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Investing.com -- Several fintech names may be next in line for inclusion in the S&P 500, according to new commentary from Truist.
Analysts note that “several FinTechs, including Block … as well as a handful of Capital Markets firms, were added to the S&P 500 in 2025.” Now, they believe three more companies could follow.
Truist writes that “it is possible that SoFi (SOFI), Affirm (AFRM), and Toast (TOST) could be added to the index in the near future.”
In a note on Wednesday, the firm pointed out that the S&P Dow Jones Indices investment committee has broad discretion, creating “a fair amount of uncertainty … regarding which stocks will be added to the index with each quarterly rebalancing.”
Still, Truist argues the trio appears well-positioned. According to the note, “Affirm and SoFi meet all of the criteria while Toast is marginally below the market cap threshold.”
The firm notes that S&P 500 additions can provide a meaningful boost to stocks, given the mechanical buying by index funds and benchmark-tracking strategies.
Truist maintains a Hold rating on SoFi, Buy ratings on Affirm and Toast, and said investors should take into consideration the potential positive catalyst.