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 Technology27.2%+8.81 pp Consumer Discretionary7.5%+0.48 pp Materials3.1%-0.14 pp Communication Services5.1%-0.22 pp Real Estate2.9%-0.60 pp Utilities2.9%-0.78 pp Health Care16.1%-0.85 pp Consumer Staples7.8%-0.86 pp Industrials12.1%-1.12 pp Energy1.9%-1.68 pp Financials13.4%-3.05 pp

2 · Industry

Inside Information Technology

Technology Hardware, Storage & Peripherals9.50%+7.43 pp Systems Software6.96%+0.91 pp Application Software3.63%+0.57 pp Communications Equipment0.93%-0.25 pp Semiconductor Materials & Equipment0.44%+0.13 pp IT Consulting & Other Services1.34%-0.11 pp Electronic Equipment & Instruments0.42%+0.08 pp Semiconductors3.42%+0.06 pp Technology Distributors0.08%-0.02 pp Internet Services & Infrastructure0.17%-0.01 pp Electronic Manufacturing Services0.16%+0.00 pp Electronic Components0.13%+0.00 pp

3 · Sub-industry

Inside Application Software

Application Software3.63%+0.572 pp

Broad

The gain is shared across much of the industry.

View all contributions →

Application Software · weight

3.63%

Industry change · 12M

+0.57 pp

Application Software · contribution

+0.572 pp

Company participation

100%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Dec 2020 · 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	$239.9bn	0.971%	+0.970 pp	+0.188 pp	+51.6%	Yes
Salesforce → CRM	United States	$203.6bn	0.824%	+0.823 pp	+0.116 pp	+36.8%	Yes
Autodesk → ADSK	United States	$67.1bn	0.272%	+0.271 pp	+0.074 pp	+66.4%	Yes
Tyler Technologies → TYL	United States	$17.6bn	0.071%	+0.071 pp	+0.071 pp	+45.5%	Yes
Intuit → INTU	United States	$99.8bn	0.404%	+0.404 pp	+0.069 pp	+46.1%	Yes
Oracle Corporation → ORCL	United States	$190.4bn	0.771%	+0.770 pp	-0.063 pp	+24.3%	Yes
Cadence Design Systems → CDNS	United States	$38.1bn	0.154%	+0.154 pp	+0.059 pp	+96.7%	Yes
Synopsys → SNPS	United States	$39.7bn	0.161%	+0.160 pp	+0.058 pp	+86.2%	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.