Performance Attribution Analysis in Portfolio Management

In a recent performance review, a portfolio manager evaluated their equity portfolio, which consisted of five stocks across different sectors. The portfolio generated a return of 12% over the period, while the benchmark index, which is a broad market index, yielded a return of 10%. The manager attributes this success to both stock selection and sector allocation. The weights of the sectors in the portfolio relative to the benchmark are as follows:

• Technology: Portfolio Weight - 25%, Benchmark Weight - 20%
• Healthcare: Portfolio Weight - 30%, Benchmark Weight - 30%
• Financials: Portfolio Weight - 20%, Benchmark Weight - 25%
• Consumer Goods: Portfolio Weight - 15%, Benchmark Weight - 15%
• Utilities: Portfolio Weight - 10%, Benchmark Weight - 10%

Using the Brinson model of performance attribution, which of the following components is likely to have contributed the most significant impact to the portfolio's outperformance compared to the benchmark?