Guardfolio Research · ETF Concentration
XLK ETF Concentration: Top 10 Holds 60.8%
XLK (Technology Select Sector SPDR Fund) has an HHI of 590.81 and about 16.93 effective positions as of 2026-08-22. The largest holding is about 14.4%; the Top 10 sum to 60.8%, led by NVDA, AAPL, MSFT, AVGO, MU. The Technology Select Sector SPDR packs mega-cap tech into a short holdings list, so Top 10 weight rises fast.
Concentration Snapshot
Band
Very high concentration versus the Guardfolio 22-fund ETF set. Peer context: VGT HHI 750.94; VUG HHI 565.32; IWF HHI 470.26.
The Data
XLK top holdings and concentration math
Weights are normalized from licensed full holdings. HHI is the sum of squared percentage weights. Effective positions = 10,000 / HHI. This page is part of Guardfolio's concentration cluster, separate from ETF overlap pair pages.
| Provider | Financial Modeling Prep |
|---|---|
| Fund date | 2026-08-22 |
| Holdings counted | 73 |
| Top 3 / Top 5 | 36.7% / 45.5% |
| Holding | Weight |
|---|---|
| NVIDIA CORP (NVDA) | 14.4% |
| APPLE INC (AAPL) | 12.5% |
| MICROSOFT CORP (MSFT) | 9.8% |
| BROADCOM INC (AVGO) | 4.7% |
| MICRON TECHNOLOGY INC (MU) | 4.1% |
| ADVANCED MICRO DEVICES (AMD) | 4.0% |
| INTEL CORP (INTC) | 3.0% |
| CISCO SYSTEMS INC (CSCO) | 2.9% |
| PALANTIR TECHNOLOGIES INC A (PLTR) | 2.7% |
| APPLIED MATERIALS INC (AMAT) | 2.6% |
Educational snapshot only. Holdings and weights change. HHI does not measure return correlation or future risk.
Why it matters
Concentration vs overlap for XLK holders
The Technology Select Sector SPDR packs mega-cap tech into a short holdings list, so Top 10 weight rises fast. If you also hold QQQ, VUG, IWF or a megacap stock, look-through exposure can stack even when fund labels look different. After this page, check pairwise overlap and the portfolio concentration calculator.
ETF overlap checker · Concentration risk hub · Portfolio X-Ray
FAQ
XLK concentration: common questions
How concentrated is XLK?
XLK has an HHI of 590.81 and about 16.93 effective positions based on licensed full holdings dated 2026-08-22. The largest holding is about 14.4% and the Top 10 holdings sum to about 60.8%.
What are the largest holdings in XLK?
The largest contributors include NVIDIA CORP (NVDA) 14.4%; APPLE INC (AAPL) 12.5%; MICROSOFT CORP (MSFT) 9.8%; BROADCOM INC (AVGO) 4.7%; MICRON TECHNOLOGY INC (MU) 4.1%; ADVANCED MICRO DEVICES (AMD) 4.0%; INTEL CORP (INTC) 3.0%; CISCO SYSTEMS INC (CSCO) 2.9%.
Is XLK more concentrated than the S&P 500?
Yes on this snapshot. XLK's HHI of 590.81 sits above broad S&P 500 wrappers in the Guardfolio 22-fund set. Compare Top 10 weight (60.8%) with SPY/VOO on the concentration benchmarks page.
Does concentration mean XLK overlaps with other ETFs?
Concentration measures how much weight sits in a few names inside one fund. Overlap measures shared holdings across two funds. A concentrated ETF can still pair badly with another fund that owns the same megacaps. Check the ETF overlap checker after you review concentration.
Related concentration pages