SpaceX’s weighting in the Nasdaq-100 Index is set to increase from 1.28% to 2.82% in the upcoming quarterly rebalance, a rise of more than double. The adjustment takes effect on Monday and is based on Friday’s closing prices.
The increase will elevate SpaceX to the seventh‑largest company in the index, with a market capitalization reported to exceed $2 billion. The Nasdaq-100 tracks the 100 biggest non‑financial firms listed on the Nasdaq exchange and requires constituents to maintain an average daily volume of at least 200,000 shares, among other liquidity standards.
The change follows a recent rule revision by Nasdaq that allows newly listed mega‑cap firms to join the index without meeting a 10% free‑float minimum. As a result, passive funds that replicate the benchmark, most notably the Invesco QQQ Trust Series 1, will need to adjust their holdings. QQQ, a $482 billion exchange‑traded fund, is one of the world’s largest ETFs tracking the Nasdaq‑100. More than 200 investment products globally follow the index, collectively managing over $800 billion in assets.
Because a large portion of SpaceX’s shares were locked up after its July public debut, its prior representation in the index was limited. The new weighting will compel ETFs and other index‑linked funds to purchase billions of dollars of SpaceX stock to align with the revised composition.
