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

Information Technology17.9%+7.76 pp Health Care16.6%+6.64 pp Financials15.9%+6.02 pp Industrials13.4%+5.24 pp Consumer Staples9.3%+4.44 pp Communication Services5.4%+3.44 pp Real Estate4.0%+2.04 pp Utilities3.9%+2.00 pp Materials2.9%+1.73 pp Energy3.6%+0.89 pp Consumer Discretionary7.2%-40.20 pp

2 · Industry

Inside Information Technology

Systems Software5.82%+3.00 pp Application Software3.24%+1.44 pp Semiconductors3.16%+1.24 pp IT Consulting & Other Services1.56%+0.61 pp Technology Hardware, Storage & Peripherals1.73%+0.47 pp Communications Equipment1.30%+0.47 pp Electronic Equipment & Instruments0.31%+0.21 pp Semiconductor Materials & Equipment0.27%+0.12 pp Internet Services & Infrastructure0.21%+0.11 pp Electronic Manufacturing Services0.17%+0.06 pp Electronic Components0.14%+0.04 pp Technology Distributors0.00%+0.00 pp

3 · Sub-industry

Inside Application Software

Application Software3.24%+1.441 pp

Concentrated

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

View all contributions →

Application Software · weight

3.24%

Industry change · 12M

+1.44 pp

Application Software · contribution

+1.441 pp

Company participation

43%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Aug 2019 · 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
Salesforce → CRM	United States	$136.9bn	0.744%	+0.065 pp	+0.371 pp	+2.2%	Yes
Adobe Inc. → ADBE	United States	$138.1bn	0.751%	-0.019 pp	+0.335 pp	+8.0%	No
Oracle Corporation → ORCL	United States	$173.7bn	0.944%	-0.063 pp	+0.320 pp	+8.9%	No
Intuit → INTU	United States	$75.0bn	0.408%	+0.038 pp	+0.225 pp	+32.4%	Yes
Synopsys → SNPS	United States	$21.3bn	0.116%	+0.014 pp	+0.067 pp	+38.8%	Yes
Autodesk → ADSK	United States	$31.4bn	0.171%	-0.035 pp	+0.062 pp	-7.5%	No
Cadence Design Systems → CDNS	United States	$19.2bn	0.104%	+0.000 pp	+0.061 pp	+45.6%	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.