Yesterday we published our monthly S&P 500 Sector Weightings report for clients. The report provides a detailed historical look at S&P 500 sector weightings, and it's something clients find very useful. Below we show current S&P 500 sector weightings. Anything stand out?

Yes, at 25.78%, the technology sector now makes up more than a quarter of the S&P 500. That's a bigger slice of the pie than the smallest six sectors combined.

The Financial sector is the second largest at 14.65%, followed by Health Care at 13.71%, and then Consumer Discretionary at 12.86%. There was a time relatively recently when Energy, Consumer Staples, and Industrials all had weightings above 10%, but at this point they're all in the single digits.

Getting back to the Technology sector, below is a look at its historical weight in the S&P 500.At 25.78%, Tech's weighting was only higher during a 10-month window from December 1999 to September 2000.