2025 Latest Edition: Nasdaq 100 Index Constituents List and Weight Analysis

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The Nasdaq Index gathers the world’s top non-financial companies, showcasing the market’s innovative vitality. As of the end of 2024, the total market capitalization of its constituents has exceeded $27 trillion, highlighting the enormous influence of these enterprises.

Below is the complete list of the latest Nasdaq 100 Index constituents for 2025. This interactive table features sorting and search functions for easy lookup of specific company information.

Key Takeaways

• The Nasdaq 100 Index is primarily composed of top non-financial companies, showcasing the market’s innovative vitality.
• The top 10 companies in the index account for over half of the weight, and their performance directly influences the index movement.
• Information technology stocks account for over 60% of the Nasdaq 100 Index, forming its core.
• Investors can invest in the Nasdaq 100 Index through ETFs like QQQ or QQQM, each with their advantages.
• The Nasdaq 100 Index is highly concentrated in tech stocks, making it shine during tech uptrends but also increasing volatility.

Nasdaq 100 Weights and Sector Distribution

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The structure of the Nasdaq 100 Index is highly distinctive. Its market-cap weighting method means that the stock performance of just a few mega-cap enterprises will have a decisive impact on the overall index movement. Understanding the weights of these leading stocks and the distribution of major sectors is the crucial first step in analyzing the Nasdaq Index’s future trends.

Top 10 Weighted Stocks Analysis

The top 10 constituents of the Nasdaq 100 Index account for over 50% of the weight. These companies are not only household names but also bellwethers of global technological innovation. Their financial performance directly drives the index’s pulse.

Tech Giants as Powerful Engines These leading enterprises — particularly Microsoft, Nvidia, Apple, Amazon, Alphabet, and Meta — are collectively known as the “Magnificent Seven.” They leverage absolute advantages in cloud computing, artificial intelligence, consumer electronics, and digital advertising to continuously drive revenue and profit growth.

• Microsoft (MSFT) Microsoft has successfully transformed into a cloud-centric enterprise. Its Intelligent Cloud segment is the primary growth driver, especially the Azure cloud platform. Latest data shows Azure and other cloud services revenue growing at 40% YoY, demonstrating strong expansion in the enterprise market. Microsoft CEO Satya Nadella emphasized that the company is continuing to ramp up investments in AI and cloud infrastructure to seize massive future opportunities.
• Nvidia (NVDA) Nvidia has become the biggest beneficiary of the AI revolution. Its data center business revenue is astonishing, with 66% YoY growth and 25% QoQ. This is mainly due to strong demand for its AI chips (like H100). The company’s extremely high gross margin (non-GAAP gross margin at 73.6%) also reflects its technological moat and pricing power in AI hardware.
• Apple (AAPL) Apple’s ecosystem is supported by two pillars: hardware products and services. The iPhone remains its primary revenue source, while services (including App Store, Apple Music, iCloud, etc.) have higher margins and stable growth. FY2025 estimates show services revenue poised to exceed $100 billion, becoming a key engine for Apple’s future growth.

  Estimated Item (FY2025)	Value
  iPhone Revenue	$209.59 billion
  Services Revenue	$109.16 billion

• Amazon (AMZN) Amazon’s business operates in a dual-engine model. Its cloud service AWS is the global market share leader in cloud infrastructure (~32%), with operating margins often exceeding 30%. AWS’s strong profitability effectively offsets the lower margins in traditional e-commerce, driving overall company profit expansion. J.P. Morgan analysts remain bullish on AWS momentum in cloud and AI, maintaining an “Overweight” rating.
• Alphabet (GOOGL/GOOG) Alphabet’s core revenue comes from its powerful advertising business. Google Search remains the cash cow, contributing over $50 billion in quarterly revenue. Meanwhile, Google Cloud is growing rapidly, with quarterly revenue exceeding $12 billion and 28% YoY growth, showing its efforts to catch up in the cloud market.
• Meta Platforms (META) Meta’s app family (Facebook, Instagram, WhatsApp) has a massive user base, with 3.43 billion daily active users. This huge traffic pool makes it a dominant in digital advertising, accounting for over 97% of total revenue. In recent years, average revenue per user (ARPU) has continued to grow, showing Meta’s strengthening monetization.
• Tesla (TSLA) As the only manufacturing-core company on the list, Tesla is not only the EV market leader but also actively deploying in energy storage and AI. Its high weighting in the index reflects market expectations for its disruptive innovation and future growth potential.

Major Sector Weightings

The Nasdaq 100 Index’s sector distribution is extremely concentrated, which is one of its most notable features. Tech stocks dominate absolutely, making it a key gauge of global tech sector health.

According to the latest data for 2025, the sector weight distribution is as follows:

From the chart above, it’s clear that information technology stocks account for over 60% of the weight, truly the index’s core. Consumer discretionary (e.g., Amazon, Tesla) and communication services (e.g., Alphabet, Meta) also hold significant shares. This highly concentrated structure means the Nasdaq 100 typically shines during tech upcycles but faces greater pressure during tech downturns.

How to Invest in the Nasdaq Index?

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For investors hoping to participate in Nasdaq Index growth, directly buying all 100 constituents is not only costly but also cumbersome to manage. Therefore, exchange-traded funds (ETFs) that track the index have become a more convenient and efficient investment channel. With a single trade, investors can achieve diversified exposure to a basket of top tech stocks.

Core Tracking ETFs Introduction

There are multiple ETFs tracking the Nasdaq on the market, but the two most well-known and largest are both issued by Invesco:

• Invesco QQQ Trust (QQQ): This is the oldest and most liquid Nasdaq 100 ETF. Its assets under management (AUM) exceed $400 billion, with massive daily trading volume ensuring easy buying and selling. Its expense ratio is 0.20%.
• Invesco NASDAQ 100 ETF (QQQM): This is Invesco’s newer version, seen as the “mini” of QQQ. QQQM tracks the exact same index but has a lower expense ratio of 0.15%, more attractive for cost-sensitive long-term holders.

Both ETFs offer one-click exposure to U.S. tech leaders but differ slightly in fees and structure, suiting different investor needs.

ETF Selection Criteria and Comparison

When choosing the best ETF, investors should consider key factors like expense ratio, liquidity, and tracking efficiency.

Expense ratio directly affects long-term returns. As shown in the chart above, QQQM’s expense ratio is 0.05% lower than QQQ’s — meaning $5 saved annually on a $10,000 investment. Over time, compounding makes this gap more significant.

The tracking efficiency difference stems from structural variations. As a unit investment trust, QQQ must hold dividends in cash until distribution day, creating minor performance lag. QQQM, as a modern ETF, can reinvest dividends internally for closer index tracking.

Investment Tip For non-U.S. investors buying U.S.-registered ETFs like QQQ or QQQM, note tax implications. Capital gains are usually tax-free, but dividends face 30% withholding tax (lower with tax treaties). Use platforms like Biyapay to transfer funds conveniently from Hong Kong licensed bank accounts to U.S. stock brokers for ETF purchases, and remember to submit the W-8BEN form to comply with tax rules.

The core of the Nasdaq 100 Index is tech-driven momentum, with weights highly concentrated in a few innovative leaders. Looking to 2025, AI development is expected to continue driving index growth, but some analysts warn of overvaluation risks. The index has evolved from a niche market into a key gauge of global growth company performance, playing a central role in modern portfolios.

FAQ

What is the difference between the Nasdaq 100 and the Nasdaq Composite Index?

The Nasdaq 100 Index includes only 100 of the largest non-financial companies listed on the Nasdaq exchange. The Nasdaq Composite Index covers all companies listed on the exchange, over 3,000 in number, with a broader scope.

Why does the Nasdaq 100 Index exclude financial stocks?

The index’s original purpose was to track innovative and growth-oriented enterprises. Its compilation rules deliberately exclude banks, insurance, and other financial institutions to better focus on reflecting trends in technology and emerging industries.

Do index constituents change? How often are adjustments made?

Constituents are comprehensively reviewed and adjusted annually. Nasdaq removes ineligible companies and adds new ones in December each year based on criteria like market cap to ensure representativeness.

What are the main risks of investing in the Nasdaq 100 Index?

The primary risk stems from its highly concentrated sector structure. With tech stocks dominating, the index shines during tech upcycles but faces greater volatility during sector challenges or valuation corrections.