The S&P 500's rally this year has leaned on a very short list of giants.
From the December 31, 2025 close through Thursday, October 15, 2026, just 10 stocks added a combined $4.93 trillion in market value. That's 59% of the $8.35 trillion combined gain across S&P 500 stocks.
Apple leads the pack with about $1.02 trillion of added value. Nvidia added $741 billion and Micron $731 billion, followed by AMD at $568 billion, Alphabet at $441 billion and Microsoft at $414 billion.
Intel, Amazon, Exxon Mobil and Dell round out the top 10, each adding between $221 billion and $309 billion.
Chipmakers stand out. Nvidia, Micron, AMD and Intel together added about $2.35 trillion, and Micron's stock has more than tripled this year.
The chart values each company with its current shares outstanding on both dates, so the gains reflect price moves alone.
With that much of the gain packed into so few names, it's no surprise most stocks in the index are lagging it.
This chart first ran in Opening Bell Daily on October 16.
Get charts like this every morning. Join 200K+ investors on our free morning briefing. Get high-conviction stock ideas in your inbox. Upgrade to Best Ideas Club.
