Banking and Mining Stocks Dominate State Street’s Portfolio (ASX:SFY)

Highlights

• ASX:SFY was trading at $79.00, down $0.06 or 0.07% from the previous close of $79.06.
• Financial services represented 40.93% of the portfolio, while basic materials accounted for 24.42%.
• The fund held 52 companies, with its top 10 holdings representing 61.30% of the portfolio.
• Australian securities made up 97.76% of geographic exposure, with stocks representing 99.80% of assets.

State Street SPDR S&P/ASX 50 ETF (ASX:SFY) provides exposure to 50 of Australia’s largest listed companies through a passive strategy designed to reflect the S&P/ASX 50 Index. The fund was admitted to the ASX on 27 August 2001 and had a reported fund size of $732.99 million. Its management fee is 0.20%, while units outstanding stood at 9,271,258.

Financial Services Remain the Largest Sector

Financial services accounted for 40.93% of SFY, substantially above the 30.61% allocation for the broader Equity Australia Large Blend category. Basic materials represented 24.42%, broadly in line with the category’s 24.81%.

Consumer cyclical stocks accounted for 7.37%, slightly above the category’s 7.26%. In contrast, healthcare represented 5.11%, below the category’s 6.55%, while industrials stood at 4.51% compared with 7.12%.

Real estate was also lower at 4.62% versus 6.17% for the category. Energy accounted for 4.01%, communication services 3.02% and consumer defensive stocks 3.68%. Utilities represented 1.45%, slightly above the category’s 1.27%.

BHP and CBA Head the Holdings

The portfolio is concentrated among Australia’s largest companies. BHP Group was the largest holding at 13.90%, followed closely by Commonwealth Bank of Australia at 13.49%. Westpac Banking Corporation represented 5.87%, while National Australia Bank accounted for 5.76%.

ANZ Group Holdings had a 5.10% weighting, followed by Wesfarmers at 4.60% and Macquarie Group at 4.07%. Rio Tinto, Woodside Energy Group and Goodman Group represented 2.88%, 2.83% and 2.76%, respectively.

The top 10 holdings together represented 61.30% of SFY, leaving 38.69% for the remainder of the portfolio. The fund reported a total of 52 companies and a Turnover ratio of 9.47%.

Large-Cap Concentration Defines the Fund

All of SFY’s portfolio exposure was classified within companies with market capitalisations above $1 billion. By comparison, the category data included 93.57% in companies above that threshold, 5.76% between $500 million and $1 billion and 0.66% below $500 million.

The asset allocation also reflects the fund’s equity-focused mandate. Stocks represented 99.80% of assets, while cash represented 0.20%.

Geographically, Australia accounted for 97.76% of exposure. The United States represented the remaining 2.24%, making the portfolio overwhelmingly concentrated in Australian securities.

Distribution Data Shows Quarterly Payments

SFY’s distribution information records a final distribution of $0.821 per unit, with an ex-date of 29 June 2026, Record Date of 30 June and payment date of 13 July. The reported annual Yield was 3.76%.

The distribution history provided shows $0.606 in April 2026, $0.669 in January 2026 and $0.876 in October 2025, before the latest $0.821 payment. The figures indicate that distributions have varied between reporting periods rather than remaining at a fixed level.

Conclusion

SFY’s latest portfolio data shows a fund heavily weighted toward Australia’s major financial institutions and Mining companies, with financial services and basic materials together accounting for 65.35% of the portfolio. BHP and Commonwealth Bank are the two largest individual positions, while the top 10 holdings account for more than three-fifths of total assets.