Nasdaq 100 Rebalance Lifts SpaceX Weight to 2.82%, Triggering $800B Passive Fund Shift

The Nasdaq 100's quarterly rebalance takes effect Monday, Sept. 21, 2026, raising SpaceX's (SPCX-US) index weight to 2.82% from roughly 1.28%, according to data obtained by Bloomberg. The final figures, calculated on the Sept. 18 closing prices, match preliminary weights previously published by the index provider. SpaceX's underweight stemmed from its July 2026 inclusion, when most shares remained locked up and unavailable for public trading, limiting its weighting even after Nasdaq eased rules to admit large new listings faster and scrapped a 10% free-float requirement. SpaceX carries a market value above $2 trillion and ranks as the index's seventh-largest company, yet its current weight placed it outside the top 20. The increase forces passive funds tracking the benchmark to adjust holdings, including the $482 billion Invesco QQQ Trust (QQQ-US). More than 200 products track the index, with assets exceeding $800 billion. Macquarie analyst Edward Yoon said rebalances have grown more consequential amid geopolitical developments involving Iran, persistent inflation concerns, renewed tariff uncertainty and AI-related volatility.