Core Insights - Keefe, Bruyette & Woods, Inc. announces the upcoming index rebalancing for Q4 2025, affecting several financial services and fintech sector indexes [1][2] Index Changes - **KBW Nasdaq Insurance Index (KIX)** - **Additions (4)**: Arthur J. Gallagher & Co. (AJG), Chubb Limited (CB), W. R. Berkley Corporation (WRB), Willis Towers Watson Public Limited Company (WTW) [3] - **Deletions (4)**: Ameriprise Financial, Inc. (AMP), Fidelity National Financial, Inc. (FNF), MBIA Inc. (MBI), MGIC Investment Corporation (MTG) [3] - **KBW Nasdaq Regional Banking Index (KRX)** - **Addition (1)**: Axos Financial, Inc. (AX) [3] - **Deletion (1)**: Synovus Financial Corp. (SNV) [3] - **KBW Nasdaq Financial Sector Dividend Yield Index (KDX)** - **Additions (8)**: Blue Owl Capital Corporation (OBDC), Blue Owl Capital Inc. (OWL), Crescent Capital BDC, Inc. (CCAP), Franklin BSP Realty Trust, Inc. (FBRT), Nuveen Churchill Direct Lending Corp. (NCDL), Peoples Bancorp Inc. (PEBO), Redwood Trust, Inc. (RWT), UWM Holdings Corporation (UWMC) [3] - **Deletions (8)**: Barings BDC, Inc. (BBDC), Capitol Federal Financial, Inc. (CFFN), Ellington Financial Inc. (EFC), Fidus Investment Corporation (FDUS), Main Street Capital Corporation (MAIN) [3] - **KBW Nasdaq Premium Yield Equity REIT Index (KYX)** - **Additions (12)**: Alexandria Real Estate Equities, Inc. (ARE), Alpine Income Property Trust, Inc. (PINE), American Assets Trust, Inc. (AAT), Americold Realty Trust, Inc. (COLD), Douglas Emmett, Inc. (DEI), FrontView REIT, Inc. (FVR), Healthpeak Properties, Inc. (DOC), Millrose Properties, Inc. (MRP), Postal Realty Trust, Inc. (PSTL), Sila Realty Trust, Inc. (SILA), SL Green Realty Corp. (SLG), UMH Properties, Inc. (UMH) [4] - **Deletions (9)**: Brandywine Realty Trust (BDN), Broadstone Net Lease, Inc. (BNL), Healthcare Realty Trust Incorporated (HR), Kilroy Realty Corporation (KRC), LXP Industrial Trust (LXP), Omega Healthcare Investors, Inc. (OHI), OUTFRONT Media Inc. (OUT), Peakstone Realty Trust (PKST), Sabra Health Care REIT, Inc. (SBRA) [4] - **KBW Nasdaq Property and Casualty Insurance Index (KPX)** - **Additions (6)**: Aon Public Limited Company (AON), Arthur J. Gallagher & Co. (AJG), Brown & Brown, Inc. (BRO), Marsh & McLennan Companies, Inc. (MMC), Ryan Specialty Holdings, Inc. (RYAN), Willis Towers Watson Public Limited Company (WTW) [4] - **Deletions (6)**: Horace Mann Educators Corporation (HMN), James River Group Holdings, Inc. (JRVR), Kemper Corporation (KMPR), ProAssurance Corporation (PRA), SiriusPoint Ltd. (SPNT), Universal Insurance Holdings, Inc. (UVE) [4] - **KBW Nasdaq Financial Technology Index (KFTX)** - **Additions (6)**: Bullish (BLSH), Circle Internet Group, Inc. (CRCL), Dave Inc. (DAVE), Etoro Group Limited (ETOR), Shopify Inc. (SHOP), Strategy Inc (MSTR) [5] - **Deletions (6)**: ACI Worldwide, Inc. (ACIW), FactSet Research Systems Inc. (FDS), Pathward Financial, Inc. (CASH), S&P Global Inc. (SPGI), Thomson Reuters Corporation (TRI), Verisk Analytics, Inc. (VRSK) [5] Additional Information - Several KBW Nasdaq indexes have tradable exchange-traded funds (ETFs) licensed, including KBW Nasdaq Bank Index (BKXSM), KBW Nasdaq Capital Markets Index (KSXSM), and others [5]