QQXT holds a concentrated portfolio of non-technology companies from the NASDAQ 100, an index that comprises 100 of the largest non-financial companies listed on the NASDAQ Stock Market based on market capitalization. The index classifies eligible companies using the Industry classification Benchmark (ICB). Selected securities are weighted equally and rebalanced on a quarterly basis. Overall, QQXTs subtractive approach to NASDAQ 100 equities makes an odd, yet efficient investment strategy focusing on a narrower set of industries.