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

Materials32.1%+29.08 pp Energy2.4%-0.93 pp Real Estate2.0%-1.30 pp Utilities2.1%-1.36 pp Communication Services1.9%-1.47 pp Consumer Discretionary8.6%-2.35 pp Consumer Staples4.9%-2.62 pp Industrials7.0%-2.73 pp Financials7.7%-3.97 pp Health Care10.9%-5.94 pp Information Technology20.2%-6.43 pp

2 · Industry

Inside Industrials

Aerospace & Defense1.65%-0.57 pp Rail Transportation0.57%-0.36 pp Industrial Conglomerates0.49%-0.32 pp Air Freight & Logistics0.48%-0.28 pp Industrial Machinery & Supplies & Components0.80%-0.23 pp Human Resource & Employment Services0.32%-0.18 pp Environmental & Facilities Services0.29%-0.16 pp Electrical Components & Equipment0.46%-0.13 pp Agricultural & Farm Machinery0.27%-0.09 pp Building Products0.38%-0.08 pp Construction Machinery & Heavy Transportation Equipment0.52%-0.08 pp Research & Consulting Services0.13%-0.06 pp Passenger Airlines0.15%-0.04 pp Heavy Electrical Equipment0.02%-0.04 pp Cargo Ground Transportation0.10%-0.03 pp Construction & Engineering0.09%-0.03 pp Trading Companies & Distributors0.11%-0.02 pp Data Processing & Outsourced Services0.04%-0.02 pp Diversified Support Services0.10%-0.01 pp Passenger Ground Transportation0.00%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.15%-0.041 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.15%

Industry change · 12M

-0.04 pp

Passenger Airlines · contribution

-0.041 pp

Company participation

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Jul 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	$20.3bn	0.044%	-0.017 pp	-0.033 pp	-9.0%	No
Delta Air Lines → DAL	United States	$29.8bn	0.065%	-0.010 pp	-0.005 pp	+45.8%	No
United Airlines Holdings → UAL	United States	$17.8bn	0.039%	-0.010 pp	-0.002 pp	+47.8%	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.