The S&P 500 (SNPINDEX: ^GSPC) experienced a decline of 7.1% during the first 100 days of the second Trump administration. The more volatile Nasdaq Composite (NASDAQINDEX: ^IXIC) index faced an even steeper drop of 11.1%. This downturn is notable in the context of new American administrations, as such periods are closely monitored by market analysts.

However, not every stock struggled; 161 of the 502 companies in the S&P 500 recorded positive returns during this volatile time. This article examines some of the largest gains within the first 100 days. Were these stocks propelled by Trump’s policies, or were they already on a positive trajectory?

Top Performers in the S&P 500

Here are the five stocks that showed the biggest price gains in the S&P 500 during the Trump administration’s early months:

S&P 500 Stock	100-day Price Gain	1-year Total Return	Market Cap on May 1, 2025
Palantir Technologies (NASDAQ: PLTR)	65%	428.9%	$274.1 billion
Philip Morris International (NYSE: PM)	40.9%	87.2%	$264.7 billion
Dollar General (NYSE: DG)	36.9%	(33.3%)	$19.9 billion
VeriSign (NASDAQ: VRSN)	34.5%	65%	$26.3 billion
Netflix (NASDAQ: NFLX)	31.9%	105.8%	$482.4 billion

Data collected from Finviz.com and YCharts on 5/1/2025.

Analysis of Recent Market Winners

These top performers generally continued their positive long-term trends. Let’s explore three notable companies: Palantir, Dollar General, and Netflix.

Palantir’s Wild Ride

Palantir Technologies has shown significant growth, boasting over a fivefold return in the last year. Despite this success, the stock saw a 7% decline from its February peak, influenced by certain Trump administration policies affecting defense spending, a critical area for Palantir.

Despite facing challenges, Palantir continues to perform well with a market cap of $274 billion. The company reported a 36% year-over-year increase in fourth-quarter revenues and improved free cash flow margins. Investors will look to the upcoming Q1 report for insights on how current policies may impact future performance.

Netflix’s Binge-Worthy Business Results

In contrast, Netflix’s gains appear to be less influenced by government actions. The company posted strong earnings reports in January and April, leading to new stock price records. While the stock currently trades at a premium—54 times trailing earnings—Netflix has demonstrated solid growth and profit margins that justify this valuation.

Despite the high valuation ratios, the company remains resilient to political shifts, which is a positive sign for current shareholders.

Dollar General’s Optimistic Rebound

Dollar General serves as an interesting case. Initially struggling with a negative total return of 47% over the previous year, the company started to regain strength, posting a 4.5% revenue increase in its fourth quarter. Their long-term growth strategy, focusing on steady store openings, positions them well amid rising economic concerns.

The current economic climate favors discount retailers as consumer confidence dips. This trend may provide Dollar General with sustained momentum as it adapts to changing market conditions.

Regardless of political leadership, concentrating on fundamentals is essential for investment success. Market fluctuations can alter conditions, but sound business analysis remains key for wealth building. Investors might consider options like the Vanguard S&P 500 ETF for balanced index exposure.