Fund · State Street(R) Health Care Select Sector SPDR(R) ETF · measured from SEC filings
XLV holdings
XLV reports 64 holdings and behaves like 16.3 equally weighted ones, computed from its SEC Form N-PORT filing for 2026-06-30. The fact sheet publishes the first number; this page computes the second, and traces it across 28 quarters of filings.
Measured concentration
as of 2026-06-30Computed by this site from the fund's SEC Form N-PORT filing; what the measure does not tell you · every fund in one table · hold it with other funds? X-ray the mix. Pricing: 100% at a quoted market price (level 1), 2 issuer countries.
What stands out
as of 2026-06-30XLV's largest investment is Eli Lilly & Co at 16.51% of net assets. Johnson & Johnson and AbbVie Inc follow; the three together are 34.89%. Ten companies are 61.59% of the fund; the other 54 share the rest. Among the 721 equity funds measured here, XLV behaves like 16.3 holdings against a median of 42.4 — 2.6 times more concentrated than the median. Across 28 quarterly filings XLV has become more concentrated: it behaved like 27.1 at 2019-09-30 and 16.3 at 2026-06-30. Between the 2026-03-31 and 2026-06-30 filings 3 positions were added and 1 dropped; 8.0% of the weight moved.
Each sentence is read from the fund's own SEC filing; the class median is computed across the comparable equity funds on this site. Nothing here is a view on the fund.
Every filing since 2019
28Between 2019-09-30 and 2026-06-30, XLV went from behaving like 27.1 equally weighted positions to 16.3 — 40% fewer, while its top ten went from 50.21% to 61.59% of net assets. Read across the funds on the concentration-over-time table.
| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2026-06-30 | 64 | 16.3 | 61.59% | 16.52% |
| 2026-03-31 | 61 | 18.7 | 59.15% | 13.75% |
| 2025-12-31 | 62 | 18.8 | 58.44% | 15.2% |
| 2025-09-30 | 62 | 21.2 | 56.5% | 11.99% |
| 2025-06-30 | 61 | 22.2 | 54.82% | 12.53% |
| 2025-03-31 | 62 | 20.8 | 57.19% | 12.23% |
| 2024-12-31 | 63 | 21.3 | 57% | 12.09% |
| 2024-09-30 | 63 | 21 | 57.06% | 12.36% |
Earlier filings (20 more, back to 2019-09-30)
| Period | Holdings | Effective | Top 10 | Largest |
|---|---|---|---|---|
| 2024-06-30 | 64 | 20.8 | 56.58% | 13.44% |
| 2024-03-31 | 65 | 23 | 54.96% | 11.33% |
| 2023-12-31 | 65 | 24.1 | 54.26% | 9.63% |
| 2023-09-30 | 66 | 23.8 | 55.19% | 9.72% |
| 2023-06-30 | 66 | 25.3 | 53.49% | 8.97% |
| 2023-03-31 | 66 | 25.9 | 53.55% | 9.05% |
| 2022-12-31 | 64 | 23.9 | 55.75% | 9.74% |
| 2022-09-30 | 65 | 23.5 | 55.92% | 10.37% |
| 2022-06-30 | 65 | 23.4 | 56.47% | 9.96% |
| 2022-03-31 | 66 | 26 | 52.65% | 9.21% |
| 2021-12-31 | 65 | 27 | 51.59% | 8.82% |
| 2021-09-30 | 65 | 28.9 | 49.42% | 8.77% |
| 2021-06-30 | 65 | 28.1 | 49.81% | 9.19% |
| 2021-03-31 | 64 | 26.9 | 50.65% | 9.88% |
| 2020-12-31 | 64 | 27.2 | 50.75% | 9.71% |
| 2020-09-30 | 64 | 26.6 | 51.63% | 9.88% |
| 2020-06-30 | 63 | 26.8 | 51.02% | 9.87% |
| 2020-03-31 | 61 | 25.8 | 51.5% | 10.45% |
| 2019-12-31 | 62 | 26.4 | 51.5% | 10.03% |
| 2019-09-30 | 63 | 27.1 | 50.21% | 10.11% |
One row per filed reporting period, newest first, read from EDGAR. Quarterly because that is the public filing cadence. Rows marked * are published but held out of the comparison above; the methodology page says when and why.
Compared with, in the essays
1Overlap with other funds
1Measured against every other fund on this site, from the same filings. Combined effective holdings is how the pair behaves held in equal size.
| With | Overlap | Shared | Combined effective |
|---|---|---|---|
| XLV vs VHT | 83.71% | 57 | 19.3 |
Largest positions, as filed
as of 2026-06-30The 15 largest of 64 positions in XLV's Form N-PORT, weight as a share of net assets, securities-lending collateral excluded. Every position, every quarter: XLV.csv.gz.
| # | Position | Weight | Cumulative |
|---|---|---|---|
| 1 | Eli Lilly & Co | 16.52% | 16.5% |
| 2 | Johnson & Johnson | 10.64% | 27.2% |
| 3 | AbbVie Inc | 7.74% | 34.9% |
| 4 | UnitedHealth Group Inc | 6.57% | 41.5% |
| 5 | Merck & Co Inc | 5.53% | 47.0% |
| 6 | Amgen Inc | 3.40% | 50.4% |
| 7 | Thermo Fisher Scientific Inc | 3.24% | 53.7% |
| 8 | Abbott Laboratories | 2.75% | 56.4% |
| 9 | Gilead Sciences Inc | 2.73% | 59.1% |
| 10 | Intuitive Surgical Inc | 2.45% | 61.6% |
| 11 | Pfizer Inc | 2.39% | 64.0% |
| 12 | CVS Health Corp | 2.30% | 66.3% |
| 13 | Vertex Pharmaceuticals Inc | 2.20% | 68.5% |
| 14 | Danaher Corp | 2.09% | 70.6% |
| 15 | Bristol-Myers Squibb Co | 2.05% | 72.6% |
By country of issuer
as of 2026-06-30Share of XLV's own investments by the issuer country the filer reported (incorporation, not revenue). Each country links to every fund that holds it.
| Country | Share |
|---|---|
| United States | 97.89% |
| Ireland° | 2.11% |
Returns the fund reported
2019-07 – 2026-06Monthly total returns from Item B.5 of XLV's own filings, 84 months on record. Not computed here and not from a price feed.
Cross-checked against a series computed separately from prices: median difference 0.04 percentage points over 84 months, which is roughly the distributions. Every month with the filing it came from: XLV.json · all funds.
Who borrows XLV's shares
2026-06-30The fund lends its holdings, and Item B.4.a of the filing names every firm holding them. At 2026-06-30, $312m was out to 8 borrowers, 0.77% of net assets. The largest, BARCLAYS BANK PLC, held 94.7% of it.
| Borrower | On loan | Share of the loan |
|---|---|---|
| BARCLAYS BANK PLC | $296m | 94.7% |
| UBS AG | $12m | 3.7% |
| Macquarie Bank Limited | $3m | 0.8% |
| Scotia Capital (USA) Inc | $1m | 0.5% |
| Natixis Securities Americas LLC | $459,504 | 0.1% |
Cash collateral reported against the loan: 0.01% of net assets, 1.3% of the amount lent. That is a floor on the collateral, not the whole of it — collateral the fund does not hold as a position is not in this filing, so a figure under 100% is not evidence of under-collateralisation. How that figure behaves across all funds. Every quarter XLV has filed, with each borrower: XLV.json · all funds.
Since the previous filing
2026-03-31 → 2026-06-3060 positions became 62: 3 added (0.5% of the fund at the later date), 1 dropped (0.3% at the earlier date). Half the sum of all weight changes, a turnover proxy: 8.0%. Positions are matched on identifiers, so a security whose identifier changed shows as one drop and one add. Every filing of XLV compared this way, as a feed: changes.xml · all funds: filings received.
| Largest increases | 2026-03-31 | 2026-06-30 | Largest decreases | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|
| Eli Lilly & Co | 13.75% | 16.52% | Boston Scientific Corp | 1.76% | 1.10% |
| UnitedHealth Group Inc | 4.62% | 6.57% | Intuitive Surgical Inc | 3.09% | 2.45% |
| CVS Health Corp | 1.72% | 2.30% | Pfizer Inc | 3.01% | 2.39% |
| AbbVie Inc | 7.25% | 7.74% | Abbott Laboratories | 3.37% | 2.75% |
| Humana Inc | 0.39% | 0.83% | Gilead Sciences Inc | 3.26% | 2.73% |
| Elevance Health Inc | 1.22% | 1.46% | Johnson & Johnson | 11.11% | 10.64% |
New: Veeva Systems Inc (0.46%), Chicago Mercantile Exchange (0.01%), CONTRA HOLOGIC INCORPO (0.00%). Gone: Hologic Inc (0.32%).
Asset categories and pricing
as of 2026-06-3099.73% equity, 0.26% short-term investment as filed; 100.0% carried at a quoted market price (fair-value level 1). Categories and levels are the filer's; what a low level-1 share does and does not mean is in the measure's page.
Derivative exposure and counterparties
as of 2026-06-30A position count cannot describe a fund that uses derivatives, because a swap is filed at its unrealised gain, not its exposure. These are the notionals the fund itself reported, against net assets of $40.60B. Notional of an interest-rate or currency swap is not equity exposure.
Full detail for every fund that files derivatives: leverage.json (CC BY 4.0).
Neighbours by effective holdings, equity funds
10Every measured equity fund lined up by how many holdings it behaves like; these sit either side of XLV (16.3). Same filings, same arithmetic. Position in this list says nothing about which fund is better.
| Fund | Reports | Behaves like | Top ten | As of |
|---|---|---|---|---|
| IYK iShares U.S. Consumer Staples ETF | 55 | 15.4 | 66.35% | 2026-07-31 |
| IYW iShares U.S. Technology ETF | 150 | 16 | 65.25% | 2026-07-31 |
| DTCR Global X Data Center & Digital Infrastructure ETF | 25 | 16.1 | 66.32% | 2026-05-31 |
| FAS Direxion Daily Financial Bull 3X Shares | 88 | 16.2 * | 59.29% | 2026-07-31 |
| XLK State Street(R) Technology Select Sector SPDR(R) ETF | 77 | 16.3 | 64.47% | 2026-06-30 |
| UAE iShares MSCI UAE ETF | 60 | 16.5 | 66.48% | 2026-05-31 |
| ITB iShares U.S. Home Construction ETF | 47 | 16.6 | 64.4% | 2026-06-30 |
| FLTW Franklin FTSE Taiwan ETF | 134 | 16.7 | 54.13% | 2026-06-30 |
| EMOP AB Emerging Markets Opportunities ETF | 57 | 16.7 | 55.77% | 2026-06-30 |
| JETS U.S. Global Jets ETF | 49 | 16.7 | 65.98% | 2026-06-30 |
Essays that examine XLV
1-
XLV vs VHT: Two Ways to Own Healthcare — Concentration, Fees, and Defensive Behavior
XLV holds roughly 60 large-cap S&P 500 healthcare names; VHT holds around 400 across the full U.S. cap spectrum — the same sector, two different portfolios....
Mentions are detected across the full text of every article, so an appearance may be a passing comparison rather than the subject. Nothing here is a recommendation to buy or sell — see the disclaimer.