VOO Holdings: Top Stocks, Sectors, and Concentration
When you buy VOO, you own a tiny slice of 518 US companies. But the slices are deeply uneven. The 10 biggest stocks make up about 36% of the fund. The other ~508 make up the rest.
36.35% Other ~508
63.65%
Top 10 Holdings
As ofThese 10 stocks make up 36.35% of every dollar you invest in VOO. Bar widths are sized relative to the #1 holding so you can see rank at a glance. Prices update live.
Holdings weights as of , the most recent Vanguard quarterly disclosure. Prices delayed. Sources: Vanguard, Yahoo Finance. Verify current figures at investor.vanguard.com before investing.
Sector Breakdown
As ofVOO's sector weights mirror the S&P 500. Technology dominates because tech companies have the largest market caps right now, not because Vanguard chose to overweight the sector.
Technology alone outweighs Financial Services and Communication Services together (22.86%).
When VOO launched, Financials was the largest sector. Tech has nearly doubled its share since.
Traditional "defensive" sectors are a single-digit slice of VOO. The fund leans cyclical.
Sector weights as of . Sectors classified by Morningstar. Sources: Vanguard, StockAnalysis.com.
Holdings 11 to 25
Top 25 ≈ 50.2%The next 15 stocks bring the cumulative weight from 36% to about 50%. After that, no single holding exceeds 0.65%. The tail is very long.
Weights as of . Bar widths scaled to #11 (JPM at 1.42%). For the full list of all ~518 holdings, see Vanguard's VOO fund page.
How VOO Picks (and Drops) Stocks
The rule book
VOO follows the S&P 500 index. The index's committee picks stocks using hard rules: US headquarters, public listing, market cap above a threshold (roughly $18B as of 2026), adequate trading liquidity, and four consecutive quarters of positive GAAP earnings. Vanguard doesn't pick stocks. VOO just copies whatever the committee lists.
What's NOT in VOO
No direct crypto, no cannabis operators, no most SPACs, and very few recent IPOs. The profitability rule alone screens out a lot of fast-growing but unprofitable tech. A company like Coinbase only joined the S&P 500 after stringing together profitable quarters. Tesla took years of quarterly profits before entering the index in late 2020.
When holdings change
The index is reviewed every quarter (March, June, September, December). Additions and deletions can also happen mid-quarter after mergers, acquisitions, or a major size drop. When the committee announces a change, VOO rebalances within days. You, as a VOO holder, do nothing. The 0.03% expense ratio covers all of it.
Concentration over time
A decade ago, the top 10 S&P 500 stocks were about 20% of the index. Today it's over 36%. The index didn't change the rules. The biggest companies just grew faster than the rest. If tech mean-reverts, concentration shrinks automatically. If it keeps compounding, concentration grows.
Frequently Asked Questions
How many stocks does VOO hold?
VOO holds approximately 518 stocks as of February 2026. The count sits slightly above 500 because several S&P 500 companies have multiple share classes in the index (for example, Alphabet has GOOGL and GOOG). Each share class is counted as a separate holding.
What are VOO's top 10 holdings?
As of February 28, 2026: NVIDIA (7.31%), Apple (6.63%), Microsoft (4.95%), Amazon (3.47%), Alphabet Class A (3.08%), Broadcom (2.56%), Alphabet Class C (2.46%), Meta (2.40%), Tesla (1.92%), Berkshire Hathaway (1.57%). Combined, they represent about 36.35% of the fund.
What is VOO's largest sector?
Technology is VOO's largest sector at 33.14% of the portfolio. Financial Services (12.10%) and Communication Services (10.76%) round out the top three. Technology alone is larger than the next two sectors combined.
Is VOO too concentrated in tech stocks?
About a third of VOO sits in Technology, and the top 10 holdings account for over 36% of the fund. That concentration reflects the current market, not a sector bet by Vanguard. VOO is market-cap weighted, so the biggest companies automatically get the biggest slots. Investors worried about concentration can pair VOO with small-cap, international, or value-tilted funds to balance it. See our concentration risk guide for a deeper look.
How often does VOO rebalance its holdings?
The S&P 500 committee reviews the index quarterly in March, June, September, and December. Additions and deletions can also happen mid-quarter after mergers, acquisitions, or when a company no longer meets the size and liquidity requirements. VOO automatically adjusts to match.
What percentage of VOO is in the top 10 holdings?
The top 10 holdings make up roughly 36.35% of VOO's assets, heavily weighted toward mega-cap technology. A decade ago that number was closer to 20%. The increase reflects the outsized growth of the largest tech companies, not a change in Vanguard's methodology.
Does VOO hold the exact same stocks as SPY and IVV?
Yes. VOO, SPY, and IVV all track the S&P 500 index, so they hold the same 500+ companies at the same market-cap weights. Small timing differences in cash management can create tiny tracking variances, but functionally the three funds are interchangeable on holdings. They differ on fees, liquidity, and fund structure, not on what they own.
Why does VOO sometimes hold more or fewer than 500 stocks?
The name "S&P 500" refers to the methodology, not a strict count. The index occasionally dips below 500 briefly after a merger or acquisition, then rebounds once a replacement is added. It can also sit above 500 when a company has multiple share classes in the index (for example, Alphabet's GOOG and GOOGL count separately).
What is the Magnificent 7 and how much of VOO is in it?
The "Magnificent 7" refers to Apple, Microsoft, NVIDIA, Amazon, Alphabet (Class A plus Class C), Meta, and Tesla. In VOO, these seven companies combined represent roughly 30% of the fund. When you buy $1,000 of VOO, about $300 flows into those seven names and the other $700 spreads across ~511 companies.
Does VOO hold any cryptocurrencies, cannabis stocks, or SPACs?
No. The S&P 500 committee applies profitability, size, and liquidity filters that exclude most crypto-native companies, cannabis operators, and SPACs. Companies in those industries can enter VOO if they list on a US exchange, meet size thresholds, and post four consecutive quarters of positive GAAP earnings. Coinbase is the most notable crypto-adjacent S&P 500 member.