Original | Odaily Planet Daily (@OdailyChina)

Author | Golem (@web 3_golem)

On June 26, after the US stock market close, the Russell US Index completed its latest index reorganization, with all index component stocks and weights finalized, and on June 29 (today) the market will officially trade according to the new index after the US stock market opens.

The Russell US Index is one of the world's most important benchmarks for the US stock market, tracking the stock price performance of the top 3000 publicly traded companies by market capitalization (Odaily note: the actual number may fluctuate slightly due to companies going public or delisting, for example, the data for 2025-2026 is around 2900+), representing about 98% of the investable stock market in the US, and is the broadest comprehensive index of US large and small caps.

If we compare the Russell US Index to a pyramid, Russell 1000 (Russell 1000) is at the top of the pyramid, comprising large-cap stocks ranked in the top 1000 by market capitalization; Russell 2000 (Russell 2000) is in the middle and lower part of the pyramid, containing small-cap stocks ranked from 1001 to 3000. Together, these make up the complete Russell US Index, also known as the Russell 3000 Index.

According to official sources, over $12 trillion in assets worldwide are benchmarked to the Russell US Index (including passive ETFs, mutual funds, pension funds, etc.), so during each annual reorganization, a large number of ETFs, index funds, and institutional accounts must adjust their holdings accordingly. According to data released by Nasdaq, on the day of the reorganization on June 26, its Closing Cross system processed $334.027 billion in transaction volume, setting a record for the highest single-day trading volume in the history of Nasdaq's Closing Cross for the Russell 3000 Index, far surpassing the 2025 figures.

The total number of stocks listed on Nasdaq and the New York Stock Exchange is about 5,650. Although the Russell 3000 Index covers approximately 97% of the US investment market in terms of market capitalization, it accounts for only 53% in terms of the number of component stocks. Therefore, the restructured component stocks of the Russell 3000 Index are highly monitored by the market, especially those newly added to the index, because this means that these stocks will attract trillion-dollar level passive fund purchases for the first time, and their futures may show better performance, making them worth taking a position in.

224 Companies Added to the Russell 3000 Index

According to official disclosure, the market capitalization threshold dividing the Russell 1000 and Russell 2000 has skyrocketed by 24%, reaching $5.7 billion. This means many companies with market caps around $5 billion have been downgraded from the Russell 1000 Index to the Russell 2000 Index, and the minimum market cap threshold for component stocks in the Russell 2000 Index has risen to $146.4 million (an increase of nearly 23% compared to 2025).

A total of 61 companies were newly added to the Russell 1000 Index, of which 42 were promoted from the Russell 2000 Index; these new component stocks are mainly concentrated in technology (18 companies) and industrials (17 companies), with only 19 new companies joining the Russell 1000 Index.

A total of 244 companies were newly added to the Russell 2000 Index, of which 39 were downgraded from the Russell 1000, 83 companies came from the Russell Microcap Index, and 17 companies joined the Russell 2000 Index through IPOs. The remaining new companies came from outside the range of component stocks of the Russell US Index. Among the 244 newly added companies, 88 belong to the healthcare sector, 36 belong to the technology sector, 31 belong to the consumer discretionary sector, and 28 belong to the industrial sector.

Therefore, in this reorganization, a total of 224 new companies were added to the Russell 3000 Index, with 19 entering the Russell 1000 Index and 205 entering the Russell 2000 Index, while 118 companies were entirely removed from the Russell 3000 Index.

List of new companies added to the Russell 3000 Index (click here for the complete list)

Approximately 37 AI and Semiconductor Companies Added to the Russell 3000 Index

Compared to the Russell 2000 Index, the proportion of technology companies in the Russell 1000 Index is significantly higher than in other sectors. Nvidia, thanks to its rapid market cap expansion, has officially replaced Apple as the largest weighted component stock in the Russell 1000 Index. With the explosion of the AI and semiconductor industries this year, the weight of semiconductor stocks has increased the most in the Russell 1000 Growth Index (Odaily note: the Russell 1000 Index can also be further split into Growth, Value, Top 200, and Mega Cap).

Based on weight, the companies with the largest newly added weight in the Russell 1000 Growth Index are Micron Technology and SanDisk, both of which transitioned from the 100% Value Stock category to the 100% Growth Stock category.

Industry weight distribution of Russell 1000 Index and Russell 2000 Index companies

At the same time, according to Odaily's statistics, among the total of 224 newly added companies in the Russell 3000 Index, approximately 37 companies are engaged in upstream and downstream AI industry businesses, accounting for about 17% of the newly added companies.

AI-related companies among the newly added companies to the Russell 3000 Index (created by AI)

Among these 37 companies, the most eye-catching is SpaceX. After completing its IPO on June 12, 2026, SpaceX's market value skyrocketed to over $2 trillion, triggering Russell's "Fast-track" mechanism, thus it directly entered the Russell 1000 Index, and it also directly entered the Russell Top 200 Index. SpaceX stocks will be classified as approximately 90.4% growth stocks and 9.6% value stocks, meaning it will become an important part of growth investment linked to the Russell 1000 Index.

In addition to the Russell 1000 Index, SpaceX is also about to be added to the Nasdaq 100 Index and officially traded on July 6.

For other newly added AI concept stocks in the Russell 3000 Index, this is not just an honorary title but a substantial boost that can directly translate into liquidity in the secondary market and support stock prices.

In the past, these small and medium-sized AI and semiconductor companies (especially those in the list whose market cap did not reach $5.7 billion and were classified into the Russell 2000) could not enter large Wall Street mutual funds or hedge fund stock pools due to market cap restrictions before being selected for the index. However, after being selected for the index, Wall Street analysts may have to begin covering these companies, increasing their "visibility" to institutional investors. Benefiting from being in the hot AI sector, they may attract some active funds or group funds to enter the market, thereby pushing up their stock prices.

Approximately 7 Crypto-related Companies Added to the Russell 3000 Index

After the latest reorganization of the Russell 3000 Index, some cryptocurrency companies were also included for the first time. According to Odaily statistics, among the total of 224 newly added companies to the Russell 3000 Index, about 7 companies are related to the cryptocurrency industry, accounting for about 3% of the newly added companies, namely Galaxy Digital, SharpLink, Bitmine, Forward Industries, Hyperliquid Strategies, Tron, and IREN.

Crypto-related companies among the newly added companies to the Russell 3000 Index (created by AI)

The successful inclusion of these 7 companies in the Russell 3000 Index means that these stocks will also become passive allocations for many funds in the future, having significant upside potential. Moreover, 5 out of these 7 companies included in the Russell 3000 Index are engaged in DAT business corresponding to different ecosystems like ETH, SOL, HYPE, TRON, etc. It is noteworthy that the Russell 3000 Index is essentially a cold machine that ignores subjective preferences and solely relies on market cap; the inclusion of these 5 companies proves that although the heat of DAT has passed, their model still withstands the test of the market and time.

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