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 Technology17.9%+7.83 pp Financials16.1%+6.61 pp Health Care16.1%+6.02 pp Industrials13.5%+5.47 pp Consumer Staples9.2%+4.37 pp Communication Services5.3%+3.38 pp Materials3.3%+2.18 pp Utilities4.0%+2.09 pp Real Estate3.9%+2.04 pp Energy3.6%+0.96 pp Consumer Discretionary7.1%-40.93 pp

2 · Industry

Inside Industrials

Aerospace & Defense5.30%+2.00 pp Industrial Conglomerates1.41%+0.71 pp Industrial Machinery & Supplies & Components0.97%+0.40 pp Rail Transportation0.96%+0.34 pp Construction Machinery & Heavy Transportation Equipment0.67%+0.26 pp Environmental & Facilities Services0.45%+0.25 pp Human Resource & Employment Services0.53%+0.24 pp Air Freight & Logistics0.75%+0.23 pp Electrical Components & Equipment0.62%+0.21 pp Building Products0.44%+0.20 pp Passenger Airlines0.47%+0.16 pp Agricultural & Farm Machinery0.28%+0.13 pp Research & Consulting Services0.23%+0.11 pp Diversified Support Services0.13%+0.10 pp Trading Companies & Distributors0.10%+0.04 pp Construction & Engineering0.08%+0.04 pp Data Processing & Outsourced Services0.08%+0.03 pp Cargo Ground Transportation0.06%+0.02 pp Heavy Electrical Equipment0.00%+0.00 pp Passenger Ground Transportation0.00%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.47%+0.155 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.47%

Industry change · 12M

+0.16 pp

Passenger Airlines · contribution

+0.155 pp

Company participation

33%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Sep 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
Delta Air Lines → DAL	United States	$37.5bn	0.199%	-0.001 pp	+0.072 pp	+2.2%	No
United Airlines Holdings → UAL	United States	$22.7bn	0.121%	-0.004 pp	+0.043 pp	-0.7%	No
Southwest Airlines → LUV	United States	$29.0bn	0.154%	+0.006 pp	+0.040 pp	-12.4%	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.