Largest 10 Companies listed on the Australian and US Share market
Australia — Top 10 (by market cap)
The largest Australian companies listed on the stock exchange include Commonwealth Bank (CBA), BHP, Westpac, National Australia Bank (NAB), ANZ, CSL, Wesfarmers, Macquarie Group, Goodman Group and Fortescue
The Australian large‑cap universe is heavily tilted toward:
- Materials / Mining / Energy / Resources — BHP, Rio Tinto, Fortescue, Woodside form a dominant cluster.
- Financials / Banking — The “Big Four” banks (CBA, NAB, ANZ, Westpac) plus Macquarie.
- Healthcare / Biotech — CSL is essentially the lone outlier from non‑commodity / non‑financial sectors.
This concentrated tilt means that the top 10 are not very diversified across sectors.
U.S. — Top 10 (by market cap)
The U.S. large‑cap landscape is dominated by mega‑technology and platform companies. The top 10 include, in various orders: Nvidia, Microsoft, Apple, Alphabet (Google), Amazon, Meta, Tesla, Berkshire Hathaway, Broadcom and Taiwan Semiconductor,
Sector themes:
- Information Technology / Semiconductors / Software / AI – Microsoft, Nvidia, Broadcom, Apple (to an extent) are core.
- Consumer / E‑commerce / Platforms – Amazon, Alphabet, Meta.
Market Concentration
- The top 10 U.S. and Australian stocks now represent a very large share of total index weight — approaching around 40 % of the total market value.
- The dominance of a few mega‑caps has been rising rapidly: in many recent periods, a handful of names (sometimes dubbed the “Magnificent 7 / 10”) drove the majority of index returns. Thus, the top U.S. names lean heavily into the “new economy” tech / platform space, with limited representation from financials, energy, industrials, etc.
- Concentration magnifies idiosyncratic risk: missteps in regulation, earnings disappointments, or macro shocks (e.g., rising rates harming “growth tech”) could disproportionately hurt those names and drag the broader index.
Summary
- The U.S. large‑cap universe is dominated by tech / growth names, heightening idiosyncratic and concentration risk.
- The Australian large‑cap universe is heavily weighted in resources and banking, offering sector risk and limited growth tilt.
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