The actual list of all 500 stocks in the S&P 500 is called the Constituent List. It can be found on the official Standard & Poor's website under the Equities Indexes section, or by following this link.
- A constituent is a member or component of a market index or average like the S&P 500.
- Companies must meet certain requirement criteria, which are determined by the publishers of the index, before being added to an index.
- The value of an index is based on mathematical formulas that consider the share prices of all constituents within the index.
- You can find the current S&P 500 constituents on Standard & Poor's website.
S&P 500 Inclusion Criteria
The S&P 500 is one of the most widely quoted American stock market indexes because it represents the largest publicly traded corporations in the U.S. The S&P 500 focuses on the U.S. market's large-cap sector and is also a float-weighted index, meaning company market capitalizations are adjusted by the number of shares available for public trading.
To be added to the S&P 500, a stock must meet a broad spectrum of criteria, including a total market capitalization of at least $5 billion. Additionally, the stock must be issued by a U.S. company, have four consecutive quarters of positive earnings, and also meet certain liquidity requirements. Companies may be removed from the S&P 500 if they deviate substantially from these standards.
The total combined market cap of the 500 companies in the S&P 500 is $26.7 trillion, as of February 2020.
S&P 500 Calculation
The S&P 500 is a free float market capitalization weighted index. This means that 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. Hence, the addition or subtraction of smaller companies from the index most likely will not have a noticeable impact on the overall return of the index.
S&P 500 components are weighted by free float market capitalization. Larger companies affect the value of the index to a greater degree.
Top 25 Components by Market Cap
As of February 2020, the following are the twenty five largest S&P 500 index constituents by weight:
- Microsoft Corp (MSFT)
- Apple Inc. (AAPL)
- Amazon.com Inc (AMZN)
- Facebook Inc (FB)
- Berkshire Hathaway (BBRK.B)
- Alphabet Inc- A shares (GOOGL) & Alphabet Inc- C shares (GOOG)
- JP Morgan Chase & Co (JPM)
- Johnson (JNJ)
- Visa Inc (V)
- Procter & Gamble Company (PG)
- Mastercard Incorporated (MA)
- Intel Corp. (INTC)
- UnitedHealth Group (UNH)
- Bank of America (BAC)
- AT&T Inc. (T)
- Home Depot (HD)
- Exxon Mobil (XOM)
- Walt Disney Company (DIS)
- Verizon Communications (VZ)
- Coca-Cola Company (KO
- Merck & Co. (MRK)
- Comcast Corp.- A shares (CMCSA)
- Chevron (CVX)
- PepsiCo (PEP)
- Pfizer, Inc. (PFE)