Semi-Annual Report
December 31, 2022
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 MSCI USA Gender Diversity ETF (Formerly, 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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Schedules of Investments (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, 2022

      
  Description % of Net Assets  
  iQIYI, Inc. ADR 1.5%  
  Kingsoft Cloud Holdings, Ltd. ADR 1.2  
  PAR Technology Corp. 1.2  
  Schrodinger, Inc. 1.2  
  Varonis Systems, Inc. 1.2  
  DocuSign, Inc. 1.1  
  Pagerduty, Inc. 1.1  
  Monday.com, Ltd. 1.1  
  Vnet Group, Inc. ADR 1.1  
  Concentrix Corp. 1.1  
  TOTAL 11.8%  
(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, 2022

      
    % of Net Assets  
  Software 34.5%  
  IT Services 16.5  
  Semiconductors & Semiconductor Equipment 13.2  
  Interactive Media & Services 7.1  
  Entertainment 7.1  
  Health Care Technology 6.9  
  Media 2.9  
  Electronic Equipment, Instruments & Components 2.2  
  Communications Equipment 1.9  
  Professional Services 1.9  
  Real Estate Management & Development 1.8  
  Diversified Consumer Services 1.1  
  Technology Hardware, Storage & Peripherals 1.0  
  Internet & Direct Marketing Retail 1.0  
  Consumer Finance 0.8  
  Short-Term Investments 9.6  
  Liabilities in Excess of Other Assets (9.5)  
  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, 2022

      
  Description % of Net Assets  
  UniCredit SpA 0.9%  
  Schlumberger, Ltd. 0.9  
  Gilead Sciences, Inc. 0.9  
  Mitsubishi UFJ Financial Group, Inc. 0.9  
  Siemens AG 0.8  
  Mitsui & Co., Ltd. 0.8  
  Netflix, Inc. 0.8  
  Allianz SE 0.8  
  Merck & Co., Inc. 0.8  
  Deutsche Bank AG 0.8  
  TOTAL 8.4%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
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, 2022

      
  Description % of Net Assets  
  Microsoft Corp. 2.9%  
  Apple, Inc. 2.5  
  Johnson & Johnson 2.4  
  UnitedHealth Group, Inc. 2.3  
  Home Depot, Inc. 2.2  
  Eli Lilly & Co. 1.7  
  Merck & Co., Inc. 1.7  
  Visa, Inc. Class A 1.6  
  Pfizer, Inc. 1.6  
  Mastercard, Inc. Class A 1.5  
  TOTAL 20.4%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of December 31, 2022

      
    % of Net Assets  
  Information Technology 24.9%  
  Health Care 19.3  
  Financials 12.0  
  Industrials 9.7  
  Consumer Staples 8.2  
  Communication Services 8.2  
  Consumer Discretionary 7.7  
  Utilities 4.1  
  Materials 2.6  
  Energy 2.0  
  Real Estate 1.2  
  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, 2022

      
  Description % of Net Assets  
  Meta Platforms, Inc. Class A 3.1%  
  Broadcom, Inc. 3.1  
  Oracle Corp. 3.1  
  Adobe, Inc. 3.1  
  Salesforce, Inc. 3.1  
  Booking Holdings, Inc. 3.0  
  Snowflake, Inc. Class A 3.0  
  ServiceNow, Inc. 3.0  
  Cisco Systems, Inc. 3.0  
  Microsoft Corp. 2.9  
  TOTAL 30.4%  
(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, 2022

      
    % of Net Assets  
  Semiconductors & Semiconductor Equipment 33.8%  
  Software 20.8  
  Internet & Direct Marketing Retail 11.4  
  IT Services 8.6  
  Interactive Media & Services 6.0  
  Hotels, Restaurants & Leisure 5.7  
  Communications Equipment 3.0  
  Road & Rail 2.8  
  Entertainment 2.8  
  Technology Hardware, Storage & Peripherals 2.8  
  Automobiles 2.1  
  Short-Term Investment 0.2  
  Other Assets in Excess of Liabilities 0.0  
  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

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SPDR S&P 500 Fossil Fuel Reserves Free ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2022

      
  Description % of Net Assets  
  Apple, Inc. 6.3%  
  Microsoft Corp. 5.8  
  Amazon.com, Inc. 2.4  
  Berkshire Hathaway, Inc. Class B 1.8  
  Alphabet, Inc. Class A 1.7  
  UnitedHealth Group, Inc. 1.6  
  Alphabet, Inc. Class C 1.5  
  Johnson & Johnson 1.5  
  JPMorgan Chase & Co. 1.2  
  NVIDIA Corp. 1.2  
  TOTAL 25.0%  
(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, 2022

      
    % of Net Assets  
  Information Technology 26.7%  
  Health Care 16.5  
  Financials 12.1  
  Consumer Discretionary 10.2  
  Industrials 9.0  
  Communication Services 7.6  
  Consumer Staples 7.5  
  Utilities 3.3  
  Real Estate 2.8  
  Materials 2.8  
  Energy 1.3  
  Short-Term Investments 0.1  
  Other Assets in Excess of Liabilities 0.1  
  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.
5

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SPDR S&P Capital Markets ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2022

      
  Description % of Net Assets  
  Charles Schwab Corp. 1.8%  
  Affiliated Managers Group, Inc. 1.8  
  Bank of New York Mellon Corp. 1.8  
  Focus Financial Partners, Inc. Class A 1.8  
  Evercore, Inc. Class A 1.8  
  Carlyle Group, Inc. 1.7  
  Cboe Global Markets, Inc. 1.7  
  Tradeweb Markets, Inc. Class A 1.7  
  Northern Trust Corp. 1.7  
  Virtus Investment Partners, Inc. 1.7  
  TOTAL 17.5%  
(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, 2022

      
    % of Net Assets  
  Asset Management & Custody Banks 44.7%  
  Investment Banking & Brokerage 32.3  
  Financial Exchanges & Data 22.6  
  Short-Term Investments 3.5  
  Liabilities in Excess of Other Assets (3.1)  
  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.
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SPDR S&P Health Care Equipment ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2022

      
  Description % of Net Assets  
  Align Technology, Inc. 1.6%  
  Alphatec Holdings, Inc. 1.6  
  Inspire Medical Systems, Inc. 1.6  
  Cooper Cos., Inc. 1.6  
  Masimo Corp. 1.6  
  Meridian Bioscience, Inc. 1.6  
  Omnicell, Inc. 1.6  
  DENTSPLY SIRONA, Inc. 1.6  
  TransMedics Group, Inc. 1.5  
  AtriCure, Inc. 1.5  
  TOTAL 15.8%  
(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, 2022

      
    % of Net Assets  
  Health Care Equipment 76.9%  
  Health Care Supplies 23.1  
  Short-Term Investments 3.1  
  Liabilities in Excess of Other Assets (3.1)  
  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.
7

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SPDR S&P Health Care Services ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2022

      
  Description % of Net Assets  
  Tenet Healthcare Corp. 1.9%  
  Universal Health Services, Inc. Class B 1.9  
  Surgery Partners, Inc. 1.9  
  Encompass Health Corp. 1.8  
  R1 RCM, Inc. 1.8  
  Quest Diagnostics, Inc. 1.8  
  Premier, Inc. Class A 1.8  
  Select Medical Holdings Corp. 1.8  
  Ensign Group, Inc. 1.8  
  Apollo Medical Holdings, Inc. 1.8  
  TOTAL 18.3%  
(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, 2022

      
    % of Net Assets  
  Health Care Services 52.7%  
  Health Care Facilities 20.8  
  Managed Health Care 14.8  
  Health Care Distributors 11.6  
  Short-Term Investments 6.5  
  Liabilities in Excess of Other Assets (6.4)  
  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, 2022

      
  Description % of Net Assets  
  Allstate Corp. 2.3%  
  Arch Capital Group, Ltd. 2.3  
  Loews Corp. 2.3  
  Globe Life, Inc. 2.3  
  Aflac, Inc. 2.3  
  Unum Group 2.3  
  Chubb, Ltd. 2.3  
  Hartford Financial Services Group, Inc. 2.2  
  Markel Corp. 2.2  
  Ryan Specialty Holdings, Inc. Class A 2.2  
  TOTAL 22.7%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of December 31, 2022

      
    % of Net Assets  
  Property & Casualty Insurance 46.2%  
  Life & Health Insurance 26.3  
  Insurance Brokers 13.1  
  Reinsurance 7.6  
  Multi-line Insurance 6.6  
  Short-Term Investments 2.1  
  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.
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SPDR S&P Internet ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2022

      
  Description % of Net Assets  
  Cargurus, Inc. 2.7%  
  Twilio, Inc. Class A 2.7  
  Okta, Inc. 2.6  
  Shutterstock, Inc. 2.6  
  Pinterest, Inc. Class A 2.6  
  VeriSign, Inc. 2.6  
  Meta Platforms, Inc. Class A 2.6  
  ZoomInfo Technologies, Inc. 2.6  
  MongoDB, Inc. 2.6  
  GoDaddy, Inc. Class A 2.5  
  TOTAL 26.1%  
(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, 2022

      
    % of Net Assets  
  Interactive Media & Services 40.8%  
  Internet & Direct Marketing Retail 30.1  
  Internet Services & Infrastructure 29.1  
  Short-Term Investments 8.2  
  Liabilities in Excess of Other Assets (8.2)  
  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.
10

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SPDR S&P Metals & Mining ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2022

      
  Description % of Net Assets  
  Uranium Energy Corp. 5.1%  
  Cleveland-Cliffs, Inc. 4.7  
  Royal Gold, Inc. 4.6  
  Newmont Corp. 4.6  
  Alcoa Corp. 4.6  
  Commercial Metals Co. 4.6  
  Arch Resources, Inc. 4.5  
  Reliance Steel & Aluminum Co. 4.5  
  United States Steel Corp. 4.5  
  Freeport-McMoRan, 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, 2022

      
    % of Net Assets  
  Steel 39.6%  
  Coal & Consumable Fuels 21.3  
  Gold 11.5  
  Aluminum 9.4  
  Diversified Metals & Mining 9.1  
  Copper 4.5  
  Silver 4.4  
  Short-Term Investments 3.8  
  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.
11

Table of Contents
SPDR S&P Oil & Gas Equipment & Services ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2022

      
  Description % of Net Assets  
  Weatherford International PLC 4.7%  
  Transocean, Ltd. 4.6  
  Halliburton Co. 4.5  
  Nabors Industries, Ltd. 4.4  
  Valaris, Ltd. 4.4  
  Schlumberger, Ltd. 4.3  
  Liberty Energy, Inc. Class A 4.3  
  Helmerich & Payne, Inc. 4.2  
  Patterson-UTI Energy, Inc. 4.2  
  Noble Corp. PLC 4.2  
  TOTAL 43.8%  
(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, 2022

      
    % of Net Assets  
  Oil & Gas Equipment & Services 71.8%  
  Oil & Gas Drilling 28.2  
  Short-Term Investments 5.7  
  Liabilities in Excess of Other Assets (5.7)  
  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, 2022

      
  Description % of Net Assets  
  Perrigo Co. PLC 4.7%  
  Jazz Pharmaceuticals PLC 4.5  
  Organon & Co. 4.5  
  Viatris, Inc. 4.5  
  Axsome Therapeutics, Inc. 4.4  
  Merck & Co., Inc. 4.4  
  Eli Lilly & Co. 4.4  
  Catalent, Inc. 4.4  
  Johnson & Johnson 4.3  
  Pfizer, Inc. 4.3  
  TOTAL 44.4%  
(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, 2022

      
    % of Net Assets  
  Pharmaceuticals 98.5%  
  Biotechnology 1.4  
  Short-Term Investments 9.0  
  Liabilities in Excess of Other Assets (8.9)  
  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.
13

Table of Contents
SPDR S&P Retail ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2022

      
  Description % of Net Assets  
  Sally Beauty Holdings, Inc. 1.3%  
  Children's Place, Inc. 1.3  
  Burlington Stores, Inc. 1.3  
  Tractor Supply Co. 1.3  
  Grocery Outlet Holding Corp. 1.3  
  TJX Cos., Inc. 1.2  
  O'Reilly Automotive, Inc. 1.2  
  Buckle, Inc. 1.2  
  National Vision Holdings, Inc. 1.2  
  Dollar General Corp. 1.2  
  TOTAL 12.5%  
(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, 2022

      
    % of Net Assets  
  Apparel Retail 20.6%  
  Automotive Retail 18.8  
  Specialty Stores 18.3  
  Internet & Direct Marketing Retail 14.6  
  Food Retail 7.1  
  General Merchandise Stores 6.9  
  Department Stores 4.6  
  Hypermarkets & Super Centers 4.1  
  Computer & Electronics Retail 3.3  
  Drug Retail 1.1  
  Short-Term Investments 8.9  
  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.
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Table of Contents
SPDR S&P Semiconductor ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2022

      
  Description % of Net Assets  
  Ambarella, Inc. 3.2%  
  Broadcom, Inc. 3.1  
  SiTime Corp. 3.0  
  First Solar, Inc. 3.0  
  Semtech Corp. 2.9  
  Analog Devices, Inc. 2.9  
  Cirrus Logic, Inc. 2.9  
  MaxLinear, Inc. 2.9  
  Skyworks Solutions, Inc. 2.9  
  Impinj, Inc. 2.9  
  TOTAL 29.7%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Industry Breakdown as of December 31, 2022

      
    % of Net Assets  
  Semiconductors 99.9%  
  Short-Term Investments 6.6  
  Liabilities in Excess of Other Assets (6.5)  
  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, 2022

      
  Description % of Net Assets  
  Agilysys, Inc. 0.6%  
  Coupa Software, Inc. 0.6  
  International Money Express, Inc. 0.6  
  Flywire Corp. 0.6  
  PowerSchool Holdings, Inc. Class A 0.6  
  Shift4 Payments, Inc. Class A 0.6  
  Varonis Systems, Inc. 0.6  
  DocuSign, Inc. 0.6  
  PROS Holdings, Inc. 0.6  
  SolarWinds Corp. 0.6  
  TOTAL 6.0%  
(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, 2022

      
    % of Net Assets  
  Application Software 55.6%  
  Data Processing & Outsourced Services 21.5  
  Systems Software 14.6  
  IT Consulting & Other Services 5.5  
  Interactive Home Entertainment 2.7  
  Short-Term Investments 10.0  
  Liabilities in Excess of Other Assets (9.9)  
  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.
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Table of Contents
SPDR S&P Telecom ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2022

      
  Description % of Net Assets  
  Verizon Communications, Inc. 3.5%  
  Frontier Communications Parent, Inc. 3.4  
  Iridium Communications, Inc. 3.4  
  Ciena Corp. 3.4  
  Cogent Communications Holdings, Inc. 3.3  
  T-Mobile US, Inc. 3.3  
  Juniper Networks, Inc. 3.3  
  Liberty Global PLC Class C 3.3  
  Viavi Solutions, Inc. 3.3  
  Cisco Systems, Inc. 3.3  
  TOTAL 33.5%  
(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, 2022

      
    % of Net Assets  
  Communications Equipment 58.0%  
  Diversified Telecommunication Services 33.1  
  Wireless Telecommunication Services 8.8  
  Short-Term Investments 2.8  
  Liabilities in Excess of Other Assets (2.7)  
  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

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SPDR S&P Transportation ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2022

      
  Description % of Net Assets  
  Genco Shipping & Trading, Ltd. 2.3%  
  Matson, Inc. 2.3  
  Hub Group, Inc. Class A 2.3  
  Norfolk Southern Corp. 2.3  
  Kirby Corp. 2.3  
  Lyft, Inc. Class A 2.3  
  FedEx Corp. 2.3  
  Atlas Air Worldwide Holdings, Inc. 2.3  
  Ryder System, Inc. 2.2  
  Forward Air 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, 2022

      
    % of Net Assets  
  Trucking 39.0%  
  Airlines 25.5  
  Air Freight & Logistics 19.5  
  Marine 9.2  
  Railroads 6.7  
  Short-Term Investments 4.4  
  Liabilities in Excess of Other Assets (4.3)  
  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.
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SPDR MSCI USA Gender Diversity ETF (Formerly, SPDR SSGA Gender Diversity Index ETF)
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2022

      
  Description % of Net Assets  
  Microsoft Corp. 4.6%  
  Visa, Inc. Class A 4.5  
  Apple, Inc. 3.9  
  UnitedHealth Group, Inc. 2.8  
  Cisco Systems, Inc. 2.4  
  Accenture PLC Class A 2.4  
  JPMorgan Chase & Co. 2.1  
  Meta Platforms, Inc. Class A 2.0  
  Chevron Corp. 1.8  
  Bank of America Corp. 1.6  
  TOTAL 28.1%  
(The ten largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
Sector Breakdown as of December 31, 2022

      
    % of Net Assets  
  Information Technology 25.9%  
  Health Care 15.5  
  Financials 11.0  
  Consumer Discretionary 10.2  
  Industrials 8.6  
  Communication Services 7.6  
  Consumer Staples 7.0  
  Energy 5.2  
  Utilities 3.1  
  Real Estate 2.7  
  Materials 2.7  
  Short-Term Investments 0.4  
  Other Assets in Excess of Liabilities 0.1  
  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.
19

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SPDR ICE Preferred Securities ETF
Portfolio Statistics (Unaudited)
Top Ten Holdings as of December 31, 2022

      
  Description % of Net Assets  
  Citigroup Capital XIII
10.78% 10/30/2040 		4.0%  
  AT&T, Inc.
5.35% 11/1/2066 		1.8  
  Capital One Financial Corp.
5.00% 12/1/2024 		1.7  
  Duke Energy Corp.
5.75% 6/15/2024 		1.5  
  Allstate Corp.
5.10% 10/15/2024 		1.4  
  Capital One Financial Corp.
4.80% 6/1/2025 		1.4  
  Southern Co.
4.95% 1/30/2080 		1.3  
  MetLife, Inc.
4.75% 3/15/2025 		1.2  
  AT&T, Inc.
5.63% 8/1/2067 		1.2  
  MetLife, Inc.
5.63% 6/15/2023 		1.2  
  TOTAL 16.7%  
(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, 2022

      
    % of Net Assets  
  Financials 74.1%  
  Utilities 13.3  
  Real Estate 5.1  
  Unknown G1 3.1  
  Communication Services 3.0  
  Industrials 0.9  
  Short-Term Investments 5.1  
  Liabilities in Excess of Other Assets (4.6)  
  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, 2022 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.9%   
COMMUNICATIONS EQUIPMENT — 1.9%  
Clearfield, Inc. (a)
   9,703   $ 913,441
Ubiquiti, Inc. (b)
   3,553   971,852
          1,885,293
CONSUMER FINANCE — 0.8%  
Upstart Holdings, Inc. (a)  (b)
   58,651   775,366
DIVERSIFIED CONSUMER SERVICES — 1.1%  
Duolingo, Inc. (a)
   14,583   1,037,289
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 2.2%  
Avnet, Inc.
   23,280   967,982
PAR Technology Corp. (a)
   43,850   1,143,170
          2,111,152
ENTERTAINMENT — 7.1%  
Electronic Arts, Inc.
   8,054   984,038
IMAX Corp. (a)
   60,541   887,531
iQIYI, Inc. ADR (a)  (b)
   272,839   1,446,047
Netflix, Inc. (a)
   3,103   915,013
ROBLOX Corp. Class A (a)
   31,603   899,421
Roku, Inc. (a)
   19,362   788,033
Spotify Technology SA (a)
   12,805   1,010,955
          6,931,038
HEALTH CARE TECHNOLOGY — 6.9%  
American Well Corp. Class A (a)
   306,231   866,634
Definitive Healthcare Corp. (a)
   79,946   878,607
Doximity, Inc. Class A (a)  (b)
   28,132   944,110
Health Catalyst, Inc. (a)
   91,977   977,715
Phreesia, Inc. (a)
   32,401   1,048,496
Schrodinger, Inc. (a)
   60,725   1,134,950
Veeva Systems, Inc. Class A (a)
   5,812   937,941
          6,788,453
INTERACTIVE MEDIA & SERVICES — 7.1%  
JOYY, Inc. ADR
   28,728   907,518
Kanzhun, Ltd. ADR (a)
   49,858   1,015,607
Meta Platforms, Inc. Class A (a)
   8,676   1,044,070
Pinterest, Inc. Class A (a)
   43,264   1,050,450
Vimeo, Inc. (a)
   266,293   913,385
Yandex NV Class A (a)  (c)
   41,307   —
ZipRecruiter, Inc. Class A (a)  (b)
   62,089   1,019,501
ZoomInfo Technologies, Inc. (a)
   34,475   1,038,042
          6,988,573
INTERNET & DIRECT MARKETING RETAIL — 1.0%  
Fiverr International, Ltd. (a)
   32,394   943,961
IT SERVICES — 16.5%  
Accenture PLC Class A
   3,495   932,606
Chindata Group Holdings, Ltd. ADR (a)  (b)
   127,773   1,018,351
Concentrix Corp.
   8,154   1,085,787
Endava PLC ADR (a)
   12,613   964,894
EPAM Systems, Inc. (a)
   2,913   954,707
Fastly, Inc. Class A (a)
   105,157   861,236
Security Description     Shares   Value
Globant SA (a)
   5,726   $ 962,884
Kingsoft Cloud Holdings, Ltd. ADR (a)
   310,061   1,187,534
MongoDB, Inc. (a)
   5,241   1,031,638
Okta, Inc. (a)
   15,560   1,063,215
Perficient, Inc. (a)
   13,780   962,257
SS&C Technologies Holdings, Inc.
   19,309   1,005,226
Thoughtworks Holding, Inc. (a)
   105,739   1,077,480
Toast, Inc. Class A (a)
   51,904   935,829
Twilio, Inc. Class A (a)
   22,009   1,077,561
Vnet Group, Inc. ADR (a)
   193,739   1,098,500
          16,219,705
MEDIA — 2.9%  
Magnite, Inc. (a)
   90,215   955,377
Perion Network, Ltd. (a)
   38,709   979,338
PubMatic, Inc. Class A (a)
   74,702   956,932
          2,891,647
PROFESSIONAL SERVICES — 1.9%  
Clarivate PLC (a)
   111,280   928,075
Upwork, Inc. (a)
   89,064   929,828
          1,857,903
REAL ESTATE MANAGEMENT & DEVELOPMENT — 1.8%  
Opendoor Technologies, Inc. (a)
   770,275   893,519
Zillow Group, Inc. Class C (a)  (b)
   28,519   918,597
          1,812,116
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 13.2%  
Advanced Micro Devices, Inc. (a)
   14,617   946,743
Aehr Test Systems (a)
   41,037   824,844
Cohu, Inc. (a)
   28,806   923,232
Himax Technologies, Inc. ADR (b)
   140,468   872,306
KLA Corp.
   2,531   954,263
Kulicke & Soffa Industries, Inc.
   21,252   940,614
MaxLinear, Inc. (a)
   28,556   969,476
Monolithic Power Systems, Inc.
   2,613   923,983
Nova, Ltd. (a)  (b)
   11,831   966,356
NVIDIA Corp.
   5,884   859,888
Onto Innovation, Inc. (a)
   13,111   892,728
Power Integrations, Inc.
   13,198   946,561
SiTime Corp. (a)
   9,803   996,181
Teradyne, Inc.
   10,867   949,232
          12,966,407
SOFTWARE — 34.5%  
Adobe, Inc. (a)
   3,013   1,013,965
Amplitude, Inc. Class A (a)  (b)
   80,428   971,570
AppLovin Corp. Class A (a)  (b)
   96,628   1,017,493
Asana, Inc. Class A (a)
   69,288   954,096
Braze, Inc. Class A (a)
   37,642   1,026,874
Check Point Software Technologies, Ltd. (a)
   7,654   965,629
Crowdstrike Holdings, Inc. Class A (a)
   8,703   916,339
CyberArk Software, Ltd. (a)
   7,387   957,725
 
See accompanying notes to financial statements.
21

Table of Contents
SPDR FACTSET INNOVATIVE TECHNOLOGY ETF
SCHEDULE OF INVESTMENTS  (continued)
December 31, 2022 (Unaudited)
Security Description     Shares   Value
Datadog, Inc. Class A (a)
   13,386   $ 983,871
Digital Turbine, Inc. (a)
   61,039   930,234
DocuSign, Inc. (a)
   20,343   1,127,409
DoubleVerify Holdings, Inc. (a)
   40,937   898,977
Dynatrace, Inc. (a)
   27,057   1,036,283
Fortinet, Inc. (a)
   19,203   938,835
Gitlab, Inc. Class A (a)  (b)
   21,634   983,049
HashiCorp, Inc. Class A (a)
   33,765   923,135
Jamf Holding Corp. (a)
   46,181   983,655
LiveRamp Holdings, Inc. (a)
   45,014   1,055,128
Monday.com, Ltd. (a)
   9,101   1,110,322
nCino, Inc. (a)  (b)
   39,302   1,039,145
Olo, Inc. Class A (a)
   146,876   917,975
Pagerduty, Inc. (a)
   42,172   1,120,088
Q2 Holdings, Inc. (a)
   38,124   1,024,392
Qualys, Inc. (a)
   8,464   949,915
Rapid7, Inc. (a)
   30,476   1,035,575
Samsara, Inc. Class A (a)  (b)
   76,733   953,791
SentinelOne, Inc. Class A (a)
   65,175   950,903
Smartsheet, Inc. Class A (a)
   26,739   1,052,447
Tenable Holdings, Inc. (a)
   26,263   1,001,933
Trade Desk, Inc. Class A (a)
   20,958   939,547
Tyler Technologies, Inc. (a)
   3,113   1,003,662
UiPath, Inc. Class A (a)  (b)
   77,282   982,254
Varonis Systems, Inc. (a)
   47,210   1,130,207
Zscaler, Inc. (a)
   8,571   959,095
          33,855,518
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 1.0%  
Super Micro Computer, Inc. (a)
   11,931   979,535
TOTAL COMMON STOCKS

(Cost $145,276,505)
         98,043,956
SHORT-TERM INVESTMENTS — 9.6%      
State Street Institutional Liquid Reserves Fund, Premier Class 4.42% (d)  (e)
   110,298   110,320
Security Description     Shares   Value
State Street Navigator Securities Lending Portfolio II (f)  (g)
   9,349,456   $ 9,349,456
TOTAL SHORT-TERM INVESTMENTS

(Cost $9,459,766)
   9,459,776  
TOTAL INVESTMENTS — 109.5%

(Cost $154,736,271)
   107,503,732  
LIABILITIES IN EXCESS OF OTHER ASSETS — (9.5)%
  (9,357,856)  
NET ASSETS — 100.0%
   $ 98,145,876  
(a) Non-income producing security.
(b) All or a portion of the shares of the security are on loan at December 31, 2022.
(c) Fair valued as determined in good faith by the Trust's Oversight Committee in accordance with policy and procedures approved by the Board of Trustees. Security value is determined based on Level 3 inputs. As of December 31, 2022, total aggregate fair value of the securities is $0, representing 0.00% of the Fund's net assets.
(d) 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, 2022 are shown in the Affiliate Table below.
(e) The rate shown is the annualized seven-day yield at December 31, 2022.
(f) The Fund invested in an affiliated entity. Amounts related to these transactions during the period ended December 31, 2022 are shown in the Affiliate Table below.
(g) 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, 2022.
Description   Level 1 –
Quoted Prices 		  Level 2 –
Other Significant
Observable Inputs 		  Level 3 –
Significant
Unobservable Inputs 		  Total
ASSETS:                  
INVESTMENTS:                
Common Stocks
   $ 98,043,956   $—   $ 0(a)   $ 98,043,956
Short-Term Investments
   9,459,776   —   —   9,459,776
TOTAL INVESTMENTS
   $107,503,732   $—   $ 0   $107,503,732
(a) The Fund held a Level 3 security that was valued at $0 at December 31, 2022.
See accompanying notes to financial statements.
22

Table of Contents
SPDR FACTSET INNOVATIVE TECHNOLOGY ETF
SCHEDULE OF INVESTMENTS  (continued)
December 31, 2022 (Unaudited)
Affiliate Table
  Number of
Shares Held
at
6/30/22 		  Value at

6/30/22 		  Cost of
Purchases 		  Proceeds
from
Shares Sold 		  Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation/
Depreciation 		  Number of
Shares Held
at
12/31/22 		  Value at

12/31/22 		  Dividend
Income
State Street Institutional Liquid Reserves Fund, Premier Class
 182,667   $ 182,649   $ 5,084,911   $ 5,157,270   $20   $10   110,298   $ 110,320   $ 2,647
State Street Navigator Securities Lending Portfolio II
 10,604,316   10,604,316   39,373,291   40,628,151   —   —   9,349,456   9,349,456   161,380
Total
     $10,786,965   $44,458,202   $45,785,421   $20   $10       $9,459,776   $164,027
See accompanying notes to financial statements.
23

Table of Contents
SPDR GLOBAL DOW ETF
SCHEDULE OF INVESTMENTS
December 31, 2022 (Unaudited)
Security Description     Shares   Value
COMMON STOCKS — 99.6%        
AUSTRALIA — 2.2%  
BHP Group, Ltd.
     24,926   $ 771,310
National Australia Bank, Ltd.
     31,807   648,392
Rio Tinto PLC
     11,536   804,568
          2,224,270
BELGIUM — 0.8%  
Anheuser-Busch InBev SA/NV
     13,071   784,968
BRAZIL — 0.5%  
Petroleo Brasileiro SA Preference Shares ADR
     17,814   165,492
Petroleo Brasileiro SA Preference Shares
     69,578   322,868
          488,360
CANADA — 1.1%  
Nutrien, Ltd. (a)
     6,862   500,616
Royal Bank of Canada (a)
     6,634   623,276
          1,123,892
CHINA — 4.0%  
Alibaba Group Holding, Ltd. ADR (b)
     7,023   618,656
China Construction Bank Corp. Class H
     1,061,288   664,924
China Petroleum & Chemical Corp. Class H
     1,444,147   697,562
Industrial & Commercial Bank of China, Ltd. Class H
     1,300,110   669,632
PetroChina Co., Ltd. Class H
     1,456,458   666,187
Tencent Holdings, Ltd.
     16,606   710,626
          4,027,587
DENMARK — 0.8%  
Vestas Wind Systems A/S
     26,402   765,781
FINLAND — 0.7%  
Sampo Oyj Class A
     14,084   733,820
FRANCE — 6.5%  
Air Liquide SA
     5,264   743,824
BNP Paribas SA
     13,283   754,887
Carrefour SA
     39,153   653,533
Cie de Saint-Gobain
     15,585   759,300
Engie SA
     50,611   723,147
LVMH Moet Hennessy Louis Vuitton SE
     991   719,092
Societe Generale SA
     27,243   682,683
TotalEnergies SE
     12,975   812,160
Vinci SA
     6,857   682,708
          6,531,334
GERMANY — 5.4%  
Allianz SE
     3,835   822,264
BASF SE
     14,870   736,209
Deutsche Bank AG
     72,393   818,044
E.ON SE
     71,150   708,775
Mercedes-Benz Group AG
     11,471   751,685
Security Description     Shares   Value
SAP SE
     7,467   $ 768,147
Siemens AG
     6,158   852,010
          5,457,134
HONG KONG — 0.6%  
CLP Holdings, Ltd.