Moderna Will Join the Nasdaq-100 Index
The biotech firm is set to replace Warner Bros. Discovery in the index effective October 9, 2026.
Updated on Oct. 2, 2026 in Stock Markets
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Nasdaq has announced that Moderna, Inc. will officially join the Nasdaq-100 Index prior to the market open on October 9, 2026. This change sees Moderna replace Warner Bros. Discovery, Inc. within the index.
Why it matters
The Nasdaq-100 tracks 100 of the largest non-financial companies listed on the Nasdaq, and its composition is closely watched by institutional investors. Inclusion in the index can trigger significant buying activity from investment products that mirror its performance.
The Nasdaq-100 is currently tracked by more than 200 investment products with over $800 billion in assets under management globally. Nasdaq maintains a total universe of 10,000 separate indexes.
The players
Moderna, Inc.
This biotechnology company focuses on mRNA-based therapeutics and vaccines.
Warner Bros. Discovery, Inc.
This global media and entertainment conglomerate manages a diverse portfolio of content brands and television networks.
Nasdaq, Inc.
This American multinational financial services corporation operates three stock exchanges in the United States.
The details
Moderna, Inc. will secure its position as one of the 100 non-financial firms included in the benchmark index during the upcoming rebalancing. Warner Bros. Discovery, Inc. is being removed from the list as part of this scheduled shift.
Timeline
Moderna joins the Nasdaq-100 Index on October 9, 2026.
Market Dynamics
This transition adheres to the Nasdaq-100 Index rebalancing methodology, which periodically updates index constituents to maintain an accurate representation of large-cap market leaders. These shifts reflect the broader cycle of corporate growth and contraction within the technology and media sectors.
Retail and institutional investors with portfolios or funds tracking the Nasdaq-100 should anticipate automatic adjustments to their holdings on October 9, 2026. This rebalancing may impact the weightings and concentration of specific sectors within index-linked investment products.
The takeaway
Index rebalancing is a routine occurrence that ensures market benchmarks remain representative of the current largest publicly traded companies. Investors should regularly monitor their fund disclosures to understand how changes in underlying indices might affect their specific portfolio strategy.
Further reading
For more information on market indices, visit the Stock Markets section.
More information
View the latest Nasdaq index changes information for additional details on this transition.
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