Morningstar PitchBook US Modern Market 100

What this index holds, how it is built, and what its record does not cover. Morningstar Indexes, built with PitchBook.

What it tracks

The Morningstar PitchBook US Modern Market 100 Index tracks 100 of the largest and most influential U.S.-domiciled companies—90 public and 10 private venture-backed. It uses a transparent, rules-based methodology, with companies weighted by market value. The index seamlessly integrates public and private markets to represent today’s expanding investment opportunity.

The only index here that is mostly public companies. It holds the largest US companies of both kinds in one basket, so it shows how much of a blended “public and private” product is actually the ordinary stock market.

Run by Morningstar Indexes, built with PitchBook. PrePost has no relationship with the provider and is not paid to list this index.

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Most of the record is backfilled

The index began on 2025-09-02. Its performance record starts 2014-12-19, so the years before 2025-09-02 are backfilled rather than live. A long-run return quoted for this index is mostly a backtest.

Private marks can be stale

The provider's own reporting notes that where transactions are infrequent, secondary-market marks can stay unchanged even as new information emerges.

Mostly public companies

This is not a private-market index. On 2026-08-31 it held 91 publicly traded companies, which anyone can buy through an ordinary broker, against 8 private ones. The provider describes the split as 90 public and 10 private; the holdings read on that date give 91 and 8. Companies leave the private side when they list, so the holdings are likely the more current of the two. PrePost publishes the figure it read.

How the index is built

FieldValue
ProviderMorningstar Indexes, built with PitchBook
InceptionSeptember 2, 2025
Performance record startsDecember 19, 2014
Constituents99
WeightingMarket Capitalization Free Float Adjusted
RebalanceQuarterly (next September 21, 2026)
ReconstitutionSemi Annually
CurrencyUSD
How constituents are pricedNot published as a rule. The provider's quarterly reporting on this family sources its secondary-market marks to Caplight, alongside Morningstar and PitchBook data.
Published methodologyNone that PrePost could find on the provider's own pages.
VariantsMorningstar PitchBook US Modern Market 100 TR USD
IdentifiersFS0000K4H8 (Morningstar fund ID)

What is in it

Named constituents as of August 31, 2026.

PrePost has a sourced figure for 6 of the 99 named constituents.

Membership as the index provider published it on this date. PrePost shows which companies are in the index, not their weights. This index holds public companies as well as private ones. PrePost covers only the private ones.

CompanyPrePostEstimateConfidence
AnthropicVerified$965.0Bhigh
OpenAIVerified$894.3Bhigh
DatabricksVerified$190.0Bhigh
StripeVerified$159.0Bhigh
AndurilVerified$100.0Bmedium
Figure AI (identified by PrePost, not named by the provider)Verified$39.0Bmedium
RippleNamedNo PrePost page
RipplingNamedNo PrePost page
NVIDIA CorpNamedNo PrePost page
Apple IncNamedNo PrePost page
Microsoft CorpNamedNo PrePost page
Amazon.com IncNamedNo PrePost page
Alphabet Inc Class ANamedNo PrePost page
Broadcom IncNamedNo PrePost page
Alphabet Inc Class CNamedNo PrePost page
Space Exploration Technologies Corp Class ANamedNo PrePost page
Meta Platforms Inc Class ANamedNo PrePost page
Tesla IncNamedNo PrePost page
Micron Technology IncNamedNo PrePost page
JPMorgan Chase & CoNamedNo PrePost page
Berkshire Hathaway Inc Class BNamedNo PrePost page
Eli Lilly and CoNamedNo PrePost page
Advanced Micro Devices IncNamedNo PrePost page
Visa Inc Class ANamedNo PrePost page
ExxonMobil Holdings CorpNamedNo PrePost page
Johnson & JohnsonNamedNo PrePost page
Mastercard Inc Class ANamedNo PrePost page
Palantir Technologies Inc Ordinary Shares - Class ANamedNo PrePost page
Walmart IncNamedNo PrePost page
AbbVie IncNamedNo PrePost page
Intel CorpNamedNo PrePost page
Cisco Systems IncNamedNo PrePost page
Costco Wholesale CorpNamedNo PrePost page
Bank of America CorpNamedNo PrePost page
Lam Research CorpNamedNo PrePost page
Chevron CorpNamedNo PrePost page
Netflix IncNamedNo PrePost page
GE AerospaceNamedNo PrePost page
Merck & Co IncNamedNo PrePost page
Caterpillar IncNamedNo PrePost page
Coca-Cola CoNamedNo PrePost page
Procter & Gamble CoNamedNo PrePost page
The Home Depot IncNamedNo PrePost page
Applied Materials IncNamedNo PrePost page
UnitedHealth Group IncNamedNo PrePost page
Palo Alto Networks IncNamedNo PrePost page
The Goldman Sachs Group IncNamedNo PrePost page
Philip Morris International IncNamedNo PrePost page
RTX CorpNamedNo PrePost page
Oracle CorpNamedNo PrePost page
Wells Fargo & CoNamedNo PrePost page
Morgan StanleyNamedNo PrePost page
GE Vernova IncNamedNo PrePost page
CrowdStrike Holdings Inc Class ANamedNo PrePost page
Texas Instruments IncNamedNo PrePost page
Thermo Fisher Scientific IncNamedNo PrePost page
International Business Machines CorpNamedNo PrePost page
Linde PLCNamedNo PrePost page
Amgen IncNamedNo PrePost page
Verizon Communications IncNamedNo PrePost page
Salesforce IncNamedNo PrePost page
Citigroup IncNamedNo PrePost page
KLA CorpNamedNo PrePost page
Qualcomm IncNamedNo PrePost page
AT&T IncNamedNo PrePost page
PepsiCo IncNamedNo PrePost page
The Walt Disney CoNamedNo PrePost page
Gilead Sciences IncNamedNo PrePost page
McDonald's CorpNamedNo PrePost page
Abbott LaboratoriesNamedNo PrePost page
Analog Devices IncNamedNo PrePost page
American Express CoNamedNo PrePost page
Charles Schwab CorpNamedNo PrePost page
NextEra Energy IncNamedNo PrePost page
Boeing CoNamedNo PrePost page
Union Pacific CorpNamedNo PrePost page
BlackRock IncNamedNo PrePost page
ServiceNow IncNamedNo PrePost page
Pfizer IncNamedNo PrePost page
Booking Holdings IncNamedNo PrePost page
Eaton Corp PLCNamedNo PrePost page
ConocoPhillipsNamedNo PrePost page
Deere & CoNamedNo PrePost page
Uber Technologies IncNamedNo PrePost page
TJX Companies IncNamedNo PrePost page
Vertex Pharmaceuticals IncNamedNo PrePost page
Capital One Financial CorpNamedNo PrePost page
Danaher CorpNamedNo PrePost page
Intuitive Surgical IncNamedNo PrePost page
S&P Global IncNamedNo PrePost page
Adobe IncNamedNo PrePost page
Accenture PLC Class ANamedNo PrePost page
Progressive CorpNamedNo PrePost page
Stryker CorpNamedNo PrePost page
Lowe's Companies IncNamedNo PrePost page
Automatic Data Processing IncNamedNo PrePost page
Intuit IncNamedNo PrePost page
Comcast Corp Class ANamedNo PrePost page
Honeywell International IncNamedNo PrePost page

Verified means a full PrePost profile with sourced figures. Listed means the company is named here because a benchmark we track names it; PrePost has published no figure for it and does not rank it.

The index provider lists this constituent only as “Figure”, with no identifier of any kind. PrePost has identified it as Figure AI on four grounds: the index selects the largest and most liquid unicorns; no separate Figure AI entry appears in any index we track; the other well-known company of that name, Figure Technologies, is an order of magnitude too small to qualify; and the two SEC-filing funds on this site that hold it, which must name portfolio companies precisely, both report it as “Figure AI, Inc.”. The provider has not confirmed this, and we have asked.

Vehicles that track it

None that PrePost tracks. That does not mean none exists: a product can track an index without PrePost having verified it, and PrePost lists a vehicle only once it can source what the vehicle is and what it holds.

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Sources

An index is not an investment, and a product that tracks one may not hold what it holds. This page describes the index, not any product. Not investment advice.

Last updated 2026-09-12. See also how we verify and our disclaimer.