The Russell 3000 Index will add 261 companies — including Berkshire Hathaway, the largest in terms of market capitalization — to the broad-based U.S. equity benchmark when it undergoes its annual reconstitution, according to information from Russell Investments.
At the same time, 205 companies are set to be deleted from the index, according to a list on Russell's website.
The changes will bring the index, now with 2,944 stocks because of deletions during the past 12 months, back to 3,000 stocks.
The additions and deletions are preliminary. Russell plans to post updates between June 18 and 25, and the final list June 28.
The combined market capitalization of the stocks in the index, which reflect about 98% of the investible U.S. market, will rise to $13.4 trillion as of Monday from $10.6 trillion a year ago, according to the statement. The median market capitalization will rise 38.8% to $802 million from $578 million in the same period.
“Exxon Mobil Corp. will continue to rank as the largest company in the index in terms of market capitalization, despite a 16.3% decline since last year's index reconstitution,” according to the statement.
Berkshire Hathaway would rank in the top 10 in terms of market capitalization of companies in the index. Russell hasn't placed an exact ranking on Berkshire Hathaway yet, said Steve Claiborne, a Russell spokesman.
