Quarterly Report
June 30, 2022
State Street Institutional Funds
State Street Institutional U.S. Equity Fund
Schedule of Investments
June 30, 2022 (Unaudited)
Number of Shares | Fair Value | ||
Common Stock - 95.4% † | |||
Aerospace & Defense - 0.7% | |||
Raytheon Technologies Corp. | 13,983 | $1,343,906 | |
Apparel Retail - 0.8% | |||
Ross Stores Inc. | 22,093 | 1,551,591 | |
Application Software - 2.9% | |||
Adobe Inc. (a) | 2,471 | 904,534 | |
Intuit Inc. | 890 | 343,042 | |
salesforce.com Inc. (a) | 19,523 | 3,222,076 | |
Splunk Inc. (a) | 10,783 | 953,864 | |
5,423,516 | |||
Asset Management & Custody Banks - 0.1% | |||
Blackstone Inc. | 2,495 | 227,619 | |
Auto Parts & Equipment - 0.5% | |||
Magna International Inc. | 18,502 | 1,015,760 | |
Automobile Manufacturers - 0.9% | |||
Ford Motor Co. | 74,736 | 831,811 | |
Tesla Inc. (a) | 1,216 | 818,879 | |
1,650,690 | |||
Automotive Retail - 0.8% | |||
O'Reilly Automotive Inc. (a) | 2,285 | 1,443,572 | |
Biotechnology - 1.7% | |||
BioMarin Pharmaceutical Inc. (a) | 9,932 | 823,065 | |
Vertex Pharmaceuticals Inc. (a) | 8,080 | 2,276,863 | |
3,099,928 | |||
Building Products - 0.7% | |||
Allegion PLC | 4,580 | 448,382 | |
Trane Technologies PLC | 7,228 | 938,700 | |
1,387,082 | |||
Cable & Satellite - 1.4% | |||
Charter Communications Inc., Class A (a) | 1,082 | 506,950 | |
Comcast Corp., Class A | 52,926 | 2,076,816 | |
2,583,766 | |||
Communications Equipment - 0.1% | |||
Cisco Systems Inc. | 6,023 | 256,821 | |
Construction Materials - 0.3% | |||
Martin Marietta Materials Inc. | 1,615 | 483,273 | |
Data Processing & Outsourced Services - 5.7% | |||
Fidelity National Information Services Inc. | 24,738 | 2,267,732 | |
Mastercard Inc., Class A | 11,443 | 3,610,038 | |
PayPal Holdings Inc. (a) | 2,040 | 142,474 | |
Visa Inc., Class A | 23,229 | 4,573,558 | |
10,593,802 | |||
Diversified Banks - 1.5% | |||
JPMorgan Chase & Co. | 24,775 | 2,789,913 | |
Diversified Support Services - 0.4% | |||
Cintas Corp. | 2,074 | 774,701 | |
Electric Utilities - 2.1% | |||
NextEra Energy Inc. | 51,774 | 4,010,414 |
Number of Shares | Fair Value | ||
Electrical Components & Equipment - 0.1% | |||
Generac Holdings Inc. (a) | 1,114 | $234,586 | |
Electronic Components - 1.2% | |||
Amphenol Corp., Class A | 26,597 | 1,712,315 | |
Corning Inc. | 19,799 | 623,866 | |
2,336,181 | |||
Environmental & Facilities Services - 0.5% | |||
Waste Management Inc. | 6,639 | 1,015,634 | |
Financial Exchanges & Data - 2.1% | |||
CME Group Inc. | 5,683 | 1,163,310 | |
S&P Global Inc. | 8,279 | 2,790,520 | |
3,953,830 | |||
Footwear - 0.1% | |||
NIKE Inc., Class B | 1,629 | 166,484 | |
Healthcare Equipment - 3.4% | |||
Becton Dickinson & Co. | 2,624 | 646,895 | |
Boston Scientific Corp. (a) | 61,040 | 2,274,961 | |
Edwards Lifesciences Corp. (a) | 5,260 | 500,173 | |
IDEXX Laboratories Inc. (a) | 1,282 | 449,636 | |
Medtronic PLC | 15,088 | 1,354,148 | |
Teleflex Inc. | 1,699 | 417,699 | |
Zimmer Biomet Holdings Inc. | 7,414 | 778,915 | |
6,422,427 | |||
Healthcare Services - 0.4% | |||
Cigna Corp. | 2,924 | 770,532 | |
Home Improvement Retail - 1.6% | |||
Lowe's Companies Inc. | 13,394 | 2,339,530 | |
The Home Depot Inc. | 2,058 | 564,448 | |
2,903,978 | |||
Hotels, Resorts & Cruise Lines - 0.4% | |||
Marriott International Inc., Class A | 4,935 | 671,209 | |
Household Products - 1.4% | |||
Colgate-Palmolive Co. | 9,373 | 751,152 | |
The Procter & Gamble Co. | 12,890 | 1,853,453 | |
2,604,605 | |||
Hypermarkets & Super Centers - 1.0% | |||
Costco Wholesale Corp. | 1,283 | 614,916 | |
Walmart Inc. | 9,644 | 1,172,518 | |
1,787,434 | |||
Industrial Conglomerates - 1.4% | |||
Honeywell International Inc. | 15,007 | 2,608,367 | |
Industrial Gases - 1.5% | |||
Air Products & Chemicals Inc. | 11,324 | 2,723,196 | |
Industrial Machinery - 1.2% | |||
Parker-Hannifin Corp. | 8,616 | 2,119,967 | |
Xylem Inc. | 2,424 | 189,508 | |
2,309,475 | |||
Insurance Brokers - 0.3% | |||
Marsh & McLennan Companies Inc. | 3,610 | 560,452 |
See Notes to Schedule of Investments.
State Street Institutional U.S. Equity Fund | 1 |
State Street Institutional U.S. Equity Fund
Schedule of Investments
June 30, 2022 (Unaudited)
Number of Shares | Fair Value | ||
Integrated Oil & Gas - 0.8% | |||
Chevron Corp. | 10,614 | $1,536,695 | |
Interactive Home Entertainment - 0.3% | |||
Activision Blizzard Inc. | 6,493 | 505,545 | |
Interactive Media & Services - 6.3% | |||
Alphabet Inc., Class C (a) | 1,095 | 2,395,258 | |
Alphabet Inc., Class A (a) | 3,029 | 6,600,978 | |
Meta Platforms Inc., Class A (a) | 17,075 | 2,753,344 | |
11,749,580 | |||
Internet & Direct Marketing Retail - 3.8% | |||
Amazon.com Inc. (a)(b) | 66,840 | 7,099,076 | |
Investment Banking & Brokerage - 1.2% | |||
The Charles Schwab Corp. | 35,984 | 2,273,469 | |
IT Consulting & Other Services - 0.4% | |||
Accenture PLC, Class A | 2,420 | 671,913 | |
Life & Health Insurance - 0.1% | |||
Lincoln National Corp. | 4,703 | 219,959 | |
Life Sciences Tools & Services - 1.3% | |||
IQVIA Holdings Inc. (a) | 10,880 | 2,360,851 | |
Managed Healthcare - 2.7% | |||
Humana Inc. | 1,856 | 868,738 | |
UnitedHealth Group Inc. | 8,227 | 4,225,634 | |
5,094,372 | |||
Movies & Entertainment - 0.9% | |||
The Walt Disney Co. (a) | 16,879 | 1,593,378 | |
Multi-Line Insurance - 0.3% | |||
American International Group Inc. | 10,992 | 562,021 | |
Multi-Sector Holdings - 1.2% | |||
Berkshire Hathaway Inc., Class B (a) | 8,542 | 2,332,137 | |
Multi-Utilities - 0.8% | |||
Sempra Energy | 10,029 | 1,507,058 | |
Oil & Gas Equipment & Services - 0.6% | |||
Schlumberger N.V. | 32,798 | 1,172,856 | |
Oil & Gas Exploration & Production - 2.4% | |||
ConocoPhillips | 36,129 | 3,244,746 | |
Pioneer Natural Resources Co. | 5,903 | 1,316,841 | |
4,561,587 | |||
Packaged Foods & Meats - 0.7% | |||
Mondelez International Inc., Class A | 21,158 | 1,313,700 | |
Personal Products - 0.4% | |||
The Estee Lauder Companies Inc., Class A | 2,996 | 762,991 | |
Pharmaceuticals - 5.7% | |||
AstraZeneca PLC ADR | 11,304 | 746,855 | |
Bristol-Myers Squibb Co. | 16,283 | 1,253,791 | |
Elanco Animal Health Inc. (a) | 20,418 | 400,805 | |
Johnson & Johnson | 27,134 | 4,816,557 |
Number of Shares | Fair Value | ||
Merck & Company Inc. | 37,623 | $3,430,089 | |
10,648,097 | |||
Property & Casualty Insurance - 1.2% | |||
Chubb Ltd. | 11,562 | 2,272,858 | |
Railroads - 0.7% | |||
Union Pacific Corp. | 5,938 | 1,266,457 | |
Regional Banks - 2.5% | |||
First Republic Bank | 18,329 | 2,643,042 | |
Regions Financial Corp. | 34,636 | 649,425 | |
SVB Financial Group (a) | 3,292 | 1,300,307 | |
4,592,774 | |||
Restaurants - 0.7% | |||
McDonald's Corp. | 5,325 | 1,314,636 | |
Semiconductor Equipment - 1.3% | |||
Applied Materials Inc. | 25,742 | 2,342,007 | |
Semiconductors - 4.6% | |||
Advanced Micro Devices Inc. (a) | 34,602 | 2,646,015 | |
NVIDIA Corp. | 10,698 | 1,621,710 | |
QUALCOMM Inc. | 25,915 | 3,310,382 | |
Texas Instruments Inc. | 7,285 | 1,119,340 | |
8,697,447 | |||
Soft Drinks - 1.2% | |||
Monster Beverage Corp. (a) | 6,567 | 608,761 | |
PepsiCo Inc. | 9,811 | 1,635,101 | |
2,243,862 | |||
Specialized REITs - 1.6% | |||
American Tower Corp. | 11,689 | 2,987,592 | |
Specialty Chemicals - 0.7% | |||
DuPont de Nemours Inc. | 8,191 | 455,256 | |
Ecolab Inc. | 2,513 | 386,399 | |
PPG Industries Inc. | 4,372 | 499,894 | |
1,341,549 | |||
Systems Software - 7.3% | |||
Microsoft Corp. | 44,635 | 11,463,607 | |
Oracle Corp. | 9,885 | 690,665 | |
ServiceNow Inc. (a) | 3,021 | 1,436,546 | |
13,590,818 | |||
Technology Hardware, Storage & Peripherals - 5.2% | |||
Apple Inc. (b) | 71,109 | 9,722,022 | |
Trading Companies & Distributors - 1.0% | |||
United Rentals Inc. (a) | 7,899 | 1,918,746 | |
Trucking - 0.0% * | |||
Lyft Inc., Class A (a) | 5,824 | 77,343 | |
Wireless Telecommunication Services - 0.3% | |||
T-Mobile US Inc. (a) | 4,248 | 571,526 | |
Total Common Stock (Cost $139,398,999) | 178,609,666 |
See Notes to Schedule of Investments.
2 | State Street Institutional U.S. Equity Fund |
State Street Institutional U.S. Equity Fund
Schedule of Investments
June 30, 2022 (Unaudited)
Number of Shares | Fair Value | ||
Short-Term Investments - 4.1% | |||
State Street Institutional U.S. Government Money Market Fund - Class G Shares 1.47% (c)(d) (Cost $7,636,310) | 7,636,310 | $7,636,310 | |
Total Investments (Cost $147,035,309) | 186,245,976 | ||
Other Assets and Liabilities, net - 0.5% | 872,317 | ||
NET ASSETS - 100.0% | $187,118,293 |
Other Information:
The Fund had the following long futures contracts open at June 30, 2022: |
Description | Expiration Date | Number of Contracts | Notional Amount | Value | Unrealized Appreciation (Depreciation) | |||||
S&P 500 E-Mini Index Futures | September 2022 | 34 | $6,369,237 | $6,442,150 | $72,913 |
The views expressed in this document reflect our judgment as of the publication date and are subject to change at any time without notice. The securities cited may not be representative of the Fund’s future investments and should not be construed as a recommendation to purchase or sell a particular security. See the Fund’s summary prospectus and statutory prospectus for complete descriptions of investment objectives, policies, risks and permissible investments.
(a) | Non-income producing security. |
(b) | At June 30, 2022, all or a portion of this security was pledged to cover collateral requirements for futures. |
(c) | Sponsored by SSGA Funds Management, Inc., the Fund’s investment adviser and administrator, and an affiliate of State Street Bank & Trust Co., the Fund’s sub-administrator, custodian and accounting agent. |
(d) | Coupon amount represents effective yield. |
† | Percentages are based on net assets as of June 30, 2022. |
* | Less than 0.05%. |
Abbreviations: |
ADR - American Depositary Receipt |
REIT - Real Estate Investment Trust |
The following table presents the Fund’s investments measured at fair value on a recurring basis at June 30, 2022:
Investments | Level 1 | Level 2 | Level 3 | Total | ||||
Investments in Securities | ||||||||
Common Stock | $178,609,666 | $— | $— | $178,609,666 | ||||
Short-Term Investments | 7,636,310 | — | — | 7,636,310 | ||||
Total Investments in Securities | $186,245,976 | $— | $— | $186,245,976 | ||||
Other Financial Instruments | ||||||||
Long Futures Contracts - Unrealized Appreciation | 72,913 | — | — | 72,913 | ||||
Total Other Financial Instruments | $72,913 | $— | $— | $72,913 |
Affiliate Table |
Number of Shares Held at 9/30/21 | Value at 9/30/21 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Number of Shares Held at 6/30/22 | Value at 6/30/22 | Dividend Income | |||||||||
State Street Institutional U.S. Government Money Market Fund - Class G Shares | 9,885,922 | $9,885,922 | $40,782,729 | $43,032,341 | $— | $— | 7,636,310 | $7,636,310 | $16,606 |
See Notes to Schedule of Investments.
State Street Institutional U.S. Equity Fund | 3 |
State Street Institutional Premier Growth Equity Fund
Schedule of Investments
June 30, 2022 (Unaudited)
Number of Shares | Fair Value | ||
Common Stock - 96.2% † | |||
Apparel Retail - 1.6% | |||
Ross Stores Inc. | 6,898 | $484,447 | |
Application Software - 5.2% | |||
Adobe Inc. (a) | 1,300 | 475,878 | |
salesforce.com Inc. (a) | 4,310 | 711,322 | |
Splunk Inc. (a) | 4,934 | 436,462 | |
1,623,662 | |||
Automobile Manufacturers - 0.9% | |||
Tesla Inc. (a) | 438 | 294,958 | |
Biotechnology - 2.8% | |||
BioMarin Pharmaceutical Inc. (a) | 5,095 | 422,223 | |
Vertex Pharmaceuticals Inc. (a) | 1,631 | 459,599 | |
881,822 | |||
Cable & Satellite - 1.4% | |||
Charter Communications Inc., Class A (a) | 899 | 421,209 | |
Data Processing & Outsourced Services - 10.5% | |||
Fidelity National Information Services Inc. | 4,657 | 426,907 | |
Mastercard Inc., Class A | 3,088 | 974,202 | |
PayPal Holdings Inc. (a) | 5,967 | 416,736 | |
Visa Inc., Class A | 7,336 | 1,444,385 | |
3,262,230 | |||
Financial Exchanges & Data - 1.5% | |||
S&P Global Inc. | 1,374 | 463,120 | |
Healthcare Equipment - 1.7% | |||
Boston Scientific Corp. (a) | 13,917 | 518,687 | |
Home Improvement Retail - 1.8% | |||
Lowe's Companies Inc. | 3,270 | 571,171 | |
Industrial Conglomerates - 1.2% | |||
Honeywell International Inc. | 2,100 | 365,001 | |
Industrial Machinery - 1.9% | |||
Parker-Hannifin Corp. | 2,342 | 576,249 | |
Interactive Media & Services - 10.8% | |||
Alphabet Inc., Class C (a) | 885 | 1,935,893 | |
Alphabet Inc., Class A (a) | 322 | 701,722 | |
Meta Platforms Inc., Class A (a) | 4,472 | 721,110 | |
3,358,725 | |||
Internet & Direct Marketing Retail - 7.6% | |||
Amazon.com Inc. (a) | 19,853 | 2,108,587 | |
Chewy Inc., Class A (a) | 6,956 | 241,513 | |
2,350,100 |
Number of Shares | Fair Value | ||
Investment Banking & Brokerage - 1.4% | |||
The Charles Schwab Corp. | 7,069 | $446,619 | |
Life Sciences Tools & Services - 2.0% | |||
IQVIA Holdings Inc. (a) | 2,861 | 620,808 | |
Managed Healthcare - 3.0% | |||
UnitedHealth Group Inc. | 1,804 | 926,589 | |
Pharmaceuticals - 1.2% | |||
Elanco Animal Health Inc. (a) | 18,572 | 364,568 | |
Regional Banks - 1.3% | |||
First Republic Bank | 2,908 | 419,334 | |
Semiconductor Equipment - 1.8% | |||
Applied Materials Inc. (b) | 5,981 | 544,151 | |
Semiconductors - 6.8% | |||
Advanced Micro Devices Inc. (a) | 8,299 | 634,625 | |
NVIDIA Corp. | 3,189 | 483,420 | |
QUALCOMM Inc. | 7,804 | 996,883 | |
2,114,928 | |||
Soft Drinks - 1.8% | |||
Monster Beverage Corp. (a) | 5,960 | 552,492 | |
Specialized REITs - 2.1% | |||
American Tower Corp. | 2,527 | 645,876 | |
Systems Software - 14.0% | |||
Microsoft Corp. | 14,334 | 3,681,401 | |
ServiceNow Inc. (a) | 1,405 | 668,106 | |
4,349,507 | |||
Technology Hardware, Storage & Peripherals - 10.0% | |||
Apple Inc. | 22,817 | 3,119,540 | |
Trading Companies & Distributors - 1.5% | |||
United Rentals Inc. (a) | 1,877 | 455,942 | |
Trucking - 0.4% | |||
Lyft Inc., Class A (a) | 10,258 | 136,226 | |
Total Common Stock (Cost $25,934,821) | 29,867,961 | ||
Short-Term Investments - 3.6% | |||
State Street Institutional U.S. Government Money Market Fund - Class G Shares 1.47% (b)(c)(d) (Cost $1,119,381) | 1,119,381 | 1,119,381 | |
Total Investments (Cost $27,054,202) | 30,987,342 | ||
Other Assets and Liabilities, net - 0.2% | 56,705 | ||
NET ASSETS - 100.0% | $31,044,047 |
Other Information:
The Fund had the following long futures contracts open at June 30, 2022: |
Description | Expiration Date | Number of Contracts | Notional Amount | Value | Unrealized Appreciation (Depreciation) | |||||
S&P 500 E-Mini Index Futures | September 2022 | 4 | $757,094 | $757,900 | $806 |
See Notes to Schedule of Investments.
4 | State Street Institutional Premier Growth Equity Fund |
State Street Institutional Premier Growth Equity Fund
Schedule of Investments
June 30, 2022 (Unaudited)
The views expressed in this document reflect our judgment as of the publication date and are subject to change at any time without notice. The securities cited may not be representative of the Fund’s future investments and should not be construed as a recommendation to purchase or sell a particular security. See the Fund’s summary prospectus and statutory prospectus for complete descriptions of investment objectives, policies, risks and permissible investments.
(a) | Non-income producing security. |
(b) | At June 30, 2022, all or a portion of this security was pledged to cover collateral requirements for futures. |
(c) | Sponsored by SSGA Funds Management, Inc., the Fund’s investment adviser and administrator, and an affiliate of State Street Bank & Trust Co., the Fund’s sub-administrator, custodian and accounting agent. |
(d) | Coupon amount represents effective yield. |
† | Percentages are based on net assets as of June 30, 2022. |
Abbreviations: |
REIT - Real Estate Investment Trust |
The following table presents the Fund’s investments measured at fair value on a recurring basis at June 30, 2022:
Investments | Level 1 | Level 2 | Level 3 | Total | ||||
Investments in Securities | ||||||||
Common Stock | $29,867,961 | $— | $— | $29,867,961 | ||||
Short-Term Investments | 1,119,381 | — | — | 1,119,381 | ||||
Total Investments in Securities | $30,987,342 | $— | $— | $30,987,342 | ||||
Other Financial Instruments | ||||||||
Long Futures Contracts - Unrealized Appreciation | 806 | — | — | 806 | ||||
Total Other Financial Instruments | $806 | $— | $— | $806 |
Affiliate Table |
Number of Shares Held at 9/30/21 | Value at 9/30/21 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Number of Shares Held at 6/30/22 | Value at 6/30/22 | Dividend Income | |||||||||
State Street Institutional U.S. Government Money Market Fund - Class G Shares | 1,877,600 | $1,877,600 | $12,146,666 | $12,904,885 | $— | $— | 1,119,381 | $1,119,381 | $1,974 | ||||||||
The Consumer Discretionary Select Sector SPDR Fund | 12,585 | 2,258,378 | — | 2,253,767 | 250,871 | (255,482) | — | — | — | ||||||||
The Technology Select Sector SPDR Fund | 5,819 | 868,893 | — | 858,319 | 110,117 | (120,691) | — | — | — | ||||||||
TOTAL | $5,004,871 | $12,146,666 | $16,016,971 | $360,988 | $(376,173) | $1,119,381 | $1,974 |
See Notes to Schedule of Investments.
State Street Institutional Premier Growth Equity Fund | 5 |
State Street Institutional Small-Cap Equity Fund
Schedule of Investments
June 30, 2022 (Unaudited)
Number of Shares | Fair Value | ||
Common Stock - 94.1% † | |||
Aerospace & Defense - 0.2% | |||
Woodward Inc. | 24,159 | $2,234,466 | |
Agricultural & Farm Machinery - 0.8% | |||
AGCO Corp. (a) | 84,219 | 8,312,415 | |
Agricultural Products - 1.3% | |||
Darling Ingredients Inc. (b) | 212,181 | 12,688,424 | |
Airlines - 0.0% * | |||
Allegiant Travel Co. (a)(b) | 3,230 | 365,281 | |
Aluminum - 0.0% * | |||
Alcoa Corp. (a) | 9,843 | 448,644 | |
Apparel Retail - 0.4% | |||
American Eagle Outfitters Inc. | 157,505 | 1,760,906 | |
The Buckle Inc. | 83,721 | 2,318,234 | |
4,079,140 | |||
Application Software - 5.6% | |||
ACI Worldwide Inc. (a)(b) | 147,497 | 3,818,697 | |
Alarm.com Holdings Inc. (b) | 26,538 | 1,641,641 | |
Altair Engineering Inc., Class A (a)(b) | 60,570 | 3,179,925 | |
Asana Inc., Class A (b) | 65,000 | 1,142,700 | |
Avalara Inc. (b) | 9,966 | 703,600 | |
Blackbaud Inc. (b) | 108,008 | 6,272,025 | |
Blackline Inc. (b) | 121,485 | 8,090,901 | |
Envestnet Inc. (b) | 41,500 | 2,189,955 | |
Five9 Inc. (b) | 8,085 | 736,867 | |
Freshworks Inc., Class A Revenue (b) | 254,000 | 3,340,100 | |
Model N Inc. (b) | 31,254 | 799,477 | |
New Relic Inc. (b) | 112,000 | 5,605,600 | |
Paycor HCM Inc. | 21,324 | 554,424 | |
Paylocity Holding Corp. (b) | 9,810 | 1,711,060 | |
Pegasystems Inc. | 18,243 | 872,745 | |
PROS Holdings Inc. (b) | 18,583 | 487,432 | |
Q2 Holdings Inc. (b) | 115,500 | 4,454,835 | |
SPS Commerce Inc. (b) | 20,197 | 2,283,271 | |
The Descartes Systems Group Inc. (b) | 17,086 | 1,060,357 | |
Vertex Inc., Class A (b) | 110,024 | 1,246,572 | |
Workiva Inc. (b) | 83,876 | 5,534,977 | |
55,727,161 | |||
Auto Parts & Equipment - 1.5% | |||
Dana Inc. | 127,012 | 1,787,059 | |
Dorman Products Inc. (b) | 98,829 | 10,842,530 | |
Gentex Corp. | 35,259 | 986,194 | |
LCI Industries | 12,187 | 1,363,481 | |
14,979,264 | |||
Automobile Manufacturers - 0.8% | |||
Thor Industries Inc. | 102,778 | 7,680,600 | |
Automotive Retail - 1.8% | |||
America's Car-Mart Inc. (b) | 15,565 | 1,565,839 | |
Group 1 Automotive Inc. | 27,647 | 4,694,461 | |
Monro Inc. | 39,703 | 1,702,465 | |
Murphy USA Inc. | 41,828 | 9,740,486 | |
17,703,251 | |||
Biotechnology - 0.9% | |||
Avid Bioservices Inc. (b) | 130,949 | 1,998,282 |
Number of Shares | Fair Value | ||
Emergent BioSolutions Inc. (b) | 67,910 | $2,107,926 | |
Halozyme Therapeutics Inc. (b) | 42,272 | 1,859,968 | |
Heron Therapeutics Inc. (b) | 393,793 | 1,098,683 | |
Veracyte Inc. (b) | 90,500 | 1,800,950 | |
8,865,809 | |||
Brewers - 0.5% | |||
The Boston Beer Company Inc., Class A (b) | 17,300 | 5,241,381 | |
Building Products - 1.1% | |||
CSW Industrials Inc. | 33,500 | 3,451,505 | |
Gibraltar Industries Inc. (b) | 75,548 | 2,927,485 | |
Hayward Holdings Inc. (b) | 95,500 | 1,374,245 | |
Insteel Industries Inc. | 31,061 | 1,045,824 | |
UFP Industries Inc. | 26,873 | 1,831,126 | |
10,630,185 | |||
Commodity Chemicals - 0.1% | |||
Hawkins Inc. | 35,707 | 1,286,523 | |
Communications Equipment - 0.2% | |||
Cambium Networks Corp. (b) | 50,249 | 736,148 | |
Extreme Networks Inc. (b) | 135,461 | 1,208,312 | |
Lumentum Holdings Inc. (b) | 5,035 | 399,880 | |
2,344,340 | |||
Computer & Electronics Retail - 0.1% | |||
Rent-A-Center Inc. | 48,602 | 945,309 | |
Construction & Engineering - 1.8% | |||
Dycom Industries Inc. (b) | 145,285 | 13,517,316 | |
IES Holdings Inc. (b) | 27,506 | 829,856 | |
Valmont Industries Inc. | 9,600 | 2,156,448 | |
WillScot Mobile Mini Holdings Corp. (b) | 53,863 | 1,746,239 | |
18,249,859 | |||
Construction Machinery & Heavy Trucks - 0.7% | |||
Alamo Group Inc. (a) | 18,901 | 2,200,644 | |
Astec Industries Inc. | 34,809 | 1,419,511 | |
The Greenbrier Companies Inc. | 49,261 | 1,772,903 | |
Wabash National Corp. | 142,085 | 1,929,514 | |
7,322,572 | |||
Construction Materials - 0.1% | |||
Eagle Materials Inc. | 9,811 | 1,078,621 | |
Consumer Finance - 0.2% | |||
PRA Group Inc. (b) | 25,576 | 929,943 | |
PROG Holdings Inc. (b) | 92,675 | 1,529,138 | |
2,459,081 | |||
Data Processing & Outsourced Services - 0.9% | |||
CSG Systems International Inc. | 75,798 | 4,523,625 | |
Shift4 Payments Inc., Class A (b) | 22,010 | 727,650 | |
Verra Mobility Corp. (b) | 234,962 | 3,691,253 | |
8,942,528 | |||
Distillers & Vintners - 1.7% | |||
MGP Ingredients Inc. | 170,190 | 17,034,317 | |
Distributors - 0.7% | |||
LKQ Corp. | 137,986 | 6,773,733 |
See Notes to Schedule of Investments.
6 | State Street Institutional Small-Cap Equity Fund |
State Street Institutional Small-Cap Equity Fund
Schedule of Investments
June 30, 2022 (Unaudited)
Number of Shares | Fair Value | ||
Diversified Metals & Mining - 0.2% | |||
Compass Minerals International Inc. | 43,587 | $1,542,544 | |
Materion Corp. | 11,059 | 815,380 | |
2,357,924 | |||
Diversified REITs - 0.3% | |||
Alpine Income Property Trust Inc. | 70,720 | 1,267,303 | |
American Assets Trust Inc. | 49,747 | 1,477,486 | |
Essential Properties Realty Trust Inc. | 32,864 | 706,247 | |
3,451,036 | |||
Diversified Support Services - 2.4% | |||
Healthcare Services Group Inc. | 190,480 | 3,316,257 | |
IAA Inc. (b) | 105,773 | 3,466,181 | |
Matthews International Corp., Class A | 70,230 | 2,013,494 | |
Ritchie Bros Auctioneers Inc. | 216,298 | 14,072,348 | |
UniFirst Corp. | 6,587 | 1,134,150 | |
24,002,430 | |||
Education Services - 0.6% | |||
Grand Canyon Education Inc. (b) | 21,030 | 1,980,816 | |
Stride Inc. (b) | 98,635 | 4,023,321 | |
6,004,137 | |||
Electric Utilities - 0.9% | |||
ALLETE Inc. (a) | 12,861 | 755,970 | |
IDACORP Inc. | 79,198 | 8,388,652 | |
9,144,622 | |||
Electrical Components & Equipment - 0.4% | |||
Acuity Brands Inc. (a) | 5,928 | 913,149 | |
Atkore Inc. (b) | 12,632 | 1,048,582 | |
Regal Rexnord Corp. | 15,496 | 1,759,106 | |
3,720,837 | |||
Electronic Components - 1.4% | |||
Belden Inc. | 123,242 | 6,565,101 | |
II-VI Inc. (b) | 28,045 | 1,428,893 | |
Littelfuse Inc. | 22,966 | 5,834,283 | |
13,828,277 | |||
Electronic Equipment & Instruments - 0.8% | |||
National Instruments Corp. | 132,269 | 4,130,761 | |
Novanta Inc. (b) | 31,000 | 3,759,370 | |
7,890,131 | |||
Electronic Manufacturing Services - 0.2% | |||
Plexus Corp. (b) | 19,829 | 1,556,576 | |
Environmental & Facilities Services - 0.6% | |||
Clean Harbors Inc. (b) | 49,690 | 4,356,322 | |
Montrose Environmental Group Inc. (b) | 57,500 | 1,941,200 | |
6,297,522 | |||
Food Distributors - 0.4% | |||
Performance Food Group Co. (b) | 85,515 | 3,931,980 | |
Footwear - 0.6% | |||
Deckers Outdoor Corp. (b) | 14,590 | 3,725,556 |
Number of Shares | Fair Value | ||
Wolverine World Wide Inc. | 91,330 | $1,841,213 | |
5,566,769 | |||
General Merchandise Stores - 0.1% | |||
Ollie's Bargain Outlet Holdings Inc. (b) | 15,937 | 936,299 | |
Health Care REITs - 0.2% | |||
Community Healthcare Trust Inc. | 54,175 | 1,961,677 | |
Healthcare Distributors - 0.7% | |||
AdaptHealth Corp. (a)(b) | 190,111 | 3,429,602 | |
Covetrus Inc. (b) | 166,270 | 3,450,103 | |
6,879,705 | |||
Healthcare Equipment - 4.0% | |||
AtriCure Inc. (b) | 74,000 | 3,023,640 | |
Axonics Inc. (b) | 50,500 | 2,861,835 | |
Cardiovascular Systems Inc. (b) | 113,000 | 1,622,680 | |
CONMED Corp. | 61,000 | 5,841,360 | |
Glaukos Corp. (b) | 16,268 | 738,892 | |
Globus Medical Inc., Class A (b) | 79,500 | 4,463,130 | |
Heska Corp. (b) | 8,635 | 816,094 | |
Integra LifeSciences Holdings Corp. (b) | 124,000 | 6,699,720 | |
LeMaitre Vascular Inc. | 20,904 | 952,177 | |
Masimo Corp. (b) | 6,000 | 784,020 | |
Omnicell Inc. (b) | 38,009 | 4,323,524 | |
Outset Medical Inc. (b) | 79,000 | 1,173,940 | |
Penumbra Inc. (b) | 28,000 | 3,486,560 | |
SI-BONE Inc. (b) | 83,500 | 1,102,200 | |
Tandem Diabetes Care Inc. (b) | 44,500 | 2,633,955 | |
40,523,727 | |||
Healthcare Facilities - 1.2% | |||
Acadia Healthcare Company Inc. (a)(b) | 100,479 | 6,795,395 | |
Hanger Inc. (b) | 150,890 | 2,160,745 | |
The Ensign Group Inc. | 24,972 | 1,834,693 | |
The Pennat Group Inc. (b) | 37,618 | 481,886 | |
U.S. Physical Therapy Inc. | 11,073 | 1,209,172 | |
12,481,891 | |||
Healthcare Services - 1.4% | |||
Addus HomeCare Corp. (a)(b) | 21,107 | 1,757,791 | |
Amedisys Inc. (b) | 17,499 | 1,839,495 | |
AMN Healthcare Services Inc. (b) | 33,605 | 3,686,805 | |
Castle Biosciences Inc. (b) | 80,540 | 1,767,853 | |
Chemed Corp. | 2,883 | 1,353,251 | |
MEDNAX Inc. (b) | 83,944 | 1,763,663 | |
Oak Street Health Inc. (b) | 30,668 | 504,182 | |
Privia Health Group Inc. (b) | 52,884 | 1,539,982 | |
14,213,022 | |||
Healthcare Supplies - 0.6% | |||
BioLife Solutions Inc. (b) | 127,650 | 1,762,847 | |
ICU Medical Inc. (b) | 6,552 | 1,077,083 | |
Neogen Corp. (b) | 31,625 | 761,846 | |
OrthoPediatrics Corp. (b) | 15,140 | 653,291 | |
Pulmonx Corp. (b) | 99,500 | 1,464,640 | |
5,719,707 |
See Notes to Schedule of Investments.
State Street Institutional Small-Cap Equity Fund | 7 |
State Street Institutional Small-Cap Equity Fund
Schedule of Investments
June 30, 2022 (Unaudited)
Number of Shares | Fair Value | ||
Healthcare Technology - 1.0% | |||
Certara Inc. (b) | 44,293 | $950,528 | |
Definitive Healthcare Corp. (b) | 38,119 | 874,069 | |
Inspire Medical Systems Inc. (b) | 31,500 | 5,754,105 | |
NextGen Healthcare Inc. (b) | 97,760 | 1,704,934 | |
Phreesia Inc. (b) | 25,690 | 642,507 | |
9,926,143 | |||
Home Building - 0.7% | |||
Cavco Industries Inc. (b) | 8,391 | 1,644,552 | |
Green Brick Partners Inc. (b) | 65,292 | 1,277,764 | |
Taylor Morrison Home Corp. (b) | 122,776 | 2,868,047 | |
TopBuild Corp. (b) | 9,035 | 1,510,291 | |
7,300,654 | |||
Home Furnishing Retail - 0.2% | |||
The Aaron's Company Inc. (a) | 130,043 | 1,892,126 | |
Home Improvement Retail - 0.1% | |||
Floor & Decor Holdings Inc., Class A (b) | 20,358 | 1,281,740 | |
Hotel & Resort REITs - 0.5% | |||
RLJ Lodging Trust | 299,356 | 3,301,896 | |
Sunstone Hotel Investors Inc. (b) | 154,128 | 1,528,950 | |
4,830,846 | |||
Household Appliances - 0.1% | |||
Helen of Troy Ltd. (b) | 8,826 | 1,433,431 | |
Household Products - 0.3% | |||
Central Garden & Pet Co., Class A (b) | 75,000 | 3,000,750 | |
Industrial Machinery - 7.9% | |||
Albany International Corp., Class A (a) | 23,000 | 1,812,170 | |
Altra Industrial Motion Corp. (a) | 269,539 | 9,501,250 | |
Barnes Group Inc. | 216,107 | 6,729,572 | |
Chart Industries Inc. (b) | 6,994 | 1,170,656 | |
Crane Holdings Co. | 102,720 | 8,994,163 | |
Enerpac Tool Group Corp. | 513,037 | 9,757,964 | |
ESCO Technologies Inc. | 56,000 | 3,828,720 | |
Evoqua Water Technologies Corp. (b) | 194,000 | 6,306,940 | |
John Bean Technologies Corp. | 74,000 | 8,171,080 | |
Kadant Inc. | 6,642 | 1,211,169 | |
Kornit Digital Ltd. (b) | 22,215 | 704,215 | |
Mueller Industries Inc. | 92,496 | 4,929,112 | |
Proto Labs Inc. (b) | 5,992 | 286,657 | |
RBC Bearings Inc. (b) | 17,000 | 3,144,150 | |
Standex International Corp. | 28,000 | 2,373,840 | |
The Timken Co. | 191,351 | 10,151,170 | |
79,072,828 | |||
Industrial REITs - 0.7% | |||
EastGroup Properties Inc. | 42,093 | 6,496,213 | |
Innovative Industrial Properties Inc. | 3,501 | 384,655 | |
6,880,868 | |||
Insurance Brokers - 0.4% | |||
BRP Group Inc., Class A (b) | 158,000 | 3,815,700 |
Number of Shares | Fair Value | ||
Goosehead Insurance Inc., Class A | 11,244 | $513,513 | |
4,329,213 | |||
Interactive Media & Services - 0.0% * | |||
Vimeo Inc. (b) | 32,547 | 195,933 | |
Internet & Direct Marketing Retail - 0.3% | |||
Fiverr International Ltd. (b) | 11,006 | 378,496 | |
Overstock.com Inc. (b) | 30,398 | 760,254 | |
Porch Group Inc. (b) | 68,570 | 175,539 | |
Revolve Group Inc. (b) | 42,206 | 1,093,558 | |
ThredUp Inc., Class A (b) | 65,232 | 163,080 | |
2,570,927 | |||
Internet Services & Infrastructure - 0.2% | |||
Squarespace Inc., Class A (b) | 39,555 | 827,491 | |
Switch Inc., Class A | 48,984 | 1,640,964 | |
2,468,455 | |||
Investment Banking & Brokerage - 1.0% | |||
Piper Sandler Cos. | 16,640 | 1,886,310 | |
Raymond James Financial Inc. | 65,239 | 5,833,019 | |
Stifel Financial Corp. | 39,173 | 2,194,472 | |
9,913,801 | |||
IT Consulting & Other Services - 0.7% | |||
Globant S.A. (b) | 13,226 | 2,301,324 | |
Grid Dynamics Holdings Inc. (b) | 55,629 | 935,680 | |
Perficient Inc. (b) | 8,360 | 766,528 | |
Unisys Corp. (b) | 248,470 | 2,989,094 | |
6,992,626 | |||
Leisure Products - 1.7% | |||
Malibu Boats Inc., Class A (b) | 131,682 | 6,940,958 | |
Polaris Inc. | 100,035 | 9,931,475 | |
16,872,433 | |||
Life & Health Insurance - 0.3% | |||
American Equity Investment Life Holding Co. | 52,867 | 1,933,346 | |
Trupanion Inc. (b) | 25,504 | 1,536,871 | |
3,470,217 | |||
Life Sciences Tools & Services - 2.9% | |||
Azenta Inc. | 44,231 | 3,189,055 | |
Bruker Corp. | 85,573 | 5,370,562 | |
ICON PLC (b) | 24,469 | 5,302,432 | |
Medpace Holdings Inc. (b) | 8,579 | 1,284,019 | |
Repligen Corp. (b) | 36,070 | 5,857,768 | |
Syneos Health Inc. (b) | 109,913 | 7,878,564 | |
28,882,400 | |||
Managed Healthcare - 0.1% | |||
Progyny Inc. (b) | 23,946 | 695,631 | |
Marine - 0.2% | |||
Kirby Corp. (b) | 25,792 | 1,569,185 | |
Metal & Glass Containers - 0.4% | |||
TriMas Corp. | 146,500 | 4,056,585 | |
Multi-Line Insurance - 0.3% | |||
Horace Mann Educators Corp. | 70,594 | 2,709,398 |
See Notes to Schedule of Investments.
8 | State Street Institutional Small-Cap Equity Fund |
State Street Institutional Small-Cap Equity Fund
Schedule of Investments
June 30, 2022 (Unaudited)
Number of Shares | Fair Value | ||
Multi-Utilities - 0.2% | |||
Avista Corp. | 34,355 | $1,494,786 | |
Office REITs - 0.9% | |||
Corporate Office Properties Trust | 42,952 | 1,124,913 | |
Cousins Properties Inc. | 144,659 | 4,228,382 | |
Easterly Government Properties Inc. | 166,294 | 3,166,238 | |
8,519,533 | |||
Office Services & Supplies - 1.0% | |||
MSA Safety Inc. | 80,776 | 9,779,550 | |
Oil & Gas Drilling - 0.1% | |||
Helmerich & Payne Inc. | 26,008 | 1,119,904 | |
Oil & Gas Equipment & Services - 0.5% | |||
ChampionX Corp. | 86,695 | 1,720,896 | |
Oil States International Inc. (b) | 613,264 | 3,323,891 | |
5,044,787 | |||
Oil & Gas Exploration & Production - 1.4% | |||
Denbury Inc. (b) | 20,661 | 1,239,453 | |
Northern Oil & Gas Inc. | 99,137 | 2,504,201 | |
PDC Energy Inc. | 152,955 | 9,423,558 | |
Southwestern Energy Co. (b) | 214,140 | 1,338,375 | |
14,505,587 | |||
Oil & Gas Refining & Marketing - 0.2% | |||
HF Sinclair Corp. | 42,977 | 1,940,841 | |
Packaged Foods & Meats - 2.8% | |||
Calavo Growers Inc. | 43,436 | 1,812,150 | |
Freshpet Inc. (b) | 60,766 | 3,153,148 | |
Hostess Brands Inc. (b) | 245,500 | 5,207,055 | |
J&J Snack Foods Corp. | 25,000 | 3,491,500 | |
Lancaster Colony Corp. | 45,000 | 5,795,100 | |
Sanderson Farms Inc. | 3,522 | 759,096 | |
The Simply Good Foods Co. (b) | 127,000 | 4,796,790 | |
Utz Brands Inc. | 230,500 | 3,185,510 | |
28,200,349 | |||
Paper Packaging - 0.1% | |||
Ranpak Holdings Corp. (b) | 87,820 | 614,740 | |
Personal Products - 0.6% | |||
BellRing Brands Inc. (b) | 66,126 | 1,645,876 | |
elf Beauty Inc. (b) | 132,905 | 4,077,526 | |
5,723,402 | |||
Pharmaceuticals - 0.0% * | |||
ANI Pharmaceuticals Inc. (b) | 16,392 | 486,351 | |
Property & Casualty Insurance - 2.2% | |||
AMERISAFE Inc. | 42,105 | 2,189,881 | |
Argo Group International Holdings Ltd. | 140,661 | 5,184,765 | |
James River Group Holdings Ltd. | 97,000 | 2,403,660 | |
Palomar Holdings Inc. (b) | 39,500 | 2,543,800 | |
RLI Corp. | 36,192 | 4,219,625 | |
Selective Insurance Group Inc. | 64,000 | 5,564,160 | |
22,105,891 |
Number of Shares | Fair Value | ||
Publishing - 1.1% | |||
John Wiley & Sons Inc., Class A | 221,862 | $10,596,129 | |
Regional Banks - 8.3% | |||
1st Source Corp. | 37,093 | 1,684,022 | |
Bank OZK | 46,211 | 1,734,299 | |
BankUnited Inc. | 41,947 | 1,492,055 | |
Banner Corp. | 15,184 | 853,493 | |
Cadence Bank | 60,299 | 1,415,820 | |
Community Bank System Inc. | 41,500 | 2,626,120 | |
Cullen/Frost Bankers Inc. | 36,215 | 4,217,237 | |
CVB Financial Corp. | 118,000 | 2,927,580 | |
Enterprise Financial Services Corp. | 35,568 | 1,476,072 | |
Equity Bancshares Inc., Class A | 25,882 | 754,719 | |
FB Financial Corp. | 19,171 | 751,887 | |
First Interstate BancSystem Inc., Class A | 70,194 | 2,675,093 | |
Fulton Financial Corp. | 204,793 | 2,959,259 | |
German American Bancorp Inc. | 59,000 | 2,016,620 | |
Home BancShares Inc. | 36,418 | 756,402 | |
HomeStreet Inc. | 56,646 | 1,963,917 | |
Independent Bank Corp. | 118,721 | 9,430,009 | |
Meta Financial Group Inc. | 5,356 | 207,116 | |
National Bank Holdings Corp., Class A | 60,074 | 2,299,032 | |
Origin Bancorp Inc. | 49,731 | 1,929,563 | |
PacWest Bancorp | 55,675 | 1,484,295 | |
Peapack-Gladstone Financial Corp. | 39,208 | 1,164,478 | |
Pinnacle Financial Partners Inc. | 18,685 | 1,351,112 | |
Prosperity Bancshares Inc. | 117,026 | 7,989,365 | |
Renasant Corp. | 142,937 | 4,118,015 | |
Sandy Spring Bancorp Inc. | 34,389 | 1,343,578 | |
Stock Yards Bancorp Inc. | 28,500 | 1,704,870 | |
Texas Capital Bancshares Inc. (b) | 31,512 | 1,658,792 | |
UMB Financial Corp. | 59,000 | 5,079,900 | |
United Community Banks Inc. | 41,149 | 1,242,288 | |
Washington Federal Inc. | 32,691 | 981,384 | |
Washington Trust Bancorp Inc. | 22,500 | 1,088,325 | |
Westamerica BanCorp | 62,067 | 3,454,649 | |
Western Alliance Bancorp | 56,179 | 3,966,237 | |
Wintrust Financial Corp. | 27,811 | 2,229,052 | |
83,026,655 | |||
Research & Consulting Services - 0.5% | |||
Exponent Inc. | 16,428 | 1,502,669 | |
Resources Connection Inc. | 175,852 | 3,582,105 | |
5,084,774 | |||
Residential REITs - 0.3% | |||
NexPoint Residential Trust Inc. | 41,080 | 2,567,911 | |
Restaurants - 1.0% | |||
Bloomin' Brands Inc. | 62,971 | 1,046,578 | |
Shake Shack Inc., Class A (b) | 34,500 | 1,362,060 | |
Texas Roadhouse Inc. | 38,025 | 2,783,430 | |
The Cheesecake Factory Inc. | 69,015 | 1,823,376 | |
Wingstop Inc. | 45,500 | 3,402,035 | |
10,417,479 | |||
Retail REITs - 0.2% | |||
Kite Realty Group Trust | 102,336 | 1,769,389 |
See Notes to Schedule of Investments.
State Street Institutional Small-Cap Equity Fund | 9 |
State Street Institutional Small-Cap Equity Fund
Schedule of Investments
June 30, 2022 (Unaudited)
Number of Shares | Fair Value | ||
The Macerich Co. | 47,701 | $415,476 | |
2,184,865 | |||
Security & Alarm Services - 1.1% | |||
The Brink's Co. | 177,106 | 10,752,105 | |
Semiconductor Equipment - 1.4% | |||
CMC Materials Inc. | 49,361 | 8,613,001 | |
Ichor Holdings Ltd. (b) | 37,267 | 968,197 | |
Onto Innovation Inc. (b) | 58,153 | 4,055,590 | |
13,636,788 | |||
Semiconductors - 0.8% | |||
Diodes Inc. (b) | 11,779 | 760,570 | |
MaxLinear Inc. (b) | 24,059 | 817,525 | |
Power Integrations Inc. | 19,139 | 1,435,616 | |
Semtech Corp. (b) | 80,387 | 4,418,873 | |
SMART Global Holdings Inc. (b) | 59,210 | 969,268 | |
8,401,852 | |||
Soft Drinks - 0.3% | |||
Primo Water Corp. | 238,533 | 3,191,572 | |
Zevia PBC, Class A (b) | 55,000 | 154,550 | |
3,346,122 | |||
Specialized Consumer Services - 0.2% | |||
European Wax Center Inc., Class A | 68,000 | 1,198,160 | |
OneSpaWorld Holdings Ltd. (b) | 154,789 | 1,109,837 | |
2,307,997 | |||
Specialized REITs - 0.3% | |||
National Storage Affiliates Trust | 33,330 | 1,668,833 | |
PotlatchDeltic Corp. | 24,728 | 1,092,730 | |
2,761,563 | |||
Specialty Chemicals - 4.1% | |||
Avient Corp. | 151,357 | 6,066,389 | |
HB Fuller Co. | 13,901 | 836,979 | |
Ingevity Corp. (b) | 213,646 | 13,489,609 | |
Innospec Inc. | 42,000 | 4,023,180 | |
Quaker Chemical Corp. | 22,287 | 3,332,352 | |
Sensient Technologies Corp. | 36,990 | 2,979,914 | |
Stepan Co. | 105,986 | 10,741,681 | |
41,470,104 | |||
Specialty Stores - 0.8% | |||
Five Below Inc. (b) | 15,106 | 1,713,474 |
Number of Shares | Fair Value | ||
Leslie's Inc. (b) | 180,000 | $2,732,400 | |
National Vision Holdings Inc. (b) | 29,404 | 808,610 | |
Sally Beauty Holdings Inc. (b) | 192,000 | 2,288,640 | |
7,543,124 | |||
Steel - 0.4% | |||
Carpenter Technology Corp. | 29,709 | 829,178 | |
Commercial Metals Co. | 94,844 | 3,139,337 | |
3,968,515 | |||
Systems Software - 0.8% | |||
Ping Identity Holding Corp. (b) | 190,060 | 3,447,688 | |
Tenable Holdings Inc. (b) | 98,500 | 4,472,885 | |
7,920,573 | |||
Technology Hardware, Storage & Peripherals - 0.9% | |||
Corsair Gaming Inc. (b) | 109,176 | 1,433,481 | |
Pure Storage Inc., Class A (b) | 290,620 | 7,471,840 | |
8,905,321 | |||
Thrifts & Mortgage Finance - 0.7% | |||
Flagstar Bancorp Inc. | 18,165 | 643,949 | |
WSFS Financial Corp. | 154,727 | 6,203,006 | |
6,846,955 | |||
Trading Companies & Distributors - 2.0% | |||
Applied Industrial Technologies Inc. | 85,298 | 8,203,108 | |
McGrath RentCorp. | 15,427 | 1,172,452 | |
Transcat Inc. (b) | 18,000 | 1,022,580 | |
Univar Solutions Inc. (b) | 376,556 | 9,364,948 | |
19,763,088 | |||
Trucking - 0.5% | |||
Saia Inc. (b) | 27,607 | 5,190,116 | |
Total Common Stock (Cost $812,900,004) | 942,435,120 | ||
Short-Term Investments - 5.5% | |||
State Street Institutional U.S. Government Money Market Fund - Class G Shares 1.47% (a)(c)(d) (Cost $55,377,440) | 55,377,440 | 55,377,440 | |
Total Investments (Cost $868,277,444) | 997,812,560 | ||
Other Assets and Liabilities, net - 0.4% | 3,657,170 | ||
NET ASSETS - 100.0% | $1,001,469,730 |
Other Information:
The Fund had the following long futures contracts open at June 30, 2022: |
Description | Expiration Date | Number of Contracts | Notional Amount | Value | Unrealized Appreciation (Depreciation) | |||||
E-Mini Russell 2000 Index Futures | September 2022 | 10,800 | $18,740,677 | $18,446,400 | $(294,277) |
See Notes to Schedule of Investments.
10 | State Street Institutional Small-Cap Equity Fund |
State Street Institutional Small-Cap Equity Fund
Schedule of Investments
June 30, 2022 (Unaudited)
The views expressed in this document reflect our judgment as of the publication date and are subject to change at any time without notice. The securities cited may not be representative of the Fund’s future investments and should not be construed as a recommendation to purchase or sell a particular security. See the Fund’s summary prospectus and statutory prospectus for complete descriptions of investment objectives, policies, risks and permissible investments.
(a) | At June 30, 2022, all or a portion of this security was pledged to cover collateral requirements for futures. |
(b) | Non-income producing security. |
(c) | Sponsored by SSGA Funds Management, Inc., the Fund’s investment adviser and administrator, and an affiliate of State Street Bank & Trust Co., the Fund’s sub-administrator, custodian and accounting agent. |
(d) | Coupon amount represents effective yield. |
† | Percentages are based on net assets as of June 30, 2022. |
* | Less than 0.05%. |
Abbreviations: |
REIT - Real Estate Investment Trust |
The following table presents the Fund’s investments measured at fair value on a recurring basis at June 30, 2022:
Investments | Level 1 | Level 2 | Level 3 | Total | ||||
Investments in Securities | ||||||||
Common Stock | $942,435,120 | $— | $— | $942,435,120 | ||||
Short-Term Investments | 55,377,440 | — | — | 55,377,440 | ||||
Total Investments in Securities | $997,812,560 | $— | $— | $997,812,560 | ||||
Other Financial Instruments | ||||||||
Long Futures Contracts - Unrealized Depreciation | (294,277) | — | — | (294,277) | ||||
Total Other Financial Instruments | $(294,277) | $— | $— | $(294,277) |
Affiliate Table |
Number of Shares Held at 9/30/21 | Value at 9/30/21 | Cost of Purchases | Proceeds from Shares Sold | Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Number of Shares Held at 6/30/22 | Value at 6/30/22 | Dividend Income | |||||||||
State Street Institutional U.S. Government Money Market Fund - Class G Shares | 49,748,651 | $49,748,651 | $272,007,705 | $266,378,916 | $— | $— | 55,377,440 | $55,377,440 | $109,367 |
See Notes to Schedule of Investments.
State Street Institutional Small-Cap Equity Fund | 11 |
State Street Institutional Funds
Notes to Schedule of Investments
June 30, 2022 (Unaudited)
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 of Trustees of the Trust (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 preferred stocks and 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.
•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.
A “significant event” is an event that the Board believes, with a reasonably high degree of certainty, has caused the closing market prices of a Fund’s portfolio securities to no longer reflect their value at the time of the Fund’s NAV calculation. Fair value may be determined using an independent fair value service under valuation procedures approved by the Board. The independent fair value service takes into account multiple factors including, but not limited to, movements in the U.S. securities markets, certain depositary receipts, futures contracts and foreign currency exchange rates that have occurred subsequent to the close of foreign securities exchanges. The use of the independent fair value service or alternative fair valuation methods would result in the investments being classified within Level 2 of the fair value hierarchy.
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 June 30, 2022 is disclosed in each Fund’s respective Schedule of Investments.
Futures Contracts
Certain 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. Subsequent payments are made or received by a Fund equal to the daily
12
State Street Institutional Funds
Notes to Schedule of Investments
June 30, 2022 (Unaudited)
change in the contract value and are recorded as variation margin receivable or payable with a corresponding offset to unrealized gains or losses. A Fund recognizes 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 the movement of the assets underlying such contracts.
For the period ended June 30, 2022 the following Funds entered into futures contracts for strategies listed below:
Fund | Strategies | |
State Street Institutional U.S. Equity Fund | Equitization of Cash | |
State Street Institutional Premier Growth Equity Fund | Equitization of Cash | |
State Street Institutional Small-Cap Equity Fund | Equitization of Cash | |
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