Where Data Tells the Story
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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.
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.