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 Technology41.9%+7.32 pp Energy2.5%+0.19 pp Consumer Discretionary11.8%-0.20 pp Materials2.0%-0.21 pp Communication Services2.4%-0.32 pp Real Estate2.0%-0.41 pp Utilities2.4%-0.43 pp Industrials9.6%-0.50 pp Health Care9.7%-1.47 pp Consumer Staples5.7%-1.52 pp Financials9.8%-2.46 pp

2 · Industry

Inside Industrials

Construction Machinery & Heavy Transportation Equipment1.03%+0.37 pp Construction & Engineering0.38%+0.24 pp Aerospace & Defense2.35%-0.23 pp Human Resource & Employment Services0.21%-0.21 pp Industrial Machinery & Supplies & Components0.80%-0.20 pp Environmental & Facilities Services0.33%-0.19 pp Electrical Components & Equipment0.80%+0.19 pp Heavy Electrical Equipment0.48%+0.17 pp Diversified Support Services0.20%-0.16 pp Passenger Ground Transportation0.25%-0.15 pp Building Products0.49%-0.13 pp Research & Consulting Services0.07%-0.10 pp Industrial Conglomerates0.52%-0.07 pp Agricultural & Farm Machinery0.25%-0.06 pp Trading Companies & Distributors0.20%+0.04 pp Data Processing & Outsourced Services0.03%-0.03 pp Air Freight & Logistics0.34%+0.03 pp Rail Transportation0.53%-0.03 pp Passenger Airlines0.19%+0.02 pp Cargo Ground Transportation0.13%+0.02 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.19%+0.021 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.19%

Industry change · 12M

+0.02 pp

Passenger Airlines · contribution

+0.021 pp

Company participation

100%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

May 2026 · 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	$54.2bn	0.094%	+0.035 pp	+0.022 pp	+72.5%	Yes
Southwest Airlines → LUV	United States	$21.0bn	0.036%	+0.003 pp	-0.007 pp	+31.3%	Yes
United Airlines Holdings → UAL	United States	$37.3bn	0.065%	+0.017 pp	+0.006 pp	+44.5%	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.