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 Technology39.6%+4.74 pp Consumer Discretionary12.3%+1.05 pp Utilities2.7%-0.15 pp Financials11.2%-0.18 pp Industrials9.5%-0.27 pp Energy2.2%-0.34 pp Communication Services2.1%-0.37 pp Real Estate2.1%-0.48 pp Materials2.0%-0.52 pp Consumer Staples5.9%-1.08 pp Health Care10.5%-2.40 pp

2 · Industry

Inside Industrials

Aerospace & Defense2.55%+0.35 pp Industrial Machinery & Supplies & Components0.89%-0.20 pp Air Freight & Logistics0.30%-0.12 pp Heavy Electrical Equipment0.33%+0.11 pp Human Resource & Employment Services0.29%-0.11 pp Rail Transportation0.51%-0.10 pp Diversified Support Services0.27%-0.10 pp Construction & Engineering0.23%+0.08 pp Construction Machinery & Heavy Transportation Equipment0.82%+0.08 pp Environmental & Facilities Services0.39%-0.08 pp Research & Consulting Services0.11%-0.06 pp Industrial Conglomerates0.52%-0.06 pp Cargo Ground Transportation0.09%-0.05 pp Passenger Ground Transportation0.39%+0.04 pp Passenger Airlines0.16%-0.03 pp Trading Companies & Distributors0.20%+0.02 pp Agricultural & Farm Machinery0.24%-0.02 pp Building Products0.54%-0.01 pp Electrical Components & Equipment0.62%-0.01 pp Data Processing & Outsourced Services0.05%-0.01 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.16%-0.027 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.16%

Industry change · 12M

-0.03 pp

Passenger Airlines · contribution

-0.027 pp

Company participation

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Oct 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
Delta Air Lines → DAL	United States	$37.5bn	0.073%	+0.000 pp	-0.013 pp	+1.5%	No
Southwest Airlines → LUV	United States	$15.7bn	0.031%	-0.004 pp	-0.012 pp	+1.3%	No
United Airlines Holdings → UAL	United States	$30.4bn	0.060%	-0.001 pp	-0.001 pp	+20.2%	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.