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 |
|---|---|---|---|---|---|
| Paper & Plastic Packaging Products & Materials Lost weight for 5 consecutive months | 0.31% | -32.06 pp | Reversing downward | Concentrated | |
| Semiconductors Gained weight for 4 consecutive months | 14.40% | +11.56 pp | Reversing upward | Concentrated | |
| Systems Software Gained weight for 4 consecutive months | 8.95% | +3.11 pp | Accelerating | Concentrated | |
| Broadline Retail Gained weight for 3 consecutive months | 5.33% | +1.79 pp | Reversing upward | Concentrated | |
| Application Software Gained weight for 4 consecutive months | 3.69% | +1.23 pp | Reversing upward | Concentrated | |
| Diversified Banks Lost weight for 1 consecutive month | 3.82% | +1.21 pp | Reversing upward | Concentrated | |
| Aerospace & Defense Gained weight for 1 consecutive month | 2.59% | +0.90 pp | Slowing | Broad | |
| Consumer Staples Merchandise Retail Lost weight for 3 consecutive months | 2.72% | +0.87 pp | Reversing downward | Concentrated | |
| Asset Management & Custody Banks Gained weight for 2 consecutive months | 1.55% | +0.85 pp | Reversing upward | Concentrated | |
| Automobile Manufacturers Lost weight for 2 consecutive months | 2.29% | +0.80 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.