOFI), stated:

By partnering with agents through our Real Estate Advisory Council, we’re combining their deep expertise with SoFi’s technology to help members achieve their ambitions, while giving agents the tools to better support their clients.

Prior to this, on April 15, 2026, Argus, an independent investment research firm, initiated coverage of SoFi Technologies, Inc. (NASDAQ:SOFI) with a Hold rating. As of April 24, 2026, CNN reported that 31% of 26 analysts covering the stock have assigned a Buy rating, with a 1-year average upside potential of 18.05%.

Founded in 2011, SoFi Technologies, Inc. (NASDAQ:SOFI) is a digital financial services platform headquartered in California. The company offers a diverse range of products, including student and personal loan refinancing, mortgages, high-yield savings, and investment tools through its nationally chartered bank.