Who's In and Who's Out in the Nasdaq 100’s Reconstitution?

When we initially discussed the use of the EPS Diplomats strategy in the Pro Portfolio, we referenced that major market indexes such as the S&P 500 and others add and subtract companies as they are reconstituted. With that in mind, the Nasdaq (NDAQ) announced the next round of reconstitution for the Nasdaq 100 (NDX), an index comprised of the 100 largest non-financial companies listed on the Nasdaq.

Before the market opens on December 22, the companies coming into the Nasdaq 100 are:

Alnylam Pharmaceuticals ( (ALNY) ), Ferrovial (FER), Insmed (INSM) , Monolithic Power Systems (MPWR) , Seagate Technology (STX) , and Western Digital (WDC) . You’ll note that STX is currently part of the EPS Diplomats model.

Who’s leaving?

Being removed from the Nasdaq 100 are Biogen (BIIB) , CDW Corp. (CDW) , GlobalFoundries (GFS) , Lululemon Athletica (LULU) , ON Semiconductor (ON) , and The Trade Desk (TTD) .

What this means is that all the funds that follow the Nasdaq 100 will be buying shares of the companies being added and jettisoning those that are being removed.

As far as our EPS Diplomats model goes, given some recent questions in the Forum, we would remind you that on December 31, we will close out the current basket of stocks and rebuild with an updated basket on the first day of trading in 2026. So we are clear, that is Friday, January 2.

We would also remind you that it is possible that, as we re-screen the universe of candidates to determine which eight companies offer the fastest, but also the most consistent rate of EPS growth, one or a few of the current basket residents could remain. As part of the reconstitution process, those that remain will receive the same weighting in the larger basket as the new entrants.

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At the time of publication, TheStreet Pro Portfolio was long STX.