The Magnificent Seven are seven large US companies. On 13 October 2026 they made up 35.03% of SPY (the SPDR S&P 500 exchange-traded fund, or ETF). That is a little more than one dollar in every three held in the fund.
SPY is run by State Street, which publishes a holdings file each day. The fund holds the stocks in the S&P 500, the index of 500 large US companies, in the same proportions as the index. The seven are Nvidia, Apple, Microsoft, Alphabet, Amazon, Meta Platforms and Tesla. This guide says what each one sells, using its latest annual report. It then shows what each one weighs, using State Street's holdings file for SPY.
What are the Magnificent 7 stocks? The Magnificent Seven is a nickname for seven large US companies: Nvidia, Apple, Microsoft, Alphabet, Amazon, Meta Platforms and Tesla. It is a market label, not an index or an official list.
Together the seven were 35.03% of SPY on 13 October 2026.
Nvidia had the largest weight, its share of SPY, at 8.22%. Tesla had the smallest of the seven, at 1.57%.
Their businesses differ: Meta earned 97.6% of its revenue from advertising, while Nvidia earned 89.7% from selling chips and systems to data centres.
What does Magnificent Seven mean?
The label dates from 2023.
The label has no official membership rule. This guide uses the seven names above. Alphabet counts once, although it has two classes of shares.
A weight is a company's share of an index or a fund. It is set by market value, which is the share price multiplied by the number of shares available to trade. Our guide to the S&P 500 explains how it is built.
What each of the seven sells
Every figure below is from the company's latest annual report (Form 10-K) filed with the US Securities and Exchange Commission, in US dollars. The fiscal years differ, so each is named.
Nvidia designs chips and the systems around them. Its fiscal year to 25 January 2026 produced US$215.94 billion of revenue, of which Data Center brought in US$193.74 billion, or 89.7%. It has outside companies make its chips, a step covered in our semiconductor value chain guide.
Apple sells devices and services. In its fiscal year to 27 September 2025, iPhone brought in US$209.59 billion of US$416.16 billion in net sales, or 50.4%. Services, which include advertising, cloud storage, the App Store and payments, brought in US$109.16 billion, or 26.2%.
Microsoft sells software and cloud computing. Its fiscal year to 30 June 2026 produced US$331.84 billion of revenue. The Intelligent Cloud segment, which includes the Azure cloud service, brought in US$137.79 billion, or 41.5%. Productivity and Business Processes, which includes Microsoft 365 and LinkedIn, brought in US$140.00 billion, or 42.2%.
Alphabet owns Google. In 2025 it had revenue of US$402.84 billion. Google advertising, on Search, YouTube and its ad network, brought in US$294.69 billion, or 73.2%. Google Cloud brought in US$58.71 billion, or 14.6%.
Amazon runs an online store, a marketplace for outside sellers and a cloud business. Its 2025 net sales were US$716.92 billion. Its online stores brought in US$269.29 billion, or 37.6%. Amazon Web Services (AWS), its cloud business, brought in US$128.73 billion, or 18.0%. Advertising brought in US$68.64 billion, or 9.6%.
Meta Platforms owns Facebook, Instagram and WhatsApp. In 2025 it had revenue of US$200.97 billion. Advertising brought in US$196.18 billion, or 97.6%.
Tesla sells electric vehicles and energy storage. In 2025 it had revenue of US$94.83 billion, down from US$97.69 billion in 2024. Automotive brought in US$69.53 billion, or 73.3%. Energy generation and storage brought in US$12.77 billion, or 13.5%.
How big the seven's businesses are
Source: Form 10-K filings of each company; YX Insights
Chart 1 shows each company's revenue and net income for the fiscal year above. Net income is profit after all costs and tax, under US Generally Accepted Accounting Principles (GAAP).
Amazon had the largest revenue. Microsoft had the largest net income, at US$133.7 billion. Tesla was the smallest on both measures. Together, the seven reported US$2,379.49 billion of revenue and US$639.92 billion of net income.
What the seven weigh in the S&P 500
Source: State Street SPY holdings file dated 13 October 2026; YX Insights
Chart 2 shows the 12 largest companies in SPY on 13 October 2026, from State Street's holdings file for that date. Alphabet's two share classes, at 3.09% and 2.47%, are added together as 5.56%.
The seven weights are Nvidia 8.22%, Apple 7.41%, Microsoft 6.00%, Alphabet 5.56%, Amazon 3.77%, Meta Platforms 2.50% and Tesla 1.57%. They add up to 35.03%.
Market value sets the weights. Amazon has the largest revenue of the seven but the fifth-largest weight. Nvidia has the largest weight on US$215.94 billion of revenue, which is the fifth-largest of the seven.
If every company in a 500-company index counted equally, seven of them would make up 1.4%. Here they make up 35.03%.
The other five companies in the chart are Broadcom, Micron Technology, Advanced Micro Devices, Berkshire Hathaway and Eli Lilly. The label leaves out Broadcom, a chip company. At 2.53%, Broadcom outweighs Meta Platforms and Tesla. Tesla ranks ninth among the companies in the chart.
What the 35.03% means for an S&P 500 fund
The seven sit in three of the 11 stock market sectors. A sector is a group of companies in similar lines of business. Nvidia, Apple and Microsoft are in Information Technology. Alphabet and Meta Platforms are in Communication Services. Amazon and Tesla are in Consumer Discretionary. No single sector holds all seven. Our sectors guide explains the 11.
The arithmetic is direct. In SPY, US$35.03 of every US$100 sat in the seven on 13 October 2026. As an illustration of arithmetic, not a forecast: if all seven fell 10% and nothing else moved, the fund would fall about 3.5%.
Weights change daily with share prices. The 35.03% is a figure for one day, so it will differ on other days.
The Magnificent Seven is a nickname for seven businesses that sell very different things. On 13 October 2026, their combined weight was 35.03% of SPY.
Common questions about the Magnificent 7 stocks
Who are the Magnificent 7 stocks?
They are Nvidia, Apple, Microsoft, Alphabet, Amazon, Meta Platforms and Tesla. The name is a market nickname with no official list or index behind it. On 13 October 2026 the seven made up 35.03% of SPY, the S&P 500 exchange-traded fund run by State Street.
How much of the S&P 500 do the Magnificent 7 make up?
About 35% on 13 October 2026. State Street's SPY holdings file gives 35.03% for the seven, with Nvidia the largest at 8.22%. Alphabet is counted once, with its two share classes added together. Weights change daily with share prices, so the figure differs on other days.
Why is Alphabet counted once when it has two share classes?
Alphabet is one company with two listed share classes, Class A (GOOGL) and Class C (GOOG). On 13 October 2026 they weighed 3.09% and 2.47% in SPY. Added together, they give Alphabet's 5.56%, the fourth-largest weight in the fund.
Which of the Magnificent 7 has the most revenue?
Amazon, with US$716.92 billion of net sales in 2025. Apple was next at US$416.16 billion in its fiscal year to 27 September 2025. Revenue does not set the index weight. Nvidia has the largest weight at 8.22% on US$215.94 billion of revenue, the fifth-largest of the seven.
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