FTSE Russell releases preliminary results of US stock index restructuring: Alphabet and AMD categorized as growth stocks.

FTSE Russell announced the preliminary results of the June 2026 Russell US Index restructuring on May 22 local time. In this adjustment, the investable market cap of US stocks significantly expanded, with the Russell 3000 Index's total market value soaring 29% to $75.6 trillion, and the segmentation threshold between large-cap stocks and small-cap stocks also increased by 24% to about $57 billion. In the highly anticipated list of giants, Nvidia surpassed Apple to take the top spot, Alphabet's market value surged 141.9% to rise to second place, and Walmart replaced Eli Lilly Pharmaceuticals as a newcomer to the top ten. This restructuring resulted in a significant shift in style indices: Google's parent company, Alphabet, and AMD became the leading targets to be removed from the Russell 1000 Value Index due to changes in market cap and growth characteristics. These two companies have been removed from the value stock category and will now be fully classified under the "pure growth stock" category in the future.