Scope: US-Listed vs US Domestic Filers
The Clay Total Market Index includes every company listed on a US exchange, including companies incorporated and headquartered outside the United States. Company-level market capitalization is used for all of them. The table below splits the total by SEC filer status.
| Group | Companies | Market cap | Share of total |
|---|---|---|---|
| US domestic filers (annual report on Form 10-K) | 4,416 | $82.85T | 83.3% |
| Foreign private issuers (annual report on Form 20-F or 40-F) | 1,140 | $16.52T | 16.6% |
| Not classified (no SEC match or no periodic report on file) | 62 | $46.79B | 0.0% |
| Total, US-listed | 5,618 | $99.42T | 100.0% |
Filer status from SEC EDGAR submissions data, retrieved 2026-09-26 for the constituents of the 2026-09-26 file; figures above use September 29, 2026 market caps. Of the US domestic filers, 479 ($2.38T of market cap) carry a non-US state-of-incorporation code in EDGAR and 350 ($5.31T) have no incorporation code. CRSP/Morningstar, S&P and FTSE Russell each apply their own US-company test, so their totals are not directly comparable to either row. Methodology.
Daily History
Change since the July 10, 2026 close: −0.33 trillion (−0.33%), from $99.75 trillion to $99.42 trillion.
The series starts at the July 10, 2026 close (file 2026-07-11), the first archive file that includes US-listed foreign issuers. Earlier files excluded them and are not comparable; see the methodology correction note. Each file is dated the day after the close it holds. The series also contains a second methodology break: from the file dated September 27, 2026, non-common securities such as preferred shares and baby bonds are excluded, which lowered the total by about 1.7% on that day. Earlier points have not been restated.
Last 10 closes
| Close | Companies | Total market cap |
|---|---|---|
| September 29, 2026 | 5,618 | $99.42T |
| September 28, 2026 | 5,615 | $99.47T |
| September 25, 2026 | 5,884 | $102.08T |
| September 24, 2026 | 5,883 | $101.62T |
| September 23, 2026 | 5,881 | $101.75T |
| September 22, 2026 | 5,878 | $102.78T |
| September 21, 2026 | 5,876 | $102.62T |
| September 18, 2026 | 5,876 | $101.27T |
| September 17, 2026 | 5,858 | $101.26T |
| September 16, 2026 | 5,858 | $100.02T |
Total by Sector
| Sector | Companies | Market cap | Share of total |
|---|---|---|---|
| Technology | 813 | $35.43T | 35.6% |
| Financial Services | 1,138 | $13.48T | 13.6% |
| Healthcare | 1,053 | $9.25T | 9.3% |
| Industrials | 727 | $9.14T | 9.2% |
| Consumer Cyclical | 507 | $8.44T | 8.5% |
| Communication Services | 220 | $8.20T | 8.3% |
| Energy | 262 | $4.73T | 4.8% |
| Consumer Defensive | 230 | $4.35T | 4.4% |
| Basic Materials | 311 | $3.10T | 3.1% |
| Real Estate | 249 | $1.65T | 1.7% |
| Utilities | 108 | $1.65T | 1.7% |
Total by Exchange
| Exchange | Companies | Market cap | Share of total |
|---|---|---|---|
| Nasdaq | 3,461 | $51.40T | 51.7% |
| NYSE | 1,915 | $47.86T | 48.1% |
| NYSE American | 242 | $153.48B | 0.2% |
Share Held by the Largest Companies
| Group | Market cap | Share of total |
|---|---|---|
| Top 10 companies | $30.17T | 30.3% |
| Top 100 companies | $61.18T | 61.5% |
| Top 500 companies | $86.24T | 86.7% |
| All 5,618 companies | $99.42T | 100.0% |
All tables: September 29, 2026 close. Sectors as classified by the data vendor (Financial Modeling Prep). Source: clay-total-market-index-latest.json, generated 2026-09-30T00:30:10.481Z.
Method
- Universe: every security listed on NYSE, Nasdaq or NYSE American with a reported market capitalization, one line per company (the share class with the highest trading volume). See the Clay Total Market Index and its methodology.
- Market capitalization: company-level, as reported by the data vendor at the close. Not float-adjusted.
- Total: sum of company market capitalizations. Published indices that apply float adjustment and a US-company test report lower totals; see S&P TMI and CRSP US Total Market.
- Dates: each archive file is dated the day after the close it holds. Dates on this page are close dates.
- Data: latest JSON; dated JSON and CSV files at
/data/clay-total-market-index-YYYY-MM-DD.jsonand.csv.