Nasdaq-100 Welcomes SanDisk on April 20, Displacing Atlassian in $600B AUM Shift
Nasdaq Inc will add SanDisk Corporation to the Nasdaq-100 index on April 20, 2026, replacing Atlassian. This reshuffle compels index-tracking funds managing over $600 billion to rebalance, likely driving significant passive inflows into SanDisk shares and boosting trading activity on the exchange.
1. Index Reshuffle Details
Nasdaq Inc announced that SanDisk Corporation will replace Atlassian Corp Plc in the Nasdaq-100 index effective April 20, 2026, under the current index methodology. This marks a strategic reweighting of the 100 largest non-financial companies listed on the Nasdaq exchange.
2. Institutional Flows Impact
Over $600 billion in assets are tied to Nasdaq-100-tracking products, including major ETFs, which will need to purchase SanDisk shares and sell Atlassian to realign portfolios. This large-scale rebalancing is expected to generate a pre-inclusion rally for SanDisk and heightened trading volumes.
3. Implications for Atlassian
Atlassian’s exit reflects its valuation lag relative to hardware and infrastructure names driving growth in the AI and data economy. Passive funds will divest its shares, potentially exerting short-term selling pressure on the software-as-a-service leader.
4. Strategic Significance
The swap highlights Nasdaq’s emphasis on companies at the forefront of semiconductors and data storage, reinforcing the exchange’s role as a barometer for innovation. Increased visibility and liquidity for SanDisk could lower its capital costs and enhance market depth.