The shape of the universe
As of 2026-10-27 the tracked universe spans eight sectors and 2,431 companies. By headcount the distribution is clear and defensible. Technology leads with 653 names (about 27%), followed by Industrials at 466 (19%) and Healthcare at 399 (16%). Basic Materials is a surprising fourth at 348 (14%), ahead of Consumer Cyclical (179), Financials (146), Energy (145) and Communication Services (95).
The breadth matters as much as the ranking. Nearly three in four tracked companies sit in just four sectors, and the long tail of Industrials and Basic Materials names — many of them international — gives the universe far more reach than a US-megacap list would suggest.
Who shows up
Technology anchors on the familiar: Apple, Microsoft, NVIDIA, AMD, Salesforce and Intel. Communication Services, though smallest by count, is dense with scale — Alphabet, Meta, Netflix, Disney and Tencent. Financials leans on Berkshire Hathaway, JPMorgan, Visa and Mastercard; Energy on Exxon, Shell and Reliance.
What's striking is the geographic spread in the less glamorous sectors. Industrials ranges from Honeywell to a Xiamen high-tech industrial listing, Archer Aviation and a Taiwanese meter maker. Basic Materials is heavy with miners and fertiliser names across Hong Kong, Toronto, Australia and London. This is not a domestic index; it's a genuinely global crawl.
A caveat on the cap figures
Here the data demands honesty. The reported totalMarketCapM values do not line up with the company counts, and they should not be trusted as stated. Financials reports roughly $159.5T, Energy $106.5T and Basic Materials $47.2T — each supposedly larger than Technology's $23T despite carrying a fraction of the names. Those numbers are not credible as sector capitalisations.
The cause is visible in the sample names themselves. The universe contains duplicate and cross-listings: Tesla appears as both TL0.F and TL0.DE, Alphabet as GOOGL and GOOG, Novo Resources as NVO.TO and NVO.AX, Galantas Gold as GAL.V and GAL.L, Obsidian Energy as OBE and OBE.TO. Each venue carries its own cap figure, and summing across them double-counts the same companies — sometimes several times over. That inflates both headcounts and totals, and the inflation is clearly uneven across sectors.
What an investor should watch
Three things follow. First, treat the sector counts as the reliable signal and the cap totals as provisional until listings are deduplicated. Second, the heavy international tail in Industrials and Basic Materials is where tracking coverage is most valuable and most fragile — currency and venue mapping will make or break those numbers. Third, the concentration of recognisable scale in Technology and Communication Services means index-level moves will still be driven by a handful of mega-caps, even though the universe is broad.
The headline, then, is encouraging breadth with a clear next task: collapse the cross-listings so the capitalisation picture can finally be read as cleanly as the company counts already can.