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 Technology18.1%+8.41 pp Financials16.5%+6.93 pp Health Care16.8%+6.27 pp Industrials13.7%+6.24 pp Consumer Staples8.8%+3.60 pp Communication Services5.3%+3.22 pp Materials3.2%+1.80 pp Utilities3.7%+1.59 pp Real Estate3.6%+1.58 pp Energy3.4%+1.00 pp Consumer Discretionary7.0%-40.65 pp

2 · Industry

Inside Information Technology

Systems Software5.97%+3.08 pp Semiconductors3.23%+1.49 pp Application Software3.15%+1.39 pp Technology Hardware, Storage & Peripherals1.96%+0.93 pp IT Consulting & Other Services1.47%+0.58 pp Communications Equipment1.16%+0.34 pp Semiconductor Materials & Equipment0.30%+0.17 pp Electronic Equipment & Instruments0.29%+0.15 pp Technology Distributors0.10%+0.10 pp Internet Services & Infrastructure0.18%+0.08 pp Electronic Manufacturing Services0.16%+0.07 pp Electronic Components0.13%+0.04 pp

3 · Sub-industry

Inside Application Software

Application Software3.15%+1.389 pp

Concentrated

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

View all contributions →

Application Software · weight

3.15%

Industry change · 12M

+1.39 pp

Application Software · contribution

+1.389 pp

Company participation

43%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Nov 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	$142.9bn	0.720%	-0.025 pp	+0.357 pp	+14.1%	Yes
Adobe Inc. → ADBE	United States	$149.8bn	0.755%	+0.004 pp	+0.348 pp	+23.4%	Yes
Oracle Corporation → ORCL	United States	$184.6bn	0.930%	-0.014 pp	+0.316 pp	+17.1%	No
Intuit → INTU	United States	$67.4bn	0.339%	-0.068 pp	+0.155 pp	+21.6%	No
Autodesk → ADSK	United States	$39.7bn	0.200%	+0.030 pp	+0.095 pp	+25.2%	Yes
Synopsys → SNPS	United States	$21.2bn	0.107%	-0.009 pp	+0.061 pp	+53.4%	No
Cadence Design Systems → CDNS	United States	$19.7bn	0.099%	-0.005 pp	+0.057 pp	+56.0%	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.