October Broadening Challenges Mega-Cap Concentration, but Durability Is Unclear

October analysis reports the equal-weight S&P 500 rose 5.0% while the cap-weighted index fell 0.9%, but the top 10 stocks still represented 37.3% of the index. The reported 21% year-to-date return for RPV lacks enough context to establish durable rotation; UBS’s 8,900 target is a forecast, and claims Jensen Huang resigned remain unverified.