Is the widely acknowledged “portfolio rebalancing channel” so relevant in the transmission mechanism of monetary policy? Does its impact differ between value and growth stocks? This article provides valid empirical evidence from the US equity market, analyzing its relationship with monetary policy and exploring how the rebalancing device really works. Empirical findings reveal that rebalancers’ behavior generally exert a negative but non-significant effect on all equities, notwithstanding their different fundamentals; only in response to forward guidance policies, while still insignificant, portfolio rebalancing appears to be responsible of mismatching stock performances, signaling potential rebalancing trends within the equity market.