Top 30 Stocks' Share of the S&P 500 Over Time

What We’re Showing

The 30 largest S&P 500 stocks as a percentage of the S&P 500’s total market capitalization in 2024 as well as five, 10, 15, 20, and 25 years ago. 

Data comes from Bespoke via ISABELNET and is updated as of June 18, 2024.

S&P 500 Index Concentration Is Increasing

The top 30 companies’ share of the S&P 500 has risen to 53% this year, the highest level recorded since at least 1999.

The five largest companies, Microsoft, Apple, Amazon, Nvidia, and Meta already make up 28% of the S&P 500, raising concerns about the index’s concentration.

The dominance of these top five stocks shows how much big tech drives U.S. markets. 

The danger of a highly concentrated index is that it can have more volatility and higher risks for investors if these major companies experience downturns.