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 Technology29.7%+5.20 pp Consumer Discretionary11.9%+0.62 pp Industrials10.2%+0.09 pp Communication Services2.9%-0.50 pp Real Estate2.8%-0.52 pp Materials2.7%-0.53 pp Utilities2.7%-0.66 pp Consumer Staples6.7%-0.73 pp Energy3.1%-0.73 pp Financials11.7%-0.96 pp Health Care15.6%-1.28 pp

2 · Industry

Inside Industrials

Passenger Ground Transportation0.40%+0.40 pp Industrial Conglomerates0.62%-0.19 pp Air Freight & Logistics0.53%-0.16 pp Aerospace & Defense2.34%-0.11 pp Agricultural & Farm Machinery0.33%-0.10 pp Industrial Machinery & Supplies & Components1.22%+0.10 pp Diversified Support Services0.23%+0.09 pp Environmental & Facilities Services0.50%+0.09 pp Construction Machinery & Heavy Transportation Equipment0.78%+0.06 pp Passenger Airlines0.17%-0.05 pp Rail Transportation0.81%-0.04 pp Human Resource & Employment Services0.43%-0.03 pp Trading Companies & Distributors0.18%+0.03 pp Building Products0.51%-0.02 pp Electrical Components & Equipment0.65%+0.02 pp Data Processing & Outsourced Services0.07%+0.01 pp Construction & Engineering0.13%+0.01 pp Heavy Electrical Equipment0.02%-0.01 pp Cargo Ground Transportation0.13%-0.00 pp Research & Consulting Services0.19%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.17%-0.045 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.17%

Industry change · 12M

-0.05 pp

Passenger Airlines · contribution

-0.045 pp

Company participation

33%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Jan 2024 · 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	$17.8bn	0.053%	+0.008 pp	-0.020 pp	-14.5%	Yes
United Airlines Holdings → UAL	United States	$13.6bn	0.040%	+0.001 pp	-0.014 pp	-15.5%	No
Delta Air Lines → DAL	United States	$25.2bn	0.075%	+0.007 pp	-0.011 pp	+0.6%	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.