A system, apparatus and method are provided for dynamically updating a configuration of a network device when relevant sources and destinations of network traffic are added, removed or migrated in a network. A configuration of a network device is associated with a set of network addresses representing a set of relevant sources and destinations of network traffic. The set is dynamic in that the membership of the set can change over time to include different network addresses as the set of relevant sources and destinations of network traffic changes over time. One or more data sources are monitored to obtain the network addresses for the set of relevant sources and destinations and to determine if the membership of the set has changed. When a change is detected, the configuration of the network device is updated on the network device to reflect the network addresses that are currently in the set.