The shape of the tracked universe
As of 4 November 2026, the Headmars universe spans eight sectors and 2,477 companies. Ranked by headcount, the hierarchy is clear and unsurprising for a modern, software-led market:
| Sector | Companies |
|---|---|
| Technology | 656 |
| Industrials | 475 |
| Healthcare | 409 |
| Basic Materials | 357 |
| Consumer Cyclical | 186 |
| Financials | 149 |
| Energy | 149 |
| Communication Services | 96 |
Technology alone accounts for roughly a quarter of every name we track, anchored by the usual megacaps — Apple, Microsoft, and NVIDIA — alongside the semiconductor supporting cast of AMD and Intel. Industrials and Healthcare round out a broad top three, together making up more than half the universe.
Breadth tells one story, the cap totals tell another
Here the data demands a sceptic's eye. If you rank the same sectors by reported totalMarketCapM, the order inverts in ways that do not match the company counts:
- Financials reports ~$159.5tn
- Energy ~$106.6tn
- Basic Materials ~$47.2tn
- Technology ~$23.1tn
That is implausible as a reflection of real relative weight — a 149-name Financials sector cannot genuinely outweigh a 656-name Technology sector by sevenfold. The sample names hint at why: the universe is riddled with cross-listings. Novo Resources appears as both NVO.TO and NVO.AX; Galantas Gold as GAL.V and GAL.L; Tesla shows up thrice (TSLA, TL0.F, TL0.DE); Alphabet as GOOGL and GOOG. When the same company is counted across multiple exchanges, aggregate cap figures inflate unpredictably. The headline cap totals should be treated as a data-hygiene signal, not an investment thesis.
Notable names and what they signal
Beyond the megacaps, the sample reveals genuine global reach. Industrials stretches from Honeywell to Xiamen Solex and Taiwan's Arch Meter, with speculative aviation plays like Archer in the mix. Energy pairs the supermajors — Exxon, Shell, Reliance — with smaller producers such as Obsidian and Antero. Communication Services is concentrated and megacap-heavy: Alphabet, Meta, Netflix, Disney, and Tencent carry a 96-name sector.
What an investor might watch
Three things stand out. First, concentration risk: Technology's breadth means index-like exposure is really a bet on a handful of names at the top. Second, the global tail — Chinese A-shares, Hong Kong, Korean, and Australian listings — brings diversification but also FX and settlement friction. Third, and most practically, trust the counts over the cap totals until the cross-listing duplicates are de-duplicated. A universe this broad is an asset; a universe this noisy is a reminder that the first job of analysis is cleaning the data before trusting it.