ETF look-through · holdings as of 2026-06-30 · filed 2026-08-28
SPY State Street(R) SPDR(R) S&P 500(R) ETF Trust
1.2%of the fund sits in checked holdings with a warning filing in the last 12 months
74.5%of the fund checked (the 100 largest matched holdings)
503stocks held · 97.6% matched to an SEC filer
Health HarborSPY sails as: New ship
Sailing speed follows growth: 15.7% a year crosses the harbor in 33 seconds.
🌊 Visit the Bay →No warning signs on the measures below.
Boat condition = number of warning signs: warning filings ≥ 5% of the fund; liabilities over assets ≥ 10%; slow and jumpy ≥ 30%; top 10 ≥ 60%; revenue ranges ≥ ±20%. A picture of the signs, not a rating and not investment advice.
Actuarial summary
| Measure | Value | What it means |
|---|---|---|
| Warning share | 1.2% | Share of the fund in companies that filed a warning event in the last 12 months. Lower is healthier. |
| Top-10 weight | 36.4% | How much the 10 largest holdings carry. Higher means more rides on a few names. |
| Effective holdings | 51 | The fund behaves like this many equal holdings (1 ÷ Σ weight²). Higher is more diversified. |
| Largest sector | Technology & communications 56% | Of the holdings checked. Technology & communications 56% · Industrials & services 12% · Consumer 12% · Financials 8% · Health care 8%. |
| Revenue range | ±14.9% | Weighted width of Edgarette’s tested 80% revenue ranges, on the 96% of the fund she covers. Narrower is more predictable. |
| Checked | 74.5% | Share of the fund Health Watch has read. |
| Cash conversion | 28.0% | Operating cash as a share of revenue, weighted. Higher = money arrives faster. |
| Growth speed | 15.7% a year | Revenue growth per year over three years, weighted. The long-term engine. |
| Dividend payers | 78% · raised 71% | Share of the covered fund in companies paying a common dividend, and raising it. |
| Dividend yield | 0.9% | Common dividends paid in the latest fiscal year ÷ market value, weighted. Market value = the reported price × diluted shares. |
| Buyback yield | +1.2% | Shares bought back minus shares issued for cash, ÷ market value, weighted. From the cash-flow statements. |
| Starting valuation | 33.7× earnings | Price ÷ earnings (P/E) of the covered fund, from net income as filed. Higher = more is already priced in. |
| Expected stock return | +0.6% to +32.1% a year | Building blocks (Grinold–Kroner): income yield +2.1% + revenue growth -1.5% to +30.0% from Edgarette’s 80% ranges + valuation change taken as 0. Midpoint +19.3%. Covers 93% (yields) and 96% (growth) of the fund. An assumption by a published method, not a promise or a price forecast. |
| Equity ratio | 42.7% | Equity as a share of assets, weighted. Higher = less owed to others. |
| Classic signals | Z″ distress 10% · F ≤ 2 0% · accruals ahead 8% | What a terminal subscription used to buy, a filing and arithmetic now give anyone: share of the covered fund in Altman’s distress zone (Z″ below 1.1), with a Piotroski F of 2 or less, and with earnings running ahead of cash (Sloan accruals of 10% or more). Display only. Method → |
| Liabilities over assets | 4.2% | Share of the covered fund in companies whose liabilities exceed assets (often from buybacks, not always distress). |
Cash Compass
🌱 Later 39%🐄 Now 33%🌊 Between 11%🍂 Fading 8%🐂 Steady 5%⚡ Not yet 4%
Speed and steadiness
Fast · jumpy 35%Fast · steady 34%Slow · steady 19%Slow · jumpy 11%
Inside view (own filings) and outside view (same-size peers) must agree · covers 96% of the fund · a description, not advice.
Risks to watch
- Sector concentration: 55.7% of the checked holdings are Technology & communications.
- Holdings are as of 2026-06-30; the fund may have changed since.
Counted as a warning: late-filing notice, bankruptcy, debt trigger, non-reliance, auditor change, restructuring, impairment or cyber incident. Leadership changes and exchange listing notices or transfers are listed but not counted, because the filing code alone cannot tell a warning from routine housekeeping.
Warning filings by kind
| Kind | Holdings | Share of fund |
|---|---|---|
| Restructuring or exit costs | 2 | 0.9% |
| Exchange listing notice or transfer (listed, not counted) | 1 | 0.8% |
| Cybersecurity incident | 1 | 0.3% |
Largest holdings
| Holding | Weight | Health watch, last 12 months | Classic signals Z″ · F · accruals |
|---|---|---|---|
| NVIDIA Corp $NVDA | 7.52% | quiet · leadership change | Z″ 12.85 safeF 4/9accruals 10.9% |
| Apple Inc $AAPL | 6.59% | quiet · leadership change | Z″ 2.58 greyF 7/9accruals 0.1% |
| Microsoft Corp $MSFT | 4.30% | quiet · leadership change | Z″ 4.66 safeF 6/9accruals -5.7% |
| Amazon.com Inc $AMZN | 3.62% | quiet · leadership change | Z″ 2.8 safeF 6/9accruals -8.6% |
| Alphabet Inc $GOOGL | 3.25% | quiet · leadership change | Z″ 6.79 safeF 6/9accruals -6.2% |
| Broadcom Inc $AVGO | 2.77% | quiet · leadership change | Z″ 2.65 safeF 7/8accruals -2.6% |
| Alphabet Inc $GOOGL | 2.59% | quiet · leadership change | Z″ 6.79 safeF 6/9accruals -6.2% |
| Micron Technology Inc $MU | 2.02% | quiet · leadership change | Z″ 6.4 safeF 7/9accruals -11.4% |
| Meta Platforms Inc $META | 1.92% | quiet · leadership change | Z″ 5.34 safeF 5/9accruals -17.2% |
| Tesla Inc $TSLA | 1.84% | quiet | Z″ 4.46 safeF 5/9accruals -8.4% |
| Eli Lilly & Co $LLY | 1.47% | quiet · leadership change | F 7/9accruals 4.0% |
| Advanced Micro Devices Inc $AMD | 1.47% | quiet · leadership change | Z″ 6.85 safeF 8/9accruals -4.6% |
| Berkshire Hathaway Inc $BRK-B | 1.42% | quiet · leadership change | Z″ not coveredF 3/6accruals 1.8% |
| JPMorgan Chase & Co $JPM | 1.36% | quiet · leadership change | Z″ not coveredF 3/7accruals 4.9% |
| Intel Corp $INTC | 1.02% | quiet · leadership change | Z″ 2.92 safeF 6/9accruals -4.9% |
| Johnson & Johnson $JNJ | 0.95% | quiet · leadership change | F 4/9accruals 1.2% |
| Applied Materials Inc $AMAT | 0.89% | quiet · leadership change | Z″ 10.15 safeF 6/9accruals -2.7% |
| Visa Inc $V | 0.88% | quiet | Z″ 3.14 safeF 4/7accruals -3.2% |
| Exxon Mobil Corp | 0.88% | not checked | — |
| Lam Research Corp $LRCX | 0.84% | quiet · leadership change | Z″ 10.72 safeF 7/9accruals 6.8% |
| Walmart Inc $WMT | 0.77% | Exchange listing notice or transfer · leadership change | Z″ 1.95 greyF 7/9accruals -7.2% |
| Caterpillar Inc $CAT | 0.76% | quiet · leadership change | Z″ 4.27 safeF 6/9accruals -3.1% |
| Cisco Systems Inc $CSCO | 0.72% | Restructuring or exit costs · leadership change | Z″ 1.22 greyF 7/9accruals -3.3% |
| AbbVie Inc $ABBV | 0.69% | quiet · leadership change | Z″ -0.34 distressF 8/9accruals -11.0% |
| Costco Wholesale Corp $COST | 0.64% | quiet · leadership change | Z″ 2.52 greyF 7/9accruals -6.7% |
| Mastercard Inc $MA | 0.64% | quiet · leadership change | Z″ 7.73 safeF 8/8accruals -5.2% |
| KLA Corp $KLAC | 0.61% | quiet | F 9/9accruals -0.1% |
| General Electric Co $GE | 0.60% | quiet · leadership change | F 5/8accruals 0.1% |
| UnitedHealth Group Inc $UNH | 0.58% | quiet · leadership change | Z″ 1.41 greyF 7/9accruals -2.5% |
| Bank of America Corp $BAC | 0.58% | quiet · leadership change | Z″ not coveredF 5/7accruals 0.5% |
| Home Depot Inc/The $HD | 0.55% | quiet · leadership change | Z″ 4.54 safeF 5/9accruals -2.1% |
| Procter & Gamble Co/The $PG | 0.53% | quiet · leadership change | Z″ 4.75 safeF 6/9accruals -1.5% |
| Sandisk Corp $SNDK | 0.52% | quiet · leadership change | — |
| Merck & Co Inc $MRK | 0.49% | quiet · leadership change | F 4/9accruals 1.4% |
| GE Vernova Inc $GEV | 0.49% | quiet · leadership change | Z″ 0.62 distressF 7/9accruals -0.2% |
| Coca-Cola Co/The $KO | 0.49% | quiet · leadership change | Z″ 4.46 safeF 7/9accruals 5.5% |
| Chevron Corp $CVX | 0.48% | quiet · leadership change | F 6/9accruals -7.4% |
| Netflix Inc $NFLX | 0.47% | quiet · leadership change | Z″ 5.29 safeF 7/9accruals 1.5% |
| Goldman Sachs Group Inc/The $GS | 0.46% | quiet · leadership change | — |
| Philip Morris International Inc $PM | 0.44% | quiet · leadership change | Z″ 2.88 safeF 8/9accruals -1.4% |
Classic signals: Altman Z″ (1995 variant, book equity; safe above 2.6, distress below 1.1), Piotroski F of 9, Sloan accruals. Each from the holding’s own filings; display only, not a rating. Why? →
Holdings are as the fund reported them to the SEC for 2026-06-30; N-PORT is made public about 60 days after quarter end. Only common-stock holdings are read; cash, securities-lending collateral and derivatives are left out. Sectors come from each company’s SEC industry code (SIC), grouped broadly; they can differ from an index provider’s sector labels. Display only: this describes what the fund holds, it is not a rating of the fund and not investment advice. Source: the fund’s N-PORT filing · this page as JSON
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