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

Information Technology29.0%+4.54 pp Consumer Discretionary12.1%+0.51 pp Industrials9.9%+0.06 pp Materials2.9%-0.07 pp Real Estate2.8%-0.34 pp Communication Services2.9%-0.37 pp Utilities2.9%-0.44 pp Energy3.6%-0.51 pp Consumer Staples7.1%-0.55 pp Financials11.0%-1.14 pp Health Care15.8%-1.70 pp

2 · Industry

Inside Industrials

Industrial Conglomerates0.69%-0.12 pp Diversified Support Services0.23%+0.12 pp Industrial Machinery & Supplies & Components1.16%+0.11 pp Agricultural & Farm Machinery0.36%-0.07 pp Human Resource & Employment Services0.44%-0.07 pp Electrical Components & Equipment0.67%+0.06 pp Rail Transportation0.78%-0.06 pp Passenger Airlines0.15%-0.05 pp Environmental & Facilities Services0.50%+0.05 pp Air Freight & Logistics0.60%-0.05 pp Construction Machinery & Heavy Transportation Equipment0.71%+0.04 pp Trading Companies & Distributors0.15%+0.02 pp Aerospace & Defense2.42%+0.02 pp Construction & Engineering0.13%+0.01 pp Cargo Ground Transportation0.13%+0.01 pp Building Products0.48%+0.01 pp Heavy Electrical Equipment0.02%-0.01 pp Research & Consulting Services0.18%+0.01 pp Data Processing & Outsourced Services0.07%+0.01 pp Passenger Ground Transportation0.00%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.15%-0.051 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.15%

Industry change · 12M

-0.05 pp

Passenger Airlines · contribution

-0.051 pp

Company participation

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Oct 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	$13.3bn	0.045%	+0.001 pp	-0.032 pp	-37.5%	No
United Airlines Holdings → UAL	United States	$11.5bn	0.039%	+0.000 pp	-0.011 pp	-18.7%	No
Delta Air Lines → DAL	United States	$20.1bn	0.068%	+0.003 pp	-0.009 pp	-7.4%	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.