ETF look-through · holdings as of 2026-06-30 · filed 2026-08-28
XLRE State Street(R) Real Estate Select Sector SPDR(R) ETF
4.4%of the fund sits in checked holdings with a warning filing in the last 12 months
94.3%of the fund checked (the 29 largest matched holdings)
31stocks held · 94.3% matched to an SEC filer
Health HarborXLRE sails as: New ship
Sailing speed follows growth: 10.3% a year crosses the harbor in 49 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 | 4.4% | Share of the fund in companies that filed a warning event in the last 12 months. Lower is healthier. |
| Top-10 weight | 59.1% | How much the 10 largest holdings carry. Higher means more rides on a few names. |
| Effective holdings | 20 | The fund behaves like this many equal holdings (1 ÷ Σ weight²). Higher is more diversified. |
| Largest sector | Real estate & trusts 99% | Of the holdings checked. Real estate & trusts 99% · Industrials & services 1%. |
| Revenue range | ±12.9% | Weighted width of Edgarette’s tested 80% revenue ranges, on the 94% of the fund she covers. Narrower is more predictable. |
| Checked | 94.3% | Share of the fund Health Watch has read. |
| Cash conversion | 46.4% | Operating cash as a share of revenue, weighted. Higher = money arrives faster. |
| Growth speed | 10.3% a year | Revenue growth per year over three years, weighted. The long-term engine. |
| Dividend payers | 78% · raised 70% | Share of the covered fund in companies paying a common dividend, and raising it. |
| Dividend yield | 2.5% | Common dividends paid in the latest fiscal year ÷ market value, weighted. Market value = the reported price × diluted shares. |
| Buyback yield | -0.1% | Shares bought back minus shares issued for cash, ÷ market value, weighted. From the cash-flow statements. |
| Starting valuation | 41.4× earnings | Price ÷ earnings (P/E) of the covered fund, from net income as filed. Higher = more is already priced in. |
| Expected stock return | -2.9% to +24.5% a year | Building blocks (Grinold–Kroner): income yield +2.4% + revenue growth -5.3% to +22.2% from Edgarette’s 80% ranges + valuation change taken as 0. Midpoint +11.7%. Covers 93% (yields) and 94% (growth) of the fund. An assumption by a published method, not a promise or a price forecast. |
| Equity ratio | 38.4% | Equity as a share of assets, weighted. Higher = less owed to others. |
| Classic signals | Z″ distress 0% · F ≤ 2 0% · accruals ahead 0% | 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 | 9.8% | Share of the covered fund in companies whose liabilities exceed assets (often from buybacks, not always distress). |
Cash Compass
🐄 Now 43%🌱 Later 31%🌊 Between 14%🍂 Fading 6%⚡ Not yet 4%🐂 Steady 2%
Speed and steadiness
Fast · steady 56%Fast · jumpy 26%Slow · steady 12%Slow · jumpy 6%
Inside view (own filings) and outside view (same-size peers) must agree · covers 94% of the fund · a description, not advice.
Risks to watch
- Concentrated: the 10 largest holdings are 59.1% of the fund.
- Behaves like about 20 equal holdings (effective number), so a few companies drive the result.
- Sector concentration: 98.7% of the checked holdings are Real estate & trusts.
- 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 | 1 | 3.4% |
| Material impairment | 1 | 1.0% |
Largest holdings
| Holding | Weight | Health watch, last 12 months | Classic signals Z″ · F · accruals |
|---|---|---|---|
| Welltower Inc $WELL | 11.01% | quiet | Z″ not coveredF 6/8accruals -3.3% |
| Prologis Inc $PLD | 8.68% | quiet · leadership change | Z″ not coveredF 5/7accruals -1.7% |
| Equinix Inc $EQIX | 7.06% | quiet · leadership change | Z″ not coveredF 5/8accruals -6.8% |
| American Tower Corp $AMT | 5.24% | quiet · leadership change | Z″ not coveredF 7/8accruals -4.7% |
| Simon Property Group Inc $SPGJ | 4.98% | quiet · leadership change | Z″ not coveredF 5/7accruals 1.3% |
| Realty Income Corp $O | 4.55% | quiet · leadership change | Z″ not coveredF 6/7accruals -4.2% |
| Digital Realty Trust Inc $DLR | 4.53% | quiet · leadership change | Z″ not coveredF 6/7accruals -2.3% |
| Public Storage $PSA | 4.48% | quiet · leadership change | Z″ not coveredF 5/7accruals -7.0% |
| Ventas Inc $VTR | 4.47% | quiet · leadership change | Z″ not coveredF 6/7accruals -5.2% |
| CBRE Group Inc $CBRE | 4.08% | quiet · leadership change | Z″ not coveredF 5/9accruals -1.5% |
| Iron Mountain Inc $IRM | 3.89% | quiet | Z″ not coveredF 4/8accruals -6.0% |
| Crown Castle Inc $CCI | 3.42% | Restructuring or exit costs · leadership change | Z″ not coveredF 5/9accruals -8.1% |
| Extra Space Storage Inc $EXR | 3.18% | quiet · leadership change | Z″ not coveredF 7/8accruals -3.0% |
| VICI Properties Inc $VICI | 3.00% | quiet · leadership change | Z″ not coveredF 6/8accruals 0.6% |
| AvalonBay Communities Inc | 2.71% | not checked | — |
| Equity Residential | 2.40% | not checked | — |
| Essex Property Trust Inc $ESS | 1.94% | quiet | Z″ not coveredF 6/8accruals -3.1% |
| SBA Communications Corp $SBAC | 1.94% | quiet · leadership change | Z″ not coveredF 7/9accruals -2.1% |
| Weyerhaeuser Co $WY | 1.79% | quiet · leadership change | Z″ not coveredF 4/9accruals -1.4% |
| Kimco Realty Corp $KIM | 1.77% | quiet · leadership change | Z″ not coveredF 7/7accruals -2.8% |
| Invitation Homes Inc $INVH | 1.71% | quiet · leadership change | Z″ not coveredF 6/7accruals -3.3% |
| Mid-America Apartment Communities Inc $MAA | 1.68% | quiet | Z″ not coveredF 5/7accruals -5.3% |
| Host Hotels & Resorts Inc $HST | 1.56% | quiet | Z″ not coveredF 6/7accruals -5.7% |
| Healthpeak Properties Inc $DOC | 1.53% | quiet | Z″ not coveredF 4/7accruals -5.9% |
| Regency Centers Corp $REG | 1.36% | quiet · leadership change | Z″ not coveredF 5/6accruals -2.4% |
| UDR Inc $UDR | 1.22% | quiet · leadership change | Z″ not coveredF 6/7accruals -4.9% |
| CoStar Group Inc $CSGP | 1.20% | quiet · leadership change | Z″ 5.57 safeF 5/9accruals -4.3% |
| Camden Property Trust $CPT | 1.19% | quiet · leadership change | Z″ not coveredF 7/8accruals -4.9% |
| BXP Inc $BXP | 1.02% | Material impairment · leadership change | Z″ not coveredF 6/8accruals -3.7% |
| Federal Realty Investment Trust $FRT | 1.00% | quiet · leadership change | Z″ not coveredF 4/7accruals -2.4% |
| Alexandria Real Estate Equities Inc $ARE | 0.86% | quiet · leadership change | Z″ not coveredF 4/7accruals -7.9% |
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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