In the ever-evolving landscape of the Philippine stock market, a major shift is on the horizon. The Philippine Stock Exchange (PSE) recently announced the results of its regular index review, and the headlines are buzzing: RL Commercial REIT Inc. (RCR) is officially joining the elite 30-member Philippine Stock Exchange index (PSEi).

But as one door opens, another closes. Moving out of the main index to make room for the newcomer is the conglomerate Alliance Global Group Inc. (AGI).
Here is a breakdown of what these changes mean for investors and a look at the other major reshuffles across the market.

The Big Switch: RCR Joins the Big Leagues
Starting February 2, 2026, RCR—the real estate investment trust unit of the Gokongwei family’s Robinsons Land Corp.—will take its place among the country’s most blue-chip stocks.

This move is a significant milestone for the REIT sector. By entering the PSEi, RCR proves that high-yielding, dividend-focused assets are increasingly becoming central to the Philippine investment narrative. For investors, RCR’s inclusion means more visibility and likely more institutional fund inflows, as many index-tracking funds will now be required to hold the stock.

On the flip side, Alliance Global Group Inc. (AGI), the holding firm of tycoon Andrew Tan, will be exiting the main index. While AGI remains a massive player in the economy, its removal from the PSEi often leads to a temporary period of “rebalancing” as funds sell off their holdings to match the new index composition.

Beyond the PSEi: Dividend and MidCap Shakeups
The reshuffle didn’t stop at the main index. The PSE also announced changes to its thematic and sector-specific indices:

PSE Dividend Yield (PSE DivY): This index welcomes OceanaGold (Philippines) Inc. and Universal Robina Corp. (URC). To make room, The Keepers Holdings Inc. and Security Bank Corp. are being phased out.

PSE MidCap Index: Interestingly, while AGI left the main index, it has found a new home here. Joining it is Apex Mining Co. Inc. Conversely, DoubleDragon Corp. and RCR (due to its promotion to the PSEi) will be removed.

What This Means for Investors
Index rebalancing is more than just a list of names; it’s a signal of where the market’s liquidity and interest are shifting. The inclusion of more REITs and mining firms in various indices reflects a rotation toward sectors that offer either high dividend yields or specific growth stories.

If you hold any of these stocks, mark February 2 on your calendar. Expect some volatility in the days leading up to the implementation as fund managers adjust their portfolios to align with the PSE’s new structure.

The Bottom Line: The rise of RCR to the PSEi highlights the growing dominance of REITs in the local market, while the broader reshuffle reminds us that in the world of investing, change is the only constant.