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.
The loss is shared across much of the industry.
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 |
|---|---|---|---|---|---|
| Semiconductors Gained weight for 2 consecutive months | 15.34% | +4.26 pp | Reversing downward | Concentrated | |
| Application Software Lost weight for 1 consecutive month | 2.45% | -1.03 pp | Declining faster | Broad | |
| Managed Health Care Lost weight for 1 consecutive month | 0.73% | -0.73 pp | Reversing downward | Concentrated | |
| Broadline Retail Gained weight for 1 consecutive month | 4.97% | -0.66 pp | Declining faster | Concentrated | |
| Semiconductor Materials & Equipment Gained weight for 5 consecutive months | 1.19% | +0.57 pp | Accelerating | Concentrated | |
| Movies & Entertainment Gained weight for 2 consecutive months | 1.15% | +0.53 pp | Reversing upward | Concentrated | |
| Systems Software Lost weight for 6 consecutive months | 6.78% | -0.52 pp | Declining faster | Concentrated | |
| Aerospace & Defense Gained weight for 2 consecutive months | 2.70% | +0.50 pp | Reversing upward | Broad | |
| Transaction & Payment Processing Services Lost weight for 1 consecutive month | 0.73% | -0.50 pp | Slowing | Concentrated | |
| Health Care Equipment Lost weight for 2 consecutive months | 2.13% | -0.49 pp | Slowing | Broad |
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.