Semi-Annual Report
December 31, 2021
SPDR® Series Trust - Equity Funds
SPDR FactSet Innovative Technology ETF
SPDR Global Dow ETF
SPDR MSCI USA StrategicFactorsSM ETF
SPDR NYSE Technology ETF
SPDR S&P 500® Fossil Fuel Reserves Free ETF
SPDR S&P Capital Markets ETF
SPDR S&P Health Care Equipment ETF
SPDR S&P Health Care Services ETF
SPDR S&P Insurance ETF
SPDR S&P Internet ETF
SPDR S&P Metals & Mining ETF
SPDR S&P Oil & Gas Equipment & Services ETF
SPDR S&P Pharmaceuticals ETF
SPDR S&P Retail ETF
SPDR S&P Semiconductor ETF
SPDR S&P Software & Services ETF
SPDR S&P Telecom ETF
SPDR S&P Transportation ETF
SPDR SSGA Gender Diversity Index ETF
SPDR ICE Preferred Securities ETF
The information contained in this report is intended for the general information of shareholders of the Trust. This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current Trust prospectus which contains important information concerning the Trust. You may obtain a current prospectus and SAI from the Distributor by calling 1-866-787-2257 or visiting https://www.ssga.com/spdrs. Please read the prospectus carefully before you invest.





TABLE OF CONTENTS (Unaudited)
Portfolio Statistics (Unaudited)  

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The information contained in this report is intended for the general information of shareholders of the Trust. This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current Trust prospectus which contains important information concerning the Trust. You may obtain a current prospectus and SAI from the Distributor by calling 1-866-787-2257 or visiting https://www.ssga.com/spdrs. Please read the prospectus carefully before you invest.


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Table of Contents
SPDR FactSet Innovative Technology ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  Tenable Holdings, Inc. 1.2%  
  Digital Turbine, Inc. 1.2  
  CyberArk Software, Ltd. 1.2  
  ACM Research, Inc. Class A 1.1  
  Duolingo, Inc. 1.1  
  Onto Innovation, Inc. 1.1  
  Asana, Inc. Class A 1.1  
  Smartsheet, Inc. Class A 1.1  
  LendingTree, Inc. 1.1  
  OptimizeRx Corp. 1.1  
  TOTAL 11.3%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of December 31, 2021

     
    % of Net Assets  
  Software 46.7%  
  Interactive Media & Services 15.2  
  Entertainment 8.8  
  Semiconductors & Semiconductor Equipment 8.4  
  Health Care Technology 4.8  
  IT Services 3.0  
  Consumer Finance 2.1  
  Communications Equipment 2.0  
  Real Estate Management & Development 2.0  
  Internet & Direct Marketing Retail 1.9  
  Diversified Consumer Services 1.1  
  Electronic Equipment, Instruments & Components 1.1  
  Media 1.0  
  Commercial Services & Supplies 1.0  
  Household Durables 0.9  
  Short-Term Investments 3.6  
  Liabilities in Excess of Other Assets (3.6)  
  TOTAL 100.0%  
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
1


Table of Contents
SPDR Global Dow ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  Tesla, Inc. 0.9%  
  HP, Inc. 0.9  
  Pfizer, Inc. 0.9  
  ConocoPhillips 0.8  
  QUALCOMM, Inc. 0.8  
  Home Depot, Inc. 0.8  
  UnitedHealth Group, Inc. 0.8  
  Simon Property Group, Inc. REIT 0.8  
  CVS Health Corp. 0.8  
  MTN Group, Ltd. 0.8  
  TOTAL 8.3%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
See accompanying notes to financial statements.
2


Table of Contents
SPDR MSCI USA StrategicFactorsSM ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  Apple, Inc. 3.0%  
  Microsoft Corp. 2.9  
  Johnson & Johnson 2.2  
  Meta Platforms, Inc. Class A 2.0  
  UnitedHealth Group, Inc. 1.9  
  Visa, Inc. Class A 1.6  
  NVIDIA Corp. 1.6  
  Cisco Systems, Inc. 1.5  
  Alphabet, Inc. Class C 1.5  
  Accenture PLC Class A 1.5  
  TOTAL 19.7%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of December 31, 2021

     
    % of Net Assets  
  Information Technology 29.2%  
  Health Care 17.3  
  Financials 11.4  
  Communication Services 10.1  
  Industrials 7.8  
  Consumer Staples 7.4  
  Consumer Discretionary 7.1  
  Utilities 4.0  
  Materials 2.0  
  Real Estate 1.8  
  Energy 1.8  
  Short-Term Investments 0.1  
  Other Assets in Excess of Liabilities 0.0 *  
  TOTAL 100.0%  
* Amount shown represents less than 0.05% of net assets.    
(The Fund's sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
3


Table of Contents
SPDR NYSE Technology ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  Uber Technologies, Inc. 3.3%  
  Micron Technology, Inc. 3.1  
  Booking Holdings, Inc. 3.1  
  International Business Machines Corp. 3.1  
  Cisco Systems, Inc. 3.1  
  Broadcom, Inc. 3.1  
  Tesla, Inc. 3.0  
  Advanced Micro Devices, Inc. 3.0  
  Applied Materials, Inc. 3.0  
  ASML Holding NV 3.0  
  TOTAL 30.8%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of December 31, 2021

     
    % of Net Assets  
  Semiconductors & Semiconductor Equipment 32.4%  
  Software 16.2  
  IT Services 8.5  
  Interactive Media & Services 8.5  
  Entertainment 8.1  
  Internet & Direct Marketing Retail 8.1  
  Hotels, Restaurants & Leisure 5.8  
  Road & Rail 3.3  
  Communications Equipment 3.1  
  Automobiles 3.0  
  Technology Hardware, Storage & Peripherals 2.9  
  Short-Term Investments 2.0  
  Liabilities in Excess of Other Assets (1.9)  
  TOTAL 100.0%  
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
4


Table of Contents
SPDR S&P 500 Fossil Fuel Reserves Free ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  Apple, Inc. 7.0%  
  Microsoft Corp. 6.4  
  Amazon.com, Inc. 3.7  
  Alphabet, Inc. Class A 2.2  
  Tesla, Inc. 2.2  
  Alphabet, Inc. Class C 2.0  
  Meta Platforms, Inc. Class A 2.0  
  NVIDIA Corp. 1.9  
  Berkshire Hathaway, Inc. Class B 1.4  
  UnitedHealth Group, Inc. 1.2  
  TOTAL 30.0%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of December 31, 2021

     
    % of Net Assets  
  Information Technology 29.7%  
  Health Care 13.6  
  Consumer Discretionary 12.8  
  Financials 10.8  
  Communication Services 10.4  
  Industrials 8.0  
  Consumer Staples 6.0  
  Real Estate 2.8  
  Materials 2.6  
  Utilities 2.5  
  Energy 0.7  
  Short-Term Investments 0.1  
  Other Assets in Excess of Liabilities 0.0 *  
  TOTAL 100.0%  
* Amount shown represents less than 0.05% of net assets.    
(The Fund's sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
5


Table of Contents
SPDR S&P Capital Markets ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  B Riley Financial, Inc. 1.9%  
  Piper Sandler Cos. 1.8  
  MarketAxess Holdings, Inc. 1.8  
  Artisan Partners Asset Management, Inc. Class A 1.8  
  Morningstar, Inc. 1.8  
  Virtu Financial, Inc. Class A 1.7  
  Tradeweb Markets, Inc. Class A 1.7  
  Moelis & Co. Class A 1.7  
  Federated Hermes, Inc. 1.7  
  FactSet Research Systems, Inc. 1.7  
  TOTAL 17.6%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of December 31, 2021

     
    % of Net Assets  
  Asset Management & Custody Banks 43.6%  
  Investment Banking & Brokerage 32.8  
  Financial Exchanges & Data 23.4  
  Short-Term Investments 0.3  
  Liabilities in Excess of Other Assets (0.1)  
  TOTAL 100.0%  
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
6


Table of Contents
SPDR S&P Health Care Equipment ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  iRhythm Technologies, Inc. 1.6%  
  ABIOMED, Inc. 1.5  
  Penumbra, Inc. 1.4  
  Avanos Medical, Inc. 1.4  
  Ortho Clinical Diagnostics Holdings PLC 1.4  
  Inari Medical, Inc. 1.4  
  Tandem Diabetes Care, Inc. 1.4  
  Neogen Corp. 1.4  
  Varex Imaging Corp. 1.4  
  Figs, Inc. Class A 1.4  
  TOTAL 14.3%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of December 31, 2021

     
    % of Net Assets  
  Health Care Equipment 74.5%  
  Health Care Supplies 25.4  
  Short-Term Investments 2.9  
  Liabilities in Excess of Other Assets (2.8)  
  TOTAL 100.0%  
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
7


Table of Contents
SPDR S&P Health Care Services ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  Fulgent Genetics, Inc. 1.8%  
  agilon health, Inc. 1.8  
  Privia Health Group, Inc. 1.8  
  AdaptHealth Corp. 1.7  
  Option Care Health, Inc. 1.7  
  Covetrus, Inc. 1.7  
  AMN Healthcare Services, Inc. 1.7  
  Laboratory Corp. of America Holdings 1.6  
  HealthEquity, Inc. 1.6  
  Quest Diagnostics, Inc. 1.6  
  TOTAL 17.0%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of December 31, 2021

     
    % of Net Assets  
  Health Care Services 48.6%  
  Health Care Facilities 20.9  
  Managed Health Care 15.9  
  Health Care Distributors 14.5  
  Short-Term Investments 2.5  
  Liabilities in Excess of Other Assets (2.4)  
  TOTAL 100.0%  
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
8


Table of Contents
SPDR S&P Insurance ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  Allstate Corp. 2.3%  
  Progressive Corp. 2.2  
  Reinsurance Group of America, Inc. 2.2  
  Brown & Brown, Inc. 2.2  
  American International Group, Inc. 2.2  
  Fidelity National Financial, Inc. 2.2  
  Assured Guaranty, Ltd. 2.2  
  MetLife, Inc. 2.1  
  First American Financial Corp. 2.1  
  Arch Capital Group, Ltd. 2.1  
  TOTAL 21.8%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of December 31, 2021

     
    % of Net Assets  
  Property & Casualty Insurance 45.5%  
  Life & Health Insurance 24.5  
  Insurance Brokers 14.1  
  Reinsurance 9.4  
  Multi-line Insurance 6.4  
  Short-Term Investments 1.0  
  Liabilities in Excess of Other Assets (0.9)  
  TOTAL 100.0%  
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
9


Table of Contents
SPDR S&P Internet ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  GoDaddy, Inc. Class A 2.1%  
  Chewy, Inc. Class A 2.1  
  Eventbrite, Inc. Class A 2.0  
  Switch, Inc. Class A 1.9  
  MongoDB, Inc. 1.9  
  Ziff Davis, Inc. 1.9  
  VeriSign, Inc. 1.9  
  Groupon, Inc. 1.9  
  Akamai Technologies, Inc. 1.9  
  TripAdvisor, Inc. 1.9  
  TOTAL 19.5%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of December 31, 2021

     
    % of Net Assets  
  Internet & Direct Marketing Retail 38.1%  
  Interactive Media & Services 33.3  
  Internet Services & Infrastructure 28.6  
  Short-Term Investments 8.1  
  Liabilities in Excess of Other Assets (8.1)  
  TOTAL 100.0%  
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
10


Table of Contents
SPDR S&P Metals & Mining ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  Alcoa Corp. 5.2%  
  Newmont Corp. 4.7  
  Freeport-McMoRan, Inc. 4.6  
  Arch Resources, Inc. 4.6  
  Peabody Energy Corp. 4.6  
  Cleveland-Cliffs, Inc. 4.6  
  Royal Gold, Inc. 4.5  
  Commercial Metals Co. 4.5  
  United States Steel Corp. 4.4  
  Steel Dynamics, Inc. 4.4  
  TOTAL 46.1%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of December 31, 2021

     
    % of Net Assets  
  Steel 40.2%  
  Coal & Consumable Fuels 15.4  
  Aluminum 13.8  
  Gold 13.1  
  Diversified Metals & Mining 7.3  
  Silver 5.5  
  Copper 4.6  
  Short-Term Investments 0.4  
  Liabilities in Excess of Other Assets (0.3)  
  TOTAL 100.0%  
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
11


Table of Contents
SPDR S&P Oil & Gas Equipment & Services ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  Valaris, Ltd. 5.1%  
  Nov, Inc. 4.7  
  Schlumberger NV 4.6  
  Cactus, Inc. Class A 4.6  
  Halliburton Co. 4.6  
  Helmerich & Payne, Inc. 4.6  
  Baker Hughes Co. 4.5  
  Patterson-UTI Energy, Inc. 4.5  
  Liberty Oilfield Services, Inc. Class A 4.4  
  Oceaneering International, Inc. 4.4  
  TOTAL 46.0%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of December 31, 2021

     
    % of Net Assets  
  Oil & Gas Equipment & Services 74.9%  
  Oil & Gas Drilling 25.1  
  Short-Term Investments 6.1  
  Liabilities in Excess of Other Assets (6.1)  
  TOTAL 100.0%  
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
12


Table of Contents
SPDR S&P Pharmaceuticals ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  Eli Lilly & Co. 4.8%  
  Pfizer, Inc. 4.7  
  Atea Pharmaceuticals, Inc. 4.7  
  Bristol-Myers Squibb Co. 4.7  
  Viatris, Inc. 4.5  
  Perrigo Co. PLC 4.5  
  Organon & Co. 4.5  
  Merck & Co., Inc. 4.5  
  Royalty Pharma PLC Class A 4.5  
  Zoetis, Inc. 4.4  
  TOTAL 45.8%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of December 31, 2021

     
    % of Net Assets  
  Pharmaceuticals 99.9%  
  Short-Term Investments 5.9  
  Liabilities in Excess of Other Assets (5.8)  
  TOTAL 100.0%  
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
13


Table of Contents
SPDR S&P Retail ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  Rite Aid Corp. 1.1%  
  Chewy, Inc. Class A 1.1  
  Citi Trends, Inc. 1.1  
  Leslie's, Inc. 1.1  
  Sprouts Farmers Market, Inc. 1.1  
  Victoria's Secret & Co. 1.1  
  Nordstrom, Inc. 1.1  
  Dollar General Corp. 1.1  
  Murphy USA, Inc. 1.1  
  Walgreens Boots Alliance, Inc. 1.0  
  TOTAL 10.9%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of December 31, 2021

     
    % of Net Assets  
  Internet & Direct Marketing Retail 20.7%  
  Apparel Retail 19.3  
  Automotive Retail 18.1  
  Specialty Stores 16.6  
  Food Retail 6.1  
  General Merchandise Stores 5.6  
  Department Stores 3.9  
  Computer & Electronics Retail 3.7  
  Hypermarkets & Super Centers 3.6  
  Drug Retail 2.2  
  Short-Term Investments 5.5  
  Liabilities in Excess of Other Assets (5.3)  
  TOTAL 100.0%  
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
14


Table of Contents
SPDR S&P Semiconductor ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  SMART Global Holdings, Inc. 3.0%  
  Micron Technology, Inc. 2.8  
  Allegro MicroSystems, Inc. 2.8  
  Power Integrations, Inc. 2.8  
  Broadcom, Inc. 2.7  
  Universal Display Corp. 2.7  
  ON Semiconductor Corp. 2.7  
  Advanced Micro Devices, Inc. 2.7  
  Synaptics, Inc. 2.7  
  Silicon Laboratories, Inc. 2.7  
  TOTAL 27.6%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of December 31, 2021

     
    % of Net Assets  
  Semiconductors 99.9%  
  Short-Term Investment 1.3  
  Liabilities in Excess of Other Assets (1.2)  
  TOTAL 100.0%  
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
15


Table of Contents
SPDR S&P Software & Services ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  TaskUS, Inc. Class A 0.6%  
  Jamf Holding Corp. 0.6  
  Confluent, Inc. Class A 0.6  
  Tenable Holdings, Inc. 0.6  
  Citrix Systems, Inc. 0.6  
  Clear Secure, Inc. Class A 0.6  
  Digital Turbine, Inc. 0.6  
  Activision Blizzard, Inc. 0.6  
  Payoneer Global, Inc. 0.5  
  Black Knight, Inc. 0.5  
  TOTAL 5.8%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of December 31, 2021

     
    % of Net Assets  
  Application Software 54.5%  
  Data Processing & Outsourced Services 20.0  
  Systems Software 16.1  
  IT Consulting & Other Services 5.9  
  Interactive Home Entertainment 3.4  
  Short-Term Investments 4.2  
  Liabilities in Excess of Other Assets (4.1)  
  TOTAL 100.0%  
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
16


Table of Contents
SPDR S&P Telecom ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  Calix, Inc. 3.4%  
  Arista Networks, Inc. 3.2  
  AT&T, Inc. 3.1  
  Cisco Systems, Inc. 3.1  
  F5, Inc. 3.1  
  Viavi Solutions, Inc. 3.1  
  Juniper Networks, Inc. 3.1  
  Lumentum Holdings, Inc. 3.1  
  Ciena Corp. 3.1  
  Ubiquiti, Inc. 3.1  
  TOTAL 31.4%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of December 31, 2021

     
    % of Net Assets  
  Communications Equipment 53.7%  
  Diversified Telecommunication Services 36.9  
  Wireless Telecommunication Services 9.3  
  Short-Term Investments 8.4  
  Liabilities in Excess of Other Assets (8.3)  
  TOTAL 100.0%  
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
17


Table of Contents
SPDR S&P Transportation ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  Uber Technologies, Inc. 2.4%  
  ArcBest Corp. 2.3  
  Wheels Up Experience, Inc. 2.3  
  Lyft, Inc. Class A 2.3  
  Atlas Air Worldwide Holdings, Inc. 2.3  
  Joby Aviation, Inc. 2.3  
  Matson, Inc. 2.3  
  GXO Logistics, Inc. 2.2  
  Schneider National, Inc. Class B 2.2  
  FedEx Corp. 2.2  
  TOTAL 22.8%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of December 31, 2021

     
    % of Net Assets  
  Trucking 35.8%  
  Airlines 30.4  
  Air Freight & Logistics 18.8  
  Marine 8.5  
  Railroads 6.5  
  Short-Term Investments 0.4  
  Liabilities in Excess of Other Assets (0.4)  
  TOTAL 100.0%  
(The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
18


Table of Contents
SPDR SSGA Gender Diversity Index ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  UnitedHealth Group, Inc. 5.5%  
  salesforce.com, Inc. 4.7  
  Visa, Inc. Class A 4.6  
  Netflix, Inc. 4.5  
  Walt Disney Co. 4.4  
  Intuit, Inc. 3.5  
  PayPal Holdings, Inc. 3.3  
  NIKE, Inc. Class B 3.1  
  Merck & Co., Inc. 2.3  
  Shopify, Inc. Class A 2.1  
  TOTAL 38.0%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of December 31, 2021

     
    % of Net Assets  
  Information Technology 30.3%  
  Health Care 13.6  
  Consumer Discretionary 12.1  
  Communication Services 10.5  
  Industrials 9.1  
  Financials 8.1  
  Consumer Staples 5.1  
  Real Estate 3.5  
  Materials 2.8  
  Energy 2.6  
  Utilities 2.2  
  Short-Term Investments 1.1  
  Liabilities in Excess of Other Assets (1.0)  
  TOTAL 100.0%  
(The Fund's sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
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Table of Contents
SPDR ICE Preferred Securities ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2021

     
  Description % of Net Assets  
  Citigroup Capital XIII
6.50% 10/30/2040
3.0%  
  Capital One Financial Corp.
5.00% 1/12/2167
1.9  
  PNC Financial Services Group, Inc.
6.13% 5/1/2022
1.8  
  AT&T, Inc.
5.35% 11/1/2066
1.6  
  Capital One Financial Corp.
4.80% 6/1/2025
1.5  
  Allstate Corp.
5.10% 10/15/2168
1.5  
  US Bancorp
6.50% 1/15/2022
1.3  
  Duke Energy Corp.
5.75% 9/16/2167
1.3  
  Southern Co.
4.95% 1/30/2080
1.3  
  MetLife, Inc.
4.75% 3/15/2025
1.3  
  TOTAL 16.5%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of December 31, 2021

     
    % of Net Assets  
  Financials 74.0%  
  Utilities 13.0  
  Real Estate 7.3  
  Communication Services 4.7  
  Industrials 0.7  
  Short-Term Investments 13.8  
  Liabilities in Excess of Other Assets (13.5)  
  TOTAL 100.0%  
(The Fund's sector breakdown is expressed as a percentage of net assets and may change over time.)
See accompanying notes to financial statements.
20


Table of Contents
SPDR FACTSET INNOVATIVE TECHNOLOGY ETF
SCHEDULE OF INVESTMENTS
December 31, 2021 (Unaudited)

Security Description     Shares   Value
COMMON STOCKS — 100.0%   
COMMERCIAL SERVICES & SUPPLIES — 1.0%  
ACV Auctions, Inc. Class A (a)  (b)

  136,164   $ 2,565,330
COMMUNICATIONS EQUIPMENT — 2.0%  
Inseego Corp. (a)  (b)

  423,329   2,468,008
Ubiquiti, Inc.

  9,170   2,812,439
          5,280,447
CONSUMER FINANCE — 2.1%  
LendingTree, Inc. (a)

  23,915   2,931,979
Upstart Holdings, Inc. (a)

  16,590   2,510,067
          5,442,046
DIVERSIFIED CONSUMER SERVICES — 1.1%  
Duolingo, Inc. (a)

  27,980   2,968,958
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 1.1%  
Advanced Energy Industries, Inc.

  30,880   2,811,933
ENTERTAINMENT — 8.8%  
DouYu International Holdings, Ltd. ADR (a)

  1,002,188   2,645,776
HUYA, Inc. ADR (a)

  350,201   2,430,395
iQIYI, Inc. ADR (a)

  523,594   2,387,589
Netflix, Inc. (a)

  4,370   2,632,663
ROBLOX Corp. (a)  (b)

  23,060   2,378,870
Roku, Inc. (a)

  11,660   2,660,812
Spotify Technology SA (a)

  11,475   2,685,494
Tencent Music Entertainment Group ADR (a)

  394,600   2,703,010
Zynga, Inc. Class A (a)

  428,775   2,744,160
          23,268,769
HEALTH CARE TECHNOLOGY — 4.8%  
American Well Corp. Class A (a)

  428,825   2,590,103
Doximity, Inc. Class A (a)

  49,895   2,501,236
GoodRx Holdings, Inc. Class A (a)  (b)

  66,980   2,188,906
OptimizeRx Corp. (a)

  46,695   2,900,227
Veeva Systems, Inc. Class A (a)

  10,083   2,576,005
          12,756,477
HOUSEHOLD DURABLES — 0.9%  
Vuzix Corp. (a)

  279,845   2,426,256
INTERACTIVE MEDIA & SERVICES — 15.2%  
Alphabet, Inc. Class A (a)

  887   2,569,675
Angi, Inc. (a)

  280,164   2,580,310
Cargurus, Inc. (a)

  75,428   2,537,398
fuboTV, Inc. (a)  (b)

  150,255   2,331,958
Hello Group, Inc. ADR

  264,095   2,371,573
JOYY, Inc. ADR

  52,598   2,389,527
Meta Platforms, Inc. Class A (a)

  8,152   2,741,925
Pinterest, Inc. Class A (a)

  71,808   2,610,221
Snap, Inc. Class A (a)

  52,944   2,489,956
Twitter, Inc. (a)

  58,729   2,538,267
VTEX Class A (a)

  170,440   1,827,117
Yandex NV Class A (a)

  42,222   2,554,431
Security Description     Shares   Value
Yelp, Inc. (a)

  74,262   $ 2,691,255
Zhihu, Inc. ADR (a)  (b)

  422,080   2,338,323
Ziff Davis, Inc. (a)

  25,224   2,796,333
ZoomInfo Technologies, Inc. (a)

  41,939   2,692,484
          40,060,753
INTERNET & DIRECT MARKETING RETAIL — 1.9%  
Fiverr International, Ltd. (a)  (b)

  21,199   2,410,326
Quotient Technology, Inc. (a)

  366,517   2,719,556
          5,129,882
IT SERVICES — 3.0%  
Okta, Inc. (a)

  12,035   2,697,886
Shopify, Inc. Class A (a)

  1,787   2,461,396
Twilio, Inc. Class A (a)

  10,090   2,657,100
          7,816,382
MEDIA — 1.0%  
Magnite, Inc. (a)

  154,100   2,696,750
REAL ESTATE MANAGEMENT & DEVELOPMENT — 2.0%  
Compass, Inc. Class A (a)

  259,010   2,354,401
Zillow Group, Inc. Class C (a)  (b)

  44,677   2,852,626
          5,207,027
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 8.4%  
ACM Research, Inc. Class A (a)

  34,957   2,980,783
Advanced Micro Devices, Inc. (a)

  19,385   2,789,501
Ichor Holdings, Ltd. (a)

  60,235   2,772,617
MaxLinear, Inc. (a)

  35,700   2,691,423
NVIDIA Corp.

  8,870   2,608,756
Onto Innovation, Inc. (a)

  29,155   2,951,361
SolarEdge Technologies, Inc. (a)

  8,649   2,426,650
Universal Display Corp.

  16,988   2,803,530
          22,024,621
SOFTWARE — 46.7%  
Agora, Inc. ADR (a)

  143,365   2,323,947
Alkami Technology, Inc. (a)  (b)

  122,570   2,458,754
Anaplan, Inc. (a)

  58,333   2,674,568
Appfolio, Inc. Class A (a)

  21,972   2,659,930
AppLovin Corp. Class A (a)

  29,530   2,783,498
Asana, Inc. Class A (a)

  39,449   2,940,923
Avalara, Inc. (a)

  18,559   2,396,153
Bill.Com Holdings, Inc. (a)

  10,540   2,626,041
Blackline, Inc. (a)

  25,466   2,636,750
Blend Labs, Inc. Class A (a)  (b)

  325,865   2,391,849
Check Point Software Technologies, Ltd. (a)

  24,143   2,814,108
Cleanspark, Inc. (a)

  200,671   1,910,388
Coupa Software, Inc. (a)

  17,265   2,728,733
Crowdstrike Holdings, Inc. Class A (a)

  13,539   2,772,110
CyberArk Software, Ltd. (a)

  17,539   3,039,158
Datadog, Inc. Class A (a)

  15,358   2,735,413
Digital Turbine, Inc. (a)  (b)

  50,523   3,081,398
DocuSign, Inc. (a)

  18,489   2,816,060
Everbridge, Inc. (a)

  42,454   2,858,428
 
See accompanying notes to financial statements.
21


Table of Contents
SPDR FACTSET INNOVATIVE TECHNOLOGY ETF
SCHEDULE OF INVESTMENTS  (continued)
December 31, 2021 (Unaudited)

Security Description     Shares   Value
ironSource, Ltd. Class A (a)

  329,164   $ 2,547,729
JFrog, Ltd. (a)

  88,105   2,616,719
Mandiant, Inc. (a)

  160,597   2,816,871
Mimecast, Ltd. (a)

  33,955   2,701,799
Monday.com, Ltd. (a)

  8,695   2,684,320
nCino, Inc. (a)

  48,745   2,674,151
ON24, Inc. (a)

  159,524   2,767,741
OneConnect Financial Technology Co., Ltd. (a)

  1,025,191   2,532,222
Pagerduty, Inc. (a)  (b)

  77,624   2,697,434
Palantir Technologies, Inc. Class A (a)

  141,260   2,572,345
Paycom Software, Inc. (a)

  6,400   2,657,216
Qualys, Inc. (a)

  20,338   2,790,780
Rapid7, Inc. (a)

  23,082   2,716,521
SentinelOne, Inc. Class A (a)

  53,165   2,684,301
Smartsheet, Inc. Class A (a)

  37,903   2,935,587
SS&C Technologies Holdings, Inc.

  34,265   2,809,045
Sumo Logic, Inc. (a)

  194,764   2,641,000
Tenable Holdings, Inc. (a)

  56,430   3,107,600
Trade Desk, Inc. Class A (a)

  28,448   2,606,975
UiPath, Inc. Class A (a)

  61,085   2,634,596
Upland Software, Inc. (a)

  137,196   2,461,296
Varonis Systems, Inc. (a)

  53,557   2,612,510
Workday, Inc. Class A (a)

  9,528   2,602,859
Xperi Holding Corp.

  133,740   2,529,023
Yext, Inc. (a)

  259,537   2,574,607
Zoom Video Communications, Inc. Class A (a)

  14,473   2,661,729
Zscaler, Inc. (a)

  8,747   2,810,674
          123,095,859
TOTAL COMMON STOCKS

(Cost $289,373,217)

        263,551,490
Security Description     Shares   Value
SHORT-TERM INVESTMENTS — 3.6%      
State Street Institutional Liquid Reserves Fund, Premier Class 0.04% (c)  (d)

  15,425   $ 15,427
State Street Navigator Securities Lending Portfolio II (e)  (f)

  9,337,275   9,337,275
TOTAL SHORT-TERM INVESTMENTS

(Cost $9,352,702)

  9,352,702  
TOTAL INVESTMENTS — 103.6%

(Cost $298,725,919)

  272,904,192  
LIABILITIES IN EXCESS OF OTHER ASSETS — (3.6)%

  (9,443,407)  
NET ASSETS — 100.0%

  $ 263,460,785  
(a) Non-income producing security.
(b) All or a portion of the shares of the security are on loan at December 31, 2021.
(c) The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended December 31, 2021 are shown in the Affiliate Table below.
(d) The rate shown is the annualized seven-day yield at December 31, 2021.
(e) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended December 31, 2021 are shown in the Affiliate Table below.
(f) Investment of cash collateral for securities loaned.
ADR American Depositary Receipt
 
The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of December 31, 2021.
Description   Level 1 –
Quoted Prices
  Level 2 –
Other Significant
Observable Inputs
  Level 3 –
Significant
Unobservable Inputs
  Total
ASSETS:                
INVESTMENTS:                
Common Stocks

  $263,551,490   $—   $—   $263,551,490
Short-Term Investments

  9,352,702       9,352,702
TOTAL INVESTMENTS

  $272,904,192   $—   $—   $272,904,192
See accompanying notes to financial statements.
22


Table of Contents
SPDR FACTSET INNOVATIVE TECHNOLOGY ETF
SCHEDULE OF INVESTMENTS  (continued)
December 31, 2021 (Unaudited)

Affiliate Table
  Number of
Shares Held
at
6/30/21
  Value at

6/30/21
  Cost of
Purchases
  Proceeds
from
Shares Sold
  Realized
Gain (Loss)
  Change in
Unrealized
Appreciation/
Depreciation
  Number of
Shares Held
at
12/31/21
  Value at

12/31/21
  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class

371,487   $ 371,598   $ 9,774,767   $10,130,896   $ (7)   $(35)   15,425   $ 15,427   $ 51
State Street Navigator Securities Lending Portfolio II

28,664,569   28,664,569   36,139,342   55,466,636       9,337,275   9,337,275   16,478
Total

    $29,036,167   $45,914,109   $65,597,532   $ (7)   $(35)       $9,352,702   $16,529
See accompanying notes to financial statements.
23


Table of Contents
SPDR GLOBAL DOW ETF
SCHEDULE OF INVESTMENTS
December 31, 2021 (Unaudited)

Security Description     Shares   Value
COMMON STOCKS — 99.7%        
AUSTRALIA — 1.9%          
BHP Group, Ltd. (a)

    21,217   $ 640,172
National Australia Bank, Ltd.

    30,763   645,042
Rio Tinto PLC

    8,794   582,688
          1,867,902
BELGIUM — 0.7%          
Anheuser-Busch InBev SA/NV (b)

    11,190   676,602
BRAZIL — 0.7%          
Petroleo Brasileiro SA Preference Shares ADR

    37,317   377,275
Petroleo Brasileiro SA Preference Shares

    58,575   299,184
          676,459
CANADA — 1.5%          
Nutrien, Ltd.

    10,375   780,948
Royal Bank of Canada

    6,288   668,301
          1,449,249
CHINA — 3.6%          
Alibaba Group Holding, Ltd. ADR (b)

    3,840   456,154
China Construction Bank Corp. Class H

    868,288   601,408
China Petroleum & Chemical Corp. Class H

    1,304,147   607,218
Industrial & Commercial Bank of China, Ltd. Class H

    1,123,110   633,850
PetroChina Co., Ltd. Class H

    1,468,458   653,585
Tencent Holdings, Ltd.

    10,306   603,848
          3,556,063
DENMARK — 0.5%          
Vestas Wind Systems A/S

    16,226   496,189
FINLAND — 0.6%          
Sampo Oyj Class A

    12,401   621,352
FRANCE — 6.1%          
Air Liquide SA

    3,647   635,874
BNP Paribas SA

    10,302   711,947
Carrefour SA

    35,771   655,132
Cie de Saint-Gobain

    8,918   627,458
Engie SA

    46,287   685,025
LVMH Moet Hennessy Louis Vuitton SE

    820   677,930
Societe Generale SA

    20,583   707,008
TotalEnergies SE

    14,861   754,244
Vinci SA

    6,204   655,497
          6,110,115
GERMANY — 4.6%          
Allianz SE

    2,823   666,622
BASF SE

    8,450   593,665
Daimler AG

    9,344   718,211
Daimler Truck Holding AG (b)

    72   2,644
Security Description     Shares   Value
Deutsche Bank AG (b)

    50,454   $ 632,172
E.ON SE

    49,682   688,828
SAP SE

    4,428   628,936
Siemens AG

    3,734   648,325