Five in, five out. The NASDAQ-100's June 22 recomposition is one of its busier single-index reshuffles in recent memory.
NASDAQ-100
Added (effective June 22): Astera Labs (ALAB), CoreWeave (CRWV), Nebius Group (NBIS), Rocket Lab (RLAB), Teradyne (TER)
Removed (effective June 22): Charter Communications (CHTR), Cognizant Technology Solutions (CTSH), Insmed (INSM), Verisk Analytics (VRSK), Zscaler (ZS)
The incoming names lean hard into the AI infrastructure theme. CoreWeave is a GPU cloud provider that only went public in March; Nebius Group is a European AI infrastructure spinoff; Astera Labs makes connectivity chips aimed at data centers. Rocket Lab and Teradyne are the less obvious picks — space launch and semiconductor test equipment, respectively — but both fit the index's tech-heavy mandate.
On the exit side, Charter and Cognizant are the largest names by market cap leaving the index. Zscaler's removal is the one that'll get attention in momentum circles — the cybersecurity name has lagged badly over the past year while peers like CrowdStrike stayed put.
Why does any of this matter mechanically? Index funds and ETFs tracking the NASDAQ-100 are required to own its members in proportion to their weights. When the recomposition hits, those funds must buy every addition and sell every deletion — regardless of price. That forced buying pressure on adds and selling pressure on drops often shows up in price action around the effective date, which is why active and momentum traders watch these announcements closely.