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›Information Technology›Application Software›Application Software

1 · Sector

Weight and 12M allocation change

Consumer Discretionary48.1%+41.00 pp Materials1.1%-1.04 pp Utilities1.9%-1.28 pp Real Estate1.8%-1.40 pp Communication Services1.9%-1.53 pp Energy2.7%-2.04 pp Consumer Staples4.8%-4.56 pp Information Technology10.0%-6.01 pp Health Care10.1%-6.67 pp Industrials8.1%-7.53 pp Financials9.5%-8.94 pp

2 · Industry

Inside Information Technology

Systems Software2.84%-1.43 pp Semiconductors1.86%-1.36 pp Application Software1.81%-0.98 pp IT Consulting & Other Services0.95%-0.79 pp Communications Equipment0.82%-0.50 pp Technology Hardware, Storage & Peripherals1.23%-0.46 pp Semiconductor Materials & Equipment0.13%-0.22 pp Electronic Manufacturing Services0.10%-0.11 pp Electronic Components0.10%-0.07 pp Electronic Equipment & Instruments0.10%-0.07 pp Internet Services & Infrastructure0.10%-0.03 pp Technology Distributors0.00%+0.00 pp

3 · Sub-industry

Inside Application Software

Application Software1.81%-0.979 pp

Concentrated

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

View all contributions →

Application Software · weight

1.81%

Industry change · 12M

-0.98 pp

Application Software · contribution

-0.979 pp

Company participation

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Sep 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
Oracle Corporation → ORCL	United States	$195.3bn	0.622%	-0.442 pp	-0.596 pp	+0.7%	No
Adobe Inc. → ADBE	United States	$131.8bn	0.420%	-0.304 pp	-0.140 pp	+35.1%	No
Salesforce → CRM	United States	$120.3bn	0.383%	-0.224 pp	-0.086 pp	+39.6%	No
Intuit → INTU	United States	$58.8bn	0.187%	-0.131 pp	-0.057 pp	+36.0%	No
Autodesk → ADSK	United States	$34.1bn	0.109%	-0.066 pp	-0.037 pp	+35.0%	No
Synopsys → SNPS	United States	$14.7bn	0.047%	-0.031 pp	-0.032 pp	+6.5%	No
Cadence Design Systems → CDNS	United States	$12.8bn	0.041%	-0.033 pp	-0.031 pp	+1.0%	No

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.