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 Technology39.9%+2.38 pp Energy2.7%+0.38 pp Health Care10.6%+0.37 pp Materials2.0%-0.11 pp Industrials9.9%-0.12 pp Real Estate2.1%-0.17 pp Communication Services2.2%-0.23 pp Utilities2.5%-0.34 pp Consumer Discretionary11.3%-0.38 pp Consumer Staples5.9%-0.60 pp Financials10.9%-1.19 pp

2 · Industry

Inside Industrials

Construction Machinery & Heavy Transportation Equipment1.02%+0.30 pp Construction & Engineering0.37%+0.21 pp Industrial Conglomerates0.39%-0.15 pp Passenger Ground Transportation0.25%-0.14 pp Electrical Components & Equipment0.78%+0.12 pp Environmental & Facilities Services0.34%-0.12 pp Human Resource & Employment Services0.26%-0.12 pp Diversified Support Services0.22%-0.11 pp Building Products0.50%-0.09 pp Heavy Electrical Equipment0.48%+0.08 pp Industrial Machinery & Supplies & Components0.89%-0.07 pp Research & Consulting Services0.08%-0.06 pp Aerospace & Defense2.54%-0.05 pp Rail Transportation0.60%+0.05 pp Air Freight & Logistics0.33%+0.04 pp Passenger Airlines0.21%+0.04 pp Data Processing & Outsourced Services0.03%-0.03 pp Cargo Ground Transportation0.12%+0.03 pp Agricultural & Farm Machinery0.28%-0.02 pp Trading Companies & Distributors0.21%-0.02 pp

3 · Sub-industry

Inside Passenger Airlines

Passenger Airlines0.21%+0.040 pp

Concentrated

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

View all contributions →

Passenger Airlines · weight

0.21%

Industry change · 12M

+0.04 pp

Passenger Airlines · contribution

+0.040 pp

Company participation

100%

of industry constituents above their 6M weight average

4 · Companies driving this sub-industry

Jul 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	$57.5bn	0.100%	+0.040 pp	+0.027 pp	+66.1%	Yes
United Airlines Holdings → UAL	United States	$39.4bn	0.069%	+0.029 pp	+0.008 pp	+37.4%	Yes
Southwest Airlines → LUV	United States	$22.0bn	0.038%	+0.013 pp	+0.004 pp	+48.1%	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.