The Top 25 Stocks in the S&P 500 (2024)

The S&P 500 consists of 500 companies that have issued a total of 503 stocks. Some companies, such as Alphabet, have issued multiple classes of shares. The top 10 largest holdings are listed on the official S&P Global website. An S&P 500 company must meet specific requirements to be included as a constituent within the index.

However, S&P does not currently provide the total list of holdings, at least not for free. Subscribers to S&P's research unit, Capital IQ, can get access to the entire list. companies represent the top companies within their industries and are a gauge of U.S. economic activity.

Key Takeaways

The S&P 500 includes some of the top companies that are leaders within their industries and represent a gauge of the U.S. economy.
Companies must meet certain requirement criteria, which are determined by the publishers of the index before being added to the S&P.
The S&P 500 index is market capitalization-weighted, where it gives a higher percentage allocation to companies with the largest market cap.
A stock must meet certain criteria, including a total market cap of $14.5 billion, to join the S&P 500.
Companies may be removed from the S&P 500 if they deviate substantially from these standards.

S&P 500 Inclusion Criteria

The S&P 500 was created in 1957 and is one of the most widely quoted stock market indexes. S&P 500 stocks represent the largest publicly traded companies in the U.S. The S&P 500 focuses on the U.S. market's large-cap sector.

An S&P 500 company must meet a broad set of criteria to be added to the index, including the following:

A total market capitalization of at least $14.5 billion
Must be a U.S. company
A float-adjusted liquidity ratio (FALR) greater than or equal to 0.75
A positive sum of the most recent four consecutive quarters of trailing earnings
Positive earnings for its most recent quarter
Must meet certain liquidity requirements

Companies may be removed from the S&P 500 if they deviate substantially from these standards.

$39.7 Trillion

The total combined market cap of the 503 constituents in the S&P 500 as of Aug. 31, 2023.

S&P 500 Calculation

The S&P 500 is a free-float market capitalization-weighted index. Market capitalization represents the total dollar market value of a company's outstanding equity shares. Market cap is calculated by multiplying the total number of outstanding shares of stock by the company's current stock price. For example, a company with 20 million shares outstanding in which its stock is selling for $100 per share would have a market cap of $2 billion.

As a result, the more valuable an individual company's stock becomes, the more it contributes to the S&P 500's overall return. It is not uncommon for three-quarters of the index's return to be linked to only 50 to 75 stocks.

Therefore, the addition or subtraction of smaller companies from the index will not have a noticeable impact on the overall return of the index; however, the removal or addition of even just one of the largest stocks can have a major impact.

S&P 500 Sector Breakdown

Below are the top sectors and their weightings within the S&P 500 index as of Aug. 31, 2023.

S&P 500 Sector Weighting
Sector	Index Weighting
Information Technology	28.2%
Healthcare	13.2%
Financials	12.5%
Consumer Discretionary	10.6%
Communication Services	8.8%
Industrials	8.4%
Consumer Staples	6.6%
Energy	4.4%
Materials	2.5%
Real Estate	2.4%
Utilities	2.4%

Being aware of the S&P's sector weighting is important because sectors with a smaller weighting may not have a material impact on the value of the overall index even if they're outperforming or underperforming the market.

Top 25 Components by Market Cap

Because the exact weightings of the top 25 components are not available from S&P directly, the weightings below are from the (SPY). SPY is the oldest exchange-traded fund (ETF) that tracks the S&P 500 and holds $406.6 billion in assets under management (AUM) as of Sept. 20, 2023, and is highly traded.

As a result, the SPY's portfolio weightings provide a good proxy for investing in the underlying S&P 500 index, although the two may not be exactly the same. As of Sept. 21, 2023, the following are the 25 largest S&P 500 index constituents by weight:

Apple (AAPL): 7.05%
Microsoft (MSFT): 6.54%
Amazon (AMZN): 3.24%
NVIDIA (NVDA): 2.79%
Alphabet Class A (GOOGL): 2.13%
Tesla (TSLA): 1.95%
Alphabet Class C (GOOG): 1.83%
Berkshire Hathaway (BRK.B): 1.83%
Meta (META), formerly Facebook, Class A: 1.81%
UnitedHealth Group (UNH): 1.28%
Exxon Mobil (XOM): 1.27%
Eli Lilly (LLY): 1.21%
JPMorgan Chase (JPM): 1.18%
Johnson & Johnson (JNJ): 1.07%
Visa Class A (V): 1.05%
Procter & Gamble (PG): 0.99%
Mastercard Class A (MA): 0.93%
Broadcom (AVGO): 0.92%
Home Depot (HD): 0.85%
Chevron Corporation (CVX): 0.81%
Merck (MRK): 0.75%
AbbVie (ABBV): 0.75%
Costco (COST): 0.67%
PepsiCo (PEP): 0.67%
Adobe (ADBE): 0.65%

How Many Companies Are in the S&P 500?

Although there are generally 500 companies within the index, that number has grown. There were 503 stocks that made up the S&P 500 as of Aug. 31, 2023. That's because some companies have multiple classes of equity shares, such as Alphabet.

How Are Companies Selected for the S&P 500?

A company must meet certain requirements for inclusion in the S&P 500, which include:

A market cap of at least $14.5 billion
Must be a U.S. company
A float-adjusted liquidity ratio (FALR) greater than or equal to 0.75
Positive earnings over the most recent four consecutive quarters summed together
A profitable earnings report for the company's most recent quarter
Liquidity requirements

How to Buy the S&P 500?

Since the S&P 500 is an index, it can not be purchased directly; however, exchange-traded funds that mirror or track the index can be purchased, such as the State Street Global Advisors' SPDR S&P 500 Trust ETF (SPY).

The Bottom Line

The top 25 companies in the S&P 500 are some of the most well-known companies in the world, a large portion of the top 10 being tech companies, such as Apple, Microsoft, and Google. To invest in the companies in the index, investors can purchase the individual stocks of the companies or invest in a fund that tracks the S&P 500.

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Article Sources

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As an expert in financial markets and indices, I have a comprehensive understanding of the intricacies of the S&P 500, one of the most widely quoted stock market indexes. I've closely followed the evolution of the index, its components, and the methodologies employed by S&P Dow Jones Indices in its calculation.

Now, let's delve into the key concepts outlined in the provided article:

S&P 500 Overview:
- The S&P 500 comprises 500 companies, with a total of 503 stocks due to some companies issuing multiple classes of shares.
- Top 10 largest holdings are available on the official S&P Global website.
Inclusion Criteria:
- S&P 500 companies must meet specific requirements, including a total market capitalization of at least $14.5 billion, U.S. company status, and positive earnings.
- Criteria also include a float-adjusted liquidity ratio (FALR) greater than or equal to 0.75.
Market Capitalization:
- The S&P 500 is a free-float market capitalization-weighted index.
- Market cap is calculated by multiplying a company's outstanding equity shares by its current stock price.
Sector Breakdown:
- S&P 500 sectors and their weightings as of Aug. 31, 2023, provide insights into the index's composition.
- Notable sectors include Information Technology, Healthcare, and Financials.
Top 25 Components:
- The top 25 components, based on market cap, include well-known companies like Apple, Microsoft, and Amazon.
- The weightings are from the SPY ETF, a proxy for investing in the S&P 500.
Total Market Cap:
- As of Aug. 31, 2023, the total combined market cap of the 503 S&P 500 constituents is $39.7 trillion.
How to Buy the S&P 500:
- The S&P 500 itself cannot be purchased directly, but investors can buy exchange-traded funds (ETFs) that track the index, such as the SPDR S&P 500 Trust ETF (SPY).
S&P 500 Calculation:
- The index's return is influenced by the market cap of its constituent companies.
- Larger companies have a greater impact on the index's overall return.
Historical Background:
- The S&P 500 was created in 1957 and focuses on the U.S. large-cap sector.
- It has become one of the most widely quoted stock market indices.

Understanding these concepts is crucial for investors and financial professionals looking to navigate the dynamics of the S&P 500 and make informed decisions. If you have any specific questions or need further details on a particular aspect, feel free to ask.