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Charted: Companies in the Nasdaq 100, by Weight

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A donut chart showing how just seven companies make up over 50% of the NASDAQ 100 by weight.

Charted: Companies in the Nasdaq 100, by Weight

Launched in 1985, the Nasdaq 100 index tracks the performance of the largest, and most actively-traded, non-financial companies listed on the Nasdaq stock exchange.

The index is capitalization-weighted, meaning that stock weights in the index are based on each company’s market cap (with some rules to rebalance if companies have an oversized influence). For example, leaders Apple and Microsoft amounted to more than one-fourth of the Nasdaq 100’s total market capitalization alone as of April 2023.

One of the most well-known trackers of the index, Invesco QQQ’s ETF, is the data source for today’s visualization by Truman Du.

Just 7 Companies Dominate the Nasdaq 100

Microsoft and Apple, together with the next five ranked companies, made up over 50% of the total weight of the index in April. These companies are: Alphabet (Google), Amazon, NVIDIA, Meta, and Tesla, with Alphabet’s class A and class C shares occupying two spots.

Here’s a breakdown of all 100 companies on the Nasdaq 100, by percentage weight in the index on April 19, 2023.

CompanyAllocation
Microsoft12.63%
Apple12.60%
Amazon6.31%
NVIDIA5.29%
Alphabet (Class A)3.74%
Alphabet (Class C)3.70%
Meta (Class A)3.68%
Tesla3.38%
Broadcom2.03%
PepsiCo1.95%
Costco1.69%
Cisco1.51%
T-Mobile1.39%
Adobe1.33%
Comcast (Class A)1.23%
Texas Instruments1.23%
AMD1.11%
Netflix1.10%
Qualcomm1.01%
Honeywell International1.01%
Amgen1.01%
Intel0.99%
Intuit0.96%
Starbucks0.94%
Gilead Sciences0.80%
Intuitive Surgical0.80%
Booking Holdings0.77%
Mondelez International (Class A)0.74%
Analog Devices0.73%
Applied Materials0.71%
Automatic Data Processing0.69%
Regeneron Pharmaceuticals0.67%
PayPal Holdings0.65%
Vertex Pharmaceuticals0.65%
Fiserv0.56%
Activision Blizzard0.51%
Lam Research0.51%
Micron Technology0.51%
MercadoLibre0.50%
CSX Corp0.48%
Palo Alto Networks0.45%
Cadence Design0.45%
Synopsys0.44%
O'Reilly Automotive0.43%
Moderna0.42%
ASML Holding NV ADR0.42%
Monster Beverage0.42%
Marriott (Class A)0.41%
Fortinet0.40%
Charter Communications (Class A)0.40%
KLA Corp0.38%
Keurig Dr Pepper0.38%
Airbnb (Class A)0.38%
Kraft Heinz0.37%
American Electric Power0.37%
DexCom0.37%
Cintas Corp0.35%
Lululemon0.35%
AstraZeneca PLC ADR0.35%
NXP Semiconductors NV0.34%
Microchip Technology0.33%
Exelon Corp0.33%
Autodesk0.33%
Biogen0.32%
PDD Holdings Inc ADR0.32%
IDEXX Laboratories0.31%
Paychex0.30%
Workday (Class A)0.30%
Xcel Energy0.30%
Seagen0.29%
PACCAR0.29%
ODFL0.29%
Copart0.29%
Illumina0.28%
Ross Stores0.28%
EA0.27%
Marvell Technology0.27%
Global Foundries0.27%
Warner Bros. Discovery (Class A)0.27%
Dollar Tree0.25%
Baker Hughes (Class A)0.24%
Fastenal0.24%
Cognizant (Class A)0.24%
Enphase Energy0.23%
Walgreens Boots0.23%
Verisk Analytics0.23%
CrowdStrike Holdings (Class A)0.22%
CoStar Group0.22%
Ansys0.22%
Align Technology0.21%
Diamondback Energy0.20%
Constellation Energy0.19%
Atlassian Corp A0.19%
eBay0.18%
Datadog (Class A)0.16%
JD.com ADR0.13%
Zoom0.13%
Sirius XM Holdings0.12%
Zscaler0.11%
Lucid Group 0.11%
Rivian (Class A)0.09%

The dominance of these seven companies within the NASDAQ 100 is a reflection of how central they are to large parts of the wider consumer economy. The economic output and influence of the tech giants speaks for themselves, and Tesla still leads the (rapidly crowding) electric vehicle market.

Perhaps the underdog of the bunch is NVIDIA, which produces graphics processing units (GPUs) that power the visuals in many electronic devices and, more recently, artificial intelligence (AI) systems. The latter in particular has made investors incredibly bullish on the company, as NVIDIA’s stock has risen and the company has recently joined the coveted $1 trillion club.

It’s important to note that this snapshot changes drastically over time. For example, Intel and Cisco were massive components of the Nasdaq 100 in the 2000s but have seen their allocations drop, while others like Yahoo! are no longer publicly traded.

The Pros and Cons of Market Consolidation

Such imbalance in the Nasdaq 100 has both benefits and downsides.

The success of the biggest contingents can pull up the entire index, and the Nasdaq 100 has consistently outperformed broader markets. In fact, $10,000 invested in the Nasdaq 100 in 2013 would be worth $50,000 today, while the same investment in the S&P 500 would now be $30,000.

However, if even one of these large companies underperforms, it can have a major impact on the entire index. This outsized influence can also hide general market woes that may be affecting many other components of the index, and the economy.

With the advent of large language models of AI in 2022, the tech sector is on a precipice. Will AI lead to further profitability—and bigger market caps—or will it render entire companies defunct, leading to a big shakeup in the composition of the Nasdaq 100 index?

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This article was published as a part of Visual Capitalist's Creator Program, which features data-driven visuals from some of our favorite Creators around the world.

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Where are Immigrant Founders of U.S. Unicorns From?

The majority of billion-dollar startups in the U.S. have at least one immigrant founder. Here is where those founders are from.

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u.s. startup founders from other countries

Where are Immigrant Founders of U.S. Unicorns From?

The majority of U.S. unicorns—private startups worth more than $1 billion—have at least one immigrant founder, according to the National Foundation for American Policy (NFAP).

While some of the companies and founders are well known, like SpaceX from South Africa’s Elon Musk, hundreds of lesser-known unicorns have been founded from the top talent of just a handful of countries.

This visual using NFAP data lays out the countries which are home to the most U.S. billion-dollar startup founders as of May 2022.

Note: These rankings are based on unicorn valuations as of May 2022. As valuations regularly fluctuate, some companies may have gained or lost unicorn status since that time.

Countries with the Most U.S. Unicorn Founders

Here’s a look at the countries that these immigrant founders come from.

The 382 founders accounted for below have combined to start 319 of 582 U.S.-based unicorns.

RankCountry# Founders of
U.S. Unicorns
1🇮🇳 India66
2🇮🇱 Israel54
3🇬🇧 United Kingdom27
4🇨🇦 Canada22
5🇨🇳 China21
6🇫🇷 France18
7🇩🇪 Germany15
8🇷🇺 Russia11
9🇺🇦 Ukraine10
10🇮🇷 Iran8
11🇦🇺 Australia7
T12🇮🇹 Italy6
T12🇳🇬 Nigeria6
T12🇵🇱 Poland6
T12🇷🇴 Romania6
T16🇦🇷 Argentina5
T16🇧🇷 Brazil5
T16🇳🇿 New Zealand5
T16🇵🇰 Pakistan5
T16🇰🇷 South Korea5
T21🇩🇰 Denmark4
T21🇵🇹 Portugal4
T21🇪🇸 Spain4
T24🇧🇾 Belarus3
T24🇧🇬 Bulgaria3
T24🇮🇪 Ireland3
T24🇰🇪 Kenya3
T24🇱🇧 Lebanon3
T24🇵🇭 Philippines3
T24🇿🇦 South Africa3
T24🇹🇼 Taiwan3
T24🇹🇷 Turkey3
T33🇦🇲 Armenia2
T33🇨🇿 Czech Republic2
T33🇬🇷 Greece2
T33🇲🇽 Mexico2
T33🇸🇦 Saudi Arabia2
T33🇸🇬 Singapore2
T33🇨🇭 Switzerland2
T33🇺🇿 Uzbekistan2
T41🇦🇹 Austria1
T41🇧🇩 Bangladesh1
T41🇧🇧 Barbados1
T41🇨🇴 Colombia1
T41🇩🇴 Dominican Republic1
T41🇪🇬 Egypt1
T33🇬🇪 Georgia1
T41🇮🇶 Iraq1
T41🇯🇴 Jordan1
T41🇱🇻 Latvia1
T41🇱🇹 Lithuania1
T41🇲🇹 Malta1
T41🇲🇦 Morocco1
T41🇳🇱 Netherlands1
T41🇳🇴 Norway1
T41🇵🇪 Peru1
T41🇶🇦 Qatar1
T41🇸🇮 Slovenia1
T41🇻🇪 Venezuela1

Far in the lead is India with 66 startup founders and Israel with 54 startup founders. Together, they account for 31% of all unicorn founders listed. In fact, more than half of the immigrant unicorn founders came from just six countries: India, Israel, the UK, Canada, China, and France.

These immigrant founders have helped found many of the world’s biggest startups:

  • Stripe was co-founded by Irish brothers Patrick and John Collison
  • Instacart’s founder and former CEO, Apoorva Mehta, was born in India, then moved to Libya and Canada as a child.
  • Big data startup Databricks was founded by a group of seven computer scientists from the University of California, including five immigrants from Iran, Romania, and China.
  • Immigration and Entrepreneurship

    Though some of these founders came to the U.S. as successful business leaders, the report noted that many immigrated as children or international students.

    In addition, there are another 51 founders (not included in the above statistics) that were not immigrants themselves but are first-generation Americans born to immigrant parents. Data from the report also shows that 80% of unicorns have an immigrant in some key role, whether it’s as a founder, a C-level executive, or some other crucial position.

    Even historically, some of the biggest companies in the U.S. were not founded by Americans. For example, the founders of Procter & Gamble emigrated from England and Ireland in the early 1800s. And today, one of the biggest companies in the U.S. is NVIDIA, which recently broached a trillion dollar market cap and whose founder is from Taiwan.

    The Ever-Changing Unicorn Landscape

    While this dataset is from mid-2022, it should be noted that the startup ecosystem has shifted drastically in just the last year.

    Rapidly rising interest rates and a slowdown in venture capital have conspired to create a more precarious fundraising environment, leading to down rounds and stagnation for some of these billion-dollar companies.

    In Q1 2023, unicorn births declined 89%, suggesting that in upcoming years the unicorn list—and the number of immigrant founders—may be subject to change.

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