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Titans of the S&P 500: How 10 Megacap Stocks Dominate the Market
24 Aug
Summary
- Ten largest growth-focused U.S. companies now make up 38% of S&P 500
- Vanguard S&P 500 ETF provides low-cost exposure to these "Ten Titans"
- S&P 500's market cap has grown by $34.3 trillion, with the Ten Titans contributing over 50%
As of August 24th, 2025, the largest growth-focused U.S. companies by market capitalization are Nvidia, Microsoft, Apple, Amazon, Alphabet, Meta Platforms, Broadcom, Tesla, Oracle, and Netflix. This elite group, known as the "Ten Titans," has been instrumental in driving broader market gains in recent years, now making up around 38% of the S&P 500.
Vanguard's S&P 500 ETF (VOO) has emerged as one of the simplest ways for investors to gain significant exposure to these dominant players. With an expense ratio of just 0.03%, the fund provides low-cost access to 500 of the top U.S. companies. Over the last decade, the combined market cap of the Ten Titans has skyrocketed from $2.5 trillion to $20.2 trillion, contributing a staggering 51.6% of the S&P 500's $34.3 trillion market cap growth. Without these megacap growth companies, the index's gains would have been far more modest.
As the S&P 500 becomes increasingly concentrated in a handful of tech and tech-adjacent giants, the Vanguard S&P 500 ETF offers investors a straightforward way to participate in the market's upside, while also providing diversification across a broader range of sectors and industries.
