Where is market allocation moving?
See what is gaining weight, how quickly it is changing, and what is driving the move.
Gaining market weight
Largest sector gains · last 12 months
Losing market weight
Largest sector declines · last 12 months
The pace is changing
Latest 3 months versus the previous 3 months
What is driving the change?
12-month company attribution · a rising industry does not mean every company is gaining
Most of this industry's gains came from a few companies.
Most of this industry's losses came from a few companies.
Most of this industry's gains came from a few companies.
Industry movements at a glance
Largest absolute allocation changes · descriptive observations, not rankings of investment merit
| Industry | Market weight | 12M change | Movement | Participation | Weight history · 24M |
|---|---|---|---|---|---|
| Technology Hardware, Storage & Peripherals Lost weight for 4 consecutive months | 7.61% | -1.58 pp | Declining faster | Concentrated | |
| Broadline Retail Lost weight for 1 consecutive month | 5.27% | +1.58 pp | Accelerating | Concentrated | |
| Systems Software Lost weight for 1 consecutive month | 9.07% | +1.47 pp | Slowing | Concentrated | |
| Consumer Staples Merchandise Retail Gained weight for 4 consecutive months | 2.65% | +0.92 pp | Accelerating | Concentrated | |
| Automobile Manufacturers Lost weight for 1 consecutive month | 1.84% | -0.74 pp | Declining faster | Concentrated | |
| Semiconductors Gained weight for 5 consecutive months | 4.31% | +0.69 pp | Slowing | Concentrated | |
| Diversified Banks Gained weight for 1 consecutive month | 3.85% | +0.45 pp | Slowing | Concentrated | |
| Application Software Lost weight for 2 consecutive months | 3.77% | +0.45 pp | Reversing downward | Broad | |
| Passenger Ground Transportation Lost weight for 1 consecutive month | 0.44% | +0.44 pp | Slowing | Concentrated | |
| Soft Drinks & Non-alcoholic Beverages Gained weight for 1 consecutive month | 1.60% | -0.39 pp | Slowing | Concentrated |
How are these descriptive states defined?
Gaining / losing: 12-month weight change above +0.005pp / below −0.005pp. Direction and speed are separate dimensions, not mutually exclusive recommendations.
Accelerating / slowing: compare the most recent 3M change with the preceding 3M change. Accelerating means a positive change speeds up by >0.02pp. Slowing means the magnitude of movement declines by >0.02pp. A falling industry can also slow.
Reversing: the last two 3M changes have opposite signs, outside a ±0.005pp tolerance. Persistence counts consecutive same-direction monthly changes.
Broad / concentrated: company attribution, not a market-cap concentration shortcut. Concentrated means the three largest same-direction contributors account for ≥70% of gross same-direction changes; otherwise broad requires ≥60% of constituents moving with the industry. Other cases are mixed.
Weights use matched S&P 500 members with SEC-reported shares and monthly prices. Companies without both data series are omitted; weights are normalised across matched members each month. These are simple market-cap estimates, not official float-adjusted S&P weights or measured investor flows.