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

Materials29.6%+26.36 pp Consumer Discretionary9.0%+2.52 pp Energy2.3%-1.14 pp Real Estate2.1%-1.36 pp Utilities2.2%-1.54 pp Communication Services2.1%-1.79 pp Industrials7.2%-2.86 pp Consumer Staples5.1%-3.17 pp Financials7.8%-4.56 pp Information Technology21.1%-5.55 pp Health Care11.5%-6.91 pp

2 · Industry

Inside Industrials

Aerospace & Defense1.74%-0.70 pp Rail Transportation0.57%-0.41 pp Air Freight & Logistics0.48%-0.32 pp Industrial Conglomerates0.52%-0.31 pp Human Resource & Employment Services0.30%-0.20 pp Industrial Machinery & Supplies & Components0.83%-0.19 pp Environmental & Facilities Services0.32%-0.15 pp Electrical Components & Equipment0.48%-0.09 pp Building Products0.37%-0.09 pp Construction Machinery & Heavy Transportation Equipment0.52%-0.09 pp Agricultural & Farm Machinery0.27%-0.08 pp Research & Consulting Services0.14%-0.05 pp Passenger Airlines0.16%-0.04 pp Heavy Electrical Equipment0.02%-0.03 pp Cargo Ground Transportation0.09%-0.03 pp Construction & Engineering0.09%-0.03 pp Data Processing & Outsourced Services0.05%-0.02 pp Trading Companies & Distributors0.11%-0.01 pp Diversified Support Services0.11%-0.01 pp Passenger Ground Transportation0.00%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.16%-0.038 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.16%

Industry change · 12M

-0.04 pp

Passenger Airlines · contribution

-0.038 pp

Company participation

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Jun 2023 · 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
Southwest Airlines → LUV	United States	$21.5bn	0.050%	-0.016 pp	-0.033 pp	+1.8%	No
United Airlines Holdings → UAL	United States	$18.0bn	0.042%	-0.008 pp	-0.003 pp	+54.9%	No
Delta Air Lines → DAL	United States	$30.6bn	0.071%	-0.006 pp	-0.002 pp	+64.1%	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.