June 27, 2025 – Global index provider FTSE Russell celebrated the conclusion of its 37th annual Russell Reconstitution at the close of today’s US markets, setting another record for shares traded across Nasdaq as Apple (AAPL) officially reclaims the largest company position from Microsoft (MSFT) in the Russell 3000 and large cap Russell 1000 Indexes, a position it last held from 2021-2023.
The Russell Reconstitution rebalances the entire Russell US Indexes family to maintain an accurate representation of US equity markets and reflect the dynamic US economy. Typically culminating in one of the highest trading volume days of the year, today’s markets closed with $217.20 billion traded across Nasdaq and NYSE – $102.5 billion and $114.7 billion in US stocks traded on the Nasdaq and NYSE, respectively.
For 41 years, the Russell US Indexes have been widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. As of June 30, 2024, approximately $10.6 trillion in investor assets are benchmarked to or invested in products based on the Russell US Indexes.
Fiona Bassett, CEO, FTSE Russell:
“Russell Reconstitution is a cornerstone event for the US equity markets, ensuring the full suite of Russell US Indexes remain precise and representative of the ever-evolving marketplace. This year’s Nasdaq record trading volume underscores the continued trust the investment community places in our transparent and rules-based process. We’re proud to celebrate the successful completion of this year’s rebalancing with our longstanding friends at Nasdaq, marking another milestone in our shared commitment to market integrity and efficiency.”
FTSE Russell’s Russell Reconstitution concluded at the close of the US equity markets today, June 27th, with the newly rebalanced indexes taking effect when markets open on Monday, June 30th. Although currently rebalanced on an annual basis, beginning in 2026, the reconstitution of the Russell US Indexes will be held semi-annually in June and November. FTSE Russell announced this move to a semi-annual reconstitution frequency earlier this year, with more information available here.
For more information on the Russell Reconstitution, please visit the FTSE Russell website.
About FTSE Russell, an LSEG business
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $18.1 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit FTSE Russell.
