Walmart Inc. is trading places with AstraZeneca on the Nasdaq-100 Index, with the retail giant set to join the exclusive benchmark before markets open on January 20, 2026. The swap happens right after the Martin Luther King Jr. Day holiday, when U.S. markets are closed on Monday, January 19.
Walmart joins the Nasdaq-100 Index on January 20, 2026, replacing AstraZeneca immediately following the MLK Day holiday closure.
This change affects more than just the main Nasdaq-100 Index. Walmart will also join the Nasdaq-100 Equal Weighted Index and the Nasdaq-100 Ex-Tech Sector Index. Meanwhile, AstraZeneca gets removed from all three of those benchmarks plus several other variants, including ESG versions and low volatility editions. It’s like being taken off multiple guest lists at once.
The Nasdaq-100 tracks 100 of the largest non-financial companies listed on the Nasdaq Stock Market. While many people associate this index with technology companies, it actually spans multiple sectors including retail and healthcare. Think of it as a club for big companies that aren’t banks or insurance firms. Membership depends on rules-based criteria like market value and liquidity rather than someone’s opinion. This mechanical approach supports diversification benefits across sectors for investors.
Walmart recently moved its listing to Nasdaq in November 2025 after spending years on the New York Stock Exchange. That migration made the retail giant eligible for this prestigious index. AstraZeneca’s removal shows how the mechanical nature of index rules can push out even large international companies when eligibility factors shift. The index change announcement was made on Friday as part of Nasdaq’s scheduled rebalance process.
This swap matters because it triggers real money movement. Passive managers and funds that track the Nasdaq-100 must buy Walmart shares and sell AstraZeneca stock to match the index. The timing around the effective date creates predictable trading activity as billions of dollars get repositioned. Exchange-traded funds and derivatives built around the Nasdaq-100 will all need adjusting. The change takes effect before market open on the first trading day after the third Friday of the month.
Nasdaq confirmed this adjustment is part of its scheduled maintenance process to keep benchmarks representative. The change underscores how index membership shapes capital flows in modern markets. For Walmart, joining this widely watched gauge means automatic investment from countless tracking funds. For AstraZeneca, departure means the opposite.
