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›Information Technology›Application Software›Application Software

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 Information Technology

Systems Software8.74%+2.04 pp Technology Hardware, Storage & Peripherals9.23%+1.49 pp Semiconductors4.01%+0.98 pp Application Software3.81%+0.95 pp Semiconductor Materials & Equipment0.51%+0.12 pp Communications Equipment0.85%-0.07 pp IT Consulting & Other Services1.33%+0.05 pp Electronic Manufacturing Services0.18%+0.05 pp Electronic Equipment & Instruments0.36%-0.03 pp Electronic Components0.12%-0.02 pp Internet Services & Infrastructure0.12%-0.01 pp Technology Distributors0.09%+0.00 pp

3 · Sub-industry

Inside Application Software

Application Software3.81%+0.948 pp

Broad

The gain is shared across much of the industry.

View all contributions →

Application Software · weight

3.81%

Industry change · 12M

+0.95 pp

Application Software · contribution

+0.948 pp

Company participation

91%

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
Salesforce → CRM	United States	$254.7bn	0.760%	+0.101 pp	+0.281 pp	+98.5%	Yes
Adobe Inc. → ADBE	United States	$271.6bn	0.810%	+0.035 pp	+0.245 pp	+77.3%	Yes
Intuit → INTU	United States	$175.0bn	0.522%	+0.044 pp	+0.127 pp	+61.8%	Yes
Fair Isaac → FICO	United States	$28.8bn	0.086%	+0.014 pp	+0.086 pp	+94.5%	Yes
Oracle Corporation → ORCL	United States	$289.8bn	0.864%	-0.105 pp	+0.069 pp	+30.9%	No
Cadence Design Systems → CDNS	United States	$74.1bn	0.221%	+0.008 pp	+0.062 pp	+69.6%	Yes
Synopsys → SNPS	United States	$78.3bn	0.233%	+0.000 pp	+0.058 pp	+61.3%	Yes
PTC Inc. → PTC	United States	$20.9bn	0.062%	+0.006 pp	+0.011 pp	+45.8%	Yes
Autodesk → ADSK	United States	$52.1bn	0.155%	+0.008 pp	+0.010 pp	+30.3%	Yes
Trimble Inc. → TRMB	United States	$13.2bn	0.039%	-0.005 pp	-0.006 pp	+5.2%	Yes
Tyler Technologies → TYL	United States	$17.6bn	0.053%	-0.002 pp	+0.004 pp	+29.7%	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.