The shape of the universe
The tracked universe spans eight sectors and 2,513 companies as of 2026-11-13. By headcount, it is unmistakably top-heavy. Technology leads with 662 names (about 26%), followed by Industrials at 481 (19%) and Healthcare at 416 (17%). Add Basic Materials' 363 (14%) and the top four sectors already cover roughly three-quarters of everything we follow.
The tail is thinner than you might expect. Consumer Cyclical carries just 191 names, Financials and Energy 151 each, and Communication Services only 98 — under 4% of the universe despite holding some of the most valuable franchises on any exchange.
Where the household names live
The sample names confirm that coverage reaches well beyond US mega-caps. Technology anchors on Apple, Microsoft, NVIDIA, AMD, Salesforce and Intel. Communication Services is small in count but dense in heavyweights: Alphabet, Meta, Netflix, Disney and Tencent. Consumer Cyclical packs Amazon, Tesla, Home Depot and Alibaba. Financials runs from Berkshire Hathaway and JPMorgan to Visa and Mastercard.
Industrials, Basic Materials and Healthcare are where the breadth really shows — Xiamen Solex, ARCH Meter, China XLX Fert, Galantas Gold and a scatter of Korean, Chinese and Canadian listings sit alongside Honeywell, Johnson & Johnson and UnitedHealth. This is a global, long-tailed universe, not an S&P 500 clone.
A caveat on the market-cap column
Here is where an analyst has to be honest about the data. The reported totalMarketCapM figures do not line up with the company lists. Financials shows roughly $159T across 151 names, and Basic Materials $47T across 363 — both larger than Technology's $23T across 662 names. Meanwhile Consumer Cyclical, home to Amazon and Tesla, reports only about $808B.
Those numbers cannot be taken at face value as sector weight. A likely culprit is visible right in the samples: the same issuer appears multiple times under different tickers — NVO.TO and NVO.AX, GAL.V and GAL.L, TL0.F and TL0.DE, GOOG and GOOGL. Cross-listings inflate both counts and any naive cap aggregate. Until the market-cap column is de-duplicated and FX-normalised, treat sector weight by dollars as unreliable and lean on company counts instead.
What an investor might watch
Three things stand out. First, the Technology concentration means the universe's behaviour will be heavily driven by a handful of semiconductor and software leaders — diversification by name is not diversification by factor. Second, the deep Industrials and Materials benches are where idiosyncratic, globally sourced ideas will come from; that is signal, not noise, if you want names off the beaten path. Third, the data-quality quirk above is the real near-term watch item: any portfolio logic that sizes positions off reported market cap should be audited for duplicate listings before it is trusted. Clean the plumbing first, then let the breadth work for you.