Research Notebook · anuradharaja.com

S&P 500 — Top 50 by Index Weight
Revenue Geography & Concentration

These 50 companies represent the dominant weight of the S&P 500. The table compiles index weight, market capitalisation, total annual revenue (FY2024 10-K filings), and geographic revenue split where disclosed. The aim is a primary-source reference: each figure traces to company filings or real-time index data, with disclosure gaps flagged rather than estimated.

Index weight source Slickcharts / SPY holdings, Jun 2026
Revenue source FY2024 10-K / 20-F filings
Total S&P 500 mkt cap ~$67.5T
Compiled June 2026
Methodology note. Index weights are float-adjusted market-cap weights from SPY ETF holdings as of late June 2026. Market caps are approximated from weights × $67.5T index total. Revenue figures are from each company's most recent annual report (FY2024 for most; FY2025 where already filed). International revenue % is sourced from the geographic segment note in the 10-K — this is only disclosed where companies choose to report geographic segments. Where the split is not disclosed in a standardised way, the cell is marked "ND" (not disclosed) rather than estimated. "Partial" indicates the company discloses some but not all geographic splits, or uses region definitions that don't cleanly separate US from non-US. Alphabet's two share classes (GOOGL + GOOG) are combined as a single operating company entry. The international % for Berkshire Hathaway is ND because it is a conglomerate without consolidated geographic reporting.
~65% Estimated S&P 500 weight covered by these 50 companies
~$18.3T Combined annual revenue of all S&P 500 companies (TTM, GuruFocus)
~40% Weighted-avg international revenue share (disclosed companies)
8 of 11 GICS sectors represented in top 50
IT + AI Dominant theme — ~50% of top-50 weight is tech/semi
Intl revenue
High (>50%)
Mid (25–50%)
Low (<25%)
Not disclosed / ND
Filter sector
# Company Ticker Sector Wt % Cumul % Mkt Cap Revenue FY24 Rev/MCap Intl Revenue % Geographic note
1
NVIDIA
AI accelerators, data centre GPUs, networking
NVDA Info Tech
6.99%
6.99% $4,718B $130.5B 36x
87%
Taiwan/Singapore 29%, US 13%, China 13%, Other Asia 30%, Europe 15%. Highest intl exposure of any mega-cap.
2
Apple
Consumer devices, services (App Store, iCloud)
AAPL Info Tech
6.17%
13.16% $4,165B $391.0B 11x
56%
Americas 42%, Europe 24%, Greater China 17%, Japan 6%, Rest of Asia-Pacific 11%.
3
Microsoft
Cloud (Azure), productivity software, gaming
MSFT Info Tech
4.18%
17.34% $2,822B $245.1B 12x
49%
US 51%, Other countries 49%. FY2024 10-K discloses only US/non-US binary.
4
Amazon
E-commerce, AWS cloud, advertising, logistics
AMZN Cons Disc
3.74%
21.08% $2,524B $638.0B 4x
31%
North America 69%, International 31%. AWS not split geographically in standard disclosure — included in North America.
5
Alphabet (Google)
Search, YouTube, Google Cloud, advertising
GOOGL/GOOG Comm Svcs
6.16%
27.24% $4,158B $350.0B 12x
53%
US 47%, EMEA 29%, APAC 16%, Other Americas 8%. GOOGL+GOOG combined weight shown; two share classes in index.
7
Broadcom
Semiconductors, networking chips, VMware software
AVGO Info Tech
2.62%
29.86% $1,769B $51.6B 34x
72%
US 28%, Asia (ex-Japan) 50%, Europe 14%, Japan 8%. FY2024 includes full year of VMware post-acquisition.
8
Tesla
EVs, energy storage, autonomous driving, AI
TSLA Cons Disc
2.13%
31.99% $1,438B $97.7B 15x
49%
US 51%, China 22%, Other 27%. China revenue notably pressured in FY2024 amid domestic competition.
9
Meta Platforms
Social media (Facebook, Instagram, WhatsApp), advertising
META Comm Svcs
2.10%
34.09% $1,418B $164.5B 9x
59%
US & Canada 41%, Europe 22%, Asia-Pacific 19%, Rest of World 18%. All revenue is advertising.
10
Micron Technology
DRAM, NAND, HBM memory — primary AI/data centre beneficiary
MU Info Tech
1.92%
36.01% $1,296B $25.1B 52x
91%
US 9%, Taiwan 27%, China 14%, Japan 9%, Other 41%. Memory is an inherently global commodity market.
11
Eli Lilly
Pharmaceuticals — GLP-1s (Mounjaro, Zepbound), oncology
LLY Healthcare
1.62%
37.63% $1,094B $45.0B 24x
34%
US 66%, Outside US 34%. GLP-1 demand still predominantly US-driven; international penetration is the next growth phase.
12
Berkshire Hathaway
Diversified conglomerate — insurance, BNSF, utilities, equities
BRK.B Financials
1.59%
39.22% $1,073B $364.5B 3x
ND
No consolidated geographic segment reporting. Substantially US-domestic by operations; some equity holdings (BYD, Itochu) are international.
13
Walmart
Retail, grocery, Sam's Club, Flipkart (India)
WMT Cons Staples
1.36%
40.58% $918B $680.0B 1x
18%
Walmart US 69%, Sam's Club 13%, Walmart International 18%. International includes Walmex, Flipkart, China.
14
JPMorgan Chase
Banking — consumer, investment banking, asset management
JPM Financials
1.31%
41.89% $884B $177.6B 5x
22%
Primarily US; international revenue ~22% from CIB global operations. Segment disclosure limited to business lines, not geographies.
15
AMD
CPUs, GPUs, data centre chips — AI inference challenger
AMD Info Tech
1.29%
43.18% $871B $25.8B 34x
82%
Japan/Taiwan ~50%, China ~17%, Europe ~15%, US ~18%. Fabless — manufacturing via TSMC in Taiwan.
16
Intel
CPUs, foundry services — undergoing major restructure
INTC Info Tech
0.97%
44.15% $655B $53.1B 13x
75%
US 25%, Singapore 20%, Taiwan 14%, China 27%, Other 14%. Revenue fell ~2% YoY in FY2024 amid PC and data centre share losses.
17
Visa
Payment network — card processing, cross-border transactions
V Financials
0.95%
45.10% $641B $35.9B 18x
57%
US 43%, International 57%. Cross-border volume (international) is Visa's highest-margin revenue line.
18
Johnson & Johnson
Pharmaceuticals (Darzalex, Stelara), MedTech
JNJ Healthcare
0.91%
46.01% $614B $88.8B 7x
52%
US 48%, International 52%. Consumer segment divested (Kenvue spin-off 2023). Now Pharma + MedTech only.
19
Exxon Mobil
Integrated oil & gas — upstream, downstream, chemicals
XOM Energy
0.84%
46.85% $567B $399.5B 1x
61%
US 39%, Non-US 61%. Revenue is gross including energy commodity pass-throughs — high revenue, lower margins than tech.
20
Applied Materials
Semiconductor manufacturing equipment — CVD, etch, ion implant
AMAT Info Tech
0.77%
47.62% $520B $27.2B 19x
85%
Korea 34%, Taiwan 23%, Japan 13%, China 15%, US 15%. Chip equipment is almost entirely sold to non-US fabs.
21
Lam Research
Semiconductor etch and deposition equipment
LRCX Info Tech
0.73%
48.35% $493B $14.9B 33x
92%
Korea 34%, China 30%, Taiwan 18%, Japan 10%, US 8%. China exposure subject to export control risk.
22
Caterpillar
Construction & mining equipment, engines, financial products
CAT Industrials
0.69%
49.04% $466B $64.8B 7x
54%
North America 46%, EAME 28%, Asia-Pacific 15%, Latin America 11%. Infrastructure supercycle driving demand globally.
23
Cisco Systems
Networking hardware, security, collaboration software
CSCO Info Tech
0.67%
49.71% $452B $53.8B 9x
43%
Americas (mostly US) 57%, EMEA 27%, APJC 16%. FY2024 includes first full year of Splunk acquisition.
24
AbbVie
Biopharma — Skyrizi, Rinvoq (post-Humira biosimilar cliff)
ABBV Healthcare
0.66%
50.37% $445B $55.5B 8x
28%
US 72%, International 28%. Humira biosimilar entry hit international revenues first; US exclusivity lasted longer.
25
Mastercard
Payment network — cross-border transactions, value-added services
MA Financials
0.66%
51.03% $445B $28.2B 16x
68%
US 32%, International 68%. More globally exposed than Visa due to international card network dominance in EU and EM.
26
Oracle
Cloud infrastructure (OCI), databases, enterprise applications
ORCL Info Tech
0.65%
51.68% $439B $53.0B 8x
47%
Americas 53%, EMEA 30%, Asia-Pacific 17%. OCI (cloud) growing fastest; historically strong in EMEA enterprise market.
27
Costco Wholesale
Membership warehouse retail — bulk goods, private label
COST Cons Staples
0.63%
52.31% $425B $254.0B 2x
29%
US 71%, Canada 11%, Other International 18%. 868 warehouses globally; strong expansion in Asia and Europe.
28
Bank of America
Consumer banking, investment banking, wealth management
BAC Financials
0.61%
52.92% $412B $98.6B 4x
~12%
Predominantly US domestic. International via Global Banking & Markets. Partial disclosure.
29
UnitedHealth Group
Health insurance (UnitedHealthcare), Optum health services
UNH Healthcare
0.58%
53.50% $391B $400.3B 1x
~7%
Overwhelmingly US — health insurance is structurally domestic. International segment mainly Brazil/LatAm. Under regulatory scrutiny 2025.
30
GE Aerospace
Jet engines (LEAP, GE9X), MRO services — post-Vernova spin
GE Industrials
0.57%
54.07% $385B $36.0B 11x
52%
US 48%, International 52%. Post-Vernova spin-off (energy), now purely aviation. International MRO backlog is multi-decade.
31
Coca-Cola
Non-alcoholic beverages — concentrate model, global franchise
KO Cons Staples
0.52%
54.59% $351B $47.1B 7x
61%
North America 39%, EMEA 20%, Latin America 12%, Asia-Pacific 11%, Global Ventures 9%, Bottling Investments 9%.
32
Home Depot
Home improvement retail — Pro segment, SRS Distribution acquisition
HD Cons Disc
0.52%
55.11% $351B $159.5B 2x
~8%
Primarily US; ~8% from Canada and Mexico stores. One of the most domestically concentrated mega-caps.
33
Procter & Gamble
Consumer goods — Tide, Pampers, Gillette, Oral-B
PG Cons Staples
0.51%
55.62% $344B $84.0B 4x
57%
North America 43%, Europe 22%, Asia-Pacific/Africa/Middle East/India 24%, Greater China 9%, Latin America 9%.
34
Chevron
Integrated oil & gas — Permian, LNG, downstream refining
CVX Energy
0.51%
56.13% $344B $193.0B 1x
55%
US 45%, International 55%. Revenue is gross commodity flow; operating earnings split is closer to 50/50. Kazakhstan, Australia key international assets.
35
Morgan Stanley
Wealth management, investment banking, institutional securities
MS Financials
0.50%
56.63% $338B $61.8B 5x
~30%
Americas 70%, EMEA ~18%, Asia 12%. Wealth management (E*Trade, Eaton Vance) is predominantly US.
36
KLA Corporation
Semiconductor process control and inspection equipment
KLAC Info Tech
0.50%
57.13% $338B $10.0B 34x
88%
Korea 28%, Taiwan 27%, China 15%, Japan 9%, US 12%, Other 9%. Process control equipment — essential for sub-5nm yields.
37
Merck & Co
Pharmaceuticals — Keytruda (oncology), vaccines, animal health
MRK Healthcare
0.47%
57.60% $317B $63.6B 5x
45%
45%
US 55%, Outside US 45%. Keytruda (~50% of revenue) sold globally. Biosimilar cliff risk post-2028.
38
SanDisk (WDC spinoff)
NAND flash storage — enterprise SSDs, consumer flash
SNDK Info Tech
0.47%
58.07% $317B $7.2B 44x
~85%
Recently spun from Western Digital (2024). Flash memory is global commodity; Asia dominates customer base. Revenue/MCap ratio reflects valuation run-up.
39
Netflix
Streaming entertainment — 270M+ subscribers globally
NFLX Comm Svcs
0.46%
58.53% $310B $38.9B 8x
53%
US & Canada 47%, Europe/Middle East/Africa 27%, Latin America 14%, Asia-Pacific 12%. International subscriber growth outpacing US.
40
Goldman Sachs
Investment banking, asset management, trading
GS Financials
0.45%
58.98% $304B $53.5B 6x
~38%
Americas ~62%, International ~38%. International revenue from EMEA and Asia IB/markets operations. Exited consumer banking (Marcus) 2023.
41
GE Vernova
Power generation, wind energy, electrification — spun from GE 2024
GEV Industrials
0.42%
59.40% $284B $34.9B 8x
~62%
US ~38%, International ~62%. Gas turbines and grid equipment sold globally; offshore wind predominantly European customers.
42
Philip Morris International
Tobacco & nicotine — IQOS heated tobacco, ZYN nicotine pouches
PM Cons Staples
0.42%
59.82% $284B $37.9B 8x
~80%
Spun from Altria specifically to operate outside the US; US revenue is from Swedish Match (ZYN). One of the most international companies in the index.
43
Palantir Technologies
Data analytics, AI platforms — government and commercial
PLTR Info Tech
0.41%
60.23% $277B $2.9B 96x
38%
US 62%, International 38%. Highest Rev/MCap ratio in top 50 — pure valuation story. Government contracts heavily US-weighted.
44
Texas Instruments
Analog & embedded chips — industrial, automotive, consumer
TXN Info Tech
0.39%
60.62% $263B $15.6B 17x
~90%
Asia ~70% (China biggest single market), Americas ~10%, Europe ~20%. Industrial/auto cycle currently in downturn.
45
Dell Technologies
Servers, PCs, storage infrastructure — AI server buildout beneficiary
DELL Info Tech
0.38%
61.00% $257B $88.4B 3x
40%
Americas 60%, International 40%. AI server demand from hyperscalers driving Infrastructure Solutions Group. Revenue doubled in ISG segment FY2024.
46
Thermo Fisher Scientific
Lab instruments, reagents, pharma services, bioprocessing
TMO Healthcare
0.37%
61.37% $250B $42.9B 6x
58%
US 42%, Europe 26%, Asia-Pacific 21%, Other 11%. China exposure declining post-COVID sourcing shift; Europe bioprocessing strong.
47
Prologis
Industrial REIT — logistics warehouses, last-mile distribution
PLD Financials
0.37%
61.74% $250B $8.0B 31x
~35%
US ~65%, Other Americas/Europe/Asia ~35%. Beneficiary of e-commerce logistics buildout globally. REIT structure limits geography disclosure.
48
Nike
Athletic footwear & apparel — going through brand reset
NKE Cons Disc
0.36%
62.10% $243B $46.3B 5x
60%
North America 40%, Europe/Middle East/Africa 27%, Greater China 15%, Asia-Pacific/Latin America 18%. Undergoing CEO transition and strategy reset FY2025.
49
ServiceNow
Enterprise workflow software — AI-powered digital transformation
NOW Info Tech
0.35%
62.45% $236B $10.9B 22x
44%
North America 56%, International 44%. Strong EMEA enterprise penetration. Growing fast — 22% YoY revenue growth FY2024.
50
Intuitive Surgical
Robotic surgery (da Vinci systems) — procedural consumables model
ISRG Healthcare
0.35%
62.80% $236B $8.4B 28x
36%
US 64%, Outside US 36%. International expansion into Japan, Europe, China (despite regulatory headwinds). Consumables ~60% of revenue.

Sources & Caveats

Index weights: Slickcharts.com, sourced from SPY ETF holdings as of 30 June 2026. Weights fluctuate daily; these are indicative as of compilation date. Alphabet's GOOGL (3.19%) and GOOG (2.97%) are combined as one operating entity (6.16%) in the body of this table; in the index they occupy two separate slots and the cumulative weight column reflects this.

Market cap: Approximated as weight × $67.45T (total S&P 500 market cap per Slickcharts). Disfold.com and AlphaSense figures used for cross-check. Figures rounded to nearest $1B.

Revenue: Most recent full fiscal year 10-K or 20-F filing (FY2024 for the majority; FY2025 for companies with non-December fiscal year-ends). Revenue is as reported (GAAP) and includes all segments. For companies like Berkshire Hathaway and Exxon, the revenue figure includes high-volume commodity pass-through — not comparable to software gross margins.

International revenue %: Sourced from the geographic segment footnote in each company's annual report where disclosed. "ND" = company does not publish a clean US/non-US geographic breakdown. "~" prefix indicates estimate based on partial disclosure or segment-level approximation. This column should be treated as indicative rather than precise for "partial" entries.

Rev/MCap: Revenue divided by market cap — not a valuation multiple, but a useful ratio to show how revenue-heavy (low ratio = asset-light/high margin) vs revenue-rich (high ratio = commodity or volume business) the company is.

Rank 5 note: Alphabet occupies ranks 5 and 6 in the index (GOOGL and GOOG). Combined they represent ~6.16% of the index — larger than Microsoft. Shown as one row here for analytical clarity.

This document is a research compilation for analytical reference. It does not constitute investment advice. Data will become stale as filings and weights update.