S&P 500 companies continue to hoard cash, boosting balance sheet liquidity. This study compares liquidity levels at Financials and Nonfinancials. Cash and short-term investment balances hover at ten-year highs for S&P 500 Financials and Nonfinancials. Financing patterns reveal that Nonfinancials are more liberal as far as shareholder distributions. Ranking S&P 500 companies by balance sheet liquidity reveals that shares of companies with high- and medium-liquidity had greater price swings during volatile economic periods, but they also lead recovery phases, potentially generating higher returns for investors.