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Ranked lists

Top 100: Most profitable companies

Backtest from 31 Mar 2010 to 30 Sept 2026 · quarterly · hypothetical

Watch this strategy
Return a year
+13.8%
S&P 500 +14.0%
Last 12 months
+23.1%
S&P 500 +15.7%
Sharpe ratio
0.87
S&P 500 0.86
Biggest drop
−24.7%
S&P 500 −23.9%
$10.0k$20.0k$40.0k$80.0k 201020122014201620182020202220242026 $87.2k$84.2k
StrategyS&P 500 $10,000 in Top 100: Most profitable companies from 31 Mar 2010 against the S&P 500 (total return) over the same dates, marked quarterly, log scale. Hypothetical: before taxes and trading costs.

About

Holds the top 100 companies on our “most profitable companies” list, equal weight, rebuilt every quarter from figures in quarters that ended at least 90 days earlier, the same rules as the live list.

The live list →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+13.8%+14.0%
Total return+742%+772%
Last 12 months+23.1%+15.7%
Last 3 months+1.8%—
Last month+1.8%—
This year so far+17.9%—
Volatility a year14.6%15.1%
Sharpe ratio0.870.86
Biggest drop−24.7%−23.9%
Beta to the S&P 5000.911.00
Alpha a year (t-statistic)+0.8% (0.64)—
Share of quarters up82%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
GOOGL1.0%——
NVDA1.0%——
AMZN1.0%——
MSFT1.0%——
AAPL1.0%——
JPM1.0%——
MU1.0%——
BAC1.0%——
XOM1.0%——
AVGO1.0%——
LLY1.0%——
TM1.0%——
WMT1.0%——
WFC1.0%——
T1.0%——
JNJ1.0%——
GS1.0%——
CVX1.0%——
MS1.0%——
C1.0%——
ORCL1.0%——
VZ1.0%——
PG1.0%——
BABA1.0%——
UNH1.0%——
HD1.0%——
KO1.0%——
NFLX1.0%——
ALL1.0%——
CSCO1.0%——
PGR1.0%——
AXP1.0%——
CB1.0%——
PM1.0%——
CAT1.0%——
IBM1.0%——
TMUS1.0%——
COF1.0%——
PEP1.0%——
SCHW1.0%——
BHP1.0%——
UBER1.0%——
GEV1.0%——
NEE1.0%——
BMY1.0%——
COP1.0%——
QCOM1.0%——
GE1.0%——
COST1.0%——
MCD1.0%——
AMGN1.0%——
DIS1.0%——
NEM1.0%——
MPC1.0%——
AMAT1.0%——
DELL1.0%——
TRV1.0%——
HON1.0%——
USB1.0%——
CRM1.0%——
HDB1.0%——
MO1.0%——
RTX1.0%——
PNC1.0%——
UNP1.0%——
LRCX1.0%——
LIN1.0%——
ADBE1.0%——
VLO1.0%——
BKNG1.0%——
PSX1.0%——
TMO1.0%——
EOG1.0%——
HCA1.0%——
LOW1.0%——
BLK1.0%——
OXY1.0%——
WDC1.0%——
AMD1.0%——
CI1.0%——
ABBV1.0%——
EPD1.0%——
BNY1.0%——
LMT1.0%——
TXN1.0%——
TJX1.0%——
TFC1.0%——
ABT1.0%——
DUK1.0%——
APH1.0%——
ELV1.0%——
SPGI1.0%——
PYPL1.0%——
CVS1.0%——
AFL1.0%——
KLAC1.0%——
MDT1.0%——
DE1.0%——
MPLX1.0%——
ACGL1.0%——

Equal weight at the latest rebalance, rebuilt every quarter.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest31 Mar 2010 to 30 Sept 2026+13.8%+14.0%0.870.86−24.7%0.91+0.8% (0.64)
2018 onwards31 Mar 2018 to 30 Sept 2026+13.5%+15.1%0.690.75−24.7%0.88−0.0% (0.00)
Last three years31 Dec 2023 to 30 Sept 2026+21.8%+20.2%1.901.25−0.2%0.59+7.3% (2.07)
DateCompanyAction
30 Sept 2026WDCBought
30 Sept 2026VLOBought
30 Sept 2026SPGIBought
30 Sept 2026PSXBought
30 Sept 2026OXYBought
30 Sept 2026MPLXBought
30 Sept 2026MPCBought
30 Sept 2026MDTBought
30 Sept 2026LMTBought
30 Sept 2026KLACBought
30 Sept 2026HONBought
30 Sept 2026CVSBought
30 Sept 2026COFBought
30 Sept 2026BHPBought
30 Sept 2026APHBought
30 Sept 2026AFLBought
30 Sept 2026ABBVBought
30 Jun 2026TMBought
30 Jun 2026TFCBought
30 Jun 2026HDBBought
30 Jun 2026GEVBought
30 Jun 2026DUKBought
30 Jun 2026BABABought
30 Jun 2026AMDBought
30 Jun 2026ACGLBought

Dated at the rebalance that made the change.

DateCompanyAction
30 Sept 2026ULSold
30 Sept 2026UBSSold
30 Sept 2026SHELSold
30 Sept 2026SAPSold
30 Sept 2026PFESold
30 Sept 2026PDDSold
30 Sept 2026PBRSold
30 Sept 2026NVOSold
30 Sept 2026MRKSold
30 Sept 2026HSBCSold
30 Sept 2026GSKSold
30 Sept 2026GILDSold
30 Sept 2026CNQSold
30 Sept 2026BUDSold
30 Sept 2026BTISold
30 Sept 2026BSold
30 Sept 2026ASMLSold
30 Jun 2026TDSold
30 Jun 2026RYSold
30 Jun 2026LNGSold
30 Jun 2026LMTSold
30 Jun 2026DALSold
30 Jun 2026CMSold
30 Jun 2026BNSSold
30 Jun 2026BMOSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest