Nvidia Surpasses Apple as Top Holding in Vanguard S&P 500 ETF

The Vanguard S&P 500 ETF (VOO) has reached an unprecedented level of concentration in its portfolio. With over $1.7 trillion in assets, Nvidia now holds the top position at 7.50% of assets, surpassing Apple's 6.58%. This marks a significant shift from years past when Apple held the top spot.

The top 10 stocks in VOO account for 38% of the entire ETF, leaving the remaining 490 companies to fill out the other 62%. The information technology sector alone accounts for 37% of the fund, with Nvidia, Apple, Alphabet, Microsoft, and Amazon leading the way.

The concentration trend extends beyond VOO. The Technology Select Sector SPDR Fund (XLK) has delivered a 763% decade return, but that performance hinges on three names: Nvidia at 14.93%, Apple at 13.23%, and Microsoft at 11.84%. Meanwhile, the Invesco NASDAQ 100 ETF (QQQM) tracks the same Nasdaq-100 index but is built for long-term holders.