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 Technology33.7%+4.42 pp Financials12.6%+1.00 pp Consumer Staples7.2%+0.57 pp Utilities2.7%+0.11 pp Communication Services2.7%-0.04 pp Real Estate2.5%-0.34 pp Energy2.6%-0.50 pp Materials2.3%-0.52 pp Consumer Discretionary11.8%-0.67 pp Industrials9.5%-0.95 pp Health Care12.4%-3.07 pp

2 · Industry

Inside Industrials

Industrial Machinery & Supplies & Components1.03%-0.24 pp Rail Transportation0.59%-0.23 pp Heavy Electrical Equipment0.22%+0.21 pp Air Freight & Logistics0.37%-0.15 pp Construction Machinery & Heavy Transportation Equipment0.68%-0.15 pp Electrical Components & Equipment0.58%-0.14 pp Passenger Ground Transportation0.36%-0.12 pp Diversified Support Services0.34%+0.10 pp Aerospace & Defense2.24%-0.08 pp Trading Companies & Distributors0.14%-0.05 pp Environmental & Facilities Services0.49%-0.04 pp Research & Consulting Services0.16%-0.04 pp Construction & Engineering0.12%-0.02 pp Passenger Airlines0.20%+0.02 pp Human Resource & Employment Services0.41%-0.01 pp Cargo Ground Transportation0.12%-0.01 pp Building Products0.55%+0.01 pp Data Processing & Outsourced Services0.06%-0.01 pp Industrial Conglomerates0.59%-0.00 pp Agricultural & Farm Machinery0.29%+0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.20%+0.017 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.20%

Industry change · 12M

+0.02 pp

Passenger Airlines · contribution

+0.017 pp

Company participation

33%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Feb 2025 · 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
United Airlines Holdings → UAL	United States	$30.7bn	0.069%	-0.002 pp	+0.026 pp	+106.2%	Yes
Southwest Airlines → LUV	United States	$18.4bn	0.041%	-0.002 pp	-0.017 pp	-7.3%	No
Delta Air Lines → DAL	United States	$38.8bn	0.087%	-0.004 pp	+0.009 pp	+43.8%	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.