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
1 · Sector
Weight and 12M allocation change
2 · Industry
Inside Real Estate
Telecom Tower REITs0.26%-0.13 ppReal Estate Services0.09%-0.07 ppMulti-Family Residential REITs0.14%-0.06 ppSelf-Storage REITs0.15%-0.05 ppRetail REITs0.27%-0.03 ppData Center REITs0.30%-0.03 ppHealth Care REITs0.35%+0.02 ppHotel & Resort REITs0.08%-0.02 ppOffice REITs0.03%-0.02 ppSingle-Family Residential REITs0.03%-0.02 ppTimber REITs0.03%-0.01 ppIndustrial REITs0.23%+0.00 ppOther Specialized REITs0.07%+0.00 pp
3 · Sub-industry
Inside Telecom Tower REITs
Telecom Tower REITs · weight
0.26%
Industry change · 12M
-0.13 pp
Telecom Tower REITs · contribution
-0.126 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 |
|---|---|---|---|---|---|---|---|
| American Tower → AMT | United States | $87.1bn | 0.151% | +0.028 pp | -0.077 pp | -9.7% | Yes |
| Crown Castle → CCI | United States | $39.9bn | 0.069% | +0.016 pp | -0.030 pp | -4.5% | Yes |
| SBA Communications → SBAC | United States | $21.5bn | 0.037% | +0.008 pp | -0.019 pp | -10.3% | 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.