The PowerShares QQQ (NasdaqGM: QQQ), the NASDAQ-100 tracking ETF, is home to over $46.6 billion in assets under management, making it the sixth-largest U.S. ETF.
Another interesting fact about QQQ is that it does not hold 100. Its current roster is comprised of 103 stocks and that number could rise as NASDAQ OMX Group (NasdaqGS: NDAQ) makes some changes to the NASDAQ-100’s methodology.
“Effective with the December 2014 evaluation, NASDAQ OMX will modify the index methodology to allow for inclusion of all of a company’s share classes that meet inclusion criteria of the NASDAQ-100 Index. The index will therefore better reflect the entire market capitalization of the 100 largest non-financial companies listed on The NASDAQ Stock Market,” said NASDAQ OMX in a statement.
QQQ already features both classes of Google (Nasdaq: GOOG) among its top-five holdings. Google (NasdaqGS: GOOGL), the company’s Class A shares, are QQQ’s fifth-largest holding, The company’s Class C shares are the ETF’s number three holding.
Earlier this year, S&P Dow Jones Indices announced it would include multiple share classes in the S&P 500. Starting on Sept. 15, 2015, “companies in the 500 which have multiple share classes will have all their liquid classes included. The weight of each company will represent the total float available to shareholders, just as it does today,” writes David Blitzer of S&P Dow Jones Indices in March. [How Google’s Split Will Affect ETFs]
In addition to two share classes from Google, QQQ features two shares classes for Discovery Communications (NasdaqGS: DISCA) and Liberty Media (NasdaqGS: LMCK).