In this analysis, the authors explore the relationship between the social context of high schools and school-to-school variation in tracking policies. The authors consider three explanations for the implementation of highly elaborated tracking systems: opportunity hoarding, status competition, and a technical-functional explanation. Building on the research methodology developed by Kelly, they conducted a content analysis of curriculum guides in a sample of 128 high schools to identify school tracking policies. They find that compositional variables related to technical-functional concerns, and to a lesser extent, status competition, are associated with highly elaborated school tracking policies. (Contains 6 notes and 5 tables.)