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 Technology18.4%+8.88 pp Financials16.5%+7.33 pp Health Care17.0%+6.61 pp Industrials13.2%+6.00 pp Consumer Staples8.7%+3.60 pp Communication Services5.3%+3.24 pp Materials3.2%+1.83 pp Utilities3.7%+1.55 pp Real Estate3.5%+1.53 pp Energy3.5%+1.16 pp Consumer Discretionary7.0%-41.73 pp

2 · Industry

Inside Information Technology

Systems Software6.05%+3.21 pp Semiconductors3.36%+1.60 pp Application Software3.06%+1.33 pp Technology Hardware, Storage & Peripherals2.06%+1.09 pp IT Consulting & Other Services1.45%+0.60 pp Communications Equipment1.18%+0.38 pp Electronic Equipment & Instruments0.34%+0.20 pp Semiconductor Materials & Equipment0.31%+0.18 pp Technology Distributors0.10%+0.10 pp Internet Services & Infrastructure0.18%+0.08 pp Electronic Manufacturing Services0.16%+0.06 pp Electronic Components0.13%+0.03 pp

3 · Sub-industry

Inside Application Software

Application Software3.06%+1.335 pp

Concentrated

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

View all contributions →

Application Software · weight

3.06%

Industry change · 12M

+1.33 pp

Application Software · contribution

+1.335 pp

Company participation

43%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Dec 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
Adobe Inc. → ADBE	United States	$159.7bn	0.783%	+0.073 pp	+0.388 pp	+45.8%	Yes
Salesforce → CRM	United States	$144.3bn	0.708%	+0.016 pp	+0.333 pp	+18.7%	Yes
Oracle Corporation → ORCL	United States	$169.9bn	0.834%	-0.127 pp	+0.254 pp	+19.3%	No
Intuit → INTU	United States	$68.2bn	0.334%	-0.033 pp	+0.152 pp	+34.1%	No
Autodesk → ADSK	United States	$40.4bn	0.198%	+0.026 pp	+0.097 pp	+42.6%	Yes
Synopsys → SNPS	United States	$21.0bn	0.103%	-0.007 pp	+0.058 pp	+65.2%	No
Cadence Design Systems → CDNS	United States	$19.5bn	0.095%	-0.003 pp	+0.052 pp	+59.5%	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.