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 Technology38.2%+3.54 pp Financials11.8%+0.88 pp Consumer Discretionary12.1%+0.80 pp Industrials9.7%-0.00 pp Communication Services2.4%-0.05 pp Utilities2.7%-0.15 pp Energy2.3%-0.17 pp Materials2.1%-0.43 pp Real Estate2.2%-0.45 pp Consumer Staples6.2%-0.90 pp Health Care10.4%-3.06 pp

2 · Industry

Inside Industrials

Aerospace & Defense2.59%+0.31 pp Industrial Machinery & Supplies & Components0.92%-0.19 pp Heavy Electrical Equipment0.35%+0.17 pp Air Freight & Logistics0.27%-0.15 pp Rail Transportation0.55%-0.09 pp Diversified Support Services0.30%+0.08 pp Industrial Conglomerates0.51%-0.08 pp Construction & Engineering0.22%+0.08 pp Trading Companies & Distributors0.24%+0.06 pp Cargo Ground Transportation0.09%-0.05 pp Human Resource & Employment Services0.33%-0.05 pp Passenger Ground Transportation0.41%+0.04 pp Building Products0.54%-0.04 pp Research & Consulting Services0.13%-0.04 pp Environmental & Facilities Services0.43%-0.03 pp Agricultural & Farm Machinery0.25%-0.02 pp Electrical Components & Equipment0.61%-0.01 pp Passenger Airlines0.17%+0.01 pp Construction Machinery & Heavy Transportation Equipment0.74%-0.00 pp Data Processing & Outsourced Services0.06%-0.00 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.17%+0.009 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.17%

Industry change · 12M

+0.01 pp

Passenger Airlines · contribution

+0.009 pp

Company participation

67%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Sep 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	$31.2bn	0.063%	+0.006 pp	+0.019 pp	+69.1%	Yes
Southwest Airlines → LUV	United States	$16.8bn	0.034%	-0.006 pp	-0.008 pp	+10.1%	No
Delta Air Lines → DAL	United States	$37.1bn	0.074%	+0.005 pp	-0.002 pp	+13.1%	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.