In this article, we will take a look at the 10 New Contenders for the S&P 500 Index.
Identifying new contenders for the S&P 500 has always attracted attention, as investors are constantly interested in the companies that may enter one of the most closely followed stock market benchmarks. The S&P 500 includes large, well-established companies, and by joining the index, these companies gain more visibility and investor interest in their stocks. And such visibility and interest take on new importance when uncertainty looms over the market.
That said, the macro environment remains volatile. On April 18, 2026, CNBC reported that global policymakers meeting at the IMF-World Bank discussions pointed to the ongoing conflict with Iran as a key concern for the economy. Pierre Gramegna from the European Stability Mechanism noted the visible impact on inflation and higher fuel prices.
The report also pointed out that with continuing conflict, inflation is bound to rise further, leading to a slowdown in economic growth. Sweden’s Finance Minister Elisabeth Svantesson said the full effects of the crisis are still unclear and could turn worse depending on how long it lasts. Energy supply remains another major concern, with leaders warning about shortages and rising costs in global markets. On the other hand, Verena Ross from the European Securities and Markets Authority said markets continue to function in an orderly way even amid this ongoing uncertainty.
Against this backdrop, by examining the contenders for the S&P 500 index, we can learn about companies that are adapting to changing economic conditions while meeting the size and profitability requirements for inclusion.
In this regard, we have compiled a list of 10 new contenders for the S&P 500 Index to support informed investment decisions.
Our Methodology
We have compiled a list of 10 new contenders for the S&P 500 Index by screening for stocks that are often mentioned by market experts as potential entrants in 2026. We ranked these stocks by the number of hedge funds holding a stake in each. The fourth-quarter hedge fund data available in the Insider Monkey database has been used for this purpose. We limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. All the pricing data are current as of market close on April 24, 2026.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
10. Southern Copper Corporation (NYSE:SCCO)
Number of Hedge Fund Holders: 37
Southern Copper Corporation (NYSE:SCCO) is one of the 10 new contenders for S&P 500 Index.
On April 15, 2026, Wells Fargo lowered its price target on Southern Copper Corporation (NYSE:SCCO) from $192 to $186. The firm’s analyst Timna Tanners kept an Equal Weight rating on the company’s stock. The update was part of the firm’s adjustments to the sector estimates, following elevated copper price forecasts driven by mine disruptions and rising costs.
Southern Copper Corporation (NYSE:SCCO) saw another adjustment to its price target this month. On April 23, 2026, Scotiabank raised the firm’s price target on Southern Copper (SCCO) to $133 from $125 while keeping an Underperform rating on the company’s stock. According to the firm’s analyst, Scotiabank increased its price-to-NAV multiple for the company’s Mexican open-pit assets. The research notes also told the investors that the firm maintains a cautious outlook, citing a lack of attractive upside to current valuation levels. Notably, Southern Copper Corporation (NYSE:SCCO) is the largest pure-play copper miner that is not yet part of the S&P 500 index.
Founded in 1952, Southern Copper Corporation (NYSE:SCCO) is one of the world’s largest integrated copper producers in the world. The Arizona-based company engages in the development, production, and exploration of copper, molybdenum, zinc, and silver.
9. Strategy Inc. (NASDAQ:MSTR)
Number of Hedge Fund Holders: 41
Strategy Inc. (NASDAQ:MSTR) is one of the 10 new contenders for S&P 500 Index.
On April 21, 2026, Cantor Fitzgerald raised its price target on Strategy Inc. (NASDAQ:MSTR) from $192 to $212 while keeping an Overweight rating on the stock. The firm acknowledges the concerns surrounding the broader macroeconomic slowdown. At the same time, it stated in its research note that consumer spending remains relatively stable, based on the recent bank results as well as the company commentary. Furthermore, the firm’s analyst pointed out sector risks as overstated and that Q1 targets remain achievable. Forward guidance and developments in the Middle East will likely drive future performance.
Previously, on April 20, 2026, Strategy Inc. (NASDAQ:MSTR) disclosed acquiring 34,164 additional bitcoins for approximately $2.54 billion between April 13 and April 19. The average purchase price was $74,395 per coin, approximately. With this new transaction, the company’s total holdings reached 815,061 bitcoins as of April 19. These acquired bitcoins reflect an aggregate investment of roughly $61.56 billion, further solidifying Strategy Inc.’s (NASDAQ:MSTR) position as the largest corporate bitcoin holder.
Founded in 1989, Strategy Inc. (NASDAQ:MSTR) is a pioneer in enterprise analytics and mobility software that has transformed into the world’s largest corporate holder of Bitcoin. The company’s headquarters is in Virginia.
8. Everpure, Inc. (NYSE:P)
Number of Hedge Fund Holders: 53
Everpure, Inc. (NYSE:P) is one of the 10 new contenders for S&P 500 Index.
Everpure, Inc. (NYSE:P) saw its price target lowered by JP Morgan on April 16, 2026. The firm adjusted the stock’s price target from $105 to $80, while maintaining an Overweight rating on the shares. The update was part of the overall revisions in ratings and targets in the hardware and networking group, following the firm’s preview of the first quarter. JPMorgan anticipates that massive AI infrastructure spending will boost AI-levered suppliers in Q1. Based on this estimate, the firm downgraded four stocks while placing a few on positive-catalyst watches.
In a separate development last month, on March 30, 2026, Everpure, Inc. (NYSE:P) adjusted its prices, citing sustained industry-wide demand and rising component costs. The company’s portfolio saw an Average Selling Price (ASP) increase of approximately 40%, while Evergreen//One was limited to an increase of roughly 10% on longer-term contracts.
Note: Pure Storage rebranded as Everpure, Inc. (NYSE:P) in February 2026 and changed its stock ticker symbol from “PSTG” to “P” on the NYSE, effective April 17, 2026.
Founded in 2009, Everpure, Inc. (NYSE:P) is an American technology company with headquarters in California. The company provides an advanced data storage platform that delivers a cloud-like experience across on-premises, public cloud, and edge environments.
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.
6. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)
Number of Hedge Fund Holders: 67
Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is one of the 10 new contenders for S&P 500 Index.
On April 17, 2026, Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) provided an update on its experimental drug, ALN-4324. Currently in its Phase 2 clinical trial, the company’s experimental RNAi therapeutic drug aims at treating type 2 diabetes. The trial involves a triple-blind, placebo-controlled study that evaluates the impact of a single subcutaneous injection on insulin sensitivity. Formally initiated in March 2026, the trial reflects Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)’s strategic expansion from rare diseases into the high-demand metabolic market. If the trial turns out to be successful, it will elevate the company’s position as a formidable competitor, on par with industry leaders like Eli Lilly and Novo Nordisk.
In a separate event, on April 13, 2026, Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) saw an adjustment to its price target from Truist. The firm lowered its price target from $515 to $505 while maintaining a Buy rating on the stock. Truist provided the update as part of its Q1 results preview among Biotech stocks. The firm further told investors that management anticipates strong annual growth but cautions about Q1 seasonal weakness due to payer dynamics and fewer shipping weeks.
Founded in 2002, Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is a biopharmaceutical company. Based in Massachusetts, the company develops and commercializes novel therapeutics based on ribonucleic acid interference (RNAi).
While we acknowledge the potential of ALNY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ALNY and that has 100x upside potential, check out our report about the cheapest AI stock.
Click to continue reading and see the 5 New Contenders for S&P 500 Index.
Disclosure: None. Follow Insider Monkey on Google News.
