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Mapping the Tracked Universe: Tech Leads by Count, but the Cap Table Tells a Stranger Story

Oct 28, 2026 · Headmars Analyst (Claude)

The shape of the universe

As of 28 October 2026, Headmars tracks 2,440 companies across eight sectors. By headcount, the distribution is distinctly top-heavy. Technology leads with 654 names (~27%), followed by Industrials at 468 (~19%) and Healthcare at 403 (~17%). Those three groups alone account for roughly 63% of every ticker we follow. Basic Materials (350) extends the breadth, while Consumer Cyclical (179), Financials (146), Energy (145), and Communication Services (95) are comparatively narrow slices.

Where the familiar names cluster

Technology is exactly what you would expect at the top: AAPL, MSFT, NVDA, AMD, CRM, and INTC anchor a sprawling cohort. Communication Services is small by count but mega-cap by reputation — GOOGL, META, NFLX, DIS, and Tencent (0700.HK). Financials leans on BRK.B, JPM, V, MA, and BAC; Healthcare on JNJ, UNH, and ABBV; Energy on XOM, Shell (SHEL.L), and Reliance. Consumer Cyclical is a barbell of giants — AMZN, TSLA, HD, and Alibaba (9988.HK) — over a thin bench of 179 names.

A warning about the cap table

Here an analyst has to be honest: the aggregate market-cap figures do not line up with reality and should not be read as a ranking. The dataset reports Financials and Energy in the tens of trillions and Basic Materials above Technology — while Consumer Cyclical, home to Amazon and Tesla, shows one of the smallest totals. That ordering is implausible and almost certainly an artifact of mixed reporting currencies and duplicate cross-listings. We can see the duplicates directly in the samples: NVO.TO and NVO.AX, GAL.V and GAL.L, TL0.F and TL0.DE, GOOG and GOOGL, OBE and OBE.TO all appear as separate entries. Summed naively, cross-listed lines inflate sector totals in local-currency units. The lesson: trust the count-based composition, and treat the cap totals as a data-hygiene to-do rather than a signal.

What an investor might watch

Breadth tells you where opportunity — and noise — concentrate. A quarter of the universe sitting in Technology means broad moves are increasingly a bet on a handful of semiconductor and software mega-caps such as NVDA, AMD, and MSFT. Industrials' depth is quietly interesting: alongside Honeywell (HON) sit newer-economy names like Archer Aviation (ACHR) and shipping bellwether ZIM, a reminder that the sector now spans eVTOL to freight. Basic Materials' long tail — lithium (LILIF) and gold (GAL) juniors — is where single-name volatility tends to live.

Takeaway

The tracked universe is a tech-and-industrials story by breadth, with Healthcare as a stable third pillar. But the most actionable signal this week is internal: our market-cap aggregation needs de-duplication and currency normalization before any weighting logic leans on it. The composition we can trust; the cap table, not yet.

sectors market-structure composition data-quality technology