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
Semiconductors12.22%+9.11 ppSystems Software8.36%+2.20 ppTechnology Hardware, Storage & Peripherals7.10%+1.27 ppApplication Software3.35%+1.05 ppCommunications Equipment1.01%+0.47 ppIT Consulting & Other Services1.17%+0.41 ppSemiconductor Materials & Equipment0.57%+0.15 ppElectronic Components0.22%+0.12 ppInternet Services & Infrastructure0.14%+0.08 ppElectronic Equipment & Instruments0.29%+0.06 ppElectronic Manufacturing Services0.15%+0.03 ppTechnology Distributors0.05%-0.00 pp
3 · Sub-industry
Inside Systems Software
Systems Software · weight
8.36%
Industry change · 12M
+2.20 pp
Systems Software · contribution
+2.198 pp
Company participation
80%
of industry constituents above their 6M weight average
4 · Companies driving this sub-industry
May 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 | $3421.7bn | 7.753% | +1.153 pp | +1.855 pp | +11.7% | Yes |
| Palo Alto Networks → PANW | United States | $128.3bn | 0.291% | +0.009 pp | +0.199 pp | +30.5% | Yes |
| Fortinet → FTNT | United States | $77.9bn | 0.177% | -0.009 pp | +0.090 pp | +71.6% | No |
| ServiceNow → NOW | United States | $41.9bn | 0.095% | +0.009 pp | +0.043 pp | +53.9% | Yes |
| Gen Digital → GEN | United States | $17.7bn | 0.040% | +0.002 pp | +0.010 pp | +16.8% | 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.