The ten biggest companies in QQQ hold 47.8% of it as of Jun 2026 — up from 56.8% in Sep 2019. The top five hold 30.6%, and NVIDIA Corp. alone holds 7.6%. Weights are from QQQ's quarterly SEC filings, so they reconcile with the holdings list.
Each band is a rank slot, not a fixed company — band 1 is whoever is biggest in that filing. Hover a band to see who holds that slot today; switch between the top 1, 3, 5 and 10.
Largestcompanies vs the rest
25%50%75%
Jun 2026
#1NVDA7.60%
#2AAPL6.67%
#3GOOGL6.29%
#4MU5.64%
#5MSFT4.35%
#6AMD4.11%
#7AMZN4.03%
#8TSLA3.30%
#9INTC3.04%
#10AVGO2.81%
Top 10 47.85%The rest 52.15%
Share of Nasdaq-100 by weight in its tracking fund, as the fund filed it each quarter.
The effective number of stocks — one over the sum of squared weights — is how many equally weighted stocks would be exactly as concentrated. The Nasdaq-100 has 99 members and behaves like 32 at the Jun 2026 filing, against 20 in Sep 2019.
Quarterly: each bar is one quarter, the index's total return from one of the fund's quarterly filings to the next, rebuilt from its members' own total returns and filed weights — split into what the ten largest at the start of the quarter added and what everyone else added. Bars are labelled by the month the quarter ends; point at one for its figures.
Top 10 at the start of each quarterEveryone else·white tick = the index
Since Sep 2019 the index returned +326.1% (total return, from its members): the ten largest at each filing added +182.7% of it and everyone else +143.4%.
Share of weight vs share of revenue, profit and cash#
The ten largest members' share of QQQ's weight, dashed, against their share of its members' combined trailing-twelve-month revenue, net income, operating cash flow and free cash flow — at every filing. At the Jun 2026 filing they hold 48% of the weight and produce 47% of the revenue and 73% of the net income. Weight above the other lines means the market values each dollar they earn above the rest of the fund's.
Each company's share of QQQ's weight and of its members' combined trailing-twelve-month revenue, net income, operating cash flow (OCF) and free cash flow (FCF), at the Jun 2026 filing. Hover a figure for the dollars behind it.
The twenty largest members at the Jun 2026 filing, market cap against trailing-twelve-month net income. The line's slope is the index's own price-to-earnings ratio (31.3×): a company above it is priced richer per dollar of earnings than the index, below it cheaper. It is the members' aggregate, not the S&P 500's published P/E.
Net income, trailing twelve months →Market cap →
Index P/E 31.3×NVDA
NVDA · NVIDIA Corporation
Market cap $4.8T
P/S 16.0×— above the index's 6.9×
P/E 25.1×— below the index's 31.3×
Revenue $303B · net income $193B (trailing 12 months)
AAPL
AAPL · Apple Inc.
Market cap $4.2T
P/S 9.0×— above the index's 6.9×
P/E 32.8×— above the index's 31.3×
Revenue $467B · net income $129B (trailing 12 months)
GOOGL
GOOGL · Alphabet Inc. Class A
Market cap $4.3T
P/S 9.7×— above the index's 6.9×
P/E 17.8×— below the index's 31.3×
Revenue $446B · net income $244B (trailing 12 months)
MU
MU · Micron Technology Inc.
Market cap $1.3T
P/S 14.4×— above the index's 6.9×
P/E 25.8×— below the index's 31.3×
Revenue $90B · net income $50B (trailing 12 months)
MSFT
MSFT · Microsoft Corporation
Market cap $2.8T
P/S 8.3×— above the index's 6.9×
P/E 20.7×— below the index's 31.3×
Revenue $332B · net income $134B (trailing 12 months)
AMD
AMD · Advanced Micro Devices Inc.
Market cap $948B
P/S 23.0×— above the index's 6.9×
P/E 147.4×— above the index's 31.3×
Revenue $41B · net income $6B (trailing 12 months)
AMZN
AMZN · Amazon.com Inc.
Market cap $2.6T
P/S 3.3×— below the index's 6.9×
P/E 19.0×— below the index's 31.3×
Revenue $776B · net income $135B (trailing 12 months)
TSLA
TSLA · Tesla Inc.
Market cap $1.7T
P/S 16.0×— above the index's 6.9×
P/E 436.7×— above the index's 31.3×
Revenue $104B · net income $4B (trailing 12 months)
AVGO
AVGO · Broadcom Inc.
Market cap $1.8T
P/S 23.8×— above the index's 6.9×
P/E 61.3×— above the index's 31.3×
Revenue $75B · net income $29B (trailing 12 months)
META · Meta Platforms Inc.
Market cap $1.4T
P/S 6.3×— below the index's 6.9×
P/E 21.1×— below the index's 31.3×
Revenue $228B · net income $68B (trailing 12 months)
AMAT · Applied Materials Inc.
Market cap $574B
P/S 18.6×— above the index's 6.9×
P/E 61.9×— above the index's 31.3×
Revenue $31B · net income $9B (trailing 12 months)
WMT · Walmart Inc.
Market cap $901B
P/S 1.2×— below the index's 6.9×
P/E 40.8×— above the index's 31.3×
Revenue $736B · net income $22B (trailing 12 months)
LRCX · Lam Research Corporation
Market cap $542B
P/S 23.3×— above the index's 6.9×
P/E 74.6×— above the index's 31.3×
Revenue $23B · net income $7B (trailing 12 months)
CSCO · Cisco Systems Inc.
Market cap $463B
P/S 7.3×— above the index's 6.9×
P/E 34.9×— above the index's 31.3×
Revenue $63B · net income $13B (trailing 12 months)
COST · Costco Wholesale Corporation
Market cap $415B
P/S 1.4×— below the index's 6.9×
P/E 46.9×— above the index's 31.3×
Revenue $294B · net income $9B (trailing 12 months)
KLAC · KLA Corporation
Market cap $394B
P/S 29.0×— above the index's 6.9×
P/E 81.6×— above the index's 31.3×
Revenue $14B · net income $5B (trailing 12 months)
SNDK · Sandisk Corporation
Market cap $337B
P/S 16.6×— above the index's 6.9×
P/E 29.5×— below the index's 31.3×
Revenue $20B · net income $11B (trailing 12 months)
NFLX · Netflix Inc.
Market cap $297B
P/S 6.1×— below the index's 6.9×
P/E 21.8×— below the index's 31.3×
Revenue $48B · net income $14B (trailing 12 months)
PANW · Palo Alto Networks Inc.
Market cap $278B
P/S 24.2×— above the index's 6.9×
P/E 905.3×— above the index's 31.3×
Revenue $11B · net income $307M (trailing 12 months)
$1.0T$2.0T$3.0T$4.0T$5.0T$50B$100B$150B$200B$250B
The line is the index's own P/E — all members' market value over all their net income — so a company on it is priced like the index per dollar of earnings; above it, richer; below, cheaper. The ten largest are labelled. Point at a company for its market cap, P/S and P/E against the index's. Left off for a trailing loss: INTC.
The twenty largest members at the Jun 2026 filing, market cap against trailing-twelve-month revenue. The line's slope is the index's own price-to-sales ratio (6.9×): a company above it is priced richer per dollar of sales than the index, below it cheaper.
Revenue, trailing twelve months →Market cap →
Index P/S 6.9×NVDA
NVDA · NVIDIA Corporation
Market cap $4.8T
P/S 16.0×— above the index's 6.9×
P/E 25.1×— below the index's 31.3×
Revenue $303B · net income $193B (trailing 12 months)
AAPL
AAPL · Apple Inc.
Market cap $4.2T
P/S 9.0×— above the index's 6.9×
P/E 32.8×— above the index's 31.3×
Revenue $467B · net income $129B (trailing 12 months)
GOOGL
GOOGL · Alphabet Inc. Class A
Market cap $4.3T
P/S 9.7×— above the index's 6.9×
P/E 17.8×— below the index's 31.3×
Revenue $446B · net income $244B (trailing 12 months)
MU
MU · Micron Technology Inc.
Market cap $1.3T
P/S 14.4×— above the index's 6.9×
P/E 25.8×— below the index's 31.3×
Revenue $90B · net income $50B (trailing 12 months)
MSFT
MSFT · Microsoft Corporation
Market cap $2.8T
P/S 8.3×— above the index's 6.9×
P/E 20.7×— below the index's 31.3×
Revenue $332B · net income $134B (trailing 12 months)
AMD
AMD · Advanced Micro Devices Inc.
Market cap $948B
P/S 23.0×— above the index's 6.9×
P/E 147.4×— above the index's 31.3×
Revenue $41B · net income $6B (trailing 12 months)
AMZN
AMZN · Amazon.com Inc.
Market cap $2.6T
P/S 3.3×— below the index's 6.9×
P/E 19.0×— below the index's 31.3×
Revenue $776B · net income $135B (trailing 12 months)
TSLA
TSLA · Tesla Inc.
Market cap $1.7T
P/S 16.0×— above the index's 6.9×
P/E 436.7×— above the index's 31.3×
Revenue $104B · net income $4B (trailing 12 months)
INTC
INTC · Intel Corporation
Market cap $704B
P/S 12.3×— above the index's 6.9×
P/E n/m (earnings a loss)
Revenue $57B · net income −$11B (trailing 12 months)
AVGO
AVGO · Broadcom Inc.
Market cap $1.8T
P/S 23.8×— above the index's 6.9×
P/E 61.3×— above the index's 31.3×
Revenue $75B · net income $29B (trailing 12 months)
META · Meta Platforms Inc.
Market cap $1.4T
P/S 6.3×— below the index's 6.9×
P/E 21.1×— below the index's 31.3×
Revenue $228B · net income $68B (trailing 12 months)
AMAT · Applied Materials Inc.
Market cap $574B
P/S 18.6×— above the index's 6.9×
P/E 61.9×— above the index's 31.3×
Revenue $31B · net income $9B (trailing 12 months)
WMT · Walmart Inc.
Market cap $901B
P/S 1.2×— below the index's 6.9×
P/E 40.8×— above the index's 31.3×
Revenue $736B · net income $22B (trailing 12 months)
LRCX · Lam Research Corporation
Market cap $542B
P/S 23.3×— above the index's 6.9×
P/E 74.6×— above the index's 31.3×
Revenue $23B · net income $7B (trailing 12 months)
CSCO · Cisco Systems Inc.
Market cap $463B
P/S 7.3×— above the index's 6.9×
P/E 34.9×— above the index's 31.3×
Revenue $63B · net income $13B (trailing 12 months)
COST · Costco Wholesale Corporation
Market cap $415B
P/S 1.4×— below the index's 6.9×
P/E 46.9×— above the index's 31.3×
Revenue $294B · net income $9B (trailing 12 months)
KLAC · KLA Corporation
Market cap $394B
P/S 29.0×— above the index's 6.9×
P/E 81.6×— above the index's 31.3×
Revenue $14B · net income $5B (trailing 12 months)
SNDK · Sandisk Corporation
Market cap $337B
P/S 16.6×— above the index's 6.9×
P/E 29.5×— below the index's 31.3×
Revenue $20B · net income $11B (trailing 12 months)
NFLX · Netflix Inc.
Market cap $297B
P/S 6.1×— below the index's 6.9×
P/E 21.8×— below the index's 31.3×
Revenue $48B · net income $14B (trailing 12 months)
PANW · Palo Alto Networks Inc.
Market cap $278B
P/S 24.2×— above the index's 6.9×
P/E 905.3×— above the index's 31.3×
Revenue $11B · net income $307M (trailing 12 months)
$1.0T$2.0T$3.0T$4.0T$5.0T$200B$400B$600B$800B
The line is the index's own P/S — all members' market value over all their revenue — so a company on it is priced like the index per dollar of sales; above it, richer; below, cheaper. The ten largest are labelled. Point at a company for its market cap, P/S and P/E against the index's.
The members' combined trailing-twelve-month figures at each filing, the top ten (colored) stacked on everyone else (gray) — so each bar is the index total and the colored part is what ten companies produce.
Revenue
Top 10The rest
20212223242526
Revenue · Sep 2019
trailing twelve months
Top 10$1.2T49.1%
The rest$1.2T50.9%
Index total $2.4T
Revenue · Dec 2019
trailing twelve months
Top 10$1.2T49.9%
The rest$1.2T50.1%
Index total $2.5T
Revenue · Mar 2020
trailing twelve months
Top 10$1.2T46.5%
The rest$1.3T53.5%
Index total $2.5T
Revenue · Jun 2020
trailing twelve months
Top 10$1.1T45.9%
The rest$1.3T54.1%
Index total $2.5T
Revenue · Sep 2020
trailing twelve months
Top 10$1.1T44.5%
The rest$1.4T55.5%
Index total $2.5T
Revenue · Dec 2020
trailing twelve months
Top 10$1.3T49.3%
The rest$1.3T50.7%
Index total $2.6T
Revenue · Mar 2021
trailing twelve months
Top 10$1.5T52.8%
The rest$1.3T47.2%
Index total $2.8T
Revenue · Jun 2021
trailing twelve months
Top 10$1.5T51.0%
The rest$1.4T49.0%
Index total $2.9T
Revenue · Sep 2021
trailing twelve months
Top 10$1.5T48.0%
The rest$1.6T52.0%
Index total $3.1T
Revenue · Dec 2021
trailing twelve months
Top 10$1.6T49.4%
The rest$1.6T50.6%
Index total $3.2T
Revenue · Mar 2022
trailing twelve months
Top 10$1.8T54.4%
The rest$1.5T45.6%
Index total $3.4T
Revenue · Jun 2022
trailing twelve months
Top 10$1.9T55.4%
The rest$1.5T44.6%
Index total $3.4T
Revenue · Sep 2022
trailing twelve months
Top 10$1.9T55.5%
The rest$1.6T44.5%
Index total $3.5T
Revenue · Dec 2022
trailing twelve months
Top 10$2.0T54.9%
The rest$1.6T45.1%
Index total $3.6T
Revenue · Mar 2023
trailing twelve months
Top 10$2.0T55.0%
The rest$1.6T45.0%
Index total $3.6T
Revenue · Jun 2023
trailing twelve months
Top 10$2.0T55.4%
The rest$1.6T44.6%
Index total $3.7T
Revenue · Sep 2023
trailing twelve months
Top 10$2.1T56.1%
The rest$1.6T43.9%
Index total $3.7T
Revenue · Dec 2023
trailing twelve months
Top 10$2.1T54.1%
The rest$1.8T45.9%
Index total $3.9T
Revenue · Mar 2024
trailing twelve months
Top 10$2.2T54.3%
The rest$1.8T45.7%
Index total $4.0T
Revenue · Jun 2024
trailing twelve months
Top 10$2.2T55.2%
The rest$1.8T44.8%
Index total $4.1T
Revenue · Sep 2024
trailing twelve months
Top 10$2.3T57.3%
The rest$1.7T42.7%
Index total $4.0T
Revenue · Dec 2024
trailing twelve months
Top 10$2.4T58.3%
The rest$1.7T41.7%
Index total $4.1T
Revenue · Mar 2025
trailing twelve months
Top 10$2.5T58.6%
The rest$1.7T41.4%
Index total $4.2T
Revenue · Jun 2025
trailing twelve months
Top 10$2.5T58.9%
The rest$1.8T41.1%
Index total $4.3T
Revenue · Sep 2025
trailing twelve months
Top 10$2.4T53.2%
The rest$2.1T46.8%
Index total $4.4T
Revenue · Dec 2025
trailing twelve months
Top 10$2.5T54.0%
The rest$2.1T46.0%
Index total $4.6T
Revenue · Mar 2026
trailing twelve months
Top 10$3.6T65.6%
The rest$1.9T34.4%
Index total $5.5T
Revenue · Jun 2026
trailing twelve months
Top 10$2.7T47.5%
The rest$3.0T52.5%
Index total $5.7T
$0$1.0T$2.0T$3.0T$4.0T$5.0T
Net income
Top 10The rest
20212223242526
Net income · Sep 2019
trailing twelve months
Top 10$216B59.6%
The rest$146B40.4%
Index total $363B
Net income · Dec 2019
trailing twelve months
Top 10$222B59.9%
The rest$148B40.1%
Index total $370B
Net income · Mar 2020
trailing twelve months
Top 10$216B58.1%
The rest$156B41.9%
Index total $371B
Net income · Jun 2020
trailing twelve months
Top 10$205B57.6%
The rest$151B42.4%
Index total $355B
Net income · Sep 2020
trailing twelve months
Top 10$197B55.7%
The rest$157B44.3%
Index total $355B
Net income · Dec 2020
trailing twelve months
Top 10$231B59.3%
The rest$159B40.7%
Index total $390B
Net income · Mar 2021
trailing twelve months
Top 10$285B65.7%
The rest$149B34.3%
Index total $434B
Net income · Jun 2021
trailing twelve months
Top 10$310B60.9%
The rest$199B39.1%
Index total $509B
Net income · Sep 2021
trailing twelve months
Top 10$327B58.2%
The rest$235B41.8%
Index total $562B
Net income · Dec 2021
trailing twelve months
Top 10$360B60.6%
The rest$234B39.4%
Index total $595B
Net income · Mar 2022
trailing twelve months
Top 10$351B58.5%
The rest$249B41.5%
Index total $600B
Net income · Jun 2022
trailing twelve months
Top 10$332B58.6%
The rest$234B41.4%
Index total $566B
Net income · Sep 2022
trailing twelve months
Top 10$321B60.3%
The rest$211B39.7%
Index total $532B
Net income · Dec 2022
trailing twelve months
Top 10$288B60.8%
The rest$185B39.2%
Index total $473B
Net income · Mar 2023
trailing twelve months
Top 10$291B63.0%
The rest$171B37.0%
Index total $461B
Net income · Jun 2023
trailing twelve months
Top 10$314B63.2%
The rest$182B36.8%
Index total $497B
Net income · Sep 2023
trailing twelve months
Top 10$349B64.1%
The rest$195B35.9%
Index total $544B
Net income · Dec 2023
trailing twelve months
Top 10$398B64.7%
The rest$217B35.3%
Index total $615B
Net income · Mar 2024
trailing twelve months
Top 10$430B66.5%
The rest$216B33.5%
Index total $646B
Net income · Jun 2024
trailing twelve months
Top 10$466B70.6%
The rest$194B29.4%
Index total $660B
Net income · Sep 2024
trailing twelve months
Top 10$480B71.4%
The rest$193B28.6%
Index total $673B
Net income · Dec 2024
trailing twelve months
Top 10$513B71.9%
The rest$201B28.1%
Index total $713B
Net income · Mar 2025
trailing twelve months
Top 10$547B72.6%
The rest$206B27.4%
Index total $754B
Net income · Jun 2025
trailing twelve months
Top 10$582B70.9%
The rest$239B29.1%
Index total $822B
Net income · Sep 2025
trailing twelve months
Top 10$611B69.2%
The rest$272B30.8%
Index total $883B
Net income · Dec 2025
trailing twelve months
Top 10$667B71.2%
The rest$270B28.8%
Index total $937B
Net income · Mar 2026
trailing twelve months
Top 10$789B73.6%
The rest$283B26.4%
Index total $1.1T
Net income · Jun 2026
trailing twelve months
Top 10$914B73.0%
The rest$339B27.0%
Index total $1.3T
$0$200B$400B$600B$800B$1.0T$1.2T
Operating cash flow
Top 10The rest
20212223242526
Operating cash flow · Sep 2019
trailing twelve months
Top 10$330B58.7%
The rest$232B41.3%
Index total $562B
Operating cash flow · Dec 2019
trailing twelve months
Top 10$345B60.3%
The rest$227B39.7%
Index total $573B
Operating cash flow · Mar 2020
trailing twelve months
Top 10$327B57.0%
The rest$247B43.0%
Index total $574B
Operating cash flow · Jun 2020
trailing twelve months
Top 10$332B56.3%
The rest$257B43.7%
Index total $589B
Operating cash flow · Sep 2020
trailing twelve months
Top 10$309B50.8%
The rest$299B49.2%
Index total $608B
Operating cash flow · Dec 2020
trailing twelve months
Top 10$369B56.2%
The rest$287B43.8%
Index total $656B
Operating cash flow · Mar 2021
trailing twelve months
Top 10$428B61.0%
The rest$273B39.0%
Index total $700B
Operating cash flow · Jun 2021
trailing twelve months
Top 10$419B57.3%
The rest$312B42.7%
Index total $732B
Operating cash flow · Sep 2021
trailing twelve months
Top 10$409B53.7%
The rest$352B46.3%
Index total $762B
Operating cash flow · Dec 2021
trailing twelve months
Top 10$448B56.9%
The rest$339B43.1%
Index total $787B
Operating cash flow · Mar 2022
trailing twelve months
Top 10$461B56.6%
The rest$353B43.4%
Index total $814B
Operating cash flow · Jun 2022
trailing twelve months
Top 10$453B57.3%
The rest$338B42.7%
Index total $790B
Operating cash flow · Sep 2022
trailing twelve months
Top 10$454B58.1%
The rest$328B41.9%
Index total $782B
Operating cash flow · Dec 2022
trailing twelve months
Top 10$438B56.6%
The rest$336B43.4%
Index total $773B
Operating cash flow · Mar 2023
trailing twelve months
Top 10$445B58.0%
The rest$323B42.0%
Index total $769B
Operating cash flow · Jun 2023
trailing twelve months
Top 10$482B58.5%
The rest$342B41.5%
Index total $824B
Operating cash flow · Sep 2023
trailing twelve months
Top 10$522B60.1%
The rest$346B39.9%
Index total $868B
Operating cash flow · Dec 2023
trailing twelve months
Top 10$557B61.3%
The rest$352B38.7%
Index total $909B
Operating cash flow · Mar 2024
trailing twelve months
Top 10$586B61.0%
The rest$374B39.0%
Index total $960B
Operating cash flow · Jun 2024
trailing twelve months
Top 10$621B63.7%
The rest$354B36.3%
Index total $976B
Operating cash flow · Sep 2024
trailing twelve months
Top 10$652B64.4%
The rest$361B35.6%
Index total $1.0T
Operating cash flow · Dec 2024
trailing twelve months
Top 10$683B63.6%
The rest$390B36.4%
Index total $1.1T
Operating cash flow · Mar 2025
trailing twelve months
Top 10$717B64.1%
The rest$401B35.9%
Index total $1.1T
Operating cash flow · Jun 2025
trailing twelve months
Top 10$739B63.7%
The rest$422B36.3%
Index total $1.2T
Operating cash flow · Sep 2025
trailing twelve months
Top 10$784B63.3%
The rest$454B36.7%
Index total $1.2T
Operating cash flow · Dec 2025
trailing twelve months
Top 10$873B64.7%
The rest$477B35.3%
Index total $1.4T
Operating cash flow · Mar 2026
trailing twelve months
Top 10$985B67.2%
The rest$481B32.8%
Index total $1.5T
Operating cash flow · Jun 2026
trailing twelve months
Top 10$940B59.6%
The rest$636B40.4%
Index total $1.6T
$0$500B$1.0T$1.5T
Free cash flow
Top 10The rest
20212223242526
Free cash flow · Sep 2019
trailing twelve months
Top 10$220B58.3%
The rest$157B41.7%
Index total $378B
Free cash flow · Dec 2019
trailing twelve months
Top 10$235B61.3%
The rest$148B38.7%
Index total $384B
Free cash flow · Mar 2020
trailing twelve months
Top 10$221B58.2%
The rest$159B41.8%
Index total $380B
Free cash flow · Jun 2020
trailing twelve months
Top 10$226B56.5%
The rest$174B43.5%
Index total $400B
Free cash flow · Sep 2020
trailing twelve months
Top 10$212B51.4%
The rest$200B48.6%
Index total $413B
Free cash flow · Dec 2020
trailing twelve months
Top 10$251B56.1%
The rest$197B43.9%
Index total $448B
Free cash flow · Mar 2021
trailing twelve months
Top 10$287B59.7%
The rest$194B40.3%
Index total $480B
Free cash flow · Jun 2021
trailing twelve months
Top 10$281B56.6%
The rest$215B43.4%
Index total $497B
Free cash flow · Sep 2021
trailing twelve months
Top 10$270B52.6%
The rest$244B47.4%
Index total $515B
Free cash flow · Dec 2021
trailing twelve months
Top 10$301B57.1%
The rest$226B42.9%
Index total $528B
Free cash flow · Mar 2022
trailing twelve months
Top 10$302B56.1%
The rest$236B43.9%
Index total $538B
Free cash flow · Jun 2022
trailing twelve months
Top 10$283B56.5%
The rest$218B43.5%
Index total $501B
Free cash flow · Sep 2022
trailing twelve months
Top 10$277B58.6%
The rest$196B41.4%
Index total $473B
Free cash flow · Dec 2022
trailing twelve months
Top 10$256B56.6%
The rest$197B43.4%
Index total $453B
Free cash flow · Mar 2023
trailing twelve months
Top 10$265B59.8%
The rest$178B40.2%
Index total $442B
Free cash flow · Jun 2023
trailing twelve months
Top 10$304B60.8%
The rest$196B39.2%
Index total $501B
Free cash flow · Sep 2023
trailing twelve months
Top 10$348B63.2%
The rest$202B36.8%
Index total $550B
Free cash flow · Dec 2023
trailing twelve months
Top 10$385B64.8%
The rest$209B35.2%
Index total $594B
Free cash flow · Mar 2024
trailing twelve months
Top 10$403B63.7%
The rest$230B36.3%
Index total $633B
Free cash flow · Jun 2024
trailing twelve months
Top 10$418B66.7%
The rest$209B33.3%
Index total $628B
Free cash flow · Sep 2024
trailing twelve months
Top 10$425B67.1%
The rest$209B32.9%
Index total $634B
Free cash flow · Dec 2024
trailing twelve months
Top 10$424B64.5%
The rest$233B35.5%
Index total $657B
Free cash flow · Mar 2025
trailing twelve months
Top 10$430B64.1%
The rest$241B35.9%
Index total $671B
Free cash flow · Jun 2025
trailing twelve months
Top 10$414B61.8%
The rest$256B38.2%
Index total $671B
Free cash flow · Sep 2025
trailing twelve months
Top 10$426B59.8%
The rest$286B40.2%
Index total $711B
Free cash flow · Dec 2025
trailing twelve months
Top 10$469B60.6%
The rest$305B39.4%
Index total $774B
Free cash flow · Mar 2026
trailing twelve months
Top 10$489B61.3%
The rest$309B38.7%
Index total $798B
Free cash flow · Jun 2026
trailing twelve months
Top 10$448B55.3%
The rest$363B44.7%
Index total $811B
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Members, ranks and weights are the fund's own filings, so these are the same ten companies the weight chart ranks (share classes combined), and a total moves with membership as well as with business — a company joining the index adds its whole trailing year to the bar. Each company's figures are the trailing twelve months it had filed for the quarter the index counts at that date, as reported to the SEC. Operating and free cash flow (operating cash flow less capex) leave financials out of both the top ten and the total: a bank's operating cash flow swings with its trading book and it reports no capex. A company with no figure is left out of both sides; members with figures hold at least 99.6% of the weight at every filing for revenue and 98.7% (of non-financial weight) for free cash flow, and a filing below 95% would be left blank.
The ten largest against the rest: margins, growth and capex#
The ten largest members combined against everyone else combined, at every filing. Each ratio is summed over the members that carry both of its inputs.
Net margin · net income ÷ revenue
15%20%25%30%
2020202120222023202420252026
Top 1034%Rest11%
Jun 2026
Top 1034%
Rest11%
Revenue growth · trailing twelve months vs a year earlier
What the market pays for the ten largest members combined against everyone else combined: total market value over total trailing-twelve-month revenue (P/S) or net income (P/E), at every filing — and the top ten's multiple divided by the rest's. These are aggregates of each group, not the S&P 500's own P/E.
Into the top ten since Sep 2019: NVIDIA Corp., Micron Technology, Inc., Advanced Micro Devices, Inc., Tesla, Inc., Broadcom Inc.. Out of it: Meta Platforms, Inc., Cisco Systems, Inc., Comcast Corp., PepsiCo, Inc., Adobe Inc.. The largest member has changed too — Microsoft Corp. then, NVIDIA Corp. now. Arrivals and departures are matched by ticker, so a company that renamed or re-listed in between (Facebook to Meta) can show up on both lists.
The ten largest companies hold 47.8% of QQQ as of Jun 2026, and the largest alone (NVIDIA Corp.) holds 7.6%. In Sep 2019 the top ten held 56.8%, so the index has become less top-heavy over that span.
When was Nasdaq-100 most concentrated?
On the filings we hold, the top ten peaked at 60.8% in Jun 2023, against 47.8% now. Our weights run from Sep 2019 onward.
How many stocks does the Nasdaq-100 really behave like?
By its weights, about 32 equally weighted stocks as of the Jun 2026 filing, against 20 in Sep 2019. That "effective number" is one over the sum of squared weights: the count of equal-weight stocks that would be exactly as concentrated as the index is, whatever its member count.
Do the largest Nasdaq-100 companies earn as much as their weight?
As of the Jun 2026 filing, the ten largest hold 48% of the fund's weight but produce 47% of its members' combined revenue, 73% of their net income and 55% of their free cash flow (financials excluded from the cash figures). Where the weight runs ahead of the earnings share, the market is paying more for each dollar those companies earn than for the rest of the fund's.
Does concentration make the index riskier?
It makes it less diversified than the member count suggests: when ten names are a third of the fund, its return is largely their return, and a sector shock that hits them hits everything. It is not a market-timing signal — concentration has risen for long stretches while the index compounded — but it does mean a cap-weighted position is a much more concentrated bet than "500 companies" sounds.
Weights are as filed by the tracking fund on Form N-PORT each quarter — the index's own weights, not a market-cap approximation — and a company's share classes are combined into one row, so “top ten” means ten companies. Our filings begin Sep 2019. See also the sector mix — the other way an index can be less diversified than its member count suggests. Not investment advice.
ChartRow is not affiliated with, sponsored by, or endorsed by S&P Dow Jones Indices LLC, S&P Global, Nasdaq, Inc., FTSE Russell, MSCI Inc., Robert Shiller, RSBB-I, LLC, or Yale University. "S&P 500®" and "S&P®" are registered trademarks of Standard & Poor's Financial Services LLC and "Dow Jones®" of Dow Jones Trademark Holdings LLC, both licensed to S&P Dow Jones Indices LLC; "Nasdaq-100®" is a registered trademark of Nasdaq, Inc.; "GICS®" is a trademark of MSCI Inc. and S&P Global; "CAPE®" is a registered trademark of RSBB-I, LLC; all other index names are trademarks of their owners. They are used here only to identify the index a fund tracks. ChartRow receives no data from, and holds no licence from, any index provider: the constituents and weights shown are the tracking fund's own holdings as reported in its public SEC filings, rolled forward by ChartRow from daily prices; returns are the fund's own market prices; long-run S&P 500 history comes from public research datasets, Robert Shiller's and Aswath Damodaran's, credited where used; and a current index level is ChartRow's estimate from the fund's price. These figures are ChartRow's own estimates and computations from public filings, prices and research records, provided for information only and without warranty of accuracy; they are not the fund's or any index provider's official figures and may differ from them.
