Application Software
Application Software is losing market weight. Gained weight for 1 consecutive month.
Most of this industry's losses came from a few companies.
Where did the weight change come from?
12-month contribution in universe percentage points · contributions add to the industry change
The three largest same-direction contributors explain 78% of gross losses. Opposing contributions can make an individual company’s change larger than the industry’s net change.
How has it moved through history?
Share of matched S&P 500 members
Jun 2021 – May 2026 · market weight (%)
Relative performance
Industry return versus ACWI · no future data shown
Is participation broad or concentrated?
Actual constituent counts at this date, not the legacy synthetic breadth proxy
This is size concentration, not contribution to the 12-month change. The attribution above measures the latter.
Evidence can disagree
Independent dimensions · no combined score or bullish/bearish verdict
Other evidence and availability
Valuation data: unavailable; shown as zero placeholder.
Attention data: unavailable; shown as zero placeholder.
Actual fund flows: unavailable. No ETF, mutual-fund or institutional flow feed is connected.
Volume / turnover: unavailable in this dataset.
Follow the contribution to individual companies
Sorted by absolute 12-month weight contribution, not investment merit
| Company | Sub-industry | Country | Universe weight | 12M contribution | 12M price return | Revisions |
|---|---|---|---|---|---|---|
| Intuit → INTU | Application Software | United States | 0.157% | -0.319 pp | -55.6% | 0.0 |
| Salesforce → CRM | Application Software | United States | 0.271% | -0.304 pp | -27.4% | 0.0 |
| Adobe Inc. → ADBE | Application Software | United States | 0.182% | -0.219 pp | -37.6% | 0.0 |
| Oracle Corporation → ORCL | Application Software | United States | 1.125% | +0.074 pp | +37.8% | 0.0 |
| Workday, Inc. → WDAY | Application Software | United States | 0.056% | -0.068 pp | -41.0% | 0.0 |
| Autodesk → ADSK | Application Software | United States | 0.085% | -0.059 pp | -21.9% | 0.0 |
| Fair Isaac → FICO | Application Software | United States | 0.050% | -0.045 pp | -27.6% | 0.0 |
| Tyler Technologies → TYL | Application Software | United States | 0.023% | -0.033 pp | -45.7% | 0.0 |
| PTC Inc. → PTC | Application Software | United States | 0.028% | -0.018 pp | -17.6% | 0.0 |
| Trimble Inc. → TRMB | Application Software | United States | 0.023% | -0.016 pp | -20.9% | 0.0 |
| Synopsys → SNPS | Application Software | United States | 0.158% | -0.005 pp | +2.5% | 0.0 |
| Cadence Design Systems → CDNS | Application Software | United States | 0.179% | +0.002 pp | +30.6% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| May 2026 | 2.336% | +0.758 pp | +0.762 pp | -0.574 pp | -1.011 pp | -29.0% |
| Apr 2026 | 1.578% | -0.047 pp | -0.867 pp | -1.790 pp | -1.682 pp | -35.0% |
| Mar 2026 | 1.626% | +0.051 pp | -1.358 pp | -1.924 pp | -1.539 pp | -30.8% |
| Feb 2026 | 1.574% | -0.871 pp | -1.336 pp | -1.805 pp | -1.731 pp | -37.6% |
| Jan 2026 | 2.446% | -0.538 pp | -0.922 pp | -1.242 pp | -1.027 pp | -33.2% |
| Dec 2025 | 2.984% | +0.073 pp | -0.566 pp | -0.575 pp | -0.527 pp | -20.0% |
| Nov 2025 | 2.910% | -0.458 pp | -0.470 pp | -0.437 pp | -0.607 pp | -24.5% |
| Oct 2025 | 3.368% | -0.182 pp | -0.320 pp | +0.107 pp | -0.046 pp | -7.6% |
| Sep 2025 | 3.550% | +0.170 pp | -0.009 pp | +0.385 pp | +0.159 pp | -0.8% |
| Aug 2025 | 3.380% | -0.308 pp | +0.033 pp | +0.075 pp | +0.060 pp | -0.9% |
| Jul 2025 | 3.688% | +0.130 pp | +0.427 pp | +0.215 pp | +1.231 pp | +7.0% |
| Jun 2025 | 3.558% | +0.211 pp | +0.393 pp | +0.048 pp | +0.952 pp | -0.9% |
| May 2025 | 3.347% | +0.087 pp | +0.042 pp | -0.170 pp | +1.047 pp | +5.3% |
| Apr 2025 | 3.261% | +0.096 pp | -0.212 pp | -0.153 pp | -0.334 pp | -5.2% |
| Mar 2025 | 3.165% | -0.140 pp | -0.346 pp | -0.226 pp | -0.608 pp | -11.6% |
| Feb 2025 | 3.305% | -0.168 pp | -0.212 pp | -0.015 pp | -0.584 pp | -8.4% |
| Jan 2025 | 3.473% | -0.037 pp | +0.059 pp | +1.016 pp | -0.483 pp | -5.8% |
| Dec 2024 | 3.511% | -0.007 pp | +0.120 pp | +0.904 pp | -0.295 pp | +0.1% |
| Nov 2024 | 3.517% | +0.103 pp | +0.197 pp | +1.216 pp | -0.469 pp | -0.6% |
| Oct 2024 | 3.414% | +0.023 pp | +0.957 pp | -0.180 pp | -0.338 pp | +0.4% |
| Sep 2024 | 3.391% | +0.070 pp | +0.785 pp | -0.382 pp | -0.311 pp | +0.7% |
| Aug 2024 | 3.320% | +0.863 pp | +1.020 pp | -0.569 pp | -0.510 pp | -6.6% |
| Jul 2024 | 2.457% | -0.149 pp | -1.137 pp | -1.499 pp | -0.105 pp | +0.4% |
| Jun 2024 | 2.606% | +0.305 pp | -1.167 pp | -1.199 pp | +0.012 pp | +4.6% |
| May 2024 | 2.301% | -1.294 pp | -1.588 pp | -1.685 pp | -0.311 pp | -7.0% |
| Apr 2024 | 3.594% | -0.179 pp | -0.362 pp | -0.158 pp | +0.325 pp | +10.7% |
| Mar 2024 | 3.773% | -0.116 pp | -0.032 pp | +0.071 pp | +0.450 pp | +14.6% |
| Feb 2024 | 3.889% | -0.067 pp | -0.096 pp | +0.059 pp | +0.888 pp | +27.7% |
| Jan 2024 | 3.957% | +0.151 pp | +0.204 pp | +1.394 pp | +0.915 pp | +30.1% |
| Dec 2023 | 3.805% | -0.180 pp | +0.103 pp | +1.211 pp | +0.948 pp | +30.9% |
| Nov 2023 | 3.986% | +0.234 pp | +0.156 pp | +1.374 pp | +1.116 pp | +35.0% |
| Oct 2023 | 3.752% | +0.050 pp | +1.190 pp | +0.483 pp | +0.855 pp | +21.3% |
| Sep 2023 | 3.702% | -0.128 pp | +1.108 pp | +0.379 pp | +0.882 pp | +27.1% |
| Aug 2023 | 3.830% | +1.268 pp | +1.218 pp | +0.828 pp | +0.828 pp | +24.6% |
| Jul 2023 | 2.562% | -0.032 pp | -0.707 pp | -0.480 pp | -0.578 pp | +13.5% |
| Jun 2023 | 2.594% | -0.017 pp | -0.729 pp | -0.263 pp | -0.503 pp | +20.3% |
| May 2023 | 2.612% | -0.657 pp | -0.390 pp | -0.258 pp | -0.435 pp | +22.4% |
| Apr 2023 | 3.269% | -0.054 pp | +0.227 pp | +0.372 pp | +0.201 pp | +10.1% |
| Mar 2023 | 3.323% | +0.321 pp | +0.466 pp | +0.503 pp | +0.043 pp | +6.6% |
| Feb 2023 | 3.002% | -0.040 pp | +0.132 pp | -0.001 pp | -0.300 pp | -1.2% |
| Jan 2023 | 3.042% | +0.184 pp | +0.145 pp | -0.098 pp | -0.493 pp | -7.2% |
| Dec 2022 | 2.857% | -0.012 pp | +0.038 pp | -0.240 pp | -0.870 pp | -16.0% |
| Nov 2022 | 2.870% | -0.027 pp | -0.133 pp | -0.177 pp | -1.332 pp | -22.7% |
| Oct 2022 | 2.897% | +0.077 pp | -0.243 pp | -0.172 pp | -1.326 pp | -19.0% |
| Sep 2022 | 2.820% | -0.183 pp | -0.277 pp | -0.460 pp | -1.144 pp | -19.6% |
| Aug 2022 | 3.003% | -0.137 pp | -0.044 pp | -0.299 pp | -1.019 pp | -16.1% |
| Jul 2022 | 3.140% | +0.043 pp | +0.071 pp | -0.395 pp | -0.704 pp | -9.3% |
| Jun 2022 | 3.097% | +0.051 pp | -0.183 pp | -0.630 pp | -0.632 pp | -11.0% |
| May 2022 | 3.047% | -0.022 pp | -0.255 pp | -1.155 pp | -0.522 pp | -8.5% |
| Apr 2022 | 3.069% | -0.211 pp | -0.467 pp | -1.154 pp | -0.476 pp | -7.5% |
| Mar 2022 | 3.280% | -0.021 pp | -0.447 pp | -0.684 pp | +1.514 pp | -0.2% |
| Feb 2022 | 3.301% | -0.234 pp | -0.900 pp | -0.720 pp | +1.523 pp | -1.5% |
| Jan 2022 | 3.535% | -0.192 pp | -0.688 pp | -0.309 pp | +1.454 pp | +5.1% |
| Dec 2021 | 3.727% | -0.475 pp | -0.237 pp | -0.003 pp | +0.099 pp | +5.7% |
| Nov 2021 | 4.202% | -0.021 pp | +0.180 pp | +0.633 pp | +0.528 pp | +16.1% |
| Oct 2021 | 4.223% | +0.258 pp | +0.379 pp | +0.678 pp | +0.402 pp | +11.1% |
| Sep 2021 | 3.964% | -0.057 pp | +0.235 pp | +2.198 pp | +3.960 pp | +0.9% |
| Aug 2021 | 4.021% | +0.177 pp | +0.453 pp | +2.243 pp | +4.017 pp | +1.7% |
| Jul 2021 | 3.844% | +0.115 pp | +0.300 pp | +1.763 pp | +3.840 pp | +7.4% |
| Jun 2021 | 3.729% | +0.161 pp | +1.963 pp | +0.102 pp | +3.725 pp | -0.7% |
How are these descriptive states defined?
Gaining / losing: 12-month weight change above +0.005pp / below −0.005pp. Direction and speed are separate dimensions, not mutually exclusive recommendations.
Accelerating / slowing: compare the most recent 3M change with the preceding 3M change. Accelerating means a positive change speeds up by >0.02pp. Slowing means the magnitude of movement declines by >0.02pp. A falling industry can also slow.
Reversing: the last two 3M changes have opposite signs, outside a ±0.005pp tolerance. Persistence counts consecutive same-direction monthly changes.
Broad / concentrated: company attribution, not a market-cap concentration shortcut. Concentrated means the three largest same-direction contributors account for ≥70% of gross same-direction changes; otherwise broad requires ≥60% of constituents moving with the industry. Other cases are mixed.
Weights use matched S&P 500 members’ market-cap estimates, based on SEC-reported shares available by each month-end and monthly closing prices. Companies without a matched price or share record are omitted, so the denominator is the matched sample rather than every index member. These are not official float-adjusted S&P weights. Flow is not measured.