Industrial Stocks
Top 10 of 83 XLI holdings, updated
As of 12 October 2026, industrial stocks are trailing the S&P 500, over the past month and over the longer run. XLI trails the S&P 500 by 3.7 points over one month and ranks #48 of 115 groups Zensei tracks. 43 of the 83 industrial stocks Zensei prices in XLI beat the fund this month.
Where industrial stocks stand now
As of 12 October 2026, Industrials (XLI) ranks #48 of the 115 groups Zensei tracks by one-month return against the S&P 500. It is out of favor: it trails the S&P 500 on both rotation windows — 3.7 points behind over the past month and 6.5 points behind over the longer, time-shifted window. That is the Underperformers quadrant.
On the shorter tape, XLI's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. XLI's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via Industrial Select Sector SPDR, whose 83 tracked holdings are led by Caterpillar, GE Aerospace and GE Vernova. Weighted by portfolio, the fund's holdings trade at roughly 28.0× earnings. The thing to watch from here is the one-month spread: underperformers only become interesting when the recent window turns positive first — until then, the market is voting elsewhere.
As of , these are the largest industrial stocks in XLI by fund weight, and the strongest over the past month. Size and recent return are measurements, not recommendations.
Top industrial stocks by fund weight
Ranked by largest share of XLI
- 1CaterpillarCAT7.0%
- 2GE AerospaceGE5.9%
- 3GE VernovaGEV5.0%
- 4RTXRTX4.5%
- 5Eaton Corp PLCETN3.1%
Best industrial stocks this month
Ranked by one-month return, among the holdings Zensei prices
- 1Generac Holdings IncGNRC+16.8%
- 2Ingersoll Rand IncIR+8.5%
- 3Trane Technologies PLCTT+8.0%
- 4United Rentals IncURI+6.9%
- 5Quanta Services IncPWR+6.8%
Industrial Stocks vs the S&P 500
Over the week to 12 October 2026, XLI fell 0.6% while the S&P 500 rose 0.4%. The table compares XLI and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means XLI won that window.
Prices as of · computed from daily adjusted closes · how we measure
Industrials on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.
Are industrial stocks expensive?
The price-to-earnings ratio of XLI as a whole: the total price of its holdings over their total earnings, weighted by share of the fund. Holdings that lose money are left out. Compare with every sector and theme: P/E ratio by sector.
XLI holdings: the industrial stocks inside
This list covers all 83 industrial stocks in XLI, heaviest first; the 10 largest show their returns where Zensei has a price. As of 12 October 2026, 43 of the 83 industrial stocks Zensei prices in XLI beat the fund over the past month. 19 of them beat the S&P 500. The strongest is Generac Holdings Inc (GNRC); the weakest is JB Hunt Transport Services Inc (JBHT). Inside the fund, the holdings split between winners and losers.
| # | Holding | Weight | 1M | 3M | vs fund 1M | Momentum | RS health |
|---|---|---|---|---|---|---|---|
| 1 | CATCaterpillar | 7.0% | −2.3% | −14.0% | −0.7 pts | Weak | Broken |
| 2 | GEGE Aerospace | 5.9% | −4.5% | −12.5% | −2.9 pts | Weak | Broken |
| 3 | GEVGE Vernova | 5.0% | +4.2% | −4.4% | +5.8 pts | Cruising | Strong |
| 4 | RTXRTX | 4.5% | −5.6% | −4.7% | |||
| 5 | ETNEaton Corp PLC | 3.1% | +0.3% | +6.2% | |||
| 6 | DEDeere & Co | 3.1% | −6.2% | +8.3% | |||
| 7 | UNPUnion Pacific Corp | 3.0% | −1.0% | −2.2% | |||
| 8 | BABoeing | 2.8% | −10.0% | −12.1% | |||
| 9 | UBERUber Technologies | 2.6% | −0.2% | −3.7% | |||
| 10 | PHParker Hannifin Corp | 2.3% | +0.7% | +0.8% |
All 83 XLI holdings by weight: Caterpillar (CAT) 7.0%, GE Aerospace (GE) 5.9%, GE Vernova (GEV) 5.0%, RTX (RTX) 4.5%, Eaton Corp PLC (ETN) 3.1%, Deere & Co (DE) 3.1%, Union Pacific Corp (UNP) 3.0%, Boeing (BA) 2.8%, Uber Technologies (UBER) 2.6%, Parker Hannifin Corp (PH) 2.3%, Quanta Services Inc (PWR) 2.0%, Automatic Data Processing Inc (ADP) 2.0%, Trane Technologies PLC (TT) 1.9%, Lockheed Martin Corp (LMT) 1.9%, JCI 1.8%, Vertiv (VRT) 1.8%, Howmet Aerospace Inc (HWM) 1.7%, Emerson Electric Co (EMR) 1.7%, CSX Corp (CSX) 1.6%, Bloom Energy (BE) 1.6%, 3m Co (MMM) 1.6%, General Dynamics Corp (GD) 1.6%, Waste Management Inc (WM) 1.5%, Cummins Inc (CMI) 1.3%, Norfolk Southern Corp (NSC) 1.3%, UPS (UPS) 1.3%, Illinois Tool Works Inc (ITW) 1.3%, Cintas Corp (CTAS) 1.3%, Honeywell International Inc (HON) 1.2%, United Rentals Inc (URI) 1.2%, Fedex Corp (FDX) 1.2%, Northrop Grumman Corp (NOC) 1.2%, Comfort Systems USA Inc (FIX) 1.1%, Transdigm Group Inc (TDG) 1.1%, Ametek Inc (AME) 1.1%, Fastenal Co (FAST) 1.1%, Paccar Inc (PCAR) 1.1%, W.W. Grainger Inc (GWW) 1.0%, Rockwell Automation Inc (ROK) 0.9%, Delta Air Lines Inc (DAL) 0.9%, Honeywell Aerospace Inc (HONA) 0.9%, Westinghouse Air Brake Technologies Corp (WAB) 0.9%, Carrier Global Corp (CARR) 0.9%, L3harris Technologies Inc (LHX) 0.8%, Republic Services Inc (RSG) 0.8%, Ferguson Enterprises Inc (FERG) 0.8%, United Airlines Holdings Inc (UAL) 0.7%, Emcor Group Inc (EME) 0.7%, Axon Enterprise Inc (AXON) 0.6%, Old Dominion Freight Line (ODFL) 0.6%, Paychex Inc (PAYX) 0.6%, Ingersoll Rand Inc (IR) 0.5%, Hubbell Inc (HUBB) 0.5%, Dover Corp (DOV) 0.5%, Otis Worldwide Corp (OTIS) 0.5%, EXPD 0.5%, Veralto Corp (VLTO) 0.4%, Xylem Inc (XYL) 0.4%, Copart Inc (CPRT) 0.4%, Verisk Analytics Inc (VRSK) 0.4%, Southwest Airlines Co (LUV) 0.4%, Snap-On Inc (SNA) 0.4%, Broadridge Financial Solutions Inc (BR) 0.3%, Dupont de Nemours Inc (DD) 0.3%, Idex Corp (IEX) 0.3%, Nordson Corp (NDSN) 0.3%, Fortive Corp (FTV) 0.3%, Equifax Inc (EFX) 0.3%, JB Hunt Transport Services Inc (JBHT) 0.3%, C.H. Robinson Worldwide Inc (CHRW) 0.3%, Jacobs Solutions Inc (J) 0.3%, Leidos Holdings Inc (LDOS) 0.3%, Masco Corp (MAS) 0.3%, Stanley Black & Decker Inc (SWK) 0.3%, Fedex Freight Holding Co Inc (FDXF) 0.3%, Generac Holdings Inc (GNRC) 0.2%, Allegion PLC (ALLE) 0.2%, Textron Inc (TXT) 0.2%, Lennox International Inc (LII) 0.2%, Huntington Ingalls Industries Inc (HII) 0.2%, Rollins Inc (ROL) 0.2%, Pentair PLC (PNR) 0.2%, A.O. Smith Corp (AOS) 0.1%.
Industrial stocks with their own page
Zensei publishes a page for 3 of the stocks in XLI; each page shows the stock against the S&P 500 and its sector.
| Stock | Ticker | Weight in XLI | 1M return |
|---|---|---|---|
| Caterpillar | CAT | 7.0% | −2.3% |
| GE Vernova | GEV | 5.0% | +4.2% |
| Vertiv | VRT | 1.8% | −6.9% |
Weight is the share of XLI. 1M is the plain one-month return to the close of . All stock pages
Industrial Stocks: common questions
Industrial stocks list: which stocks are in XLI?
As of 12 October 2026, XLI holds 83 industrial stocks, and this page lists all 83. The three largest by fund weight are Caterpillar (CAT, 7.0%), GE Aerospace (GE, 5.9%) and GE Vernova (GEV, 5.0%). Each one shows its fund weight; the 10 largest also show their one-month and three-month returns where Zensei has a price.
What are the best industrial stocks this month?
As of 12 October 2026, ranked by one-month return, the three strongest industrial stocks in XLI are Generac Holdings Inc (GNRC, +16.8%), Ingersoll Rand Inc (IR, +8.5%) and Trane Technologies PLC (TT, +8.0%). This ranks past return only; it does not forecast the next month.
What are the top 3 industrial stocks?
As of 12 October 2026, the three largest industrial stocks in XLI by fund weight are Caterpillar (CAT, 7.0%), GE Aerospace (GE, 5.9%) and GE Vernova (GEV, 5.0%). Fund weight shows size inside the fund, not a recommendation.
Which industrial stocks are beating the sector?
As of 12 October 2026, 43 of the 83 industrial stocks Zensei prices in XLI beat the fund over the past month. The strongest over the past month is Generac Holdings Inc (GNRC). The table above shows the largest holdings with their weights and returns.
Which ETF holds industrial stocks?
Several ETFs hold industrial stocks. Zensei tracks the group through XLI, the Industrial Select Sector SPDR. As of 12 October 2026, its published holdings list 83 industrial stocks, and the 10 largest make up 39.3% of the fund.
Are industrial stocks outperforming the S&P 500?
No. As of 12 October 2026, XLI trails the S&P 500 by 3.7 points over the past month.
What is XLI?
XLI is Industrial Select Sector SPDR. Zensei uses it to measure industrial stocks against the S&P 500 (SPY).
What stocks does XLI own?
As of 12 October 2026, the largest of the 83 positions Zensei tracks in XLI are Caterpillar, GE Aerospace, GE Vernova, RTX, Eaton Corp PLC. Each position measured against the fund, with momentum and relative strength, comes with a free Zensei account.
What quadrant is industrials in right now?
As of 12 October 2026, industrials is in the Underperformers quadrant — trailing the S&P 500 on both windows. The Zensei methodology page explains the quadrants.
Recent changes
- ·First tracked: trailing the market
Related sectors
Track industrials against the whole market
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