Ten years ago, there were roughly 30 companies in the US equity market that had a market capitalization greater than $100 billion. At that time, most generalist portfolio managers had formed investment views of these companies, had seen the management teams present or met them over the years, and had a pretty good command of the investment debates for nearly all of these companies. However, today there are 93 companies that have greater than 100b market capitalization – double the number of companies that reached this exclusive barrier three years ago. These names account for roughly 60% of the total market cap. of the SP500. For equity investors whose performance is directly (or even indirectly) benchmarked to the SP500, it has never been more important to be able to generate performance from this exclusive club.