SMSFs take profits in miners, rotate to banks

Binaya Dahal

Journalist

9 June 2026

Self-managed super funds (SMSFs) with advisers took profits in major mining and energy stocks in May, according to trading data from AUSIEX, while increasing exposure to banks, healthcare and exchange-traded funds.

The data from the platform, which captures around a third of Australia’s wholesale trading activity, shows a clear shift in positioning last month away from resource exposure and towards financials and diversified index strategies.

The most actively traded stock was BHP Group, with selling outweighing buying even as the miner’s shares reached record highs. Advisers and SMSF investors accounted for a significant share of activity, representing close to a quarter of the firm’s total dollar value traded over the month.

Profit-taking extended across the sector, with Woodside Energy, Fortescue, Pilbara Minerals and Liontown Resources all recording net outflows as investors locked in gains following strong commodity-driven rallies.

“Although mining and energy blue chips saw some selling, we did see overall buys for names such as CSL, Commonwealth Bank of Australia, Westpac Banking Corporation and National Australia Bank,” said Chris Hill, national director of distribution at AUSIEX.

He added that smaller growth resources and technology names also attracted net buying interest among SMSF investors over the period, suggesting selective risk-taking remained in parts of the market.

The rotation was most evident in banks, with ANZ Group joining the other major lenders among the most actively traded SMSF stocks, and all four majors recording net buying flows as investors increased exposure to domestic credit and dividend yield strategies.

Exchange-traded funds tracking Australian equities, global shares and listed property securities also saw increased demand, particularly among advised SMSFs seeking to diversify beyond concentrated single-stock positions.

Across all investors on the AUSIEX platform, the most traded stocks in May were BHP Group, CSL and Commonwealth Bank of Australia, followed by DroneShield, Westpac Banking Corporation, Woodside Energy, 4D Medical, WiseTech Global, Fortescue and National Australia Bank.