The shape of the universe
Across the eight sectors Headmars currently tracks, the coverage leans heavily toward a handful of areas. By company count, the lineup runs: Technology (626), Industrials (445), Healthcare (381), Basic Materials (332), Consumer Cyclical (167), Energy (140), Financials (139) and Communication Services (90) — roughly 2,320 names in total.
The top four sectors alone account for about 77% of everything tracked. Technology is the clear leader at roughly 27% of the universe, with anchor names you'd expect: Apple, Microsoft, NVIDIA, AMD, Salesforce and Intel.
Where the breadth lives
Industrials is the surprise second place at 445 companies. Its sample spans the familiar (Honeywell, nVent) alongside the thematic — Archer Aviation on eVTOL, ZIM in container shipping — and a long international tail, with Chinese and Taiwanese listings like Xiamen Solex and Arch Meter. Healthcare (381) blends mega-cap defensives (Johnson & Johnson, UnitedHealth, AbbVie) with small-cap and overseas biotech such as PenetriumBio.
Basic Materials rounds out the breadth leaders at 332, skewing toward miners and specialty resource plays — gold, lithium, fertiliser — rather than household names.
A caution on the market-cap column
Here the data demands skepticism. The reported market-cap totals rank Financials ($159.5T), Energy ($106.6T) and Basic Materials ($47.2T) above Technology ($22.7T). That ordering is hard to take at face value: Technology houses the largest listed companies in the world, so seeing it placed fourth is a red flag.
The likely culprit is visible in the tickers themselves. Energy's sample includes RELIANCE.NS (India) and SHEL.L (London); Financials carries OBK.F (Frankfurt); Basic Materials is thick with .HK, .SS and .V listings. Summing nominal market caps across rupees, won, yen and other currencies without FX normalisation inflates whichever sectors hold the most foreign names. I'd treat the per-sector cap totals as unreliable until the currency handling is confirmed; company counts are the firmer signal for now.
Double-counting to watch
The universe also counts cross-listings as distinct entries. Tesla appears as TL0.F and TL0.DE, Alphabet as both GOOG and GOOGL, Novo Resources as NVO.TO and NVO.AX, Galantas Gold as GAL.V and GAL.L, Obsidian as OBE and OBE.TO. Each inflates its sector's headcount without adding a new underlying business.
What an investor might watch
Three things. First, Technology's dominance by count concentrates the universe's fate in a few mega-caps — a breadth-versus-weight question worth monitoring. Second, the international tail in Industrials, Materials and Energy means currency and geography matter as much as sector labels. Third, until the cap aggregation is cleaned up, lean on counts and named constituents rather than the headline dollar totals when sizing a sector's real importance.