S&P 500 concentration (2026)
The ten biggest companies in the S&P 500 hold 37.9% of it as of Jun 2026 — up from 22.8% in Sep 2019. The top five hold 27.9%, and NVIDIA Corp alone holds 7.5%. Weights are the index's own, from the tracking fund's quarterly SEC filings, so they reconcile with the constituents list.
Share of the index held by its largest members#
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.
Share of S&P 500 by index weight, as filed by the tracking fund each quarter.
Who is in the top ten now, and who was then#
| # | Jun 2026 | Weight | Sep 2019 | Weight |
|---|---|---|---|---|
| 1 | NVIDIA Corp | 7.52% | Microsoft Corp | 4.30% |
| 2 | Apple Inc | 6.59% | Apple Inc | 3.85% |
| 3 | Alphabet Inc | 5.84% | Alphabet Inc | 2.97% |
| 4 | Microsoft Corp | 4.30% | Amazon.com Inc | 2.92% |
| 5 | Amazon.com Inc | 3.62% | Facebook Inc | 1.73% |
| 6 | Broadcom Inc | 2.77% | Berkshire Hathaway Inc | 1.65% |
| 7 | Micron Technology Inc | 2.02% | JPMorgan Chase & Co | 1.52% |
| 8 | Meta Platforms Inc | 1.92% | Johnson & Johnson | 1.38% |
| 9 | Tesla Inc | 1.84% | Procter & Gamble Co/The | 1.26% |
| 10 | Eli Lilly & Co | 1.47% | Exxon Mobil Corp | 1.21% |
Into the top ten since Sep 2019: NVIDIA Corp, Broadcom Inc, Micron Technology Inc, Meta Platforms Inc, Tesla Inc, Eli Lilly & Co. Out of it: Facebook Inc, Berkshire Hathaway Inc, JPMorgan Chase & Co, Johnson & Johnson, Procter & Gamble Co/The, Exxon Mobil Corp. 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.
FAQ#
- How concentrated is the S&P 500?
- The ten largest companies hold 37.9% of the index as of Jun 2026, and the largest alone (NVIDIA Corp) holds 7.5%. In Sep 2019 the top ten held 22.8%, so the index has become markedly more top-heavy over that span.
- When was S&P 500 most concentrated?
- On the filings we hold, the top ten peaked at 40.7% in Dec 2025, against 37.9% now. Our weights run from Sep 2019 onward.
- Does concentration make the index riskier?
- It makes it less diversified than the member count suggests: when ten names are a third of the index, the index's 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., Robert Shiller, RSBB-I, LLC, or Yale University. "S&P 500®" and "Dow Jones®" are registered trademarks of S&P Dow Jones Indices LLC; "Nasdaq-100®" is a registered trademark of Nasdaq, Inc.; "CAPE®" is a registered trademark of RSBB-I, LLC. They are used here only to identify the indexes and series discussed. All index-related figures on this page are independently derived from public sources — SEC filings, the public Shiller S&P 500 monthly series, and our own computations — not from any index provider's data feed.
More on S&P 500
- Companies & weights500
- Stock performance500
- Sector weights38.9%
- Sector performance+43.8%
- Return calculator$1,726
- P/E ratio25.6
- Earnings per share$299.58
- Valuation bands25.6×