The S&P 500's Thanksgiving Leftovers in September 2026

It finally happened. One of 2025′s Thanksgiving Leftover stocks has been removed from the S&P 500 (Index: SPX).

That stock belongs to The Trade Desk (NASDAQ: TTD), which we previously described as the worst of 2025′s Thanksgiving Leftover stocks. It was ejected from the S&P 500 earlier this month because of its ongoing dismal performance. The move came a day after the company announced it would lay off 15% of its staff as it goes through a restructuring.

The writing on the wall for the company was visible as early as February of this year. In August, it was clear that action was coming and that the stock would have further to fall after it did.

Flashing forward to last week, that latter reality began taking hold, as managers of funds that track the S&P 500 began clearing out TTD stock from their holdings.

Through the close of trading on Monday, 28 September 2026, the Trade Desk finds itself at the very bottom of our spaghetti chart tracking the relative movements of 2025′s ten Thanksgiving Leftover stocks during the last ten months with respect to their value on the day after 2025′s Thanksgiving holiday.

Also through 28 September 2026, we find that eight of the ten Thanksgiving Leftover stocks we’ve been following have dropped below the values recorded for each on 28 November 2025.

While The Trade Desk is arguably having the worst year of its existence, one other member of the S&P 500′s Thanksgiving Leftovers of 2025 is starting to also break away from the pack for its disappointing performance in 2026. Lululemon Athletica (NASDAQ: LULU) plunged in September thanks to the worsening outlook for its apparel business.

Compared to our August 2026 snapshot, both the market cap-weighted and equal-weighted indices composed of the ten Thanksgiving Leftover Stocks dropped lower. The market cap-weighted version of the index dropped to its lowest level of the year, having lost 18.5% of its day-after-Thanksgiving Day 2025 level.

Here is the latest version of our chart tracking our two hypothetical indices and the S&P 500.

The market cap-weighted version of the Thanksgiving Leftover stock index was pulled lower as its three most heavily weighted components, Chipotle Mexican Grill (NYSE: CMG), Fiserv (NASDAQ: FISV), and Lululemon Athletica (NASDAQ: LULU), which together account for 51.7% of its value, all dropped during the past month.

There are only two months to go to find out how many of the Thanksgiving Leftover stocks will remain underwater with respect to where they were on the day after Thanksgiving 2025. Which ones do you suppose will rise above the waterline by the time the day after Thanksgiving Day 2026 rolls around?