The Largest Foreign Private Issuers
The 100 largest foreign private issuers by market capitalization at the October 20, 2026 close. Country is the headquarters country reported by the data vendor.
| # | Ticker | Company | Exchange | Country | Market cap |
|---|---|---|---|---|---|
| 1 | TSM | Taiwan Semiconductor Manufacturing Company Limited | NYSE | Taiwan | $2.20T |
| 2 | SKHY | SK hynix Inc. | Nasdaq | South Korea | $992.31B |
| 3 | ASML | ASML Holding N.V. | Nasdaq | Netherlands | $629.93B |
| 4 | HSBC | HSBC Holdings plc | NYSE | United Kingdom | $324.20B |
| 5 | SHEL | Shell plc | NYSE | United Kingdom | $300.79B |
| 6 | NVS | Novartis AG | NYSE | Switzerland | $292.03B |
| 7 | RY | Royal Bank of Canada | NYSE | Canada | $276.00B |
| 8 | BABA | Alibaba Group Holding Limited | NYSE | China | $270.42B |
| 9 | SAP | SAP SE | NYSE | Germany | $266.82B |
| 10 | AZN | AstraZeneca PLC | NYSE | United Kingdom | $261.82B |
| 11 | MUFG | Mitsubishi UFJ Financial Group, Inc. | NYSE | Japan | $243.77B |
| 12 | ARM | Arm Holdings plc American Depositary Shares | Nasdaq | United Kingdom | $236.09B |
| 13 | TM | Toyota Motor Corporation | NYSE | Japan | $234.95B |
| 14 | BHP | BHP Group Limited | NYSE | Australia | $208.07B |
| 15 | TD | The Toronto-Dominion Bank | NYSE | Canada | $206.34B |
| 16 | TTE | TotalEnergies SE | NYSE | France | $200.61B |
| 17 | SAN | Banco Santander, S.A. | NYSE | Spain | $198.29B |
| 18 | NVO | Novo Nordisk A/S | NYSE | Denmark | $173.66B |
| 19 | BUD | Anheuser-Busch InBev SA/NV | NYSE | Belgium | $165.84B |
| 20 | PBR | Petróleo Brasileiro S.A. - Petrobras | NYSE | Brazil | $165.62B |
| 21 | SONY | Sony Group Corporation | NYSE | Japan | $151.18B |
| 22 | UBS | UBS Group AG | NYSE | Switzerland | $144.61B |
| 23 | RIO | Rio Tinto Group | NYSE | United Kingdom | $143.38B |
| 24 | UL | Unilever PLC | NYSE | United Kingdom | $142.74B |
| 25 | BBVA | Banco Bilbao Vizcaya Argentaria, S.A. | NYSE | Spain | $141.89B |
| 26 | BP | BP p.l.c. | NYSE | United Kingdom | $129.53B |
| 27 | BTI | British American Tobacco p.l.c. | NYSE | United Kingdom | $128.39B |
| 28 | MFG | Mizuho Financial Group, Inc. | NYSE | Japan | $120.85B |
| 29 | HDB | HDFC Bank Limited | NYSE | India | $118.28B |
| 30 | BMO | Bank of Montreal | NYSE | Canada | $116.41B |
| 31 | PDD | PDD Holdings Inc. | Nasdaq | Ireland | $116.19B |
| 32 | BNS | The Bank of Nova Scotia | NYSE | Canada | $112.47B |
| 33 | CNQ | Canadian Natural Resources Limited | NYSE | Canada | $111.69B |
| 34 | EQNR | Equinor ASA | NYSE | Norway | $109.40B |
| 35 | SPOT | Spotify Technology S.A. | NYSE | Sweden | $108.15B |
| 36 | ITUB | Itaú Unibanco Holding S.A. | NYSE | Brazil | $106.91B |
| 37 | IBN | ICICI Bank Limited | NYSE | India | $105.82B |
| 38 | CM | Canadian Imperial Bank of Commerce | NYSE | Canada | $102.74B |
| 39 | GSK | GSK plc | NYSE | United Kingdom | $101.97B |
| 40 | SNY | Sanofi | Nasdaq | France | $101.45B |
| 41 | AEM | Agnico Eagle Mines Limited | NYSE | Canada | $94.31B |
| 42 | ING | ING Groep N.V. | NYSE | Netherlands | $93.76B |
| 43 | SMFG | Sumitomo Mitsui Financial Group, Inc. | NYSE | Japan | $93.64B |
| 44 | SU | Suncor Energy Inc. | NYSE | Canada | $92.62B |
| 45 | ASX | ASE Technology Holding Co., Ltd. | NYSE | Taiwan | $89.65B |
| 46 | E | Eni S.p.A. | NYSE | Italy | $85.77B |
| 47 | NGG | National Grid plc | NYSE | United Kingdom | $83.56B |
| 48 | BN | Brookfield Corporation | NYSE | Canada | $83.31B |
| 49 | LYG | Lloyds Banking Group plc | NYSE | United Kingdom | $80.05B |
| 50 | NTES | NetEase, Inc. | Nasdaq | China | $79.73B |
| 51 | BCS | Barclays PLC | NYSE | United Kingdom | $75.32B |
| 52 | MFC | Manulife Financial Corporation | NYSE | Canada | $73.80B |
| 53 | CNI | Canadian National Railway Company | NYSE | Canada | $73.37B |
| 54 | NU | Nu Holdings Ltd. | NYSE | Brazil | $72.90B |
| 55 | RACE | Ferrari N.V. | NYSE | Italy | $70.20B |
| 56 | RELX | RELX Plc | NYSE | United Kingdom | $68.42B |
| 57 | AMX | América Móvil, S.A.B. de C.V. | NYSE | Mexico | $68.38B |
| 58 | B | Barrick Mining Corporation | NYSE | Canada | $66.54B |
| 59 | TRP | TC Energy Corporation | NYSE | Canada | $64.37B |
| 60 | TAK | Takeda Pharmaceutical Company Limited | NYSE | Japan | $63.90B |
| 61 | CVE | Cenovus Energy Inc. | NYSE | Canada | $61.17B |
| 62 | WPM | Wheaton Precious Metals Corp. | NYSE | Canada | $59.60B |
| 63 | DB | Deutsche Bank AG | NYSE | Germany | $59.57B |
| 64 | VALE | Vale S.A. | NYSE | Brazil | $55.41B |
| 65 | ARGX | argenx SE | Nasdaq | Netherlands | $54.38B |
| 66 | DEO | Diageo plc | NYSE | United Kingdom | $51.95B |
| 67 | ABEV | Ambev S.A. | NYSE | Brazil | $51.72B |
| 68 | INFY | Infosys Limited | NYSE | India | $51.55B |
| 69 | CCEP | Coca-Cola Europacific Partners PLC | Nasdaq | United Kingdom | $50.27B |
| 70 | SE | Sea Limited | NYSE | Singapore | $49.26B |
| 71 | UMC | United Microelectronics Corporation | NYSE | Taiwan | $49.06B |
| 72 | TRI | Thomson Reuters Corporation | Nasdaq | Canada | $48.88B |
| 73 | NOK | Nokia Oyj | NYSE | Finland | $48.72B |
| 74 | MT | ArcelorMittal S.A. | NYSE | Luxembourg | $47.64B |
| 75 | FNV | Franco-Nevada Corporation | NYSE | Canada | $46.51B |
| 76 | AU | AngloGold Ashanti Plc | NYSE | United States | $45.94B |
| 77 | WDS | Woodside Energy Group Ltd | NYSE | Australia | $44.81B |
| 78 | HLN | Haleon plc | NYSE | United Kingdom | $44.72B |
| 79 | HMC | Honda Motor Co., Ltd. | NYSE | Japan | $44.46B |
| 80 | SLF | Sun Life Financial Inc. | NYSE | Canada | $44.29B |
| 81 | FMX | Fomento Económico Mexicano, S.A.B. de C.V. | NYSE | Mexico | $43.99B |
| 82 | BBD | Banco Bradesco S.A. | NYSE | Brazil | $43.33B |
| 83 | KB | KB Financial Group Inc. | NYSE | South Korea | $42.32B |
| 84 | BSBR | Banco Santander (Brasil) S.A. | NYSE | Brazil | $42.08B |
| 85 | NBIS | Nebius Group N.V. | Nasdaq | Netherlands | $41.15B |
| 86 | STM | STMicroelectronics N.V. | NYSE | Switzerland | $40.86B |
| 87 | IX | ORIX Corporation | NYSE | Japan | $40.60B |
| 88 | VIK | Viking Holdings Ltd | NYSE | Bermuda | $38.95B |
| 89 | VOD | Vodafone Group Public Limited Company | Nasdaq | United Kingdom | $36.99B |
| 90 | CHT | Chunghwa Telecom Co., Ltd. | NYSE | Taiwan | $36.92B |
| 91 | EC | Ecopetrol S.A. | NYSE | Colombia | $36.35B |
| 92 | JD | JD.com, Inc. | Nasdaq | China | $36.14B |
| 93 | ERIC | Telefonaktiebolaget LM Ericsson (publ) | Nasdaq | Sweden | $35.74B |
| 94 | FER | Ferrovial N.V. | Nasdaq | Netherlands | $35.50B |
| 95 | NWG | NatWest Group plc | NYSE | United Kingdom | $35.25B |
| 96 | CCJ | Cameco Corporation | NYSE | Canada | $35.06B |
| 97 | ESLT | Elbit Systems Ltd. | Nasdaq | Israel | $34.88B |
| 98 | NTR | Nutrien Ltd. | NYSE | Canada | $32.94B |
| 99 | SHG | Shinhan Financial Group Co., Ltd. | NYSE | South Korea | $32.87B |
| 100 | ALC | Alcon Inc. | NYSE | Switzerland | $32.79B |
The remaining 1,040 are in the full constituent list on the Clay Total Market Index page.
By Country
Country is the company’s headquarters country as reported by the data vendor, not its country of incorporation, which for many foreign private issuers is an offshore jurisdiction.
| Country | Companies | Market cap | Share of foreign-issuer market cap |
|---|---|---|---|
| United Kingdom | 57 | $2.41T | 15.0% |
| Taiwan | 16 | $2.39T | 14.8% |
| Canada | 173 | $2.31T | 14.4% |
| South Korea | 11 | $1.14T | 7.1% |
| Japan | 24 | $1.03T | 6.4% |
| Netherlands | 15 | $956.58B | 6.0% |
| Brazil | 30 | $658.16B | 4.1% |
| China | 220 | $607.81B | 3.8% |
| Switzerland | 17 | $531.32B | 3.3% |
| Germany | 15 | $365.19B | 2.3% |
| Spain | 6 | $346.66B | 2.2% |
| France | 13 | $314.81B | 2.0% |
| India | 8 | $312.18B | 1.9% |
| Australia | 24 | $271.85B | 1.7% |
| Denmark | 5 | $214.51B | 1.3% |
| Mexico | 16 | $201.92B | 1.3% |
| Italy | 6 | $193.54B | 1.2% |
| Ireland | 10 | $182.56B | 1.1% |
| Belgium | 8 | $176.42B | 1.1% |
| Israel | 90 | $150.49B | 0.9% |
| Sweden | 7 | $145.54B | 0.9% |
| United States | 44 | $134.35B | 0.8% |
| Luxembourg | 12 | $122.37B | 0.8% |
| Singapore | 83 | $117.85B | 0.7% |
| Norway | 2 | $110.96B | 0.7% |
| Bermuda | 17 | $105.21B | 0.7% |
| Chile | 7 | $74.85B | 0.5% |
| Hong Kong | 81 | $69.14B | 0.4% |
| Finland | 3 | $68.11B | 0.4% |
| Colombia | 4 | $65.49B | 0.4% |
| South Africa | 5 | $62.07B | 0.4% |
| Argentina | 14 | $52.92B | 0.3% |
| Peru | 4 | $45.70B | 0.3% |
| Cayman Islands | 8 | $24.12B | 0.2% |
| Greece | 25 | $17.79B | 0.1% |
| Kazakhstan | 1 | $17.66B | 0.1% |
| Cyprus | 5 | $11.55B | 0.1% |
| Indonesia | 2 | $11.51B | 0.1% |
| United Arab Emirates | 10 | $10.69B | 0.1% |
| Panama | 2 | $7.16B | 0.0% |
| Monaco | 4 | $7.08B | 0.0% |
| Vietnam | 1 | $6.71B | 0.0% |
| Uruguay | 2 | $6.18B | 0.0% |
| Guernsey | 1 | $5.67B | 0.0% |
| Türkiye | 3 | $5.47B | 0.0% |
| Philippines | 2 | $4.43B | 0.0% |
| Jersey | 5 | $1.14B | 0.0% |
| Jordan | 1 | $1.05B | 0.0% |
| Gibraltar | 1 | $317.63M | 0.0% |
| Isle of Man | 1 | $285.93M | 0.0% |
| British Virgin Islands | 1 | $194.31M | 0.0% |
| Malaysia | 12 | $111.39M | 0.0% |
| Costa Rica | 1 | $87.49M | 0.0% |
| Macau | 2 | $56.34M | 0.0% |
| New Zealand | 1 | $23.79M | 0.0% |
| Cambodia | 1 | $1.94M | 0.0% |
| Thailand | 1 | $0.00M | 0.0% |
By Exchange
| Exchange | Companies | Market cap | Share of foreign-issuer market cap |
|---|---|---|---|
| NYSE | 349 | $12.72T | 79.1% |
| Nasdaq | 720 | $3.30T | 20.6% |
| NYSE American | 71 | $48.39B | 0.3% |
By Sector
| Sector | Companies | Market cap | Share of foreign-issuer market cap |
|---|---|---|---|
| Technology | 210 | $5.24T | 32.6% |
| Financial Services | 110 | $3.51T | 21.9% |
| Energy | 53 | $1.58T | 9.8% |
| Healthcare | 153 | $1.34T | 8.4% |
| Basic Materials | 133 | $1.23T | 7.7% |
| Consumer Cyclical | 118 | $1.10T | 6.9% |
| Consumer Defensive | 61 | $744.41B | 4.6% |
| Industrials | 186 | $539.46B | 3.4% |
| Communication Services | 72 | $491.30B | 3.1% |
| Utilities | 27 | $243.33B | 1.5% |
| Real Estate | 17 | $46.64B | 0.3% |
All figures: October 20, 2026 close. Sectors as classified by the data vendor (Financial Modeling Prep). Source: clay-total-market-index-latest.json, generated 2026-10-21T00:30:13.820Z.
US Domestic Filers Incorporated Abroad
479 companies file with the SEC as US domestic companies, on Form 10-K, but carry a non-US state-of-incorporation code in EDGAR. Their combined market capitalization was $2.47 trillion. The 25 largest:
| # | Ticker | Company | Exchange | Country | Market cap |
|---|---|---|---|---|---|
| 1 | LIN | Linde plc | Nasdaq | United Kingdom | $231.36B |
| 2 | SHOP | Shopify Inc. | Nasdaq | Canada | $225.12B |
| 3 | ACN | Accenture plc | NYSE | Ireland | $146.33B |
| 4 | CB | Chubb Limited | NYSE | Switzerland | $138.02B |
| 5 | ENB | Enbridge Inc. | NYSE | Canada | $106.74B |
| 6 | TT | Trane Technologies plc | NYSE | Ireland | $101.53B |
| 7 | JCI | Johnson Controls International plc | NYSE | Ireland | $89.61B |
| 8 | CP | Canadian Pacific Kansas City Ltd. | NYSE | Canada | $76.77B |
| 9 | SLB | Slb N.V. | NYSE | United States | $74.18B |
| 10 | BAM | Brookfield Asset Management Ltd. | NYSE | United States | $73.36B |
| 11 | AON | Aon plc | NYSE | Ireland | $62.93B |
| 12 | CRH | CRH plc | NYSE | Ireland | $56.70B |
| 13 | GRMN | Garmin Ltd. | NYSE | Switzerland | $55.99B |
| 14 | TEVA | Teva Pharmaceutical Industries Limited | NYSE | Israel | $47.60B |
| 15 | WCN | Waste Connections, Inc. | NYSE | Canada | $42.72B |
| 16 | CLS | Celestica Inc. | NYSE | Canada | $37.79B |
| 17 | CCL | Carnival Corporation & plc | NYSE | United States | $36.39B |
| 18 | FLEX | Flex Ltd. | Nasdaq | United States | $32.32B |
| 19 | CRDO | Credo Technology Group Holding Ltd | Nasdaq | Cayman Islands | $32.24B |
| 20 | WTW | Willis Towers Watson Public Limited Company | Nasdaq | United Kingdom | $29.60B |
| 21 | SN | SharkNinja, Inc. | NYSE | United States | $28.12B |
| 22 | RPRX | Royalty Pharma plc | Nasdaq | United States | $27.72B |
| 23 | FTI | TechnipFMC plc | NYSE | United Kingdom | $27.03B |
| 24 | QSR | Restaurant Brands International Inc. | NYSE | United States | $26.20B |
| 25 | ROIV | Roivant Sciences Ltd. | Nasdaq | United Kingdom | $25.22B |
A company incorporated abroad loses foreign private issuer status when most of its shares are held in the United States and it is largely run from, or has most of its assets in, the United States. It then reports like any US company, and index providers generally treat it as one. Market measures that apply a US-company test usually include these companies and exclude the foreign private issuers above.
Method
- Universe: every security listed on NYSE, Nasdaq or NYSE American with a reported market capitalization, one line per company. See the Clay Total Market Index and its methodology.
- Foreign private issuer: a constituent whose most recent SEC annual report is a Form 20-F or 40-F (or, with no annual report yet, whose periodic reports are on Form 6-K), matched to EDGAR by ticker.
- US domestic filer incorporated abroad: a constituent whose most recent annual report is a Form 10-K and whose EDGAR state-of-incorporation code is not a US state or territory.
- Country: the headquarters country reported by the data vendor, shown where available. It is not the country of incorporation.
- Market capitalization: company-level, in US dollars, as reported by the data vendor at the close. Not float-adjusted.
- Dates: each archive file is dated the day after the close it holds. Dates on this page are close dates.