The shape of the universe
As of 16 September 2026, the tracked universe spans 2,289 companies across eight sectors. Sorted by the metric we trust most here — the number of names — the concentration is unmistakable:
| Sector | Companies | Share |
|---|---|---|
| Technology | 619 | 27.0% |
| Industrials | 439 | 19.2% |
| Healthcare | 378 | 16.5% |
| Basic Materials | 323 | 14.1% |
| Consumer Cyclical | 165 | 7.2% |
| Financials | 138 | 6.0% |
| Energy | 138 | 6.0% |
| Communication Services | 89 | 3.9% |
Technology alone accounts for more than a quarter of everything tracked, and the top three sectors — Technology, Industrials, Healthcare — together make up nearly 63% of the roster. This is a growth-tilted universe by breadth, anchored by familiar large caps: Apple, Microsoft and NVIDIA in Technology; Honeywell in Industrials; Johnson & Johnson, UnitedHealth and AbbVie in Healthcare.
Notable names and the long tail
The sample names show the universe reaches well beyond U.S. megacaps. Industrials includes Chinese and Taiwanese listings (Xiamen Solex, Arch Meter) alongside newer entrants such as Archer Aviation. Basic Materials — the fourth-largest sector by count at 323 names — leans heavily into miners and fertiliser producers (China XLX, Galantas Gold, Argentina Lithium). Communication Services is small in number (89) but top-heavy with Alphabet, Meta, Netflix and Tencent.
Consumer Cyclical is worth flagging: just 165 names, yet it carries Amazon, Tesla, Home Depot and Alibaba. A thin sector holding several of the market's largest consumer franchises is exactly the kind of concentration an investor should watch — a handful of names will dominate its behaviour.
A caution on the market-cap figures
The aggregate market-cap totals in the source data do not line up with reality and should not be read at face value. They rank Financials, Energy and Basic Materials above Technology, and put Consumer Cyclical — home to Amazon and Tesla — dead last at roughly $576bn. That ordering is implausible, and almost certainly reflects unit or currency inconsistencies rather than genuine sector weight. Until those figures are reconciled, company counts are the more reliable lens on composition.
Part of the distortion likely traces to cross-listings inflating the roster. The samples show the same issuer appearing multiple times: Novo Resources as NVO.TO and NVO.AX, Galantas Gold as GAL.V and GAL.L, Tesla as TL0.F and TL0.DE, Alphabet as GOOGL and GOOG, Obsidian Energy as OBE and OBE.TO. De-duplicating these would trim the counts, particularly in Basic Materials and Energy.
What to watch
Three things stand out. First, the tech-and-industrials tilt means the universe's aggregate signal will track those sectors closely. Second, the materials and energy blocks are broad but full of small international names — useful for breadth, noisy for signal. Third, and most actionable for the platform itself: the market-cap pipeline needs a reconciliation pass before those numbers drive any weighting or ranking logic.