Four big changes in Nasdaq’s special rebalancing Monday
New weightings for the largest stocks in the Nasdaq 100 are taking effect on Monday following the index’s second “special rebalancing” in 25 years.
These new levels were shared ahead of time with Goldman Sachs Group Chief U.S. Equity Analyst David Kostin. Kostin and his team have published a report on the changes that was shared with Goldman clients and the press last week.The Goldman analyst summarized how the new weightings would impact the index’s 25 largest constituents in the chart below.
EPFR data show $261 billion in mutual fund and exchange-traded fund assets are benchmarked to the Nasdaq 100, including the Invesco QQQ Trust Series QQQ, +0.17%, better known by its ticker QQQ. More than $250 billion of this money is invested in passive benchmark-tracking strategies. Kostin said he doesn’t expect these changes to have much of an impact on markets, arguing that the previous special rebalancing didn’t move the index much, either.
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