Episode 50: What does owning the S&P500 actually mean in 2026?

Our host Emily Barlow (Evidentia Group) is joined by Amit Pathak (S&P) to discuss: 

• S&P 500's cap-weighting naturally tilts toward AI leaders, but that exposure shifts as market leadership changes over time.
• Top 10 holdings now make up ~40% of the index, up from 18% a decade ago — still less concentrated than the Nasdaq 100 or ASX 200.
• Passive investing has crossed 50% of fund assets, but active investors still drive price discovery, not passive flows.
• More companies are staying private longer, yet the S&P 500 still captures the largest, most liquid slice of the U.S. market.
• Index providers prioritize rules-based methodology over predicting winners or chasing private giants like SpaceX.