Observatory · observe first

Follow the allocation change

Matched S&P 500 members → sector → industry → sub-industry → company. Each step uses the same percentage points.

Historical time machine

Historical observation

20182026

Universe›Industrials›Passenger Airlines›Passenger Airlines

1 · Sector

Weight and 12M allocation change

Information Technology17.4%+1.34 pp Energy5.1%+0.43 pp Real Estate3.5%+0.28 pp Utilities3.4%+0.26 pp Health Care16.9%+0.12 pp Consumer Discretionary7.0%-0.03 pp Materials2.1%-0.04 pp Communication Services3.3%-0.15 pp Consumer Staples8.8%-0.60 pp Financials17.7%-0.75 pp Industrials14.7%-0.86 pp

2 · Industry

Inside Industrials

Aerospace & Defense6.55%-0.53 pp Industrial Conglomerates1.21%-0.16 pp Construction Machinery & Heavy Transportation Equipment0.71%-0.12 pp Rail Transportation1.03%+0.09 pp Industrial Machinery & Supplies & Components0.99%-0.09 pp Data Processing & Outsourced Services0.08%+0.08 pp Air Freight & Logistics0.90%-0.08 pp Human Resource & Employment Services0.51%+0.05 pp Passenger Airlines0.51%-0.04 pp Building Products0.43%-0.03 pp Agricultural & Farm Machinery0.28%-0.03 pp Electrical Components & Equipment0.69%-0.03 pp Research & Consulting Services0.20%+0.02 pp Trading Companies & Distributors0.10%-0.01 pp Cargo Ground Transportation0.08%+0.01 pp Diversified Support Services0.03%+0.00 pp Construction & Engineering0.07%+0.00 pp Environmental & Facilities Services0.35%-0.00 pp Heavy Electrical Equipment0.00%+0.00 pp Passenger Ground Transportation0.00%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.51%-0.044 pp

Concentrated

Most of this industry's losses came from a few companies.

View all contributions →

Passenger Airlines · weight

0.51%

Industry change · 12M

-0.04 pp

Passenger Airlines · contribution

-0.044 pp

Company participation

33%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Jun 2018 · sorted by absolute contribution to 12-month change

Company	Country	Market cap	Universe weight	3M contribution	12M contribution	12M price return	Above 6M weight average
Southwest Airlines → LUV	United States	$29.5bn	0.179%	-0.028 pp	-0.027 pp	-15.9%	No
Delta Air Lines → DAL	United States	$34.8bn	0.211%	-0.027 pp	-0.020 pp	-11.7%	No
United Airlines Holdings → UAL	United States	$19.3bn	0.117%	-0.004 pp	+0.003 pp	+2.8%	Yes

Company contributions use weights among matched S&P 500 members and add through each level without rescaling. Companies without matched shares and prices are omitted. These observations do not establish official index weights or actual fund flows.