Financials Surpass Technology Companies in Russell Rebalancing
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Financial companies will displace computer and software makers as the largest industry in the Russell 3000 after the addition of Berkshire Hathaway Inc. when the index rebalances this month.
The insurance and investment company run by billionaire Warren Buffett is set to be added to the Russell 3000 and Russell 1000, according to the Tacoma, Washington-based Russell Investments’ website. Berkshire is one of 38 financial companies on the preliminary list. Russell will review and update the additions June 18 and again on June 25 before they take effect.