NOTES TO PERFORMANCE SUMMARIES (UNAUDITED)

The performance chart of a Fund’s total return at net asset value (“NAV”), the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. A Fund’s per share NAV is the value of one share of a Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of a Fund and the market return is based on the market price per share of a Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of a Fund are listed for trading, as of the time that a Fund’s NAV is calculated. NAV and market returns assume that dividends and capital gain distributions have been reinvested in a Fund at NAV. Market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.

An index is a statistical measure of a specified financial market or sector.An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, a Fund’s performance is negatively impacted by these deductions. Index returns reflect all items of income, gain and loss and the reinvestment of dividends and other income.

The EURO STOXX 50^® Index is a market capitalization weighted index designed to represent the performance of some of the largest companies across components of the 20 EURO STOXX Supersector Indexes. The EURO STOXX Supersector Indexes are subsets of the EURO STOXX Index. The EURO STOXX Index is a broad yet liquid subset of the STOXX Europe 600 Index. The Index captures approximately 60% of the free-float market capitalization of the EURO STOXX Total Market Index, which in turn covers approximately 95% of the free float market capitalization of the represented countries.

The MSCI ACWI Climate Paris Aligned Index is based on the MSCI ACWI Index, its parent index, and includes large and midcap securities across 23 Developed Markets (DM) and 27 Emerging Markets (EM) countries. The index is designed to support investors seeking to reduce their exposure to transition and physical climate risks and who wish to pursue opportunities arising from the transition to a lower-carbon economy while aligning with the Paris Agreement requirements. The index incorporates the TCFD recommendations and are designed to exceed the minimum standards of the EU Paris-Aligned Benchmark.

The MSCI ACWI ex USA Index is a float-adjusted market capitalization index that is designed to measure the combined equity market performance of large- and mid-cap securities in developed and emerging market countries excluding the United States.

The MSCI EAFE ex Fossil Fuels Index is designed to measure the performance of companies in the MSCI EAFE Index that are "fossil fuel reserves free", which are defined as companies that do not own fossil fuel reserves. For purposes of the composition of the Index, fossil fuel are defined as proved and probable coal, oil or natural gas reserves used for energy purposes, but do not include metallurgical or coking coal, which is primarily used in connection with steel production.

The MSCI EAFE (Europe, Australasia, Far East) Factor Mix A-Series Index captures large- and mid-cap representation across 21 developed market EAFE countries and aims to represent the performance of value, low volatility, and quality factor strategies. The index is an equal weighted combination of the following three MSCI Factor Indices in a single composite index: the MSCI EAFE Value Weighted Index and the MSCI EAFE Quality Index.

The MSCI Emerging Markets ex-Fossil Fuel Index is designed to measure the performance of companies in the MSI Emerging Markets Index that are "fossil fuel reserves free," which are defined as companies that do not won fossil fuel reserves.

The MSCI Emerging Markets (EM) Factor Mix-A-Series captures large- and mid-cap representation across 27 emerging market countries and aims to represent the performance of value, low volatility and quality factor strategies.

The MSCI World Factor Mix A-Series Index captures large-and mid-cap representation across 23 developed countries and aims to represent the performance of value, low volatility, and quality factor strategies. The index is an equal weighted combination of the following three MSCI Factor Indices in a single composite index: the MSCI World Value Weighted Index, the MSCI World Minimum Volatility Index, and the MSCI World Quality Index.

The S&P^® Emerging Asia Pacific BMI Index is a float-adjusted, market capitalization weighted index designed to define and measure the investable universe of publicly traded companies domiciled in emerging Asian Pacific markets.

The S&P Emerging Markets Dividend Opportunities Index is comprised of 100 of the highest yielding emerging markets stocks that meet certain investability requirements. The stocks must have stable or increasing three-year dividend growth and stocks must be profitable, as measured by positive earnings per share before extraordinary items, over the latest 12-month period as of the rebalancing reference date.

The S&P ^® Emerging Markets Under USD2 Billion Index is a float-adjusted market capitalization weighted index designed to represent the small capitalization segment of emerging countries included in the S&P Global BMI (Broad Market Index).

The S&P Global Dividend Aristocrats Index is designed to measure the performance of high dividend-yield companies included in the S&P Global BMI (Broad Market Index) that have followed a managed-dividends policy of increasing or stable dividends for at least ten consecutive years. The S&P Global Infrastructure Index is comprised of 75 of the largest publicly listed infrastructure companies that meet specific investability requirements.

The S&P Global Infrastructure Index is comprised of 75 of the largest publicly listed infrastructure companies that meet specific investability requirements. The Index is designed to provide liquid exposure to the leading publicly listed companies in the global infrastructure industry, from both developed and emerging markets.

The S&P International Dividend Opportunities^® Index is designed to measure the performance of the 100 high-yielding international common stocks. The selection universe for the Index is the S&P Global ex-U.S. BMI (Broad Market Index) excluding China A shares.

See accompanying notes to financial statements.

Table of Contents

SPDR EURO STOXX 50 ETF

MANAGEMENT’S DISCUSSION OF FUND PERFORMANCE (UNAUDITED)

The SPDR EURO STOXX 50 ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the EURO STOXX 50 Index. The Fund’s benchmark is the EURO STOXX 50 Index (the “Index”).

For the 12-month period ended September 30, 2023 (the “Reporting Period”), the total return for the Fund was 40.03%, and the Index was 39.41%. The Fund and Index returns reflect the reinvestment of dividends and other income. The Fund’s performance reflects the expenses of managing the Fund, including brokerage and advisory expenses. The Index is unmanaged and Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns. Management fees, cash drag, the cumulative effect of security misweights and the impact of European Union (the ”EU”) reclaims received contributed to the difference between the Fund’s performance and that of the Index and were primary drivers of Fund performance during the Reporting Period.

Keeping in line with the U.S. Federal Reserve’s (the “Fed”) move, the European Central Bank (the “ECB”) also announced a lower-than-expected deposit facility rate hike of 50 bps in December 2022. Additionally, in what was being seen a positive measure to fight against the soaring energy prices in the region, the EU nations agreed to cap the rising wholesale gas prices if it were to breach €180. This will be implemented from February 2023 onward for a period of 1 year. Spain and France announced aid packages for citizens in the face of soaring inflation. Despite rapidly rising interest rates and the turmoil in the banking sector in March, economic activity in Europe surprised on the upside throughout the quarter, driven by falling energy prices and the resilience of services activity. In June, the Eurozone manufacturing sector saw its decline worsening, with the S&P Global Eurozone Manufacturing PMI coming in at 43.4, down from preliminary estimate of 43.6 and in the previous month estimate of 48.5. The demand for goods produced in the Eurozone drastically decreased, with dismal sales performances particularly noticeable in Austria, Germany and Italy. The European Central Bank’s (ECB) monetary stance appeared to be bearing fruit, as Eurozone inflation slowed to two-year lows. However, the higher interest rate took a toll on the disposable income of consumers, reflecting on the fortunes of Consumer Discretionary stocks. Although the purchasing managers indices (PMI) showed that the Eurozone was in contraction, the overall trend remained positive.

The Fund did not invest in derivatives during the Reporting Period.

On an individual security level, the top positive contributors to the Fund’s performance on an absolute basis during the Reporting Period were ASML Holding NV, LVMH Moet Hennessy Louis Vuitton SE, and TotalEnergies SE. The top negative contributors to the Fund’s performance on an absolute basis during the Reporting Period were Adyen NV, Pernod Ricard SA, and CRH PLC.

The views expressed above reflect those of the Fund’s portfolio manager only through the Reporting Period, and do not necessarily represent the views of the Adviser as a whole. Any such views are subject to change at any time based upon market or other conditions and the Adviser disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any fund.

See accompanying notes to financial statements.

Table of Contents

SPDR EURO STOXX 50 ETF

Performance Summary (Unaudited)

Performance as of September 30, 2023

	Cumulative Total Return			Average Annual Total Return
	Net Asset Value	Market Value	EURO STOXX 50 Index	Net Asset Value	Market Value	EURO STOXX 50 Index
ONE YEAR	40.03%	40.85%	39.41%	40.03%	40.85%	39.41%
FIVE YEARS	26.75%	26.39%	25.89%	4.86%	4.80%	4.71%
TEN YEARS	47.69%	46.73%	45.01%	3.98%	3.91%	3.79%

Comparison of Change in Value of a $10,000 Investment
(Based on Net Asset Value)

Line graph is based on cumulative total return.

The total expense ratio for SPDR EURO STOXX 50 ETF as stated in the Fees and Expenses table of the most recent prospectus is 0.29%. Please see the financial highlights for the total expense ratio for the fiscal period ended September 30, 2023.

Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit https://www.ssga.com/spdrs for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. See "Notes to Performance Summaries" on page 1 for more information.

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI Climate Paris Aligned ETF

MANAGEMENT’S DISCUSSION OF FUND PERFORMANCE (UNAUDITED)

The SPDR MSCI ACWI Climate Paris Aligned ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the MSCI ACWI Climate Paris Aligned Index. The Fund’s benchmark is the MSCI ACWI Climate Paris Aligned Index (the “Index”).

For the 12-month period ended September 30, 2023 (the “Reporting Period”), the total return for the Fund was 19.07%, and the Index was 18.83%. The Fund and Index returns reflect the reinvestment of dividends and other income. The Fund’s performance reflects the expenses of managing the Fund, including brokerage and advisory expenses. The Index is unmanaged and Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns. Fees and expenses, transaction costs, cash drag, cumulative effect of security misweights, tax withholdings, compounding and securities lending income contributed to the difference between the Fund’s performance and that of the Index.

The Reporting Period’s market environment was significantly influenced by the U.S. Federal Reserve (the “Fed”) as its efforts to combat the highest U.S. inflation in nearly 40 years took center stage, as did the immediate downstream effects of these large rate increases and speculation on when and if those rate increases would have to be halted, or even reversed. But there were other themes connected to tech and the prospects of artificial intelligence that were also impactful.

The Reporting Period began with markets reacting to the latest Fed rumors, moving back and forth as investors evaluated various indicators. When signs appeared that the global economy was beginning to cool, however, markets counterintuitively began to rise again, fueled by speculation that the Fed would have to roll back its tightening measures. A surging energy sector that was benefitting from higher energy prices also helped. After four consecutive 75 bps rate increases, the Fed tightened by only 50 bps at December’s meeting. However, the Fed reiterated that it would maintain its staunchly hawkish stance, capping some market exuberance but maintaining the market’s gains for the quarter.

As 2023 began, markets moved higher as investors interpreted inflation, GDP and headline unemployment numbers as net positives, despite some weakening corporate earnings. But the sudden collapse of Silicon Valley Bank and the deposit vulnerability it exposed in regional banks-driven by depositors chasing higher yields available in money market funds and the like-significantly rattled investors. Fortunately, when regulatory bailouts appeared to limit bank failures and contain the financial contagion, the markets recovered with surprising strength connected to newfound enthusiasm for tech companies and all things AI-related. The energy sector was down 18.7% for this quarter ending March 2023. Excess inventory and declining demand due to warmer-than-normal weather conditions pushed gas prices lower.

This enthusiasm continued into the second quarter, assisted by falling inflation and a June pause in rate hikes. To a large degree, though, market gains were dominated by a handful of tech giants. The enthusiasm for AI lifted by chip makers to tremendous gains, but many other large tech names benefitted too. The performance concentration in the largest tech names that drove markets to ever higher levels was definitely noted, but concerns about lack of market breadth did not seem to unsettle investors. The energy sector fell modestly during the quarter ending June 30, as higher natural gas prices partially offset declines in brent and crude.

Markets continued to climb after June’s U.S. inflation number came in at only 3%, which was its slowest pace in more than two years and which reinvigorated investors on the idea that a soft landing might indeed be possible. But a downgrade of the United States’ credit rating on August 1st put an end to the euphoria. That, combined with record high mortgage interest rates, additional regional bank downgrades and concerns about the Chinese property market and its impact on China’s overall economy, put newfound fear into investor sentiment. Tech names sold off particularly strongly as the Fed communicated that it might hold rates higher for longer than expected, giving markets a tough September to end the year-long period. The energy sector posted robust gains during this last quarter ending September 2023. Crude oil prices were supported by OPEC+ production cuts that squeezed global crude supply. Tighter-than-expected crude supplies in the U.S. also weighed on oil prices.

The Fund did not invest in derivatives during the Reporting Period.

On an individual security level, the top positive contributors to the Fund’s performance on an absolute basis during the Reporting Period were NVIDIA Corp., Rolls-Royce Holdings PLC, and Advantest Corp.. The top negative contributors to the Fund’s performance on an absolute basis during the Reporting Period were SVB Financial Group, First Republic Bank, and Americanas SA.

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI Climate Paris Aligned ETF

Performance Summary (Unaudited)

Performance as of September 30, 2023

	Cumulative Total Return			Average Annual Total Return
	Net Asset Value⁽¹⁾	Market Value⁽¹⁾	MSCI ACWI Climate Paris Aligned Index⁽²⁾	Net Asset Value⁽¹⁾	Market Value⁽¹⁾	MSCI ACWI Climate Paris Aligned Index⁽²⁾
ONE YEAR	19.07%	19.28%	18.83%	19.07%	19.28%	18.83%
FIVE YEARS	35.39%	35.72%	34.78%	6.25%	6.30%	6.15%
SINCE INCEPTION⁽³⁾	80.14%	80.08%	77.63%	6.88%	6.87%	6.71%

(1)	Effective 4/22/22, the Fund’s benchmark index changed from the MSCI ACWI Low Carbon Target Index. The Fund’s performance in the tables is based on the Fund’s prior investment strategy to track a different benchmark index for respective periods prior to 4/22/22.
(2)	The MSCI ACWI Climate Paris Aligned Index reflects linked performance returns of both the MSCI ACWI Climate Paris Aligned Index and the MSCI ACWI Low Carbon Target Index. The index returns are reflective of the MSCI ACWI Low Carbon Target Index from fund inception until 4/22/2022 and of the MSCI ACWI Climate Paris Aligned Index effective 4/22/2022.
(3)	For the period November 25, 2014 to September 30, 2023. Since shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (11/25/14, 11/26/14, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns.

Comparison of Change in Value of a $10,000 Investment
(Based on Net Asset Value)

Line graph is based on cumulative total return.

The total expense ratio for SPDR MSCI ACWI Climate Paris Aligned ETF as stated in the Fees and Expenses table of the most recent prospectus is 0.12%. Please see the financial highlights for the total expense ratio for the fiscal period ended September 30, 2023.

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI ex-US ETF

MANAGEMENT’S DISCUSSION OF FUND PERFORMANCE (UNAUDITED)

The SPDR MSCI ACWI ex-US ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index based upon broad based world (ex-U.S.) equity markets. The Fund’s benchmark is the MSCI ACWI ex USA Index (the “Index”).

For the 12-month period ended September 30, 2023 (the “Reporting Period”), the total return for the Fund was 20.80%, and the Index was 20.39%. The Fund and Index returns reflect the reinvestment of dividends and other income. The Fund’s performance reflects the expenses of managing the Fund, including brokerage and advisory expenses. The Index is unmanaged and Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns. Fund expenses, cash drag, securities lending income, compounding and slight variations between the Fund’s holdings and the Index constituents contributed to the difference between the Fund’s performance and that of the Index.

After three consecutive quarters of negative performance, the last quarter of 2022 ended the year positively for global equities, largely due to the equity rallies seen during October and November. However, the sustainability of these gains was in doubt, as the high inflationary environment continued globally, with no end in sight for the Russia-Ukraine war. Despite the tough ending to the last quarter of 2022, the fund still enjoyed gains of over 15% for the same three month period.

Global equity markets proved to be resilient in the first quarter of 2023. Markets started the year with a strong January rally for equities driven by a decline in inflation and prospects of easier monetary policy. February saw a moderate pullback due to sticky core inflation, which together with strong economic data forced investors to reassess their interest rate expectations. In March, the collapse of Silicon Valley Bank and broader concerns around the financial sector hit bank shares hard. However, investors took comfort as regulators and central banks once again intervened to stabilize the sector. The fund completed the first quarter of the new calendar year with positive returns of almost 8%.

During the second quarter of 2023, the positive momentum continued to decline, but the Fund still managed to finish in positive territory with returns close to 3%. April saw an increase in global shares, backed by some solid economic data. In May, global markets showed mixed reactions, as investors were worried about the potential for further rate hikes in the U.S. and Europe. Global equity markets were generally higher in June as the turmoil of the U.S. debt ceiling negotiations faded. Instead, investors took encouragement from economic data, which indicated that U.S. inflation was moving in the right direction while the job markets remained healthy. Corporate earnings held up better than expected as there was a possibility that the U.S. Federal Reserve (the “Fed”) did enough to get inflation under control. The yield curve was still warning of a possible recession, but investors were happy to add to holdings in the U.S. Data from Europe was mixed with some countries seeing steady falls in inflation while for others it remained stubbornly high. In local currency, Japan was the strongest of all , but a weakening yen detracted in common currency terms.

Global equity markets hit 2023 highs in July, as inflation showed signs of easing in many regions. In August, Chinese real estate worries dampened investor sentiments. By September, investors were further spooked by the prospects of the high interest rates regime persisting. Over the course of the quarter, crude oil prices rose by almost 30%. While this boosted oil-producers and regions such as the United Kingdom (UK), investors weighed in on its potential impact on inflation.

The Fund used equity index futures in order to track the index during the Reporting Period. The Fund’s use of futures helped the fund track the index.

On an individual security level, the top positive contributors to the Fund’s performance during the Reporting Period were Novo Nordisk AS Class B, ASML Holding NV, and Samsung Electronics Co., Ltd. The top negative contributors to the Fund’s performance during the Reporting Period were Meituan Class B, Roche Holding AG, and JD.com, Inc..

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI ex-US ETF

Performance Summary (Unaudited)

Performance as of September 30, 2023

	Cumulative Total Return			Average Annual Total Return
	Net Asset Value	Market Value	MSCI ACWI ex USA Index	Net Asset Value	Market Value	MSCI ACWI ex USA Index
ONE YEAR	20.80%	20.92%	20.39%	20.80%	20.92%	20.39%
FIVE YEARS	15.18%	14.89%	13.57%	2.87%	2.82%	2.58%
TEN YEARS	42.87%	42.24%	38.99%	3.63%	3.59%	3.35%

Comparison of Change in Value of a $10,000 Investment
(Based on Net Asset Value)

Line graph is based on cumulative total return.

The total expense ratio for SPDR MSCI ACWI ex-US ETF as stated in the Fees and Expenses table of the most recent prospectus is 0.30%. Please see the financial highlights for the total expense ratio for the fiscal period ended September 30, 2023.

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE Fossil Fuel Reserves Free ETF

MANAGEMENT’S DISCUSSION OF FUND PERFORMANCE (UNAUDITED)

The SPDR MSCI EAFE Fossil Fuel Reserves Free ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the MSCI EAFE ex Fossil Fuels Index. The Fund’s benchmark is the MSCI EAFE ex Fossil Fuels Index (the “Index”).

For the 12-month period ended September 30, 2023 (the “Reporting Period”), the total return for the Fund was 24.61%, and the Index was 24.74%. The Fund and Index returns reflect the reinvestment of dividends and other income. The Fund’s performance reflects the expenses of managing the Fund, including brokerage and advisory expenses. The Index is unmanaged and Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns. Fees and expenses, cash drag, the cumulative effect of security misweights, and tax withholdings contributed to the difference between the Fund’s performance and that of the Index.

The Reporting Period’s market environment was significantly influenced by the U.S. Federal Reserve (the “Fed”) and central banks, as their efforts to combat the highest inflation rates around the globe in decades took center stage, as did the immediate downstream effects of these large rate increases and speculation on when and if those rate increases would have to be halted, or even reversed. But there were other themes connected to tech and the prospects of artificial intelligence that were also impactful.

As the first quarter of 2023 began, markets moved higher as investors interpreted inflation, GDP and headline unemployment numbers as net positives, despite some weakening corporate earnings. But the sudden collapse of Silicon Valley Bank and the deposit vulnerability it exposed in regional banks-driven by depositors chasing higher yields available in money market funds and the like-significantly rattled investors. Fortunately, when regulatory bailouts appeared to limit bank failures and contain the financial contagion, the markets recovered with surprising strength connected to newfound enthusiasm for tech companies and all things AI-related.

This enthusiasm continued into the second quarter of 2023, assisted by falling inflation and a June pause in rate hikes. To a large degree, though, market gains were dominated by a handful of tech giants. The enthusiasm for AI lifted chip makers to tremendous gains, but many other large tech names benefitted too. The performance concentration in the largest tech names that drove markets to ever higher levels was definitely noted, but concerns about lack of market breadth did not seem to unsettle investors.

During the Reporting Period, the Fund slightly underperformed the MSCI EAFE Index’s return of 25.65%. This difference was driven primarily by the exclusion of Fossil Fuel companies, the majority of which come from the energy sector. Given the energy sector’s outperformance during the Reporting Period, the exclusion of many of these names naturally detracted from the Fund’s performance compared to the MSCI EAFE Index.

The Fund did not invest in derivatives during the Reporting Period.

On an individual security level, the top positive contributors to the Fund’s performance during the Reporting Period were Novo Nordisk AS Class B, ASML Holding NV, and Novartis AG. The top negative contributors to the Fund’s performance during the Reporting Period were Roche Holding AG, Anglo American Platinum, Ltd., and Credit Suisse.

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE Fossil Fuel Reserves Free ETF

Performance Summary (Unaudited)

Performance as of September 30, 2023

	Cumulative Total Return			Average Annual Total Return
	Net Asset Value	Market Value	MSCI EAFE ex Fossil Fuels Index	Net Asset Value	Market Value	MSCI EAFE ex Fossil Fuels Index
ONE YEAR	24.61%	25.27%	24.74%	24.61%	25.27%	24.74%
FIVE YEARS	15.64%	15.12%	15.84%	2.95%	2.86%	2.98%
SINCE INCEPTION⁽¹⁾	41.87%	41.66%	41.77%	5.17%	5.15%	5.16%

(1)

For the period October 24, 2016 to September 30, 2023. Since shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (10/24/16, 10/25/16, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns.

Comparison of Change in Value of a $10,000 Investment
(Based on Net Asset Value)

Line graph is based on cumulative total return.

The total expense ratio for SPDR MSCI EAFE Fossil Fuel Reserves Free ETF as stated in the Fees and Expenses table of the most recent prospectus is 0.20%. Please see the financial highlights for the total expense ratio for the fiscal period ended September 30, 2023.

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE StrategicFactors ETF

MANAGEMENT’S DISCUSSION OF FUND PERFORMANCE (UNAUDITED)

The SPDR MSCI EAFE StrategicFactors ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index based upon the European, Australasian, and Far Eastern developed equity markets. The Fund’s benchmark is the MSCI EAFE Factor Mix A-Series Index (the “Index”).

For the 12-month period ended September 30, 2023 (the “Reporting Period”), the total return for the Fund was 23.45%, and the Index was 23.73%. The Fund and Index returns reflect the reinvestment of dividends and other income. The Fund’s performance reflects the expenses of managing the Fund, including brokerage and advisory expenses. The Index is unmanaged and Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns. Cumulative cash drag, security misweights and tax withholding differences contributed to the difference between the Fund’s performance and that of the Index.

The global economy decelerated further in the fourth quarter of 2022, with inflation showing signs of slowing down in the U.S. and peaking in the Eurozone and Japan. However, key central banks continued with their hawkish tone, which further dented market sentiments toward the end of the calendar quarter. After three consecutive quarters of negative performance, the last quarter of 2022 ended the year positively for global equities largely due to the equity rallies seen during October and November. However, the sustainability of these gains was in doubt, as the high inflationary environment continued globally, with no end in sight for the Russia-Ukraine war.

Global equity markets continued to prove resilient in the first quarter of 2023. Markets started the calendar year with a strong January rally for equities driven by a decline in inflation and prospects of easier monetary policy. February saw a moderate pullback due to sticky core inflation, which together with strong economic data forced investors to reassess their interest rate expectations. In March, the collapse of Silicon Valley Bank and broader concerns around the financial sector hit bank shares hard. However, investors took comfort as regulators and central banks once again intervened to stabilize the sector.

This momentum continued in to the second quarter of 2023 as the global economy expanded. April saw an increase in global shares, backed by some solid economic data. In May, global markets showed mixed reactions, as investors were worried about the potential for further rate hikes in the U.S. and Europe and slow growth in China. Global equity markets were generally higher in June as the turmoil of the U.S. debt ceiling negotiations faded. Instead, investors took encouragement from economic data, which indicated that U.S. inflation was moving in the right direction while the job markets remained healthy.

Global equity markets hit 2023 highs in July, as inflation showed signs of easing in many regions. In August, Chinese real estate worries dampened investor sentiments. By September, investors were further spooked by the prospects of the high interest rates regime persisting. Over the course of the third quarter of 2023, crude oil prices rose by almost 30%. While this boosted oil-producers and regions such as the United Kingdom (UK), investors weighed in on its potential impact on inflation.

The Fund did not invest in derivatives during the Reporting Period.

On an individual security level, the top positive contributors to the Fund’s performance on an absolute basis during the Reporting Period were Novo Nordisk AS Class B, ASML Holding NV, and Novartis AG. The top negative contributors to the Fund’s performance on an absolute basis during the Reporting Period were Credit Suisse Group AG, Roche Holding AG, and Hang Seng Bank, Ltd.

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE StrategicFactors ETF

Performance Summary (Unaudited)

Performance as of September 30, 2023

	Cumulative Total Return			Average Annual Total Return
	Net Asset Value	Market Value	MSCI EAFE Factor Mix A-Series Index	Net Asset Value	Market Value	MSCI EAFE Factor Mix A-Series Index
ONE YEAR	23.45%	23.50%	23.73%	23.45%	23.50%	23.73%
FIVE YEARS	20.44%	19.67%	20.60%	3.79%	3.66%	3.82%
SINCE INCEPTION⁽¹⁾	41.98%	41.36%	42.71%	3.83%	3.78%	3.89%

(1)

For the period June 4, 2014 to September 30, 2023. Since shares of the Fund did not trade in the secondary market until the day after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (6/4/14, 6/5/14, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns.

Comparison of Change in Value of a $10,000 Investment
(Based on Net Asset Value)

Line graph is based on cumulative total return.

The total expense ratio for SPDR MSCI EAFE StrategicFactors ETF as stated in the Fees and Expenses table of the most recent prospectus is 0.30%. Please see the financial highlights for the total expense ratio for the fiscal period ended September 30, 2023.

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF

MANAGEMENT’S DISCUSSION OF FUND PERFORMANCE (UNAUDITED)

The SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the MSCI Emerging Markets ex Fossil Fuels Index. The Fund’s benchmark is the MSCI Emerging Markets ex Fossil Fuels Index (the “Index”).

For the 12-month period ended September 30, 2023 (the “Reporting Period”), the total return for the Fund was 11.20%, and the Index was 11.15%. The Fund and Index returns reflect the reinvestment of dividends and other income. The Fund’s performance reflects the expenses of managing the Fund, including brokerage and advisory expenses. The Index is unmanaged and Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns. Cash drag, security misweights, securities lending income, tax withholding differences and compounding (the exponential growth of outperformance or underperformance) also contributed to the difference between the Fund’s performance and that of the Index.

The Fund started out the Reporting Period with positive returns, alongside the overall MSCI Emerging Markets Index, both which gained close to 10% in USD terms. Commodity producing Latin American and Middle Eastern countries contributed to the positive gains within the broad Index. During the same period, Turkey, Poland and Hungary were also among the best MSCI Emerging Markets ex Fossil Fuels Index performers.

Emerging Markets (the “EM”) equities had a positive second quarter of the Reporting Period, though not as strong as the final three months of 2022. Both the Fund and the Index gained slightly more than 4%. Czech Republic, Mexico and Greece were among the best MSCI EM countries. Columbia was the worst performer, losing over 13% during the same period. Following closely behind in losses were Turkey and UAE. China doing away with its zero-COVID-19 policy led to a strong rebound in its economy beginning in January, while inflation remained surprisingly low, allowing the People’s Bank of China to maintain an easy monetary policy.

The Index was flat during the third quarter of the Reporting Period. Although Hungary was able to top EM country performance, returning a solid 24.8%, Poland was not far behind with gains of 24.5%. Greece also outperformed, as the ruling New Democracy party won a second term in office in May, indicating a continuation of market friendly policies. Korea and Taiwan outperformance was led by technology names on optimism about AI growth. Despite many other countries’ following with positive returns, EM stocks were held back by the underperformance in China. Debt ceiling uncertainty in the U.S. also added to the negative mood, which was resolved in June. South Africa was one of the worst performers as crippling power cuts, volatile commodity prices and a challenging external environment continued to weaken the country’s growth performance. Turkey was another laggard as President Recep Tayyip Erdogan won the re-election in May, extending his two-decade rule.

Although the Fund ended the final quarter in Reporting Period in the red, EM stocks still managed to perform marginally better than their developed market (the “DM”) counterparts. China continued to be a laggard, with debt concerns around the domestic real estate sector spooking investors. A few countries that outperformed the broader EM were Turkey, Egypt, and India, while Poland, Chile, and South Africa underperformed. The crippling power cuts that plagued South Africa in the second quarter of 2023 continued through the third quarter of 2023, dragging down local markets. While Turkey had a forgettable the second quarter from President Recep Tayyip Erdogan’s re-election, the fact that central bank hiked rates lent confidence to investors, driving stronger returns in stocks.

The Fund did not invest in derivatives during the Reporting Period.

On an individual security level, the top positive contributors to the Fund’s performance during the Reporting Period were Samsung Electronics Co., Ltd., Taiwan Semiconductor Manufacturing Co., Ltd. and Tencent Holdings, Ltd. The top negative contributors to the Fund’s performance during the Reporting Period were Meituan Class B, JD.com, Inc. and Saudi National Bank.

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF

Performance Summary (Unaudited)

Performance as of September 30, 2023

	Cumulative Total Return			Average Annual Total Return
	Net Asset Value	Market Value	MSCI Emerging Markets ex Fossil Fuels Index	Net Asset Value	Market Value	MSCI Emerging Markets ex Fossil Fuels Index
ONE YEAR	11.20%	12.12%	11.15%	11.20%	12.12%	11.15%
FIVE YEARS	2.88%	2.80%	3.17%	0.57%	0.55%	0.63%
SINCE INCEPTION⁽¹⁾	21.51%	21.29%	21.34%	2.85%	2.82%	2.83%

(1)

Comparison of Change in Value of a $10,000 Investment
(Based on Net Asset Value)

Line graph is based on cumulative total return.

The total expense ratio for SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF as stated in the Fees and Expenses table of the most recent prospectus is 0.30%. Please see the financial highlights for the total expense ratio for the fiscal period ended September 30, 2023.

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI Emerging Markets StrategicFactors ETF

MANAGEMENT’S DISCUSSION OF FUND PERFORMANCE (UNAUDITED)

The SPDR MSCI Emerging Markets StrategicFactors ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index based upon the emerging equity markets of the world. The Fund’s benchmark is the MSCI Emerging Markets (EM) Factor Mix A-Series Index (the “Index”).

For the 12-month period ended September 30, 2023 (the “Reporting Period”), the total return for the Fund was 11.03%, and the Index was 11.99%. The Fund and Index returns reflect the reinvestment of dividends and other income. The Fund’s performance reflects the expenses of managing the Fund, including brokerage and advisory expenses. The Index is unmanaged and Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns. The cumulative effect of security misweights, fees and expenses, cash drag, and tax withholdings contributed to the difference between the Fund’s performance and that of the Index.

The Reporting Period began with markets reacting to the Fed’s rumors, moving back and forth as investors evaluated various indicators. When signs appeared that the global economy was beginning to cool, however, markets counterintuitively began to rise again, fueled by speculation that the Fed would have to roll back its tightening measures. A surging energy sector that was benefitting from higher energy prices also helped. After four consecutive 75 bps rate increases, the Fed tightened by only 50 bps at December’s meeting. However, the Fed reiterated that it would maintain its staunchly hawkish stance, capping some market exuberance but maintaining the market’s gains for the last quarter of 2022.

As first quarter of 2023 began, markets moved higher as investors interpreted inflation, GDP and headline unemployment numbers as net positives, despite some weakening corporate earnings. But the sudden collapse of Silicon Valley Bank and the deposit vulnerability it exposed in regional banks-driven by depositors chasing higher yields available in money market funds and the like-significantly rattled investors. Fortunately, when regulatory bailouts appeared to limit bank failures and contain the financial contagion, the markets recovered with surprising strength connected to newfound enthusiasm for tech companies and all things AI-related.

This enthusiasm continued into the second quarter of 2023, assisted by falling inflation and a June pause in rate hikes. To a large degree, though, market gains were dominated by a handful of tech giants. The enthusiasm for AI-lifted chip makers to tremendous gains, but many other large tech names benefitted too. The performance concentration in the largest tech names that drove markets to ever higher levels was definitely noted, but concerns about lack of market breadth did not seem to unsettle investors.

During the Reporting Period, the Index’s return of 11.99% was somewhat similar to the MSCI Emerging Markets Index return of 11.70%. Although value names in emerging markets generally outperformed for the year, both quality names and low volatility names tended to underperform. These disparate performances tended to offset each other, resulting in performance differences between the Index and the MSCI Emerging Markets Index that were not drastic.

The Fund did not invest in derivatives during the Reporting Period.

On an individual security level, the top positive contributors to the Fund’s performance during the Reporting Period were Taiwan Semiconductor Manufacturing Co. Ltd., Samsung Electronics Co. Ltd., and PDD Holdings, Inc. ADR.. The top negative contributors to the Fund’s performance during the Reporting Period were Adani Total Gas Ltd., Al Rajhi Bank, and Masraf Al-Rayan QSC.

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI Emerging Markets StrategicFactors ETF

Performance Summary (Unaudited)

Performance as of September 30, 2023

	Cumulative Total Return			Average Annual Total Return
	Net Asset Value	Market Value	MSCI Emerging Markets Factor Mix A-Series Index	Net Asset Value	Market Value	MSCI Emerging Markets Factor Mix A-Series Index
ONE YEAR	11.03%	11.98%	11.99%	11.03%	11.98%	11.99%
FIVE YEARS	6.99%	7.19%	10.06%	1.36%	1.40%	1.94%
SINCE INCEPTION⁽¹⁾	15.53%	15.24%	22.60%	1.56%	1.53%	2.21%

(1)

Comparison of Change in Value of a $10,000 Investment
(Based on Net Asset Value)

Line graph is based on cumulative total return.

The total expense ratio for SPDR MSCI Emerging Markets StrategicFactors ETF as stated in the Fees and Expenses table of the most recent prospectus is 0.30%. Please see the financial highlights for the total expense ratio for the fiscal period ended September 30, 2023.

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI World StrategicFactors ETF

MANAGEMENT’S DISCUSSION OF FUND PERFORMANCE (UNAUDITED)

The SPDR MSCI World StrategicFactors ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index based upon the developed equity markets of the world. The Fund’s benchmark is the MSCI World Factor Mix A-Series Index (the “Index”).

For the 12-month period ended September 30, 2023 (the “Reporting Period”), the total return for the Fund was 21.40%, and the Index was 21.16%. The Fund and Index returns reflect the reinvestment of dividends and other income. The Fund’s performance reflects the expenses of managing the Fund, including brokerage and advisory expenses. The Index is unmanaged and Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns. Optimization and dividend tax withholdings contributed to the difference between the Fund’s performance and that of the Index.

The Index returned a positive 11.24% in the last quarter of 2022. When signs appeared that the global economy was beginning to cool, however, markets counterintuitively began to rise again, fueled by speculation that the U.S. Federal Reserve (the “Fed”) would have to roll back its tightening measures. A surging energy sector that was benefitting from higher energy prices also helped.

As 2023 began, markets moved higher as investors interpreted inflation, GDP and headline unemployment numbers as net positives, despite some weakening corporate earnings. When regulatory bailouts appeared to limit bank failures and contain the financial contagion, the markets recovered with surprising strength connected to newfound enthusiasm for tech companies and all things AI-related. The Index had its second positive return of 5.87% in the first quarter of 2023.

This enthusiasm continued into the second quarter of 2023 as the Index returned its third consecutive positive return of 5.51%, which was assisted by falling inflation and a June pause in rate hikes. To a large degree, though, market gains were dominated by a handful of tech giants. The enthusiasm for AI lifted chip makers to tremendous gains, but many other large tech names benefitted too.

A downgrade of the United States’ credit rating on August 1st put an end to the previous quarter returns. That, combined with record high mortgage interest rates, additional regional bank downgrades and concerns about the Chinese property market and its impact on China’s overall economy, put newfound fear into investor sentiment. Tech names sold off particularly strongly as the U.S. Federal Reserve communicated that it might hold rates higher for longer than expected, giving markets a tough September to end the year-long period with a negative return of 2.48% for the Index.

The Fund did not invest in derivatives during the Reporting Period.

On an individual security level, the top positive contributors to the Fund’s performance during the Reporting Period were NVIDIA Corp., Meta Platforms, Inc., and Microsoft Corp.. The top negative contributors to the Fund’s performance during the Reporting Period were Roche Holding AG, Pfizer, Inc., and Dollar General Corp..

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI World StrategicFactors ETF

Performance Summary (Unaudited)

Performance as of September 30, 2023

	Cumulative Total Return			Average Annual Total Return
	Net Asset Value	Market Value	MSCI World Factor Mix A-Series Index	Net Asset Value	Market Value	MSCI World Factor Mix A-Series Index
ONE YEAR	21.40%	21.75%	21.16%	21.40%	21.75%	21.16%
FIVE YEARS	42.59%	43.13%	41.79%	7.35%	7.44%	7.23%
SINCE INCEPTION⁽¹⁾	107.12%	107.42%	104.13%	8.12%	8.14%	7.95%

(1)

Comparison of Change in Value of a $10,000 Investment
(Based on Net Asset Value)

Line graph is based on cumulative total return.

The total expense ratio for SPDR MSCI World StrategicFactors ETF as stated in the Fees and Expenses table of the most recent prospectus is 0.30%. Please see the financial highlights for the total expense ratio for the fiscal period ended September 30, 2023.

See accompanying notes to financial statements.

Table of Contents

SPDR S&P Emerging Asia Pacific ETF

MANAGEMENT'S DISCUSSION OF FUND PERFORMANCE (UNAUDITED)

The SPDR S&P Emerging Asia Pacific ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index based upon the emerging markets of the Asia Pacific region. The Fund’s benchmark is the S&P Emerging Asia Pacific BMI Index (the “Index”).

For the 12-month period ended September 30, 2023 (the “Reporting Period”), the total return for the Fund was 11.28%, and the Index was 10.66%. The Fund and Index returns reflect the reinvestment of dividends and other income. The Fund’s performance reflects the expenses of managing the Fund, including brokerage and advisory expenses. The Index is unmanaged and Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns. Cash drag, tax withholding differences, securities lending income, and cumulative effects of security mis-weights contributed to the difference between the Fund’s performance and that of the Index. Security misweights, and tax withholdings were primary drivers of Fund performance during the Reporting Period.

The Index delivered the best quarter by gaining 8.6% in last quarter of 2022. This quarter’s most significant news driving this positive momentum was China moving away from its zero-COVID-19 policy and lifting its COVID-19 restrictions after three years. This, of course, meant a spike in COVID-19 cases in the region, but the easing also implied a resurgence of trade from China. However, the sustainability of these gains was in doubt, as the high inflationary environment continued globally, with no end in sight for the Russia-Ukraine war.

The Index sustained its upward trend during the first quarter of 2023 by adding another 3.5% during this period. Notwithstanding the ongoing geopolitical tensions, elevated energy and food prices, and the effects of global monetary policy tightening, the global economy proved more resilient than expected in this quarter. China’s quick recovery provided a further boost. Economic activity rose across advanced economies. The manufacturing sector performed less well, while the service sector continued to exhibit strength. Inflation continued to slow down but remained elevated. Global equity markets proved to be resilient during the quarter as markets started the year with a strong January rally for equities driven by a decline in inflation and prospects of easier monetary policy. February saw a moderate pullback due to sticky core inflation, which together with strong economic data forced investors to reassess their interest rate expectations. In March, the collapse of several banks sparked fears of financial instability, but investors took comfort as regulators and central banks once again intervened to stabilize the sector.

The Index modestly lost 0.5% in the second quarter of 2023. Markets in India were strong, driven by foreign inflows and steady earnings whereas Taiwan and Indonesia also advanced moderately. The Philippines and Singapore ended the quarter with negative returns. China was the worst performer and had the largest impact to the Index given that the country weight is over 40% of the Index. In China, record high youth unemployment, consumer unwillingness to spend and soft demand at home and abroad were some of the major concerns.

The Index finished the last quarter of the fiscal year on a downward trend by losing another 1% amid higher interest rates and risk of financial instability in China. Additionally, global economic growth remained lackluster during this quarter, with manufacturing activities contracting for the fourth month running and services sector growth also slowing down. Global equity markets were boosted in July as inflation showed signs of easing in many regions. In August, Chinese real estate worries dampened investor sentiments. Many markets, including Taiwan saw spillover effects from Evergrande and the broader debt concerns around Chinese real estate names. By September, investors were further spooked by the prospects of the high interest rates regime persisting. Over the course of the quarter, crude oil prices rose by almost 30%.

The Fund did not invest in derivatives during the Reporting Period.

On an individual security level, the top positive contributors to the Fund’s performance on an absolute basis during the Reporting Period were Taiwan Semiconductor Manufacturing Co., Ltd., Tencent Holdings Ltd. and Quanta Computer, Inc.. The top negative contributors to the Fund’s performance on an absolute basis during the Reporting Period were Meituan Class B, JD.com, Inc. Class A, and NIO, Inc. Class A.

See accompanying notes to financial statements.

Table of Contents

SPDR S&P Emerging Asia Pacific ETF

Performance Summary (Unaudited)

Performance as of September 30, 2023

	Cumulative Total Return			Average Annual Total Return
	Net Asset Value	Market Value	S&P Asia Pacific Emerging BMI Index	Net Asset Value	Market Value	S&P Asia Pacific Emerging BMI Index
ONE YEAR	11.28%	11.49%	10.66%	11.28%	11.49%	10.66%
FIVE YEARS	12.31%	11.96%	13.27%	2.35%	2.29%	2.52%
TEN YEARS	61.79%	60.93%	63.59%	4.93%	4.87%	5.04%

Comparison of Change in Value of a $10,000 Investment
(Based on Net Asset Value)

Line graph is based on cumulative total return.

The total expense ratio for SPDR S& P Emerging Asia Pacific ETF as stated in the Fees and Expenses table of the most recent prospectus is 0.49%. Please see the financial highlights for the total expense ratio for the fiscal period ended September 30, 2023.

See accompanying notes to financial statements.

Table of Contents

SPDR S&P Emerging Markets Dividend ETF

MANAGEMENT’S DISCUSSION OF FUND PERFORMANCE (UNAUDITED)

The SPDR S&P Emerging Markets Dividend ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks dividend paying securities of publicly-traded companies in emerging markets. The Fund’s benchmark is the S&P Emerging Markets Dividend Opportunities Index (the “Index”).

For the 12-month period ended September 30, 2023 (the “Reporting Period”), the total return for the Fund was 39.27%, and the Index was 41.63%. The Fund and Index returns reflect the reinvestment of dividends and other income. The Fund’s performance reflects the expenses of managing the Fund, including brokerage and advisory expenses. The Index is unmanaged and Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns. Fees and expenses, cash drag, cumulative effect of security misweights, tax withholdings contributed to the difference between the Fund’s performance and that of the Index.

Global economic growth remained lackluster in the past 12 months, with manufacturing activities contracting for four straight months and services sector growth also slowing down. Broad emerging stocks performed significantly worse than their developed market (the “DM”) counterparts over the Reporting Period. China continued to be a laggard, with debt concerns around the domestic real estate sector spooking investors. In China, the economy stalled somewhat in September, with retail sales, pricing power, and loan growth weakening, compared to August numbers. The Index outperformed MSCI Emerging Markets by nearly 30% with most of outperformance coming from the dividend stock selection in Taiwan and China. Information technology sector was the strongest performing sector in the Index and drove majority of the returns for the Reporting Period. Technology names led strong performance was based on optimism about AI growth. Behind Information Technology, Financials, Energy, and Utilities, were the strongest sectors contributing to the Fund’s return.

The Fund used emerging markets Index futures in order to equitize cash and receivables in the fund during the Reporting Period. The Fund’s use of futures helped the Fund track the Index.

On an individual security level, the top positive contributors to the Fund’s performance on an absolute basis during the Reporting Period were Quanta Computer, Inc., Wistron Corp., and Lite-On Technology Corp.. The top negative contributors to the Fund’s performance on an absolute basis during the Reporting Period were Saudi Telecom Co., Banco Bradesco SA Pfd, and Wiwynn Corp..

See accompanying notes to financial statements.

Table of Contents

SPDR S&P Emerging Markets Dividend ETF

Performance Summary (Unaudited)

Performance as of September 30, 2023

	Cumulative Total Return			Average Annual Total Return
	Net Asset Value	Market Value	S&P Emerging Markets Dividend Opportunities Index	Net Asset Value	Market Value	S&P Emerging Markets Dividend Opportunities Index
ONE YEAR	39.27%	41.24%	41.63%	39.27%	41.24%	41.63%
FIVE YEARS	19.24%	19.62%	23.57%	3.58%	3.65%	4.32%
TEN YEARS	11.65%	11.59%	22.68%	1.11%	1.10%	2.07%

Comparison of Change in Value of a $10,000 Investment
(Based on Net Asset Value)

Line graph is based on cumulative total return.

The total expense ratio for SPDR S& P Emerging Markets Dividend ETF as stated in the Fees and Expenses table of the most recent prospectus is 0.49%. Please see the financial highlights for the total expense ratio for the fiscal period ended September 30, 2023.

See accompanying notes to financial statements.

Table of Contents

SPDR S&P Emerging Markets Small Cap ETF

MANAGEMENT’S DISCUSSION OF FUND PERFORMANCE (UNAUDITED)

The SPDR S&P Emerging Markets Small Cap ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the small capitalization segment of global emerging market countries. The Fund’s benchmark is the S&P Emerging Markets Under USD2 Billion Index (the “Index”).

For the 12-month period ended September 30, 2023 (the “Reporting Period”), the total return for the Fund was 20.50%, and the Index was 21.40%. The Fund and Index returns reflect the reinvestment of dividends and other income. The Fund’s performance reflects the expenses of managing the Fund, including brokerage and advisory expenses. The Index is unmanaged and Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns. Fees and expenses, transaction costs, cash drag, and the cumulative effect of security misweights contributed to the difference between the Fund’s performance and that of the Index.

With an overall risk positive environment, emerging market small cap equities outperformed their large and mid-cap equity counterparts over the Reporting Period. Taiwan (the largest country weight in the Fund) was the top performing country, led by the information technology sector and the optimism about the growth of artificial intelligence. India small cap companies also performed well, led by the industrials sector, as the rapidly growing local economy provides demand for capital goods and transportation. China faced challenges as consumption spending and industrial activity remained weak and geopolitical tensions with China and U.S. persisted. The Fund had less exposure to China which also contributed to the outperformance compared to large and mid-cap equities.

The Fund used index equity futures in order to equitize dividend receivables and cash during the Reporting Period. The Fund’s use of futures helped the Fund track the Index.

On an individual security level, the top positive contributors to the Fund’s performance during the Reporting Period were Alchip Technologies Ltd., Gigabyte Technology Co., and MINISO Group Holding. The top negative contributors to the Fund’s performance during the Reporting Period were Transaction Capital Ltd., Grupo Casas Bahia S.A, and Telkom SA.

See accompanying notes to financial statements.

Table of Contents

SPDR S&P Emerging Markets Small Cap ETF

Performance Summary (Unaudited)

Performance as of September 30, 2023

	Cumulative Total Return			Average Annual Total Return
	Net Asset Value	Market Value	S&P Emerging Markets Under USD2 Billion Index	Net Asset Value	Market Value	S&P Emerging Markets Under USD2 Billion Index
ONE YEAR	20.50%	20.84%	21.40%	20.50%	20.84%	21.40%
FIVE YEARS	37.16%	37.21%	41.55%	6.52%	6.53%	7.20%
TEN YEARS	51.54%	53.42%	58.42%	4.24%	4.37%	4.71%

Comparison of Change in Value of a $10,000 Investment
(Based on Net Asset Value)

Line graph is based on cumulative total return.

The total expense ratio for SPDR S& P Emerging Markets Small Cap ETF as stated in the Fees and Expenses table of the most recent prospectus is 0.65%. Please see the financial highlights for the total expense ratio for the fiscal period ended September 30, 2023.

See accompanying notes to financial statements.

Table of Contents

SPDR S&P Global Dividend ETF

MANAGEMENT’S DISCUSSION OF FUND PERFORMANCE (UNAUDITED)

The SPDR S&P Global Dividend ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return of an index that tracks stocks of global companies that offer high dividend yields. The Fund’s benchmark is the S&P Global Dividend Aristocrats Index (the “Index”).

For the 12-month period ended September 30, 2023 (the “Reporting Period”), the total return for the Fund was 7.87%, and the Index was 7.51%. The Fund and Index returns reflect the reinvestment of dividends and other income. The Fund’s performance reflects the expenses of managing the Fund, including brokerage and advisory expenses. The Index is unmanaged and Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns. Fees, dividend tax withholding differences, futures, cash, and small security mis-weights contributed to the difference between the Fund’s performance and that of the Index.

Seven of the twelve months in the Reporting Period posted positive returns. The market environment during this time was significantly influenced by the U.S. Federal Reserve (the “Fed”). Its efforts to combat the highest U.S. inflation in nearly 40 years took center stage, as did the immediate downstream effects of these large rate increases and speculation on when and if those rate increases would have to be halted, or even reversed. But there were other themes connected to tech and the prospects of artificial intelligence that were also impactful.

This enthusiasm continued into the second quarter of 2023, assisted by falling inflation and a June pause in rate hikes. To a large degree, though, market gains were dominated by a handful of tech giants. The performance concentration in the largest tech names that drove markets to ever higher levels was definitely noted, but concerns about lack of market breadth did not seem to unsettle investors.

The Fund used futures in order to equitize cash and receivables during the Reporting Period. The Fund’s use of futures helped the performance of the Fund relative to the index.

On an individual security level, the top positive contributors to the Fund’s performance during the Reporting Period were Adecco Group AG, Mitsubishi UFJ Financial Group, Inc., and Ashmore Group. The top negative contributors to the Fund’s performance during the Reporting Period were Newell Brands, Inc., New World Development Co, Ltd., and Allied Properties Real Estate Investment Trust.

See accompanying notes to financial statements.

Table of Contents

SPDR S&P Global Dividend ETF

Performance Summary (Unaudited)

Performance as of September 30, 2023

	Cumulative Total Return			Average Annual Total Return
	Net Asset Value	Market Value	S&P Global Dividend Aristocrats Index	Net Asset Value	Market Value	S&P Global Dividend Aristocrats Index
ONE YEAR	7.87%	7.70%	7.51%	7.87%	7.70%	7.51%
FIVE YEARS	3.27%	2.88%	1.93%	0.65%	0.57%	0.38%
TEN YEARS	36.79%	36.33%	33.62%	3.18%	3.15%	2.94%

Comparison of Change in Value of a $10,000 Investment
(Based on Net Asset Value)

Line graph is based on cumulative total return.

The total expense ratio for SPDR S& P Global Dividend ETF as stated in the Fees and Expenses table of the most recent prospectus is 0.40%. Please see the financial highlights for the total expense ratio for the fiscal period ended September 30, 2023.

See accompanying notes to financial statements.

Table of Contents

SPDR S&P Global Infrastructure ETF

MANAGEMENT’S DISCUSSION OF FUND PERFORMANCE (UNAUDITED)

The SPDR S&P Global Infrastructure ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index based upon the global infrastructure industry market. The Fund’s benchmark is the S&P Global Infrastructure Index (the “Index”).

For the 12-month period ended September 30, 2023 (the “Reporting Period”), the total return for the Fund was 6.24%, and the Index was 5.90%. The Fund and Index returns reflect the reinvestment of dividends and other income. The Fund’s performance reflects the expenses of managing the Fund, including brokerage and advisory expenses. The Index is unmanaged and Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns. Management fees, cash drag, securities lending income, cumulative effects of security mis-weights and compounding (the exponential growth of outperformance or underperformance) also contributed to the difference between the Fund’s performance and that of the Index and were primary drivers of Fund performance during the Reporting Period.

It is said that the return performance of an Infrastructure Index tends to track the broader economic environment. Two Sectors within the Index, Industrials and Energy, showed positive performance while the utilities sector maintained negative performance during the Reporting Period. The Industrials Sector tends to benefit from a stronger economy which can lead to increased demand for capital goods and transportation. Much like the broad market, industrials have been sensitive to the overall inflationary environment. Additionally, the Energy Sector began the Reporting Period with concern over global inflation and energy prices with the backdrop of the Ukraine war contributing to the concern, yet the mild winter in 2022 helped ease concerns and reduced natural gas pricing. Finally, while there was a boosting effect on crude oil pricing that drove profits for large oil companies, the utilities sector of this fund did not fair as well. The defensive nature of this sector is highly susceptible to interest rate changes which raised profitability concerns for many of its constituents over the Reporting Period.

The Fund did not invest in derivatives during the Reporting Period.

On an individual security level, the top positive contributors to the Fund’s performance during the Reporting Period were Aena SME SA, Grupo Aeroportuario del Pacifico SAB, and Enel SpA. The top negative contributors to the Fund’s performance during the Reporting Period were NextEra Energy, Inc., Dominion Energy, and Eversource Energy.

See accompanying notes to financial statements.

Table of Contents

SPDR S&P Global Infrastructure ETF

Performance Summary (Unaudited)

Performance as of September 30, 2023

	Cumulative Total Return			Average Annual Total Return
	Net Asset Value	Market Value	S&P Global Infrastructure Index	Net Asset Value	Market Value	S&P Global Infrastructure Index
ONE YEAR	6.24%	6.23%	5.90%	6.24%	6.23%	5.90%
FIVE YEARS	18.02%	17.54%	16.92%	3.37%	3.29%	3.18%
TEN YEARS	54.21%	53.92%	50.88%	4.43%	4.41%	4.20%

Comparison of Change in Value of a $10,000 Investment
(Based on Net Asset Value)

Line graph is based on cumulative total return.

The total expense ratio for SPDR S& P Global Infrastructure ETF as stated in the Fees and Expenses table of the most recent prospectus is 0.40%. Please see the financial highlights for the total expense ratio for the fiscal period ended September 30, 2023.

See accompanying notes to financial statements.

Table of Contents

SPDR S&P International Dividend ETF

MANAGEMENT’S DISCUSSION OF FUND PERFORMANCE (UNAUDITED)

The SPDR S&P International Dividend ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks exchange-listed common stocks of companies domiciled in countries outside the United States that offer high dividend yields. The Fund’s benchmark is the S&P International Dividend Opportunities Index (the “Index”).

For the 12-month period ended September 30, 2023 (the “Reporting Period”), the total return for the Fund was 18.58%, and the Index was 18.94%. The Fund and Index returns reflect the reinvestment of dividends and other income. The Fund’s performance reflects the expenses of managing the Fund, including brokerage and advisory expenses. The Index is unmanaged and Index returns do not reflect fees and expenses of any kind, which would have a negative impact on returns. Fund expenses, income from securities lending, cash drag, transaction costs, compounding differences resulting from performance volatility, and slight variations between the Fund’s holdings and the Index constituents contributed to the difference between the Fund’s performance and that of the Index.

Inflation, interest rates and concerns over a recession were primary drivers of Fund performance during the Reporting Period. The Fund started off the Reporting Period with strong performance returning 12.75% in the fourth quarter of 2022 setting the baseline for performance over the rest of the Reporting Period. Inflation had started to show signs of slowing in the Eurozone and Japan. However, key central banks continued with their hawkish tone, which further dented market sentiments toward the end of the fourth quarter. During this period, 48 countries saw higher interest rates as policy rates were hiked by all major central banks putting pressure on the global economy. Monetary tightening was continuing but there was some relief in the pace of tightening. Despite this, economic growth remained resilient. Heading into 2023, global equites had the headwinds of continued global monetary policy tightening, coupled with elevated energy and food prices, and the continued geopolitical tensions. The yield curve continued to warn of a possible recession. The U.S. market faced an upheaval in the banking sector that resulted in acute liquidity stress in the financial sector in the United States and Europe. Despite this, global equities finished on a positive note for the remainder of the Reporting Period adding an additional 5.17% in the final 9 months of the Reporting Period.

The Fund did not invest in derivatives during the Reporting Period.

On an individual security level, the top positive contributors to the Fund’s performance during the Reporting Period were Wistron Corp., Enel SpA, and E.ON SE. The top negative contributors to the Fund’s performance during the Reporting Period were Telefonica Deutschland Holding AG, TAG Immobilien AG, and Canadian Utilities Limited Class A.

See accompanying notes to financial statements.

Table of Contents

SPDR S&P International Dividend ETF

Performance Summary (Unaudited)

Performance as of September 30, 2023

	Cumulative Total Return			Average Annual Total Return
	Net Asset Value	Market Value	S&P International Dividend Opportunities Index	Net Asset Value	Market Value	S&P International Dividend Opportunities Index
ONE YEAR	18.58%	18.91%	18.94%	18.58%	18.91%	18.94%
FIVE YEARS	8.11%	8.09%	8.92%	1.57%	1.57%	1.72%
TEN YEARS	12.30%	11.57%	16.23%	1.17%	1.10%	1.52%

Comparison of Change in Value of a $10,000 Investment
(Based on Net Asset Value)

Line graph is based on cumulative total return.

The total expense ratio for SPDR S& P International Dividend ETF as stated in the Fees and Expenses table of the most recent prospectus is 0.45%. Please see the financial highlights for the total expense ratio for the fiscal period ended September 30, 2023.

See accompanying notes to financial statements.

Table of Contents

SPDR EURO STOXX 50 ETF

SCHEDULE OF INVESTMENTS

September 30, 2023

Security Description	Shares	Value
COMMON STOCKS — 99.8%
AUSTRALIA — 0.9%
Flutter Entertainment PLC (a)	131,921	$ 21,635,094
BELGIUM — 1.6%
Anheuser-Busch InBev SA	668,868	37,185,693
CHINA — 1.4%
Prosus NV	1,152,735	34,075,194
FINLAND — 1.9%
Nokia Oyj	3,964,086	14,974,811
Nordea Bank Abp	2,666,662	29,396,496
		44,371,307
FRANCE — 36.0%
Air Liquide SA	391,291	66,218,413
Airbus SE	438,202	58,911,912
AXA SA	1,415,070	42,219,429
BNP Paribas SA	874,928	55,978,125
Cie de Saint-Gobain SA	383,693	23,106,646
Danone SA	479,216	26,515,154
EssilorLuxottica SA	229,817	40,186,526
Hermes International SCA	26,263	48,098,736
Kering SA	53,746	24,576,656
L'Oreal SA	181,278	75,466,125
LVMH Moet Hennessy Louis Vuitton SE	193,164	146,512,678
Pernod Ricard SA	149,482	24,981,984
Safran SA	283,345	44,590,741
TotalEnergies SE	1,866,481	123,133,086
Vinci SA	446,208	49,613,836
		850,110,047
GERMANY — 25.6%
adidas AG	124,135	21,898,523
Allianz SE	301,313	72,001,720
BASF SE	666,740	30,318,877
Bayer AG	733,916	35,316,177
Bayerische Motoren Werke AG	222,787	22,733,704
Deutsche Boerse AG	141,929	24,598,763
Deutsche Post AG	735,601	30,011,736
Deutsche Telekom AG	2,590,553	54,492,919
Infineon Technologies AG	975,117	32,371,064
Mercedes-Benz Group AG	597,504	41,682,500
Muenchener Rueckversicherungs-Gesellschaft AG	101,949	39,840,103
SAP SE	764,178	99,370,406
Siemens AG	559,545	80,367,465
Volkswagen AG Preference Shares	153,922	17,753,399
		602,757,356
ITALY — 6.5%
Enel SpA	5,803,331	35,759,692
Eni SpA	1,704,776	27,536,037

Security Description	Shares	Value
Ferrari NV	87,989	$ 26,056,392
Intesa Sanpaolo SpA	12,045,975	31,118,971
UniCredit SpA	1,343,259	32,326,050
		152,797,142
NETHERLANDS — 10.7%
Adyen NV (a)(b)	21,354	15,954,853
ASML Holding NV	301,127	178,251,269
ING Groep NV	2,703,937	35,928,057
Koninklijke Ahold Delhaize NV	725,092	21,894,552
		252,028,731
SPAIN — 6.9%
Banco Bilbao Vizcaya Argentaria SA	4,456,439	36,377,746
Banco Santander SA	12,090,539	46,319,907
Iberdrola SA	4,330,895	48,581,627
Industria de Diseno Textil SA	830,243	31,020,609
		162,299,889
UNITED STATES — 8.3%
Sanofi	856,393	92,012,537
Schneider Electric SE	427,960	71,128,057
Stellantis NV	1,707,047	32,911,590
		196,052,184
TOTAL COMMON STOCKS (Cost $2,445,022,903)		2,353,312,637


SHORT-TERM INVESTMENT — 0.0% (c)
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (d)(e) (Cost $517,645)	517,541	517,645
TOTAL INVESTMENTS — 99.8% (Cost $2,445,540,548)		2,353,830,282
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.2%		5,588,555
NET ASSETS — 100.0%		$ 2,359,418,837

(a)	Non-income producing security.
(b)	Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.7% of net assets as of September 30, 2023, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(c)	Amount is less than 0.05% of 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 September 30, 2023 are shown in the Affiliate Table below.
(e)	The rate shown is the annualized seven-day yield at September 30, 2023.

See accompanying notes to financial statements.

Table of Contents

SPDR EURO STOXX 50 ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of September 30, 2023.

Description	Level 1 – Quoted Prices	Level 2 – Other Significant Observable Inputs	Level 3 – Significant Unobservable Inputs	Total
ASSETS:
INVESTMENTS:
Common Stocks	$2,353,312,637	$—	$—	$2,353,312,637
Short-Term Investment	517,645	—	—	517,645
TOTAL INVESTMENTS	$2,353,830,282	$—	$—	$2,353,830,282

Sector Breakdown as of September 30, 2023


		% of Net Assets
	Consumer Discretionary	19.9
	Financials	19.6
	Industrials	15.1
	Information Technology	13.8
	Consumer Staples	7.9
	Health Care	7.1
	Energy	6.4
	Materials	4.1
	Utilities	3.6
	Communication Services	2.3
	Short-Term Investment	0.0(a)
	Other Assets in Excess of Liabilities	0.2
	TOTAL	100.0
(a)	Amount is 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.)

Affiliate Table

	Number of Shares Held at 9/30/22	Value at 9/30/22	Cost of Purchases	Proceeds from Shares Sold	Realized Gain (Loss)	Change in Unrealized Appreciation/ Depreciation	Number of Shares Held at 9/30/23	Value at 9/30/23	Dividend Income
State Street Institutional Liquid Reserves Fund, Premier Class	922,874	$ 923,059	$ 87,718,771	$ 88,124,008	$(49)	$(128)	517,541	$517,645	$ 53,715
State Street Navigator Securities Lending Portfolio II	11,059,238	11,059,238	651,348,629	662,407,867	—	—	—	—	188,365
Total		$11,982,297	$739,067,400	$750,531,875	$(49)	$(128)		$517,645	$242,080

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF

SCHEDULE OF INVESTMENTS

September 30, 2023

Security Description	Shares	Value
COMMON STOCKS — 98.9%
AUSTRALIA — 1.3%
ANZ Group Holdings Ltd.	19,045	$ 315,403
ASX Ltd.	869	32,036
Cochlear Ltd.	279	45,975
Commonwealth Bank of Australia	5,589	360,606
Dexus REIT	60,407	284,603
Goodman Group REIT (a)	25,056	346,871
GPT Group REIT	25,578	64,381
Macquarie Group Ltd.	716	77,509
Medibank Pvt Ltd.	16,664	36,997
Mineral Resources Ltd.	2,370	103,447
National Australia Bank Ltd.	6,306	118,312
Pilbara Minerals Ltd. (a)	6,977	19,363
QBE Insurance Group Ltd.	9,790	99,263
REA Group Ltd. (a)	361	35,955
Scentre Group REIT	39,580	62,840
Stockland REIT	8,523	21,563
Suncorp Group Ltd.	17,403	156,910
Transurban Group Stapled Security	60,829	498,197
Treasury Wine Estates Ltd.	3,848	30,621
Vicinity Ltd. REIT	25,307	27,685
Wesfarmers Ltd.	5,044	172,080
		2,910,617
AUSTRIA — 0.1%
Verbund AG	3,897	317,904
BELGIUM — 0.2%
Anheuser-Busch InBev SA	1,319	73,330
Elia Group SA	2,235	219,238
Groupe Bruxelles Lambert NV	361	26,969
KBC Group NV	1,335	83,590
UCB SA	743	60,997
		464,124
BRAZIL — 1.1%
B3 SA - Brasil Bolsa Balcao	37,111	91,124
Banco BTG Pactual SA	11,056	68,631
BB Seguridade Participacoes SA	23,151	144,358
CCR SA	76,822	197,841
Hapvida Participacoes e Investimentos SA (b)(c)	32,094	30,137
Hypera SA	7,647	56,743
Localiza Rent a Car SA	10,570	123,667
Lojas Renner SA	30,241	80,962
Magazine Luiza SA (c)	36,837	15,603
MercadoLibre, Inc. (c)	226	286,541
Natura & Co. Holding SA (c)	9,376	27,275
Raia Drogasil SA	10,670	58,880
TIM SA	17,356	51,632
WEG SA	32,246	233,669

Security Description	Shares	Value
Wheaton Precious Metals Corp. (a)	24,043	$ 980,215
		2,447,278
CANADA — 3.8%
Agnico Eagle Mines Ltd.	4,611	210,496
Bank of Montreal	1,520	128,818
BCE, Inc. (a)	4,437	170,162
Canadian Imperial Bank of Commerce	13,536	524,920
CGI, Inc. (c)	3,501	346,682
Dollarama, Inc.	6,315	437,099
Element Fleet Management Corp. (a)	20,842	300,452
GFL Environmental, Inc. (a)	810	25,840
Great-West Lifeco, Inc. (a)	13,168	378,483
Hydro One Ltd. (a)(b)	25,268	646,278
iA Financial Corp., Inc.	1,996	125,783
IGM Financial, Inc. (a)	3,287	83,755
Intact Financial Corp.	1,664	243,717
Ivanhoe Mines Ltd. Class A (a)(c)	2,903	24,993
Loblaw Cos. Ltd. (a)	12,342	1,053,452
Manulife Financial Corp. (a)	3,654	67,080
National Bank of Canada (a)	1,541	102,843
Northland Power, Inc. (a)	19,083	312,216
Onex Corp. (a)	4,146	244,804
Pan American Silver Corp. (a)	3,026	44,002
Power Corp. of Canada (a)	13,384	342,322
Quebecor, Inc. Class B (a)	3,279	70,600
Restaurant Brands International, Inc. (a)	1,565	104,700
RioCan Real Estate Investment Trust	11,194	149,612
Rogers Communications, Inc. Class B (a)	3,807	146,845
Royal Bank of Canada (a)	12,286	1,078,660
Shopify, Inc. Class A (c)	3,161	173,341
Sun Life Financial, Inc. (a)	7,140	349,976
Thomson Reuters Corp. (a)	2,349	288,691
TMX Group Ltd. (a)	4,805	103,741
Toromont Industries Ltd.	681	55,719
Toronto-Dominion Bank (a)	10,001	605,312
		8,941,394
CHILE — 0.3%
Antofagasta PLC	12,458	217,288
Banco de Chile	555,871	56,306
Banco de Credito e Inversiones SA	1,307	33,293
Banco Santander Chile	2,031,033	93,554
Falabella SA	36,642	81,450
Lundin Mining Corp. (a)	15,556	116,555
Sociedad Quimica y Minera de Chile SA Class B, Preference Shares	865	51,175
		649,621

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
CHINA — 3.7%
Advanced Micro-Fabrication Equipment, Inc. China Class A	1,149	$ 23,742
Alibaba Group Holding Ltd. (c)	64,824	708,509
Alibaba Health Information Technology Ltd. (a)(c)	40,000	24,924
Anhui Gujing Distillery Co. Ltd. Class A	600	22,383
Anhui Gujing Distillery Co. Ltd. Class B	4,400	73,597
Anhui Yingjia Distillery Co. Ltd. Class A	3,100	31,295
Baidu, Inc. Class A (c)	9,622	163,892
Bank of Chengdu Co. Ltd. Class A	12,300	23,230
Beijing-Shanghai High Speed Railway Co. Ltd. Class A	151,200	106,462
Bosideng International Holdings Ltd.	52,000	22,375
Budweiser Brewing Co. APAC Ltd. (b)	7,700	15,200
BYD Co. Ltd. Class A	2,600	84,469
BYD Co. Ltd. Class H	8,500	262,645
C&D International Investment Group Ltd.	12,911	31,421
China Conch Venture Holdings Ltd.	110,000	93,822
China Feihe Ltd. (b)	72,000	42,473
China International Capital Corp. Ltd. Class H (b)	17,600	32,270
China Life Insurance Co. Ltd. Class H	46,000	71,656
China Longyuan Power Group Corp. Ltd. Class H	159,000	138,458
China Medical System Holdings Ltd.	24,000	36,344
China Overseas Land & Investment Ltd.	79,500	164,850
China Resources Land Ltd.	12,000	47,805
China Resources Microelectronics Ltd. Class A	6,097	45,265
China Ruyi Holdings Ltd. (a)(c)	116,000	30,067
China Three Gorges Renewables Group Co. Ltd. Class A	130,400	85,552
China Vanke Co. Ltd. Class H	23,096	25,479
China Yangtze Power Co. Ltd. Class A	32,096	97,974
Chow Tai Fook Jewellery Group Ltd.	12,000	18,080
Contemporary Amperex Technology Co. Ltd. Class A	7,360	205,099
CSPC Pharmaceutical Group Ltd.	56,720	41,570
East Buy Holding Ltd. (a)(b)(c)	8,000	37,743
ESR Group Ltd. (b)	150,800	211,802
Eve Energy Co. Ltd. Class A	9,400	58,213

Security Description	Shares	Value
Ganfeng Lithium Group Co. Ltd. Class H (a)(b)	5,000	$ 20,525
Goldwind Science & Technology Co. Ltd. Class A	15,700	19,890
Gotion High-tech Co. Ltd. Class A (c)	7,600	24,201
Greentown China Holdings Ltd.	21,000	21,799
Guangzhou Shiyuan Electronic Technology Co. Ltd. Class A	3,100	21,568
Hainan Airport Infrastructure Co. Ltd. Class A (c)	52,800	28,771
Hansoh Pharmaceutical Group Co. Ltd. (b)	18,000	24,500
Hengtong Optic-electric Co. Ltd. Class A	10,900	21,124
Huadong Medicine Co. Ltd. Class A	5,700	33,046
JA Solar Technology Co. Ltd. Class A	15,116	53,072
JD Health International, Inc. (b)(c)	17,200	89,164
JD Logistics, Inc. (a)(b)(c)	14,500	18,422
JD.com, Inc. Class A	3,296	48,439
Jiangsu King's Luck Brewery JSC Ltd. Class A	5,800	46,706
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd. Class A	1,300	23,089
KE Holdings, Inc. ADR	1,817	28,200
Kingdee International Software Group Co. Ltd. (c)	95,000	116,933
Kweichow Moutai Co. Ltd. Class A	702	173,295
Li Auto, Inc. Class A (c)	4,668	82,431
LONGi Green Energy Technology Co. Ltd. Class A	34,632	129,672
Lufax Holding Ltd. ADR	27,092	28,717
Luzhou Laojiao Co. Ltd. Class A	2,300	68,393
Meituan Class B (b)(c)	19,948	291,890
Montage Technology Co. Ltd. Class A	3,102	21,160
NARI Technology Co. Ltd. Class A	36,528	111,252
National Silicon Industry Group Co. Ltd. Class A (c)	12,616	34,234
NetEase, Inc.	6,600	134,413
Ningbo Deye Technology Co. Ltd. Class A	2,020	21,470
NIO, Inc. ADR (c)	7,210	65,178
Nongfu Spring Co. Ltd. Class H (b)	11,000	63,203
NXP Semiconductors NV	130	25,990
PDD Holdings, Inc. ADR (c)	1,450	142,201
Ping An Healthcare & Technology Co. Ltd. (a)(b)(c)	10,100	23,574
Prosus NV	9,960	294,421
Qifu Technology, Inc. ADR	2,892	44,421

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Sanan Optoelectronics Co. Ltd. Class A	23,000	$ 48,679
Sangfor Technologies, Inc. Class A (c)	1,900	24,334
Shanghai Bairun Investment Holding Group Co. Ltd. Class A	4,800	18,994
Shanghai Baosight Software Co. Ltd. Class A	7,944	49,262
Shanghai Baosight Software Co. Ltd. Class B	46,440	97,756
Shanghai Putailai New Energy Technology Co. Ltd. Class A	9,035	36,322
Shanghai Rural Commercial Bank Co. Ltd. Class A	44,500	36,891
Shanxi Xinghuacun Fen Wine Factory Co. Ltd. Class A	1,700	55,883
Shenzhen Inovance Technology Co. Ltd. Class A	4,900	44,718
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. Class A	600	22,220
Sichuan Chuantou Energy Co. Ltd. Class A	20,300	41,237
Sungrow Power Supply Co. Ltd. Class A	6,700	82,314
TCL Zhonghuan Renewable Energy Technology Co. Ltd. Class A	18,550	59,527
Tencent Holdings Ltd.	23,884	933,787
Tianqi Lithium Corp. Class A	1,800	13,571
Tongwei Co. Ltd. Class A	20,300	89,885
Topsports International Holdings Ltd. (b)	100,000	75,972
TravelSky Technology Ltd. Class H	35,000	60,688
Trip.com Group Ltd. (c)	2,858	101,886
Unisplendour Corp. Ltd. Class A (c)	12,900	41,733
Weibo Corp. ADR	1,543	19,349
Western Superconducting Technologies Co. Ltd. Class A	3,000	18,842
Wuliangye Yibin Co. Ltd. Class A	2,700	57,848
WuXi AppTec Co. Ltd. Class A	2,500	29,571
Wuxi Biologics Cayman, Inc. (b)(c)	10,000	58,288
Xinyi Solar Holdings Ltd.	372,000	278,340
XPeng, Inc. Class A (c)	9,010	80,473
Yealink Network Technology Corp. Ltd. Class A	5,600	27,394
Yuexiu Property Co. Ltd.	87,700	101,117
Yunnan Baiyao Group Co. Ltd. Class A	4,980	36,432
Zai Lab Ltd. ADR (a)(c)	715	17,382
Zangge Mining Co. Ltd. Class A	7,000	21,925

Security Description	Shares	Value
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. Class A	900	$ 33,996
Zhejiang Expressway Co. Ltd. Class H (a)	92,000	68,602
Zhuzhou CRRC Times Electric Co. Ltd. Class H	39,500	136,679
ZTE Corp. Class H	50,200	151,590
		8,547,517
CZECH REPUBLIC — 0.0% (d)
Komercni Banka AS	1,421	41,511
DENMARK — 1.1%
Chr Hansen Holding AS	441	27,074
Coloplast AS Class B	242	25,687
Genmab AS (c)	109	38,814
Novo Nordisk AS Class B	15,374	1,405,514
Novozymes AS Class B	11,288	456,283
ROCKWOOL AS Class B	657	159,745
Tryg AS	1,756	32,249
Vestas Wind Systems AS (c)	24,096	518,513
		2,663,879
FINLAND — 0.5%
Kesko Oyj Class B	21,034	377,918
Nokia Oyj (e)	3,650	13,788
Nokia Oyj (e)	10,682	40,483
Orion Oyj Class B	1,812	71,405
Sampo Oyj Class A	8,079	350,528
Wartsila Oyj Abp	22,886	260,599
		1,114,721
FRANCE — 2.3%
Alstom SA	12,547	300,222
Capgemini SE	303	53,189
Covivio SA REIT	3,603	160,598
Dassault Systemes SE	13,640	509,707
Edenred SE	1,726	108,328
Eiffage SA	1,665	158,724
EssilorLuxottica SA	1,195	208,961
Gecina SA REIT	3,522	360,773
Getlink SE	27,390	438,177
Hermes International SCA	76	139,188
Ipsen SA	272	35,767
Kering SA	261	119,349
Klepierre SA REIT	5,626	138,370
Legrand SA	2,634	243,458
L'Oreal SA	1,154	480,411
LVMH Moet Hennessy Louis Vuitton SE	1,004	761,523
Pernod Ricard SA	1,674	279,765
Remy Cointreau SA	582	71,263
Sartorius Stedim Biotech	88	21,056
Thales SA	519	73,137
Vinci SA	5,421	602,761
Vivendi SE	2,919	25,639

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Worldline SA (b)(c)	671	$ 18,933
		5,309,299
GERMANY — 1.1%
adidas AG	492	86,793
Allianz SE	1,554	371,344
Beiersdorf AG	379	49,015
Carl Zeiss Meditec AG	337	29,550
Deutsche Boerse AG	474	82,152
Deutsche Post AG	812	33,129
Infineon Technologies AG	1,933	64,170
Knorr-Bremse AG	3,555	226,509
LEG Immobilien SE (c)	781	54,029
Merck KGaA	530	88,744
Muenchener Rueckversicherungs-Gesellschaft AG	409	159,831
SAP SE	6,028	783,855
Sartorius AG Preference Shares	156	53,150
Siemens AG	999	143,486
Siemens Healthineers AG (b)	2,503	127,202
Vonovia SE	8,000	193,201
Zalando SE (b)(c)	1,003	22,438
		2,568,598
GREECE — 0.0% (d)
JUMBO SA	1,947	53,596
HONG KONG — 0.4%
AIA Group Ltd.	48,200	392,956
China Common Rich Renewable Energy Investments Ltd. (a)(c)(f)	24,000	—
Henderson Land Development Co. Ltd.	90,000	237,300
Hong Kong Exchanges & Clearing Ltd.	5,533	206,714
Prudential PLC	3,954	42,894
Sino Biopharmaceutical Ltd.	52,750	19,061
		898,925
INDIA — 1.4%
ABB India Ltd.	1,925	95,003
Adani Green Energy Ltd. (c)	24,085	286,310
Asian Paints Ltd.	749	28,511
AU Small Finance Bank Ltd. (b)	6,016	51,690
Avenue Supermarts Ltd. (b)(c)	689	30,497
Bajaj Finance Ltd.	935	87,945
Bajaj Finserv Ltd.	3,684	68,331
Bajaj Holdings & Investment Ltd.	1,105	94,590
Bharat Electronics Ltd.	113,469	188,976
Bharti Airtel Ltd.	3,602	40,184
Cholamandalam Investment & Finance Co. Ltd.	2,485	36,435
Colgate-Palmolive India Ltd.	1,382	33,377
Dabur India Ltd.	9,738	64,684

Security Description	Shares	Value
Divi's Laboratories Ltd.	583	$ 26,434
DLF Ltd.	17,635	112,744
Godrej Properties Ltd. (c)	4,717	88,278
Havells India Ltd.	10,902	182,347
HCL Technologies Ltd.	4,099	60,951
HDFC Life Insurance Co. Ltd. (b)	3,225	24,754
Hindustan Unilever Ltd.	2,962	87,946
Infosys Ltd. ADR	15,941	272,750
Kotak Mahindra Bank Ltd.	3,011	62,935
PI Industries Ltd.	2,049	85,201
SBI Life Insurance Co. Ltd. (b)	1,949	30,638
Sun Pharmaceutical Industries Ltd.	6,359	88,725
Tata Consultancy Services Ltd.	6,350	269,825
Tata Consumer Products Ltd.	3,764	39,747
Tata Elxsi Ltd.	905	78,763
Tech Mahindra Ltd.	5,764	84,876
Titan Co. Ltd.	1,216	46,109
Torrent Pharmaceuticals Ltd.	3,335	77,474
Trent Ltd.	8,857	221,864
Wipro Ltd. ADR (a)	32,468	157,145
Yes Bank Ltd. (c)	525,510	109,163
Zomato Ltd. (c)	29,934	36,588
		3,351,790
INDONESIA — 0.1%
Bank Central Asia Tbk PT	91,300	52,133
Merdeka Copper Gold Tbk PT (c)	790,049	147,224
		199,357
IRELAND — 0.2%
Kingspan Group PLC	6,854	514,933
ISRAEL — 0.1%
Azrieli Group Ltd.	1,118	57,383
Bank Hapoalim BM	5,129	45,658
Nice Ltd. (c)	119	20,165
		123,206
ITALY — 0.5%
Amplifon SpA	2,099	62,492
Davide Campari-Milano NV	4,291	50,724
DiaSorin SpA	209	19,123
FinecoBank Banca Fineco SpA	3,130	38,159
Mediobanca Banca di Credito Finanziario SpA	12,927	171,491
Moncler SpA	495	28,866
Recordati Industria Chimica e Farmaceutica SpA	1,326	62,769
Terna - Rete Elettrica Nazionale	107,629	812,251
		1,245,875
JAPAN — 4.7%
Advantest Corp. (a)	1,600	44,829
Asahi Intecc Co. Ltd.	1,400	25,218
Astellas Pharma, Inc.	22,000	305,766

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Azbil Corp. (a)	8,800	$ 269,971
Chugai Pharmaceutical Co. Ltd.	11,800	365,644
Daiichi Sankyo Co. Ltd.	9,600	264,149
Daito Trust Construction Co. Ltd.	400	42,218
East Japan Railway Co.	12,600	722,352
Eisai Co. Ltd.	1,000	55,647
FANUC Corp.	30,300	790,470
Fast Retailing Co. Ltd.	1,300	283,914
FUJIFILM Holdings Corp.	5,400	313,307
Fujitsu Ltd.	400	47,177
Hamamatsu Photonics KK	2,500	105,529
Hikari Tsushin, Inc. (a)	500	76,311
Hoya Corp.	1,400	143,776
Ibiden Co. Ltd.	1,300	69,380
Japan Exchange Group, Inc.	8,000	148,715
Keio Corp. (a)	2,000	68,916
Keisei Electric Railway Co. Ltd.	9,900	343,656
Keyence Corp.	800	297,537
Kikkoman Corp.	400	21,026
Koito Manufacturing Co. Ltd.	3,800	57,462
Kurita Water Industries Ltd. (a)	8,000	279,524
Kyocera Corp.	10,300	523,680
Kyowa Kirin Co. Ltd.	1,100	19,195
Lasertec Corp.	200	31,188
M3, Inc.	1,200	21,841
Mitsui Fudosan Co. Ltd.	5,300	116,992
MonotaRO Co. Ltd.	1,600	17,161
Murata Manufacturing Co. Ltd.	4,500	82,446
NEC Corp.	3,200	177,150
Nexon Co. Ltd.	1,300	23,291
NIDEC Corp. (a)	1,700	78,959
Nintendo Co. Ltd.	1,300	54,274
NTT Data Group Corp.	1,500	20,149
Obic Co. Ltd.	200	30,404
Olympus Corp.	5,200	67,655
Omron Corp. (a)	11,700	522,727
Ono Pharmaceutical Co. Ltd.	15,000	288,289
Oriental Land Co. Ltd.	2,300	75,662
ORIX Corp.	7,000	131,017
Pan Pacific International Holdings Corp.	1,500	31,543
Rakuten Group, Inc. (a)	6,700	27,527
Recruit Holdings Co. Ltd.	4,100	126,634
Renesas Electronics Corp. (c)	4,000	61,263
SBI Holdings, Inc.	6,900	145,560
Seiko Epson Corp. (a)	2,700	42,511
Shionogi & Co. Ltd.	3,700	165,778
Shiseido Co. Ltd.	2,000	70,363
Shizuoka Financial Group, Inc.	19,700	160,927
SMC Corp.	100	44,885
SoftBank Group Corp.	3,200	135,849
Sony Group Corp.	5,100	418,321
Sumitomo Metal Mining Co. Ltd.	17,100	504,090

Security Description	Shares	Value
Sysmex Corp.	800	$ 38,240
TDK Corp.	2,000	74,277
Terumo Corp.	5,800	154,032
TIS, Inc.	7,000	154,471
Tokio Marine Holdings, Inc.	8,400	195,048
Tokyo Electron Ltd.	700	95,882
Yamaha Corp.	600	16,429
Yaskawa Electric Corp.	12,700	459,149
Yokogawa Electric Corp.	17,400	336,806
Z Holdings Corp.	8,800	24,503
		10,908,662
KUWAIT — 0.2%
Agility Public Warehousing Co. KSC (c)	60,683	109,565
Boubyan Bank KSCP	32,038	62,614
Gulf Bank KSCP	37,920	32,270
National Bank of Kuwait SAKP	116,418	341,287
		545,736
LUXEMBOURG — 0.0% (d)
Eurofins Scientific SE	488	27,642
Reinet Investments SCA	2,911	64,237
		91,879
MEXICO — 0.4%
Banco del Bajio SA (b)	6,942	21,895
Fibra Uno Administracion SA de CV REIT	92,652	154,878
Grupo Aeroportuario del Pacifico SAB de CV Class B	4,936	81,357
Grupo Aeroportuario del Sureste SAB de CV Class B	3,419	83,920
Grupo Mexico SAB de CV Class B	36,928	175,285
Grupo Televisa SAB Series CPO	20,771	12,657
Promotora y Operadora de Infraestructura SAB de CV	14,447	129,494
Southern Copper Corp.	2,718	204,638
		864,124
NETHERLANDS — 0.6%
Adyen NV (b)(c)	60	44,830
Akzo Nobel NV	298	21,606
ASML Holding NV	1,390	822,806
Ferrovial SE	12,330	378,186
NN Group NV (a)	4,787	154,277
Universal Music Group NV (a)	2,948	77,187
		1,498,892
NEW ZEALAND — 0.2%
Mercury NZ Ltd.	54,051	198,107
Meridian Energy Ltd.	51,394	158,724
Xero Ltd. (c)	760	55,147
		411,978
NORWAY — 0.3%
DNB Bank ASA	16,073	325,664

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Gjensidige Forsikring ASA	15,205	$ 225,056
Mowi ASA	3,115	55,489
		606,209
POLAND — 0.3%
Bank Polska Kasa Opieki SA	4,147	95,907
LPP SA	12	35,738
Powszechna Kasa Oszczednosci Bank Polski SA (c)	16,338	129,954
Powszechny Zaklad Ubezpieczen SA	17,297	163,933
Santander Bank Polska SA (c)	1,979	163,215
		588,747
PORTUGAL — 0.0% (d)
EDP - Energias de Portugal SA	16,073	66,980
QATAR — 0.2%
Masraf Al Rayan QSC	183,596	112,427
Mesaieed Petrochemical Holding Co.	195,742	99,753
Qatar International Islamic Bank QSC	27,270	71,921
Qatar Islamic Bank SAQ	18,141	92,499
		376,600
ROMANIA — 0.0% (d)
NEPI Rockcastle NV	18,471	102,064
RUSSIA — 0.0%
Alrosa PJSC (f)	15,622	—
Magnit PJSC GDR (c)(f)	2	—
Mobile TeleSystems PJSC ADR (c)(f)	3,579	—
Moscow Exchange MICEX-Rates PJSC (f)	29,855	—
Ozon Holdings PLC ADR (c)(f)	328	—
Polyus PJSC GDR (c)(f)	234	—
Sberbank of Russia PJSC (f)	32,012	—
TCS Group Holding PLC GDR (c)(f)	275	—
United Co. RUSAL International PJSC (f)	46,750	—
VK Co. Ltd. GDR (c)(f)	1,325	—
VTB Bank PJSC (c)(f)	12,978,000	—
Yandex NV Class A (c)(f)	733	—
		—
SAUDI ARABIA — 0.9%
Al Rajhi Bank	20,470	370,599
Alinma Bank	19,949	177,658
Arab National Bank	12,232	78,275
Bank AlBilad	17,817	200,952
Bank Al-Jazira (c)	29,048	130,120
Banque Saudi Fransi	10,605	103,210
Dar Al Arkan Real Estate Development Co. (c)	40,172	168,809
Dr Sulaiman Al Habib Medical Services Group Co.	546	34,299

Security Description	Shares	Value
Etihad Etisalat Co.	7,412	$ 88,044
Jarir Marketing Co.	14,350	55,480
Nahdi Medical Co.	1,867	71,784
Riyad Bank	15,332	113,443
SABIC Agri-Nutrients Co.	911	32,306
Saudi Awwal Bank	17,206	158,276
Saudi National Bank	20,136	176,102
Saudi Research & Media Group (c)	633	27,747
Saudi Tadawul Group Holding Co.	1,614	83,057
Saudi Telecom Co.	2,772	27,791
		2,097,952
SINGAPORE — 0.4%
CapitaLand Ascendas REIT	145,800	293,758
CapitaLand Integrated Commercial Trust REIT	241,200	326,925
City Developments Ltd.	31,032	150,283
Genting Singapore Ltd.	115,300	71,381
Singapore Exchange Ltd.	6,500	46,432
STMicroelectronics NV	709	30,766
UOL Group Ltd.	11,192	52,643
		972,188
SOUTH AFRICA — 0.2%
Capitec Bank Holdings Ltd. (a)	607	55,300
Discovery Ltd. (c)	9,288	67,621
Gold Fields Ltd. (a)	7,512	81,865
Naspers Ltd. Class N	1,171	188,059
Old Mutual Ltd. (e)	51,875	33,208
Old Mutual Ltd. (a)(e)	44,289	27,947
Woolworths Holdings Ltd.	15,275	54,997
		508,997
SOUTH KOREA — 0.8%
Amorepacific Corp.	246	22,241
BGF retail Co. Ltd.	592	61,859
Celltrion Healthcare Co. Ltd.	959	44,773
CosmoAM&T Co. Ltd. (c)	178	19,707
Coway Co. Ltd.	626	19,160
Delivery Hero SE (b)(c)	528	15,189
Ecopro BM Co. Ltd.	137	25,686
HLB, Inc. (c)	971	21,587
Kakao Corp.	752	24,493
L&F Co. Ltd.	390	50,116
LG Energy Solution Ltd. (c)	615	217,169
LG H&H Co. Ltd.	60	19,853
NAVER Corp.	442	66,002
NH Investment & Securities Co. Ltd. Class C	11,488	87,007
Samsung Electronics Co. Ltd.	5,166	261,860
Samsung SDI Co. Ltd.	1,419	538,408
SK Biopharmaceuticals Co. Ltd. (c)	434	27,724
SK Hynix, Inc.	1,412	120,021
SK Square Co. Ltd. (c)	2,654	83,491

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Yuhan Corp.	741	$ 41,624
		1,767,970
SPAIN — 1.1%
Acciona SA	1,874	239,481
ACS Actividades de Construccion y Servicios SA	11,231	405,120
Aena SME SA (b)	843	127,274
Amadeus IT Group SA	2,017	122,322
Corp. ACCIONA Energias Renovables SA (a)	5,007	129,348
EDP Renovaveis SA	13,963	229,363
Iberdrola SA	42,121	472,491
Industria de Diseno Textil SA	10,222	381,928
Redeia Corp. SA	31,214	492,247
		2,599,574
SWEDEN — 0.7%
Atlas Copco AB Class A	7,858	106,505
Boliden AB	7,893	228,453
Epiroc AB Class A	10,066	192,718
Epiroc AB Class B	4,169	67,231
Fastighets AB Balder Class B (a)(c)	6,276	28,479
H & M Hennes & Mauritz AB Class B	5,744	82,193
Hexagon AB Class B	6,300	54,150
Industrivarden AB Class C (a)	1,355	35,995
Nibe Industrier AB Class B	23,466	155,084
Skandinaviska Enskilda Banken AB Class A	11,602	139,523
Skanska AB Class B	21,270	352,405
Svenska Cellulosa AB SCA Class B	1,672	23,077
Svenska Handelsbanken AB Class A	3,517	31,582
Tele2 AB Class B	10,032	77,270
Telefonaktiebolaget LM Ericsson Class B (a)	20,415	100,213
Telia Co. AB	17,575	36,511
		1,711,389
SWITZERLAND — 3.0%
ABB Ltd.	47,766	1,712,642
Alcon, Inc.	2,043	158,428
Baloise Holding AG	3,521	511,523
Banque Cantonale Vaudoise	309	32,444
BKW AG	1,603	282,996
Chocoladefabriken Lindt & Spruengli AG	2	219,501
Cie Financiere Richemont SA Class A	3,256	398,636
Geberit AG	571	286,499
Givaudan SA	57	186,552
Julius Baer Group Ltd.	2,158	138,850
Kuehne & Nagel International AG	158	45,079
Novartis AG	11,898	1,220,885

Security Description	Shares	Value
Partners Group Holding AG	136	$ 153,795
Sonova Holding AG	271	64,491
Straumann Holding AG	673	86,222
Swiss Life Holding AG	120	74,980
Swiss Prime Site AG	5,898	541,252
Swisscom AG	988	587,745
Zurich Insurance Group AG	668	306,763
		7,009,283
TAIWAN — 1.1%
Accton Technology Corp.	13,000	198,541
Advantech Co. Ltd.	5,499	58,771
Cathay Financial Holding Co. Ltd.	91,712	126,571
Delta Electronics, Inc.	36,000	361,890
E Ink Holdings, Inc.	4,000	22,242
Largan Precision Co. Ltd.	1,000	66,139
MediaTek, Inc.	5,000	113,846
Novatek Microelectronics Corp.	2,000	26,208
Taiwan High Speed Rail Corp.	149,000	138,243
Taiwan Semiconductor Manufacturing Co. Ltd.	85,000	1,377,147
Voltronic Power Technology Corp.	1,000	49,101
		2,538,699
THAILAND — 0.4%
Asset World Corp. PCL	223,400	23,928
Asset World Corp. PCL NVDR	229,400	24,570
Bangkok Expressway & Metro PCL	114,600	26,122
Bangkok Expressway & Metro PCL NVDR	465,400	106,085
BTS Group Holdings PCL	100,200	20,639
BTS Group Holdings PCL NVDR	494,484	101,850
Delta Electronics Thailand PCL	20,700	47,042
Delta Electronics Thailand PCL NVDR	38,500	87,494
Energy Absolute PCL NVDR	127,600	178,719
Krungthai Card PCL NVDR	15,685	18,953
Land & Houses PCL NVDR	311,000	66,620
SCB X PCL	3,600	10,134
SCB X PCL NVDR	47,500	133,711
		845,867
TURKEY — 0.1%
Aselsan Elektronik Sanayi Ve Ticaret AS	103,844	154,544
Hektas Ticaret TAS (c)	18,589	18,240
		172,784
UNITED ARAB EMIRATES — 0.1%
Emaar Properties PJSC	20,329	44,498
Multiply Group PJSC (c)	68,988	75,129
		119,627
UNITED KINGDOM — 2.1%
3i Group PLC	49,868	1,261,760

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
abrdn PLC	17,032	$ 32,378
Admiral Group PLC	870	25,241
Ashtead Group PLC	4,034	246,283
AstraZeneca PLC	6,437	872,249
AstraZeneca PLC ADR	1,327	89,865
Aviva PLC	34,218	162,799
Barclays PLC	36,592	70,986
Barratt Developments PLC	17,156	92,365
Berkeley Group Holdings PLC	2,186	109,580
Bunzl PLC	3,710	132,496
Coca-Cola Europacific Partners PLC	1,126	70,353
Compass Group PLC	2,928	71,476
Diageo PLC	10,713	396,718
Halma PLC	7,004	165,717
Hargreaves Lansdown PLC	2,174	20,517
HSBC Holdings PLC	30,287	238,399
Informa PLC	18,681	171,099
Kingfisher PLC	7,161	19,517
London Stock Exchange Group PLC	1,045	105,023
Next PLC	1,060	94,394
Ocado Group PLC (c)	4,729	34,655
Pearson PLC	3,322	35,211
Persimmon PLC	1,402	18,438
RELX PLC (e)	3,647	123,525
RELX PLC (e)	1,218	41,330
Schroders PLC	3,965	19,706
Segro PLC REIT	16,423	144,204
Smith & Nephew PLC	4,806	60,009
Taylor Wimpey PLC	17,654	25,275
WPP PLC	2,435	21,785
		4,973,353
UNITED STATES — 62.9%
3M Co.	579	54,206
Abbott Laboratories	5,092	493,160
AbbVie, Inc.	6,142	915,527
Accenture PLC Class A	3,264	1,002,407
Activision Blizzard, Inc.	1,885	176,493
Adobe, Inc. (c)	2,108	1,074,869
Advanced Micro Devices, Inc. (c)	4,884	502,173
AECOM	10,076	836,711
Aflac, Inc.	7,559	580,000
Agilent Technologies, Inc.	1,324	148,050
Airbnb, Inc. Class A (c)	985	135,152
Albemarle Corp.	323	54,923
Align Technology, Inc. (c)	345	105,335
Allegion PLC	1,926	200,689
Allstate Corp.	2,155	240,089
Ally Financial, Inc.	1,212	32,336
Alnylam Pharmaceuticals, Inc. (c)	422	74,736
Alphabet, Inc. Class A (c)	17,965	2,350,900
Alphabet, Inc. Class C (c)	28,414	3,746,386
Amazon.com, Inc. (c)	34,611	4,399,750

Security Description	Shares	Value
American Express Co.	3,767	$ 561,999
American Financial Group, Inc.	1,587	177,220
American International Group, Inc.	5,692	344,935
American Tower Corp. REIT	1,613	265,258
Ameriprise Financial, Inc.	851	280,558
AMETEK, Inc.	2,528	373,537
Amgen, Inc.	2,212	594,497
Amphenol Corp. Class A	2,468	207,287
Analog Devices, Inc.	7,599	1,330,509
Annaly Capital Management, Inc. REIT	8,063	151,665
ANSYS, Inc. (c)	140	41,657
Aon PLC Class A	838	271,696
Apollo Global Management, Inc.	3,235	290,374
Apple, Inc.	64,692	11,075,917
Applied Materials, Inc.	2,071	286,730
Arch Capital Group Ltd. (c)	3,663	291,978
Arthur J Gallagher & Co.	745	169,808
Assurant, Inc.	1,185	170,142
Autodesk, Inc. (c)	912	188,702
Automatic Data Processing, Inc.	2,046	492,227
AutoZone, Inc. (c)	94	238,759
AvalonBay Communities, Inc. REIT	1,583	271,864
Avantor, Inc. (c)	4,082	86,049
Axon Enterprise, Inc. (c)	296	58,901
Bank of America Corp.	34,175	935,711
Bank of New York Mellon Corp.	4,953	211,245
Bath & Body Works, Inc.	625	21,125
Baxter International, Inc.	2,120	80,009
Becton Dickinson & Co.	1,453	375,644
Berkshire Hathaway, Inc. Class B (c)	2,331	816,549
Best Buy Co., Inc.	646	44,878
Biogen, Inc. (c)	605	155,491
BioMarin Pharmaceutical, Inc. (c)	764	67,599
Bio-Rad Laboratories, Inc. Class A (c)	107	38,354
Bio-Techne Corp.	456	31,040
BlackRock, Inc.	792	512,020
Blackstone, Inc.	3,201	342,955
Block, Inc. CDI (c)	366	16,320
Block, Inc. (c)	942	41,693
Booking Holdings, Inc. (c)	140	431,753
Booz Allen Hamilton Holding Corp.	518	56,602
Boston Properties, Inc. REIT	2,345	139,481
Boston Scientific Corp. (c)	10,512	555,034
Bristol-Myers Squibb Co.	12,887	747,961
Broadcom, Inc.	1,344	1,116,300
Broadridge Financial Solutions, Inc.	1,119	200,357
Brown & Brown, Inc.	1,499	104,690

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Brown-Forman Corp. Class B	3,771	$ 217,549
Burlington Stores, Inc. (c)	368	49,790
Caesars Entertainment, Inc. (c)	531	24,612
Capital One Financial Corp.	2,230	216,422
Carlyle Group, Inc.	929	28,019
CarMax, Inc. (c)	1,020	72,145
Carrier Global Corp.	1,232	68,006
Catalent, Inc. (c)	1,134	51,631
Cboe Global Markets, Inc.	485	75,762
CBRE Group, Inc. Class A (c)	4,188	309,326
CDW Corp.	2,236	451,135
Charles Schwab Corp.	6,934	380,677
Charter Communications, Inc. Class A (c)	582	255,975
Chipotle Mexican Grill, Inc. (c)	55	100,751
Chubb Ltd.	2,482	516,703
Church & Dwight Co., Inc.	1,778	162,918
Cincinnati Financial Corp.	1,336	136,659
Cintas Corp.	134	64,455
Cisco Systems, Inc.	21,081	1,133,315
Citizens Financial Group, Inc.	918	24,602
Clorox Co.	168	22,018
CME Group, Inc.	1,660	332,365
Cognex Corp.	702	29,793
Cognizant Technology Solutions Corp. Class A	3,042	206,065
Comcast Corp. Class A	17,707	785,128
Constellation Brands, Inc. Class A	446	112,093
Constellation Energy Corp.	380	41,450
Cooper Cos., Inc.	180	57,242
Copart, Inc. (c)	2,172	93,591
Corning, Inc.	12,522	381,545
CoStar Group, Inc. (c)	1,052	80,888
Crowdstrike Holdings, Inc. Class A (c)	161	26,948
Crown Castle, Inc. REIT	1,951	179,551
CSL Ltd.	1,675	271,126
CVS Health Corp.	2,381	166,241
Danaher Corp.	2,500	620,250
Darling Ingredients, Inc. (c)	1,543	80,545
Deere & Co.	1,067	402,664
DENTSPLY SIRONA, Inc.	656	22,409
Dexcom, Inc. (c)	1,472	137,338
Digital Realty Trust, Inc. REIT	6,529	790,140
Discover Financial Services	1,565	135,576
DocuSign, Inc. (c)	449	18,858
Dollar General Corp.	1,142	120,824
Dollar Tree, Inc. (c)	1,128	120,076
DoorDash, Inc. Class A (c)	374	29,722
DR Horton, Inc.	1,076	115,638
Eaton Corp. PLC	2,384	508,460
eBay, Inc.	6,730	296,726
Edison International	29,329	1,856,232
Edwards Lifesciences Corp. (c)	4,779	331,089
Electronic Arts, Inc.	233	28,053

Security Description	Shares	Value
Elevance Health, Inc.	1,284	$ 559,079
Eli Lilly & Co.	4,357	2,340,275
Enphase Energy, Inc. (c)	2,783	334,377
EPAM Systems, Inc. (c)	98	25,058
Equifax, Inc.	310	56,786
Equinix, Inc. REIT	1,091	792,350
Equitable Holdings, Inc.	6,646	188,680
Equity Residential REIT	2,972	174,486
Erie Indemnity Co. Class A	225	66,103
Essex Property Trust, Inc. REIT	968	205,303
Estee Lauder Cos., Inc. Class A	1,535	221,884
Etsy, Inc. (c)	892	57,605
Everest Group Ltd.	239	88,829
Exact Sciences Corp. (c)	521	35,543
Expeditors International of Washington, Inc.	1,136	130,220
Experian PLC	3,726	122,380
Extra Space Storage, Inc. REIT	774	94,103
F5, Inc. (c)	2,313	372,717
FactSet Research Systems, Inc.	77	33,669
Fastenal Co.	6,284	343,358
Fidelity National Information Services, Inc. (e)	2,238	123,694
Fifth Third Bancorp	6,480	164,138
First Solar, Inc. (c)	2,955	477,498
Fiserv, Inc. (c)	2,571	290,420
FleetCor Technologies, Inc. (c)	376	96,008
FMC Corp.	579	38,776
Fortinet, Inc. (c)	2,747	161,194
Fortive Corp.	3,834	284,329
Fox Corp. Class A	2,485	77,532
Fox Corp. Class B	2,275	65,702
Garmin Ltd.	1,141	120,033
Gartner, Inc. (c)	188	64,599
Genuine Parts Co.	877	126,621
Gilead Sciences, Inc.	2,123	159,098
Global Payments, Inc.	1,221	140,891
Globe Life, Inc.	1,002	108,947
GoDaddy, Inc. Class A (c)	514	38,283
Goldman Sachs Group, Inc.	306	99,012
GSK PLC	17,887	325,733
Haleon PLC	31,625	131,568
Hartford Financial Services Group, Inc.	3,116	220,956
Hasbro, Inc.	820	54,235
HEICO Corp.	782	126,629
HEICO Corp. Class A	358	46,261
Henry Schein, Inc. (c)	2,249	166,988
Hershey Co.	623	124,650
Hewlett Packard Enterprise Co.	37,532	651,931
Hilton Worldwide Holdings, Inc.	288	43,252
Hologic, Inc. (c)	1,777	123,324
Home Depot, Inc.	4,289	1,295,964
Honeywell International, Inc.	5,628	1,039,717

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Horizon Therapeutics PLC (c)	314	$ 36,327
Humana, Inc.	688	334,726
Huntington Bancshares, Inc.	3,159	32,854
IDEX Corp.	593	123,356
IDEXX Laboratories, Inc. (c)	454	198,521
Illinois Tool Works, Inc.	3,654	841,553
Illumina, Inc. (c)	806	110,648
Incyte Corp. (c)	544	31,427
Insulet Corp. (c)	243	38,756
Intel Corp.	22,239	790,596
Intercontinental Exchange, Inc.	2,420	266,248
International Business Machines Corp.	8,711	1,222,153
International Flavors & Fragrances, Inc.	467	31,835
Interpublic Group of Cos., Inc.	1,477	42,331
Intuit, Inc.	1,363	696,411
Intuitive Surgical, Inc. (c)	1,743	509,461
Invesco Ltd.	10,103	146,696
IQVIA Holdings, Inc. (c)	1,600	314,800
Iron Mountain, Inc. REIT	1,512	89,888
Jack Henry & Associates, Inc.	180	27,205
Jacobs Solutions, Inc.	1,697	231,641
Jazz Pharmaceuticals PLC (c)	688	89,055
Johnson & Johnson	11,987	1,866,975
JPMorgan Chase & Co.	13,283	1,926,301
Juniper Networks, Inc.	11,091	308,219
Keurig Dr Pepper, Inc.	5,943	187,621
KeyCorp	16,303	175,420
Keysight Technologies, Inc. (c)	1,302	172,268
KKR & Co., Inc.	2,588	159,421
KLA Corp.	721	330,694
Kraft Heinz Co.	769	25,869
L3Harris Technologies, Inc.	1,430	248,992
Laboratory Corp. of America Holdings	312	62,728
Lam Research Corp.	430	269,511
Leidos Holdings, Inc.	630	58,061
Lennar Corp. Class A	1,098	123,229
Liberty Media Corp.-Liberty Formula One Class C (c)	1,470	91,581
Liberty Media Corp.-Liberty SiriusXM Class C (c)	906	23,067
Live Nation Entertainment, Inc. (c)	1,070	88,853
LKQ Corp.	2,407	119,171
Lowe's Cos., Inc.	2,802	582,368
Lululemon Athletica, Inc. (c)	778	300,005
M&T Bank Corp.	1,350	170,708
Markel Group, Inc. (c)	124	182,589
MarketAxess Holdings, Inc.	138	29,482
Marriott International, Inc. Class A	249	48,943
Marsh & McLennan Cos., Inc.	2,678	509,623
Marvell Technology, Inc.	4,284	231,893
Masco Corp.	450	24,053
Mastercard, Inc. Class A	3,728	1,475,952

Security Description	Shares	Value
Match Group, Inc. (c)	849	$ 33,260
McDonald's Corp.	3,686	971,040
Medtronic PLC	7,745	606,898
Merck & Co., Inc.	14,577	1,500,702
Meta Platforms, Inc. Class A (c)	9,183	2,756,828
MetLife, Inc.	7,781	489,503
Mettler-Toledo International, Inc. (c)	146	161,778
Micron Technology, Inc.	1,778	120,957
Microsoft Corp.	29,583	9,340,832
Moderna, Inc. (c)	1,214	125,394
Molina Healthcare, Inc. (c)	180	59,020
Monster Beverage Corp. (c)	1,600	84,720
Moody's Corp.	1,404	443,903
Morgan Stanley	5,941	485,201
Motorola Solutions, Inc.	1,648	448,652
Nasdaq, Inc.	1,592	77,355
NetApp, Inc.	1,452	110,178
Netflix, Inc. (c)	1,785	674,016
Neurocrine Biosciences, Inc. (c)	329	37,013
Newmont Corp.	6,033	222,919
NIKE, Inc. Class B	4,481	428,473
Northern Trust Corp.	1,287	89,421
NVIDIA Corp.	10,612	4,616,114
NVR, Inc. (c)	11	65,596
Old Dominion Freight Line, Inc.	165	67,508
Omnicom Group, Inc.	998	74,331
Oracle Corp.	10,934	1,158,129
O'Reilly Automotive, Inc. (c)	452	410,805
PACCAR, Inc.	3,737	317,720
Palantir Technologies, Inc. Class A (c)	3,166	50,656
Palo Alto Networks, Inc. (c)	1,083	253,899
Paramount Global Class B	2,018	26,032
Parker-Hannifin Corp.	1,082	421,461
Paychex, Inc.	1,703	196,407
Paycom Software, Inc.	88	22,816
PayPal Holdings, Inc. (c)	4,461	260,790
Pentair PLC	6,550	424,112
Pfizer, Inc.	22,657	751,533
Pinterest, Inc. Class A (c)	1,427	38,572
PNC Financial Services Group, Inc.	2,717	333,566
Pool Corp.	204	72,644
PPG Industries, Inc.	2,558	332,028
Progressive Corp.	2,549	355,076
Prologis, Inc. REIT	5,632	631,967
Prudential Financial, Inc.	3,431	325,568
Public Storage REIT	963	253,770
PulteGroup, Inc.	941	69,681
QIAGEN NV (c)	532	21,556
QUALCOMM, Inc.	4,894	543,528
Quanta Services, Inc.	2,272	425,023
Quest Diagnostics, Inc.	374	45,576
Raymond James Financial, Inc.	681	68,393

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Realty Income Corp. REIT	3,517	$ 175,639
Regency Centers Corp. REIT	3,133	186,226
Regeneron Pharmaceuticals, Inc. (c)	391	321,777
Regions Financial Corp.	7,882	135,570
Reliance Steel & Aluminum Co.	818	214,504
ResMed, Inc.	953	140,920
Revvity, Inc.	1,892	209,444
Robert Half, Inc.	419	30,704
Roche Holding AG	3,060	837,754
Rockwell Automation, Inc.	889	254,138
Rollins, Inc.	1,051	39,234
Roper Technologies, Inc.	129	62,472
Ross Stores, Inc.	1,903	214,944
Royalty Pharma PLC Class A	1,947	52,842
S&P Global, Inc.	2,279	832,769
Salesforce, Inc. (c)	3,848	780,297
Sanofi	4,961	533,020
SBA Communications Corp. REIT	406	81,269
Schneider Electric SE	10,367	1,723,022
Seagen, Inc. (c)	234	49,643
SEI Investments Co.	774	46,618
ServiceNow, Inc. (c)	1,161	648,953
Sherwin-Williams Co.	2,789	711,334
Simon Property Group, Inc. REIT	2,521	272,344
Sirius XM Holdings, Inc. (a)	9,694	43,817
Skyworks Solutions, Inc.	231	22,774
Snap, Inc. Class A (c)	3,152	28,084
Snap-on, Inc.	152	38,769
Snowflake, Inc. Class A (c)	548	83,718
SolarEdge Technologies, Inc. (c)	1,738	225,088
Splunk, Inc. (c)	583	85,264
Stanley Black & Decker, Inc.	642	53,658
Starbucks Corp.	4,596	419,477
State Street Corp. (g)	555	37,163
STERIS PLC	363	79,649
Stryker Corp.	1,916	523,585
Sun Communities, Inc. REIT	180	21,301
Swiss Re AG	1,943	200,332
Synchrony Financial	3,999	122,249
T Rowe Price Group, Inc.	1,213	127,207
Target Corp.	2,214	244,802
TE Connectivity Ltd.	2,155	266,207
Teledyne Technologies, Inc. (c)	679	277,426
Teleflex, Inc.	267	52,441
Teradyne, Inc.	985	98,953
Tesla, Inc. (c)	12,345	3,088,966
Texas Instruments, Inc.	3,971	631,429
Thermo Fisher Scientific, Inc.	1,858	940,464
TJX Cos., Inc.	9,064	805,608
T-Mobile U.S., Inc. (c)	1,640	229,682
Trade Desk, Inc. Class A (c)	1,291	100,892

Security Description	Shares	Value
Tradeweb Markets, Inc. Class A	381	$ 30,556
Trane Technologies PLC	136	27,596
TransDigm Group, Inc. (c)	310	261,370
TransUnion	392	28,142
Travelers Cos., Inc.	1,802	294,285
Trimble, Inc. (c)	2,942	158,456
Truist Financial Corp.	8,288	237,120
U.S. Bancorp	7,375	243,817
Uber Technologies, Inc. (c)	6,662	306,385
U-Haul Holding Co.	1,875	98,231
Ulta Beauty, Inc. (c)	425	169,766
Union Pacific Corp.	2,721	554,077
United Parcel Service, Inc. Class B	2,593	404,171
United Rentals, Inc.	174	77,355
UnitedHealth Group, Inc.	3,891	1,961,803
Veeva Systems, Inc. Class A (c)	428	87,077
Ventas, Inc. REIT	2,649	111,602
VeriSign, Inc. (c)	233	47,189
Verisk Analytics, Inc.	492	116,230
Verizon Communications, Inc.	10,065	326,207
Vertex Pharmaceuticals, Inc. (c)	901	313,314
VF Corp. (a)	2,050	36,224
VICI Properties, Inc. REIT	2,481	72,197
Visa, Inc. Class A	7,243	1,665,962
VMware, Inc. Class A (c)	5,464	909,647
Vulcan Materials Co.	171	34,545
W R Berkley Corp.	2,405	152,693
Walmart, Inc.	1,009	161,369
Walt Disney Co. (c)	7,569	613,467
Warner Bros Discovery, Inc. (c)	3,235	35,132
Waters Corp. (c)	163	44,696
Wells Fargo & Co.	5,881	240,298
Welltower, Inc. REIT	3,314	271,483
West Pharmaceutical Services, Inc.	178	66,787
Westinghouse Air Brake Technologies Corp.	1,294	137,513
Willis Towers Watson PLC	703	146,899
Workday, Inc. Class A (c)	295	63,381
WP Carey, Inc. REIT	737	39,857
WW Grainger, Inc.	542	374,977
Wynn Resorts Ltd.	288	26,614
Xylem, Inc.	5,897	536,804
Yum! Brands, Inc.	1,699	212,273
Zebra Technologies Corp. Class A (c)	162	38,318
Zillow Group, Inc. Class C (c)	631	29,127
Zimmer Biomet Holdings, Inc.	1,243	139,489
Zoetis, Inc.	2,817	490,102
Zoom Video Communications, Inc. Class A (c)	769	53,784
		146,116,690

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
ZAMBIA — 0.0% (d)
First Quantum Minerals Ltd. (a)	2,633	$ 62,495
TOTAL COMMON STOCKS (Cost $228,257,230)		229,922,884


RIGHTS — 0.0% (d)
BRAZIL — 0.0% (d)
Localiza Rent a Car SA (expiring 11/30/23) (c)	77	246
CHILE — 0.0% (d)
Banco de Credito e Inversiones SA (expiring 10/21/23) (c)	192	160
SOUTH KOREA — 0.0% (d)
CosmoAM&T Co. Ltd. (expiring 11/07/23) (c)	9	177
TOTAL RIGHTS (Cost $0)		583
SHORT-TERM INVESTMENTS — 4.1%
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (h)(i)	1,610,265	1,610,587
State Street Navigator Securities Lending Portfolio II (g)(j)	7,811,145	7,811,145
TOTAL SHORT-TERM INVESTMENTS (Cost $9,421,717)		9,421,732
TOTAL INVESTMENTS — 103.0% (Cost $237,678,947)		239,345,199
LIABILITIES IN EXCESS OF OTHER ASSETS — (3.0)%		(6,905,185)
NET ASSETS — 100.0%		$ 232,440,014

(a)	All or a portion of the shares of the security are on loan at September 30, 2023.
(b)	Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.9% of net assets as of September 30, 2023, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(c)	Non-income producing security.
(d)	Amount is less than 0.05% of net assets.
(e)	Reflects separate holdings of the issuer's common stock traded on different securities exchanges.
(f)	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 September 30, 2023, total aggregate fair value of the securities is $0, representing 0.00% of the Fund's net assets.
(g)	The Fund invested in an affiliated entity. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(h)	The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(i)	The rate shown is the annualized seven-day yield at September 30, 2023.
(j)	Investment of cash collateral for securities loaned.

ADR	American Depositary Receipt
CDI	CREST Depository Interest
GDR	Global Depositary Receipt
NVDR	Non-Voting Depositary Receipt
REIT	Real Estate Investment Trust

At September 30, 2023, open futures contracts were as follows:

Description		Number of Contracts		Expiration Date		Notional Amount		Value		Unrealized Appreciation (Depreciation)
MSCI World NTR Index (long)		35		12/15/2023		$2,066,651		$1,971,200		$(95,451)

During the year ended September 30, 2023, average notional value related to long and short futures contracts were $1,641,185 and $77,652, respectively.

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI CLIMATE PARIS ALIGNED ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of September 30, 2023.

Description	Level 1 – Quoted Prices	Level 2 – Other Significant Observable Inputs	Level 3 – Significant Unobservable Inputs	Total
ASSETS:
INVESTMENTS:
Common Stocks	$229,795,019	$127,865	$ 0(a)	$229,922,884
Rights	406	177	—	583
Short-Term Investments	9,421,732	—	—	9,421,732
TOTAL INVESTMENTS	$239,217,157	$128,042	$ 0	$239,345,199
OTHER FINANCIAL INSTRUMENTS:
Futures Contracts - Unrealized Depreciation	$ (95,451)	$ —	$—	$ (95,451)
TOTAL OTHER FINANCIAL INSTRUMENTS:	$ (95,451)	$ —	$—	$ (95,451)

(a)	The Fund held Level 3 securities that were valued at $0 at September 30, 2023.

Sector Breakdown as of September 30, 2023


		% of Net Assets
	Information Technology	25.2
	Financials	17.4
	Health Care	13.4
	Industrials	12.7
	Consumer Discretionary	10.2
	Communication Services	6.9
	Real Estate	4.6
	Utilities	3.1
	Consumer Staples	2.9
	Materials	2.5
	Short-Term Investments	4.1
	Liabilities in Excess of Other Assets	(3.0)
	TOTAL	100.0

(The Fund's sector breakdown is expressed as a percentage of net assets and may change over time.)

Affiliate Table

	Number of Shares Held at 9/30/22	Value at 9/30/22	Cost of Purchases	Proceeds from Shares Sold	Realized Gain (Loss)	Change in Unrealized Appreciation/ Depreciation	Number of Shares Held at 9/30/23	Value at 9/30/23	Dividend Income
State Street Corp.	576	$ 35,027	$ —	$ 1,725	$158	$3,703	555	$ 37,163	$ 1,450
State Street Institutional Liquid Reserves Fund, Premier Class	291,468	291,527	12,060,516	10,741,500	59	(15)	1,610,265	1,610,587	63,252
State Street Navigator Securities Lending Portfolio II	6,666,602	6,666,602	53,615,157	52,470,614	—	—	7,811,145	7,811,145	40,736
Total		$6,993,156	$65,675,673	$63,213,839	$217	$3,688		$9,458,895	$105,438

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS

September 30, 2023

Security Description	Shares	Value
COMMON STOCKS — 99.1%
AUSTRALIA — 4.9%
ANZ Group Holdings Ltd.	212,066	$ 3,512,017
Aristocrat Leisure Ltd.	23,086	608,653
BHP Group Ltd.	327,319	9,347,885
Brambles Ltd.	167,048	1,543,879
Cochlear Ltd.	650	107,109
Coles Group Ltd.	86,682	870,497
Commonwealth Bank of Australia	116,552	7,520,008
Endeavour Group Ltd.	109,073	370,985
Flutter Entertainment PLC (a)	8,585	1,407,943
Fortescue Metals Group Ltd.	117,981	1,592,952
Glencore PLC	685,939	3,934,109
Goodman Group REIT	77,029	1,066,376
Insurance Australia Group Ltd.	254,202	931,872
Lendlease Corp. Ltd. Stapled Security	88,577	410,463
Macquarie Group Ltd.	30,633	3,316,112
Medibank Pvt Ltd.	198,445	440,583
Mineral Resources Ltd.	6,759	295,020
National Australia Bank Ltd.	198,178	3,718,171
Newcrest Mining Ltd.	54,354	860,163
Northern Star Resources Ltd.	52,064	351,478
Origin Energy Ltd.	205,325	1,163,497
Pilbara Minerals Ltd. (b)	129,806	360,240
QBE Insurance Group Ltd.	81,226	823,569
Rio Tinto Ltd.	26,458	1,938,979
Rio Tinto PLC	72,427	4,573,855
Santos Ltd.	166,991	851,430
Scentre Group REIT	194,739	309,184
Sonic Healthcare Ltd.	60,721	1,167,842
South32 Ltd. (c)	149,199	328,517
South32 Ltd. (c)	266,778	583,685
Suncorp Group Ltd.	167,833	1,513,222
Telstra Group Ltd.	294,444	731,631
Transurban Group Stapled Security	193,357	1,583,618
Vicinity Ltd. REIT	426,680	466,768
Wesfarmers Ltd.	86,682	2,957,229
Westpac Banking Corp.	248,246	3,388,609
WiseTech Global Ltd.	5,839	245,140
Woodside Energy Group Ltd.	135,175	3,183,458
Woolworths Group Ltd.	109,073	2,627,168
		71,003,916
AUSTRIA — 0.1%
Erste Group Bank AG	32,243	1,120,385
OMV AG	16,071	771,128
Verbund AG	691	56,370
		1,947,883
BELGIUM — 0.5%
Ageas SA	21,063	870,387
Anheuser-Busch InBev SA	49,080	2,728,601
KBC Group NV	21,215	1,328,366

Security Description	Shares	Value
Solvay SA	10,091	$ 1,120,201
UCB SA	13,873	1,138,910
Umicore SA	4,030	95,789
		7,282,254
BRAZIL — 1.6%
Ambev SA ADR	430,887	1,111,688
B3 SA - Brasil Bolsa Balcao	462,747	1,136,250
Banco Bradesco SA ADR (b)	504,993	1,439,230
Banco do Brasil SA	63,936	602,673
BB Seguridade Participacoes SA	55,514	346,158
CCR SA	34,011	87,589
Centrais Eletricas Brasileiras SA	78,535	578,829
Cia Energetica de Minas Gerais ADR	262,108	634,301
Cia Siderurgica Nacional SA ADR	133,120	318,157
Cosan SA	174,651	598,082
Energisa SA	20,804	194,315
Equatorial Energia SA	70,224	449,809
Gerdau SA ADR	104,586	498,875
Hapvida Participacoes e Investimentos SA (a)(d)	288,010	270,448
Itau Unibanco Holding SA Preference Shares ADR (b)	410,421	2,203,961
Klabin SA	14,154	67,331
Localiza Rent a Car SA	44,080	515,729
Lojas Renner SA	138,643	371,177
Magazine Luiza SA (a)	345,182	146,205
Natura & Co. Holding SA (a)	88,203	256,580
Petroleo Brasileiro SA Preference Shares ADR	255,508	3,503,015
PRIO SA (a)	35,481	333,458
Raia Drogasil SA	160,426	885,273
Rumo SA	86,575	394,718
Suzano SA	44,079	478,025
TOTVS SA	17,514	94,477
Vale SA	9,809	132,441
Vale SA ADR	217,837	2,919,016
Vibra Energia SA	33,561	126,863
WEG SA	92,661	671,465
Wheaton Precious Metals Corp.	30,652	1,249,659
Yara International ASA	18,738	713,713
		23,329,510
CANADA — 7.4%
Agnico Eagle Mines Ltd.	25,699	1,173,182
Algonquin Power & Utilities Corp. (b)	5,752	34,206
Alimentation Couche-Tard, Inc.	43,579	2,223,432
Bank of Montreal	56,672	4,802,868
Bank of Nova Scotia	82,585	3,718,768
Barrick Gold Corp.	122,118	1,782,092

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Brookfield Asset Management Ltd. Class A	23,681	$ 792,753
Brookfield Corp. (b)	94,750	2,976,355
CAE, Inc. (a)(b)	36,252	850,260
Cameco Corp. (b)	36,107	1,439,206
Canadian Apartment Properties REIT	2,433	81,124
Canadian Imperial Bank of Commerce	65,306	2,532,540
Canadian National Railway Co.	50,619	5,507,063
Canadian Natural Resources Ltd.	86,734	5,635,144
Canadian Pacific Kansas City Ltd. (b)	57,329	4,281,018
Canadian Tire Corp. Ltd. Class A (b)	9,938	1,073,554
Cenovus Energy, Inc.	81,295	1,700,461
CGI, Inc. (a)	11,276	1,116,591
Constellation Software, Inc.	1,299	2,694,147
Dollarama, Inc.	17,629	1,220,208
Enbridge, Inc.	98,839	3,293,415
Fairfax Financial Holdings Ltd.	1,179	966,893
FirstService Corp. (b)	1,708	249,580
Franco-Nevada Corp.	12,528	1,680,253
George Weston Ltd.	4,894	545,254
GFL Environmental, Inc. (b)	3,106	99,084
Gildan Activewear, Inc. (b)	26,995	760,133
IGM Financial, Inc. (b)	18,601	473,968
Imperial Oil Ltd. (b)	33,800	2,091,500
Intact Financial Corp.	2,856	418,303
Kinross Gold Corp. (b)	110,494	505,886
Loblaw Cos. Ltd.	24,949	2,129,523
Magna International, Inc. (b)	15,852	853,452
Manulife Financial Corp. (b)	128,403	2,357,221
National Bank of Canada (b)	39,270	2,620,808
Nutrien Ltd. (b)	37,239	2,310,360
Nuvei Corp. (b)(d)	7,588	114,325
Onex Corp. (b)	6,408	378,366
Open Text Corp.	18,601	655,850
Pan American Silver Corp. (b)	12,516	182,000
Parkland Corp.	1,659	48,752
Pembina Pipeline Corp.	7,967	240,660
RB Global, Inc. (b)	4,628	291,098
Restaurant Brands International, Inc. (b)	15,847	1,060,178
Rogers Communications, Inc. Class B	43,510	1,678,289
Royal Bank of Canada	103,897	9,121,726
Shopify, Inc. Class A (a)	72,600	3,981,186
Sun Life Financial, Inc.	51,809	2,539,484
Suncor Energy, Inc.	109,363	3,778,362
TC Energy Corp. (b)	59,103	2,041,939
Teck Resources Ltd. Class B	37,641	1,627,583
TELUS Corp. (c)	72,705	1,192,749

Security Description	Shares	Value
TELUS Corp. (a)(c)	1,085	$ 17,800
Thomson Reuters Corp. (b)	25,182	3,094,853
Toronto-Dominion Bank (b)	135,996	8,231,178
		107,266,983
CHILE — 0.1%
Banco Santander Chile	3,130,926	144,218
Cia Sud Americana de Vapores SA	500,606	29,868
Enel Americas SA (a)	1,302,677	148,736
Enel Chile SA ADR	255,649	756,721
Sociedad Quimica y Minera de Chile SA ADR	12,634	753,871
		1,833,414
CHINA — 8.5%
37 Interactive Entertainment Network Technology Group Co. Ltd. Class A	22,500	67,014
3peak, Inc. Class A	2,951	73,717
3SBio, Inc. (d)	215,000	179,811
AAC Technologies Holdings, Inc. (b)	72,000	123,189
Advanced Micro-Fabrication Equipment, Inc. China Class A	3,343	69,078
AECC Aero-Engine Control Co. Ltd. Class A	43,600	128,483
AECC Aviation Power Co. Ltd. Class A	27,500	140,222
Agricultural Bank of China Ltd. Class H	1,992,000	742,690
AIMA Technology Group Co. Ltd. Class A	25,700	104,412
Air China Ltd. Class A (a)	30,600	33,936
Air China Ltd. Class H (a)	216,000	145,897
Airtac International Group	17,789	539,503
Akeso, Inc. (a)(d)	52,000	239,024
Alibaba Group Holding Ltd. (a)	857,904	9,376,615
Alibaba Group Holding Ltd. ADR (a)	16,451	1,426,960
Alibaba Health Information Technology Ltd. (a)	292,000	181,944
Aluminum Corp. of China Ltd. Class A	138,100	119,036
Anhui Conch Cement Co. Ltd. Class H	33,500	89,184
Anhui Gujing Distillery Co. Ltd. Class B	12,900	215,773
Anhui Honglu Steel Construction Group Co. Ltd. Class A	17,520	68,125
Anjoy Foods Group Co. Ltd. Class A	11,000	187,215
ANTA Sports Products Ltd.	61,400	691,077
Asymchem Laboratories Tianjin Co. Ltd. Class A	11,620	241,945

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Autohome, Inc. ADR	5,580	$ 169,353
AviChina Industry & Technology Co. Ltd. Class H	536,000	254,591
Avicopter PLC Class A	31,200	162,086
Baidu, Inc. Class A (a)	149,264	2,542,416
Bank of Chengdu Co. Ltd. Class A	68,600	129,559
Bank of China Ltd. Class H	5,462,436	1,911,052
Bank of Communications Co. Ltd. Class H	1,080,710	654,068
Bank of Ningbo Co. Ltd. Class A	14,100	52,001
BeiGene Ltd. (a)	43,471	597,238
Beijing Enterprises Water Group Ltd.	320,000	69,869
Beijing United Information Technology Co. Ltd. Class A	10,900	49,714
Bilibili, Inc. Class Z (a)(b)	14,262	197,217
BOC Hong Kong Holdings Ltd.	162,500	445,058
BTG Hotels Group Co. Ltd. Class A (a)	15,100	35,710
BYD Co. Ltd. Class A	12,100	393,106
BYD Co. Ltd. Class H	57,500	1,776,719
BYD Electronic International Co. Ltd.	42,000	191,449
Canmax Technologies Co. Ltd. Class A	4,680	16,508
CETC Cyberspace Security Technology Co. Ltd. Class A	26,300	85,841
CGN Power Co. Ltd. Class H (d)	644,400	167,027
Changchun High & New Technology Industry Group, Inc. Class A, NVDR	2,400	45,788
Chengxin Lithium Group Co. Ltd. Class A	6,200	19,028
China Baoan Group Co. Ltd. Class A	34,600	49,485
China CITIC Bank Corp. Ltd. Class H	519,000	241,215
China Conch Venture Holdings Ltd.	42,500	36,249
China Construction Bank Corp. Class A	67,100	58,021
China Construction Bank Corp. Class H	4,868,720	2,747,721
China Eastern Airlines Corp. Ltd. Class A (a)	297,400	179,605
China Everbright Bank Co. Ltd. Class H	36,000	10,802
China Everbright Environment Group Ltd.	143,628	49,515
China Feihe Ltd. (d)	136,000	80,226

Security Description	Shares	Value
China Galaxy Securities Co. Ltd. Class H	183,500	$ 94,657
China Gas Holdings Ltd.	118,400	111,720
China Greatwall Technology Group Co. Ltd. Class A	70,400	101,362
China Hongqiao Group Ltd.	6,500	6,366
China Jinmao Holdings Group Ltd.	279,678	36,067
China Life Insurance Co. Ltd. Class H	547,000	852,085
China Literature Ltd. (a)(d)	39,400	144,131
China Longyuan Power Group Corp. Ltd. Class H	169,000	147,166
China Medical System Holdings Ltd.	34,000	51,487
China Meidong Auto Holdings Ltd.	72,000	39,439
China Mengniu Dairy Co. Ltd.	353,000	1,183,150
China Merchants Bank Co. Ltd. Class H	398,014	1,661,811
China Merchants Port Holdings Co. Ltd.	416,108	518,020
China Minsheng Banking Corp. Ltd. Class H (b)	330,200	112,992
China Northern Rare Earth Group High-Tech Co. Ltd. Class A	19,100	57,124
China Oilfield Services Ltd. Class H	286,000	343,265
China Overseas Land & Investment Ltd.	308,000	638,664
China Overseas Property Holdings Ltd.	195,000	220,101
China Pacific Insurance Group Co. Ltd. Class H	181,600	454,472
China Petroleum & Chemical Corp. Class H	2,205,800	1,205,440
China Power International Development Ltd. (b)	244,000	88,791
China Railway Group Ltd. Class H	200,000	103,168
China Rare Earth Resources & Technology Co. Ltd. Class A	13,400	52,951
China Resources Beer Holdings Co. Ltd.	189,670	1,040,154
China Resources Gas Group Ltd.	33,800	99,046
China Resources Land Ltd.	164,000	653,332
China Resources Mixc Lifestyle Services Ltd. (d)	38,200	154,130
China Resources Power Holdings Co. Ltd.	140,000	267,063
China Ruyi Holdings Ltd. (a)(b)	460,000	119,231
China Shenhua Energy Co. Ltd. Class H	245,500	796,198

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
China Southern Airlines Co. Ltd. Class A (a)	187,900	$ 157,835
China Southern Airlines Co. Ltd. Class H (a)	220,000	107,025
China Taiping Insurance Holdings Co. Ltd.	132,000	131,463
China Tourism Group Duty Free Corp. Ltd. Class A	9,300	135,267
China Traditional Chinese Medicine Holdings Co. Ltd.	318,000	148,203
China Vanke Co. Ltd. Class H	73,600	81,195
China Yangtze Power Co. Ltd. Class A	129,600	395,608
Chinasoft International Ltd.	182,000	129,671
Chongqing Brewery Co. Ltd. Class A	22,655	265,116
Chongqing Changan Automobile Co. Ltd. Class A	51,400	94,817
Chongqing Zhifei Biological Products Co. Ltd. Class A	16,350	109,221
CITIC Ltd.	380,000	349,343
CITIC Securities Co. Ltd. Class H	105,225	213,356
Contemporary Amperex Technology Co. Ltd. Class A	16,320	454,785
COSCO SHIPPING Holdings Co. Ltd. Class A	97,720	131,576
COSCO SHIPPING Holdings Co. Ltd. Class H	106,149	108,835
COSCO SHIPPING Ports Ltd.	495,685	324,050
Country Garden Holdings Co. Ltd. (a)(b)	887,248	103,091
Country Garden Services Holdings Co. Ltd. (b)	139,000	143,404
CSPC Pharmaceutical Group Ltd.	630,800	462,316
Daqo New Energy Corp. ADR (a)	4,258	128,890
DaShenLin Pharmaceutical Group Co. Ltd. Class A	41,433	143,024
Dongyue Group Ltd.	104,000	78,214
East Buy Holding Ltd. (a)(b)(d)	25,000	117,948
Ecovacs Robotics Co. Ltd. Class A	7,000	46,598
ENN Energy Holdings Ltd.	43,000	356,876
ESR Group Ltd. (d)	105,000	147,475
Eve Energy Co. Ltd. Class A	12,100	74,934
FAW Jiefang Group Co. Ltd. Class A (a)	49,600	59,092
Flat Glass Group Co. Ltd. Class H (b)	31,000	69,664
Foshan Haitian Flavouring & Food Co. Ltd. Class A	14,568	75,962
Fosun International Ltd.	72,500	45,823

Security Description	Shares	Value
Fuyao Glass Industry Group Co. Ltd. Class A	5,500	$ 27,871
Ganfeng Lithium Group Co. Ltd. Class A	9,940	60,848
Ganfeng Lithium Group Co. Ltd. Class H (d)	17,080	70,114
G-bits Network Technology Xiamen Co. Ltd. Class A	4,700	235,860
GCL Technology Holdings Ltd.	1,028,000	191,638
GDS Holdings Ltd. Class A (a)	84,548	116,590
Geely Automobile Holdings Ltd.	476,000	561,584
Genscript Biotech Corp. (a)	152,000	400,774
GF Securities Co. Ltd. Class H	132,400	177,844
GigaDevice Semiconductor, Inc. Class A	5,100	69,020
Ginlong Technologies Co. Ltd. Class A	5,500	59,267
GoerTek, Inc. Class A	91,400	197,961
GoodWe Technologies Co. Ltd. Class A	3,164	57,406
Great Wall Motor Co. Ltd. Class H (b)	236,500	282,042
Guangzhou Automobile Group Co. Ltd. Class A	66,500	91,365
Guangzhou Automobile Group Co. Ltd. Class H	179,600	88,747
Guangzhou Kingmed Diagnostics Group Co. Ltd. Class A	28,700	245,648
Guangzhou Tinci Materials Technology Co. Ltd. Class A	14,900	55,279
H World Group Ltd. ADR (a)	12,039	474,698
Haidilao International Holding Ltd. (d)	129,000	345,895
Haier Smart Home Co. Ltd. Class H	169,600	533,800
Haitong Securities Co. Ltd. Class H	145,600	87,377
Hangzhou Chang Chuan Technology Co. Ltd. Class A	15,900	73,174
Hangzhou First Applied Material Co. Ltd. Class A	12,152	47,636
Hangzhou Robam Appliances Co. Ltd. Class A	15,400	56,965
Hangzhou Silan Microelectronics Co. Ltd. Class A	14,300	47,812
Hangzhou Tigermed Consulting Co. Ltd. Class A	16,400	149,915
Hengan International Group Co. Ltd.	64,000	203,885

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Hoshine Silicon Industry Co. Ltd. Class A	3,800	$ 31,508
Hoymiles Power Electronics, Inc. Class A	1,883	70,867
Hoyuan Green Energy Co. Ltd. Class A	6,651	38,231
Hua Hong Semiconductor Ltd. (a)(b)(d)	28,000	70,931
Huadian Power International Corp. Ltd. Class A	269,700	190,640
Hualan Biological Engineering, Inc. Class A	56,320	171,610
Huaneng Power International, Inc. Class H (a)(b)	862,000	418,241
Huatai Securities Co. Ltd. Class H (d)	142,000	181,311
Huaxi Securities Co. Ltd. Class A	14,400	16,444
Hubei Feilihua Quartz Glass Co. Ltd. Class A	7,300	45,328
Humanwell Healthcare Group Co. Ltd. Class A	1,800	5,976
Hygeia Healthcare Holdings Co. Ltd. Class C (d)	33,800	189,460
Iflytek Co. Ltd. Class A	10,000	69,533
Industrial & Commercial Bank of China Ltd. Class H	4,512,045	2,171,953
Ingenic Semiconductor Co. Ltd. Class A	9,100	92,065
Innovent Biologics, Inc. (a)(d)	96,000	468,855
iQIYI, Inc. ADR (a)(b)	39,916	189,202
JA Solar Technology Co. Ltd. Class A	19,252	67,593
Jason Furniture Hangzhou Co. Ltd. Class A	11,100	61,687
JD Health International, Inc. (a)(b)(d)	64,150	332,551
JD.com, Inc. Class A	129,752	1,906,887
Jiangsu Eastern Shenghong Co. Ltd. Class A	16,800	26,633
Jiangsu Expressway Co. Ltd. Class H	14,000	12,638
Jiangsu Hengli Hydraulic Co. Ltd. Class A	5,400	47,361
Jiangsu King's Luck Brewery JSC Ltd. Class A	21,800	175,549
Jiangsu Pacific Quartz Co. Ltd. Class A	3,000	43,923
JiuGui Liquor Co. Ltd. Class A	2,900	35,111
Jiumaojiu International Holdings Ltd. (b)(d)	113,000	153,805
Jointown Pharmaceutical Group Co. Ltd. Class A	190,245	282,792
JOYY, Inc. ADR	4,820	183,690
Juneyao Airlines Co. Ltd. Class A (a)	46,600	91,463
Kanzhun Ltd. ADR (a)	17,572	266,567

Security Description	Shares	Value
KE Holdings, Inc. ADR	40,914	$ 634,985
Kingdee International Software Group Co. Ltd. (a)	205,000	252,329
Kingsoft Corp. Ltd.	118,600	430,070
Kuaishou Technology (a)(d)	145,800	1,170,034
Kuang-Chi Technologies Co. Ltd. Class A	100,900	199,979
Kweichow Moutai Co. Ltd. Class A	5,245	1,294,773
Lenovo Group Ltd.	412,000	424,528
Lens Technology Co. Ltd. Class A	12,600	21,237
Li Auto, Inc. Class A (a)	72,120	1,273,543
Li Ning Co. Ltd.	134,000	563,762
Lingyi iTech Guangdong Co. Class A	95,500	74,976
Longfor Group Holdings Ltd. (d)	101,103	181,762
LONGi Green Energy Technology Co. Ltd. Class A	24,192	90,582
Lufax Holding Ltd. ADR	37,435	39,681
Luxshare Precision Industry Co. Ltd. Class A	55,918	228,868
Luzhou Laojiao Co. Ltd. Class A	6,200	184,364
Mango Excellent Media Co. Ltd. Class A	38,700	150,375
Maxscend Microelectronics Co. Ltd. Class A	5,440	87,136
Meituan Class B (a)(d)	304,900	4,461,467
Microport Scientific Corp. (a)(b)	79,341	119,946
Muyuan Foods Co. Ltd. Class A	28,162	146,458
Nanjing King-Friend Biochemical Pharmaceutical Co. Ltd. Class A	59,207	103,124
NAURA Technology Group Co. Ltd. Class A	11,700	387,498
NetEase, Inc.	120,375	2,451,504
New China Life Insurance Co. Ltd. Class H	71,600	172,604
New Hope Liuhe Co. Ltd. Class A (a)	49,000	73,980
New Oriental Education & Technology Group, Inc. (a)	113,390	690,603
NIO, Inc. ADR (a)	92,404	835,332
Nongfu Spring Co. Ltd. Class H (b)(d)	72,200	414,845
North Industries Group Red Arrow Co. Ltd. Class A	14,900	30,186
Ovctek China, Inc. Class A	49,269	173,658
PDD Holdings, Inc. ADR (a)	35,620	3,493,253
Perfect World Co. Ltd. Class A	42,150	76,366

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
PetroChina Co. Ltd. Class H	1,328,000	$ 1,000,428
Pharmaron Beijing Co. Ltd. Class A	13,800	58,907
PICC Property & Casualty Co. Ltd. Class H	605,415	777,655
Ping An Healthcare & Technology Co. Ltd. (a)(b)(d)	30,900	72,122
Ping An Insurance Group Co. of China Ltd. Class A	38,000	251,916
Ping An Insurance Group Co. of China Ltd. Class H	355,000	2,032,949
Prosus NV	117,892	3,484,923
Pylon Technologies Co. Ltd. Class A	3,029	54,338
Qifu Technology, Inc. ADR	6,524	100,209
Raytron Technology Co. Ltd. Class A	14,572	95,403
Rockchip Electronics Co. Ltd. Class A	9,400	79,282
SAIC Motor Corp. Ltd. Class A	49,300	100,146
Sangfor Technologies, Inc. Class A (a)	10,100	129,353
Seres Group Co. Ltd. Class A (a)	25,700	196,549
SF Holding Co. Ltd. Class A	6,800	38,080
SG Micro Corp. Class A	3,620	38,641
Shandong Gold Mining Co. Ltd. Class A	74,041	255,179
Shandong Weigao Group Medical Polymer Co. Ltd. Class H	245,600	215,751
Shanghai Bairun Investment Holding Group Co. Ltd. Class A	43,416	171,799
Shanghai Baosight Software Co. Ltd. Class A	66,429	411,936
Shanghai Fosun Pharmaceutical Group Co. Ltd. Class A	8,700	34,152
Shanghai Fosun Pharmaceutical Group Co. Ltd. Class H	22,000	51,686
Shanghai Fudan Microelectronics Group Co. Ltd. Class A	5,713	37,403
Shanghai Jinjiang International Hotels Co. Ltd. Class A	17,013	87,800
Shanghai M&G Stationery, Inc. Class A	16,400	82,160
Shanghai Pharmaceuticals Holding Co. Ltd. Class H	28,800	44,937
Shanghai RAAS Blood Products Co. Ltd. Class A	275,677	263,351
Shanxi Meijin Energy Co. Ltd. Class A (a)	185,000	178,252

Security Description	Shares	Value
Shanxi Xinghuacun Fen Wine Factory Co. Ltd. Class A	14,200	$ 466,788
Shenghe Resources Holding Co. Ltd. Class A	13,400	19,992
Shengyi Technology Co. Ltd. Class A	45,800	96,557
Shennan Circuits Co. Ltd. Class A	8,680	79,309
Shenzhen Capchem Technology Co. Ltd. Class A	5,760	34,643
Shenzhen Energy Group Co. Ltd. Class A	261,340	228,851
Shenzhen Kangtai Biological Products Co. Ltd. Class A (a)	36,501	146,640
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. Class A	4,900	181,460
Shenzhen Overseas Chinese Town Co. Ltd. Class A (a)	55,200	32,048
Shenzhen SC New Energy Technology Corp. Class A	11,500	119,881
Shenzhen Senior Technology Material Co. Ltd. Class A	11,537	20,696
Shenzhou International Group Holdings Ltd.	42,100	403,161
Shijiazhuang Yiling Pharmaceutical Co. Ltd. Class A	9,100	29,302
Sichuan Chuantou Energy Co. Ltd. Class A	157,370	319,676
Silergy Corp.	22,000	207,525
Sinopharm Group Co. Ltd. Class H	57,600	166,949
Skshu Paint Co. Ltd. Class A (a)	9,240	86,912
Smoore International Holdings Ltd. (b)(d)	120,000	108,940
Songcheng Performance Development Co. Ltd. Class A	28,700	48,137
StarPower Semiconductor Ltd. Class A	2,800	69,038
Sungrow Power Supply Co. Ltd. Class A	7,000	85,999
Sunny Optical Technology Group Co. Ltd.	50,600	353,406
TAL Education Group ADR (a)	38,696	352,521
TCL Zhonghuan Renewable Energy Technology Co. Ltd. Class A	14,900	47,814
Tencent Holdings Ltd.	397,500	15,540,964
Tencent Music Entertainment Group ADR (a)	51,413	328,015
Thunder Software Technology Co. Ltd. Class A	7,100	74,618

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Tianjin 712 Communication & Broadcasting Co. Ltd. Class A	10,800	$ 37,474
Tianqi Lithium Corp. Class A	4,200	31,665
Tingyi Cayman Islands Holding Corp.	290,000	405,089
Tongcheng Travel Holdings Ltd. (a)	119,200	261,782
TongFu Microelectronics Co. Ltd. Class A	24,200	63,674
Tongwei Co. Ltd. Class A	15,100	66,860
Topchoice Medical Corp. Class A (a)	4,600	55,687
TravelSky Technology Ltd. Class H	56,000	97,101
Trina Solar Co. Ltd. Class A	6,130	25,721
Trip.com Group Ltd. (a)	32,875	1,171,971
Tsingtao Brewery Co. Ltd. Class H	60,000	491,072
Verisilicon Microelectronics Shanghai Co. Ltd. Class A (a)	10,886	89,574
Vipshop Holdings Ltd. ADR (a)	39,619	634,300
Walvax Biotechnology Co. Ltd. Class A	60,198	194,498
Want Want China Holdings Ltd.	145,000	94,607
Weibo Corp. ADR	6,297	78,964
Weichai Power Co. Ltd. Class A	80,800	138,959
Wens Foodstuffs Group Co. Ltd. Class A	16,080	38,358
Will Semiconductor Co. Ltd. Shanghai Class A	8,100	103,460
Wuhan Guide Infrared Co. Ltd. Class A	156,749	163,940
Wuliangye Yibin Co. Ltd. Class A	16,400	351,376
WuXi AppTec Co. Ltd. Class A	23,802	281,544
WuXi AppTec Co. Ltd. Class H (b)(d)	6,300	75,413
Wuxi Biologics Cayman, Inc. (a)(d)	228,500	1,331,872
Xiaomi Corp. Class B (a)(d)	824,800	1,299,569
Xinyi Solar Holdings Ltd.	286,961	214,712
XPeng, Inc. ADR (a)	12,389	227,462
XPeng, Inc. Class A (a)(b)	44,512	397,558
Yadea Group Holdings Ltd. (d)	116,000	215,357
Yankuang Energy Group Co. Ltd. Class H (b)	288,000	544,239
Yealink Network Technology Corp. Ltd. Class A	29,290	143,279
Yifeng Pharmacy Chain Co. Ltd. Class A	20,430	98,340

Security Description	Shares	Value
Yihai International Holding Ltd.	56,000	$ 96,529
Yonyou Network Technology Co. Ltd. Class A	18,430	42,042
Youngor Group Co. Ltd. Class A	124,760	121,750
Yum China Holdings, Inc.	24,635	1,372,662
Yunda Holding Co. Ltd. Class A	11,570	15,658
Yunnan Energy New Material Co. Ltd. Class A	3,400	27,953
Zai Lab Ltd. ADR (a)(b)	9,494	230,799
Zhejiang Huayou Cobalt Co. Ltd. Class A	6,240	32,126
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd. Class A	8,100	53,042
ZhongAn Online P&C Insurance Co. Ltd. Class H (a)(d)	37,200	109,721
Zhongsheng Group Holdings Ltd.	24,500	68,978
Zhuzhou CRRC Times Electric Co. Ltd. Class H	72,000	249,137
Zijin Mining Group Co. Ltd. Class H	842,000	1,287,966
ZTE Corp. Class H	63,000	190,242
ZTO Express Cayman, Inc. ADR	22,500	543,825
		123,265,631
COLOMBIA — 0.1%
Bancolombia SA ADR (b)	25,063	668,681
DENMARK — 2.2%
AP Moller - Maersk AS Class B	653	1,180,707
Chr Hansen Holding AS	1,967	120,759
Coloplast AS Class B	4,468	474,256
Danske Bank AS	59,028	1,377,393
DSV AS	19,200	3,595,638
Genmab AS (a)	5,029	1,790,767
Novo Nordisk AS Class B	213,990	19,563,289
Novozymes AS Class B	13,686	553,215
Orsted AS (d)	7,294	398,813
Pandora AS	8,263	858,305
Vestas Wind Systems AS (a)	77,599	1,669,824
		31,582,966
EGYPT — 0.1%
Commercial International Bank Egypt SAE	344,307	668,557
FINLAND — 0.7%
Elisa Oyj	9,919	460,921
Fortum Oyj (b)	12,680	147,607
Kone Oyj Class B	29,391	1,242,219
Neste Oyj (b)	26,576	904,053
Nokia Oyj (c)	197,382	745,634

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Nokia Oyj (c)	104,575	$ 396,318
Nordea Bank Abp (c)	204,184	2,257,560
Nordea Bank Abp (c)	3,141	34,625
Sampo Oyj Class A	31,046	1,347,011
Stora Enso Oyj Class R	65,464	824,096
UPM-Kymmene Oyj	56,729	1,950,208
Wartsila Oyj Abp	30,881	351,638
		10,661,890
FRANCE — 6.8%
Accor SA	23,381	790,663
Adevinta ASA (a)	13,335	132,713
Air Liquide SA	41,121	6,958,932
Airbus SE	37,667	5,063,954
Alstom SA	26,594	636,335
AXA SA	120,069	3,582,328
BioMerieux	642	62,412
BNP Paribas SA	70,606	4,517,391
Bouygues SA	20,892	733,037
Capgemini SE	14,655	2,572,550
Carrefour SA	57,877	997,900
Cie de Saint-Gobain SA	33,675	2,027,966
Cie Generale des Etablissements Michelin SCA	45,495	1,400,239
Credit Agricole SA	59,682	738,798
Danone SA	46,651	2,581,213
Dassault Systemes SE	42,721	1,596,423
Edenred SE	11,815	741,541
Engie SA	87,440	1,345,145
EssilorLuxottica SA	20,553	3,593,962
Hermes International SCA	1,164	2,131,780
Kering SA	5,774	2,640,301
Klepierre SA REIT	9,867	242,676
La Francaise des Jeux SAEM (d)	351	11,446
Legrand SA	18,720	1,730,269
L'Oreal SA	16,996	7,075,444
LVMH Moet Hennessy Louis Vuitton SE	18,449	13,993,355
Orange SA	142,491	1,638,365
Pernod Ricard SA	17,263	2,885,056
Publicis Groupe SA	25,810	1,960,938
Renault SA	6,436	264,899
Safran SA	21,152	3,328,745
Sartorius Stedim Biotech	963	230,424
Societe Generale SA	37,041	903,759
Sodexo SA	11,799	1,218,238
Teleperformance SE	1,419	179,383
TotalEnergies SE	160,640	10,597,536
Unibail-Rodamco-Westfield REIT (a)	47,468	112,127
Unibail-Rodamco-Westfield REIT (a)	6,321	312,868
Valeo SE	15,983	276,336
Veolia Environnement SA	47,611	1,382,695
Vinci SA	37,974	4,222,326

Security Description	Shares	Value
Vivendi SE	87,371	$ 767,414
Worldline SA (a)(d)	8,724	246,154
		98,426,036
GERMANY — 5.2%
adidas AG	12,418	2,190,646
Allianz SE	27,467	6,563,511
BASF SE	63,050	2,867,093
Bayer AG	65,962	3,174,104
Bayerische Motoren Werke AG	24,078	2,456,975
Commerzbank AG	50,229	573,812
Continental AG	6,527	461,342
Covestro AG (a)(d)	11,638	629,148
Daimler Truck Holding AG	28,560	992,408
Deutsche Bank AG	123,495	1,366,341
Deutsche Boerse AG	14,697	2,547,246
Deutsche Lufthansa AG (a)	51,072	405,868
Deutsche Post AG	84,566	3,450,203
Deutsche Telekom AG	234,421	4,931,103
Dr Ing hc F Porsche AG (d)	2,816	265,348
E.ON SE	161,061	1,909,861
Fresenius Medical Care AG & Co. KGaA	18,893	816,921
Fresenius SE & Co. KGaA	28,839	899,511
HelloFresh SE (a)	10,476	313,667
Henkel AG & Co. KGaA Preference Shares	7,131	509,319
Infineon Technologies AG	54,426	1,806,786
Mercedes-Benz Group AG	53,702	3,746,307
Merck KGaA	10,915	1,827,622
MTU Aero Engines AG	1,338	243,302
Muenchener Rueckversicherungs-Gesellschaft AG	12,249	4,786,721
Porsche Automobil Holding SE Preference Shares	10,317	509,564
Puma SE	5,698	354,726
Rheinmetall AG	1,881	485,729
RWE AG	41,560	1,546,658
SAP SE	71,862	9,344,624
Sartorius AG Preference Shares	1,732	590,102
Scout24 SE (d)	1,545	107,405
Siemens AG	52,555	7,548,476
Siemens Energy AG (a)	28,905	378,867
Siemens Healthineers AG (d)	18,270	928,482
Symrise AG	8,684	830,419
Volkswagen AG	4,144	547,116
Volkswagen AG Preference Shares	9,270	1,069,204
Vonovia SE	35,846	865,684
Zalando SE (a)(d)	8,239	184,318
		75,026,539
GREECE — 0.1%
Hellenic Telecommunications Organization SA	2,626	38,424

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
JUMBO SA	28,969	$ 797,444
OPAP SA	53,119	891,962
		1,727,830
HONG KONG — 1.4%
AIA Group Ltd.	770,800	6,284,030
China Common Rich Renewable Energy Investments Ltd. (a)(b)(e)	448,000	—
China Huishan Dairy Holdings Co. Ltd. (a)(e)	1,418,000	—
CK Asset Holdings Ltd.	102,832	541,611
CLP Holdings Ltd.	91,000	673,334
Futu Holdings Ltd. ADR (a)(b)	3,578	206,844
Hang Lung Properties Ltd.	331,000	453,063
Hang Seng Bank Ltd.	52,400	652,002
Henderson Land Development Co. Ltd.	217,317	572,993
Hong Kong & China Gas Co. Ltd.	713,057	497,110
Hong Kong Exchanges & Clearing Ltd.	84,540	3,158,437
Jardine Matheson Holdings Ltd.	5,000	232,100
Link REIT	309,482	1,517,408
New World Development Co. Ltd.	145,601	283,325
Prudential PLC	133,488	1,448,111
Sino Biopharmaceutical Ltd.	1,261,500	455,837
Sun Hung Kai Properties Ltd.	107,685	1,152,218
Swire Pacific Ltd. Class A	72,006	485,903
Techtronic Industries Co. Ltd.	110,500	1,072,288
Vinda International Holdings Ltd.	39,000	93,717
WH Group Ltd. (d)	249,205	130,778
Wharf Real Estate Investment Co. Ltd.	58,000	224,021
		20,135,130
HUNGARY — 0.1%
MOL Hungarian Oil & Gas PLC	78,786	600,169
OTP Bank Nyrt	23,143	839,207
		1,439,376
INDIA — 4.3%
Adani Enterprises Ltd.	17,615	512,045
Adani Green Energy Ltd. (a)	31,327	372,399
Adani Ports & Special Economic Zone Ltd.	52,363	520,312
Adani Power Ltd. (a)	50,823	231,007
Ambuja Cements Ltd.	135,004	690,617
Apollo Hospitals Enterprise Ltd.	6,960	430,614
Asian Paints Ltd.	18,832	716,859
Aurobindo Pharma Ltd.	30,321	333,858
Avenue Supermarts Ltd. (a)(d)	7,118	315,059

Security Description	Shares	Value
Axis Bank Ltd.	148,656	$ 1,855,845
Bajaj Auto Ltd.	6,170	376,235
Bajaj Finance Ltd.	11,961	1,125,036
Bajaj Finserv Ltd.	30,726	569,906
Balkrishna Industries Ltd.	4,879	150,281
Bandhan Bank Ltd. (d)	86,254	261,334
Bharat Electronics Ltd.	382,531	637,081
Bharat Forge Ltd.	11,334	148,989
Bharat Petroleum Corp. Ltd.	79,010	329,774
Bharti Airtel Ltd.	147,341	1,643,722
Cholamandalam Investment & Finance Co. Ltd.	50,830	745,269
Cipla Ltd.	19,171	273,836
Dabur India Ltd.	63,747	423,438
Divi's Laboratories Ltd.	8,220	372,701
DLF Ltd.	77,775	497,232
Dr Reddy's Laboratories Ltd. ADR	18,580	1,242,445
Eicher Motors Ltd.	13,104	543,932
Godrej Consumer Products Ltd. (a)	41,279	492,915
HCL Technologies Ltd.	84,541	1,257,101
HDFC Bank Ltd.	168,206	3,091,630
HDFC Life Insurance Co. Ltd. (d)	63,366	486,379
Hero MotoCorp Ltd.	11,969	440,651
Hindalco Industries Ltd.	116,215	689,456
Hindustan Petroleum Corp. Ltd. (a)	67,312	206,659
Hindustan Unilever Ltd.	74,217	2,203,597
ICICI Bank Ltd. ADR	153,434	3,547,394
ICICI Lombard General Insurance Co. Ltd. (d)	22,543	355,500
Indian Oil Corp. Ltd.	207,077	226,799
Indraprastha Gas Ltd.	23,213	127,147
Info Edge India Ltd.	8,794	441,102
Infosys Ltd. ADR (b)	254,741	4,358,618
InterGlobe Aviation Ltd. (a)(d)	9,017	258,562
ITC Ltd.	197,549	1,057,195
JSW Steel Ltd.	56,970	534,840
Jubilant Foodworks Ltd.	57,411	368,561
Kotak Mahindra Bank Ltd.	36,704	767,175
Larsen & Toubro Ltd.	26,624	969,386
LTIMindtree Ltd. (d)	9,833	616,904
Lupin Ltd.	24,080	339,635
Mahindra & Mahindra Ltd. GDR (c)	57,156	1,077,391
Marico Ltd.	100,445	679,360
Maruti Suzuki India Ltd.	7,599	970,963
Muthoot Finance Ltd.	16,188	244,064
Nestle India Ltd.	4,377	1,186,310
Petronet LNG Ltd.	155,774	450,113
PI Industries Ltd.	6,386	265,541
Power Grid Corp. of India Ltd.	215,901	519,336
Reliance Industries Ltd. GDR (d)	105,035	5,871,456

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Samvardhana Motherson International Ltd.	105,198	$ 121,614
SBI Life Insurance Co. Ltd. (d)	36,083	567,221
Shree Cement Ltd.	2,118	649,495
Shriram Finance Ltd.	32,100	741,934
State Bank of India	116,357	838,685
Sun Pharmaceutical Industries Ltd.	59,035	823,698
Tata Consultancy Services Ltd.	53,823	2,287,054
Tata Consumer Products Ltd.	35,429	374,124
Tata Motors Ltd.	107,648	816,941
Tata Power Co. Ltd.	77,453	244,649
Tata Steel Ltd.	412,214	639,855
Tech Mahindra Ltd.	43,352	638,367
Titan Co. Ltd.	8,149	308,998
Torrent Pharmaceuticals Ltd.	2,218	51,525
Trent Ltd.	12,121	303,626
Tube Investments of India Ltd.	5,398	194,251
UltraTech Cement Ltd.	7,060	701,811
United Spirits Ltd. (a)	54,428	660,185
UPL Ltd.	45,203	335,452
Vedanta Ltd.	44,852	120,203
Wipro Ltd.	85,473	417,941
Yes Bank Ltd. (a)	1,007,114	209,206
Zomato Ltd. (a)	308,948	377,622
		61,846,023
INDONESIA — 0.6%
Adaro Energy Indonesia Tbk PT	1,236,800	228,074
Astra International Tbk PT	1,900,800	765,608
Bank Central Asia Tbk PT	3,257,000	1,859,788
Bank Mandiri Persero Tbk PT	3,095,800	1,206,871
Bank Rakyat Indonesia Persero Tbk PT	5,657,376	1,912,636
Barito Pacific Tbk PT	527,247	44,349
Charoen Pokphand Indonesia Tbk PT (a)	1,168,400	410,131
GoTo Gojek Tokopedia Tbk PT (a)	44,502,800	244,758
Indah Kiat Pulp & Paper Tbk PT	151,800	109,025
Merdeka Copper Gold Tbk PT (a)	474,553	88,432
Telkom Indonesia Persero Tbk PT	4,713,700	1,143,732
United Tractors Tbk PT	208,800	381,663
		8,395,067
IRELAND — 0.2%
Bank of Ireland Group PLC	36,586	359,852
Kerry Group PLC Class A	16,363	1,371,740
Kingspan Group PLC	2,981	223,959

Security Description	Shares	Value
Smurfit Kappa Group PLC	17,046	$ 569,578
		2,525,129
ISRAEL — 0.4%
Bank Hapoalim BM	188,428	1,677,390
Bank Leumi Le-Israel BM	204,027	1,688,703
Check Point Software Technologies Ltd. (a)	5,965	795,015
Nice Ltd. (a)	6,913	1,171,415
Teva Pharmaceutical Industries Ltd. ADR (a)	70,896	723,139
Wix.com Ltd. (a)	3,741	343,424
		6,399,086
ITALY — 1.3%
Assicurazioni Generali SpA	87,966	1,803,540
Coca-Cola HBC AG	12,755	350,127
DiaSorin SpA	606	55,447
Enel SpA	502,220	3,094,642
Eni SpA	173,063	2,795,364
Ferrari NV	11,620	3,441,058
FinecoBank Banca Fineco SpA	1,318	16,068
Intesa Sanpaolo SpA	906,042	2,340,624
Mediobanca Banca di Credito Finanziario SpA	60,201	798,635
Snam SpA	170,593	803,558
Telecom Italia SpA (a)(b)	605,444	189,804
UniCredit SpA	116,157	2,795,363
		18,484,230
JAPAN — 14.8%
Advantest Corp.	33,200	930,201
Aeon Co. Ltd.	56,000	1,111,744
AGC, Inc.	22,200	780,143
Aisin Corp. (b)	14,200	537,644
Ajinomoto Co., Inc.	21,400	826,601
Asahi Group Holdings Ltd.	42,800	1,603,297
Asahi Intecc Co. Ltd.	4,200	75,655
Asahi Kasei Corp.	131,300	826,999
Astellas Pharma, Inc.	156,900	2,180,671
Bandai Namco Holdings, Inc.	12,900	262,971
Bridgestone Corp.	45,500	1,777,313
Canon, Inc.	72,700	1,756,298
Capcom Co. Ltd.	6,800	245,388
Central Japan Railway Co.	46,000	1,120,523
Chiba Bank Ltd.	124,400	906,584
Chubu Electric Power Co., Inc.	72,900	931,615
Chugai Pharmaceutical Co. Ltd.	30,900	957,491
Concordia Financial Group Ltd.	170,900	780,488
CyberAgent, Inc. (b)	11,800	63,758
Dai-ichi Life Holdings, Inc.	53,600	1,112,409
Daiichi Sankyo Co. Ltd.	118,200	3,252,332
Daikin Industries Ltd.	15,600	2,454,079

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Daiwa House REIT Investment Corp.	64	$ 113,139
Daiwa Securities Group, Inc. (b)	182,300	1,054,402
Denso Corp.	150,800	2,426,341
Dentsu Group, Inc.	2,200	64,868
Disco Corp.	1,400	258,750
East Japan Railway Co.	22,400	1,284,182
Eisai Co. Ltd.	16,600	923,749
ENEOS Holdings, Inc.	276,108	1,091,480
FANUC Corp.	72,200	1,883,562
Fast Retailing Co. Ltd.	12,300	2,686,259
FUJIFILM Holdings Corp.	33,800	1,961,068
Fujitsu Ltd. (b)	15,500	1,828,112
GLP J-REIT	220	197,112
GMO Payment Gateway, Inc.	2,300	126,032
Hitachi Ltd.	69,300	4,307,304
Honda Motor Co. Ltd.	301,800	3,401,760
Hoya Corp.	27,100	2,783,096
Idemitsu Kosan Co. Ltd.	12,500	287,988
Inpex Corp.	72,300	1,093,039
ITOCHU Corp.	88,300	3,198,859
Japan Exchange Group, Inc.	32,300	600,437
Japan Metropolitan Fund Invest REIT	1,144	743,629
Japan Real Estate Investment Corp. REIT	205	800,905
Japan Tobacco, Inc.	73,000	1,682,828
JFE Holdings, Inc.	31,800	466,904
JSR Corp.	34,800	936,784
Kajima Corp.	76,200	1,242,638
Kansai Electric Power Co., Inc.	78,800	1,097,048
Kao Corp.	37,800	1,406,117
KDDI Corp.	113,000	3,465,914
Keyence Corp.	10,900	4,053,945
Kintetsu Group Holdings Co. Ltd.	29,000	823,602
Kirin Holdings Co. Ltd.	12,700	178,128
Komatsu Ltd.	73,800	1,999,487
Kose Corp.	2,200	160,033
Kubota Corp.	100,600	1,485,826
Kyocera Corp.	38,900	1,977,781
Lasertec Corp.	4,100	639,350
Lixil Corp. (b)	39,200	457,476
M3, Inc.	26,500	482,319
Makita Corp.	29,000	717,494
Marubeni Corp.	159,300	2,489,446
Mazda Motor Corp.	15,600	177,352
McDonald's Holdings Co. Japan Ltd. (b)	2,400	91,834
MEIJI Holdings Co. Ltd.	6,400	159,373
Mitsubishi Chemical Group Corp.	148,400	937,488
Mitsubishi Corp.	93,200	4,451,865
Mitsubishi Electric Corp.	171,300	2,122,524
Mitsubishi Estate Co. Ltd.	123,318	1,615,592

Security Description	Shares	Value
Mitsubishi Heavy Industries Ltd.	30,800	$ 1,722,612
Mitsubishi UFJ Financial Group, Inc.	727,900	6,187,577
Mitsui & Co. Ltd.	105,800	3,844,888
Mitsui Chemicals, Inc.	31,100	808,006
Mitsui Fudosan Co. Ltd.	22,500	496,666
Mizuho Financial Group, Inc.	77,980	1,327,842
MonotaRO Co. Ltd.	12,300	131,923
MS&AD Insurance Group Holdings, Inc.	49,800	1,833,815
Murata Manufacturing Co. Ltd.	149,700	2,742,703
NEC Corp.	18,500	1,024,148
Nexon Co. Ltd.	23,700	424,607
NIDEC Corp.	33,500	1,555,962
Nintendo Co. Ltd.	72,100	3,010,106
Nippon Building Fund, Inc. REIT	38	154,317
Nippon Paint Holdings Co. Ltd.	33,000	222,469
Nippon Prologis REIT, Inc.	177	331,167
Nippon Steel Corp. (b)	52,600	1,235,470
Nippon Telegraph & Telephone Corp.	2,267,600	2,683,586
Nippon Yusen KK	42,600	1,109,356
Nissan Motor Co. Ltd.	179,400	793,820
Nitori Holdings Co. Ltd.	4,100	459,112
Nitto Denko Corp. (b)	16,500	1,084,483
Nomura Holdings, Inc.	209,300	840,286
Nomura Real Estate Master Fund, Inc. REIT	79	88,622
Nomura Research Institute Ltd.	11,400	297,405
NTT Data Group Corp.	84,100	1,129,693
Obayashi Corp.	134,000	1,182,181
Obic Co. Ltd.	2,200	334,441
Olympus Corp.	51,900	675,248
Ono Pharmaceutical Co. Ltd.	21,600	415,137
Oriental Land Co. Ltd.	45,800	1,506,666
ORIX Corp.	114,600	2,144,934
Osaka Gas Co. Ltd.	62,100	1,024,562
Otsuka Holdings Co. Ltd.	15,600	555,422
Panasonic Holdings Corp.	187,300	2,111,165
Rakuten Group, Inc.	51,000	209,537
Recruit Holdings Co. Ltd.	73,100	2,257,785
Renesas Electronics Corp. (a)	37,100	568,216
Resona Holdings, Inc.	56,400	313,058
Rohm Co. Ltd.	59,600	1,125,101
SBI Holdings, Inc.	16,800	354,407
Secom Co. Ltd.	16,600	1,127,988
Seven & i Holdings Co. Ltd.	57,200	2,244,302
SG Holdings Co. Ltd.	11,800	151,429
Sharp Corp. (a)(b)	36,500	227,964
Shimano, Inc.	2,900	391,881
Shin-Etsu Chemical Co. Ltd.	133,700	3,891,165

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Shionogi & Co. Ltd.	15,600	$ 698,955
Shiseido Co. Ltd.	19,700	693,081
Shizuoka Financial Group, Inc.	114,600	936,153
SMC Corp.	4,200	1,885,180
SoftBank Corp.	8,500	96,292
SoftBank Group Corp.	72,300	3,069,328
Sompo Holdings, Inc. (b)	33,900	1,461,409
Sony Group Corp.	83,800	6,873,594
Subaru Corp.	20,300	395,321
Sumitomo Chemical Co. Ltd.	185,200	505,119
Sumitomo Corp.	65,800	1,315,780
Sumitomo Electric Industries Ltd.	73,000	881,283
Sumitomo Mitsui Financial Group, Inc.	57,800	2,845,747
Sumitomo Mitsui Trust Holdings, Inc.	16,500	622,627
Suzuki Motor Corp.	15,700	632,945
Sysmex Corp.	11,600	554,483
T&D Holdings, Inc.	39,600	654,936
Takeda Pharmaceutical Co. Ltd.	106,799	3,321,522
TDK Corp.	42,700	1,585,816
Terumo Corp.	64,500	1,712,940
Tokio Marine Holdings, Inc.	137,900	3,202,034
Tokyo Electric Power Co. Holdings, Inc. (a)	129,300	579,500
Tokyo Electron Ltd.	30,600	4,191,416
Tokyo Gas Co. Ltd.	39,900	906,691
Tokyu Corp.	90,000	1,039,772
TOPPAN, Inc.	56,400	1,351,181
Toray Industries, Inc.	187,100	975,465
Toshiba Corp. (a)	30,400	937,720
Toyota Motor Corp.	662,100	11,879,864
Toyota Tsusho Corp.	30,700	1,809,392
Unicharm Corp.	15,600	553,122
Welcia Holdings Co. Ltd.	1,400	24,238
West Japan Railway Co.	16,300	675,594
Yakult Honsha Co. Ltd.	6,800	165,551
Yamaha Corp.	24,000	657,155
Yamaha Motor Co. Ltd.	36,800	969,414
Z Holdings Corp.	245,900	684,681
ZOZO, Inc. (b)	10,800	198,485
		212,826,441
KUWAIT — 0.2%
Agility Public Warehousing Co. KSC (a)	27,227	49,159
Boubyan Bank KSCP	447,471	874,527
Kuwait Finance House KSCP	163,822	388,551
Mabanee Co. KPSC	196,572	524,743
Mobile Telecommunications Co. KSCP	167,207	263,484
		2,100,464

Security Description	Shares	Value
LUXEMBOURG — 0.1%
ArcelorMittal SA	30,312	$ 763,007
Eurofins Scientific SE	3,734	211,505
		974,512
MACAU — 0.1%
Galaxy Entertainment Group Ltd.	143,000	860,901
Sands China Ltd. (a)	206,000	631,269
		1,492,170
MALAYSIA — 0.3%
AMMB Holdings Bhd	221,500	174,549
CIMB Group Holdings Bhd	528,899	611,665
Dialog Group Bhd	930,200	420,004
Genting Bhd	199,600	177,271
Genting Malaysia Bhd	584,200	311,059
Hong Leong Financial Group Bhd	40,839	153,954
Malaysia Airports Holdings Bhd	200,613	304,642
Nestle Malaysia Bhd	12,300	331,388
Petronas Chemicals Group Bhd	16,700	25,573
Petronas Dagangan Bhd	71,700	341,759
PPB Group Bhd	144,940	477,860
Press Metal Aluminium Holdings Bhd	233,500	234,234
Public Bank Bhd	549,200	474,895
QL Resources Bhd	35,700	41,515
RHB Bank Bhd	133,012	153,827
Tenaga Nasional Bhd	169,500	360,642
		4,594,837
MEXICO — 0.7%
America Movil SAB de CV	2,711,063	2,354,055
Cemex SAB de CV Series CPO (a)	1,583,099	1,035,753
Fomento Economico Mexicano SAB de CV	197,740	2,165,656
Grupo Financiero Banorte SAB de CV Class O	231,315	1,944,784
Grupo Mexico SAB de CV Class B	221,307	1,050,471
Grupo Televisa SAB Series CPO	278,449	169,680
Industrias Penoles SAB de CV (a)(b)	15,904	188,018
Kimberly-Clark de Mexico SAB de CV Class A	310,638	620,257
Wal-Mart de Mexico SAB de CV	294,619	1,112,122
		10,640,796
NETHERLANDS — 3.5%
Adyen NV (a)(d)	1,320	986,251
Akzo Nobel NV	19,030	1,379,736
Argenx SE (a)	2,797	1,363,986
ASM International NV	1,726	726,393

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
ASML Holding NV	25,953	$ 15,362,804
Ferrovial SE	47,950	1,470,722
Heineken NV	23,994	2,120,189
ING Groep NV	232,338	3,087,148
Koninklijke Ahold Delhaize NV	81,598	2,463,897
Koninklijke KPN NV	428,415	1,414,730
Koninklijke Philips NV (b)	78,457	1,575,436
Shell PLC	442,184	14,064,778
Universal Music Group NV (b)	73,752	1,931,040
Wolters Kluwer NV	24,259	2,944,695
		50,891,805
NEW ZEALAND — 0.1%
Fisher & Paykel Healthcare Corp. Ltd. Class C	26,857	348,237
Meridian Energy Ltd.	222,498	687,156
Spark New Zealand Ltd.	171,268	494,980
Xero Ltd. (a)	6,018	436,680
		1,967,053
NORWAY — 0.4%
DNB Bank ASA	99,110	2,008,121
Equinor ASA	78,211	2,580,977
Norsk Hydro ASA	143,605	906,907
Telenor ASA	73,347	837,495
		6,333,500
PERU — 0.1%
Cia de Minas Buenaventura SAA ADR	18,443	157,134
Credicorp Ltd.	7,109	909,739
		1,066,873
PHILIPPINES — 0.1%
Ayala Corp.	7,480	82,500
Ayala Land, Inc.	464,600	241,842
BDO Unibank, Inc.	91,504	229,504
International Container Terminal Services, Inc.	25,600	93,756
JG Summit Holdings, Inc.	242,551	163,341
Jollibee Foods Corp.	83,020	336,623
PLDT, Inc. ADR (b)	15,502	320,271
SM Investments Corp.	2,750	41,000
SM Prime Holdings, Inc.	514,100	275,333
Universal Robina Corp.	78,650	165,291
		1,949,461
POLAND — 0.1%
Allegro.eu SA (a)(d)	14,522	107,242
CD Projekt SA	6,543	187,669
LPP SA	48	142,954
mBank SA (a)	1,421	128,686
ORLEN SA	17,478	235,039
Powszechna Kasa Oszczednosci Bank Polski SA (a)	47,297	376,204

Security Description	Shares	Value
Santander Bank Polska SA (a)	3,570	$ 294,430
		1,472,224
PORTUGAL — 0.1%
EDP - Energias de Portugal SA	173,384	722,533
Jeronimo Martins SGPS SA	20,270	456,258
		1,178,791
QATAR — 0.2%
Commercial Bank PSQC	290,463	430,907
Qatar Electricity & Water Co. QSC	181,888	877,460
Qatar Islamic Bank SAQ	118,626	604,862
Qatar National Bank QPSC	270,777	1,145,595
		3,058,824
ROMANIA — 0.0% (f)
NEPI Rockcastle NV	30,208	166,919
RUSSIA — 0.0%
Gazprom PJSC ADR (a)(e)	471,490	—
LUKOIL PJSC (e)	44,561	—
MMC Norilsk Nickel PJSC ADR (a)(e)	45,503	—
Mobile TeleSystems PJSC ADR (a)(e)	100,152	—
Novatek PJSC GDR (a)(e)	6,921	—
Sberbank of Russia PJSC (e)	544,444	—
Surgutneftegas PJSC Preference Shares ADR (a)(e)	139,649	—
Tatneft PJSC ADR (a)(e)	38,413	—
TCS Group Holding PLC GDR (a)(e)	7,745	—
Yandex NV Class A (a)(e)	23,001	—
		—
SAUDI ARABIA — 1.0%
Advanced Petrochemical Co.	25,038	267,708
Al Rajhi Bank	108,480	1,963,975
Alinma Bank	48,242	429,624
Arab National Bank	30,314	193,986
Bank AlBilad	86,499	975,592
Bank Al-Jazira (a)	15,422	69,082
Banque Saudi Fransi	31,210	303,741
Bupa Arabia for Cooperative Insurance Co.	19,739	1,094,725
Dar Al Arkan Real Estate Development Co. (a)	74,246	311,994
Dr Sulaiman Al Habib Medical Services Group Co.	8,477	532,518
Etihad Etisalat Co.	56,441	670,439
Jarir Marketing Co.	247,836	958,184
Mobile Telecommunications Co. Saudi Arabia	146,428	513,803
Rabigh Refining & Petrochemical Co. (a)	176,197	509,266

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Riyad Bank	74,761	$ 553,165
SABIC Agri-Nutrients Co.	11,307	400,973
Sahara International Petrochemical Co.	16,494	166,240
Saudi Arabian Mining Co. (a)	82,200	884,366
Saudi Awwal Bank	46,274	425,670
Saudi Electricity Co.	79,259	402,799
Saudi Industrial Investment Group	28,581	181,067
Saudi Kayan Petrochemical Co. (a)	31,738	105,781
Saudi National Bank	157,997	1,381,781
Saudi Research & Media Group (a)	3,083	135,142
Saudi Telecom Co.	81,661	818,689
Savola Group	32,113	308,676
		14,558,986
SINGAPORE — 1.1%
CapitaLand Ascendas REIT	79,900	160,982
CapitaLand Integrated Commercial Trust REIT	137,640	186,559
CapitaLand Investment Ltd.	394,656	896,354
DBS Group Holdings Ltd.	183,368	4,519,378
Grab Holdings Ltd. Class A (a)	102,564	363,077
Mapletree Logistics Trust REIT	165,282	203,439
Sea Ltd. ADR (a)	21,596	949,144
Singapore Exchange Ltd.	216,800	1,548,685
Singapore Telecommunications Ltd.	803,500	1,424,625
STMicroelectronics NV	40,995	1,778,891
United Overseas Bank Ltd.	183,929	3,840,557
		15,871,691
SOUTH AFRICA — 1.0%
Absa Group Ltd.	28,332	262,921
Anglo American Platinum Ltd.	5,587	209,359
Anglo American PLC	88,038	2,434,387
Aspen Pharmacare Holdings Ltd. (b)	32,763	298,807
Bid Corp. Ltd. (b)	21,962	492,237
Bidvest Group Ltd. (b)	26,736	387,117
Capitec Bank Holdings Ltd.	7,039	641,276
Discovery Ltd. (a)	75,772	551,657
Exxaro Resources Ltd. (b)	19,782	181,005
FirstRand Ltd.	339,146	1,149,605
Gold Fields Ltd. (b)	72,243	787,297
Harmony Gold Mining Co. Ltd.	23,360	88,062
Impala Platinum Holdings Ltd. (b)	41,191	216,150
MTN Group Ltd.	118,848	711,912
Naspers Ltd. Class N	12,449	1,999,271
Nedbank Group Ltd.	17,640	189,449
Old Mutual Ltd.	216,581	136,668
Remgro Ltd.	36,635	288,772

Security Description	Shares	Value
Sanlam Ltd.	215,040	$ 749,582
Sasol Ltd.	32,347	448,168
Sibanye Stillwater Ltd. (b)	143,624	222,838
Standard Bank Group Ltd.	105,362	1,027,480
Woolworths Holdings Ltd. (b)	58,734	211,468
		13,685,488
SOUTH KOREA — 3.5%
Amorepacific Corp.	1,562	141,221
BGF retail Co. Ltd.	843	88,086
Celltrion Healthcare Co. Ltd.	4,976	232,317
Celltrion Pharm, Inc. (a)	1,487	73,612
Celltrion, Inc.	8,217	847,641
CJ CheilJedang Corp.	2,170	493,694
CosmoAM&T Co. Ltd. (a)	1,604	177,588
Coway Co. Ltd.	3,386	103,633
Delivery Hero SE (a)(d)	8,619	247,936
Doosan Enerbility Co. Ltd. (a)	24,176	294,362
Ecopro BM Co. Ltd.	3,027	567,534
Hana Financial Group, Inc.	25,771	810,715
Hanmi Pharm Co. Ltd.	499	110,568
Hanwha Solutions Corp. (a)	3,856	85,013
HD Hyundai Co. Ltd.	9,877	485,286
HD Korea Shipbuilding & Offshore Engineering Co. Ltd. (a)	5,017	412,692
HLB, Inc. (a)	8,690	193,197
HMM Co. Ltd.	16,398	197,593
Hotel Shilla Co. Ltd.	3,656	229,482
HYBE Co. Ltd. (a)	1,162	204,947
Hyundai Engineering & Construction Co. Ltd.	3,004	80,699
Hyundai Mobis Co. Ltd.	4,152	740,000
Hyundai Motor Co.	11,436	1,619,549
Hyundai Steel Co.	7,087	199,837
Kakao Corp.	19,085	621,599
KakaoBank Corp.	6,625	114,639
Kakaopay Corp. (a)	2,439	73,654
KB Financial Group, Inc.	32,550	1,333,937
Kia Corp.	21,352	1,288,019
Korea Aerospace Industries Ltd.	8,316	300,742
Korea Electric Power Corp. ADR (a)(b)	44,664	287,636
Korea Zinc Co. Ltd.	1,246	467,227
Korean Air Lines Co. Ltd.	7,601	122,515
Krafton, Inc. (a)	1,110	123,882
KT&G Corp.	12,407	793,482
L&F Co. Ltd.	1,726	221,794
LG Chem Ltd.	2,717	999,697
LG Chem Ltd. Preference Shares	627	144,971
LG Electronics, Inc.	11,220	838,964
LG Energy Solution Ltd. (a)	2,357	832,304
LG H&H Co. Ltd.	1,107	366,293
LG Innotek Co. Ltd.	191	34,608
Lotte Chemical Corp.	2,404	244,248

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
NAVER Corp.	11,373	$ 1,698,280
NCSoft Corp.	1,855	305,867
Pearl Abyss Corp. (a)	4,155	143,488
POSCO Future M Co. Ltd.	1,994	531,231
POSCO Holdings, Inc. ADR (b)	22,578	2,314,245
Posco International Corp.	3,116	164,875
Samsung Biologics Co. Ltd. (a)(d)	724	365,380
Samsung C&T Corp.	4,819	384,263
Samsung Electro-Mechanics Co. Ltd.	2,990	304,451
Samsung Electronics Co. Ltd. GDR	12,735	16,046,100
Samsung Electronics Co. Ltd. Preference Shares	29,013	1,171,786
Samsung Fire & Marine Insurance Co. Ltd.	4,595	887,059
Samsung Heavy Industries Co. Ltd. (a)	46,295	268,974
Samsung SDI Co. Ltd.	2,976	1,129,177
Samsung SDS Co. Ltd.	1,886	188,963
Samsung Securities Co. Ltd.	25,035	681,811
Shinhan Financial Group Co. Ltd.	36,473	962,234
SK Bioscience Co. Ltd. (a)	1,688	84,688
SK Hynix, Inc.	37,733	3,207,333
SK Innovation Co. Ltd. (a)	4,735	522,134
SK Square Co. Ltd. (a)	4,025	126,620
SK, Inc.	3,387	366,963
		49,703,335
SPAIN — 1.7%
ACS Actividades de Construccion y Servicios SA	25,511	920,223
Aena SME SA (d)	965	145,694
Amadeus IT Group SA	23,129	1,402,663
Banco Bilbao Vizcaya Argentaria SA	400,787	3,271,609
Banco Santander SA	1,019,770	3,906,828
CaixaBank SA	100,783	403,981
Cellnex Telecom SA (a)(d)	23,753	829,146
Iberdrola SA	476,156	5,341,259
Industria de Diseno Textil SA	87,377	3,264,692
Naturgy Energy Group SA (b)	28,229	769,901
Repsol SA	118,042	1,945,891
Telefonica SA (b)	399,231	1,634,949
		23,836,836
SWEDEN — 1.8%
Assa Abloy AB Class B	98,805	2,166,322
Atlas Copco AB Class B	327,616	3,865,942
Epiroc AB Class B	81,903	1,320,797
EQT AB	14,734	294,159
Essity AB Class B	10,468	227,297
Evolution AB (d)	10,684	1,088,049

Security Description	Shares	Value
H & M Hennes & Mauritz AB Class B	69,741	$ 997,951
Hexagon AB Class B	58,267	500,817
Husqvarna AB Class B (b)	115,717	891,933
Industrivarden AB Class A	2,081	55,319
Investor AB Class B	89,512	1,728,578
Lifco AB Class B	6,366	112,475
Nibe Industrier AB Class B	76,726	507,071
Sandvik AB	92,538	1,717,168
Securitas AB Class B	97,338	776,432
Skandinaviska Enskilda Banken AB Class A	110,024	1,323,120
Skanska AB Class B	61,320	1,015,961
SKF AB Class B	40,324	676,075
Svenska Handelsbanken AB Class A	135,138	1,213,533
Swedbank AB Class A	67,030	1,241,982
Tele2 AB Class B	67,768	521,974
Telefonaktiebolaget LM Ericsson Class B (b)	257,818	1,265,573
Telia Co. AB (b)	148,743	309,008
Volvo AB Class B	105,797	2,196,922
Volvo Car AB Class B	33,802	138,267
		26,152,725
SWITZERLAND — 3.9%
ABB Ltd.	155,316	5,568,829
Adecco Group AG	15,244	629,223
Alcon, Inc.	32,819	2,545,015
Cie Financiere Richemont SA Class A	37,411	4,580,271
DSM-Firmenich AG	16,653	1,412,801
Geberit AG	4,144	2,079,248
Givaudan SA	826	2,703,371
Julius Baer Group Ltd.	13,675	879,876
Kuehne & Nagel International AG	5,984	1,707,285
Logitech International SA	5,846	404,389
Lonza Group AG	4,894	2,276,876
Novartis AG	135,059	13,858,754
Partners Group Holding AG	139	157,188
SGS SA	18,316	1,542,084
Sika AG	8,797	2,241,562
Sonova Holding AG	2,245	534,255
Swatch Group AG Bearer Shares	4,326	1,113,184
Temenos AG	4,303	303,016
UBS Group AG	228,921	5,677,982
VAT Group AG (d)	309	111,129
Zurich Insurance Group AG	11,945	5,485,455
		55,811,793
TAIWAN — 4.0%
Accton Technology Corp.	58,000	885,798
Acer, Inc.	418,000	470,049
Advantech Co. Ltd.	40,644	434,385

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
ASE Technology Holding Co. Ltd.	203,000	$ 688,605
Asustek Computer, Inc.	36,000	409,287
AUO Corp. ADR	121,158	630,022
Catcher Technology Co. Ltd.	43,000	243,103
Cathay Financial Holding Co. Ltd.	259,109	357,594
Chailease Holding Co. Ltd.	94,943	532,355
China Airlines Ltd.	195,000	128,065
China Development Financial Holding Corp. (a)	740,742	270,775
China Steel Corp.	671,000	524,860
Chunghwa Telecom Co. Ltd. ADR (b)	47,541	1,708,624
Compal Electronics, Inc.	236,000	224,445
CTBC Financial Holding Co. Ltd.	621,558	471,745
Delta Electronics, Inc.	163,785	1,646,450
E Ink Holdings, Inc.	56,000	311,395
E.Sun Financial Holding Co. Ltd.	1,323,162	993,996
Eclat Textile Co. Ltd.	18,650	281,363
eMemory Technology, Inc.	7,000	436,951
Eva Airways Corp.	190,000	175,106
Evergreen Marine Corp. Taiwan Ltd.	68,400	245,795
Far EasTone Telecommunications Co. Ltd.	87,000	195,936
Feng TAY Enterprise Co. Ltd.	60,665	343,913
First Financial Holding Co. Ltd.	149,350	122,837
Formosa Plastics Corp.	385,000	951,751
Fubon Financial Holding Co. Ltd.	511,207	961,270
Giant Manufacturing Co. Ltd.	91,190	504,249
Global Unichip Corp.	7,000	295,999
Globalwafers Co. Ltd.	28,000	393,364
Hon Hai Precision Industry Co. Ltd. GDR	572,176	3,644,761
Hotai Motor Co. Ltd.	14,280	289,754
Innolux Corp. (a)	679,870	276,956
Inventec Corp.	167,000	253,497
Largan Precision Co. Ltd.	7,000	462,973
Lite-On Technology Corp.	117,000	440,374
MediaTek, Inc.	112,000	2,550,146
Mega Financial Holding Co. Ltd.	275,425	321,665
Micro-Star International Co. Ltd.	79,000	401,357
momo.com, Inc.	6,600	102,638
Nan Ya Printed Circuit Board Corp.	21,000	173,371
Novatek Microelectronics Corp.	45,000	589,675
Pegatron Corp.	48,000	113,902
PharmaEssentia Corp. (a)	20,000	208,175

Security Description	Shares	Value
Pou Chen Corp.	127,000	$ 112,717
President Chain Store Corp.	35,000	284,615
Quanta Computer, Inc.	155,000	1,149,998
Realtek Semiconductor Corp.	42,000	513,933
Ruentex Development Co. Ltd.	177,636	193,702
Taishin Financial Holding Co. Ltd.	1,052,003	583,351
Taiwan Cooperative Financial Holding Co. Ltd.	90,300	71,612
Taiwan High Speed Rail Corp.	368,000	341,432
Taiwan Mobile Co. Ltd.	69,000	202,209
Taiwan Semiconductor Manufacturing Co. Ltd. ADR	271,746	23,614,727
Unimicron Technology Corp.	86,000	462,230
Uni-President Enterprises Corp.	414,000	899,038
United Microelectronics Corp. ADR (b)	251,655	1,776,684
Vanguard International Semiconductor Corp.	97,000	204,334
Voltronic Power Technology Corp.	5,000	245,504
Walsin Lihwa Corp.	124,000	141,361
Wan Hai Lines Ltd.	51,635	77,259
Winbond Electronics Corp.	334,000	261,774
Wiwynn Corp.	8,000	370,502
Yageo Corp.	29,583	481,129
Yang Ming Marine Transport Corp.	125,000	175,996
Zhen Ding Technology Holding Ltd.	127,000	387,132
		58,220,570
THAILAND — 0.5%
Advanced Info Service PCL	49,100	307,444
Airports of Thailand PCL (a)	193,700	371,042
Asset World Corp. PCL	2,431,700	260,450
B Grimm Power PCL	276,900	218,630
Bangkok Dusit Medical Services PCL Class F	446,500	328,016
Bangkok Expressway & Metro PCL	754,200	171,915
Bumrungrad Hospital PCL	72,300	532,136
Central Pattana PCL	227,100	394,482
CP ALL PCL NVDR	339,400	563,919
Delta Electronics Thailand PCL	275,000	624,957
Electricity Generating PCL	64,500	214,336
Energy Absolute PCL	146,600	205,331
Global Power Synergy PCL Class F	103,500	127,199
Gulf Energy Development PCL	203,120	253,813
Home Product Center PCL	222,900	76,519
Indorama Ventures PCL	136,200	97,252

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Land & Houses PCL	92,400	$ 19,793
Minor International PCL	431,209	370,073
Muangthai Capital PCL	193,800	191,605
Osotspa PCL	123,100	84,518
PTT Global Chemical PCL	111,000	105,170
PTT Oil & Retail Business PCL	44,100	22,648
PTT PCL	1,080,920	994,461
Ratch Group PCL	319,700	276,568
SCB X PCL NVDR	111,200	313,024
Siam Cement PCL	27,900	230,632
		7,355,933
TURKEY — 0.2%
Akbank TAS	525,711	641,630
Aselsan Elektronik Sanayi Ve Ticaret AS	416,847	620,367
BIM Birlesik Magazalar AS	21,391	214,339
Ford Otomotiv Sanayi AS	3,630	111,886
Hektas Ticaret TAS (a)	78,200	76,731
Sasa Polyester Sanayi AS (a)	50,063	89,808
Turk Hava Yollari AO (a)	17,978	159,025
Turkiye Is Bankasi AS Class C	705,896	662,767
		2,576,553
UNITED ARAB EMIRATES — 0.4%
Abu Dhabi Commercial Bank PJSC	234,317	551,815
Abu Dhabi Islamic Bank PJSC	238,246	730,360
Aldar Properties PJSC	479,532	751,992
Dubai Islamic Bank PJSC	272,396	433,840
Emaar Properties PJSC	315,968	691,628
Emirates NBD Bank PJSC	86,384	418,626
Emirates Telecommunications Group Co. PJSC	209,481	1,165,732
First Abu Dhabi Bank PJSC	272,620	1,009,415
Multiply Group PJSC (a)	226,149	246,279
		5,999,687
UNITED KINGDOM — 7.4%
3i Group PLC	97,415	2,464,794
abrdn PLC	215,402	409,480
Admiral Group PLC	491	14,245
Anglogold Ashanti PLC	34,056	550,843
Ashtead Group PLC	15,389	939,528
Associated British Foods PLC	11,353	286,561
AstraZeneca PLC	85,508	11,586,798
Auto Trader Group PLC (d)	61,572	464,137
Aviva PLC	189,535	901,751
BAE Systems PLC	235,253	2,865,063
Barclays PLC	1,082,525	2,100,035
Barratt Developments PLC	42,338	227,941
Berkeley Group Holdings PLC	3,456	173,242
BP PLC	1,197,723	7,768,432

Security Description	Shares	Value
British American Tobacco PLC	137,178	$ 4,314,737
BT Group PLC (b)	534,250	760,976
Burberry Group PLC	41,207	959,884
CK Hutchison Holdings Ltd.	128,032	684,965
CNH Industrial NV	63,762	779,043
Compass Group PLC	143,300	3,498,095
Diageo PLC	151,902	5,625,155
Entain PLC	29,477	335,604
Hargreaves Lansdown PLC	4,763	44,950
HSBC Holdings PLC	1,245,214	9,801,484
Imperial Brands PLC	71,208	1,448,838
InterContinental Hotels Group PLC	12,109	897,715
J Sainsbury PLC	189,336	584,206
Kingfisher PLC	58,816	160,302
Land Securities Group PLC REIT	95,402	686,780
Legal & General Group PLC	85,880	233,226
Lloyds Banking Group PLC	3,832,969	2,075,775
London Stock Exchange Group PLC	20,273	2,037,438
M&G PLC	130,049	313,177
National Grid PLC	266,094	3,182,853
NatWest Group PLC	193,820	557,588
Next PLC	14,160	1,260,966
Ocado Group PLC (a)	31,189	228,559
Pearson PLC	78,239	829,275
Persimmon PLC	13,880	182,542
Reckitt Benckiser Group PLC	44,288	3,131,987
RELX PLC (c)	124,263	4,208,819
RELX PLC (c)	33,488	1,136,346
Rentokil Initial PLC	54,804	408,169
Rolls-Royce Holdings PLC (a)	593,607	1,600,480
Sage Group PLC	171,573	2,071,098
Segro PLC REIT	95,217	836,066
Severn Trent PLC	35,412	1,022,203
Smith & Nephew PLC	94,748	1,183,045
Smiths Group PLC	28,344	560,270
SSE PLC	100,611	1,977,092
Standard Chartered PLC	184,581	1,707,700
Taylor Wimpey PLC	167,778	240,209
Tesco PLC	399,587	1,288,545
Unilever PLC	166,169	8,238,447
United Utilities Group PLC	83,151	962,327
Vodafone Group PLC	1,614,447	1,513,748
Whitbread PLC	18,293	773,425
Wise PLC Class A (a)	16,784	140,450
WPP PLC	101,289	906,195
		106,143,604
UNITED STATES — 5.1%
CRH PLC	60,610	3,360,059
CSL Ltd.	30,016	4,858,579
CyberArk Software Ltd. (a)	1,890	309,525
Experian PLC	72,013	2,365,266

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
GSK PLC	258,468	$ 4,706,858
Haleon PLC	323,110	1,344,216
Holcim AG	26,209	1,684,046
James Hardie Industries PLC CDI (a)	54,378	1,431,548
JBS SA	57,652	207,907
Legend Biotech Corp. ADR (a)	2,465	165,574
Monday.com Ltd. (a)	755	120,211
Nestle SA	179,020	20,301,197
Parade Technologies Ltd.	8,000	243,862
QIAGEN NV (a)	231	9,360
Roche Holding AG	46,841	12,823,927
Sanofi	74,579	8,012,913
Schneider Electric SE	39,762	6,608,547
Stellantis NV (c)	56,789	1,094,402
Stellantis NV (c)	74,914	1,444,330
Swiss Re AG	25,076	2,585,448
		73,677,775
ZAMBIA — 0.1%
First Quantum Minerals Ltd.	49,919	1,184,838
TOTAL COMMON STOCKS (Cost $1,485,652,671)		1,429,410,615


RIGHTS — 0.0% (f)
BRAZIL — 0.0% (f)
Localiza Rent a Car SA (expiring 11/30/23) (a)	323	1,032
SOUTH KOREA — 0.0% (f)
CosmoAM&T Co. Ltd. (expiring 11/07/23) (a)	88	1,735
TOTAL RIGHTS (Cost $0)		2,767
WARRANTS — 0.0% (f)
CANADA — 0.0% (f)
Constellation Software, Inc. (expiring 03/31/40) (a)(e)	1,374	—
SHORT-TERM INVESTMENTS — 3.2%
State Street Institutional U.S. Government Money Market Fund, Class G Shares 5.33% (g)(h)	526,781	526,781

Security Description	Shares	Value
State Street Navigator Securities Lending Portfolio II (i)(j)	46,462,476	$ 46,462,476
TOTAL SHORT-TERM INVESTMENTS (Cost $46,989,257)		46,989,257
TOTAL INVESTMENTS — 102.3% (Cost $1,532,641,928)		1,476,402,639
LIABILITIES IN EXCESS OF OTHER ASSETS — (2.3)%		(33,735,508)
NET ASSETS — 100.0%		$ 1,442,667,131

(a)	Non-income producing security.
(b)	All or a portion of the shares of the security are on loan at September 30, 2023.
(c)	Reflects separate holdings of the issuer's common stock traded on different securities exchanges.
(d)	Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 2.0% of net assets as of September 30, 2023, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(e)	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 September 30, 2023, total aggregate fair value of the securities is $0, representing 0.00% of the Fund's net assets.
(f)	Amount is less than 0.05% of net assets.
(g)	The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(h)	The rate shown is the annualized seven-day yield at September 30, 2023.
(i)	The Fund invested in an affiliated entity. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(j)	Investment of cash collateral for securities loaned.

ADR	American Depositary Receipt
CDI	CREST Depository Interest
GDR	Global Depositary Receipt
NVDR	Non-Voting Depositary Receipt
REIT	Real Estate Investment Trust

At September 30, 2023, open futures contracts were as follows:

Description	Number of Contracts	Expiration Date	Notional Amount	Value	Unrealized Appreciation (Depreciation)
S&P/TSX 60 Index (long)	3	12/14/2023	$ 535,815	$ 522,027	$ (13,788)
MSCI EAFE Index (long)	79	12/15/2023	8,273,575	8,063,482	(210,093)

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI ACWI EX-US ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Description	Number of Contracts	Expiration Date	Notional Amount	Value	Unrealized Appreciation (Depreciation)
E-mini MSCI Emerging Markets (long)	73	12/15/2023	3,590,850	3,487,575	(103,275)
					$(327,156)

During the year ended September 30, 2023, average notional value related to futures contracts was $6,037,816.

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of September 30, 2023.

Description	Level 1 – Quoted Prices	Level 2 – Other Significant Observable Inputs	Level 3 – Significant Unobservable Inputs	Total
ASSETS:
INVESTMENTS:
Common Stocks	$1,422,913,825	$6,496,790	$ 0(a)	$1,429,410,615
Rights	1,032	1,735	—	2,767
Warrants	—	—	0(a)	0
Short-Term Investments	46,989,257	—	—	46,989,257
TOTAL INVESTMENTS	$ 1,469,904,114	$6,498,525	$ 0	$1,476,402,639
OTHER FINANCIAL INSTRUMENTS:
Futures Contracts - Unrealized Depreciation	$ (327,156)	$ —	$—	$ (327,156)
TOTAL OTHER FINANCIAL INSTRUMENTS:	$ (327,156)	$ —	$—	$ (327,156)

(a)	The Fund held Level 3 securities that were valued at $0 at September 30, 2023.

Sector Breakdown as of September 30, 2023


		% of Net Assets
	Financials	20.8
	Industrials	13.0
	Consumer Discretionary	12.1
	Information Technology	11.3
	Health Care	9.6
	Consumer Staples	8.3
	Materials	7.6
	Energy	6.1
	Communication Services	5.7
	Utilities	2.9
	Real Estate	1.7
	Short-Term Investments	3.2
	Liabilities in Excess of Other Assets	(2.3)
	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.

Table of Contents

SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF

SCHEDULE OF INVESTMENTS

September 30, 2023

Security Description	Shares	Value
COMMON STOCKS — 99.3%
AUSTRALIA — 5.6%
Ampol Ltd.	3,842	$ 83,811
ANZ Group Holdings Ltd.	49,791	824,587
APA Group Stapled Security	19,604	105,015
Aristocrat Leisure Ltd.	9,701	255,763
ASX Ltd.	3,068	113,103
Aurizon Holdings Ltd.	31,062	69,965
BlueScope Steel Ltd.	7,779	97,600
Brambles Ltd.	22,944	212,051
Cochlear Ltd.	1,059	174,506
Coles Group Ltd.	21,488	215,792
Commonwealth Bank of Australia	27,771	1,791,802
Computershare Ltd.	9,351	156,672
Dexus REIT	16,942	79,821
EBOS Group Ltd. (a)	2,635	54,147
Endeavour Group Ltd.	23,004	78,242
Flutter Entertainment PLC (b)	2,931	480,685
Fortescue Metals Group Ltd.	27,588	372,487
Goodman Group REIT	27,582	381,840
GPT Group REIT	31,442	79,141
IDP Education Ltd. (a)	4,237	58,465
IGO Ltd. (a)	10,997	89,854
Insurance Australia Group Ltd.	39,692	145,506
Lendlease Corp. Ltd. Stapled Security	10,977	50,867
Lottery Corp. Ltd.	36,291	110,553
Macquarie Group Ltd.	6,089	659,152
Medibank Pvt Ltd.	45,573	101,180
Mineral Resources Ltd.	2,831	123,569
Mirvac Group REIT	62,110	85,383
National Australia Bank Ltd.	52,015	975,894
Newcrest Mining Ltd.	14,590	230,890
Northern Star Resources Ltd.	19,009	128,328
Orica Ltd.	7,269	73,139
Pilbara Minerals Ltd. (a)	44,687	124,016
Qantas Airways Ltd. (b)	15,291	51,120
QBE Insurance Group Ltd.	24,268	246,059
Ramsay Health Care Ltd. (a)	2,989	100,062
REA Group Ltd. (a)	889	88,543
Reece Ltd. (a)	3,410	41,001
Scentre Group REIT	84,820	134,667
SEEK Ltd. (a)	5,474	77,971
Sonic Healthcare Ltd.	7,388	142,093
Stockland REIT	37,347	94,487
Suncorp Group Ltd.	20,650	186,185
Telstra Group Ltd.	66,489	165,211
Transurban Group Stapled Security	51,038	418,008
Treasury Wine Estates Ltd.	11,470	91,276
Vicinity Ltd. REIT	63,161	69,095
Wesfarmers Ltd.	18,796	641,241
Westpac Banking Corp.	58,138	793,596
WiseTech Global Ltd.	2,700	113,355

Security Description	Shares	Value
Woolworths Group Ltd.	19,960	$ 480,763
		12,518,559
AUSTRIA — 0.2%
Erste Group Bank AG	5,605	194,763
Mondi PLC	8,031	134,536
Verbund AG	1,079	88,021
voestalpine AG	1,966	53,786
		471,106
BELGIUM — 0.9%
Ageas SA	2,734	112,977
Anheuser-Busch InBev SA	14,391	800,067
D'ieteren Group	399	67,548
Elia Group SA	521	51,107
Groupe Bruxelles Lambert NV	1,565	116,914
KBC Group NV	4,173	261,290
Sofina SA	242	49,142
Solvay SA	1,217	135,099
UCB SA	2,070	169,938
Umicore SA	3,282	78,010
Warehouses De Pauw CVA REIT	2,692	66,808
		1,908,900
BRAZIL — 0.0% (c)
Yara International ASA	2,702	102,917
BURKINA FASO — 0.0% (c)
Endeavour Mining PLC	3,020	58,461
CHILE — 0.1%
Antofagasta PLC	6,675	116,409
CHINA — 0.5%
BOC Hong Kong Holdings Ltd.	60,500	165,698
Budweiser Brewing Co. APAC Ltd. (d)	27,254	53,799
ESR Group Ltd. (d)	32,000	44,945
Prosus NV	25,326	748,644
SITC International Holdings Co. Ltd.	24,000	40,328
Wilmar International Ltd.	30,500	83,350
Xinyi Glass Holdings Ltd.	29,550	38,259
		1,175,023
DENMARK — 3.6%
AP Moller - Maersk AS Class A	49	87,172
AP Moller - Maersk AS Class B	84	151,883
Carlsberg AS Class B	1,618	204,777
Chr Hansen Holding AS	1,683	103,324
Coloplast AS Class B	2,253	239,145
Danske Bank AS	11,243	262,350
Demant AS (b)	1,626	67,550
DSV AS	3,079	576,613
Genmab AS (b)	1,076	383,151
Novo Nordisk AS Class B	53,980	4,934,933
Novozymes AS Class B	3,238	130,886
Orsted AS (d)	3,044	166,436
Pandora AS	1,431	148,643
ROCKWOOL AS Class B	148	35,985

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Tryg AS	5,798	$ 106,482
Vestas Wind Systems AS (b)	16,438	353,723
		7,953,053
FINLAND — 1.2%
Elisa Oyj	2,243	104,229
Fortum Oyj (a)	6,931	80,683
Kesko Oyj Class B	4,361	78,354
Kone Oyj Class B	5,546	234,403
Metso Oyj	10,647	112,207
Neste Oyj (a)	6,901	234,756
Nokia Oyj	87,125	329,125
Nordea Bank Abp (e)	53,059	586,647
Nordea Bank Abp (e)	708	7,805
Orion Oyj Class B	1,749	68,922
Sampo Oyj Class A	7,657	332,219
Stora Enso Oyj Class R	9,485	119,402
UPM-Kymmene Oyj	8,703	299,188
Wartsila Oyj Abp	7,656	87,178
		2,675,118
FRANCE — 9.9%
Accor SA	3,068	103,749
Adevinta ASA (b)	5,026	50,020
Aeroports de Paris SA	488	57,815
Air Liquide SA	8,677	1,468,414
Airbus SE	9,821	1,320,336
Alstom SA	5,171	123,730
Amundi SA (d)	1,013	57,219
Arkema SA	951	94,203
AXA SA	30,405	907,151
BioMerieux	670	65,134
BNP Paribas SA	17,383	1,112,169
Bollore SE	12,224	65,876
Bouygues SA	3,594	126,103
Bureau Veritas SA	4,740	117,984
Capgemini SE	2,732	479,577
Carrefour SA	9,657	166,504
Cie de Saint-Gobain SA	7,664	461,539
Cie Generale des Etablissements Michelin SCA	11,060	340,403
Covivio SA REIT	793	35,347
Credit Agricole SA	19,900	246,340
Danone SA	10,668	590,263
Dassault Aviation SA	398	75,175
Dassault Systemes SE	11,082	414,119
Edenred SE	4,070	255,444
Eiffage SA	1,196	114,014
EssilorLuxottica SA	4,885	854,207
Eurazeo SE	650	38,848
Gecina SA REIT	771	78,977
Getlink SE	5,817	93,059
Hermes International SCA	525	961,499
Ipsen SA	644	84,684
Kering SA	1,235	564,734
Klepierre SA REIT	3,508	86,278
La Francaise des Jeux SAEM (d)	1,678	54,719

Security Description	Shares	Value
Legrand SA	4,342	$ 401,326
L'Oreal SA	3,996	1,663,537
LVMH Moet Hennessy Louis Vuitton SE	4,575	3,470,085
Orange SA	30,295	348,333
Pernod Ricard SA	3,346	559,196
Publicis Groupe SA	3,733	283,618
Remy Cointreau SA	370	45,304
Renault SA	3,118	128,333
Safran SA	5,663	891,201
Sartorius Stedim Biotech	431	103,129
SEB SA	457	42,893
Societe Generale SA	11,835	288,761
Sodexo SA	1,442	148,885
Teleperformance SE	948	119,841
Thales SA	1,747	246,187
Unibail-Rodamco-Westfield REIT (b)(e)	643	1,519
Unibail-Rodamco-Westfield REIT (b)(e)	2,091	103,497
Valeo SE	3,191	55,170
Veolia Environnement SA	11,145	323,668
Vinci SA	8,805	979,027
Vivendi SE	11,341	99,612
Wendel SE	417	33,134
Worldline SA (b)(d)	3,878	109,420
		22,111,309
GERMANY — 8.8%
adidas AG	2,641	465,896
Allianz SE	6,682	1,596,730
BASF SE	14,809	673,414
Bayer AG	16,277	783,252
Bayerische Motoren Werke AG	4,987	508,885
Bayerische Motoren Werke AG Preference Shares	951	88,907
Bechtle AG	1,295	60,657
Beiersdorf AG	1,642	212,354
Brenntag SE	2,519	195,970
Carl Zeiss Meditec AG	650	56,996
Commerzbank AG	17,306	197,702
Continental AG	1,745	123,340
Covestro AG (b)(d)	3,090	167,045
Daimler Truck Holding AG	8,033	279,132
Deutsche Bank AG	32,980	364,889
Deutsche Boerse AG	3,143	544,736
Deutsche Lufthansa AG (b)	9,491	75,425
Deutsche Post AG	16,375	668,082
Deutsche Telekom AG	53,700	1,129,593
Dr Ing hc F Porsche AG (d)	1,836	173,004
E.ON SE	37,135	440,347
Evonik Industries AG	3,466	63,576
Fresenius Medical Care AG & Co. KGaA	3,348	144,765
Fresenius SE & Co. KGaA	6,779	211,442
GEA Group AG	2,403	88,944
Hannover Rueck SE	984	216,592

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Heidelberg Materials AG	2,393	$ 186,269
HelloFresh SE (b)	2,634	78,866
Henkel AG & Co. KGaA	1,674	105,845
Henkel AG & Co. KGaA Preference Shares	2,820	201,414
Infineon Technologies AG	21,636	718,253
Knorr-Bremse AG	1,144	72,891
LEG Immobilien SE (b)	1,214	83,983
Mercedes-Benz Group AG	13,294	927,403
Merck KGaA	2,138	357,990
MTU Aero Engines AG	873	158,747
Muenchener Rueckversicherungs-Gesellschaft AG	2,283	892,161
Nemetschek SE	905	55,459
Porsche Automobil Holding SE Preference Shares	2,497	123,329
Puma SE	1,687	105,023
Rational AG	83	52,726
Rheinmetall AG	697	179,986
SAP SE	17,301	2,249,747
Sartorius AG Preference Shares	427	145,481
Scout24 SE (d)	1,252	87,036
Siemens AG	12,592	1,808,589
Siemens Energy AG (b)	8,358	109,551
Siemens Healthineers AG (d)	4,597	233,620
Symrise AG	2,131	203,780
Talanx AG	1,029	65,367
Telefonica Deutschland Holding AG	17,455	31,324
Volkswagen AG	459	60,600
Volkswagen AG Preference Shares	3,356	387,082
Vonovia SE	12,207	294,800
Wacker Chemie AG	298	42,799
Zalando SE (b)(d)	3,570	79,866
		19,631,662
HONG KONG — 2.1%
AIA Group Ltd.	191,400	1,560,409
CK Asset Holdings Ltd.	32,015	168,622
CK Infrastructure Holdings Ltd.	12,000	56,768
Futu Holdings Ltd. ADR (a)(b)	999	57,752
Hang Lung Properties Ltd.	28,000	38,326
Hang Seng Bank Ltd.	12,300	153,046
Henderson Land Development Co. Ltd.	25,250	66,576
HKT Trust & HKT Ltd. Stapled Security	63,000	65,801
Hong Kong Exchanges & Clearing Ltd.	19,975	746,271
Hongkong Land Holdings Ltd.	18,300	65,331
Link REIT	40,530	198,721
MTR Corp. Ltd.	25,131	99,473
New World Development Co. Ltd.	27,347	53,214
Power Assets Holdings Ltd.	23,000	111,302

Security Description	Shares	Value
Prudential PLC	45,067	$ 488,898
Sino Land Co. Ltd.	57,908	65,288
Sun Hung Kai Properties Ltd.	24,000	256,798
Swire Pacific Ltd. Class A	7,000	47,237
Swire Properties Ltd.	18,200	37,972
Techtronic Industries Co. Ltd.	22,500	218,339
WH Group Ltd. (d)	137,810	72,320
Wharf Real Estate Investment Co. Ltd.	26,000	100,423
		4,728,887
IRELAND — 0.5%
AerCap Holdings NV (b)	2,870	179,863
AIB Group PLC	24,328	109,726
Bank of Ireland Group PLC	17,269	169,854
Kerry Group PLC Class A	2,604	218,298
Kingspan Group PLC	2,558	192,180
Smurfit Kappa Group PLC	4,242	141,743
		1,011,664
ISRAEL — 0.6%
Azrieli Group Ltd.	729	37,417
Bank Hapoalim BM	20,253	180,293
Bank Leumi Le-Israel BM	25,010	207,004
Check Point Software Technologies Ltd. (b)	1,593	212,315
Elbit Systems Ltd.	436	86,822
ICL Group Ltd.	12,612	69,802
Israel Discount Bank Ltd. Class A	20,054	108,461
Mizrahi Tefahot Bank Ltd.	2,390	86,698
Nice Ltd. (b)	1,012	171,484
Teva Pharmaceutical Industries Ltd. (b)	12,649	128,351
Teva Pharmaceutical Industries Ltd. ADR (b)	5,462	55,712
Wix.com Ltd. (b)	890	81,702
		1,426,061
ITALY — 2.1%
Amplifon SpA	1,984	59,068
Assicurazioni Generali SpA	16,491	338,110
Coca-Cola HBC AG	3,790	104,036
Davide Campari-Milano NV	8,523	100,750
DiaSorin SpA	405	37,056
Enel SpA	134,752	830,332
Ferrari NV	2,091	619,213
FinecoBank Banca Fineco SpA	9,832	119,867
Infrastrutture Wireless Italiane SpA (d)	5,359	63,916
Intesa Sanpaolo SpA	262,198	677,349
Mediobanca Banca di Credito Finanziario SpA (a)	9,725	129,013
Moncler SpA	3,351	195,417
Nexi SpA (b)(d)	9,538	58,449
Poste Italiane SpA (d)	8,878	93,695
Prysmian SpA	4,395	177,520

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Recordati Industria Chimica e Farmaceutica SpA	1,750	$ 82,839
Snam SpA	32,878	154,868
Telecom Italia SpA (a)(b)	145,733	45,687
Terna - Rete Elettrica Nazionale	22,548	170,164
UniCredit SpA	30,547	735,125
		4,792,474
JAPAN — 23.3%
Advantest Corp. (a)	13,200	369,839
Aeon Co. Ltd.	10,900	216,393
AGC, Inc.	3,300	115,967
Aisin Corp.	2,900	109,801
Ajinomoto Co., Inc.	7,400	285,834
ANA Holdings, Inc. (b)	2,600	54,587
Asahi Group Holdings Ltd.	7,800	292,190
Asahi Intecc Co. Ltd.	3,400	61,244
Asahi Kasei Corp.	20,300	127,860
Astellas Pharma, Inc.	29,700	412,785
Azbil Corp.	2,000	61,357
Bandai Namco Holdings, Inc.	9,800	199,776
BayCurrent Consulting, Inc.	2,400	80,383
Bridgestone Corp.	9,500	371,087
Brother Industries Ltd.	3,900	62,946
Canon, Inc. (a)	16,400	396,194
Capcom Co. Ltd.	2,900	104,651
Central Japan Railway Co.	12,000	292,310
Chiba Bank Ltd. (a)	9,100	66,318
Chugai Pharmaceutical Co. Ltd.	11,100	343,953
Concordia Financial Group Ltd.	18,300	83,575
CyberAgent, Inc. (a)	7,300	39,444
Dai Nippon Printing Co. Ltd.	3,500	91,238
Daifuku Co. Ltd.	4,800	91,014
Dai-ichi Life Holdings, Inc.	15,800	327,912
Daiichi Sankyo Co. Ltd.	30,600	841,974
Daikin Industries Ltd.	4,400	692,176
Daito Trust Construction Co. Ltd.	1,100	116,100
Daiwa House Industry Co. Ltd.	9,800	263,676
Daiwa House REIT Investment Corp.	37	65,409
Daiwa Securities Group, Inc. (a)	21,300	123,197
Denso Corp.	28,800	463,386
Dentsu Group, Inc.	3,400	100,251
Disco Corp.	1,500	277,232
East Japan Railway Co.	5,000	286,648
Eisai Co. Ltd.	4,200	233,720
FANUC Corp.	15,800	412,192
Fast Retailing Co. Ltd.	2,900	633,346
Fuji Electric Co. Ltd.	2,000	90,414
FUJIFILM Holdings Corp.	6,100	353,921
Fujitsu Ltd.	2,900	342,034
GLP J-REIT	76	68,093
GMO Payment Gateway, Inc.	700	38,358
Hakuhodo DY Holdings, Inc. (a)	3,900	32,133
Hamamatsu Photonics KK	2,500	105,529
Hankyu Hanshin Holdings, Inc.	3,900	133,315
Hikari Tsushin, Inc.	400	61,049

Security Description	Shares	Value
Hirose Electric Co. Ltd.	505	$ 58,613
Hitachi Construction Machinery Co. Ltd.	1,800	54,835
Hitachi Ltd.	15,500	963,394
Honda Motor Co. Ltd.	76,500	862,275
Hoshizaki Corp.	1,800	62,664
Hoya Corp.	5,800	595,644
Hulic Co. Ltd.	6,000	53,919
Ibiden Co. Ltd.	2,000	106,738
Iida Group Holdings Co. Ltd.	2,400	39,991
Isuzu Motors Ltd.	9,600	120,977
Japan Airlines Co. Ltd.	2,500	48,718
Japan Exchange Group, Inc. (a)	8,300	154,292
Japan Metropolitan Fund Invest REIT	112	72,803
Japan Post Bank Co. Ltd.	23,700	206,626
Japan Post Holdings Co. Ltd.	37,500	300,930
Japan Post Insurance Co. Ltd.	3,300	55,739
Japan Real Estate Investment Corp. REIT	24	93,764
Japan Tobacco, Inc.	19,600	451,828
JFE Holdings, Inc.	8,400	123,333
JSR Corp. (a)	2,900	78,065
Kajima Corp.	7,400	120,676
Kansai Electric Power Co., Inc.	11,700	162,887
Kao Corp.	8,000	297,591
Kawasaki Kisen Kaisha Ltd. (a)	2,200	75,247
KDDI Corp.	24,800	760,661
Keio Corp. (a)	2,000	68,916
Keisei Electric Railway Co. Ltd.	2,000	69,425
Keyence Corp.	3,200	1,190,149
Kikkoman Corp.	2,300	120,899
Kintetsu Group Holdings Co. Ltd.	3,300	93,720
Kirin Holdings Co. Ltd.	13,300	186,543
Kobayashi Pharmaceutical Co. Ltd.	900	40,258
Kobe Bussan Co. Ltd. (a)	2,700	63,436
Koei Tecmo Holdings Co. Ltd.	1,900	27,063
Koito Manufacturing Co. Ltd.	3,300	49,901
Komatsu Ltd.	15,400	417,237
Konami Group Corp. (a)	1,800	95,136
Kose Corp.	600	43,645
Kubota Corp.	16,600	245,176
Kurita Water Industries Ltd. (a)	2,000	69,881
Kyocera Corp.	5,300	269,466
Kyowa Kirin Co. Ltd.	4,300	75,036
Lasertec Corp.	1,200	187,127
Lixil Corp. (a)	4,600	53,683
M3, Inc.	7,100	129,225
Makita Corp.	3,900	96,491
MatsukiyoCocokara & Co.	6,300	113,166
Mazda Motor Corp.	9,100	103,456
McDonald's Holdings Co. Japan Ltd.	1,700	65,049
MEIJI Holdings Co. Ltd.	3,700	92,137
MINEBEA MITSUMI, Inc.	5,800	94,895

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
MISUMI Group, Inc.	4,600	$ 72,025
Mitsubishi Chemical Group Corp.	20,700	130,768
Mitsubishi Electric Corp.	31,500	390,307
Mitsubishi Estate Co. Ltd.	18,800	246,299
Mitsubishi HC Capital, Inc. (a)	14,300	95,445
Mitsubishi Heavy Industries Ltd.	5,300	296,424
Mitsubishi UFJ Financial Group, Inc.	189,200	1,608,311
Mitsui Chemicals, Inc.	3,300	85,737
Mitsui Fudosan Co. Ltd.	15,200	335,526
Mitsui OSK Lines Ltd. (a)	5,800	159,745
Mizuho Financial Group, Inc.	39,870	678,905
MonotaRO Co. Ltd.	4,100	43,974
MS&AD Insurance Group Holdings, Inc. (a)	7,200	265,130
Murata Manufacturing Co. Ltd.	28,500	522,158
NEC Corp.	4,100	226,973
Nexon Co. Ltd.	6,400	114,662
NGK Insulators Ltd. (a)	3,900	51,800
NIDEC Corp. (a)	6,800	315,837
Nintendo Co. Ltd.	17,200	718,083
Nippon Building Fund, Inc. REIT	24	97,464
NIPPON EXPRESS HOLDINGS, Inc.	1,100	57,519
Nippon Paint Holdings Co. Ltd.	15,300	103,145
Nippon Prologis REIT, Inc.	35	65,485
Nippon Sanso Holdings Corp.	2,900	68,893
Nippon Steel Corp. (a)	14,200	333,530
Nippon Telegraph & Telephone Corp.	488,400	577,996
Nippon Yusen KK (a)	7,900	205,726
Nissan Chemical Corp.	2,300	98,011
Nissan Motor Co. Ltd. (a)	37,800	167,260
Nissin Foods Holdings Co. Ltd.	1,100	91,590
Nitori Holdings Co. Ltd.	1,300	145,572
Nitto Denko Corp. (a)	2,400	157,743
Nomura Holdings, Inc.	50,200	201,540
Nomura Real Estate Holdings, Inc.	2,000	50,300
Nomura Real Estate Master Fund, Inc. REIT	68	76,282
Nomura Research Institute Ltd.	6,500	169,573
NTT Data Group Corp.	10,400	139,700
Obayashi Corp.	10,100	89,105
Obic Co. Ltd.	1,200	182,423
Odakyu Electric Railway Co. Ltd. (a)	5,300	79,362
Oji Holdings Corp.	14,000	59,012
Olympus Corp.	21,000	273,222
Omron Corp. (a)	2,900	129,565
Ono Pharmaceutical Co. Ltd.	6,400	123,004
Open House Group Co. Ltd.	1,400	47,603
Oracle Corp.	600	44,631
Oriental Land Co. Ltd.	18,100	595,429
ORIX Corp.	19,700	368,719
Otsuka Corp.	2,200	93,352
Otsuka Holdings Co. Ltd.	6,400	227,865

Security Description	Shares	Value
Pan Pacific International Holdings Corp.	6,500	$ 136,686
Panasonic Holdings Corp.	36,000	405,777
Persol Holdings Co. Ltd.	29,000	47,302
Rakuten Group, Inc. (a)	24,500	100,660
Recruit Holdings Co. Ltd.	23,800	735,093
Renesas Electronics Corp. (b)	20,700	317,037
Resona Holdings, Inc.	35,100	194,829
Ricoh Co. Ltd.	9,100	78,697
Rohm Co. Ltd.	5,600	105,714
SBI Holdings, Inc. (a)	4,200	88,602
SCSK Corp.	2,800	48,954
Secom Co. Ltd.	3,500	237,829
Seiko Epson Corp. (a)	4,500	70,851
Sekisui Chemical Co. Ltd.	6,500	93,781
Sekisui House Ltd.	10,300	205,482
Seven & i Holdings Co. Ltd.	12,500	490,451
SG Holdings Co. Ltd.	5,200	66,731
Sharp Corp. (a)(b)	3,300	20,610
Shimadzu Corp.	3,900	103,808
Shimano, Inc.	1,300	175,671
Shimizu Corp.	9,100	63,391
Shin-Etsu Chemical Co. Ltd.	30,000	873,111
Shionogi & Co. Ltd.	4,400	197,141
Shiseido Co. Ltd.	6,500	228,682
Shizuoka Financial Group, Inc.	7,500	61,267
SMC Corp.	1,000	448,852
SoftBank Corp.	47,700	540,371
SoftBank Group Corp.	17,100	725,941
Sompo Holdings, Inc.	5,100	219,858
Sony Group Corp.	20,900	1,714,297
Square Enix Holdings Co. Ltd.	1,500	51,516
Subaru Corp.	9,900	192,792
SUMCO Corp.	5,800	75,753
Sumitomo Chemical Co. Ltd.	23,200	63,276
Sumitomo Electric Industries Ltd.	11,800	142,454
Sumitomo Metal Mining Co. Ltd.	4,200	123,812
Sumitomo Mitsui Financial Group, Inc.	21,300	1,048,692
Sumitomo Mitsui Trust Holdings, Inc.	5,300	199,995
Sumitomo Realty & Development Co. Ltd.	5,000	130,206
Suntory Beverage & Food Ltd.	2,500	76,227
Suzuki Motor Corp.	6,100	245,921
Sysmex Corp.	2,800	133,841
T&D Holdings, Inc.	8,700	143,887
Taisei Corp.	3,300	116,343
Takeda Pharmaceutical Co. Ltd.	26,208	815,087
TDK Corp.	6,300	233,973
Terumo Corp.	11,000	292,129
TIS, Inc.	3,700	81,649
Tobu Railway Co. Ltd.	2,900	74,664
Toho Co. Ltd.	1,800	61,542
Tokio Marine Holdings, Inc.	29,800	691,955

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Tokyo Electric Power Co. Holdings, Inc. (b)	24,900	$ 111,597
Tokyo Electron Ltd.	7,800	1,068,400
Tokyu Corp. (a)	8,700	100,511
TOPPAN, Inc.	4,000	95,828
Toray Industries, Inc.	22,700	118,349
Toshiba Corp. (b)	1,400	43,184
Tosoh Corp.	4,700	60,409
TOTO Ltd.	2,500	64,718
Toyota Industries Corp.	2,500	197,269
Toyota Motor Corp.	175,700	3,152,533
Toyota Tsusho Corp.	3,500	206,282
Trend Micro, Inc.	2,400	91,159
Unicharm Corp.	6,500	230,467
USS Co. Ltd.	3,300	54,677
Welcia Holdings Co. Ltd.	1,700	29,432
West Japan Railway Co.	3,700	153,356
Yakult Honsha Co. Ltd.	4,000	97,383
Yamaha Corp.	2,200	60,239
Yamaha Motor Co. Ltd. (a)	4,900	129,080
Yamato Holdings Co. Ltd.	4,600	75,061
Yaskawa Electric Corp.	4,000	144,614
Yokogawa Electric Corp.	3,800	73,555
Z Holdings Corp.	43,600	121,399
Zensho Holdings Co. Ltd.	1,500	65,317
ZOZO, Inc. (a)	2,400	44,108
		52,236,984
JORDAN — 0.0% (c)
Hikma Pharmaceuticals PLC	2,806	71,511
LUXEMBOURG — 0.2%
ArcelorMittal SA	8,491	213,733
Eurofins Scientific SE	2,153	121,953
		335,686
MACAU — 0.2%
Galaxy Entertainment Group Ltd.	36,000	216,731
Sands China Ltd. (b)	40,000	122,576
		339,307
NETHERLANDS — 4.4%
ABN AMRO Bank NV GDR (d)	6,324	89,988
Adyen NV (b)(d)	355	265,242
Aegon NV	29,437	142,805
Akzo Nobel NV	2,956	214,319
Argenx SE (b)	929	453,036
ASM International NV	777	327,003
ASML Holding NV	6,679	3,953,615
ASR Nederland NV	2,648	99,583
BE Semiconductor Industries NV	1,277	125,738
Euronext NV (d)	1,353	94,544
EXOR NV (a)	1,776	157,836
Ferrovial SE	8,284	254,087
Heineken Holding NV	2,147	162,302
Heineken NV	4,772	421,670
IMCD NV	895	113,710
ING Groep NV	59,967	796,800

Security Description	Shares	Value
JDE Peet's NV	2,128	$ 59,525
Koninklijke Ahold Delhaize NV	15,874	479,324
Koninklijke KPN NV	53,011	175,055
Koninklijke Philips NV (a)	15,177	304,758
NN Group NV (a)	4,298	138,517
OCI NV (b)	1,683	47,024
Randstad NV	1,993	110,526
Universal Music Group NV	13,332	349,070
Wolters Kluwer NV	4,259	516,982
		9,853,059
NEW ZEALAND — 0.3%
Auckland International Airport Ltd.	20,413	97,017
Fisher & Paykel Healthcare Corp. Ltd. Class C	9,190	119,161
Mercury NZ Ltd.	11,291	41,384
Meridian Energy Ltd.	21,514	66,443
Spark New Zealand Ltd.	29,259	84,561
Xero Ltd. (b)	2,335	169,433
		577,999
NORWAY — 0.4%
DNB Bank ASA	15,167	307,307
Gjensidige Forsikring ASA	3,446	51,006
Kongsberg Gruppen ASA	1,428	59,209
Mowi ASA	7,166	127,651
Norsk Hydro ASA	21,202	133,896
Orkla ASA	12,211	91,782
Salmar ASA	1,183	60,413
Telenor ASA	11,574	132,155
		963,419
PORTUGAL — 0.1%
EDP - Energias de Portugal SA	51,990	216,655
Jeronimo Martins SGPS SA	4,685	105,455
		322,110
SINGAPORE — 1.8%
CapitaLand Ascendas REIT	61,870	124,656
CapitaLand Integrated Commercial Trust REIT	86,109	116,713
CapitaLand Investment Ltd.	41,705	94,722
City Developments Ltd.	8,500	41,164
DBS Group Holdings Ltd.	30,000	739,395
Genting Singapore Ltd.	101,200	62,652
Grab Holdings Ltd. Class A (a)(b)	30,442	107,765
Keppel Corp. Ltd.	23,700	118,074
Mapletree Logistics Trust REIT	56,347	69,355
Mapletree Pan Asia Commercial Trust REIT	39,100	40,965
Oversea-Chinese Banking Corp. Ltd.	56,189	527,351
Sea Ltd. ADR (b)	5,949	261,458
Seatrium Ltd. (b)	666,000	65,385
Sembcorp Industries Ltd.	14,800	55,192
Singapore Airlines Ltd. (a)	24,700	116,904
Singapore Exchange Ltd.	14,200	101,436

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Singapore Technologies Engineering Ltd.	24,400	$ 69,898
Singapore Telecommunications Ltd.	134,500	238,472
STMicroelectronics NV	11,347	492,379
United Overseas Bank Ltd.	20,971	437,888
UOL Group Ltd.	6,623	31,152
		3,912,976
SOUTH AFRICA — 0.3%
Anglo American PLC	21,082	582,950
SOUTH KOREA — 0.0% (c)
Delivery Hero SE (b)(d)	2,842	81,754
SPAIN — 2.6%
Abertis Infraestructuras SA (b)	132	419
Acciona SA	398	50,861
ACS Actividades de Construccion y Servicios SA	3,727	134,439
Aena SME SA (d)	1,197	180,720
Amadeus IT Group SA	7,345	445,439
Banco Bilbao Vizcaya Argentaria SA	97,885	799,032
Banco Santander SA	270,947	1,038,022
CaixaBank SA	71,415	286,262
Cellnex Telecom SA (b)(d)	9,215	321,668
Corp. ACCIONA Energias Renovables SA (a)	1,060	27,383
EDP Renovaveis SA	5,205	85,500
Enagas SA	4,088	67,866
Endesa SA	5,180	105,710
Grifols SA (a)(b)	4,740	61,702
Iberdrola SA	100,869	1,131,494
Industria de Diseno Textil SA	18,073	675,267
Redeia Corp. SA	6,740	106,290
Telefonica SA (a)	84,675	346,765
		5,864,839
SWEDEN — 3.1%
Alfa Laval AB	4,580	158,425
Assa Abloy AB Class B	16,330	358,039
Atlas Copco AB Class A	44,563	603,993
Atlas Copco AB Class B	25,450	300,316
Beijer Ref AB (a)	6,276	66,722
Boliden AB	4,704	136,151
Epiroc AB Class A	10,748	205,775
Epiroc AB Class B	6,451	104,031
EQT AB	5,708	113,958
Essity AB Class B	9,941	215,854
Evolution AB (d)	2,975	302,971
Fastighets AB Balder Class B (a)(b)	9,686	43,953
Getinge AB Class B	3,599	63,836
H & M Hennes & Mauritz AB Class B (a)	11,450	163,842
Hexagon AB Class B	33,780	290,346
Holmen AB Class B	1,499	58,750
Husqvarna AB Class B (a)	7,050	54,341

Security Description	Shares	Value
Industrivarden AB Class A	2,050	$ 54,494
Industrivarden AB Class C (a)	2,387	63,409
Indutrade AB	4,355	81,254
Investment AB Latour Class B	2,344	41,587
Investor AB Class B	28,725	554,712
L E Lundbergforetagen AB Class B	1,136	47,785
Lifco AB Class B	3,675	64,930
Nibe Industrier AB Class B	24,169	159,730
Saab AB Class B	1,303	66,780
Sagax AB Class B	3,038	58,304
Sandvik AB	17,384	322,584
Securitas AB Class B	7,943	63,359
Skandinaviska Enskilda Banken AB Class A	26,105	313,932
Skanska AB Class B	5,295	87,728
SKF AB Class B	6,055	101,519
Svenska Cellulosa AB SCA Class B	9,637	133,012
Svenska Handelsbanken AB Class A	23,814	213,849
Swedbank AB Class A	14,427	267,314
Swedish Orphan Biovitrum AB (b)	3,115	64,054
Tele2 AB Class B	9,267	71,378
Telefonaktiebolaget LM Ericsson Class B (a)	47,590	233,609
Telia Co. AB	42,907	89,138
Volvo AB Class A	3,191	66,791
Volvo AB Class B	24,960	518,306
Volvo Car AB Class B	9,505	38,880
		7,019,741
SWITZERLAND — 6.8%
ABB Ltd.	26,504	950,296
Adecco Group AG	2,573	106,205
Alcon, Inc.	8,279	642,012
Bachem Holding AG	490	36,423
Baloise Holding AG	720	104,600
Banque Cantonale Vaudoise (a)	486	51,028
Barry Callebaut AG	57	90,846
BKW AG	336	59,318
Chocoladefabriken Lindt & Spruengli AG (e)	16	178,225
Chocoladefabriken Lindt & Spruengli AG (e)	2	219,501
Cie Financiere Richemont SA Class A	8,648	1,058,784
Clariant AG	3,193	50,610
DSM-Firmenich AG	3,081	261,385
Dufry AG (b)	1,598	60,982
EMS-Chemie Holding AG	110	74,912
Geberit AG	582	292,018
Givaudan SA	152	497,473
Helvetia Holding AG	605	84,917
Julius Baer Group Ltd.	3,487	224,360

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Kuehne & Nagel International AG	875	$ 249,645
Logitech International SA	2,780	192,303
Lonza Group AG	1,234	574,104
Novartis AG	33,960	3,484,724
Partners Group Holding AG	370	418,414
Schindler Holding AG (e)	654	130,829
Schindler Holding AG (e)	375	72,475
SGS SA	2,548	214,524
SIG Group AG	4,933	122,085
Sika AG	2,425	617,914
Sonova Holding AG	863	205,373
Straumann Holding AG	1,820	233,170
Swatch Group AG	833	40,840
Swatch Group AG Bearer Shares	459	118,112
Swiss Life Holding AG	503	314,292
Swiss Prime Site AG	1,197	109,847
Swisscom AG	423	251,636
Temenos AG	1,086	76,476
UBS Group AG	54,491	1,351,553
VAT Group AG (d)	440	158,242
Zurich Insurance Group AG	2,493	1,144,850
		15,125,303
UNITED KINGDOM — 11.5%
3i Group PLC	15,866	401,441
abrdn PLC	34,386	65,368
Admiral Group PLC	3,453	100,180
Ashtead Group PLC	7,150	436,521
Associated British Foods PLC	5,678	143,318
AstraZeneca PLC	25,678	3,479,508
Auto Trader Group PLC (d)	15,525	117,029
Aviva PLC	45,441	216,195
BAE Systems PLC	50,046	609,492
Barclays PLC	257,011	498,586
Barratt Developments PLC	15,845	85,307
Berkeley Group Holdings PLC	1,885	94,491
British American Tobacco PLC	35,199	1,107,134
BT Group PLC (a)	110,825	157,857
Bunzl PLC	5,494	196,209
Burberry Group PLC	6,214	144,750
CNH Industrial NV	16,684	203,845
Coca-Cola Europacific Partners PLC (e)	200	12,496
Coca-Cola Europacific Partners PLC (e)	3,281	205,994
Compass Group PLC	28,722	701,133
Croda International PLC	2,261	135,637
DCC PLC	1,611	90,627
Diageo PLC	37,228	1,378,608
Entain PLC	10,380	118,179
Halma PLC	6,060	143,382
Hargreaves Lansdown PLC	5,557	52,443
HSBC Holdings PLC	326,106	2,566,886
Imperial Brands PLC	14,550	296,042
Informa PLC	22,997	210,630

Security Description	Shares	Value
InterContinental Hotels Group PLC	2,881	$ 213,586
Intertek Group PLC	2,572	129,086
J Sainsbury PLC	28,156	86,877
JD Sports Fashion PLC	40,689	74,345
Johnson Matthey PLC	2,945	58,519
Kingfisher PLC	30,863	84,117
Land Securities Group PLC REIT	11,262	81,073
Legal & General Group PLC	97,392	264,490
Lloyds Banking Group PLC	1,080,189	584,985
London Stock Exchange Group PLC	7,001	703,601
M&G PLC	35,810	86,236
Melrose Industries PLC	22,391	128,229
National Grid PLC	61,004	729,692
NatWest Group PLC	96,837	278,584
Next PLC	2,096	186,652
Ocado Group PLC (b)	9,195	67,383
Pearson PLC	10,797	114,440
Persimmon PLC	4,982	65,520
Phoenix Group Holdings PLC	11,959	70,385
Reckitt Benckiser Group PLC	11,888	840,703
RELX PLC (e)	18,054	611,494
RELX PLC (e)	13,268	450,222
Rentokil Initial PLC	41,956	312,480
Rolls-Royce Holdings PLC (b)	139,446	375,973
Sage Group PLC	16,942	204,511
Schroders PLC	14,237	70,759
Segro PLC REIT	19,996	175,578
Severn Trent PLC	4,022	116,099
Smith & Nephew PLC	13,963	174,345
Smiths Group PLC	6,167	121,902
Spirax-Sarco Engineering PLC	1,194	138,826
SSE PLC	17,776	349,314
St. James's Place PLC	8,962	91,031
Standard Chartered PLC	39,854	368,720
Taylor Wimpey PLC	56,374	80,711
Tesco PLC	122,319	394,441
Unilever PLC	41,669	2,065,896
United Utilities Group PLC	10,852	125,593
Vodafone Group PLC	373,292	350,008
Whitbread PLC	3,330	140,792
Wise PLC Class A (b)	10,187	85,246
WPP PLC	17,325	155,000
		25,776,732
UNITED STATES — 8.2%
CRH PLC	12,066	668,907
CSL Ltd.	7,992	1,293,635
CyberArk Software Ltd. (b)	704	115,294
Experian PLC	15,218	499,835
GSK PLC	67,845	1,235,498
Haleon PLC	91,798	381,902
Holcim AG	8,635	554,838
James Hardie Industries PLC CDI (b)	7,325	192,837

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE FOSSIL FUEL RESERVES FREE ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Monday.com Ltd. (b)	410	$ 65,280
Nestle SA	44,236	5,016,444
QIAGEN NV (b)	3,715	150,526
Roche Holding AG	11,640	3,186,749
Roche Holding AG Bearer Shares	520	153,135
Sanofi	18,824	2,022,487
Schneider Electric SE	9,016	1,498,483
Stellantis NV (e)	16,410	316,243
Stellantis NV (e)	20,014	385,867
Swiss Re AG	5,007	516,244
Tenaris SA	7,991	126,780
		18,380,984
TOTAL COMMON STOCKS (Cost $238,348,433)		222,126,957


SHORT-TERM INVESTMENTS — 1.4%
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (f)(g)	44,289	44,298
State Street Navigator Securities Lending Portfolio II (h)(i)	3,114,574	3,114,574
TOTAL SHORT-TERM INVESTMENTS (Cost $3,158,872)		3,158,872
TOTAL INVESTMENTS — 100.7% (Cost $241,507,305)		225,285,829
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.7)%		(1,562,387)
NET ASSETS — 100.0%		$ 223,723,442

(a)	All or a portion of the shares of the security are on loan at September 30, 2023.
(b)	Non-income producing security.
(c)	Amount is less than 0.05% of net assets.
(d)	Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 1.4% of net assets as of September 30, 2023, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(e)	Reflects separate holdings of the issuer's common stock traded on different securities exchanges.
(f)	The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(g)	The rate shown is the annualized seven-day yield at September 30, 2023.
(h)	The Fund invested in an affiliated entity. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(i)	Investment of cash collateral for securities loaned.

ADR	American Depositary Receipt
CDI	CREST Depository Interest
GDR	Global Depositary Receipt
REIT	Real Estate Investment Trust

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of September 30, 2023.

Description	Level 1 – Quoted Prices	Level 2 – Other Significant Observable Inputs	Level 3 – Significant Unobservable Inputs	Total
ASSETS:
INVESTMENTS:
Common Stocks	$222,126,538	$419	$—	$222,126,957
Short-Term Investments	3,158,872	—	—	3,158,872
TOTAL INVESTMENTS	$225,285,410	$419	$—	$225,285,829

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE STRATEGICFACTORS ETF

SCHEDULE OF INVESTMENTS

September 30, 2023

Security Description	Shares	Value
COMMON STOCKS — 99.2%
AUSTRALIA — 7.2%
Ampol Ltd.	9,378	$ 204,577
ANZ Group Holdings Ltd.	96,818	1,603,399
ASX Ltd.	12,245	451,415
Aurizon Holdings Ltd.	48,647	109,575
BHP Group Ltd.	452,570	12,924,922
BlueScope Steel Ltd.	26,952	338,155
Brambles Ltd.	189,772	1,753,897
Cochlear Ltd.	2,116	348,682
Coles Group Ltd.	92,049	924,395
Commonwealth Bank of Australia	41,902	2,703,543
Dexus REIT	35,730	168,339
Endeavour Group Ltd.	36,143	122,932
Flutter Entertainment PLC (a)	1,324	217,136
Fortescue Metals Group Ltd.	155,049	2,093,435
Glencore PLC	1,193,138	6,843,079
Goodman Group REIT	109,270	1,512,715
GPT Group REIT	39,289	98,893
IDP Education Ltd. (b)	11,426	157,663
IGO Ltd.	36,649	299,450
Insurance Australia Group Ltd.	174,556	639,900
Lendlease Corp. Ltd. Stapled Security	21,130	97,916
Lottery Corp. Ltd.	46,342	141,171
Macquarie Group Ltd.	4,540	491,468
Medibank Pvt Ltd.	781,461	1,734,981
Mineral Resources Ltd.	2,487	108,554
Mirvac Group REIT	58,606	80,566
National Australia Bank Ltd.	77,744	1,458,615
Newcrest Mining Ltd.	17,640	279,157
Northern Star Resources Ltd.	9,433	63,681
Origin Energy Ltd.	42,518	240,933
Qantas Airways Ltd. (a)	33,589	112,294
QBE Insurance Group Ltd.	28,273	286,666
Ramsay Health Care Ltd.	3,209	107,427
REA Group Ltd. (b)	3,939	392,317
Rio Tinto Ltd.	31,928	2,339,848
Rio Tinto PLC	106,187	6,705,841
Santos Ltd.	114,379	583,179
Scentre Group REIT	138,195	219,410
SEEK Ltd.	5,222	74,382
Sonic Healthcare Ltd.	36,359	699,290
South32 Ltd.	96,674	211,514
Stockland REIT	39,783	100,650
Suncorp Group Ltd.	38,177	344,213
Telstra Group Ltd.	418,768	1,040,550
Transurban Group Stapled Security	114,906	941,094
Vicinity Ltd. REIT	76,079	83,227
Washington H Soul Pattinson & Co. Ltd.	8,083	170,014
Wesfarmers Ltd.	178,125	6,076,884
Westpac Banking Corp.	104,346	1,424,345
WiseTech Global Ltd.	7,567	317,687

Security Description	Shares	Value
Woodside Energy Group Ltd.	169,189	$ 3,984,509
Woolworths Group Ltd.	97,497	2,348,344
		66,776,829
AUSTRIA — 0.2%
Erste Group Bank AG	16,289	566,013
Mondi PLC	38,950	652,492
OMV AG	9,723	466,535
Verbund AG	4,176	340,664
voestalpine AG	8,881	242,967
		2,268,671
BELGIUM — 0.9%
Ageas SA	7,244	299,344
Anheuser-Busch InBev SA	21,791	1,211,470
Groupe Bruxelles Lambert NV	33,754	2,521,606
KBC Group NV	7,998	500,791
Sofina SA	703	142,757
Solvay SA	2,803	311,161
UCB SA	31,805	2,611,047
Umicore SA	10,796	256,609
		7,854,785
BRAZIL — 0.1%
Yara International ASA	14,668	558,690
CHINA — 0.4%
BOC Hong Kong Holdings Ltd.	803,036	2,199,368
Prosus NV	13,412	396,463
SITC International Holdings Co. Ltd.	151,000	253,728
Wilmar International Ltd.	150,000	409,920
Xinyi Glass Holdings Ltd.	197,122	255,217
		3,514,696
DENMARK — 4.2%
AP Moller - Maersk AS Class A	923	1,642,036
AP Moller - Maersk AS Class B	655	1,184,323
Carlsberg AS Class B	12,298	1,556,457
Chr Hansen Holding AS	22,556	1,384,770
Coloplast AS Class B	7,223	766,685
Danske Bank AS	23,411	546,286
DSV AS	13,322	2,494,849
Genmab AS (a)	7,406	2,637,189
Novo Nordisk AS Class B	260,122	23,780,747
Novozymes AS Class B	24,241	979,869
Orsted AS (c)	1,899	103,831
Pandora AS	7,218	749,757
ROCKWOOL AS Class B	642	156,097
Tryg AS	61,072	1,121,601
Vestas Wind Systems AS (a)	6,000	129,112
		39,233,609
FINLAND — 1.5%
Elisa Oyj	59,010	2,742,108
Fortum Oyj (b)	26,969	313,945
Kesko Oyj Class B	18,108	325,346
Kone Oyj Class B	66,762	2,821,716
Neste Oyj (b)	33,395	1,136,019

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE STRATEGICFACTORS ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Nokia Oyj	234,426	$ 885,572
Nordea Bank Abp (d)	87,553	968,030
Nordea Bank Abp (d)	8,887	97,968
Orion Oyj Class B	41,978	1,654,213
Sampo Oyj Class A	46,040	1,997,564
Stora Enso Oyj Class R	27,246	342,987
UPM-Kymmene Oyj	18,176	624,848
Wartsila Oyj Abp	7,803	88,852
		13,999,168
FRANCE — 7.7%
Air Liquide SA	19,985	3,382,074
Airbus SE	6,067	815,648
Alstom SA (b)	7,086	169,552
Arkema SA	2,313	229,118
AXA SA	63,449	1,893,037
BioMerieux	6,097	592,716
BNP Paribas SA	50,443	3,227,357
Bouygues SA	11,618	407,641
Bureau Veritas SA	10,253	255,210
Capgemini SE	2,377	417,260
Carrefour SA	134,563	2,320,101
Cie de Saint-Gobain SA	16,952	1,020,878
Cie Generale des Etablissements Michelin SCA	22,279	685,700
Credit Agricole SA	44,233	547,556
Danone SA	36,570	2,023,428
Dassault Aviation SA	5,171	976,704
Dassault Systemes SE	3,427	128,062
Edenred SE	5,104	320,341
Eiffage SA	2,990	285,036
Engie SA	69,798	1,073,747
EssilorLuxottica SA	3,287	574,775
Getlink SE	25,050	400,743
Hermes International SCA	2,184	3,999,834
Ipsen SA	10,203	1,341,661
Kering SA	5,159	2,359,077
Klepierre SA REIT	7,996	196,660
La Francaise des Jeux SAEM (c)	26,109	851,401
Legrand SA	5,042	466,026
L'Oreal SA	16,534	6,883,113
LVMH Moet Hennessy Louis Vuitton SE	16,509	12,521,887
Orange SA	420,474	4,834,621
Pernod Ricard SA	8,882	1,484,393
Publicis Groupe SA	4,746	360,582
Renault SA	17,220	708,756
Safran SA	2,104	331,112
Sartorius Stedim Biotech	2,182	522,104
SEB SA	1,153	108,219
Societe Generale SA	60,351	1,472,498
Sodexo SA	2,609	269,377
Teleperformance SE	1,345	170,028
Thales SA	12,160	1,713,583
TotalEnergies SE	98,575	6,503,063

Security Description	Shares	Value
Unibail-Rodamco-Westfield REIT (a)	1,064	$ 2,513
Unibail-Rodamco-Westfield REIT (a)(d)	2,010	99,488
Valeo SE	7,946	137,381
Veolia Environnement SA	18,264	530,414
Vinci SA	10,797	1,200,518
Vivendi SE	21,128	185,575
Worldline SA (a)(c)	976	27,539
		71,028,107
GERMANY — 6.0%
adidas AG	2,465	434,848
Allianz SE	11,902	2,844,101
BASF SE	30,126	1,369,929
Bayer AG	24,183	1,163,691
Bayerische Motoren Werke AG	17,339	1,769,312
Bayerische Motoren Werke AG Preference Shares	3,978	371,894
Bechtle AG	6,010	281,503
Beiersdorf AG	22,519	2,912,299
Brenntag SE	11,172	869,148
Carl Zeiss Meditec AG	1,772	155,379
Commerzbank AG	56,552	646,045
Continental AG	3,585	253,396
Covestro AG (a)(c)	9,699	524,326
Daimler Truck Holding AG	17,630	612,610
Deutsche Bank AG	136,665	1,512,053
Deutsche Boerse AG	17,485	3,030,454
Deutsche Lufthansa AG (a)	15,273	121,374
Deutsche Post AG	85,227	3,477,171
Deutsche Telekom AG	215,100	4,524,681
Dr Ing hc F Porsche AG (c)	8,301	782,193
E.ON SE	84,639	1,003,649
Evonik Industries AG	6,584	120,769
Fresenius Medical Care AG & Co. KGaA	9,320	402,991
Fresenius SE & Co. KGaA	20,371	635,387
GEA Group AG	9,577	354,482
Hannover Rueck SE	2,406	529,595
Heidelberg Materials AG	4,852	377,676
HelloFresh SE (a)	851	25,480
Henkel AG & Co. KGaA	9,975	630,705
Henkel AG & Co. KGaA Preference Shares	15,932	1,137,916
Infineon Technologies AG	15,167	503,501
Knorr-Bremse AG	5,468	348,397
LEG Immobilien SE (a)	3,775	261,150
Mercedes-Benz Group AG	41,590	2,901,362
Merck KGaA	15,019	2,514,801
MTU Aero Engines AG	783	142,381
Muenchener Rueckversicherungs-Gesellschaft AG	11,074	4,327,549
Nemetschek SE	3,990	244,509
Porsche Automobil Holding SE Preference Shares	9,697	478,941

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE STRATEGICFACTORS ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Rational AG	410	$ 260,453
Rheinmetall AG	2,654	685,340
RWE AG	16,945	630,609
SAP SE	9,779	1,271,619
Sartorius AG Preference Shares	1,776	605,093
Siemens AG	9,932	1,426,533
Siemens Energy AG (a)	9,444	123,786
Siemens Healthineers AG (c)	4,178	212,326
Symrise AG	16,054	1,535,185
Telefonica Deutschland Holding AG	82,002	147,159
Volkswagen AG	2,650	349,869
Volkswagen AG Preference Shares	21,716	2,504,728
Vonovia SE	29,604	714,939
Wacker Chemie AG	983	141,178
Zalando SE (a)(c)	1,608	35,973
		55,242,438
HONG KONG — 2.9%
AIA Group Ltd.	142,423	1,161,119
CK Asset Holdings Ltd.	93,854	494,325
CK Infrastructure Holdings Ltd.	233,500	1,104,614
CLP Holdings Ltd.	439,000	3,248,281
Hang Lung Properties Ltd.	59,000	80,757
Hang Seng Bank Ltd.	298,529	3,714,531
Henderson Land Development Co. Ltd.	68,000	179,294
HKT Trust & HKT Ltd. Stapled Security	1,532,540	1,600,666
Hong Kong & China Gas Co. Ltd.	868,652	605,584
Hong Kong Exchanges & Clearing Ltd.	80,472	3,006,455
Hongkong Land Holdings Ltd.	48,400	172,788
Jardine Matheson Holdings Ltd.	39,400	1,828,948
Link REIT	190,909	936,038
MTR Corp. Ltd.	673,396	2,665,434
New World Development Co. Ltd.	86,687	168,684
Power Assets Holdings Ltd.	600,500	2,905,948
Prudential PLC	40,377	438,020
Sino Land Co. Ltd.	79,173	89,263
Sun Hung Kai Properties Ltd.	90,000	962,991
Swire Pacific Ltd. Class A	15,500	104,595
Techtronic Industries Co. Ltd.	99,000	960,693
WH Group Ltd. (c)	475,290	249,423
Wharf Real Estate Investment Co. Ltd.	21,000	81,111
		26,759,562
IRELAND — 0.4%
AerCap Holdings NV (a)	4,175	261,647
AIB Group PLC	39,890	179,915
Bank of Ireland Group PLC	34,743	341,725
Kerry Group PLC Class A	18,569	1,556,673

Security Description	Shares	Value
Kingspan Group PLC	9,791	$ 735,587
Smurfit Kappa Group PLC	18,652	623,241
		3,698,788
ISRAEL — 1.0%
Azrieli Group Ltd.	2,219	113,893
Bank Hapoalim BM	212,201	1,889,018
Bank Leumi Le-Israel BM	172,293	1,426,045
Check Point Software Technologies Ltd. (a)	18,628	2,482,740
Elbit Systems Ltd.	4,401	876,385
ICL Group Ltd.	107,262	593,646
Israel Discount Bank Ltd. Class A	40,449	218,767
Mizrahi Tefahot Bank Ltd.	20,446	741,684
Teva Pharmaceutical Industries Ltd. (a)	28,176	285,905
Teva Pharmaceutical Industries Ltd. ADR (a)	24,499	249,890
		8,877,973
ITALY — 2.2%
Assicurazioni Generali SpA	45,107	924,815
Davide Campari-Milano NV	23,963	283,265
DiaSorin SpA	1,839	168,263
Enel SpA	219,058	1,349,819
Eni SpA (b)	122,956	1,986,021
Ferrari NV	16,996	5,033,066
FinecoBank Banca Fineco SpA	44,949	547,996
Infrastrutture Wireless Italiane SpA (c)	65,294	778,750
Intesa Sanpaolo SpA	607,143	1,568,463
Mediobanca Banca di Credito Finanziario SpA (b)	26,662	353,702
Moncler SpA	12,452	726,150
Poste Italiane SpA (c)	9,748	102,877
Prysmian SpA	3,017	121,861
Recordati Industria Chimica e Farmaceutica SpA	35,431	1,677,187
Snam SpA	315,947	1,488,230
Telecom Italia SpA (a)(b)	1,093,808	342,904
Terna - Rete Elettrica Nazionale	83,983	633,800
UniCredit SpA	89,000	2,141,820
		20,228,989
JAPAN — 23.8%
Advantest Corp. (b)	57,200	1,602,635
Aeon Co. Ltd.	30,400	603,518
AGC, Inc.	5,500	193,279
Aisin Corp.	6,300	238,532
Ajinomoto Co., Inc.	6,000	231,757
ANA Holdings, Inc. (a)	5,300	111,274
Asahi Group Holdings Ltd.	13,600	509,459
Asahi Intecc Co. Ltd.	11,700	210,753
Asahi Kasei Corp.	53,700	338,232
Astellas Pharma, Inc.	73,500	1,021,538
Azbil Corp.	6,100	187,139

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE STRATEGICFACTORS ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Bandai Namco Holdings, Inc.	60,700	$ 1,237,389
BayCurrent Consulting, Inc.	11,400	381,821
Bridgestone Corp.	36,800	1,437,475
Brother Industries Ltd.	22,800	367,993
Canon, Inc. (b)	124,000	2,995,611
Capcom Co. Ltd.	11,700	422,211
Central Japan Railway Co.	112,500	2,740,409
Chiba Bank Ltd.	165,100	1,203,191
Chubu Electric Power Co., Inc.	170,500	2,178,881
Chugai Pharmaceutical Co. Ltd.	92,800	2,875,572
Concordia Financial Group Ltd.	211,700	966,819
CyberAgent, Inc. (b)	13,700	74,025
Dai Nippon Printing Co. Ltd.	5,200	135,554
Daifuku Co. Ltd.	12,300	233,224
Dai-ichi Life Holdings, Inc.	45,008	934,091
Daiichi Sankyo Co. Ltd.	11,918	327,930
Daikin Industries Ltd.	2,900	456,207
Daito Trust Construction Co. Ltd.	5,200	548,836
Daiwa House Industry Co. Ltd.	22,100	594,616
Daiwa House REIT Investment Corp.	83	146,727
Daiwa Securities Group, Inc. (b)	26,800	155,008
Denso Corp.	32,000	514,874
Disco Corp.	6,600	1,219,822
East Japan Railway Co.	36,900	2,115,460
Eisai Co. Ltd.	4,100	228,155
ENEOS Holdings, Inc.	563,282	2,226,705
FANUC Corp.	8,500	221,749
Fast Retailing Co. Ltd.	11,300	2,467,864
FUJIFILM Holdings Corp.	25,100	1,456,296
Fujitsu Ltd.	12,100	1,427,107
GMO Payment Gateway, Inc.	2,300	126,032
Hakuhodo DY Holdings, Inc. (b)	11,200	92,279
Hamamatsu Photonics KK	8,500	358,797
Hankyu Hanshin Holdings, Inc.	17,700	605,044
Hikari Tsushin, Inc.	2,500	381,555
Hirose Electric Co. Ltd.	12,800	1,485,649
Hitachi Ltd.	22,900	1,423,337
Honda Motor Co. Ltd.	261,900	2,952,024
Hoshizaki Corp.	3,000	104,440
Hoya Corp.	23,500	2,413,386
Idemitsu Kosan Co. Ltd.	70,200	1,617,340
Iida Group Holdings Co. Ltd.	6,300	104,975
Inpex Corp.	42,600	644,031
Isuzu Motors Ltd.	25,600	322,605
ITOCHU Corp. (b)	111,814	4,050,705
Japan Airlines Co. Ltd.	5,200	101,334
Japan Exchange Group, Inc.	35,106	652,599
Japan Metropolitan Fund Invest REIT	239	155,356
Japan Post Bank Co. Ltd.	255,500	2,227,546
Japan Post Holdings Co. Ltd.	381,500	3,061,459
Japan Post Insurance Co. Ltd.	25,100	423,954

Security Description	Shares	Value
Japan Real Estate Investment Corp. REIT	40	$ 156,274
Japan Tobacco, Inc.	158,900	3,663,032
JFE Holdings, Inc.	35,300	518,293
Kajima Corp.	19,000	309,844
Kansai Electric Power Co., Inc.	43,000	598,643
Kao Corp.	39,400	1,465,635
Kawasaki Kisen Kaisha Ltd. (b)	9,900	338,613
KDDI Corp.	162,318	4,978,586
Keio Corp. (b)	16,000	551,329
Keisei Electric Railway Co. Ltd.	12,000	416,552
Keyence Corp.	11,000	4,091,138
Kikkoman Corp.	6,700	352,185
Kintetsu Group Holdings Co. Ltd.	46,200	1,312,083
Kirin Holdings Co. Ltd.	35,300	495,111
Kobayashi Pharmaceutical Co. Ltd.	6,500	290,752
Kobe Bussan Co. Ltd.	8,700	204,404
Koei Tecmo Holdings Co. Ltd.	12,060	171,778
Komatsu Ltd.	21,000	568,960
Kubota Corp.	28,500	420,935
Kyocera Corp.	6,300	320,309
Kyowa Kirin Co. Ltd.	51,000	889,958
Lasertec Corp.	6,500	1,013,604
Lixil Corp.	20,600	240,408
M3, Inc.	28,800	524,180
Makita Corp.	6,100	150,921
Marubeni Corp.	54,500	851,694
Mazda Motor Corp.	43,200	491,129
McDonald's Holdings Co. Japan Ltd.	41,000	1,568,839
MEIJI Holdings Co. Ltd.	73,000	1,817,846
MISUMI Group, Inc.	16,700	261,481
Mitsubishi Chemical Group Corp.	61,300	387,251
Mitsubishi Corp.	65,400	3,123,948
Mitsubishi Electric Corp.	58,200	721,138
Mitsubishi Estate Co. Ltd.	25,800	338,006
Mitsubishi Heavy Industries Ltd.	13,700	766,227
Mitsubishi UFJ Financial Group, Inc.	605,100	5,143,705
Mitsui & Co. Ltd.	42,600	1,548,131
Mitsui Chemicals, Inc.	4,900	127,306
Mitsui Fudosan Co. Ltd.	28,200	622,488
Mitsui OSK Lines Ltd. (b)	44,300	1,220,124
Mizuho Financial Group, Inc.	336,740	5,734,001
MonotaRO Co. Ltd.	22,900	245,612
MS&AD Insurance Group Holdings, Inc.	28,400	1,045,790
Murata Manufacturing Co. Ltd.	111,000	2,033,667
NEC Corp.	32,700	1,810,251
Nexon Co. Ltd.	5,400	96,746
NIDEC Corp. (b)	2,200	102,183
Nintendo Co. Ltd.	76,100	3,177,102

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE STRATEGICFACTORS ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Nippon Building Fund, Inc. REIT	38	$ 154,317
NIPPON EXPRESS HOLDINGS, Inc.	5,600	292,825
Nippon Paint Holdings Co. Ltd.	17,300	116,628
Nippon Prologis REIT, Inc.	67	125,357
Nippon Steel Corp. (b)	41,000	963,009
Nippon Telegraph & Telephone Corp.	3,500,300	4,142,422
Nippon Yusen KK (b)	29,200	760,403
Nissan Chemical Corp.	7,100	302,556
Nissan Motor Co. Ltd.	159,616	706,279
Nissin Foods Holdings Co. Ltd.	22,300	1,856,777
Nitori Holdings Co. Ltd.	14,200	1,590,095
Nitto Denko Corp. (b)	9,700	637,545
Nomura Holdings, Inc.	137,600	552,429
Nomura Real Estate Master Fund, Inc. REIT	113	126,763
Nomura Research Institute Ltd.	28,600	746,120
NTT Data Group Corp.	6,400	85,970
Obayashi Corp.	91,100	803,707
Obic Co. Ltd.	13,800	2,097,859
Odakyu Electric Railway Co. Ltd. (b)	31,400	470,185
Oji Holdings Corp.	34,000	143,314
Olympus Corp.	70,800	921,147
Ono Pharmaceutical Co. Ltd.	107,900	2,073,762
Open House Group Co. Ltd.	5,300	180,212
Oracle Corp.	9,000	669,459
Oriental Land Co. Ltd.	33,700	1,108,617
ORIX Corp.	39,700	743,053
Osaka Gas Co. Ltd.	93,500	1,542,617
Otsuka Corp.	22,500	954,733
Otsuka Holdings Co. Ltd.	116,400	4,144,300
Pan Pacific International Holdings Corp.	58,900	1,238,587
Panasonic Holdings Corp.	84,800	955,829
Persol Holdings Co. Ltd.	121,000	197,362
Recruit Holdings Co. Ltd.	87,905	2,715,055
Renesas Electronics Corp. (a)	20,500	313,974
Resona Holdings, Inc.	102,500	568,945
Ricoh Co. Ltd.	32,000	276,736
SBI Holdings, Inc. (b)	5,300	111,807
Secom Co. Ltd.	40,500	2,752,019
Sekisui Chemical Co. Ltd.	43,500	627,613
Sekisui House Ltd.	91,600	1,827,396
Seven & i Holdings Co. Ltd.	20,800	816,110
SG Holdings Co. Ltd.	81,100	1,040,754
Shimadzu Corp.	15,700	417,895
Shimano, Inc.	5,400	729,710
Shimizu Corp.	62,000	431,891
Shin-Etsu Chemical Co. Ltd.	126,300	3,675,798
Shionogi & Co. Ltd.	26,700	1,196,289
Shiseido Co. Ltd.	2,500	87,954
Shizuoka Financial Group, Inc.	202,600	1,655,014
SMC Corp.	3,700	1,660,754
SoftBank Corp.	387,400	4,388,673

Security Description	Shares	Value
SoftBank Group Corp.	60,000	$ 2,547,160
Sompo Holdings, Inc.	13,400	577,666
Sony Group Corp.	22,300	1,829,130
Square Enix Holdings Co. Ltd.	4,300	147,680
Subaru Corp.	22,000	428,427
SUMCO Corp.	7,400	96,650
Sumitomo Chemical Co. Ltd.	87,200	237,831
Sumitomo Corp.	39,612	792,107
Sumitomo Electric Industries Ltd.	31,400	379,073
Sumitomo Metal Mining Co. Ltd.	7,800	229,936
Sumitomo Mitsui Financial Group, Inc.	73,100	3,599,033
Sumitomo Mitsui Trust Holdings, Inc.	14,800	558,477
Sumitomo Realty & Development Co. Ltd.	4,400	114,581
Suntory Beverage & Food Ltd.	46,587	1,420,478
Suzuki Motor Corp.	10,000	403,150
Sysmex Corp.	10,000	478,003
T&D Holdings, Inc.	18,400	304,314
Taisei Corp.	10,900	384,285
Takeda Pharmaceutical Co. Ltd.	123,051	3,826,971
TDK Corp.	7,700	285,967
Terumo Corp.	4,700	124,819
TIS, Inc.	6,200	136,818
Tobu Railway Co. Ltd.	57,300	1,475,266
Toho Co. Ltd.	3,700	126,503
Tokio Marine Holdings, Inc.	72,900	1,692,736
Tokyo Electric Power Co. Holdings, Inc. (a)	215,000	963,592
Tokyo Electron Ltd.	37,300	5,109,144
Tokyo Gas Co. Ltd.	61,408	1,395,440
Tokyu Corp. (b)	78,100	902,291
TOPPAN, Inc.	6,900	165,304
Toray Industries, Inc.	52,100	271,629
Toshiba Corp. (a)	10,300	317,714
Tosoh Corp.	21,700	278,912
Toyota Industries Corp.	5,200	410,320
Toyota Motor Corp.	345,900	6,206,381
Toyota Tsusho Corp.	8,000	471,503
Trend Micro, Inc.	15,500	588,735
Unicharm Corp.	23,306	826,350
USS Co. Ltd.	98,600	1,633,697
Welcia Holdings Co. Ltd.	50,400	872,564
West Japan Railway Co.	21,100	874,542
Yakult Honsha Co. Ltd.	44,600	1,085,822
Yamaha Corp.	3,200	87,621
Yamaha Motor Co. Ltd.	15,600	410,947
Yamato Holdings Co. Ltd.	27,000	440,576
Yaskawa Electric Corp.	2,800	101,230
Z Holdings Corp.	34,300	95,504
ZOZO, Inc. (b)	7,600	139,675
		220,667,556

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE STRATEGICFACTORS ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
JORDAN — 0.1%
Hikma Pharmaceuticals PLC	40,577	$ 1,034,108
LUXEMBOURG — 0.1%
ArcelorMittal SA	46,360	1,166,964
Eurofins Scientific SE	3,212	181,938
		1,348,902
MACAU — 0.0% (e)
Galaxy Entertainment Group Ltd.	22,000	132,446
NETHERLANDS — 5.1%
ABN AMRO Bank NV GDR (c)	20,168	286,982
Adyen NV (a)(c)	1,474	1,101,314
Aegon NV	75,530	366,410
Akzo Nobel NV	3,948	286,243
Argenx SE (a)	4,172	2,034,519
ASM International NV	2,719	1,144,300
ASML Holding NV	24,640	14,585,578
EXOR NV (b)	3,786	336,467
Ferrovial SE	5,248	160,967
Heineken Holding NV	9,080	686,400
Heineken NV	14,577	1,288,071
IMCD NV	2,961	376,195
ING Groep NV	145,175	1,928,986
JDE Peet's NV	32,107	898,103
Koninklijke Ahold Delhaize NV	183,761	5,548,765
Koninklijke KPN NV	538,674	1,778,831
Koninklijke Philips NV	30,108	604,576
NN Group NV (b)	21,261	685,207
OCI NV (a)	11,338	316,788
Randstad NV	9,627	533,888
Shell PLC	207,430	6,597,835
Universal Music Group NV (b)	48,278	1,264,057
Wolters Kluwer NV	33,824	4,105,750
		46,916,232
NEW ZEALAND — 0.3%
Auckland International Airport Ltd.	143,713	683,028
Fisher & Paykel Healthcare Corp. Ltd. Class C	64,620	837,885
Meridian Energy Ltd.	31,261	96,545
Spark New Zealand Ltd.	407,195	1,176,830
		2,794,288
NORWAY — 0.6%
Aker BP ASA	26,975	750,372
DNB Bank ASA	27,191	550,931
Equinor ASA	75,295	2,484,749
Gjensidige Forsikring ASA	17,111	253,268
Kongsberg Gruppen ASA	5,543	229,829
Mowi ASA	27,506	489,976
Norsk Hydro ASA	33,231	209,863
Orkla ASA	66,728	501,549
Telenor ASA	40,685	464,552
		5,935,089

Security Description	Shares	Value
PORTUGAL — 0.3%
EDP - Energias de Portugal SA	55,897	$ 232,936
Galp Energia SGPS SA	20,758	308,564
Jeronimo Martins SGPS SA	105,497	2,374,635
		2,916,135
SINGAPORE — 2.2%
CapitaLand Integrated Commercial Trust REIT	245,600	332,889
DBS Group Holdings Ltd.	162,250	3,998,894
Genting Singapore Ltd.	1,399,700	866,545
Keppel Corp. Ltd.	56,211	280,046
Oversea-Chinese Banking Corp. Ltd.	397,945	3,734,834
Singapore Airlines Ltd. (b)	38,549	182,450
Singapore Exchange Ltd.	386,600	2,761,631
Singapore Technologies Engineering Ltd.	678,500	1,943,685
Singapore Telecommunications Ltd.	412,800	731,904
STMicroelectronics NV	54,548	2,366,994
United Overseas Bank Ltd.	155,175	3,240,155
		20,440,027
SOUTH AFRICA — 0.3%
Anglo American PLC	105,738	2,923,820
SPAIN — 2.6%
ACS Actividades de Construccion y Servicios SA	10,365	373,882
Aena SME SA (c)	4,566	689,364
Amadeus IT Group SA	3,435	208,316
Banco Bilbao Vizcaya Argentaria SA	288,021	2,351,105
Banco Santander SA (b)	896,507	3,434,596
CaixaBank SA	222,269	890,949
Cellnex Telecom SA (a)(c)	6,423	224,208
Enagas SA	54,794	909,646
Endesa SA	44,638	910,946
Grifols SA (a)	10,309	134,196
Iberdrola SA	198,548	2,227,204
Industria de Diseno Textil SA	167,442	6,256,184
Naturgy Energy Group SA (b)	9,220	251,461
Redeia Corp. SA	168,713	2,660,618
Repsol SA	109,414	1,803,661
Telefonica SA (b)	279,333	1,143,937
		24,470,273
SWEDEN — 2.2%
Alfa Laval AB	16,544	572,268
Assa Abloy AB Class B	65,911	1,445,113
Atlas Copco AB Class A	147,844	2,003,832
Atlas Copco AB Class B	161,422	1,904,816
Boliden AB	22,096	639,540
Epiroc AB Class A	59,623	1,141,509
Epiroc AB Class B	17,248	278,147
Essity AB Class B	10,872	236,069
Evolution AB (c)	11,651	1,186,527

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE STRATEGICFACTORS ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
H & M Hennes & Mauritz AB Class B	11,342	$ 162,297
Hexagon AB Class B	106,639	916,584
Husqvarna AB Class B (b)	19,373	149,325
Industrivarden AB Class C (b)	8,417	223,592
Indutrade AB	14,415	268,949
Investment AB Latour Class B	4,815	85,427
Investor AB Class B	59,212	1,143,451
L E Lundbergforetagen AB Class B	5,659	238,045
Lifco AB Class B	12,875	227,477
Nibe Industrier AB Class B	85,629	565,910
Sandvik AB	67,527	1,253,055
Securitas AB Class B	16,960	135,284
Skandinaviska Enskilda Banken AB Class A	55,603	668,667
Skanska AB Class B	19,598	324,703
SKF AB Class B	11,557	193,766
Svenska Cellulosa AB SCA Class B	10,150	140,092
Svenska Handelsbanken AB Class A	50,300	451,692
Swedbank AB Class A	31,551	584,600
Swedish Orphan Biovitrum AB (a)	13,991	287,696
Telefonaktiebolaget LM Ericsson Class B (b)	85,698	420,673
Telia Co. AB	90,369	187,739
Volvo AB Class B	119,571	2,482,946
Volvo Car AB Class B	14,011	57,312
		20,577,103
SWITZERLAND — 8.0%
ABB Ltd.	103,311	3,704,199
Adecco Group AG	7,751	319,936
Alcon, Inc.	8,118	629,527
Baloise Holding AG	7,680	1,115,732
Banque Cantonale Vaudoise (b)	12,879	1,352,239
Barry Callebaut AG	810	1,290,971
BKW AG	7,426	1,310,996
Chocoladefabriken Lindt & Spruengli AG (d)	51	568,091
Chocoladefabriken Lindt & Spruengli AG (d)	1	109,751
Cie Financiere Richemont SA Class A	3,691	451,893
Clariant AG	13,101	207,657
DSM-Firmenich AG	3,391	287,684
EMS-Chemie Holding AG	3,487	2,374,728
Geberit AG	4,257	2,135,946
Givaudan SA	914	2,991,382
Helvetia Holding AG	2,458	345,001
Julius Baer Group Ltd.	6,021	387,403
Kuehne & Nagel International AG	11,480	3,275,339
Logitech International SA	12,716	879,611

Security Description	Shares	Value
Lonza Group AG	858	$ 399,174
Novartis AG	176,277	18,088,240
Partners Group Holding AG	1,921	2,172,360
Schindler Holding AG (d)	3,502	700,553
Schindler Holding AG (d)	9,394	1,815,544
SGS SA	24,252	2,041,855
Sika AG	8,698	2,216,336
Sonova Holding AG	3,740	890,028
Straumann Holding AG	7,261	930,246
Swatch Group AG Bearer Shares	1,656	426,129
Swiss Life Holding AG	802	501,118
Swiss Prime Site AG	32,583	2,990,099
Swisscom AG	9,151	5,443,785
Temenos AG	3,504	246,751
UBS Group AG	118,668	2,943,350
VAT Group AG (c)	2,064	742,300
Zurich Insurance Group AG	16,957	7,787,096
		74,073,050
UNITED KINGDOM — 9.9%
3i Group PLC	23,713	599,986
abrdn PLC (b)	60,213	114,465
Admiral Group PLC	15,315	444,326
Ashtead Group PLC	29,000	1,770,505
Associated British Foods PLC	8,052	203,240
AstraZeneca PLC	32,521	4,406,772
Auto Trader Group PLC (c)	69,380	522,994
Aviva PLC	112,789	536,616
BAE Systems PLC	346,232	4,216,636
Barclays PLC	1,114,127	2,161,341
Barratt Developments PLC	90,629	487,932
Berkeley Group Holdings PLC	9,275	464,937
BP PLC	475,901	3,086,694
British American Tobacco PLC	83,471	2,625,460
BT Group PLC (b)	409,695	583,562
Bunzl PLC	51,518	1,839,877
Burberry Group PLC	25,347	590,438
Centrica PLC	231,537	436,479
CK Hutchison Holdings Ltd.	337,000	1,802,933
CNH Industrial NV	25,087	306,512
Coca-Cola Europacific Partners PLC	4,962	310,026
Compass Group PLC	60,560	1,478,330
Croda International PLC	9,348	560,787
DCC PLC	8,614	484,582
Diageo PLC	145,976	5,405,707
Entain PLC	5,439	61,925
Halma PLC	25,588	605,421
Hargreaves Lansdown PLC	35,291	333,051
HSBC Holdings PLC	820,020	6,454,644
Imperial Brands PLC	87,028	1,770,721
Informa PLC	17,292	158,378
InterContinental Hotels Group PLC	1,253	92,893
Intertek Group PLC	12,819	643,373
J Sainsbury PLC	109,433	337,661

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE STRATEGICFACTORS ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
JD Sports Fashion PLC	194,559	$ 355,491
Johnson Matthey PLC	22,432	445,736
Kingfisher PLC	112,434	306,437
Land Securities Group PLC REIT	22,814	164,233
Legal & General Group PLC	198,623	539,405
Lloyds Banking Group PLC	3,522,234	1,907,494
London Stock Exchange Group PLC	3,782	380,091
M&G PLC	91,004	219,151
Melrose Industries PLC	30,065	172,177
National Grid PLC	355,225	4,248,984
NatWest Group PLC	233,867	672,797
Next PLC	9,429	839,665
Pearson PLC	59,112	626,543
Persimmon PLC	30,737	404,235
Reckitt Benckiser Group PLC	80,929	5,723,189
RELX PLC	192,940	6,534,927
Rentokil Initial PLC	27,407	204,122
Rolls-Royce Holdings PLC (a)	33,293	89,764
Sage Group PLC	99,150	1,196,863
Schroders PLC	53,044	263,633
Segro PLC REIT	19,695	172,935
Severn Trent PLC	23,836	688,050
Smith & Nephew PLC	9,906	123,689
Smiths Group PLC	5,044	99,704
Spirax-Sarco Engineering PLC	4,262	495,541
SSE PLC	19,958	392,192
St. James's Place PLC	42,755	434,280
Standard Chartered PLC	131,137	1,213,249
Taylor Wimpey PLC	251,775	360,467
Tesco PLC	735,073	2,370,384
Unilever PLC	231,925	11,498,546
United Utilities Group PLC	54,869	635,013
Vodafone Group PLC	1,462,205	1,371,002
Whitbread PLC	3,670	155,167
WPP PLC	38,943	348,409
		91,552,769
UNITED STATES — 9.0%
CRH PLC	16,171	896,478
CSL Ltd.	32,815	5,311,642
Experian PLC	59,548	1,955,854
GSK PLC	515,793	9,392,900
Haleon PLC	82,156	341,789
Holcim AG	15,999	1,028,007
James Hardie Industries PLC CDI (a)	34,374	904,925
Nestle SA	193,237	21,913,431
QIAGEN NV (a)	56,700	2,297,391
Roche Holding AG	69,611	19,057,799
Roche Holding AG Bearer Shares	11,888	3,500,904

Security Description	Shares	Value
Sanofi	63,897	$ 6,865,219
Schneider Electric SE	32,538	5,407,900
Stellantis NV (d)	102,705	1,979,266
Stellantis NV (d)	64,893	1,251,127
Swiss Re AG	10,210	1,052,697
Tenaris SA	9,557	151,625
		83,308,954
TOTAL COMMON STOCKS (Cost $966,673,107)		919,133,057


SHORT-TERM INVESTMENTS — 1.8%
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (f)(g)	26,607	26,613
State Street Navigator Securities Lending Portfolio II (h)(i)	16,583,362	16,583,362
TOTAL SHORT-TERM INVESTMENTS (Cost $16,609,975)		16,609,975
TOTAL INVESTMENTS — 101.0% (Cost $983,283,082)		935,743,032
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.0)%		(9,544,887)
NET ASSETS — 100.0%		$ 926,198,145

(a)	Non-income producing security.
(b)	All or a portion of the shares of the security are on loan at September 30, 2023.
(c)	Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.9% of net assets as of September 30, 2023, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(d)	Reflects separate holdings of the issuer's common stock traded on different securities exchanges.
(e)	Amount is less than 0.05% of net assets.
(f)	The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(g)	The rate shown is the annualized seven-day yield at September 30, 2023.
(h)	The Fund invested in an affiliated entity. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(i)	Investment of cash collateral for securities loaned.

ADR	American Depositary Receipt
CDI	CREST Depository Interest
GDR	Global Depositary Receipt
REIT	Real Estate Investment Trust

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EAFE STRATEGICFACTORS ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of September 30, 2023.

Description	Level 1 – Quoted Prices	Level 2 – Other Significant Observable Inputs	Level 3 – Significant Unobservable Inputs	Total
ASSETS:
INVESTMENTS:
Common Stocks	$919,133,057	$—	$—	$919,133,057
Short-Term Investments	16,609,975	—	—	16,609,975
TOTAL INVESTMENTS	$935,743,032	$—	$—	$935,743,032

Sector Breakdown as of September 30, 2023


		% of Net Assets
	Financials	16.9
	Industrials	15.5
	Health Care	15.3
	Consumer Staples	11.8
	Consumer Discretionary	10.4
	Materials	7.8
	Information Technology	6.6
	Communication Services	5.7
	Utilities	4.0
	Energy	3.7
	Real Estate	1.5
	Short-Term Investments	1.8
	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.)

Affiliate Table

	Number of Shares Held at 9/30/22	Value at 9/30/22	Cost of Purchases	Proceeds from Shares Sold	Realized Gain (Loss)	Change in Unrealized Appreciation/ Depreciation	Number of Shares Held at 9/30/23	Value at 9/30/23	Dividend Income
State Street Institutional Liquid Reserves Fund, Premier Class	219,359	$ 219,403	$ 68,664,387	$ 68,856,309	$(868)	$—	26,607	$ 26,613	$ 38,730
State Street Navigator Securities Lending Portfolio II	21,313,733	21,313,733	196,129,428	200,859,799	—	—	16,583,362	16,583,362	175,326
Total		$21,533,136	$264,793,815	$269,716,108	$(868)	$—		$16,609,975	$214,056

See accompanying notes to financial statements.

Table of Contents

SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF

SCHEDULE OF INVESTMENTS

September 30, 2023

Security Description	Shares	Value
COMMON STOCKS — 99.9%
BRAZIL — 4.5%
Ambev SA	64,443	$ 168,794
B3 SA - Brasil Bolsa Balcao	109,206	268,149
Banco Bradesco SA Preference Shares	78,514	224,317
Banco BTG Pactual SA	2,929	18,182
Banco Santander Brasil SA	5,252	27,335
BB Seguridade Participacoes SA	15,838	98,758
Bradespar SA Preference Shares	1,857	8,429
Braskem SA Class A, Preference Shares (a)	931	3,817
Centrais Eletricas Brasileiras SA	7,615	56,125
Centrais Eletricas Brasileiras SA Class B, Preference Shares	8,687	70,031
Cia Siderurgica Nacional SA	18,918	45,885
Cosan SA	28,559	97,799
Equatorial Energia SA	30,051	192,487
Gerdau SA Preference Shares	14,989	72,262
Grupo Casas Bahia SA (a)	15,945	2,007
Hapvida Participacoes e Investimentos SA (a)(b)	55,682	52,287
Itau Unibanco Holding SA Preference Shares	69,164	375,999
Itausa SA (c)	3	6
Itausa SA (a)(c)	1,291	2,334
Itausa SA Preference Shares	92,887	167,951
Klabin SA	9,012	42,871
Localiza Rent a Car SA	13,786	161,294
Lojas Renner SA	25,402	68,007
Magazine Luiza SA (a)	58,273	24,682
Natura & Co. Holding SA (a)	9,917	28,848
Rumo SA	23,644	107,799
Sendas Distribuidora SA	8,262	20,072
Suzano SA	8,756	94,956
Telefonica Brasil SA	9,874	85,183
TOTVS SA	4,784	25,807
Vale SA	46,926	633,593
WEG SA	21,074	152,712
		3,398,778
CHILE — 0.5%
Banco Santander Chile	1,330,372	61,280
Cencosud SA	28,973	54,648
Empresas CMPC SA	50,016	91,600
Enel Americas SA (a)	651,640	74,402
Falabella SA	10,381	23,076
Sociedad Quimica y Minera de Chile SA Class B, Preference Shares	1,670	98,800
		403,806

Security Description	Shares	Value
CHINA — 30.8%
37 Interactive Entertainment Network Technology Group Co. Ltd. Class A	13,000	$ 38,719
3SBio, Inc. (b)	16,000	13,381
AAC Technologies Holdings, Inc.	9,000	15,399
Addsino Co. Ltd. Class A	12,300	14,502
Agricultural Bank of China Ltd. Class A	63,600	31,426
Agricultural Bank of China Ltd. Class H	351,000	130,866
Aier Eye Hospital Group Co. Ltd. Class A	5,380	13,270
Air China Ltd. Class A (a)	21,800	24,176
Airtac International Group	2,092	63,446
Akeso, Inc. (a)(b)(d)	5,000	22,983
Alibaba Group Holding Ltd. (a)	202,500	2,213,270
Alibaba Group Holding Ltd. ADR (a)	610	52,911
Alibaba Health Information Technology Ltd. (a)(d)	48,000	29,909
Anhui Conch Cement Co. Ltd. Class H	23,000	61,231
Anhui Gujing Distillery Co. Ltd. Class B	1,600	26,762
Anjoy Foods Group Co. Ltd. Class A	900	15,318
ANTA Sports Products Ltd.	17,695	199,163
Autohome, Inc. ADR	673	20,426
AviChina Industry & Technology Co. Ltd. Class H	11,000	5,225
Baidu, Inc. Class A (a)	31,412	535,041
Bank of China Ltd. Class H	966,509	338,137
Bank of Communications Co. Ltd. Class H	169,000	102,282
BBMG Corp. Class A	125,600	37,926
BeiGene Ltd. (a)	8,903	122,316
Beijing E-Hualu Information Technology Co. Ltd. Class A (a)	6,600	31,298
Beijing Enterprises Holdings Ltd.	7,500	25,856
Beijing Enterprises Water Group Ltd.	158,000	34,498
Beijing Shunxin Agriculture Co. Ltd. Class A (a)	5,800	18,421
Beijing Yuanliu Hongyuan Electronic Technology Co. Ltd. Class A	1,100	9,344
BGI Genomics Co. Ltd. Class A	3,000	21,482
Bilibili, Inc. Class Z (a)(d)	2,355	32,565
Bosideng International Holdings Ltd.	58,000	24,957
BYD Co. Ltd. Class A	1,500	48,732
BYD Co. Ltd. Class H	12,136	374,996
BYD Electronic International Co. Ltd.	9,500	43,304

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Caitong Securities Co. Ltd. Class A	45,010	$ 48,681
CGN Power Co. Ltd. Class H (b)	358,000	92,793
China Cinda Asset Management Co. Ltd. Class H	259,000	26,125
China CITIC Bank Corp. Ltd. Class H	193,000	89,700
China Conch Venture Holdings Ltd.	21,500	18,338
China Construction Bank Corp. Class H	1,216,340	686,456
China Eastern Airlines Corp. Ltd. Class A (a)	32,100	19,386
China Everbright Environment Group Ltd.	73,851	25,460
China Feihe Ltd. (b)	30,000	17,697
China Hongqiao Group Ltd.	20,000	19,587
China International Capital Corp. Ltd. Class H (b)	19,200	35,204
China Jinmao Holdings Group Ltd.	8,807	1,136
China Life Insurance Co. Ltd. Class H	120,000	186,929
China Literature Ltd. (a)(b)	2,200	8,048
China Longyuan Power Group Corp. Ltd. Class H	61,000	53,119
China Medical System Holdings Ltd.	11,000	16,658
China Meidong Auto Holdings Ltd.	12,000	6,573
China Mengniu Dairy Co. Ltd.	40,000	134,068
China Merchants Bank Co. Ltd. Class A	18,300	82,812
China Merchants Bank Co. Ltd. Class H	48,000	200,412
China Merchants Port Holdings Co. Ltd.	37,989	47,293
China Minsheng Banking Corp. Ltd. Class H	115,800	39,626
China National Building Material Co. Ltd. Class H	52,000	27,289
China Oilfield Services Ltd. Class H	38,000	45,609
China Overseas Land & Investment Ltd.	38,000	78,796
China Pacific Insurance Group Co. Ltd. Class H	33,800	84,588
China Railway Group Ltd. Class H	158,000	81,503
China Resources Beer Holdings Co. Ltd.	24,000	131,616
China Resources Cement Holdings Ltd.	30,000	7,699
China Resources Gas Group Ltd.	15,900	46,592
China Resources Land Ltd.	36,000	143,414

Security Description	Shares	Value
China Resources Mixc Lifestyle Services Ltd. (b)	7,000	$ 28,244
China Ruyi Holdings Ltd. (a)(d)	52,000	13,478
China State Construction International Holdings Ltd.	22,000	23,146
China Taiping Insurance Holdings Co. Ltd.	42,030	41,859
China Tourism Group Duty Free Corp. Ltd. Class A	1,500	21,817
China Tower Corp. Ltd. Class H (b)	550,000	52,670
China Vanke Co. Ltd. Class H	35,300	38,943
China Yangtze Power Co. Ltd. Class A	15,800	48,230
Chinasoft International Ltd.	16,000	11,400
Chongqing Zhifei Biological Products Co. Ltd. Class A	5,000	33,401
Chow Tai Fook Jewellery Group Ltd.	25,200	37,968
CITIC Securities Co. Ltd. Class A	9,200	27,351
CITIC Securities Co. Ltd. Class H	19,750	40,045
CMOC Group Ltd. Class A	56,000	45,426
CMOC Group Ltd. Class H	54,000	34,681
Contemporary Amperex Technology Co. Ltd. Class A	4,980	138,776
COSCO SHIPPING Holdings Co. Ltd. Class A	32,500	43,760
COSCO SHIPPING Holdings Co. Ltd. Class H	43,350	44,447
Country Garden Holdings Co. Ltd. (a)(d)	133,460	15,507
Country Garden Services Holdings Co. Ltd. (d)	20,000	20,634
CRRC Corp. Ltd. Class H	52,000	25,098
CSPC Pharmaceutical Group Ltd.	130,640	95,747
Daan Gene Co. Ltd. Class A	1,780	2,387
Daqo New Energy Corp. ADR (a)	732	22,158
Dongfang Electric Corp. Ltd. Class A	18,000	38,640
Dongyue Group Ltd.	33,000	24,818
East Buy Holding Ltd. (a)(b)(d)	7,000	33,025
East Money Information Co. Ltd. Class A	7,716	16,098
ENN Energy Holdings Ltd.	9,400	78,015
Eve Energy Co. Ltd. Class A	2,400	14,863
Flat Glass Group Co. Ltd. Class A	6,000	23,322
Flat Glass Group Co. Ltd. Class H (d)	5,000	11,236
Foshan Haitian Flavouring & Food Co. Ltd. Class A	4,488	23,402
Fuyao Glass Industry Group Co. Ltd. Class A	4,100	20,776

See accompanying notes to financial statements.

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SPDR MSCI EMERGING MARKETS FOSSIL FUEL RESERVES FREE ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Ganfeng Lithium Group Co. Ltd. Class A	3,620	$ 22,160
Ganfeng Lithium Group Co. Ltd. Class H (b)	3,880	15,928
GCL Technology Holdings Ltd.	257,000	47,909
GDS Holdings Ltd. ADR (a)(d)	1,440	15,768
GDS Holdings Ltd. Class A (a)	5,240	7,226
Geely Automobile Holdings Ltd.	87,000	102,642
Gemdale Corp. Class A	20,493	19,183
Genscript Biotech Corp. (a)	20,000	52,733
GoerTek, Inc. Class A	12,200	26,424
Goldwind Science & Technology Co. Ltd. Class A	18,239	23,106
Great Wall Motor Co. Ltd. Class H (d)	61,713	73,597
GRG Banking Equipment Co. Ltd. Class A	21,700	36,039
Guangdong Investment Ltd.	72,801	55,587
Guangzhou Automobile Group Co. Ltd. Class H	28,000	13,836
Guangzhou Haige Communications Group, Inc. Co. Class A	24,500	37,898
H World Group Ltd. ADR (a)	2,712	106,934
Haidilao International Holding Ltd. (b)	11,000	29,495
Haier Smart Home Co. Ltd. Class A	21,700	70,291
Haier Smart Home Co. Ltd. Class H	22,400	70,502
Haitong Securities Co. Ltd. Class A	29,000	39,605
Hangzhou First Applied Material Co. Ltd. Class A	3,740	14,661
Hangzhou Silan Microelectronics Co. Ltd. Class A	9,300	31,095
Hangzhou Tigermed Consulting Co. Ltd. Class A	3,400	31,080
Hansoh Pharmaceutical Group Co. Ltd. (b)	18,000	24,500
Hengan International Group Co. Ltd.	12,000	38,229
Hengli Petrochemical Co. Ltd. Class A (a)	5,600	11,068
Hithink RoyalFlush Information Network Co. Ltd. Class A	2,200	45,131
Hoyuan Green Energy Co. Ltd. Class A	1,693	9,732
Hua Hong Semiconductor Ltd. (a)(b)	11,000	27,866
Huaneng Power International, Inc. Class H (a)(d)	118,000	57,253
Huatai Securities Co. Ltd. Class H (b)	63,600	81,207
Hygeia Healthcare Holdings Co. Ltd. Class C (b)(d)	8,200	45,964

Security Description	Shares	Value
Industrial & Commercial Bank of China Ltd. Class A	49,500	$ 31,796
Industrial & Commercial Bank of China Ltd. Class H	652,857	314,264
Industrial Bank Co. Ltd. Class A	17,000	38,010
Innovent Biologics, Inc. (a)(b)(d)	18,500	90,352
Intco Medical Technology Co. Ltd. Class A	1,400	4,295
iQIYI, Inc. ADR (a)(d)	4,014	19,026
JA Solar Technology Co. Ltd. Class A	5,476	19,226
JD Health International, Inc. (a)(b)	15,750	81,647
JD Logistics, Inc. (a)(b)(d)	23,900	30,364
JD.com, Inc. Class A	27,684	406,855
Jiangsu Hengli Hydraulic Co. Ltd. Class A	100	877
Jiangsu Hengrui Pharmaceuticals Co. Ltd. Class A	3,792	23,390
Jiangxi Copper Co. Ltd. Class A	7,100	18,769
Jiangxi Copper Co. Ltd. Class H	17,000	26,655
Jiumaojiu International Holdings Ltd. (b)	14,000	19,056
Joincare Pharmaceutical Group Industry Co. Ltd. Class A	24,500	41,664
JOYY, Inc. ADR	472	17,988
Kanzhun Ltd. ADR (a)	1,872	28,398
KE Holdings, Inc. ADR	7,194	111,651
Kingboard Holdings Ltd.	7,000	15,713
Kingdee International Software Group Co. Ltd. (a)	26,000	32,003
Kingsoft Corp. Ltd.	21,600	78,326
Kuaishou Technology (a)(b)	29,700	238,340
Kweichow Moutai Co. Ltd. Class A	1,100	271,544
Lenovo Group Ltd.	119,880	123,525
Lens Technology Co. Ltd. Class A	12,800	21,574
Li Auto, Inc. Class A (a)	13,504	238,463
Li Ning Co. Ltd.	28,500	119,905
Longfor Group Holdings Ltd. (b)	25,167	45,245
LONGi Green Energy Technology Co. Ltd. Class A	9,280	34,747
Lufax Holding Ltd. ADR	7,932	8,408
Luxshare Precision Industry Co. Ltd. Class A	14,129	57,829
Luzhou Laojiao Co. Ltd. Class A	1,400	41,631
Mango Excellent Media Co. Ltd. Class A	4,100	15,931
Maxscend Microelectronics Co. Ltd. Class A	288	4,613

See accompanying notes to financial statements.

100

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September 30, 2023

Security Description	Shares	Value
Meituan Class B (a)(b)	63,959	$ 935,884
Microport Scientific Corp. (a)(d)	6,708	10,141
Minth Group Ltd.	14,000	36,020
Muyuan Foods Co. Ltd. Class A	6,686	34,771
NanJi E-Commerce Co. Ltd. Class A (a)	15,900	7,791
NARI Technology Co. Ltd. Class A	14,736	44,881
NAURA Technology Group Co. Ltd. Class A	1,500	49,679
NetEase, Inc.	26,130	532,152
New China Life Insurance Co. Ltd. Class H	27,300	65,811
New Oriental Education & Technology Group, Inc. (a)	21,900	133,382
NIO, Inc. ADR (a)	17,929	162,078
Nongfu Spring Co. Ltd. Class H (b)	20,000	114,915
OFILM Group Co. Ltd. Class A (a)	23,800	20,907
Ovctek China, Inc. Class A	1,400	4,935
PDD Holdings, Inc. ADR (a)	6,864	673,152
People's Insurance Co. Group of China Ltd. Class H	115,000	41,261
Pharmaron Beijing Co. Ltd. Class A	2,550	10,885
PICC Property & Casualty Co. Ltd. Class H	124,000	159,278
Ping An Bank Co. Ltd. Class A	15,600	23,981
Ping An Healthcare & Technology Co. Ltd. (a)(b)(d)	8,000	18,672
Ping An Insurance Group Co. of China Ltd. Class A	9,600	63,642
Ping An Insurance Group Co. of China Ltd. Class H	77,500	443,813
Pop Mart International Group Ltd. (b)	11,000	32,515
Postal Savings Bank of China Co. Ltd. Class H (b)	64,000	32,360
Qifu Technology, Inc. ADR	1,179	18,109
RiseSun Real Estate Development Co. Ltd. Class A (a)	21,100	5,908
Sangfor Technologies, Inc. Class A (a)	1,100	14,088
Sany Heavy Equipment International Holdings Co. Ltd.	17,000	26,872
Seazen Holdings Co. Ltd. Class A (a)	6,100	11,094
Shandong Buchang Pharmaceuticals Co. Ltd. Class A	12,770	31,409
Shandong Weigao Group Medical Polymer Co. Ltd. Class H	54,000	47,437

Security Description	Shares	Value
Shanghai Baosight Software Co. Ltd. Class A	15,276	$ 94,729
Shanghai Fosun Pharmaceutical Group Co. Ltd. Class A	11,800	46,321
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd. Class B	66,400	26,958
Shanghai Zhangjiang High-Tech Park Development Co. Ltd. Class A	10,000	32,255
Shanxi Securities Co. Ltd. Class A	32,130	25,357
Shanxi Xinghuacun Fen Wine Factory Co. Ltd. Class A	840	27,613
Shenzhen Kangtai Biological Products Co. Ltd. Class A (a)	4,000	16,070
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. Class A	800	29,626
Shenzhou International Group Holdings Ltd.	11,043	105,751
Silergy Corp.	8,000	75,463
Sinopharm Group Co. Ltd. Class H	22,400	64,925
Smoore International Holdings Ltd. (b)(d)	26,000	23,604
SooChow Securities Co. Ltd. Class A	29,890	34,584
Sungrow Power Supply Co. Ltd. Class A	2,700	33,171
Sunny Optical Technology Group Co. Ltd.	10,500	73,335
Suzhou Dongshan Precision Manufacturing Co. Ltd. Class A	8,000	19,040
TAL Education Group ADR (a)	4,345	39,583
Tencent Holdings Ltd.	78,595	3,072,810
Tencent Music Entertainment Group ADR (a)	5,722	36,506
Thunder Software Technology Co. Ltd. Class A	1,500	15,764
Tianma Microelectronics Co. Ltd. Class A (a)	23,400	29,612
Tingyi Cayman Islands Holding Corp.	24,000	33,525
Tongcheng Travel Holdings Ltd. (a)	16,400	36,017
Tongwei Co. Ltd. Class A	1,500	6,642
Topsports International Holdings Ltd. (b)	28,000	21,272
TravelSky Technology Ltd. Class H	14,000	24,275
Trina Solar Co. Ltd. Class A	3,700	15,525
Trip.com Group Ltd. (a)	7,440	265,231
Tsingtao Brewery Co. Ltd. Class A	7,500	90,032

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Tsingtao Brewery Co. Ltd. Class H	8,000	$ 65,476
Vipshop Holdings Ltd. ADR (a)	8,491	135,941
Walvax Biotechnology Co. Ltd. Class A	7,100	22,940
Wanhua Chemical Group Co. Ltd. Class A	2,500	30,306
Want Want China Holdings Ltd.	113,000	73,728
Weibo Corp. ADR	843	10,571
Weichai Power Co. Ltd. Class A	47,100	81,002
Weichai Power Co. Ltd. Class H	24,000	32,667
Will Semiconductor Co. Ltd. Shanghai Class A	1,420	18,137
Wingtech Technology Co. Ltd. Class A (a)	1,700	10,185
Wuliangye Yibin Co. Ltd. Class A	4,842	103,742
WuXi AppTec Co. Ltd. Class A	5,472	64,726
WuXi AppTec Co. Ltd. Class H (b)(d)	4,980	59,612
Wuxi Biologics Cayman, Inc. (a)(b)	46,000	268,123
Xiaomi Corp. Class B (a)(b)	204,200	321,741
Xinyi Solar Holdings Ltd.	61,281	45,852
XPeng, Inc. Class A (a)(d)	9,890	88,332
Xtep International Holdings Ltd.	20,500	19,003
Yadea Group Holdings Ltd. (b)	24,000	44,557
Yifan Pharmaceutical Co. Ltd. Class A (a)	15,000	28,226
Yihai International Holding Ltd.	8,000	13,790
Yuexiu Property Co. Ltd.	26,000	29,978
Yum China Holdings, Inc.	6,391	356,106
Yunnan Energy New Material Co. Ltd. Class A	1,500	12,332
Zai Lab Ltd. ADR (a)(d)	932	22,657
Zhaojin Mining Industry Co. Ltd. Class H	19,500	27,189
Zhejiang Dahua Technology Co. Ltd. Class A	15,600	47,684
Zhejiang Huayou Cobalt Co. Ltd. Class A	3,550	18,277
Zhejiang NHU Co. Ltd. Class A	14,856	33,114
ZhongAn Online P&C Insurance Co. Ltd. Class H (a)(b)	5,700	16,812
Zhongji Innolight Co. Ltd. Class A	4,000	63,576
Zhongsheng Group Holdings Ltd.	7,500	21,116
Zhuzhou CRRC Times Electric Co. Ltd. Class H	18,400	63,668
Zijin Mining Group Co. Ltd. Class A	37,200	61,934
Zijin Mining Group Co. Ltd. Class H	60,000	91,779

Security Description	Shares	Value
Zoomlion Heavy Industry Science & Technology Co. Ltd. Class A	14,400	$ 13,539
ZTE Corp. Class A	6,100	27,361
ZTE Corp. Class H	9,600	28,989
ZTO Express Cayman, Inc. ADR	5,563	134,458
		23,277,487
COLOMBIA — 0.1%
Bancolombia SA Preference Shares	13,220	88,483
EGYPT — 0.1%
Commercial International Bank Egypt SAE	34,926	67,817
GREECE — 0.5%
Alpha Services & Holdings SA (a)	29,902	39,843
Eurobank Ergasias Services & Holdings SA Class A (a)	34,323	53,019
Hellenic Telecommunications Organization SA	3,083	45,110
JUMBO SA	1,121	30,859
Motor Oil Hellas Corinth Refineries SA	858	21,747
Mytilineos SA	1,341	49,522
National Bank of Greece SA (a)	7,320	41,385
OPAP SA	2,770	46,513
Terna Energy SA	829	12,859
		340,857
HONG KONG — 0.1%
Orient Overseas International Ltd. (d)	2,000	26,686
Sino Biopharmaceutical Ltd.	204,250	73,805
		100,491
HUNGARY — 0.2%
OTP Bank Nyrt	4,810	174,419
INDIA — 14.0%
Adani Energy Solutions Ltd. (a)	5,057	49,342
Adani Green Energy Ltd. (a)	5,017	59,639
Adani Ports & Special Economic Zone Ltd.	11,335	112,632
Adani Total Gas Ltd.	4,388	32,405
Ambuja Cements Ltd.	10,535	53,892
Apollo Hospitals Enterprise Ltd.	948	58,653
Asian Paints Ltd.	4,809	183,059
Aurobindo Pharma Ltd.	9,685	106,640
Avenue Supermarts Ltd. (a)(b)	2,269	100,431
Axis Bank Ltd.	32,832	409,880
Bajaj Auto Ltd.	1,460	89,028
Bajaj Finance Ltd.	2,569	241,637
Bajaj Finserv Ltd.	6,733	124,884
Balkrishna Industries Ltd.	1,569	48,328
Bandhan Bank Ltd. (b)	15,257	46,226
Bharat Electronics Ltd.	91,550	152,471

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Bharat Forge Ltd.	6,150	$ 80,843
Bharti Airtel Ltd.	27,257	304,076
Britannia Industries Ltd.	807	44,092
Cholamandalam Investment & Finance Co. Ltd.	9,079	133,116
Cipla Ltd.	6,047	86,375
Container Corp. of India Ltd.	4,216	36,361
Dabur India Ltd.	9,295	61,742
Divi's Laboratories Ltd.	1,647	74,676
DLF Ltd.	5,443	34,798
Dr Reddy's Laboratories Ltd.	1,998	134,425
Eicher Motors Ltd.	2,058	85,425
Godrej Consumer Products Ltd. (a)	5,972	71,312
Grasim Industries Ltd.	5,481	128,205
Havells India Ltd.	4,420	73,929
HCL Technologies Ltd.	17,490	260,071
HDFC Bank Ltd.	25,000	459,501
HDFC Life Insurance Co. Ltd. (b)	4,449	34,149
Hero MotoCorp Ltd.	882	32,472
Hindalco Industries Ltd.	26,277	155,891
Hindustan Unilever Ltd.	11,875	352,584
ICICI Bank Ltd.	66,240	759,308
ICICI Lombard General Insurance Co. Ltd. (b)	1,825	28,780
Indus Towers Ltd. (a)	14,184	32,744
Info Edge India Ltd.	1,139	57,132
Infosys Ltd.	46,539	804,473
InterGlobe Aviation Ltd. (a)(b)	3,552	101,853
ITC Ltd.	49,897	267,027
Jubilant Foodworks Ltd.	8,933	57,347
Kotak Mahindra Bank Ltd.	5,831	121,878
Larsen & Toubro Ltd.	8,777	319,572
LTIMindtree Ltd. (b)	528	33,126
Lupin Ltd.	3,892	54,894
Mahindra & Mahindra Ltd.	13,760	257,540
Marico Ltd.	7,999	54,101
Maruti Suzuki India Ltd.	1,942	248,139
Muthoot Finance Ltd.	3,623	54,623
Nestle India Ltd.	412	111,665
Page Industries Ltd.	63	29,572
Petronet LNG Ltd.	10,615	30,672
PI Industries Ltd.	1,202	49,981
Power Grid Corp. of India Ltd.	32,014	77,006
Samvardhana Motherson International Ltd.	38,999	45,085
SBI Cards & Payment Services Ltd.	6,371	60,694
SBI Life Insurance Co. Ltd. (b)	1,179	18,534
Shree Cement Ltd.	152	46,612
Shriram Finance Ltd.	5,329	123,170
State Bank of India	32,260	232,526
Sun Pharmaceutical Industries Ltd.	17,835	248,846
Tata Consultancy Services Ltd.	13,355	567,482
Tata Consumer Products Ltd.	5,636	59,515

Security Description	Shares	Value
Tata Elxsi Ltd.	329	$ 28,633
Tata Steel Ltd.	107,862	167,428
Tech Mahindra Ltd.	6,151	90,575
Titan Co. Ltd.	5,191	196,835
Trent Ltd.	3,734	93,535
Tube Investments of India Ltd.	1,242	44,694
UltraTech Cement Ltd.	1,460	145,134
United Spirits Ltd. (a)	5,108	61,958
UPL Ltd.	10,352	76,822
Varun Beverages Ltd.	5,209	59,322
Wipro Ltd.	17,958	87,810
Yes Bank Ltd. (a)	218,570	45,403
		10,565,236
INDONESIA — 1.8%
Bank Central Asia Tbk PT	724,000	413,413
Bank Mandiri Persero Tbk PT	590,000	230,006
Bank Negara Indonesia Persero Tbk PT	140,909	94,137
Bank Rakyat Indonesia Persero Tbk PT	849,367	287,152
Kalbe Farma Tbk PT	353,965	40,195
Sumber Alfaria Trijaya Tbk PT	213,700	40,929
Telkom Indonesia Persero Tbk PT	873,700	211,994
Unilever Indonesia Tbk PT	197,500	47,794
		1,365,620
KUWAIT — 0.7%
Agility Public Warehousing Co. KSC (a)	47,839	86,375
Boubyan Bank KSCP	19,803	38,702
Gulf Bank KSCP	116,583	99,211
Kuwait Finance House KSCP	75,272	178,529
Mabanee Co. KPSC	20,075	53,590
National Bank of Kuwait SAKP	32,998	96,736
		553,143
MALAYSIA — 1.6%
CELCOMDIGI Bhd	111,400	103,683
CIMB Group Holdings Bhd	142,549	164,856
Genting Malaysia Bhd	48,900	26,037
Hartalega Holdings Bhd (a)	17,100	7,248
IHH Healthcare Bhd	75,500	94,069
IOI Corp. Bhd	124,800	105,789
Kossan Rubber Industries Bhd	9,400	2,643
Malayan Banking Bhd	26,928	50,412
Maxis Bhd	93,700	80,624
Petronas Chemicals Group Bhd	67,700	103,671
Petronas Gas Bhd	14,000	50,212
Public Bank Bhd	222,900	192,742
Sime Darby Bhd	75,655	35,610
Sime Darby Plantation Bhd	41,855	38,153
Supermax Corp. Bhd	28,936	5,115
Tenaga Nasional Bhd	47,800	101,703

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Top Glove Corp. Bhd (a)	82,600	$ 13,634
		1,176,201
MEXICO — 2.5%
America Movil SAB de CV	217,917	189,220
Arca Continental SAB de CV	7,537	68,646
Coca-Cola Femsa SAB de CV	8,697	68,451
Fomento Economico Mexicano SAB de CV	16,197	177,390
Gruma SAB de CV Class B	3,769	64,734
Grupo Aeroportuario del Pacifico SAB de CV Class B	8,145	134,249
Grupo Bimbo SAB de CV Class A	29,094	140,661
Grupo Carso SAB de CV Series A1	14,015	102,952
Grupo Financiero Banorte SAB de CV Class O	36,790	309,313
Grupo Financiero Inbursa SAB de CV Class O (a)	52,447	103,424
Industrias Penoles SAB de CV (a)	3,577	42,288
Kimberly-Clark de Mexico SAB de CV Class A	26,855	53,622
Orbia Advance Corp. SAB de CV	29,617	61,710
Promotora y Operadora de Infraestructura SAB de CV	4,030	36,122
Southern Copper Corp.	794	59,780
Wal-Mart de Mexico SAB de CV	72,383	273,230
		1,885,792
PERU — 0.3%
Cia de Minas Buenaventura SAA ADR	5,779	49,237
Credicorp Ltd.	1,143	146,270
		195,507
PHILIPPINES — 0.7%
Aboitiz Equity Ventures, Inc.	71,620	63,485
Ayala Corp.	7,900	87,132
Ayala Land, Inc.	178,580	92,958
BDO Unibank, Inc.	53,588	134,406
SM Investments Corp.	5,030	74,993
SM Prime Holdings, Inc.	100,000	53,556
Universal Robina Corp.	24,690	51,889
		558,419
POLAND — 0.6%
Allegro.eu SA (a)(b)	3,204	23,661
Bank Polska Kasa Opieki SA	3,746	86,633
CD Projekt SA	932	26,732
KGHM Polska Miedz SA	1,743	44,702
LPP SA	14	41,695
Powszechna Kasa Oszczednosci Bank Polski SA (a)	15,658	124,545

Security Description	Shares	Value
Powszechny Zaklad Ubezpieczen SA	11,460	$ 108,613
		456,581
QATAR — 1.0%
Barwa Real Estate Co.	75,973	53,849
Commercial Bank PSQC	72,739	107,910
Industries Qatar QSC	36,387	137,051
Masraf Al Rayan QSC	137,234	84,037
Qatar Islamic Bank SAQ	22,248	113,440
Qatar National Bank QPSC	54,564	230,848
		727,135
ROMANIA — 0.1%
NEPI Rockcastle NV	8,660	47,852
RUSSIA — 0.0%
Mobile TeleSystems PJSC ADR (a)(e)	8,917	—
Polyus PJSC GDR (a)(e)	1,137	—
Sberbank of Russia PJSC (e)	267,268	—
TCS Group Holding PLC GDR (a)(e)	2,150	—
VK Co. Ltd. GDR (a)(e)	1,648	—
VTB Bank PJSC (a)(e)	56,126,000	—
X5 Retail Group NV GDR (a)(e)	2,256	—
Yandex NV Class A (a)(e)	5,874	—
		—
SAUDI ARABIA — 4.1%
ACWA Power Co.	1,049	54,709
Advanced Petrochemical Co.	4,404	47,088
Al Rajhi Bank	27,990	506,745
Alinma Bank	7,667	68,279
Almarai Co. JSC	2,728	46,261
Arab National Bank	6,515	41,691
Bank AlBilad	4,152	46,829
Bank Al-Jazira (a)	8,201	36,736
Banque Saudi Fransi	8,620	83,891
Bupa Arabia for Cooperative Insurance Co.	1,112	61,671
Dar Al Arkan Real Estate Development Co. (a)	16,739	70,340
Dr Sulaiman Al Habib Medical Services Group Co.	1,146	71,991
Elm Co.	815	169,500
Emaar Economic City (a)	5,147	10,979
Etihad Etisalat Co.	6,681	79,361
Jarir Marketing Co.	9,809	37,924
Mouwasat Medical Services Co.	1,278	35,098
National Industrialization Co. Class C (a)	4,408	14,927
Rabigh Refining & Petrochemical Co. (a)	13,087	37,826
Riyad Bank	16,335	120,864
SABIC Agri-Nutrients Co.	1,900	67,379

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Sahara International Petrochemical Co.	9,294	$ 93,672
Saudi Arabian Mining Co. (a)	22,279	239,693
Saudi Awwal Bank	12,307	113,211
Saudi Basic Industries Corp.	9,181	201,958
Saudi Electricity Co.	6,072	30,858
Saudi Industrial Investment Group	3,600	22,807
Saudi Investment Bank	6,408	26,996
Saudi Kayan Petrochemical Co. (a)	9,891	32,966
Saudi National Bank	36,940	323,063
Saudi Telecom Co.	22,007	220,630
Savola Group	2,758	26,510
Yanbu National Petrochemical Co.	2,728	30,259
		3,072,712
SOUTH AFRICA — 3.1%
Absa Group Ltd.	11,332	105,161
Anglo American Platinum Ltd.	653	24,470
Bid Corp. Ltd. (d)	7,536	168,905
Bidvest Group Ltd. (d)	8,583	124,275
Capitec Bank Holdings Ltd. (d)	558	50,836
Clicks Group Ltd.	3,723	51,114
FirstRand Ltd.	69,196	234,554
Gold Fields Ltd. (d)	14,224	155,012
Growthpoint Properties Ltd. REIT	55,183	30,902
Harmony Gold Mining Co. Ltd. (d)	6,567	24,756
Impala Platinum Holdings Ltd. (d)	8,853	46,456
MTN Group Ltd.	26,320	157,660
Naspers Ltd. Class N	2,832	454,811
Nedbank Group Ltd.	6,082	65,319
Northam Platinum Holdings Ltd.	3,726	22,709
Old Mutual Ltd.	16,653	10,660
Sanlam Ltd.	29,724	103,611
Shoprite Holdings Ltd. (d)	9,115	116,041
Sibanye Stillwater Ltd. (d)	29,930	46,437
Standard Bank Group Ltd.	22,032	214,854
Vodacom Group Ltd.	12,743	71,536
Woolworths Holdings Ltd. (d)	11,343	40,840
		2,320,919
SOUTH KOREA — 12.8%
Alteogen, Inc. (a)	387	19,531
AMOREPACIFIC Group	645	14,555
Celltrion Healthcare Co. Ltd.	935	43,653
Celltrion Pharm, Inc. (a)	301	14,901
Celltrion, Inc.	1,621	167,217
Coway Co. Ltd.	1,583	48,450
Doosan Enerbility Co. Ltd. (a)	3,671	44,697
Ecopro BM Co. Ltd.	580	108,745
Ecopro Co. Ltd.	204	136,212

Security Description	Shares	Value
Hana Financial Group, Inc.	2,845	$ 89,499
Hanwha Solutions Corp. (a)	1,326	29,234
Helixmith Co. Ltd. (a)	113	368
HLB, Inc. (a)	1,425	31,681
HMM Co. Ltd.	3,436	41,403
Hyundai Engineering & Construction Co. Ltd.	3,141	84,379
Hyundai Glovis Co. Ltd.	685	93,608
Hyundai Mobis Co. Ltd.	1,201	214,051
Hyundai Motor Co.	2,312	327,422
Hyundai Motor Co. Preference Shares	862	67,138
Hyundai Steel Co.	1,658	46,752
Industrial Bank of Korea	11,245	93,417
Kakao Corp.	3,126	101,814
KB Financial Group, Inc.	5,960	244,248
Kia Corp.	4,158	250,823
Korea Zinc Co. Ltd.	252	94,495
Krafton, Inc. (a)	295	32,924
KT&G Corp.	2,407	153,938
Kumho Petrochemical Co. Ltd.	223	22,161
L&F Co. Ltd.	286	36,751
LG Chem Ltd.	732	269,333
LG Corp.	1,717	106,629
LG Electronics, Inc.	2,033	152,015
LG Energy Solution Ltd. (a)	228	80,511
LG H&H Co. Ltd.	182	60,222
LG Innotek Co. Ltd.	146	26,454
Lotte Chemical Corp.	439	44,603
LX Holdings Corp.	836	4,647
NAVER Corp.	1,905	284,465
NCSoft Corp.	342	56,392
POSCO Future M Co. Ltd.	250	66,604
POSCO Holdings, Inc.	1,133	449,203
Samsung Biologics Co. Ltd. (a)(b)	193	97,401
Samsung C&T Corp.	1,356	108,126
Samsung Electronics Co. Ltd.	58,659	2,973,377
Samsung Electronics Co. Ltd. Preference Shares	10,718	432,882
Samsung Fire & Marine Insurance Co. Ltd.	620	119,690
Samsung SDI Co. Ltd.	873	331,241
Samsung SDS Co. Ltd.	963	96,486
Seegene, Inc.	454	7,183
Shin Poong Pharmaceutical Co. Ltd. (a)	423	4,827
Shinhan Financial Group Co. Ltd.	8,204	216,439
SK Bioscience Co. Ltd. (a)	348	17,459
SK Chemicals Co. Ltd.	97	4,536
SK Hynix, Inc.	8,008	680,686
SK Innovation Co. Ltd. (a)	679	74,874
SK Square Co. Ltd. (a)	531	16,704
SK Telecom Co. Ltd.	827	31,869
S-Oil Corp.	1,532	89,917

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Woori Financial Group, Inc.	11,636	$ 105,719
		9,664,561
TAIWAN — 15.9%
Accton Technology Corp.	5,000	76,362
Advantech Co. Ltd.	6,000	64,125
ASE Technology Holding Co. Ltd.	62,656	212,538
Asustek Computer, Inc.	15,000	170,536
AUO Corp.	32,400	16,461
Catcher Technology Co. Ltd.	3,000	16,961
Cathay Financial Holding Co. Ltd.	144,403	199,289
Chailease Holding Co. Ltd.	19,890	111,525
Chang Hwa Commercial Bank Ltd.	117,210	62,634
China Airlines Ltd.	37,000	24,300
China Development Financial Holding Corp. (a)	325,257	118,896
China Steel Corp.	206,000	161,134
Chunghwa Telecom Co. Ltd.	51,000	183,269
Compal Electronics, Inc.	64,000	60,866
CTBC Financial Holding Co. Ltd.	291,000	220,861
E Ink Holdings, Inc.	15,000	83,409
E.Sun Financial Holding Co. Ltd.	229,332	172,281
eMemory Technology, Inc.	1,000	62,422
Eva Airways Corp.	37,000	34,100
Evergreen Marine Corp. Taiwan Ltd.	14,600	52,465
Far Eastern New Century Corp.	53,000	47,203
First Financial Holding Co. Ltd.	223,656	183,952
Formosa Chemicals & Fibre Corp.	49,397	94,110
Formosa Plastics Corp.	67,000	165,629
Fubon Financial Holding Co. Ltd.	130,987	246,307
Global Unichip Corp.	1,000	42,286
Globalwafers Co. Ltd.	2,000	28,097
Hon Hai Precision Industry Co. Ltd.	169,980	547,635
Hotai Motor Co. Ltd.	5,100	103,484
Hua Nan Financial Holdings Co. Ltd. Class C	135,030	85,752
Innolux Corp. (a)	57,380	23,375
Inventec Corp.	30,000	45,538
Largan Precision Co. Ltd.	1,000	66,139
Lite-On Technology Corp.	35,000	131,736
MediaTek, Inc.	19,000	432,614
Mega Financial Holding Co. Ltd.	190,134	222,055
Nan Ya Plastics Corp.	73,000	150,611
Nan Ya Printed Circuit Board Corp.	4,000	33,023
Novatek Microelectronics Corp.	8,000	104,831
Pegatron Corp.	41,000	97,291

Security Description	Shares	Value
President Chain Store Corp.	10,394	$ 84,522
Quanta Computer, Inc.	40,000	296,774
Realtek Semiconductor Corp.	8,000	97,892
Shanghai Commercial & Savings Bank Ltd.	48,000	64,311
SinoPac Financial Holdings Co. Ltd.	131,559	70,914
Taishin Financial Holding Co. Ltd.	265,038	146,967
Taiwan Cement Corp.	105,743	108,919
Taiwan Cooperative Financial Holding Co. Ltd.	170,763	135,423
Taiwan Mobile Co. Ltd.	26,000	76,195
Taiwan Semiconductor Manufacturing Co. Ltd.	308,734	5,002,025
Unimicron Technology Corp.	11,000	59,122
Uni-President Enterprises Corp.	71,000	154,183
United Microelectronics Corp.	200,602	280,888
Voltronic Power Technology Corp.	1,000	49,101
Wan Hai Lines Ltd.	11,500	17,207
Wistron Corp.	28,000	88,041
Wiwynn Corp.	1,000	46,313
Yageo Corp.	4,000	65,055
Yang Ming Marine Transport Corp.	12,000	16,896
Yuanta Financial Holding Co. Ltd.	255,244	198,072
		12,014,922
THAILAND — 1.6%
Advanced Info Service PCL NVDR	28,777	180,190
Airports of Thailand PCL NVDR (a)	97,986	187,697
Bangkok Dusit Medical Services PCL NVDR	215,900	158,608
BTS Group Holdings PCL	353,900	72,894
CP ALL PCL NVDR	109,500	181,936
Delta Electronics Thailand PCL	45,200	102,720
Energy Absolute PCL	19,800	27,732
Minor International PCL NVDR	111,552	95,736
PTT Global Chemical PCL NVDR	75,574	71,605
SCB X PCL NVDR	28,216	79,427
Siam Cement PCL	10,400	85,971
		1,244,516
TURKEY — 0.8%
Aselsan Elektronik Sanayi Ve Ticaret AS	52,004	77,394
BIM Birlesik Magazalar AS	12,652	126,774
Eregli Demir ve Celik Fabrikalari TAS (a)	18,974	30,813
Turk Hava Yollari AO (a)	14,222	125,801
Turkcell Iletisim Hizmetleri AS (a)	21,794	42,372

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Turkiye Is Bankasi AS Class C	101,673	$ 95,461
Turkiye Petrol Rafinerileri AS	17,181	99,645
		598,260
UNITED ARAB EMIRATES — 1.3%
Abu Dhabi Commercial Bank PJSC	80,522	189,629
Abu Dhabi Islamic Bank PJSC	22,083	67,697
Aldar Properties PJSC	134,006	210,145
Dubai Islamic Bank PJSC	24,390	38,846
Emirates NBD Bank PJSC	11,271	54,620
Emirates Telecommunications Group Co. PJSC	41,866	232,978
First Abu Dhabi Bank PJSC	38,780	143,589
Multiply Group PJSC (a)	63,661	69,328
		1,006,832
UNITED STATES — 0.2%
JBS SA	19,335	69,727
Legend Biotech Corp. ADR (a)	732	49,168
Parade Technologies Ltd.	1,000	30,483
		149,378
TOTAL COMMON STOCKS (Cost $83,349,763)		75,455,724


RIGHTS — 0.0% (f)
BRAZIL — 0.0% (f)
Localiza Rent a Car SA (expiring 11/30/23) (a)	101	323
SHORT-TERM INVESTMENTS — 0.7%
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (g)(h)	24,040	24,045
State Street Navigator Securities Lending Portfolio II (i)(j)	520,327	520,327
TOTAL SHORT-TERM INVESTMENTS (Cost $544,372)		544,372
TOTAL INVESTMENTS — 100.6% (Cost $83,894,135)		76,000,419
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.6)%		(473,662)
NET ASSETS — 100.0%		$ 75,526,757

(a)	Non-income producing security.
(b)	Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 4.6% of net assets as of September 30, 2023, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(c)	Reflects separate holdings of the issuer's common stock traded on different securities exchanges.
(d)	All or a portion of the shares of the security are on loan at September 30, 2023.
(e)	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 September 30, 2023, total aggregate fair value of the securities is $0, representing 0.00% of the Fund's net assets.
(f)	Amount is less than 0.05% of net assets.
(g)	The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(h)	The rate shown is the annualized seven-day yield at September 30, 2023.
(i)	The Fund invested in an affiliated entity. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(j)	Investment of cash collateral for securities loaned.

ADR	American Depositary Receipt
GDR	Global Depositary Receipt
NVDR	Non-Voting Depositary Receipt
REIT	Real Estate Investment Trust

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of September 30, 2023.

Description	Level 1 – Quoted Prices	Level 2 – Other Significant Observable Inputs	Level 3 – Significant Unobservable Inputs	Total
ASSETS:
INVESTMENTS:
Common Stocks	$75,166,407	$289,317	$ 0(a)	$75,455,724
Rights	323	—	0(a)	323
Short-Term Investments	544,372	—	—	544,372
TOTAL INVESTMENTS	$ 75,711,102	$289,317	$ 0	$76,000,419

(a)	The Fund held Level 3 securities that were valued at $0 at September 30, 2023.

Sector Breakdown as of September 30, 2023


		% of Net Assets
	Financials	23.4
	Information Technology	22.2
	Consumer Discretionary	14.3
	Communication Services	10.1
	Materials	7.9
	Consumer Staples	7.1
	Industrials	6.5
	Health Care	4.2
	Utilities	1.8
	Real Estate	1.7
	Energy	0.7
	Short-Term Investments	0.7
	Liabilities in Excess of Other Assets	(0.6)
	TOTAL	100.0

(The Fund's sector breakdown is expressed as a percentage of net assets and may change over time.)

Affiliate Table

	Number of Shares Held at 9/30/22	Value at 9/30/22	Cost of Purchases	Proceeds from Shares Sold	Realized Gain (Loss)	Change in Unrealized Appreciation/ Depreciation	Number of Shares Held at 9/30/23	Value at 9/30/23	Dividend Income
State Street Institutional Liquid Reserves Fund, Premier Class	231,518	$ 231,565	$ 3,914,921	$ 4,122,261	$(170)	$(10)	24,040	$ 24,045	$3,293
State Street Navigator Securities Lending Portfolio II	778,513	778,513	7,786,568	8,044,754	—	—	520,327	520,327	6,077
Total		$1,010,078	$11,701,489	$12,167,015	$(170)	$(10)		$544,372	$9,370

See accompanying notes to financial statements.

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SPDR MSCI EMERGING MARKETS STRATEGICFACTORS ETF

SCHEDULE OF INVESTMENTS

September 30, 2023

Security Description	Shares	Value
COMMON STOCKS — 99.8%
BRAZIL — 5.4%
Ambev SA	2,323	$ 6,085
Ambev SA ADR	4,660	12,023
Atacadao SA	2,330	4,143
B3 SA - Brasil Bolsa Balcao	5,307	13,031
Banco Bradesco SA Preference Shares	22,467	64,189
Banco do Brasil SA	4,506	42,474
Banco Santander Brasil SA	1,156	6,016
BB Seguridade Participacoes SA	15,387	95,946
CCR SA	906	2,333
Centrais Eletricas Brasileiras SA	3,661	26,983
Centrais Eletricas Brasileiras SA Preference Shares ADR	919	7,554
Centrais Eletricas Brasileiras SA Class B, Preference Shares	116	935
Cia de Saneamento Basico do Estado de Sao Paulo SABESP	56	683
Cia de Saneamento Basico do Estado de Sao Paulo SABESP ADR	840	10,181
Cia Energetica de Minas Gerais ADR	2,688	6,505
Cia Energetica de Minas Gerais Preference Shares	1,617	4,009
Cia Siderurgica Nacional SA	289	701
Cia Siderurgica Nacional SA ADR	5,063	12,101
Cosan SA	1,942	6,650
CPFL Energia SA	3,720	24,980
Energisa SA	375	3,503
Engie Brasil Energia SA	1,541	12,755
Equatorial Energia SA	2,531	16,212
Gerdau SA Preference Shares	6,378	30,748
Hapvida Participacoes e Investimentos SA (a)(b)	16,322	15,327
Hypera SA	1,843	13,676
Itau Unibanco Holding SA Preference Shares	385	2,093
Itau Unibanco Holding SA Preference Shares ADR	13,647	73,284
Itausa SA (b)	293	530
Itausa SA Preference Shares	22,477	40,641
Klabin SA	487	2,317
Localiza Rent a Car SA	2,522	29,507
Lojas Renner SA	4,085	10,936
Magazine Luiza SA (b)	1,582	670
Natura & Co. Holding SA (b)	2,460	7,156
Petroleo Brasileiro SA	11,736	88,843
Petroleo Brasileiro SA ADR	6,038	90,510
Petroleo Brasileiro SA Preference Shares	11,295	78,170

Security Description	Shares	Value
Petroleo Brasileiro SA Preference Shares ADR	8,920	$ 122,293
PRIO SA (b)	12,225	114,893
Raia Drogasil SA	4,155	22,928
Rumo SA	2,705	12,333
Sendas Distribuidora SA	7,728	18,775
Suzano SA	542	5,878
Suzano SA ADR	2,739	29,444
Telefonica Brasil SA	1,074	9,265
Telefonica Brasil SA ADR	821	7,020
TIM SA	172	512
TIM SA ADR (c)	546	8,135
TOTVS SA	1,217	6,565
Ultrapar Participacoes SA	46	172
Ultrapar Participacoes SA ADR	3,389	12,438
Vale SA	11,033	148,967
Vale SA ADR	64,727	867,342
Vibra Energia SA	6,449	24,378
WEG SA	28,611	207,329
		2,483,067
CHILE — 0.6%
Banco de Chile	246,399	24,958
Banco de Credito e Inversiones SA	563	14,341
Banco Santander Chile	12,286	566
Banco Santander Chile ADR (c)	303	5,557
Cencosud SA	8,735	16,476
Cia Sud Americana de Vapores SA	220,254	13,141
Empresas CMPC SA	3,190	5,842
Empresas Copec SA	1,231	8,681
Enel Americas SA (b)	168,106	19,194
Enel Chile SA	8,051	487
Enel Chile SA ADR	333	986
Falabella SA	2,184	4,855
Sociedad Quimica y Minera de Chile SA ADR	132	7,876
Sociedad Quimica y Minera de Chile SA Class B, Preference Shares	2,231	131,989
		254,949
CHINA — 24.1%
360 Security Technology, Inc. Class A (b)	17,400	23,476
37 Interactive Entertainment Network Technology Group Co. Ltd. Class A	2,700	8,042
3SBio, Inc. (a)	9,390	7,853
AAC Technologies Holdings, Inc.	1,500	2,566
Agricultural Bank of China Ltd. Class A	53,900	26,633
Agricultural Bank of China Ltd. Class H	831,000	309,827
Air China Ltd. Class H (b)	4,000	2,702

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Alibaba Group Holding Ltd. (b)	31,149	$ 340,450
Alibaba Group Holding Ltd. ADR (b)	213	18,215
Aluminum Corp. of China Ltd. Class H	18,000	10,067
Anhui Conch Cement Co. Ltd. Class A	3,000	10,718
Anhui Conch Cement Co. Ltd. Class H	9,500	25,291
Anhui Gujing Distillery Co. Ltd. Class A	200	7,461
Anhui Gujing Distillery Co. Ltd. Class B	4,500	75,270
Anhui Kouzi Distillery Co. Ltd. Class A	600	4,262
Anjoy Foods Group Co. Ltd. Class A	700	11,914
ANTA Sports Products Ltd.	19,400	218,353
Autohome, Inc. ADR	277	8,407
AviChina Industry & Technology Co. Ltd. Class H	23,000	10,925
Baidu, Inc. Class A (b)	4,364	74,332
Bank of Beijing Co. Ltd. Class A	24,400	15,506
Bank of Chengdu Co. Ltd. Class A	1,400	2,644
Bank of China Ltd. Class A	19,500	10,090
Bank of China Ltd. Class H	1,283,071	448,887
Bank of Communications Co. Ltd. Class A	96,600	76,370
Bank of Communications Co. Ltd. Class H	116,000	70,206
Bank of Hangzhou Co. Ltd. Class A	2,600	3,983
Bank of Jiangsu Co. Ltd. Class A	14,160	13,954
Bank of Nanjing Co. Ltd. Class A	4,300	4,751
Bank of Ningbo Co. Ltd. Class A	4,200	15,490
Bank of Shanghai Co. Ltd. Class A	31,570	26,735
Baoshan Iron & Steel Co. Ltd. Class A	9,100	7,606
BeiGene Ltd. (b)	322	4,424
Beijing Capital International Airport Co. Ltd. Class H (b)	46,000	21,321
Beijing Enterprises Holdings Ltd.	5,500	18,961
Beijing Enterprises Water Group Ltd.	44,000	9,607
Beijing Wantai Biological Pharmacy Enterprise Co. Ltd. Class A	2,124	13,988
Beijing-Shanghai High Speed Railway Co. Ltd. Class A	38,800	27,320
BOC Aviation Ltd. (a)	900	6,280

Security Description	Shares	Value
BOE Technology Group Co. Ltd. Class A	128,500	$ 68,079
BYD Co. Ltd. Class H	1,000	30,899
BYD Electronic International Co. Ltd.	3,000	13,675
CGN Power Co. Ltd. Class H (a)	294,100	76,230
Changchun High & New Technology Industry Group, Inc. Class A, NVDR	900	17,171
Chaozhou Three-Circle Group Co. Ltd. Class A	2,400	10,212
China Cinda Asset Management Co. Ltd. Class H	53,548	5,401
China CITIC Bank Corp. Ltd. Class H	236,000	109,685
China Coal Energy Co. Ltd. Class H	10,000	7,840
China Communications Services Corp. Ltd. Class H	46,000	19,324
China Conch Venture Holdings Ltd.	13,000	11,088
China Construction Bank Corp. Class A	31,100	26,892
China Construction Bank Corp. Class H	1,009,394	569,664
China Everbright Bank Co. Ltd. Class A	15,800	6,658
China Everbright Bank Co. Ltd. Class H	29,274	8,784
China Everbright Environment Group Ltd.	22,888	7,891
China Feihe Ltd. (a)	60,000	35,394
China Galaxy Securities Co. Ltd. Class H	27,334	14,100
China Gas Holdings Ltd.	16,800	15,852
China Hongqiao Group Ltd. (c)	20,000	19,587
China International Capital Corp. Ltd. Class H (a)	3,600	6,601
China Jinmao Holdings Group Ltd.	50,178	6,471
China Life Insurance Co. Ltd. Class H	63,000	98,138
China Longyuan Power Group Corp. Ltd. Class H	12,000	10,450
China Medical System Holdings Ltd.	23,733	35,940
China Meidong Auto Holdings Ltd.	4,000	2,191
China Mengniu Dairy Co. Ltd.	11,000	36,869
China Merchants Bank Co. Ltd. Class A	5,891	26,658
China Merchants Bank Co. Ltd. Class H	17,000	70,979
China Merchants Port Holdings Co. Ltd.	4,552	5,667

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
China Minsheng Banking Corp. Ltd. Class A	81,200	$ 42,797
China Minsheng Banking Corp. Ltd. Class H	63,960	21,887
China National Building Material Co. Ltd. Class H	52,000	27,289
China National Nuclear Power Co. Ltd. Class A	2,100	2,104
China Oilfield Services Ltd. Class H	8,000	9,602
China Overseas Land & Investment Ltd.	22,500	46,656
China Overseas Property Holdings Ltd.	20,000	22,574
China Pacific Insurance Group Co. Ltd. Class A	2,800	10,987
China Pacific Insurance Group Co. Ltd. Class H	10,600	26,528
China Petroleum & Chemical Corp. Class A	14,000	11,664
China Petroleum & Chemical Corp. Class H	204,395	111,699
China Power International Development Ltd. (c)	22,000	8,006
China Railway Group Ltd. Class A	17,500	16,381
China Railway Group Ltd. Class H	54,000	27,855
China Railway Signal & Communication Corp. Ltd. Class A	22,692	16,445
China Resources Beer Holdings Co. Ltd.	4,092	22,441
China Resources Cement Holdings Ltd.	24,000	6,159
China Resources Gas Group Ltd.	3,300	9,670
China Resources Land Ltd.	10,444	41,606
China Resources Pharmaceutical Group Ltd. (a)	17,500	11,619
China Resources Power Holdings Co. Ltd.	4,267	8,140
China Shenhua Energy Co. Ltd. Class A	2,400	10,278
China Shenhua Energy Co. Ltd. Class H	18,000	58,377
China Southern Airlines Co. Ltd. Class H (b)(c)	18,000	8,757
China State Construction Engineering Corp. Ltd. Class A	15,500	11,765
China State Construction International Holdings Ltd.	2,000	2,104
China Taiping Insurance Holdings Co. Ltd.	17,810	17,738
China Tourism Group Duty Free Corp. Ltd. Class A	2,300	33,453

Security Description	Shares	Value
China Tower Corp. Ltd. Class H (a)	1,116,000	$ 106,871
China Traditional Chinese Medicine Holdings Co. Ltd.	4,000	1,864
China United Network Communications Ltd. Class A	79,600	53,644
China Vanke Co. Ltd. Class A	2,400	4,309
China Vanke Co. Ltd. Class H	11,892	13,119
China Yangtze Power Co. Ltd. Class A	42,600	130,038
China Zhenhua Group Science & Technology Co. Ltd. Class A	1,100	12,225
China Zheshang Bank Co. Ltd. Class A	37,790	13,278
Chongqing Brewery Co. Ltd. Class A	800	9,362
Chongqing Rural Commercial Bank Co. Ltd. Class A	35,500	19,490
Chongqing Zhifei Biological Products Co. Ltd. Class A	6,400	42,753
Chow Tai Fook Jewellery Group Ltd.	13,400	20,189
CITIC Ltd.	44,000	40,450
CITIC Securities Co. Ltd. Class H	6,300	12,774
CMOC Group Ltd. Class H	6,000	3,854
COSCO SHIPPING Holdings Co. Ltd. Class A	5,400	7,271
COSCO SHIPPING Holdings Co. Ltd. Class H	29,250	29,990
COSCO SHIPPING Ports Ltd.	8,558	5,595
Country Garden Holdings Co. Ltd. (b)(c)	249,635	29,006
Country Garden Services Holdings Co. Ltd. (c)	3,000	3,095
CRRC Corp. Ltd. Class H	25,000	12,066
CSPC Pharmaceutical Group Ltd.	171,840	125,942
Daqo New Energy Corp. ADR (b)	1,560	47,221
Dongfeng Motor Group Co. Ltd. Class H	42,000	16,571
Ecovacs Robotics Co. Ltd. Class A	700	4,660
ENN Energy Holdings Ltd.	2,700	22,409
Far East Horizon Ltd. (c)	1,000	720
Focus Media Information Technology Co. Ltd. Class A	14,700	14,426
Foshan Haitian Flavouring & Food Co. Ltd. Class A	6,739	35,139
Fosun International Ltd.	11,000	6,952
Fuyao Glass Industry Group Co. Ltd. Class A	900	4,561
Fuyao Glass Industry Group Co. Ltd. Class H (a)	3,600	16,502

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Ganfeng Lithium Group Co. Ltd. Class A	3,100	$ 18,977
Ganfeng Lithium Group Co. Ltd. Class H (a)	6,800	27,914
GCL Technology Holdings Ltd.	356,000	66,365
GDS Holdings Ltd. Class A (b)	368	507
Geely Automobile Holdings Ltd.	20,000	23,596
GF Securities Co. Ltd. Class H	2,000	2,686
Great Wall Motor Co. Ltd. Class H (c)	7,000	8,348
Gree Electric Appliances, Inc. of Zhuhai Class A	5,300	26,406
Greentown China Holdings Ltd.	12,000	12,457
Guangdong Haid Group Co. Ltd. Class A	5,500	34,159
Guangdong Investment Ltd.	26,000	19,852
Guangzhou Automobile Group Co. Ltd. Class H	23,200	11,464
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd. Class A	3,200	13,800
Guangzhou Haige Communications Group, Inc. Co. Class A	1,200	1,856
Guangzhou Kingmed Diagnostics Group Co. Ltd. Class A	1,000	8,559
Guangzhou Shiyuan Electronic Technology Co. Ltd. Class A	1,400	9,740
H World Group Ltd. ADR (b)	47	1,853
Haidilao International Holding Ltd. (a)	1,000	2,681
Haier Smart Home Co. Ltd. Class H	7,800	24,550
Hainan Airlines Holding Co. Ltd. Class A (b)	86,300	17,531
Haitong Securities Co. Ltd. Class H	10,000	6,001
Hansoh Pharmaceutical Group Co. Ltd. (a)	8,000	10,889
Henan Shuanghui Investment & Development Co. Ltd. Class A	13,200	47,812
Hengan International Group Co. Ltd.	17,374	55,349
Hithink RoyalFlush Information Network Co. Ltd. Class A	700	14,360
Huadong Medicine Co. Ltd. Class A	960	5,566
Hualan Biological Engineering, Inc. Class A	5,740	17,490
Huaneng Power International, Inc. Class A (b)	1,400	1,512
Huaneng Power International, Inc. Class H (b)(c)	18,000	8,734
Huatai Securities Co. Ltd. Class H (a)	4,443	5,673
Huaxia Bank Co. Ltd. Class A	33,000	25,908

Security Description	Shares	Value
Huayu Automotive Systems Co. Ltd. Class A	1,000	$ 2,576
Hundsun Technologies, Inc. Class A	4,740	21,111
IEIT Systems Co. Ltd. Class A	700	3,613
Iflytek Co. Ltd. Class A	4,000	27,813
Imeik Technology Development Co. Ltd. Class A	400	21,426
Industrial & Commercial Bank of China Ltd. Class A	34,600	22,225
Industrial & Commercial Bank of China Ltd. Class H	792,448	381,459
Industrial Bank Co. Ltd. Class A	10,100	22,582
Ingenic Semiconductor Co. Ltd. Class A	1,300	13,152
Inner Mongolia BaoTou Steel Union Co. Ltd. Class A (b)	121,300	28,636
Inner Mongolia Yili Industrial Group Co. Ltd. Class A	2,600	9,468
Inner Mongolia Yitai Coal Co. Ltd. Class B (b)	12,600	17,627
iQIYI, Inc. ADR (b)(c)	432	2,048
JA Solar Technology Co. Ltd. Class A	3,300	11,586
Jason Furniture Hangzhou Co. Ltd. Class A	1,040	5,780
JD.com, Inc. Class A	7,112	104,521
Jiangsu Expressway Co. Ltd. Class H	66,000	59,580
Jiangsu Hengli Hydraulic Co. Ltd. Class A	1,400	12,279
Jiangsu Hengrui Pharmaceuticals Co. Ltd. Class A	7,742	47,754
Jiangsu King's Luck Brewery JSC Ltd. Class A	2,300	18,521
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd. Class A	1,100	19,537
Jiangxi Copper Co. Ltd. Class A	16,000	42,296
Jiangxi Copper Co. Ltd. Class H	23,000	36,063
JiuGui Liquor Co. Ltd. Class A	600	7,264
Jointown Pharmaceutical Group Co. Ltd. Class A	7,258	10,789
Jonjee Hi-Tech Industrial & Commercial Holding Co. Ltd. Class A (b)	1,100	5,215
JOYY, Inc. ADR	185	7,050
Juewei Food Co. Ltd. Class A	500	2,579
KE Holdings, Inc. ADR	839	13,021
Kingboard Holdings Ltd.	2,000	4,489
Kuaishou Technology (a)(b)	1,900	15,247
Kunlun Energy Co. Ltd.	12,000	10,342
Kweichow Moutai Co. Ltd. Class A	1,600	394,974
Lenovo Group Ltd.	166,915	171,991

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Lepu Medical Technology Beijing Co. Ltd. Class A	1,000	$ 2,255
Li Auto, Inc. Class A (b)	800	14,127
Li Ning Co. Ltd.	2,000	8,414
Lingyi iTech Guangdong Co. Class A	20,100	15,780
Longfor Group Holdings Ltd. (a)	13,854	24,907
LONGi Green Energy Technology Co. Ltd. Class A	1,260	4,718
Lufax Holding Ltd. ADR	6,056	6,419
Luzhou Laojiao Co. Ltd. Class A	2,100	62,446
Meituan Class B (a)(b)	1,847	27,026
Metallurgical Corp. of China Ltd. Class A	15,900	8,009
Microport Scientific Corp. (b)(c)	1,404	2,123
Muyuan Foods Co. Ltd. Class A	2,000	10,401
NavInfo Co. Ltd. Class A (b)	3,700	5,144
NetEase, Inc.	1,835	37,371
New China Life Insurance Co. Ltd. Class H	9,700	23,383
New Oriental Education & Technology Group, Inc. (b)	2,730	16,627
Ningbo Deye Technology Co. Ltd. Class A	540	5,740
Ningxia Baofeng Energy Group Co. Ltd. Class A	3,200	6,281
NIO, Inc. ADR (b)	177	1,600
Nongfu Spring Co. Ltd. Class H (a)	53,000	304,526
Oppein Home Group, Inc. Class A	480	6,317
Ovctek China, Inc. Class A	960	3,384
PDD Holdings, Inc. ADR (b)	7,872	772,007
People's Insurance Co. Group of China Ltd. Class H	404,000	144,952
Perfect World Co. Ltd. Class A	2,150	3,895
PetroChina Co. Ltd. Class A	23,100	25,301
PetroChina Co. Ltd. Class H	126,000	94,920
PICC Property & Casualty Co. Ltd. Class H	48,270	62,003
Ping An Bank Co. Ltd. Class A	900	1,384
Ping An Insurance Group Co. of China Ltd. Class A	2,400	15,911
Ping An Insurance Group Co. of China Ltd. Class H	20,500	117,396
Poly Developments & Holdings Group Co. Ltd. Class A	1,000	1,749
Postal Savings Bank of China Co. Ltd. Class H (a)	188,000	95,058
Power Construction Corp. of China Ltd. Class A	4,600	3,378
Qifu Technology, Inc. ADR	2,037	31,288
SAIC Motor Corp. Ltd. Class A	4,600	9,344
Sangfor Technologies, Inc. Class A (b)	900	11,526

Security Description	Shares	Value
SDIC Power Holdings Co. Ltd. Class A	15,900	$ 25,686
SF Holding Co. Ltd. Class A	3,100	17,360
SG Micro Corp. Class A	780	8,326
Shaanxi Coal Industry Co. Ltd. Class A	14,600	36,992
Shandong Gold Mining Co. Ltd. Class A	6,652	22,926
Shandong Gold Mining Co. Ltd. Class H (a)	21,250	40,211
Shandong Hualu Hengsheng Chemical Co. Ltd. Class A	1,000	4,406
Shandong Nanshan Aluminum Co. Ltd. Class A	17,400	7,499
Shandong Weigao Group Medical Polymer Co. Ltd. Class H	5,600	4,919
Shanghai Aiko Solar Energy Co. Ltd. Class A	4,200	12,861
Shanghai Baosight Software Co. Ltd. Class A	2,132	13,221
Shanghai Baosight Software Co. Ltd. Class B	37,660	79,274
Shanghai Construction Group Co. Ltd. Class A	22,800	8,606
Shanghai Fosun Pharmaceutical Group Co. Ltd. Class H	2,000	4,699
Shanghai Friendess Electronic Technology Corp. Ltd. Class A	164	5,614
Shanghai International Airport Co. Ltd. Class A (b)	1,400	7,281
Shanghai M&G Stationery, Inc. Class A	2,800	14,027
Shanghai Pharmaceuticals Holding Co. Ltd. Class H	14,200	22,156
Shanghai Pudong Development Bank Co. Ltd. Class A	34,424	33,546
Shanghai RAAS Blood Products Co. Ltd. Class A	8,800	8,407
Shanxi Xinghuacun Fen Wine Factory Co. Ltd. Class A	2,160	71,004
Shennan Circuits Co. Ltd. Class A	480	4,386
Shenzhen Inovance Technology Co. Ltd. Class A	300	2,738
Shenzhen International Holdings Ltd.	5,863	3,616
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. Class A	2,300	85,175
Shenzhen Transsion Holdings Co. Ltd. Class A	933	18,663
Shenzhou International Group Holdings Ltd.	1,400	13,407
Sichuan Chuantou Energy Co. Ltd. Class A	14,699	29,859

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Sichuan Swellfun Co. Ltd. Class A	2,000	$ 16,558
Silergy Corp.	5,000	47,165
Sinopec Shanghai Petrochemical Co. Ltd. Class A (b)	22,616	9,623
Sinopharm Group Co. Ltd. Class H	30,800	89,271
Smoore International Holdings Ltd. (a)	4,000	3,631
Songcheng Performance Development Co. Ltd. Class A	7,540	12,646
Sunny Optical Technology Group Co. Ltd.	1,393	9,729
TAL Education Group ADR (b)	1,041	9,484
TCL Technology Group Corp. Class A (b)	12,420	6,955
TCL Zhonghuan Renewable Energy Technology Co. Ltd. Class A	6,250	20,056
Tencent Holdings Ltd.	6,278	245,450
Thunder Software Technology Co. Ltd. Class A	600	6,306
Tianjin 712 Communication & Broadcasting Co. Ltd. Class A	1,300	4,511
Tianshui Huatian Technology Co. Ltd. Class A	6,800	8,381
Tingyi Cayman Islands Holding Corp.	36,000	50,287
Tongling Nonferrous Metals Group Co. Ltd. Class A	14,200	6,217
Tongwei Co. Ltd. Class A	9,100	40,293
Topchoice Medical Corp. Class A (b)	200	2,421
Topsports International Holdings Ltd. (a)	23,000	17,474
TravelSky Technology Ltd. Class H	7,000	12,138
Trip.com Group Ltd. (b)	684	24,384
Unigroup Guoxin Microelectronics Co. Ltd. Class A (b)	979	11,717
Vipshop Holdings Ltd. ADR (b)	1,798	28,786
Walvax Biotechnology Co. Ltd. Class A	2,100	6,785
Wanhua Chemical Group Co. Ltd. Class A	1,000	12,122
Want Want China Holdings Ltd.	139,000	90,692
Weibo Corp. ADR	231	2,897
Weichai Power Co. Ltd. Class H	12,000	16,333
Wuliangye Yibin Co. Ltd. Class A	4,500	96,414
WuXi AppTec Co. Ltd. Class H (a)(c)	520	6,225

Security Description	Shares	Value
Wuxi Biologics Cayman, Inc. (a)(b)	1,000	$ 5,829
Xiaomi Corp. Class B (a)(b)	35,000	55,147
Xinjiang Daqo New Energy Co. Ltd. Class A	6,122	33,972
Xinyi Solar Holdings Ltd.	3,501	2,620
XPeng, Inc. Class A (b)(c)	1,000	8,931
Yadea Group Holdings Ltd. (a)	24,000	44,557
Yankuang Energy Group Co. Ltd. Class A	6,100	16,954
Yankuang Energy Group Co. Ltd. Class H (c)	44,000	83,148
Yantai Jereh Oilfield Services Group Co. Ltd. Class A	400	1,751
Yealink Network Technology Corp. Ltd. Class A	5,970	29,204
Yihai International Holding Ltd.	6,000	10,342
Yonyou Network Technology Co. Ltd. Class A	3,000	6,844
Yuexiu Property Co. Ltd.	11,960	13,790
Yum China Holdings, Inc.	1,005	55,999
Yunnan Baiyao Group Co. Ltd. Class A	1,940	14,192
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. Class A	600	22,664
Zhejiang Dahua Technology Co. Ltd. Class A	2,400	7,336
Zhejiang Dingli Machinery Co. Ltd. Class A	700	5,068
Zhejiang Expressway Co. Ltd. Class H	14,000	10,439
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd. Class A	1,200	7,858
Zhejiang Jiuzhou Pharmaceutical Co. Ltd. Class A	1,400	5,569
Zhejiang Supor Co. Ltd. Class A	1,000	6,654
Zhejiang Weixing New Building Materials Co. Ltd. Class A	1,300	3,256
Zhongji Innolight Co. Ltd. Class A	1,400	22,252
Zhongsheng Group Holdings Ltd.	4,500	12,669
Zhuzhou CRRC Times Electric Co. Ltd. Class H	1,900	6,574
Zhuzhou Kibing Group Co. Ltd. Class A	4,700	5,290
Zijin Mining Group Co. Ltd. Class A	12,100	20,145
Zijin Mining Group Co. Ltd. Class H	2,000	3,059
Zoomlion Heavy Industry Science & Technology Co. Ltd. Class A	2,247	2,113
ZTE Corp. Class A	9,300	41,715
ZTE Corp. Class H	4,080	12,320

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
ZTO Express Cayman, Inc. ADR	292	$ 7,058
		11,081,658
COLOMBIA — 0.0% (d)
Bancolombia SA	694	5,285
Bancolombia SA ADR (c)	247	6,590
Bancolombia SA Preference Shares	396	2,650
Interconexion Electrica SA ESP	1,319	4,864
		19,389
CZECH REPUBLIC — 0.3%
CEZ AS	3,427	145,995
Komercni Banka AS	62	1,811
Moneta Money Bank AS (a)	2,545	9,271
		157,077
EGYPT — 0.3%
Commercial International Bank Egypt SAE	18,116	35,177
Commercial International Bank Egypt SAE GDR	71,684	94,479
Eastern Co. SAE	33,545	26,141
		155,797
GREECE — 0.7%
Alpha Services & Holdings SA (b)	11,522	15,352
Eurobank Ergasias Services & Holdings SA Class A (b)	29,750	45,955
FF Group (b)(e)	491	—
Hellenic Telecommunications Organization SA	7,950	116,324
JUMBO SA	2,179	59,983
Motor Oil Hellas Corinth Refineries SA	405	10,265
National Bank of Greece SA (b)	2,516	14,225
OPAP SA	4,677	78,535
		340,639
HONG KONG — 0.2%
China Common Rich Renewable Energy Investments Ltd. (b)(e)	598,000	—
China Huishan Dairy Holdings Co. Ltd. (b)(e)	1,072,393	—
Nine Dragons Paper Holdings Ltd. (b)	22,000	12,360
Orient Overseas International Ltd. (c)	2,500	33,358
Sino Biopharmaceutical Ltd.	88,000	31,798
		77,516
HUNGARY — 0.2%
MOL Hungarian Oil & Gas PLC	4,021	30,631
OTP Bank Nyrt	723	26,217
Richter Gedeon Nyrt	913	22,192
		79,040

Security Description	Shares	Value
INDIA — 18.7%
ABB India Ltd.	352	$ 17,372
Adani Green Energy Ltd. (b)	1,025	12,185
Adani Ports & Special Economic Zone Ltd.	834	8,287
Ambuja Cements Ltd.	850	4,348
Apollo Hospitals Enterprise Ltd.	183	11,322
Asian Paints Ltd.	8,432	320,973
Aurobindo Pharma Ltd.	681	7,498
Axis Bank Ltd.	4,378	54,656
Bajaj Auto Ltd.	2,628	160,250
Bajaj Finserv Ltd.	532	9,868
Balkrishna Industries Ltd.	325	10,010
Bandhan Bank Ltd. (a)	1,509	4,572
Berger Paints India Ltd. (f)	4,560	31,237
Berger Paints India Ltd. (b)(f)	912	6,247
Bharat Electronics Ltd.	66,390	110,568
Bharat Forge Ltd.	163	2,143
Bharat Petroleum Corp. Ltd.	4,749	19,822
Bharti Airtel Ltd.	17,724	197,727
Britannia Industries Ltd.	3,084	168,501
CG Power & Industrial Solutions Ltd.	10,438	55,583
Cipla Ltd.	6,904	98,616
Coal India Ltd.	35,309	125,519
Colgate-Palmolive India Ltd.	3,132	75,642
Container Corp. of India Ltd.	100	862
Dabur India Ltd.	23,831	158,297
Divi's Laboratories Ltd.	2,750	124,687
Dr Reddy's Laboratories Ltd.	88	5,921
Dr Reddy's Laboratories Ltd. ADR	1,250	83,587
Eicher Motors Ltd.	2,171	90,116
GAIL India Ltd. GDR	1,175	10,516
Godrej Consumer Products Ltd. (b)	810	9,672
Grasim Industries Ltd.	785	18,362
Havells India Ltd.	3,798	63,525
HCL Technologies Ltd.	27,326	406,330
HDFC Life Insurance Co. Ltd. (a)	1,920	14,737
Hero MotoCorp Ltd.	2,192	80,701
Hindalco Industries Ltd.	6,245	37,049
Hindustan Aeronautics Ltd.	2,668	61,949
Hindustan Petroleum Corp. Ltd. (b)	8,690	26,680
Hindustan Unilever Ltd.	18,075	536,670
ICICI Bank Ltd.	311	3,565
ICICI Bank Ltd. ADR	2,553	59,025
ICICI Lombard General Insurance Co. Ltd. (a)	3,482	54,911
Indian Hotels Co. Ltd.	3,817	18,896
Indian Oil Corp. Ltd.	24,759	27,117
Indian Railway Catering & Tourism Corp. Ltd.	4,131	33,870
Indraprastha Gas Ltd.	5,827	31,917
Infosys Ltd.	35,841	619,547

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Infosys Ltd. ADR (c)	26,121	$ 446,930
ITC Ltd.	52,036	278,474
Jio Financial Services Ltd. (b)	2,101	5,850
JSW Steel Ltd.	2,007	18,842
Jubilant Foodworks Ltd.	422	2,709
Kotak Mahindra Bank Ltd.	1,233	25,772
Larsen & Toubro Ltd.	29	1,056
Larsen & Toubro Ltd. GDR	783	28,423
LTIMindtree Ltd. (a)	1,512	94,860
Lupin Ltd.	3,567	50,310
Mahindra & Mahindra Ltd.	75	1,404
Mahindra & Mahindra Ltd. GDR	1,723	32,479
Marico Ltd.	23,307	157,637
Maruti Suzuki India Ltd.	252	32,199
Max Healthcare Institute Ltd.	7,037	48,082
Mphasis Ltd.	1,646	47,108
MRF Ltd.	71	91,737
Nestle India Ltd.	897	243,116
NTPC Ltd.	15,406	45,555
Oil & Natural Gas Corp. Ltd.	14,147	32,684
Page Industries Ltd.	242	113,592
Petronet LNG Ltd.	14,048	40,592
Pidilite Industries Ltd.	5,801	170,416
Power Grid Corp. of India Ltd.	11,688	28,115
REC Ltd.	12,882	44,584
Reliance Industries Ltd.	2,101	59,330
Reliance Industries Ltd. GDR (a)	1,808	101,067
Samvardhana Motherson International Ltd.	1,857	2,147
SBI Life Insurance Co. Ltd. (a)	390	6,131
Shree Cement Ltd.	21	6,440
Shriram Finance Ltd.	270	6,241
Siemens Ltd.	425	18,796
SRF Ltd.	2,155	58,374
State Bank of India GDR	416	30,035
Sun Pharmaceutical Industries Ltd.	6,998	97,641
Tata Consultancy Services Ltd.	24,670	1,048,281
Tata Elxsi Ltd.	627	54,568
Tata Motors Ltd.	3,258	24,725
Tata Steel Ltd.	771	1,197
Tata Steel Ltd. GDR	3,625	55,644
Tech Mahindra Ltd.	14,280	210,276
Titan Co. Ltd.	7,378	279,763
Torrent Pharmaceuticals Ltd.	2,485	57,728
Trent Ltd.	1,440	36,071
Tube Investments of India Ltd.	1,582	56,929
UltraTech Cement Ltd.	118	11,730
United Spirits Ltd. (b)	140	1,698
UPL Ltd.	1,509	11,198
Varun Beverages Ltd.	6,604	75,208
Vedanta Ltd.	3,449	9,243
Wipro Ltd.	17,904	87,546

Security Description	Shares	Value
Yes Bank Ltd. (b)	38,002	$ 7,894
		8,589,882
INDONESIA — 2.4%
Adaro Energy Indonesia Tbk PT	303,900	56,041
Astra International Tbk PT	48,100	19,374
Bank Central Asia Tbk PT	1,106,025	631,554
Bank Mandiri Persero Tbk PT	88,000	34,306
Bank Negara Indonesia Persero Tbk PT	14,900	9,954
Bank Rakyat Indonesia Persero Tbk PT	126,749	42,851
Charoen Pokphand Indonesia Tbk PT (b)	17,500	6,143
GoTo Gojek Tokopedia Tbk PT (b)	1,436,000	7,898
Indah Kiat Pulp & Paper Tbk PT	12,000	8,618
Indofood Sukses Makmur Tbk PT	24,300	10,416
Kalbe Farma Tbk PT	338,900	38,484
Semen Indonesia Persero Tbk PT	9,812	4,079
Sumber Alfaria Trijaya Tbk PT	253,800	48,609
Telkom Indonesia Persero Tbk PT	338,975	82,249
Unilever Indonesia Tbk PT	165,500	40,050
United Tractors Tbk PT	29,000	53,009
		1,093,635
KUWAIT — 1.0%
Agility Public Warehousing Co. KSC (b)	6,796	12,271
Kuwait Finance House KSCP	37,516	88,980
Mobile Telecommunications Co. KSCP	87,297	137,562
National Bank of Kuwait SAKP	72,769	213,327
		452,140
LUXEMBOURG — 0.0% (d)
Reinet Investments SCA	755	16,661
MALAYSIA — 1.9%
AMMB Holdings Bhd	14,400	11,348
Axiata Group Bhd	4,704	2,495
CELCOMDIGI Bhd	45,700	42,534
CIMB Group Holdings Bhd	30,632	35,426
Dialog Group Bhd	1,100	497
Genting Bhd	10,600	9,414
Genting Malaysia Bhd	9,400	5,005
Hong Leong Bank Bhd	19,020	78,993
Hong Leong Financial Group Bhd	900	3,393
IHH Healthcare Bhd	64,700	80,612
Inari Amertron Bhd	800	494
IOI Corp. Bhd	10,800	9,155
Kuala Lumpur Kepong Bhd	1,376	6,271
Malayan Banking Bhd	91,940	172,121

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Malaysia Airports Holdings Bhd	1,207	$ 1,833
Maxis Bhd	14,100	12,132
MISC Bhd	26,000	39,206
MR DIY Group M Bhd (a)	121,550	39,091
Nestle Malaysia Bhd	4,300	115,851
Petronas Chemicals Group Bhd	24,000	36,752
Petronas Dagangan Bhd	4,300	20,496
PPB Group Bhd	11,560	38,113
Public Bank Bhd	55,055	47,606
RHB Bank Bhd	6,224	7,198
Sime Darby Bhd	12,727	5,990
Sime Darby Plantation Bhd	5,367	4,892
Telekom Malaysia Bhd	5,359	5,593
Tenaga Nasional Bhd	28,300	60,213
		892,724
MEXICO — 2.0%
America Movil SAB de CV	99,162	86,104
Arca Continental SAB de CV	388	3,534
Cemex SAB de CV Series CPO (b)	60,202	39,388
Coca-Cola Femsa SAB de CV	2,212	17,410
Fibra Uno Administracion SA de CV REIT	13,118	21,928
Fomento Economico Mexicano SAB de CV	2,950	32,308
Gruma SAB de CV Class B	1,100	18,893
Grupo Aeroportuario del Pacifico SAB de CV Class B	1,078	17,768
Grupo Aeroportuario del Sureste SAB de CV Class B	190	4,664
Grupo Bimbo SAB de CV Class A	804	3,887
Grupo Carso SAB de CV Series A1	854	6,273
Grupo Financiero Banorte SAB de CV Class O	5,953	50,050
Grupo Financiero Inbursa SAB de CV Class O (b)	8,781	17,316
Grupo Mexico SAB de CV Class B	6,884	32,676
Grupo Televisa SAB Series CPO	8,195	4,994
Industrias Penoles SAB de CV (b)	540	6,384
Kimberly-Clark de Mexico SAB de CV Class A	1,872	3,738
Orbia Advance Corp. SAB de CV	2,068	4,309
Promotora y Operadora de Infraestructura SAB de CV	208	1,864
Southern Copper Corp.	1,505	113,311
Wal-Mart de Mexico SAB de CV	112,069	423,036
		909,835

Security Description	Shares	Value
PERU — 0.3%
Cia de Minas Buenaventura SAA ADR	4,740	$ 40,385
Credicorp Ltd.	674	86,252
		126,637
PHILIPPINES — 0.7%
Aboitiz Equity Ventures, Inc.	14,300	12,676
Ayala Corp.	510	5,625
Ayala Land, Inc.	5,600	2,915
Bank of the Philippine Islands	38,477	76,171
BDO Unibank, Inc.	17,076	42,829
International Container Terminal Services, Inc.	14,210	52,042
JG Summit Holdings, Inc.	7,614	5,127
Jollibee Foods Corp.	4,960	20,111
Manila Electric Co.	9,480	61,663
Metropolitan Bank & Trust Co.	16,116	15,382
PLDT, Inc.	416	8,647
SM Investments Corp.	755	11,256
SM Prime Holdings, Inc.	11,100	5,945
		320,389
POLAND — 0.5%
Bank Polska Kasa Opieki SA	779	18,016
CD Projekt SA	112	3,213
Cyfrowy Polsat SA (b)	1,628	4,507
Dino Polska SA (a)(b)	855	69,535
KGHM Polska Miedz SA	489	12,541
ORLEN SA	5,053	67,951
PGE Polska Grupa Energetyczna SA (b)	7,635	13,115
Powszechna Kasa Oszczednosci Bank Polski SA (b)	2,875	22,868
Powszechny Zaklad Ubezpieczen SA	1,599	15,155
Santander Bank Polska SA (b)	114	9,402
		236,303
QATAR — 1.5%
Barwa Real Estate Co.	4,885	3,463
Commercial Bank PSQC	2,430	3,605
Dukhan Bank	39,857	43,470
Industries Qatar QSC	25,297	95,281
Masraf Al Rayan QSC	157,927	96,709
Mesaieed Petrochemical Holding Co.	6,949	3,541
Ooredoo QPSC	21,545	63,274
Qatar Electricity & Water Co. QSC	14,532	70,105
Qatar Fuel QSC	20,615	93,447
Qatar Islamic Bank SAQ	11,551	58,897
Qatar National Bank QPSC	31,625	133,798
		665,590
ROMANIA — 0.0% (d)
NEPI Rockcastle NV	895	4,946

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
RUSSIA — 0.0%
Alrosa PJSC (e)	72,138	$ —
Gazprom PJSC ADR (b)(e)	50,071	—
Inter RAO UES PJSC (b)(e)	435,055	—
LUKOIL PJSC (e)	3,065	—
MMC Norilsk Nickel PJSC ADR (b)(e)	1,589	—
Mobile TeleSystems PJSC ADR (b)(e)	2,361	—
Moscow Exchange MICEX-Rates PJSC (e)	5,004	—
Novatek PJSC GDR (b)(e)	169	—
Novolipetsk Steel PJSC (b)(e)	6,756	—
Novolipetsk Steel PJSC GDR (b)(e)	2,685	—
PhosAgro PJSC GDR (b)(e)	401	—
Polyus PJSC (b)(e)	81	—
Polyus PJSC GDR (b)(e)	1,392	—
Rosneft Oil Co. PJSC (e)	15,529	—
Sberbank of Russia PJSC (e)	57,120	—
Severstal PAO GDR (b)(e)	5,724	—
Surgutneftegas PJSC ADR (b)(c)(e)(f)	9,158	—
Surgutneftegas PJSC Preference Shares ADR (b)(c)(e)(f)	34,802	—
Tatneft PJSC ADR (b)(e)	1,514	—
TCS Group Holding PLC GDR (b)(e)	3,373	—
VTB Bank PJSC (b)(e)	32,335,040	—
X5 Retail Group NV GDR (b)(e)	820	—
Yandex NV Class A (b)(e)	480	—
		—
SAUDI ARABIA — 6.1%
Advanced Petrochemical Co.	3,274	35,006
Al Rajhi Bank	9,527	172,481
Alinma Bank	4,875	43,415
Arab National Bank	2,405	15,390
Arabian Internet & Communications Services Co.	757	64,509
Bank AlBilad	1,383	15,598
Bank Al-Jazira (b)	1,938	8,681
Banque Saudi Fransi	2,214	21,547
Bupa Arabia for Cooperative Insurance Co.	1,954	108,369
Dallah Healthcare Co.	386	14,676
Dar Al Arkan Real Estate Development Co. (b)	17,682	74,303
Dr Sulaiman Al Habib Medical Services Group Co.	1,754	110,185
Elm Co.	636	132,272
Etihad Etisalat Co.	13,574	161,240
Jarir Marketing Co.	43,754	169,162
Mobile Telecommunications Co. Saudi Arabia	22,506	78,972

Security Description	Shares	Value
Mouwasat Medical Services Co.	1,481	$ 40,673
Nahdi Medical Co.	834	32,066
National Industrialization Co. Class C (b)	844	2,858
Rabigh Refining & Petrochemical Co. (b)	1,406	4,064
Riyad Bank	2,404	17,787
SABIC Agri-Nutrients Co.	7,167	254,159
Sahara International Petrochemical Co.	654	6,592
Saudi Arabian Mining Co. (b)	1,132	12,179
Saudi Arabian Oil Co. (a)	67,218	627,293
Saudi Awwal Bank	2,594	23,862
Saudi Basic Industries Corp.	6,292	138,407
Saudi Electricity Co.	14,266	72,501
Saudi Kayan Petrochemical Co. (b)	1,230	4,099
Saudi National Bank	6,708	58,666
Saudi Research & Media Group (b)	137	6,005
Saudi Tadawul Group Holding Co.	51	2,624
Saudi Telecom Co.	23,194	232,531
Savola Group	1,808	17,379
Yanbu National Petrochemical Co.	2,080	23,071
		2,802,622
SOUTH AFRICA — 1.9%
Absa Group Ltd.	1,606	14,904
African Rainbow Minerals Ltd. (c)	2,238	20,206
Anglo American Platinum Ltd.	1,574	58,982
Aspen Pharmacare Holdings Ltd. (c)	1,010	9,211
Bid Corp. Ltd. (c)	717	16,070
Bidvest Group Ltd. (c)	1,164	16,854
Capitec Bank Holdings Ltd.	1,470	133,922
Clicks Group Ltd.	5,195	71,323
Discovery Ltd. (b)	896	6,523
Exxaro Resources Ltd. (c)	6,254	57,224
FirstRand Ltd.	11,955	40,524
Gold Fields Ltd. (c)	1,338	14,581
Growthpoint Properties Ltd. REIT	6,101	3,417
Harmony Gold Mining Co. Ltd. (c)	1,005	3,789
Impala Platinum Holdings Ltd. (c)	15,941	83,651
Kumba Iron Ore Ltd.	1,379	33,290
MTN Group Ltd.	4,281	25,644
Naspers Ltd. Class N	205	32,922
Nedbank Group Ltd.	1,743	18,719
Old Mutual Ltd.	24,597	15,746
Remgro Ltd.	1,674	13,195
Sanlam Ltd.	5,192	18,098

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Sasol Ltd.	3,329	$ 46,123
Shoprite Holdings Ltd. (c)	1,360	17,314
Sibanye Stillwater Ltd.	20,045	31,100
Standard Bank Group Ltd.	4,317	42,099
Vodacom Group Ltd.	1,428	8,016
Woolworths Holdings Ltd.	3,480	12,529
		865,976
SOUTH KOREA — 8.3%
Amorepacific Corp.	57	5,153
BGF retail Co. Ltd.	215	22,466
Celltrion Healthcare Co. Ltd.	253	11,812
Celltrion, Inc.	156	16,092
CJ CheilJedang Corp.	74	16,836
Coway Co. Ltd.	1,753	53,653
DB Insurance Co. Ltd.	541	35,842
Doosan Bobcat, Inc.	124	4,687
Doosan Enerbility Co. Ltd. (b)	408	4,968
F&F Co. Ltd.	275	23,029
Hana Financial Group, Inc.	3,129	98,433
Hankook Tire & Technology Co. Ltd.	396	11,621
Hanmi Pharm Co. Ltd.	7	1,551
Hanwha Solutions Corp. (b)	390	8,598
HD Hyundai Co. Ltd.	787	38,668
HD Korea Shipbuilding & Offshore Engineering Co. Ltd. (b)	149	12,257
HLB, Inc. (b)	41	912
HMM Co. Ltd.	4,026	48,512
Hotel Shilla Co. Ltd.	1,444	90,638
Hyundai Engineering & Construction Co. Ltd.	434	11,659
Hyundai Glovis Co. Ltd.	87	11,889
Hyundai Mobis Co. Ltd.	323	57,567
Hyundai Motor Co.	635	89,928
Hyundai Motor Co. GDR	208	8,112
Hyundai Motor Co. Preference Shares (c)(f)	315	24,721
Hyundai Motor Co. Preference Shares (c)(f)	459	35,750
Hyundai Steel Co.	626	17,652
Industrial Bank of Korea	2,583	21,458
Kakao Corp.	340	11,074
Kangwon Land, Inc.	2,825	31,612
KB Financial Group, Inc.	721	29,547
KB Financial Group, Inc. ADR (c)	2,551	104,872
Kia Corp.	1,296	78,179
Korea Aerospace Industries Ltd.	142	5,135
Korea Electric Power Corp. (b)	2,797	37,351
Korea Electric Power Corp. ADR (b)	3,913	25,200
Korea Investment Holdings Co. Ltd.	149	5,863
Korea Zinc Co. Ltd.	10	3,750

Security Description	Shares	Value
Korean Air Lines Co. Ltd.	534	$ 8,607
Krafton, Inc. (b)	68	7,589
KT Corp.	1,292	31,740
KT&G Corp.	1,978	126,502
Kumho Petrochemical Co. Ltd.	229	22,757
LG Chem Ltd.	110	40,474
LG Corp.	236	14,656
LG Display Co. Ltd. (b)	1,297	12,601
LG Display Co. Ltd. ADR (b)	1,566	7,642
LG Electronics, Inc.	719	53,762
LG H&H Co. Ltd.	51	16,875
LG Innotek Co. Ltd.	245	44,392
LG Uplus Corp.	5,208	39,984
Lotte Chemical Corp.	141	14,326
Meritz Financial Group, Inc.	272	11,127
Mirae Asset Securities Co. Ltd.	2,670	12,762
NAVER Corp.	336	50,173
NCSoft Corp.	59	9,728
Netmarble Corp. (a)(b)	215	6,708
Orion Corp.	644	61,231
Pan Ocean Co. Ltd.	2,929	10,766
Pearl Abyss Corp. (b)	105	3,626
POSCO Holdings, Inc.	252	99,911
POSCO Holdings, Inc. ADR (c)	873	89,482
Posco International Corp.	417	22,064
Samsung Biologics Co. Ltd. (a)(b)	167	84,280
Samsung C&T Corp.	777	61,957
Samsung Electro-Mechanics Co. Ltd.	149	15,172
Samsung Electronics Co. Ltd.	15,173	769,107
Samsung Electronics Co. Ltd. Preference Shares	4,616	186,432
Samsung Engineering Co. Ltd. (b)	362	8,115
Samsung Fire & Marine Insurance Co. Ltd.	216	41,699
Samsung Heavy Industries Co. Ltd. (b)	1,938	11,260
Samsung Life Insurance Co. Ltd.	397	20,683
Samsung SDI Co. Ltd.	68	25,801
Samsung SDS Co. Ltd.	1,064	106,605
Samsung Securities Co. Ltd.	270	7,353
Shinhan Financial Group Co. Ltd.	761	20,077
Shinhan Financial Group Co. Ltd. ADR	3,083	81,669
SK Bioscience Co. Ltd. (b)	74	3,713
SK Hynix, Inc.	2,581	219,387
SK Innovation Co. Ltd. (b)	287	31,648
SK Square Co. Ltd. (b)	347	10,916
SK, Inc.	367	39,762
S-Oil Corp.	180	10,565
Woori Financial Group, Inc.	4,945	44,928

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Yuhan Corp.	1,769	$ 99,370
		3,837,031
TAIWAN — 16.4%
Accton Technology Corp.	12,000	183,268
Acer, Inc.	11,258	12,660
Advantech Co. Ltd.	19,220	205,415
ASE Technology Holding Co. Ltd.	10,124	34,342
Asia Cement Corp.	10,200	12,560
Asustek Computer, Inc.	12,000	136,429
AUO Corp.	27,600	14,022
Catcher Technology Co. Ltd.	2,000	11,307
Cathay Financial Holding Co. Ltd.	38,179	52,690
Chailease Holding Co. Ltd.	1,838	10,306
Chang Hwa Commercial Bank Ltd.	13,821	7,386
Cheng Shin Rubber Industry Co. Ltd.	6,000	7,899
China Development Financial Holding Corp. (b)	72,300	26,429
China Steel Corp.	53,440	41,801
Chunghwa Telecom Co. Ltd.	60,540	217,550
Compal Electronics, Inc.	161,000	153,117
CTBC Financial Holding Co. Ltd.	57,900	43,944
Delta Electronics, Inc.	3,623	36,420
E Ink Holdings, Inc.	14,000	77,849
E.Sun Financial Holding Co. Ltd.	115,704	86,920
Eclat Textile Co. Ltd.	3,379	50,977
eMemory Technology, Inc.	1,000	62,422
Evergreen Marine Corp. Taiwan Ltd.	8,626	30,998
Far Eastern New Century Corp.	8,560	7,624
Far EasTone Telecommunications Co. Ltd.	74,449	167,669
Feng TAY Enterprise Co. Ltd.	8,037	45,562
First Financial Holding Co. Ltd.	284,484	233,982
Formosa Chemicals & Fibre Corp.	10,000	19,052
Formosa Petrochemical Corp.	13,000	32,459
Formosa Plastics Corp.	20,000	49,442
Fubon Financial Holding Co. Ltd.	22,703	42,690
Giant Manufacturing Co. Ltd.	1,036	5,729
Gigabyte Technology Co. Ltd.	2,000	17,441
Global Unichip Corp.	2,000	84,571
Globalwafers Co. Ltd.	4,000	56,195
Hon Hai Precision Industry Co. Ltd.	76,730	247,206
Hua Nan Financial Holdings Co. Ltd. Class C	290,116	184,241
Innolux Corp. (b)	40,065	16,321
Inventec Corp.	89,000	135,097
Lite-On Technology Corp.	37,952	142,847

Security Description	Shares	Value
MediaTek, Inc.	27,877	$ 634,736
Mega Financial Holding Co. Ltd.	76,624	89,488
Micro-Star International Co. Ltd.	11,000	55,885
momo.com, Inc.	1,320	20,528
Nan Ya Plastics Corp.	12,000	24,758
Nanya Technology Corp.	3,000	6,097
Nien Made Enterprise Co. Ltd.	3,000	28,810
Novatek Microelectronics Corp.	12,000	157,247
Pegatron Corp.	19,000	45,086
PharmaEssentia Corp. (b)	1,000	10,409
Pou Chen Corp.	12,000	10,650
President Chain Store Corp.	25,000	203,296
Quanta Computer, Inc.	22,000	163,225
Realtek Semiconductor Corp.	8,000	97,892
Ruentex Development Co. Ltd.	5,968	6,508
Shanghai Commercial & Savings Bank Ltd.	13,295	17,813
Shin Kong Financial Holding Co. Ltd. (b)	88,657	25,460
SinoPac Financial Holdings Co. Ltd.	45,627	24,594
Synnex Technology International Corp.	55,900	111,002
Taishin Financial Holding Co. Ltd.	22,759	12,620
Taiwan Business Bank	65,464	26,769
Taiwan Cement Corp.	31,019	31,951
Taiwan Cooperative Financial Holding Co. Ltd.	271,937	215,659
Taiwan High Speed Rail Corp.	42,000	38,968
Taiwan Mobile Co. Ltd.	69,542	203,797
Taiwan Semiconductor Manufacturing Co. Ltd.	77,495	1,255,553
Unimicron Technology Corp.	26,000	139,744
Uni-President Enterprises Corp.	35,164	76,362
United Microelectronics Corp.	238,000	333,254
Vanguard International Semiconductor Corp.	23,000	48,450
Voltronic Power Technology Corp.	2,000	98,202
Wan Hai Lines Ltd.	10,100	15,112
Winbond Electronics Corp.	3,000	2,351
Wistron Corp.	15,000	47,165
Wiwynn Corp.	2,000	92,626
WPG Holdings Ltd.	39,280	73,740
Yageo Corp.	953	15,499
Yang Ming Marine Transport Corp.	19,000	26,751
Yuanta Financial Holding Co. Ltd.	33,136	25,714
Zhen Ding Technology Holding Ltd.	3,000	9,145
		7,527,755

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
THAILAND — 2.7%
Advanced Info Service PCL	34,722	$ 217,415
Airports of Thailand PCL (b)	36,900	70,684
Airports of Thailand PCL NVDR (b)	60,170	115,259
Asset World Corp. PCL	156,000	16,709
Bangkok Dusit Medical Services PCL Class F	134,392	98,729
Bangkok Expressway & Metro PCL	94,180	21,468
Banpu PCL	73,500	16,148
Berli Jucker PCL NVDR	900	760
BTS Group Holdings PCL	70,543	14,530
Bumrungrad Hospital PCL	12,664	93,208
Central Pattana PCL	8,868	15,404
Central Retail Corp. PCL	25,734	27,386
Central Retail Corp. PCL NVDR	6,163	6,559
Charoen Pokphand Foods PCL	17,886	10,168
CP ALL PCL	16,961	28,181
Delta Electronics Thailand PCL	50,700	115,219
Electricity Generating PCL	2,409	8,005
Energy Absolute PCL	900	1,261
Energy Absolute PCL NVDR	2,400	3,361
Home Product Center PCL	211,074	72,459
Indorama Ventures PCL	1,400	1,000
Indorama Ventures PCL NVDR	5,700	4,070
Intouch Holdings PCL Class F	61,302	124,161
Krung Thai Bank PCL	27,968	14,594
Land & Houses PCL	14,600	3,128
Minor International PCL	885	760
Minor International PCL NVDR	2,961	2,541
Osotspa PCL	7,800	5,355
PTT Exploration & Production PCL	2,128	9,993
PTT Global Chemical PCL	12,862	12,186
PTT Oil & Retail Business PCL	51,600	26,500
PTT PCL	41,160	37,868
Ratch Group PCL	3,450	2,985
SCB X PCL	3,375	9,501
Siam Cement PCL	2,324	19,211
Siam Cement PCL NVDR	1,200	9,920
Thai Oil PCL	6,879	9,540
True Corp. PCL	19,265	3,756
		1,249,982
TURKEY — 1.0%
Akbank TAS	25,403	31,004
Aselsan Elektronik Sanayi Ve Ticaret AS	28,590	42,549
BIM Birlesik Magazalar AS	10,194	102,145
Eregli Demir ve Celik Fabrikalari TAS (b)	4,522	7,343
Ford Otomotiv Sanayi AS	1,301	40,100
Haci Omer Sabanci Holding AS	17,705	38,555
Hektas Ticaret TAS (b)	13,051	12,806
KOC Holding AS	4,650	24,883

Security Description	Shares	Value
Koza Altin Isletmeleri AS	16,940	$ 17,784
Sasa Polyester Sanayi AS (b)	6,624	11,883
Tofas Turk Otomobil Fabrikasi AS	1,933	20,835
Turk Hava Yollari AO (b)	2,030	17,956
Turkcell Iletisim Hizmetleri AS (b)	5,391	10,481
Turkiye Is Bankasi AS Class C	23,384	21,955
Turkiye Petrol Rafinerileri AS	1,912	11,089
Turkiye Sise ve Cam Fabrikalari AS	26,046	51,921
Yapi ve Kredi Bankasi AS	21,684	14,601
		477,890
UNITED ARAB EMIRATES — 2.4%
Abu Dhabi Commercial Bank PJSC	12,040	28,354
Abu Dhabi National Oil Co. for Distribution PJSC	201,616	205,840
Aldar Properties PJSC	92,867	145,632
Americana Restaurants International PLC	183,439	204,761
Dubai Islamic Bank PJSC	85,705	136,501
Emaar Properties PJSC	37,089	81,185
Emirates NBD Bank PJSC	10,820	52,435
Emirates Telecommunications Group Co. PJSC	20,149	112,126
First Abu Dhabi Bank PJSC	26,682	98,794
Multiply Group PJSC (b)	53,801	58,590
		1,124,218
UNITED KINGDOM — 0.0% (d)
Anglogold Ashanti PLC	656	10,611
UNITED STATES — 0.2%
JBS SA	7,867	28,370
Legend Biotech Corp. ADR (b)	484	32,510
Parade Technologies Ltd.	1,000	30,483
		91,363
TOTAL COMMON STOCKS (Cost $45,968,329)		45,945,322


RIGHTS — 0.0% (d)
BRAZIL — 0.0% (d)
Localiza Rent a Car SA (expiring 11/30/23) (b)	18	57
CHILE — 0.0% (d)
Banco de Credito e Inversiones SA (expiring 10/21/23) (b)	83	69
TOTAL RIGHTS (Cost $0)		126
SHORT-TERM INVESTMENTS — 1.8%
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (g)(h)	134,554	134,581

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
State Street Navigator Securities Lending Portfolio II (i)(j)	710,915	$ 710,915
TOTAL SHORT-TERM INVESTMENTS (Cost $845,496)		845,496
TOTAL INVESTMENTS — 101.6% (Cost $46,813,825)		46,790,944
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.6)%		(734,044)
NET ASSETS — 100.0%		$ 46,056,900

(a)	Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 4.5% of net assets as of September 30, 2023, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(b)	Non-income producing security.
(c)	All or a portion of the shares of the security are on loan at September 30, 2023.
(d)	Amount shown represents less than 0.05% of net assets.

(e)	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 September 30, 2023, total aggregate fair value of the securities is $0, representing 0.00% of the Fund's net assets.
(f)	Reflects separate holdings of the issuer's common stock traded on different securities exchanges.
(g)	The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(h)	The rate shown is the annualized seven-day yield at September 30, 2023.
(i)	The Fund invested in an affiliated entity. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(j)	Investment of cash collateral for securities loaned.

ADR	American Depositary Receipt
GDR	Global Depositary Receipt
NVDR	Non-Voting Depositary Receipt
REIT	Real Estate Investment Trust

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of September 30, 2023.

Description	Level 1 – Quoted Prices	Level 2 – Other Significant Observable Inputs	Level 3 – Significant Unobservable Inputs	Total
ASSETS:
INVESTMENTS:
Common Stocks	$44,837,810	$1,107,512	$ 0(a)	$45,945,322
Rights	126	—	—	126
Short-Term Investments	845,496	—	—	845,496
TOTAL INVESTMENTS	$45,683,432	$1,107,512	$ 0	$46,790,944

(a)	The Fund held Level 3 securities that were valued at $0 at September 30, 2023.

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
COMMON STOCKS — 99.5%
AUSTRALIA — 2.1%
Ampol Ltd.	416	$ 9,075
ANZ Group Holdings Ltd.	3,479	57,616
APA Group Stapled Security	1,159	6,208
Aristocrat Leisure Ltd.	395	10,414
ASX Ltd.	436	16,073
Aurizon Holdings Ltd.	5,174	11,654
BHP Group Ltd.	12,570	358,986
BlueScope Steel Ltd.	914	11,468
Brambles Ltd.	1,039	9,603
Cochlear Ltd.	97	15,984
Coles Group Ltd.	1,532	15,385
Commonwealth Bank of Australia	1,249	80,586
Computershare Ltd.	706	11,829
Dexus REIT	1,076	5,069
Endeavour Group Ltd.	1,206	4,102
Flutter Entertainment PLC (a)	34	5,576
Fortescue Metals Group Ltd.	5,100	68,859
Glencore PLC	34,206	196,184
Goodman Group REIT (b)	1,905	26,372
GPT Group REIT	550	1,384
Macquarie Group Ltd.	131	14,181
Medibank Pvt Ltd.	3,382	7,509
Mirvac Group REIT	2,159	2,968
National Australia Bank Ltd.	2,929	54,953
Newcrest Mining Ltd.	677	10,714
Orica Ltd.	1,175	11,823
QBE Insurance Group Ltd.	138	1,399
Ramsay Health Care Ltd.	172	5,758
REA Group Ltd. (b)	162	16,135
Rio Tinto Ltd.	1,044	76,510
Rio Tinto PLC	3,169	200,126
Santos Ltd.	3,687	18,799
Scentre Group REIT	1,276	2,026
Sonic Healthcare Ltd.	934	17,963
South32 Ltd.	5,854	12,808
Stockland REIT	989	2,502
Suncorp Group Ltd.	1,120	10,098
Telstra Group Ltd.	6,766	16,812
Transurban Group Stapled Security	924	7,568
Treasury Wine Estates Ltd.	981	7,807
Washington H Soul Pattinson & Co. Ltd. (b)	966	20,318
Wesfarmers Ltd.	3,563	121,555
Westpac Banking Corp.	4,569	62,368
Woodside Energy Group Ltd.	5,072	119,449
Woolworths Group Ltd.	952	22,930
		1,767,506
AUSTRIA — 0.1%
Erste Group Bank AG	585	20,328
Mondi PLC	760	12,732
OMV AG	385	18,473

Security Description	Shares	Value
Verbund AG	91	$ 7,423
voestalpine AG	41	1,122
		60,078
BELGIUM — 0.2%
Ageas SA	298	12,314
Anheuser-Busch InBev SA	413	22,961
Elia Group SA	72	7,063
Groupe Bruxelles Lambert NV	102	7,620
KBC Group NV	236	14,777
Sofina SA	55	11,169
Solvay SA	22	2,442
UCB SA	809	66,415
Umicore SA	176	4,183
		148,944
BRAZIL — 0.0% (c)
Wheaton Precious Metals Corp. (b)	659	26,867
Yara International ASA	41	1,562
		28,429
CANADA — 3.4%
Agnico Eagle Mines Ltd.	379	17,302
Algonquin Power & Utilities Corp. (b)	1,008	5,994
Alimentation Couche-Tard, Inc.	1,682	85,817
AltaGas Ltd. (b)	530	10,212
ARC Resources Ltd. (b)	1,839	29,489
Bank of Montreal	610	51,697
Bank of Nova Scotia	1,363	61,375
Barrick Gold Corp.	4,497	65,626
BCE, Inc. (b)	1,113	42,684
Brookfield Asset Management Ltd. Class A (b)	195	6,528
Brookfield Corp. (b)	987	31,004
Cameco Corp. (b)	134	5,341
Canadian Apartment Properties REIT	106	3,534
Canadian Imperial Bank of Commerce (b)	924	35,832
Canadian National Railway Co.	1,116	121,415
Canadian Natural Resources Ltd.	656	42,621
Canadian Pacific Kansas City Ltd. (b)	453	33,828
Canadian Utilities Ltd. Class A	412	8,746
Cenovus Energy, Inc.	3,311	69,257
CGI, Inc. (a)	2,541	251,619
Constellation Software, Inc. (b)	61	126,515
Dollarama, Inc.	258	17,858
Emera, Inc. (b)	272	9,540
Empire Co. Ltd. Class A (b)	842	23,012
Enbridge, Inc. (b)	1,319	43,950
Fairfax Financial Holdings Ltd.	49	40,185
Fortis, Inc. (b)	469	17,896
Franco-Nevada Corp. (b)	1,890	253,486
George Weston Ltd.	160	17,826

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Great-West Lifeco, Inc. (b)	610	$ 17,533
Hydro One Ltd. (b)(d)	3,807	97,371
iA Financial Corp., Inc.	211	13,297
Imperial Oil Ltd. (b)	180	11,138
Intact Financial Corp.	1,145	167,702
Keyera Corp. (b)	428	10,095
Kinross Gold Corp. (b)	2,264	10,365
Loblaw Cos. Ltd. (b)	781	66,662
Magna International, Inc. (b)	428	23,043
Manulife Financial Corp. (b)	2,135	39,194
Metro, Inc. (b)	724	37,774
National Bank of Canada (b)	211	14,082
Northland Power, Inc. (b)	318	5,203
Nutrien Ltd. (b)	533	33,068
Open Text Corp. (b)	474	16,713
Pan American Silver Corp. (b)	442	6,427
Parkland Corp. (b)	330	9,697
Pembina Pipeline Corp. (b)	644	19,453
Power Corp. of Canada (b)	768	19,643
Quebecor, Inc. Class B (b)	306	6,589
RB Global, Inc. (b)	106	6,667
RioCan Real Estate Investment Trust	678	9,062
Rogers Communications, Inc. Class B (b)	892	34,407
Royal Bank of Canada (b)	1,197	105,092
Shopify, Inc. Class A (a)	91	4,990
Sun Life Financial, Inc. (b)	170	8,333
Suncor Energy, Inc. (b)	1,379	47,643
TC Energy Corp. (b)	669	23,113
Teck Resources Ltd. Class B (b)	399	17,253
TELUS Corp.	4,591	75,317
TFI International, Inc. (b)	106	13,677
Thomson Reuters Corp. (b)	1,663	204,382
TMX Group Ltd. (b)	212	4,577
Toronto-Dominion Bank (b)	3,058	185,086
Tourmaline Oil Corp. (b)	808	40,848
West Fraser Timber Co. Ltd. (b)	116	8,461
		2,944,146
CHILE — 0.0% (c)
Lundin Mining Corp. (b)	224	1,678
CHINA — 0.1%
BOC Hong Kong Holdings Ltd.	19,500	53,407
NXP Semiconductors NV	109	21,791
Prosus NV	425	12,563
SITC International Holdings Co. Ltd.	6,000	10,082
Wilmar International Ltd.	2,700	7,379
Xinyi Glass Holdings Ltd.	5,094	6,595
		111,817
DENMARK — 1.5%
AP Moller - Maersk AS Class A	36	64,045
AP Moller - Maersk AS Class B	11	19,889
Carlsberg AS Class B	167	21,136
Coloplast AS Class B	299	31,737

Security Description	Shares	Value
Danske Bank AS	1,329	$ 31,012
DSV AS	277	51,875
Genmab AS (a)	90	32,048
Novo Nordisk AS Class B	10,082	921,712
Novozymes AS Class B	630	25,466
Orsted AS (d)	95	5,194
Pandora AS	244	25,345
ROCKWOOL AS Class B	31	7,537
Tryg AS	1,592	29,237
Vestas Wind Systems AS (a)	478	10,286
		1,276,519
FINLAND — 0.4%
Elisa Oyj	1,995	92,705
Fortum Oyj (b)	869	10,116
Kone Oyj Class B	1,222	51,648
Neste Oyj (b)	853	29,017
Nokia Oyj (e)	6,192	23,391
Nokia Oyj (e)	2,462	9,331
Nordea Bank Abp	2,224	24,590
Orion Oyj Class B	239	9,418
Sampo Oyj Class A	2,201	95,496
Stora Enso Oyj Class R	733	9,227
UPM-Kymmene Oyj	432	14,851
Wartsila Oyj Abp	393	4,475
		374,265
FRANCE — 2.0%
Air Liquide SA	402	68,031
Airbus SE	215	28,905
Alstom SA (b)	377	9,021
Arkema SA	27	2,675
AXA SA	2,325	69,368
BioMerieux	108	10,499
BNP Paribas SA	2,107	134,806
Bollore SE	5,433	29,279
Bouygues SA	475	16,666
Capgemini SE	74	12,990
Carrefour SA	1,323	22,811
Cie de Saint-Gobain SA	585	35,230
Cie Generale des Etablissements Michelin SCA	744	22,899
Credit Agricole SA	2,753	34,079
Danone SA	496	27,444
Dassault Aviation SA	68	12,844
Dassault Systemes SE	122	4,559
Eiffage SA	25	2,383
Engie SA	2,157	33,182
EssilorLuxottica SA	97	16,962
Eurazeo SE	96	5,738
Gecina SA REIT	5	512
Getlink SE	197	3,152
Hermes International SCA	61	111,717
Ipsen SA	31	4,076
Kering SA	117	53,501
Klepierre SA REIT	307	7,551
Legrand SA	33	3,050

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
L'Oreal SA	450	$ 187,335
LVMH Moet Hennessy Louis Vuitton SE	83	62,955
Orange SA	23,397	269,019
Pernod Ricard SA	130	21,726
Publicis Groupe SA	75	5,698
Renault SA	787	32,392
Safran SA	108	16,996
Sartorius Stedim Biotech	73	17,467
Societe Generale SA	2,405	58,679
Sodexo SA	9	929
Teleperformance SE	13	1,643
Thales SA	66	9,301
TotalEnergies SE	2,569	169,479
Unibail-Rodamco-Westfield REIT (a)	193	9,553
Valeo SE	330	5,705
Veolia Environnement SA	771	22,391
Vinci SA	306	34,024
Vivendi SE	2,854	25,068
Worldline SA (a)(d)	223	6,292
		1,740,582
GERMANY — 1.9%
adidas AG	95	16,759
Allianz SE	407	97,257
BASF SE	1,008	45,837
Bayer AG	845	40,662
Bayerische Motoren Werke AG	599	61,123
Bayerische Motoren Werke AG Preference Shares	115	10,751
Bechtle AG	44	2,061
Beiersdorf AG	161	20,821
Brenntag SE	190	14,781
Commerzbank AG	2,712	30,982
Continental AG	267	18,872
Covestro AG (a)(d)	196	10,596
Daimler Truck Holding AG	822	28,563
Deutsche Bank AG	4,564	50,496
Deutsche Boerse AG	82	14,212
Deutsche Lufthansa AG (a)	901	7,160
Deutsche Post AG	1,113	45,409
Deutsche Telekom AG	19,488	409,935
E.ON SE	2,274	26,965
Fresenius Medical Care AG & Co. KGaA	325	14,053
Fresenius SE & Co. KGaA	621	19,369
Hannover Rueck SE	20	4,402
Heidelberg Materials AG	203	15,801
HelloFresh SE (a)	130	3,892
Henkel AG & Co. KGaA Preference Shares	174	12,428
Infineon Technologies AG	825	27,388
Knorr-Bremse AG	206	13,125
LEG Immobilien SE (a)	58	4,012
Mercedes-Benz Group AG	1,531	106,804
Merck KGaA	73	12,223

Security Description	Shares	Value
MTU Aero Engines AG	43	$ 7,819
Muenchener Rueckversicherungs-Gesellschaft AG	178	69,560
Nemetschek SE	25	1,532
Porsche Automobil Holding SE Preference Shares	300	14,817
Rational AG	8	5,082
Rheinmetall AG	5	1,291
RWE AG	547	20,357
SAP SE	447	58,126
Sartorius AG Preference Shares	30	10,221
Siemens AG	436	62,623
Siemens Energy AG (a)	230	3,015
Siemens Healthineers AG (d)	219	11,130
Symrise AG	680	65,026
Telefonica Deutschland Holding AG	14,176	25,440
Volkswagen AG	40	5,281
Volkswagen AG Preference Shares	837	96,540
Vonovia SE	1,134	27,386
Zalando SE (a)(d)	228	5,101
		1,677,086
HONG KONG — 0.9%
AIA Group Ltd.	5,400	44,024
CK Asset Holdings Ltd.	1,678	8,838
CK Infrastructure Holdings Ltd.	500	2,365
CLP Holdings Ltd.	10,500	77,693
Hang Seng Bank Ltd.	7,900	98,298
Henderson Land Development Co. Ltd.	2,000	5,273
HKT Trust & HKT Ltd. Stapled Security	40,540	42,342
Hong Kong & China Gas Co. Ltd.	94,277	65,726
Hong Kong Exchanges & Clearing Ltd.	2,271	84,845
Hongkong Land Holdings Ltd.	2,800	9,996
Jardine Matheson Holdings Ltd.	1,800	83,556
Link REIT	14,510	71,143
MTR Corp. Ltd.	16,538	65,461
New World Development Co. Ltd.	4,330	8,426
Power Assets Holdings Ltd.	10,000	48,392
Prudential PLC	2,120	22,998
Sino Land Co. Ltd.	10,776	12,149
Sun Hung Kai Properties Ltd.	1,500	16,050
Swire Pacific Ltd. Class A	1,000	6,748
Techtronic Industries Co. Ltd.	2,500	24,260
WH Group Ltd. (d)	28,072	14,732
Wharf Real Estate Investment Co. Ltd.	2,000	7,725
		821,040
IRELAND — 0.1%
AerCap Holdings NV (a)	141	8,837

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Bank of Ireland Group PLC	859	$ 8,449
Kerry Group PLC Class A	210	17,605
Kingspan Group PLC	367	27,572
Smurfit Kappa Group PLC	264	8,821
		71,284
ISRAEL — 0.3%
Azrieli Group Ltd.	229	11,754
Bank Hapoalim BM	2,691	23,955
Bank Leumi Le-Israel BM	4,999	41,376
Check Point Software Technologies Ltd. (a)	344	45,848
Elbit Systems Ltd.	28	5,576
ICL Group Ltd.	7,174	39,705
Israel Discount Bank Ltd. Class A	2,957	15,993
Mizrahi Tefahot Bank Ltd.	700	25,393
Nice Ltd. (a)	59	9,998
Teva Pharmaceutical Industries Ltd. (a)	1,560	15,829
		235,427
ITALY — 0.8%
Assicurazioni Generali SpA	2,198	45,065
Coca-Cola HBC AG	232	6,369
DiaSorin SpA	65	5,947
Enel SpA	6,326	38,980
Eni SpA (b)	6,571	106,137
Ferrari NV	484	143,328
FinecoBank Banca Fineco SpA	988	12,045
Infrastrutture Wireless Italiane SpA (d)	3,425	40,849
Intesa Sanpaolo SpA	24,357	62,923
Mediobanca Banca di Credito Finanziario SpA (b)	1,683	22,327
Moncler SpA	381	22,218
Poste Italiane SpA (d)	562	5,931
Prysmian SpA	61	2,464
Recordati Industria Chimica e Farmaceutica SpA	880	41,656
Telecom Italia SpA (a)(b)	44,903	14,077
Terna - Rete Elettrica Nazionale	1,123	8,475
UniCredit SpA	3,724	89,620
		668,411
JAPAN — 8.5%
Advantest Corp. (b)	1,600	44,829
Aeon Co. Ltd.	1,200	23,823
AGC, Inc.	500	17,571
Aisin Corp.	100	3,786
Ajinomoto Co., Inc.	400	15,450
ANA Holdings, Inc. (a)	200	4,199
Asahi Group Holdings Ltd.	400	14,984
Asahi Kasei Corp.	2,000	12,597
Astellas Pharma, Inc.	1,400	19,458
Bandai Namco Holdings, Inc.	1,900	38,732
BayCurrent Consulting, Inc.	200	6,699
Bridgestone Corp.	900	35,156

Security Description	Shares	Value
Brother Industries Ltd.	2,600	$ 41,964
Canon, Inc. (b)	7,600	183,602
Capcom Co. Ltd.	200	7,217
Central Japan Railway Co.	6,500	158,335
Chiba Bank Ltd. (b)	6,000	43,726
Chubu Electric Power Co., Inc.	5,600	71,564
Chugai Pharmaceutical Co. Ltd.	2,400	74,368
Concordia Financial Group Ltd.	9,600	43,843
CyberAgent, Inc. (b)	400	2,161
Dai Nippon Printing Co. Ltd.	400	10,427
Daifuku Co. Ltd.	300	5,688
Dai-ichi Life Holdings, Inc.	1,300	26,980
Daiichi Sankyo Co. Ltd.	400	11,006
Daikin Industries Ltd.	100	15,731
Daito Trust Construction Co. Ltd.	100	10,555
Daiwa House Industry Co. Ltd.	600	16,143
Daiwa House REIT Investment Corp.	5	8,839
Daiwa Securities Group, Inc. (b)	2,200	12,725
Denso Corp.	2,000	32,180
Dentsu Group, Inc.	100	2,949
Disco Corp.	100	18,482
East Japan Railway Co. (b)	1,800	103,193
ENEOS Holdings, Inc. (b)	22,600	89,340
Fuji Electric Co. Ltd.	100	4,521
FUJIFILM Holdings Corp.	2,700	156,653
Fujitsu Ltd.	100	11,794
Hamamatsu Photonics KK	1,300	54,875
Hankyu Hanshin Holdings, Inc.	500	17,092
Hirose Electric Co. Ltd.	300	34,820
Hitachi Ltd.	900	55,939
Honda Motor Co. Ltd.	9,600	108,207
Hoya Corp.	600	61,618
Idemitsu Kosan Co. Ltd.	500	11,520
Iida Group Holdings Co. Ltd.	200	3,333
Inpex Corp.	1,100	16,630
Isuzu Motors Ltd.	700	8,821
ITOCHU Corp. (b)	5,300	192,004
Japan Airlines Co. Ltd.	500	9,744
Japan Exchange Group, Inc.	2,200	40,897
Japan Metropolitan Fund Invest REIT	2	1,300
Japan Post Bank Co. Ltd.	7,400	64,516
Japan Post Holdings Co. Ltd.	7,600	60,988
Japan Post Insurance Co. Ltd.	1,200	20,269
Japan Real Estate Investment Corp. REIT	1	3,907
Japan Tobacco, Inc.	2,000	46,105
JFE Holdings, Inc.	2,200	32,302
Kajima Corp.	200	3,262
Kansai Electric Power Co., Inc.	2,200	30,628
Kao Corp.	600	22,319
Kawasaki Kisen Kaisha Ltd. (b)	300	10,261
KDDI Corp.	7,500	230,039
Keio Corp. (b)	300	10,337
Keisei Electric Railway Co. Ltd.	200	6,943

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Keyence Corp.	300	$ 111,576
Kintetsu Group Holdings Co. Ltd.	700	19,880
Kirin Holdings Co. Ltd.	200	2,805
Kobayashi Pharmaceutical Co. Ltd.	100	4,473
Kobe Bussan Co. Ltd. (b)	200	4,699
Koei Tecmo Holdings Co. Ltd. (b)	1,060	15,098
Koito Manufacturing Co. Ltd.	200	3,024
Komatsu Ltd.	600	16,256
Kubota Corp.	700	10,339
Kyocera Corp.	1,500	76,264
Lasertec Corp.	200	31,188
Lixil Corp. (b)	600	7,002
M3, Inc.	600	10,920
Marubeni Corp.	2,900	45,319
Mazda Motor Corp.	1,300	14,779
McDonald's Holdings Co. Japan Ltd.	700	26,785
MEIJI Holdings Co. Ltd.	700	17,431
MISUMI Group, Inc.	200	3,132
Mitsubishi Chemical Group Corp.	2,700	17,057
Mitsubishi Corp.	2,200	105,087
Mitsubishi Electric Corp.	2,500	30,977
Mitsubishi Estate Co. Ltd.	100	1,310
Mitsubishi Heavy Industries Ltd.	600	33,557
Mitsubishi UFJ Financial Group, Inc.	21,100	179,362
Mitsui & Co. Ltd. (b)	2,000	72,682
Mitsui Chemicals, Inc.	500	12,990
Mitsui Fudosan Co. Ltd.	600	13,244
Mitsui OSK Lines Ltd. (b)	1,300	35,805
Mizuho Financial Group, Inc.	13,240	225,450
MonotaRO Co. Ltd.	700	7,508
MS&AD Insurance Group Holdings, Inc. (b)	600	22,094
Murata Manufacturing Co. Ltd.	2,700	49,468
NEC Corp.	2,000	110,719
Nexon Co. Ltd.	400	7,166
NIDEC Corp.	100	4,645
Nintendo Co. Ltd.	4,500	187,871
Nippon Building Fund, Inc. REIT	1	4,061
NIPPON EXPRESS HOLDINGS, Inc.	100	5,229
Nippon Paint Holdings Co. Ltd.	400	2,697
Nippon Prologis REIT, Inc.	10	18,710
Nippon Steel Corp. (b)	1,300	30,534
Nippon Telegraph & Telephone Corp.	255,000	301,779
Nippon Yusen KK (b)	1,800	46,874
Nissan Chemical Corp.	100	4,261
Nissan Motor Co. Ltd. (b)	6,900	30,532
Nissin Foods Holdings Co. Ltd.	100	8,326
Nitori Holdings Co. Ltd.	300	33,594
Nitto Denko Corp.	100	6,573
Nomura Holdings, Inc.	3,100	12,446
Nomura Real Estate Holdings, Inc.	200	5,030

Security Description	Shares	Value
Nomura Real Estate Master Fund, Inc. REIT	1	$ 1,122
Nomura Research Institute Ltd.	500	13,044
NTT Data Group Corp.	3,400	45,671
Obic Co. Ltd.	700	106,413
Odakyu Electric Railway Co. Ltd. (b)	900	13,477
Oji Holdings Corp.	3,300	13,910
Olympus Corp.	100	1,301
Omron Corp.	100	4,468
Ono Pharmaceutical Co. Ltd.	1,600	30,751
Oracle Corp.	400	29,754
Oriental Land Co. Ltd.	1,000	32,897
ORIX Corp.	2,200	41,177
Osaka Gas Co. Ltd.	3,500	57,745
Otsuka Corp.	1,100	46,676
Otsuka Holdings Co. Ltd.	1,000	35,604
Pan Pacific International Holdings Corp.	2,500	52,572
Panasonic Holdings Corp.	3,200	36,069
Rakuten Group, Inc. (b)	600	2,465
Recruit Holdings Co. Ltd.	598	18,470
Renesas Electronics Corp. (a)	300	4,595
Resona Holdings, Inc.	5,600	31,084
Ricoh Co. Ltd.	4,800	41,510
SBI Holdings, Inc.	100	2,110
SCSK Corp.	2,800	48,954
Secom Co. Ltd.	1,400	95,132
Seiko Epson Corp. (b)	3,000	47,234
Sekisui Chemical Co. Ltd.	100	1,443
Sekisui House Ltd.	800	15,960
Seven & i Holdings Co. Ltd.	800	31,389
SG Holdings Co. Ltd.	3,400	43,632
Sharp Corp. (a)	800	4,996
Shimadzu Corp.	600	15,971
Shimano, Inc.	200	27,026
Shin-Etsu Chemical Co. Ltd.	3,900	113,504
Shionogi & Co. Ltd.	400	17,922
Shizuoka Financial Group, Inc.	4,500	36,760
SoftBank Corp.	24,800	280,948
SoftBank Group Corp.	2,000	84,905
Sompo Holdings, Inc.	500	21,555
Sony Group Corp.	800	65,619
Square Enix Holdings Co. Ltd.	100	3,434
Subaru Corp.	700	13,632
SUMCO Corp.	500	6,530
Sumitomo Chemical Co. Ltd.	4,200	11,455
Sumitomo Corp.	600	11,998
Sumitomo Electric Industries Ltd.	700	8,451
Sumitomo Metal Mining Co. Ltd.	200	5,896
Sumitomo Mitsui Financial Group, Inc.	2,900	142,780
Sumitomo Mitsui Trust Holdings, Inc.	500	18,867
Suntory Beverage & Food Ltd.	400	12,196
Suzuki Motor Corp.	200	8,063

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Sysmex Corp.	300	$ 14,340
T&D Holdings, Inc.	1,000	16,539
Taisei Corp.	100	3,526
Takeda Pharmaceutical Co. Ltd.	868	26,995
TDK Corp.	500	18,569
Terumo Corp.	200	5,311
TIS, Inc.	1,400	30,894
Tobu Railway Co. Ltd.	1,000	25,746
Toho Co. Ltd.	900	30,771
Tokio Marine Holdings, Inc.	1,800	41,796
Tokyo Electric Power Co. Holdings, Inc. (a)	8,800	39,440
Tokyo Electron Ltd.	900	123,277
Tokyo Gas Co. Ltd.	900	20,452
Tokyu Corp. (b)	900	10,398
TOPPAN, Inc.	600	14,374
Toray Industries, Inc.	2,600	13,555
Toshiba Corp. (a)	600	18,508
Tosoh Corp.	300	3,856
TOTO Ltd.	200	5,177
Toyota Industries Corp.	100	7,891
Toyota Motor Corp. (b)	11,800	211,724
Toyota Tsusho Corp.	500	29,469
Trend Micro, Inc.	300	11,395
Unicharm Corp.	200	7,091
USS Co. Ltd.	2,200	36,452
Welcia Holdings Co. Ltd.	500	8,656
West Japan Railway Co.	100	4,145
Yakult Honsha Co. Ltd.	200	4,869
Yamaha Motor Co. Ltd.	200	5,269
Yamato Holdings Co. Ltd.	1,500	24,476
Z Holdings Corp.	2,100	5,847
ZOZO, Inc.	100	1,838
		7,290,337
JORDAN — 0.0% (c)
Hikma Pharmaceuticals PLC	346	8,818
LUXEMBOURG — 0.1%
ArcelorMittal SA	1,585	39,897
Eurofins Scientific SE	244	13,821
		53,718
MACAU — 0.0% (c)
Galaxy Entertainment Group Ltd.	1,000	6,020
NETHERLANDS — 1.7%
ABN AMRO Bank NV GDR (d)	1,521	21,643
Adyen NV (a)(d)	34	25,403
Aegon NV	4,549	22,068
Akzo Nobel NV	34	2,465
ASM International NV	75	31,564
ASML Holding NV	973	575,965
EXOR NV (b)	242	21,507
Ferrovial SE	282	8,650
Heineken Holding NV	8	605
Heineken NV	108	9,543
ING Groep NV	6,160	81,850

Security Description	Shares	Value
Koninklijke Ahold Delhaize NV	5,137	$ 155,115
Koninklijke KPN NV	32,429	107,088
Koninklijke Philips NV	1,334	26,787
NN Group NV (b)	358	11,538
OCI NV (a)	1,151	32,159
Randstad NV	130	7,209
Shell PLC	7,159	227,710
Universal Music Group NV	1,107	28,985
Wolters Kluwer NV	612	74,288
		1,472,142
NEW ZEALAND — 0.1%
Auckland International Airport Ltd.	1,924	9,144
Fisher & Paykel Healthcare Corp. Ltd. Class C	556	7,210
Spark New Zealand Ltd.	14,511	41,938
		58,292
NORWAY — 0.3%
Aker BP ASA	508	14,131
DNB Bank ASA	934	18,924
Equinor ASA	2,540	83,820
Gjensidige Forsikring ASA	774	11,456
Mowi ASA	337	6,003
Norsk Hydro ASA	724	4,572
Orkla ASA	381	2,864
Salmar ASA	38	1,941
Telenor ASA	6,636	75,772
		219,483
PORTUGAL — 0.0% (c)
EDP - Energias de Portugal SA	1,073	4,471
Galp Energia SGPS SA	954	14,181
Jeronimo Martins SGPS SA	768	17,287
		35,939
SINGAPORE — 0.7%
CapitaLand Ascendas REIT	6,900	13,902
CapitaLand Integrated Commercial Trust REIT	8,832	11,971
CapitaLand Investment Ltd.	5,400	12,265
DBS Group Holdings Ltd.	3,221	79,386
Keppel Corp. Ltd.	2,200	10,960
Mapletree Logistics Trust REIT	151	186
Mapletree Pan Asia Commercial Trust REIT	200	210
Oversea-Chinese Banking Corp. Ltd.	8,904	83,567
Seatrium Ltd. (a)	39,153	3,844
Singapore Airlines Ltd. (b)	4,250	20,115
Singapore Exchange Ltd.	10,700	76,434
Singapore Technologies Engineering Ltd.	4,100	11,745
Singapore Telecommunications Ltd.	75,642	134,115
STMicroelectronics NV	1,366	59,275
United Overseas Bank Ltd.	2,000	41,761

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
UOL Group Ltd.	2,200	$ 10,348
		570,084
SOUTH AFRICA — 0.1%
Anglo American PLC	2,065	57,100
SPAIN — 1.1%
ACS Actividades de Construccion y Servicios SA	953	34,376
Aena SME SA (d)	6	906
Amadeus IT Group SA	225	13,645
Banco Bilbao Vizcaya Argentaria SA	12,381	101,066
Banco Santander SA (b)	33,703	129,119
CaixaBank SA	9,481	38,004
Cellnex Telecom SA (a)(d)	501	17,488
Enagas SA	1,258	20,884
Endesa SA	95	1,939
Grifols SA (a)	272	3,541
Iberdrola SA	4,663	52,307
Industria de Diseno Textil SA	5,223	195,149
Naturgy Energy Group SA (b)	828	22,582
Redeia Corp. SA	4,192	66,108
Repsol SA	3,496	57,631
Telefonica SA (b)	50,031	204,889
		959,634
SWEDEN — 0.6%
Assa Abloy AB Class B	307	6,731
Atlas Copco AB Class A	5,765	78,137
Atlas Copco AB Class B	3,728	43,991
Boliden AB	564	16,324
Epiroc AB Class A	1,598	30,594
Epiroc AB Class B	374	6,031
EQT AB	145	2,895
Essity AB Class B	409	8,881
Evolution AB (d)	310	31,570
H & M Hennes & Mauritz AB Class B (b)	834	11,934
Hexagon AB Class B	1,181	10,151
Industrivarden AB Class A	25	665
Industrivarden AB Class C (b)	502	13,335
Investor AB Class B	3,147	60,772
Nibe Industrier AB Class B	905	5,981
Sandvik AB	2,096	38,894
Skandinaviska Enskilda Banken AB Class A	517	6,217
Skanska AB Class B	564	9,344
SKF AB Class B	543	9,104
Svenska Handelsbanken AB Class A	1,533	13,766
Swedbank AB Class A	1,663	30,813
Tele2 AB Class B (b)	509	3,921
Telefonaktiebolaget LM Ericsson Class B (b)	4,038	19,822
Telia Co. AB	8,284	17,210
Volvo AB Class B	1,635	33,952

Security Description	Shares	Value
Volvo Car AB Class B	438	$ 1,792
		512,827
SWITZERLAND — 2.3%
ABB Ltd.	1,927	69,092
Adecco Group AG	427	17,625
Alcon, Inc.	199	15,432
Baloise Holding AG	26	3,777
Banque Cantonale Vaudoise (b)	250	26,249
Barry Callebaut AG	2	3,188
BKW AG	177	31,248
Chocoladefabriken Lindt & Spruengli AG	1	11,139
Cie Financiere Richemont SA Class A	132	16,161
DSM-Firmenich AG	88	7,466
EMS-Chemie Holding AG	77	52,439
Geberit AG	121	60,712
Givaudan SA	21	68,730
Julius Baer Group Ltd.	109	7,013
Kuehne & Nagel International AG	680	194,010
Logitech International SA	1,006	69,589
Lonza Group AG	27	12,561
Novartis AG	5,144	527,839
Partners Group Holding AG	65	73,505
Schindler Holding AG (e)	232	46,410
Schindler Holding AG (e)	137	26,478
SGS SA	597	50,263
Sika AG	210	53,510
Sonova Holding AG	109	25,939
Straumann Holding AG	158	20,242
Swatch Group AG Bearer Shares	92	23,674
Swiss Life Holding AG	36	22,494
Swiss Prime Site AG	702	64,422
Swisscom AG	318	189,173
Temenos AG	70	4,929
UBS Group AG	3,601	89,317
VAT Group AG (d)	38	13,666
Zurich Insurance Group AG	231	106,081
		2,004,373
UNITED KINGDOM — 2.3%
3i Group PLC	1,264	31,982
abrdn PLC	3,784	7,193
Admiral Group PLC	505	14,651
Ashtead Group PLC	338	20,636
AstraZeneca PLC	669	90,653
AstraZeneca PLC ADR	54	3,657
Auto Trader Group PLC (d)	720	5,427
Aviva PLC	3,376	16,062
BAE Systems PLC	2,387	29,070
Barclays PLC	35,257	68,397
Barratt Developments PLC	1,046	5,631
Berkeley Group Holdings PLC	164	8,221
BP PLC	22,479	145,799

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
BP PLC	—	$ —
British American Tobacco PLC	825	25,949
British American Tobacco PLC ADR (b)	1,328	41,712
BT Group PLC (b)	13,656	19,451
Bunzl PLC	672	23,999
Burberry Group PLC	361	8,409
Centrica PLC	5,924	11,168
CK Hutchison Holdings Ltd.	6,500	34,775
CNH Industrial NV	1,383	16,897
Coca-Cola Europacific Partners PLC	27	1,687
Compass Group PLC	1,153	28,146
Croda International PLC	366	21,956
DCC PLC	35	1,969
Diageo PLC	4,260	157,754
Halma PLC	800	18,928
Hargreaves Lansdown PLC	1,046	9,871
HSBC Holdings PLC	27,499	216,454
Imperial Brands PLC	2,773	56,421
Informa PLC	1,130	10,350
Intertek Group PLC	341	17,114
J Sainsbury PLC	4,859	14,993
JD Sports Fashion PLC	3,478	6,355
Johnson Matthey PLC	291	5,782
Kingfisher PLC	3,463	9,438
Land Securities Group PLC REIT	910	6,551
Legal & General Group PLC	4,812	13,068
Liberty Global PLC Class C (a)(b)	1,044	19,377
Lloyds Banking Group PLC	125,580	68,009
London Stock Exchange Group PLC	90	9,045
M&G PLC	9,425	22,697
National Grid PLC	2,767	33,097
NatWest Group PLC	8,610	24,770
Next PLC	274	24,400
Pearson PLC	339	3,593
Persimmon PLC	767	10,087
Reckitt Benckiser Group PLC	1,274	90,096
RELX PLC	3,460	117,191
Rentokil Initial PLC	1,259	9,377
Rolls-Royce Holdings PLC (a)	2,160	5,824
Sage Group PLC	1,971	23,792
Schroders PLC	1,009	5,015
Severn Trent PLC	663	19,138
Smith & Nephew PLC	339	4,233
Spirax-Sarco Engineering PLC	162	18,836
SSE PLC	920	18,079
St. James's Place PLC	1,279	12,991
Standard Chartered PLC	6,318	58,453
Taylor Wimpey PLC	2,086	2,987
Tesco PLC	5,250	16,930
Unilever PLC	1,085	53,793
United Utilities Group PLC	1,018	11,782

Security Description	Shares	Value
Vodafone Group PLC	63,841	$ 59,859
Whitbread PLC	69	2,917
WPP PLC	781	6,987
		1,979,931
UNITED STATES — 67.9%
3M Co.	1,592	149,043
A O Smith Corp.	293	19,376
Abbott Laboratories	3,116	301,785
AbbVie, Inc.	1,945	289,922
Accenture PLC Class A	2,052	630,190
Activision Blizzard, Inc.	1,587	148,591
Adobe, Inc. (a)	927	472,677
Advanced Micro Devices, Inc. (a)	441	45,344
AES Corp.	428	6,506
Aflac, Inc.	1,150	88,262
Agilent Technologies, Inc.	483	54,009
Air Products & Chemicals, Inc.	54	15,304
Akamai Technologies, Inc. (a)	1,100	117,194
Albemarle Corp.	34	5,781
Albertsons Cos., Inc. Class A	426	9,692
Align Technology, Inc. (a)	36	10,992
Allegion PLC	144	15,005
Alliant Energy Corp.	367	17,781
Allstate Corp.	548	61,053
Ally Financial, Inc.	721	19,236
Alphabet, Inc. Class A (a)	7,917	1,036,019
Alphabet, Inc. Class C (a)	6,971	919,126
Altria Group, Inc.	755	31,748
Amazon.com, Inc. (a)	2,535	322,249
Amcor PLC	8,633	79,078
Amcor PLC CDI	1,206	11,092
Ameren Corp.	821	61,435
American Electric Power Co., Inc.	1,390	104,556
American Express Co.	259	38,640
American Financial Group, Inc.	209	23,339
American International Group, Inc.	1,004	60,842
American Tower Corp. REIT	109	17,925
American Water Works Co., Inc.	366	45,322
Ameriprise Financial, Inc.	231	76,156
Amgen, Inc.	815	219,039
Amphenol Corp. Class A	2,908	244,243
Analog Devices, Inc.	238	41,671
Annaly Capital Management, Inc. REIT	1,184	22,271
Aon PLC Class A	442	143,305
Apollo Global Management, Inc.	279	25,043
Apple, Inc.	11,402	1,952,136
Applied Materials, Inc.	2,131	295,037
Aptiv PLC (a)	136	13,408
Aramark	156	5,413
Arch Capital Group Ltd. (a)	333	26,543
Archer-Daniels-Midland Co.	512	38,615
Arista Networks, Inc. (a)	482	88,654
Arrow Electronics, Inc. (a)	447	55,982

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Arthur J Gallagher & Co.	479	$ 109,178
Assurant, Inc.	116	16,655
AT&T, Inc.	15,319	230,091
Atmos Energy Corp.	102	10,805
Autodesk, Inc. (a)	34	7,035
Automatic Data Processing, Inc.	1,563	376,027
AutoZone, Inc. (a)	87	220,979
AvalonBay Communities, Inc. REIT	67	11,507
Avery Dennison Corp.	211	38,543
Baker Hughes Co.	673	23,770
Ball Corp.	88	4,381
Bank of America Corp.	10,309	282,260
Bank of New York Mellon Corp.	800	34,120
Bath & Body Works, Inc.	216	7,301
Baxter International, Inc.	541	20,417
Becton Dickinson & Co.	393	101,602
Berkshire Hathaway, Inc. Class B (a)	1,831	641,399
Best Buy Co., Inc.	773	53,700
Biogen, Inc. (a)	101	25,958
BioMarin Pharmaceutical, Inc. (a)	1,056	93,435
Bio-Rad Laboratories, Inc. Class A (a)	37	13,263
BlackRock, Inc.	279	180,371
Blackstone, Inc.	299	32,035
Block, Inc. (a)	100	4,426
Boeing Co. (a)	104	19,935
Booking Holdings, Inc. (a)	8	24,672
Booz Allen Hamilton Holding Corp.	1,076	117,575
BorgWarner, Inc.	366	14,775
Boston Properties, Inc. REIT	30	1,784
Boston Scientific Corp. (a)	394	20,803
Bristol-Myers Squibb Co.	4,342	252,010
Broadcom, Inc.	807	670,278
Broadridge Financial Solutions, Inc.	247	44,225
Brown & Brown, Inc.	1,404	98,055
Brown-Forman Corp. Class B	665	38,364
Builders FirstSource, Inc. (a)	298	37,098
Bunge Ltd.	224	24,248
Burlington Stores, Inc. (a)	41	5,547
Cadence Design Systems, Inc. (a)	542	126,991
Camden Property Trust REIT	102	9,647
Campbell Soup Co.	1,986	81,585
Capital One Financial Corp.	646	62,694
Cardinal Health, Inc.	708	61,469
Carlisle Cos., Inc.	51	13,222
CarMax, Inc. (a)	129	9,124
Carnival Corp. (a)	733	10,057
Carrier Global Corp.	2,109	116,417
Catalent, Inc. (a)	104	4,735
Caterpillar, Inc.	241	65,793
Cboe Global Markets, Inc.	1,078	168,394

Security Description	Shares	Value
CBRE Group, Inc. Class A (a)	345	$ 25,482
CDW Corp.	68	13,720
Celanese Corp.	244	30,627
Cencora, Inc.	786	141,456
Centene Corp. (a)	857	59,030
CenterPoint Energy, Inc.	122	3,276
CF Industries Holdings, Inc.	1,809	155,104
CH Robinson Worldwide, Inc.	1,604	138,153
Charles Schwab Corp.	625	34,313
Charter Communications, Inc. Class A (a)	112	49,260
Cheniere Energy, Inc.	139	23,068
Chesapeake Energy Corp. (b)	262	22,592
Chevron Corp.	1,625	274,007
Chipotle Mexican Grill, Inc. (a)	45	82,432
Chubb Ltd.	397	82,647
Church & Dwight Co., Inc.	1,884	172,631
Cigna Group	373	106,704
Cincinnati Financial Corp.	230	23,527
Cintas Corp.	210	101,012
Cisco Systems, Inc.	17,418	936,392
Citigroup, Inc.	4,843	199,193
Citizens Financial Group, Inc.	883	23,664
Cleveland-Cliffs, Inc. (a)	1,262	19,725
Clorox Co.	98	12,844
CME Group, Inc.	630	126,139
CMS Energy Corp.	705	37,443
Coca-Cola Co.	7,585	424,608
Cognex Corp.	346	14,684
Cognizant Technology Solutions Corp. Class A	1,595	108,045
Coinbase Global, Inc. Class A (a)	97	7,283
Colgate-Palmolive Co.	1,527	108,585
Comcast Corp. Class A	3,956	175,409
Conagra Brands, Inc.	1,019	27,941
ConocoPhillips	2,626	314,595
Consolidated Edison, Inc.	3,762	321,764
Constellation Brands, Inc. Class A	28	7,037
Constellation Energy Corp.	210	22,907
Cooper Cos., Inc.	47	14,946
Copart, Inc. (a)	1,704	73,425
Corning, Inc.	563	17,155
Corteva, Inc.	634	32,435
Costco Wholesale Corp.	888	501,684
Coterra Energy, Inc.	839	22,695
CRH PLC	487	26,998
Crown Castle, Inc. REIT	234	21,535
CSL Ltd.	128	20,719
CSX Corp.	1,022	31,427
Cummins, Inc.	368	84,073
CVS Health Corp.	2,187	152,696
Danaher Corp.	331	82,121
Darden Restaurants, Inc.	127	18,189
Darling Ingredients, Inc. (a)	30	1,566
DaVita, Inc. (a)	76	7,184

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Deckers Outdoor Corp. (a)	32	$ 16,451
Deere & Co.	109	41,134
Dell Technologies, Inc. Class C	337	23,219
Delta Air Lines, Inc.	313	11,581
Devon Energy Corp.	1,444	68,879
Diamondback Energy, Inc.	74	11,461
Dick's Sporting Goods, Inc.	116	12,595
Digital Realty Trust, Inc. REIT	94	11,376
Discover Financial Services	230	19,925
Dollar General Corp.	629	66,548
Dollar Tree, Inc. (a)	205	21,822
Dominion Energy, Inc.	2,645	118,152
Domino's Pizza, Inc.	248	93,940
Dover Corp.	129	17,997
Dow, Inc.	597	30,781
DR Horton, Inc.	913	98,120
DTE Energy Co.	232	23,033
Duke Energy Corp.	2,878	254,012
DuPont de Nemours, Inc.	385	28,717
Eastman Chemical Co.	41	3,146
Eaton Corp. PLC	214	45,642
eBay, Inc.	309	13,624
Ecolab, Inc.	81	13,721
Edison International	374	23,670
Edwards Lifesciences Corp. (a)	1,076	74,545
Electronic Arts, Inc.	1,184	142,554
Elevance Health, Inc.	190	82,730
Eli Lilly & Co.	2,347	1,260,644
Emerson Electric Co.	700	67,599
Entergy Corp.	182	16,835
EOG Resources, Inc.	313	39,676
EPAM Systems, Inc. (a)	100	25,569
EQT Corp.	234	9,496
Equinix, Inc. REIT	20	14,525
Equitable Holdings, Inc.	292	8,290
Equity LifeStyle Properties, Inc. REIT	164	10,448
Equity Residential REIT	345	20,255
Erie Indemnity Co. Class A	319	93,719
Essential Utilities, Inc.	190	6,523
Essex Property Trust, Inc. REIT	41	8,696
Estee Lauder Cos., Inc. Class A	430	62,157
Etsy, Inc. (a)	32	2,067
Everest Group Ltd.	45	16,725
Evergy, Inc.	870	44,109
Eversource Energy	719	41,810
Exelon Corp.	741	28,002
Expedia Group, Inc. (a)	20	2,061
Expeditors International of Washington, Inc.	2,123	243,359
Experian PLC	1,244	40,859
Extra Space Storage, Inc. REIT	115	13,982
Exxon Mobil Corp.	3,248	381,900
F5, Inc. (a)	382	61,555
FactSet Research Systems, Inc.	62	27,110
Fair Isaac Corp. (a)	8	6,948

Security Description	Shares	Value
Fastenal Co.	1,415	$ 77,316
FedEx Corp.	244	64,640
Ferguson PLC	473	78,313
Fidelity National Financial, Inc.	788	32,544
Fidelity National Information Services, Inc.	550	30,399
Fifth Third Bancorp	867	21,961
First Horizon Corp.	6,913	76,181
First Solar, Inc. (a)	10	1,616
FirstEnergy Corp.	427	14,595
Fiserv, Inc. (a)	567	64,048
FleetCor Technologies, Inc. (a)	33	8,426
FMC Corp.	178	11,921
Ford Motor Co.	7,743	96,168
Fortinet, Inc. (a)	171	10,034
Fortive Corp.	1	74
Fortune Brands Innovations, Inc.	199	12,370
Fox Corp. Class A	61	1,903
Fox Corp. Class B	272	7,855
Franklin Resources, Inc.	270	6,637
Freeport-McMoRan, Inc.	443	16,519
Garmin Ltd.	309	32,507
GE HealthCare Technologies, Inc.	194	13,200
Gen Digital, Inc.	5,843	103,304
Generac Holdings, Inc. (a)	102	11,114
General Dynamics Corp.	407	89,935
General Electric Co.	578	63,898
General Mills, Inc.	3,909	250,137
General Motors Co.	3,744	123,440
Genuine Parts Co.	201	29,020
Gilead Sciences, Inc.	4,964	372,002
Global Payments, Inc.	156	18,001
Goldman Sachs Group, Inc.	367	118,750
Graco, Inc.	40	2,915
GSK PLC	9,991	181,942
Haleon PLC	3,488	14,511
Halliburton Co.	399	16,160
Hartford Financial Services Group, Inc.	597	42,333
Hasbro, Inc.	81	5,357
HCA Healthcare, Inc.	135	33,207
Healthpeak Properties, Inc. REIT	210	3,856
HEICO Corp.	75	12,145
Henry Schein, Inc. (a)	509	37,793
Hershey Co.	1,560	312,125
Hess Corp.	27	4,131
Hewlett Packard Enterprise Co.	1,666	28,938
HF Sinclair Corp.	308	17,534
Holcim AG	509	32,706
Hologic, Inc. (a)	232	16,101
Home Depot, Inc.	950	287,052
Honeywell International, Inc.	1,322	244,226
Horizon Therapeutics PLC (a)	852	98,568
Hormel Foods Corp.	3,263	124,092
Howmet Aerospace, Inc.	163	7,539

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
HP, Inc.	890	$ 22,873
Hubbell, Inc.	54	16,924
Humana, Inc.	243	118,224
Huntington Bancshares, Inc.	1,893	19,687
Huntington Ingalls Industries, Inc.	74	15,139
IDEX Corp.	211	43,892
IDEXX Laboratories, Inc. (a)	148	64,716
Illinois Tool Works, Inc.	569	131,046
Illumina, Inc. (a)	33	4,530
Incyte Corp. (a)	1,972	113,922
Intel Corp.	5,800	206,190
Intercontinental Exchange, Inc.	489	53,800
International Business Machines Corp.	2,632	369,270
International Flavors & Fragrances, Inc.	127	8,658
International Paper Co.	409	14,507
Interpublic Group of Cos., Inc.	543	15,562
Intuit, Inc.	59	30,145
Intuitive Surgical, Inc. (a)	530	154,914
Invesco Ltd.	954	13,852
J M Smucker Co.	994	122,173
Jabil, Inc.	60	7,613
Jack Henry & Associates, Inc.	798	120,610
James Hardie Industries PLC CDI (a)	476	12,531
Jazz Pharmaceuticals PLC (a)	54	6,990
JB Hunt Transport Services, Inc.	135	25,450
Johnson & Johnson	7,167	1,116,260
Johnson Controls International PLC	535	28,467
JPMorgan Chase & Co.	2,993	434,045
Juniper Networks, Inc.	3,514	97,654
Kellogg Co.	2,937	174,781
Keurig Dr Pepper, Inc.	3,627	114,504
KeyCorp	2,010	21,628
Keysight Technologies, Inc. (a)	1,918	253,771
Kimberly-Clark Corp.	739	89,308
Kinder Morgan, Inc.	1,769	29,330
KKR & Co., Inc.	258	15,893
KLA Corp.	56	25,685
Knight-Swift Transportation Holdings, Inc.	190	9,529
Kraft Heinz Co.	1,862	62,638
Kroger Co.	5,404	241,829
L3Harris Technologies, Inc.	109	18,979
Laboratory Corp. of America Holdings	133	26,740
Lam Research Corp.	337	211,221
Las Vegas Sands Corp.	75	3,438
Lear Corp.	95	12,749
Leidos Holdings, Inc.	22	2,028
Lennar Corp. Class A	486	54,544
Liberty Broadband Corp. Class C (a)	163	14,885
Linde PLC	102	37,980

Security Description	Shares	Value
LKQ Corp.	225	$ 11,140
Lockheed Martin Corp.	803	328,395
Loews Corp.	135	8,547
Lowe's Cos., Inc.	280	58,195
LPL Financial Holdings, Inc.	138	32,796
Lululemon Athletica, Inc. (a)	232	89,462
LyondellBasell Industries NV Class A	603	57,104
M&T Bank Corp.	197	24,911
Marathon Oil Corp.	542	14,499
Marathon Petroleum Corp.	1,098	166,171
Markel Group, Inc. (a)	43	63,317
MarketAxess Holdings, Inc.	92	19,655
Marsh & McLennan Cos., Inc.	2,331	443,589
Martin Marietta Materials, Inc.	20	8,210
Marvell Technology, Inc.	187	10,122
Mastercard, Inc. Class A	1,632	646,125
Match Group, Inc. (a)	100	3,918
McCormick & Co., Inc.	514	38,879
McDonald's Corp.	1,182	311,386
McKesson Corp.	608	264,389
Medtronic PLC	1,089	85,334
Merck & Co., Inc.	9,311	958,567
Meta Platforms, Inc. Class A (a)	4,258	1,278,294
MetLife, Inc.	710	44,666
MGM Resorts International (a)	162	5,955
Micron Technology, Inc.	1,028	69,935
Microsoft Corp.	6,330	1,998,697
Moderna, Inc. (a)	273	28,198
Mohawk Industries, Inc. (a)	88	7,551
Molina Healthcare, Inc. (a)	124	40,658
Molson Coors Beverage Co. Class B	170	10,810
Mondelez International, Inc. Class A	1,239	85,987
Monolithic Power Systems, Inc.	89	41,118
Monster Beverage Corp. (a)	1,560	82,602
Moody's Corp.	262	82,837
Morgan Stanley	1,022	83,467
Mosaic Co.	1,069	38,056
Motorola Solutions, Inc.	1,250	340,300
Nestle SA	7,498	850,287
NetApp, Inc.	210	15,935
Netflix, Inc. (a)	168	63,437
Neurocrine Biosciences, Inc. (a)	648	72,900
Newmont Corp.	4,882	180,390
NextEra Energy, Inc.	842	48,238
NIKE, Inc. Class B	2,513	240,293
NiSource, Inc.	89	2,197
Nordson Corp.	68	15,176
Norfolk Southern Corp.	162	31,903
Northern Trust Corp.	102	7,087
Northrop Grumman Corp.	568	250,028
NRG Energy, Inc.	432	16,641
Nucor Corp.	653	102,097
NVIDIA Corp.	3,961	1,722,995

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
NVR, Inc. (a)	7	$ 41,743
Occidental Petroleum Corp.	436	28,288
Old Dominion Freight Line, Inc.	212	86,738
Omnicom Group, Inc.	426	31,728
ON Semiconductor Corp. (a)	93	8,644
ONEOK, Inc.	170	10,783
Oracle Corp.	1,915	202,837
O'Reilly Automotive, Inc. (a)	169	153,597
Otis Worldwide Corp.	149	11,966
Ovintiv, Inc.	234	11,131
Owens Corning	141	19,234
PACCAR, Inc.	280	23,806
Packaging Corp. of America	164	25,182
Palo Alto Networks, Inc. (a)	33	7,737
Paramount Global Class B	1,314	16,951
Parker-Hannifin Corp.	28	10,907
Paychex, Inc.	1,181	136,205
Paycom Software, Inc.	108	28,001
Paylocity Holding Corp. (a)	22	3,997
PayPal Holdings, Inc. (a)	440	25,722
Pentair PLC	385	24,929
PepsiCo, Inc.	4,794	812,295
Pfizer, Inc.	17,220	571,187
PG&E Corp. (a)	1,552	25,034
Philip Morris International, Inc.	598	55,363
Phillips 66	519	62,358
Pioneer Natural Resources Co.	158	36,269
PNC Financial Services Group, Inc.	468	57,456
Pool Corp.	88	31,337
PPG Industries, Inc.	199	25,830
PPL Corp.	698	16,445
Principal Financial Group, Inc.	519	37,404
Procter & Gamble Co.	2,460	358,816
Progressive Corp.	1,381	192,373
Prologis, Inc. REIT	371	41,630
Prudential Financial, Inc.	230	21,825
Public Service Enterprise Group, Inc.	238	13,545
Public Storage REIT	421	110,942
PulteGroup, Inc.	805	59,610
QIAGEN NV (a)	1,328	53,808
Qorvo, Inc. (a)	70	6,683
QUALCOMM, Inc.	2,921	324,406
Quest Diagnostics, Inc.	637	77,625
Raymond James Financial, Inc.	169	16,973
Realty Income Corp. REIT	246	12,285
Regeneron Pharmaceuticals, Inc. (a)	431	354,696
Regions Financial Corp.	1,350	23,220
Reliance Steel & Aluminum Co.	106	27,796
Republic Services, Inc.	2,425	345,587
ResMed, Inc.	259	38,298
Revvity, Inc.	68	7,528
Rivian Automotive, Inc. Class A (a)(b)	330	8,012

Security Description	Shares	Value
Robert Half, Inc.	280	$ 20,518
Roche Holding AG	2,952	808,186
Roche Holding AG Bearer Shares	261	76,862
Rockwell Automation, Inc.	145	41,451
Rollins, Inc.	1,341	50,060
Roper Technologies, Inc.	495	239,719
Ross Stores, Inc.	198	22,364
Royal Caribbean Cruises Ltd. (a)	31	2,856
RTX Corp.	869	62,542
S&P Global, Inc.	110	40,195
Salesforce, Inc. (a)	195	39,542
Sanofi	1,983	213,057
SBA Communications Corp. REIT	68	13,612
Schlumberger NV	480	27,984
Schneider Electric SE	272	45,207
Seagate Technology Holdings PLC	191	12,596
Seagen, Inc. (a)	715	151,687
SEI Investments Co.	264	15,901
Sempra	354	24,083
Sherwin-Williams Co.	99	25,250
Simon Property Group, Inc. REIT	177	19,121
Sirius XM Holdings, Inc. (b)	2,902	13,117
Skyworks Solutions, Inc.	346	34,112
Snap-on, Inc.	163	41,575
Southern Co.	4,720	305,478
Southwest Airlines Co.	102	2,761
Stanley Black & Decker, Inc.	262	21,898
Starbucks Corp.	313	28,568
State Street Corp. (f)	370	24,775
Steel Dynamics, Inc.	400	42,888
Stellantis NV (e)	2,934	56,542
Stellantis NV (e)	4,507	86,894
Stryker Corp.	130	35,525
Super Micro Computer, Inc. (a)	10	2,742
Swiss Re AG	272	28,044
Synchrony Financial	603	18,434
Synopsys, Inc. (a)	233	106,940
Sysco Corp.	331	21,863
T Rowe Price Group, Inc.	575	60,300
Take-Two Interactive Software, Inc. (a)	76	10,670
Target Corp.	510	56,391
TE Connectivity Ltd.	445	54,971
Tenaris SA	306	4,855
Teradyne, Inc.	482	48,422
Tesla, Inc. (a)	311	77,818
Texas Instruments, Inc.	2,935	466,694
Texas Pacific Land Corp.	22	40,118
Textron, Inc.	136	10,627
Thermo Fisher Scientific, Inc.	110	55,679
TJX Cos., Inc.	2,029	180,338
T-Mobile U.S., Inc. (a)	1,695	237,385
Toro Co.	86	7,147

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Tractor Supply Co. (b)	232	$ 47,108
Tradeweb Markets, Inc. Class A	190	15,238
Trane Technologies PLC	467	94,759
Travelers Cos., Inc.	578	94,393
Truist Financial Corp.	2,450	70,095
Twilio, Inc. Class A (a)	88	5,151
Tyler Technologies, Inc. (a)	27	10,426
Tyson Foods, Inc. Class A	1,115	56,296
U.S. Bancorp	1,969	65,095
Uber Technologies, Inc. (a)	111	5,105
UDR, Inc. REIT	280	9,988
U-Haul Holding Co.	374	19,594
Ulta Beauty, Inc. (a)	155	61,915
Union Pacific Corp.	1,309	266,552
United Parcel Service, Inc. Class B	1,499	233,649
United Rentals, Inc.	60	26,674
United Therapeutics Corp. (a)	138	31,170
UnitedHealth Group, Inc.	2,381	1,200,476
Universal Health Services, Inc. Class B	149	18,734
Valero Energy Corp.	532	75,390
Veeva Systems, Inc. Class A (a)	224	45,573
Ventas, Inc. REIT	183	7,710
VeriSign, Inc. (a)	429	86,885
Verisk Analytics, Inc.	399	94,260
Verizon Communications, Inc.	13,741	445,346
Vertex Pharmaceuticals, Inc. (a)	968	336,612
VF Corp. (b)	272	4,806
Viatris, Inc.	2,932	28,910
Visa, Inc. Class A	4,405	1,013,194
Vistra Corp.	510	16,922
VMware, Inc. Class A (a)	1,343	223,583
Vulcan Materials Co.	20	4,040
W R Berkley Corp.	305	19,364
Walgreens Boots Alliance, Inc.	1,369	30,447
Walmart, Inc.	3,032	484,908
Walt Disney Co. (a)	918	74,404
Warner Bros Discovery, Inc. (a)	4,823	52,378
Waste Connections, Inc.	1,370	183,991
Waste Management, Inc.	2,779	423,631
Waters Corp. (a)	47	12,888
Watsco, Inc. (b)	32	12,087
Webster Financial Corp.	234	9,433
WEC Energy Group, Inc.	1,849	148,937
Wells Fargo & Co.	4,867	198,866
Welltower, Inc. REIT	169	13,844
West Pharmaceutical Services, Inc.	165	61,910
Western Digital Corp. (a)	343	15,651
Westrock Co.	483	17,291
Weyerhaeuser Co. REIT	122	3,741
Whirlpool Corp.	171	22,863
Williams Cos., Inc.	3,335	112,356
Willis Towers Watson PLC	149	31,135
WP Carey, Inc. REIT	142	7,679

Security Description	Shares	Value
WW Grainger, Inc.	121	$ 83,713
Xcel Energy, Inc.	3,354	191,916
Yum! Brands, Inc.	825	103,075
Zebra Technologies Corp. Class A (a)	150	35,480
Zimmer Biomet Holdings, Inc.	102	11,446
Zoetis, Inc.	1,043	181,461
Zoom Video Communications, Inc. Class A (a)	39	2,728
		58,408,833
ZAMBIA — 0.0% (c)
First Quantum Minerals Ltd. (b)	531	12,603
TOTAL COMMON STOCKS (Cost $73,839,088)		85,577,346


PREFERRED STOCKS — 0.0% (c)
GERMANY — 0.0% (c)
Dr Ing hc F Porsche AG (d) (Cost $22,595)	183	17,244
WARRANTS — 0.0% (c)
CANADA — 0.0% (c)
Constellation Software, Inc. (expiring 03/31/40) (a)(b)(g)	61	—
SHORT-TERM INVESTMENTS — 3.3%
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (h)(i)	139,180	139,208
State Street Navigator Securities Lending Portfolio II (f)(j)	2,667,879	2,667,879
TOTAL SHORT-TERM INVESTMENTS (Cost $2,807,093)		2,807,087
TOTAL INVESTMENTS — 102.8% (Cost $76,668,776)		88,401,677
LIABILITIES IN EXCESS OF OTHER ASSETS — (2.8)%		(2,371,052)
NET ASSETS — 100.0%		$ 86,030,625

(a)	Non-income producing security.
(b)	All or a portion of the shares of the security are on loan at September 30, 2023.
(c)	Amount is less than 0.05% of net assets.
(d)	Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 0.4% of net assets as of September 30, 2023, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(e)	Reflects separate holdings of the issuer's common stock traded on different securities exchanges.
(f)	The Fund invested in an affiliated entity. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

(g)	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 September 30, 2023, total aggregate fair value of the security is $0, representing 0.00% of the Fund's net assets.
(h)	The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.

(i)	The rate shown is the annualized seven-day yield at September 30, 2023.
(j)	Investment of cash collateral for securities loaned.

ADR	American Depositary Receipt
CDI	CREST Depository Interest
GDR	Global Depositary Receipt
REIT	Real Estate Investment Trust

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of September 30, 2023.

Description	Level 1 – Quoted Prices	Level 2 – Other Significant Observable Inputs	Level 3 – Significant Unobservable Inputs	Total
ASSETS:
INVESTMENTS:
Common Stocks	$85,577,346	$—	$—	$85,577,346
Preferred Stocks	17,244	—	—	17,244
Warrants	—	—	0(a)	0
Short-Term Investments	2,807,087	—	—	2,807,087
TOTAL INVESTMENTS	$88,401,677	$—	$ 0	$88,401,677

(a)	The Fund held a Level 3 security that was valued at $0 at September 30, 2023.

Sector Breakdown as of September 30, 2023


		% of Net Assets
	Information Technology	19.1
	Health Care	16.3
	Financials	15.1
	Industrials	11.3
	Communication Services	9.6
	Consumer Staples	8.9
	Consumer Discretionary	6.6
	Materials	4.1
	Energy	3.9
	Utilities	3.6
	Real Estate	1.0
	Short-Term Investments	3.3
	Liabilities in Excess of Other Assets	(2.8)
	TOTAL	100.0

(The Fund's sector breakdown is expressed as a percentage of net assets and may change over time.)

Affiliate Table

	Number of Shares Held at 9/30/22	Value at 9/30/22	Cost of Purchases	Proceeds from Shares Sold	Realized Gain (Loss)	Change in Unrealized Appreciation/ Depreciation	Number of Shares Held at 9/30/23	Value at 9/30/23	Dividend Income
State Street Corp.	304	$ 18,486	$ 5,035	$ —	$ —	$1,254	370	$ 24,775	$ 878
State Street Institutional Liquid Reserves Fund, Premier Class	104,538	104,559	3,236,427	3,201,733	(25)	(20)	139,180	139,208	6,517
State Street Navigator Securities Lending Portfolio II	1,677,495	1,677,495	13,137,726	12,147,342	—	—	2,667,879	2,667,879	11,697
Total		$1,800,540	$16,379,188	$15,349,075	$(25)	$1,234		$2,831,862	$19,092

See accompanying notes to financial statements.

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SPDR S&P EMERGING ASIA PACIFIC ETF

SCHEDULE OF INVESTMENTS

September 30, 2023

Security Description	Shares	Value
COMMON STOCKS — 100.1%
CHINA — 40.9%
111, Inc. ADR (a)	10,956	$ 28,486
360 Security Technology, Inc. Class A (a)	14,400	19,429
37 Interactive Entertainment Network Technology Group Co. Ltd. Class A	20,900	62,249
3SBio, Inc. (b)	26,000	21,745
5I5J Holding Group Co. Ltd. Class A (a)	73,200	25,720
AAC Technologies Holdings, Inc.	52,000	88,970
Addsino Co. Ltd. Class A	24,100	28,414
Advanced Technology & Materials Co. Ltd. Class A	41,500	53,714
AECC Aero-Engine Control Co. Ltd. Class A	26,600	78,386
AECC Aviation Power Co. Ltd. Class A	12,100	61,698
Aerospace Hi-Tech Holdings Group Ltd. Class A	34,467	46,361
Agile Group Holdings Ltd. (a)	237,598	28,214
Agora, Inc. ADR (a)(c)	1,465	3,706
Agricultural Bank of China Ltd. Class H	1,922,703	716,854
Air China Ltd. Class H (a)	269,414	181,975
Airtac International Group	12,088	366,604
AK Medical Holdings Ltd. (b)(c)	10,000	8,440
Akeso, Inc. (a)(b)	45,000	206,848
Alibaba Group Holding Ltd. (a)	889,504	9,722,038
A-Living Smart City Services Co. Ltd. (a)(b)	18,000	10,159
All Winner Technology Co. Ltd. Class A	15,540	50,657
Alpha Group Class A (a)	32,100	35,555
Alphamab Oncology (a)(b)(c)	50,000	54,904
Aluminum Corp. of China Ltd. Class H	506,304	283,153
Angang Steel Co. Ltd. Class H (c)	257,616	64,471
Anhui Conch Cement Co. Ltd. Class H	126,860	337,727
Anhui Expressway Co. Ltd. Class H	32,000	33,463
Anhui Guangxin Agrochemical Co. Ltd. Class A	43,700	120,320
Anhui Gujing Distillery Co. Ltd. Class B	11,100	185,665
Anhui Honglu Steel Construction Group Co. Ltd. Class A	7,660	29,785
Anhui Jiangnan Chemical Industry Co. Ltd. Class A	82,080	57,568
Anhui Jinhe Industrial Co. Ltd. Class A	13,100	41,211

Security Description	Shares	Value
Anhui Sinonet & Xonglong Science & Technology Co. Ltd. Class A (a)	382,500	$ 308,698
Anhui Transport Consulting & Design Institute Co. Ltd. Class A	38,880	51,550
Anhui Truchum Advanced Materials & Technology Co. Ltd. Class A	45,300	43,585
ANTA Sports Products Ltd.	82,325	926,594
Antong Holdings Co. Ltd. Class A (a)	263,100	100,029
Aotecar New Energy Technology Co. Ltd. Class A (a)	199,300	68,934
Apeloa Pharmaceutical Co. Ltd. Class A	26,700	65,928
Ascentage Pharma Group International (a)(b)(c)	7,100	18,947
Autohome, Inc. ADR	4,013	121,795
Avary Holding Shenzhen Co. Ltd. Class A	9,000	25,150
AviChina Industry & Technology Co. Ltd. Class H	322,000	152,945
Avicopter PLC Class A	7,600	39,483
Bafang Electric Suzhou Co. Ltd. Class A	2,520	19,822
BAIC Motor Corp. Ltd. Class H (b)	143,000	43,273
Baidu, Inc. Class A (a)	154,490	2,631,430
Bank of China Ltd. Class H	4,678,466	1,636,778
Bank of Communications Co. Ltd. Class H	1,423,975	861,820
Bank of Jiangsu Co. Ltd. Class A	99,950	98,499
Bank of Nanjing Co. Ltd. Class A	67,900	75,022
Bank of Ningbo Co. Ltd. Class A	39,260	144,792
Bank of Shanghai Co. Ltd. Class A	57,400	48,610
Baoshan Iron & Steel Co. Ltd. Class A	98,100	82,000
Baozun, Inc. Class A (a)	5,579	5,578
BBMG Corp. Class H	159,000	16,444
Beibuwan Port Co. Ltd. Class A	36,400	39,319
BeiGene Ltd. (a)	44,275	608,284
Beijing BDStar Navigation Co. Ltd. Class A (a)	35,100	149,154
Beijing Capital International Airport Co. Ltd. Class H (a)	74,000	34,298
Beijing Chunlizhengda Medical Instruments Co. Ltd. Class H (c)	3,250	5,071
Beijing Easpring Material Technology Co. Ltd. Class A	26,600	153,706
Beijing Enterprises Holdings Ltd.	57,500	198,229

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Beijing Enterprises Water Group Ltd.	336,000	$ 73,362
Beijing Jetsen Technology Co. Ltd. Class A (a)	185,900	132,681
Beijing Leike Defense Technology Co. Ltd. Class A (a)	309,500	234,491
Beijing Shiji Information Technology Co. Ltd. Class A (a)	24,559	38,596
Beijing SL Pharmaceutical Co. Ltd. Class A	23,500	39,931
BGI Genomics Co. Ltd. Class A	400	2,864
Biem.L.Fdlkk Garment Co. Ltd. Class A	17,360	80,131
Bilibili, Inc. Class Z (a)	14,404	199,181
Bit Digital, Inc. (a)(c)	7,032	15,048
Blue Sail Medical Co. Ltd. Class A	21,700	20,343
BOE Technology Group Co. Ltd. Class A	120,700	63,947
BOE Technology Group Co. Ltd. Class B	134,700	44,889
Bosideng International Holdings Ltd.	144,000	61,962
B-Soft Co. Ltd. Class A	127,310	117,774
BTG Hotels Group Co. Ltd. Class A (a)	17,700	41,859
BYD Co. Ltd. Class H	68,827	2,126,718
BYD Electronic International Co. Ltd.	59,000	268,940
Canaan, Inc. ADR (a)(c)	11,603	21,117
CanSino Biologics, Inc. Class H (a)(b)	4,000	12,462
CECEP Solar Energy Co. Ltd. Class A	83,300	66,199
CECEP Wind-Power Corp. Class A	448,200	201,162
CETC Cyberspace Security Technology Co. Ltd. Class A	9,900	32,313
CETC Digital Technology Co. Ltd. Class A	17,500	56,182
CETC Potevio Science&Technology Co. Ltd. Class A	23,896	68,712
CGN New Energy Holdings Co. Ltd.	98,000	26,027
CGN Nuclear Technology Development Co. Ltd. Class A	40,900	44,180
CGN Power Co. Ltd. Class H (b)	905,000	234,574
Changchun Faway Automobile Components Co. Ltd. Class A	33,490	40,910
Changchun High & New Technology Industry Group, Inc. Class A, NVDR	600	11,447

Security Description	Shares	Value
Changjiang Securities Co. Ltd. Class A	44,500	$ 35,609
Chengdu Hongqi Chain Co. Ltd. Class A	68,197	49,703
Chengdu Kanghong Pharmaceutical Group Co. Ltd. Class A	10,100	22,014
Chengtun Mining Group Co. Ltd. Class A (a)	54,600	35,072
Chengxin Lithium Group Co. Ltd. Class A	8,200	25,166
China Baoan Group Co. Ltd. Class A	57,800	82,665
China Cinda Asset Management Co. Ltd. Class H	798,600	80,555
China CITIC Bank Corp. Ltd. Class H	576,341	267,865
China Coal Energy Co. Ltd. Class H	86,000	67,422
China Communications Services Corp. Ltd. Class H	94,000	39,487
China Conch Environment Protection Holdings Ltd. (a)(c)	110,083	23,614
China Conch Venture Holdings Ltd.	105,583	90,055
China Construction Bank Corp. Class H	5,844,647	3,298,498
China Dongxiang Group Co. Ltd.	319,000	10,997
China Eastern Airlines Corp. Ltd. Class H (a)(c)	130,000	44,319
China Education Group Holdings Ltd. (c)	38,000	30,907
China Everbright Bank Co. Ltd. Class A	199,630	84,118
China Everbright Environment Group Ltd.	290,000	99,976
China Everbright Ltd.	86,000	49,743
China Feihe Ltd. (b)	120,000	70,788
China Galaxy Securities Co. Ltd. Class A	27,100	40,878
China Galaxy Securities Co. Ltd. Class H	250,100	129,012
China Gas Holdings Ltd.	185,800	175,318
China Great Wall Securities Co. Ltd. Class A	19,000	21,645
China International Capital Corp. Ltd. Class H (b)	60,400	110,746
China International Marine Containers Group Co. Ltd. Class H	106,900	61,695
China Jinmao Holdings Group Ltd.	367,722	47,422
China Kings Resources Group Co. Ltd. Class A	31,611	128,427

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
China Lesso Group Holdings Ltd.	97,000	$ 51,647
China Life Insurance Co. Ltd. Class H	671,261	1,045,651
China Lilang Ltd.	53,000	24,903
China Literature Ltd. (a)(b)	7,000	25,607
China Longyuan Power Group Corp. Ltd. Class H	344,637	300,111
China Medical System Holdings Ltd.	117,000	177,177
China Meheco Co. Ltd. Class A	32,380	55,020
China Meidong Auto Holdings Ltd.	14,000	7,669
China Mengniu Dairy Co. Ltd.	250,041	838,062
China Merchants Bank Co. Ltd. Class A	113,645	514,275
China Merchants Bank Co. Ltd. Class H	256,946	1,072,816
China Merchants Port Holdings Co. Ltd.	212,831	264,957
China Merchants Securities Co. Ltd. Class A	34,266	65,750
China Merchants Shekou Industrial Zone Holdings Co. Ltd. Class A	35,000	59,520
China Minsheng Banking Corp. Ltd. Class H	367,220	125,660
China National Accord Medicines Corp. Ltd. Class B	17,290	30,731
China National Building Material Co. Ltd. Class H	292,000	153,236
China Northern Rare Earth Group High-Tech Co. Ltd. Class A	16,800	50,245
China Oilfield Services Ltd. Class H	98,557	118,291
China Overseas Land & Investment Ltd.	326,169	676,339
China Overseas Property Holdings Ltd.	172,361	194,548
China Pacific Insurance Group Co. Ltd. Class A	15,900	62,393
China Pacific Insurance Group Co. Ltd. Class H	205,397	514,027
China Petroleum & Chemical Corp. Class H	1,315,421	718,860
China Power International Development Ltd. (c)	502,000	182,677
China Railway Group Ltd. Class H	442,000	228,002
China Rare Earth Resources & Technology Co. Ltd. Class A	3,200	12,645
China Resources Beer Holdings Co. Ltd.	131,590	721,642
China Resources Cement Holdings Ltd.	34,000	8,726

Security Description	Shares	Value
China Resources Gas Group Ltd.	62,300	$ 182,560
China Resources Land Ltd.	234,232	933,118
China Resources Medical Holdings Co. Ltd.	44,500	29,148
China Resources Power Holdings Co. Ltd.	223,695	426,720
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. Class A	9,800	67,416
China Shenhua Energy Co. Ltd. Class H	288,523	935,728
China South City Holdings Ltd. (c)	252,000	14,640
China Southern Airlines Co. Ltd. Class H (a)(c)	176,000	85,620
China State Construction Engineering Corp. Ltd. Class A	139,400	105,807
China Taiping Insurance Holdings Co. Ltd.	87,141	86,787
China Testing & Certification International Group Co. Ltd. Class A	52,756	78,782
China Tourism Group Duty Free Corp. Ltd. Class A	10,000	145,448
China Tower Corp. Ltd. Class H (b)	2,698,000	258,368
China TransInfo Technology Co. Ltd. Class A (a)	24,400	39,987
China Travel International Investment Hong Kong Ltd.	166,000	31,793
China Vanke Co. Ltd. Class A	46,600	83,660
China Vanke Co. Ltd. Class H	99,800	110,098
China Yangtze Power Co. Ltd. Class A	117,300	358,062
China Yongda Automobiles Services Holdings Ltd.	69,500	26,888
China Zhenhua Group Science & Technology Co. Ltd. Class A	14,800	164,479
Chinasoft International Ltd.	138,000	98,322
Chlitina Holding Ltd.	19,000	110,655
Chongqing Brewery Co. Ltd. Class A	7,500	87,767
Chongqing Changan Automobile Co. Ltd. Class A	28,554	52,673
Chongqing Changan Automobile Co. Ltd. Class B	137,556	63,405
Chongqing Fuling Electric Power Industrial Co. Ltd. Class A	40,994	72,977
Chongqing Gas Group Corp. Ltd. Class A	157,400	148,418
Chongqing Rural Commercial Bank Co. Ltd. Class H	142,000	52,399

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Chongqing Zaisheng Technology Corp. Ltd. Class A	330,000	$ 204,275
Chongqing Zhifei Biological Products Co. Ltd. Class A	13,200	88,178
Chongqing Zongshen Power Machinery Co. Ltd. Class A	49,100	46,029
Chow Tai Seng Jewellery Co. Ltd. Class A	21,732	52,796
CITIC Ltd.	420,000	386,116
CITIC Resources Holdings Ltd.	2,000	89
CITIC Securities Co. Ltd. Class A	40,575	120,626
CITIC Securities Co. Ltd. Class H	178,350	361,626
CITIC Telecom International Holdings Ltd.	141,000	55,811
CMOC Group Ltd. Class H	288,000	184,968
CMST Development Co. Ltd. Class A	83,500	60,742
CNNC Hua Yuan Titanium Dioxide Co. Ltd. Class A	92,835	58,868
Consun Pharmaceutical Group Ltd.	120,400	78,249
Contemporary Amperex Technology Co. Ltd. Class A	21,281	593,032
COSCO SHIPPING Development Co. Ltd. Class H	869,339	94,350
COSCO SHIPPING Energy Transportation Co. Ltd. Class H (c)	173,215	189,319
COSCO SHIPPING Holdings Co. Ltd. Class A	152,500	205,336
COSCO SHIPPING Holdings Co. Ltd. Class H	107,450	110,169
COSCO SHIPPING Ports Ltd.	36,456	23,833
Country Garden Holdings Co. Ltd. (a)(c)	560,825	65,163
Country Garden Services Holdings Co. Ltd. (c)	59,865	61,762
CQ Pharmaceutical Holding Co. Ltd. Class A	61,500	47,946
CSC Financial Co. Ltd. Class A	13,700	46,276
CSG Holding Co. Ltd. Class B	138,950	43,644
CSPC Pharmaceutical Group Ltd.	586,320	429,717
CStone Pharmaceuticals (a)(b)(c)	43,500	10,275
CTS International Logistics Corp. Ltd. Class A	52,980	51,557
Daan Gene Co. Ltd. Class A	45,960	61,631
Dada Nexus Ltd. ADR (a)	808	3,596
Dalian Huarui Heavy Industry Group Co. Ltd. Class A	83,800	54,289
Daqo New Energy Corp. ADR (a)	4,403	133,279

Security Description	Shares	Value
Datang International Power Generation Co. Ltd. Class H (c)	234,000	$ 36,451
Dazhong Transportation Group Co. Ltd. Class B	69,450	13,612
Deppon Logistics Co. Ltd. Class A (a)	24,200	51,218
DHC Software Co. Ltd. Class A	69,900	62,361
Digital China Group Co. Ltd. Class A	24,400	92,466
Digital China Information Service Group Co. Ltd. Class A	29,700	47,654
Do-Fluoride New Materials Co. Ltd. Class A	10,220	22,514
Dongfang Electric Corp. Ltd. Class H	6,600	7,332
Dongfeng Motor Group Co. Ltd. Class H	312,468	123,282
Dongyue Group Ltd.	85,000	63,925
Double Medical Technology, Inc. Class A (a)	9,800	43,756
East Buy Holding Ltd. (a)(b)(c)	29,000	136,820
East Group Co. Ltd. Class A	255,600	216,106
East Money Information Co. Ltd. Class A	12,100	25,244
Ecovacs Robotics Co. Ltd. Class A	10,700	71,228
Eve Energy Co. Ltd. Class A	22,600	139,960
Everbright Securities Co. Ltd. Class A	25,200	57,624
Fanhua, Inc. ADR (a)	6,801	49,035
Far East Horizon Ltd. (c)	200,000	144,027
FAW Jiefang Group Co. Ltd. Class A (a)	33,800	40,268
FIH Mobile Ltd. (a)	148,000	12,661
First Tractor Co. Ltd. Class H (c)	40,000	20,378
Flat Glass Group Co. Ltd. Class A	23,000	89,402
Flat Glass Group Co. Ltd. Class H (c)	19,000	42,697
Focus Media Information Technology Co. Ltd. Class A	77,200	75,762
Foran Energy Group Co. Ltd. Class A	32,370	53,359
Foshan Haitian Flavouring & Food Co. Ltd. Class A	25,001	130,362
Foxconn Industrial Internet Co. Ltd. Class A	98,700	266,876
Fufeng Group Ltd.	77,000	43,358
Fujian Star-net Communication Co. Ltd. Class A	55,000	146,375
Fujian Sunner Development Co. Ltd. Class A	12,300	32,414
Full Truck Alliance Co. Ltd. ADR (a)(c)	28,494	200,598

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Fuyao Glass Industry Group Co. Ltd. Class A	14,800	$ 74,998
Ganfeng Lithium Group Co. Ltd. Class A	12,780	78,233
Ganfeng Lithium Group Co. Ltd. Class H (b)	17,000	69,786
Gaotu Techedu, Inc. ADR (a)(c)	35,654	98,405
GCL System Integration Technology Co. Ltd. Class A (a)	61,900	24,384
GCL Technology Holdings Ltd.	223,000	41,571
GDS Holdings Ltd. Class A (a)	35,420	48,844
Geely Automobile Holdings Ltd.	376,709	444,440
Genimous Technology Co. Ltd. Class A (a)	38,000	33,693
Genscript Biotech Corp. (a)	80,000	210,934
Getein Biotech, Inc. Class A	27,928	42,971
GF Securities Co. Ltd. Class H	76,800	103,160
Giant Network Group Co. Ltd. Class A	18,800	33,390
GigaDevice Semiconductor, Inc. Class A	4,828	65,339
Ginlong Technologies Co. Ltd. Class A	2,800	30,172
GoerTek, Inc. Class A	23,300	50,465
Goke Microelectronics Co. Ltd. Class A	7,900	78,504
Golden Solar New Energy Technology Holdings Ltd. (a)(c)	52,000	41,829
GoldenHome Living Co. Ltd. Class A	15,848	58,905
Goldenmax International Group Ltd. Class A	154,600	196,917
Goldwind Science & Technology Co. Ltd. Class A	28,100	35,599
Goldwind Science & Technology Co. Ltd. Class H	22,059	11,125
GoodWe Technologies Co. Ltd. Class A	2,907	52,744
Gotion High-tech Co. Ltd. Class A (a)	42,700	135,970
Grandblue Environment Co. Ltd. Class A	17,228	40,861
Great Wall Motor Co. Ltd. Class H (c)	246,992	294,554
Gree Real Estate Co. Ltd. Class A (a)	59,300	59,090
Greentown China Holdings Ltd.	74,500	77,336
Grinm Advanced Materials Co. Ltd. Class A	25,800	42,706
Guangdong Create Century Intelligent Equipment Group Corp. Ltd. Class A (a)	112,400	101,204
Guangdong Haid Group Co. Ltd. Class A	8,900	55,276
Guangdong Hongda Holdings Group Co. Ltd. Class A	18,000	55,119

Security Description	Shares	Value
Guangdong Investment Ltd.	240,000	$ 183,252
Guangdong Kinlong Hardware Products Co. Ltd. Class A	1,400	9,979
Guangdong Xinbao Electrical Appliances Holdings Co. Ltd. Class A	31,200	75,498
Guangshen Railway Co. Ltd. Class H (a)	36,500	8,063
Guangzhou Automobile Group Co. Ltd. Class H	250,844	123,951
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd. Class H	46,000	132,446
Guangzhou Great Power Energy & Technology Co. Ltd. Class A (a)	5,800	26,286
Guangzhou Haige Communications Group, Inc. Co. Class A	139,500	215,786
Guangzhou Kingmed Diagnostics Group Co. Ltd. Class A	7,892	67,549
Guangzhou R&F Properties Co. Ltd. Class H (a)(c)	160,176	25,769
Guangzhou Restaurant Group Co. Ltd. Class A	13,800	43,148
Guangzhou Tinci Materials Technology Co. Ltd. Class A	10,520	39,029
Guizhou Panjiang Refined Coal Co. Ltd. Class A	87,584	74,171
Guocheng Mining Co. Ltd. Class A	35,400	51,455
Guolian Securities Co. Ltd. Class A (a)	1,500	2,182
Guosen Securities Co. Ltd. Class A	32,900	41,589
Guosheng Financial Holding, Inc. Class A (a)	1,900	2,454
Guotai Junan Securities Co. Ltd. Class A	29,800	59,471
H World Group Ltd. (a)	117,620	463,310
Haidilao International Holding Ltd. (b)	49,000	131,387
Haier Smart Home Co. Ltd. Class A	26,600	86,163
Haier Smart Home Co. Ltd. Class H	142,898	449,758
Hainan Strait Shipping Co. Ltd. Class A	209,775	166,997
Haisco Pharmaceutical Group Co. Ltd. Class A (a)	15,800	50,355
Haitian International Holdings Ltd.	49,000	103,858
Haitong Securities Co. Ltd. Class A	22,400	30,591
Haitong Securities Co. Ltd. Class H	238,400	143,067
Hang Zhou Great Star Industrial Co. Ltd. Class A	37,500	100,316

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Hangcha Group Co. Ltd. Class A	33,360	$ 117,080
Hangjin Technology Co. Ltd. Class A	4,200	18,637
Hangzhou Chang Chuan Technology Co. Ltd. Class A	10,100	46,482
Hangzhou Oxygen Plant Group Co. Ltd. Class A	19,600	87,350
Hangzhou Robam Appliances Co. Ltd. Class A	12,500	46,238
Hangzhou Silan Microelectronics Co. Ltd. Class A	16,700	55,837
Hangzhou Tigermed Consulting Co. Ltd. Class A	10,100	92,325
Han's Laser Technology Industry Group Co. Ltd. Class A	9,000	28,510
Hansoh Pharmaceutical Group Co. Ltd. (b)	40,000	54,444
Harbin Boshi Automation Co. Ltd. Class A	30,689	67,437
Health & Happiness H&H International Holdings Ltd.	18,000	22,340
Hebei Hengshui Laobaigan Liquor Co. Ltd. Class A	3,200	10,190
Hefei Meiya Optoelectronic Technology, Inc. Class A	12,950	37,291
Hello Group, Inc. ADR	10,870	75,873
Henan Lingrui Pharmaceutical Co. Class A	33,300	81,859
Henan Shuanghui Investment & Development Co. Ltd. Class A	16,900	61,214
Henan Yicheng New Energy Co. Ltd. Class A (a)	185,600	127,627
Henan Yuguang Gold & Lead Co. Ltd. Class A	29,000	26,151
Hengan International Group Co. Ltd.	59,500	189,550
Hengdian Group DMEGC Magnetics Co. Ltd. Class A	37,400	83,878
Hengli Petrochemical Co. Ltd. Class A (a)	25,100	49,609
Hexing Electrical Co. Ltd. Class A	17,600	64,426
Hiconics Eco-energy Technology Co. Ltd. Class A (a)	396,100	279,987
Hisense Home Appliances Group Co. Ltd. Class A	34,500	111,421
Hoyuan Green Energy Co. Ltd. Class A	20,035	115,165
Hua Hong Semiconductor Ltd. (a)(b)	35,000	88,664
Huabao Flavours & Fragrances Co. Ltd. Class A	1,700	5,213
Huadian Power International Corp. Ltd. Class H (c)	144,000	59,572

Security Description	Shares	Value
Huadong Medicine Co. Ltd. Class A	14,300	$ 82,906
Huafon Chemical Co. Ltd. Class A	57,000	55,312
Hualan Biological Engineering, Inc. Class A	18,544	56,504
Huaneng Power International, Inc. Class H (a)(c)	446,472	216,627
Huangshan Tourism Development Co. Ltd. Class B (a)	49,400	35,469
Huatai Securities Co. Ltd. Class A	48,500	105,244
Huatai Securities Co. Ltd. Class H (b)	51,000	65,119
Huayu Automotive Systems Co. Ltd. Class A	16,000	41,220
Hubei Biocause Pharmaceutical Co. Ltd. Class A	46,800	20,041
Hubei Dinglong Co. Ltd. Class A	5,600	16,110
Huizhou Desay Sv Automotive Co. Ltd. Class A	10,100	199,123
Hunan Aihua Group Co. Ltd. Class A	13,800	40,269
Hundsun Technologies, Inc. Class A	17,218	76,687
HUYA, Inc. ADR (a)	3,976	11,292
Hytera Communications Corp. Ltd. Class A (a)	182,300	154,132
HyUnion Holding Co. Ltd. Class A (a)	18,700	16,786
Iflytek Co. Ltd. Class A	11,800	82,049
IKD Co. Ltd. Class A	25,200	84,706
I-Mab ADR (a)(c)	1,171	1,546
Industrial & Commercial Bank of China Ltd. Class H	4,604,028	2,216,231
Industrial Bank Co. Ltd. Class A	96,600	215,985
INESA Intelligent Tech, Inc. Class B	382,500	226,822
Inner Mongolia Dian Tou Energy Corp. Ltd. Class A	45,700	86,310
Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd. Class A	135,900	76,290
Inner Mongolia Yili Industrial Group Co. Ltd. Class A	20,400	74,284
Inner Mongolia Yitai Coal Co. Ltd. Class B (a)	154,281	215,839
Inner Mongolia Yuan Xing Energy Co. Ltd. Class A	43,100	41,824
InnoCare Pharma Ltd. (a)(b)(c)	31,000	23,551
Innovent Biologics, Inc. (a)(b)	59,500	290,592
Intco Medical Technology Co. Ltd. Class A	5,580	17,117
iQIYI, Inc. ADR (a)	17,037	80,755

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
JA Solar Technology Co. Ltd. Class A	20,584	$ 72,270
Jason Furniture Hangzhou Co. Ltd. Class A	10,410	57,853
JD Health International, Inc. (a)(b)(c)	53,000	274,750
JD.com, Inc. Class A	148,497	2,182,371
Jiajiayue Group Co. Ltd. Class A	17,100	26,592
Jiangsu Eastern Shenghong Co. Ltd. Class A	16,800	26,633
Jiangsu Expressway Co. Ltd. Class H	256,299	231,367
Jiangsu Guotai International Group Co. Ltd. Class A	101,300	103,584
Jiangsu Hengli Hydraulic Co. Ltd. Class A	10,782	94,564
Jiangsu Hengrui Pharmaceuticals Co. Ltd. Class A	34,956	215,616
Jiangsu Hoperun Software Co. Ltd. Class A (a)	17,100	53,161
Jiangsu King's Luck Brewery JSC Ltd. Class A	10,000	80,527
Jiangsu Shagang Co. Ltd. Class A	89,500	48,646
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd. Class A	7,100	126,101
Jiangsu Yangnong Chemical Co. Ltd. Class A	9,880	93,569
Jiangsu Yoke Technology Co. Ltd. Class A	25,500	226,099
Jiangsu Yuyue Medical Equipment & Supply Co. Ltd. Class A	16,097	76,091
Jiangsu Zhongnan Construction Group Co. Ltd. Class A (a)	43,500	9,613
Jiangxi Copper Co. Ltd. Class H	190,578	298,818
Jiangxi Lianchuang Optoelectronic Science & Technology Co. Ltd. Class A	20,600	92,853
Jinke Properties Group Co. Ltd. Class A (a)	73,400	17,530
JinkoSolar Holding Co. Ltd. ADR (a)(c)	2,612	79,326
Jinneng Science&Technology Co. Ltd. Class A	146,200	167,756
JiuGui Liquor Co. Ltd. Class A	400	4,843
Jizhong Energy Resources Co. Ltd. Class A	129,000	119,337
JL Mag Rare-Earth Co. Ltd. Class A	5,120	11,694
Joincare Pharmaceutical Group Industry Co. Ltd. Class A	30,800	52,378
Joinn Laboratories China Co. Ltd. Class A	26,832	87,724

Security Description	Shares	Value
Jointown Pharmaceutical Group Co. Ltd. Class A	33,972	$ 50,498
Joy City Property Ltd.	66,000	2,149
Joyoung Co. Ltd. Class A	21,800	42,578
JOYY, Inc. ADR	2,886	109,985
Juewei Food Co. Ltd. Class A	8,000	41,264
JW Cayman Therapeutics Co. Ltd. (a)(b)	23,000	6,079
Kama Co. Ltd. Class B (a)	179,449	67,114
Kandi Technologies Group, Inc. (a)	4,048	14,006
Kanzhun Ltd. ADR (a)	13,240	200,851
KE Holdings, Inc. ADR	32,843	509,723
Keshun Waterproof Technologies Co. Ltd. Class A	6,220	6,309
Kingboard Holdings Ltd.	74,200	166,555
KingClean Electric Co. Ltd. Class A	17,940	65,646
Kingdee International Software Group Co. Ltd. (a)	164,000	201,863
Kingsoft Cloud Holdings Ltd. (a)(c)	6,390	2,113
Kingsoft Corp. Ltd.	72,200	261,813
Kintor Pharmaceutical Ltd. (a)(b)(c)	23,000	8,047
Kuaishou Technology (a)(b)	99,894	801,642
Kuang-Chi Technologies Co. Ltd. Class A	31,600	62,630
Kunlun Energy Co. Ltd.	304,000	262,007
Kweichow Moutai Co. Ltd. Class A	6,271	1,548,050
KWG Group Holdings Ltd. (a)(c)	119,451	13,879
KWG Living Group Holdings Ltd. (a)	54,416	3,891
LB Group Co. Ltd. Class A	4,400	11,094
Lee & Man Paper Manufacturing Ltd.	153,000	44,737
Lenovo Group Ltd.	517,703	533,445
Lens Technology Co. Ltd. Class A	7,900	13,315
LexinFintech Holdings Ltd. ADR	5,315	11,746
Li Auto, Inc. Class A (a)	65,228	1,151,839
Li Ning Co. Ltd.	162,257	682,644
Lier Chemical Co. Ltd. Class A	81,760	143,753
Lifetech Scientific Corp. (a)	170,000	52,095
Lingyi iTech Guangdong Co. Class A	37,600	29,520
Livzon Pharmaceutical Group, Inc. Class H	28,997	94,968
Lizhong Sitong Light Alloys Group Co. Ltd. Class A	5,400	16,773
Longfor Group Holdings Ltd. (b)	98,476	177,039
LONGi Green Energy Technology Co. Ltd. Class A	51,212	191,753

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Lu Thai Textile Co. Ltd. Class B	48,200	$ 29,110
Luenmei Quantum Co. Ltd. Class A	140,300	117,081
Lufax Holding Ltd. ADR	8,998	9,538
Lushang Freda Pharmaceutical Co. Ltd. Class A (a)	300	366
Luxshare Precision Industry Co. Ltd. Class A	44,308	181,349
Luye Pharma Group Ltd. (a)(b)(c)	143,000	64,088
Luzhou Laojiao Co. Ltd. Class A	8,400	249,783
Maanshan Iron & Steel Co. Ltd. Class A	183,500	66,491
Mango Excellent Media Co. Ltd. Class A	1,400	5,440
Maxscend Microelectronics Co. Ltd. Class A	2,592	41,518
Mayinglong Pharmaceutical Group Co. Ltd. Class A	17,000	53,783
Meinian Onehealth Healthcare Holdings Co. Ltd. Class A (a)	40,000	37,333
Meituan Class B (a)(b)	249,717	3,653,998
Metallurgical Corp. of China Ltd. Class H	304,000	64,046
Microport Scientific Corp. (a)(c)	52,563	79,463
Milkyway Chemical Supply Chain Service Co. Ltd. Class A	8,000	81,265
Ming Yuan Cloud Group Holdings Ltd. (a)(c)	34,000	14,890
MINISO Group Holding Ltd. ADR	5,200	134,680
Minth Group Ltd.	58,000	149,224
MLS Co. Ltd. Class A	26,400	32,430
Montnets Cloud Technology Group Co. Ltd. Class A (a)	17,500	35,068
Muyuan Foods Co. Ltd. Class A	28,914	150,369
NanJi E-Commerce Co. Ltd. Class A (a)	32,100	15,729
Nanjing Hanrui Cobalt Co. Ltd. Class A	1,000	4,082
Nanjing King-Friend Biochemical Pharmaceutical Co. Ltd. Class A	17,847	31,085
NARI Technology Co. Ltd. Class A	45,036	137,165
NAURA Technology Group Co. Ltd. Class A	700	23,184
NavInfo Co. Ltd. Class A (a)	23,300	32,396
NetDragon Websoft Holdings Ltd.	43,000	79,501
NetEase, Inc.	130,670	2,661,168
New China Life Insurance Co. Ltd. Class A	8,600	43,474
New China Life Insurance Co. Ltd. Class H	56,600	136,444

Security Description	Shares	Value
New Hope Liuhe Co. Ltd. Class A (a)	27,900	$ 42,123
New Oriental Education & Technology Group, Inc. (a)	111,110	676,717
Newborn Town, Inc. (a)	102,000	26,829
Newland Digital Technology Co. Ltd. Class A (a)	18,299	47,846
Ningbo Huaxiang Electronic Co. Ltd. Class A	20,400	39,928
Ningbo Orient Wires & Cables Co. Ltd. Class A	2,400	13,114
Ningbo Sanxing Medical Electric Co. Ltd. Class A	35,100	87,295
Ningbo Tuopu Group Co. Ltd. Class A	22,300	226,895
Ningbo Xusheng Group Co. Ltd. Class A	18,608	59,994
NIO, Inc. ADR (a)	92,842	839,292
Niu Technologies ADR (a)	2,749	7,780
Noah Holdings Ltd. ADR	2,041	25,451
Nongfu Spring Co. Ltd. Class H (b)(c)	44,800	257,410
Offcn Education Technology Co. Ltd. Class A (a)	23,300	11,993
Offshore Oil Engineering Co. Ltd. Class A	25,500	22,680
Oppein Home Group, Inc. Class A	9,880	130,034
Orient Securities Co. Ltd. Class A	39,456	51,881
PCI Technology Group Co. Ltd. Class A (a)	43,790	34,019
PDD Holdings, Inc. ADR (a)	38,391	3,765,005
People's Insurance Co. Group of China Ltd. Class A	21,800	17,654
People's Insurance Co. Group of China Ltd. Class H	397,000	142,440
Perfect World Co. Ltd. Class A	16,200	29,350
PetroChina Co. Ltd. Class A	300,900	329,572
PetroChina Co. Ltd. Class H	749,208	564,404
Pharmaron Beijing Co. Ltd. Class A	13,500	57,626
PhiChem Corp. Class A	9,900	21,755
PICC Property & Casualty Co. Ltd. Class H	602,433	773,824
Ping An Bank Co. Ltd. Class A	109,800	168,790
Ping An Healthcare & Technology Co. Ltd. (a)(b)(c)	25,800	60,219
Ping An Insurance Group Co. of China Ltd. Class A	33,800	224,073
Ping An Insurance Group Co. of China Ltd. Class H	385,182	2,205,790
Pingdingshan Tianan Coal Mining Co. Ltd. Class A	91,700	129,764
Poly Developments & Holdings Group Co. Ltd. Class A	46,600	81,486
Poly Property Group Co. Ltd.	210,155	47,763

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Pop Mart International Group Ltd. (b)	18,000	$ 53,206
Postal Savings Bank of China Co. Ltd. Class H (b)	307,000	155,228
Pylon Technologies Co. Ltd. Class A	1,682	30,174
Qianhe Condiment & Food Co. Ltd. Class A	27,048	64,337
Qifu Technology, Inc. ADR	3,306	50,780
Qingdao East Steel Tower Stock Co. Ltd. Class A	149,100	149,596
Qudian, Inc. ADR (a)	9,801	20,778
Rainbow Digital Commercial Co. Ltd. Class A	27,500	21,439
Red Avenue New Materials Group Co. Ltd. Class A	2,100	9,385
RLX Technology, Inc. ADR (a)(c)	45,539	68,764
Roshow Technology Co. Ltd. Class A (a)	171,300	162,465
SAIC Motor Corp. Ltd. Class A	31,500	63,988
Sailun Group Co. Ltd. Class A	63,300	109,558
Sany Heavy Industry Co. Ltd. Class A	37,600	82,004
Satellite Chemical Co. Ltd. Class A	51,491	108,343
Seazen Group Ltd. (a)(c)	108,952	19,893
Seazen Holdings Co. Ltd. Class A (a)	13,600	24,733
SF Holding Co. Ltd. Class A	12,500	70,000
Shaanxi Coal Industry Co. Ltd. Class A	55,100	139,608
Shandong Chenming Paper Holdings Ltd. Class H (a)	43,350	12,731
Shandong Dawn Polymer Co. Ltd. Class A	5,900	10,973
Shandong Denghai Seeds Co. Ltd. Class A (a)	3,400	6,641
Shandong Gold Mining Co. Ltd. Class A	30,660	105,668
Shandong Himile Mechanical Science & Technology Co. Ltd. Class A	15,300	73,920
Shandong Hi-Speed New Energy Group Ltd. (a)	9,007	3,151
Shandong Linglong Tyre Co. Ltd. Class A	14,400	40,162
Shandong Molong Petroleum Machinery Co. Ltd. Class A (a)	114,100	70,003
Shandong Weigao Group Medical Polymer Co. Ltd. Class H	160,000	140,554
Shandong Xinhua Pharmaceutical Co. Ltd. Class A	27,100	74,875

Security Description	Shares	Value
Shandong Yisheng Livestock & Poultry Breeding Co. Ltd. Class A (a)	21,760	$ 33,540
Shanghai AtHub Co. Ltd. Class A	27,688	78,248
Shanghai Bairun Investment Holding Group Co. Ltd. Class A	26,736	105,795
Shanghai Baosight Software Co. Ltd. Class A	14,731	91,349
Shanghai Baosight Software Co. Ltd. Class B	73,228	154,145
Shanghai Belling Co. Ltd. Class A	63,500	135,441
Shanghai Chlor-Alkali Chemical Co. Ltd. Class B	108,000	52,704
Shanghai Daimay Automotive Interior Co. Ltd. Class A	36,593	88,246
Shanghai Electric Group Co. Ltd. Class H (a)	314,418	73,467
Shanghai Fengyuzhu Culture & Technology Co. Ltd. Class A	36,551	59,098
Shanghai Fosun Pharmaceutical Group Co. Ltd. Class A	10,700	42,003
Shanghai Fosun Pharmaceutical Group Co. Ltd. Class H	24,500	57,560
Shanghai Fudan Microelectronics Group Co. Ltd. Class H (c)	30,000	64,353
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co. Ltd. Class H	131,000	42,987
Shanghai Haixin Group Co. Class B	179,713	54,453
Shanghai Haohai Biological Technology Co. Ltd. Class H (b)(c)	8,300	48,061
Shanghai Henlius Biotech, Inc. Class H (a)(b)	1,400	1,859
Shanghai Industrial Holdings Ltd.	35,000	43,974
Shanghai International Airport Co. Ltd. Class A (a)	12,200	63,447
Shanghai International Port Group Co. Ltd. Class A	97,200	68,707
Shanghai Jin Jiang Online Network Service Co. Ltd. Class B	109,896	56,377
Shanghai Jinjiang International Travel Co. Ltd. Class B	48,874	71,307
Shanghai Jinqiao Export Processing Zone Development Co. Ltd. Class A	23,500	39,093
Shanghai Junshi Biosciences Co. Ltd. Class A (a)	7,957	42,047

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd. Class B	150,664	$ 61,170
Shanghai M&G Stationery, Inc. Class A	8,196	41,060
Shanghai Mechanical & Electrical Industry Co. Ltd. Class B	47,084	47,272
Shanghai Medicilon, Inc. Class A	3,451	36,017
Shanghai New Power Automotive Technology Co. Ltd. Class B (a)	172,500	35,880
Shanghai Pharmaceuticals Holding Co. Ltd. Class A	17,000	42,186
Shanghai Pharmaceuticals Holding Co. Ltd. Class H	49,500	77,235
Shanghai Pudong Development Bank Co. Ltd. Class A	70,600	68,800
Shanghai Putailai New Energy Technology Co. Ltd. Class A	27,661	111,202
Shanghai RAAS Blood Products Co. Ltd. Class A	41,300	39,453
Shanghai Runda Medical Technology Co. Ltd. Class A	28,500	58,129
Shanghai Wanye Enterprises Co. Ltd. Class A	27,600	59,664
Shanghai Zhangjiang High-Tech Park Development Co. Ltd. Class A	18,700	60,316
Shanghai Zhenhua Heavy Industries Co. Ltd. Class B (a)	129,700	27,885
Shanxi Blue Flame Holding Co. Ltd. Class A	39,600	43,210
Shanxi Coking Coal Energy Group Co. Ltd. Class A	62,070	85,705
Shanxi Lu'an Environmental Energy Development Co. Ltd. Class A	35,000	91,226
Shanxi Meijin Energy Co. Ltd. Class A (a)	35,400	34,109
Shanxi Xinghuacun Fen Wine Factory Co. Ltd. Class A	9,800	322,149
Shengda Resources Co. Ltd. Class A (a)	19,600	38,766
Shengyi Technology Co. Ltd. Class A	19,600	41,321
Shenyang Xingqi Pharmaceutical Co. Ltd. Class A	420	8,620
Shenzhen Agricultural Products Group Co. Ltd. Class A	69,000	65,252
Shenzhen Aisidi Co. Ltd. Class A	49,400	50,514
Shenzhen Capchem Technology Co. Ltd. Class A	3,880	23,336
Shenzhen Das Intellitech Co. Ltd. Class A	113,083	50,133

Security Description	Shares	Value
Shenzhen Expressway Corp. Ltd. Class H	29,000	$ 23,698
Shenzhen Fastprint Circuit Tech Co. Ltd. Class A	36,900	61,840
Shenzhen Gas Corp. Ltd. Class A	44,800	42,182
Shenzhen Gongjin Electronics Co. Ltd. Class A	99,400	160,033
Shenzhen H&T Intelligent Control Co. Ltd. Class A	79,400	155,405
Shenzhen Huaqiang Industry Co. Ltd. Class A	20,400	31,388
Shenzhen Investment Ltd.	232,197	37,060
Shenzhen Kangtai Biological Products Co. Ltd. Class A (a)	4,820	19,364
Shenzhen Kingdom Sci-Tech Co. Ltd. Class A	13,300	23,147
Shenzhen Kinwong Electronic Co. Ltd. Class A	12,020	35,388
Shenzhen Megmeet Electrical Co. Ltd. Class A	40,600	171,132
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. Class A	3,600	133,317
Shenzhen MTC Co. Ltd. Class A	119,400	82,105
Shenzhen Neptunus Bioengineering Co. Ltd. Class A (a)	89,993	37,673
Shenzhen SC New Energy Technology Corp. Class A	600	6,255
Shenzhen Senior Technology Material Co. Ltd. Class A	11,340	20,343
Shenzhen Sunlord Electronics Co. Ltd. Class A	13,000	51,317
Shenzhen Suntak Circuit Technology Co. Ltd. Class A	87,600	135,985
Shenzhen World Union Group, Inc. Class A (a)	14,800	5,485
Shenzhen Ysstech Info-tech Co. Ltd. Class A	125,500	147,105
Shenzhou International Group Holdings Ltd.	38,587	369,520
Shijiazhuang Changshan BeiMing Technology Co. Ltd. Class A (a)	52,400	62,356
Sichuan Kelun Pharmaceutical Co. Ltd. Class A	12,200	48,812
Sichuan New Energy Power Co. Ltd. Class A (a)	14,300	23,357
Sichuan Yahua Industrial Group Co. Ltd. Class A	3,600	7,402
Sinofibers Technology Co. Ltd. Class A	21,400	102,950
Sinoma Science & Technology Co. Ltd. Class A	22,300	62,929
Sino-Ocean Group Holding Ltd. (a)(c)	607,711	35,306

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Sinopec Oilfield Service Corp. Class A (a)	137,100	$ 40,081
Sinopec Oilfield Service Corp. Class H (a)	6,000	475
Sinopec Shanghai Petrochemical Co. Ltd. Class H (a)	444,878	63,052
Sinopharm Group Co. Ltd. Class H	88,800	257,380
Sinotrans Ltd. Class H	169,000	61,715
Sinotruk Hong Kong Ltd.	24,000	46,211
SITC International Holdings Co. Ltd.	140,000	235,245
Skshu Paint Co. Ltd. Class A (a)	19,446	182,910
Skyworth Digital Co. Ltd. Class A	31,500	58,973
Smoore International Holdings Ltd. (b)(c)	94,000	85,336
Sohu.com Ltd. ADR (a)	3,272	30,822
SooChow Securities Co. Ltd. Class A	46,390	53,676
SOS Ltd. ADR (a)	16	70
South Manganese Investment Ltd. (a)(c)(d)	408,000	19,340
State Grid Information & Communication Co. Ltd. Class A	6,300	13,265
STO Express Co. Ltd. Class A (a)	18,094	26,077
Sun Art Retail Group Ltd. (c)	167,000	35,396
Sunac Services Holdings Ltd. (b)	8,751	2,760
Sungrow Power Supply Co. Ltd. Class A	11,800	144,970
Suning Universal Co. Ltd. Class A	79,800	30,887
Sunny Optical Technology Group Co. Ltd.	50,829	355,005
Sunresin New Materials Co. Ltd. Class A	3,675	29,457
Sunward Intelligent Equipment Co. Ltd. Class A (a)	68,400	57,080
Sunwoda Electronic Co. Ltd. Class A	17,000	39,433
Suzhou Dongshan Precision Manufacturing Co. Ltd. Class A	14,400	34,272
Suzhou Maxwell Technologies Co. Ltd. Class A	7,182	124,817
Taiji Computer Corp. Ltd. Class A	15,079	63,331
TAL Education Group ADR (a)	30,549	278,301
TCL Electronics Holdings Ltd. (a)	94,000	36,607
TCL Zhonghuan Renewable Energy Technology Co. Ltd. Class A	28,225	90,574

Security Description	Shares	Value
Tencent Holdings Ltd.	357,296	$ 13,969,118
Tencent Music Entertainment Group ADR (a)	13,792	87,993
Tianma Microelectronics Co. Ltd. Class A (a)	20,700	26,196
Tianneng Power International Ltd. (c)	72,000	68,214
Tianshui Huatian Technology Co. Ltd. Class A	48,000	59,162
Tibet Summit Resources Co. Ltd. Class A (a)	8,500	16,753
Times China Holdings Ltd. (a)(c)	35,000	1,944
Tingyi Cayman Islands Holding Corp.	226,383	316,225
Tong Ren Tang Technologies Co. Ltd. Class H	98,000	77,956
Tongcheng Travel Holdings Ltd. (a)	37,600	82,576
TongFu Microelectronics Co. Ltd. Class A	25,600	67,358
Tongwei Co. Ltd. Class A	25,400	112,467
Topchoice Medical Corp. Class A (a)	7,300	88,372
TravelSky Technology Ltd. Class H	73,000	126,578
Trip.com Group Ltd. (a)	29,129	1,038,429
Triumph New Energy Co. Ltd. Class H (a)	42,000	27,243
Tsingtao Brewery Co. Ltd. Class H	48,000	392,857
Tuya, Inc. ADR (a)	7,032	10,900
Unigroup Guoxin Microelectronics Co. Ltd. Class A (a)	10,099	120,871
Uni-President China Holdings Ltd.	139,000	97,614
Unisplendour Corp. Ltd. Class A (a)	17,820	57,649
Universal Scientific Industrial Shanghai Co. Ltd. Class A	19,600	39,250
Up Fintech Holding Ltd. ADR (a)	12,430	63,642
Valiant Co. Ltd. Class A	22,300	52,829
Venus MedTech Hangzhou, Inc. Class H (a)(b)	4,500	2,672
Vipshop Holdings Ltd. ADR (a)	30,067	481,373
Visionox Technology, Inc. Class A (a)	160,300	170,074
Visual China Group Co. Ltd. Class A	20,700	42,589
Viva Biotech Holdings (a)(b)	17,500	2,815
Vnet Group, Inc. ADR (a)(c)	7,472	23,387
Walvax Biotechnology Co. Ltd. Class A	6,200	20,032
Wangneng Environment Co. Ltd. Class A	78,700	169,158

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Wanhua Chemical Group Co. Ltd. Class A	13,500	$ 163,651
Want Want China Holdings Ltd.	485,287	316,632
Wasu Media Holding Co. Ltd. Class A	33,000	34,786
Weibo Corp. ADR	3,128	39,225
Weichai Power Co. Ltd. Class A	95,900	164,928
Weichai Power Co. Ltd. Class H	37,000	50,361
Weimob, Inc. (a)(b)(c)	155,000	67,091
West China Cement Ltd.	286,000	26,658
Will Semiconductor Co. Ltd. Shanghai Class A	6,255	79,894
Wingtech Technology Co. Ltd. Class A (a)	18,500	110,836
Winning Health Technology Group Co. Ltd. Class A	78,100	78,146
Wuhan Guide Infrared Co. Ltd. Class A	67,712	70,818
Wuliangye Yibin Co. Ltd. Class A	21,244	455,161
WUS Printed Circuit Kunshan Co. Ltd. Class A	21,750	67,199
Wushang Group Co. Ltd. Class A	1,000	1,268
WuXi AppTec Co. Ltd. Class A	23,940	283,176
Wuxi Biologics Cayman, Inc. (a)(b)	209,280	1,219,844
Wuxi Taiji Industry Co. Ltd. Class A (a)	149,600	133,671
XD, Inc. (a)	28,800	52,218
Xiamen Faratronic Co. Ltd. Class A	7,300	97,120
Xiamen Intretech, Inc. Class A	13,960	35,198
Xiamen ITG Group Corp. Ltd. Class A	40,900	44,236
Xiamen Kingdomway Group Co. Class A	19,500	48,417
Xianhe Co. Ltd. Class A	1,000	2,520
Xiaomi Corp. Class B (a)(b)	773,043	1,218,020
Xilinmen Furniture Co. Ltd. Class A	23,700	69,190
Xinhuanet Co. Ltd. Class A	14,500	60,840
Xinjiang Xintai Natural Gas Co. Ltd. Class A	18,792	75,238
Xinte Energy Co. Ltd. Class H (a)(c)	21,600	42,638
Xinyi Glass Holdings Ltd.	247,635	320,616
Xinyi Solar Holdings Ltd.	272,228	203,688
XPeng, Inc. Class A (a)(c)	63,320	565,541
Xtep International Holdings Ltd.	95,465	88,495
Yadea Group Holdings Ltd. (b)	70,000	129,957
Yangzijiang Shipbuilding Holdings Ltd.	236,100	287,146
Yankuang Energy Group Co. Ltd. Class H (c)	226,323	427,687

Security Description	Shares	Value
Yantai Changyu Pioneer Wine Co. Ltd. Class B	28,353	$ 35,406
Yantai Dongcheng Pharmaceutical Co. Ltd. Class A	35,900	81,943
Yantai Eddie Precision Machinery Co. Ltd. Class A	21,681	52,731
Yantai Jereh Oilfield Services Group Co. Ltd. Class A	8,900	38,956
Yantai Zhenghai Magnetic Material Co. Ltd. Class A	155,100	249,497
Yatsen Holding Ltd. ADR (a)	15,750	15,750
Yeahka Ltd. (a)(c)	8,000	15,118
YGSOFT, Inc. Class A	70,461	59,574
Yidu Tech, Inc. (a)(b)(c)	30,000	15,245
Yifan Pharmaceutical Co. Ltd. Class A (a)	22,700	42,716
Yifeng Pharmacy Chain Co. Ltd. Class A	17,837	85,858
Yihai International Holding Ltd.	20,000	34,475
Yixintang Pharmaceutical Group Co. Ltd. Class A	12,200	38,832
Yonyou Network Technology Co. Ltd. Class A	22,320	50,916
Youdao, Inc. ADR (a)(c)	7,032	28,269
YTO Express Group Co. Ltd. Class A	27,700	57,143
Yum China Holdings, Inc.	29,547	1,646,359
Yunda Holding Co. Ltd. Class A	22,430	30,355
Yunnan Energy New Material Co. Ltd. Class A	8,900	73,172
Yunnan Lincang Xinyuan Germanium Industrial Co. Ltd. Class A (a)	90,400	163,659
Zai Lab Ltd. (a)	46,720	112,984
ZBOM Home Collection Co. Ltd. Class A	30,480	96,681
Zhaojin Mining Industry Co. Ltd. Class H	57,500	80,173
Zhejiang Akcome New Energy Technology Co. Ltd. Class A (a)	242,800	78,981
Zhejiang Century Huatong Group Co. Ltd. Class A (a)	127,118	84,271
Zhejiang Crystal-Optech Co. Ltd. Class A	97,800	149,806
Zhejiang Dahua Technology Co. Ltd. Class A	53,700	164,142
Zhejiang Dingli Machinery Co. Ltd. Class A	10,620	76,891
Zhejiang Expressway Co. Ltd. Class H (c)	176,000	131,238
Zhejiang Hisoar Pharmaceutical Co. Ltd. Class A	41,500	48,986
Zhejiang Huayou Cobalt Co. Ltd. Class A	3,870	19,924
Zhejiang Jiecang Linear Motion Technology Co. Ltd. Class A	16,236	39,511

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Zhejiang Jiemei Electronic & Technology Co. Ltd. Class A	13,680	$ 49,194
Zhejiang Jingu Co. Ltd. Class A (a)	114,800	116,443
Zhejiang Jingxin Pharmaceutical Co. Ltd. Class A	29,560	50,553
Zhejiang Jinke Tom Culture Industry Co. Ltd. Class A (a)	83,800	60,155
Zhejiang JIULI Hi-tech Metals Co. Ltd. Class A	34,600	91,656
Zhejiang Medicine Co. Ltd. Class A	22,700	34,802
Zhejiang Meida Industrial Co. Ltd. Class A	35,400	51,843
Zhejiang Narada Power Source Co. Ltd. Class A (a)	25,300	49,761
Zhejiang NHU Co. Ltd. Class A	18,724	41,736
Zhejiang Semir Garment Co. Ltd. Class A	27,500	23,213
Zhejiang Shibao Co. Ltd. Class A (a)	55,100	128,112
Zhejiang Starry Pharmaceutical Co. Ltd. Class A	700	1,485
Zhejiang Supor Co. Ltd. Class A	8,190	54,497
Zhejiang Wansheng Co. Ltd. Class A	150,200	218,319
Zhejiang Xianju Pharmaceutical Co. Ltd. Class A	36,900	59,054
Zhejiang Yasha Decoration Co. Ltd. Class A	68,900	51,067
Zhejiang Yongtai Technology Co. Ltd. Class A	32,007	56,232
Zhengzhou Coal Mining Machinery Group Co. Ltd. Class H	35,600	34,728
Zhihu, Inc. ADR (a)(c)	7,735	8,044
ZhongAn Online P&C Insurance Co. Ltd. Class H (a)(b)	16,800	49,552
Zhongsheng Group Holdings Ltd.	42,000	118,248
Zhongtian Financial Group Co. Ltd. Class A (a)	92,600	5,084
Zhuzhou CRRC Times Electric Co. Ltd. Class H	57,800	200,001
Zijin Mining Group Co. Ltd. Class H	662,506	1,013,403
Zoomlion Heavy Industry Science & Technology Co. Ltd. Class A	83,600	78,600
ZTE Corp. Class A	9,500	42,612
ZTE Corp. Class H	73,440	221,768
ZTO Express Cayman, Inc. ADR	32,986	797,272
		138,342,092
HONG KONG — 0.4%
Alibaba Pictures Group Ltd. (a)	870,107	68,881

Security Description	Shares	Value
C Fiber Optic (a)(d)	686,800	$ —
China Animal Healthcare Ltd. (a)(d)	305,700	—
China Common Rich Renewable Energy Investments Ltd. (a)(c)(d)	5,962,000	—
China First Capital Group Ltd. (a)	66,800	444
China High Speed Transmission Equipment Group Co. Ltd. (a)	8,000	2,298
China Huishan Dairy Holdings Co. Ltd. (a)(d)	549,000	—
China Huiyuan Juice Group Ltd. (a)(d)	157,000	—
Chong Sing Holdings FinTech Group Ltd. (a)(d)	2,260,000	—
Citychamp Watch & Jewellery Group Ltd. (a)	316,000	47,611
Comba Telecom Systems Holdings Ltd.	233,847	30,456
CTEG (a)(c)(d)	438,000	—
Digital China Holdings Ltd.	101,000	32,111
Ding Yi Feng Holdings Group International Ltd. (a)	24,000	4,566
Fullshare Holdings Ltd. (a)	31,100	99
Guotai Junan International Holdings Ltd.	18,000	1,402
Hi Sun Technology China Ltd. (a)	162,000	11,997
Huabao International Holdings Ltd. (c)	41,000	14,030
National Agricultural Holdings Ltd. (a)(d)	57,816	—
Nine Dragons Paper Holdings Ltd. (a)	126,000	70,788
Sino Biopharmaceutical Ltd.	791,000	285,824
Skyworth Group Ltd.	69,600	26,127
Solargiga Energy Holdings Ltd.	603,000	13,782
SSY Group Ltd.	240,691	139,525
Tech-Pro, Inc. (a)(c)(d)	1,684,800	—
United Energy Group Ltd.	204,000	29,955
United Laboratories International Holdings Ltd.	74,000	74,927
Vinda International Holdings Ltd.	31,000	74,493
Wasion Holdings Ltd.	8,000	2,972
WH Group Ltd. (b)	508,259	266,724
		1,199,012
INDIA — 26.6%
Aarti Drugs Ltd.	2,750	17,967
Aavas Financiers Ltd. (a)	6,223	130,341
ABB India Ltd.	6,588	325,131
Adani Energy Solutions Ltd. (a)	15,968	155,803
Adani Enterprises Ltd.	21,312	619,512
Adani Green Energy Ltd. (a)	25,155	299,029

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Adani Ports & Special Economic Zone Ltd.	76,823	$ 763,362
Adani Power Ltd. (a)	63,900	290,447
Adani Total Gas Ltd.	16,945	125,137
Affle India Ltd. (a)	9,027	120,326
AIA Engineering Ltd.	7,056	298,473
Ajanta Pharma Ltd.	4,230	91,684
Alembic Pharmaceuticals Ltd.	8,890	83,979
Alok Industries Ltd. (a)	301,869	68,886
Amber Enterprises India Ltd. (a)	3,739	134,033
APL Apollo Tubes Ltd.	14,160	277,091
Apollo Hospitals Enterprise Ltd.	5,789	358,165
Apollo Tyres Ltd.	42,898	190,440
Ashok Leyland Ltd.	42,810	91,248
Asian Paints Ltd.	21,904	833,798
Astral Ltd.	9,430	217,174
AstraZeneca Pharma India Ltd.	6,718	364,311
AU Small Finance Bank Ltd. (b)	13,135	112,857
Aurobindo Pharma Ltd.	29,412	323,849
Avenue Supermarts Ltd. (a)(b)	4,521	200,110
Axis Bank Ltd.	137,798	1,720,292
Bajaj Auto Ltd.	5,185	316,172
Bajaj Electricals Ltd.	20,246	268,772
Bajaj Finance Ltd.	14,749	1,387,271
Bajaj Finserv Ltd.	24,900	461,845
Bajaj Hindusthan Sugar Ltd. (a)	367,888	116,292
Bajel Projects Ltd. (a)	20,246	31,926
Balkrishna Industries Ltd.	7,215	222,233
Bandhan Bank Ltd. (b)	43,283	131,140
Bank of Baroda	41,809	107,718
BEML Land Assets Ltd. (a)	6,425	12,755
BEML Ltd.	5,986	167,107
Bharat Bijlee Ltd.	6,645	288,534
Bharat Electronics Ltd.	264,456	440,435
Bharat Forge Ltd.	22,849	300,356
Bharat Heavy Electricals Ltd.	200,804	316,774
Bharat Petroleum Corp. Ltd.	48,163	201,024
Bharti Airtel Ltd.	173,959	1,940,669
Biocon Ltd.	110,293	361,528
Birlasoft Ltd.	44,428	258,598
Bosch Ltd.	639	146,356
Brightcom Group Ltd.	260,184	59,217
Britannia Industries Ltd.	3,947	215,653
Can Fin Homes Ltd.	51,119	470,800
Carysil Ltd.	9,272	69,237
Cholamandalam Financial Holdings Ltd.	28,901	403,874
Cholamandalam Investment & Finance Co. Ltd.	52,479	769,447
Cipla Ltd.	72,728	1,038,837
City Union Bank Ltd.	249	380
Coal India Ltd.	113,947	405,066
Crompton Greaves Consumer Electricals Ltd.	50,199	187,306
Dabur India Ltd.	28,552	189,656

Security Description	Shares	Value
DCB Bank Ltd.	61,598	$ 92,462
Deepak Nitrite Ltd.	7,181	183,366
Delhivery Ltd. (a)	32,908	163,547
Dhani Services Ltd. (a)	21,503	10,889
Dish TV India Ltd. (a)	125,473	27,651
Dishman Carbogen Amcis Ltd. (a)	3,772	7,384
Divi's Laboratories Ltd.	7,529	341,370
Dixon Technologies India Ltd.	7,723	491,911
DLF Ltd.	55,033	351,837
Dr Lal PathLabs Ltd. (b)	6,568	199,659
Dr Reddy's Laboratories Ltd.	8,867	596,570
Edelweiss Financial Services Ltd.	33,723	24,874
Eicher Motors Ltd.	8,328	345,686
Elecon Engineering Co. Ltd.	19,782	184,227
Emami Ltd.	10,986	71,235
Epigral Ltd.	1,782	21,320
Escorts Kubota Ltd.	5,142	197,225
Federal Bank Ltd.	135,341	239,907
Fine Organic Industries Ltd.	23	1,328
Finolex Cables Ltd.	21,352	288,237
Fortis Healthcare Ltd.	39,360	161,130
FSN E-Commerce Ventures Ltd. (a)	95,532	176,244
GAIL India Ltd.	207,842	311,358
Gillette India Ltd.	880	64,925
Glenmark Pharmaceuticals Ltd.	15,867	163,464
GMR Airports Infrastructure Ltd. (a)	521,747	374,152
Godrej Consumer Products Ltd. (a)	40,137	479,278
Godrej Industries Ltd. (a)	15,405	105,676
Godrej Properties Ltd. (a)	9,310	174,235
Granules India Ltd.	50,356	215,119
Graphite India Ltd.	31,017	183,787
Grasim Industries Ltd.	12,090	282,795
Gujarat Pipavav Port Ltd.	41,197	61,641
Havells India Ltd.	28,723	480,422
HCL Technologies Ltd.	80,202	1,192,581
HDFC Bank Ltd.	321,347	5,906,365
HDFC Life Insurance Co. Ltd. (b)	46,874	359,791
HEG Ltd.	9,224	191,420
Hero MotoCorp Ltd.	10,109	372,173
HFCL Ltd.	88,021	81,776
Hikal Ltd.	8,724	31,034
Hindalco Industries Ltd.	93,295	553,481
Hindustan Construction Co. Ltd. (a)	520,583	173,024
Hindustan Copper Ltd.	22,270	43,552
Hindustan Petroleum Corp. Ltd. (a)	45,014	138,200
Hindustan Unilever Ltd.	70,337	2,088,395
Hindustan Zinc Ltd.	126,381	469,736
ICICI Bank Ltd.	603	6,912
ICICI Bank Ltd. ADR	168,406	3,893,547

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
ICICI Lombard General Insurance Co. Ltd. (b)	2,074	$ 32,707
ICICI Prudential Life Insurance Co. Ltd. (b)	9,996	68,156
IDFC First Bank Ltd. (a)	263,589	303,135
IDFC Ltd.	136,278	211,454
IIFL Finance Ltd.	90,173	648,869
India Cements Ltd. (a)	30,739	86,323
Indiabulls Housing Finance Ltd.	36,854	82,326
Indiabulls Real Estate Ltd. (a)	29,432	29,506
IndiaMart InterMesh Ltd. (b)	732	25,354
Indian Hotels Co. Ltd.	50,652	250,755
Indian Oil Corp. Ltd.	272,929	298,922
Indus Towers Ltd. (a)	61,162	141,192
Infibeam Avenues Ltd.	765,236	163,569
Info Edge India Ltd.	5,214	261,531
Infosys Ltd. ADR (c)	205,293	3,512,563
InterGlobe Aviation Ltd. (a)(b)	6,178	177,154
IOL Chemicals & Pharmaceuticals Ltd.	1,895	10,877
Ipca Laboratories Ltd.	23,768	267,801
ITC Ltd. GDR	191,979	1,027,088
Jaiprakash Power Ventures Ltd. (a)	1,261,975	155,769
Jindal Stainless Ltd.	42,392	242,918
Jindal Steel & Power Ltd.	50,157	423,616
Jio Financial Services Ltd. (a)	184,743	514,354
Johnson Controls-Hitachi Air Conditioning India Ltd. (a)	9,079	133,636
JSW Energy Ltd.	47,982	252,734
JSW Steel Ltd.	54,222	509,042
Jubilant Foodworks Ltd.	39,978	256,647
Jubilant Ingrevia Ltd.	26,246	151,408
Jubilant Pharmova Ltd.	9,139	47,890
Just Dial Ltd. (a)	17,981	157,938
Jyoti Resins & Adhesives Ltd.	13,772	269,897
Karnataka Bank Ltd.	52,781	158,233
Kaveri Seed Co. Ltd. (a)	10,264	74,408
Kotak Mahindra Bank Ltd.	70,236	1,468,049
KPIT Technologies Ltd.	16,402	227,598
Larsen & Toubro Ltd. GDR	41,423	1,503,655
Laurus Labs Ltd. (b)	78,037	371,572
Lemon Tree Hotels Ltd. (a)(b)	267,564	366,509
LIC Housing Finance Ltd.	33,272	186,050
LTIMindtree Ltd. (b)	7,429	466,081
Lupin Ltd.	21,124	297,942
Macrotech Developers Ltd. (b)	18,148	174,823
Mahindra & Mahindra Financial Services Ltd.	66,906	242,796
Mahindra & Mahindra Ltd.	55,073	1,030,779
MakeMyTrip Ltd. (a)(c)	9,510	385,345
Manappuram Finance Ltd.	54,945	99,150
Marico Ltd.	44,823	303,161
Marksans Pharma Ltd.	212,751	281,947
Maruti Suzuki India Ltd.	6,998	894,170
Max Financial Services Ltd. (a)	13,005	142,475

Security Description	Shares	Value
Motherson Sumi Wiring India Ltd.	123,723	$ 96,024
Muthoot Finance Ltd.	8,897	134,139
Natco Pharma Ltd.	8,486	89,217
Navin Fluorine International Ltd.	4,924	223,350
NCC Ltd.	74,810	139,681
Nestle India Ltd.	1,846	500,327
NOCIL Ltd.	57,349	157,355
NTPC Ltd.	255,500	755,504
Nuvama Wealth Management Ltd. (a)	376	10,913
Oberoi Realty Ltd.	8,266	114,905
Oil & Natural Gas Corp. Ltd.	291,829	674,212
Olectra Greentech Ltd.	13,387	193,588
One 97 Communications Ltd. (a)	10,362	107,025
Page Industries Ltd.	665	312,144
Persistent Systems Ltd.	4,412	307,980
PI Industries Ltd.	7,601	316,063
Piramal Enterprises Ltd.	4,332	54,741
Piramal Pharma Ltd. (a)	20,258	24,895
PNB Housing Finance Ltd. (a)(b)	55,327	462,451
Power Finance Corp. Ltd. (e)	69,621	211,191
Power Finance Corp. Ltd. (a)(e)	17,405	52,798
Power Grid Corp. of India Ltd.	123,805	297,805
Rajesh Exports Ltd. (a)	22,618	136,757
RattanIndia Enterprises Ltd. (a)	196,672	134,760
RattanIndia Power Ltd. (a)	1,364,875	113,409
Raymond Ltd.	7,809	170,043
RBL Bank Ltd. (b)	46,941	142,873
REC Ltd.	83,147	287,766
Reliance Industries Ltd. GDR (b)	94,698	5,293,618
Reliance Infrastructure Ltd. (a)	65,183	136,031
Reliance Power Ltd. (a)	454,707	105,407
Religare Enterprises Ltd. (a)	36,329	105,739
Route Mobile Ltd.	5,088	97,454
Samvardhana Motherson International Ltd.	120,918	139,787
SBI Life Insurance Co. Ltd. (b)	15,895	249,868
Sequent Scientific Ltd. (a)	91,866	102,496
Shilpa Medicare Ltd. (a)	11,522	49,756
Shree Renuka Sugars Ltd. (a)	204,933	134,744
Shriram Finance Ltd.	16,412	379,334
Siemens Ltd.	5,121	226,476
Solara Active Pharma Sciences Ltd. (a)	1,120	4,817
Sona Blw Precision Forgings Ltd. (b)	36,346	255,346
South Indian Bank Ltd.	439,576	143,718
SpiceJet Ltd. (a)	57,157	24,779
State Bank of India	140,561	1,013,145
Steel Authority of India Ltd.	180,820	204,356
Strides Pharma Science Ltd.	12,615	77,187

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Subex Ltd. (a)	105,925	$ 41,520
Sun Pharma Advanced Research Co. Ltd. (a)	23,238	65,230
Sun Pharmaceutical Industries Ltd.	95,521	1,332,776
Suzlon Energy Ltd. (a)	865,882	269,020
Tarsons Products Ltd. (a)	28,688	181,716
Tata Communications Ltd.	7,044	163,946
Tata Consultancy Services Ltd.	72,419	3,077,238
Tata Consumer Products Ltd.	24,414	257,807
Tata Elxsi Ltd.	1,244	108,266
Tata Motors Ltd.	130,940	993,704
Tata Steel Ltd.	300,074	465,787
Tata Teleservices Maharashtra Ltd. (a)	170,106	203,719
TCI Express Ltd.	969	16,908
Tech Mahindra Ltd.	40,142	591,099
Thyrocare Technologies Ltd. (b)	30,538	208,989
Titan Co. Ltd.	14,052	532,831
Torrent Pharmaceuticals Ltd.	12,723	295,563
Trent Ltd.	5,065	126,876
TVS Motor Co. Ltd.	31,148	570,813
Ujjivan Financial Services Ltd.	15,117	101,762
UltraTech Cement Ltd.	5,389	535,702
United Breweries Ltd.	6,149	115,292
United Spirits Ltd. (a)	39,291	476,581
UPL Ltd.	35,024	259,913
Vakrangee Ltd.	149,331	31,380
Vedanta Ltd.	49,252	131,995
VL E-Governance & IT Solutions Ltd. (a)	14,933	6,015
V-Mart Retail Ltd. (a)	2,617	62,156
Vodafone Idea Ltd. (a)	651,002	91,330
Wipro Ltd. ADR (c)	195,947	948,383
WNS Holdings Ltd. ADR (a)	7,600	520,296
Wockhardt Ltd. (a)	23,760	67,310
Yes Bank Ltd. (a)	162,974	33,854
Zee Entertainment Enterprises Ltd. (a)	63,577	202,541
Zomato Ltd. (a)	341,677	417,626
Zydus Lifesciences Ltd.	21,606	160,013
		90,099,126
INDONESIA — 2.9%
Ace Hardware Indonesia Tbk PT	1,790,200	86,875
Adaro Energy Indonesia Tbk PT	1,510,700	278,583
Adaro Minerals Indonesia Tbk PT (a)	599,700	50,638
AKR Corporindo Tbk PT	487,500	48,734
Astra International Tbk PT	1,902,551	766,314
Bank Central Asia Tbk PT	3,190,675	1,821,916
Bank Jago Tbk PT (a)	119,800	15,658
Bank Mandiri Persero Tbk PT	3,796,180	1,479,908

Security Description	Shares	Value
Bank Negara Indonesia Persero Tbk PT	417,900	$ 279,186
Bank Rakyat Indonesia Persero Tbk PT	5,775,731	1,952,649
Barito Pacific Tbk PT	1,491,403	125,450
Berkah Beton Sadaya Tbk PT (a)	1,278,500	4,136
Chandra Asri Petrochemical Tbk PT	464,712	76,074
Charoen Pokphand Indonesia Tbk PT (a)	435,100	152,728
Ciputra Development Tbk PT	690,596	45,578
Elang Mahkota Teknologi Tbk PT	775,800	29,365
GoTo Gojek Tokopedia Tbk PT (a)	51,462,200	283,034
Gudang Garam Tbk PT	1,900	3,024
Indah Kiat Pulp & Paper Tbk PT	164,900	118,433
Indocement Tunggal Prakarsa Tbk PT	212,925	137,082
Kalbe Farma Tbk PT	748,100	84,951
Lippo Karawaci Tbk PT (a)	3,025,410	18,401
Matahari Department Store Tbk PT	15,400	2,391
Media Nusantara Citra Tbk PT	312,700	9,833
Pabrik Kertas Tjiwi Kimia Tbk PT	59,800	37,049
Pakuwon Jati Tbk PT	1,714,400	48,587
Perusahaan Gas Negara Tbk PT	1,198,440	106,623
PP Persero Tbk PT (a)	585,176	28,587
Semen Indonesia Persero Tbk PT	464,261	193,004
Summarecon Agung Tbk PT	735,427	27,361
Telkom Indonesia Persero Tbk PT	4,298,994	1,043,108
Tower Bersama Infrastructure Tbk PT	724,500	94,694
Transcoal Pacific Tbk PT	67,900	36,136
Unilever Indonesia Tbk PT	249,900	60,474
United Tractors Tbk PT	142,045	259,642
Wijaya Karya Persero Tbk PT (a)	553,357	16,398
		9,822,604
MALAYSIA — 2.9%
AEON Credit Service M Bhd	48,350	125,425
Agmo Holdings Bhd (a)	1,272	157
Alliance Bank Malaysia Bhd	505,810	364,121
AMMB Holdings Bhd	84,800	66,825
Astro Malaysia Holdings Bhd	156,800	15,362
Axiata Group Bhd	355,483	188,521
Bermaz Auto Bhd	196,480	104,198
British American Tobacco Malaysia Bhd	4,300	8,499
Bursa Malaysia Bhd	254,651	365,550
Cahya Mata Sarawak Bhd	203,400	49,385

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Carlsberg Brewery Malaysia Bhd Class B	45,903	$ 195,530
CELCOMDIGI Bhd	151,600	141,098
CIMB Group Holdings Bhd	412,364	476,894
Datasonic Group Bhd	395,600	39,179
Dayang Enterprise Holdings Bhd	130,250	53,540
Dialog Group Bhd	443,000	200,023
Eco World Development Group Bhd	168,700	38,804
Frontken Corp. Bhd	138,400	92,851
Gamuda Bhd	158,725	149,758
Genting Bhd	346,900	308,093
Genting Malaysia Bhd	384,400	204,675
Globetronics Technology Bhd	104,900	34,853
Hartalega Holdings Bhd (a)	80,100	33,949
Hibiscus Petroleum Bhd	196,600	47,315
Hong Leong Bank Bhd	39,000	161,972
IHH Healthcare Bhd	99,000	123,348
IJM Corp. Bhd	739,280	292,862
Inari Amertron Bhd	445,312	275,045
IOI Corp. Bhd	491,196	416,370
IOI Properties Group Bhd	429,216	151,749
KNM Group Bhd (a)	755,600	20,116
Kuala Lumpur Kepong Bhd	38,996	177,736
Malayan Banking Bhd	334,229	625,712
Malaysia Airports Holdings Bhd	100,482	152,588
Maxis Bhd	260,200	223,888
MISC Bhd	62,100	93,641
My EG Services Bhd	651,822	110,367
Padini Holdings Bhd	154,300	129,809
Pentamaster Corp. Bhd	256,575	283,064
Petronas Chemicals Group Bhd	102,500	156,962
PPB Group Bhd	89,320	294,483
Press Metal Aluminium Holdings Bhd	564,370	566,143
Public Bank Bhd	968,473	837,442
RHB Bank Bhd	212,501	245,755
Sime Darby Bhd	270,388	127,268
Sime Darby Plantation Bhd	258,499	235,637
Sime Darby Property Bhd	319,288	47,262
Supermax Corp. Bhd	148,134	26,186
Telekom Malaysia Bhd	104,644	109,207
Tenaga Nasional Bhd	182,150	387,557
Top Glove Corp. Bhd (a)	344,800	56,913
Velesto Energy Bhd (a)	719,700	39,087
Yinson Holdings Bhd	292,120	154,296
YTL Corp. Bhd	333,610	108,000
		9,935,070
PAKISTAN — 0.0% (f)
Millat Tractors Ltd.	21,027	30,446
PHILIPPINES — 1.0%
Aboitiz Equity Ventures, Inc.	88,460	78,413
Alliance Global Group, Inc.	588,200	128,087
Ayala Land, Inc.	916,251	476,944

Security Description	Shares	Value
Bank of the Philippine Islands	78,847	$ 156,088
BDO Unibank, Inc.	176,934	443,774
Bloomberry Resorts Corp. (a)	346,900	61,929
Cebu Air, Inc. (a)	48,430	29,105
D&L Industries, Inc.	1,193,500	135,433
Globe Telecom, Inc.	1,929	61,134
GT Capital Holdings, Inc.	6,094	61,397
JG Summit Holdings, Inc.	266,672	179,585
Jollibee Foods Corp.	33,430	135,549
LT Group, Inc.	417,600	66,431
Metropolitan Bank & Trust Co.	70,690	67,471
PLDT, Inc.	13,704	284,854
Puregold Price Club, Inc.	250,350	127,883
SM Investments Corp.	24,745	368,927
SM Prime Holdings, Inc.	775,900	415,543
Universal Robina Corp.	70,880	148,961
		3,427,508
TAIWAN — 22.1%
Accton Technology Corp.	31,000	473,444
Acer, Inc.	506,395	569,450
Advantech Co. Ltd.	41,085	439,099
Alchip Technologies Ltd.	5,000	416,660
ASE Technology Holding Co. Ltd.	323,043	1,095,807
Asia Cement Corp.	380,687	468,776
Asia Vital Components Co. Ltd.	28,000	295,782
ASPEED Technology, Inc.	2,000	171,311
Asustek Computer, Inc.	94,737	1,077,074
AUO Corp. ADR	89,359	464,667
Bank of Kaohsiung Co. Ltd. (a)	244,873	91,029
Catcher Technology Co. Ltd.	76,539	432,718
Cathay Financial Holding Co. Ltd.	913,838	1,261,179
Center Laboratories, Inc.	64,582	91,730
Chailease Holding Co. Ltd.	94,179	528,071
Chang Hwa Commercial Bank Ltd.	495,689	264,885
Cheng Shin Rubber Industry Co. Ltd.	99,000	130,342
China Development Financial Holding Corp. (a)	1,883,559	688,527
China Steel Chemical Corp.	18,877	66,080
China Steel Corp.	1,136,216	888,755
Chroma ATE, Inc.	17,000	145,351
Chunghwa Telecom Co. Ltd.	210,074	754,901
Compal Electronics, Inc.	704,029	669,559
Compeq Manufacturing Co. Ltd.	39,000	64,032
CTBC Financial Holding Co. Ltd.	1,733,570	1,315,731
Delta Electronics, Inc.	110,986	1,115,688
E.Sun Financial Holding Co. Ltd.	856,813	643,662
Eclat Textile Co. Ltd.	30,365	458,102
eCloudvalley Digital Technology Co. Ltd.	14,311	53,865

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
EirGenix, Inc. (a)	19,000	$ 57,388
Elite Material Co. Ltd.	17,000	225,399
Elite Semiconductor Microelectronics Technology, Inc.	18,000	43,215
eMemory Technology, Inc.	3,318	207,115
Ennostar, Inc. (a)	85,585	116,392
Evergreen Marine Corp. Taiwan Ltd.	62,465	224,468
Everlight Electronics Co. Ltd.	117,996	171,435
Far Eastern New Century Corp.	627,352	558,739
Far EasTone Telecommunications Co. Ltd.	88,000	198,188
Faraday Technology Corp.	18,000	170,629
Feng TAY Enterprise Co. Ltd.	49,329	279,649
Firich Enterprises Co. Ltd.	33,767	32,584
First Financial Holding Co. Ltd.	620,292	510,176
FocalTech Systems Co. Ltd.	20,000	46,839
Formosa Chemicals & Fibre Corp.	426,182	811,951
Formosa Petrochemical Corp.	149,000	372,033
Formosa Plastics Corp.	424,663	1,049,801
Foxconn Technology Co. Ltd.	169,519	303,008
Fubon Financial Holding Co. Ltd.	679,801	1,278,292
Genius Electronic Optical Co. Ltd.	6,475	73,815
Giant Manufacturing Co. Ltd.	36,305	200,754
Globalwafers Co. Ltd.	15,884	223,150
Himax Technologies, Inc. ADR	15,036	87,810
Hiwin Technologies Corp.	31,745	200,124
Holy Stone Enterprise Co. Ltd.	14,700	44,582
Hon Hai Precision Industry Co. Ltd.	875,765	2,821,504
Hotai Motor Co. Ltd.	32,640	662,295
HTC Corp. (a)	86,710	129,203
Hua Nan Financial Holdings Co. Ltd. Class C	737,909	468,615
Innolux Corp. (a)	618,054	251,775
Inventec Corp.	276,000	418,953
ITEQ Corp.	17,267	48,783
King Yuan Electronics Co. Ltd.	258,898	609,540
Largan Precision Co. Ltd.	6,142	406,226
Lite-On Technology Corp.	128,394	483,260
Macronix International Co. Ltd.	195,673	191,851
Makalot Industrial Co. Ltd.	35,069	365,025
MediaTek, Inc.	117,601	2,677,676
Medigen Biotechnology Corp. (a)	14,000	14,681
Medigen Vaccine Biologics Corp. (a)	25,467	57,434
Mega Financial Holding Co. Ltd.	738,976	863,041
Merry Electronics Co. Ltd.	34,809	90,903
Microbio Co. Ltd.	3,956	5,919

Security Description	Shares	Value
Micro-Star International Co. Ltd.	34,000	$ 172,736
Motech Industries, Inc.	82,627	69,495
Nan Ya Plastics Corp.	591,704	1,220,783
Nanya Technology Corp.	51,000	103,642
Nien Made Enterprise Co. Ltd.	11,000	105,637
Novatek Microelectronics Corp.	55,599	728,563
Nuvoton Technology Corp.	20,000	77,446
O-Bank Co. Ltd.	649,281	191,282
Oneness Biotech Co. Ltd.	18,204	98,406
PChome Online, Inc. (a)	20,893	26,795
Pegatron Corp.	248,900	590,627
PharmaEssentia Corp. (a)	11,483	119,524
Phoenix Silicon International Corp.	18,479	30,054
Pou Chen Corp.	175,000	155,318
Powertech Technology, Inc.	167,518	526,729
President Chain Store Corp.	38,000	309,010
Promos Technologies, Inc. (a)(d)	2,232	—
Quanta Computer, Inc.	159,729	1,185,084
Radiant Opto-Electronics Corp.	35,000	133,362
RDC Semiconductor Co. Ltd.	10,300	33,663
Realtek Semiconductor Corp.	53,825	658,629
RichWave Technology Corp. (a)	14,201	63,569
Ritek Corp. (a)	61,593	15,570
Senhwa Biosciences, Inc. (a)	1,000	1,332
Shanghai Commercial & Savings Bank Ltd.	300,332	402,390
Shin Kong Financial Holding Co. Ltd. (a)	1,833,143	526,424
Silicon Motion Technology Corp. ADR (a)	2,859	146,524
Simplo Technology Co. Ltd.	16,000	166,045
Sino-American Silicon Products, Inc.	26,000	126,454
SinoPac Financial Holdings Co. Ltd.	1,604,998	865,134
Sitronix Technology Corp.	10,000	86,275
Synnex Technology International Corp.	165,000	327,644
TA-I Technology Co. Ltd.	15,750	22,712
Taishin Financial Holding Co. Ltd.	932,873	517,291
Taiwan Cement Corp.	741,631	763,905
Taiwan Cooperative Financial Holding Co. Ltd.	241,882	191,824
Taiwan FU Hsing Industrial Co. Ltd.	157,000	207,920
Taiwan High Speed Rail Corp.	97,000	89,997
Taiwan Mobile Co. Ltd.	143,260	419,832
Taiwan Paiho Ltd.	20,000	33,581
Taiwan Semiconductor Manufacturing Co. Ltd.	252,000	4,082,836
Taiwan Semiconductor Manufacturing Co. Ltd. ADR	209,018	18,163,664

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Taiwan Surface Mounting Technology Corp.	20,000	$ 57,000
Taiwan Union Technology Corp.	13,000	54,770
Teco Electric & Machinery Co. Ltd.	122,000	196,527
TPK Holding Co. Ltd.	23,000	23,976
Tripod Technology Corp.	118,361	705,828
Unimicron Technology Corp.	79,540	427,509
Uni-President Enterprises Corp.	369,893	803,256
United Integrated Services Co. Ltd.	57,755	407,034
United Microelectronics Corp. ADR (c)	203,465	1,436,463
Vanguard International Semiconductor Corp.	19,000	40,024
Voltronic Power Technology Corp.	6,804	334,082
Walsin Lihwa Corp.	430,453	490,719
Walsin Technology Corp.	25,000	79,382
Win Semiconductors Corp.	25,000	99,906
Winbond Electronics Corp.	91,000	71,322
Wistron Corp.	166,976	525,025
Wiwynn Corp.	9,248	428,301
Yageo Corp.	21,596	351,231
Yang Ming Marine Transport Corp.	95,000	133,757
Yuanta Financial Holding Co. Ltd.	1,364,891	1,059,169
Zhen Ding Technology Holding Ltd.	45,000	137,173
		74,810,659
THAILAND — 3.1%
Advanced Info Service PCL	136,961	857,593
Airports of Thailand PCL (a)	297,700	570,260
Bangkok Bank PCL NVDR	23,800	109,482
Bangkok Dusit Medical Services PCL Class F	83,700	61,489
Bangkok Expressway & Metro PCL	1,574,607	358,922
BEC World PCL	23,600	4,407
Bumrungrad Hospital PCL	30,400	223,747
Carabao Group PCL Class F	14,100	31,753
Central Plaza Hotel PCL (a)	41,300	53,309
Charoen Pokphand Foods PCL	200,600	114,038
Chularat Hospital PCL Class F	1,665,100	149,076
CP ALL PCL	576,154	957,290
CPN Retail Growth Leasehold REIT	31,300	9,026
Delta Electronics Thailand PCL	252,900	574,733
Electricity Generating PCL	18,699	62,137
Energy Absolute PCL	196,400	275,081
Frasers Property Thailand Industrial Freehold & Leasehold REIT	61,987	17,534

Security Description	Shares	Value
Global Power Synergy PCL Class F	25,100	$ 30,847
Gulf Energy Development PCL	227,400	284,152
Gunkul Engineering PCL	1,357,443	116,312
Hana Microelectronics PCL	88,700	144,941
Ichitan Group PCL	113,400	52,320
Indorama Ventures PCL	143,300	102,322
IRPC PCL	1,982,291	112,146
Jasmine International PCL (a)	529,725	30,260
Kasikornbank PCL	49,654	171,820
Kasikornbank PCL NVDR	76,400	264,371
KCE Electronics PCL	221,170	335,589
Krungthai Card PCL	75,800	91,595
MC Group PCL	257,200	95,357
Mega Lifesciences PCL	196,300	239,900
Minor International PCL	297,446	255,275
Muangthai Capital PCL	19,800	19,576
PTG Energy PCL	152,600	39,185
PTT Exploration & Production PCL	132,507	622,278
PTT Global Chemical PCL NVDR	66,700	63,197
PTT PCL	634,683	583,917
SCB X PCL	208,028	585,592
Siam Cement PCL NVDR	42,700	352,975
Srisawad Corp. PCL	210,331	246,939
Super Energy Corp. PCL NVDR (a)	861,100	11,115
SVI PCL	679,240	149,232
Thai Beverage PCL	845,400	356,147
Thai Oil PCL	267,249	370,644
Thai Union Group PCL Class F	185,900	74,028
TMBThanachart Bank PCL	2,835,236	133,927
True Corp. PCL NVDR	710,956	138,628
WHA Premium Growth Freehold & Leasehold Real Estate InvestmentTrust Class F, REIT	57,400	15,921
		10,520,385
UNITED STATES — 0.2%
JS Global Lifestyle Co. Ltd. (b)(c)	64,000	10,623
Legend Biotech Corp. ADR (a)	5,446	365,808
SharkNinja, Inc. (a)	2,680	124,245
		500,676
TOTAL COMMON STOCKS (Cost $341,275,902)		338,687,578


RIGHTS — 0.0% (f)
THAILAND — 0.0% (f)
WHA Premium Growth Freehold & Leasehold Real Estate InvestmentTrust (expiring date 10/31/23) (a)(d)	3,757	—

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
WARRANTS — 0.0% (f)
MALAYSIA — 0.0% (f)
Eco World Development Group Bhd (expiring 04/12/29) (a)	38,320	$ 1,999
SHORT-TERM INVESTMENTS — 2.0%
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (g)(h)	126,224	126,249
State Street Navigator Securities Lending Portfolio II (i)(j)	6,677,860	6,677,860
TOTAL SHORT-TERM INVESTMENTS (Cost $6,804,109)		6,804,109
TOTAL INVESTMENTS — 102.1% (Cost $348,080,011)		345,493,686
LIABILITIES IN EXCESS OF OTHER ASSETS — (2.1)%		(7,162,530)
NET ASSETS — 100.0%		$ 338,331,156

(a)	Non-income producing security.
(b)	Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 5.9% of net assets as of September 30, 2023, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(c)	All or a portion of the shares of the security are on loan at September 30, 2023.

(d)	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 September 30, 2023, total aggregate fair value of the securities is $19,340, representing 0.00% of the Fund's net assets.
(e)	Reflects separate holdings of the issuer's common stock traded on different securities exchanges.
(f)	Amount is less than 0.05% of net assets.
(g)	The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(h)	The rate shown is the annualized seven-day yield at September 30, 2023.
(i)	The Fund invested in an affiliated entity. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(j)	Investment of cash collateral for securities loaned.

ADR	American Depositary Receipt
GDR	Global Depositary Receipt
NVDR	Non-Voting Depositary Receipt
REIT	Real Estate Investment Trust

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of September 30, 2023.

Description	Level 1 – Quoted Prices	Level 2 – Other Significant Observable Inputs	Level 3 – Significant Unobservable Inputs	Total
ASSETS:
INVESTMENTS:
Common Stocks	$329,406,758	$9,261,480	$19,340	$338,687,578
Rights	—	—	0(a)	0
Warrants	1,999	—	—	1,999
Short-Term Investments	6,804,109	—	—	6,804,109
TOTAL INVESTMENTS	$336,212,866	$9,261,480	$19,340	$345,493,686

(a)	The Fund held a Level 3 security that was valued at $0 at September 30, 2023.

Sector Breakdown as of September 30, 2023


		% of Net Assets
	Information Technology	21.6
	Financials	19.6
	Consumer Discretionary	15.4
	Communication Services	9.0
	Industrials	8.4
	Materials	6.4
	Consumer Staples	5.7
	Health Care	5.5
	Energy	4.4

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
COMMON STOCKS — 99.4%
BRAZIL — 1.3%
Alupar Investimento SA	280,590	$ 1,612,277
Cia de Saneamento do Parana	367,348	1,677,770
		3,290,047
CHINA — 29.3%
Agricultural Bank of China Ltd. Class H	14,629,000	5,454,226
AsiaInfo Technologies Ltd. (a)	271,200	304,032
Bank of China Ltd. Class H	14,503,000	5,073,925
Bank of Communications Co. Ltd. Class H	6,596,000	3,992,038
Beijing Enterprises Holdings Ltd.	735,000	2,533,884
CGN Power Co. Ltd. Class H (a)	9,918,000	2,570,726
China CITIC Bank Corp. Ltd. Class H	10,642,000	4,946,070
China Construction Bank Corp. Class H	9,601,000	5,418,441
China Resources Land Ltd.	1,366,000	5,441,780
Chongqing Rural Commercial Bank Co. Ltd. Class H	2,924,000	1,078,974
CITIC Ltd.	3,894,000	3,579,844
CITIC Securities Co. Ltd. Class H	1,348,450	2,734,142
CITIC Telecom International Holdings Ltd.	1,050,000	415,611
Genertec Universal Medical Group Co. Ltd. (a)	1,242,000	620,060
Guangdong Investment Ltd.	2,212,000	1,688,970
Industrial & Commercial Bank of China Ltd. Class H	10,849,000	5,222,359
Jiangsu Expressway Co. Ltd. Class H	1,584,000	1,429,915
Kunlun Energy Co. Ltd.	6,990,000	6,024,439
PetroChina Co. Ltd. Class H	11,094,000	8,357,489
Shenzhen Expressway Corp. Ltd. Class H	502,000	410,222
Sinopec Engineering Group Co. Ltd. Class H	921,500	415,342
Yuexiu Property Co. Ltd.	4,221,540	4,867,369
Zhejiang Expressway Co. Ltd. Class H (b)	1,354,000	1,009,641
		73,589,499
CZECH REPUBLIC — 2.0%
CEZ AS	119,414	5,087,190
HONG KONG — 1.4%
WH Group Ltd. (a)	6,745,500	3,539,905
INDIA — 9.9%
Hero MotoCorp Ltd.	183,588	6,758,983
NTPC Ltd.	2,779,497	8,218,873
Oracle Financial Services Software Ltd.	20,999	1,039,528
Power Grid Corp. of India Ltd.	3,291,282	7,916,953

Security Description	Shares	Value
RITES Ltd.	142,662	$ 846,098
		24,780,435
INDONESIA — 1.0%
AKR Corporindo Tbk PT	14,358,500	1,435,385
Indofood Sukses Makmur Tbk PT	2,706,300	1,160,093
		2,595,478
KUWAIT — 0.8%
Mobile Telecommunications Co. KSCP	1,237,914	1,950,701
MALAYSIA — 3.3%
Malayan Banking Bhd	1,817,800	3,403,112
Maxis Bhd	604,600	520,225
MISC Bhd	411,000	619,750
Petronas Gas Bhd	102,200	366,551
Sime Darby Bhd	1,069,600	503,448
Tenaga Nasional Bhd	1,367,300	2,909,180
		8,322,266
MEXICO — 1.7%
Bolsa Mexicana de Valores SAB de CV	326,272	614,113
FIBRA Macquarie Mexico REIT (a)	272,920	458,727
Megacable Holdings SAB de CV (b)	287,744	635,145
Orbia Advance Corp. SAB de CV	501,387	1,044,694
Prologis Property Mexico SA de CV REIT	144,031	496,859
Promotora y Operadora de Infraestructura SAB de CV	103,948	931,725
		4,181,263
PHILIPPINES — 0.2%
PLDT, Inc.	30,285	629,510
POLAND — 0.2%
Asseco Poland SA	23,941	393,253
QATAR — 3.6%
Ooredoo QPSC	295,756	868,580
Qatar Electricity & Water Co. QSC	83,845	404,483
Qatar International Islamic Bank QSC	266,221	702,121
Qatar Islamic Bank SAQ	435,788	2,222,040
Qatar National Bank QPSC	986,705	4,174,521
United Development Co. QSC	1,048,893	310,922
Vodafone Qatar QSC	1,018,924	504,144
		9,186,811
RUSSIA — 0.0%
Federal Grid Co. - Rosseti PJSC (c)(d)	767,865,898	—
Inter RAO UES PJSC (c)(d)	110,161,174	—

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Unipro PJSC (c)(d)	23,862,428	$ —
		—
SAUDI ARABIA — 2.8%
Arabian Cement Co.	51,868	458,458
Saudi Telecom Co.	615,228	6,167,946
Yanbu Cement Co.	49,656	450,160
		7,076,564
SOUTH AFRICA — 1.5%
AVI Ltd.	275,051	1,089,727
Equites Property Fund Ltd. REIT	72	48
Sanlam Ltd.	800,761	2,791,277
		3,881,052
TAIWAN — 30.6%
Asia Cement Corp.	1,685,000	2,074,898
Cheng Shin Rubber Industry Co. Ltd.	1,542,000	2,030,173
Chicony Electronics Co. Ltd.	800,000	2,862,409
Chunghwa Telecom Co. Ltd.	988,000	3,550,379
Compeq Manufacturing Co. Ltd.	2,765,000	4,539,738
CTBC Financial Holding Co. Ltd.	2,960,000	2,246,558
CTCI Corp.	484,000	591,496
Eternal Materials Co. Ltd.	525,150	461,207
Far Eastern New Century Corp.	1,946,000	1,733,167
Fubon Financial Holding Co. Ltd.	1,396,100	2,625,216
Getac Holdings Corp.	2,337,000	5,617,980
Hon Hai Precision Industry Co. Ltd.	1,203,000	3,875,776
Huaku Development Co. Ltd.	271,000	753,885
Quanta Computer, Inc.	1,112,000	8,250,306
Radiant Opto-Electronics Corp.	843,000	3,212,125
Sercomm Corp.	1,108,000	4,221,868
Sporton International, Inc.	184,150	1,440,432
Stark Technology, Inc.	283,000	1,008,194
Systex Corp.	568,000	1,865,151
Taiwan Cooperative Financial Holding Co. Ltd.	1,966,500	1,559,530
Taiwan Fertilizer Co. Ltd.	428,000	780,942
Taiwan Hon Chuan Enterprise Co. Ltd.	514,000	1,679,869
Taiwan Mobile Co. Ltd.	1,100,000	3,223,618
Taiwan Secom Co. Ltd.	195,000	643,345
Tripod Technology Corp.	880,000	5,247,750
Uni-President Enterprises Corp.	1,308,000	2,840,439
Wistron Corp.	1,000	3,144
Wiwynn Corp.	52,000	2,408,265
WPG Holdings Ltd.	1,114,000	2,091,306
Zhen Ding Technology Holding Ltd.	1,117,000	3,404,929
		76,844,095

Security Description	Shares	Value
THAILAND — 8.5%
Advanced Info Service PCL NVDR	1,151,300	$ 7,208,964
AP Thailand PCL NVDR	4,614,900	1,495,525
BCPG PCL	1,470,800	387,770
Electricity Generating PCL NVDR (b)	247,000	820,790
Mega Lifesciences PCL NVDR	734,600	897,760
Supalai PCL NVDR	1,526,900	842,861
Thai Union Group PCL NVDR	9,632,000	3,835,606
TMBThanachart Bank PCL NVDR	122,497,800	5,786,371
		21,275,647
UNITED ARAB EMIRATES — 1.3%
Dana Gas PJSC	2,765,041	663,209
Emirates NBD Bank PJSC	547,364	2,652,586
		3,315,795
TOTAL COMMON STOCKS (Cost $259,663,030)		249,939,511


SHORT-TERM INVESTMENTS — 0.2%
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (e)(f)	571,836	571,950
State Street Navigator Securities Lending Portfolio II (g)(h)	12,732	12,732
TOTAL SHORT-TERM INVESTMENTS (Cost $584,682)		584,682
TOTAL INVESTMENTS — 99.6% (Cost $260,247,712)		250,524,193
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.4%		887,784
NET ASSETS — 100.0%		$ 251,411,977

(a)	Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 3.0% of net assets as of September 30, 2023, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(b)	All or a portion of the shares of the security are on loan at September 30, 2023.
(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 September 30, 2023, total aggregate fair value of the securities is $0, representing 0.00% of the Fund's net assets.
(d)	Non-income producing security.
(e)	The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these transactions during the period ended September 30, 2023 are shown in the Affiliate Table below.

See accompanying notes to financial statements.

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September 30, 2023

(f)	The rate shown is the annualized seven-day yield at September 30, 2023.
(g)	The Fund invested in an affiliated entity. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(h)	Investment of cash collateral for securities loaned.

NVDR	Non-Voting Depositary Receipt
REIT	Real Estate Investment Trust

At September 30, 2023, open futures contracts were as follows:

Description		Number of Contracts		Expiration Date		Notional Amount		Value		Unrealized Appreciation (Depreciation)
E-mini MSCI Emerging Markets (long)		33		12/15/2023		$1,629,863		$1,576,480		$(53,383)

During the year ended September 30, 2023, average notional value related to futures contracts was $1,603,983.

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of September 30, 2023.

Description	Level 1 – Quoted Prices	Level 2 – Other Significant Observable Inputs	Level 3 – Significant Unobservable Inputs	Total
ASSETS:
INVESTMENTS:
Common Stocks	$249,551,741	$387,770	$ 0(a)	$ 249,939,511
Short-Term Investments	584,682	—	—	584,682
TOTAL INVESTMENTS	$250,136,423	$387,770	$ 0	$250,524,193
OTHER FINANCIAL INSTRUMENTS:
Futures Contracts - Unrealized Depreciation	$ (53,383)	$ —	$—	$ (53,383)
TOTAL OTHER FINANCIAL INSTRUMENTS:	$ (53,383)	$ —	$—	$ (53,383)

(a)	The Fund held Level 3 securities that were valued at $0 at September 30, 2023.

The following table reconciles the valuation of the Fund's Level 3 investment securities and related transactions for the year ended September 30, 2023.

	Beginning Value at September 30, 2022*	Transfers into Level 3*	Purchases	Sales	Net realized gain	Change in Unrealized Appreciation/ Depreciation**	Transfers out of Level 3	Ending Value at September 30, 2023
Common Stocks	$3,939,621	$0	$0	$2,108,904	$(11,074,394)	$9,243,675	$—	$—

*	Transfers into or out of Level 3 are based on the beginning market value of the period in which they occurred. These transfers are the result of changes in the availability of pricing sources and/or in the observability of significant inputs used in valuing the securities. Level 3 investments were not considered significant to the Fund as of September 30, 2023.
**	Change in unrealized appreciation/depreciation is included in the related amounts on investments in the Fund's Statement of Operations.

Sector Breakdown as of September 30, 2023


		% of Net Assets
	Financials	25.2
	Information Technology	20.0
	Utilities	16.8
	Communication Services	10.2

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
COMMON STOCKS — 99.3%
BELGIUM — 0.0% (a)
Cenergy Holdings SA	24,785	$ 172,404
Citicore Energy REIT Corp.	1,528,000	69,140
		241,544
BRAZIL — 4.4%
3R Petroleum Oleo E Gas SA (b)	182,344	1,150,488
AES Brasil Energia SA (b)	169,603	369,689
Afya Ltd. Class A (b)	19,651	310,486
Alpargatas SA Preference Shares (b)	192,900	310,246
Alupar Investimento SA	109,418	628,718
Ambipar Participacoes e Empreendimentos SA	16,805	69,400
Anima Holding SA (b)	183,215	112,377
Arco Platform Ltd. Class A (b)(c)	27,938	384,986
Arezzo Industria e Comercio SA	51,935	674,039
Armac Locacao Logistica E Servicos SA	68,178	174,899
Azul SA Preference Shares (b)	207,801	601,167
Banco ABC Brasil SA (b)	1,222	4,846
Banco ABC Brasil SA Preference Shares	24,917	99,116
Banco do Estado do Rio Grande do Sul SA Class B, Preference Shares	162,693	400,134
Banco Pan SA Preference Shares	223,624	361,001
Bemobi Mobile Tech SA	44,830	106,226
Blau Farmaceutica SA	1,856	5,933
Bradespar SA	46,607	195,080
Bradespar SA Preference Shares	194,630	883,480
BrasilAgro - Co. Brasileira de Propriedades Agricolas	35,273	202,398
C&A Modas SA (b)	110,100	120,984
Camil Alimentos SA	132,033	202,856
CI&T, Inc. Class A (b)(c)	12,785	83,103
Cia Brasileira de Aluminio	74,279	67,820
Cia Brasileira de Distribuicao (b)	126,925	88,755
Cia de Ferro Ligas da Bahia FERBASA Preference Shares	38,623	388,298
Cia de Saneamento de Minas Gerais Copasa MG	149,564	517,253
Cia de Saneamento do Parana	180,949	826,439
Cia Energetica do Ceara Class A, Preference Shares	7,148	63,294
CM Hospitalar SA	101,050	338,166
Cogna Educacao SA (b)	1,196,593	635,926
Construtora Tenda SA (b)	61,300	160,807
Cury Construtora e Incorporadora SA	136,512	443,476

Security Description	Shares	Value
CVC Brasil Operadora e Agencia de Viagens SA (b)	97,998	$ 50,319
Cyrela Brazil Realty SA Empreendimentos e Participacoes	214,934	870,437
Dexco SA	241,903	372,144
Diagnosticos da America SA	236,000	583,257
Dimed SA Distribuidora da Medicamentos	34,300	80,179
Direcional Engenharia SA	136,722	523,921
EcoRodovias Infraestrutura e Logistica SA	181,896	281,282
Eletromidia SA (b)	48,808	150,075
Enauta Participacoes SA	77,433	278,469
Even Construtora e Incorporadora SA	88,935	109,632
Ez Tec Empreendimentos e Participacoes SA	79,320	298,250
Fleury SA	162,728	492,553
Fras-Le SA	50,705	164,620
Gafisa SA (b)	24,671	20,406
Gol Linhas Aereas Inteligentes SA Preference Shares (b)	129,874	171,515
Grendene SA	332,695	445,348
Grupo Casas Bahia SA (b)	376,080	47,337
Grupo De Moda Soma SA	337,852	448,876
Guararapes Confeccoes SA (b)	41,087	43,343
Hidrovias do Brasil SA (b)	288,295	263,804
Hospital Mater Dei SA	49,155	85,441
Iguatemi SA	153,697	621,826
Infracommerce CXAAS SA (b)	258,631	73,375
Intelbras SA Industria de Telecomunicacao Eletronica Brasileira	62,590	258,853
Inter & Co., Inc. BDR (b)	158,325	634,540
International Meal Co. Alimentacao SA Class A (b)	243,263	93,802
Iochpe Maxion SA	116,149	317,918
Irani Papel e Embalagem SA	115,952	293,517
IRB-Brasil Resseguros SA (b)	55,956	491,901
Jalles Machado SA	87,467	149,588
Jalles Machado SA (b)	2,771	4,739
JHSF Participacoes SA	250,187	237,931
Kepler Weber SA	82,062	189,858
Lavvi Empreendimentos Imobiliarios SA	91,930	138,670
Locaweb Servicos de Internet SA (d)	300,221	383,284
LOG Commercial Properties e Participacoes SA	36,864	149,954
Log-in Logistica Intermodal SA (b)	22,694	199,500
Lojas Quero Quero SA (b)	8,540	6,859
Mahle Metal Leve SA	33,209	320,134
Marcopolo SA Preference Shares	401,900	467,326
Marfrig Global Foods SA	371,313	528,942

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Marfrig Global Foods SA (b)	98,132	$ 137,242
Meliuz SA (b)(d)	19,420	24,909
Mills Estruturas e Servicos de Engenharia SA	130,570	316,173
Minerva SA	208,462	336,941
Movida Participacoes SA	130,102	308,801
MRV Engenharia e Participacoes SA (b)	307,396	655,302
Multilaser Industrial SA (b)	91,425	50,414
Nexa Resources SA	34,954	211,472
Odontoprev SA	203,140	441,979
Omega Energia SA (b)	133,337	261,602
Oncoclinicas do Brasil Servicos Medicos SA (b)	203,643	467,079
Orizon Valorizacao de Residuos SA (b)	41,928	307,851
Pet Center Comercio e Participacoes SA	79,824	75,276
Petroreconcavo SA	105,760	442,463
Portobello SA	49,524	57,586
Positivo Tecnologia SA	60,510	87,044
Randon SA Implementos e Participacoes Preference Shares	109,284	254,586
Romi SA	43,330	105,009
Santos Brasil Participacoes SA	498,798	854,052
Schulz SA Preference Shares	194,263	293,032
SIMPAR SA	265,300	468,563
Sinqia SA	51,764	282,131
Sitios Latinoamerica SAB de CV (b)(c)	1,166,192	465,712
SLC Agricola SA	86,636	681,809
Taurus Armas SA	33,900	108,774
Tegma Gestao Logistica SA	30,596	158,017
Terra Santa Propriedades Agricolas SA	24,100	108,193
Tres Tentos Agroindustrial SA	97,200	248,573
Tupy SA	58,849	319,688
Unifique Telecomunicacoes SA	51,600	39,278
Unipar Carbocloro SA	6,338	93,350
Unipar Carbocloro SA Class B, Preference Shares	36,408	589,415
Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao SA	54,300	186,056
Vinci Partners Investments Ltd. Class A	25,789	263,048
Vitru Ltd. (b)(c)	7,926	139,418
Vittia Fertilizantes E Biologicos SA	26,000	64,361
Vivara Participacoes SA	76,505	410,558
VTEX Class A (b)	48,037	240,665
Vulcabras Azaleia SA	127,222	503,022
Wilson Sons SA	107,371	300,326
Wiz Co.	65,203	68,392
YDUQS Participacoes SA	178,530	708,741

Security Description	Shares	Value
Zamp SA (b)	155,695	$ 190,684
		34,653,198
BRITISH VIRGIN ISLANDS — 0.0% (a)
SF Real Estate Investment Trust	434,000	140,753
CHILE — 0.5%
CAP SA	54,140	349,257
Empresa Nacional de Telecomunicaciones SA	99,186	331,971
Engie Energia Chile SA (b)	347,825	318,094
Grupo Security SA	758,979	176,383
Inversiones Aguas Metropolitanas SA	409,366	306,024
Inversiones La Construccion SA	23,543	150,136
Parque Arauco SA	626,781	896,444
Ripley Corp. SA	661,863	122,586
Salfacorp SA	296,732	134,287
SMU SA	1,646,941	287,595
SONDA SA	353,017	160,969
Vina Concha y Toro SA	490,719	542,859
		3,776,605
CHINA — 22.2%
111, Inc. ADR (b)	32,660	84,916
361 Degrees International Ltd.	953,000	480,646
5I5J Holding Group Co. Ltd. Class A (b)	162,890	57,235
ABA Chemicals Corp. Class A	107,800	120,439
Acrobiosystems Co. Ltd. Class A	2,600	25,048
Advanced Fiber Resources Zhuhai Ltd. Class A	19,700	131,924
Advanced Technology & Materials Co. Ltd. Class A	48,200	62,386
Aerospace Hi-Tech Holdings Group Ltd. Class A	36,538	49,147
Agora, Inc. ADR (b)	55,952	141,559
AK Medical Holdings Ltd. (c)(d)	588,739	496,890
A-Living Smart City Services Co. Ltd. (b)(c)(d)	729,250	411,561
Allmed Medical Products Co. Ltd. Class A	44,000	60,875
Alpha Group Class A (b)	117,100	129,705
Alphamab Oncology (b)(c)(d)	343,000	376,642
Amoy Diagnostics Co. Ltd. Class A	24,800	84,587
ANE Cayman, Inc. (b)	475,500	392,210
Angelalign Technology, Inc. (d)	38,200	237,291
Anhui Construction Engineering Group Co. Ltd. Class A	245,400	165,380
Anhui Estone Materials Technology Co. Ltd. Class A	31,976	113,978
Anhui Genuine New Materials Co. Ltd. Class A (b)	3,380	3,939
Anhui Huaheng Biotechnology Co. Ltd. Class A	12,512	175,356

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Anhui Huilong Agricultural Means of Production Co. Ltd. Class A	18,900	$ 18,859
Anhui Jiangnan Chemical Industry Co. Ltd. Class A	251,400	176,324
Anhui Jinhe Industrial Co. Ltd. Class A	63,600	200,077
Anhui Sinonet & Xonglong Science & Technology Co. Ltd. Class A (b)	252,100	203,459
Anhui Tatfook Technology Co. Ltd. Class A (b)	37,500	55,639
Anhui Tongguan Copper Foil Group Co. Ltd. Class A	70,221	120,380
Anhui Transport Consulting & Design Institute Co. Ltd. Class A	46,848	62,115
Anhui Truchum Advanced Materials & Technology Co. Ltd. Class A	145,300	139,801
Anhui Wanwei Updated High-Tech Material Industry Co. Ltd. Class A	206,400	143,913
Anhui Yingliu Electromechanical Co. Ltd. Class A	69,300	132,974
Anton Oilfield Services Group (b)	792,000	43,990
Anyang Iron & Steel, Inc. Class A (b)	544,800	160,769
Aoshikang Technology Co. Ltd. Class A (b)	14,800	65,451
Aotecar New Energy Technology Co. Ltd. Class A (b)	119,300	41,264
ApicHope Pharmaceutical Co. Ltd. Class A	26,550	93,435
Appotronics Corp. Ltd. Class A	46,431	161,870
Archermind Technology Nanjing Co. Ltd. Class A (b)	10,700	69,627
Archosaur Games, Inc. (b)(d)	60,000	20,378
Arctech Solar Holding Co. Ltd. Class A	12,995	132,808
Arrail Group Ltd. (b)(c)(d)	172,000	169,983
Ascentage Pharma Group International (b)(c)(d)	190,219	507,617
Ascletis Pharma, Inc. (b)(d)	221,000	55,590
Asia Cement China Holdings Corp.	159,270	53,484
Asiainfo Security Technologies Co. Ltd. Class A	50,672	126,441
AsiaInfo Technologies Ltd. (d)	400,714	449,226
ATRenew, Inc. ADR (b)	94,377	215,180
Ausnutria Dairy Corp. Ltd. (c)	82,000	30,259
AustAsia Group Ltd. (b)	27,000	6,102
Autel Intelligent Technology Corp. Ltd. Class A (b)	37,139	151,038
Bafang Electric Suzhou Co. Ltd. Class A	17,680	139,072

Security Description	Shares	Value
Bairong, Inc. (b)(d)	277,865	$ 360,465
Baota Industry Co. Ltd. Class A (b)	161,700	119,182
Baowu Magnesium Technology Co. Ltd. Class A	49,500	134,387
Baoxiniao Holding Co. Ltd. Class A	140,300	127,865
Baozun, Inc. Class A (b)	15,941	15,937
Bear Electric Appliance Co. Ltd. Class A	13,645	108,980
Beauty Farm Medical & Health Industry, Inc.	23,000	30,894
Beibuwan Port Co. Ltd. Class A	123,600	133,512
Beijing Aerospace Shenzhou Intelligent Equipment Technology Co. Ltd. Class A	36,600	53,551
Beijing Aosaikang Pharmaceutical Co. Ltd. Class A (b)	128,208	159,958
Beijing Baination Pictures Co. Ltd. Class A (b)	141,000	110,505
Beijing Bei Mo Gao Ke Friction Material Co. Ltd. Class A (b)	42,600	218,679
Beijing Bohui Innovation Biotechnology Group Co. Ltd. Class A (b)	165,300	129,322
Beijing Caishikou Department Store Co. Ltd. Class A	69,300	138,300
Beijing Capital Development Co. Ltd. Class A	243,200	136,525
Beijing Career International Co. Ltd. Class A	7,400	32,106
Beijing Certificate Authority Co. Ltd. Class A	18,700	76,204
Beijing Changjiu Logistics Corp. Class A (b)	67,600	131,753
Beijing Chunlizhengda Medical Instruments Co. Ltd. Class A	10,382	35,468
Beijing Chunlizhengda Medical Instruments Co. Ltd. Class H (c)	76,250	118,973
Beijing Cuiwei Tower Co. Ltd. Class A (b)	86,200	186,580
Beijing eGOVA Co. Ltd. Class A	44,880	118,703
Beijing Enterprises Urban Resources Group Ltd.	100,000	6,512
Beijing Gehua CATV Network Co. Ltd. Class A	159,700	173,164
Beijing Haixin Energy Technology Co. Ltd. Class A (b)	144,700	67,526
Beijing Hezong Science & Technology Co. Ltd. Class A (b)	65,100	37,707
Beijing Highlander Digital Technology Co. Ltd. Class A (b)	42,100	61,829

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Beijing Jingcheng Machinery Electric Co. Ltd. Class A (b)	15,600	$ 25,694
Beijing Jingneng Clean Energy Co. Ltd. Class H	1,594,000	331,750
Beijing Leike Defense Technology Co. Ltd. Class A (b)	52,600	39,852
Beijing North Star Co. Ltd. Class A (b)	613,500	177,674
Beijing Orient Landscape & Environment Co. Ltd. Class A (b)	318,600	109,323
Beijing Orient National Communication Science & Technology Co. Ltd. Class A (b)	82,600	123,462
Beijing Science Sun Pharmaceutical Co. Ltd. Class A	80,600	127,332
Beijing Sifang Automation Co. Ltd. Class A	72,000	155,053
Beijing SL Pharmaceutical Co. Ltd. Class A	72,900	123,872
Beijing SPC Environment Protection Tech Co. Ltd. Class A	47,600	34,104
Beijing Strong Biotechnologies, Inc. Class A	43,900	120,389
Beijing Sun-Novo Pharmaceutical Research Co. Ltd. Class A	14,909	131,087
Beijing SuperMap Software Co. Ltd. Class A (b)	31,500	87,508
Beijing Tianyishangjia New Material Corp. Ltd. Class A	53,980	133,436
Beijing Tongtech Co. Ltd. Class A	28,700	67,321
Beijing VRV Software Corp. Ltd. Class A (b)	81,600	53,312
Beijing Wandong Medical Technology Co. Ltd. Class A	59,000	149,813
Beijing Water Business Doctor Co. Ltd. Class A (b)	56,800	54,260
Beijing Watertek Information Technology Co. Ltd. Class A (b)	429,900	188,228
Beijing Yuanliu Hongyuan Electronic Technology Co. Ltd. Class A	21,000	178,388
Beijing Zhong Ke San Huan High-Tech Co. Ltd. Class A	118,500	176,959
Bestechnic Shanghai Co. Ltd. Class A (b)	8,988	143,904
Bestore Co. Ltd. Class A	41,100	125,967
Bestway Marine & Energy Technology Co. Ltd. Class A (b)	116,500	72,115
Better Life Commercial Chain Share Co. Ltd. Class A (b)	186,400	124,339

Security Description	Shares	Value
Beyondsoft Corp. Class A	32,900	$ 54,910
Binjiang Service Group Co. Ltd.	96,284	214,406
Bio-Thera Solutions Ltd. Class A (b)	34,014	145,753
Bit Digital, Inc. (b)(c)	45,372	97,096
Black Peony Group Co. Ltd. Class A	80,600	61,398
Blivex Energy Technology Co. Ltd. Class A (b)	590,500	118,331
Blue Sail Medical Co. Ltd. Class A	116,100	108,838
BMC Medical Co. Ltd. Class A	6,900	121,507
Bomin Electronics Co. Ltd. Class A	88,100	131,441
Bona Film Group Co. Ltd. Class A (b)	108,200	112,421
BrightGene Bio-Medical Technology Co. Ltd. Class A	27,691	116,264
Brii Biosciences Ltd. (b)(c)	15,500	4,968
Broadex Technologies Co. Ltd. Class A	29,300	135,727
Bros Eastern Co. Ltd. Class A	158,200	121,162
B-Soft Co. Ltd. Class A	120,400	111,381
Burning Rock Biotech Ltd. ADR (b)	8,417	8,164
C&D Property Management Group Co. Ltd.	404,293	166,738
C*Core Technology Co. Ltd. Class A	27,890	110,132
Caina Technology Co. Ltd. Class A	25,300	136,436
Canaan, Inc. ADR (b)	44,445	80,890
Canggang Railway Ltd.	144,000	202,251
Cangzhou Mingzhu Plastic Co. Ltd. Class A	3,200	1,823
CanSino Biologics, Inc. Class H (b)(c)(d)	105,400	328,372
CARsgen Therapeutics Holdings Ltd. (b)(c)(d)	276,500	294,440
Castech, Inc. Class A	24,100	92,487
CATARC Automotive Proving Ground Co. Ltd. Class A	150,100	124,023
Cayman Engley Industrial Co. Ltd.	43,313	77,152
CCCG Real Estate Corp. Ltd. Class A	62,600	105,769
CCS Supply Chain Management Co. Ltd. Class A	141,200	115,894
CECEP Techand Ecology & Environment Co. Ltd. Class A (b)	549,300	177,175
Center International Group Co. Ltd. Class A	66,700	171,196
Central China Land Media Co. Ltd. Class A	70,200	102,519

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Central China Management Co. Ltd.	44,000	$ 1,994
Central China New Life Ltd. (b)	61,000	17,758
CGN Mining Co. Ltd. (b)(c)	2,675,004	522,578
CGN New Energy Holdings Co. Ltd. (c)	1,326,000	352,162
CGN Nuclear Technology Development Co. Ltd. Class A	46,300	50,013
Changchun Faway Automobile Components Co. Ltd. Class A	9,700	11,849
Changchun UP Optotech Co. Ltd. Class A	24,000	126,164
Changjiang Publishing & Media Co. Ltd. Class A	114,500	120,382
Chaoju Eye Care Holdings Ltd.	386,500	203,815
Chaowei Power Holdings Ltd.	231,000	41,293
ChemPartner PharmaTech Co. Ltd. Class A (b)	116,000	138,358
Chen Lin Education Group Holdings Ltd. (b)	272,000	65,987
Cheng De Lolo Co. Ltd. Class A	50,200	59,118
Chengdu ALD Aviation Manufacturing Corp. Class A	6,480	18,446
Chengdu B-Ray Media Co. Ltd. Class A	165,300	118,886
Chengdu Bright Eye Hospital Co. Ltd. Class A	9,900	159,566
Chengdu CORPRO Technology Co. Ltd. Class A (b)	58,900	170,174
Chengdu Easton Bio Pharmaceutical Co. Ltd. Class A	20,698	156,817
Chengdu Guoguang Electric Co. Ltd. Class A (b)	10,461	122,748
Chengdu Hongqi Chain Co. Ltd. Class A	45,700	33,307
Chengdu Information Technology of Chinese Academy of Sciences Co. Ltd. Class A	24,100	112,367
Chengdu Kanghong Pharmaceutical Group Co. Ltd. Class A	54,000	117,698
Chengdu Kanghua Biological Products Co. Ltd. Class A	16,200	148,909
Chengdu Leejun Industrial Co. Ltd. Class A	55,900	60,076
Chengdu M&S Electronics Technology Co. Ltd. Class A (b)	20,010	110,490
Chengdu Olymvax Biopharmaceuticals, Inc. Class A (b)	55,116	136,471
Chengdu RML Technology Co. Ltd. Class A	20,700	169,305

Security Description	Shares	Value
Chengdu Spaceon Electronics Co. Ltd. Class A	18,460	$ 42,490
Chengdu XGimi Technology Co. Ltd. Class A	8,060	136,314
Chengdu Xuguang Electronics Co. Ltd. Class A (b)	116,500	129,520
Chenguang Biotech Group Co. Ltd. Class A	18,900	38,912
Chengzhi Co. Ltd. Class A	71,100	76,216
Chenzhou City Jingui Silver Industry Co. Ltd. Class A (b)	301,300	112,898
Chervon Holdings Ltd.	78,600	235,343
China Aircraft Leasing Group Holdings Ltd.	45,500	22,367
China Aluminum International Engineering Corp. Ltd. Class A (b)	68,900	47,757
China Animal Husbandry Industry Co. Ltd. Class A	108,600	168,287
China BlueChemical Ltd. Class H	1,582,000	391,872
China Chunlai Education Group Co. Ltd.	342,000	317,902
China Conch Environment Protection Holdings Ltd. (b)(c)	469,000	100,605
China Conch Venture Holdings Ltd.	837,000	713,900
China CYTS Tours Holding Co. Ltd. Class A (b)	77,500	128,817
China Design Group Co. Ltd. Class A	31,320	35,723
China Dili Group (b)(c)(e)	1,900,000	80,058
China Dongxiang Group Co. Ltd.	1,976,000	68,122
China East Education Holdings Ltd. (c)(d)	407,500	167,540
China Everbright Ltd.	422,902	244,610
China Express Airlines Co. Ltd. Class A (b)	86,900	86,235
China Foods Ltd.	700,000	230,597
China Forestry Holdings Co. Ltd. (b)(e)	1,642,000	—
China Fortune Land Development Co. Ltd. Class A (b)	384,100	114,928
China Hanking Holdings Ltd.	381,891	33,158
China Harzone Industry Corp. Ltd. Class A	45,300	48,995
China High Speed Railway Technology Co. Ltd. Class A (b)	551,200	184,597
China Isotope & Radiation Corp.	30,403	47,205
China Kepei Education Group Ltd.	396,000	106,182
China Lesso Group Holdings Ltd.	933,000	496,768

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
China Lilang Ltd.	195,000	$ 91,626
China Meidong Auto Holdings Ltd.	590,000	323,180
China Modern Dairy Holdings Ltd.	1,258,791	123,760
China New Higher Education Group Ltd. (d)	450,093	123,560
China Nonferrous Metal Industry's Foreign Engineering & Construction Co. Ltd. Class A (b)	73,700	48,555
China Nonferrous Mining Corp. Ltd.	1,082,746	695,393
China Oriental Group Co. Ltd.	26,882	4,256
China Overseas Grand Oceans Group Ltd.	1,423,000	594,139
China Railway Tielong Container Logistics Co. Ltd. Class A	182,900	155,393
China Rare Earth Holdings Ltd. (b)	874,400	43,542
China Reform Health Management & Services Group Co. Ltd. Class A (b)	78,500	115,287
China Renaissance Holdings Ltd. (b)(c)(d)(e)	177,940	123,881
China Resources Medical Holdings Co. Ltd.	731,500	479,145
China Risun Group Ltd. (c)	1,343,000	565,882
China Sanjiang Fine Chemicals Co. Ltd. (b)	205,097	25,402
China SCE Group Holdings Ltd. (b)(c)	643,307	25,053
China Shineway Pharmaceutical Group Ltd.	248,138	248,079
China South City Holdings Ltd. (c)	3,048,000	177,077
China Sports Industry Group Co. Ltd. Class A	104,500	126,219
China Testing & Certification International Group Co. Ltd. Class A	54,322	81,120
China Tianying, Inc. Class A (b)	228,200	175,713
China Travel International Investment Hong Kong Ltd.	1,470,000	281,543
China Tungsten & Hightech Materials Co. Ltd. Class A	109,500	140,073
China Water Affairs Group Ltd.	859,357	556,310
China West Construction Group Co. Ltd. Class A	54,200	56,017
China XLX Fertiliser Ltd.	585,118	294,358
China Yongda Automobiles Services Holdings Ltd.	932,000	360,574
China Youran Dairy Group Ltd. (d)	802,000	148,483
China Yuhua Education Corp. Ltd. (b)(d)	58,653	4,643

Security Description	Shares	Value
China-Singapore Suzhou Industrial Park Development Group Co. Ltd. Class A	53,000	$ 65,107
Chinasoft International Ltd.	2,182,000	1,554,621
Chlitina Holding Ltd.	56,000	326,141
Chongqing Baiya Sanitary Products Co. Ltd. Class A	61,100	123,697
Chongqing Chuanyi Automation Co. Ltd. Class A	30,800	137,983
Chongqing Department Store Co. Ltd. Class A	20,100	90,848
Chongqing Dima Industry Co. Ltd. Class A (b)	577,400	132,348
Chongqing Gas Group Corp. Ltd. Class A	213,200	201,034
Chongqing Hongjiu Fruit Co. Ltd. Class H (b)	171,600	122,261
Chongqing Road & Bridge Co. Ltd. Class A	212,700	143,050
Chongqing Sanfeng Environment Group Corp. Ltd. Class A	52,100	53,632
Chongqing Shunbo Aluminum Co. Ltd. Class A	72,800	115,609
Chongqing Zongshen Power Machinery Co. Ltd. Class A	37,500	35,154
Chongyi Zhangyuan Tungsten Industry Co. Ltd. Class A	70,720	55,619
Chutian Dragon Co. Ltd. Class A	22,800	49,100
CIG Shanghai Co. Ltd. Class A (b)	18,000	134,301
Cinda Real Estate Co. Ltd. Class A	209,600	117,663
Circuit Fabology Microelectronics Equipment Co. Ltd. Class A (b)	11,657	105,278
CITIC Guoan Wine Co. Ltd. Class A (b)	118,200	126,867
CITIC Resources Holdings Ltd.	1,400,000	62,565
CITIC Telecom International Holdings Ltd.	1,875,287	742,275
City Development Environment Co. Ltd. Class A	14,500	22,171
Client Service International, Inc. Class A	33,950	64,398
Cloud Music, Inc. (b)(c)(d)	48,800	530,878
ClouDr Group Ltd. (b)	218,500	205,894
Clover Biopharmaceuticals Ltd. (b)	40,500	3,982
CMGE Technology Group Ltd. (b)	191,338	32,737
CMST Development Co. Ltd. Class A	124,100	90,276
CNSIG Inner Mongolia Chemical Industry Co. Ltd. Class A	122,100	143,455

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
CoCreation Grass Co. Ltd. Class A	5,900	$ 17,451
COFCO Joycome Foods Ltd. (b)(c)	2,754,236	608,391
Cofoe Medical Technology Co. Ltd. Class A	11,400	60,804
COL Group Co. Ltd. Class A (b)	53,000	104,025
Colorlight Cloud Tech Ltd. Class A	2,800	31,660
Consun Pharmaceutical Group Ltd.	226,000	146,880
Contec Medical Systems Co. Ltd. Class A	26,400	78,304
COSCO SHIPPING International Hong Kong Co. Ltd.	608,000	262,395
COSCO SHIPPING Specialized Carriers Co. Ltd. Class A	170,300	124,586
CPMC Holdings Ltd.	691,000	514,378
CPT Technology Group Co. Ltd. Class A (b)	432,800	284,543
CQ Pharmaceutical Holding Co. Ltd. Class A	68,800	53,637
Crystal Clear Electronic Material Co. Ltd. Class A	54,910	80,793
CSG Smart Science&Technology Co. Ltd. Class A (b)	141,100	144,668
CSSC Hong Kong Shipping Co. Ltd.	1,304,321	228,161
CTS International Logistics Corp. Ltd. Class A	40,000	38,925
Cubic Sensor & Instrument Co. Ltd. Class A	11,079	113,653
Daan Gene Co. Ltd. Class A	123,000	164,940
Dada Nexus Ltd. ADR (b)	69,108	307,531
Dalian Huarui Heavy Industry Group Co. Ltd. Class A	107,200	69,448
Dalipal Holdings Ltd.	476,000	266,205
Dazhong Transportation Group Co. Ltd. Class B	563,135	110,374
DBAPP Security Ltd. Class A (b)	6,326	124,831
DBG Technology Co. Ltd. Class A	57,900	133,748
DeHua TB New Decoration Materials Co. Ltd. Class A	53,000	73,108
Delixi New Energy Technology Co. Ltd. Class A (b)	34,900	113,240
Dexin Services Group Ltd. (b)	124,000	39,107
Dezhan Healthcare Co. Ltd. Class A (b)	281,900	165,215
Dian Diagnostics Group Co. Ltd. Class A	51,700	166,757
Digital China Information Service Group Co. Ltd. Class A	48,000	77,016

Security Description	Shares	Value
DingDong Cayman Ltd. ADR (b)(c)	50,953	$ 99,358
Dizal Jiangsu Pharmaceutical Co. Ltd. Class A (b)	32,877	160,104
Dongfang Electronics Co. Ltd. Class A	70,000	79,745
DongFeng Automobile Co. Ltd. Class A	249,100	190,097
Dongguan Aohai Technology Co. Ltd. Class A	17,900	89,700
Dongguan Development Holdings Co. Ltd. Class A	66,100	81,743
Dongguan Eontec Co. Ltd. Class A (b)	137,000	125,234
Dongguan Yutong Optical Technology Co. Ltd. Class A (b)	74,100	144,828
Dongjiang Environmental Co. Ltd. Class A (b)	93,100	72,709
Dongrui Food Group Co. Ltd. Class A (b)	44,300	142,118
Double Medical Technology, Inc. Class A (b)	29,200	130,375
DouYu International Holdings Ltd. ADR (b)	36,354	35,394
DR Corp. Ltd. Class A	24,903	113,069
Dynagreen Environmental Protection Group Co. Ltd. Class A	1,500	1,447
Dynagreen Environmental Protection Group Co. Ltd. Class H	335,058	100,964
Eastern Communications Co. Ltd. Class A	56,000	91,697
Eastern Communications Co. Ltd. Class B	109,400	43,541
E-Commodities Holdings Ltd.	954,000	176,625
Edan Instruments, Inc. Class A	54,400	82,058
Edvantage Group Holdings Ltd.	109,143	32,470
EEKA Fashion Holdings Ltd. (c)	249,104	472,009
EHang Holdings Ltd. ADR (b)(c)	31,262	563,341
Elion Energy Co. Ltd. Class A	372,900	141,774
Emeren Group Ltd. ADR (b)(c)	16,346	50,346
Era Co. Ltd. Class A	72,000	54,353
Espressif Systems Shanghai Co. Ltd. Class A (b)	7,567	105,522
Essex Bio-technology Ltd.	147,000	53,681
EVA Precision Industrial Holdings Ltd.	943,189	81,892
Everest Medicines Ltd. (b)(c)(d)	182,500	582,557
Excellence Commercial Property & Facilities Management Group Ltd. (c)	7,784	2,008

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Fangda Special Steel Technology Co. Ltd. Class A (b)	222,700	$ 144,580
Fanhua, Inc. ADR (b)	37,546	270,707
Fanli Digital Technology Co. Ltd. Class A (b)	101,600	114,070
Far East Smarter Energy Co. Ltd. Class A (b)	211,100	138,497
FAWER Automotive Parts Co. Ltd. Class A	130,400	94,143
FESCO Group Co. Ltd. Class A (b)	41,400	142,513
FIH Mobile Ltd. (b)	2,409,198	206,102
FinVolution Group ADR	135,695	675,761
Fire Rock Holdings Ltd. (b)(c)	958,700	37,947
First Tractor Co. Ltd. Class A	37,500	63,669
First Tractor Co. Ltd. Class H	490,000	249,635
Flowing Cloud Technology Ltd. (b)(c)	989,000	208,361
Focus Lightings Tech Co. Ltd. Class A	42,300	61,774
Focus Technology Co. Ltd. Class A	29,300	130,298
Focuslight Technologies, Inc. Class A	8,976	109,857
Foran Energy Group Co. Ltd. Class A	16,000	26,375
Foshan Yowant Technology Co. Ltd. Class A (b)	85,000	113,516
Fosun Tourism Group (b)(d)	167,993	159,373
Frontier Biotechnologies, Inc. Class A (b)	85,737	129,210
Fu Shou Yuan International Group Ltd.	1,186,000	826,824
Fufeng Group Ltd. (c)	1,175,000	661,625
Fujian Aonong Biological Technology Group, Inc. Ltd. Class A (b)	100,600	112,671
Fujian Apex Software Co. Ltd. Class A	14,500	123,790
Fujian Boss Software Development Co. Ltd. Class A	64,392	140,083
Fujian Foxit Software Development JSC Ltd. Class A	10,349	116,079
Fujian Snowman Co. Ltd. Class A (b)	59,600	62,007
Fujian Star-net Communication Co. Ltd. Class A	30,800	81,970
Fujian Yongfu Power Engineering Co. Ltd. Class A	1,700	7,229
Fulin Precision Co. Ltd. Class A	112,800	156,681
Funshine Culture Group Co. Ltd. Class A (b)	15,300	108,527

Security Description	Shares	Value
Gansu Jiu Steel Group Hongxing Iron & Steel Co. Ltd. Class A (b)	892,300	$ 192,281
Gansu Qilianshan Cement Group Co. Ltd. Class A (b)	33,700	52,037
Ganzhou Teng Yuan Cobalt New Material Co. Ltd. Class A	37,900	190,651
Gaotu Techedu, Inc. ADR (b)(c)	114,949	317,259
GemPharmatech Co. Ltd. Class A	53,280	125,782
Genertec Universal Medical Group Co. Ltd. (d)	962,636	480,590
Genimous Technology Co. Ltd. Class A (b)	94,360	83,665
GEPIC Energy Development Co. Ltd. Class A	76,100	58,074
Getein Biotech, Inc. Class A	47,750	73,469
Giantec Semiconductor Corp. Class A	14,782	111,893
Global New Material International Holdings Ltd. (b)(c)	284,000	147,950
Globe Jiangsu Co. Ltd. Class A	45,200	113,531
GoldenHome Living Co. Ltd. Class A	10,192	37,882
Goldenmax International Group Ltd. Class A	37,100	47,255
Grand Industrial Holding Group Co. Ltd. Class A (b)	148,900	145,513
Great Chinasoft Technology Co. Ltd. Class A (b)	85,000	138,716
Great Microwave Technology Co. Ltd. Class A	16,660	110,674
Greatoo Intelligent Equipment, Inc. Class A	225,600	114,879
Greatview Aseptic Packaging Co. Ltd. (b)	462,725	126,436
Gree Real Estate Co. Ltd. Class A (b)	112,800	112,401
Greentown Management Holdings Co. Ltd. (d)	655,904	474,853
Greentown Service Group Co. Ltd.	1,332,000	598,663
GRG Metrology & Test Group Co. Ltd. Class A	3,700	7,567
Guangdong Advertising Group Co. Ltd. Class A	137,100	100,674
Guangdong Aofei Data Technology Co. Ltd. Class A	76,967	97,084
Guangdong Baolihua New Energy Stock Co. Ltd. Class A	127,400	94,251
Guangdong Chj Industry Co. Ltd. Class A	137,400	125,411
Guangdong Dongfang Precision Science & Technology Co. Ltd. Class A (b)	108,600	75,871

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Guangdong Dongpeng Holdings Co. Ltd. Class A	74,300	$ 108,609
Guangdong Fangyuan New Materials Group Co. Ltd. Class A (b)	92,401	112,620
Guangdong Ganhua Science & Industry Co. Ltd. Class A (b)	86,701	117,216
Guangdong Golden Dragon Development, Inc. Class A (b)	42,800	76,251
Guangdong Great River Smarter Logistics Co. Ltd. Class A	51,500	151,056
Guangdong Guanghua Sci-Tech Co. Ltd. Class A (b)	18,800	37,235
Guangdong Guangzhou Daily Media Co. Ltd. Class A	184,800	116,677
Guangdong Highsun Group Co. Ltd. Class A (b)	208,000	61,095
Guangdong Hongtu Technology Holdings Co. Ltd. Class A (b)	49,600	118,728
Guangdong Huate Gas Co. Ltd. Class A	12,806	118,995
Guangdong Hybribio Biotech Co. Ltd. Class A	26,275	35,054
Guangdong Jia Yuan Technology Shares Co. Ltd. Class A	59,324	166,921
Guangdong Lvtong New Energy Electric Vehicle Technology Co. Ltd. Class A	16,800	106,347
Guangdong Lyric Robot Automation Co. Ltd. Class A	18,399	113,691
Guangdong Marubi Biotechnology Co. Ltd. Class A	22,300	75,662
Guangdong Shenling Environmental Systems Co. Ltd. Class A	30,100	113,571
Guangdong Shirongzhaoye Co. Ltd. Class A (b)	129,900	114,999
Guangdong Shunkong Development Co. Ltd. Class A	27,200	58,800
Guangdong Sirio Pharma Co. Ltd. Class A	33,900	120,138
Guangdong South New Media Co. Ltd. Class A	18,100	91,050
Guangdong Taienkang Pharmaceutical Co. Ltd. Class A	46,949	119,535
Guangdong Tapai Group Co. Ltd. Class A	292,800	332,757
Guangdong Xinbao Electrical Appliances Holdings Co. Ltd. Class A	70,700	171,079
Guangdong Zhongnan Iron & Steel Co. Ltd. Class A	129,200	51,604

Security Description	Shares	Value
Guangdong Zhongsheng Pharmaceutical Co. Ltd. Class A	43,900	$ 112,676
Guanghui Logistics Co. Ltd. Class A (b)	138,300	135,344
Guangxi Liugong Machinery Co. Ltd. Class A	101,520	100,046
Guangxi Radio & Television Information Network Corp. Ltd. Class A (b)	215,100	117,208
Guangzhou Grandbuy Co. Ltd. Class A (b)	132,500	120,029
Guangzhou Haoyang Electronic Co. Ltd. Class A	8,500	106,703
Guangzhou KDT Machinery Co. Ltd. Class A	23,860	64,188
Guangzhou Lingnan Group Holdings Co. Ltd. Class A (b)	89,600	111,297
Guangzhou Pearl River Piano Group Co. Ltd. Class A	165,500	126,071
Guangzhou Sanfu New Materials Technology Co. Ltd. Class A (b)	10,860	115,967
Guangzhou Sie Consulting Co. Ltd. Class A	21,980	69,448
Guangzhou Wondfo Biotech Co. Ltd. Class A	35,700	124,557
Guangzhou Zhiguang Electric Co. Ltd. Class A	40,900	40,362
Guilin Layn Natural Ingredients Corp. Class A	118,200	123,623
Guilin Sanjin Pharmaceutical Co. Ltd. Class A	63,900	147,696
Guizhou Aviation Technical Development Co. Ltd. Class A	15,082	117,249
Guizhou Bailing Group Pharmaceutical Co. Ltd. Class A (b)	73,200	80,979
Guizhou Broadcasting & TV Information Network Co. Ltd. Class A (b)	96,800	149,204
Guizhou Chanhen Chemical Corp. Class A	47,900	117,223
Guizhou Chitianhua Co. Ltd. Class A (b)	427,500	160,186
Guizhou Panjiang Refined Coal Co. Ltd. Class A	199,400	168,864
Guizhou Zhenhua E-chem, Inc. Class A	45,552	145,989
Guizhou Zhongyida Co. Ltd. Class A (b)	90,300	115,141
Guizhou Zhongyida Co. Ltd. Class B (b)	106,700	33,824
Haichang Ocean Park Holdings Ltd. (b)(c)(d)	2,691,000	402,008
Haima Automobile Co. Ltd. Class A (b)	262,000	150,315

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Hainan Development Holdings Nanhai Co. Ltd. Class A (b)	1,600	$ 2,025
Hainan Haiqi Transportation Group Co. Ltd. Class A (b)	51,000	113,119
Hainan Jinpan Smart Technology Co. Ltd. Class A	33,281	158,874
Hainan Meilan International Airport Co. Ltd. Class H (b)	4,940	4,541
Hainan Mining Co. Ltd. Class A	131,300	116,779
Hainan Poly Pharm Co. Ltd. Class A	23,200	69,067
Hainan Strait Shipping Co. Ltd. Class A	146,300	116,466
Haitong UniTrust International Leasing Co. Ltd. Class H (c)(d)	762,000	95,349
Halo Microelectronics Co. Ltd. Class A (b)	46,104	101,880
Hand Enterprise Solutions Co. Ltd. Class A	102,400	126,634
Hangxiao Steel Structure Co. Ltd. Class A	232,300	116,696
Hangzhou Bio-Sincerity Pharma-Tech Co. Ltd. Class A	14,200	134,482
Hangzhou Dptech Technologies Co. Ltd. Class A	48,650	101,230
Hangzhou Electronic Soul Network Technology Co. Ltd. Class A	27,100	102,623
Hangzhou Greenda Electronic Materials Co. Ltd. Class A	27,200	107,631
Hangzhou Haoyue Personal Care Co. Ltd. Class A	11,600	68,064
Hangzhou Honghua Digital Technology Stock Co. Ltd. Class A	10,932	144,059
Hangzhou Lianluo Interactive Information Technology Co. Ltd. Class A (b)	193,800	76,076
Hangzhou Onechance Tech Corp. Class A	6,000	20,547
Hangzhou SF Intra-City Industrial Co. Ltd. Class H (b)(d)	108,000	115,421
Hangzhou Shunwang Technology Co. Ltd. Class A	58,200	107,441
Hangzhou Steam Turbine Power Group Co. Ltd. Class B	311,443	329,662
Hangzhou Weiguang Electronic Co. Ltd. Class A	42,500	130,958
Harbin Electric Co. Ltd. Class H	464,000	141,596
Harbin Gloria Pharmaceuticals Co. Ltd. Class A (b)	501,200	155,470
Harbin Hatou Investment Co. Ltd. Class A (b)	202,400	160,014

Security Description	Shares	Value
HBIS Resources Co. Ltd. Class A	42,400	$ 93,230
HBM Holdings Ltd. (b)(d)	81,842	15,257
HC SemiTek Corp. Class A (b)	62,700	55,508
Health & Happiness H&H International Holdings Ltd.	249,000	309,030
Hefei Jianghang Aircraft Equipment Co. Ltd. Class A	99,076	162,639
Hefei Urban Construction Development Co. Ltd. Class A	33,800	30,480
HeiLongJiang ZBD Pharmaceutical Co. Ltd. Class A	71,400	124,753
Helens International Holdings Co. Ltd.	361,000	283,938
Hello Group, Inc. ADR	109,483	764,191
Henan Liliang Diamond Co. Ltd. Class A	29,200	133,781
Henan Lingrui Pharmaceutical Co. Class A	39,900	98,083
Henan Mingtai Al Industrial Co. Ltd. Class A	75,600	135,516
Henan Yicheng New Energy Co. Ltd. Class A (b)	213,200	146,606
Henan Yuguang Gold & Lead Co. Ltd. Class A	67,600	60,959
Henan Yuneng Holdings Co. Ltd. Class A (b)	2,800	1,726
Henan Zhongfu Industry Co. Ltd. Class A (b)	350,700	135,741
Hengdian Group Tospo Lighting Co. Ltd. Class A	63,300	119,115
Hengtong Logistics Co. Ltd. Class A	95,200	130,274
Hesai Group ADR (b)	34,800	348,000
Hexing Electrical Co. Ltd. Class A	50,300	184,127
Hichain Logistics Co. Ltd. Class A	55,600	140,340
Hiecise Precision Equipment Co. Ltd. Class A	41,300	170,568
Hiroca Holdings Ltd.	21,000	23,778
HitGen, Inc. Class A (b)	59,196	128,373
HMT Xiamen New Technical Materials Co. Ltd. Class A	31,100	134,504
Holitech Technology Co. Ltd. Class A (b)	296,500	142,436
Holly Futures Co. Ltd. Class A	10,100	17,176
Hollysys Automation Technologies Ltd. (b)	49,828	988,588
Hong Kong Aerospace Technology Group Ltd. (b)	29,238	19,338
Hope Education Group Co. Ltd. (b)(c)(d)	1,528,597	96,613
Hua Medicine (b)(d)	181,398	39,375
Huabao Flavours & Fragrances Co. Ltd. Class A	41,100	126,023

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Huangshan Tourism Development Co. Ltd. Class B (b)	321,361	$ 230,737
Huapont Life Sciences Co. Ltd. Class A	19,600	13,478
Huatu Cendes Co. Ltd. Class A	14,600	120,996
Huawen Media Group Class A (b)	475,600	139,695
Huayi Brothers Media Corp. Class A (b)	304,700	127,973
Huazhong In-Vehicle Holdings Co. Ltd. (c)	747,687	242,487
Hubei Broadcasting & Television Information Network Co. Ltd. Class A (b)	165,000	118,217
Hubei Yihua Chemical Industry Co. Ltd. Class A	85,200	126,998
Hunan Aihua Group Co. Ltd. Class A	23,100	67,406
Hunan Corun New Energy Co. Ltd. Class A (b)	190,300	144,441
Hunan Er-Kang Pharmaceutical Co. Ltd. Class A	157,900	73,470
Hunan Friendship & Apollo Commercial Co. Ltd. Class A (b)	276,000	123,496
Hunan New Wellful Co. Ltd. Class A (b)	102,100	122,199
Hunan Sokan New Materials Co. Ltd. Class A	14,698	117,733
Hunan TV & Broadcast Intermediary Co. Ltd. Class A	147,500	117,826
Hunan Zhongke Electric Co. Ltd. Class A	82,100	119,560
HUYA, Inc. ADR (b)	76,950	218,538
Hwa Create Co. Ltd. Class A (b)	50,300	186,060
Hybio Pharmaceutical Co. Ltd. Class A (b)	97,300	178,955
Hymson Laser Technology Group Co. Ltd. Class A	19,473	119,472
Hytera Communications Corp. Ltd. Class A (b)	77,200	65,272
HyUnion Holding Co. Ltd. Class A (b)	42,800	38,419
IAT Automobile Technology Co. Ltd. Class A (b)	33,600	81,489
iDreamSky Technology Holdings Ltd. (b)(c)(d)	918,480	358,861
I-Mab ADR (b)(c)	5,508	7,271
Immunotech Biopharm Ltd. (b)	7,109	3,622
Infund Holding Co. Ltd. Class A (b)	320,900	131,694
Inkeverse Group Ltd. (b)	827,494	83,469
Inmyshow Digital Technology Group Co. Ltd. Class A	155,800	132,582

Security Description	Shares	Value
Inner Mongolia Furui Medical Science Co. Ltd. Class A	32,500	$ 164,245
Inner Mongolia Xinhua Distribution Group Co. Ltd. Class A	15,300	24,885
Inner Mongolia Yitai Coal Co. Ltd. Class B (b)	981,784	1,373,516
InnoCare Pharma Ltd. (b)(c)(d)	574,000	436,078
Innuovo Technology Co. Ltd. Class A	55,800	47,944
Intron Technology Holdings Ltd. (c)	521,172	215,606
IReader Technology Co. Ltd. Class A	40,800	114,407
Jacobio Pharmaceuticals Group Co. Ltd. (b)(d)	51,190	20,916
Jade Bird Fire Co. Ltd. Class A	67,200	153,571
Jangho Group Co. Ltd. Class A	106,600	112,807
JF Wealth Holdings Ltd. (c)	69,500	133,820
JH Educational Technology, Inc.	254,000	29,513
Jiajiayue Group Co. Ltd. Class A	41,100	63,914
Jiangling Motors Corp. Ltd. Class A	19,900	47,198
Jiangshan Oupai Door Industry Co. Ltd. Class A	21,600	104,683
Jiangsu Ankura Smart Transmission Engineering Technology Co. Ltd. Class A (b)	9,600	45,511
Jiangsu Asia-Pacific Light Alloy Technology Co. Ltd. Class A	143,300	116,044
Jiangsu Azure Corp. Class A	120,100	149,842
Jiangsu Boqian New Materials Stock Co. Ltd. Class A	26,700	113,532
Jiangsu Cnano Technology Co. Ltd. Class A	38,035	136,254
Jiangsu Dagang Co. Ltd. Class A (b)	51,200	104,779
Jiangsu Guomao Reducer Co. Ltd. Class A	56,400	135,393
Jiangsu Haili Wind Power Equipment Technology Co. Ltd. Class A	19,400	157,927
Jiangsu High Hope International Group Corp. Class A	315,600	122,155
Jiangsu Hongdou Industrial Co. Ltd. Class A	300,000	128,058
Jiangsu Huachang Chemical Co. Ltd. Class A	41,800	40,562
Jiangsu Huahong Technology Stock Co. Ltd. Class A	86,600	111,255
Jiangsu Huaxicun Co. Ltd. Class A	89,900	118,949
Jiangsu Jiangyin Rural Commercial Bank Co. Ltd. Class A	215,500	112,989

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Jiangsu Jiejie Microelectronics Co. Ltd. Class A	68,100	$ 161,142
Jiangsu Kanion Pharmaceutical Co. Ltd. Class A	49,400	141,303
Jiangsu Leili Motor Co. Ltd. Class A	28,200	112,363
Jiangsu Lopal Tech Co. Ltd. Class A (b)	70,700	118,387
Jiangsu Ruitai New Energy Materials Co. Ltd. Class A	82,000	202,812
Jiangsu Sanfame Polyester Material Co. Ltd. Class A	335,700	118,877
Jiangsu Shagang Co. Ltd. Class A	110,500	60,060
Jiangsu Shuangxing Color Plastic New Materials Co. Ltd. Class A	102,000	128,379
Jiangsu Sidike New Material Science & Technology Co. Ltd. Class A	22,120	54,315
Jiangsu Sunshine Co. Ltd. Class A	371,200	115,654
Jiangsu Tianmu Lake Tourism Co. Ltd. Class A (b)	37,300	110,737
Jiangsu ToLand Alloy Co. Ltd. Class A	28,900	123,720
Jiangsu Transimage Technology Co. Ltd. Class A	38,100	107,150
Jiangsu Yahong Meditech Co. Ltd. Class A (b)	84,114	129,189
Jiangsu Zhangjiagang Rural Commercial Bank Co. Ltd. Class A	162,760	99,858
Jiangsu Zhongnan Construction Group Co. Ltd. Class A (b)	253,400	55,996
Jiangsu Zongyi Co. Ltd. Class A (b)	195,500	133,629
Jiangxi Black Cat Carbon Black Co. Ltd. Class A (b)	74,900	104,448
Jiangxi Fushine Pharmaceutical Co. Ltd. Class A (b)	2,900	4,454
Jiangxi GETO New Materials Corp. Ltd. Class A	48,386	105,993
Jiangxi Huangshanghuang Group Food Co. Ltd. Class A	83,600	129,432
Jiangxi Hungpai New Material Co. Ltd. Class A	106,200	121,567
Jiangxi Jovo Energy Co. Ltd. Class A	57,400	187,742
Jiangxi Wannianqing Cement Co. Ltd. Class A	306,000	336,838
Jiangyin Hengrun Heavy Industries Co. Ltd. Class A	33,300	124,914
Jiangyin Jianghua Microelectronics Materials Co. Ltd. Class A	49,200	110,883
Jiangyin Zhongnan Heavy Industries Co. Ltd. Class A (b)	388,900	123,304

Security Description	Shares	Value
Jiangzhong Pharmaceutical Co. Ltd. Class A	36,800	$ 100,160
Jianmin Pharmaceutical Group Co. Ltd. Class A	13,600	123,722
Jianshe Industry Group Yunnan Co. Ltd. Class A (b)	67,800	114,648
Jiayou International Logistics Co. Ltd. Class A	55,100	135,599
Jilin Chemical Fibre Class A (b)	126,500	54,692
Jilin Electric Power Co. Ltd. Class A (b)	270,000	181,958
Jilin Liyuan Precision Manufacturing Co. Ltd. Class A (b)	576,300	115,485
Jilin Yatai Group Co. Ltd. Class A (b)	706,500	207,516
Jin Tong Ling Technology Group Co. Ltd. Class A (b)	80,600	32,856
Jinan Acetate Chemical Co. Ltd. (c)	30,000	1,026,936
Jinghua Pharmaceutical Group Co. Ltd. Class A	41,800	54,905
Jinhong Gas Co. Ltd. Class A	41,744	148,051
Jinhui Liquor Co. Ltd. Class A	44,400	172,950
Jinke Properties Group Co. Ltd. Class A (b)	285,000	68,064
Jinke Smart Services Group Co. Ltd. Class H (b)(c)	220,900	277,541
JinkoSolar Holding Co. Ltd. ADR (b)(c)	32,400	983,988
Jinlei Technology Co. Ltd. Class A (b)	2,200	8,998
Jinneng Holding Shanxi Electric Power Co. Ltd. Class A (b)	190,500	83,409
Jinneng Science&Technology Co. Ltd. Class A	34,700	39,816
Jinxin Fertility Group Ltd. (b)(c)(d)	1,868,000	892,040
Jinyu Bio-Technology Co. Ltd. Class A	121,400	156,796
Jishi Media Co. Ltd. Class A (b)	567,900	148,099
Jiuzhitang Co. Ltd. Class A	62,000	98,458
JNBY Design Ltd.	104,770	135,915
Joeone Co. Ltd. Class A	85,000	116,316
Jointo Energy Investment Co. Ltd. Hebei Class A	110,600	86,528
Jolywood Suzhou Sunwatt Co. Ltd. Class A	85,100	131,521
Joyoung Co. Ltd. Class A	38,900	75,977
JS Corrugating Machinery Co. Ltd. Class A (b)	49,700	109,827
JSTI Group Class A	41,900	34,103
Juneyao Grand Healthy Drinks Co. Ltd. Class A	77,200	136,159
Jushri Technologies, Inc. Class A	35,423	80,611
JW Cayman Therapeutics Co. Ltd. (b)(d)	42,350	11,193

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Kaili Catalyst & New Materials Co. Ltd. Class A	17,829	$ 123,212
Kaishan Group Co. Ltd. Class A	99,700	197,874
Kama Co. Ltd. Class B (b)	260,800	97,539
Kandi Technologies Group, Inc. (b)	51,917	179,633
Kangji Medical Holdings Ltd. (c)	314,069	270,284
KBC Corp. Ltd. Class A	13,421	146,372
KEDE Numerical Control Co. Ltd. Class A (b)	10,767	114,738
Keeson Technology Corp. Ltd. Class A (b)	15,724	26,308
Keli Sensing Technology Ningbo Co. Ltd. Class A	28,300	125,424
Keshun Waterproof Technologies Co. Ltd. Class A	69,000	69,987
Keymed Biosciences, Inc. (b)(d)	148,500	946,156
Kidswant Children Products Co. Ltd. Class A (b)	92,400	121,370
Kinetic Development Group Ltd.	1,464,000	102,811
Kingsoft Cloud Holdings Ltd. (b)(c)	1,439,895	476,175
Kintor Pharmaceutical Ltd. (b)(c)(d)	147,000	51,428
Konka Group Co. Ltd. Class A (b)	547,000	322,836
KPC Pharmaceuticals, Inc. Class A	39,600	104,303
Kuangda Technology Group Co. Ltd. Class A	184,800	115,409
Kunshan GuoLi Electronic Technology Co. Ltd. Class A	14,624	106,743
Kunshan Huguang Auto Harness Co. Ltd. Class A (b)	61,100	151,539
Kunshan Kinglai Hygienic Materials Co. Ltd. Class A	31,100	161,737
Kunwu Jiuding Investment Holdings Co. Ltd. Class A	67,600	122,939
KWG Group Holdings Ltd. (b)(c)	1,298,500	150,876
KWG Living Group Holdings Ltd. (b)(c)	84,734	6,059
Lancy Co. Ltd. Class A (b)	38,700	121,320
Lanzhou Lishang Guochao Industrial Group Co. Ltd. Class A (b)	153,300	117,620
Lanzhou LS Heavy Equipment Co. Ltd. Class A (b)	129,600	115,623
Lecron Industrial Development Group Co. Ltd. Class A (b)	117,300	114,309
Lee & Man Paper Manufacturing Ltd.	2,122,000	620,464
Lemtech Holdings Co. Ltd.	6,336	16,645

Security Description	Shares	Value
LEPU ScienTech Medical Technology Shanghai Co. Ltd. Class H (b)(c)	45,000	$ 171,798
LexinFintech Holdings Ltd. ADR	58,620	129,550
LianChuang Electronic Technology Co. Ltd. Class A	110,700	144,495
Lianhe Chemical Technology Co. Ltd. Class A	153,100	175,464
Liao Ning Oxiranchem, Inc. Class A (b)	37,400	35,882
Liaoning Chengda Biotechnology Co. Ltd. Class A	54,333	257,729
Liaoning Fu-An Heavy Industry Co. Ltd. Class A (b)	76,700	117,907
Lifetech Scientific Corp. (b)(c)	3,154,000	966,515
Ligao Foods Co. Ltd. Class A	10,700	93,478
Lihuayi Weiyuan Chemical Co. Ltd. Class A	67,500	184,830
Lily Group Co. Ltd. Class A	82,043	111,481
Linewell Software Co. Ltd. Class A	67,500	114,233
LingNan Eco&Culture-Tourism Co. Ltd. Class A (b)	247,100	108,869
Linklogis, Inc. Class B (c)(d)	494,500	110,494
Linktel Technologies Co. Ltd. Class A	9,300	114,397
Loncin Motor Co. Ltd. Class A	242,500	194,047
Longhua Technology Group Luoyang Co. Ltd. Class A	50,000	51,745
Longyan Zhuoyue New Energy Co. Ltd. Class A	20,137	135,983
Lonkey Industrial Co. Class A (b)	268,200	118,165
Lonking Holdings Ltd.	1,959,000	342,681
Lu Thai Textile Co. Ltd. Class B	44,743	27,022
Lucky Harvest Co. Ltd. Class A	22,000	123,320
Luolai Lifestyle Technology Co. Ltd. Class A	88,300	136,103
Luoniushan Co. Ltd. Class A	1,500	1,178
Luoxin Pharmaceuticals Group Stock Co. Ltd. Class A (b)	12,300	9,437
Luoyang Xinqianglian Slewing Bearing Co. Ltd. Class A	30,400	129,390
Lushang Freda Pharmaceutical Co. Ltd. Class A (b)	70,300	85,876
Luyang Energy-Saving Materials Co. Ltd.	200	436
Luye Pharma Group Ltd. (b)(c)(d)	1,820,221	815,768
LVGEM China Real Estate Investment Co. Ltd. (b)(c)	1,428,000	227,915
Mabwell Shanghai Bioscience Co. Ltd. Class A (b)	45,476	153,985
Maccura Biotechnology Co. Ltd. Class A	31,900	65,808

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Macmic Science & Technology Co. Ltd. Class A	15,927	$ 115,423
Malion New Materials Co. Ltd. Class A (b)	77,000	106,320
Maoyan Entertainment (b)(c)(d)	362,396	538,607
Maoye Commercial Co. Ltd. Class A	228,500	120,746
Marssenger Kitchenware Co. Ltd. Class A	49,200	131,412
Maxvision Technology Corp. Class A	23,700	100,450
Mayinglong Pharmaceutical Group Co. Ltd. Class A	16,700	52,834
Medlive Technology Co. Ltd. (c)(d)	136,500	137,862
Mega-info Media Co. Ltd. Class A	41,100	113,387
Meitu, Inc. (c)(d)	1,966,598	878,859
M-Grass Ecology & Environment Group Co. Ltd. Class A	22,000	12,018
Microport Cardioflow Medtech Corp. (b)(c)(d)	535,000	114,079
MicroPort NeuroTech Ltd. (b)(c)	47,000	73,094
Micro-Tech Nanjing Co. Ltd. Class A	13,715	143,988
Midea Real Estate Holding Ltd. (c)(d)	359,600	281,000
Milkyway Chemical Supply Chain Service Co. Ltd. Class A	16,170	164,258
Ming Yuan Cloud Group Holdings Ltd. (b)(c)	958,000	419,561
Mingchen Health Co. Ltd. Class A (b)	24,750	104,833
Minmetals Development Co. Ltd. Class A (b)	111,400	144,950
MLS Co. Ltd. Class A	137,900	169,400
Mobvista, Inc. (b)(c)(d)	325,399	130,877
Monalisa Group Co. Ltd. Class A	23,800	54,847
Montnets Cloud Technology Group Co. Ltd. Class A (b)	49,300	98,793
Moon Environment Technology Co. Ltd. Class A	35,800	72,772
Morimatsu International Holdings Co. Ltd. (b)(c)	412,000	301,431
Mubang High-Tech Co. Ltd. Class A (b)	38,600	104,265
NanJi E-Commerce Co. Ltd. Class A (b)	163,000	79,870
Nanjing Chervon Auto Precision Technology Co. Ltd. Class A (b)	62,800	118,691
Nanjing Cosmos Chemical Co. Ltd. Class A	13,200	125,011

Security Description	Shares	Value
Nanjing Develop Advanced Manufacturing Co. Ltd. Class A	32,580	$ 141,218
Nanjing Gaoke Co. Ltd. Class A	37,700	32,961
Nanjing Hanrui Cobalt Co. Ltd. Class A	39,800	162,461
Nanjing Vazyme Biotech Co. Ltd. Class A	37,245	147,482
Nantong Jiangshan Agrochemical & Chemical LLC Class A	44,395	126,438
Nanya New Material Technology Co. Ltd. Class A	34,523	111,164
Nayuki Holdings Ltd. (b)(c)	490,000	258,394
NetDragon Websoft Holdings Ltd.	238,000	440,029
Neusoft Corp. Class A (b)	140,300	188,139
New Guomai Digital Culture Co. Ltd. Class A (b)	94,500	133,726
New Hope Dairy Co. Ltd. Class A	44,500	87,830
New Horizon Health Ltd. (b)(c)(d)	184,500	442,884
New Journey Health Technology Group Co. Ltd. Class A (b)	260,400	124,021
Newborn Town, Inc. (b)	179,315	47,165
Ningbo Boway Alloy Material Co. Ltd. Class A	61,600	128,091
Ningbo Dechang Electrical Machinery Made Co. Ltd. Class A	48,300	117,767
Ningbo Huaxiang Electronic Co. Ltd. Class A	40,700	79,660
Ningbo Peacebird Fashion Co. Ltd. Class A	19,900	51,049
Ningbo Yongxin Optics Co. Ltd. Class A	10,900	129,934
Ningbo Yunsheng Co. Ltd. Class A	152,700	150,064
Ningbo Zhenyu Technology Co. Ltd. Class A	900	7,743
Ningxia Western Venture Industrial Co. Ltd. Class A (b)	185,900	117,116
Ningxia Zhongke Biotechnology Co. Ltd. Class A (b)	207,500	109,079
Ningxia Zhongyin Cashmere Co. Ltd. Class A (b)	226,500	50,363
Niu Technologies ADR (b)	16,578	46,916
NKY Medical Holdings Ltd. Class A	2,800	7,694
Noah Holdings Ltd. ADR	51,366	640,534
North China Pharmaceutical Co. Ltd. Class A (b)	189,700	147,370
North Copper Co. Ltd. Class A (b)	79,800	60,789

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
North Huajin Chemical Industries Co. Ltd. Class A	79,000	$ 63,866
Northking Information Technology Co. Ltd. Class A	45,808	118,642
Novogene Co. Ltd. Class A	39,358	122,086
Novoray Corp. Class A	19,342	114,102
NSFOCUS Technologies Group Co. Ltd. Class A	47,700	64,685
Nuode New Materials Co. Ltd. Class A	217,600	181,290
NYOCOR Co. Ltd. Class A (b)	168,800	152,912
Obio Technology Shanghai Corp. Ltd. Class A (b)	90,500	117,880
Ocean's King Lighting Science & Technology Co. Ltd. Class A	47,600	54,684
Ocumension Therapeutics (b)(c)(d)	148,564	145,114
OK Science & Technology Co. Ltd. Class A (b)	3,000	32,060
Olympic Circuit Technology Co. Ltd. Class A	26,670	62,266
Opple Lighting Co. Ltd. Class A	16,200	46,605
ORG Technology Co. Ltd. Class A	115,500	73,874
Orient Group, Inc. Class A (b)	247,300	75,353
PCI Technology Group Co. Ltd. Class A (b)	137,400	106,740
Peijia Medical Ltd. (b)(c)(d)	456,000	406,402
Pengdu Agriculture & Animal Husbandry Co. Ltd. Class A (b)	613,600	146,541
Pengxin International Mining Co. Ltd. Class A (b)	271,800	118,259
PharmaBlock Sciences Nanjing, Inc. Class A	20,400	126,727
PhiChem Corp. Class A	26,100	57,353
PNC Process Systems Co. Ltd. Class A	36,400	136,142
POCO Holding Co. Ltd. Class A	11,160	69,925
Poly Property Group Co. Ltd.	2,754,000	625,921
Poly Union Chemical Holding Group Co. Ltd. Class A (b)	92,100	114,276
Pony Testing International Group Co. Ltd. Class A	20,330	58,068
Powerlong Commercial Management Holdings Ltd.	49,500	20,225
Powerwin Tech Group Ltd. (b)	228,000	160,115
Primarius Technologies Co. Ltd. Class A	32,422	112,186
Pulike Biological Engineering, Inc. Class A	42,600	124,600
Puya Semiconductor Shanghai Co. Ltd. Class A (b)	8,584	113,342
Puyang Huicheng Electronic Material Co. Ltd. Class A	52,700	130,127

Security Description	Shares	Value
Q Technology Group Co. Ltd. (b)(c)	222,137	$ 91,046
Qinchuan Machine Tool & Tool Group Share Co. Ltd. Class A (b)	74,300	129,311
Qingdao Ainnovation Technology Group Co. Ltd. Class H (b)(c)(d)	158,300	242,548
Qingdao Baheal Pharmaceutical Co. Ltd. Class A	38,900	127,874
Qingdao Citymedia Co. Ltd. Class A	117,100	118,293
Qingdao East Steel Tower Stock Co. Ltd. Class A	53,600	53,778
Qingdao Eastsoft Communication Technology Co. Ltd. Class A	21,200	44,520
Qingdao Gon Technology Co. Ltd. Class A	16,500	48,555
Qingdao Haier Biomedical Co. Ltd. Class A	28,697	150,816
Qingdao Hiron Commercial Cold Chain Co. Ltd. Class A	1,680	3,842
Qingdao NovelBeam Technology Co. Ltd. Class A	17,474	136,708
Qingdao Tianneng Heavy Industries Co. Ltd. Class A	9,900	9,824
Qingdao Yunlu Advanced Materials Technology Co. Ltd. Class A	11,871	121,565
Qingdao Zhongzi Zhongcheng Group Co. Ltd. Class A (b)	117,600	126,062
Qinghai Huzhu TianYouDe Highland Barley Spirit Co. Ltd. Class A	25,600	50,176
Qinghai Spring Medicinal Resources Technology Co. Ltd. Class A (b)	106,600	116,611
QuakeSafe Technologies Co. Ltd. Class A	50,700	139,037
QuantumCTek Co. Ltd. Class A (b)	7,311	136,471
Qudian, Inc. ADR (b)	156,379	331,523
Quechen Silicon Chemical Co. Ltd. Class A	71,200	153,526
Quectel Wireless Solutions Co. Ltd. Class A	24,800	155,422
R&G PharmaStudies Co. Ltd. Class A	14,200	138,770
Rainbow Digital Commercial Co. Ltd. Class A	44,900	35,004
Realcan Pharmaceutical Group Co. Ltd. Class A (b)	255,000	123,549
Redco Properties Group Ltd. (b)(c)(d)(e)	552,000	70,305
Renhe Pharmacy Co. Ltd. Class A	61,800	60,649
Rianlon Corp. Class A	9,300	43,285

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Richinfo Technology Co. Ltd. Class A	38,200	$ 108,637
Rigol Technologies Co. Ltd. Class A	17,761	122,352
RiseSun Real Estate Development Co. Ltd. Class A (b)	276,800	77,504
Rising Nonferrous Metals Share Co. Ltd. Class A (b)	30,000	141,482
RoboTechnik Intelligent Technology Co. Ltd. Class A	12,800	143,851
Rongan Property Co. Ltd. Class A	295,200	115,880
RongFa Nuclear Equipment Co. Ltd. Class A (b)	143,700	109,662
Roshow Technology Co. Ltd. Class A (b)	198,100	187,883
Ruida Futures Co. Ltd. Class A	600	1,291
Runjian Co. Ltd. Class A	9,400	48,189
Sanbo Hospital Management Group Ltd. Class A (b)	13,200	119,413
SanFeng Intelligent Equipment Group Co. Ltd. Class A (b)	268,300	143,619
Sanhe Tongfei Refrigeration Co. Ltd. Class A	20,000	117,819
Sanjiang Shopping Club Co. Ltd. Class A	67,300	110,477
Sansure Biotech, Inc. Class A	52,737	120,664
SCE Intelligent Commercial Management Holdings Ltd. (b)	366,000	48,134
SciClone Pharmaceuticals Holdings Ltd. (c)(d)	235,480	300,369
Seazen Group Ltd. (b)	2,126,000	388,182
Semitronix Corp. Class A	14,700	160,120
Shaanxi Heimao Coking Co. Ltd. Class A	109,200	70,894
Shaanxi Lighte Optoelectronics Material Co. Ltd. Class A	48,386	109,048
Shaanxi Sirui Advanced Materials Co. Ltd. Class A	73,612	121,849
Shandong Bohui Paper Industrial Co. Ltd. Class A	42,500	38,325
Shandong Chenming Paper Holdings Ltd. Class A (b)	15,400	9,681
Shandong Chenming Paper Holdings Ltd. Class B (b)	419,600	92,687
Shandong Chenming Paper Holdings Ltd. Class H (b)	296,000	86,927
Shandong Dawn Polymer Co. Ltd. Class A	4,100	7,625
Shandong Denghai Seeds Co. Ltd. Class A (b)	95,800	187,110
Shandong Dongyue Organosilicon Material Co. Ltd. Class A	136,600	168,178
Shandong Hi-Speed New Energy Group Ltd. (b)	167,000	58,426

Security Description	Shares	Value
Shandong Hi-Speed Road & Bridge Co. Ltd. Class A	93,600	$ 84,148
Shandong Humon Smelting Co. Ltd. Class A (b)	48,700	81,013
Shandong Intco Recycling Resources Co. Ltd. Class A	37,534	127,814
Shandong Jincheng Pharmaceutical Group Co. Ltd. Class A	9,700	25,096
Shandong Jinjing Science & Technology Co. Ltd. Class A	134,900	134,608
Shandong Kaisheng New Materials Co. Ltd. Class A	44,100	128,382
Shandong Longda Meishi Co. Ltd. Class A (b)	128,300	132,073
Shandong Molong Petroleum Machinery Co. Ltd. Class A (b)	180,500	110,742
Shandong Sanyuan Biotechnology Co. Ltd. Class A	36,600	147,440
Shandong Sinobioway Biomedicine Co. Ltd. Class A (b)	64,000	148,718
Shandong WIT Dyne Health Co. Ltd. Class A	8,600	38,174
Shandong Xiantan Co. Ltd. Class A	35,100	39,408
Shandong Xinhua Pharmaceutical Co. Ltd. Class A	49,410	136,516
Shandong Xinhua Pharmaceutical Co. Ltd. Class H	90,000	62,859
Shandong Yabo Technology Co. Ltd. Class A (b)	330,700	119,830
Shandong Yisheng Livestock & Poultry Breeding Co. Ltd. Class A (b)	65,300	100,651
Shandong Yulong Gold Co. Ltd. Class A	91,300	126,692
Shanghai Acrel Co. Ltd. Class A	30,600	113,063
Shanghai Aerospace Automobile Electromechanical Co. Ltd. Class A (b)	162,600	171,622
Shanghai AJ Group Co. Ltd. Class A	89,100	65,549
Shanghai Allist Pharmaceuticals Co. Ltd. Class A (b)	36,003	193,017
Shanghai Aohua Photoelectricity Endoscope Co. Ltd. Class A (b)	15,988	131,972
Shanghai AtHub Co. Ltd. Class A	25,200	71,217
Shanghai Baolong Automotive Corp. Class A	21,400	184,488

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Shanghai Baosteel Packaging Co. Ltd. Class A	167,800	$ 135,424
Shanghai Bolex Foods Technology Co. Ltd. Class A	42,300	114,724
Shanghai Bright Power Semiconductor Co. Ltd. Class A (b)	3,496	51,597
Shanghai Chicmax Cosmetic Co. Ltd.	29,000	94,792
Shanghai Chinafortune Co. Ltd. Class A	83,300	131,254
Shanghai Chlor-Alkali Chemical Co. Ltd. Class B	319,900	156,111
Shanghai Dazhong Public Utilities Group Co. Ltd. Class A	651,600	292,452
Shanghai Electric Wind Power Group Co. Ltd. Class A (b)	301,025	210,303
Shanghai Feilo Acoustics Co. Ltd. Class A (b)	281,300	135,134
Shanghai Fengyuzhu Culture & Technology Co. Ltd. Class A	44,737	72,333
Shanghai Film Co. Ltd. Class A (b)	41,000	122,340
Shanghai Foreign Service Holding Group Co. Ltd. Class A	234,100	175,758
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co. Ltd. Class A	4,210	5,986
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co. Ltd. Class H	101,000	33,143
Shanghai Fullhan Microelectronics Co. Ltd. Class A	19,800	130,120
Shanghai Ganglian E-Commerce Holdings Co. Ltd. Class A	25,500	104,299
Shanghai Gentech Co. Ltd. Class A (b)	22,956	117,525
Shanghai Guijiu Co. Ltd. Class A (b)	39,800	126,025
Shanghai Haixin Group Co. Class B	389,108	117,900
Shanghai Hanbell Precise Machinery Co. Ltd. Class A	45,100	153,764
Shanghai Haohai Biological Technology Co. Ltd. Class A	8,760	136,082
Shanghai Haohai Biological Technology Co. Ltd. Class H (c)(d)	43,900	254,201
Shanghai Haoyuan Chemexpress Co. Ltd. Class A	17,473	132,767
Shanghai Henlius Biotech, Inc. Class H (b)(d)	77,400	102,780
Shanghai Hiuv New Materials Co. Ltd. Class A	11,177	113,676

Security Description	Shares	Value
Shanghai Holystar Electrical Technology Co. Ltd. Class A	33,810	$ 147,802
Shanghai Huafon Aluminium Corp. Class A	66,600	139,859
Shanghai Huayi Group Co. Ltd. Class A	278,400	248,757
Shanghai Industrial Development Co. Ltd. Class A	208,400	111,841
Shanghai Industrial Holdings Ltd.	475,062	596,872
Shanghai Jin Jiang Online Network Service Co. Ltd. Class B	87,700	44,990
Shanghai Jinjiang International Travel Co. Ltd. Class B	73,900	107,820
Shanghai Jinqiao Export Processing Zone Development Co. Ltd. Class A	109,000	181,324
Shanghai Jinqiao Export Processing Zone Development Co. Ltd. Class B	84,100	74,849
Shanghai Kaibao Pharmaceutical Co. Ltd. Class A	45,200	42,621
Shanghai Kehua Bio-Engineering Co. Ltd. Class A	99,600	123,035
Shanghai Liangxin Electrical Co. Ltd. Class A	112,400	172,632
Shanghai Lily & Beauty Cosmetics Co. Ltd. Class A (b)	31,000	45,442
Shanghai Mechanical & Electrical Industry Co. Ltd. Class B	143,700	144,275
Shanghai Medicilon, Inc. Class A	12,363	129,030
Shanghai MicroPort Endovascular MedTech Group Co. Ltd. Class A	4,580	116,534
Shanghai Milkground Food Tech Co. Ltd. Class A (b)	58,100	138,836
Shanghai New Power Automotive Technology Co. Ltd. Class A (b)	293,900	237,597
Shanghai Pret Composites Co. Ltd. Class A	94,000	165,402
Shanghai Pudong Construction Co. Ltd. Class A	107,125	102,188
Shanghai QiFan Cable Co. Ltd. Class A	12,700	31,254
Shanghai Runda Medical Technology Co. Ltd. Class A	32,300	65,879
Shanghai Sanyou Medical Co. Ltd. Class A	42,069	131,304

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Shanghai Shibei Hi-Tech Co. Ltd. Class B	472,800	$ 82,740
Shanghai Sinyang Semiconductor Materials Co. Ltd. Class A	16,000	79,915
Shanghai SMI Holding Co. Ltd. Class A	242,500	144,453
Shanghai Taisheng Wind Power Equipment Co. Ltd. Class A	104,400	134,696
Shanghai Tianchen Co. Ltd. Class A	81,200	135,970
Shanghai Titan Scientific Co. Ltd. Class A	15,037	108,973
Shanghai Tongji Science & Technology Industrial Co. Ltd. Class A (b)	41,000	55,318
Shanghai Waigaoqiao Free Trade Zone Group Co. Ltd. Class A	205,900	336,019
Shanghai Waigaoqiao Free Trade Zone Group Co. Ltd. Class B	85,400	62,257
Shanghai Yaoji Technology Co. Ltd. Class A	30,700	113,349
Shanghai Yizhong Pharmaceutical Co. Ltd. Class A	14,915	120,577
Shanghai Zijiang Enterprise Group Co. Ltd. Class A	86,300	63,608
Shannon Semiconductor Technology Co. Ltd. Class A	31,400	129,552
Shantou Wanshun New Material Group Co. Ltd. Class A	126,200	112,763
Shantui Construction Machinery Co. Ltd. Class A	58,600	38,607
Shanxi Blue Flame Holding Co. Ltd. Class A	64,600	70,490
Shanxi Zhendong Pharmaceutical Co. Ltd. Class A (b)	65,100	54,952
Shanying International Holding Co. Ltd. Class A (b)	291,700	86,080
Shengda Resources Co. Ltd. Class A (b)	36,300	71,795
Shengyi Electronics Co. Ltd. Class A	88,580	133,616
Shenzhen Agricultural Products Group Co. Ltd. Class A	82,800	78,302
Shenzhen Aisidi Co. Ltd. Class A	52,900	54,093
Shenzhen Baoming Technology Co. Ltd. Class A (b)	13,100	111,802
Shenzhen Bauing Construction Holding Group Co. Ltd. Class A (b)	309,200	120,951
Shenzhen Bioeasy Biotechnology Co. Ltd. Class A	16,100	27,468

Security Description	Shares	Value
Shenzhen Center Power Tech Co. Ltd. Class A	22,800	$ 44,938
Shenzhen Centralcon Investment Holding Co. Ltd. Class A	119,700	109,748
Shenzhen Cereals Holdings Co. Ltd. Class A	93,165	93,347
Shenzhen Changhong Technology Co. Ltd. Class A	34,400	68,132
Shenzhen Chipscreen Biosciences Co. Ltd. Class A (b)	44,474	141,496
Shenzhen Click Technology Co. Ltd. Class A	25,400	41,347
Shenzhen Clou Electronics Co. Ltd. Class A (b)	155,200	118,651
Shenzhen Colibri Technologies Co. Ltd. Class A	12,000	27,176
Shenzhen Das Intellitech Co. Ltd. Class A	86,093	38,168
Shenzhen Deren Electronic Co. Ltd. Class A (b)	62,000	78,800
Shenzhen Desay Battery Technology Co. Class A	31,900	137,000
Shenzhen Everwin Precision Technology Co. Ltd. Class A (b)	107,000	151,855
Shenzhen Fenda Technology Co. Ltd. Class A (b)	180,600	120,470
Shenzhen Fine Made Electronics Group Co. Ltd. Class A (b)	12,900	59,102
Shenzhen FRD Science & Technology Co. Ltd. Class A (b)	33,800	88,469
Shenzhen Fuanna Bedding & Furnishing Co. Ltd. Class A	105,500	128,006
Shenzhen Gongjin Electronics Co. Ltd. Class A	14,900	23,989
Shenzhen H&T Intelligent Control Co. Ltd. Class A	98,000	191,810
Shenzhen Hello Tech Energy Co. Ltd. Class A	14,300	129,521
Shenzhen Hemei Group Co. Ltd. Class A (b)	172,500	112,226
Shenzhen Heungkong Holding Co. Ltd. Class A	425,000	119,583
Shenzhen Honor Electronic Co. Ltd. Class A	17,600	113,585
Shenzhen Hopewind Electric Co. Ltd. Class A	39,800	125,752
Shenzhen Huaqiang Industry Co. Ltd. Class A	121,200	186,481
Shenzhen Infinova Ltd. Class A (b)	104,200	126,286
Shenzhen Infogem Technologies Co. Ltd. Class A (b)	56,600	99,127
Shenzhen Investment Ltd.	2,874,000	458,704

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Shenzhen Jinjia Group Co. Ltd. Class A	175,800	$ 146,224
Shenzhen JPT Opto-Electronics Co. Ltd. Class A	11,744	120,265
Shenzhen Kingdom Sci-Tech Co. Ltd. Class A	61,800	107,556
Shenzhen Kingkey Smart Agriculture Times Co. Ltd. Class A	21,800	63,374
Shenzhen Leaguer Co. Ltd. Class A	87,900	102,911
Shenzhen Lifotronic Technology Co. Ltd. Class A	46,765	137,488
Shenzhen Microgate Technology Co. Ltd. Class A	54,200	67,101
Shenzhen MinDe Electronics Technology Ltd. Class A	35,800	125,938
Shenzhen Minglida Precision Technology Co. Ltd. Class A	32,800	126,009
Shenzhen Neptunus Bioengineering Co. Ltd. Class A (b)	109,295	45,754
Shenzhen New Nanshan Holding Group Co. Ltd. Class A	240,000	106,399
Shenzhen Pagoda Industrial Group Corp. Ltd. (c)	680,000	482,747
Shenzhen Qingyi Photomask Ltd. Class A	39,270	113,890
Shenzhen Rongda Photosensitive & Technology Co. Ltd. Class A	17,400	106,634
Shenzhen Shengxunda Technology Co. Ltd. Class A	45,800	114,598
Shenzhen Sinexcel Electric Co. Ltd. Class A	27,400	114,779
Shenzhen Special Economic Zone Real Estate & Properties Group Co. Ltd. Class A	74,200	121,804
Shenzhen Sunline Tech Co. Ltd. Class A	41,500	56,334
Shenzhen Sunmoon Microelectronics Co. Ltd. Class A	6,503	35,863
Shenzhen Sunnypol Optoelectronics Co. Ltd. Class A	100	418
Shenzhen Suntak Circuit Technology Co. Ltd. Class A	53,500	83,050
Shenzhen Tagen Group Co. Ltd. Class A	164,700	136,991
Shenzhen Techwinsemi Technology Co. Ltd. Class A	10,800	111,710
Shenzhen Topband Co. Ltd. Class A	114,200	166,776
Shenzhen Topway Video Communication Co. Ltd. Class A	131,500	118,581

Security Description	Shares	Value
Shenzhen United Winners Laser Co. Ltd. Class A	35,186	$ 115,230
Shenzhen Weiguang Biological Products Co. Ltd. Class A (b)	25,500	124,914
Shenzhen Woer Heat-Shrinkable Material Co. Ltd. Class A	62,200	59,590
Shenzhen World Union Group, Inc. Class A (b)	119,800	44,396
Shenzhen Xinyichang Technology Co. Ltd. Class A	9,662	108,346
Shenzhen Yan Tian Port Holding Co. Ltd. Class A	171,600	118,471
Shenzhen YHLO Biotech Co. Ltd. Class A	51,322	134,896
Shenzhen Ysstech Info-tech Co. Ltd. Class A	54,300	63,648
Shenzhen Zhaowei Machinery & Electronic Co. Ltd. Class A	9,000	90,707
Shijiazhuang Changshan BeiMing Technology Co. Ltd. Class A (b)	90,600	107,813
Shinghwa Advanced Material Group Co. Ltd. Class A	23,200	165,743
Shinva Medical Instrument Co. Ltd. Class A	35,500	124,883
Shoucheng Holdings Ltd. (c)	2,862,895	588,528
Shougang Fushan Resources Group Ltd.	3,203,718	1,088,107
Shouhang High-Tech Energy Co. Ltd. Class A (b)	93,900	36,860
Shui On Land Ltd.	1,381,500	125,241
Shunfa Hengye Corp. Class A	344,200	131,808
ShuYu Civilian Pharmacy Corp. Ltd. Class A	10,300	27,652
Sichuan Anning Iron & Titanium Co. Ltd. Class A	25,000	116,426
Sichuan Chengfei Integration Technology Corp. Class A	24,100	65,230
Sichuan EM Technology Co. Ltd. Class A	81,700	130,303
Sichuan Expressway Co. Ltd. Class A	504,910	284,827
Sichuan Expressway Co. Ltd. Class H	400,000	127,173
Sichuan Furong Technology Co. Ltd. Class A	21,320	35,993
Sichuan Haite High-tech Co. Ltd. Class A (b)	32,700	40,439
Sichuan Jiuyuan Yinhai Software Co. Ltd. Class A	27,400	100,488
Sichuan Jiuzhou Electric Co. Ltd. Class A	45,200	48,887
Sichuan Lutianhua Co. Ltd. Class A (b)	62,600	36,946
Siglent Technologies Co. Ltd. Class A	17,464	119,275

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Sihuan Pharmaceutical Holdings Group Ltd. (c)	5,141,000	$ 400,418
Sineng Electric Co. Ltd. Class A	29,400	121,664
Sino GeoPhysical Co. Ltd. Class A	12,200	29,873
Sinocare, Inc. Class A	44,200	155,670
Sinofert Holdings Ltd. (c)	1,382,000	162,342
Sinomach Automobile Co. Ltd. Class A	126,000	124,690
Sino-Ocean Group Holding Ltd. (b)(c)	633,947	36,830
Sinopec Engineering Group Co. Ltd. Class H	1,442,000	649,943
Sinopec Kantons Holdings Ltd.	1,098,000	441,620
Sino-Platinum Metals Co. Ltd. Class A	34,840	71,729
Sinoseal Holding Co. Ltd. Class A	15,500	87,799
Sinosteel Engineering & Technology Co. Ltd. Class A	58,300	64,896
Sinosteel Luonai Materials Technology Co. Ltd. Class A	190,208	134,189
Sinosteel New Materials Co. Ltd. Class A	30,200	36,518
Sinovac Biotech Ltd. (b)	67,578	437,230
Sipai Health Technology Co. Ltd. (b)(c)	236,400	226,383
Snowsky Salt Industry Group Co. Ltd. Class A	143,400	129,903
Sobute New Materials Co. Ltd. Class A	300	495
SOHO China Ltd. (b)	1,371,500	161,109
Sohu.com Ltd. ADR (b)	14,865	140,028
South Manganese Investment Ltd. (b)(c)(e)	912,139	43,238
SSAW Hotels & Resorts Group Co. Class A	23,500	96,926
Staidson Beijing Biopharmaceuticals Co. Ltd. Class A (b)	93,500	129,616
Star Lake Bioscience Co., Inc. Class A (b)	166,000	119,617
Sumavision Technologies Co. Ltd. Class A	62,900	51,368
Sun King Technology Group Ltd. (b)	265,018	52,788
Sunac Services Holdings Ltd. (c)(d)	973,000	306,864
Sunflower Pharmaceutical Group Co. Ltd. Class A	37,100	127,252
Sunfly Intelligent Technology Co. Ltd. Class A	100,600	119,990
Suning Universal Co. Ltd. Class A	201,000	77,798
Sunjuice Holdings Co. Ltd.	13,917	116,835

Security Description	Shares	Value
Sunshine Guojian Pharmaceutical Shanghai Co. Ltd. Class A (b)	46,298	$ 137,386
Sunstone Development Co. Ltd. Class A	51,000	125,649
Sunward Intelligent Equipment Co. Ltd. Class A (b)	177,425	148,062
Suplet Power Co. Ltd. Class A	55,700	139,752
Suwen Electric Energy Technology Co. Ltd. Class A	8,760	39,317
Suzhou Anjie Technology Co. Ltd. Class A	56,100	104,950
Suzhou Douson Drilling & Production Equipment Co. Ltd. Class A (b)	26,100	118,145
Suzhou Everbright Photonics Co. Ltd. Class A	13,695	122,763
Suzhou Gold Mantis Construction Decoration Co. Ltd. Class A	160,200	99,826
Suzhou Good-Ark Electronics Co. Ltd. Class A	47,900	77,184
Suzhou Harmontronics Automation Technology Co. Ltd. Class A	26,672	102,760
Suzhou Huaya Intelligence Technology Co. Ltd. Class A	17,200	124,200
Suzhou HYC Technology Co. Ltd. Class A	29,291	125,434
Suzhou Oriental Semiconductor Co. Ltd. Class A	8,780	109,531
Suzhou Recodeal Interconnect System Co. Ltd. Class A	20,659	110,954
Suzhou Secote Precision Electronic Co. Ltd. Class A	14,100	91,171
Suzhou SLAC Precision Equipment Co. Ltd. Class A	80,900	117,590
Suzhou Sonavox Electronics Co. Ltd. Class A	22,030	121,735
Suzhou Sushi Testing Group Co. Ltd. Class A	59,100	135,466
Suzhou TZTEK Technology Co. Ltd. Class A	22,495	119,951
Suzhou UIGreen Micro&Nano Technologies Co. Ltd. Class A	15,936	108,292
Suzhou Victory Precision Manufacture Co. Ltd. Class A (b)	423,600	137,212
Suzhou Weizhixiang Food Co. Ltd. Class A	7,176	38,964
Suzhou Zelgen Biopharmaceutical Co. Ltd. Class A (b)	24,186	154,794
SVG Optronics Co. Ltd. Class A (b)	34,900	128,664
SY Holdings Group Ltd. (c)	171,639	111,331
SYoung Group Co. Ltd. Class A	46,400	123,933

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Tangrenshen Group Co. Ltd. Class A	54,300	$ 47,475
Tangshan Sanyou Chemical Industries Co. Ltd. Class A	232,700	189,079
Tangshan Sunfar Silicon Industry Co. Ltd. Class A	45,476	115,972
TCL Electronics Holdings Ltd. (b)(c)	941,988	366,844
TDG Holdings Co. Ltd. Class A	121,400	157,629
Tech-Bank Food Co. Ltd. Class A (b)	5,800	3,328
Telling Telecommunication Holding Co. Ltd. Class A	61,100	71,031
Three Squirrels, Inc. Class A	25,800	63,387
Three's Co. Media Group Co. Ltd. Class A	9,361	87,073
Tian Lun Gas Holdings Ltd.	98,765	48,929
Tiangong International Co. Ltd. (c)	1,436,000	467,552
Tianjin Capital Environmental Protection Group Co. Ltd. Class A	133,670	106,962
Tianjin Ringpu Bio-Technology Co. Ltd. Class A	28,200	70,754
Tianjin You Fa Steel Pipe Group Stock Co. Ltd. Class A	81,412	76,431
Tianli International Holdings Ltd.	882,667	285,137
Tianneng Power International Ltd. (c)	600,000	568,448
Tianrun Industry Technology Co. Ltd. Class A	70,500	66,671
Tianyu Digital Technology Dalian Group Co. Ltd. Class A (b)	154,300	112,245
Tibet Cheezheng Tibetan Medicine Co. Ltd. Class A	11,800	42,174
Tibet Rhodiola Pharmaceutical Holding Co. Class A	10,900	75,282
Tibet Urban Development & Investment Co. Ltd. Class A	87,500	141,955
Time Publishing & Media Co. Ltd. Class A	74,300	116,359
Times China Holdings Ltd. (b)(c)	582,000	32,326
Tinavi Medical Technologies Co. Ltd. Class A (b)	62,431	117,651
TKD Science & Technology Co. Ltd. Class A	23,100	49,398
Tong Ren Tang Technologies Co. Ltd. Class H	620,000	493,191
Tongdao Liepin Group (b)	56,400	50,410
Tongding Interconnection Information Co. Ltd. Class A (b)	52,700	44,702
Tongling Jingda Special Magnet Wire Co. Ltd. Class A	117,200	67,079

Security Description	Shares	Value
Tongqinglou Catering Co. Ltd. Class A	26,500	$ 121,156
Tongyu Heavy Industry Co. Ltd. Class A	134,600	47,110
Top Resource Energy Co. Ltd. Class A	48,400	64,305
Topsec Technologies Group, Inc. Class A (b)	76,200	93,711
Toread Holdings Group Co. Ltd. Class A (b)	133,900	145,556
TPV Technology Co. Ltd. Class A (b)	253,400	89,037
Triductor Technology Suzhou, Inc. Class A	11,488	129,296
Triumph New Energy Co. Ltd. Class A (b)	39,500	77,691
Triumph Science & Technology Co. Ltd. Class A	94,800	143,519
Truking Technology Ltd. Class A	34,100	58,926
Tunghsu Azure Renewable Energy Co. Ltd. Class A (b)	218,800	113,518
Tunghsu Optoelectronic Technology Co. Ltd. Class A (b)	843,600	221,154
Tuya, Inc. ADR (b)(c)	109,938	170,404
Unilumin Group Co. Ltd. Class A	48,540	50,967
Up Fintech Holding Ltd. ADR (b)(c)	77,106	394,783
UTour Group Co. Ltd. Class A (b)	106,400	113,180
Vantone Neo Development Group Co. Ltd. Class A (b)	197,500	138,520
Vats Liquor Chain Store Management JSC Ltd. Class A	40,000	114,799
Vcanbio Cell & Gene Engineering Corp. Ltd. Class A (b)	81,700	203,865
Visionox Technology, Inc. Class A (b)	101,000	107,158
Visual China Group Co. Ltd. Class A	44,900	92,379
Viva Biotech Holdings (b)(d)	14,551	2,341
Vnet Group, Inc. ADR (b)(c)	66,895	209,381
Wanbangde Pharmaceutical Holding Group Co. Ltd. Class A	132,700	127,495
Wangneng Environment Co. Ltd. Class A	26,200	56,314
Warom Technology, Inc. Co. Class A	46,500	139,135
Waterdrop, Inc. ADR (b)(c)	105,104	121,921
Wedge Industrial Co. Ltd. Class A	67,500	121,645
Weimob, Inc. (b)(c)(d)	1,775,000	768,305

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Wellhope Foods Co. Ltd. Class A	71,300	$ 86,608
Wencan Group Co. Ltd. Class A	23,300	130,735
West China Cement Ltd.	1,270,761	118,447
Western Metal Materials Co. Ltd. Class A	55,300	112,562
Western Region Gold Co. Ltd. Class A	34,200	62,948
Willfar Information Technology Co. Ltd. Class A	38,604	157,155
Winall Hi-Tech Seed Co. Ltd. Class A	50,400	68,692
Wondershare Technology Group Co. Ltd. Class A (b)	10,600	144,835
Wuhan Fingu Electronic Technology Co. Ltd. Class A	25,900	38,748
Wuhan Keqian Biology Co. Ltd. Class A	24,965	70,861
Wuhan LinControl Automotive Electronics Co. Ltd. Class A	11,918	129,064
Wuxi Boton Technology Co. Ltd. Class A (b)	30,300	75,441
Wuxi ETEK Microelectronics Co. Ltd. Class A	18,167	111,709
Wuxi NCE Power Co. Ltd. Class A	30,900	144,623
Wuxi Paike New Materials Technology Co. Ltd. Class A	10,300	135,971
Wuxi Rural Commercial Bank Co. Ltd. Class A	271,900	208,242
Wuxi Xinje Electric Co. Ltd. Class A	13,465	77,252
XD, Inc. (b)	241,600	438,047
XGD, Inc. Class A	31,200	105,559
Xiabuxiabu Catering Management China Holdings Co. Ltd. (d)	344,344	145,092
Xiamen Amoytop Biotech Co. Ltd. Class A	34,601	184,504
Xiamen Hongxin Electronics Technology Group, Inc. Class A (b)	45,900	118,439
Xiamen Intretech, Inc. Class A	77,600	195,658
Xiamen Kingdomway Group Co. Class A	38,100	94,600
Xi'an ChenXi Aviation Technology Corp. Ltd. Class A (b)	40,120	54,295
Xi'an Manareco New Materials Co. Ltd. Class A	23,364	106,370
Xi'an Sinofuse Electric Co. Ltd. Class A	4,100	63,787
Xiangtan Electrochemical Scientific Co. Ltd. Class A	77,200	115,921
Xilinmen Furniture Co. Ltd. Class A	31,400	91,669

Security Description	Shares	Value
Xingtong Shipping Co. Ltd. Class A	46,000	$ 102,598
Xinhua Winshare Publishing & Media Co. Ltd. Class A	20,200	37,623
Xinhua Winshare Publishing & Media Co. Ltd. Class H	329,522	259,600
Xinjiang Ba Yi Iron & Steel Co. Ltd. Class A (b)	209,400	119,563
Xinjiang Communications Construction Group Co. Ltd. Class A	41,100	111,243
Xinjiang Lixin Energy Co. Ltd. Class A	103,816	116,986
Xinjiang Xintai Natural Gas Co. Ltd. Class A	22,720	90,964
Xinjiang Xinxin Mining Industry Co. Ltd. Class H	483,724	54,352
Xinjiang Xuefeng Sci-Tech Group Co. Ltd. Class A	102,600	115,334
Xinxiang Chemical Fiber Co. Ltd. Class A (b)	494,700	217,958
Xinxiang Richful Lube Additive Co. Ltd. Class A	15,770	96,731
Xinyi Energy Holdings Ltd. (c)	1,602,000	341,597
Xinyu Iron & Steel Co. Ltd. Class A	267,100	150,308
Xinzhi Group Co. Ltd. Class A	13,500	29,313
Xiwang Foodstuffs Co. Ltd. Class A (b)	209,900	121,289
Xizi Clean Energy Equipment Manufacturing Co. Ltd. Class A	65,000	115,891
Xuan Wu Cloud Technology Holdings Ltd. (b)	200,500	50,433
YaGuang Technology Group Co. Ltd. Class A (b)	80,300	72,742
Yango Group Co. Ltd. Class A (b)	292,400	14,849
Yanlord Land Group Ltd. (b)	505,549	244,459
Yantai China Pet Foods Co. Ltd. Class A	21,900	70,488
Yantai Dongcheng Pharmaceutical Co. Ltd. Class A	42,500	97,008
YanTai Shuangta Food Co. Ltd. Class A (b)	11,800	7,045
Yantai Zhenghai Bio-tech Co. Ltd. Class A	9,400	41,260
Yantai Zhenghai Magnetic Material Co. Ltd. Class A	41,300	66,436
Yatsen Holding Ltd. ADR (b)	343,337	343,337
Yeahka Ltd. (b)(c)	156,221	295,214
Yechiu Metal Recycling China Ltd. Class A	322,800	121,398
YGSOFT, Inc. Class A	113,791	96,209
YH Entertainment Group (b)	159,000	119,983
Yibin Tianyuan Group Co. Ltd. Class A	244,050	187,583

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
YiChang HEC ChangJiang Pharmaceutical Co. Ltd. Class H (b)(c)(d)	209,800	$ 178,944
Yidu Tech, Inc. (b)(c)(d)	442,900	225,074
Yijiahe Technology Co. Ltd. Class A (b)	27,000	124,962
Yinbang Clad Material Co. Ltd. Class A (b)	140,700	126,491
Yixin Group Ltd. (d)	1,025,000	92,922
Yizumi Holdings Co. Ltd. Class A	44,380	114,213
Yonghe Medical Group Co. Ltd. Class H (b)	30,500	15,577
Yongjin Technology Group Co. Ltd.	39,900	112,431
Yotrio Group Co. Ltd. Class A	175,780	81,548
Youcare Pharmaceutical Group Co. Ltd. Class A	52,801	132,043
Youdao, Inc. ADR (b)	4,841	19,461
Youzu Interactive Co. Ltd. Class A (b)	49,900	80,407
Yuexiu Transport Infrastructure Ltd.	1,017,013	538,903
Yueyang Forest & Paper Co. Ltd. Class A	150,900	129,448
Yunkang Group Ltd.	93,000	145,582
Yunnan Energy Investment Co. Ltd. Class A	82,700	117,482
Yunnan Lincang Xinyuan Germanium Industrial Co. Ltd. Class A (b)	27,100	49,061
Yunnan Tourism Co. Ltd. Class A (b)	140,700	118,187
Yusys Technologies Co. Ltd. Class A	42,400	99,980
Zall Smart Commerce Group Ltd. (b)(c)	3,204,000	128,866
ZBOM Home Collection Co. Ltd. Class A	42,140	133,666
Zengame Technology Holding Ltd.	328,000	121,034
Zhe Jiang Li Zi Yuan Food Co. Ltd. Class A	23,270	50,655
Zhe Jiang Taihua New Material Co. Ltd. Class A	83,300	125,309
Zhejiang Akcome New Energy Technology Co. Ltd. Class A (b)	419,700	136,525
Zhejiang Ausun Pharmaceutical Co. Ltd. Class A	24,180	47,293
Zhejiang Chengchang Technology Co. Ltd. Class A	11,300	128,452
Zhejiang Communications Technology Co. Ltd. Class A	135,800	76,420
Zhejiang Conba Pharmaceutical Co. Ltd. Class A	214,200	166,109
ZheJiang Dali Technology Co. Ltd. Class A	32,500	53,529

Security Description	Shares	Value
Zhejiang Dun'An Artificial Environment Co. Ltd. Class A (b)	83,200	$ 126,985
Zhejiang Entive Smart Kitchen Appliance Co. Ltd. Class A	21,200	114,276
Zhejiang Garden Biopharmaceutical Co. Ltd. Class A	35,700	56,007
Zhejiang Gongdong Medical Technology Co. Ltd. Class A	16,900	129,086
Zhejiang Hailide New Material Co. Ltd. Class A	59,000	44,701
Zhejiang Hangmin Co. Ltd. Class A	119,000	123,153
Zhejiang Hechuan Technology Corp. Ltd. Class A	24,293	133,373
Zhejiang Hisoar Pharmaceutical Co. Ltd. Class A	79,100	93,369
Zhejiang Hisun Pharmaceutical Co. Ltd. Class A	107,500	161,713
Zhejiang Huace Film & Television Co. Ltd. Class A	111,500	88,303
Zhejiang Huakang Pharmaceutical Co. Ltd. Class A	40,260	138,091
Zhejiang Huamei Holding Co. Ltd. Class A (b)	167,200	108,778
Zhejiang Huangma Technology Co. Ltd. Class A (b)	111,594	170,322
Zhejiang Huatie Emergency Equipment Science & Technology Co. Ltd. Class A (b)	159,300	134,249
Zhejiang Huatong Meat Products Co. Ltd. Class A	60,800	120,336
Zhejiang Huge Leaf Co. Ltd. Class A (b)	361,900	140,076
Zhejiang Jiecang Linear Motion Technology Co. Ltd. Class A	3,200	7,787
Zhejiang Jiemei Electronic & Technology Co. Ltd. Class A	21,480	77,243
Zhejiang Jinggong Integration Technology Co. Ltd. Class A	48,100	112,827
Zhejiang Jingu Co. Ltd. Class A (b)	55,300	56,091
Zhejiang Jingxin Pharmaceutical Co. Ltd. Class A	39,960	68,339
Zhejiang KangLongDa Special Protection Technology Co. Ltd. Class A (b)	33,200	114,605
Zhejiang Lante Optics Co. Ltd. Class A (b)	51,654	125,417
Zhejiang Medicine Co. Ltd. Class A	128,600	197,160
Zhejiang Meida Industrial Co. Ltd. Class A	41,300	60,484

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Zhejiang Orient Financial Holdings Group Co. Ltd. Class A	222,700	$ 114,930
Zhejiang Orient Gene Biotech Co. Ltd. Class A	22,795	122,583
Zhejiang Qianjiang Motorcycle Co. Ltd. Class A	43,500	84,245
Zhejiang Rifa Precision Machinery Co. Ltd. Class A (b)	164,700	135,183
Zhejiang Runtu Co. Ltd. Class A	2,000	1,927
Zhejiang Shaoxing RuiFeng Rural Commercial Bank Co. Ltd. Class A	227,300	174,396
Zhejiang Shibao Co. Ltd. Class A (b)	30,500	70,915
Zhejiang Shouxiangu Pharmaceutical Co. Ltd. Class A	21,200	126,459
Zhejiang Southeast Space Frame Co. Ltd. Class A	55,700	44,647
Zhejiang Starry Pharmaceutical Co. Ltd. Class A	220	467
Zhejiang Sunriver Culture Tourism Co. Ltd. Class A (b)	112,500	115,654
Zhejiang Tiantie Industry Co. Ltd. Class A	142,700	123,197
Zhejiang Tianyu Pharmaceutical Co. Ltd. Class A (b)	23,800	72,487
Zhejiang Tony Electronic Co. Ltd. Class A	24,700	112,588
Zhejiang Unifull Industrial Fiber Co. Ltd. Class A (b)	140,925	110,639
Zhejiang Wanfeng Auto Wheel Co. Ltd. Class A	207,500	152,654
Zhejiang Wanliyang Co. Ltd. Class A (b)	104,600	123,756
Zhejiang Wanma Co. Ltd. Class A	51,600	75,285
Zhejiang Wansheng Co. Ltd. Class A	10,000	14,535
Zhejiang Weixing Industrial Development Co. Ltd. Class A	42,800	58,099
Zhejiang Xianju Pharmaceutical Co. Ltd. Class A	44,100	70,577
Zhejiang Yasha Decoration Co. Ltd. Class A	22,700	16,825
Zhejiang Yinlun Machinery Co. Ltd. Class A	39,000	101,117
Zhejiang Yonghe Refrigerant Co. Ltd. Class A	30,400	112,992
Zhejiang Yongtai Technology Co. Ltd. Class A	91,100	160,049
Zhende Medical Co. Ltd. Class A	33,600	125,024
Zhengzhou GL Tech Co. Ltd. Class A (b)	39,600	116,641

Security Description	Shares	Value
Zhenjiang Dongfang Electric Heating Technology Co. Ltd. Class A	169,800	$ 130,978
Zhewen Interactive Group Co. Ltd. Class A (b)	148,100	110,987
Zhihu, Inc. ADR (b)(c)	319,563	332,346
Zhixin Group Holding Ltd. (b)	284,000	138,884
Zhonghong Pulin Medical Products Co. Ltd. Class A	18,590	38,860
Zhongnongfa Seed Industry Group Co. Ltd. Class A (b)	101,000	114,228
Zhongshan Public Utilities Group Co. Ltd. Class A	79,300	81,741
Zhongtian Financial Group Co. Ltd. Class A (b)	493,900	27,116
Zhongyin Babi Food Co. Ltd. Class A	41,100	127,434
Zhou Hei Ya International Holdings Co. Ltd. (b)(c)(d)	1,101,000	380,971
Zhuhai Bojay Electronics Co. Ltd. Class A (b)	24,100	115,079
Zhuhai Enpower Electric Co. Ltd. Class A	48,700	114,168
Zhuzhou Huarui Precision Cutting Tools Co. Ltd. Class A	9,279	116,851
Zhuzhou Smelter Group Co. Ltd. Class A (b)	100,600	110,738
ZJMI Environmental Energy Co. Ltd. Class A	17,500	37,014
Zonqing Environmental Ltd. (b)	68,000	227,915
Zylox-Tonbridge Medical Technology Co. Ltd. (b)(d)	36,000	36,037
		175,852,492
COLOMBIA — 0.1%
Cementos Argos SA	274,262	332,832
Corp. Financiera Colombiana SA	61,873	210,272
Geopark Ltd. (c)	35,366	363,563
		906,667
CZECH REPUBLIC — 0.2%
Colt CZ Group SE	4,264	103,245
Moneta Money Bank AS (d)	251,684	916,846
Philip Morris CR AS	739	551,262
		1,571,353
EGYPT — 0.4%
Abou Kir Fertilizers & Chemical Industries	192,536	417,473
Cairo Investment & Real Estate Development Co. SAE	28,652	9,495
Cleopatra Hospital (b)	27,023	3,393
Credit Agricole Egypt SAE (b)	268,457	134,663
Eastern Co. SAE	685,853	534,477
EFG Holding S.A.E. (b)	854,553	407,918
E-Finance for Digital & Financial Investments	314,643	188,684

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Egypt Kuwait Holding Co. SAE	125,099	$ 161,535
ElSewedy Electric Co.	332,633	253,296
Ezz Steel Co. SAE (b)	112,111	194,181
Fawry for Banking & Payment Technology Services SAE (b)	198,224	33,166
Heliopolis Housing	289,471	105,390
Madinet Masr For Housing & Development	843,907	83,025
Misr Fertilizers Production Co. SAE	20,267	240,712
Palm Hills Developments SAE (b)	84,861	5,904
Talaat Moustafa Group	914,471	406,925
Telecom Egypt Co.	208,497	201,682
		3,381,919
GREECE — 0.8%
Aegean Airlines SA (b)	29,817	331,472
Athens Water Supply & Sewage Co. SA	24,232	144,185
Autohellas Tourist & Trading SA	13,342	184,766
Danaos Corp. (c)	10,129	670,742
Diana Shipping, Inc.	85,591	297,001
Ellaktor SA (b)	29,187	64,739
ElvalHalcor SA	12,761	24,725
Epsilon Net SA	4,987	50,160
FF Group (b)(e)	24,815	—
Fourlis Holdings SA	55,646	256,576
GEK Terna Holding Real Estate Construction SA	51,689	720,191
Hellenic Exchanges - Athens Stock Exchange SA	48,084	243,854
Holding Co. ADMIE IPTO SA (b)	129,212	295,495
Intracom Holdings SA	53,025	113,122
LAMDA Development SA (b)	61,791	400,378
Piraeus Port Authority SA	1,497	34,869
Quest Holdings SA	19,330	114,198
Safe Bulkers, Inc. (c)	71,938	233,079
Sarantis SA	23,650	184,040
Star Bulk Carriers Corp.	59,400	1,145,232
StealthGas, Inc. (b)	38,100	191,833
Tsakos Energy Navigation Ltd.	17,213	357,686
		6,058,343
HONG KONG — 1.0%
Agritrade Resources Ltd. (b)(e)	1,595,000	—
Alibaba Pictures Group Ltd. (b)(c)	10,100,000	799,556
Anxin-China Holdings Ltd. (b)(e)	2,248,000	—
Boshiwa International Holding Ltd. (b)(e)	1,843,000	—
China Animal Healthcare Ltd. (b)(e)	1,059,700	—

Security Description	Shares	Value
China High Speed Transmission Equipment Group Co. Ltd. (b)	10,000	$ 2,873
China Huiyuan Juice Group Ltd. (b)(e)	1,494,400	—
China Merchants Commercial Real Estate Investment Trust	616,000	106,968
China Metal Recycling Holdings Ltd. (b)(c)(e)	693,675	—
China Zhongwang Holdings Ltd. (b)(e)	346,000	—
Chong Sing Holdings FinTech Group Ltd. (b)(e)	9,212,000	—
Citychamp Watch & Jewellery Group Ltd. (b)	780,000	117,520
Comba Telecom Systems Holdings Ltd.	1,434,690	186,850
Concord New Energy Group Ltd.	7,210,000	598,390
Crystal International Group Ltd. (d)	338,000	106,598
CTEG (b)(c)(e)	3,217,900	—
Digital China Holdings Ltd.	616,000	195,846
Ding Yi Feng Holdings Group International Ltd. (b)(c)	792,464	150,765
Fenbi Ltd. (b)	397,500	254,279
FingerMotion, Inc. (b)(c)	24,500	152,145
Fortior Technology Shenzhen Co. Ltd. Class A	8,894	134,281
GR Life Style Company Ltd. (b)	776,000	75,303
Grand Pharmaceutical Group Ltd. Class A	1,191,000	638,700
Guotai Junan International Holdings Ltd.	281,973	21,962
Gushengtang Holdings Ltd. (b)	110,400	622,351
Hi Sun Technology China Ltd. (b)	162,000	11,997
Huabao International Holdings Ltd. (c)	660,000	225,847
IMAX China Holding, Inc. (d)	92,200	98,888
Kingkey Financial International Holdings Ltd. (b)(c)	2,860,191	361,548
MedSci Healthcare Holdings Ltd. (b)	192,250	163,239
MH Development NPV (b)(e)	27,600	—
National Agricultural Holdings Ltd. (b)(e)	164,600	—
Nissin Foods Co. Ltd. (c)	289,000	221,404
Perennial Energy Holdings Ltd.	532,162	61,833
Pou Sheng International Holdings Ltd.	1,023,812	88,892
Real Gold Mining Ltd. (b)(e)	251,500	—
Sinic Holdings Group Co. Ltd. (b)(e)	347,921	—
Skyworth Group Ltd.	1,049,099	393,822
SSY Group Ltd.	1,234,000	715,330

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
SunCar Technology Group, Inc. Class A (b)(c)	13,600	$ 144,296
Tech-Pro, Inc. (b)(e)	6,035,100	—
Time Interconnect Technology Ltd. (c)	504,000	79,154
United Laboratories International Holdings Ltd.	730,500	739,655
Untrade.Lumena Newmat (b)(c)(e)	104,532	—
Wasion Holdings Ltd.	296,000	109,982
Zhaoke Ophthalmology Ltd. (b)(d)	262,375	120,269
		7,700,543
HUNGARY — 0.0% (a)
Magyar Telekom Telecommunications PLC	255,444	376,086
INDIA — 18.2%
Aarti Drugs Ltd.	30,686	200,487
Aarti Pharmalabs Ltd. (b)	57,024	317,219
Aavas Financiers Ltd. (b)	41,293	864,882
Action Construction Equipment Ltd.	31,622	262,180
ADF Foods Ltd.	173,525	437,358
Aditya Birla Sun Life Asset Management Co. Ltd.	24,522	128,056
Advanced Enzyme Technologies Ltd.	30,799	118,870
Aegis Logistics Ltd.	110,758	439,344
Aether Industries Ltd. (b)	17,616	205,443
Affle India Ltd. (b)	44,338	591,004
AGI Greenpac Ltd.	21,827	235,470
Ahluwalia Contracts India Ltd.	21,671	183,603
Akzo Nobel India Ltd.	8,615	260,251
Alembic Pharmaceuticals Ltd.	45,147	426,482
Alkyl Amines Chemicals	10,807	299,290
Allcargo Logistics Ltd.	58,186	191,113
Alok Industries Ltd. (b)	1,273,964	290,718
Amara Raja Batteries Ltd.	79,715	611,869
Amber Enterprises India Ltd. (b)	13,191	472,861
AMI Organics Ltd.	15,427	229,107
Amrutanjan Health Care Ltd.	12,314	91,368
Anand Rathi Wealth Ltd.	5,466	110,635
Anant Raj Ltd.	83,336	220,379
Andhra Sugars Ltd.	45,643	65,215
Angel One Ltd.	32,481	723,869
Anupam Rasayan India Ltd.	13,677	145,736
Apar Industries Ltd.	13,713	904,534
Apcotex Industries Ltd.	18,576	113,973
Apollo Pipes Ltd.	13,850	117,783
Aptech Ltd.	34,089	115,435
Aptus Value Housing Finance India Ltd.	166,012	584,552
Archean Chemical Industries Ltd.	29,838	211,583
Arvind Fashions Ltd.	85,169	334,558

Security Description	Shares	Value
Arvind Ltd.	125,436	$ 262,152
Asahi India Glass Ltd.	84,902	642,174
Ashapura Minechem Ltd. (b)	41,657	145,727
Ashoka Buildcon Ltd. (b)	117,800	173,562
Astec Lifesciences Ltd.	4,331	69,035
Aster DM Healthcare Ltd. (b)(d)	151,261	597,275
Astra Microwave Products Ltd.	57,569	296,610
AstraZeneca Pharma India Ltd.	5,800	314,529
Automotive Axles Ltd.	2,191	58,402
Avalon Technologies Ltd. (b)(d)	20,587	137,691
Avanti Feeds Ltd.	27,670	147,045
Bajaj Consumer Care Ltd.	51,692	140,184
Bajaj Electricals Ltd.	32,642	433,333
Bajaj Hindusthan Sugar Ltd. (b)	566,946	179,216
Bajel Projects Ltd. (b)	32,642	51,474
Balaji Amines Ltd.	1,884	49,328
Balmer Lawrie & Co. Ltd.	65,551	121,406
Balrampur Chini Mills Ltd.	118,676	624,240
Barbeque Nation Hospitality Ltd. (b)	9,821	87,748
BASF India Ltd.	8,680	267,033
BEML Land Assets Ltd. (b)	14,552	28,888
BEML Ltd.	14,680	409,810
Best Agrolife Ltd.	4,727	63,973
Bhansali Engineering Polymers Ltd.	62,896	66,690
Bharat Bijlee Ltd.	3,857	167,476
Bharat Rasayan Ltd.	799	88,424
Bikaji Foods International Ltd.	51,407	300,210
Birla Corp. Ltd.	21,228	314,312
Birlasoft Ltd.	156,875	913,107
BLS International Services Ltd.	74,727	225,060
Blue Dart Express Ltd.	5,079	409,054
Blue Star Ltd.	96,126	1,013,105
Bombay Burmah Trading Co.	23,596	358,438
Bombay Dyeing & Manufacturing Co. Ltd. (b)	105,914	183,281
Borosil Ltd. (b)	19,972	94,916
Borosil Renewables Ltd. (b)	40,504	209,126
Brigade Enterprises Ltd.	102,591	701,534
Brightcom Group Ltd.	653,212	148,670
Brookfield India Real Estate Trust REIT (d)	187,453	543,840
Camlin Fine Sciences Ltd. (b)	73,343	144,803
Can Fin Homes Ltd.	69,797	642,822
Caplin Point Laboratories Ltd.	18,360	227,916
Capri Global Capital Ltd.	61,165	587,003
Care Ratings Ltd.	14,615	154,323
Cartrade Tech Ltd. (b)	31,063	205,849
Carysil Ltd.	12,306	91,893
Castrol India Ltd.	349,122	582,492
CCL Products India Ltd.	59,028	458,981
CE Info Systems Ltd.	6,233	149,709
Ceat Ltd.	15,248	389,650
Century Enka Ltd.	8,890	44,947
Century Plyboards India Ltd.	49,806	388,234

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Century Textiles & Industries Ltd.	41,274	$ 555,207
Cera Sanitaryware Ltd.	6,301	646,564
CESC Ltd.	450,295	487,758
Chalet Hotels Ltd. (b)	77,246	518,547
Chambal Fertilisers & Chemicals Ltd.	123,378	411,328
Chemplast Sanmar Ltd. (b)	56,580	329,875
Chennai Petroleum Corp. Ltd.	34,056	209,238
Chennai Super Kings Cricket Ltd. (b)(e)	418,560	—
Choice International Ltd. (b)	43,960	222,946
Cigniti Technologies Ltd.	17,347	163,597
City Union Bank Ltd.	302,576	461,655
Clean Science & Technology Ltd.	26,178	444,253
CMS Info Systems Ltd.	84,349	355,613
Cochin Shipyard Ltd. (d)	38,770	506,678
Computer Age Management Services Ltd.	27,645	835,779
Confidence Petroleum India Ltd.	151,768	157,468
Cosmo First Ltd.	10,136	83,703
Craftsman Automation Ltd.	10,842	605,212
Cressanda Solutions Ltd. (b)(f)	449,526	130,568
Cressanda Solutions Ltd. (b)(f)	27,805	4,272
CSB Bank Ltd. (b)	86,785	351,461
D B Realty Ltd. (b)	96,806	189,203
Data Patterns India Ltd.	16,440	415,983
Datamatics Global Services Ltd.	21,139	153,653
DB Corp. Ltd.	47,068	145,158
DCB Bank Ltd.	87,031	130,639
DCM Shriram Ltd.	39,188	514,170
Deepak Fertilisers & Petrochemicals Corp. Ltd.	90,097	701,757
Delta Corp. Ltd.	52,956	91,001
Dhampur Sugar Mills Ltd.	26,819	98,519
Dhani Services Ltd. (b)	42,069	21,303
Dhanuka Agritech Ltd.	6,820	69,119
Digidrive Distributors Ltd. (b)	12,658	20,540
Dilip Buildcon Ltd. (d)	26,163	98,094
Dish TV India Ltd. (b)	1,229,418	270,930
Dishman Carbogen Amcis Ltd. (b)	55,087	107,831
Dodla Dairy Ltd. (b)	22,955	190,777
Dreamfolks Services Ltd.	19,469	118,186
Dwarikesh Sugar Industries Ltd.	106,140	133,504
Easy Trip Planners Ltd. (b)	416,264	203,267
eClerx Services Ltd.	16,641	361,061
Edelweiss Financial Services Ltd.	420,715	310,313
EID Parry India Ltd.	75,379	473,789
EIH Ltd.	151,416	406,706
Elecon Engineering Co. Ltd.	38,405	357,660
Electronics Mart India Ltd. (b)	86,127	143,387

Security Description	Shares	Value
Electrosteel Castings Ltd.	239,890	$ 205,538
Elgi Equipments Ltd.	182,473	1,122,860
eMudhra Ltd.	24,093	135,608
Engineers India Ltd.	178,190	316,398
Epigral Ltd.	5,090	60,896
EPL Ltd.	94,229	211,853
Equitas Small Finance Bank Ltd. (d)	465,108	502,123
Eris Lifesciences Ltd. (b)(d)	17,777	187,593
ESAB India Ltd.	4,952	301,859
Ethos Ltd. (b)	8,310	176,019
Eureka Forbes Ltd. (b)	39,877	234,197
Eveready Industries India Ltd. (b)	33,874	159,496
FDC Ltd. (b)	47,403	219,002
FIEM Industries Ltd.	5,571	120,603
Fine Organic Industries Ltd.	5,313	306,792
Fineotex Chemical Ltd.	28,527	109,912
Finolex Cables Ltd.	61,585	831,355
Finolex Industries Ltd.	221,732	598,112
Firstsource Solutions Ltd.	226,891	457,792
Fusion Micro Finance Ltd. (b)	38,451	275,552
G R Infraprojects Ltd.	15,301	222,473
Gabriel India Ltd.	79,651	316,959
Galaxy Surfactants Ltd.	7,454	228,195
Garden Reach Shipbuilders & Engineers Ltd.	24,299	246,117
Garware Hi-Tech Films Ltd.	4,040	71,178
Garware Technical Fibres Ltd.	6,585	251,795
Gateway Distriparks Ltd.	255,139	267,456
Gati Ltd. (b)	53,066	98,571
GE T&D India Ltd. (b)	78,334	417,558
Genus Power Infrastructures Ltd.	80,360	247,299
GHCL Ltd.	60,142	445,807
Glenmark Life Sciences Ltd.	11,557	86,001
Globus Spirits Ltd.	9,535	100,780
GMM Pfaudler Ltd.	24,669	553,559
Go Fashion India Ltd. (b)	23,480	358,712
Godawari Power & Ispat Ltd.	29,326	223,738
Godfrey Phillips India Ltd.	14,209	372,587
Godrej Agrovet Ltd. (d)	26,735	154,616
Godrej Industries Ltd. (b)	41,368	283,778
Gokaldas Exports Ltd.	45,867	419,530
Granules India Ltd.	142,488	608,705
Graphite India Ltd.	52,781	312,747
Gravita India Ltd.	15,798	173,149
Great Eastern Shipping Co. Ltd.	91,686	935,395
Greaves Cotton Ltd.	96,704	161,054
Greenlam Industries Ltd.	51,963	259,936
Greenpanel Industries Ltd.	43,024	196,854
Greenply Industries Ltd.	63,139	124,885
Gujarat Alkalies & Chemicals Ltd.	15,968	140,881
Gujarat Ambuja Exports Ltd.	75,011	314,528

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Gujarat Mineral Development Corp. Ltd.	58,759	$ 224,412
Gujarat Narmada Valley Fertilizers & Chemicals Ltd.	70,059	516,407
Gujarat Pipavav Port Ltd.	232,353	347,657
Gujarat State Fertilizers & Chemicals Ltd.	215,264	449,626
Gujarat State Petronet Ltd.	227,398	772,769
Happiest Minds Technologies Ltd.	46,849	493,532
Harsha Engineers Ltd. (b)	32,382	163,545
Hathway Cable & Datacom Ltd. (b)	505,652	121,783
HBL Power Systems Ltd.	90,585	291,146
HealthCare Global Enterprises Ltd. (b)	45,955	197,896
HEG Ltd.	13,274	275,467
HeidelbergCement India Ltd.	58,862	126,916
Hemisphere Properties India Ltd. (b)	78,471	110,088
Heritage Foods Ltd.	21,997	61,230
Hester Biosciences Ltd.	3,386	67,831
HFCL Ltd.	667,177	619,845
HG Infra Engineering Ltd.	13,861	157,294
Hikal Ltd.	1,153	4,102
HIL Ltd.	221	7,617
Himadri Speciality Chemical Ltd.	172,768	506,396
Hinduja Global Solutions Ltd.	12,506	151,202
Hindustan Construction Co. Ltd. (b)	855,068	284,195
Hindustan Copper Ltd.	241,504	472,298
Hindustan Foods Ltd. (b)	23,599	152,110
Hindustan Oil Exploration Co. Ltd. (b)	79,041	164,381
Hindware Home Innovation Ltd.	22,799	151,318
Hle Glascoat Ltd.	13,679	92,403
Home First Finance Co. India Ltd. (d)	23,455	229,138
Housing & Urban Development Corp. Ltd.	300,203	331,867
ICRA Ltd.	2,254	148,830
IFB Industries Ltd. (b)	6,504	70,749
IFCI Ltd. (b)	679,016	199,515
IIFL Securities Ltd.	87,039	91,084
India Cements Ltd. (b)	175,748	493,543
India Glycols Ltd.	10,771	90,749
India Pesticides Ltd.	21,816	77,540
Indiabulls Housing Finance Ltd.	313,487	700,277
Indiabulls Real Estate Ltd. (b)	381,896	382,856
Indian Energy Exchange Ltd. (d)	327,684	521,666
Indigo Paints Ltd.	1,602	28,663
Indo Count Industries Ltd.	61,907	166,581
Indoco Remedies Ltd.	24,071	98,265
Infibeam Avenues Ltd.	1,047,860	223,979

Security Description	Shares	Value
Ingersoll Rand India Ltd.	8,480	$ 298,935
Inox Green Energy Services Ltd. (b)	168,480	129,848
Inox Wind Ltd. (b)	79,913	185,778
Intellect Design Arena Ltd.	78,326	666,195
IOL Chemicals & Pharmaceuticals Ltd.	12,547	72,019
ION Exchange India Ltd.	56,692	353,774
IRB Infrastructure Developers Ltd.	1,095,294	416,796
IRCON International Ltd. (d)	310,743	542,033
ISGEC Heavy Engineering Ltd.	21,367	187,177
ITD Cementation India Ltd.	125,421	326,688
J Kumar Infraprojects Ltd.	59,582	310,246
Jai Corp. Ltd.	54,134	139,701
Jain Irrigation Systems Ltd. (b)	334,268	255,004
Jaiprakash Associates Ltd. (b)	1,028,518	148,008
Jaiprakash Power Ventures Ltd. (b)	3,886,870	479,767
Jammu & Kashmir Bank Ltd.	248,792	315,629
Jamna Auto Industries Ltd.	182,722	257,334
JBM Auto Ltd.	15,312	252,956
Jindal Poly Films Ltd.	6,917	56,125
Jindal Saw Ltd.	124,773	520,781
Jindal Worldwide Ltd.	25,736	118,807
JK Lakshmi Cement Ltd.	46,607	362,260
JK Paper Ltd.	60,583	286,678
JK Tyre & Industries Ltd.	86,821	290,654
JM Financial Ltd.	228,416	237,517
Johnson Controls-Hitachi Air Conditioning India Ltd. (b)	6,999	103,020
JTEKT India Ltd.	77,065	136,792
JTL Industries Ltd.	49,963	138,624
Jubilant Ingrevia Ltd.	55,459	319,933
Jubilant Pharmova Ltd.	59,756	313,131
Jupiter Wagons Ltd.	86,082	339,233
Just Dial Ltd. (b)	15,297	134,363
Jyothy Labs Ltd.	105,710	458,910
Kalpataru Projects International Ltd.	61,519	467,868
Karnataka Bank Ltd.	85,443	256,150
Karur Vysya Bank Ltd.	258,268	416,134
Kaynes Technology India Ltd. (b)	13,476	373,295
KCP Ltd.	56,693	81,345
KDDL Ltd.	5,629	137,991
KEC International Ltd.	97,586	778,537
Kennametal India Ltd.	1,843	59,344
Kesoram Industries Ltd. (b)	133,473	140,238
Kfin Technologies Ltd. (b)	48,781	275,769
Kiri Industries Ltd. (b)	10,234	33,386
Kirloskar Brothers Ltd.	17,056	172,334
Kirloskar Ferrous Industries Ltd.	35,499	205,322
Kirloskar Oil Engines Ltd.	67,653	439,852
Kirloskar Pneumatic Co. Ltd.	17,143	136,353
KNR Constructions Ltd.	98,595	337,194

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Kolte-Patil Developers Ltd.	25,698	$ 145,493
KPI Green Energy Ltd. (d)	13,616	134,928
KRBL Ltd.	36,095	176,278
Krishna Institute of Medical Sciences Ltd. (b)(d)	31,642	753,239
Krsnaa Diagnostics Ltd.	8,621	70,740
KSB Ltd.	8,275	297,916
LA Opala RG Ltd.	45,588	236,171
Lakshmi Machine Works Ltd.	4,995	876,569
Latent View Analytics Ltd. (b)	36,211	179,090
Laxmi Organic Industries Ltd.	28,354	95,195
Lemon Tree Hotels Ltd. (b)(d)	367,663	503,625
LG Balakrishnan & Bros Ltd.	21,642	277,206
Lloyds Engineering Works Ltd.	333,629	173,361
LT Foods Ltd.	141,642	283,740
Lumax Auto Technologies Ltd.	33,822	147,440
LUX Industries Ltd.	3,220	57,852
Mahanagar Gas Ltd.	42,618	528,021
Maharashtra Scooters Ltd.	2,642	242,216
Maharashtra Seamless Ltd.	30,894	228,502
Mahindra Holidays & Resorts India Ltd. (b)	73,038	348,385
Mahindra Lifespace Developers Ltd.	62,598	414,638
Mahindra Logistics Ltd. (d)	1,277	5,963
Maithan Alloys Ltd.	7,623	95,130
Man Infraconstruction Ltd.	72,269	132,369
Manali Petrochemicals Ltd.	82,824	65,478
Manappuram Finance Ltd.	380,980	687,488
Mangalore Refinery & Petrochemicals Ltd. (b)	252,283	290,437
Marksans Pharma Ltd.	202,367	268,186
MAS Financial Services Ltd. (d)	12,060	131,156
Mastek Ltd.	10,321	298,228
Mayur Uniquoters Ltd.	11,754	73,108
Medplus Health Services Ltd. (b)	29,544	273,538
Meghmani Organics Ltd.	48,869	47,109
Metropolis Healthcare Ltd. (d)	15,025	264,128
Minda Corp. Ltd.	106,158	425,699
Mishra Dhatu Nigam Ltd. (d)	56,763	279,368
MM Forgings Ltd.	7,716	81,507
MOIL Ltd.	66,707	178,413
Mold-Tek Packaging Ltd.	19,407	213,990
Morepen Laboratories Ltd. (b)	226,118	101,022
Motilal Oswal Financial Services Ltd.	22,347	236,505
Mrs Bectors Food Specialities Ltd.	25,120	315,417
MSTC Ltd.	28,661	148,704
MTAR Technologies Ltd. (b)	15,715	480,224
Multi Commodity Exchange of India Ltd.	19,395	478,725
Natco Pharma Ltd.	83,663	879,587
National Aluminium Co. Ltd.	725,439	849,128
Nava Ltd.	81,297	442,653

Security Description	Shares	Value
Navneet Education Ltd.	97,431	$ 181,038
Nazara Technologies Ltd. (b)	26,835	270,123
NBCC India Ltd.	425,122	299,485
NCC Ltd.	408,214	762,194
NELCO Ltd.	15,777	149,066
Neogen Chemicals Ltd.	7,036	148,979
NESCO Ltd.	24,350	201,345
Network18 Media & Investments Ltd. (b)	240,034	184,561
Neuland Laboratories Ltd.	5,776	256,543
Newgen Software Technologies Ltd.	19,249	208,748
NIIT Learning Systems Ltd. (b)	60,137	305,532
NIIT Ltd. (b)	60,137	88,785
Nilkamal Ltd.	2,919	79,733
NMDC Steel Ltd. (b)	1,070,141	663,029
NOCIL Ltd.	84,224	231,095
NRB Bearings Ltd.	51,314	172,960
Nuvama Wealth Management Ltd. (b)	4,695	136,271
Nuvoco Vistas Corp. Ltd. (b)	76,910	344,580
Olectra Greentech Ltd.	36,223	523,817
Orient Cement Ltd.	87,985	188,862
Orient Electric Ltd.	94,240	251,768
Orissa Minerals Development Co. Ltd. (b)	3,098	198,731
Paisalo Digital Ltd.	232,145	180,172
Paradeep Phosphates Ltd. (d)	434,255	375,209
Parag Milk Foods Ltd. (b)(d)	65,658	169,163
Paras Defence & Space Technologies Ltd. (b)	20,802	182,741
Patel Engineering Ltd. (b)	333,612	207,902
Paushak Ltd.	738	56,438
PCBL Ltd.	122,183	248,291
PG Electroplast Ltd. (b)	7,910	169,180
Piramal Pharma Ltd. (b)	529,536	650,751
PNC Infratech Ltd.	86,960	382,800
Poly Medicure Ltd.	36,030	596,217
Polyplex Corp. Ltd.	10,969	152,882
Power Mech Projects Ltd.	4,176	211,113
Praj Industries Ltd.	92,093	650,541
Prakash Industries Ltd. (b)	99,923	171,710
Pricol Ltd. (b)	49,501	195,968
Prince Pipes & Fittings Ltd. (b)	31,189	262,440
Prism Johnson Ltd. (b)	93,069	146,819
Privi Speciality Chemicals Ltd. (b)	3,704	54,308
Procter & Gamble Health Ltd.	6,130	377,428
PTC India Ltd.	253,747	405,641
Punjab Chemicals & Crop Protection Ltd.	5,100	67,962
PVR Inox Ltd. (b)	60,829	1,257,692
Quess Corp. Ltd. (d)	17,462	87,929
Railtel Corp. of India Ltd.	89,028	240,042
Rain Industries Ltd.	134,452	265,451
Rainbow Children's Medicare Ltd.	40,623	503,059

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Rajesh Exports Ltd. (b)	110,502	$ 668,138
Rajratan Global Wire Ltd.	4,673	43,319
Rallis India Ltd.	76,430	192,637
Ramco Industries Ltd.	22,730	49,584
Ramkrishna Forgings Ltd.	61,358	475,658
Rashtriya Chemicals & Fertilizers Ltd.	131,145	199,699
Rategain Travel Technologies Ltd. (b)	22,042	157,522
RattanIndia Enterprises Ltd. (b)	247,546	169,619
RattanIndia Power Ltd. (b)	1,511,343	125,579
Raymond Ltd.	33,616	731,999
RBL Bank Ltd. (d)	357,633	1,088,516
Redington Ltd.	492,488	918,064
Redtape Ltd. (b)	42,365	229,831
Reliance Industrial Infrastructure Ltd.	3,245	37,594
Reliance Infrastructure Ltd. (b)	211,200	440,756
Reliance Power Ltd. (b)	2,358,725	546,782
Religare Enterprises Ltd. (b)	72,338	210,547
Repco Home Finance Ltd.	39,052	180,773
Responsive Industries Ltd.	105,613	446,597
Restaurant Brands Asia Ltd. (b)	228,803	343,585
Rhi Magnesita India Ltd.	62,884	565,069
RITES Ltd.	71,931	426,607
Rolex Rings Ltd. (b)	10,746	284,938
Rossari Biotech Ltd.	638	6,259
Route Mobile Ltd.	21,782	417,207
RPSG Ventures Ltd. (b)	11,401	82,795
Rupa & Co. Ltd.	641	2,007
Safari Industries India Ltd.	11,003	518,858
Saksoft Ltd.	28,843	113,439
Sandur Manganese & Iron Ores Ltd.	6,395	116,297
Sanghvi Movers Ltd.	16,075	131,846
Sanofi India Ltd.	9,592	832,507
Sansera Engineering Ltd. (d)	8,654	98,179
Sapphire Foods India Ltd. (b)	30,993	542,444
Saregama India Ltd.	63,291	276,246
Sasken Technologies Ltd.	8,297	109,346
Satin Creditcare Network Ltd. (b)	53,232	146,988
Schneider Electric Infrastructure Ltd. (b)	66,823	292,950
Sequent Scientific Ltd. (b)	74,938	83,609
Sharda Cropchem Ltd.	31,733	160,516
Share India Securities Ltd.	4,835	75,924
Sheela Foam Ltd. (b)	17,419	239,476
Shilpa Medicare Ltd. (b)	25,654	110,783
Shipping Corp. of India Ltd. (f)	129,515	227,708
Shipping Corp. of India Ltd. (b)(f)	129,515	42,188
Shivalik Bimetal Controls Ltd.	22,087	141,193
Shoppers Stop Ltd. (b)	46,309	382,166
Shree Renuka Sugars Ltd. (b)	689,234	453,174
Shyam Metalics & Energy Ltd.	7,358	39,111
SIS Ltd. (b)	31,535	163,407

Security Description	Shares	Value
Siyaram Silk Mills Ltd.	6,157	$ 42,273
SJS Enterprises Ltd. (b)	20,228	166,810
Sobha Ltd.	27,454	233,293
Solara Active Pharma Sciences Ltd. (b)	452	1,944
SOM Distilleries & Breweries Ltd.	39,493	167,762
Somany Ceramics Ltd.	14,755	123,099
Sonata Software Ltd.	67,691	862,265
South Indian Bank Ltd.	603,388	197,275
Spandana Sphoorty Financial Ltd. (b)	26,718	268,463
SpiceJet Ltd. (b)	38,180	16,552
Star Cement Ltd. (b)	146,943	270,648
Steel Strips Wheels Ltd.	44,092	147,582
Sterling & Wilson Renewable (b)	35,119	152,438
Sterlite Technologies Ltd.	113,837	220,775
Stove Kraft Ltd. (b)	392	2,580
Strides Pharma Science Ltd.	50,646	309,885
Stylam Industries Ltd. (b)	6,779	140,684
Subex Ltd. (b)	396,217	155,307
Sudarshan Chemical Industries Ltd.	29,016	167,266
Sula Vineyards Ltd.	41,787	233,715
Sun Pharma Advanced Research Co. Ltd. (b)	78,754	221,066
Sundaram Clayton Ltd. (b)	3,561	43,796
Sunteck Realty Ltd. (b)	43,132	234,407
Suprajit Engineering Ltd.	56,001	260,511
Supreme Petrochem Ltd.	52,370	301,577
Supriya Lifescience Ltd.	36,732	124,252
Surya Roshni Ltd.	14,846	175,525
Suryoday Small Finance Bank Ltd. (b)	60,321	118,294
Suven Pharmaceuticals Ltd. (b)	82,680	558,908
Swan Energy Ltd.	49,186	170,466
Swaraj Engines Ltd.	6,575	157,765
Symphony Ltd.	12,683	134,396
Syrma SGS Technology Ltd.	49,211	362,469
Tamil Nadu Newsprint & Papers Ltd.	22,318	71,154
Tamilnad Mercantile Bank Ltd.	133,161	876,662
Tanla Platforms Ltd.	52,240	652,739
Tarsons Products Ltd. (b)	60	380
Tasty Bite Eatables Ltd.	431	84,701
Tata Coffee Ltd.	58,212	180,192
Tata Investment Corp. Ltd.	18,118	714,193
Tata Metaliks Ltd.	7,916	91,880
Tata Steel Long Products Ltd. (b)	14,463	142,346
Tata Teleservices Maharashtra Ltd. (b)	430,783	515,905
Tatva Chintan Pharma Chem Pvt Ltd.	1,739	33,148
TCI Express Ltd.	10,032	175,044
TCNS Clothing Co. Ltd. (b)(d)	3,052	13,325

See accompanying notes to financial statements.

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Security Description	Shares	Value
TD Power Systems Ltd.	55,868	$ 173,508
TeamLease Services Ltd. (b)	8,018	250,853
Techno Electric & Engineering Co. Ltd.	28,633	174,126
Technocraft Industries India Ltd. (b)	4,756	114,697
Tega Industries Ltd.	14,678	164,515
Tejas Networks Ltd. (b)(d)	58,824	620,072
Texmaco Rail & Engineering Ltd.	106,894	165,732
Thirumalai Chemicals Ltd.	43,118	111,688
Thomas Cook India Ltd.	67,226	97,025
Thyrocare Technologies Ltd. (d)	7,851	53,729
Tilaknagar Industries Ltd.	54,787	133,733
Time Technoplast Ltd.	154,803	281,210
Tips Industries Ltd.	32,919	122,592
Titagarh Rail System Ltd.	48,935	459,407
Transport Corp. of India Ltd.	20,599	194,415
Triveni Engineering & Industries Ltd.	64,091	293,051
Triveni Turbine Ltd. (b)	95,415	503,725
TTK Prestige Ltd.	35,420	334,062
TV18 Broadcast Ltd. (b)	304,094	159,845
TVS Holdings Ltd.	3,561	234,168
TVS Srichakra Ltd.	2,251	86,447
Uflex Ltd.	38,498	213,349
Ujjivan Small Finance Bank Ltd. (d)	420,427	273,901
Usha Martin Ltd.	122,272	506,220
UTI Asset Management Co. Ltd.	57,374	543,780
VA Tech Wabag Ltd. (b)	35,156	194,130
Vaibhav Global Ltd.	27,126	143,843
Vakrangee Ltd.	16,510	3,469
Valiant Organics Ltd. (d)	325	1,849
Vardhman Textiles Ltd.	75,291	338,324
Varroc Engineering Ltd. (b)(d)	45,966	269,127
Venky's India Ltd.	3,795	89,328
Vesuvius India Ltd.	8,694	326,339
V-Guard Industries Ltd.	127,167	470,590
Vijaya Diagnostic Centre Pvt Ltd.	31,771	190,990
Vindhya Telelinks Ltd.	6,350	170,814
VIP Industries Ltd.	54,334	429,320
VL E-Governance & IT Solutions Ltd. (b)	38,116	15,354
V-Mart Retail Ltd. (b)	5,768	136,995
Voltamp Transformers Ltd.	6,688	361,532
VRL Logistics Ltd.	24,452	212,303
VST Industries Ltd.	1,676	69,575
VST Tillers Tractors Ltd.	3,459	152,237
Welspun Corp. Ltd.	93,339	442,353
Welspun Enterprises Ltd.	48,695	166,478
Welspun India Ltd.	228,801	334,627
West Coast Paper Mills Ltd.	44,035	372,945
Westlife Foodworld Ltd.	62,771	706,654

Security Description	Shares	Value
Wheels India Ltd.	1,319	$ 12,527
Wockhardt Ltd. (b)	21,076	59,707
Wonderla Holidays Ltd.	17,092	148,946
Zen Technologies Ltd.	23,938	220,394
Zensar Technologies Ltd.	105,850	659,513
Zydus Wellnes Ltd.	10,426	196,797
		144,082,820
INDONESIA — 2.5%
ABM Investama Tbk PT	568,200	144,853
Ace Hardware Indonesia Tbk PT	3,996,914	193,962
Adi Sarana Armada Tbk PT (b)	428,675	27,598
AKR Corporindo Tbk PT	7,445,400	744,299
Arwana Citramulia Tbk PT	1,974,400	98,369
Astra Agro Lestari Tbk PT	384,022	186,358
Astra Otoparts Tbk PT	825,800	169,915
Bank Aladin Syariah Tbk PT (b)	4,921,200	342,303
Bank BTPN Syariah Tbk PT	2,078,524	256,201
Bank Danamon Indonesia Tbk PT	2,792,788	516,815
Bank Neo Commerce Tbk PT (b)	1,346,927	27,017
Bank OCBC Nisp Tbk PT	4,075,200	287,413
Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT	2,160,500	163,558
Bank Pembangunan Daerah Jawa Timur Tbk PT	6,988,700	287,145
Bank Raya Indonesia Tbk PT (b)	438,600	8,627
Bank Tabungan Negara Persero Tbk PT	8,761,699	691,638
BFI Finance Indonesia Tbk PT	7,857,195	582,109
Bintang Oto Global Tbk PT (b)	3,479,763	281,443
Bukalapak.com PT Tbk (b)	38,338,100	540,777
Bumi Resources Minerals Tbk PT (b)	66,430,800	911,247
Bumi Serpong Damai Tbk PT (b)	9,733,500	642,392
Bumitama Agri Ltd.	848,700	354,428
Cemindo Gemilang PT (b)	2,951,900	194,820
Cikarang Listrindo Tbk PT (d)	500,800	24,303
Ciputra Development Tbk PT	9,604,499	633,878
Dharma Satya Nusantara Tbk PT	4,649,700	183,521
Erajaya Swasembada Tbk PT	7,513,500	219,741
Global Mediacom Tbk PT (b)	8,049,800	146,881
Harum Energy Tbk PT	2,622,970	319,916
Impack Pratama Industri Tbk PT	6,845,200	141,732
Indika Energy Tbk PT	1,246,300	177,409
Industri Jamu Dan Farmasi Sido Muncul Tbk PT	7,432,865	283,752
Inti Agri Resources Tbk PT (b)(e)	258,200	—
Japfa Comfeed Indonesia Tbk PT	5,131,447	426,652

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Jasa Marga Persero Tbk PT	2,429,414	$ 674,357
M Cash Integrasi PT (b)	298,016	134,980
Map Aktif Adiperkasa PT	5,255,000	272,016
Matahari Department Store Tbk PT	586,700	91,108
Medco Energi Internasional Tbk PT	6,989,992	728,171
Media Nusantara Citra Tbk PT	2,084,300	65,543
Medikaloka Hermina Tbk PT	7,999,653	678,068
Metro Healthcare Indonesia TBK PT (b)	5,435,600	168,818
Metrodata Electronics Tbk PT	7,187,045	230,655
Midi Utama Indonesia Tbk PT	4,035,900	123,780
Mitra Pinasthika Mustika Tbk PT	1,808,600	120,534
Pabrik Kertas Tjiwi Kimia Tbk PT	1,503,185	931,284
Pacific Strategic Financial Tbk PT (b)	7,774,300	550,816
Pakuwon Jati Tbk PT	16,580,800	469,906
Panin Financial Tbk PT (b)	8,863,500	167,463
Pantai Indah Kapuk Dua Tbk PT (b)	1,318,500	412,058
Perusahaan Perkebunan London Sumatra Indonesia Tbk PT	3,326,423	218,461
Petrindo Jaya Kreasi Tbk PT (b)	1,341,800	248,305
PP Persero Tbk PT (b)	798,700	39,018
Prima Andalan Mandiri Tbk PT	28,900	10,285
Prodia Widyahusada Tbk PT	509,136	210,836
Rimo International Lestari Tbk PT (b)(e)	100,200	—
Samudera Indonesia Tbk PT	2,065,200	47,304
Saratoga Investama Sedaya Tbk PT	2,135,000	243,132
Sawit Sumbermas Sarana Tbk PT	3,040,200	233,105
Selamat Sempurna Tbk PT	1,897,800	260,326
Siloam International Hospitals Tbk PT	1,998,200	263,755
Sumber Tani Agung Resources Tbk PT	1,591,700	90,631
Summarecon Agung Tbk PT	7,891,515	293,602
Surya Citra Media Tbk PT	19,940,835	203,860
Surya Esa Perkasa Tbk PT	7,262,100	373,560
Surya Permata Andalan Tbk PT (b)	10,002,900	315,847
Timah Tbk PT	1,440,412	73,628
Trada Alam Minera Tbk PT (b)(e)	6,757,200	—
Triputra Agro Persada PT	2,811,000	104,583
Wijaya Karya Persero Tbk PT (b)	465,700	13,801
XL Axiata Tbk PT	4,054,132	624,318
		19,898,986

Security Description	Shares	Value
KUWAIT — 1.3%
A'ayan Leasing & Investment Co. KSCP	214,981	$ 111,299
Acico Industries Co. KSC (b)	68,381	17,590
Al Ahli Bank of Kuwait KSCP	240,862	190,164
Al Mazaya Holding Co. KSCP (b)	633,589	114,192
ALAFCO Aviation Lease & Finance Co. KSCP Class C (b)	317,515	174,656
Ali Alghanim Sons Automotive Co. KSCC	124,878	468,722
Alimtiaz Investment Group KSC (b)	537,947	112,272
Arabi Group Holding KSC (b)	183,847	303,983
Arzan Financial Group for Financing & Investment KPSC	612,876	358,941
Boubyan Petrochemicals Co. KSCP	305,555	685,163
Boursa Kuwait Securities Co. KPSC	82,890	494,846
Combined Group Contracting Co. SAK	24,194	33,584
Commercial Real Estate Co. KSC	1,136,649	363,742
Gulf Cables & Electrical Industries Group Co. KSCP	112,891	428,843
Heavy Engineering & Ship Building Co. KSCP Class B	145,946	347,569
Humansoft Holding Co. KSC	74,937	757,735
Integrated Holding Co. KCSC	181,443	253,627
Jazeera Airways Co. KSCP	94,411	450,289
Kuwait International Bank KSCP	959,182	471,754
Kuwait Real Estate Co. KSC	400,600	213,878
Kuwait Telecommunications Co.	110,854	195,488
Mezzan Holding Co. KSCC	115,568	189,965
National Industries Group Holding SAK	1,735,766	1,123,291
National Investments Co. KSCP	463,773	342,146
National Real Estate Co. KPSC (b)	746,595	174,419
Salhia Real Estate Co. KSCP	307,134	414,415
Shamal Az-Zour Al-Oula for the First Phase of Az-Zour Power Plant KSC	354,266	213,213
Warba Bank KSCP	1,747,735	1,046,209
		10,051,995
MALAYSIA — 4.0%
Aeon Co. M Bhd	388,200	90,947
AEON Credit Service M Bhd	58,500	151,755
AFFIN Bank Bhd	665,907	302,089
Agmo Holdings Bhd (b)	6,941	857
Alliance Bank Malaysia Bhd	867,300	624,349

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Ancom Nylex Bhd	339,500	$ 88,938
Astro Malaysia Holdings Bhd	463,791	45,438
Axis Real Estate Investment Trust	1,288,200	504,827
Bank Islam Malaysia Bhd	1,074,018	489,516
Berjaya Corp. Bhd (b)	2,220,245	139,497
Berjaya Food Bhd	769,100	122,853
Bermaz Auto Bhd	711,000	377,060
Boustead Plantations Bhd	450,900	140,209
British American Tobacco Malaysia Bhd	61,136	120,833
Bumi Armada Bhd (b)	3,726,700	448,450
Bursa Malaysia Bhd	490,747	704,464
Cahya Mata Sarawak Bhd	488,100	118,510
Capital A Bhd (b)	1,523,800	314,805
Carlsberg Brewery Malaysia Bhd Class B	116,400	495,820
Chin Hin Group Bhd (b)	600,600	514,224
CTOS Digital Bhd	2,005,600	598,017
D&O Green Technologies Bhd	406,424	295,172
Dagang NeXchange Bhd (b)	2,005,018	187,894
Datasonic Group Bhd	1,314,500	130,183
Dayang Enterprise Holdings Bhd	608,500	250,126
DRB-Hicom Bhd	478,300	145,673
Dufu Technology Corp. Bhd	128,477	46,517
Duopharma Biotech Bhd	294,391	75,240
Eco World Development Group Bhd	879,500	202,302
Eco World International Bhd	964,400	74,971
Ekovest Bhd (b)	2,205,500	260,700
Farm Fresh Bhd	988,000	252,511
FGV Holdings Bhd	599,100	177,360
Formosa Prosonic Industries Bhd	89,000	52,506
Fraser & Neave Holdings Bhd	107,100	577,100
Frontken Corp. Bhd	835,415	560,472
Gas Malaysia Bhd	280,300	181,484
Genetec Technology Bhd (b)	350,488	178,407
Genting Plantations Bhd	263,547	303,105
Globetronics Technology Bhd	408,400	135,691
Greatech Technology Bhd (b)	314,300	292,528
HAP Seng Consolidated Bhd	622,500	583,356
Hap Seng Plantations Holdings Bhd	156,800	62,783
Hartalega Holdings Bhd (b)	1,504,200	637,529
Heineken Malaysia Bhd	128,300	664,556
Hengyuan Refining Co. Bhd	136,500	95,065
Hextar Global Bhd	1,977,456	322,188
Hiap Teck Venture Bhd	1,297,744	120,232
Hibiscus Petroleum Bhd	1,123,400	270,367
Hong Leong Capital Bhd	93,711	105,382
IGB Real Estate Investment Trust	1,310,400	468,872
IJM Corp. Bhd	2,216,185	877,931
IOI Properties Group Bhd	1,244,700	440,062
ITMAX SYSTEM Bhd	262,300	101,116

Security Description	Shares	Value
JAKS Resources Bhd (b)	160,787	$ 7,191
JF Technology Bhd	346,041	80,333
Kelington Group Bhd	439,842	140,517
KNM Group Bhd (b)	4,687,400	124,791
Kossan Rubber Industries Bhd	553,804	155,694
KPJ Healthcare Bhd	2,058,864	499,889
Leong Hup International Bhd	1,460,900	171,129
Lotte Chemical Titan Holding Bhd (d)	248,731	61,451
Magnum Bhd	153,990	36,733
Mah Sing Group Bhd	1,388,500	266,152
Malakoff Corp. Bhd	1,000,700	126,813
Malayan Cement Bhd (b)	214,200	167,428
Malayan Flour Mills Bhd	922,019	122,733
Malaysia Building Society Bhd	3,104,007	482,599
Malaysia Smelting Corp. Bhd	160,200	75,404
Malaysian Pacific Industries Bhd	70,300	411,147
Malaysian Resources Corp. Bhd	2,469,500	241,940
Matrix Concepts Holdings Bhd	767,550	243,576
MBM Resources Bhd	138,900	109,162
Mega First Corp. Bhd	493,619	357,447
Mi Technovation Bhd	22,485	8,189
My EG Services Bhd	3,658,058	619,383
Nationgate Holdings Bhd	1,125,000	318,673
OSK Holdings Bhd	630,500	163,827
Padini Holdings Bhd	547,100	460,262
Pavilion Real Estate Investment Trust	985,400	256,043
Pentamaster Corp. Bhd	443,859	489,684
Pertama Digital Bhd (b)	173,600	125,340
PIE Industrial Bhd	188,279	119,498
PMB Technology Bhd (b)	505,500	341,289
RCE Capital Bhd	150,500	79,173
Sam Engineering & Equipment M Bhd	137,800	131,483
Scientex Bhd	717,664	567,070
SFP Tech Holdings Bhd	670,400	137,785
Sime Darby Property Bhd	2,538,900	375,813
SKP Resources Bhd	616,615	130,671
SP Setia Bhd Group	1,964,409	430,934
Sports Toto Bhd	400,561	126,262
Sunway Bhd	1,578,014	662,092
Sunway Real Estate Investment Trust	1,980,400	615,810
Supermax Corp. Bhd	77,993	13,787
Syarikat Takaful Malaysia Keluarga Bhd	383,814	284,473
Ta Ann Holdings Bhd	300,211	215,475
Top Glove Corp. Bhd (b)	4,143,700	683,961
TSH Resources Bhd	789,372	166,440
Uchi Technologies Bhd	226,600	166,985
UEM Sunrise Bhd	997,300	179,483
UMW Holdings Bhd	442,900	449,008
Unisem M Bhd	446,282	309,862
United Plantations Bhd	157,700	558,890

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
UWC Bhd (b)	221,827	$ 175,751
Velesto Energy Bhd (b)	4,281,000	232,502
ViTrox Corp. Bhd	320,700	508,175
VS Industry Bhd	2,397,200	520,770
WCE Holdings Bhd (b)	960,000	158,458
WCT Holdings Bhd	1,564,800	188,299
Widad Group Bhd (b)	1,285,241	139,603
Yinson Holdings Bhd	1,609,404	850,077
		31,366,248
MEXICO — 0.8%
Betterware de Mexico SAPI de CV	10,966	178,636
Bolsa Mexicana de Valores SAB de CV	437,274	823,042
Controladora Vuela Cia de Aviacion SAB de CV Class A (b)(c)	639,387	435,983
FIBRA Macquarie Mexico REIT (d)	549,311	923,289
Genomma Lab Internacional SAB de CV Class B (c)	716,206	552,655
Grupo Herdez SAB de CV (c)	95,299	224,723
Grupo Rotoplas SAB de CV (c)	111,578	161,218
Grupo Traxion SAB de CV (b)(c)(d)	202,052	346,239
La Comer SAB de CV (c)	329,828	694,445
Nemak SAB de CV (b)(d)	2,536,979	489,045
TF Administradora Industrial S de Real de CV REIT	728,772	1,295,800
		6,125,075
MONACO — 0.0%
Costamare, Inc.	45,377	436,527
PAKISTAN — 0.0% (a)
Engro Corp. Ltd.	60,906	50,653
Engro Fertilizers Ltd.	142,660	37,509
		88,162
PHILIPPINES — 0.7%
Alliance Global Group, Inc.	3,153,583	686,725
AREIT, Inc.	529,500	306,978
Cebu Air, Inc. (b)	49,500	29,748
Century Pacific Food, Inc.	1,171,555	579,814
Converge Information & Communications Technology Solutions, Inc. (b)	1,107,100	187,856
D&L Industries, Inc.	2,776,552	315,071
DITO CME Holdings Corp. (b)	921,329	52,600
First Gen Corp.	350,000	116,304
LT Group, Inc.	2,928,568	465,871
Manila Water Co., Inc.	895,800	288,171
Megaworld Corp.	7,095,000	253,321
MREIT, Inc.	730,900	158,902
Philcomsat Holdings Corp.	36,115	26,651
Puregold Price Club, Inc.	721,600	368,606
Real Commercial REIT, Inc.	3,049,200	264,089
Robinsons Land Corp.	2,105,672	564,976

Security Description	Shares	Value
Robinsons Retail Holdings, Inc.	320,300	$ 264,388
Security Bank Corp.	292,749	413,696
Synergy Grid & Development Phils, Inc.	190,800	28,666
		5,372,433
POLAND — 1.4%
11 bit studios SA (b)	2,400	393,123
Alior Bank SA (b)	80,882	959,826
Asseco Poland SA	60,852	999,551
Atlas Lithium Corp. (b)	6,122	187,578
Auto Partner SA	32,004	170,099
Bank Millennium SA (b)	553,839	723,218
Benefit Systems SA	1,622	655,853
CCC SA (b)	18,679	166,975
Celon Pharma SA	3,636	12,745
CI Games SA (b)	107,913	149,568
Datawalk SA (b)	674	7,381
Dom Development SA	3,897	136,594
Enea SA (b)	177,407	296,691
Eurocash SA	61,360	194,550
Grenevia SA (b)	234,867	157,921
Grupa Azoty SA (b)	34,315	193,545
Grupa Kety SA	7,626	1,152,185
Jastrzebska Spolka Weglowa SA (b)	42,093	424,493
KRUK SA	15,498	1,469,897
Lubelski Wegiel Bogdanka SA	7,189	56,853
Mo-BRUK SA	1,830	111,937
Neuca SA	1,285	196,060
PKP Cargo SA (b)	32,421	109,331
PlayWay SA	4,120	401,141
Stalprodukt SA	892	45,570
Tauron Polska Energia SA (b)	949,178	781,296
TEN Square Games SA	2,052	39,911
Text SA	13,616	453,550
TIM SA	8,898	96,521
Wirtualna Polska Holding SA	14,173	325,992
XTB SA (d)	44,263	311,308
Zespol Elektrowni Patnow Adamow Konin SA (b)	11,758	54,008
		11,435,271
QATAR — 0.5%
Al Khaleej Takaful Group QSC	224,321	219,391
Al Meera Consumer Goods Co. QSC	91,648	348,716
Baladna (b)	714,444	250,840
Doha Bank QPSC	549,449	245,290
Gulf International Services QSC	1,091,725	878,779
Gulf Warehousing Co.	162,826	141,802
Lesha Bank LLC (b)	599,846	240,927
Mannai Corp. QSC	26,034	34,137
Mazaya Real Estate Development QPSC (b)	658,555	131,711
Medicare Group	263,827	420,384

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Qatari Investors Group QSC	502,618	$ 236,534
Salam International Investment Ltd. QSC (b)	612,839	112,298
United Development Co. QSC	1,399,637	414,892
		3,675,701
RUSSIA — 0.0%
Detsky Mir PJSC (b)(d)(e)	414,207	—
Etalon Group PLC GDR (b)(e)	205,302	—
Globaltrans Investment PLC GDR (b)(e)	121,419	—
M.Video PJSC (b)(e)	61,705	—
Mosenergo PJSC (e)	8,150,848	—
OGK-2 PJSC (e)	21,527,092	—
		—
SAUDI ARABIA — 3.1%
Abdul Mohsen Al-Hokair Tourism & Development Co. (b)	138,222	81,818
Abdullah Saad Mohammed Abo Moati Stationaries Co.	4,083	32,442
Al Babtain Power & Telecommunication Co.	22,522	177,452
Al Gassim Investment Holding Co. (b)	3,847	19,305
Al Hassan Ghazi Ibrahim Shaker Co. (b)	14,945	104,602
Al Jouf Agricultural Development Co.	8,658	111,963
Al Jouf Cement Co. (b)	41,523	130,643
Al Khaleej Training & Education Co. (b)	40,314	205,093
Al Maather REIT Fund	13,802	33,047
Al Masane Al Kobra Mining Co.	23,096	320,842
Al Moammar Information Systems Co.	10,177	384,780
Al Rajhi Co. for Co-operative Insurance (b)	14,589	590,492
Al Rajhi REIT	127,615	273,574
Al Yamamah Steel Industries Co. (b)	5,234	35,447
AlAbdullatif Industrial Investment Co. (b)	577	2,640
Alahli REIT Fund 1	53,745	116,792
Alamar Foods	10,475	346,890
Alandalus Property Co.	47,047	275,976
Alaseel Co.	114,880	153,155
Al-Etihad Cooperative Insurance Co. (b)	31,216	173,790
Alinma Retail REIT Fund	132,755	167,074
AlJazira Takaful Ta'awuni Co. (b)	8,468	36,081
Alkhabeer REIT	68,038	118,825
AlKhorayef Water & Power Technologies Co.	5,382	204,061
Almunajem Foods Co.	11,551	216,209

Security Description	Shares	Value
AlSaif Stores For Development & Investment Co.	118,720	$ 260,203
Alujain Corp. (b)	25,416	298,518
Amlak International Finance Co.	19,311	71,365
Anaam International Holding Group Co. (b)	239,900	65,245
Arab Sea Information Systems Co. (b)	31,980	53,805
Arabian Cement Co.	41,325	365,269
Arabian Shield Cooperative Insurance Co. (b)	15,634	80,620
Arriyadh Development Co.	66,037	373,284
Astra Industrial Group	25,776	604,804
Ataa Educational Co.	14,261	273,778
Ayyan Investment Co. (b)	20,122	81,551
Basic Chemical Industries Ltd.	9,214	82,670
Batic Investments & Logistic Co. (b)	211,250	121,102
Bawan Co.	27,261	239,141
Buruj Cooperative Insurance Co. (b)	17,403	94,568
City Cement Co.	55,736	275,823
Derayah REIT	110,526	236,939
Dur Hospitality Co. (b)	42,019	290,737
Eastern Province Cement Co.	37,290	387,272
Electrical Industries Co.	11,098	121,324
Fawaz Abdulaziz Al Hokair & Co. Class C (b)	15,192	84,336
Fitaihi Holding Group	84,670	71,566
Gulf Insurance Group	12,449	108,542
Hail Cement Co.	32,429	105,836
Halwani Brothers Co. (b)	22,988	323,019
Herfy Food Services Co.	16,360	143,515
Jahez International Co. (b)	2,053	246,549
Jazan Energy & Development Co. (b)	35,899	143,962
L'Azurde Co. for Jewelry	14,413	53,418
Maharah Human Resources Co.	12,762	225,605
Malath Cooperative Insurance Co. (b)	14,796	83,163
Mediterranean & Gulf Cooperative Insurance & Reinsurance Co. (b)	32,590	117,484
Methanol Chemicals Co. (b)	21,540	130,373
Middle East Healthcare Co. (b)	33,915	498,265
Middle East Paper Co.	36,477	316,096
Musharaka Real Estate Income Fund REIT	100,862	160,015
Najran Cement Co.	51,520	168,141
Nama Chemicals Co. (b)	6,018	52,792
Naqi Water Co.	8,224	149,769
National Agriculture Development Co. (b)	76,439	968,111
National Co. for Glass Industries	32,427	297,860

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
National Co. for Learning & Education	18,490	$ 473,287
National Gas & Industrialization Co.	28,443	478,544
National Gypsum (b)	2,218	13,720
National Medical Care Co.	17,765	582,622
National Metal Manufacturing & Casting Co. (b)	11,252	55,743
Nayifat Finance Co. (b)	22,394	84,072
Northern Region Cement Co.	50,091	147,183
Perfect Presentation For Commercial Services Co.	30,981	183,716
Qassim Cement Co.	34,343	586,966
Retal Urban Development Co.	168,238	400,134
Riyad REIT Fund	162,353	365,792
Sadr Logistics Co. (b)	29,390	26,174
Saudi Advanced Industries Co.	31,909	248,435
Saudi Arabia Refineries Co.	3,932	96,558
Saudi Automotive Services Co.	25,635	444,287
Saudi Ceramic Co.	27,215	206,084
Saudi Chemical Co. Holding	327,730	400,220
Saudi Co. For Hardware CJSC (b)	5,798	47,924
Saudi Fisheries Co. (b)	8,282	57,084
Saudi Ground Services Co. (b)	71,713	565,987
Saudi Industrial Services Co.	30,963	215,889
Saudi Marketing Co.	10,027	61,759
Saudi Paper Manufacturing Co. (b)	12,494	129,589
Saudi Pharmaceutical Industries & Medical Appliances Corp. (b)	27,605	259,824
Saudi Printing & Packaging Co. Class C (b)	15,505	69,702
Saudi Public Transport Co. (b)	50,651	238,774
Saudi Real Estate Co. (b)	112,774	410,147
Saudi Reinsurance Co. (b)	23,132	115,091
Saudi Steel Pipe Co. (b)	12,209	114,751
Saudi Vitrified Clay Pipe Co. Ltd. (b)	7,844	94,953
Scientific & Medical Equipment House Co. (b)	3,604	44,348
Sedco Capital REIT Fund	86,693	182,611
Shams (b)	261,166	49,442
SHL Finance Co.	28,048	136,708
Sinad Holding Co. (b)	41,648	130,370
Southern Province Cement Co.	17,779	209,056
Sumou Real Estate Co.	10,753	136,618
Tabuk Agriculture (b)	5,086	22,891
Tabuk Cement Co. (b)	34,748	138,790
Takween Advanced Industries Co. (b)	227	964
Tanmiah Food Co.	2,972	74,172
Theeb Rent A Car Co.	13,395	223,938
Umm Al-Qura Cement Co. (b)	29,533	130,875
United Electronics Co.	40,290	811,075

Security Description	Shares	Value
United International Transportation Co.	30,890	$ 567,484
United Wire Factories Co.	8,719	63,815
Wafrah for Industry & Development (b)	7,040	77,525
Walaa Cooperative Insurance Co. (b)	24,500	114,973
Yamama Cement Co.	76,134	673,959
Yanbu Cement Co.	61,330	555,992
Zahrat Al Waha For Trading Co. Class C	5,298	52,126
Zamil Industrial Investment Co. (b)	23,961	146,943
		24,859,114
SINGAPORE — 0.2%
Geo Energy Resources Ltd. (c)	737,600	156,718
Guan Chong Bhd (b)	345,810	159,823
Japfa Ltd. (c)	578,600	91,141
Riverstone Holdings Ltd.	382,600	168,188
Silverlake Axis Ltd.	534,400	103,756
Yangzijiang Financial Holding Ltd. (c)	2,205,400	581,686
		1,261,312
SOUTH AFRICA — 3.9%
Adcock Ingram Holdings Ltd.	58,475	176,920
Advtech Ltd.	532,192	595,486
AECI Ltd.	81,955	491,572
Afrimat Ltd.	112,137	313,982
Astral Foods Ltd. (c)	29,559	214,953
Attacq Ltd. REIT	329,942	148,864
AVI Ltd.	283,200	1,122,013
Barloworld Ltd.	129,121	595,182
Blue Label Telecoms Ltd. (b)	69,941	11,026
Burstone Group Limited REIT	174,485	69,463
City Lodge Hotels Ltd.	291,103	66,443
Coronation Fund Managers Ltd.	119,182	195,986
Curro Holdings Ltd.	476,158	255,273
DataTec Ltd.	178,529	340,675
Dis-Chem Pharmacies Ltd. (d)	302,744	381,174
DRDGOLD Ltd.	426,042	354,142
Emira Property Fund Ltd. REIT	113,880	48,781
Equites Property Fund Ltd. REIT	358,200	239,378
Fairvest Ltd. Class B, REIT	1,213,834	206,178
Famous Brands Ltd.	33,734	116,318
Fortress Real Estate Investments Ltd. Class A, REIT (b)	791,091	540,428
Fortress Real Estate Investments Ltd. Class B, REIT (b)	1,541,419	499,095
Foschini Group Ltd.	291,808	1,531,731
Grindrod Ltd.	412,593	252,513
Hosken Consolidated Investments Ltd.	46,857	496,068

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Hudaco Industries Ltd.	26,371	$ 215,706
Hyprop Investments Ltd. REIT	298,487	506,208
Investec Ltd.	139,074	804,056
JSE Ltd.	45,880	224,731
KAP Ltd. (b)	1,121,464	142,866
Lesaka Technologies, Inc. (b)(c)	33,384	130,198
Life Healthcare Group Holdings Ltd.	1,248,563	1,342,712
MiX Telematics Ltd. ADR	15,857	87,531
Momentum Metropolitan Holdings	1,010,530	1,059,910
Motus Holdings Ltd.	150,718	752,174
Mr Price Group Ltd.	228,976	1,688,813
MultiChoice Group (b)	273,390	1,074,440
Nampak Ltd. (b)(c)	4,380	49,288
Netcare Ltd.	965,030	691,524
Ninety One Ltd.	127,762	264,755
Oceana Group Ltd.	65,254	261,509
Omnia Holdings Ltd.	134,871	403,337
Pick n Pay Stores Ltd. (c)	186,583	366,443
PPC Ltd. (b)	638,575	103,382
PSG Financial Services Ltd.	1,023,252	711,520
Redefine Properties Ltd. REIT	6,064,194	1,142,706
Renergen Ltd. (b)	17,022	15,360
Resilient REIT Ltd.	236,144	490,227
Reunert Ltd.	111,302	355,422
SA Corporate Real Estate Ltd. REIT	1,000,400	108,858
Santam Ltd.	39,945	640,201
Sappi Ltd.	460,246	1,075,896
SPAR Group Ltd. (c)	120,646	744,648
Stor-Age Property REIT Ltd. (c)	326,082	212,895
Sun International Ltd.	149,310	331,520
Super Group Ltd.	348,511	611,949
Telkom SA SOC Ltd. (b)	250,057	308,467
Thungela Resources Ltd.	117,208	1,080,351
Tiger Brands Ltd. (c)	127,752	1,040,561
Transaction Capital Ltd.	146,517	32,664
Truworths International Ltd. (c)	386,212	1,568,267
Tsogo Sun Limited	287,551	188,807
Vukile Property Fund Ltd. REIT (c)	747,983	520,111
Wilson Bayly Holmes-Ovcon Ltd. (b)	38,678	255,952
Zeda Ltd. (b)	110,804	68,225
		30,937,834
TAIWAN — 25.1%
91APP, Inc.	8,000	24,361
Aaeon Technology, Inc.	33,000	158,966
Abico Avy Co. Ltd.	85,000	63,328
Ability Enterprise Co. Ltd.	156,000	116,708
Ability Opto-Electronics Technology Co. Ltd. (c)	61,070	275,265
AcBel Polytech, Inc.	586,709	794,262

Security Description	Shares	Value
Acer E-Enabling Service Business, Inc.	15,000	$ 119,887
ACES Electronic Co. Ltd.	10,238	9,071
Acme Electronics Corp. (b)(c)	84,221	65,617
Acter Group Corp. Ltd.	60,000	303,899
Action Electronics Co. Ltd.	345,000	165,123
Actron Technology Corp.	40,983	212,022
ADATA Technology Co. Ltd.	255,776	669,540
Addcn Technology Co. Ltd.	20,999	132,380
Adimmune Corp. (b)	172,362	182,077
Adlink Technology, Inc.	60,000	114,311
Advanced Ceramic X Corp.	40,642	263,137
Advanced Energy Solution Holding Co. Ltd.	30,000	593,857
Advanced International Multitech Co. Ltd.	82,805	180,588
Advanced Lithium Electrochemistry Cayman Co. Ltd. (b)	52,834	89,365
Advanced Power Electronics Corp.	44,793	114,617
Advanced Wireless Semiconductor Co. (b)	102,426	341,097
Advancetek Enterprise Co. Ltd.	204,042	226,604
AGV Products Corp.	961,000	367,663
AIC, Inc.	19,000	320,782
Alcor Micro Corp.	51,466	56,519
Alexander Marine Co. Ltd.	14,000	163,071
ALI Corp. (b)	140,943	76,627
All Ring Tech Co. Ltd.	50,802	177,836
Allied Circuit Co. Ltd. (c)	23,750	111,096
Allied Supreme Corp.	37,000	335,837
Allis Electric Co. Ltd.	165,316	265,280
Alltek Technology Corp.	84,000	90,426
Alltop Technology Co. Ltd.	20,607	111,077
Alpha Networks, Inc.	476,285	580,592
Altek Corp.	217,516	225,060
Amazing Microelectronic Corp.	35,664	118,768
Ambassador Hotel	107,000	170,707
AMPACS Corp.	54,412	84,954
Ampak Technology, Inc.	66,000	171,336
AMPOC Far-East Co. Ltd.	48,000	108,549
AmTRAN Technology Co. Ltd.	644,742	238,679
Analog Integrations Corp.	18,000	123,232
Andes Technology Corp. (c)	27,089	332,313
Anpec Electronics Corp.	52,582	233,748
AP Memory Technology Corp.	105,324	1,249,643
Apacer Technology, Inc.	81,000	137,256
Apex Biotechnology Corp.	70,000	58,332
Apex Dynamics, Inc.	7,000	44,888
Apex International Co. Ltd.	100,366	175,047
Arcadyan Technology Corp.	190,318	952,165
Ardentec Corp.	249,083	482,263
Argosy Research, Inc.	44,368	183,489
Arizon RFID Technology Cayman Co. Ltd.	39,000	169,746
Asia Optical Co., Inc.	210,540	410,899

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Asia Polymer Corp.	526,020	$ 398,420
ASIX Electronics Corp.	30,703	108,905
ASMedia Technology, Inc.	25,000	894,503
ASolid Technology Co. Ltd.	58,000	185,065
ASROCK, Inc.	34,801	228,553
Aten International Co. Ltd.	161,000	405,486
Auden Techno Corp.	23,861	107,920
AURAS Technology Co. Ltd.	53,227	525,996
Aurora Corp.	32,000	74,547
Avalue Technology, Inc.	31,000	94,785
Avermedia Technologies	24,000	20,223
Axiomtek Co. Ltd.	78,052	218,097
Bafang Yunji International Co. Ltd. Class C	33,661	187,176
Bank of Kaohsiung Co. Ltd. (b)	187,467	69,689
Baotek Industrial Materials Ltd. (b)	90,000	186,800
Basso Industry Corp.	112,800	138,202
BenQ Materials Corp.	109,822	118,564
BES Engineering Corp.	2,485,356	835,369
Biostar Microtech International Corp. (b)	135,251	97,624
Bioteque Corp.	26,729	87,770
Bizlink Holding, Inc.	112,388	940,034
Bora Pharmaceuticals Co. Ltd.	10,436	207,553
Brave C&H Supply Co. Ltd.	14,000	68,958
Brighton-Best International Taiwan, Inc.	290,227	302,989
Brillian Network & Automation Integrated System Co. Ltd.	37,000	155,884
BRIM Biotechnology, Inc. (b)	74,769	174,644
Brogent Technologies, Inc.	35,136	124,084
Browave Corp. (c)	73,337	220,598
C Sun Manufacturing Ltd.	75,322	104,418
Calin Technology Co. Ltd. (b)	87,317	109,550
Caliway Biopharmaceuticals Co. Ltd. class C (b)	35,994	506,785
Capital Securities Corp.	1,908,771	863,309
Career Technology MFG. Co. Ltd.	283,943	191,316
Cashbox Partyworld Co. Ltd.	36,981	113,759
Caswell, Inc.	45,166	115,152
Cathay Real Estate Development Co. Ltd.	633,332	295,276
CCP Contact Probes Co. Ltd.	182,000	245,256
Celxpert Energy Corp.	1,718	1,570
Center Laboratories, Inc. (c)	383,997	545,415
Central Reinsurance Co. Ltd. (b)	606,178	437,538
Century Iron & Steel Industrial Co. Ltd.	126,000	706,495
Century Wind Power Co. Ltd. (b)	20,938	121,293
CH Biotech R&D Co. Ltd.	30,895	74,652
Champion Microelectronic Corp.	77,000	176,277

Security Description	Shares	Value
Chang Wah Electromaterials, Inc.	604,190	$ 581,159
Chang Wah Technology Co. Ltd.	359,000	369,226
Channel Well Technology Co. Ltd.	149,937	359,044
Chant Sincere Co. Ltd.	44,000	94,868
Charoen Pokphand Enterprise	200,542	584,594
CHC Healthcare Group	72,000	133,604
Chenbro Micom Co. Ltd.	62,000	417,744
Cheng Loong Corp.	863,128	766,054
Cheng Mei Materials Technology Corp. (b)	327,047	123,603
Cheng Uei Precision Industry Co. Ltd.	340,915	431,946
Chenming Electronic Technology Corp.	114,000	156,271
Chia Chang Co. Ltd.	84,000	113,846
Chia Hsin Cement Corp.	436,424	250,791
Chicony Power Technology Co. Ltd.	112,000	397,268
Chief Telecom, Inc.	19,800	217,134
Chieftek Precision Co. Ltd.	58,267	115,882
China Bills Finance Corp.	807,394	358,920
China Chemical & Pharmaceutical Co. Ltd.	447,000	318,489
China Electric Manufacturing Corp.	216,000	109,738
China General Plastics Corp.	284,557	219,497
China Man-Made Fiber Corp. (b)	1,360,828	330,084
China Metal Products	176,727	194,353
China Motor Corp.	205,000	619,182
China Petrochemical Development Corp. (b)	1,886,225	548,095
China Steel Chemical Corp.	142,000	497,080
China Steel Structure Co. Ltd.	76,808	128,725
China Wire & Cable Co. Ltd.	223,000	249,040
Chin-Poon Industrial Co. Ltd.	203,000	246,829
Chipbond Technology Corp.	527,000	1,113,409
ChipMOS Technologies, Inc.	675,875	783,065
CHO Pharma, Inc. (b)	75,511	191,348
Chong Hong Construction Co. Ltd.	252,275	579,098
Chun YU Works & Co. Ltd.	124,624	90,919
Chun Yuan Steel Industry Co. Ltd.	135,034	70,904
Chung Hung Steel Corp. (c)	656,000	458,258
Chung Hwa Pulp Corp.	322,488	225,778
Chung-Hsin Electric & Machinery Manufacturing Corp.	304,461	1,013,911
Chunghwa Chemical Synthesis & Biotech Co. Ltd.	34,723	63,464
Chunghwa Precision Test Tech Co. Ltd.	14,000	251,545
Cleanaway Co. Ltd.	52,000	284,320

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Clevo Co.	341,212	$ 334,019
CMC Magnetics Corp. (b)	971,267	359,556
Co.-Tech Development Corp. (c)	148,511	284,320
Compeq Manufacturing Co. Ltd.	1,095,193	1,798,151
Concord International Securities Co. Ltd.	222,000	126,541
Concord Securities Co. Ltd. (b)	295,594	122,704
Continental Holdings Corp.	425,233	353,038
Coremax Corp.	54,686	133,664
Coretronic Corp.	315,652	750,982
CSBC Corp. Taiwan (b)	383,717	271,617
CTCI Corp.	473,000	578,053
Cub Elecparts, Inc. (c)	45,149	195,111
CviLux Corp.	15,000	18,355
Cyberlink Corp.	24,000	64,757
CyberPower Systems, Inc. (c)	43,050	387,417
CyberTAN Technology, Inc. (b)	237,000	160,053
DA CIN Construction Co. Ltd.	104,682	107,664
Da-Li Development Co. Ltd.	118,908	115,665
Darfon Electronics Corp.	129,000	172,437
Darwin Precisions Corp.	401,576	196,555
Daxin Materials Corp.	30,000	99,441
Delpha Construction Co. Ltd.	289,000	235,906
Depo Auto Parts Ind Co. Ltd.	87,000	361,147
Diamond Biofund, Inc.	110,374	143,607
Dimerco Data System Corp.	44,000	139,031
Dimerco Express Corp.	82,568	204,882
D-Link Corp.	467,390	291,028
Drewloong Precision, Inc.	14,162	69,975
Dyaco International, Inc.	148,297	158,034
Dynamic Holding Co. Ltd.	152,189	395,082
Dynapack International Technology Corp.	133,000	330,847
E&R Engineering Corp. (c)	64,393	140,633
Eastern Media International Corp. (b)	34,857	24,134
eChem Solutions Corp.	46,427	384,009
eCloudvalley Digital Technology Co. Ltd.	21,419	80,619
ECOVE Environment Corp.	14,000	137,482
Edom Technology Co. Ltd.	44,000	31,350
eGalax_eMPIA Technology, Inc.	13,000	24,445
Egis Technology, Inc.	49,000	126,597
EirGenix, Inc. (b)	184,977	558,704
Elan Microelectronics Corp.	267,029	1,104,331
E-Lead Electronic Co. Ltd.	89,295	187,826
E-LIFE MALL Corp.	7,000	18,324
Elite Advanced Laser Corp.	94,600	172,903
Elite Semiconductor Microelectronics Technology, Inc.	241,674	580,218
Elitegroup Computer Systems Co. Ltd.	265,147	243,540
Ennoconn Corp. (c)	65,311	532,111

Security Description	Shares	Value
Ennostar, Inc. (b)	519,000	$ 705,816
Episil Technologies, Inc. (c)	196,501	439,503
Episil-Precision, Inc.	67,347	118,919
Eris Technology Corp.	16,950	145,186
Eson Precision Ind Co. Ltd.	113,000	222,986
Eternal Materials Co. Ltd.	829,764	728,731
Etron Technology, Inc.	206,687	256,434
Eurocharm Holdings Co. Ltd.	11,000	58,270
Ever Fortune AI Co. Ltd.	46,878	143,042
Ever Supreme Bio Technology Co. Ltd. (c)	56,303	348,836
Everest Textile Co. Ltd. (b)	425,658	100,875
Evergreen Aviation Technologies Corp.	83,922	275,576
Evergreen International Storage & Transport Corp.	360,214	318,586
EVERGREEN Steel Corp.	218,445	480,463
Everlight Chemical Industrial Corp.	510,385	305,942
Everlight Electronics Co. Ltd.	385,000	559,362
Excelliance Mos Corp.	15,000	56,691
Excelsior Medical Co. Ltd.	166,900	461,191
EZconn Corp.	74,000	174,452
Far Eastern Department Stores Ltd.	739,490	540,635
Far Eastern International Bank	3,655,712	1,319,343
Farglory F T Z Investment Holding Co. Ltd.	91,543	142,644
Farglory Land Development Co. Ltd.	189,464	339,246
Federal Corp. (b)	187,806	105,305
Feedback Technology Corp.	43,000	113,892
Feng Hsin Steel Co. Ltd.	375,270	781,219
FIC Global, Inc.	108,000	195,053
Firich Enterprises Co. Ltd.	194,516	187,704
First Copper Technology Co. Ltd.	88,756	80,836
First Hi-Tec Enterprise Co. Ltd.	52,000	144,979
First Steamship Co. Ltd. (b)	423,000	110,597
FIT Holding Co. Ltd.	151,533	157,023
FIT Hon Teng Ltd. (b)(d)	1,286,987	167,614
Fitipower Integrated Technology, Inc.	70,948	608,807
FLEXium Interconnect, Inc.	245,011	667,925
Flytech Technology Co. Ltd.	67,000	136,157
FocalTech Systems Co. Ltd.	209,405	490,420
FOCI Fiber Optic Communications, Inc.	78,000	178,566
Forcecon Tech Co. Ltd.	53,433	226,772
Foresee Pharmaceuticals Co. Ltd. (b)	81,783	203,441
Formosa Advanced Technologies Co. Ltd.	70,000	83,595
Formosa International Hotels Corp.	41,562	275,531
Formosa Laboratories, Inc.	71,724	194,861

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Formosa Oilseed Processing Co. Ltd.	28,350	$ 47,249
Formosa Pharmaceuticals, Inc. (b)	98,030	156,700
Formosa Sumco Technology Corp.	67,000	297,842
Formosa Taffeta Co. Ltd.	687,000	541,632
Formosan Rubber Group, Inc.	316,449	224,491
Formosan Union Chemical	180,409	118,203
Fortune Electric Co. Ltd.	149,330	1,253,649
Fositek Corp.	29,052	278,096
Foxsemicon Integrated Technology, Inc.	63,050	362,317
Froch Enterprise Co. Ltd.	5,799	3,270
FSP Technology, Inc.	102,000	156,726
Fu Hua Innovation Co. Ltd.	142,410	125,070
Fulgent Sun International Holding Co. Ltd. (c)	102,082	376,319
Fulltech Fiber Glass Corp. (c)	243,540	124,484
Fusheng Precision Co. Ltd.	81,364	512,928
Fwusow Industry Co. Ltd.	159,449	98,543
G Shank Enterprise Co. Ltd.	85,548	129,857
G Tech Optoelectronics Corp. (b)	31,235	13,450
Gallant Precision Machining Co. Ltd.	84,375	79,721
Gamania Digital Entertainment Co. Ltd. (c)	120,000	245,721
GEM Services, Inc.	14,879	30,606
Gemtek Technology Corp.	363,234	410,151
General Interface Solution Holding Ltd.	84,416	154,290
Generalplus Technology, Inc.	18,000	28,494
Genesys Logic, Inc.	62,553	200,562
Genius Electronic Optical Co. Ltd. (c)	79,972	911,687
GeoVision, Inc.	105,000	152,879
Getac Holdings Corp.	255,000	613,002
GFC Ltd.	40,000	98,140
Gigasolar Materials Corp. (b)	3,577	8,654
Gigastorage Corp. (b)	221,446	103,587
Global Brands Manufacture Ltd.	150,608	289,267
Global Mixed Mode Technology, Inc.	43,860	354,625
Global PMX Co. Ltd. (c)	53,412	225,028
Globe Union Industrial Corp. (b)	264,124	122,323
Gloria Material Technology Corp.	315,909	444,791
Gogoro, Inc. (b)(c)	41,000	107,420
Golden Biotechnology Corp. (b)	42,028	54,878
Goldsun Building Materials Co. Ltd. Class C	1,216,044	943,663
Gongwin Biopharm Holdings Co. Ltd. (b)	40,081	237,155

Security Description	Shares	Value
Gourmet Master Co. Ltd.	73,000	$ 238,581
Grand Fortune Securities Co. Ltd. (b)	347,000	124,694
Grand Pacific Petrochemical	824,000	425,012
Grand Process Technology Corp.	11,181	175,610
Grape King Bio Ltd.	91,000	439,770
Great Novel Therapeutics Biotech & Medicals Corp. (b)	45,789	113,761
Great Tree Pharmacy Co. Ltd. (c)	54,035	585,872
Great Wall Enterprise Co. Ltd.	602,604	1,004,324
Greatek Electronics, Inc.	210,474	361,217
Group Up Industrial Co. Ltd.	38,000	185,995
GTM Holdings Corp.	13,000	11,397
Gudeng Precision Industrial Co. Ltd.	52,175	556,008
GUS TECHNOLOGY Co. Ltd. (b)	95,440	130,533
Handa Pharmaceuticals, Inc. (b)	67,039	318,783
Hannstar Board Corp.	212,674	391,346
HannStar Display Corp. (b)	2,085,599	749,460
HannsTouch Holdings Co. (b)	255,987	74,701
Harvatek Corp.	101,969	72,495
HD Renewable Energy Co. Ltd.	50,161	174,815
Hey Song Corp.	140,000	166,106
Hi-Clearance, Inc.	7,000	30,142
Highlight Tech Corp.	19,000	28,311
HIM International Music, Inc.	9,000	28,299
Himax Technologies, Inc. ADR	98,909	577,629
Hitron Technology, Inc.	53,000	55,905
Hiwin Mikrosystem Corp.	19,000	38,553
Hiyes International Co. Ltd.	32,656	74,760
Ho Tung Chemical Corp.	916,351	237,033
Hocheng Corp.	181,000	109,619
Holdings-Key Electric Wire & Cable Co. Ltd.	165,000	156,410
Holiday Entertainment Co. Ltd.	49,000	135,097
Holtek Semiconductor, Inc.	96,648	185,329
Holy Stone Enterprise Co. Ltd.	108,150	327,996
Hong Pu Real Estate Development Co. Ltd.	80,000	65,922
Hong TAI Electric Industrial	137,559	117,401
Horizon Securities Co. Ltd. (b)	156,622	51,915
Hota Industrial Manufacturing Co. Ltd.	122,106	241,712
Hotron Precision Electronic Industrial Co. Ltd.	67,884	78,229
Hsin Kuang Steel Co. Ltd.	175,000	253,442
Hsin Yung Chien Co. Ltd.	26,547	88,818
Hsing TA Cement Co.	30,000	16,496
HTC Corp. (b)	526,515	784,541
Hu Lane Associate, Inc.	48,527	220,984
HUA ENG Wire & Cable Co. Ltd.	256,429	165,231
Huaku Development Co. Ltd.	162,260	451,385

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Huang Hsiang Construction Corp.	121,000	$ 146,562
Hung Sheng Construction Ltd.	174,000	102,684
Ibase Technology, Inc. (c)	175,817	517,421
IBF Financial Holdings Co. Ltd. (b)	2,610,323	942,063
Ichia Technologies, Inc.	196,709	245,273
I-Chiun Precision Industry Co. Ltd.	147,429	210,773
IEI Integration Corp.	59,000	144,756
Infortrend Technology, Inc.	116,000	70,073
Info-Tek Corp.	139,000	213,363
Ingentec Corp.	35,000	222,270
Innodisk Corp.	48,429	444,826
Inpaq Technology Co. Ltd.	68,652	130,794
Insyde Software Corp.	30,000	136,615
Intai Technology Corp.	24,000	91,077
Integrated Service Technology, Inc.	61,083	172,952
International CSRC Investment Holdings Co.	661,767	413,085
Iron Force Industrial Co. Ltd.	69,000	198,147
I-Sheng Electric Wire & Cable Co. Ltd.	77,000	107,340
I-Sunny Construction & Development Co. Ltd.	102,563	265,618
ITE Technology, Inc.	218,992	1,065,093
ITEQ Corp.	168,640	476,448
J&V Energy Technology Co. Ltd.	30,880	81,886
Jarllytec Co. Ltd.	30,000	123,604
Jess-Link Products Co. Ltd.	83,000	187,184
Jia Wei Lifestyle, Inc.	64,000	104,088
Jih Lin Technology Co. Ltd.	46,885	117,937
Ji-Haw Industrial Co. Ltd. (b)	124,000	145,970
Jiin Yeeh Ding Enterprise Co. Ltd.	59,848	93,442
JMicron Technology Corp. (b)	8,414	19,106
Johnson Health Tech Co. Ltd.	93,121	216,933
Jong Shyn Shipbuilding Co. Ltd.	34,852	111,205
K Laser Technology, Inc.	131,885	94,786
Kaimei Electronic Corp.	52,150	107,109
Kaori Heat Treatment Co. Ltd.	69,000	633,773
Kedge Construction Co. Ltd.	13,000	29,962
KEE TAI Properties Co. Ltd.	459,076	203,367
Kenda Rubber Industrial Co. Ltd.	623,180	568,537
Kenmec Mechanical Engineering Co. Ltd.	163,313	324,800
Kerry TJ Logistics Co. Ltd.	205,000	234,654
Keystone Microtech Corp.	12,586	76,419
Kindom Development Co. Ltd.	201,327	206,750
King's Town Bank Co. Ltd.	760,000	873,469
Kinik Co.	89,869	430,128
Kinko Optical Co. Ltd.	146,338	125,346
Kinpo Electronics	1,482,371	707,192

Security Description	Shares	Value
Kinsus Interconnect Technology Corp.	236,000	$ 793,234
KMC Kuei Meng International, Inc.	43,220	172,717
KNH Enterprise Co. Ltd.	70,000	43,804
KS Terminals, Inc.	91,712	205,127
Kung Long Batteries Industrial Co. Ltd.	45,000	183,315
Kung Sing Engineering Corp. (b)	334,724	79,947
Kuo Toong International Co. Ltd.	203,917	208,146
Kuo Yang Construction Co. Ltd. (b)	272,662	152,462
Kwong Lung Enterprise Co. Ltd.	36,000	58,995
L&K Engineering Co. Ltd.	118,000	429,516
La Kaffa International Co. Ltd.	10,000	35,625
LandMark Optoelectronics Corp.	29,526	107,016
Lanner Electronics, Inc.	59,360	168,442
Laster Tech Corp. Ltd.	54,000	79,878
Leader Electronics, Inc. (b)	199,000	125,452
Leadtrend Technology Corp.	26,803	51,563
Lealea Enterprise Co. Ltd. (b)	756,600	246,102
LEE CHI Enterprises Co. Ltd.	10,648	4,948
Lelon Electronics Corp.	45,818	83,317
Li Peng Enterprise Co. Ltd. (b)	557,985	129,641
Lian HWA Food Corp.	85,870	234,623
Lin BioScience, Inc. (b)	80,722	283,823
Lingsen Precision Industries Ltd.	418,694	233,469
Lintes Technology Co. Ltd.	18,000	86,430
Lion Travel Service Co. Ltd. (b)	41,859	163,388
Liton Technology Corp.	52,551	58,525
Long Da Construction & Development Corp.	144,846	105,896
Longchen Paper & Packaging Co. Ltd.	287,972	131,138
Longwell Co. (c)	203,000	388,008
Lumax International Corp. Ltd.	131,689	345,943
Lumosa Therapeutics Co. Ltd. (b)	111,000	214,569
Lung Yen Life Service Corp. (b)	31,000	35,100
LuxNet Corp. (c)	80,000	354,394
M3 Technology, Inc.	30,000	144,050
M31 Technology Corp.	14,628	362,975
Macauto Industrial Co. Ltd.	43,114	105,246
Machvision, Inc.	40,915	257,933
Macroblock, Inc.	9,381	26,533
Macronix International Co. Ltd.	1,562,003	1,531,493
Marketech International Corp.	55,750	238,333
Materials Analysis Technology, Inc. (c)	40,025	326,717
Maxigen Biotech, Inc.	81,000	143,278
Mayer Steel Pipe Corp.	88,796	80,047

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Mechema Chemicals International Corp.	45,803	$ 114,506
Medeon Biodesign, Inc.	51,449	82,719
Medigen Biotechnology Corp. (b)	90,000	94,376
Medigen Vaccine Biologics Corp. (b)(c)	197,000	444,281
Mega Union Technology, Inc.	42,424	182,021
Mercuries & Associates Holding Ltd. (b)	497,693	191,951
Mercuries Life Insurance Co. Ltd. (b)	3,243,030	514,376
Merdury Biopharmaceutical Corp. (b)	180,327	120,104
Merry Electronics Co. Ltd.	123,640	322,884
METAAGE Corp.	60,000	115,426
Microbio Co. Ltd. (c)	321,679	481,315
Microelectronics Technology, Inc. (b)	144,145	167,899
MIN AIK Technology Co. Ltd.	126,736	75,185
Mirle Automation Corp.	271,331	320,246
Mitac Holdings Corp.	977,544	1,234,024
Mobiletron Electronics Co. Ltd. (b)	37,000	65,563
MOSA Industrial Corp.	40,220	32,208
Mosel Vitelic, Inc.	66,289	71,360
Motech Industries, Inc.	237,400	199,669
MPI Corp.	67,095	426,092
MSSCORPS Co. Ltd.	19,158	87,242
Mycenax Biotech, Inc. (b)	194,106	228,498
Nak Sealing Technologies Corp.	43,102	178,921
Namchow Holdings Co. Ltd.	69,215	106,029
Nan Kang Rubber Tire Co. Ltd. (b)	482,204	568,388
Nan Pao Resins Chemical Co. Ltd.	38,000	244,265
Nang Kuang Pharmaceutical Co. Ltd.	84,000	146,764
Nantex Industry Co. Ltd.	252,504	283,163
Netronix, Inc.	58,228	137,451
Nexcom International Co. Ltd.	90,000	132,851
Nichidenbo Corp.	91,000	167,733
North-Star International Co. Ltd.	177,000	323,508
Nuvoton Technology Corp. (c)	154,810	599,472
O-Bank Co. Ltd.	1,085,970	319,932
OBI Pharma, Inc. (b)	192,580	486,215
Ocean Plastics Co. Ltd. (b)	118,000	129,220
OK Biotech Co. Ltd.	218,000	174,235
Optimax Technology Corp.	120,656	113,814
Orient Semiconductor Electronics Ltd.	363,704	473,213
Oriental Union Chemical Corp.	561,500	332,233
O-TA Precision Industry Co. Ltd.	7,105	19,875
Pacific Hospital Supply Co. Ltd.	61,000	157,033

Security Description	Shares	Value
Pan German Universal Motors Ltd.	15,000	$ 142,888
Pan Jit International, Inc.	228,000	452,038
Pan-International Industrial Corp.	485,539	557,278
Panion & BF Biotech, Inc. (c)	53,785	170,783
PChome Online, Inc. (b)	28,320	36,321
PCL Technologies, Inc. (c)	36,795	94,836
P-Duke Technology Co. Ltd.	97,000	301,993
Pegavision Corp.	29,271	352,734
PharmaEngine, Inc.	59,000	158,647
Pharmally International Holding Co. Ltd. (b)(e)	38,461	—
Pharmosa Biopharm, Inc. (b)	48,424	132,159
Phihong Technology Co. Ltd. (b)	221,099	403,424
Phoenix Pioneer Technology Co. Ltd. class C (b)	111,500	56,993
Phoenix Silicon International Corp.	85,156	138,495
Phoenix Tours International, Inc.	31,000	62,998
Phytohealth Corp. (b)	239,493	146,899
Pixart Imaging, Inc.	109,060	408,800
PlayNitride, Inc. (b)	36,000	113,753
Polaris Group (b)(c)	300,000	738,836
Posiflex Technology, Inc.	39,000	126,857
Power Wind Health Industry, Inc.	45,000	179,830
Poya International Co. Ltd.	48,646	726,363
President Securities Corp.	1,354,604	786,816
Primax Electronics Ltd.	391,000	838,190
Prince Housing & Development Corp.	1,154,996	382,846
Princeton Technology Corp.	97,988	88,030
Pro Hawk Corp.	8,000	37,918
Progate Group Corp.	28,000	149,626
Promate Electronic Co. Ltd.	346,000	506,451
Prosperity Dielectrics Co. Ltd. (c)	70,000	99,209
PSS Co. Ltd.	17,682	82,712
Qualipoly Chemical Corp.	26,000	27,828
Quang Viet Enterprise Co. Ltd.	24,000	83,642
Quanta Storage, Inc.	164,000	422,187
Quintain Steel Co. Ltd.	151,309	63,044
Radiant Opto-Electronics Corp.	381,331	1,453,005
Radium Life Tech Co. Ltd. (b)	446,981	119,221
Rafael Microelectronics, Inc.	12,000	48,326
Raydium Semiconductor Corp.	50,349	553,706
RDC Semiconductor Co. Ltd.	10,199	33,333
Rechi Precision Co. Ltd.	162,000	97,610
Rexon Industrial Corp. Ltd. (b)	117,000	155,671
Rich Development Co. Ltd. (b)	162,000	46,923
RichWave Technology Corp. (b)	54,857	245,561
Ritek Corp. (b)	409,693	103,564

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Ruentex Engineering & Construction Co.	39,526	$ 123,058
Run Long Construction Co. Ltd.	123,650	352,022
Sakura Development Co. Ltd.	170,400	219,859
Sampo Corp.	663,221	585,549
San Fang Chemical Industry Co. Ltd.	192,000	156,429
San Fu Chemical Co. Ltd.	89,000	372,206
Sanyang Motor Co. Ltd.	614,945	1,480,189
Savior Lifetec Corp.	159,500	86,469
SCI Pharmtech, Inc.	39,620	117,459
Scientech Corp. (c)	40,639	249,269
ScinoPharm Taiwan Ltd.	179,000	152,491
SciVision Biotech, Inc.	64,000	165,549
SDI Corp.	127,570	420,880
Sea Sonic Electronics Co. Ltd.	29,592	87,638
Senao Networks, Inc. (c)	19,000	153,916
Senhwa Biosciences, Inc. (b)	15,000	19,981
Sensortek Technology Corp.	6,000	71,188
Sercomm Corp.	233,000	887,812
Sesoda Corp.	140,914	135,761
Sheng Yu Steel Co. Ltd.	4,906	3,663
ShenMao Technology, Inc. (c)	62,853	117,994
Shieh Yih Machinery Industry Co. Ltd.	131,000	104,701
Shih Wei Navigation Co. Ltd.	19,605	11,964
Shihlin Paper Corp. (b)	141,558	243,820
Shin Zu Shing Co. Ltd.	127,464	316,681
Shinfox Energy Co. Ltd.	73,477	251,521
Shining Building Business Co. Ltd. (b)	295,127	89,963
Shinkong Insurance Co. Ltd.	357,841	669,556
Shinkong Synthetic Fibers Corp.	1,749,796	829,351
Shiny Brands Group Co. Ltd.	16,000	131,596
Shiny Chemical Industrial Co. Ltd.	129,767	524,608
ShunSin Technology Holding Ltd.	11,000	46,003
Shuttle, Inc. (b)	206,000	103,700
Sigurd Microelectronics Corp.	554,144	985,359
Silicon Integrated Systems Corp. (c)	738,072	863,128
Silicon Motion Technology Corp. ADR (b)	27,200	1,394,000
Silicon Optronics, Inc. (b)	26,000	59,119
Simplo Technology Co. Ltd.	124,000	1,286,845
Sincere Navigation Corp.	91,709	67,474
Sinmag Equipment Corp.	37,271	146,634
Sinon Corp. (c)	492,662	557,823
Sinphar Pharmaceutical Co. Ltd.	263,879	262,812
Sinyi Realty, Inc.	622,828	552,780
Sitronix Technology Corp.	81,000	698,827
Siward Crystal Technology Co. Ltd.	74,000	73,472

Security Description	Shares	Value
Softstar Entertainment, Inc.	71,952	$ 146,443
Soft-World International Corp.	94,848	282,659
Solar Applied Materials Technology Corp.	368,736	416,364
Solomon Technology Corp.	76,000	87,111
Solteam, Inc.	24,530	31,232
Sonix Technology Co. Ltd.	60,123	86,793
Southeast Cement Co. Ltd.	95,000	55,180
Speed Tech Corp.	60,000	97,954
Sporton International, Inc.	52,169	408,069
St Shine Optical Co. Ltd.	34,000	202,754
Standard Chemical & Pharmaceutical Co. Ltd.	61,000	124,908
Standard Foods Corp.	260,000	303,248
Stark Technology, Inc.	84,000	299,252
Starlux Airlines Co. Ltd. (b)	328,271	238,979
SunMax Biotechnology Co. Ltd. (c)	23,000	138,938
Sunny Friend Environmental Technology Co. Ltd.	43,337	152,375
Sunonwealth Electric Machine Industry Co. Ltd.	153,000	552,175
Sunplus Technology Co. Ltd.	355,747	320,145
Superalloy Industrial Co. Ltd.	179,082	324,539
Supreme Electronics Co. Ltd.	399,398	681,738
Swancor Holding Co. Ltd.	53,000	149,573
Symtek Automation Asia Co. Ltd.	24,705	77,680
Syncmold Enterprise Corp.	65,932	130,514
SyneuRx International Taiwan Corp. (b)	58,218	31,020
Synmosa Biopharma Corp.	245,990	289,194
Sysgration (b)	128,760	138,810
Systex Corp.	281,000	922,724
T3EX Global Holdings Corp.	37,518	89,493
Ta Liang Technology Co. Ltd.	1,260	1,983
Ta Ya Electric Wire & Cable	597,291	711,446
TA-I Technology Co. Ltd.	40,000	57,682
TaiDoc Technology Corp.	38,294	176,757
Taiflex Scientific Co. Ltd.	229,699	303,485
Taigen Biopharmaceuticals Holdings Ltd. (b)	312,000	139,663
TaiMed Biologics, Inc. (b)	154,000	421,251
Taimide Tech, Inc.	77,000	97,560
Tainan Spinning Co. Ltd.	1,196,105	544,686
Tainergy Tech Co. Ltd. (b)	111,569	112,328
TaiSol Electronics Co. Ltd.	32,000	61,858
Taisun Enterprise Co. Ltd.	369,549	255,864
Taita Chemical Co. Ltd.	53,243	29,359
TAI-TECH Advanced Electronics Co. Ltd.	40,474	137,294
Taiwan Cogeneration Corp.	790,669	1,012,815
Taiwan FamilyMart Co. Ltd.	22,000	134,261
Taiwan Fertilizer Co. Ltd.	408,000	744,449
Taiwan Fire & Marine Insurance Co. Ltd.	69,000	49,911

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Taiwan FU Hsing Industrial Co. Ltd.	100,000	$ 132,433
Taiwan Glass Industry Corp. (b)	922,000	545,537
Taiwan Hon Chuan Enterprise Co. Ltd.	230,218	752,405
Taiwan Hopax Chemicals Manufacturing Co. Ltd.	110,148	127,958
Taiwan Mask Corp.	144,778	302,289
Taiwan Navigation Co. Ltd.	116,000	105,469
Taiwan Paiho Ltd.	28,000	47,013
Taiwan PCB Techvest Co. Ltd.	202,000	283,159
Taiwan Sakura Corp.	82,283	162,881
Taiwan Secom Co. Ltd.	277,961	917,050
Taiwan Semiconductor Co. Ltd.	176,000	466,164
Taiwan Shin Kong Security Co. Ltd.	196,470	244,062
Taiwan Speciality Chemicals Corp.	71,577	160,092
Taiwan Styrene Monomer (b)	269,373	134,351
Taiwan Surface Mounting Technology Corp.	242,308	690,582
Taiwan TEA Corp. (b)	453,616	297,909
Taiwan Union Technology Corp. (c)	212,000	893,171
Taiwan-Asia Semiconductor Corp.	271,900	399,673
Taiyen Biotech Co. Ltd.	343,979	356,974
TBI Motion Technology Co. Ltd.	23,000	22,800
TCI Co. Ltd.	70,672	395,170
Team Group, Inc.	71,000	141,426
Tehmag Foods Corp.	19,000	168,631
Test Research, Inc.	137,000	258,038
Test Rite International Co. Ltd.	271,896	170,143
Thinking Electronic Industrial Co. Ltd.	48,573	219,689
Thunder Tiger Corp. (b)	109,000	198,209
Thye Ming Industrial Co. Ltd.	146,974	250,417
Tien Li Offshore Wind Technology Co. Ltd. (b)	55,038	100,595
Tigerair Taiwan Co. Ltd. (b)	64,146	59,912
Ton Yi Industrial Corp.	762,000	389,492
Tong Hsing Electronic Industries Ltd. (c)	143,084	660,446
Tong Yang Industry Co. Ltd.	359,872	872,910
Tong-Tai Machine & Tool Co. Ltd.	60,000	31,691
Top Union Electronics Corp.	137,000	140,902
Topco Scientific Co. Ltd.	232,837	1,222,592
Topco Technologies Corp.	14,000	30,055
Topkey Corp.	77,033	397,329
Topoint Technology Co. Ltd.	43,000	36,099
TPK Holding Co. Ltd.	337,000	351,297
Transcend Information, Inc.	151,484	340,693
Tsann Kuen Enterprise Co. Ltd.	42,605	51,804
TSC Auto ID Technology Co. Ltd.	15,732	117,939

Security Description	Shares	Value
TSEC Corp. (c)	373,702	$ 328,200
TSRC Corp.	517,028	378,796
Ttet Union Corp.	17,584	77,079
TTFB Co. Ltd.	21,000	160,035
TTY Biopharm Co. Ltd.	180,436	431,519
Tul Corp. (b)	23,343	58,357
Tung Ho Steel Enterprise Corp.	458,392	861,957
Tung Thih Electronic Co. Ltd. (c)	46,475	188,604
TURVO International Co. Ltd.	34,245	123,059
TXC Corp.	344,080	1,031,798
TYC Brother Industrial Co. Ltd.	99,000	133,715
Tycoons Group Enterprise (b)	209,433	81,423
Tyntek Corp. (b)	145,667	80,549
UDE Corp.	83,000	151,187
Ultra Chip, Inc.	60,000	165,983
U-Ming Marine Transport Corp.	325,000	481,754
Union Bank of Taiwan	2,419,000	996,661
Unitech Printed Circuit Board Corp. (c)	413,024	242,462
United Alloy-Tech Co. (b)	115,000	174,920
United Integrated Services Co. Ltd.	138,183	973,858
United Orthopedic Corp.	78,000	159,719
United Renewable Energy Co. Ltd. (c)	1,167,952	533,675
Unity Opto Technology Co. Ltd. (b)(e)	771,307	—
Universal Cement Corp.	279,130	225,255
Universal Microwave Technology, Inc.	40,963	196,056
Universal Vision Biotechnology Co. Ltd.	34,472	358,811
UPC Technology Corp.	723,632	332,892
UPI Semiconductor Corp.	25,069	191,043
Userjoy Technology Co. Ltd.	32,435	81,488
USI Corp.	923,590	593,686
Utechzone Co. Ltd. (c)	48,244	103,272
Vactronics Technologies, Inc.	36,701	78,563
Ventec International Group Co. Ltd. Class C	32,000	95,562
Via Technologies, Inc.	179,000	657,099
Viking Tech Corp.	68,313	113,218
Visco Vision, Inc.	43,232	264,504
Visual Photonics Epitaxy Co. Ltd.	179,371	822,382
Vivotek, Inc.	21,000	100,184
Vizionfocus, Inc.	20,913	155,485
Wafer Works Corp.	427,418	582,593
Waffer Technology Corp.	98,000	446,276
Wah Lee Industrial Corp.	82,620	238,284
Walsin Technology Corp.	266,000	844,628
Walton Advanced Engineering, Inc.	161,184	66,660
Ways Technical Corp. Ltd. (b)	79,000	72,685
WEI Chih Steel Industrial Co. Ltd.	6,980	5,135

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Wei Chuan Foods Corp.	404,899	$ 231,421
Weikeng Industrial Co. Ltd.	140,998	119,899
Weltrend Semiconductor	121,619	254,311
Win Semiconductors Corp. (c)	328,000	1,310,760
Winstek Semiconductor Co. Ltd.	58,000	158,833
WinWay Technology Co. Ltd.	22,000	462,075
Wisdom Marine Lines Co. Ltd.	325,000	487,794
Wiselink Co. Ltd. (b)	57,000	149,561
Wistron Information Technology & Services Corp.	53,299	194,007
Wistron NeWeb Corp.	251,365	1,074,592
Wonderful Hi-Tech Co. Ltd.	207,000	213,858
Wowprime Corp.	52,066	422,586
WT Microelectronics Co. Ltd.	309,090	1,067,627
WUS Printed Circuit Co. Ltd.	178,187	222,454
XinTec, Inc.	121,000	440,436
Xxentria Technology Materials Corp.	95,700	224,720
Yankey Engineering Co. Ltd.	41,204	334,426
YC INOX Co. Ltd.	205,770	174,022
Yea Shin International Development Co. Ltd.	86,474	69,382
Yem Chio Co. Ltd.	242,629	122,139
Yeong Guan Energy Technology Group Co. Ltd. (b)	49,000	80,147
YFC-Boneagle Electric Co. Ltd.	45,000	40,078
YFY, Inc.	1,084,000	1,093,050
Yieh Phui Enterprise Co. Ltd.	973,000	459,666
Yieh United Steel Corp. (b)	30,737	6,808
Young Fast Optoelectronics Co. Ltd.	42,000	50,092
Young Optics, Inc. (b)	61,000	116,594
Youngtek Electronics Corp.	55,000	96,777
Yuen Foong Yu Consumer Products Co. Ltd.	27,000	32,286
Yungshin Construction & Development Co. Ltd.	21,000	49,767
YungShin Global Holding Corp.	206,000	280,789
Zeng Hsing Industrial Co. Ltd.	38,272	128,046
Zenitron Corp. (c)	415,348	404,662
Zero One Technology Co. Ltd.	94,000	180,251
Zig Sheng Industrial Co. Ltd.	12,260	3,657
ZillTek Technology Corp.	29,727	311,263
Zinwell Corp. (b)	163,000	122,198
Zippy Technology Corp.	29,000	41,235
Zyxel Group Corp.	319,647	495,109
		199,268,723
THAILAND — 3.9%
AAPICO Hitech PCL NVDR	277,544	257,250
Absolute Clean Energy PCL (b)	412,700	18,134
AEON Thana Sinsap Thailand PCL NVDR	84,954	380,295
Amata Corp. PCL	271,300	181,798
AP Thailand PCL NVDR	1,725,822	559,278

Security Description	Shares	Value
Asia Plus Group Holdings PCL NVDR	1,978,255	$ 154,294
Asia Sermkij Leasing PCL (c)	165,144	100,232
Asia Sermkij Leasing PCL NVDR	1,500	910
Aurora Design PCL NVDR	354,700	172,418
Bangchak Corp. PCL NVDR	521,928	587,684
Bangkok Airways PCL NVDR (b)	904,809	387,642
Bangkok Aviation Fuel Services PCL NVDR	335,658	255,805
Bangkok Chain Hospital PCL NVDR	1,115,562	603,545
Bangkok Commercial Asset Management PCL NVDR	901,425	259,937
Bangkok Life Assurance PCL NVDR	401,451	305,946
Banpu Power PCL NVDR (c)	753,171	283,376
BCPG PCL	523,600	138,045
BEC World PCL NVDR	494,196	92,291
Betagro PCL NVDR	648,700	402,626
Beyond Securities PCL NVDR (b)	1,486,269	267,355
Central Plaza Hotel PCL NVDR (b)(c)	607,647	784,330
CH Karnchang PCL NVDR	809,992	462,694
Chayo Group PCL NVDR	651,281	123,415
Chularat Hospital PCL NVDR (c)	7,145,269	639,714
CK Power PCL NVDR (c)	1,992,824	178,417
CPN Retail Growth Leasehold REIT	1,564,500	451,143
Dhipaya Group Holdings PCL NVDR	258,378	264,321
Ditto Thailand PCL NVDR	586,830	439,166
Dohome PCL NVDR	649,982	194,571
Dynasty Ceramic PCL NVDR	949,362	44,323
Eastern Polymer Group PCL NVDR	577,799	104,730
Erawan Group PCL NVDR (b)	1,370,400	206,995
Esso Thailand PCL NVDR	763,698	207,638
Exotic Food PCL NVDR	163,200	127,736
Forth Corp. PCL NVDR	385,268	306,839
Forth Smart Service PCL	502,967	127,771
Frasers Property Thailand Industrial Freehold & Leasehold REIT	1,203,570	340,454
GFPT PCL	337,200	96,310
Gunkul Engineering PCL NVDR (c)	5,446,203	466,657
Hana Microelectronics PCL NVDR	492,381	804,577
Ichitan Group PCL NVDR	822,509	379,489
IMPACT Growth Real Estate Investment Trust	425,700	150,814
Inter Far East Energy Corp. NVDR (b)(e)	283,900	—

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
International Engineering PCL (b)(e)	159,640	$ —
IRPC PCL NVDR	8,770,100	496,159
I-TAIL Corp. PCL NVDR	415,000	231,363
Jasmine International PCL NVDR (b)	4,569,700	261,036
Jasmine Technology Solution PCL NVDR (b)	63,896	51,766
Jaymart Group Holdings PCL NVDR	649,000	406,377
JMT Network Services PCL NVDR	587,700	770,688
KCE Electronics PCL NVDR	484,100	734,542
Kerry Express Thailand PCL (b)	397,800	73,742
KGI Securities Thailand PCL NVDR	1,072,707	131,391
Khon Kaen Sugar Industry PCL	474,300	36,733
Kiatnakin Phatra Bank PCL NVDR	369,135	560,102
Major Cineplex Group PCL NVDR	176,200	67,746
MBK PCL NVDR	444,200	217,144
MC Group PCL NVDR	314,700	116,676
Mega Lifesciences PCL NVDR	503,800	615,698
MK Restaurants Group PCL NVDR	335,459	416,877
Nex Point Parts PCL NVDR (b)	667,411	207,120
Ngern Tid Lor PCL NVDR	1,210,200	691,305
Noble Development PCL Class C, NVDR	284,500	31,878
NR Instant Produce PCL NVDR	470,790	63,354
One Enterprise Public Co. Ltd.	1,495,800	170,068
Origin Property PCL NVDR	1,224,240	334,533
Plan B Media Pcl NVDR	1,499,800	335,692
Precious Shipping PCL	728,379	194,034
Prima Marine PCL NVDR	1,467,336	276,038
Pruksa Holding PCL NVDR	74,800	26,294
PTG Energy PCL NVDR	1,534,799	394,106
Quality Houses PCL NVDR	1,244,200	76,540
R&B Food Supply PCL NVDR	151,900	44,219
Ramkhamhaeng Hospital PCL NVDR	311,900	353,337
Ratchthani Leasing PCL NVDR	2,678,308	223,606
Regional Container Lines PCL	55,900	33,467
Rojana Industrial Park PCL NVDR	991,454	189,237
RS PCL NVDR	614,349	246,330
S Hotels & Resorts PCL NVDR (b)	1,858,676	138,842
Sabuy Technology PCL NVDR	527,577	99,973
Samart Corp. PCL (b)	348,100	48,755
Sansiri PCL NVDR	2,755,500	127,890
Sappe PCL	88,800	198,756
SC Asset Corp. PCL NVDR	1,941,900	207,989
SCGJWD Logistics PCL NVDR	520,471	211,547

Security Description	Shares	Value
Sermsang Power Corp. Co. Ltd. NVDR	553,811	$ 104,945
Siam City Cement PCL NVDR	85,873	314,838
Sikarin PCL NVDR	843,100	266,273
Singer Thailand PCL NVDR	752,801	258,428
Sino-Thai Engineering & Construction PCL NVDR	391,000	100,938
SISB PCL	224,600	192,757
Somboon Advance Technology PCL NVDR (c)	290,897	145,399
SPCG PCL NVDR	466,121	157,454
Sri Trang Agro-Industry PCL NVDR	829,278	334,786
Sri Trang Gloves Thailand PCL NVDR	192,599	35,174
Srinanaporn Marketing PCL NVDR	326,800	186,679
Srisawad Corp. PCL NVDR	580,100	681,065
Star Petroleum Refining PCL NVDR	1,919,001	479,586
Supalai PCL NVDR	843,936	465,860
Super Energy Corp. PCL NVDR (b)	4,501,494	58,104
SVI PCL	404,840	88,945
Synnex Thailand PCL	32,299	10,910
Taokaenoi Food & Marketing PCL Class R, NVDR	605,700	217,911
Thai Union Group PCL NVDR	1,864,600	742,511
Thai Vegetable Oil PCL NVDR	492,499	294,857
Thaicom PCL NVDR	384,479	148,882
Thaifoods Group PCL NVDR	1,115,898	114,616
Thanachart Capital PCL NVDR	452,200	620,941
Thonburi Healthcare Group PCL NVDR (c)	323,744	580,139
Thoresen Thai Agencies PCL (c)	902,417	151,177
Tipco Asphalt PCL NVDR	718,297	317,599
TOA Paint Thailand PCL NVDR	334,343	210,270
TQM Alpha PCL NVDR	160,700	147,846
TTW PCL NVDR	1,132,960	281,587
United Paper PCL	80,600	26,341
VGI PCL NVDR	2,258,266	146,365
Vibhavadi Medical Center PCL NVDR	3,491,300	214,775
WHA Premium Growth Freehold & Leasehold Real Estate InvestmentTrust Class F, REIT	1,229,123	340,931
WHA Utilities & Power PCL NVDR	1,939,350	205,586
		31,068,390
TURKEY — 3.0%
AG Anadolu Grubu Holding AS	95,469	754,628
Ahlatci Dogal Gaz Dagitim Enerji VE Yatirim AS (b)	479,470	246,250
Akcansa Cimento AS	28,439	180,188

See accompanying notes to financial statements.

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September 30, 2023

Security Description	Shares	Value
Akfen Yenilenebilir Enerji AS (b)	289,564	$ 191,177
Aksa Akrilik Kimya Sanayii AS	154,795	579,881
Aksa Enerji Uretim AS	228,328	342,638
Alarko Holding AS	162,217	732,536
Albaraka Turk Katilim Bankasi AS (b)	1,064,179	162,257
Alkim Alkali Kimya AS	85,215	146,154
Anadolu Anonim Turk Sigorta Sirketi (b)	130,756	263,754
Anadolu Isuzu Otomotiv Sanayi Ve Ticaret AS Class C	7,315	68,574
Aygaz AS	46,602	274,869
Baticim Bati Anadolu Cimento Sanayii AS (b)	69,282	220,873
Bera Holding AS	491,999	306,882
Besiktas Futbol Yatirimlari Sanayi ve Ticaret AS (b)	91,953	146,239
Biotrend Cevre VE Enerji Yatirimlari AS (b)	204,438	164,356
Birlesim Muhendislik Isitma Sogutma Havalandirma Sanayi VE Ticaret AS	131,886	180,402
Brisa Bridgestone Sabanci Sanayi ve Ticaret AS	53,441	177,097
Bursa Cimento Fabrikasi AS (b)	559,114	188,445
Can2 Termik AS (b)	15,985	12,315
Cimsa Cimento Sanayi VE Ticaret AS	378,245	572,576
CW Enerji Muhendislik Ticaret VE Sanayi AS (b)	21,780	287,196
D-MARKET Elektronik Hizmetler ve Ticaret AS ADR (b)	129,870	172,727
Dogan Sirketler Grubu Holding AS	1,002,319	488,455
EGE Endustri VE Ticaret AS	1,192	330,460
EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS	210,479	425,334
Emlak Konut Gayrimenkul Yatirim Ortakligi AS REIT	973,230	286,839
Erbosan Erciyas Boru Sanayii ve Ticaret AS	307	2,032
Europen Endustri Insaat Sanayi VE Ticaret AS (b)	216,687	159,976
Europower Enerji VE Otomasyon Teknolojileri Sanayi Ticaret AS (b)	63,768	542,429
Fenerbahce Futbol AS (b)	7,862	29,251
Galata Wind Enerji AS	151,657	180,340
Galatasaray Sportif Sinai ve Ticari Yatirimlar AS (b)	397,001	109,912
GEN Ilac VE Saglik Urunleri Sanayi VE Ticaret AS	56,580	128,990
Girisim Elektrik Taahhut Ticaret Ve Sanayi AS (b)	103,402	396,032

Security Description	Shares	Value
Ipek Dogal Enerji Kaynaklari Arastirma Ve Uretim AS (b)(c)	104,020	$ 174,840
Is Finansal Kiralama AS (b)	263,330	123,428
Is Gayrimenkul Yatirim Ortakligi AS REIT (b)	595,670	514,082
Izmir Demir Celik Sanayi AS (b)	300,014	79,887
Jantsa Jant Sanayi Ve Ticaret AS	16,719	92,453
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS Class D	894,375	963,700
Karsan Otomotiv Sanayii Ve Ticaret AS (b)	139,996	62,759
Kerevitas Gida Sanayi ve Ticaret AS (b)	232,609	106,568
Kiler Holding AS (b)	198,725	276,178
Kimteks Poliuretan Sanayi VE Ticaret AS	58,057	180,746
Kizilbuk Gayrimenkul Yatirim Ortakligi AS REIT (b)	7,336	5,839
Konya Cimento Sanayii AS (b)	651	125,783
Kordsa Teknik Tekstil AS	78,131	282,999
Koza Anadolu Metal Madencilik Isletmeleri AS (b)	177,459	427,222
Koza Polyester Sanayi VE Ticaret AS (b)	52,142	141,790
Kuyumcukent Gayrimenkul Yatirimlari AS REIT (b)	66,963	157,668
Logo Yazilim Sanayi Ve Ticaret AS	60,670	178,038
Margun Enerji Uretim Sanayi VE Ticaret AS	71,534	170,518
Mavi Giyim Sanayi Ve Ticaret AS Class B (d)	186,485	766,619
MIA Teknoloji AS (b)	12,822	242,690
MLP Saglik Hizmetleri AS (b)(d)	121,086	631,599
Nuh Cimento Sanayi AS	44,896	586,276
ODAS Elektrik Uretim ve Sanayi Ticaret AS (b)	776,439	375,263
Otokar Otomotiv Ve Savunma Sanayi AS (b)	34,898	464,500
Oyak Yatirim Menkul Degerler AS (b)	43,701	93,571
Peker Gayrimenkul Yatirim Ortakligi AS REIT (b)	303,802	296,100
Penta Teknoloji Urunleri Dagitim Ticaret AS (b)	11,228	10,042
Petkim Petrokimya Holding AS (b)	1,122,956	804,481
Politeknik Metal Sanayi ve Ticaret AS	582	135,935
Qua Granite Hayal (b)	777,373	187,715
Reysas Tasimacilik ve Lojistik Ticaret AS (b)	202,430	269,661

See accompanying notes to financial statements.

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SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret AS	392,181	$ 571,928
SDT Uzay VE Savunma Teknolojileri AS	11,541	157,865
Sekerbank Turk AS	1,222,700	282,316
Selcuk Ecza Deposu Ticaret ve Sanayi AS	171,698	414,605
Sinpas Gayrimenkul Yatirim Ortakligi AS REIT (b)	320,703	40,241
Smart Gunes Enerjisi Teknolojileri ArGE Uretim Sanayi ve Ticaret AS (b)	116,823	351,130
Sok Marketler Ticaret AS	247,481	525,384
Tat Gida Sanayi AS (b)	129,213	193,336
TAV Havalimanlari Holding AS (b)	108,624	496,465
Tekfen Holding AS	161,579	315,909
Tukas Gida Sanayi ve Ticaret AS (b)	416,682	143,935
Turkiye Sigorta AS	149,541	209,461
Turkiye Sinai Kalkinma Bankasi AS (b)	827,120	244,983
Ulker Biskuvi Sanayi AS (b)	131,083	448,977
Vestel Beyaz Esya Sanayi ve Ticaret AS	289,628	177,908
Vestel Elektronik Sanayi ve Ticaret AS (b)	110,536	255,626
Yeni Gimat Gayrimenkul Ortakligi AS REIT	87,367	128,557
YEO Teknoloji Enerji VE Endustri AS (b)	24,918	229,502
Ziraat Gayrimenkul Yatirim Ortakligi AS REIT	415,471	82,746
Zorlu Enerji Elektrik Uretim AS (b)	1,043,623	216,985
		23,868,873
UNITED ARAB EMIRATES — 0.8%
Agthia Group PJSC	203,718	260,121
Ajman Bank PJSC (b)	794,262	488,703
Al Waha Capital PJSC	671,177	303,332
AL Yah Satellite Communications Co-PJSC-Yah Sat	793,193	578,744
Amanat Holdings PJSC	1,246,901	356,447
Amlak Finance PJSC (b)	558,898	127,816
Arabtec Holding PJSC (b)(e)	483,581	—
Aramex PJSC	297,089	173,899
Dana Gas PJSC	5,071,492	1,216,424
Deyaar Development PJSC (b)	2,855,268	523,161
Eshraq Investments PJSC (b)	1,609,385	222,585
Gulf Navigation Holding PJSC (b)	244,335	492,256
Invictus Investment Co. PLC	302,476	214,110
Manazel PJSC (b)	1,482,346	159,815
Orascom Construction PLC	23,629	107,829
RAK Properties PJSC (b)	990,533	312,824
Ras Al Khaimah Ceramics	360,042	254,859

Security Description	Shares	Value
Shuaa Capital PSC (b)	359,932	$ 33,318
Taaleem Holdings PJSC (b)	262,145	283,338
Union Properties PJSC (b)	1,926,158	202,944
Yalla Group Ltd. ADR (b)(c)	53,000	277,720
		6,590,245
UNITED STATES — 0.3%
Ambrx Biopharma, Inc. ADR (b)	34,200	393,300
Belite Bio, Inc. ADR (b)	5,165	163,188
CBAK Energy Technology, Inc. (b)(c)	18,471	15,128
JS Global Lifestyle Co. Ltd. (c)(d)	1,219,500	202,424
Seanergy Maritime Holdings Corp.	15,414	85,085
Sirnaomics Ltd. (b)(d)	64,050	418,721
Structure Therapeutics, Inc. ADR (b)(c)	9,860	497,141
Titan Cement International SA	33,803	633,465
		2,408,452
TOTAL COMMON STOCKS (Cost $749,006,206)		787,455,664


PREFERRED STOCKS — 0.1%
BRAZIL — 0.1%
Track & Field Co. SA, 1.97%%	44,600	117,800
Usinas Siderurgicas de Minas Gerais SA Usiminas Class A, Preference Shares 4.95%%	458,000	607,591
		725,391
INDIA — 0.0% (a)
Sundaram-Clayton DCD Ltd., (b)	3,579	86
TVS Holdings Ltd., (b)	3,578,600	44,602
		44,688
TOTAL PREFERRED STOCKS (Cost $803,796)		770,079
RIGHTS — 0.0% (a)
BRAZIL — 0.0% (a)
Gol Linhas Aereas Inteligentes SA (expiring 10/16/23) (b)	667,882	102,747
THAILAND — 0.0% (a)
Sav Rates Rec (F) (expiring 10/31/23) (b)(e)	3,481	—
WHA Industrial Leasehold REIT (expiring 10/31/23) (b)(e)	15,506	—

See accompanying notes to financial statements.

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SPDR S&P EMERGING MARKETS SMALL CAP ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
WHA Premium Growth Freehold & Leasehold Real Estate InvestmentTrust (expiring date 10/31/23) (b)(e)	63,745	$ —
		—
TOTAL RIGHTS (Cost $0)		102,747
WARRANTS — 0.0% (a)
BRAZIL — 0.0% (a)
CVC Brasil Operadora e Agencia de Viagens SA (expiring 11/21/23) (b)	49,015	2,448
MALAYSIA — 0.0% (a)
Eco World Development Group Bhd (expiring 04/12/29) (b)	49,240	2,570
THAILAND — 0.0% (a)
Kiatnakin Phatra Bank PCL (expiring 03/17/24) (b)	27,203	433
Kiatnakin Phatra Bank PCL (expiring 03/17/26) (b)	27,203	2,211
Next Capital PCL (expiring 12/21/23) (b)	77,317	43
VGI PCL (expiring 05/23/27) (b)	1,159,330	4,139
		6,826
TOTAL WARRANTS (Cost $0)		11,844
SHORT-TERM INVESTMENTS — 2.1%
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (g)(h)	3,142,304	3,142,933
State Street Navigator Securities Lending Portfolio II (i)(j)	13,157,590	13,157,590
TOTAL SHORT-TERM INVESTMENTS (Cost $16,300,523)		16,300,523
TOTAL INVESTMENTS — 101.5% (Cost $766,110,525)		804,640,857
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.5)%		(11,819,633)
NET ASSETS — 100.0%		$ 792,821,224

(a)	Amount is less than 0.05% of net assets.
(b)	Non-income producing security.
(c)	All or a portion of the shares of the security are on loan at September 30, 2023.
(d)	Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 4.1% of net assets as of September 30, 2023, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(e)	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 September 30, 2023, total aggregate fair value of the security is $317,482, representing 0.04% of the Fund's net assets.
(f)	Reflects separate holdings of the issuer's common stock traded on different securities exchanges.
(g)	The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(h)	The rate shown is the annualized seven-day yield at September 30, 2023.
(i)	The Fund invested in an affiliated entity. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(j)	Investment of cash collateral for securities loaned.

ADR	American Depositary Receipt
GDR	Global Depositary Receipt
NVDR	Non-Voting Depositary Receipt
REIT	Real Estate Investment Trust

At September 30, 2023, open futures contracts were as follows:

Description		Number of Contracts		Expiration Date		Notional Amount		Value		Unrealized Appreciation (Depreciation)
E-mini MSCI Emerging Markets (long)		174		12/15/2023		$8,568,337		$8,312,405		$(255,932)

See accompanying notes to financial statements.

211

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SPDR S&P EMERGING MARKETS SMALL CAP ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of September 30, 2023.

Description	Level 1 – Quoted Prices	Level 2 – Other Significant Observable Inputs	Level 3 – Significant Unobservable Inputs	Total
ASSETS:
INVESTMENTS:
Common Stocks	$782,898,897	$4,239,285	$317,482	$787,455,664
Preferred Stocks	725,391	44,688	—	770,079
Rights	—	102,747	0(a)	102,747
Warrants	11,844	—	—	11,844
Short-Term Investments	16,300,523	—	—	16,300,523
TOTAL INVESTMENTS	$799,936,655	$4,386,720	$317,482	$804,640,857
OTHER FINANCIAL INSTRUMENTS:
Futures Contracts - Unrealized Depreciation	$ (255,932)	$ —	$ —	$ (255,932)
TOTAL OTHER FINANCIAL INSTRUMENTS:	$ (255,932)	$ —	$ —	$ (255,932)

(a)	The Fund held Level 3 securities that were valued at $0 at September 30, 2023.

Sector Breakdown as of September 30, 2023


		% of Net Assets
	Information Technology	17.8
	Industrials	17.3
	Materials	13.2
	Consumer Discretionary	11.8
	Health Care	9.4
	Financials	8.7
	Consumer Staples	6.4
	Real Estate	6.1
	Communication Services	3.5
	Utilities	2.7
	Energy	2.5
	Short-Term Investments	2.1
	Liabilities in Excess of Other Assets	(1.5)
	TOTAL	100.0

(The Fund's sector breakdown is expressed as a percentage of net assets and may change over time.)

Affiliate Table

	Number of Shares Held at 9/30/22	Value at 9/30/22	Cost of Purchases	Proceeds from Shares Sold	Realized Gain (Loss)	Change in Unrealized Appreciation/ Depreciation	Number of Shares Held at 9/30/23	Value at 9/30/23	Dividend Income
State Street Institutional Liquid Reserves Fund, Premier Class	—	$ —	$ 83,727,253	$ 80,585,491	$1,171	$—	3,142,304	$ 3,142,933	$ 91,502
State Street Navigator Securities Lending Portfolio II	15,730,566	15,730,566	73,988,185	76,561,161	—	—	13,157,590	13,157,590	391,798
Total		$15,730,566	$157,715,438	$157,146,652	$1,171	$—		$16,300,523	$483,300

See accompanying notes to financial statements.

213

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SPDR S&P GLOBAL DIVIDEND ETF

SCHEDULE OF INVESTMENTS

September 30, 2023

Security Description	Shares	Value
COMMON STOCKS — 98.6%
AUSTRALIA — 0.8%
APA Group Stapled Security	319,866	$ 1,713,464
CANADA — 21.8%
Allied Properties Real Estate Investment Trust	149,046	1,976,623
Bank of Montreal	19,271	1,633,189
Bank of Nova Scotia	48,960	2,204,648
BCE, Inc. (a)	62,502	2,396,989
Canadian Imperial Bank of Commerce	58,196	2,256,817
Canadian Tire Corp. Ltd. Class A (a)	19,802	2,139,114
Canadian Utilities Ltd. Class A	80,674	1,712,532
Canadian Western Bank (a)	107,738	2,242,417
Capital Power Corp. (a)	69,892	1,960,284
Emera, Inc. (a)	62,055	2,176,515
Great-West Lifeco, Inc. (a)	99,462	2,858,797
IGM Financial, Inc. (a)	78,831	2,008,675
Keyera Corp. (a)	131,076	3,091,726
Manulife Financial Corp. (a)	117,013	2,148,123
Pembina Pipeline Corp. (a)	74,122	2,239,011
Power Corp. of Canada (a)	96,078	2,457,380
Russel Metals, Inc. (a)	110,793	3,115,643
SmartCentres Real Estate Investment Trust	153,886	2,590,566
TC Energy Corp. (a)	72,457	2,503,304
TELUS Corp. (b)	112,957	1,853,096
TELUS Corp. (b)(c)	6,221	102,058
		45,667,507
CHINA — 3.6%
Guangdong Investment Ltd.	3,124,387	2,385,622
Lenovo Group Ltd.	3,482,000	3,587,880
Ping An Insurance Group Co. of China Ltd. Class H	281,500	1,612,043
		7,585,545
FRANCE — 1.5%
Bouygues SA	92,763	3,254,773
GERMANY — 3.4%
Allianz SE	9,090	2,172,145
BASF SE	60,162	2,735,765
Deutsche Post AG	55,352	2,258,303
		7,166,213
HONG KONG — 8.2%
CK Infrastructure Holdings Ltd.	509,303	2,409,351
Henderson Land Development Co. Ltd.	813,883	2,145,941
Hongkong Land Holdings Ltd.	464,700	1,658,979
New World Development Co. Ltd.	1,443,337	2,808,590
Power Assets Holdings Ltd.	548,053	2,652,146
Sino Land Co. Ltd.	2,053,264	2,314,947
Sun Hung Kai Properties Ltd.	151,739	1,623,592

Security Description	Shares	Value
Swire Properties Ltd.	794,000	$ 1,656,564
		17,270,110
ITALY — 2.9%
A2A SpA	2,338,671	4,174,651
Terna - Rete Elettrica Nazionale	255,552	1,928,592
		6,103,243
JAPAN — 17.8%
COMSYS Holdings Corp. (a)	110,500	2,314,780
ENEOS Holdings, Inc. (a)	635,793	2,513,347
EXEO Group, Inc. (a)	121,100	2,486,516
JAFCO Group Co. Ltd.	148,800	1,640,315
Japan Metropolitan Fund Invest REIT	2,652	1,723,867
Lixil Corp. (a)	131,700	1,536,978
Mitsubishi Gas Chemical Co., Inc.	146,900	1,981,144
Mitsui Mining & Smelting Co. Ltd. (a)	83,100	2,113,349
MS&AD Insurance Group Holdings, Inc.	59,854	2,204,039
SBI Holdings, Inc.	116,710	2,462,075
Sekisui House Ltd.	110,900	2,212,426
Sumitomo Forestry Co. Ltd.	138,300	3,527,357
Sumitomo Mitsui Trust Holdings, Inc.	48,804	1,841,617
Takeda Pharmaceutical Co. Ltd.	63,706	1,981,300
Toyo Seikan Group Holdings Ltd.	204,000	3,345,887
Toyo Tire Corp.	218,500	3,370,662
		37,255,659
NORWAY — 1.0%
Orkla ASA	266,729	2,004,820
SAUDI ARABIA — 1.0%
Saudi Telecom Co.	204,223	2,047,430
SINGAPORE — 1.3%
Singapore Technologies Engineering Ltd.	942,837	2,700,925
SOUTH KOREA — 1.0%
KT&G Corp.	32,555	2,082,034
SWITZERLAND — 6.9%
Adecco Group AG	105,131	4,339,469
Baloise Holding AG	12,170	1,768,029
Helvetia Holding AG	16,531	2,320,267
Swiss Life Holding AG	3,622	2,263,156
Swisscom AG	3,479	2,069,602
Zurich Insurance Group AG	3,838	1,762,510
		14,523,033
TAIWAN — 0.9%
Vanguard International Semiconductor Corp.	894,000	1,883,242

See accompanying notes to financial statements.

214

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SPDR S&P GLOBAL DIVIDEND ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
UNITED KINGDOM — 7.0%
British American Tobacco PLC	80,183	$ 2,522,041
DCC PLC	36,867	2,073,958
IG Group Holdings PLC	234,667	1,843,130
Legal & General Group PLC	960,048	2,607,225
Primary Health Properties PLC REIT (a)	1,906,817	2,164,450
Schroders PLC	329,791	1,639,087
United Utilities Group PLC	159,023	1,840,413
		14,690,304
UNITED STATES — 19.5%
3M Co.	19,387	1,815,011
Boston Properties, Inc. REIT	38,307	2,278,500
Digital Realty Trust, Inc. REIT	21,418	2,592,006
Getty Realty Corp. REIT	67,371	1,868,198
Highwoods Properties, Inc. REIT	115,012	2,370,397
Holcim AG	37,804	2,429,076
Janus Henderson Group PLC	103,757	2,679,006
Lazard Ltd. Class A	58,698	1,820,225
Leggett & Platt, Inc.	74,889	1,902,930
LTC Properties, Inc. REIT	81,185	2,608,474
LyondellBasell Industries NV Class A	29,183	2,763,630
Northwest Bancshares, Inc.	168,757	1,726,384
Philip Morris International, Inc.	23,208	2,148,597
Seagate Technology Holdings PLC	42,168	2,780,980
Universal Corp.	51,681	2,439,860
Verizon Communications, Inc.	77,785	2,521,012
Walgreens Boots Alliance, Inc.	66,807	1,485,788
Western Union Co.	195,538	2,577,191
		40,807,265
TOTAL COMMON STOCKS (Cost $238,277,064)		206,755,567

Security Description	Shares	Value
SHORT-TERM INVESTMENTS — 10.3%
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (d)(e)	789,646	$ 789,804
State Street Navigator Securities Lending Portfolio II (f)(g)	20,930,864	20,930,864
TOTAL SHORT-TERM INVESTMENTS (Cost $21,761,727)		21,720,668
TOTAL INVESTMENTS — 108.9% (Cost $260,038,791)		228,476,235
LIABILITIES IN EXCESS OF OTHER ASSETS — (8.9)%		(18,746,670)
NET ASSETS — 100.0%		$ 209,729,565

(a)	All or a portion of the shares of the security are on loan at September 30, 2023.
(b)	Reflects separate holdings of the issuer's common stock traded on different securities exchanges.
(c)	Non-income producing security.
(d)	The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(e)	The rate shown is the annualized seven-day yield at September 30, 2023.
(f)	The Fund invested in an affiliated entity. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(g)	Investment of cash collateral for securities loaned.

REIT	Real Estate Investment Trust

At September 30, 2023, open futures contracts were as follows:

Description	Number of Contracts	Expiration Date	Notional Amount	Value	Unrealized Appreciation (Depreciation)
S&P/TSX 60 Index (long)	4	12/14/2023	$ 714,428	$ 696,036	$(18,392)
MSCI EAFE Index (long)	14	12/15/2023	1,466,322	1,429,050	(37,272)
E-mini S&P 500 Index (long)	3	12/15/2023	677,328	648,825	(28,503)
					$(84,167)

During the year ended September 30, 2023, average notional value related to futures contracts was $2,193,033.

See accompanying notes to financial statements.

215

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SPDR S&P GLOBAL DIVIDEND ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of September 30, 2023.

Description	Level 1 – Quoted Prices	Level 2 – Other Significant Observable Inputs	Level 3 – Significant Unobservable Inputs	Total
ASSETS:
INVESTMENTS:
Common Stocks	$206,653,509	$102,058	$—	$206,755,567
Short-Term Investments	21,720,668	—	—	21,720,668
TOTAL INVESTMENTS	$228,374,177	$102,058	$—	$228,476,235
OTHER FINANCIAL INSTRUMENTS:
Futures Contracts - Unrealized Depreciation	$ (84,167)	$ —	$—	$ (84,167)
TOTAL OTHER FINANCIAL INSTRUMENTS:	$ (84,167)	$ —	$—	$ (84,167)

Sector Breakdown as of September 30, 2023


		% of Net Assets
	Financials	25.2
	Real Estate	15.4
	Industrials	12.4
	Utilities	10.9
	Materials	7.3
	Consumer Discretionary	6.3
	Consumer Staples	6.1
	Communication Services	5.2
	Energy	4.9
	Information Technology	3.9
	Health Care	1.0
	Short-Term Investments	10.3
	Liabilities in Excess of Other Assets	(8.9)
	TOTAL	100.0

(The Fund's sector breakdown is expressed as a percentage of net assets and may change over time.)

Affiliate Table

	Number of Shares Held at 9/30/22	Value at 9/30/22	Cost of Purchases	Proceeds from Shares Sold	Realized Gain (Loss)	Change in Unrealized Appreciation/ Depreciation	Number of Shares Held at 9/30/23	Value at 9/30/23	Dividend Income
State Street Institutional Liquid Reserves Fund, Premier Class	242,824	$ 242,873	$ 31,572,641	$ 31,025,799	$41,182	$(41,093)	789,646	$ 789,804	$ 39,660
State Street Navigator Securities Lending Portfolio II	19,491,595	19,491,595	110,302,806	108,863,537	—	—	20,930,864	20,930,864	96,129
Total		$19,734,468	$141,875,447	$139,889,336	$41,182	$(41,093)		$21,720,668	$135,789

See accompanying notes to financial statements.

216

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SPDR S&P GLOBAL INFRASTRUCTURE ETF

SCHEDULE OF INVESTMENTS

September 30, 2023

Security Description	Shares	Value
COMMON STOCKS — 99.5%
ARGENTINA — 0.2%
Corp. America Airports SA (a)	61,629	$ 822,131
AUSTRALIA — 8.9%
Atlas Arteria Ltd. Stapled Security	2,373,688	8,471,838
Dalrymple Bay Infrastructure Ltd.	530,340	958,388
Qube Holdings Ltd.	3,703,767	6,860,479
Transurban Group Stapled Security	2,566,912	21,023,329
		37,314,034
BRAZIL — 1.0%
Centrais Eletricas Brasileiras SA ADR	193,250	1,412,658
Cia de Saneamento Basico do Estado de Sao Paulo SABESP ADR	63,867	774,068
Cia Energetica de Minas Gerais ADR	273,893	662,821
Cia Paranaense de Energia ADR	69,200	606,884
Ultrapar Participacoes SA ADR	199,100	730,697
		4,187,128
CANADA — 8.7%
Enbridge, Inc.	580,014	19,326,650
Keyera Corp. (b)	62,943	1,484,654
Pembina Pipeline Corp. (b)	150,803	4,555,321
TC Energy Corp.	282,692	9,766,674
Westshore Terminals Investment Corp.	72,108	1,343,492
		36,476,791
CHINA — 4.7%
Anhui Expressway Co. Ltd. Class H	630,000	658,810
Beijing Capital International Airport Co. Ltd. Class H (a)	3,626,000	1,680,622
CGN Power Co. Ltd. Class H (c)	1,982,000	513,730
China Gas Holdings Ltd.	549,000	518,027
China Longyuan Power Group Corp. Ltd. Class H	624,000	543,381
China Merchants Port Holdings Co. Ltd.	2,685,354	3,343,042
China Resources Gas Group Ltd.	168,700	494,349
China Resources Power Holdings Co. Ltd.	332,000	633,322
COSCO SHIPPING International Hong Kong Co. Ltd.	892,000	384,961
COSCO SHIPPING Ports Ltd.	3,084,243	2,016,295
Jiangsu Expressway Co. Ltd. Class H	2,564,000	2,314,585
Kunlun Energy Co. Ltd.	744,000	641,228

Security Description	Shares	Value
Shenzhen Expressway Corp. Ltd. Class H	1,286,000	$ 1,050,888
Shenzhen International Holdings Ltd.	2,810,930	1,733,536
Yuexiu Transport Infrastructure Ltd.	1,966,000	1,041,759
Zhejiang Expressway Co. Ltd. Class H (b)	2,466,000	1,838,830
		19,407,365
FRANCE — 6.2%
Aeroports de Paris SA	83,030	9,836,907
Engie SA	327,719	5,041,511
Getlink SE	680,653	10,888,891
		25,767,309
GERMANY — 3.3%
E.ON SE	419,623	4,975,890
Fraport AG Frankfurt Airport Services Worldwide (a)	75,644	4,023,625
RWE AG	126,515	4,708,264
		13,707,779
HONG KONG — 0.4%
Hutchison Port Holdings Trust Stapled Security	10,415,000	1,791,380
ITALY — 2.6%
Enav SpA (c)	534,076	1,981,347
Enel SpA	1,444,148	8,898,732
		10,880,079
JAPAN — 2.2%
Iwatani Corp.	14,600	737,216
Japan Airport Terminal Co. Ltd.	195,400	8,297,871
		9,035,087
MEXICO — 7.0%
Grupo Aeroportuario del Centro Norte SAB de CV ADR	72,279	6,281,768
Grupo Aeroportuario del Pacifico SAB de CV ADR (b)	82,175	13,507,104
Grupo Aeroportuario del Sureste SAB de CV ADR	38,373	9,428,630
		29,217,502
MONACO — 0.2%
Scorpio Tankers, Inc.	13,200	714,384
NEW ZEALAND — 3.1%
Auckland International Airport Ltd.	2,749,484	13,067,536
SINGAPORE — 1.2%
SATS Ltd. (a)	2,188,821	4,169,488
SIA Engineering Co. Ltd.	538,200	942,412
		5,111,900
SOUTH KOREA — 0.0% (d)
Sebang Co. Ltd.	19,579	160,039

See accompanying notes to financial statements.

217

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SPDR S&P GLOBAL INFRASTRUCTURE ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
SPAIN — 8.0%
Aena SME SA (c)	142,164	$ 21,463,602
Iberdrola SA	1,080,073	12,115,672
		33,579,274
SWITZERLAND — 1.8%
Flughafen Zurich AG	39,927	7,629,252
UNITED KINGDOM — 2.0%
National Grid PLC	691,456	8,270,773
UNITED STATES — 38.0%
American Electric Power Co., Inc.	96,271	7,241,505
American Water Works Co., Inc.	36,408	4,508,403
Antero Midstream Corp.	93,500	1,120,130
Cheniere Energy, Inc.	66,100	10,969,956
Consolidated Edison, Inc.	64,447	5,512,152
Constellation Energy Corp.	60,100	6,555,708
Dominion Energy, Inc.	156,434	6,987,907
DT Midstream, Inc.	26,588	1,407,037
Duke Energy Corp.	144,079	12,716,412
Edison International	71,619	4,532,766
Equitrans Midstream Corp.	118,938	1,114,449
Exelon Corp.	186,047	7,030,716
Kinder Morgan, Inc.	532,358	8,826,496
NextEra Energy, Inc.	325,200	18,630,708
ONEOK, Inc.	122,929	7,797,386
Public Service Enterprise Group, Inc.	93,279	5,308,508
Sempra	117,600	8,000,328
Southern Co.	203,785	13,188,965
Targa Resources Corp.	61,449	5,267,408
WEC Energy Group, Inc.	58,981	4,750,920
Williams Cos., Inc.	334,054	11,254,279
Xcel Energy, Inc.	103,055	5,896,807
		158,618,946
TOTAL COMMON STOCKS (Cost $450,111,624)		415,758,689

Security Description	Shares	Value
SHORT-TERM INVESTMENTS — 2.2%
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (e)(f)	1,368,672	$ 1,368,945
State Street Navigator Securities Lending Portfolio II (g)(h)	7,690,543	7,690,543
TOTAL SHORT-TERM INVESTMENTS (Cost $9,059,488)		9,059,488
TOTAL INVESTMENTS — 101.7% (Cost $459,171,112)		424,818,177
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.7)%		(7,015,667)
NET ASSETS — 100.0%		$ 417,802,510

(a)	Non-income producing security.
(b)	All or a portion of the shares of the security are on loan at September 30, 2023.
(c)	Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 5.7% of net assets as of September 30, 2023, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(d)	Amount is less than 0.05% of net assets.
(e)	The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(f)	The rate shown is the annualized seven-day yield at September 30, 2023.
(g)	The Fund invested in an affiliated entity. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(h)	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 September 30, 2023.

Description	Level 1 – Quoted Prices	Level 2 – Other Significant Observable Inputs	Level 3 – Significant Unobservable Inputs	Total
ASSETS:
INVESTMENTS:
Common Stocks	$415,758,689	$—	$—	$415,758,689
Short-Term Investments	9,059,488	—	—	9,059,488
TOTAL INVESTMENTS	$424,818,177	$—	$—	$424,818,177

See accompanying notes to financial statements.

218

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SPDR S&P INTERNATIONAL DIVIDEND ETF

SCHEDULE OF INVESTMENTS

September 30, 2023

Security Description	Shares	Value
COMMON STOCKS — 99.0%
AUSTRALIA — 4.8%
APA Group Stapled Security	1,048,269	$ 5,615,387
Coles Group Ltd.	391,805	3,934,671
GPT Group REIT	2,404,726	6,052,839
Metcash Ltd.	1,957,670	4,775,955
Sonic Healthcare Ltd.	161,016	3,096,807
		23,475,659
CANADA — 14.0%
Atco Ltd. Class I (a)	109,165	2,777,571
BCE, Inc. (a)	189,297	7,259,652
Canadian Utilities Ltd. Class A	267,838	5,685,614
Emera, Inc. (a)	160,578	5,632,107
Fortis, Inc. (a)	119,754	4,569,607
Gibson Energy, Inc. (a)	408,250	5,867,084
Hydro One Ltd. (a)(b)	138,223	3,535,319
Northland Power, Inc. (a)	281,219	4,601,009
Parkland Corp. (a)	172,319	5,063,783
Rogers Communications, Inc. Class B	98,797	3,810,846
Sun Life Financial, Inc. (a)	106,558	5,223,076
TC Energy Corp. (a)	232,086	8,018,297
TELUS Corp. (c)	378,124	6,203,247
TELUS Corp. (c)(d)	16,372	268,588
		68,515,800
CHINA — 0.7%
CGN Power Co. Ltd. Class H (b)	13,391,000	3,470,921
FINLAND — 2.0%
Elisa Oyj	107,580	4,999,085
Orion Oyj Class B	129,584	5,106,475
		10,105,560
FRANCE — 2.7%
Bouygues SA	221,902	7,785,870
Gecina SA REIT	52,031	5,329,747
		13,115,617
GERMANY — 2.0%
Allianz SE	29,921	7,149,919
Telefonica Deutschland Holding AG	1,560,806	2,800,993
		9,950,912
HONG KONG — 3.0%
HKT Trust & HKT Ltd. Stapled Security	2,627,000	2,743,778
Power Assets Holdings Ltd.	1,310,500	6,341,790
Sun Hung Kai Properties Ltd.	542,000	5,799,345
		14,884,913
ITALY — 3.2%
Italgas SpA	794,146	4,079,572
Snam SpA	1,433,929	6,754,349

Security Description	Shares	Value
Terna - Rete Elettrica Nazionale	622,379	$ 4,696,951
		15,530,872
JAPAN — 23.3%
Advance Residence Investment Corp. REIT	1,700	3,861,953
Astellas Pharma, Inc.	253,000	3,516,314
Chiba Bank Ltd.	605,500	4,412,674
Concordia Financial Group Ltd.	1,072,800	4,899,402
Daiwa House Industry Co. Ltd.	173,600	4,670,826
Daiwa House REIT Investment Corp.	2,377	4,202,061
DIC Corp.	157,200	2,558,286
Hachijuni Bank Ltd. (a)	597,000	3,300,153
Japan Real Estate Investment Corp. REIT	1,354	5,289,878
Kajima Corp.	281,200	4,585,694
Kirin Holdings Co. Ltd.	306,500	4,298,908
Kuraray Co. Ltd.	459,200	5,449,778
MS&AD Insurance Group Holdings, Inc. (a)	144,400	5,317,326
Nippon Building Fund, Inc. REIT	1,215	4,934,093
Nippon Prologis REIT, Inc.	2,128	3,981,488
Obayashi Corp.	505,800	4,462,293
Osaka Gas Co. Ltd.	237,200	3,913,462
Sankyu, Inc.	91,600	3,174,157
Sekisui Chemical Co. Ltd.	263,600	3,803,188
Sekisui House Ltd.	244,400	4,875,717
Sekisui House REIT, Inc.	5,422	3,026,655
Seven Bank Ltd. (a)	2,492,400	5,192,744
Shizuoka Financial Group, Inc.	500,400	4,087,704
SoftBank Corp. (a)	680,800	7,712,464
Takeda Pharmaceutical Co. Ltd. (a)	173,000	5,380,419
USS Co. Ltd.	222,700	3,689,903
		114,597,540
MALAYSIA — 0.9%
Tenaga Nasional Bhd	2,144,400	4,562,602
NEW ZEALAND — 0.6%
Spark New Zealand Ltd.	954,133	2,757,529
NORWAY — 0.7%
Orkla ASA	440,079	3,307,773
PORTUGAL — 1.0%
EDP - Energias de Portugal SA	1,186,809	4,945,718
RUSSIA — 0.0%
Inter RAO UES PJSC (d)(e)	71,668,770	—
SINGAPORE — 4.5%
Mapletree Logistics Trust REIT	5,817,400	7,160,401
Singapore Exchange Ltd.	622,700	4,448,183
Singapore Technologies Engineering Ltd.	2,106,900	6,035,592
Venture Corp. Ltd.	480,500	4,354,740
		21,998,916

See accompanying notes to financial statements.

220

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SPDR S&P INTERNATIONAL DIVIDEND ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

Security Description	Shares	Value
SOUTH AFRICA — 0.7%
Shoprite Holdings Ltd. (a)	273,828	$ 3,486,040
SOUTH KOREA — 2.8%
Korea Zinc Co. Ltd.	14,845	5,566,600
KT&G Corp.	125,025	7,995,893
		13,562,493
SPAIN — 3.7%
Enagas SA	383,844	6,372,271
Iberdrola SA	405,547	4,549,206
Redeia Corp. SA	453,890	7,157,883
		18,079,360
SWITZERLAND — 9.1%
Baloise Holding AG	48,380	7,028,533
DKSH Holding AG	34,154	2,316,633
Galenica AG (b)	49,211	3,644,562
Novartis AG	45,238	4,641,988
PSP Swiss Property AG	42,528	5,030,093
SGS SA	54,152	4,559,234
Swiss Prime Site AG	60,753	5,575,223
Swisscom AG	8,176	4,863,773
Zurich Insurance Group AG	15,562	7,146,476
		44,806,515
TAIWAN — 6.3%
Asia Cement Corp.	2,379,000	2,929,485
Chicony Electronics Co. Ltd.	1,128,000	4,035,997
Chunghwa Telecom Co. Ltd.	1,452,000	5,217,763
Radiant Opto-Electronics Corp.	1,190,000	4,534,316
Taiwan Mobile Co. Ltd.	1,620,000	4,747,510
Uni-President Enterprises Corp.	1,922,000	4,173,795
Zhen Ding Technology Holding Ltd.	1,770,000	5,395,456
		31,034,322
THAILAND — 1.6%
Advanced Info Service PCL NVDR	742,100	4,646,723
Home Product Center PCL NVDR	8,805,599	3,022,863
		7,669,586
UNITED KINGDOM — 7.9%
British American Tobacco PLC	330,916	10,408,488
IG Group Holdings PLC	347,822	2,731,876
National Grid PLC	530,520	6,345,755
Reckitt Benckiser Group PLC	54,712	3,869,159
Severn Trent PLC	169,646	4,897,001
Unilever PLC	93,644	4,642,750
United Utilities Group PLC	494,873	5,727,290
		38,622,319
UNITED STATES — 3.5%
Holcim AG	80,494	5,172,100

Security Description	Shares	Value
Nestle SA	30,470	$ 3,455,354
Roche Holding AG	14,680	4,019,027
Sanofi	44,252	4,754,522
		17,401,003
TOTAL COMMON STOCKS (Cost $516,559,271)		485,881,970


SHORT-TERM INVESTMENTS — 6.5%
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (f)(g)	258,757	258,809
State Street Navigator Securities Lending Portfolio II (h)(i)	31,486,306	31,486,306
TOTAL SHORT-TERM INVESTMENTS (Cost $31,745,115)		31,745,115
TOTAL INVESTMENTS — 105.5% (Cost $548,304,386)		517,627,085
LIABILITIES IN EXCESS OF OTHER ASSETS — (5.5)%		(27,031,960)
NET ASSETS — 100.0%		$ 490,595,125

(a)	All or a portion of the shares of the security are on loan at September 30, 2023.
(b)	Securities purchased pursuant to Rule 144A of the Securities Act of 1933, as amended. These securities, which represent 2.2% of net assets as of September 30, 2023, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
(c)	Reflects separate holdings of the issuer's common stock traded on different securities exchanges.
(d)	Non-income producing security.
(e)	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 September 30, 2023, total aggregate fair value of the security is $0, representing 0.00% of the Fund's net assets.
(f)	The Fund invested in certain money market funds managed by SSGA Funds Management, Inc. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(g)	The rate shown is the annualized seven-day yield at September 30, 2023.
(h)	The Fund invested in an affiliated entity. Amounts related to these investments during the year ended September 30, 2023 are shown in the Affiliate Table below.
(i)	Investment of cash collateral for securities loaned.

NVDR	Non-Voting Depositary Receipt
REIT	Real Estate Investment Trust

See accompanying notes to financial statements.

221

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SPDR S&P INTERNATIONAL DIVIDEND ETF

SCHEDULE OF INVESTMENTS (continued)

September 30, 2023

The following table summarizes the value of the Fund's investments according to the fair value hierarchy as of September 30, 2023.

Description	Level 1 – Quoted Prices	Level 2 – Other Significant Observable Inputs	Level 3 – Significant Unobservable Inputs	Total
ASSETS:
INVESTMENTS:
Common Stocks	$485,613,382	$268,588	$ 0(a)	$485,881,970
Short-Term Investments	31,745,115	—	—	31,745,115
TOTAL INVESTMENTS	$517,358,497	$268,588	$ 0	$517,627,085

(a)	The Fund held Level 3 securities that were valued at $0 at September 30, 2023.

Sector Breakdown as of September 30, 2023


		% of Net Assets
	Utilities	21.7
	Real Estate	13.2
	Financials	12.4
	Communication Services	11.8
	Consumer Staples	11.1
	Health Care	7.0
	Industrials	6.7
	Materials	4.4
	Energy	3.9
	Information Technology	3.7
	Consumer Discretionary	3.1
	Short-Term Investments	6.5
	Liabilities in Excess of Other Assets	(5.5)
	TOTAL	100.0

(The Fund's sector breakdown is expressed as a percentage of net assets and may change over time.)

Affiliate Table

	Number of Shares Held at 9/30/22	Value at 9/30/22	Cost of Purchases	Proceeds from Shares Sold	Realized Gain (Loss)	Change in Unrealized Appreciation/ Depreciation	Number of Shares Held at 9/30/23	Value at 9/30/23	Dividend Income
State Street Institutional Liquid Reserves Fund, Premier Class	164,032	$ 164,064	$ 45,194,726	$ 45,099,872	$(109)	$—	258,757	$ 258,809	$ 22,301
State Street Navigator Securities Lending Portfolio II	38,049,552	38,049,552	228,228,013	234,791,259	—	—	31,486,306	31,486,306	193,580
Total		$38,213,616	$273,422,739	$279,891,131	$(109)	$—		$ 31,745,115	$215,881

See accompanying notes to financial statements.

222

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SPDR INDEX SHARES FUNDS

STATEMENTS OF ASSETS AND LIABILITIES

September 30, 2023

	SPDR EURO STOXX 50 ETF	SPDR MSCI ACWI Climate Paris Aligned ETF	SPDR MSCI ACWI ex-US ETF	SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
ASSETS
Investments in unaffiliated issuers, at value*	$2,353,312,637	$229,886,304	$1,429,413,382	$222,126,957
Investments in affiliated issuers, at value	517,645	9,458,895	46,989,257	3,158,872
Total Investments	2,353,830,282	239,345,199	1,476,402,639	225,285,829
Foreign currency, at value	206,520	460,880	7,155,042	508,905
Net cash at broker	—	154,473	694,653	—
Cash	59	1,181	458,408	—
Receivable for investments sold	—	—	—	—
Dividends receivable — unaffiliated issuers	1,464,291	291,616	3,595,584	566,804
Dividends receivable — affiliated issuers	3,937	7,557	4,887	849
Securities lending income receivable — unaffiliated issuers	5,360	836	9,794	543
Securities lending income receivable — affiliated issuers	22,129	2,578	23,943	1,126
Receivable for foreign taxes recoverable	6,081,687	118,242	2,671,399	510,344
Other receivable	21,910	1,382	618	1,383
TOTAL ASSETS	2,361,636,175	240,383,944	1,491,016,967	226,875,783
LIABILITIES
Payable upon return of securities loaned	—	7,811,145	46,462,476	3,114,574
Payable for investments purchased	—	—	—	—
Payable to broker – accumulated variation margin on open futures contracts	—	92,925	326,712	—
Deferred foreign taxes payable	—	16,164	1,189,421	—
Advisory fee payable	577,209	23,633	370,454	37,639
Trustees’ fees and expenses payable	—	63	773	128
Accrued expenses and other liabilities	1,640,129	—	—	—
TOTAL LIABILITIES	2,217,338	7,943,930	48,349,836	3,152,341
NET ASSETS	$2,359,418,837	$232,440,014	$1,442,667,131	$223,723,442
NET ASSETS CONSIST OF:
Paid-in capital	$3,154,017,101	$243,233,854	$1,679,521,469	$249,910,414
Total distributable earnings (loss)**	(794,598,264)	(10,793,840)	(236,854,338)	(26,186,972)
NET ASSETS	$2,359,418,837	$232,440,014	$1,442,667,131	$223,723,442
NET ASSET VALUE PER SHARE
Net asset value per share	$ 42.21	$ 28.35	$ 25.00	$ 35.51
Shares outstanding (unlimited amount authorized, $0.01 par value)	55,900,967	8,200,000	57,699,982	6,300,000
COST OF INVESTMENTS:
Investments in unaffiliated issuers	$2,445,022,903	$228,214,525	$1,485,652,671	$238,348,433
Investments in affiliated issuers	517,645	9,464,422	46,989,257	3,158,872
Total cost of investments	$2,445,540,548	$237,678,947	$1,532,641,928	$241,507,305
Foreign currency, at cost	$ 206,452	$ 456,035	$ 7,236,245	$ 508,447
* Includes investments in securities on loan, at value	$ —	$ 8,165,329	$ 60,844,717	$ 5,720,036
** Includes deferred foreign taxes	$ —	$ 16,164	$ 1,187,185	$ —

See accompanying notes to financial statements.

223

Table of Contents

SPDR MSCI EAFE StrategicFactors ETF	SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF	SPDR MSCI Emerging Markets StrategicFactors ETF	SPDR MSCI World StrategicFactors ETF	SPDR S&P Emerging Asia Pacific ETF	SPDR S&P Emerging Markets Dividend ETF	SPDR S&P Emerging Markets Small Cap ETF

$ 919,133,057	$ 75,456,047	$ 45,945,448	$85,569,815	$338,689,577	$ 249,939,511	$788,340,334
16,609,975	544,372	845,496	2,831,862	6,804,109	584,682	16,300,523
935,743,032	76,000,419	46,790,944	88,401,677	345,493,686	250,524,193	804,640,857
2,036,845	237,784	110,052	124,695	1,226,293	1,559,405	3,433,322
—	—	—	—	—	98,660	518,380
102	—	7,033	120	496,191	19	945,155
—	—	21	—	16,136	61	262,876
2,922,549	104,274	67,302	134,245	450,845	733,382	1,210,385
1,109	126	745	769	957	7,526	14,061
1,625	1,090	715	109	7,821	7,930	175,887
6,241	435	890	853	4,689	49	40,498
2,306,187	2,218	307	57,759	—	1,641	41,264
—	1,382	—	—	—	—	—
943,017,690	76,347,728	46,978,009	88,720,227	347,696,618	252,932,866	811,282,685

16,583,362	520,327	710,915	2,667,879	6,677,860	12,732	13,157,590
—	1,676	381	—	59,297	1,317,188	374,369
—	—	—	—	—	53,287	255,487
—	278,797	198,422	—	2,488,986	37,739	4,247,495
236,112	18,965	11,355	21,723	139,142	99,884	426,341
71	78	36	—	177	59	179
—	1,128	—	—	—	—	—
16,819,545	820,971	921,109	2,689,602	9,365,462	1,520,889	18,461,461
$ 926,198,145	$ 75,526,757	$ 46,056,900	$86,030,625	$338,331,156	$ 251,411,977	$792,821,224

$1,047,437,996	$ 93,208,308	$ 56,938,182	$76,129,499	$410,796,425	$ 529,593,251	$864,523,681
(121,239,851)	(17,681,551)	(10,881,282)	9,901,126	(72,465,269)	(278,181,274)	(71,702,457)
$ 926,198,145	$ 75,526,757	$ 46,056,900	$86,030,625	$338,331,156	$ 251,411,977	$792,821,224

$ 67.36	$ 29.05	$ 54.18	$ 101.21	$ 98.07	$ 29.75	$ 53.57
13,750,000	2,600,000	850,000	850,000	3,450,000	8,450,000	14,800,000

$ 966,673,107	$ 83,349,763	$ 45,968,329	$73,835,753	$341,275,902	$ 259,663,030	$749,810,002
16,609,975	544,372	845,496	2,833,023	6,804,109	584,682	16,300,523
$ 983,283,082	$ 83,894,135	$ 46,813,825	$76,668,776	$ 348,080,011	$ 260,247,712	$ 766,110,525
$ 2,035,222	$ 242,861	$ 133,662	$ 125,460	$ 1,226,655	$ 1,562,094	$ 3,440,662
$ 21,809,704	$ 1,124,115	$ 864,898	$ 2,948,470	$ 8,268,874	$ 1,239,902	$ 48,840,125
$ —	$ 278,796	$ 198,422	$ —	$ 2,488,986	$ 37,738	$ 4,242,127

224

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SPDR INDEX SHARES FUNDS

STATEMENTS OF ASSETS AND LIABILITIES (continued)

September 30, 2023

	SPDR S&P Global Dividend ETF	SPDR S&P Global Infrastructure ETF	SPDR S&P International Dividend ETF
ASSETS
Investments in unaffiliated issuers, at value*	$ 206,755,567	$415,758,689	$ 485,881,970
Investments in affiliated issuers, at value	21,720,668	9,059,488	31,745,115
Total Investments	228,476,235	424,818,177	517,627,085
Foreign currency, at value	1,148,878	333,930	374,993
Net cash at broker	205,698	—	—
Receivable for investments sold	79,426	30,575,016	—
Dividends receivable — unaffiliated issuers	1,148,629	1,333,164	2,757,227
Dividends receivable — affiliated issuers	4,763	3,856	2,793
Securities lending income receivable — unaffiliated issuers	640	342	1,609
Securities lending income receivable — affiliated issuers	8,253	2,981	13,198
Receivable for foreign taxes recoverable	374,958	58,893	1,553,224
TOTAL ASSETS	231,447,480	457,126,359	522,330,129
LIABILITIES
Due to custodian	14,633	—	—
Payable upon return of securities loaned	20,930,864	7,690,543	31,486,306
Payable for investments purchased	615,407	29,011,973	53,931
Payable for fund shares repurchased	—	2,476,656	—
Payable to broker – accumulated variation margin on open futures contracts	84,111	—	—
Advisory fee payable	72,774	144,442	194,526
Trustees’ fees and expenses payable	126	235	241
TOTAL LIABILITIES	21,717,915	39,323,849	31,735,004
NET ASSETS	$ 209,729,565	$417,802,510	$ 490,595,125
NET ASSETS CONSIST OF:
Paid-in capital	$ 335,888,470	$512,973,439	$1,021,334,730
Total distributable earnings (loss)**	(126,158,905)	(95,170,929)	(530,739,605)
NET ASSETS	$ 209,729,565	$417,802,510	$ 490,595,125
NET ASSET VALUE PER SHARE
Net asset value per share	$ 54.83	$ 49.44	$ 33.03
Shares outstanding (unlimited amount authorized, $0.01 par value)	3,825,000	8,450,000	14,851,326
COST OF INVESTMENTS:
Investments in unaffiliated issuers	$ 238,277,064	$ 450,111,624	$ 516,559,271
Investments in affiliated issuers	21,761,727	9,059,488	31,745,115
Total cost of investments	$ 260,038,791	$ 459,171,112	$ 548,304,386
Foreign currency, at cost	$ 1,173,176	$ 334,438	$ 375,531
* Includes investments in securities on loan, at value	$ 26,653,650	$ 8,145,517	$ 51,342,482

See accompanying notes to financial statements.

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SPDR INDEX SHARES FUNDS

STATEMENTS OF OPERATIONS

For the Year Ended September 30, 2023

	SPDR EURO STOXX 50 ETF	SPDR MSCI ACWI Climate Paris Aligned ETF	SPDR MSCI ACWI ex-US ETF	SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
INVESTMENT INCOME
Dividend income — unaffiliated issuers	$ 89,945,915	$ 4,786,405	$ 52,310,370	$ 7,597,750
Dividend income — affiliated issuers	53,715	64,702	93,444	12,890
Unaffiliated securities lending income	45,506	7,739	148,599	17,182
Affiliated securities lending income	188,365	40,736	352,466	43,028
Foreign taxes withheld	(4,641,157)	(264,327)	(4,613,534)	(731,736)
TOTAL INVESTMENT INCOME (LOSS)	85,592,344	4,635,255	48,291,345	6,939,114
EXPENSES
Advisory fee	6,664,891	279,968	4,586,589	472,575
Trustees’ fees and expenses	21,971	2,780	18,353	2,879
Miscellaneous expenses	62,271	14,465	48,694	17,173
TOTAL EXPENSES	6,749,133	297,213	4,653,636	492,627
NET INVESTMENT INCOME (LOSS)	$ 78,843,211	$ 4,338,042	$ 43,637,709	$ 6,446,487
REALIZED AND UNREALIZED GAIN (LOSS)
Net realized gain (loss) on:
Investments — unaffiliated issuers*	(465,082)	(4,104,253)	(34,392,358)	(3,880,212)
Investments — affiliated issuers	(49)	59	—	(168)
In-kind redemptions — unaffiliated issuers	71,017,096	2,579,904	56,029,281	11,453,182
In-kind redemptions — affiliated issuers	—	158	—	—
Foreign currency transactions	(179,202)	(28,571)	(951,458)	259
Futures contracts	—	321,472	(379,772)	—
Net realized gain (loss)	70,372,763	(1,231,231)	20,305,693	7,573,061
Net change in unrealized appreciation/depreciation on:
Investments — unaffiliated issuers**	417,423,072	35,998,379	218,091,688	36,995,056
Investments — affiliated issuers	(128)	3,688	—	(1)
Foreign currency translations	701,646	18,902	353,175	39,673
Futures contracts	—	(95,451)	(327,156)	—
Net change in unrealized appreciation/depreciation	418,124,590	35,925,518	218,117,707	37,034,728
NET REALIZED AND UNREALIZED GAIN (LOSS)	488,497,353	34,694,287	238,423,400	44,607,789
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS	$567,340,564	$39,032,329	$282,061,109	$51,054,276
* Includes foreign capital gain taxes	$ —	$ (3,815)	$ (2,559)	$ —
** Includes foreign deferred taxes	$ —	$ (16,164)	$ (1,187,185)	$ —

See accompanying notes to financial statements.

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SPDR MSCI EAFE StrategicFactors ETF	SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF	SPDR MSCI Emerging Markets StrategicFactors ETF	SPDR MSCI World StrategicFactors ETF	SPDR S&P Emerging Asia Pacific ETF	SPDR S&P Emerging Markets Dividend ETF	SPDR S&P Emerging Markets Small Cap ETF

$ 34,221,881	$ 2,623,111	$ 2,227,640	$ 1,917,658	$10,534,925	$14,074,687	$ 23,312,077
38,730	3,293	7,146	7,395	18,472	32,636	91,502
44,422	9,492	7,268	2,733	78,874	70,089	1,886,537
175,326	6,077	4,999	11,697	75,839	5,849	391,798
(2,692,073)	(322,090)	(283,116)	(92,133)	(1,319,361)	(1,760,759)	(2,949,371)
31,788,286	2,319,883	1,963,937	1,847,350	9,388,749	12,422,502	22,732,543

2,817,859	257,076	128,181	227,445	1,732,263	1,020,461	4,510,127
10,403	1,092	522	826	4,203	2,315	7,603
29,193	2,842	1,427	13,641	10,219	5,813	12,099
2,857,455	261,010	130,130	241,912	1,746,685	1,028,589	4,529,829
$ 28,930,831	$ 2,058,873	$ 1,833,807	$ 1,605,438	$ 7,642,064	$ 11,393,913	$ 18,202,714


(30,095,895)	(2,405,002)	(1,025,727)	(970,993)	2,383,604	9,931,649	(5,235,687)
(868)	(170)	(125)	(25)	—	21,834	1,171
25,032,586	(544,964)	(58,787)	—	2,185,847	(199,845)	1,513,539
—	—	—	—	—	—	—
(6,343)	(92,176)	(522,731)	(4,206)	(171,674)	(641,932)	(607,772)
—	—	—	—	—	189,345	(67,705)
(5,070,520)	(3,042,312)	(1,607,370)	(975,224)	4,397,777	9,301,051	(4,396,454)

143,799,761	10,436,836	4,017,426	12,239,125	23,814,541	47,290,352	109,819,213
—	(10)	(20)	1,234	—	—	—
122,255	5,369	11,699	7,123	99,305	12,057	51,518
—	—	—	—	—	38,739	181,273
143,922,016	10,442,195	4,029,105	12,247,482	23,913,846	47,341,148	110,052,004
138,851,496	7,399,883	2,421,735	11,272,258	28,311,623	56,642,199	105,655,550
$167,782,327	$ 9,458,756	$ 4,255,542	$12,877,696	$35,953,687	$ 68,036,112	$123,858,264
$ —	$ (86,601)	$ (44,659)	$ —	$ (804,152)	$ —	$ (1,870,568)
$ —	$ (278,796)	$ (198,422)	$ —	$ (2,488,986)	$ (37,738)	$ (4,242,127)

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SPDR INDEX SHARES FUNDS

STATEMENTS OF OPERATIONS (continued)

For the Year Ended September 30, 2023

	SPDR S&P Global Dividend ETF	SPDR S&P Global Infrastructure ETF	SPDR S&P International Dividend ETF
INVESTMENT INCOME
Dividend income — unaffiliated issuers	$ 13,450,020	$20,468,315	$26,092,785
Dividend income — affiliated issuers	39,660	36,560	22,301
Unaffiliated securities lending income	31,790	21,788	88,092
Affiliated securities lending income	96,129	66,569	193,580
Foreign taxes withheld	(969,238)	(1,075,184)	(2,310,868)
TOTAL INVESTMENT INCOME (LOSS)	12,648,361	19,518,048	24,085,890
EXPENSES
Advisory fee	936,424	2,140,378	2,310,964
Trustees’ fees and expenses	2,902	6,818	6,347
Miscellaneous expenses	18,712	10,071	23,612
TOTAL EXPENSES	958,038	2,157,267	2,340,923
NET INVESTMENT INCOME (LOSS)	$ 11,690,323	$17,360,781	$21,744,967
REALIZED AND UNREALIZED GAIN (LOSS)
Net realized gain (loss) on:
Investments — unaffiliated issuers*	(16,566,278)	(9,386,154)	(9,825,813)
Investments — affiliated issuers	41,182	(715)	(109)
In-kind redemptions — unaffiliated issuers	1,874,000	29,270,074	6,835,128
Foreign currency transactions	20,260	338,546	(819,251)
Futures contracts	86,325	—	—
Net realized gain (loss)	(14,544,511)	20,221,751	(3,810,045)
Net change in unrealized appreciation/depreciation on:
Investments — unaffiliated issuers**	20,491,934	2,185,542	69,782,499
Investments — affiliated issuers	(41,093)	(153)	—
Foreign currency translations	16,636	75,219	155,657
Futures contracts	(84,167)	—	—
Net change in unrealized appreciation/depreciation	20,383,310	2,260,608	69,938,156
NET REALIZED AND UNREALIZED GAIN (LOSS)	5,838,799	22,482,359	66,128,111
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS	$ 17,529,122	$39,843,140	$87,873,078

See accompanying notes to financial statements.

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SPDR INDEX SHARES FUNDS

STATEMENTS OF CHANGES IN NET ASSETS

	SPDR EURO STOXX 50 ETF		SPDR MSCI ACWI Climate Paris Aligned ETF
	Year Ended 9/30/23	Year Ended 9/30/22	Year Ended 9/30/23	Year Ended(a) 9/30/22
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:
Net investment income (loss)	$ 78,843,211	$ 62,165,299	$ 4,338,042	$ 3,175,580
Net realized gain (loss)	70,372,763	62,058,796	(1,231,231)	4,558,797
Net change in unrealized appreciation/depreciation	418,124,590	(713,476,491)	35,925,518	(60,966,967)
Net increase (decrease) in net assets resulting from operations	567,340,564	(589,252,396)	39,032,329	(53,232,590)
Net equalization credits and charges	524,853	(3,663,100)	(46,992)	815,674
Distributions to shareholders	(78,231,979)	(73,669,991)	(4,221,883)	(3,322,265)
FROM BENEFICIAL INTEREST TRANSACTIONS:
Proceeds from shares sold	782,429,288	196,410,776	—	182,239,356
Cost of shares redeemed	(191,729,569)	(876,206,574)	(8,378,855)	(32,720,585)
Net income equalization	(524,853)	3,663,100	46,992	(815,674)
Other Capital	—	2,359	1,519	19,296
Net increase (decrease) in net assets from beneficial interest transactions	590,174,866	(676,130,339)	(8,330,344)	148,722,393
Net increase (decrease) in net assets during the period	1,079,808,304	(1,342,715,826)	26,433,110	92,983,212
Net assets at beginning of period	1,279,610,533	2,622,326,359	206,006,904	113,023,692
NET ASSETS AT END OF PERIOD	$2,359,418,837	$ 1,279,610,533	$232,440,014	$206,006,904
SHARES OF BENEFICIAL INTEREST:
Shares sold	19,000,000	5,450,000	—	6,000,000
Shares redeemed	(4,250,000)	(22,000,000)	(300,000)	(1,100,000)
Net increase (decrease) from share transactions	14,750,000	(16,550,000)	(300,000)	4,900,000


(a)	On April 22, 2022 the SPDR MSCI ACWI Climate Paris Aligned ETF underwent a 4-for-1 stock split. The capital share activity presented here has been retroactively adjusted to reflect this split. See Note 12.

See accompanying notes to financial statements.

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SPDR MSCI ACWI ex-US ETF		SPDR MSCI EAFE Fossil Fuel Reserves Free ETF		SPDR MSCI EAFE StrategicFactors ETF
Year Ended 9/30/23	Year Ended 9/30/22	Year Ended 9/30/23(b)	Year Ended 9/30/22(b)	Year Ended 9/30/23	Year Ended 9/30/22

$ 43,637,709	$ 49,477,375	$ 6,446,487	$ 6,707,743	$ 28,930,831	$ 25,236,762
20,305,693	(2,480,158)	7,573,061	5,931,656	(5,070,520)	17,412,650
218,117,707	(495,346,663)	37,034,728	(88,120,607)	143,922,016	(262,206,319)
282,061,109	(448,349,446)	51,054,276	(75,481,208)	167,782,327	(219,556,907)
—	—	(303,592)	279,056	—	—
(46,277,058)	(55,147,029)	(6,604,789)	(7,750,066)	(27,515,344)	(26,318,489)

106,601,319	149,692,691	21,946,223	73,423,541	258,244,434	342,034,492
(220,513,548)	(88,955,523)	(45,008,663)	(28,100,171)	(159,635,918)	(219,520,437)
—	—	303,592	(279,056)	—	—
85,872	87,479	1,162	2,614	10,318	12,062
(113,826,357)	60,824,647	(22,757,686)	45,046,928	98,618,834	122,526,117
121,957,694	(442,671,828)	21,388,209	(37,905,290)	238,885,817	(123,349,279)
1,320,709,437	1,763,381,265	202,335,233	240,240,523	687,312,328	810,661,607
$1,442,667,131	$1,320,709,437	$223,723,442	$202,335,233	$ 926,198,145	$ 687,312,328

4,400,000	5,200,000	600,000	1,900,000	3,850,000	4,800,000
(8,600,000)	(3,800,000)	(1,200,000)	(800,000)	(2,350,000)	(3,300,000)
(4,200,000)	1,400,000	(600,000)	1,100,000	1,500,000	1,500,000


(b)	On January 12, 2023 the SPDR MSCI EAFE Fossil Fuel Reserves Free ETF underwent a 2-for-1 stock split. The capital share activity presented here has been retroactively adjusted to reflect this split. See Note 12.

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SPDR INDEX SHARES FUNDS

STATEMENTS OF CHANGES IN NET ASSETS (continued)

	SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF		SPDR MSCI Emerging Markets StrategicFactors ETF
	Year Ended 9/30/23(c)	Year Ended 9/30/22(c)	Year Ended 9/30/23	Year Ended 9/30/22
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:
Net investment income (loss)	$ 2,058,873	$ 2,716,216	$ 1,833,807	$ 2,267,766
Net realized gain (loss)	(3,042,312)	195,566	(1,607,370)	3,434,332
Net change in unrealized appreciation/depreciation	10,442,195	(39,193,555)	4,029,105	(19,867,428)
Net increase (decrease) in net assets resulting from operations	9,458,756	(36,281,773)	4,255,542	(14,165,330)
Net equalization credits and charges	(77,740)	(393,746)	—	—
Distributions to shareholders	(2,131,643)	(2,383,221)	(2,119,145)	(2,126,097)
FROM BENEFICIAL INTEREST TRANSACTIONS:
Proceeds from shares sold	3,078,848	3,198,951	6,888,657	1,402,308
Cost of shares redeemed	(20,557,319)	(51,308,507)	(2,789,469)	(26,953,364)
Net income equalization	77,740	393,746	—	—
Other Capital	40,408	93,759	10,921	43,114
Net increase (decrease) in net assets from beneficial interest transactions	(17,360,323)	(47,622,051)	4,110,109	(25,507,942)
Net increase (decrease) in net assets during the period	(10,110,950)	(86,680,791)	6,246,506	(41,799,369)
Net assets at beginning of period	85,637,707	172,318,498	39,810,394	81,609,763
NET ASSETS AT END OF PERIOD	$ 75,526,757	$ 85,637,707	$46,056,900	$ 39,810,394
SHARES OF BENEFICIAL INTEREST:
Shares sold	100,000	100,000	125,000	25,000
Shares redeemed	(700,000)	(1,500,000)	(50,000)	(450,000)
Net increase (decrease) from share transactions	(600,000)	(1,400,000)	75,000	(425,000)


(c)	On January 12, 2023 the SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF underwent a 2-for-1 stock split. The capital share activity presented here has been retroactively adjusted to reflect this split. See Note 12.

See accompanying notes to financial statements.

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SPDR INDEX SHARES FUNDS

STATEMENTS OF CHANGES IN NET ASSETS (continued)

	SPDR S&P Emerging Markets Small Cap ETF		SPDR S&P Global Dividend ETF
	Year Ended 9/30/23	Year Ended 9/30/22	Year Ended 9/30/23	Year Ended 9/30/22
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:
Net investment income (loss)	$ 18,202,714	$ 16,936,538	$ 11,690,323	$ 12,526,844
Net realized gain (loss)	(4,396,454)	(8,082,361)	(14,544,511)	5,479,298
Net change in unrealized appreciation/depreciation	110,052,004	(144,437,419)	20,383,310	(54,483,813)
Net increase (decrease) in net assets resulting from operations	123,858,264	(135,583,242)	17,529,122	(36,477,671)
Distributions to shareholders	(18,030,510)	(20,565,254)	(11,949,184)	(13,101,784)
FROM BENEFICIAL INTEREST TRANSACTIONS:
Proceeds from shares sold	149,953,084	78,950,990	13,244,751	59,800,362
Cost of shares redeemed	(15,315,700)	(21,893,470)	(25,836,654)	(116,496,101)
Other Capital	177,313	105,637	4,079	14,925
Net increase (decrease) in net assets from beneficial interest transactions	134,814,697	57,163,157	(12,587,824)	(56,680,814)
Contribution from affiliate (Note 4)	1,489	—	—	—
Net increase (decrease) in net assets during the period	240,643,940	(98,985,339)	(7,007,886)	(106,260,269)
Net assets at beginning of period	552,177,284	651,162,623	216,737,451	322,997,720
NET ASSETS AT END OF PERIOD	$792,821,224	$ 552,177,284	$209,729,565	$ 216,737,451
SHARES OF BENEFICIAL INTEREST:
Shares sold	3,000,000	1,500,000	225,000	925,000
Shares redeemed	(300,000)	(400,000)	(450,000)	(1,775,000)
Net increase (decrease) from share transactions	2,700,000	1,100,000	(225,000)	(850,000)

See accompanying notes to financial statements.

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SPDR INDEX SHARES FUNDS

FINANCIAL HIGHLIGHTS

Selected data for a share outstanding throughout each period

	SPDR EURO STOXX 50 ETF
	Year Ended 9/30/23	Year Ended 9/30/22	Year Ended 9/30/21	Year Ended 9/30/20	Year Ended 9/30/19(a)
Net asset value, beginning of period	$ 31.10	$ 45.45	$ 36.40	$ 37.79	$ 38.35
Income (loss) from investment operations:
Net investment income (loss) (b)	1.47	1.30	1.06	0.81	1.02
Net realized and unrealized gain (loss) (c)	10.99	(13.98)	8.77	(1.46)	(0.49)
Total from investment operations	12.46	(12.68)	9.83	(0.65)	0.53
Net equalization credits and charges (b)	0.01	(0.08)	0.12	(0.00)(d)	(0.01)
Other capital	—	0.00(d)	—	—	—
Distributions to shareholders from:
Net investment income	(1.36)	(1.59)	(0.90)	(0.74)	(1.08)
Net asset value, end of period	$ 42.21	$ 31.10	$ 45.45	$ 36.40	$ 37.79
Total return (e)	40.03%	(28.73)%	27.32%	(1.65)%	1.43%
Ratios and Supplemental Data:
Net assets, end of period (in 000s)	$2,359,419	$1,279,611	$2,622,326	$1,747,270	$2,050,307
Ratios to average net assets:
Total expenses	0.29%	0.30%	0.29%	0.29%	0.29%
Net investment income (loss)	3.43%	3.16%	2.39%	2.21%	2.80%
Portfolio turnover rate (f)	12%	8%	11%	9%	6%

(a)	Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b)	Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.
(c)	Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(d)	Amount is less than $0.005 per share.
(e)	Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(f)	Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

See accompanying notes to financial statements.

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SPDR INDEX SHARES FUNDS

FINANCIAL HIGHLIGHTS (continued)

Selected data for a share outstanding throughout each period

	SPDR MSCI ACWI Climate Paris Aligned ETF
	Year Ended 9/30/23	Year Ended 9/30/22(a)	Year Ended 9/30/21(a)	Year Ended 9/30/20(a)	Year Ended 9/30/19(a)(b)
Net asset value, beginning of period	$ 24.24	$ 31.40	$ 25.09	$ 23.01	$ 23.05
Income (loss) from investment operations:
Net investment income (loss) (c)	0.52	0.55	0.53	0.46	0.52
Net realized and unrealized gain (loss) (d)	4.11	(6.37)	6.25	2.13	(0.06)
Total from investment operations	4.63	(5.82)	6.78	2.58	0.46
Net equalization credits and charges (c)	(0.01)	0.14	0.02	(0.03)	0.01
Other capital	0.00(e)	0.00(e)	0.00(e)	0.00	0.00(e)
Distributions to shareholders from:
Net investment income	(0.51)	(1.48)	(0.49)	(0.48)	(0.51)
Net asset value, end of period	$ 28.35	$ 24.24	$ 31.40	$ 25.09	$ 23.01
Total return (f)	19.07%	(21.38)%	27.23%	11.18%	2.25%
Ratios and Supplemental Data:
Net assets, end of period (in 000s)	$232,440	$206,007	$113,024	$70,239	$82,838
Ratios to average net assets:
Total expenses	0.13%	0.16%	0.24%	0.30%	0.30%
Net expenses	0.13%	0.16%	0.20%	0.20%	0.20%
Net investment income (loss)	1.86%	1.89%	1.75%	1.95%	2.39%
Portfolio turnover rate (g)	12%	32%	10%	10%	15%

(a)	Effective on April 22, 2022, the SPDR MSCI ACWI Climate Paris Aligned ETF underwent a 4-for-1 share split. The per share activity presented here has been retroactively adjusted to reflect this split. (Note 12)
(b)	Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(c)	Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.
(d)	Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(e)	Amount is less than $0.005 per share.
(f)	Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(g)	Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

See accompanying notes to financial statements.

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SPDR INDEX SHARES FUNDS

FINANCIAL HIGHLIGHTS (continued)

Selected data for a share outstanding throughout each period

	SPDR MSCI ACWI ex-US ETF
	Year Ended 9/30/23	Year Ended 9/30/22	Year Ended 9/30/21	Year Ended 9/30/20	Year Ended 9/30/19(a)(b)
Net asset value, beginning of period	$ 21.34	$ 29.15	$ 24.01	$ 24.08	$ 24.97
Income (loss) from investment operations:
Net investment income (loss) (c)	0.72	0.77	0.71	0.54	0.76
Net realized and unrealized gain (loss) (d)	3.70	(7.71)	5.05	0.06	(0.95)
Total from investment operations	4.42	(6.94)	5.76	0.60	(0.19)
Other capital	0.00(e)	0.00(e)	0.00(e)	0.00(e)	0.00(e)
Distributions to shareholders from:
Net investment income	(0.76)	(0.87)	(0.62)	(0.67)	(0.70)
Net asset value, end of period	$ 25.00	$ 21.34	$ 29.15	$ 24.01	$ 24.08
Total return	20.80%	(24.46)%	23.98%	2.44%	(0.61)%
Ratios and Supplemental Data:
Net assets, end of period (in 000s)	$1,442,667	$1,320,709	$1,763,381	$1,270,389	$1,683,113
Ratios to average net assets:
Total expenses	0.30%	0.30%	0.32%	0.34%	0.34%
Net expenses	0.30%	0.30%	0.30%	0.30%	0.30%
Net investment income (loss)	2.85%	2.90%	2.48%	2.26%	3.20%
Portfolio turnover rate (f)	4%	2%	5%	4%	3%

(a)	Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b)	On September 20, 2019, the SPDR MSCI ACWI ex-US ETF underwent a 3-for-2 share split. The per share activity presented here has been retroactively adjusted to reflect this split.
(c)	Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.
(d)	Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(e)	Amount is less than $0.005 per share.
(f)	Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

See accompanying notes to financial statements.

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Selected data for a share outstanding throughout each period

	SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
	Year Ended 9/30/23(a)	Year Ended 9/30/22(a)	Year Ended 9/30/21(a)	Year Ended 9/30/20(a)	Year Ended 9/30/19(a)(b)
Net asset value, beginning of period	$ 29.33	$ 41.42	$ 33.95	$ 33.67	$ 34.97
Income (loss) from investment operations:
Net investment income (loss) (c)	0.97	1.00	1.08	0.76	0.98
Net realized and unrealized gain (loss) (d)	6.62	(11.96)	7.20	0.14	(1.34)
Total from investment operations	7.59	(10.96)	8.28	0.90	(0.36)
Net equalization credits and charges (c)	(0.05)	0.04	0.08	0.07	0.03
Other capital	0.00(e)	0.00(e)	0.00(e)	0.00(e)	—
Distributions to shareholders from:
Net investment income	(1.36)	(1.17)	(0.89)	(0.69)	(0.97)
Net asset value, end of period	$ 35.51	$ 29.33	$ 41.42	$ 33.95	$ 33.67
Total return (f)	24.61%	(27.02)%	24.65%	2.83%	(0.79)%
Ratios and Supplemental Data:
Net assets, end of period (in 000s)	$223,723	$202,335	$240,241	$122,221	$84,177
Ratios to average net assets:
Total expenses	0.21%	0.20%	0.24%	0.30%	0.30%
Net expenses	0.21%	0.20%	0.20%	0.20%	0.20%
Net investment income (loss)	2.73%	2.69%	2.66%	2.30%	2.97%
Portfolio turnover rate (g)	4%	8%	6%	7%	6%

(a)	Effective on January 12, 2023, the SPDR MSCI EAFE Fossil Fuel Reserves Free ETF underwent a 2-for-1 share split. The per share activity presented here has been retroactively adjusted to reflect this split. (Note 12)
(b)	Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(c)	Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.
(d)	Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(e)	Amount is less than $0.005 per share.
(f)	Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(g)	Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

See accompanying notes to financial statements.

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Selected data for a share outstanding throughout each period

	SPDR MSCI EAFE StrategicFactors ETF
	Year Ended 9/30/23	Year Ended 9/30/22	Year Ended 9/30/21	Year Ended 9/30/20	Year Ended 9/30/19(a)
Net asset value, beginning of period	$ 56.11	$ 75.41	$ 61.74	$ 62.85	$ 64.08
Income (loss) from investment operations:
Net investment income (loss) (b)	2.07	2.09	1.94	1.43	1.84
Net realized and unrealized gain (loss) (c)	11.07	(19.22)	13.19	(0.94)	(1.08)
Total from investment operations	13.14	(17.13)	15.13	0.49	0.76
Other capital	0.00(d)	0.00(d)	0.00(d)	0.00(d)	0.00(d)
Distributions to shareholders from:
Net investment income	(1.89)	(2.17)	(1.46)	(1.60)	(1.99)
Net asset value, end of period	$ 67.36	$ 56.11	$ 75.41	$ 61.74	$ 62.85
Total return (e)	23.45%	(23.29)%	24.57%	0.69%	1.39%
Ratios and Supplemental Data:
Net assets, end of period (in 000s)	$926,198	$687,312	$810,662	$385,852	$320,538
Ratios to average net assets:
Total expenses	0.30%	0.30%	0.30%	0.30%	0.30%
Net investment income (loss)	3.08%	3.00%	2.65%	2.32%	3.02%
Portfolio turnover rate (f)	14%	14%	13%	14%	12%

(a)	Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b)	Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.
(c)	Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(d)	Amount is less than $0.005 per share.
(e)	Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(f)	Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

See accompanying notes to financial statements.

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Selected data for a share outstanding throughout each period

	SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF
	Year Ended 9/30/23(a)	Year Ended 9/30/22(a)	Year Ended 9/30/21(a)	Year Ended 9/30/20(a)	Year Ended 9/30/19(a)(b)
Net asset value, beginning of period	$ 26.76	$ 37.46	$ 32.76	$ 29.89	$ 31.36
Income (loss) from investment operations:
Net investment income (loss) (c)	0.71	0.73	0.66	0.58	1.08(d)
Net realized and unrealized gain (loss) (e)	2.82	(10.71)	4.53	2.98	(2.09)
Total from investment operations	3.53	(9.98)	5.19	3.56	(1.01)
Net equalization credits and charges (c)	(0.03)	(0.11)	0.04	0.16	0.14
Other capital	0.01	0.03	0.02	0.02	0.03
Distributions to shareholders from:
Net investment income	(1.22)	(0.64)	(0.55)	(0.87)	(0.63)
Net asset value, end of period	$ 29.05	$ 26.76	$ 37.46	$ 32.76	$ 29.89
Total return (f)	11.20%	(27.26)%	16.00%	12.59%	(2.62)%(d)
Ratios and Supplemental Data:
Net assets, end of period (in 000s)	$75,527	$85,638	$172,318	$94,995	$71,720
Ratios to average net assets:
Total expenses	0.30%	0.30%	0.30%	0.30%	0.30%
Net investment income (loss)	2.40%	2.12%	1.69%	1.88%	3.54%(d)
Portfolio turnover rate (g)	9%	8%	11%	17%	7%

(a)	Effective on January 12, 2023, the SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF underwent a 2-for-1 share split. The per share activity presented here has been retroactively adjusted to reflect this split. (Note 12)
(b)	Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(c)	Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.
(d)	Net investment income per share and ratio of net investment income to average net assets reflect receipt of special dividend from portfolio holding. The resulting increase to net investment income amounted to $0.68 per share and 1.13% of average net assets. If the special dividends were not received during the year ended September 30, 2019, the total return would have been (3.73%).
(e)	Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(f)	Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(g)	Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

See accompanying notes to financial statements.

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Selected data for a share outstanding throughout each period

	SPDR MSCI Emerging Markets StrategicFactors ETF
	Year Ended 9/30/23	Year Ended 9/30/22	Year Ended 9/30/21	Year Ended 9/30/20	Year Ended 9/30/19(a)
Net asset value, beginning of period	$ 51.37	$ 68.01	$ 56.44	$ 57.51	$ 59.60
Income (loss) from investment operations:
Net investment income (loss) (b)	2.36	2.05	1.39	1.39	1.63
Net realized and unrealized gain (loss) (c)	3.25	(16.91)	11.58	(0.70)	(2.02)
Total from investment operations	5.61	(14.86)	12.97	0.69	(0.39)
Other capital	0.01	0.04	0.09	0.05	0.01
Distributions to shareholders from:
Net investment income	(2.81)	(1.82)	(1.49)	(1.81)	(1.71)
Net asset value, end of period	$ 54.18	$ 51.37	$ 68.01	$ 56.44	$ 57.51
Total return (d)	11.03%	(22.33)%	23.25%	1.18%	(0.52)%
Ratios and Supplemental Data:
Net assets, end of period (in 000s)	$46,057	$39,810	$81,610	$148,165	$268,867
Ratios to average net assets:
Total expenses	0.30%	0.30%	0.30%	0.30%	0.30%
Net investment income (loss)	4.29%	3.26%	2.10%	2.50%	2.84%
Portfolio turnover rate (e)	25%	23%	26%	23%	23%

(a)	Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b)	Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.
(c)	Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(d)	Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(e)	Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

See accompanying notes to financial statements.

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Selected data for a share outstanding throughout each period

	SPDR MSCI World StrategicFactors ETF
	Year Ended 9/30/23	Year Ended 9/30/22	Year Ended 9/30/21	Year Ended 9/30/20	Year Ended 9/30/19(a)
Net asset value, beginning of period	$ 85.01	$103.50	$ 83.48	$ 80.58	$ 78.67
Income (loss) from investment operations:
Net investment income (loss) (b)	2.09	2.04	1.83	1.67	1.61
Net realized and unrealized gain (loss) (c)	16.03	(18.49)	19.90	3.07	2.10
Total from investment operations	18.12	(16.45)	21.73	4.74	3.71
Other capital	0.00(d)	0.00(d)	—	0.00(d)	0.00(d)
Distributions to shareholders from:
Net investment income	(1.92)	(2.04)	(1.71)	(1.84)	(1.80)
Net asset value, end of period	$101.21	$ 85.01	$103.50	$ 83.48	$ 80.58
Total return (e)	21.40%	(16.24)%	26.15%	5.87%	4.99%
Ratios and Supplemental Data:
Net assets, end of period (in 000s)	$86,031	$59,509	$51,752	$41,741	$24,175
Ratios to average net assets:
Total expenses	0.32%	0.30%	0.30%	0.30%	0.30%
Net investment income (loss)	2.12%	2.03%	1.88%	2.05%	2.13%
Portfolio turnover rate (f)	14%	13%	25%	18%	14%

(a)	Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b)	Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.
(c)	Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(d)	Amount is less than $0.005 per share.
(e)	Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(f)	Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

See accompanying notes to financial statements.

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Selected data for a share outstanding throughout each period

	SPDR S&P Emerging Asia Pacific ETF
	Year Ended 9/30/23	Year Ended 9/30/22	Year Ended 9/30/21	Year Ended 9/30/20	Year Ended 9/30/19(a)
Net asset value, beginning of period	$ 90.49	$ 124.88	$ 110.29	$ 93.67	$ 97.31
Income (loss) from investment operations:
Net investment income (loss) (b)	2.13	2.17	1.69	1.66	1.89
Net realized and unrealized gain (loss) (c)	8.03	(33.17)	14.53	16.72	(3.50)
Total from investment operations	10.16	(31.00)	16.22	18.38	(1.61)
Other capital	0.02	0.03	0.06	0.03	0.02
Distributions to shareholders from:
Net investment income	(2.60)	(3.42)	(1.69)	(1.79)	(2.05)
Net asset value, end of period	$ 98.07	$ 90.49	$ 124.88	$ 110.29	$ 93.67
Total return	11.28%	(25.42)%	14.73%	19.82%	(1.56)%
Ratios and Supplemental Data:
Net assets, end of period (in 000s)	$338,331	$334,812	$599,447	$540,439	$440,267
Ratios to average net assets:
Total expenses	0.49%	0.49%	0.49%	0.49%	0.49%
Net investment income (loss)	2.16%	1.92%	1.31%	1.67%	2.01%
Portfolio turnover rate (d)	9%	2%	17%	8%	14%

(a)	Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b)	Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.
(c)	Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(d)	Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

See accompanying notes to financial statements.

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Selected data for a share outstanding throughout each period

	SPDR S&P Emerging Markets Dividend ETF
	Year Ended 9/30/23	Year Ended 9/30/22	Year Ended 9/30/21	Year Ended 9/30/20	Year Ended 9/30/19(a)
Net asset value, beginning of period	$ 22.42	$ 29.82	$ 24.29	$ 29.99	$ 30.87
Income (loss) from investment operations:
Net investment income (loss) (b)	1.45	1.12	1.05	0.96	1.25
Net realized and unrealized gain (loss) (c)	7.25	(7.18)	5.51	(5.68)	(0.87)
Total from investment operations	8.70	(6.06)	6.56	(4.72)	0.38
Net equalization credits and charges (b)	0.03	(0.03)	(0.01)	(0.01)	(0.03)
Contribution from affiliate	—	—	—	—	0.01
Other capital	0.00(d)	0.01	0.00(d)	0.01	0.01
Distributions to shareholders from:
Net investment income	(1.40)	(1.32)	(1.02)	(0.98)	(1.25)
Net asset value, end of period	$ 29.75	$ 22.42	$ 29.82	$ 24.29	$ 29.99
Total return	39.27%	(20.86)%	26.96%	(15.71)%	1.09%(e)
Ratios and Supplemental Data:
Net assets, end of period (in 000s)	$251,412	$180,460	$295,201	$255,057	$410,811
Ratios to average net assets:
Total expenses	0.49%	0.49%	0.49%	0.49%	0.49%
Net investment income (loss)	5.47%	3.94%	3.63%	3.47%	4.00%
Portfolio turnover rate (f)	99%	71%	75%	78%	73%

(a)	Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b)	Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.
(c)	Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(d)	Amount is less than $0.005 per share.
(e)	If the Affiliate had not made a voluntary contribution during the year ended September 30, 2019, the total return would have been 1.06%.
(f)	Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

See accompanying notes to financial statements.

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Selected data for a share outstanding throughout each period

	SPDR S&P Emerging Markets Small Cap ETF
	Year Ended 9/30/23	Year Ended 9/30/22	Year Ended 9/30/21	Year Ended 9/30/20	Year Ended 9/30/19(a)
Net asset value, beginning of period	$ 45.63	$ 59.20	$ 44.37	$ 43.50	$ 44.89
Income (loss) from investment operations:
Net investment income (loss) (b)	1.34	1.47	1.09	0.94	1.12
Net realized and unrealized gain (loss) (c)	7.90	(13.23)	14.99	1.11	(1.21)
Total from investment operations	9.24	(11.76)	16.08	2.05	(0.09)
Contribution from affiliate (Note 4)	0.00(d)	—	—	—	—
Other capital	0.01	0.01	0.01	0.01	0.01
Distributions to shareholders from:
Net investment income	(1.31)	(1.82)	(1.26)	(1.19)	(1.31)
Net asset value, end of period	$ 53.57	$ 45.63	$ 59.20	$ 44.37	$ 43.50
Total return	20.50%(e)	(20.33)%	36.48%	4.75%	(0.07)%
Ratios and Supplemental Data:
Net assets, end of period (in 000s)	$792,821	$552,177	$651,163	$505,767	$522,052
Ratios to average net assets:
Total expenses	0.65%	0.65%	0.65%	0.65%	0.65%
Net investment income (loss)	2.62%	2.70%	1.97%	2.22%	2.58%
Portfolio turnover rate (f)	29%	23%	42%	30%	23%

(a)	Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b)	Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.
(c)	Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(d)	Amount is less than $0.005 per share.
(e)	If an affiliate had not made a contribution during the year ended September 30, 2023, the total return would have remained 20.50%.
(f)	Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

See accompanying notes to financial statements.

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Selected data for a share outstanding throughout each period

	SPDR S&P Global Dividend ETF
	Year Ended 9/30/23	Year Ended 9/30/22	Year Ended 9/30/21	Year Ended 9/30/20	Year Ended 9/30/19(a)
Net asset value, beginning of period	$ 53.52	$ 65.92	$ 53.12	$ 67.49	$ 68.01
Income (loss) from investment operations:
Net investment income (loss) (b)	2.91	2.92	2.90	2.72	2.85
Net realized and unrealized gain (loss) (c)	1.35	(12.21)	13.07	(14.24)	(0.34)
Total from investment operations	4.26	(9.29)	15.97	(11.52)	2.51
Net equalization credits and charges (b)	—	—	—	—	0.04
Other capital	0.00(d)	0.00(d)	0.01	0.00(d)	0.00(d)
Distributions to shareholders from:
Net investment income	(2.95)	(3.11)	(3.18)	(2.85)	(3.07)
Net asset value, end of period	$ 54.83	$ 53.52	$ 65.92	$ 53.12	$ 67.49
Total return (e)	7.87%	(14.69)%	30.37%	(17.21)%	3.98%
Ratios and Supplemental Data:
Net assets, end of period (in 000s)	$209,730	$216,737	$322,998	$212,462	$276,689
Ratios to average net assets:
Total expenses	0.41%	0.40%	0.40%	0.40%	0.40%
Net investment income (loss)	4.99%	4.49%	4.46%	4.54%	4.31%
Portfolio turnover rate (f)	71%	49%	49%	82%	53%

(a)	Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b)	Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.
(c)	Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(d)	Amount is less than $0.005 per share.
(e)	Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(f)	Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

See accompanying notes to financial statements.

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Selected data for a share outstanding throughout each period

	SPDR S&P Global Infrastructure ETF
	Year Ended 9/30/23	Year Ended 9/30/22	Year Ended 9/30/21	Year Ended 9/30/20	Year Ended 9/30/19(a)
Net asset value, beginning of period	$ 48.01	$ 52.87	$ 44.29	$ 53.31	$ 48.50
Income (loss) from investment operations:
Net investment income (loss) (b)	1.72	1.42	1.46	1.48	1.86
Net realized and unrealized gain (loss) (c)	1.37	(4.73)	8.36	(8.96)	4.63
Total from investment operations	3.09	(3.31)	9.82	(7.48)	6.49
Other capital	0.00(d)	0.00(d)	0.00(d)	0.00(d)	0.00(d)
Distributions to shareholders from:
Net investment income	(1.66)	(1.55)	(1.24)	(1.54)	(1.68)
Net asset value, end of period	$ 49.44	$ 48.01	$ 52.87	$ 44.29	$ 53.31
Total return (e)	6.24%	(6.63)%	22.28%	(14.46)%	13.76%
Ratios and Supplemental Data:
Net assets, end of period (in 000s)	$417,803	$489,707	$438,813	$341,045	$399,823
Ratios to average net assets:
Total expenses	0.40%	0.40%	0.40%	0.40%	0.40%
Net investment income (loss)	3.24%	2.60%	2.84%	3.07%	3.69%
Portfolio turnover rate (f)	21%	14%	14%	15%	14%

(a)	Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b)	Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.
(c)	Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(d)	Amount is less than $0.005 per share.
(e)	Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(f)	Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

See accompanying notes to financial statements.

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Selected data for a share outstanding throughout each period

	SPDR S&P International Dividend ETF
	Year Ended 9/30/23	Year Ended 9/30/22	Year Ended 9/30/21	Year Ended 9/30/20	Year Ended 9/30/19(a)
Net asset value, beginning of period	$ 29.02	$ 38.11	$ 33.70	$ 38.98	$ 38.05
Income (loss) from investment operations:
Net investment income (loss) (b)	1.42	1.50	1.34	1.31	1.47
Net realized and unrealized gain (loss) (c)	3.98	(8.88)	4.44	(4.88)	1.16
Total from investment operations	5.40	(7.38)	5.78	(3.57)	2.63
Net equalization credits and charges (b)	—	—	—	—	(0.01)
Other capital	0.00(d)	0.00(d)	0.00(d)	0.00(d)	0.00(d)
Distributions to shareholders from:
Net investment income	(1.39)	(1.71)	(1.37)	(1.71)	(1.69)
Net asset value, end of period	$ 33.03	$ 29.02	$ 38.11	$ 33.70	$ 38.98
Total return (e)	18.58%	(19.98)%	17.20%	(9.24)%	7.12%
Ratios and Supplemental Data:
Net assets, end of period (in 000s)	$490,595	$460,070	$632,730	$571,183	$781,556
Ratios to average net assets:
Total expenses	0.46%	0.45%	0.45%	0.45%	0.45%
Net investment income (loss)	4.23%	4.06%	3.52%	3.64%	3.89%
Portfolio turnover rate (f)	64%	71%	54%	65%	66%

(a)	Beginning with the year ended September 30, 2020, the Fund was audited by Ernst & Young LLP. The previous years were audited by another independent registered public accounting firm.
(b)	Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the year.
(c)	Amounts shown in this caption for a share outstanding may not accord with the change in aggregate gains and losses in securities for the fiscal period because of the timing of sales and repurchases of Fund shares in relation to fluctuating market values for the Fund.
(d)	Amount is less than $0.005 per share.
(e)	Total return is calculated assuming a purchase of shares at net asset value on the first day and a sale at net asset value on the last day of each period reported. Distributions are assumed, for the purpose of this calculation, to be reinvested at net asset value per share on the respective payment dates of each distribution. Total returns for periods of less than one year are not annualized. Broker commission charges are not included in this calculation.
(f)	Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions.

See accompanying notes to financial statements.

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1. Organization

SPDR Index Shares Funds (the “Trust”), a Massachusetts business trust, registered under the Investment Company Act of 1940, as amended (“1940 Act”), is an open-end management investment company.

As of September 30, 2023, the Trust consists of twenty-four (24) series, each of which represents a separate series of beneficial interest in the Trust. The Declaration of Trust permits the Board of Trustees of the Trust (the “Board”) to authorize the issuance of an unlimited number of shares of beneficial interest at $0.01 par value. The financial statements herein relate to the following series (each a “Fund”, and collectively, the “Funds”):

SPDR EURO STOXX 50 ETF

SPDR MSCI ACWI Climate Paris Aligned ETF

SPDR MSCI ACWI ex-US ETF

SPDR MSCI EAFE Fossil Fuel Reserves Free ETF

SPDR MSCI EAFE StrategicFactors ETF

SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF

SPDR MSCI Emerging Markets StrategicFactors ETF

SPDR MSCI World StrategicFactors ETF

SPDR S&P Emerging Asia Pacific ETF

SPDR S&P Emerging Markets Dividend ETF

SPDR S&P Emerging Markets Small Cap ETF

SPDR S&P Global Dividend ETF

SPDR S&P Global Infrastructure ETF

SPDR S&P International Dividend ETF

Each Fund is classified as a diversified investment company under the 1940 Act, with the exceptions of SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF and SPDR S&P Emerging Asia Pacific ETF which are each a non-diversified investment company.

Under the Trust’s organizational documents, its officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.

2. Summary of Significant Accounting Policies

The following is a summary of significant accounting policies followed by the Trust in the preparation of its financial statements:

The preparation of financial statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. Each Fund is an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies.

Security Valuation

Each Fund's investments are valued at fair value each day that the New York Stock Exchange (“NYSE”) is open and, for financial reporting purposes, as of the report date should the reporting period end on a day that the NYSE is not open. Fair value is generally defined as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. By its nature, a fair value price is a good faith estimate of the valuation in a current sale and may not reflect an actual market price. The investments of each Fund are valued pursuant to the policy and procedures developed by the Oversight Committee (the “Committee”) and approved by the Board. The Committee provides oversight of the valuation of investments for the Funds. The Board has responsibility for overseeing the determination of the fair value of investments.

Valuation techniques used to value each Fund’s investments by major category are as follows:

• Equity investments (including registered investment companies that are exchange-traded funds) traded on a recognized securities exchange for which market quotations are readily available are valued at the last sale price or official closing price, as applicable, on the primary market or exchange on which they trade. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last published sale price or at fair value.

• Rights and warrants are valued at the last reported sale price obtained from independent pricing services or brokers on the valuation date. If no price is obtained from pricing services or brokers, valuation will be based

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upon the intrinsic value, pursuant to the valuation policy and procedures approved by the Board.

• Investments in registered investment companies (including money market funds) or other unitized pooled investment vehicles that are not traded on an exchange are valued at that day’s published net asset value (“NAV”) per share or unit.

• Exchange-traded futures contracts are valued at the closing settlement price on the primary market on which they are traded most extensively. Exchange-traded futures contracts traded on a recognized exchange for which there were no sales on that day are valued at the last reported sale price obtained from independent pricing services or brokers or at fair value.

In the event prices or quotations are not readily available or that the application of these valuation methods results in a price for an investment that is deemed to be not representative of the fair value of such investment, fair value will be determined in good faith by the Committee, in accordance with the valuation policy and procedures approved by the Board.

Fair value pricing could result in a difference between the prices used to calculate a Fund's NAV and the prices used by the Funds' underlying benchmarks. Various inputs are used in determining the value of the Funds' investments.

The Funds value their assets and liabilities at fair value using a fair value hierarchy consisting of three broad levels that prioritize the inputs to valuation techniques giving the highest priority to readily available unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements) when market prices are not readily available or reliable. The categorization of a value determined for an investment within the hierarchy is based upon the pricing transparency of the investment and is not necessarily an indication of the risk associated with investing in it.

The three levels of the fair value hierarchy are as follows:

• Level 1 – Unadjusted quoted prices in active markets for an identical asset or liability;

• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability (such as exchange rates, financing terms, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs; and

• Level 3 – Unobservable inputs for the asset or liability, including the Committee’s assumptions used in determining the fair value of investments.

The value of each Fund’s investments according to the fair value hierarchy as of September 30, 2023, is disclosed in each Fund’s respective Schedule of Investments.

Investment Transactions and Income Recognition

Investment transactions are accounted for on trade date for financial reporting purposes. Realized gains and losses from the sale or disposition of investments and foreign exchange transactions, if any, are determined using the identified cost method.

Dividend income and capital gain distributions, if any, are recognized on the ex-dividend date, or when the information becomes available, net of any foreign taxes withheld at source, if any. Non-cash dividends received in the form of stock, if any, are recorded as dividend income at fair value. Distributions received by the Funds may include a return of capital that is estimated by management. Such amounts are recorded as a reduction of the cost of investments or reclassified to capital gains.

Certain Funds invest in U.S. real estate investment trusts (“US REITs”). US REITs determine the tax character of their distributions annually and may characterize a portion of their distributions as a return of capital or capital gain. The Funds' policy is to record all REIT distributions initially as dividend income and re-designate a portion to return of capital or capital gain distributions at year end based on information provided by the US REIT and/or SSGA Funds Management, Inc.'s (the “Adviser” or “SSGA FM”) estimates of such re-designations for which actual

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information has not yet been reported.

Expenses

Certain expenses, which are directly identifiable to a specific Fund, are applied to that Fund within the Trust. Other expenses which cannot be attributed to a specific Fund are allocated in such a manner as deemed equitable, taking into consideration the nature and type of expense and the relative net assets of the Funds within the Trust.

Foreign Currency Translation

The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies as well as investment securities and other assets and liabilities denominated in a foreign currency are translated to U.S. dollars using exchange rates at period end. Purchases and sales of securities, income receipts and expense payments denominated in foreign currencies are translated into U.S. dollars at the prevailing exchange rate on the respective dates of the transactions.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Foreign Taxes

The Funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, stock dividends, realized and unrealized capital gains on investments or certain foreign currency transactions. Foreign taxes are recorded in accordance with SSGA FM's understanding of the applicable foreign tax regulations and rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are paid by the Fund and are reflected in the Statements of Operations, if applicable. Foreign taxes payable or deferred as of September 30, 2023, if any, are disclosed in the Funds' Statements of Assets and Liabilities.

As a result of several court cases, in certain countries across the European Union (“EU"), certain Funds filed for additional tax reclaims for previously withheld taxes on dividends earned in those countries. These additional filings are subject to various administrative proceedings by the local jurisdictions’ tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized for such EU reclaims is reflected in the Statement of Operations and presented separately as "EU Reclaims" in cases where such reclaims exceed 5% of total investment income. When uncertainty exists as to the ultimate resolution of these proceedings, the likelihood of receipt of these EU reclaims, and the potential timing of payment, no amounts are reflected in the financial statements.

For U.S. income tax purposes, EU reclaims received by a Fund, if any, reduce the amounts of foreign taxes the Fund’s shareholders can use as tax credits in their individual income tax returns. In the event that EU reclaims received by a Fund during the fiscal year exceed foreign withholding taxes paid, and the Fund previously passed foreign tax credit on to its shareholders, a Fund will enter into a closing agreement with the Internal Revenue Service in order to pay the associated tax liability on behalf of a Fund’s shareholders.

Equalization

Certain Funds follow the accounting practice known as “Equalization” by which a portion of the proceeds from sales and costs of reacquiring Fund shares, equivalent on a per share basis to the amount of distributable net investment income on the date of the transaction, is credited or charged to undistributed net investment income. As a result, undistributed net investment income per share is unaffected by sales or reacquisition of Fund shares. Amounts related to Equalization can be found on the Statements of Changes in Net Assets.

The following Funds utilized equalization during the year ended September 2023:

SPDR EURO STOXX 50 ETF

SPDR MSCI ACWI Climate Paris Aligned ETF

SPDR MSCI EAFE Fossil Fuel Reserves Free ETF

SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF

SPDR S&P Emerging Markets Dividend ETF

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Distributions

The following Funds declare and distribute from net investment income, if any, to its shareholders quarterly:

SPDR EURO STOXX 50 ETF

SPDR S&P Emerging Markets Dividend ETF

SPDR S&P Global Dividend ETF

SPDR S&P International Dividend ETF

The following Funds declare and distribute from net investment income, if any, to their shareholders semi-annually:

SPDR MSCI ACWI Climate Paris Aligned ETF

SPDR MSCI ACWI ex-US ETF

SPDR MSCI EAFE Fossil Fuel Reserves Free ETF

SPDR MSCI EAFE StrategicFactors ETF

SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF

SPDR MSCI Emerging Markets StrategicFactors ETF

SPDR MSCI World StrategicFactors ETF

SPDR S&P Emerging Asia Pacific ETF

SPDR S&P Emerging Markets Small Cap ETF

SPDR S&P Global Infrastructure ETF

Net realized capital gains, if any, are distributed annually. Dividends may be declared and paid more frequently or at any other times to improve Index tracking or to comply with the distribution requirements of the Internal Revenue Code of 1986, as amended ("Internal Revenue Code"). The amount and character of income and capital gains to be distributed are determined in accordance with applicable tax regulations which may differ from net investment income and realized gains recognized for U.S. GAAP purposes.

3. Derivative Financial Instruments

Futures Contracts

The Funds may enter into futures contracts to meet the Funds’ objectives. A futures contract is a standardized, exchange-traded agreement to buy or sell a financial instrument at a set price on a future date. Upon entering into a futures contract, a Fund is required to deposit with the broker, cash or securities in an amount equal to the minimum initial margin requirements of the clearing house. Securities deposited, if any, are designated on the Schedules of Investments and cash deposited, if any, is included in Net cash at broker on the Statements of Assets and Liabilities. Subsequent payments are made or received by the Funds equal to the daily change in the contract value, accumulated, exchange rates, and or other transactional fees. The accumulation of those payments are recorded as variation margin receivable or payable with a corresponding offset to unrealized gains or losses. The Funds recognize a realized gain or loss when the contract is closed.

Losses may arise if the value of a futures contract decreases due to unfavorable changes in the market rates or values of the underlying instrument during the term of the contract or if the counterparty does not perform under the contract. The use of futures contracts also involves the risk that the movements in the price of the futures contracts do not correlate with the movement of the assets underlying such contracts.

For the year ended September 30, 2023, the SPDR MSCI ACWI Climate Paris Aligned ETF, the SPDR MSCI ACWI ex-US ETF, the SPDR S&P Emerging Markets Dividend ETF, the SPDR S&P Emerging Markets Small Cap ETF and the SPDR S&P Global Dividend ETF entered into futures contracts for cash equitization, to reduce tracking error and to facilitate daily liquidity.

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The following tables summarize the value of the Fund's derivative instruments as of September 30, 2023, and the related location in the accompanying Statements of Assets and Liabilities and Statements of Operations, presented by primary underlying risk exposure:

	Liability Derivatives
	Interest Rate Risk	Foreign Exchange Risk	Credit Risk	Equity Risk	Commodity Risk	Total
SPDR MSCI ACWI Climate Paris Aligned ETF
Futures Contracts	$—	$—	$—	$ 92,925	$—	$ 92,925
SPDR MSCI ACWI ex-US ETF
Futures Contracts	—	—	—	326,712	—	326,712
SPDR S&P Emerging Markets Dividend ETF
Futures Contracts	—	—	—	53,287	—	53,287
SPDR S&P Emerging Markets Small Cap ETF
Futures Contracts	—	—	—	255,487	—	255,487
SPDR S&P Global Dividend ETF
Futures Contracts	—	—	—	84,111	—	84,111

	Net Realized Gain (Loss)
	Interest Rate Risk	Foreign Exchange Risk	Credit Risk	Equity Risk	Commodity Risk	Total
SPDR MSCI ACWI Climate Paris Aligned ETF
Futures Contracts	$—	$—	$—	$ 321,472	$—	$ 321,472
SPDR MSCI ACWI ex-US ETF
Futures Contracts	—	—	—	(379,772)	—	(379,772)
SPDR S&P Emerging Markets Dividend ETF
Futures Contracts	—	—	—	189,345	—	189,345
SPDR S&P Emerging Markets Small Cap ETF
Futures Contracts	—	—	—	(67,705)	—	(67,705)
SPDR S&P Global Dividend ETF
Futures Contracts	—	—	—	86,325	—	86,325

	Net Change in Unrealized Appreciation/Depreciation
	Interest Rate Risk	Foreign Exchange Risk	Credit Risk	Equity Risk	Commodity Risk	Total
SPDR MSCI ACWI Climate Paris Aligned ETF
Futures Contracts	$—	$—	$—	$ (95,451)	$—	$ (95,451)
SPDR MSCI ACWI ex-US ETF
Futures Contracts	—	—	—	(327,156)	—	(327,156)
SPDR S&P Emerging Markets Dividend ETF
Futures Contracts	—	—	—	38,739	—	38,739
SPDR S&P Emerging Markets Small Cap ETF
Futures Contracts	—	—	—	181,273	—	181,273
SPDR S&P Global Dividend ETF
Futures Contracts	—	—	—	(84,167)	—	(84,167)

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4. Fees and Transactions with Affiliates

Advisory Fee

The Trust, on behalf of each Fund, has entered into an Investment Advisory Agreement with SSGA FM. For its advisory services to the Funds, facilities furnished and expenses borne by the Adviser, each Fund pays the Adviser a fee (“Management/Advisory fee”) accrued daily and paid monthly, based on a percentage of each Fund’s average daily net assets as shown in the following table:

	Annual Rate
SPDR EURO STOXX 50 ETF	0.29%
SPDR MSCI ACWI Climate Paris Aligned ETF	0.12
SPDR MSCI ACWI ex-US ETF	0.30
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF	0.20
SPDR MSCI EAFE StrategicFactors ETF	0.30
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF	0.30
SPDR MSCI Emerging Markets StrategicFactors ETF	0.30
SPDR MSCI World StrategicFactors ETF	0.30
SPDR S&P Emerging Asia Pacific ETF	0.49
SPDR S&P Emerging Markets Dividend ETF	0.49
SPDR S&P Emerging Markets Small Cap ETF	0.65
SPDR S&P Global Dividend ETF	0.40
SPDR S&P Global Infrastructure ETF	0.40
SPDR S&P International Dividend ETF	0.45

From time to time, the Adviser may waive all or a portion of its Management fee. The Adviser has contractually agreed to waive a portion of its Management fee and/or reimburse expenses in an amount equal to any acquired fund fees and expenses (excluding holdings in acquired funds for cash management purposes, if any) for each Fund until January 31, 2024. This waiver and/or reimbursement does not provide for the recoupment by the Adviser of any amounts waived or reimbursed. This waiver and/or reimbursement may not be terminated prior to January 31, 2024 except with the approval of the Funds’ Board of Trustees.

The Adviser pays all the expenses of each Fund other than the Management fee, brokerage expenses, taxes, interest, fees and expenses of the Trust’s trustees, who are not “interested persons” of the Trust, as defined in the 1940 Act (“Independent Trustees”) (including any Trustee’s counsel fees), litigation expenses, acquired fund fees and expenses and other extraordinary expenses.

Administrator, Custodian, Sub-Administrator and Transfer Agent Fees

SSGA FM serves as administrator and State Street Bank and Trust Company (“State Street”), an affiliate of the Adviser, serves as custodian, sub-administrator and transfer agent. State Street receives fees for its services as custodian, sub-administrator and transfer agent from the Adviser.

Distributor

State Street Global Advisors Funds Distributors, LLC (“SSGA FD” or the “Distributor”), an affiliate of the Adviser, serves as the distributor of the Trust.

Other Transactions with Affiliates - Securities Lending

State Street, an affiliate of the Funds, acts as the securities lending agent for the Funds, pursuant to a Master Amended and Restated Securities Lending Authorization Agreement dated January 6, 2017, as amended.

Net proceeds collected by State Street on investment of cash collateral or any fee income less rebates payable to borrowers, are paid as follows: If the calendar year to date net proceeds are below a specified threshold across SPDR ETFs, each Fund retains eighty five percent (85%) of the net proceeds and fifteen percent (15%) of such net proceeds is payable to State Street. Starting the business day following the date that calendar year to date net proceeds exceeds a specified threshold, each Fund retains ninety percent (90%) of the net proceeds and ten

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percent (10%) of such net proceeds is payable to State Street.

In addition, cash collateral from lending activities is invested in the State Street Navigator Securities Lending Portfolio II, an affiliated money market fund, for which SSGA FM serves as investment adviser. See Note 9 for additional information regarding securities lending.

Other Transactions with Affiliates

The Funds may invest in affiliated entities, including securities issued by State Street Corporation, affiliated funds, or entities deemed to be affiliates as a result of the Funds owning more than five percent of the entity’s voting securities or outstanding shares. Amounts relating to these transactions during the year ended September 30, 2023 are disclosed in the Schedules of Investments.

During the year ended September 30, 2023, State Street made a contribution to the SPDR S&P Emerging Markets Small Cap ETF in the amount of $1,489 related to an accounting matter.

Due to Custodian

In certain circumstances, the Funds may have cash overdrafts with the Custodian due to expense payments, capital transactions, trading of securities, investment operations or derivative transactions. The Due to Custodian amount, if any, reflects cash overdrawn with State Street, as custodian, who is an affiliate of the Funds.

5. Trustees’ Fees

The fees and expenses of the Independent Trustees and one interested, non-management trustee are paid directly by the Funds. The Independent Trustees are reimbursed for travel and other out-of-pocket expenses in connection with meeting attendance and industry seminars.

6. Investment Transactions

Purchases and sales of investments (excluding in-kind transactions and short term investments) for the year ended September 30, 2023, were as follows:

	Purchases	Sales
SPDR EURO STOXX 50 ETF	$261,626,559	$262,548,777
SPDR MSCI ACWI Climate Paris Aligned ETF	28,247,083	30,309,188
SPDR MSCI ACWI ex-US ETF	63,120,132	76,319,252
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF	12,569,956	9,343,124
SPDR MSCI EAFE StrategicFactors ETF	150,268,557	130,739,324
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF	7,952,778	18,448,116
SPDR MSCI Emerging Markets StrategicFactors ETF	13,490,867	10,399,320
SPDR MSCI World StrategicFactors ETF	10,911,187	10,335,220
SPDR S&P Emerging Asia Pacific ETF	31,825,285	43,459,529
SPDR S&P Emerging Markets Dividend ETF	217,266,945	203,102,079
SPDR S&P Emerging Markets Small Cap ETF	299,175,107	198,827,561
SPDR S&P Global Dividend ETF	161,982,427	162,370,690
SPDR S&P Global Infrastructure ETF	114,053,651	108,590,692
SPDR S&P International Dividend ETF	323,588,104	322,724,742

For the year ended September 30, 2023, the following Funds had in-kind contributions, redemptions and net realized gains/losses in the amounts as follows:

	In-kind Contributions	In-kind Redemptions	In-kind Net Realized Gains/(Losses)
SPDR EURO STOXX 50 ETF	$780,179,748	$191,754,641	$71,017,096
SPDR MSCI ACWI Climate Paris Aligned ETF	—	7,663,593	2,580,062

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	In-kind Contributions	In-kind Redemptions	In-kind Net Realized Gains/(Losses)
SPDR MSCI ACWI ex-US ETF	$ 84,834,639	$193,861,184	$56,029,281
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF	17,458,571	43,925,516	11,453,182
SPDR MSCI EAFE StrategicFactors ETF	233,399,802	154,391,094	25,032,586
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF	436,242	7,656,095	(544,964)
SPDR MSCI Emerging Markets StrategicFactors ETF	1,495,021	981,591	(58,787)
SPDR MSCI World StrategicFactors ETF	14,458,586	—	—
SPDR S&P Emerging Asia Pacific ETF	4,493,945	19,664,393	2,185,847
SPDR S&P Emerging Markets Dividend ETF	2,922,969	3,827,670	(199,845)
SPDR S&P Emerging Markets Small Cap ETF	31,844,611	5,181,147	1,513,539
SPDR S&P Global Dividend ETF	11,356,764	25,162,533	1,874,000
SPDR S&P Global Infrastructure ETF	64,110,477	161,650,608	29,270,074
SPDR S&P International Dividend ETF	58,631,098	96,239,426	6,835,128

7. Shareholder Transactions

Each Fund issues and redeems its shares, at NAV, by each Fund only in aggregations of a specified number of shares or multiples thereof (“Creation Units”). Except when aggregated in Creation Units, shares of each Fund are not redeemable. Transactions in capital shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets.

The consideration for the purchase of Creation Units of a Fund may consist of the in-kind deposit of a designated portfolio of securities and a specified amount of cash. Investors purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to the Trust and/or custodian, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units, including Creation Units for cash. An additional variable fee may be charged for certain transactions. Such variable charges, if any, are included in “Other Capital” on the Statements of Changes in Net Assets.

8. Income Tax Information

The Funds have qualified and intend to continue to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code. Each Fund will not be subject to federal income taxes to the extent it distributes its taxable income, including any net realized capital gains, for each fiscal year. Therefore, no provision for federal income tax is required.

The Funds file federal and various state and local tax returns as required. No income tax returns are currently under examination. Generally, the federal returns are subject to examination by the Internal Revenue Service for a period of three years from date of filing, while the state returns may remain open for an additional year depending upon jurisdiction. SSGA FM has analyzed each Fund's tax positions taken on tax returns for all open years and does not believe there are any uncertain tax positions that would require recognition of a tax liability.

Distributions to shareholders are recorded on ex-dividend date. Income dividends and gain distributions are determined in accordance with income tax rules and regulations, which may differ from generally accepted accounting principles.

Certain capital accounts in the financial statements have been adjusted for permanent book-tax differences. These adjustments have no impact on net asset values or results of operations. Temporary book tax differences will reverse in the future. These book tax differences are primarily due to differing treatments for character of distributions, nontaxable dividend adjustments to income, foreign currency gains and losses, foreign capital gains taxes, in-kind transactions, futures contracts, corporate actions, passive foreign investment companies, distributions in excess of current earnings, wash sale loss deferrals and partnership basis adjustments.

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The tax character of distributions paid during the year ended September 30, 2023, was as follows:

	Ordinary Income	Long-Term Capital Gains	Total
SPDR EURO STOXX 50 ETF	$78,231,979	$—	$78,231,979
SPDR MSCI ACWI Climate Paris Aligned ETF	4,221,883	—	4,221,883
SPDR MSCI ACWI ex-US ETF	46,277,058	—	46,277,058
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF	6,604,789	—	6,604,789
SPDR MSCI EAFE StrategicFactors ETF	27,515,344	—	27,515,344
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF	2,131,643	—	2,131,643
SPDR MSCI Emerging Markets StrategicFactors ETF	2,119,145	—	2,119,145
SPDR MSCI World StrategicFactors ETF	1,465,993	—	1,465,993
SPDR S&P Emerging Asia Pacific ETF	9,186,047	—	9,186,047
SPDR S&P Emerging Markets Dividend ETF	11,333,930	—	11,333,930
SPDR S&P Emerging Markets Small Cap ETF	18,030,510	—	18,030,510
SPDR S&P Global Dividend ETF	11,949,184	—	11,949,184
SPDR S&P Global Infrastructure ETF	17,967,278	—	17,967,278
SPDR S&P International Dividend ETF	21,235,945	—	21,235,945

The tax character of distributions paid during the year ended September 30, 2022, was as follows:

	Ordinary Income	Long-Term Capital Gains	Total
SPDR EURO STOXX 50 ETF	$ 73,669,991	$ —	$ 73,669,991
SPDR MSCI ACWI Climate Paris Aligned ETF	3,322,265	—	3,322,265
SPDR MSCI ACWI ex-US ETF	55,147,029	—	55,147,029
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF	7,750,066	—	7,750,066
SPDR MSCI EAFE StrategicFactors ETF	26,318,489	—	26,318,489
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF	2,383,221	—	2,383,221
SPDR MSCI Emerging Markets StrategicFactors ETF	2,126,097	—	2,126,097
SPDR MSCI World StrategicFactors ETF	1,118,528	—	1,118,528
SPDR S&P Emerging Asia Pacific ETF	15,021,993	—	15,021,993
SPDR S&P Emerging Markets Dividend ETF	11,300,604	—	11,300,604
SPDR S&P Emerging Markets Small Cap ETF	20,565,254	—	20,565,254
SPDR S&P Global Dividend ETF	13,101,784	—	13,101,784
SPDR S&P Global Infrastructure ETF	13,769,273	—	13,769,273
SPDR S&P International Dividend ETF	27,767,256	—	27,767,256

At September 30, 2023, the components of distributable earnings on a tax basis were as follows:

	Undistributed Ordinary Income	Capital Loss Carryforwards	Undistributed Long-Term Capital Gains	Net Unrealized Gains (Losses)	Total
SPDR EURO STOXX 50 ETF	$ 2,956,557	$(699,188,216)	$—	$(98,366,605)	$(794,598,264)
SPDR MSCI ACWI Climate Paris Aligned ETF	981,768	(12,169,173)	—	393,565	(10,793,840)
SPDR MSCI ACWI ex-US ETF	13,452,267	(183,197,339)	—	(67,109,266)	(236,854,338)
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF	1,126,156	(10,395,842)	—	(16,917,286)	(26,186,972)
SPDR MSCI EAFE StrategicFactors ETF	8,297,826	(79,524,152)	—	(50,013,525)	(121,239,851)
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF	834,532	(9,588,942)	—	(8,927,141)	(17,681,551)
SPDR MSCI Emerging Markets StrategicFactors ETF	—	(10,344,683)	—	(536,599)	(10,881,282)
SPDR MSCI World StrategicFactors ETF	542,850	(2,209,298)	—	11,567,574	9,901,126
SPDR S&P Emerging Asia Pacific ETF	6,242,064	(64,365,297)	—	(14,342,036)	(72,465,269)
SPDR S&P Emerging Markets Dividend ETF	566,588	(268,359,005)	—	(10,388,857)	(278,181,274)
SPDR S&P Emerging Markets Small Cap ETF	12,404,497	(102,566,859)	—	18,459,905	(71,702,457)
SPDR S&P Global Dividend ETF	—	(93,731,093)	—	(32,427,812)	(126,158,905)

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September 30, 2023

	Undistributed Ordinary Income	Capital Loss Carryforwards	Undistributed Long-Term Capital Gains	Net Unrealized Gains (Losses)	Total
SPDR S&P Global Infrastructure ETF	$ 1,799,015	$ (60,005,350)	$—	$(36,964,594)	$ (95,170,929)
SPDR S&P International Dividend ETF	—	(499,611,197)	—	(31,128,408)	(530,739,605)

As of September 30, 2023, the following Funds had capital loss carryforwards available to offset future realized capital gains as follows:

	Non-Expiring Short Term	Non-Expiring Long Term
SPDR EURO STOXX 50 ETF	$ 63,602,829	$635,585,387
SPDR MSCI ACWI Climate Paris Aligned ETF	4,172,588	7,996,585
SPDR MSCI ACWI ex-US ETF	16,762,074	166,435,265
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF	2,384,738	8,011,104
SPDR MSCI EAFE StrategicFactors ETF	17,615,627	61,908,525
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF	3,274,895	6,314,047
SPDR MSCI Emerging Markets StrategicFactors ETF	8,109,054	2,235,629
SPDR MSCI World StrategicFactors ETF	488,911	1,720,387
SPDR S&P Emerging Asia Pacific ETF	13,631,435	50,733,862
SPDR S&P Emerging Markets Dividend ETF	101,620,511	166,738,494
SPDR S&P Emerging Markets Small Cap ETF	632,145	101,934,714
SPDR S&P Global Dividend ETF	59,143,028	34,588,065
SPDR S&P Global Infrastructure ETF	11,121,975	48,883,375
SPDR S&P International Dividend ETF	211,853,578	287,757,619

As of September 30, 2023, gross unrealized appreciation and gross unrealized depreciation of investments
and other financial instruments based on cost for federal income tax purposes were as follows:

	Tax Cost	Gross Unrealized Appreciation	Gross Unrealized Depreciation	Net Unrealized Appreciation (Depreciation)
SPDR EURO STOXX 50 ETF	$2,451,609,299	$157,809,422	$255,588,439	$(97,779,017)
SPDR MSCI ACWI Climate Paris Aligned ETF	238,841,320	24,892,946	24,484,518	408,428
SPDR MSCI ACWI ex-US ETF	1,541,830,093	221,781,744	287,536,354	(65,754,610)
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF	242,195,594	16,183,276	33,093,041	(16,909,765)
SPDR MSCI EAFE StrategicFactors ETF	985,712,139	58,281,708	108,250,815	(49,969,107)
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF	84,643,189	13,396,773	22,039,543	(8,642,770)
SPDR MSCI Emerging Markets StrategicFactors ETF	47,105,361	8,714,089	9,028,506	(314,417)
SPDR MSCI World StrategicFactors ETF	76,833,451	15,403,182	3,834,956	11,568,226
SPDR S&P Emerging Asia Pacific ETF	357,345,892	92,061,638	103,913,844	(11,852,206)
SPDR S&P Emerging Markets Dividend ETF	260,816,762	14,177,885	24,523,837	(10,345,952)
SPDR S&P Emerging Markets Small Cap ETF	781,701,653	108,127,911	85,444,639	22,683,272
SPDR S&P Global Dividend ETF	260,793,194	6,498,041	38,899,167	(32,401,126)
SPDR S&P Global Infrastructure ETF	461,776,280	16,333,513	53,291,616	(36,958,103)
SPDR S&P International Dividend ETF	548,732,941	20,480,079	51,585,935	(31,105,856)

9. Securities Lending

Each Fund may lend securities to qualified broker-dealers or institutional investors. The loans are secured at all times by cash, cash equivalents or U.S. government securities in an amount at least equal to the market value of the securities loaned, plus accrued interest and dividends, determined on a daily basis and adjusted accordingly. The value of the collateral with respect to a loaned security may be temporarily more or less than the value of a security due to market fluctuations of securities values. With respect to each loan, if on any U.S. business day the aggregate market value of securities collateral plus cash collateral is less than the aggregate market value of the securities which are subject to the loan, the borrower will be notified to provide additional collateral on the next business day.

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The Funds will regain record ownership of loaned securities to exercise certain beneficial rights; however, the Funds may bear the risk of delay in recovery of, or even loss of rights in the securities loaned should the borrower fail financially. In addition, a Fund will bear the risk of loss of any cash collateral that it may invest. Each Fund receives compensation for lending its securities from interest or dividends earned on the cash, cash equivalents or U.S. government securities held as collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as the lending agent. Additionally, a Fund will receive a fee from the borrower for non-cash collateral equal to a percentage of the market value of the loaned securities.

The market value of securities on loan as of September 30, 2023, and the value of the invested cash collateral are disclosed in the Funds' Statements of Assets and Liabilities. Non-cash collateral is not disclosed in the Funds Statements of Assets and Liabilities as it is held by the lending agent on behalf of the Funds, and the Funds do not have the ability to re-hypothecate those securities. Securities lending income, as disclosed in the Funds Statements of Operations, represents the income earned from the non-cash collateral and the investment of cash collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as lending agent.

The following is a summary of each Fund's securities lending agreements and related cash and non-cash collateral received as of September 30, 2023:

Fund	Market Value of Securities on Loan	Cash Collateral Received	Non-Cash Collateral Received*	Total Collateral Received
SPDR MSCI ACWI Climate Paris Aligned ETF	$ 8,165,329	$ 7,811,145	$ 763,299	$ 8,574,444
SPDR MSCI ACWI ex-US ETF	60,844,717	46,462,476	17,515,966	63,978,442
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF	5,720,036	3,114,574	2,712,426	5,827,000
SPDR MSCI EAFE StrategicFactors ETF	21,809,704	16,583,362	5,710,060	22,293,422
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF	1,124,115	520,327	674,081	1,194,408
SPDR MSCI Emerging Markets StrategicFactors ETF	864,898	710,915	191,746	902,661
SPDR MSCI World StrategicFactors ETF	2,948,470	2,667,879	437,550	3,105,429
SPDR S&P Emerging Asia Pacific ETF	8,268,874	6,677,860	2,224,701	8,902,561
SPDR S&P Emerging Markets Dividend ETF	1,239,902	12,732	1,309,835	1,322,567
SPDR S&P Emerging Markets Small Cap ETF	48,840,125	13,157,590	40,661,205	53,818,795
SPDR S&P Global Dividend ETF	26,653,650	20,930,864	7,505,085	28,435,949
SPDR S&P Global Infrastructure ETF	8,145,517	7,690,543	956,329	8,646,872
SPDR S&P International Dividend ETF	51,342,482	31,486,306	22,717,744	54,204,050

*	The non-cash collateral includes U.S. Treasuries and U.S. Government Agency securities.

The following table reflects a breakdown of transactions accounted for as secured borrowings, the gross obligation by the type of collateral pledged or securities loaned, and the remaining contractual maturity of those transactions as of September 30, 2023:

		Remaining Contractual Maturity of the Agreements as of September 30, 2023
Fund	Securities Lending Transactions	Overnight and Continuous	<30 Days	Between 30 & 90 Days	>90 Days	Total Borrowings	Gross Amount of Recognized Liabilities for Securities Lending Transactions
SPDR MSCI ACWI Climate Paris Aligned ETF	Common Stocks	$ 7,811,145	$—	$—	$—	$ 7,811,145	$ 7,811,145
SPDR MSCI ACWI Ex-US ETF	Common Stocks	46,462,476	—	—	—	46,462,476	46,462,476
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF	Common Stocks	3,114,574	—	—	—	3,114,574	3,114,574
SPDR MSCI EAFE StrategicFactors ETF	Common Stocks	16,583,362	—	—	—	16,583,362	16,583,362
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF	Common Stocks	520,327	—	—	—	520,327	520,327
SPDR MSCI Emerging Markets StrategicFactors ETF	Common Stocks	710,915	—	—	—	710,915	710,915

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September 30, 2023

		Remaining Contractual Maturity of the Agreements as of September 30, 2023
Fund	Securities Lending Transactions	Overnight and Continuous	<30 Days	Between 30 & 90 Days	>90 Days	Total Borrowings	Gross Amount of Recognized Liabilities for Securities Lending Transactions
SPDR MSCI World StrategicFactors ETF	Common Stocks	$ 2,667,879	$—	$—	$—	$ 2,667,879	$ 2,667,879
SPDR S&P Emerging Asia Pacific ETF	Common Stocks	6,677,860	—	—	—	6,677,860	6,677,860
SPDR S&P Emerging Markets Dividend ETF	Common Stocks	12,732	—	—	—	12,732	12,732
SPDR S&P Emerging Markets Small Cap ETF	Common Stocks	13,157,590	—	—	—	13,157,590	13,157,590
SPDR S&P Global Dividend ETF	Common Stocks	20,930,864	—	—	—	20,930,864	20,930,864
SPDR S&P Global Infrastructure ETF	Common Stocks	7,690,543	—	—	—	7,690,543	7,690,543
SPDR S&P International Dividend ETF	Common Stocks	31,486,306	—	—	—	31,486,306	31,486,306

10. Line of Credit

As of September 30, 2023, certain Funds and other affiliated funds (each, a “Participant” and collectively, the “Participants”) have access to $200 million of a $1.275 billion ($1.1 billion prior to October 6, 2022) revolving credit facility, provided by a syndication of banks under which the Participants may borrow to fund shareholder redemptions. Effective October 5, 2023, certain Funds have access to $180 million of a $960 million revolving credit facility. This agreement expires in October 2024 unless extended or renewed.

The following Funds participate in the credit facility as of September 30, 2023:

SPDR MSCI ACWI Climate Paris Aligned ETF

SPDR MSCI ACWI ex-US ETF

SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF

SPDR MSCI Emerging Markets StrategicFactors ETF

SPDR S&P Emerging Asia Pacific ETF

SPDR S&P Emerging Markets Dividend ETF

SPDR S&P Emerging Markets Small Cap ETF

SPDR S&P International Dividend ETF

The Funds had no outstanding loans as of September 30, 2023..

The Participants are charged an annual commitment fee which is calculated based on the unused portion of the shared credit line. Commitment fees are allocated among each of the Participants based on relative net assets. Commitment fees are ordinary fund operating expenses paid by the Adviser. A participant incurs and pays the interest expense related to its borrowing Interest is calculated at a rate per annum equal to the sum of 1.00% plus the greater of the New York Fed Bank Rate and the one-month SOFR Rate.

11. Risks

Concentration Risk

As a result of the Funds’ ability to invest a large percentage of their assets in obligations of issuers within the same country, state, region, currency or economic sector, an adverse economic, business or political development may affect the value of the Funds’ investments more than if the Funds were more broadly diversified.

Foreign and Emerging Markets Risk

Investing in foreign markets involves risks and considerations not typically associated with investing in the U.S. Foreign securities may be subject to risk of loss because of government regulation, economic, political and social instability in the countries in which the Funds' invest. Foreign markets may be less liquid than investments in the U.S. and may be subject to the risks of currency fluctuations. To the extent that a Fund invests in securities of issuers located in emerging markets, these risks may be even more pronounced.

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Credit Risk

Each Fund may also be exposed to credit risk in the event that an issuer or guarantor fails to perform or that an institution or entity with which a Fund has unsettled or open transactions defaults.

Market Risk

Each Fund’s investments are subject to changes in general economic conditions, general market fluctuations and the risks inherent in investment in securities markets. Investment markets can be volatile and prices of investments can change substantially due to various factors including, but not limited to, economic growth or recession, changes in interest rates, changes in the actual or perceived creditworthiness of issuers, and general market liquidity. The Funds are subject to the risk that geopolitical events will disrupt securities markets and adversely affect global economies and markets. Local, regional, or global events such as war, acts of terrorism, the spread of infectious illness, such as COVID-19, or other public health issues, or other events could have a significant impact on a Fund and its investments.

Russian Sanctions Risk

Sanctions threatened or imposed by a number of jurisdictions, including the United States, the European Union and the United Kingdom, and other intergovernmental actions that have been or may be undertaken in the future, against Russia, Russian entities or Russian individuals, may result in the devaluation of Russian currency, a downgrade in the country’s credit rating, an immediate freeze of Russian assets, a decline in the value and liquidity of Russian securities, property or interests, and/or other adverse consequences to the Russian economy or a Fund. The scope and scale of sanctions in place at a particular time may be expanded or otherwise modified in a way that have negative effects on a Fund. Sanctions, or the threat of new or modified sanctions, could impair the ability of a Fund to buy, sell, hold, receive, deliver or otherwise transact in certain affected securities or other investment instruments. Sanctions could also result in Russia taking counter measures or other actions in response, which may further impair the value and liquidity of Russian securities. These sanctions, and the resulting disruption of the Russian economy, may cause volatility in other regional and global markets and may negatively impact the performance of various sectors and industries, as well as companies in other countries, which could have a negative effect on the performance of a Fund, even if a Fund does not have direct exposure to securities of Russian issuers. As a collective result of the imposition of sanctions, Russian government countermeasures and the impact that they have had on the trading markets for Russian securities, certain Funds have used, and may in the future use, fair valuation procedures approved by the Fund’s Board to value certain Russian securities, which could result in such securities being deemed to have a zero value.

12. Stock Split

The Board authorized a 2-for-1 stock split for the SPDR MSCI EAFE Fossil Fuel Reserves Free ETF and the SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF effective January 12, 2023, for the shareholders of record on January 9, 2023. The impact of the stock splits was to increase the number of shares outstanding by a factor of 2, while decreasing the NAV per share by a factor of 2, resulting in no effect to the net assets of the aforementioned Funds.

The Board authorized a 4-for-1 stock split for the SPDR MSCI ACWI Climate Paris Aligned ETF effective April 22, 2022, for the shareholders of record on April 19, 2022. The impact of the stock split was to increase the number of shares outstanding by a factor of 4, while decreasing the NAV per share by a factor of 4, resulting in no effect to the net assets of the aforementioned Fund.

The financial statements and financial highlights of the aforementioned Funds have been adjusted to reflect the stock splits.

13. Subsequent Events

Management has evaluated the impact of all subsequent events on the Funds through the date the financial statements were issued and has determined that there were no subsequent events requiring adjustment or disclosure in the financial statements.

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REPORT OF INDEPENDENT REGISTERED PUBLIC

ACCOUNTING FIRM

To the Shareholders of SPDR EURO STOXX 50 ETF, SPDR MSCI ACWI Climate Paris Aligned ETF, SPDR MSCI ACWI ex-US ETF, SPDR MSCI EAFE Fossil Fuel Reserves Free ETF, SPDR MSCI EAFE StrategicFactors ETF, SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF, SPDR MSCI Emerging Markets StrategicFactors ETF, SPDR MSCI World StrategicFactors ETF, SPDR S&P Emerging Asia Pacific ETF, SPDR S&P Emerging Markets Dividend ETF, SPDR S&P Emerging Markets Small Cap ETF, SPDR S&P Global Dividend ETF, SPDR S&P Global Infrastructure ETF and SPDR S&P International Dividend ETF and the Board of Trustees of SPDR Index Shares Funds

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of SPDR EURO STOXX 50 ETF, SPDR MSCI ACWI Climate Paris Aligned ETF, SPDR MSCI ACWI ex-US ETF, SPDR MSCI EAFE Fossil Fuel Reserves Free ETF, SPDR MSCI EAFE StrategicFactors ETF, SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF, SPDR MSCI Emerging Markets StrategicFactors ETF, SPDR MSCI World StrategicFactors ETF, SPDR S&P Emerging Asia Pacific ETF, SPDR S&P Emerging Markets Dividend ETF, SPDR S&P Emerging Markets Small Cap ETF, SPDR S&P Global Dividend ETF, SPDR S&P Global Infrastructure ETF and SPDR S&P International Dividend ETF (collectively referred to as the “Funds”) (fourteen of the funds constituting SPDR Index Shares Funds (the “Trust”)), including the schedules of investments, as of September 30, 2023, and the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the four years in the period then ended and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds (fourteen of the funds constituting SPDR Index Shares Funds) at September 30, 2023, the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended and their financial highlights for each of the four years in the period then ended, in conformity with U.S. generally accepted accounting principles.

The financial highlights for the period ended prior to October 1, 2019 were audited by another independent registered public accounting firm whose report, dated November 26, 2019, expressed an unqualified opinion on those financial highlights.

Basis for Opinion

These financial statements are the responsibility of the Trust’s management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust’s internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of September 30, 2023, by correspondence with the custodian, brokers and others; when replies were not received from brokers and others, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

We have served as the auditor of one or more State Street Global Advisors investment companies since 2000.

Boston, Massachusetts

November 22, 2023

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OTHER INFORMATION

September 30, 2023 (Unaudited)

Expense Example

As a shareholder of a Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads), if applicable, on purchase payments, reinvested dividends, or other distributions and (2) ongoing costs, including advisory fees and other Fund expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. It is based on an investment of $1,000 made at the beginning of the period shown and held for the entire period from April 1, 2023 to September 30, 2023.

The table below illustrates your Fund’s cost in two ways:

Based on actual fund return ——This section helps you to estimate the actual expenses that you paid over the period. The “Ending Account Value” shown is derived from each Fund's actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in each Fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for the Fund under the heading “Expenses Paid During Period”.

Based on hypothetical 5% return ——This section is intended to help you compare your Fund’s costs with those of other mutual funds. It assumes that the Fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case, because the return used is not the Fund’s actual return, the results do not apply to your investment. The example is useful in making comparisons because the U.S. Securities and Exchange Commission (the “SEC”) requires all mutual funds to calculate expenses based on a 5% return. You can assess your Fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs, such as sales load charges (loads). Therefore, the hypothetical 5% return section of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transaction costs were included, your costs would have been higher.

		Actual		Hypothetical (assuming a 5% return before expenses)
	Annualized Expense Ratio	Ending Account Value	Expenses Paid During Period(a)	Ending Account Value	Expenses Paid During Period(a)
SPDR EURO STOXX 50 ETF	0.29%	$ 965.30	$1.43	$1,023.60	$1.47
SPDR MSCI ACWI Climate Paris Aligned ETF	0.13	1,012.30	0.66	1,024.40	0.66
SPDR MSCI ACWI ex-US ETF	0.30	986.60	1.49	1,023.60	1.52
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF	0.21	978.50	1.04	1,024.00	1.07
SPDR MSCI EAFE StrategicFactors ETF	0.30	991.60	1.50	1,023.60	1.52
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF	0.30	969.10	1.48	1,023.60	1.52
SPDR MSCI Emerging Markets StrategicFactors ETF	0.30	992.70	1.50	1,023.60	1.52
SPDR MSCI World StrategicFactors ETF	0.30	1,030.00	1.53	1,023.60	1.52
SPDR S&P Emerging Asia Pacific ETF	0.49	984.30	2.44	1,022.60	2.48
SPDR S&P Emerging Markets Dividend ETF	0.49	1,180.60	2.68	1,022.60	2.48
SPDR S&P Emerging Markets Small Cap ETF	0.65	1,070.00	3.37	1,021.80	3.29
SPDR S&P Global Dividend ETF	0.41	959.30	2.01	1,023.00	2.08
SPDR S&P Global Infrastructure ETF	0.40	923.20	1.93	1,023.10	2.03
SPDR S&P International Dividend ETF	0.45	992.50	2.25	1,022.80	2.28

(a)	Expenses are equal to the Fund's annualized net expense ratio multiplied by the average account value of the period, multiplied by 183, then divided by 365.

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OTHER INFORMATION (continued)

September 30, 2023 (Unaudited)

Tax Information

For federal income tax purposes, the following information is furnished with respect to the distributions of the Trust for its fiscal year ended September 30, 2023.

Dividends Received Deduction

Each Fund reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends received deduction.

Qualified Dividend Income

A portion of dividends distributed by the Funds during the fiscal year ended September 30, 2023 are considered qualified dividend income and are eligible for reduced tax rates. Each Fund reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.

Qualified Business Income Deduction

Each Fund reports the maximum amount allowable of qualified REIT dividends eligible for the qualified business income deduction under Section 199A.

Qualified Interest Income

Each Fund reports the maximum amount allowable of its net taxable income and short-term capital gain as qualified interest income.

Foreign Tax Credit

The Funds have made an election under Internal Revenue Code Section 853 to pass through foreign taxes paid by the Funds to its shareholders. For the year ended September 30, 2023, the total amount of foreign taxes that will be passed through are:

	Amount
SPDR EURO STOXX 50 ETF	$2,997,859
SPDR MSCI ACWI ex-US ETF	3,319,661
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF	462,146
SPDR MSCI EAFE StrategicFactors ETF	2,109,766
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF	381,294
SPDR MSCI Emerging Markets StrategicFactors ETF	320,057
SPDR S&P Emerging Asia Pacific ETF	2,031,517
SPDR S&P Emerging Markets Dividend ETF	1,646,821
SPDR S&P Emerging Markets Small Cap ETF	4,409,400
SPDR S&P Global Dividend ETF	577,601
SPDR S&P Global Infrastructure ETF	970,717
SPDR S&P International Dividend ETF	738,365

The amount of foreign source income earned on the following Funds during the year ended September 30, 2023 was as follows:

	Amount
SPDR EURO STOXX 50 ETF	$88,218,253
SPDR MSCI ACWI ex-US ETF	52,268,623
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF	7,582,885
SPDR MSCI EAFE StrategicFactors ETF	34,207,422
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF	2,616,370

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OTHER INFORMATION (continued)

September 30, 2023 (Unaudited)

Approval of Advisory Agreement

At meetings held prior to September 30, 2023, the Board of Trustees of the Trust (the “Board”) evaluated proposals to continue the Investment Advisory Agreement (the “Agreement”) between the Trust and SSGA Funds Management, Inc. (the “Adviser” or “SSGA FM”) with respect to the series of the Trust (collectively, the “SPDR ETFs”). The Trustees who are not “interested persons” of the Trust within the meaning of the Investment Company Act of 1940, as amended (the “Independent Trustees”), also met separately to consider the Agreement. The Independent Trustees were advised by their independent legal counsel throughout the process.

To evaluate the Agreement, the Board requested and SSGA FM, the Trust's adviser and administrator, and State Street Bank and Trust Company, the Trust's sub-administrator, transfer agent and custodian (“State Street”) provided, such materials as the Board, with the advice of counsel, deemed reasonably necessary. In deciding whether to approve the Agreement, the Board considered various factors, including the (i) nature, extent and quality of services provided by the Adviser with respect to the SPDR ETFs under the Agreement, (ii) investment performance of the SPDR ETFs, (iii) profits realized by the Adviser and its affiliates from its relationship with the Trust, (iv) fees charged to comparable funds, (v) other benefits to the Adviser, and (vi) extent to which economies of scale would be shared as the SPDR ETFs grow.

Nature, Extent and Quality of Services

The Board considered the nature, extent and quality of services provided by the Adviser. In doing so, the Trustees relied on their prior experience in overseeing the management of the Trust and the materials provided prior to and at the meeting. The Board reviewed the Agreement and the Adviser's responsibilities for managing investment operations of each of the SPDR ETFs in accordance with each SPDR ETF's investment objectives and policies, and applicable legal and regulatory requirements. The Board appreciated the nature of the SPDR ETFs as exchange-traded funds and the experience and expertise of the Adviser in managing exchange-traded funds. The Board considered the background and experience of the Adviser's senior management, including those individuals responsible for portfolio management and regulatory compliance of the SPDR ETFs. The Board also considered the portfolio management resources, structures and practices of the Adviser, including those associated with monitoring and ensuring each SPDR ETF's compliance with its investment objectives and policies, and applicable laws and regulations. The Board further considered information about the Adviser's best execution procedures and overall investment management business, noting that the Adviser serves a wide range of clients across a broad spectrum of asset classes. The Board looked at the Adviser's general knowledge of the investment management business and that of its affiliates which make up State Street Global Advisors, through which the Adviser shares all of its senior personnel. The Board considered that the Adviser and its affiliates constitute one of the world's largest investment management enterprises for indexed products generally and exchange-traded funds in particular. The Board specifically considered the Adviser's experience in managing equity exchange-traded funds with index-based investment objectives.

Investment Performance

The Board then reviewed the SPDR ETFs' performance, noting that the analysis of investment performance, in absolute terms, was more complex for actively-managed funds. The Board focused on the extent to which each index-based SPDR ETF achieved its objective as a passively-managed index fund and reviewed information regarding such SPDR ETFs' index tracking.

Profits Realized by Adviser

The Board considered the profitability of the advisory arrangement with the SPDR ETFs to the Adviser and its affiliates, including data on the SPDR ETFs' historical profitability to these entities. The Board, including the Independent Trustees, with their independent legal counsel, had the opportunity to discuss, with representatives of the Adviser and State Street Global Advisors, methodologies used in computing costs that formed the bases of profitability calculations.

Fees Charged to Comparable Funds

The Board evaluated each SPDR ETF's unitary fee through review of comparative information with respect to fees paid by similar funds - i.e., exchange-traded funds tracking similar equity indexes with respect to each SPDR ETF. The Board reviewed the universe of similar exchange-traded funds for each SPDR ETF based upon data independently obtained from Broadridge Financial Solutions, Inc. and related comparative information for similar exchange-traded funds. In doing so, the Board used a fund by fund analysis of the data. In certain instances as considered appropriate by the Board, the Board explored with management the reasons for the differences between a SPDR ETF's fee and fees paid by similar funds.

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OTHER INFORMATION (continued)

September 30, 2023 (Unaudited)

Other Benefits

The Board also considered whether the Adviser or its affiliates benefited in other ways from its relationship with the Trust, noting that the Adviser does not maintain soft-dollar arrangements in connection with the Trust's brokerage transactions.

Economies of Scale

The Board reviewed information regarding economies of scale or other efficiencies that may result as each SPDR ETF's assets grow in size. The Board noted that the advisory fee rate for each SPDR ETF does not provide for breakpoints as assets of the SPDR ETF increase. However, the Board further noted the Adviser's assertion that future economies of scale (among several factors) had been taken into consideration for the SPDR ETFs by fixing relatively low advisory fees, effectively sharing the benefits of lower fees with the SPDR ETFs from inception. The Adviser also asserted that one of the benefits of the unitary fee was to provide an unvarying expense structure, which could be lost or diluted with the addition of breakpoints. The Board noted that it intends to continue to monitor fees as the SPDR ETFs grow in size and assess whether fee breakpoints may be warranted.

Conclusion

After weighing the foregoing factors, none of which was dispositive in itself and may have been weighed differently by each Trustee, the Board, including the Independent Trustees voting separately, approved the continuation of the Agreement for each SPDR ETF. In approving the continuance of the Agreement, the Board, including the Independent Trustees voting separately, found that the terms of the Agreement are fair and reasonable and that the continuance of the Agreement is in the best interests of the applicable SPDR ETF and its shareholders. The Board's conclusions with respect to the factors were as follows: (a) the nature, extent and quality of the services provided by the Adviser with respect to the SPDR ETFs were appropriate; (b) the performance and, more importantly for those SPDR ETFs measured against an index, the index tracking, of each SPDR ETF had been satisfactory or the Adviser had demonstrated due attention to the remediation of underperformance, where appropriate; (c) the Adviser's unitary fee for each SPDR ETF considered in relation to the services provided, and in relation to the fees charged to comparable funds, was reasonable; (d) the profitability of the Trust's relationships with the Adviser and its affiliates was not excessive in view of the nature, extent and quality of the services provided; (e) any additional potential benefits to the Adviser or its affiliates were not of a magnitude to materially affect the Board's conclusions; and (f) the fees paid to the Adviser adequately shared the economies of scale with respect to the SPDR ETFs by way of the relatively low fee structure of the Trust. The Independent Trustees were advised by their independent counsel throughout the process.

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OTHER INFORMATION (continued)

September 30, 2023 (Unaudited)

TRUSTEES AND OFFICERS INFORMATION

Name, Address and Year of Birth	Position(s) with Funds	Term of Office and Length of Time Served	Principal Occupation(s) During Past 5 Years	Number of Portfolios in Fund Complex Overseen by Trustee†	Other Directorships Held by Trustee During the Past 5 Years
Trustees
Independent Trustees
CARL G. VERBONCOEUR c/o SPDR Index Shares Funds One Iron Street Boston, MA 02210 1952	Independent Trustee, Chairman, Trustee Committee Chair	Term: Unlimited Served: since April 2010	Self-employed consultant since 2009.	122	None
DWIGHT D. CHURCHILL c/o SPDR Index Shares Funds One Iron Street Boston, MA 02210 1953	Independent Trustee, Audit Committee Chair	Term: Unlimited Served: since April 2010	Self-employed consultant since 2010; CEO and President, CFA Institute (June 2014 - January 2015).	122	Affiliated Managers Group, Inc. (Director) (2010 - present).
CLARE S. RICHER c/o SPDR Index Shares Funds One Iron Street Boston, MA 02210 1958	Independent Trustee	Term: Unlimited Served: since July 2018	Retired, Chief Financial Officer, Putnam Investments LLC (December 2008 - May 2017).	122	Principal Financial Group (Director and Financial Committee Chair) (2020 - present); Bain Capital Specialty Finance (Director) (2019 - present); Bain Capital Private Credit (Director) (2022 - present); University of Notre Dame (Trustee) (2015 - present).
SANDRA G. SPONEM c/o SPDR Index Shares Funds One Iron Street Boston, MA 02210 1958	Independent Trustee	Term: Unlimited Served: since July 2018	Retired, Chief Financial Officer, M.A. Mortenson Companies, Inc. (construction and real estate company) (February 2007 - April 2017).	122	Rydex Series Funds (52 portfolios), Rydex Dynamic Funds (8 portfolios) and Rydex Variable Trust (49 portfolios) (Trustee) (2016 - present): Guggenheim Strategy Funds Trust (3 portfolios), Guggenheim Funds Trust (18 portfolios), Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust, Guggenheim Strategic Opportunities Fund, Guggenheim Variable Funds Trust (14 portfolios), and Transparent Value Trust (5 portfolios) (Trustee) (2019 - present); Guggenheim Active Allocation Fund (Trustee) (2021 - present); Fiduciary/Claymore Energy Infrastructure Fund (Trustee) (2019 - 2022); Guggenheim Enhanced Equity Income Fund and Guggenheim Credit AllocationFund (Trustee) (2019 - 2021); and Guggenheim Energy & Income Fund (Trustee) (2015 - 2023).
CAROLYN M. CLANCY c/o SPDR Index Shares Funds One Iron Street Boston, MA 02210 1960	Independent Trustee	Term Unlimited Served: since October 2022	Retired. Executive Vice President, Head of Strategy, Analytics and Market Readiness, Fidelity Investments (April 2020 - June 2021); Executive Vice President, Head of Broker Dealer Business, Fidelity Investments (July 2017 - March 2020).	122	Assumption University (Trustee) (2011 - 2021) and (2022 - present); Big Sister Association of Greater Boston (Director) (2016 - 2023).
KRISTI L. ROWSELL c/o SPDR Index Shares Funds One Iron Street Boston, MA 02210 1966	Independent Trustee	Term Unlimited Served: since October 2022	Partner and President, Harris Associates (2010 - 2021).	122	Harris Associates Investment Trust (8 portfolios) (Trustee) (2010 - present); Board of Governors, Investment Company Institute (Member) (2018 - present): Habitat for Humanity Chicago (Director) (2015 - present).

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OTHER INFORMATION (continued)

September 30, 2023 (Unaudited)

Name, Address and Year of Birth	Position(s) with Funds	Term of Office and Length of Time Served	Principal Occupation(s) During Past 5 Years	Number of Portfolios in Fund Complex Overseen by Trustee†	Other Directorships Held by Trustee During the Past 5 Years
Interested Trustee
JAMES E. ROSS* c/o SPDR Index Shares Funds One Iron Street Boston, MA 02210 1965	Interested Trustee	Term: Unlimited Served since April 2010	President, Winnisquam Capital LLC (December 2022 - present); Non-Executive Chairman, Fusion Acquisition Corp II (February 2020 - present); Non-Executive Chairman, Fusion Acquisition Corp. (June 2020 - September 2021); Retired Chairman and Director, SSGA Funds Management, Inc. (2005 - March 2020); Retired Executive Vice President, State Street Global Advisors (2012 - March 2020); Retired Chief Executive Officer and Manager, State Street Global Advisors Funds Distributors, LLC (May 2017 - March 2020); Director, State Street Global Markets, LLC (2013 - April 2017); President, SSGA Funds Management, Inc. (2005 - 2012); Principal, State Street Global Advisors (2000 - 2005).	133	Investment Managers Series Trust (50 portfolios) (2022 - present); The Select Sector SPDR Trust, (11 portfolios) (2005 - present); SSGA SPDR ETFs Europe I PLC (Director) (2016 - 2020); SSGA SPDR ETFs Europe II PLC (Director) (2016 - 2020); State Street Navigator Securities Lending Trust (Trustee) (2016 - 2020); SSGA Funds (Trustee) (2014 - 2020); State Street Institutional Investment Trust (Trustee) (2007 - 2020); State Street Master Funds (Trustee) (2007 - 2020); Elfun Funds (Trustee) (2016 - 2018).
GUNJAN CHAUHAN** c/o SPDR Index Shares Funds One Iron Street Boston, MA 02210 1982	Interested Trustee	Term Unlimited Served: since October 2022	Senior Managing Director, State Street Global Advisors (April 2018 - present); Managing Director, State Street Global Advisors (June 2015 - March 2018).	122	State Street ICAV (Director) (2018 - 2022).
† For the purpose of determining the number of portfolios overseen by the Trustees, “Fund Complex” comprises registered investment companies for which SSGA Funds Management, Inc. serves as investment adviser, which includes series of SPDR Series Trust, SSGA Active Trust and SPDR Index Shares Funds.
* Mr. Ross is an Interested Trustee because of his former position with the Adviser and ownership interest in an affiliate of the Adviser. Mr. Ross previously served as an Interested Trustee from November 2005 to December 2009.
** Ms. Chauhan is an Interested Trustee because of her position with an affiliate of the Adviser.

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OTHER INFORMATION (continued)

September 30, 2023 (Unaudited)

Name, Address and Year of Birth	Position(s) with Funds	Term of Office and Length of Time Served	Principal Occupation(s) During the Past 5 Years
Officers
ANN M. CARPENTER SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1966	President and Principal Executive Officer; Deputy Treasurer	Term: Unlimited Served: since May 2023 (with respect to President and Principal Executive Officer); Term: Unlimited Served: since February 2016 (with respect to Deputy Treasurer)	Chief Operating Officer, SSGA Funds Management, Inc. (April 2005 - present); Managing Director, State Street Global Advisors (April 2005 - present).
BRUCE S. ROSENBERG SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1961	Treasurer and Principal Financial Officer	Term: Unlimited Served: since February 2016	Managing Director, State Street Global Advisors and SSGA Funds Management, Inc. (July 2015 - present); Director, Credit Suisse (April 2008 - July 2015).
CHAD C. HALLETT SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1969	Deputy Treasurer	Term: Unlimited Served: since February 2016	Vice President, State Street Global Advisors and SSGA Funds Management, Inc. (November 2014 - present).
DARLENE ANDERSON-VASQUEZ SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1968	Deputy Treasurer	Term: Unlimited Served: since November 2016	Managing Director, State Street Global Advisors and SSGA Funds Management, Inc. (May 2016 - present); Senior Vice President, John Hancock Investments (September 2007 - May 2016).
ARTHUR A. JENSEN SSGA Funds Management, Inc. 1600 Summer Street Stamford, CT 06905 1966	Deputy Treasurer	Term: Unlimited Served: since August 2017	Vice President, State Street Global Advisors and SSGA Funds Management, Inc. (July 2016 - present); Mutual Funds Controller of GE Asset Management Incorporated (April 2011 - July 2016).
DAVID LANCASTER SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1971	Assistant Treasurer	Term: Unlimited Served: since November 2020	Vice President, State Street Global Advisors and SSGA Funds Management, Inc. (July 2017 - present); Assistant Vice President, State Street Bank and Trust Company (November 2011 - July 2017).
RYAN HILL SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1982	Assistant Treasurer	Term: Unlimited Served: since May 2022	Vice President, State Street Global Advisors and SSGA Funds Management Inc. (May 2017 - present); Assistant Vice President, State Street Bank and Trust Co. (May 2014 - May 2017).
JOHN BETTENCOURT SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1976	Assistant Treasurer	Term: Unlimited Served: since May 2022	Vice President, State Street Global Advisors and SSGA Funds Management Inc. (March 2020 - present); Assistant Vice President, State Street Global Advisors (June 2007 - March 2020).

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OTHER INFORMATION (continued)

September 30, 2023 (Unaudited)

Name, Address and Year of Birth	Position(s) with Funds	Term of Office and Length of Time Served	Principal Occupation(s) During the Past 5 Years
Officers
BRIAN HARRIS SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1973	Chief Compliance Officer; Anti- Money Laundering Officer; Code of Ethics Compliance Officer	Term: Unlimited Served: since November 2013	Managing Director, State Street Global Advisors and SSGA Funds Management, Inc. (June 2013 - present)*.
SEAN O’MALLEY SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1969	Chief Legal Officer	Term: Unlimited Served: since August 2019	Senior Vice President and Deputy General Counsel, State Street Global Advisors (November 2013 - present).
DAVID URMAN SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1985	Secretary	Term: Unlimited Served: since August 2019	Vice President and Senior Counsel, State Street Global Advisors (April 2019 - present); Vice President and Counsel, State Street Global Advisors (August 2015 - April 2019); Associate, Ropes & Gray LLP (November 2012 - August 2015).
DAVID BARR SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1974	Assistant Secretary	Term: Unlimited Served: since November 2020	Vice President and Senior Counsel, State Street Global Advisors (October 2019 - present); Vice President and Counsel, Eaton Vance Corp (October 2010 - October 2019).
E. GERARD MAIORANA, JR. SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1971	Assistant Secretary	Term: Unlimited Served: since May 2023	Assistant Vice President, State Street Global Advisors (July 2014 - present).
* Served in various capacities and/or with various affiliated entities during noted time period.
The Trust's Statement of Additional Information (SAI) includes additional information about the Funds' directors and is available, without charge, upon request and by calling 1-866-787-2257.

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SPDR^® Index Shares

For more complete information, please call 1.866.787.2257 or visit https://www.ssga.com/spdrs today.

The Funds are not sponsored, endorsed, sold, or promoted by Stoxx, S&P Dow Jones Indices LLC or MSCI Inc. Neither do these companies make any representation regarding the advisability of investing in the Funds. Shares of the Funds are not insured by the FDIC or by another governmental agency; they are not obligations of the FDIC nor are they deposits or obligations of or guaranteed by State Street Bank and Trust Company. Fund shares are subject to investment risks, including possible loss of the principal invested.

Standard & Poor’s^®, S&P^® and SPDR^® are registered trademarks of Standard & Poor’s Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and

none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index.

Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly-owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs.

Before investing, consider a Fund's investment objective, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 or visit https://www.ssga.com/spdrs. Read it carefully.

Not FDIC Insured • No Bank Guarantee • May Lose Value

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.

State Street Global Advisors

SPDRISIAR

Notes to Performance Summaries (Unaudited)	1
Management’s Discussion of Fund Performance, Performance Summaries & Portfolio Statistics (Unaudited)
SPDR EURO STOXX 50 ETF (FEZ)	2
SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC)	5
SPDR MSCI ACWI ex-US ETF (CWI)	8
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF (EFAX)	11
SPDR MSCI EAFE StrategicFactors ETF (QEFA)	14
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF (EEMX)	17
SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM)	20
SPDR MSCI World StrategicFactors ETF (QWLD)	23
SPDR S&P Emerging Asia Pacific ETF (GMF)	26
SPDR S&P Emerging Markets Dividend ETF (EDIV)	29
SPDR S&P Emerging Markets Small Cap ETF (EWX)	32
SPDR S&P Global Dividend ETF (WDIV)	35
SPDR S&P Global Infrastructure ETF (GII)	38
SPDR S&P International Dividend ETF (DWX)	41
Schedules of Investments
SPDR EURO STOXX 50 ETF (FEZ)	44
SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC)	46
SPDR MSCI ACWI ex-US ETF (CWI)	59
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF (EFAX)	79
SPDR MSCI EAFE StrategicFactors ETF (QEFA)	89
SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF (EEMX)	98
SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM)	109
SPDR MSCI World StrategicFactors ETF (QWLD)	124
SPDR S&P Emerging Asia Pacific ETF (GMF)	138
SPDR S&P Emerging Markets Dividend ETF (EDIV)	159
SPDR S&P Emerging Markets Small Cap ETF (EWX)	163
SPDR S&P Global Dividend ETF (WDIV)	214
SPDR S&P Global Infrastructure ETF (GII)	217
SPDR S&P International Dividend ETF (DWX)	220
Financial Statements	223
Financial Highlights	237
Notes to Financial Statements	251
Report of Independent Registered Public Accounting Firm	264
Other Information (Unaudited)	265


	Description	% of Net Assets
	Aena SME SA	5.1%
	Transurban Group Stapled Security	5.0
	Enbridge, Inc.	4.6
	NextEra Energy, Inc.	4.5
	Grupo Aeroportuario del Pacifico SAB de CV ADR	3.2
	Southern Co.	3.2
	Auckland International Airport Ltd.	3.1
	Duke Energy Corp.	3.1
	Iberdrola SA	2.9
	Williams Cos., Inc.	2.7
	TOTAL	37.4%


		% of Net Assets
	Information Technology	23.3
	Financials	19.8
	Consumer Staples	11.0
	Consumer Discretionary	10.6
	Materials	8.5
	Communication Services	6.7
	Energy	5.8
	Industrials	5.6
	Health Care	4.6
	Utilities	2.6
	Real Estate	1.3
	Short-Term Investments	1.8
	Liabilities in Excess of Other Assets	(1.6)
	TOTAL	100.0


		% of Net Assets
	Industrials	40.4
	Utilities	38.7
	Energy	20.4
	Short-Term Investments	2.2
	Liabilities in Excess of Other Assets	(1.7)
	TOTAL	100.0

	Amount
SPDR MSCI Emerging Markets StrategicFactors ETF	$ 2,222,986
SPDR S&P Emerging Asia Pacific ETF	10,518,095
SPDR S&P Emerging Markets Dividend ETF	14,069,179
SPDR S&P Emerging Markets Small Cap ETF	23,325,633
SPDR S&P Global Dividend ETF	11,182,276
SPDR S&P Global Infrastructure ETF	13,809,961
SPDR S&P International Dividend ETF	26,103,404