Nasdaq 100 rebalancing: Sandisk in, Atlassian out

Nasdaq will swap Sandisk into the Nasdaq-100 before trading starts on Monday, April 20, replacing Atlassian in the index of 100 large non-financial Nasdaq companies. (markets.businessinsider.com) The change was announced by Nasdaq on April 10 and applies to the Nasdaq-100, ticker NDX, under the index methodology that remains in effect through April 30. Atlassian trades under TEAM; Sandisk trades under SNDK. (markets.businessinsider.com) The Nasdaq-100 is a modified market-capitalization index, which means bigger companies get bigger weights but the largest positions are capped by rule. Nasdaq’s methodology says the index is built from the largest Nasdaq-listed non-financial companies that meet its eligibility tests. (indexes.nasdaq.com) An index change like this usually forces buying and selling by funds that track the benchmark. Invesco’s Nasdaq 100 exchange-traded fund says it invests at least 90 percent of its assets in the stocks that make up the index. (invesco.com) Sandisk’s path into the index is unusually recent: the company completed its separation from Western Digital on February 24, 2025, and began trading on Nasdaq that day as an independent company. The company described itself then as a standalone flash and memory technology business. (sandisk.com) Atlassian, by contrast, is a long-established software company whose investor relations site lists annual reports through 2025 and products including Jira, Confluence, Trello and Loom. Its removal does not affect its Nasdaq listing; it only changes index membership. (investors.atlassian.com) Nasdaq’s own description of the benchmark helps explain the switch: the index is meant to reflect large non-financial companies across sectors including software, hardware, retail and biotechnology. Component changes are part of routine maintenance to keep that lineup aligned with current market values and eligibility rules. (indexes.nasdaq.com) The practical deadline is now set. Funds tied to the Nasdaq-100 have until the market opens on April 20 to reflect Sandisk in and Atlassian out. (markets.businessinsider.com)