SPY Holdings June 2026: Top 10 Stocks and Full Sector Weights
Current as of June 18, 2026 — NVIDIA leads at 7.89% in the $791 billion SPY ETF
Updated June 2026Expert ReviewedInvestSnips Data
505Total Holdings
$791 BillionAssets Under Management
0.09%Expense Ratio
$62 BillionAverage Daily Trading Volume
For informational purposes only. Not investment advice. Data from public ETF filings updated regularly.
The SPY ETF‘s top holding is NVIDIA Corp (NVDA) at 7.89%, followed by Apple Inc (AAPL) at 7.05% and Microsoft Corp (MSFT) at 5.14% as of June 18, 2026.
This page delivers the complete top 10 holdings list, full sector breakdown, and critical structural details that Yahoo Finance, SSGA, and StockAnalysis.com leave out — including why SPY’s Unit Investment Trust structure creates cash drag and prevents securities lending revenue that lowers fees for VOO and IVV.
Key Facts
What You Need to Know
01The No-Lending Rule Costs SPY Investors
Unlike VOO and IVV, SPY is structured as a Unit Investment Trust that cannot lend its shares to short sellers. This eliminates counterparty risk but also means SPY forgoes securities lending revenue that helps competitors offset their expenses. The result is SPY’s higher 0.09% expense ratio versus 0.03% for VOO and SPLG.
02Cash Drag in Bull Markets
As a UIT, SPY cannot reinvest dividends immediately. Cash from dividends sits in a non-interest-bearing account until the quarterly payout. In rising markets this cash drag causes SPY to slightly underperform open-ended ETFs like IVV and VOO that reinvest dividends right away.
03Liquidity King for Traders
SPY trades roughly $62 billion daily — far more than VOO or IVV. This massive liquidity delivers penny-wide spreads that save institutions and options traders far more than the 0.06% extra expense ratio costs. For anyone holding less than one year or trading options, SPY remains the superior choice.
04Why Retail Investors Should Consider SPLG or VOO
For buy-and-hold retirement accounts longer than one year, SPLG (0.02-0.03% fee) or VOO deliver nearly identical S&P 500 exposure with lower costs and automatic dividend reinvestment. SPY’s advantages shine mainly for active traders who value its unmatched liquidity.
Portfolio
SPY Holdings June 2026: Top 10 Stocks and Full Sector Weights — Top Holdings
Click any column to sort. Holdings and weights updated June 2026.
#
Company
Ticker
Weight %
Sector
1
NVIDIA Corp
NVDA
7.89%
Information Technology
2
Apple Inc.
AAPL
7.05%
Information Technology
3
Microsoft Corp
MSFT
5.14%
Information Technology
4
Amazon.com Inc
AMZN
4.07%
Consumer Discretionary
5
Alphabet Inc. Class A
GOOGL
3.41%
Communication Services
6
Broadcom Inc
AVGO
3.26%
Information Technology
7
Alphabet Inc. Class C
GOOG
2.71%
Communication Services
8
Meta Platforms Inc
META
2.13%
Communication Services
9
Tesla Inc
TSLA
1.88%
Consumer Discretionary
10
Micron Technology Inc
MU
1.68%
Information Technology
Source: ETF issuer public filings. Weights approximate and subject to change.
Allocation
Sector Breakdown
Sector
Weight %
Information Technology
38.01%
Financials
11.75%
Communication Services
10.11%
Consumer Discretionary
9.40%
Industrials
8.58%
Health Care
8.51%
Consumer Staples
4.70%
Energy
3.09%
Utilities
2.13%
Materials
1.89%
Real Estate
1.85%
Common Questions
Frequently Asked Questions
The SPY ETF holds 505 stocks that make up the S&P 500 index, including multiple share classes such as GOOGL and GOOG. The largest position is NVIDIA Corp at 7.89% while the smallest holdings are under 0.01% each. Full daily holdings are available from State Street but the top 10 positions represent approximately 39% of the fund as of June 18, 2026.
As of June 18, 2026 the top 10 holdings are NVIDIA 7.89%, Apple 7.05%, Microsoft 5.14%, Amazon 4.07%, Alphabet A 3.41%, Broadcom 3.26%, Alphabet C 2.71%, Meta 2.13%, Tesla 1.88%, and Micron 1.68%. These weights fluctuate daily with market movements and the next rebalance occurs June 19, 2026. Information Technology dominates the top 10 with six positions.
Yes, SPY pays dividends quarterly. Because of its Unit Investment Trust structure, dividends received from underlying stocks are held as cash until the distribution date rather than being reinvested immediately. This creates minor cash drag in strong bull markets compared to VOO and IVV. The current yield sits near the S&P 500 average.
SPY is better for short-term traders and options players due to its $62 billion average daily volume and tight spreads. VOO is better for long-term buy-and-hold investors because of its 0.03% expense ratio versus SPY’s 0.09% and its ability to reinvest dividends immediately. For retirement accounts held more than one year, VOO or SPLG typically deliver slightly better net performance.
SPY rebalances quarterly to match the S&P 500 index changes. The last rebalance occurred in March 2026 with the next one scheduled for June 19, 2026. Individual stock weights shift daily with price movements but the fund only makes significant adjustments during these quarterly events to minimize tracking error and transaction costs.
Information Technology holds the heaviest weight in SPY at 38.01% as of June 18, 2026. This reflects the S&P 500’s tilt toward large technology companies including NVIDIA, Apple, Microsoft, Broadcom, and others. Financials rank second at 11.75% while Real Estate has the smallest allocation at 1.85%.
SPY charges 0.09% annually, which equals $9 per year on a $10,000 investment. This is higher than VOO and IVV at 0.03% primarily because SPY cannot earn securities lending revenue due to its Unit Investment Trust structure. For high-volume traders the liquidity savings easily outweigh the extra 0.06% cost.
No, SPY does not reinvest dividends automatically. As a Unit Investment Trust it must hold dividend cash in a non-interest-bearing account until the quarterly distribution to shareholders. This differs from open-ended ETFs like VOO and IVV that can reinvest dividends immediately, creating a small performance difference known as cash drag during bull markets.
Last updated June 2026 · InvestSnips Editorial · Data from public ETF filings
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