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US mega-cap concentration
Tracks the market-cap weight of the 10 largest US-listed mega-cap stocks.
Observed 2026-09-08 · Fresh
Top 10
29.5%
US mega-cap market share
US mega-cap market share
Heavyweight concentration
| Rank | Name | Market | Mkt Cap | Weight |
|---|---|---|---|---|
| 1 | Top 10 US Mega-Caps - | US | 29.5T USD | 29.5% |
| 2 | NVIDIA Corporation NVDA | NASDAQ | 5.6T USD | 5.54% |
| 3 | Apple Inc. AAPL | NASDAQ | 4.7T USD | 4.66% |
| 4 | Alphabet Inc. GOOGL | NASDAQ | 4.1T USD | 4.12% |
| 5 | Microsoft Corporation MSFT | NASDAQ | 3.7T USD | 3.7% |
| 6 | Amazon.com, Inc. AMZN | NASDAQ | 2.8T USD | 2.78% |
| 7 | Taiwan Semiconductor Manufacturing Company Ltd. TSM | NYSE | 2T USD | 2.02% |
| 8 | Space Exploration Technologies Corp SPCX | NASDAQ | 2T USD | 2% |
| 9 | Broadcom Inc. AVGO | NASDAQ | 1.7T USD | 1.7% |
| 10 | Meta Platforms, Inc. META | NASDAQ | 1.6T USD | 1.57% |
| 11 | Tesla, Inc. TSLA | NASDAQ | 1.4T USD | 1.4% |
Interpretation guide
How to read U.S. mega-cap concentration
The U.S. Mega-Cap Concentration radar shows how much of the U.S. large-cap universe is controlled by the 10 largest companies. It is especially important when AI, semiconductor, and platform companies dominate index performance.
Measurement rules
The radar groups TradingView U.S. large-cap data by issuer and calculates the top-10 companies' combined market-cap weight. Companies with multiple share classes, such as Alphabet, are treated as one issuer to avoid double counting.
- Top 10 US Mega-Caps is the combined market-cap weight of the 10 largest companies.
- Multiple share classes such as GOOG and GOOGL are grouped into one Alphabet issuer.
- Each company weight is its share of the screened U.S. large-cap universe.
How to interpret it
Rising concentration means U.S. indexes depend more heavily on a small group of mega-cap earnings and valuations. High concentration with weak breadth often means the index is strong while the average stock is not.
- A rising top-10 weight signals mega-cap leadership.
- Rising concentration with weak Nasdaq breadth is a narrow rally.
- Falling concentration with improving breadth is a healthier rotation setup.
How to respond
When mega-cap concentration is high, index ETFs can look healthy even while individual opportunities narrow. Earnings events from AI and semiconductor leaders can also move global risk appetite.
- Separate index exposure risk from single-stock opportunity risk.
- If mega-caps start correcting, check spillover risk to Nasdaq and Korean growth stocks.
- If concentration eases while new highs broaden, expand the small- and mid-cap growth watchlist.
Related views
Related indicators and radar
S&P 500
The broad large-cap benchmark for U.S. equity conditions.
Links mega-cap concentration to the S&P 500 benchmark.
NASDAQ Composite
A global gauge for growth-stock and technology risk appetite.
Connects mega-cap concentration to the NASDAQ growth complex.
US market breadth
U.S. advance-decline breadth, high-low balance, and participation.
Checks whether mega-cap strength is masking weak breadth.
US 52-week highs + turnover
U.S. large caps at or near 52-week highs, sorted by turnover.
Tests whether concentration is accompanied by new-high expansion.