According to The Kobeissi Letter, the Magnificent 7 are up 27% year-to-date and on track for a third consecutive annual gain after rallies of 107% in 2023 and 67% in 2024 (source: The Kobeissi Letter). The Kobeissi Letter reports the group is up 338% since the start of 2023 and accounted for 45% of the S&P 500’s 18% total return this year (source: The Kobeissi Letter). Based on The Kobeissi Letter’s data that the cohort’s market cap is $21 trillion, or 34% of the index, a 1% move in the group would mechanically contribute about 0.34% to the headline index, all else equal (source: The Kobeissi Letter). For crypto positioning, The Kobeissi Letter’s figures highlight extreme U.S. equity leadership that traders can use as macro risk context when assessing BTC and ETH exposure (source: The Kobeissi Letter).