Whitney Tilson email discussing the ten 10 largest stocks in the S&P 500 by market cap are up 13.9% YTD.
I thought this was really interesting (and certainly explains why a lot of money managers are trailing the market this year, including me): the 10 largest stocks (by market cap) in the S&P 500 are up 13.9%, while the other 490 are down 5.8%. This 19.7% spread is the largest in 15 years and has only been larger twice (in 1998 & 1999, at the peak of the internet bubble).
10 Largest Stocks In The S&P 500
PS—The 10 largest stocks are (in order): Apple, Google (both classes of shares), Microsoft, Exxon Mobil, GE, J&J, Wells Fargo, Berkshire Hathaway, Amazon and JPMorgan Chase (the numbers would be even more skewed if the #11 stock, Facebook, were included, as it’s up 38% YTD).