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
1 · Sector
Weight and 12M allocation change
2 · Industry
Inside Information Technology
Semiconductors10.38%+6.07 ppSystems Software7.19%-1.88 ppApplication Software3.16%-0.61 ppTechnology Hardware, Storage & Peripherals8.20%+0.59 ppCommunications Equipment1.02%+0.21 ppIT Consulting & Other Services1.19%-0.12 ppElectronic Components0.19%+0.06 ppInternet Services & Infrastructure0.15%+0.05 ppTechnology Distributors0.05%-0.04 ppElectronic Equipment & Instruments0.30%-0.04 ppElectronic Manufacturing Services0.14%-0.04 ppSemiconductor Materials & Equipment0.55%-0.03 pp
3 · Sub-industry
Inside Systems Software
Systems Software · weight
7.19%
Industry change · 12M
-1.88 pp
Systems Software · contribution
-1.882 pp
Company participation
40%
of industry constituents above their 6M weight average
4 · Companies driving this sub-industry
Mar 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 |
|---|---|---|---|---|---|---|---|
| Microsoft → MSFT | United States | $2790.6bn | 6.625% | -0.481 pp | -2.044 pp | -10.1% | No |
| Palo Alto Networks → PANW | United States | $113.0bn | 0.268% | +0.133 pp | +0.141 pp | +20.1% | Yes |
| Fortinet → FTNT | United States | $74.0bn | 0.176% | +0.012 pp | +0.031 pp | +40.9% | Yes |
| ServiceNow → NOW | United States | $32.8bn | 0.078% | -0.021 pp | -0.009 pp | +4.4% | No |
| Gen Digital → GEN | United States | $16.4bn | 0.039% | +0.001 pp | -0.001 pp | +20.7% | 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.