The Australian Foundation Investment Co Ltd (ASX: AFI), or AFIC for short, has a long and proud history on the ASX.
It first opened its doors back in 1928 and has been following a very consistent playbook ever since. That playbook involves investing its capital into a portfolio of blue-chip ASX shares for the benefit of shareholders.
As a listed investment company (LIC), AFIC's only purpose is to invest on behalf of its shareholders. Unlike most shares, it is not a company that sells goods or provides services.
But how is AFIC's share portfolio looking these days? Let's take stock of which ASX shares appear in this LIC's portfolio.
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What's in the AFIC box?
AFIC hasn't provided any recent updates as to exactly how many ASX shares appear in its portfolio. But what we do know is that, as of 30 April, its top 25 positions accounted for 78.6% of its total portfolio value.
So here are AFIC's current top 10 positions:
- Commonwealth Bank of Australia (ASX: CBA) at 9.1% of AFIC's portfolio
- BHP Group Ltd (ASX: BHP) at 7.4%
- CSL Limited (ASX: CSL) at 7.2%
- Macquarie Group Ltd (ASX: MQG) at 5.1%
- Transurban Group (ASX: TCL) at 4.6%
- Westpac Banking Corp (ASX: WBC) at 4.1%
- Wesfarmers Ltd (ASX: WES) at 4%
- National Australia Bank Ltd (ASX: NAB) at 4%
- Woolworths Group Ltd (ASX: WOW) at 3.1%
- Mainfreight Limited (NZE: MFT) at 2.7%
With a few exceptions, this list is very similar in nature to that of the broader S&P/ASX 200 Index (ASX: XJO) itself.
Notably, AFIC's portfolio gives less weighting to the big four ASX bank shares in favour of Macquarie and Transurban.
It also holds a New Zealand company in Mainfreight, which is obviously not an ASX share. But these departures from the ASX 200 have historically enabled AFIC to deliver some fairly consistent outperformance of the ASX 200 over long periods of time. So no doubt shareholders won't mind.
At the current AFIC share price, this ASX LIC has a market capitalisation of $9.8 billion, with a dividend yield of 3.01%
