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›Systems Software›Systems Software

1 · Sector

Weight and 12M allocation change

Information Technology36.8%+3.53 ppConsumer Discretionary12.0%+1.16 ppFinancials12.2%+0.79 ppCommunication Services2.5%+0.07 ppIndustrials9.8%+0.05 ppUtilities2.7%-0.09 ppEnergy2.4%-0.29 ppMaterials2.3%-0.34 ppReal Estate2.3%-0.39 ppConsumer Staples6.4%-0.84 ppHealth Care10.6%-3.65 pp

2 · Industry

Inside Information Technology

Semiconductors14.10%+4.00 ppTechnology Hardware, Storage & Peripherals7.49%-1.23 ppSystems Software8.37%+0.47 ppCommunications Equipment1.12%+0.36 ppIT Consulting & Other Services0.93%-0.23 ppSemiconductor Materials & Equipment0.59%+0.09 ppElectronic Components0.26%+0.07 ppApplication Software3.38%+0.06 ppElectronic Equipment & Instruments0.26%-0.04 ppElectronic Manufacturing Services0.17%+0.03 ppTechnology Distributors0.04%-0.03 ppInternet Services & Infrastructure0.12%-0.02 pp

3 · Sub-industry

Inside Systems Software

Systems Software8.37%+0.470 pp
Concentrated

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

View all contributions →
Systems Software · weight
8.37%
Industry change · 12M
+0.47 pp
Systems Software · contribution
+0.470 pp
Company participation
33%
of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Aug 2025 · sorted by absolute contribution to 12-month change

CompanyCountryMarket capUniverse weight3M contribution12M contribution12M price returnAbove 6M weight average
Microsoft →
MSFT
United States$3766.3bn7.808%+0.055 pp+0.316 pp+22.4%Yes
Palo Alto Networks →
PANW
United States$127.4bn0.264%-0.027 pp+0.122 pp+5.1%No
CrowdStrike →
CRWD
United States$26.6bn0.055%+0.055 pp+0.055 pp+52.8%Yes
Fortinet →
FTNT
United States$60.4bn0.125%-0.051 pp-0.017 pp+2.7%No
ServiceNow →
NOW
United States$38.2bn0.079%-0.016 pp-0.006 pp+7.3%No
Gen Digital →
GEN
United States$18.6bn0.039%-0.001 pp-0.001 pp+16.1%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.