Leading Horsemen Index
LHI · Market Influence
Live · November 2025

Leading Horsemen
Index

A quantitative framework that identifies the companies with the greatest influence on the U.S. stock market by combining and normalizing the holdings of the S&P 500, Nasdaq-100, and Dow Jones Industrial Average.

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Constituents
503
SPY ∪ QQQ ∪ DIA
Top 10 Weight
34.6%
Market concentration
Top 25 Weight
52.3%
Influence share
LHI YTD
+24.6%
vs SPY +19.1%
AAPL98.40▲ 2.60%•
MSFT97.90▲ 1.80%•
NVDA95.10▲ 4.90%•
AMZN88.70▲ 1.20%•
GOOGL74.50▲ 0.90%•
GOOG71.90▲ 0.80%•
META78.20▲ 3.40%•
TSLA68.40▼ 1.60%•
BRK.B55.20▲ 0.50%•
JPM62.10▲ 1.10%•
V60.30▲ 0.40%•
UNH71.80▼ 0.70%•
LLY52.60▲ 3.10%•
AVGO74.90▲ 2.90%•
XOM41.20▲ 0.30%•
COST47.50▲ 1.50%•
MA38.90▲ 0.80%•
HD58.70▼ 0.20%•
PG44.60▲ 0.60%•
JNJ43.10▼ 0.40%•
CRM51.80▲ 2.20%•
CAT46.90▲ 1.40%•
GS48.20▲ 1.70%•
MRK38.40▼ 0.90%•
CVX39.20▲ 0.70%•
AAPL98.40▲ 2.60%•
MSFT97.90▲ 1.80%•
NVDA95.10▲ 4.90%•
AMZN88.70▲ 1.20%•
GOOGL74.50▲ 0.90%•
GOOG71.90▲ 0.80%•
META78.20▲ 3.40%•
TSLA68.40▼ 1.60%•
BRK.B55.20▲ 0.50%•
JPM62.10▲ 1.10%•
V60.30▲ 0.40%•
UNH71.80▼ 0.70%•
LLY52.60▲ 3.10%•
AVGO74.90▲ 2.90%•
XOM41.20▲ 0.30%•
COST47.50▲ 1.50%•
MA38.90▲ 0.80%•
HD58.70▼ 0.20%•
PG44.60▲ 0.60%•
JNJ43.10▼ 0.40%•
CRM51.80▲ 2.20%•
CAT46.90▲ 1.40%•
GS48.20▲ 1.70%•
MRK38.40▼ 0.90%•
CVX39.20▲ 0.70%•
LHI vs SPY

Monthly Return Composite

TTM · %
Top Influencers

Market Leaders

01
AAPL
Apple Inc.
98.4
+2.60%
02
MSFT
Microsoft Corp.
97.9
+1.80%
03
NVDA
NVIDIA Corp.
95.1
+4.90%
04
AMZN
Amazon.com Inc.
88.7
+1.20%
05
GOOGL
Alphabet Inc. Class A
74.5
+0.90%
06
GOOG
Alphabet Inc. Class C
71.9
+0.80%
View all 25 leaders
Platform

A research terminal for market influence.

Bloomberg-Style Dashboard

Real-time index composition, sector allocation, monthly returns, and market concentration in one unified surface.

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Sector Analysis

11 GICS sectors decomposed by top holdings, weight, trend, and month-over-month change.

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Market Leaders

The 25 companies with the highest Market Influence Score, ranked and normalized across SPY, QQQ, DIA.

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Methodology

Transparent, reproducible workflow from raw index holdings to the final Market Influence Score.

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Interactive Treemap

Finviz-style heatmap grouped by S&P sectors — rectangle size scaled by normalized weight.

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Monthly Reports

Downloadable institutional-grade research briefs published on the last trading day of every month.

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"

Which companies truly drive the U.S. stock market?

— The central research question of the LHI project