TSP S Fund: what's actually inside it
Officially the Small Capitalization Stock Index Investment Fund. US companies outside the S&P 500: small and mid-cap. Tracks the Dow Jones U.S. Completion Total Stock Market index.
3,307 holdings · expense ratio 0.051% · top 10 = 8.8% · concentration score 0/100 · holdings as of 2026-07-31
Top 25 holdings
| # | Holding | Weight | |
|---|---|---|---|
| 1 | CASH | 2.46% | |
| 2 | SNOW | 1.22% | |
| 3 | NET | 1.07% | |
| 4 | SPCX | 0.77% | |
| 5 | LNG | 0.66% | |
| 6 | BE | 0.65% | |
| 7 | FERG | 0.55% | |
| 8 | ALAB | 0.50% | |
| 9 | NTRA | 0.46% | |
| 10 | RVMD | 0.45% | |
| 11 | CRDO | 0.40% | |
| 12 | RKLB | 0.40% | |
| 13 | ILMN | 0.37% | |
| 14 | MSTR | 0.37% | |
| 15 | TWLO | 0.36% | |
| 16 | SUNB | 0.35% | |
| 17 | FTI | 0.34% | |
| 18 | LPLA | 0.34% | |
| 19 | ALNY | 0.33% | |
| 20 | MDB | 0.33% | |
| 21 | CW | 0.32% | |
| 22 | CRS | 0.31% | |
| 23 | ATI | 0.31% | |
| 24 | ZM | 0.31% | |
| 25 | AMRZ | 0.30% |
Sector split
Overlap with the other TSP funds
The question a federal employee can actually act on: holding two of these, how much is the same underlying company?
| Paired with | Overlap | Effective Funds (50/50) |
|---|---|---|
| TSP I Fund | 4.6% | 2.0 |
| TSP F Fund | 2.5% | 2.0 |
| TSP C Fund | 0.0% | 2.0 |
What has changed
We started recording TSP S Fund's headline figures in July 2026. There is only one month on record so far, so there is nothing to compare it against yet — check back next month.
Frequently asked
What does the TSP S Fund actually hold?
The S Fund — officially the Small Capitalization Stock Index Investment Fund — tracks the Dow Jones U.S. Completion Total Stock Market index. The Thrift Savings Plan does not publish a holdings list and does not file SEC form N-PORT, so this page shows the 3,307 positions of VXF, which tracks the same index, as of 2026-07-31. The largest position is CASH at 2.5%, and the top ten are 8.8% of the fund.
Is this the TSP's real holdings data?
No, and that distinction matters. It is a labelled proxy: a different fund tracking the same index, not the S Fund itself. VXF tracks the US market excluding the S&P 500 — the same completion mandate — and is the closest covered equivalent. Index funds tracking the same benchmark hold nearly identical portfolios, so the picture is close — but the weights are VXF's, not the TSP's, and the TSP has never published its own.
How much do the TSP funds overlap each other?
The S Fund overlaps the I Fund 4.6% by weight — I Fund 4.6%, F Fund 2.5%, C Fund 0.0%. Overlap is the sum of the smaller weight in each fund over every holding both own, computed from the proxy holdings described above.
Why isn't the G Fund shown?
The G Fund — officially the Government Securities Investment Fund — is deliberately absent. It holds non-marketable US Treasury securities issued only to the TSP, which are not traded anywhere and have no market equivalent. Showing it through a bond fund would misrepresent an instrument whose defining feature is that its principal cannot fall.
Most federal employees hold more than the TSP
A TSP account is rarely the whole picture — there is often an IRA, a spouse's 401(k), or a brokerage account alongside it. Paste them all together to see the real overlap between your S Fund and everything else you own, and your own Effective Funds number. Free, no account, nothing stored.
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How it overlaps the other TSP funds
TSP S Fund shown via VXF, holdings as of 2026-07-31. The TSP publishes no holdings of its own. Weights are fractions of the fund. Diagnostics, not advice.