Sector Ticker Audit — August 2026
Monthly review of 24 sectors and 68 tickers against the S&P 500 constituent list.
Generated on: 2026-08-01
← July 2026
August 2026
Executive Summary
This month's audit focuses on tightening thematic fidelity and S&P 500 alignment. I recommend removing two non-S&P / non-fitting names from the Chip Supply Chain, and adding targeted S&P constituents to improve coverage in enterprise software, memory, retail, healthcare, IT services, travel, logistics, industrials, cybersecurity, chip equipment, media, biotech, materials and analog/embedded chips.
Proposals to Add
ORCL
Oracle Corporation
Enterprise Software
High
Enterprise Software targets recurring-revenue SaaS/PaaS and large enterprise platform vendors. Oracle is a major enterprise software and cloud platform provider with significant recurring on-premise-to-cloud transition revenue and enterprise databases/OCI offerings, fitting the sector's thesis.
MU
Micron Technology
Chip Supply Chain
High
Chip Supply Chain calls for semiconductor companies with material AI/data-center exposure. Micron is a leading memory supplier (DRAM/NAND) critical to AI training/inference and data-center capacity — it fills memory exposure lacking in the current roster.
BAC
Bank of America
Finance
Medium
Finance requires systemically important US financial institutions. Bank of America is a top-tier diversified bank and complements JPM and GS to broaden representation of universal banks.
MRK
Merck & Co.
Healthcare
Medium
Healthcare is for diversified large-cap healthcare leaders (excluding pure biotech). Merck is a global pharmaceutical leader with broad commercial franchises, aligning with the sector thesis.
TGT
Target Corporation
Retail
Medium
Retail targets national omnichannel retailers with scale and supply-chain advantages. Target is a major omnichannel retailer with national scale and supply-chain capabilities that complement Walmart and Costco.
CTSH
Cognizant Technology Solutions
IT Services
Medium
IT Services focuses on enterprise IT consulting and managed services. Cognizant is a leading IT outsourcing and consulting provider with revenue primarily from services, matching the sector criteria.
LUV
Southwest Airlines
Airlines
Medium
Airlines requires major US passenger carriers. Southwest is one of the large national carriers and fills out the sector's exposure alongside Delta and United.
HLT
Hilton Worldwide
Hospitality & Travel
Medium
Hospitality & Travel targets hotel operators and travel platforms. Hilton is a global hotel operator/brand with revenue tied directly to accommodations and loyalty-driven demand, fitting the sector thesis.
YUM
Yum! Brands
Food & Restaurant
Low
Food & Restaurant targets large franchise-heavy restaurant operators. Yum! Brands is a global franchisor (KFC, Taco Bell, Pizza Hut), matching the franchise-focused criteria and broadening category exposure.
EXPD
Expeditors International
Logistics
Medium
Logistics requires national/global logistics networks beyond trucking-only. Expeditors is a global air/sea logistics integrator with enterprise-grade freight management, fitting the sector thesis.
DE
Deere & Company
Industrial
Medium
Industrial is for diversified industrial manufacturers with global manufacturing operations. Deere is a globally diversified heavy-equipment and automation leader, consistent with the sector criteria.
FTNT
Fortinet
Cybersecurity
Medium
Cybersecurity requires pure-play security vendors where security is the primary business. Fortinet's revenue is primarily cybersecurity products and services protecting networks and cloud workloads, expanding vendor coverage in the sector.
KLAC
KLA Corporation
Chip Equipment
Medium
Chip Equipment is for semiconductor capital equipment makers. KLA is a leading process-control and inspection equipment manufacturer essential to semiconductor fabs and fits the sector's capital-equipment focus.
WBD
Warner Bros. Discovery
Media & Entertainment
Low
Media & Entertainment targets content creation and distribution companies. Warner Bros. Discovery is a major studio and streaming/content company, broadening content-provider coverage alongside Netflix and Disney.
REGN
Regeneron Pharmaceuticals
Biotech
Medium
Biotech is for pipeline-driven pure biotechnology companies. Regeneron is a biotechnology company with a deep R&D pipeline and biologics focus, matching the biotech sector thesis.
SHW
Sherwin-Williams
Materials
Medium
Materials covers specialty chemicals and industrial materials with pricing power. Sherwin-Williams is a leading specialty coatings and chemicals company with global reach, matching the sector criteria.
ON
ON Semiconductor
Analog & Embedded Chips
Medium
Analog & Embedded Chips requires companies whose revenue derives from automotive, industrial and IoT embedded markets. ON Semiconductor focuses on power/analog and automotive/industrial sensors, aligning with this thesis.
Proposals to Remove
ARM
Chip Supply Chain
High
ARM (as listed) is not an S&P 500 constituent in the provided universe and the site's Chip Supply Chain is intended to track pure-play semiconductor designers / manufacturers present in the US large-cap universe. ARM's listing/status here reduces S&P alignment and the holding should be removed to preserve thematic and index consistency.
TSM
Chip Supply Chain
High
TSMC (TSM) is a critical foundry but is not a constituent in the provided S&P 500 list. The site's Chip Supply Chain focuses on S&P constituents / US large-cap representation — removing TSM brings the sector into closer alignment with the S&P list and the rule to keep sector rosters to 2–5 tickers.
Sector Health Assessment
Mag 7 (AI Spenders)
7 tickers
S&P 500 Overlap: 7
Fixed canonical Magnificent 7 cluster; no changes permitted.
Chip Supply Chain
5 tickers
S&P 500 Overlap: 5
Reduced to a focused 5-name roster of S&P-listed chip designers/IDMs (maintains exposure to compute, comms, and AI-relevant silicon).
Infrastructure
5 tickers
S&P 500 Overlap: 5
Roster remains at five focused hardware/system vendors tied to data-centers and enterprise infrastructure; adequate coverage.
Enterprise Software
5 tickers
S&P 500 Overlap: 5
Adding Oracle brings the sector to a full 5-name roster covering major enterprise SaaS/PaaS and analytics platforms.
Finance
3 tickers
S&P 500 Overlap: 3
Expanded to better represent systemically important universal banks; remains focused and within the 2–5 target.
Healthcare
3 tickers
S&P 500 Overlap: 3
Adds a large-cap pharmaceuticals representative to diversify managed care and novel pharma exposure.
Retail
3 tickers
S&P 500 Overlap: 3
Broader omnichannel representation with Target added; stays focused on national-scale retailers.
IT Services
3 tickers
S&P 500 Overlap: 3
Adding Cognizant improves coverage of IT consulting and outsourcing within the 2–5 preferred range.
Airlines
3 tickers
S&P 500 Overlap: 3
Includes the three large national carriers for balanced passenger-airline exposure.
Hospitality & Travel
3 tickers
S&P 500 Overlap: 3
Adding Hilton broadens hotel/operator coverage while staying focused on travel/accommodation revenue exposure.
Food & Restaurant
3 tickers
S&P 500 Overlap: 3
Yum! Brands augments franchise-heavy restaurant exposure; sector remains concentrated.
Logistics
3 tickers
S&P 500 Overlap: 3
Expeditors complements parcel integrators and global freight networks; maintains focused coverage.
Industrial
3 tickers
S&P 500 Overlap: 3
Deere adds a major global machinery/manufacturer to complement the existing industrial exposure.
Cybersecurity
4 tickers
S&P 500 Overlap: 4
Fortinet expands pure-play cybersecurity coverage while remaining within the 2–5 target range.
Chip Equipment
4 tickers
S&P 500 Overlap: 4
Adding KLA improves coverage of process-control and inspection equipment in semiconductor capital goods.
Data Center REITs
2 tickers
S&P 500 Overlap: 2
Equinix and Digital Realty remain the clear leaders; no suitable additional S&P-listed data-center REITs available — sector remains tight but appropriate.
Utilities
3 tickers
S&P 500 Overlap: 3
Three regulated electric utilities present adequate coverage of regulated and clean-energy exposures.
Energy
2 tickers
S&P 500 Overlap: 2
Maintains focus on supermajors; no change since the thesis is specific to integrated oil & gas leaders.
Defense & Aerospace
3 tickers
S&P 500 Overlap: 3
Three major defense primes provide concentrated exposure to defense contracting.
Telecom
3 tickers
S&P 500 Overlap: 3
Three national carriers retained; sector matches the thesis.
Media & Entertainment
3 tickers
S&P 500 Overlap: 3
Adding Warner Bros. Discovery gives the sector broader studio/streaming representation while remaining focused.
Biotech
3 tickers
S&P 500 Overlap: 3
Regeneron adds pipeline-driven biotech exposure alongside the existing large biotech names, keeping the sector pure-biotech focused.
Materials
3 tickers
S&P 500 Overlap: 3
Sherwin-Williams complements industrial gas and specialty chemicals exposure and keeps the sector within the 2–5 target.
Analog & Embedded Chips
3 tickers
S&P 500 Overlap: 3
Adding ON Semiconductor strengthens automotive/industrial analog and embedded exposure consistent with the thesis.
Stale Ticker Warnings
All tickers have recent price data.
Current Coverage
| Sector | Tickers | Symbols |
|---|---|---|
| Mag 7 (AI Spenders) Fixed | 7 | AAPL, MSFT, GOOG, AMZN, NVDA, META, TSLA |
| Chip Supply Chain | 7 | AMD, AVGO, TSM, MRVL, ARM, QCOM, INTC |
| Infrastructure | 5 | DELL, SMCI, VRT, HPE, CSCO |
| Enterprise Software | 4 | CRM, NOW, ADBE, PLTR |
| Finance | 2 | JPM, GS |
| Healthcare | 2 | UNH, LLY |
| Retail | 2 | WMT, COST |
| IT Services | 2 | ACN, IBM |
| Airlines | 2 | DAL, UAL |
| Hospitality & Travel | 2 | MAR, BKNG |
| Food & Restaurant | 2 | MCD, SBUX |
| Logistics | 2 | UPS, FDX |
| Industrial | 2 | CAT, HON |
| Cybersecurity | 3 | CRWD, PANW, ZS |
| Chip Equipment | 3 | ASML, LRCX, AMAT |
| Data Center REITs | 2 | EQIX, DLR |
| Utilities | 3 | NEE, SO, DUK |
| Energy | 2 | XOM, CVX |
| Defense & Aerospace | 3 | LMT, RTX, GD |
| Telecom | 3 | VZ, T, TMUS |
| Media & Entertainment | 2 | NFLX, DIS |
| Biotech | 2 | AMGN, GILD |
| Materials | 2 | LIN, APD |
| Analog & Embedded Chips | 2 | MCHP, TXN |
S&P 500 Reference Table
Show full S&P 500 list (503)
| Ticker | Company | GICS Sector | Sub-Industry | Tracked |
|---|---|---|---|---|
| A | Agilent Technologies | Health Care | Life Sciences Tools & Services | No |
| AAPL | Apple Inc. | Information Technology | Technology Hardware, Storage & Peripherals | Yes |
| ABBV | AbbVie | Health Care | Biotechnology | No |
| ABNB | Airbnb | Consumer Discretionary | Hotels, Resorts & Cruise Lines | No |
| ABT | Abbott Laboratories | Health Care | Health Care Equipment | No |
| ACGL | Arch Capital Group | Financials | Property & Casualty Insurance | No |
| ACN | Accenture | Information Technology | IT Consulting & Other Services | Yes |
| ADBE | Adobe Inc. | Information Technology | Application Software | Yes |
| ADI | Analog Devices | Information Technology | Semiconductors | No |
| ADM | Archer Daniels Midland | Consumer Staples | Agricultural Products & Services | No |
| ADP | Automatic Data Processing | Industrials | Human Resource & Employment Services | No |
| ADSK | Autodesk | Information Technology | Application Software | No |
| AEE | Ameren | Utilities | Multi-Utilities | No |
| AEP | American Electric Power | Utilities | Electric Utilities | No |
| AES | AES Corporation | Utilities | Independent Power Producers & Energy Traders | No |
| AFL | Aflac | Financials | Life & Health Insurance | No |
| AIG | American International Group | Financials | Multi-line Insurance | No |
| AIZ | Assurant | Financials | Multi-line Insurance | No |
| AJG | Arthur J. Gallagher & Co. | Financials | Insurance Brokers | No |
| AKAM | Akamai Technologies | Information Technology | Internet Services & Infrastructure | No |
| ALB | Albemarle Corporation | Materials | Specialty Chemicals | No |
| ALGN | Align Technology | Health Care | Health Care Supplies | No |
| ALL | Allstate | Financials | Property & Casualty Insurance | No |
| ALLE | Allegion | Industrials | Building Products | No |
| AMAT | Applied Materials | Information Technology | Semiconductor Materials & Equipment | Yes |
| AMCR | Amcor | Materials | Paper & Plastic Packaging Products & Materials | No |
| AMD | Advanced Micro Devices | Information Technology | Semiconductors | Yes |
| AME | Ametek | Industrials | Electrical Components & Equipment | No |
| AMGN | Amgen | Health Care | Biotechnology | Yes |
| AMP | Ameriprise Financial | Financials | Asset Management & Custody Banks | No |
| AMT | American Tower | Real Estate | Telecom Tower REITs | No |
| AMZN | Amazon | Consumer Discretionary | Broadline Retail | Yes |
| ANET | Arista Networks | Information Technology | Communications Equipment | No |
| AON | Aon plc | Financials | Insurance Brokers | No |
| AOS | A. O. Smith | Industrials | Building Products | No |
| APA | APA Corporation | Energy | Oil & Gas Exploration & Production | No |
| APD | Air Products | Materials | Industrial Gases | Yes |
| APH | Amphenol | Information Technology | Electronic Components | No |
| APO | Apollo Global Management | Financials | Asset Management & Custody Banks | No |
| APP | AppLovin | Information Technology | Application Software | No |
| APTV | Aptiv | Consumer Discretionary | Automotive Parts & Equipment | No |
| ARE | Alexandria Real Estate Equities | Real Estate | Office REITs | No |
| ARES | Ares Management | Financials | Asset Management & Custody Banks | No |
| ATO | Atmos Energy | Utilities | Gas Utilities | No |
| AVB | AvalonBay Communities | Real Estate | Multi-Family Residential REITs | No |
| AVGO | Broadcom | Information Technology | Semiconductors | Yes |
| AVY | Avery Dennison | Materials | Paper & Plastic Packaging Products & Materials | No |
| AWK | American Water Works | Utilities | Water Utilities | No |
| AXON | Axon Enterprise | Industrials | Aerospace & Defense | No |
| AXP | American Express | Financials | Consumer Finance | No |
| AZO | AutoZone | Consumer Discretionary | Automotive Retail | No |
| BA | Boeing | Industrials | Aerospace & Defense | No |
| BAC | Bank of America | Financials | Diversified Banks | No |
| BALL | Ball Corporation | Materials | Metal, Glass & Plastic Containers | No |
| BAX | Baxter International | Health Care | Health Care Equipment | No |
| BBY | Best Buy | Consumer Discretionary | Computer & Electronics Retail | No |
| BDX | Becton Dickinson | Health Care | Health Care Equipment | No |
| BEN | Franklin Resources | Financials | Asset Management & Custody Banks | No |
| BF-B | Brown–Forman | Consumer Staples | Distillers & Vintners | No |
| BG | Bunge Global | Consumer Staples | Agricultural Products & Services | No |
| BIIB | Biogen | Health Care | Biotechnology | No |
| BKNG | Booking Holdings | Consumer Discretionary | Hotels, Resorts & Cruise Lines | Yes |
| BKR | Baker Hughes | Energy | Oil & Gas Equipment & Services | No |
| BLDR | Builders FirstSource | Industrials | Building Products | No |
| BLK | BlackRock | Financials | Asset Management & Custody Banks | No |
| BMY | Bristol Myers Squibb | Health Care | Pharmaceuticals | No |
| BNY | BNY Mellon | Financials | Asset Management & Custody Banks | No |
| BR | Broadridge Financial Solutions | Industrials | Data Processing & Outsourced Services | No |
| BRK-B | Berkshire Hathaway | Financials | Multi-Sector Holdings | No |
| BRO | Brown & Brown | Financials | Insurance Brokers | No |
| BSX | Boston Scientific | Health Care | Health Care Equipment | No |
| BX | Blackstone Inc. | Financials | Asset Management & Custody Banks | No |
| BXP | BXP, Inc. | Real Estate | Office REITs | No |
| C | Citigroup | Financials | Diversified Banks | No |
| CAH | Cardinal Health | Health Care | Health Care Distributors | No |
| CARR | Carrier Global | Industrials | Building Products | No |
| CASY | Casey's | Consumer Staples | Food Retail | No |
| CAT | Caterpillar Inc. | Industrials | Construction Machinery & Heavy Transportation Equipment | Yes |
| CB | Chubb Limited | Financials | Property & Casualty Insurance | No |
| CBOE | Cboe Global Markets | Financials | Financial Exchanges & Data | No |
| CBRE | CBRE Group | Real Estate | Real Estate Services | No |
| CCI | Crown Castle | Real Estate | Telecom Tower REITs | No |
| CCL | Carnival Corporation | Consumer Discretionary | Hotels, Resorts & Cruise Lines | No |
| CDNS | Cadence Design Systems | Information Technology | Application Software | No |
| CDW | CDW Corporation | Information Technology | Technology Distributors | No |
| CEG | Constellation Energy | Utilities | Electric Utilities | No |
| CF | CF Industries | Materials | Fertilizers & Agricultural Chemicals | No |
| CFG | Citizens Financial Group | Financials | Regional Banks | No |
| CHD | Church & Dwight | Consumer Staples | Household Products | No |
| CHRW | C.H. Robinson | Industrials | Air Freight & Logistics | No |
| CHTR | Charter Communications | Communication Services | Cable & Satellite | No |
| CI | Cigna | Health Care | Health Care Services | No |
| CIEN | Ciena | Information Technology | Communications Equipment | No |
| CINF | Cincinnati Financial | Financials | Property & Casualty Insurance | No |
| CL | Colgate-Palmolive | Consumer Staples | Household Products | No |
| CLX | Clorox | Consumer Staples | Household Products | No |
| CMCSA | Comcast | Communication Services | Cable & Satellite | No |
| CME | CME Group | Financials | Financial Exchanges & Data | No |
| CMG | Chipotle Mexican Grill | Consumer Discretionary | Restaurants | No |
| CMI | Cummins | Industrials | Construction Machinery & Heavy Transportation Equipment | No |
| CMS | CMS Energy | Utilities | Multi-Utilities | No |
| CNC | Centene Corporation | Health Care | Managed Health Care | No |
| CNP | CenterPoint Energy | Utilities | Multi-Utilities | No |
| COF | Capital One | Financials | Consumer Finance | No |
| COHR | Coherent Corp. | Information Technology | Electronic Components | No |
| COIN | Coinbase | Financials | Financial Exchanges & Data | No |
| COO | Cooper Companies (The) | Health Care | Health Care Supplies | No |
| COP | ConocoPhillips | Energy | Oil & Gas Exploration & Production | No |
| COR | Cencora | Health Care | Health Care Distributors | No |
| COST | Costco | Consumer Staples | Consumer Staples Merchandise Retail | Yes |
| CPAY | Corpay | Financials | Transaction & Payment Processing Services | No |
| CPRT | Copart | Industrials | Diversified Support Services | No |
| CPT | Camden Property Trust | Real Estate | Multi-Family Residential REITs | No |
| CRH | CRH plc | Materials | Construction Materials | No |
| CRL | Charles River Laboratories | Health Care | Life Sciences Tools & Services | No |
| CRM | Salesforce | Information Technology | Application Software | Yes |
| CRWD | CrowdStrike | Information Technology | Systems Software | Yes |
| CSCO | Cisco | Information Technology | Communications Equipment | Yes |
| CSGP | CoStar Group | Real Estate | Real Estate Services | No |
| CSX | CSX Corporation | Industrials | Rail Transportation | No |
| CTAS | Cintas | Industrials | Diversified Support Services | No |
| CTSH | Cognizant | Information Technology | IT Consulting & Other Services | No |
| CTVA | Corteva | Materials | Fertilizers & Agricultural Chemicals | No |
| CVNA | Carvana | Consumer Discretionary | Automotive Retail | No |
| CVS | CVS Health | Health Care | Health Care Services | No |
| CVX | Chevron Corporation | Energy | Integrated Oil & Gas | Yes |
| D | Dominion Energy | Utilities | Multi-Utilities | No |
| DAL | Delta Air Lines | Industrials | Passenger Airlines | Yes |
| DASH | DoorDash | Consumer Discretionary | Specialized Consumer Services | No |
| DD | DuPont | Materials | Specialty Chemicals | No |
| DDOG | Datadog | Information Technology | Application Software | No |
| DE | Deere & Company | Industrials | Agricultural & Farm Machinery | No |
| DECK | Deckers Brands | Consumer Discretionary | Footwear | No |
| DELL | Dell Technologies | Information Technology | Technology Hardware, Storage & Peripherals | Yes |
| DG | Dollar General | Consumer Staples | Consumer Staples Merchandise Retail | No |
| DGX | Quest Diagnostics | Health Care | Health Care Services | No |
| DHI | D. R. Horton | Consumer Discretionary | Homebuilding | No |
| DHR | Danaher Corporation | Health Care | Life Sciences Tools & Services | No |
| DIS | Walt Disney Company (The) | Communication Services | Movies & Entertainment | Yes |
| DLR | Digital Realty | Real Estate | Data Center REITs | Yes |
| DLTR | Dollar Tree | Consumer Staples | Consumer Staples Merchandise Retail | No |
| DOC | Healthpeak Properties | Real Estate | Health Care REITs | No |
| DOV | Dover Corporation | Industrials | Industrial Machinery & Supplies & Components | No |
| DOW | Dow Inc. | Materials | Commodity Chemicals | No |
| DPZ | Domino's | Consumer Discretionary | Restaurants | No |
| DRI | Darden Restaurants | Consumer Discretionary | Restaurants | No |
| DTE | DTE Energy | Utilities | Multi-Utilities | No |
| DUK | Duke Energy | Utilities | Electric Utilities | Yes |
| DVA | DaVita | Health Care | Health Care Services | No |
| DVN | Devon Energy | Energy | Oil & Gas Exploration & Production | No |
| DXCM | Dexcom | Health Care | Health Care Equipment | No |
| EA | Electronic Arts | Communication Services | Interactive Home Entertainment | No |
| EBAY | eBay Inc. | Consumer Discretionary | Broadline Retail | No |
| ECHO | EchoStar | Communication Services | Wireless Telecommunication Services | No |
| ECL | Ecolab | Materials | Specialty Chemicals | No |
| ED | Consolidated Edison | Utilities | Multi-Utilities | No |
| EFX | Equifax | Industrials | Research & Consulting Services | No |
| EG | Everest Group | Financials | Reinsurance | No |
| EIX | Edison International | Utilities | Electric Utilities | No |
| EL | Estée Lauder Companies (The) | Consumer Staples | Personal Care Products | No |
| ELV | Elevance Health | Health Care | Managed Health Care | No |
| EME | Emcor | Industrials | Construction & Engineering | No |
| EMR | Emerson Electric | Industrials | Electrical Components & Equipment | No |
| EOG | EOG Resources | Energy | Oil & Gas Exploration & Production | No |
| EQIX | Equinix | Real Estate | Data Center REITs | Yes |
| EQR | Equity Residential | Real Estate | Multi-Family Residential REITs | No |
| EQT | EQT Corporation | Energy | Oil & Gas Exploration & Production | No |
| ERIE | Erie Indemnity | Financials | Insurance Brokers | No |
| ES | Eversource Energy | Utilities | Electric Utilities | No |
| ESS | Essex Property Trust | Real Estate | Multi-Family Residential REITs | No |
| ETN | Eaton Corporation | Industrials | Electrical Components & Equipment | No |
| ETR | Entergy | Utilities | Electric Utilities | No |
| EVRG | Evergy | Utilities | Electric Utilities | No |
| EW | Edwards Lifesciences | Health Care | Health Care Equipment | No |
| EXC | Exelon | Utilities | Electric Utilities | No |
| EXE | Expand Energy | Energy | Oil & Gas Exploration & Production | No |
| EXPD | Expeditors International | Industrials | Air Freight & Logistics | No |
| EXPE | Expedia Group | Consumer Discretionary | Hotels, Resorts & Cruise Lines | No |
| EXR | Extra Space Storage | Real Estate | Self-Storage REITs | No |
| F | Ford Motor Company | Consumer Discretionary | Automobile Manufacturers | No |
| FANG | Diamondback Energy | Energy | Oil & Gas Exploration & Production | No |
| FAST | Fastenal | Industrials | Trading Companies & Distributors | No |
| FCX | Freeport-McMoRan | Materials | Copper | No |
| FDS | FactSet | Financials | Financial Exchanges & Data | No |
| FDX | FedEx | Industrials | Air Freight & Logistics | Yes |
| FDXF | FedEx Freight | Industrials | Cargo Ground Transportation | No |
| FE | FirstEnergy | Utilities | Electric Utilities | No |
| FFIV | F5, Inc. | Information Technology | Communications Equipment | No |
| FICO | Fair Isaac | Information Technology | Application Software | No |
| FIS | Fidelity National Information Services | Financials | Transaction & Payment Processing Services | No |
| FISV | Fiserv | Financials | Transaction & Payment Processing Services | No |
| FITB | Fifth Third Bancorp | Financials | Regional Banks | No |
| FIX | Comfort Systems USA | Industrials | Construction & Engineering | No |
| FLEX | Flex Ltd. | Information Technology | Electronic Manufacturing Services | No |
| FOX | Fox Corporation(Class B) | Communication Services | Broadcasting | No |
| FOXA | Fox Corporation(Class A) | Communication Services | Broadcasting | No |
| FRT | Federal Realty Investment Trust | Real Estate | Retail REITs | No |
| FSLR | First Solar | Information Technology | Semiconductors | No |
| FTNT | Fortinet | Information Technology | Systems Software | No |
| FTV | Fortive | Industrials | Industrial Machinery & Supplies & Components | No |
| GD | General Dynamics | Industrials | Aerospace & Defense | Yes |
| GDDY | GoDaddy | Information Technology | Internet Services & Infrastructure | No |
| GE | GE Aerospace | Industrials | Aerospace & Defense | No |
| GEHC | GE HealthCare | Health Care | Health Care Equipment | No |
| GEN | Gen Digital | Information Technology | Systems Software | No |
| GEV | GE Vernova | Industrials | Heavy Electrical Equipment | No |
| GILD | Gilead Sciences | Health Care | Biotechnology | Yes |
| GIS | General Mills | Consumer Staples | Packaged Foods & Meats | No |
| GL | Globe Life | Financials | Life & Health Insurance | No |
| GLW | Corning Inc. | Information Technology | Electronic Components | No |
| GM | General Motors | Consumer Discretionary | Automobile Manufacturers | No |
| GNRC | Generac | Industrials | Heavy Electrical Equipment | No |
| GOOG | Alphabet Inc.(Class C) | Communication Services | Interactive Media & Services | Yes |
| GOOGL | Alphabet Inc.(Class A) | Communication Services | Interactive Media & Services | No |
| GPC | Genuine Parts Company | Consumer Discretionary | Distributors | No |
| GPN | Global Payments | Financials | Transaction & Payment Processing Services | No |
| GRMN | Garmin | Consumer Discretionary | Consumer Electronics | No |
| GS | Goldman Sachs | Financials | Investment Banking & Brokerage | Yes |
| GWW | W. W. Grainger | Industrials | Industrial Machinery & Supplies & Components | No |
| HAL | Halliburton | Energy | Oil & Gas Equipment & Services | No |
| HAS | Hasbro | Consumer Discretionary | Leisure Products | No |
| HBAN | Huntington Bancshares | Financials | Regional Banks | No |
| HCA | HCA Healthcare | Health Care | Health Care Facilities | No |
| HD | Home Depot (The) | Consumer Discretionary | Home Improvement Retail | No |
| HIG | Hartford (The) | Financials | Property & Casualty Insurance | No |
| HII | Huntington Ingalls Industries | Industrials | Aerospace & Defense | No |
| HLT | Hilton Worldwide | Consumer Discretionary | Hotels, Resorts & Cruise Lines | No |
| HON | Honeywell Technologies | Industrials | Industrial Conglomerates | Yes |
| HONA | Honeywell Aerospace | Industrials | Aerospace & Defense | No |
| HOOD | Robinhood Markets | Financials | Investment Banking & Brokerage | No |
| HPE | Hewlett Packard Enterprise | Information Technology | Technology Hardware, Storage & Peripherals | Yes |
| HPQ | HP Inc. | Information Technology | Technology Hardware, Storage & Peripherals | No |
| HRL | Hormel Foods | Consumer Staples | Packaged Foods & Meats | No |
| HSIC | Henry Schein | Health Care | Health Care Distributors | No |
| HST | Host Hotels & Resorts | Real Estate | Hotel & Resort REITs | No |
| HSY | Hershey Company (The) | Consumer Staples | Packaged Foods & Meats | No |
| HUBB | Hubbell Incorporated | Industrials | Industrial Machinery & Supplies & Components | No |
| HUM | Humana | Health Care | Managed Health Care | No |
| HWM | Howmet Aerospace | Industrials | Aerospace & Defense | No |
| IBKR | Interactive Brokers | Financials | Investment Banking & Brokerage | No |
| IBM | IBM | Information Technology | IT Consulting & Other Services | Yes |
| ICE | Intercontinental Exchange | Financials | Financial Exchanges & Data | No |
| IDXX | Idexx Laboratories | Health Care | Health Care Equipment | No |
| IEX | IDEX Corporation | Industrials | Industrial Machinery & Supplies & Components | No |
| IFF | International Flavors & Fragrances | Materials | Specialty Chemicals | No |
| INCY | Incyte | Health Care | Biotechnology | No |
| INTC | Intel | Information Technology | Semiconductors | Yes |
| INTU | Intuit | Information Technology | Application Software | No |
| INVH | Invitation Homes | Real Estate | Single-Family Residential REITs | No |
| IP | International Paper | Materials | Paper & Plastic Packaging Products & Materials | No |
| IQV | IQVIA | Health Care | Life Sciences Tools & Services | No |
| IR | Ingersoll Rand | Industrials | Industrial Machinery & Supplies & Components | No |
| IRM | Iron Mountain | Real Estate | Other Specialized REITs | No |
| ISRG | Intuitive Surgical | Health Care | Health Care Equipment | No |
| IT | Gartner | Information Technology | IT Consulting & Other Services | No |
| ITW | Illinois Tool Works | Industrials | Industrial Machinery & Supplies & Components | No |
| IVZ | Invesco | Financials | Asset Management & Custody Banks | No |
| J | Jacobs Solutions | Industrials | Construction & Engineering | No |
| JBHT | J.B. Hunt | Industrials | Cargo Ground Transportation | No |
| JBL | Jabil | Information Technology | Electronic Manufacturing Services | No |
| JCI | Johnson Controls | Industrials | Building Products | No |
| JKHY | Jack Henry & Associates | Financials | Transaction & Payment Processing Services | No |
| JNJ | Johnson & Johnson | Health Care | Pharmaceuticals | No |
| JPM | JPMorgan Chase | Financials | Diversified Banks | Yes |
| KDP | Keurig Dr Pepper | Consumer Staples | Soft Drinks & Non-alcoholic Beverages | No |
| KEY | KeyCorp | Financials | Regional Banks | No |
| KEYS | Keysight Technologies | Information Technology | Electronic Equipment & Instruments | No |
| KHC | Kraft Heinz | Consumer Staples | Packaged Foods & Meats | No |
| KIM | Kimco Realty | Real Estate | Retail REITs | No |
| KKR | KKR & Co. | Financials | Asset Management & Custody Banks | No |
| KLAC | KLA Corporation | Information Technology | Semiconductor Materials & Equipment | No |
| KMB | Kimberly-Clark | Consumer Staples | Household Products | No |
| KMI | Kinder Morgan | Energy | Oil & Gas Storage & Transportation | No |
| KO | Coca-Cola Company (The) | Consumer Staples | Soft Drinks & Non-alcoholic Beverages | No |
| KR | Kroger | Consumer Staples | Food Retail | No |
| KVUE | Kenvue | Consumer Staples | Personal Care Products | No |
| L | Loews Corporation | Financials | Multi-line Insurance | No |
| LDOS | Leidos | Industrials | Diversified Support Services | No |
| LEN | Lennar | Consumer Discretionary | Homebuilding | No |
| LH | Labcorp | Health Care | Health Care Services | No |
| LHX | L3Harris | Industrials | Aerospace & Defense | No |
| LII | Lennox International | Industrials | Building Products | No |
| LIN | Linde plc | Materials | Industrial Gases | Yes |
| LITE | Lumentum | Information Technology | Communications Equipment | No |
| LLY | Lilly (Eli) | Health Care | Pharmaceuticals | Yes |
| LMT | Lockheed Martin | Industrials | Aerospace & Defense | Yes |
| LNT | Alliant Energy | Utilities | Electric Utilities | No |
| LOW | Lowe's | Consumer Discretionary | Home Improvement Retail | No |
| LRCX | Lam Research | Information Technology | Semiconductor Materials & Equipment | Yes |
| LULU | Lululemon Athletica | Consumer Discretionary | Apparel, Accessories & Luxury Goods | No |
| LUV | Southwest Airlines | Industrials | Passenger Airlines | No |
| LVS | Las Vegas Sands | Consumer Discretionary | Casinos & Gaming | No |
| LYB | LyondellBasell | Materials | Specialty Chemicals | No |
| LYV | Live Nation Entertainment | Communication Services | Movies & Entertainment | No |
| MA | Mastercard | Financials | Transaction & Payment Processing Services | No |
| MAA | Mid-America Apartment Communities | Real Estate | Multi-Family Residential REITs | No |
| MAR | Marriott International | Consumer Discretionary | Hotels, Resorts & Cruise Lines | Yes |
| MAS | Masco | Industrials | Building Products | No |
| MCD | McDonald's | Consumer Discretionary | Restaurants | Yes |
| MCHP | Microchip Technology | Information Technology | Semiconductors | Yes |
| MCK | McKesson Corporation | Health Care | Health Care Distributors | No |
| MCO | Moody's Corporation | Financials | Financial Exchanges & Data | No |
| MDLZ | Mondelez International | Consumer Staples | Packaged Foods & Meats | No |
| MDT | Medtronic | Health Care | Health Care Equipment | No |
| MET | MetLife | Financials | Life & Health Insurance | No |
| META | Meta Platforms | Communication Services | Interactive Media & Services | Yes |
| MGM | MGM Resorts | Consumer Discretionary | Casinos & Gaming | No |
| MKC | McCormick & Company | Consumer Staples | Packaged Foods & Meats | No |
| MLM | Martin Marietta Materials | Materials | Construction Materials | No |
| MMM | 3M | Industrials | Industrial Conglomerates | No |
| MNST | Monster Beverage | Consumer Staples | Soft Drinks & Non-alcoholic Beverages | No |
| MO | Altria | Consumer Staples | Tobacco | No |
| MOS | Mosaic Company (The) | Materials | Fertilizers & Agricultural Chemicals | No |
| MPC | Marathon Petroleum | Energy | Oil & Gas Refining & Marketing | No |
| MPWR | Monolithic Power Systems | Information Technology | Semiconductors | No |
| MRK | Merck & Co. | Health Care | Pharmaceuticals | No |
| MRNA | Moderna | Health Care | Biotechnology | No |
| MRSH | Marsh McLennan | Financials | Insurance Brokers | No |
| MRVL | Marvell Technology | Information Technology | Semiconductors | Yes |
| MS | Morgan Stanley | Financials | Investment Banking & Brokerage | No |
| MSCI | MSCI Inc. | Financials | Financial Exchanges & Data | No |
| MSFT | Microsoft | Information Technology | Systems Software | Yes |
| MSI | Motorola Solutions | Information Technology | Communications Equipment | No |
| MTB | M&T Bank | Financials | Regional Banks | No |
| MTD | Mettler Toledo | Health Care | Life Sciences Tools & Services | No |
| MU | Micron Technology | Information Technology | Semiconductors | No |
| NCLH | Norwegian Cruise Line Holdings | Consumer Discretionary | Hotels, Resorts & Cruise Lines | No |
| NDAQ | Nasdaq, Inc. | Financials | Financial Exchanges & Data | No |
| NDSN | Nordson Corporation | Industrials | Industrial Machinery & Supplies & Components | No |
| NEE | NextEra Energy | Utilities | Multi-Utilities | Yes |
| NEM | Newmont | Materials | Gold | No |
| NFLX | Netflix | Communication Services | Movies & Entertainment | Yes |
| NI | NiSource | Utilities | Multi-Utilities | No |
| NKE | Nike, Inc. | Consumer Discretionary | Apparel, Accessories & Luxury Goods | No |
| NOC | Northrop Grumman | Industrials | Aerospace & Defense | No |
| NOW | ServiceNow | Information Technology | Systems Software | Yes |
| NRG | NRG Energy | Utilities | Independent Power Producers & Energy Traders | No |
| NSC | Norfolk Southern | Industrials | Rail Transportation | No |
| NTAP | NetApp | Information Technology | Technology Hardware, Storage & Peripherals | No |
| NTRS | Northern Trust | Financials | Asset Management & Custody Banks | No |
| NUE | Nucor | Materials | Steel | No |
| NVDA | Nvidia | Information Technology | Semiconductors | Yes |
| NVR | NVR, Inc. | Consumer Discretionary | Homebuilding | No |
| NWS | News Corp(Class B) | Communication Services | Publishing | No |
| NWSA | News Corp(Class A) | Communication Services | Publishing | No |
| NXPI | NXP Semiconductors | Information Technology | Semiconductors | No |
| O | Realty Income | Real Estate | Retail REITs | No |
| ODFL | Old Dominion | Industrials | Cargo Ground Transportation | No |
| OKE | Oneok | Energy | Oil & Gas Storage & Transportation | No |
| OMC | Omnicom Group | Communication Services | Advertising | No |
| ON | ON Semiconductor | Information Technology | Semiconductors | No |
| ORCL | Oracle Corporation | Information Technology | Application Software | No |
| ORLY | O’Reilly Automotive | Consumer Discretionary | Automotive Retail | No |
| OTIS | Otis Worldwide | Industrials | Industrial Machinery & Supplies & Components | No |
| OXY | Occidental Petroleum | Energy | Oil & Gas Exploration & Production | No |
| PANW | Palo Alto Networks | Information Technology | Systems Software | Yes |
| PAYX | Paychex | Industrials | Human Resource & Employment Services | No |
| PCAR | Paccar | Industrials | Construction Machinery & Heavy Transportation Equipment | No |
| PCG | PG&E Corporation | Utilities | Multi-Utilities | No |
| PEG | Public Service Enterprise Group | Utilities | Electric Utilities | No |
| PEP | PepsiCo | Consumer Staples | Soft Drinks & Non-alcoholic Beverages | No |
| PFE | Pfizer | Health Care | Pharmaceuticals | No |
| PFG | Principal Financial Group | Financials | Life & Health Insurance | No |
| PG | Procter & Gamble | Consumer Staples | Personal Care Products | No |
| PGR | Progressive Corporation | Financials | Property & Casualty Insurance | No |
| PH | Parker Hannifin | Industrials | Industrial Machinery & Supplies & Components | No |
| PHM | PulteGroup | Consumer Discretionary | Homebuilding | No |
| PKG | Packaging Corporation of America | Materials | Paper & Plastic Packaging Products & Materials | No |
| PLD | Prologis | Real Estate | Industrial REITs | No |
| PLTR | Palantir Technologies | Information Technology | Application Software | Yes |
| PM | Philip Morris International | Consumer Staples | Tobacco | No |
| PNC | PNC Financial Services | Financials | Diversified Banks | No |
| PNR | Pentair | Industrials | Industrial Machinery & Supplies & Components | No |
| PNW | Pinnacle West Capital | Utilities | Multi-Utilities | No |
| PODD | Insulet Corporation | Health Care | Health Care Equipment | No |
| PPG | PPG Industries | Materials | Specialty Chemicals | No |
| PPL | PPL Corporation | Utilities | Electric Utilities | No |
| PRU | Prudential Financial | Financials | Life & Health Insurance | No |
| PSA | Public Storage | Real Estate | Self-Storage REITs | No |
| PSKY | Paramount Skydance Corporation | Communication Services | Movies & Entertainment | No |
| PSX | Phillips 66 | Energy | Oil & Gas Refining & Marketing | No |
| PTC | PTC Inc. | Information Technology | Application Software | No |
| PWR | Quanta Services | Industrials | Construction & Engineering | No |
| PYPL | PayPal | Financials | Transaction & Payment Processing Services | No |
| Q | Qnity Electronics | Information Technology | Semiconductor Materials & Equipment | No |
| QCOM | Qualcomm | Information Technology | Semiconductors | Yes |
| RCL | Royal Caribbean Group | Consumer Discretionary | Hotels, Resorts & Cruise Lines | No |
| REG | Regency Centers | Real Estate | Retail REITs | No |
| REGN | Regeneron Pharmaceuticals | Health Care | Biotechnology | No |
| RF | Regions Financial Corporation | Financials | Regional Banks | No |
| RJF | Raymond James Financial | Financials | Investment Banking & Brokerage | No |
| RL | Ralph Lauren Corporation | Consumer Discretionary | Apparel, Accessories & Luxury Goods | No |
| RMD | ResMed | Health Care | Health Care Equipment | No |
| ROK | Rockwell Automation | Industrials | Electrical Components & Equipment | No |
| ROL | Rollins, Inc. | Industrials | Environmental & Facilities Services | No |
| ROP | Roper Technologies | Information Technology | Electronic Equipment & Instruments | No |
| ROST | Ross Stores | Consumer Discretionary | Apparel Retail | No |
| RSG | Republic Services | Industrials | Environmental & Facilities Services | No |
| RTX | RTX Corporation | Industrials | Aerospace & Defense | Yes |
| RVTY | Revvity | Health Care | Health Care Equipment | No |
| SBAC | SBA Communications | Real Estate | Telecom Tower REITs | No |
| SBUX | Starbucks | Consumer Discretionary | Restaurants | Yes |
| SCHW | Charles Schwab Corporation | Financials | Investment Banking & Brokerage | No |
| SHW | Sherwin-Williams | Materials | Specialty Chemicals | No |
| SJM | J.M. Smucker Company (The) | Consumer Staples | Packaged Foods & Meats | No |
| SLB | Schlumberger | Energy | Oil & Gas Equipment & Services | No |
| SMCI | Supermicro | Information Technology | Technology Hardware, Storage & Peripherals | Yes |
| SNA | Snap-on | Industrials | Industrial Machinery & Supplies & Components | No |
| SNDK | Sandisk | Information Technology | Technology Hardware, Storage & Peripherals | No |
| SNPS | Synopsys | Information Technology | Application Software | No |
| SO | Southern Company | Utilities | Electric Utilities | Yes |
| SOLV | Solventum | Health Care | Health Care Technology | No |
| SPG | Simon Property Group | Real Estate | Retail REITs | No |
| SPGI | S&P Global | Financials | Financial Exchanges & Data | No |
| SRE | Sempra | Utilities | Multi-Utilities | No |
| STE | Steris | Health Care | Health Care Equipment | No |
| STLD | Steel Dynamics | Materials | Steel | No |
| STT | State Street Corporation | Financials | Asset Management & Custody Banks | No |
| STX | Seagate Technology | Information Technology | Technology Hardware, Storage & Peripherals | No |
| STZ | Constellation Brands | Consumer Staples | Distillers & Vintners | No |
| SW | Smurfit Westrock | Materials | Paper & Plastic Packaging Products & Materials | No |
| SWK | Stanley Black & Decker | Industrials | Industrial Machinery & Supplies & Components | No |
| SWKS | Skyworks Solutions | Information Technology | Semiconductors | No |
| SYF | Synchrony Financial | Financials | Consumer Finance | No |
| SYK | Stryker Corporation | Health Care | Health Care Equipment | No |
| SYY | Sysco | Consumer Staples | Food Distributors | No |
| T | AT&T | Communication Services | Integrated Telecommunication Services | Yes |
| TAP | Molson Coors Beverage Company | Consumer Staples | Brewers | No |
| TDG | TransDigm Group | Industrials | Aerospace & Defense | No |
| TDY | Teledyne Technologies | Information Technology | Electronic Equipment & Instruments | No |
| TECH | Bio-Techne | Health Care | Life Sciences Tools & Services | No |
| TEL | TE Connectivity | Information Technology | Electronic Manufacturing Services | No |
| TER | Teradyne | Information Technology | Semiconductor Materials & Equipment | No |
| TFC | Truist Financial | Financials | Diversified Banks | No |
| TGT | Target Corporation | Consumer Staples | Consumer Staples Merchandise Retail | No |
| TJX | TJX Companies | Consumer Discretionary | Apparel Retail | No |
| TKO | TKO Group Holdings | Communication Services | Movies & Entertainment | No |
| TMO | Thermo Fisher Scientific | Health Care | Life Sciences Tools & Services | No |
| TMUS | T-Mobile US | Communication Services | Wireless Telecommunication Services | Yes |
| TPL | Texas Pacific Land Corporation | Energy | Oil & Gas Exploration & Production | No |
| TPR | Tapestry, Inc. | Consumer Discretionary | Apparel, Accessories & Luxury Goods | No |
| TRGP | Targa Resources | Energy | Oil & Gas Storage & Transportation | No |
| TRMB | Trimble Inc. | Information Technology | Application Software | No |
| TROW | T. Rowe Price | Financials | Asset Management & Custody Banks | No |
| TRV | Travelers Companies (The) | Financials | Property & Casualty Insurance | No |
| TSCO | Tractor Supply | Consumer Discretionary | Other Specialty Retail | No |
| TSLA | Tesla, Inc. | Consumer Discretionary | Automobile Manufacturers | Yes |
| TSN | Tyson Foods | Consumer Staples | Packaged Foods & Meats | No |
| TT | Trane Technologies | Industrials | Building Products | No |
| TTD | Trade Desk (The) | Communication Services | Advertising | No |
| TTWO | Take-Two Interactive | Communication Services | Interactive Home Entertainment | No |
| TXN | Texas Instruments | Information Technology | Semiconductors | Yes |
| TXT | Textron | Industrials | Aerospace & Defense | No |
| TYL | Tyler Technologies | Information Technology | Application Software | No |
| UAL | United Airlines Holdings | Industrials | Passenger Airlines | Yes |
| UBER | Uber | Industrials | Passenger Ground Transportation | No |
| UDR | UDR, Inc. | Real Estate | Multi-Family Residential REITs | No |
| UHS | Universal Health Services | Health Care | Health Care Facilities | No |
| ULTA | Ulta Beauty | Consumer Discretionary | Other Specialty Retail | No |
| UNH | UnitedHealth Group | Health Care | Managed Health Care | Yes |
| UNP | Union Pacific Corporation | Industrials | Rail Transportation | No |
| UPS | United Parcel Service | Industrials | Air Freight & Logistics | Yes |
| URI | United Rentals | Industrials | Trading Companies & Distributors | No |
| USB | U.S. Bancorp | Financials | Diversified Banks | No |
| V | Visa Inc. | Financials | Transaction & Payment Processing Services | No |
| VEEV | Veeva Systems | Health Care | Health Care Technology | No |
| VICI | Vici Properties | Real Estate | Hotel & Resort REITs | No |
| VLO | Valero Energy | Energy | Oil & Gas Refining & Marketing | No |
| VLTO | Veralto | Industrials | Environmental & Facilities Services | No |
| VMC | Vulcan Materials Company | Materials | Construction Materials | No |
| VRSK | Verisk Analytics | Industrials | Research & Consulting Services | No |
| VRSN | Verisign | Information Technology | Internet Services & Infrastructure | No |
| VRT | Vertiv | Industrials | Electrical Components & Equipment | Yes |
| VRTX | Vertex Pharmaceuticals | Health Care | Biotechnology | No |
| VST | Vistra Corp. | Utilities | Electric Utilities | No |
| VTR | Ventas | Real Estate | Health Care REITs | No |
| VTRS | Viatris | Health Care | Pharmaceuticals | No |
| VZ | Verizon | Communication Services | Integrated Telecommunication Services | Yes |
| WAB | Wabtec | Industrials | Construction Machinery & Heavy Transportation Equipment | No |
| WAT | Waters Corporation | Health Care | Life Sciences Tools & Services | No |
| WBD | Warner Bros. Discovery | Communication Services | Broadcasting | No |
| WDAY | Workday, Inc. | Information Technology | Application Software | No |
| WDC | Western Digital | Information Technology | Technology Hardware, Storage & Peripherals | No |
| WEC | WEC Energy Group | Utilities | Electric Utilities | No |
| WELL | Welltower | Real Estate | Health Care REITs | No |
| WFC | Wells Fargo | Financials | Diversified Banks | No |
| WM | Waste Management | Industrials | Environmental & Facilities Services | No |
| WMB | Williams Companies | Energy | Oil & Gas Storage & Transportation | No |
| WMT | Walmart | Consumer Staples | Consumer Staples Merchandise Retail | Yes |
| WRB | W. R. Berkley Corporation | Financials | Property & Casualty Insurance | No |
| WSM | Williams-Sonoma, Inc. | Consumer Discretionary | Homefurnishing Retail | No |
| WST | West Pharmaceutical Services | Health Care | Health Care Supplies | No |
| WTW | Willis Towers Watson | Financials | Insurance Brokers | No |
| WY | Weyerhaeuser | Real Estate | Timber REITs | No |
| WYNN | Wynn Resorts | Consumer Discretionary | Casinos & Gaming | No |
| XEL | Xcel Energy | Utilities | Multi-Utilities | No |
| XOM | ExxonMobil | Energy | Integrated Oil & Gas | Yes |
| XYL | Xylem Inc. | Industrials | Industrial Machinery & Supplies & Components | No |
| XYZ | Block, Inc. | Financials | Transaction & Payment Processing Services | No |
| YUM | Yum! Brands | Consumer Discretionary | Restaurants | No |
| ZBH | Zimmer Biomet | Health Care | Health Care Equipment | No |
| ZBRA | Zebra Technologies | Information Technology | Electronic Equipment & Instruments | No |
| ZTS | Zoetis | Health Care | Pharmaceuticals | No |
Sector Definitions
Mag 7 (AI Spenders)
Fixed
Thesis: The seven mega-cap companies driving AI capital expenditure. These are the dominant platforms investing $100B+ collectively in AI infrastructure, cloud, and models.
Criteria: Only the canonical Magnificent 7 stocks. Not a general large-cap bucket.
Chip Supply Chain
Thesis: Companies that design or manufacture semiconductors powering AI, data centers, and consumer electronics. Focused on fabless chip designers and foundries.
Criteria: Pure-play semiconductor companies with significant AI/data center revenue. Excludes chip equipment makers (separate sector).
Infrastructure
Thesis: Hardware and systems companies building the physical infrastructure for AI and cloud computing — servers, networking, power systems.
Criteria: Companies whose revenue is primarily tied to data center build-outs and enterprise hardware.
Enterprise Software
Thesis: SaaS and platform companies selling software to businesses. Focused on leaders in CRM, workflow automation, analytics, and AI-enabled enterprise tools.
Criteria: Recurring revenue SaaS/PaaS businesses with enterprise focus. Excludes consumer software and cybersecurity (separate sector).
Finance
Thesis: Major US financial institutions — investment banks, universal banks.
Criteria: Systemically important financial institutions. Not insurance, asset managers, or fintech.
Healthcare
Thesis: Large-cap healthcare companies across managed care, pharma, and medical devices.
Criteria: Diversified healthcare leaders. Excludes pure biotech (separate sector).
Retail
Thesis: Large-cap retailers with dominant market positions in brick-and-mortar and omnichannel commerce.
Criteria: National/global retailers with massive scale and supply chain advantages.
IT Services
Thesis: Enterprise IT consulting, outsourcing, and technology services providers.
Criteria: Companies whose primary revenue comes from IT consulting, managed services, and enterprise technology solutions.
Airlines
Thesis: Major US passenger airlines.
Criteria: Large US carriers. Not regional airlines or cargo-only operators.
Hospitality & Travel
Thesis: Hotels, online travel agencies, and travel platforms.
Criteria: Companies whose revenue is directly tied to travel and accommodation.
Food & Restaurant
Thesis: Major restaurant chains and quick-service operators.
Criteria: Global restaurant/food-service brands with franchise-heavy models.
Logistics
Thesis: Package delivery and freight logistics companies.
Criteria: National/global logistics networks. Not trucking-only or last-mile startups.
Industrial
Thesis: Diversified industrial manufacturers — heavy equipment, automation, conglomerates.
Criteria: Industrial companies with global manufacturing operations.
Cybersecurity
Thesis: Pure-play cybersecurity vendors protecting enterprise networks, endpoints, and cloud workloads.
Criteria: Companies where cybersecurity is the primary business (>70% of revenue). Not diversified IT companies that happen to have a security product.
Chip Equipment
Thesis: Companies that manufacture the machines and tools used to produce semiconductors.
Criteria: Semiconductor capital equipment makers. Distinct from chip designers (Chip Supply Chain).
Data Center REITs
Thesis: Real estate investment trusts focused on data center facilities.
Criteria: REITs where the majority of assets are data center properties.
Utilities
Thesis: Regulated electric utilities and clean energy operators.
Criteria: Large utilities with regulated rate bases. Includes renewable energy leaders.
Energy
Thesis: Major integrated oil & gas companies.
Criteria: Supermajor energy companies with upstream, midstream, and downstream operations.
Defense & Aerospace
Thesis: Defense contractors and aerospace manufacturers.
Criteria: Companies with significant US defense department contracts.
Telecom
Thesis: Major US telecommunications carriers — wireless and wireline.
Criteria: National telecom operators with network infrastructure. Not cable/media companies.
Media & Entertainment
Thesis: Streaming, film studios, and entertainment conglomerates.
Criteria: Companies whose primary business is content creation and distribution.
Biotech
Thesis: Biotechnology companies focused on drug discovery and biologics.
Criteria: Pure biotech with pipeline-driven valuation. Distinct from big pharma (Healthcare).
Materials
Thesis: Industrial gas and specialty chemical companies.
Criteria: Essential materials suppliers with pricing power and global reach.
Analog & Embedded Chips
Thesis: Semiconductor companies designing analog, mixed-signal, and microcontroller chips for automotive, industrial, and IoT applications.
Criteria: Companies where the majority of revenue comes from embedded, automotive, or industrial chip markets. Distinct from AI/data center focused Chip Supply Chain.