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›Health Care›Biotechnology›Biotechnology

1 · Sector

Weight and 12M allocation change

Information Technology38.1%+4.07 pp Utilities2.8%-0.02 pp Consumer Discretionary12.0%-0.02 pp Energy2.3%-0.32 pp Materials2.1%-0.33 pp Real Estate2.1%-0.38 pp Industrials9.4%-0.40 pp Communication Services2.2%-0.48 pp Health Care11.5%-0.58 pp Consumer Staples6.2%-0.72 pp Financials11.4%-0.82 pp

2 · Industry

Inside Health Care

Managed Health Care0.83%-0.76 pp Pharmaceuticals4.11%+0.25 pp Health Care Equipment2.35%-0.12 pp Health Care Distributors0.47%+0.10 pp Life Sciences Tools & Services1.06%-0.10 pp Biotechnology1.94%+0.09 pp Health Care Supplies0.09%-0.05 pp Health Care Facilities0.23%+0.04 pp Health Care Services0.45%-0.04 pp Health Care Technology0.03%+0.00 pp

3 · Sub-industry

Inside Biotechnology

Biotechnology1.94%+0.090 pp

Concentrated

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

View all contributions →

Biotechnology · weight

1.94%

Industry change · 12M

+0.09 pp

Biotechnology · contribution

+0.090 pp

Company participation

75%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Nov 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
AbbVie → ABBV	United States	$402.4bn	0.791%	+0.020 pp	+0.077 pp	+28.8%	Yes
Gilead Sciences → GILD	United States	$156.1bn	0.307%	+0.016 pp	+0.052 pp	+40.0%	Yes
Vertex Pharmaceuticals → VRTX	United States	$110.0bn	0.216%	+0.008 pp	-0.050 pp	-7.4%	No
Amgen → AMGN	United States	$186.0bn	0.365%	+0.044 pp	+0.030 pp	+26.1%	Yes
Moderna → MRNA	United States	$10.1bn	0.020%	+0.001 pp	-0.017 pp	-39.7%	No
Regeneron Pharmaceuticals → REGN	United States	$73.3bn	0.144%	+0.031 pp	-0.012 pp	+4.6%	Yes
Incyte → INCY	United States	$20.5bn	0.040%	+0.006 pp	+0.009 pp	+40.0%	Yes
Biogen → BIIB	United States	$26.7bn	0.052%	+0.012 pp	+0.001 pp	+13.4%	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.