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 Technology29.3%+5.56 pp Consumer Discretionary12.4%+2.29 pp Industrials10.4%-0.00 pp Real Estate2.9%-0.24 pp Materials2.8%-0.35 pp Communication Services2.8%-0.37 pp Energy3.2%-0.82 pp Utilities2.8%-0.82 pp Financials11.5%-0.88 pp Consumer Staples6.6%-1.31 pp Health Care15.2%-3.03 pp

2 · Industry

Inside Industrials

Passenger Ground Transportation0.38%+0.38 pp Industrial Conglomerates0.68%-0.19 pp Aerospace & Defense2.41%-0.17 pp Agricultural & Farm Machinery0.33%-0.13 pp Industrial Machinery & Supplies & Components1.21%+0.12 pp Air Freight & Logistics0.57%-0.10 pp Human Resource & Employment Services0.41%-0.09 pp Rail Transportation0.81%-0.09 pp Diversified Support Services0.23%+0.08 pp Environmental & Facilities Services0.49%+0.05 pp Construction Machinery & Heavy Transportation Equipment0.77%+0.05 pp Trading Companies & Distributors0.17%+0.03 pp Passenger Airlines0.17%-0.02 pp Electrical Components & Equipment0.67%+0.02 pp Data Processing & Outsourced Services0.07%+0.02 pp Construction & Engineering0.13%+0.02 pp Building Products0.52%+0.01 pp Research & Consulting Services0.19%+0.01 pp Cargo Ground Transportation0.13%+0.01 pp Heavy Electrical Equipment0.02%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.17%-0.024 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.17%

Industry change · 12M

-0.02 pp

Passenger Airlines · contribution

-0.024 pp

Company participation

67%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Dec 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	$17.2bn	0.051%	-0.003 pp	-0.021 pp	-11.8%	Yes
United Airlines Holdings → UAL	United States	$13.5bn	0.040%	-0.006 pp	-0.004 pp	+9.4%	No
Delta Air Lines → DAL	United States	$25.9bn	0.077%	-0.002 pp	+0.001 pp	+23.0%	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.