The shape of the universe
As of 2026-11-10, Headmars tracks roughly 2,497 companies spread across eight sectors. The distribution is lopsided, and in an instructive way: breadth and weight point in very different directions, which is exactly the kind of thing worth understanding before you read anything into aggregate numbers.
Technology and Industrials lead by breadth
By company count, Technology is the clear heavyweight at 659 names — more than a quarter of the universe — anchored by the usual suspects: Apple, Microsoft, NVIDIA, AMD, Salesforce and Intel. Industrials follow at 478, a genuinely sprawling bucket that mixes blue-chips like Honeywell with shipping (ZIM), next-gen aviation (Archer), and a long tail of listings from Shanghai and Taipei. Healthcare (414) and Basic Materials (361) round out the broad middle, after which coverage thins sharply: Consumer Cyclical (188), Energy (150), Financials (149) and Communication Services (98).
The takeaway is that the universe is skewed toward Technology and Industrials by representation. If you sample a name at random, there is better than a one-in-three chance it sits in one of those two sectors.
Why the market-cap totals should be read with care
The headline market-cap figures invert that ordering almost completely — and that divergence is the single most important thing on the page. Financials reports the largest total, followed by Energy and Basic Materials, with Technology only fourth despite having by far the most constituents. Taken literally, that would imply enormous per-company weight in thinly populated sectors, which does not square with the names involved.
The more likely explanation is visible right in the sample tickers: duplicate cross-listings. We see Tesla as both TL0.F and TL0.DE, Alphabet as GOOG and GOOGL, Novo Resources as NVO.TO and NVO.AX, Galantas as GAL.V and GAL.L, and Obsidian as OBE and OBE.TO. Each duplicate can double-count a company's capitalisation and currency-convert inconsistently, inflating sector totals in ways that have little to do with real economic weight. Count is the cleaner breadth signal here; the cap aggregates are noisy and should not be treated as a ranking of sector importance.
What an investor might watch
Three things stand out. First, concentration risk: a Technology-heavy universe means index-level moves will be disproportionately driven by a handful of mega-cap names like Apple, Microsoft and NVIDIA. Second, the international and small-cap tail — Chinese A-shares, Korean biotech like PenetriumBio, Canadian and Australian materials juniors — adds genuine diversification but also uneven liquidity and disclosure. Third, and most practically, data hygiene: the cross-listing duplication above is a reminder to de-duplicate tickers before computing any portfolio-level exposure.
For now, read the universe as broad in Technology and Industrials, deep in cyclical materials and healthcare names, and thinner — but mega-cap dense — in Communication Services. Just don't let the raw cap totals do your thinking for you.