Software Stocks
Top 10 of 106 IGV holdings, updated
As of 12 October 2026, software stocks are among the strongest groups in the market, well ahead of the S&P 500. IGV beats the S&P 500 by 7.6 points over one month and ranks #2 of 115 groups Zensei tracks. 39 of the 105 software stocks Zensei prices in IGV beat the fund this month.
Where software stocks stand now
As of 12 October 2026, Software (IGV) ranks #2 of the 115 groups Zensei tracks by one-month return against the S&P 500, inside the top tier of the market. It sits in the Outperformers quadrant of the rotation map: it has decisively beaten the S&P 500 by 7.6 points over the past month, on top of a 7.5-point advantage over the longer, time-shifted window.
On the shorter tape, IGV is in a dip window: the last sessions have pulled back while the longer intraday trend remains intact — the pattern rotation traders watch for re-entries. IGV's relative-strength line — its price ratio against the S&P 500 — is trading above its moving averages, the healthiest configuration we track. The two signals agree — the short-term tape and the longer trend point the same way.
The exposure comes via iShares Expanded Tech-Software Sector ETF, whose 106 tracked holdings are led by Palo Alto Networks Inc, n/a and Crowdstrike Holdings Inc. Weighted by portfolio, the fund's holdings trade at roughly 40.9× earnings. The thing to watch from here is durability: outperformers that hold their one-month spread while the longer window keeps building tend to stay out front; a fading spread is the early exit signal.
Top software stocks right now
The largest software stocks by weight in IGV, and the strongest over the past month. Size and recent return are measurements, not recommendations.
Largest by fund weight
Share of IGV
- 1Palo Alto Networks IncPANW9.6%
- 2n/aPLTR8.9%
- 3Crowdstrike Holdings IncCRWD8.9%
- 4Microsoft CorpMSFT8.4%
- 5Oracle CorpORCL7.0%
Strongest this month
1-month return, holdings Zensei prices
- 1Ptc IncPTC+48.6%
- 2Rubrik IncRBRK+38.5%
- 3Zscaler IncZS+37.2%
- 4Tenable Holdings IncTENB+35.4%
- 5Servicetitan IncTTAN+32.2%
Software Stocks vs the S&P 500
Over the week to 12 October 2026, IGV rose 1.4% while the S&P 500 rose 0.4%. IGV and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means IGV won that window.
Prices as of · computed from daily adjusted closes · how we measure
Software 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 software stocks expensive?
The price-to-earnings ratio of IGV 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.
IGV holdings: the software stocks inside
As of 12 October 2026, 39 of the 105 software stocks Zensei prices in IGV beat the fund over the past month. 59 of them beat the S&P 500. The strongest is Ptc Inc (PTC); the weakest is Alkami Technology Inc (ALKT). Inside the fund, one or two outliers drive most of the move.
| # | Holding | Weight | 1M | 3M | vs fund 1M | Momentum | RS health |
|---|---|---|---|---|---|---|---|
| 1 | PANWPalo Alto Networks Inc | 9.6% | +22.1% | +22.3% | +12.5 pts | Weak | Fading |
| 2 | PLTRn/a | 8.9% | +25.0% | +60.7% | +15.3 pts | Strong | Strong |
| 3 | CRWDCrowdstrike Holdings Inc | 8.9% | +27.2% | +40.0% | +17.6 pts | Fading | Fading |
| 4 | MSFTMicrosoft Corp | 8.4% | +9.2% | +38.7% | |||
| 5 | ORCLOracle Corp | 7.0% | −8.3% | +4.8% | |||
| 6 | NOWServicenow Inc | 4.3% | +5.9% | +26.1% | |||
| 7 | CRMSalesforce Inc | 4.1% | −5.5% | +36.8% | |||
| 8 | FTNTFortinet Inc | 3.8% | +23.6% | +20.1% | |||
| 9 | CDNSCadence Design Systems Inc | 3.3% | +20.4% | −7.8% | |||
| 10 | ADBEAdobe Inc | 3.2% | −5.6% | +3.3% |
All 106 IGV holdings by weight: Palo Alto Networks Inc (PANW) 9.6%, n/a (PLTR) 8.9%, Crowdstrike Holdings Inc (CRWD) 8.9%, Microsoft Corp (MSFT) 8.4%, Oracle Corp (ORCL) 7.0%, Servicenow Inc (NOW) 4.3%, Salesforce Inc (CRM) 4.1%, Fortinet Inc (FTNT) 3.8%, Cadence Design Systems Inc (CDNS) 3.3%, Adobe Inc (ADBE) 3.2%, Synopsys Inc (SNPS) 3.2%, Datadog Inc (DDOG) 3.2%, Intuit Inc (INTU) 2.6%, Applovin Corp (APP) 2.5%, Strategy Inc (MSTR) 2.0%, Autodesk Inc (ADSK) 1.5%, Workday Inc (WDAY) 1.3%, Take-Two Interactive Software Inc (TTWO) 1.2%, Roper Technologies Inc (ROP) 1.2%, Atlassian Corp (TEAM) 1.0%, Zoom Communications Inc (ZM) 0.8%, Zscaler Inc (ZS) 0.7%, Nutanix Inc (NTNX) 0.7%, Rubrik Inc (RBRK) 0.7%, Dynatrace Inc (DT) 0.6%, n/a (CRCL) 0.6%, Bitmine Immersion Technologies Inc (BMNR) 0.5%, Unity Software Inc (U) 0.5%, Ptc Inc (PTC) 0.5%, Samsara Inc (IOT) 0.5%, Fair Isaac Corp (FICO) 0.5%, Trimble Inc (TRMB) 0.5%, Docusign Inc (DOCU) 0.4%, Guidewire Software Inc (GWRE) 0.4%, Tyler Technologies Inc (TYL) 0.4%, Manhattan Associates Inc (MANH) 0.4%, Gen Digital Inc (GEN) 0.4%, Hubspot Inc (HUBS) 0.4%, Hut 8 Corp (HUT) 0.3%, Elastic NV (ESTC) 0.3%, Interdigital Inc (IDCC) 0.3%, Sentinelone Inc (S) 0.3%, Aurora Innovation Inc (AUR) 0.3%, Gitlab Inc (GTLB) 0.3%, Zeta Global Holdings Corp (ZETA) 0.3%, Riot Platforms Inc (RIOT) 0.2%, Qualys Inc (QLYS) 0.2%, The Descartes Systems Group Inc 0.2%, Terawulf Inc (WULF) 0.2%, Procore Technologies Inc (PCOR) 0.2%, Commvault Systems Inc (CVLT) 0.2%, Snap Inc (SNAP) 0.2%, Ringcentral Inc (RNG) 0.2%, D-Wave Quantum Inc (QBTS) 0.2%, Blackberry Ltd (BB) 0.2%, Varonis Systems Inc (VRNS) 0.2%, Cipher Digital Inc (CIFR) 0.2%, n/a (CORZ) 0.2%, Open Text Corp (OTEX) 0.2%, Uipath Inc (PATH) 0.2%, Appfolio Inc (APPF) 0.2%, Aci Worldwide Inc (ACIW) 0.2%, Bentley Systems Inc (BSY) 0.2%, Box Inc (BOX) 0.2%, Dropbox Inc (DBX) 0.2%, Mara Holdings Inc (MARA) 0.1%, Clear Secure Inc (YOU) 0.1%, Servicetitan Inc (TTAN) 0.1%, Tenable Holdings Inc (TENB) 0.1%, Dolby Laboratories Inc (DLB) 0.1%, Q2 Holdings Inc (QTWO) 0.1%, Bill Holdings Inc (BILL) 0.1%, Ccc Intelligent Solutions Holdings Inc (CCC) 0.1%, Workiva Inc (WK) 0.1%, Life360 Inc (LIF) 0.1%, Cleanspark Inc (CLSK) 0.1%, Adeia Inc (ADEA) 0.1%, Freshworks Inc (FRSH) 0.1%, Pegasystems Inc (PEGA) 0.1%, Sps Commerce Inc (SPSC) 0.1%, Teradata Corp (TDC) 0.1%, Agilysys Inc (AGYS) 0.1%, Five9 Inc (FIVN) 0.1%, Alarm.Com Holdings Inc (ALRM) 0.1%, Braze Inc (BRZE) 0.1%, Liveramp Holdings Inc (RAMP) 0.1%, Soundhound AI Inc (SOUN) 0.1%, A10 Networks Inc (ATEN) 0.1%, Ncino Inc (NCNO) 0.1%, Avepoint Inc (AVPT) 0.1%, Klaviyo Inc (KVYO) 0.1%, Nextnav Inc (NN) 0.1%, Intapp Inc (INTA) 0.1%, Blackbaud Inc (BLKB) 0.1%, C3.Ai Inc (AI) 0.1%, Progress Software Corp (PRGS) 0.1%, Appian Corp (APPN) 0.0%, Pagerduty Inc (PD) 0.0%, Blackline Inc (BL) 0.0%, Lightspeed Commerce Inc (LSPD) 0.0%, Ncr Voyix Corp (VYX) 0.0%, Asana Inc (ASAN) 0.0%, Alkami Technology Inc (ALKT) 0.0%, Vertex Inc (VERX) 0.0%, Arteris Inc (AIP) 0.0%, Sprinklr Inc (CXM) 0.0%.
Software Stocks: common questions
What are the top 3 software stocks?
As of 12 October 2026, the three largest software stocks in IGV by fund weight are Palo Alto Networks Inc (PANW) (9.6%), n/a (PLTR) (8.9%) and Crowdstrike Holdings Inc (CRWD) (8.9%). Fund weight shows size inside the fund, not a recommendation.
Which software stocks are beating the sector?
As of 12 October 2026, 39 of the 105 software stocks Zensei prices in IGV beat the fund over the past month. The strongest over the past month is Ptc Inc (PTC). The list above shows every holding with its weight and returns.
Are software stocks outperforming the S&P 500?
Yes. As of 12 October 2026, IGV has beaten the S&P 500 by 7.6 points over the past month.
Is it a good time to invest in software stocks?
Zensei does not give investment advice, but it measures the trend. As of 12 October 2026, software stocks are ahead of the S&P 500 on both the recent and the longer window. The rotation map and the read on this page show whether that trend is building or fading.
What is IGV?
IGV is iShares Expanded Tech-Software Sector ETF. Zensei uses it to measure software stocks against the S&P 500 (SPY).
What stocks does IGV own?
As of 12 October 2026, the largest of the 106 positions Zensei tracks in IGV are Palo Alto Networks Inc, n/a, Crowdstrike Holdings Inc, Microsoft Corp, Oracle Corp. Each position measured against the fund, with momentum and relative strength, is part of Zensei Premium.
What quadrant is software in right now?
As of 12 October 2026, software is in the Outperformers quadrant — outperforming the S&P 500 on both the recent and the longer, time-shifted window. The Zensei methodology page explains the quadrants.
Recent changes
- ·Beating the market → among the strongest
- ·First tracked: beating the market
Related sectors
Track software against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.