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
1 · Sector
Weight and 12M allocation change
2 · Industry
Inside Real Estate
Telecom Tower REITs0.46%-0.30 ppMulti-Family Residential REITs0.24%-0.09 ppSelf-Storage REITs0.24%-0.05 ppIndustrial REITs0.35%+0.05 ppOffice REITs0.09%-0.05 ppRetail REITs0.32%-0.04 ppData Center REITs0.35%+0.03 ppHotel & Resort REITs0.14%-0.02 ppSingle-Family Residential REITs0.06%-0.02 ppReal Estate Services0.18%-0.01 ppTimber REITs0.07%-0.01 ppOther Specialized REITs0.06%+0.01 ppHealth Care REITs0.23%+0.00 pp
3 · Sub-industry
Inside Telecom Tower REITs
Telecom Tower REITs · weight
0.46%
Industry change · 12M
-0.30 pp
Telecom Tower REITs · contribution
-0.298 pp
Company participation
100%
of industry constituents above their 6M weight average
4 · Companies driving this sub-industry
Sep 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 |
|---|---|---|---|---|---|---|---|
| American Tower → AMT | United States | $76.7bn | 0.256% | +0.047 pp | -0.137 pp | -21.1% | Yes |
| Crown Castle → CCI | United States | $39.9bn | 0.133% | +0.019 pp | -0.113 pp | -32.9% | Yes |
| SBA Communications → SBAC | United States | $21.7bn | 0.072% | +0.014 pp | -0.048 pp | -28.7% | 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.