Stats › Concentration and breadth › Magnificent 7
The Magnificent 7
The Magnificent 7 isn't an index and nobody manages one. It's a nickname that appeared in 2023 for the seven companies pulling that year's market higher, and it stuck because it was easier to say than listing Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla every time. That casualness matters more than it sounds, because a label with no official definition gets used as though it had one.
Here's why the group deserves a page anyway. As of the end of June 2026 those seven companies were 33.4% of the S&P 500, up from 21.6% in 2022. If you own a plain index fund, a third of your equity money is in seven names, and you didn't choose any of them. For three straight years they also produced most of the index's return, 62% of it in 2023, 53.7% in 2024, 42.5% in 2025. Then the first half of 2026 broke the pattern completely and they became a net drag.
So this page has the weights, the yearly contribution figures, the 2026 reversal, and the thing I find most interesting in the whole dataset, which is how far apart the seven have moved from each other. Three sources, dated at the bottom of the page. The contribution figures in particular depend on which seven you count, and I've shown what happens when you swap one name, so you can see the size of that wobble for yourself.
The Magnificent 7 made up 33.4% of the S&P 500 at the end of June 2026, up from 21.6% in 2022. They contributed 62% of the index's total return in 2023, 53.7% in 2024 and 42.5% in 2025. Then the pattern broke: in the first half of 2026 they subtracted 1.96 percentage points from the index return and lagged it by 7.6%, with a spread inside the group of more than thirty points between Apple up 14.8% and Microsoft down 21.4%.
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Below this point there are 7 sections, 1 chart and 3 named sources, roughly 1300 words of it. Every figure carries the source it came from and the date the data is from.
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