UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-08837
THE SELECT SECTOR SPDR® TRUST
(Exact name of registrant as specified in charter)
One Iron Street, Boston, Massachusetts 02210
(Address of principal executive offices) (zip code)
Sean O’Malley, Esq.
Senior Vice President and General Counsel
c/o SSGA Funds Management, Inc.
One Iron Street
Boston, Massachusetts 02210
(Name and address of agent for service)
Copy to:
W. John McGuire, Esq.
Morgan, Lewis, & Bockius, LLP
1111 Pennsylvania Avenue, NW
Washington, D.C. 20004
Registrant’s telephone number, including area code: (617) 664-1465
Date of fiscal year end: September 30
Date of reporting period: September 30, 2023
Item 1. Report to Shareholders.
(a) The Reports to Shareholders are attached herewith.
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The Communication Services Select Sector SPDR Fund | XLC |
The Consumer Discretionary Select Sector SPDR Fund | XLY |
The Consumer Staples Select Sector SPDR Fund | XLP |
The Energy Select Sector SPDR Fund | XLE |
The Financial Select Sector SPDR Fund | XLF |
The Health Care Select Sector SPDR Fund | XLV |
The Industrial Select Sector SPDR Fund | XLI |
The Materials Select Sector SPDR Fund | XLB |
The Real Estate Select Sector SPDR Fund | XLRE |
The Technology Select Sector SPDR Fund | XLK |
The Utilities Select Sector SPDR Fund | XLU |
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Management’s Discussion of Fund Performance, Performance Summaries & Portfolio Statistics (Unaudited) | |
3 | |
6 | |
9 | |
12 | |
15 | |
18 | |
21 | |
24 | |
28 | |
31 | |
34 | |
Schedules of Investments | |
37 | |
38 | |
40 | |
42 | |
44 | |
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48 | |
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Cumulative Total Return | Average Annual Total Return | |||||||||||||
Net Asset Value | Market Value | Communication Services Select Sector Index | S&P 500 Index | Net Asset Value | Market Value | Communication Services Select Sector Index | S&P 500 Index | |||||||
ONE YEAR | 38.24% | 38.17% | 38.38% | 21.62% | 38.24% | 38.17% | 38.38% | 21.62% | ||||||
FIVE YEARS | 39.91% | 39.88% | 40.62% | 60.44% | 6.95% | 6.94% | 7.05% | 9.92% | ||||||
SINCE INCEPTION (1) | 37.42% | 37.42% | 38.16% | 69.42% | 6.20% | 6.20% | 6.31% | 10.49% | ||||||
(1) | For the period June 18, 2018 to September 30, 2023. |
(Based on Net Asset Value)
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Description | Market Value | % of Net Assets | ||
Meta Platforms, Inc. Class A | 3,091,791,940 | 23.6% | ||
Alphabet, Inc. Class A | 1,586,259,010 | 12.1 | ||
Alphabet, Inc. Class C | 1,359,548,729 | 10.4 | ||
AT&T, Inc. | 626,081,904 | 4.8 | ||
Charter Communications, Inc. Class A | 624,925,284 | 4.7 | ||
TOTAL | 7,288,606,867 | 55.6% |
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Cumulative Total Return | Average Annual Total Return | |||||||||||||
Net Asset Value | Market Value | Consumer Discretionary Select Sector Index | S&P 500 Index | Net Asset Value | Market Value | Consumer Discretionary Select Sector Index | S&P 500 Index | |||||||
ONE YEAR | 14.08% | 14.08% | 14.16% | 21.62% | 14.08% | 14.08% | 14.16% | 21.62% | ||||||
FIVE YEARS | 44.30% | 44.32% | 45.10% | 60.44% | 7.61% | 7.61% | 7.73% | 9.92% | ||||||
TEN YEARS | 199.74% | 199.64% | 203.87% | 208.21% | 11.60% | 11.60% | 11.76% | 11.91% | ||||||
(Based on Net Asset Value)
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Description | Market Value | % of Net Assets | ||
Amazon.com, Inc. | 3,857,223,135 | 22.1% | ||
Tesla, Inc. | 3,486,766,407 | 20.0 | ||
McDonald's Corp. | 773,885,822 | 4.5 | ||
Home Depot, Inc. | 753,991,934 | 4.3 | ||
Lowe's Cos., Inc. | 696,368,336 | 4.0 | ||
TOTAL | 9,568,235,634 | 54.9% |
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Cumulative Total Return | Average Annual Total Return | |||||||||||||
Net Asset Value | Market Value | Consumer Staples Select Sector Index | S&P 500 Index | Net Asset Value | Market Value | Consumer Staples Select Sector Index | S&P 500 Index | |||||||
ONE YEAR | 5.84% | 5.79% | 5.94% | 21.62% | 5.84% | 5.79% | 5.94% | 21.62% | ||||||
FIVE YEARS | 45.68% | 45.69% | 46.65% | 60.44% | 7.82% | 7.82% | 7.96% | 9.92% | ||||||
TEN YEARS | 124.97% | 124.96% | 128.22% | 208.21% | 8.45% | 8.44% | 8.60% | 11.91% | ||||||
(Based on Net Asset Value)
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Description | Market Value | % of Net Assets | ||
Procter & Gamble Co. | 2,354,116,076 | 14.5% | ||
Costco Wholesale Corp. | 1,714,144,571 | 10.6 | ||
PepsiCo, Inc. | 1,596,959,123 | 9.8 | ||
Walmart, Inc. | 1,562,750,397 | 9.7 | ||
Mondelez International, Inc. Class A | 745,627,423 | 4.6 | ||
TOTAL | 7,973,597,590 | 49.2% |
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Cumulative Total Return | Average Annual Total Return | |||||||||||||
Net Asset Value | Market Value | Energy Select Sector Index | S&P 500 Index | Net Asset Value | Market Value | Energy Select Sector Index | S&P 500 Index | |||||||
ONE YEAR | 30.31% | 30.28% | 30.41% | 21.62% | 30.31% | 30.28% | 30.41% | 21.62% | ||||||
FIVE YEARS | 53.17% | 53.21% | 53.99% | 60.44% | 8.90% | 8.91% | 9.02% | 9.92% | ||||||
TEN YEARS | 59.93% | 59.92% | 61.74% | 208.21% | 4.81% | 4.81% | 4.93% | 11.91% | ||||||
(Based on Net Asset Value)
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Description | Market Value | % of Net Assets | ||
Exxon Mobil Corp. | 9,162,459,596 | 23.5% | ||
Chevron Corp. | 7,269,975,758 | 18.6 | ||
EOG Resources, Inc. | 1,793,528,761 | 4.6 | ||
ConocoPhillips | 1,720,682,848 | 4.4 | ||
Schlumberger NV | 1,707,840,842 | 4.4 | ||
TOTAL | 21,654,487,805 | 55.5% |
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Cumulative Total Return | Average Annual Total Return | |||||||||||||
Net Asset Value | Market Value | Financial Select Sector Index | S&P 500 Index | Net Asset Value | Market Value | Financial Select Sector Index | S&P 500 Index | |||||||
ONE YEAR | 11.67% | 11.61% | 11.73% | 21.62% | 11.67% | 11.61% | 11.73% | 21.62% | ||||||
FIVE YEARS | 33.37% | 33.43% | 34.10% | 60.44% | 5.93% | 5.94% | 6.04% | 9.92% | ||||||
TEN YEARS | 149.23% | 149.27% | 152.07% | 208.21% | 9.56% | 9.56% | 9.69% | 11.91% | ||||||
(Based on Net Asset Value)
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Description | Market Value | % of Net Assets | ||
Berkshire Hathaway, Inc. Class B | 4,237,650,561 | 13.9% | ||
JPMorgan Chase & Co. | 2,795,590,856 | 9.1 | ||
Visa, Inc. Class A | 2,451,553,995 | 8.0 | ||
Mastercard, Inc. Class A | 2,185,058,171 | 7.1 | ||
Bank of America Corp. | 1,255,628,017 | 4.1 | ||
TOTAL | 12,925,481,600 | 42.2% |
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Cumulative Total Return | Average Annual Total Return | |||||||||||||
Net Asset Value | Market Value | Health Care Select Sector Index | S&P 500 Index | Net Asset Value | Market Value | Health Care Select Sector Index | S&P 500 Index | |||||||
ONE YEAR | 8.10% | 8.05% | 8.18% | 21.62% | 8.10% | 8.05% | 8.18% | 21.62% | ||||||
FIVE YEARS | 47.52% | 47.56% | 48.40% | 60.44% | 8.09% | 8.09% | 8.21% | 9.92% | ||||||
TEN YEARS | 199.09% | 199.11% | 203.14% | 208.21% | 11.58% | 11.58% | 11.73% | 11.91% | ||||||
(Based on Net Asset Value)
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Description | Market Value | % of Net Assets | ||
UnitedHealth Group, Inc. | 3,662,120,537 | 9.7% | ||
Eli Lilly & Co. | 3,358,469,780 | 8.9 | ||
Johnson & Johnson | 2,940,837,858 | 7.8 | ||
AbbVie, Inc. | 2,063,002,176 | 5.5 | ||
Merck & Co., Inc. | 2,048,422,917 | 5.4 | ||
TOTAL | 14,072,853,268 | 37.3% |
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Cumulative Total Return | Average Annual Total Return | |||||||||||||
Net Asset Value | Market Value | Industrial Select Sector Index | S&P 500 Index | Net Asset Value | Market Value | Industrial Select Sector Index | S&P 500 Index | |||||||
ONE YEAR | 24.50% | 24.38% | 24.58% | 21.62% | 24.50% | 24.38% | 24.58% | 21.62% | ||||||
FIVE YEARS | 41.22% | 41.21% | 42.16% | 60.44% | 7.15% | 7.15% | 7.29% | 9.92% | ||||||
TEN YEARS | 163.67% | 163.61% | 167.50% | 208.21% | 10.18% | 10.18% | 10.34% | 11.91% | ||||||
(Based on Net Asset Value)
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Description | Market Value | % of Net Assets | ||
Caterpillar, Inc. | 672,267,414 | 4.7% | ||
Union Pacific Corp. | 599,057,671 | 4.1 | ||
Honeywell International, Inc. | 592,074,704 | 4.1 | ||
General Electric Co. | 580,772,767 | 4.0 | ||
United Parcel Service, Inc. Class B | 544,189,399 | 3.8 | ||
TOTAL | 2,988,361,955 | 20.7% |
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Cumulative Total Return | Average Annual Total Return | |||||||||||||
Net Asset Value | Market Value | Materials Select Sector Index | S&P 500 Index | Net Asset Value | Market Value | Materials Select Sector Index | S&P 500 Index | |||||||
ONE YEAR | 17.97% | 17.90% | 18.05% | 21.62% | 17.97% | 17.90% | 18.05% | 21.62% | ||||||
FIVE YEARS | 50.37% | 50.41% | 50.84% | 60.44% | 8.50% | 8.51% | 8.57% | 9.92% | ||||||
TEN YEARS | 129.00% | 129.00% | 130.95% | 208.21% | 8.64% | 8.64% | 8.73% | 11.91% | ||||||
(Based on Net Asset Value)
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Description | Market Value | % of Net Assets | ||
Linde PLC | 1,017,615,422 | 20.6% | ||
Air Products & Chemicals, Inc. | 352,602,596 | 7.1 | ||
Sherwin-Williams Co. | 337,959,613 | 6.8 | ||
Freeport-McMoRan, Inc. | 299,422,740 | 6.1 | ||
Ecolab, Inc. | 240,687,586 | 4.9 | ||
TOTAL | 2,248,287,957 | 45.5% |
![](https://capedge.com/proxy/N-CSR/0001193125-23-289829/g655772imgb3c9594d19.jpg)
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Cumulative Total Return | Average Annual Total Return | |||||||||||||
Net Asset Value | Market Value | Real Estate Select Sector Index | S&P 500 Index | Net Asset Value | Market Value | Real Estate Select Sector Index | S&P 500 Index | |||||||
ONE YEAR | – 1.81% | – 1.82% | – 1.84% | 21.62% | – 1.81% | – 1.82% | – 1.84% | 21.62% | ||||||
FIVE YEARS | 23.40% | 23.45% | 24.05% | 60.44% | 4.30% | 4.30% | 4.40% | 9.92% | ||||||
SINCE INCEPTION (1) | 49.81% | 49.88% | 51.19% | 149.01% | 5.19% | 5.20% | 5.32% | 12.11% | ||||||
(1) | For the period October 7, 2015 to September 30, 2023. |
(Based on Net Asset Value)
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Description | Market Value | % of Net Assets | ||
Prologis, Inc. REIT | 495,815,594 | 12.1% | ||
American Tower Corp. REIT | 366,648,511 | 8.9 | ||
Equinix, Inc. REIT | 325,040,568 | 7.9 | ||
Welltower, Inc. REIT | 203,242,373 | 5.0 | ||
Public Storage REIT | 199,441,423 | 4.9 | ||
TOTAL | 1,590,188,469 | 38.8% |
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Cumulative Total Return | Average Annual Total Return | |||||||||||||
Net Asset Value | Market Value | Technology Select Sector Index | S&P 500 Index | Net Asset Value | Market Value | Technology Select Sector Index | S&P 500 Index | |||||||
ONE YEAR | 39.34% | 39.32% | 39.46% | 21.62% | 39.34% | 39.32% | 39.46% | 21.62% | ||||||
FIVE YEARS | 129.44% | 129.39% | 131.12% | 60.44% | 18.07% | 18.06% | 18.24% | 9.92% | ||||||
TEN YEARS | 487.37% | 487.18% | 497.31% | 208.21% | 19.37% | 19.36% | 19.57% | 11.91% | ||||||
(Based on Net Asset Value)
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Description | Market Value | % of Net Assets | ||
Apple, Inc. | 11,054,702,518 | 23.2% | ||
Microsoft Corp. | 10,867,332,256 | 22.9 | ||
NVIDIA Corp. | 2,148,550,022 | 4.5 | ||
Broadcom, Inc. | 2,045,046,601 | 4.3 | ||
Adobe, Inc. | 1,386,651,124 | 2.9 | ||
TOTAL | 27,502,282,521 | 57.8% |
![](https://capedge.com/proxy/N-CSR/0001193125-23-289829/g655772img8dd7a7e623.jpg)
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Cumulative Total Return | Average Annual Total Return | |||||||||||||
Net Asset Value | Market Value | Utilities Select Sector Index | S&P 500 Index | Net Asset Value | Market Value | Utilities Select Sector Index | S&P 500 Index | |||||||
ONE YEAR | – 7.02% | – 7.09% | – 7.02% | 21.62% | – 7.02% | – 7.09% | – 7.02% | 21.62% | ||||||
FIVE YEARS | 30.94% | 30.98% | 31.66% | 60.44% | 5.54% | 5.55% | 5.66% | 9.92% | ||||||
TEN YEARS | 119.55% | 119.54% | 122.66% | 208.21% | 8.18% | 8.18% | 8.33% | 11.91% | ||||||
(Based on Net Asset Value)
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Description | Market Value | % of Net Assets | ||
NextEra Energy, Inc. | 1,756,955,970 | 13.3% | ||
Southern Co. | 1,069,587,702 | 8.1 | ||
Duke Energy Corp. | 1,030,824,285 | 7.8 | ||
Sempra | 648,777,823 | 4.9 | ||
American Electric Power Co., Inc. | 587,250,213 | 4.5 | ||
TOTAL | 5,093,395,993 | 38.6% |
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Security Description | Shares | Value | ||||
COMMON STOCKS — 100.0% | ||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 9.2% | ||||||
AT&T, Inc. | 41,683,216 | $ 626,081,904 | ||||
Verizon Communications, Inc. | 17,944,307 | 581,574,990 | ||||
1,207,656,894 | ||||||
ENTERTAINMENT — 23.3% | ||||||
Activision Blizzard, Inc. | 6,515,792 | 610,073,605 | ||||
Electronic Arts, Inc. | 3,744,195 | 450,801,078 | ||||
Live Nation Entertainment, Inc. (a) | 2,153,241 | 178,805,133 | ||||
Netflix, Inc. (a) | 1,355,563 | 511,860,589 | ||||
Take-Two Interactive Software, Inc. (a) | 2,398,816 | 336,769,778 | ||||
Walt Disney Co. (a) | 7,357,698 | 596,341,423 | ||||
Warner Bros Discovery, Inc. (a) | 33,686,033 | 365,830,318 | ||||
3,050,481,924 | ||||||
INTERACTIVE MEDIA & SERVICES — 47.3% | ||||||
Alphabet, Inc. Class A (a) | 12,121,802 | 1,586,259,010 | ||||
Alphabet, Inc. Class C (a) | 10,311,329 | 1,359,548,729 | ||||
Match Group, Inc. (a) | 4,223,435 | 165,453,066 | ||||
Meta Platforms, Inc. Class A (a) | 10,298,764 | 3,091,791,940 | ||||
6,203,052,745 | ||||||
MEDIA — 15.5% | ||||||
Charter Communications, Inc. Class A (a) | 1,420,866 | 624,925,284 | ||||
Comcast Corp. Class A | 13,329,729 | 591,040,184 | ||||
Fox Corp. Class A | 3,852,841 | 120,208,639 | ||||
Fox Corp. Class B | 2,003,620 | 57,864,546 | ||||
Interpublic Group of Cos., Inc. | 5,846,142 | 167,550,430 | ||||
News Corp. Class A | 5,785,609 | 116,059,316 |
Security Description | Shares | Value | ||||
News Corp. Class B | 1,754,322 | $ 36,612,700 | ||||
Omnicom Group, Inc. | 3,000,547 | 223,480,741 | ||||
Paramount Global Class B (b) | 7,323,582 | 94,474,208 | ||||
2,032,216,048 | ||||||
WIRELESS TELECOMMUNICATION SERVICES — 4.7% | ||||||
T-Mobile U.S., Inc. (a) | 4,361,267 | 610,795,443 | ||||
TOTAL COMMON STOCKS (Cost $13,823,439,127) | 13,104,203,054 | |||||
SHORT-TERM INVESTMENT — 0.0% (c) | ||||||
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (d) (e) (Cost $4,699,324) | 4,698,794 | 4,699,733 | ||||
TOTAL INVESTMENTS — 100.0% (Cost $13,828,138,451) | 13,108,902,787 | |||||
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.0% (c) | 1,414,040 | |||||
NET ASSETS — 100.0% | $ 13,110,316,827 |
(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) | 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. |
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||
ASSETS: | ||||||||
INVESTMENTS: | ||||||||
Common Stocks | $13,104,203,054 | $— | $— | $13,104,203,054 | ||||
Short-Term Investment | 4,699,733 | — | — | 4,699,733 | ||||
TOTAL INVESTMENTS | $13,108,902,787 | $— | $— | $13,108,902,787 |
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 | 5,928,151 | $ 5,929,337 | $199,939,492 | $201,168,389 | $(141) | $(566) | 4,698,794 | $4,699,733 | $352,165 | ||||||||
State Street Navigator Securities Lending Portfolio II | 51,992,399 | 51,992,399 | 326,268,838 | 378,261,237 | — | — | — | — | 54,022 | ||||||||
Total | $57,921,736 | $526,208,330 | $579,429,626 | $(141) | $(566) | $4,699,733 | $406,187 |
Security Description | Shares | Value | ||||
COMMON STOCKS — 100.0% | ||||||
AUTOMOBILE COMPONENTS — 1.2% | ||||||
Aptiv PLC (a) | 1,618,544 | $ 159,572,253 | ||||
BorgWarner, Inc. | 1,345,176 | 54,304,755 | ||||
213,877,008 | ||||||
AUTOMOBILES — 23.1% | ||||||
Ford Motor Co. | 22,498,208 | 279,427,743 | ||||
General Motors Co. | 7,873,871 | 259,601,527 | ||||
Tesla, Inc. (a) | 13,934,803 | 3,486,766,407 | ||||
4,025,795,677 | ||||||
BROADLINE RETAIL — 23.2% | ||||||
Amazon.com, Inc. (a) | 30,343,165 | 3,857,223,135 | ||||
eBay, Inc. | 3,045,370 | 134,270,363 | ||||
Etsy, Inc. (a) | 703,953 | 45,461,285 | ||||
4,036,954,783 | ||||||
DISTRIBUTORS — 1.6% | ||||||
Genuine Parts Co. | 803,727 | 116,042,104 | ||||
LKQ Corp. | 1,531,189 | 75,809,167 | ||||
Pool Corp. (b) | 223,516 | 79,594,048 | ||||
271,445,319 | ||||||
HOTELS, RESTAURANTS & LEISURE — 23.4% | ||||||
Airbnb, Inc. Class A (a) | 2,439,958 | 334,786,637 | ||||
Booking Holdings, Inc. (a) | 204,249 | 629,893,704 | ||||
Caesars Entertainment, Inc. (a) | 1,232,072 | 57,106,537 | ||||
Carnival Corp. (a) | 5,764,707 | 79,091,780 | ||||
Chipotle Mexican Grill, Inc. (a) | 157,837 | 289,130,552 | ||||
Darden Restaurants, Inc. | 691,739 | 99,070,860 | ||||
Domino's Pizza, Inc. | 200,846 | 76,078,456 | ||||
Expedia Group, Inc. (a) | 788,868 | 81,308,625 | ||||
Hilton Worldwide Holdings, Inc. | 1,496,575 | 224,755,634 | ||||
Las Vegas Sands Corp. | 1,881,135 | 86,231,228 | ||||
Marriott International, Inc. Class A | 1,433,684 | 281,804,927 | ||||
McDonald's Corp. | 2,937,617 | 773,885,822 | ||||
MGM Resorts International (a) | 1,606,444 | 59,052,881 | ||||
Norwegian Cruise Line Holdings Ltd. (a) (b) | 2,434,569 | 40,121,697 | ||||
Royal Caribbean Cruises Ltd. (a) | 1,348,702 | 124,269,402 | ||||
Starbucks Corp. | 6,554,871 | 598,263,076 | ||||
Wynn Resorts Ltd. | 554,251 | 51,218,335 | ||||
Yum! Brands, Inc. | 1,603,557 | 200,348,412 | ||||
4,086,418,565 | ||||||
HOUSEHOLD DURABLES — 4.1% | ||||||
DR Horton, Inc. | 1,742,379 | 187,253,471 | ||||
Garmin Ltd. | 876,489 | 92,206,643 | ||||
Lennar Corp. Class A | 1,445,208 | 162,195,694 | ||||
Mohawk Industries, Inc. (a) | 302,458 | 25,953,921 | ||||
NVR, Inc. (a) | 18,667 | 111,316,921 | ||||
PulteGroup, Inc. | 1,255,817 | 92,993,249 | ||||
Whirlpool Corp. | 313,726 | 41,945,166 | ||||
713,865,065 |
Security Description | Shares | Value | ||||
LEISURE EQUIPMENT & PRODUCTS — 0.3% | ||||||
Hasbro, Inc. | 746,367 | $ 49,364,713 | ||||
SPECIALTY RETAIL — 18.7% | ||||||
AutoZone, Inc. (a) | 103,901 | 263,907,501 | ||||
Bath & Body Works, Inc. | 1,310,015 | 44,278,507 | ||||
Best Buy Co., Inc. | 1,111,425 | 77,210,695 | ||||
CarMax, Inc. (a) | 905,400 | 64,038,942 | ||||
Home Depot, Inc. | 2,495,340 | 753,991,934 | ||||
Lowe's Cos., Inc. | 3,350,502 | 696,368,336 | ||||
O'Reilly Automotive, Inc. (a) | 345,618 | 314,118,375 | ||||
Ross Stores, Inc. | 1,949,504 | 220,196,477 | ||||
TJX Cos., Inc. | 6,576,743 | 584,540,918 | ||||
Tractor Supply Co. (b) | 622,620 | 126,422,991 | ||||
Ulta Beauty, Inc. (a) | 285,013 | 113,848,443 | ||||
3,258,923,119 | ||||||
TEXTILES, APPAREL & LUXURY GOODS — 4.4% | ||||||
NIKE, Inc. Class B | 7,010,796 | 670,372,314 | ||||
Ralph Lauren Corp. (b) | 231,137 | 26,832,694 | ||||
Tapestry, Inc. | 1,326,524 | 38,137,565 | ||||
VF Corp. (b) | 1,891,592 | 33,424,431 | ||||
768,767,004 | ||||||
TOTAL COMMON STOCKS (Cost $19,249,538,579) | 17,425,411,253 | |||||
SHORT-TERM INVESTMENTS — 0.2% | ||||||
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (c) (d) | 3,802,669 | 3,803,429 | ||||
State Street Navigator Securities Lending Portfolio II (e) (f) | 32,385,839 | 32,385,839 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $36,189,238) | 36,189,268 | |||||
TOTAL INVESTMENTS — 100.2% (Cost $19,285,727,817) | 17,461,600,521 | |||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.2)% | (29,490,305) | |||||
NET ASSETS — 100.0% | $ 17,432,110,216 |
(a) | Non-income producing security. |
(b) | All or a portion of the shares of the security are on loan at September 30, 2023. |
(c) | 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. |
(d) | The rate shown is the annualized seven-day yield at September 30, 2023. |
(e) | 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. |
(f) | Investment of cash collateral for securities loaned. |
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||
ASSETS: | ||||||||
INVESTMENTS: | ||||||||
Common Stocks | $17,425,411,253 | $— | $— | $17,425,411,253 | ||||
Short-Term Investments | 36,189,268 | — | — | 36,189,268 | ||||
TOTAL INVESTMENTS | $17,461,600,521 | $— | $— | $17,461,600,521 |
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 | 17,296,217 | $ 17,299,677 | $ 196,451,068 | $ 209,948,807 | $3,832 | $(2,341) | 3,802,669 | $ 3,803,429 | $ 794,998 | ||||||||
State Street Navigator Securities Lending Portfolio II | 115,679,767 | 115,679,767 | 2,025,927,182 | 2,109,221,110 | — | — | 32,385,839 | 32,385,839 | 294,123 | ||||||||
Total | $132,979,444 | $2,222,378,250 | $2,319,169,917 | $3,832 | $(2,341) | $36,189,268 | $1,089,121 |
Security Description | Shares | Value | ||||
COMMON STOCKS — 99.6% | ||||||
BEVERAGES — 20.8% | ||||||
Brown-Forman Corp. Class B | 1,444,928 | $ 83,357,896 | ||||
Coca-Cola Co. | 12,918,831 | 723,196,160 | ||||
Constellation Brands, Inc. Class A | 1,273,898 | 320,168,784 | ||||
Keurig Dr Pepper, Inc. | 7,945,124 | 250,827,565 | ||||
Molson Coors Beverage Co. Class B | 1,465,890 | 93,215,945 | ||||
Monster Beverage Corp. (a) | 5,873,694 | 311,012,097 | ||||
PepsiCo, Inc. | 9,424,924 | 1,596,959,123 | ||||
3,378,737,570 | ||||||
CONSUMER STAPLES DISTRIBUTION & RETAIL — 28.8% | ||||||
Costco Wholesale Corp. | 3,034,099 | 1,714,144,571 | ||||
Dollar General Corp. | 1,732,194 | 183,266,125 | ||||
Dollar Tree, Inc. (a) | 1,651,425 | 175,794,191 | ||||
Kroger Co. | 5,214,910 | 233,367,223 | ||||
Sysco Corp. | 3,989,127 | 263,481,838 | ||||
Target Corp. | 3,645,129 | 403,041,914 | ||||
Walgreens Boots Alliance, Inc. (b) | 5,658,583 | 125,846,886 | ||||
Walmart, Inc. | 9,771,465 | 1,562,750,397 | ||||
4,661,693,145 | ||||||
FOOD PRODUCTS — 17.2% | ||||||
Archer-Daniels-Midland Co. | 4,233,883 | 319,319,456 | ||||
Bunge Ltd. | 1,189,682 | 128,783,077 | ||||
Campbell Soup Co. | 1,553,722 | 63,826,900 | ||||
Conagra Brands, Inc. (b) | 3,773,970 | 103,482,257 | ||||
General Mills, Inc. | 4,621,504 | 295,730,041 | ||||
Hershey Co. | 1,183,451 | 236,784,876 | ||||
Hormel Foods Corp. | 2,286,462 | 86,954,150 | ||||
J M Smucker Co. | 806,375 | 99,111,551 | ||||
Kellogg Co. | 2,081,838 | 123,890,179 | ||||
Kraft Heinz Co. | 6,305,309 | 212,110,595 | ||||
Lamb Weston Holdings, Inc. | 1,151,458 | 106,463,807 | ||||
McCormick & Co., Inc. | 1,983,099 | 150,001,608 | ||||
Mondelez International, Inc. Class A | 10,743,911 | 745,627,423 | ||||
Tyson Foods, Inc. Class A | 2,255,156 | 113,862,827 | ||||
2,785,948,747 | ||||||
HOUSEHOLD PRODUCTS — 21.3% | ||||||
Church & Dwight Co., Inc. | 1,939,862 | 177,749,555 | ||||
Clorox Co. | 977,886 | 128,161,739 |
Security Description | Shares | Value | ||||
Colgate-Palmolive Co. | 6,528,713 | $ 464,256,781 | ||||
Kimberly-Clark Corp. | 2,670,717 | 322,756,150 | ||||
Procter & Gamble Co. | 16,139,559 | 2,354,116,076 | ||||
3,447,040,301 | ||||||
PERSONAL CARE PRODUCTS — 3.3% | ||||||
Estee Lauder Cos., Inc. Class A | 1,831,171 | 264,695,768 | ||||
Kenvue, Inc. | 13,610,604 | 273,300,928 | ||||
537,996,696 | ||||||
TOBACCO — 8.2% | ||||||
Altria Group, Inc. | 14,015,014 | 589,331,338 | ||||
Philip Morris International, Inc. | 8,044,779 | 744,785,640 | ||||
1,334,116,978 | ||||||
TOTAL COMMON STOCKS (Cost $18,487,903,448) | 16,145,533,437 | |||||
SHORT-TERM INVESTMENTS — 0.2% | ||||||
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (c) (d) | 16,592,825 | 16,596,143 | ||||
State Street Navigator Securities Lending Portfolio II (e) (f) | 5,240,094 | 5,240,094 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $21,836,237) | 21,836,237 | |||||
TOTAL INVESTMENTS — 99.8% (Cost $18,509,739,685) | 16,167,369,674 | |||||
OTHER ASSETS IN EXCESS OF LIABILITIES — 0.2% | 38,863,638 | |||||
NET ASSETS — 100.0% | $ 16,206,233,312 |
(a) | Non-income producing security. |
(b) | All or a portion of the shares of the security are on loan at September 30, 2023. |
(c) | 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. |
(d) | The rate shown is the annualized seven-day yield at September 30, 2023. |
(e) | 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. |
(f) | Investment of cash collateral for securities loaned. |
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||
ASSETS: | ||||||||
INVESTMENTS: | ||||||||
Common Stocks | $16,145,533,437 | $— | $— | $16,145,533,437 | ||||
Short-Term Investments | 21,836,237 | — | — | 21,836,237 | ||||
TOTAL INVESTMENTS | $16,167,369,674 | $— | $— | $16,167,369,674 |
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 | 16,130,664 | $16,133,890 | $ 730,250,823 | $ 729,788,774 | $711 | $(507) | 16,592,825 | $16,596,143 | $1,361,950 | ||||||||
State Street Navigator Securities Lending Portfolio II | 24,693,312 | 24,693,312 | 2,102,529,538 | 2,121,982,756 | — | — | 5,240,094 | 5,240,094 | 105,107 | ||||||||
Total | $40,827,202 | $2,832,780,361 | $2,851,771,530 | $711 | $(507) | $21,836,237 | $1,467,057 |
Security Description | Shares | Value | ||||
COMMON STOCKS — 99.8% | ||||||
ENERGY EQUIPMENT & SERVICES — 9.5% | ||||||
Baker Hughes Co. | 27,912,804 | $ 985,880,237 | ||||
Halliburton Co. | 24,841,082 | 1,006,063,821 | ||||
Schlumberger NV | 29,294,011 | 1,707,840,842 | ||||
3,699,784,900 | ||||||
OIL, GAS & CONSUMABLE FUELS — 90.3% | ||||||
APA Corp. | 8,494,649 | 349,130,074 | ||||
Chevron Corp. | 43,114,552 | 7,269,975,758 | ||||
ConocoPhillips | 14,362,962 | 1,720,682,848 | ||||
Coterra Energy, Inc. | 20,940,537 | 566,441,526 | ||||
Devon Energy Corp. | 17,712,750 | 844,898,175 | ||||
Diamondback Energy, Inc. | 4,943,537 | 765,655,010 | ||||
EOG Resources, Inc. | 14,149,012 | 1,793,528,761 | ||||
EQT Corp. (a) | 9,998,372 | 405,733,936 | ||||
Exxon Mobil Corp. | 77,925,324 | 9,162,459,596 | ||||
Hess Corp. | 7,639,817 | 1,168,892,001 | ||||
Kinder Morgan, Inc. | 53,591,683 | 888,550,104 | ||||
Marathon Oil Corp. | 16,744,805 | 447,923,534 | ||||
Marathon Petroleum Corp. | 11,054,079 | 1,672,924,316 | ||||
Occidental Petroleum Corp. | 18,343,410 | 1,190,120,441 | ||||
ONEOK, Inc. | 16,103,050 | 1,021,416,461 | ||||
Phillips 66 | 12,310,369 | 1,479,090,835 | ||||
Pioneer Natural Resources Co. | 6,445,365 | 1,479,533,536 | ||||
Targa Resources Corp. | 6,184,737 | 530,155,656 | ||||
Valero Energy Corp. | 9,762,641 | 1,383,463,856 | ||||
Williams Cos., Inc. (a) | 33,629,035 | 1,132,962,189 | ||||
35,273,538,613 | ||||||
TOTAL COMMON STOCKS (Cost $36,008,692,769) | 38,973,323,513 |
Security Description | Shares | Value | ||||
SHORT-TERM INVESTMENTS — 0.2% | ||||||
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (b) (c) | 56,611,731 | $ 56,623,053 | ||||
State Street Navigator Securities Lending Portfolio II (d) (e) | 14,004,048 | 14,004,048 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $70,627,024) | 70,627,101 | |||||
TOTAL INVESTMENTS — 100.0% (Cost $36,079,319,793) | 39,043,950,614 | |||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.0)% (f) | (4,300,503) | |||||
NET ASSETS — 100.0% | $ 39,039,650,111 |
(a) | All or a portion of the shares of the security are on loan at September 30, 2023. |
(b) | 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. |
(c) | The rate shown is the annualized seven-day yield at September 30, 2023. |
(d) | 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. |
(e) | Investment of cash collateral for securities loaned. |
(f) | Amount is less than 0.05% of net assets. |
Description | Number of Contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation (Depreciation) | |||||
E-mini S&P 500 Energy Select Sector (long) | 730 | 12/15/2023 | $70,852,340 | $69,753,909 | $(1,103,249) |
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||
ASSETS: | ||||||||
INVESTMENTS: | ||||||||
Common Stocks | $38,973,323,513 | $— | $— | $38,973,323,513 | ||||
Short-Term Investments | 70,627,101 | — | — | 70,627,101 | ||||
TOTAL INVESTMENTS | $39,043,950,614 | $— | $— | $39,043,950,614 | ||||
OTHER FINANCIAL INSTRUMENTS: | ||||||||
Futures Contracts - Unrealized Depreciation | $ (1,103,249) | $— | $— | $ (1,103,249) | ||||
TOTAL OTHER FINANCIAL INSTRUMENTS: | $ (1,103,249) | $— | $— | $ (1,103,249) |
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 | 97,350,272 | $ 97,369,742 | $2,082,518,219 | $2,123,262,665 | $635 | $(2,878) | 56,611,731 | $56,623,053 | $4,504,458 | ||||||||
State Street Navigator Securities Lending Portfolio II | 32,065,518 | 32,065,518 | 3,301,716,399 | 3,319,777,869 | — | — | 14,004,048 | 14,004,048 | 235,128 | ||||||||
Total | $129,435,260 | $5,384,234,618 | $5,443,040,534 | $635 | $(2,878) | $70,627,101 | $4,739,586 |
Security Description | Shares | Value | ||||
COMMON STOCKS — 99.8% | ||||||
BANKS — 29.5% | ||||||
Bank of America Corp. | 45,859,314 | $ 1,255,628,017 | ||||
Bank of New York Mellon Corp. | 5,167,223 | 220,382,061 | ||||
Citigroup, Inc. | 12,773,924 | 525,391,494 | ||||
Citizens Financial Group, Inc. | 3,133,434 | 83,976,031 | ||||
Comerica, Inc. | 874,167 | 36,321,639 | ||||
Fifth Third Bancorp | 4,517,518 | 114,428,731 | ||||
Goldman Sachs Group, Inc. | 2,186,837 | 707,594,848 | ||||
Huntington Bancshares, Inc. | 9,604,828 | 99,890,211 | ||||
JPMorgan Chase & Co. | 19,277,278 | 2,795,590,856 | ||||
KeyCorp | 6,208,377 | 66,802,137 | ||||
M&T Bank Corp. | 1,100,587 | 139,169,226 | ||||
Morgan Stanley | 8,463,236 | 691,192,484 | ||||
Northern Trust Corp. | 1,373,296 | 95,416,606 | ||||
PNC Financial Services Group, Inc. | 2,642,367 | 324,403,397 | ||||
Regions Financial Corp. | 6,225,617 | 107,080,612 | ||||
State Street Corp. (a) | 2,114,046 | 141,556,520 | ||||
Truist Financial Corp. | 8,837,057 | 252,828,201 | ||||
U.S. Bancorp | 10,329,781 | 341,502,560 | ||||
Wells Fargo & Co. | 24,270,261 | 991,682,864 | ||||
Zions Bancorp NA | 982,923 | 34,294,184 | ||||
9,025,132,679 | ||||||
CAPITAL MARKETS — 16.1% | ||||||
Ameriprise Financial, Inc. | 680,880 | 224,472,519 | ||||
BlackRock, Inc. | 931,005 | 601,885,422 | ||||
Blackstone, Inc. (b) | 4,707,976 | 504,412,549 | ||||
Cboe Global Markets, Inc. | 700,086 | 109,360,434 | ||||
Charles Schwab Corp. | 9,863,708 | 541,517,569 | ||||
CME Group, Inc. | 2,386,307 | 477,786,388 | ||||
FactSet Research Systems, Inc. | 252,990 | 110,622,407 | ||||
Franklin Resources, Inc. | 1,887,067 | 46,384,107 | ||||
Intercontinental Exchange, Inc. | 3,797,219 | 417,770,034 | ||||
Invesco Ltd. | 2,976,377 | 43,216,994 | ||||
MarketAxess Holdings, Inc. | 249,824 | 53,372,399 | ||||
Moody's Corp. | 1,047,022 | 331,036,946 | ||||
MSCI, Inc. | 524,742 | 269,234,625 | ||||
Nasdaq, Inc. | 2,249,120 | 109,284,741 | ||||
Raymond James Financial, Inc. | 1,246,945 | 125,230,686 | ||||
S&P Global, Inc. | 2,158,594 | 788,771,834 | ||||
T Rowe Price Group, Inc. | 1,488,050 | 156,051,804 | ||||
4,910,411,458 | ||||||
CONSUMER FINANCE — 3.4% | ||||||
American Express Co. | 3,859,287 | 575,767,028 | ||||
Capital One Financial Corp. | 2,530,730 | 245,607,347 | ||||
Discover Financial Services | 1,658,362 | 143,663,900 | ||||
Synchrony Financial | 2,774,457 | 84,815,150 | ||||
1,049,853,425 | ||||||
FINANCIAL SERVICES — 33.9% | ||||||
Berkshire Hathaway, Inc. Class B (c) | 12,097,204 | 4,237,650,561 | ||||
Fidelity National Information Services, Inc. | 3,930,837 | 217,257,361 |
Security Description | Shares | Value | ||||
Fiserv, Inc. (c) | 4,043,747 | $ 456,781,661 | ||||
FleetCor Technologies, Inc. (c) | 490,622 | 125,275,421 | ||||
Global Payments, Inc. | 1,724,938 | 199,040,596 | ||||
Jack Henry & Associates, Inc. | 483,477 | 73,072,714 | ||||
Mastercard, Inc. Class A | 5,519,078 | 2,185,058,171 | ||||
PayPal Holdings, Inc. (c) | 7,284,153 | 425,831,584 | ||||
Visa, Inc. Class A (b) | 10,658,467 | 2,451,553,995 | ||||
10,371,522,064 | ||||||
INSURANCE — 16.9% | ||||||
Aflac, Inc. | 3,586,502 | 275,264,029 | ||||
Allstate Corp. | 1,735,392 | 193,340,022 | ||||
American International Group, Inc. | 4,723,166 | 286,223,860 | ||||
Aon PLC Class A | 1,345,759 | 436,321,983 | ||||
Arch Capital Group Ltd. (c) | 2,474,406 | 197,234,902 | ||||
Arthur J Gallagher & Co. | 1,429,703 | 325,872,205 | ||||
Assurant, Inc. | 351,760 | 50,505,701 | ||||
Brown & Brown, Inc. | 1,561,779 | 109,074,645 | ||||
Chubb Ltd. | 2,724,552 | 567,197,235 | ||||
Cincinnati Financial Corp. | 1,040,888 | 106,472,434 | ||||
Everest Group Ltd. | 287,300 | 106,780,791 | ||||
Globe Life, Inc. | 576,990 | 62,736,123 | ||||
Hartford Financial Services Group, Inc. | 2,028,978 | 143,874,830 | ||||
Loews Corp. | 1,226,803 | 77,668,898 | ||||
Marsh & McLennan Cos., Inc. | 3,276,638 | 623,544,211 | ||||
MetLife, Inc. | 4,190,879 | 263,648,198 | ||||
Principal Financial Group, Inc. | 1,475,449 | 106,335,609 | ||||
Progressive Corp. | 3,882,778 | 540,870,975 | ||||
Prudential Financial, Inc. | 2,408,364 | 228,529,660 | ||||
Travelers Cos., Inc. | 1,518,981 | 248,064,787 | ||||
W R Berkley Corp. | 1,349,594 | 85,685,723 | ||||
Willis Towers Watson PLC | 695,391 | 145,308,903 | ||||
5,180,555,724 | ||||||
TOTAL COMMON STOCKS (Cost $34,607,606,368) | 30,537,475,350 | |||||
SHORT-TERM INVESTMENTS — 1.7% | ||||||
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (d) (e) | 42,694,543 | 42,703,082 | ||||
State Street Navigator Securities Lending Portfolio II (a) (f) | 483,314,119 | 483,314,119 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $526,017,201) | 526,017,201 | |||||
TOTAL INVESTMENTS — 101.5% (Cost $35,133,623,569) | 31,063,492,551 | |||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (1.5)% | (465,183,250) | |||||
NET ASSETS — 100.0% | $ 30,598,309,301 |
(a) | 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. |
(b) | All or a portion of the shares of the security are on loan at September 30, 2023. |
(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) | Investment of cash collateral for securities loaned. |
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||
ASSETS: | ||||||||
INVESTMENTS: | ||||||||
Common Stocks | $30,537,475,350 | $— | $— | $30,537,475,350 | ||||
Short-Term Investments | 526,017,201 | — | — | 526,017,201 | ||||
TOTAL INVESTMENTS | $31,063,492,551 | $— | $— | $31,063,492,551 |
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. | 2,979,555 | $181,186,739 | $ 221,690,258 | $ 281,343,971 | $(30,551,942) | $50,575,436 | 2,114,046 | $141,556,520 | $ 6,318,866 | ||||||||
State Street Institutional Liquid Reserves Fund, Premier Class | 62,474,114 | 62,486,609 | 954,032,687 | 973,807,642 | (2,181) | (6,391) | 42,694,543 | 42,703,082 | 2,512,228 | ||||||||
State Street Navigator Securities Lending Portfolio II | 122,805,648 | 122,805,648 | 3,567,000,505 | 3,206,492,034 | — | — | 483,314,119 | 483,314,119 | 1,353,830 | ||||||||
Total | $366,478,996 | $4,742,723,450 | $4,461,643,647 | $(30,554,123) | $50,569,045 | $667,573,721 | $10,184,924 |
Security Description | Shares | Value | ||||
COMMON STOCKS — 99.8% | ||||||
BIOTECHNOLOGY — 15.8% | ||||||
AbbVie, Inc. | 13,840,079 | $ 2,063,002,176 | ||||
Amgen, Inc. | 4,193,711 | 1,127,101,768 | ||||
Biogen, Inc. (a) | 1,136,065 | 291,980,066 | ||||
Gilead Sciences, Inc. | 9,770,287 | 732,185,308 | ||||
Incyte Corp. (a) (b) | 1,453,202 | 83,951,479 | ||||
Moderna, Inc. (a) (b) | 2,596,316 | 268,173,480 | ||||
Regeneron Pharmaceuticals, Inc. (a) | 837,019 | 688,833,156 | ||||
Vertex Pharmaceuticals, Inc. (a) | 2,023,801 | 703,756,560 | ||||
5,958,983,993 | ||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 19.3% | ||||||
Abbott Laboratories | 13,607,305 | 1,317,867,489 | ||||
Align Technology, Inc. (a) | 558,534 | 170,531,601 | ||||
Baxter International, Inc. | 3,970,198 | 149,835,273 | ||||
Becton Dickinson & Co. | 2,274,744 | 588,089,566 | ||||
Boston Scientific Corp. (a) | 11,481,313 | 606,213,326 | ||||
Cooper Cos., Inc. | 388,298 | 123,482,647 | ||||
DENTSPLY SIRONA, Inc. | 1,673,187 | 57,156,068 | ||||
Dexcom, Inc. (a) | 3,042,431 | 283,858,812 | ||||
Edwards Lifesciences Corp. (a) | 4,757,834 | 329,622,740 | ||||
GE HealthCare Technologies, Inc. (b) | 3,069,088 | 208,820,748 | ||||
Hologic, Inc. (a) | 1,920,679 | 133,295,123 | ||||
IDEXX Laboratories, Inc. (a) | 651,557 | 284,906,329 | ||||
Insulet Corp. (a) | 546,885 | 87,222,689 | ||||
Intuitive Surgical, Inc. (a) | 2,755,031 | 805,268,011 | ||||
Medtronic PLC | 10,441,978 | 818,233,396 | ||||
ResMed, Inc. | 1,153,191 | 170,522,353 | ||||
STERIS PLC (b) | 773,620 | 169,747,700 | ||||
Stryker Corp. | 2,651,647 | 724,615,576 | ||||
Teleflex, Inc. | 368,730 | 72,422,259 | ||||
Zimmer Biomet Holdings, Inc. | 1,637,041 | 183,708,741 | ||||
7,285,420,447 | ||||||
HEALTH CARE PROVIDERS & SERVICES — 22.4% | ||||||
Cardinal Health, Inc. | 1,998,353 | 173,497,008 | ||||
Cencora, Inc. | 1,307,210 | 235,258,584 | ||||
Centene Corp. (a) | 4,245,864 | 292,455,112 | ||||
Cigna Group | 2,322,222 | 664,318,048 | ||||
CVS Health Corp. | 10,062,098 | 702,535,682 | ||||
DaVita, Inc. (a) (b) | 422,278 | 39,917,939 | ||||
Elevance Health, Inc. | 1,847,709 | 804,529,453 | ||||
HCA Healthcare, Inc. | 1,578,181 | 388,200,962 | ||||
Henry Schein, Inc. (a) (b) | 1,028,329 | 76,353,428 | ||||
Humana, Inc. | 971,598 | 472,701,859 | ||||
Laboratory Corp. of America Holdings | 695,376 | 139,805,345 | ||||
McKesson Corp. | 1,057,749 | 459,962,153 | ||||
Molina Healthcare, Inc. (a) (b) | 457,705 | 150,076,892 | ||||
Quest Diagnostics, Inc. | 879,127 | 107,130,416 | ||||
UnitedHealth Group, Inc. | 7,263,374 | 3,662,120,537 | ||||
Universal Health Services, Inc. Class B | 487,346 | 61,274,013 | ||||
8,430,137,431 |
Security Description | Shares | Value | ||||
LIFE SCIENCES TOOLS & SERVICES — 11.6% | ||||||
Agilent Technologies, Inc. | 2,320,845 | $ 259,516,888 | ||||
Bio-Rad Laboratories, Inc. Class A (a) | 163,750 | 58,696,188 | ||||
Bio-Techne Corp. | 1,241,311 | 84,496,040 | ||||
Charles River Laboratories International, Inc. (a) (b) | 401,632 | 78,711,839 | ||||
Danaher Corp. | 5,152,713 | 1,278,388,095 | ||||
Illumina, Inc. (a) | 1,240,832 | 170,341,417 | ||||
IQVIA Holdings, Inc. (a) (b) | 1,435,926 | 282,518,440 | ||||
Mettler-Toledo International, Inc. (a) | 171,451 | 189,979,710 | ||||
Revvity, Inc. | 973,425 | 107,758,147 | ||||
Thermo Fisher Scientific, Inc. | 3,027,383 | 1,532,370,453 | ||||
Waters Corp. (a) (b) | 463,413 | 127,072,479 | ||||
West Pharmaceutical Services, Inc. | 579,154 | 217,304,372 | ||||
4,387,154,068 | ||||||
PHARMACEUTICALS — 30.7% | ||||||
Bristol-Myers Squibb Co. | 16,381,071 | 950,757,361 | ||||
Catalent, Inc. (a) (b) | 1,413,375 | 64,350,964 | ||||
Eli Lilly & Co. | 6,252,620 | 3,358,469,780 | ||||
Johnson & Johnson | 18,881,784 | 2,940,837,858 | ||||
Merck & Co., Inc. | 19,897,260 | 2,048,422,917 | ||||
Organon & Co. | 2,001,756 | 34,750,484 | ||||
Pfizer, Inc. | 44,271,181 | 1,468,475,074 | ||||
Viatris, Inc. | 9,410,799 | 92,790,478 | ||||
Zoetis, Inc. (b) | 3,609,466 | 627,974,895 | ||||
11,586,829,811 | ||||||
TOTAL COMMON STOCKS (Cost $41,721,511,803) | 37,648,525,750 | |||||
SHORT-TERM INVESTMENTS — 0.2% | ||||||
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (c) (d) | 33,578,923 | 33,585,639 | ||||
State Street Navigator Securities Lending Portfolio II (e) (f) | 24,295,260 | 24,295,260 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $57,880,235) | 57,880,899 | |||||
TOTAL INVESTMENTS — 100.0% (Cost $41,779,392,038) | 37,706,406,649 | |||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.0)% (g) | (924,083) | |||||
NET ASSETS — 100.0% | $ 37,705,482,566 |
(a) | Non-income producing security. |
(b) | All or a portion of the shares of the security are on loan at September 30, 2023. |
(c) | 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. |
(d) | The rate shown is the annualized seven-day yield at September 30, 2023. |
(e) | 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. |
(f) | Investment of cash collateral for securities loaned. |
(g) | Amount is less than 0.05% of net assets. |
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||
ASSETS: | ||||||||
INVESTMENTS: | ||||||||
Common Stocks | $37,648,525,750 | $— | $— | $37,648,525,750 | ||||
Short-Term Investments | 57,880,899 | — | — | 57,880,899 | ||||
TOTAL INVESTMENTS | $37,706,406,649 | $— | $— | $37,706,406,649 |
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 | 40,926,004 | $ 40,934,189 | $1,000,876,821 | $1,008,225,474 | $4,616 | $(4,513) | 33,578,923 | $33,585,639 | $2,871,815 | ||||||||
State Street Navigator Securities Lending Portfolio II | 158,598,098 | 158,598,098 | 2,609,464,187 | 2,743,767,025 | — | — | 24,295,260 | 24,295,260 | 186,623 | ||||||||
Total | $199,532,287 | $3,610,341,008 | $3,751,992,499 | $4,616 | $(4,513) | $57,880,899 | $3,058,438 |
Security Description | Shares | Value | ||||
COMMON STOCKS — 99.9% | ||||||
AEROSPACE & DEFENSE — 18.5% | ||||||
Axon Enterprise, Inc. (a) | 338,959 | $ 67,449,451 | ||||
Boeing Co. (a) | 2,734,050 | 524,062,704 | ||||
General Dynamics Corp. | 1,093,958 | 241,731,899 | ||||
Howmet Aerospace, Inc. | 1,890,207 | 87,422,074 | ||||
Huntington Ingalls Industries, Inc. | 192,651 | 39,412,542 | ||||
L3Harris Technologies, Inc. | 912,903 | 158,954,670 | ||||
Lockheed Martin Corp. | 1,081,860 | 442,437,466 | ||||
Northrop Grumman Corp. | 686,447 | 302,167,105 | ||||
RTX Corp. | 7,025,768 | 505,644,523 | ||||
Textron, Inc. | 956,152 | 74,713,717 | ||||
TransDigm Group, Inc. (a) | 266,378 | 224,591,283 | ||||
2,668,587,434 | ||||||
AIR FREIGHT & LOGISTICS — 6.7% | ||||||
CH Robinson Worldwide, Inc. | 561,894 | 48,395,930 | ||||
Expeditors International of Washington, Inc. | 713,884 | 81,832,523 | ||||
FedEx Corp. | 1,116,955 | 295,903,718 | ||||
United Parcel Service, Inc. Class B | 3,491,303 | 544,189,399 | ||||
970,321,570 | ||||||
BUILDING PRODUCTS — 5.3% | ||||||
A O Smith Corp. | 605,631 | 40,050,378 | ||||
Allegion PLC | 424,794 | 44,263,535 | ||||
Carrier Global Corp. | 4,037,175 | 222,852,060 | ||||
Johnson Controls International PLC | 3,283,921 | 174,737,436 | ||||
Masco Corp. | 1,087,172 | 58,109,343 | ||||
Trane Technologies PLC | 1,102,850 | 223,779,294 | ||||
763,792,046 | ||||||
COMMERCIAL SERVICES & SUPPLIES — 5.9% | ||||||
Cintas Corp. | 417,440 | 200,792,814 | ||||
Copart, Inc. (a) | 4,194,304 | 180,732,559 | ||||
Republic Services, Inc. | 992,936 | 141,503,309 | ||||
Rollins, Inc. | 1,351,250 | 50,442,163 | ||||
Waste Management, Inc. | 1,779,201 | 271,221,401 | ||||
844,692,246 | ||||||
CONSTRUCTION & ENGINEERING — 0.9% | ||||||
Quanta Services, Inc. | 701,106 | 131,155,900 | ||||
ELECTRICAL EQUIPMENT — 7.2% | ||||||
AMETEK, Inc. | 1,114,674 | 164,704,230 | ||||
Eaton Corp. PLC | 1,927,336 | 411,062,222 | ||||
Emerson Electric Co. | 2,758,631 | 266,400,996 | ||||
Generac Holdings, Inc. (a) (b) | 301,554 | 32,857,324 | ||||
Rockwell Automation, Inc. | 554,436 | 158,496,619 | ||||
1,033,521,391 | ||||||
GROUND TRANSPORTATION — 9.5% | ||||||
CSX Corp. | 9,684,480 | 297,797,760 | ||||
JB Hunt Transport Services, Inc. (b) | 394,052 | 74,286,683 | ||||
Norfolk Southern Corp. | 1,095,760 | 215,788,017 | ||||
Old Dominion Freight Line, Inc. | 432,476 | 176,943,231 |
Security Description | Shares | Value | ||||
Union Pacific Corp. | 2,941,893 | $ 599,057,671 | ||||
1,363,873,362 | ||||||
INDUSTRIAL CONGLOMERATES — 9.9% | ||||||
3M Co. | 2,664,384 | 249,439,630 | ||||
General Electric Co. | 5,253,485 | 580,772,767 | ||||
Honeywell International, Inc. | 3,204,908 | 592,074,704 | ||||
1,422,287,101 | ||||||
MACHINERY — 21.5% | ||||||
Caterpillar, Inc. | 2,462,518 | 672,267,414 | ||||
Cummins, Inc. | 683,736 | 156,206,327 | ||||
Deere & Co. | 1,316,117 | 496,676,233 | ||||
Dover Corp. | 675,447 | 94,231,611 | ||||
Fortive Corp. | 1,699,228 | 126,014,748 | ||||
IDEX Corp. | 364,960 | 75,918,979 | ||||
Illinois Tool Works, Inc. | 1,328,317 | 305,924,688 | ||||
Ingersoll Rand, Inc. | 1,953,697 | 124,489,573 | ||||
Nordson Corp. (b) | 259,974 | 58,018,398 | ||||
Otis Worldwide Corp. | 1,987,545 | 159,619,739 | ||||
PACCAR, Inc. | 2,527,234 | 214,865,435 | ||||
Parker-Hannifin Corp. | 619,292 | 241,226,620 | ||||
Pentair PLC | 796,719 | 51,587,555 | ||||
Snap-on, Inc. | 255,656 | 65,207,619 | ||||
Stanley Black & Decker, Inc. | 739,493 | 61,806,825 | ||||
Westinghouse Air Brake Technologies Corp. | 864,676 | 91,889,119 | ||||
Xylem, Inc. | 1,155,562 | 105,190,809 | ||||
3,101,141,692 | ||||||
PASSENGER AIRLINES — 2.2% | ||||||
Alaska Air Group, Inc. (a) | 617,749 | 22,906,133 | ||||
American Airlines Group, Inc. (a) (b) | 3,153,046 | 40,390,519 | ||||
Delta Air Lines, Inc. | 3,103,901 | 114,844,337 | ||||
Southwest Airlines Co. (b) | 2,873,803 | 77,793,847 | ||||
United Airlines Holdings, Inc. (a) | 1,584,033 | 67,004,596 | ||||
322,939,432 | ||||||
PROFESSIONAL SERVICES — 8.4% | ||||||
Automatic Data Processing, Inc. | 1,988,597 | 478,416,666 | ||||
Broadridge Financial Solutions, Inc. | 569,899 | 102,040,416 | ||||
Equifax, Inc. | 592,425 | 108,520,411 | ||||
Jacobs Solutions, Inc. | 607,767 | 82,960,196 | ||||
Leidos Holdings, Inc. | 662,429 | 61,049,457 | ||||
Paychex, Inc. | 1,548,877 | 178,631,984 | ||||
Robert Half, Inc. | 520,360 | 38,131,981 | ||||
Verisk Analytics, Inc. | 700,307 | 165,440,526 | ||||
1,215,191,637 | ||||||
SOFTWARE — 0.8% | ||||||
Ceridian HCM Holding, Inc. (a) (b) | 748,860 | 50,810,151 | ||||
Paycom Software, Inc. | 237,781 | 61,649,480 | ||||
112,459,631 | ||||||
TRADING COMPANIES & DISTRIBUTORS — 3.1% | ||||||
Fastenal Co. | 2,757,808 | 150,686,629 |
Security Description | Shares | Value | ||||
United Rentals, Inc. | 329,612 | $ 146,535,607 | ||||
WW Grainger, Inc. | 214,788 | 148,598,930 | ||||
445,821,166 | ||||||
TOTAL COMMON STOCKS (Cost $16,688,720,962) | 14,395,784,608 | |||||
SHORT-TERM INVESTMENTS — 0.6% | ||||||
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (c) (d) | 6,430,670 | 6,431,956 | ||||
State Street Navigator Securities Lending Portfolio II (e) (f) | 76,756,877 | 76,756,877 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $83,188,829) | 83,188,833 | |||||
TOTAL INVESTMENTS — 100.5% (Cost $16,771,909,791) | 14,478,973,441 | |||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.5)% | (66,111,107) | |||||
NET ASSETS — 100.0% | $ 14,412,862,334 |
(a) | Non-income producing security. |
(b) | All or a portion of the shares of the security are on loan at September 30, 2023. |
(c) | 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. |
(d) | The rate shown is the annualized seven-day yield at September 30, 2023. |
(e) | 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. |
(f) | Investment of cash collateral for securities loaned. |
Description | Number of Contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation (Depreciation) | |||||
E-mini S&P 500 Industrial Select Sector Index (long) | 125 | 12/15/2023 | $13,418,250 | $12,877,087 | $(541,163) |
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||
ASSETS: | ||||||||
INVESTMENTS: | ||||||||
Common Stocks | $14,395,784,608 | $— | $— | $14,395,784,608 | ||||
Short-Term Investments | 83,188,833 | — | — | 83,188,833 | ||||
TOTAL INVESTMENTS | $14,478,973,441 | $— | $— | $14,478,973,441 | ||||
OTHER FINANCIAL INSTRUMENTS: | ||||||||
Futures Contracts - Unrealized Depreciation | $ (541,163) | $— | $— | $ (541,163) | ||||
TOTAL OTHER FINANCIAL INSTRUMENTS: | $ (541,163) | $— | $— | $ (541,163) |
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 | 17,536,831 | $ 17,540,339 | $ 359,937,537 | $ 371,047,177 | $4,144 | $(2,887) | 6,430,670 | $ 6,431,956 | $ 766,314 | ||||||||
State Street Navigator Securities Lending Portfolio II | 107,539,396 | 107,539,396 | 2,096,610,506 | 2,127,393,025 | — | — | 76,756,877 | 76,756,877 | 246,538 | ||||||||
Total | $125,079,735 | $2,456,548,043 | $2,498,440,202 | $4,144 | $(2,887) | $83,188,833 | $1,012,852 |
Security Description | Shares | Value | ||||
COMMON STOCKS — 99.7% | ||||||
CHEMICALS — 68.6% | ||||||
Air Products & Chemicals, Inc. | 1,244,187 | $ 352,602,596 | ||||
Albemarle Corp. (a) | 657,223 | 111,754,199 | ||||
Celanese Corp. (a) | 560,575 | 70,363,374 | ||||
CF Industries Holdings, Inc. | 1,080,679 | 92,657,417 | ||||
Corteva, Inc. | 3,975,285 | 203,375,581 | ||||
Dow, Inc. | 3,937,843 | 203,035,185 | ||||
DuPont de Nemours, Inc. | 2,571,139 | 191,781,258 | ||||
Eastman Chemical Co. | 663,974 | 50,940,085 | ||||
Ecolab, Inc. | 1,420,824 | 240,687,586 | ||||
FMC Corp. | 698,580 | 46,783,903 | ||||
International Flavors & Fragrances, Inc. | 1,429,631 | 97,457,945 | ||||
Linde PLC | 2,732,954 | 1,017,615,422 | ||||
LyondellBasell Industries NV Class A | 1,434,476 | 135,844,877 | ||||
Mosaic Co. | 1,860,998 | 66,251,529 | ||||
PPG Industries, Inc. | 1,319,105 | 171,219,829 | ||||
Sherwin-Williams Co. | 1,325,072 | 337,959,613 | ||||
3,390,330,399 | ||||||
CONSTRUCTION MATERIALS — 5.9% | ||||||
Martin Marietta Materials, Inc. | 346,117 | 142,074,106 | ||||
Vulcan Materials Co. | 744,185 | 150,340,254 | ||||
292,414,360 | ||||||
CONTAINERS & PACKAGING — 9.5% | ||||||
Amcor PLC | 8,241,334 | 75,490,619 | ||||
Avery Dennison Corp. | 451,286 | 82,436,414 | ||||
Ball Corp. | 1,764,590 | 87,841,290 | ||||
International Paper Co. | 1,937,921 | 68,738,058 | ||||
Packaging Corp. of America | 503,630 | 77,332,387 | ||||
Sealed Air Corp. | 808,707 | 26,574,112 | ||||
Westrock Co. | 1,435,375 | 51,386,425 | ||||
469,799,305 |
Security Description | Shares | Value | ||||
METALS & MINING — 15.7% | ||||||
Freeport-McMoRan, Inc. | 8,029,572 | $ 299,422,740 | ||||
Newmont Corp. | 4,451,213 | 164,472,320 | ||||
Nucor Corp. | 1,393,081 | 217,808,214 | ||||
Steel Dynamics, Inc. | 872,070 | 93,503,346 | ||||
775,206,620 | ||||||
TOTAL COMMON STOCKS (Cost $6,049,034,943) | 4,927,750,684 | |||||
SHORT-TERM INVESTMENTS — 0.9% | ||||||
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (b) (c) | 9,052,582 | 9,054,393 | ||||
State Street Navigator Securities Lending Portfolio II (d) (e) | 33,329,188 | 33,329,188 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $42,383,557) | 42,383,581 | |||||
TOTAL INVESTMENTS — 100.6% (Cost $6,091,418,500) | 4,970,134,265 | |||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.6)% | (27,526,703) | |||||
NET ASSETS — 100.0% | $ 4,942,607,562 |
(a) | All or a portion of the shares of the security are on loan at September 30, 2023. |
(b) | 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. |
(c) | The rate shown is the annualized seven-day yield at September 30, 2023. |
(d) | 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. |
(e) | Investment of cash collateral for securities loaned. |
Description | Number of Contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation (Depreciation) | |||||
E-mini S&P 500 Material Select Sector Index (long) | 160 | 12/15/2023 | $13,981,328 | $13,435,200 | $(546,128) |
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||
ASSETS: | ||||||||
INVESTMENTS: | ||||||||
Common Stocks | $4,927,750,684 | $— | $— | $4,927,750,684 | ||||
Short-Term Investments | 42,383,581 | — | — | 42,383,581 | ||||
TOTAL INVESTMENTS | $4,970,134,265 | $— | $— | $4,970,134,265 | ||||
OTHER FINANCIAL INSTRUMENTS: | ||||||||
Futures Contracts - Unrealized Depreciation | $ (546,128) | $— | $— | $ (546,128) | ||||
TOTAL OTHER FINANCIAL INSTRUMENTS: | $ (546,128) | $— | $— | $ (546,128) |
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 | 3,340,392 | $3,341,060 | $ 173,553,765 | $ 167,841,196 | $1,026 | $(262) | 9,052,582 | $ 9,054,393 | $439,502 | ||||||||
State Street Navigator Securities Lending Portfolio II | — | — | 1,141,444,458 | 1,108,115,270 | — | — | 33,329,188 | 33,329,188 | 132,049 | ||||||||
Total | $3,341,060 | $1,314,998,223 | $1,275,956,466 | $1,026 | $(262) | $42,383,581 | $571,551 |
Security Description | Shares | Value | ||||
COMMON STOCKS — 99.6% | ||||||
HEALTH CARE REITs — 8.1% | ||||||
Healthpeak Properties, Inc. REIT | 2,616,508 | $ 48,039,087 | ||||
Ventas, Inc. REIT | 1,924,528 | 81,080,365 | ||||
Welltower, Inc. REIT | 2,480,986 | 203,242,373 | ||||
332,361,825 | ||||||
HOTEL & RESORT REITs — 1.3% | ||||||
Host Hotels & Resorts, Inc. REIT | 3,403,492 | 54,694,117 | ||||
INDUSTRIAL REITs — 12.1% | ||||||
Prologis, Inc. REIT | 4,418,640 | 495,815,594 | ||||
OFFICE REITs — 2.8% | ||||||
Alexandria Real Estate Equities, Inc. REIT | 744,822 | 74,556,682 | ||||
Boston Properties, Inc. REIT | 688,873 | 40,974,166 | ||||
115,530,848 | ||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 6.4% | ||||||
CBRE Group, Inc. Class A (a) | 1,481,912 | 109,454,020 | ||||
CoStar Group, Inc. (a) | 1,953,003 | 150,166,401 | ||||
259,620,421 | ||||||
RESIDENTIAL REITs — 13.1% | ||||||
AvalonBay Communities, Inc. REIT | 679,259 | 116,655,941 | ||||
Camden Property Trust REIT | 510,652 | 48,297,466 | ||||
Equity Residential REIT | 1,649,742 | 96,856,353 | ||||
Essex Property Trust, Inc. REIT | 307,009 | 65,113,539 | ||||
Invitation Homes, Inc. REIT | 2,751,310 | 87,189,014 | ||||
Mid-America Apartment Communities, Inc. REIT | 558,007 | 71,787,600 | ||||
UDR, Inc. REIT | 1,449,731 | 51,711,905 | ||||
537,611,818 | ||||||
RETAIL REITs — 11.5% | ||||||
Federal Realty Investment Trust REIT | 349,627 | 31,686,695 | ||||
Kimco Realty Corp. REIT | 2,964,796 | 52,150,761 | ||||
Realty Income Corp. REIT | 3,390,037 | 169,298,448 | ||||
Regency Centers Corp. REIT | 783,081 | 46,546,335 |
Security Description | Shares | Value | ||||
Simon Property Group, Inc. REIT | 1,564,905 | $ 169,056,687 | ||||
468,738,926 | ||||||
SPECIALIZED REITs — 44.3% | ||||||
American Tower Corp. REIT | 2,229,544 | 366,648,511 | ||||
Crown Castle, Inc. REIT | 2,074,255 | 190,893,688 | ||||
Digital Realty Trust, Inc. REIT | 1,447,800 | 175,212,756 | ||||
Equinix, Inc. REIT | 447,554 | 325,040,568 | ||||
Extra Space Storage, Inc. REIT | 1,010,476 | 122,853,672 | ||||
Iron Mountain, Inc. REIT | 1,395,859 | 82,983,817 | ||||
Public Storage REIT | 756,836 | 199,441,423 | ||||
SBA Communications Corp. REIT | 518,384 | 103,764,925 | ||||
VICI Properties, Inc. REIT | 4,847,080 | 141,050,028 | ||||
Weyerhaeuser Co. REIT | 3,495,044 | 107,158,049 | ||||
1,815,047,437 | ||||||
TOTAL COMMON STOCKS (Cost $5,540,890,540) | 4,079,420,986 | |||||
SHORT-TERM INVESTMENT — 0.4% | ||||||
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (b) (c) (Cost $15,670,291) | 15,667,169 | 15,670,302 | ||||
TOTAL INVESTMENTS — 100.0% (Cost $5,556,560,831) | 4,095,091,288 | |||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.0)% (d) | (1,751,922) | |||||
NET ASSETS — 100.0% | $ 4,093,339,366 |
(a) | Non-income producing security. |
(b) | 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. |
(c) | The rate shown is the annualized seven-day yield at September 30, 2023. |
(d) | Amount is less than 0.05% of net assets. |
REIT | Real Estate Investment Trust |
Description | Number of Contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation (Depreciation) | |||||
E-mini S&P 500 Real Estate Select Sector Index (long) | 325 | 12/15/2023 | $14,161,313 | $13,661,115 | $(500,198) |
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||
ASSETS: | ||||||||
INVESTMENTS: | ||||||||
Common Stocks | $4,079,420,986 | $— | $— | $4,079,420,986 | ||||
Short-Term Investment | 15,670,302 | — | — | 15,670,302 | ||||
TOTAL INVESTMENTS | $4,095,091,288 | $— | $— | $4,095,091,288 | ||||
OTHER FINANCIAL INSTRUMENTS: | ||||||||
Futures Contracts - Unrealized Depreciation | $ (500,198) | $— | $— | $ (500,198) | ||||
TOTAL OTHER FINANCIAL INSTRUMENTS: | $ (500,198) | $— | $— | $ (500,198) |
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 | 14,197,398 | $14,200,238 | $281,808,969 | $280,337,416 | $(1,500) | $11 | 15,667,169 | $15,670,302 | $254,712 | ||||||||
State Street Navigator Securities Lending Portfolio II | — | — | 24,048,101 | 24,048,101 | — | — | — | — | — | ||||||||
Total | $14,200,238 | $305,857,070 | $304,385,517 | $(1,500) | $11 | $15,670,302 | $254,712 |
Security Description | Shares | Value | ||||
COMMON STOCKS — 99.9% | ||||||
COMMUNICATIONS EQUIPMENT — 4.1% | ||||||
Arista Networks, Inc. (a) | 1,496,130 | $ 275,183,191 | ||||
Cisco Systems, Inc. | 24,313,213 | 1,307,078,331 | ||||
F5, Inc. (a) | 353,813 | 57,013,427 | ||||
Juniper Networks, Inc. | 1,917,328 | 53,282,545 | ||||
Motorola Solutions, Inc. | 996,448 | 271,273,003 | ||||
1,963,830,497 | ||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 2.6% | ||||||
Amphenol Corp. Class A | 3,558,634 | 298,889,670 | ||||
CDW Corp. | 799,823 | 161,372,288 | ||||
Corning, Inc. | 4,580,294 | 139,561,558 | ||||
Keysight Technologies, Inc. (a) | 1,064,184 | 140,802,185 | ||||
TE Connectivity Ltd. | 1,873,062 | 231,379,349 | ||||
Teledyne Technologies, Inc. (a) | 280,891 | 114,766,445 | ||||
Trimble, Inc. (a) | 1,481,622 | 79,800,161 | ||||
Zebra Technologies Corp. Class A (a) | 306,267 | 72,441,334 | ||||
1,239,012,990 | ||||||
IT SERVICES — 5.5% | ||||||
Accenture PLC Class A | 3,763,524 | 1,155,815,856 | ||||
Akamai Technologies, Inc. (a) | 906,852 | 96,616,012 | ||||
Cognizant Technology Solutions Corp. Class A | 3,013,235 | 204,116,539 | ||||
DXC Technology Co. (a) (b) | 1,224,127 | 25,498,565 | ||||
EPAM Systems, Inc. (a) | 345,785 | 88,413,767 | ||||
Gartner, Inc. (a) | 470,337 | 161,612,496 | ||||
International Business Machines Corp. | 5,435,344 | 762,578,763 | ||||
VeriSign, Inc. (a) | 535,388 | 108,432,132 | ||||
2,603,084,130 | ||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 24.4% | ||||||
Advanced Micro Devices, Inc. (a) | 9,639,707 | 991,154,674 | ||||
Analog Devices, Inc. | 2,991,588 | 523,797,143 | ||||
Applied Materials, Inc. | 5,010,234 | 693,666,897 | ||||
Broadcom, Inc. | 2,462,191 | 2,045,046,601 | ||||
Enphase Energy, Inc. (a) (b) | 813,560 | 97,749,234 | ||||
First Solar, Inc. (a) | 637,377 | 102,993,750 | ||||
Intel Corp. | 24,987,128 | 888,292,400 | ||||
KLA Corp. | 815,724 | 374,139,970 | ||||
Lam Research Corp. | 795,334 | 498,491,491 | ||||
Microchip Technology, Inc. | 3,247,645 | 253,478,692 | ||||
Micron Technology, Inc. | 6,534,969 | 444,573,941 | ||||
Monolithic Power Systems, Inc. | 285,095 | 131,713,890 | ||||
NVIDIA Corp. | 4,939,309 | 2,148,550,022 | ||||
NXP Semiconductors NV | 1,538,137 | 307,504,349 | ||||
ON Semiconductor Corp. (a) (b) | 2,574,636 | 239,312,416 | ||||
Qorvo, Inc. (a) | 584,185 | 55,772,142 | ||||
QUALCOMM, Inc. | 6,658,444 | 739,486,791 | ||||
Skyworks Solutions, Inc. | 950,982 | 93,757,315 | ||||
SolarEdge Technologies, Inc. (a) (b) | 337,427 | 43,700,171 |
Security Description | Shares | Value | ||||
Teradyne, Inc. | 918,942 | $ 92,316,913 | ||||
Texas Instruments, Inc. | 5,417,267 | 861,399,626 | ||||
11,626,898,428 | ||||||
SOFTWARE — 38.9% | ||||||
Adobe, Inc. (a) | 2,719,457 | 1,386,651,124 | ||||
ANSYS, Inc. (a) | 517,787 | 154,067,522 | ||||
Autodesk, Inc. (a) | 1,275,114 | 263,833,838 | ||||
Cadence Design Systems, Inc. (a) | 1,621,580 | 379,936,194 | ||||
Fair Isaac Corp. (a) | 148,317 | 128,817,764 | ||||
Fortinet, Inc. (a) | 3,889,090 | 228,211,801 | ||||
Gen Digital, Inc. | 3,357,283 | 59,356,763 | ||||
Intuit, Inc. | 1,670,944 | 853,752,127 | ||||
Microsoft Corp. | 34,417,521 | 10,867,332,256 | ||||
Oracle Corp. | 9,392,658 | 994,870,335 | ||||
Palo Alto Networks, Inc. (a) | 1,824,797 | 427,805,409 | ||||
PTC, Inc. (a) | 708,977 | 100,447,861 | ||||
Roper Technologies, Inc. | 636,657 | 308,320,252 | ||||
Salesforce, Inc. (a) | 5,811,265 | 1,178,408,317 | ||||
ServiceNow, Inc. (a) | 1,217,159 | 680,343,195 | ||||
Synopsys, Inc. (a) | 907,886 | 416,692,437 | ||||
Tyler Technologies, Inc. (a) | 251,047 | 96,939,289 | ||||
18,525,786,484 | ||||||
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS — 24.4% | ||||||
Apple, Inc. | 64,568,089 | 11,054,702,518 | ||||
Hewlett Packard Enterprise Co. | 7,705,703 | 133,848,061 | ||||
HP, Inc. | 5,176,644 | 133,039,751 | ||||
NetApp, Inc. | 1,257,806 | 95,442,319 | ||||
Seagate Technology Holdings PLC (b) | 1,150,752 | 75,892,095 | ||||
Western Digital Corp. (a) | 1,908,851 | 87,100,871 | ||||
11,580,025,615 | ||||||
TOTAL COMMON STOCKS (Cost $43,684,482,369) | 47,538,638,144 | |||||
SHORT-TERM INVESTMENTS — 0.2% | ||||||
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (c) (d) | 60,139,808 | 60,151,836 | ||||
State Street Navigator Securities Lending Portfolio II (e) (f) | 23,763,431 | 23,763,431 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $83,907,272) | 83,915,267 | |||||
TOTAL INVESTMENTS — 100.1% (Cost $43,768,389,641) | 47,622,553,411 | |||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.1)% | (35,124,605) | |||||
NET ASSETS — 100.0% | $ 47,587,428,806 |
(a) | Non-income producing security. |
(b) | All or a portion of the shares of the security are on loan at September 30, 2023. |
(c) | 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. |
(d) | The rate shown is the annualized seven-day yield at September 30, 2023. |
(e) | 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. |
(f) | Investment of cash collateral for securities loaned. |
Description | Number of Contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation (Depreciation) | |||||
E-mini S&P 500 Technology Select Sector Index (long) | 330 | 12/15/2023 | $58,160,850 | $55,056,111 | $(3,104,739) |
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||
ASSETS: | ||||||||
INVESTMENTS: | ||||||||
Common Stocks | $47,538,638,144 | $— | $— | $47,538,638,144 | ||||
Short-Term Investments | 83,915,267 | — | — | 83,915,267 | ||||
TOTAL INVESTMENTS | $47,622,553,411 | $— | $— | $47,622,553,411 | ||||
OTHER FINANCIAL INSTRUMENTS: | ||||||||
Futures Contracts - Unrealized Depreciation | $ (3,104,739) | $— | $— | $ (3,104,739) | ||||
TOTAL OTHER FINANCIAL INSTRUMENTS: | $ (3,104,739) | $— | $— | $ (3,104,739) |
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 | 60,823,039 | $ 60,835,203 | $ 740,444,521 | $ 741,112,450 | $(6,990) | $(8,448) | 60,139,808 | $60,151,836 | $3,038,190 | ||||||||
State Street Navigator Securities Lending Portfolio II | 94,660,055 | 94,660,055 | 3,728,869,178 | 3,799,765,802 | — | — | 23,763,431 | 23,763,431 | 541,597 | ||||||||
Total | $155,495,258 | $4,469,313,699 | $4,540,878,252 | $(6,990) | $(8,448) | $83,915,267 | $3,579,787 |
Security Description | Shares | Value | ||||
COMMON STOCKS — 99.7% | ||||||
ELECTRIC UTILITIES — 65.7% | ||||||
Alliant Energy Corp. (a) | 3,829,771 | $ 185,552,405 | ||||
American Electric Power Co., Inc. (a) | �� | 7,807,102 | 587,250,213 | |||
Constellation Energy Corp. | 4,873,500 | 531,601,380 | ||||
Duke Energy Corp. | 11,679,405 | 1,030,824,285 | ||||
Edison International | 5,808,390 | 367,613,003 | ||||
Entergy Corp. (a) | 3,204,444 | 296,411,070 | ||||
Evergy, Inc. | 3,480,928 | 176,483,050 | ||||
Eversource Energy | 5,290,082 | 307,618,268 | ||||
Exelon Corp. | 15,081,728 | 569,938,501 | ||||
FirstEnergy Corp. | 7,819,935 | 267,285,378 | ||||
NextEra Energy, Inc. | 30,667,760 | 1,756,955,970 | ||||
NRG Energy, Inc. (a) | 3,472,040 | 133,742,981 | ||||
PG&E Corp. (b) | 31,691,057 | 511,176,749 | ||||
Pinnacle West Capital Corp. (a) | 1,717,155 | 126,519,980 | ||||
PPL Corp. (a) | 11,170,017 | 263,165,601 | ||||
Southern Co. | 16,526,386 | 1,069,587,702 | ||||
Xcel Energy, Inc. | 8,358,053 | 478,247,793 | ||||
8,659,974,329 | ||||||
GAS UTILITIES — 1.8% | ||||||
Atmos Energy Corp. (a) | 2,249,849 | 238,326,505 | ||||
INDEPENDENT POWER & RENEWABLE ELECTRICITY PRODUCERS — 1.1% | ||||||
AES Corp. (a) | 10,147,656 | 154,244,371 | ||||
MULTI-UTILITIES — 28.3% | ||||||
Ameren Corp. | 3,981,742 | 297,953,754 | ||||
CenterPoint Energy, Inc. (a) | 9,565,080 | 256,822,398 | ||||
CMS Energy Corp. (a) | 4,420,904 | 234,794,211 | ||||
Consolidated Edison, Inc. (a) | 5,226,986 | 447,064,113 | ||||
Dominion Energy, Inc. | 12,680,644 | 566,444,368 | ||||
DTE Energy Co. (a) | 3,124,455 | 310,195,892 | ||||
NiSource, Inc. | 6,262,517 | 154,558,920 | ||||
Public Service Enterprise Group, Inc. | 7,563,617 | 430,445,443 |
Security Description | Shares | Value | ||||
Sempra | 9,536,643 | $ 648,777,823 | ||||
WEC Energy Group, Inc. | 4,780,145 | 385,040,680 | ||||
3,732,097,602 | ||||||
WATER UTILITIES — 2.8% | ||||||
American Water Works Co., Inc. (a) | 2,950,087 | 365,309,273 | ||||
TOTAL COMMON STOCKS (Cost $16,655,077,351) | 13,149,952,080 | |||||
SHORT-TERM INVESTMENTS — 0.3% | ||||||
State Street Institutional Liquid Reserves Fund, Premier Class 5.45% (c) (d) | 31,702,123 | 31,708,463 | ||||
State Street Navigator Securities Lending Portfolio II (e) (f) | 7,244,850 | 7,244,850 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $38,952,535) | 38,953,313 | |||||
TOTAL INVESTMENTS — 100.0% (Cost $16,694,029,886) | 13,188,905,393 | |||||
LIABILITIES IN EXCESS OF OTHER ASSETS — (0.0)% (g) | (2,468,916) | |||||
NET ASSETS — 100.0% | $ 13,186,436,477 |
(a) | All or a portion of the shares of the security are on loan at September 30, 2023. |
(b) | Non-income producing security. |
(c) | 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. |
(d) | The rate shown is the annualized seven-day yield at September 30, 2023. |
(e) | 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. |
(f) | Investment of cash collateral for securities loaned. |
(g) | Amount is less than 0.05% of net assets. |
Description | Level 1 – Quoted Prices | Level 2 – Other Significant Observable Inputs | Level 3 – Significant Unobservable Inputs | Total | ||||
ASSETS: | ||||||||
INVESTMENTS: | ||||||||
Common Stocks | $13,149,952,080 | $— | $— | $13,149,952,080 | ||||
Short-Term Investments | 38,953,313 | — | — | 38,953,313 | ||||
TOTAL INVESTMENTS | $13,188,905,393 | $— | $— | $13,188,905,393 |
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 | 27,297,775 | $ 27,303,235 | $ 772,758,386 | $ 768,352,739 | $2,330 | $(2,749) | 31,702,123 | $31,708,463 | $1,247,383 | ||||||||
State Street Navigator Securities Lending Portfolio II | 92,621,035 | 92,621,035 | 2,087,835,852 | 2,173,212,037 | — | — | 7,244,850 | 7,244,850 | 179,823 | ||||||||
Total | $119,924,270 | $2,860,594,238 | $2,941,564,776 | $2,330 | $(2,749) | $38,953,313 | $1,427,206 |
The Communication Services Select Sector SPDR Fund | The Consumer Discretionary Select Sector SPDR Fund | The Consumer Staples Select Sector SPDR Fund | |||
ASSETS | |||||
Investments in unaffiliated issuers, at value* | $13,104,203,054 | $17,425,411,253 | $16,145,533,437 | ||
Investments in affiliated issuers, at value | 4,699,733 | 36,189,268 | 21,836,237 | ||
Total Investments | 13,108,902,787 | 17,461,600,521 | 16,167,369,674 | ||
Foreign currency, at value | — | — | — | ||
Net cash at broker | — | — | — | ||
Cash | — | 731,630 | — | ||
Receivable for income related to Select Sector SPDR shares in-kind transactions | 34 | 32,344 | — | ||
Dividends receivable — unaffiliated issuers | 3,246,108 | 4,467,948 | 46,407,949 | ||
Dividends receivable — affiliated issuers | 55,363 | 75,319 | 123,027 | ||
Securities lending income receivable — unaffiliated issuers | 268 | 8,825 | 4,234 | ||
Securities lending income receivable — affiliated issuers | — | 26,912 | 1,218 | ||
Receivable for foreign taxes recoverable | — | — | — | ||
Prepaid expenses and other assets | 31,017 | 36,285 | 33,385 | ||
TOTAL ASSETS | 13,112,235,577 | 17,466,979,784 | 16,213,939,487 | ||
LIABILITIES | |||||
Due to custodian | — | — | 399 | ||
Payable upon return of securities loaned | — | 32,385,839 | 5,240,094 | ||
Payable for investments purchased | — | — | — | ||
Payable for income related to Select Sector SPDR shares in-kind transactions | — | — | 28,161 | ||
Payable to broker – accumulated variation margin on open futures contracts | — | — | — | ||
Advisory and Administration fees payable | 379,669 | 527,409 | 482,074 | ||
Distribution fees payable | 330,531 | 432,793 | 431,232 | ||
Unitary fees payable | 106,144 | 78,719 | 132,699 | ||
Trustees’ fees and expenses payable | 3,819 | 6,164 | 5,989 | ||
License fee payable | 844,408 | 1,057,102 | 1,053,765 | ||
Registration and filing fees payable | 23,202 | 34,136 | 40,270 | ||
Professional fees payable | 58,436 | 70,445 | 75,924 | ||
Printing and postage fees payable | 168,965 | 273,151 | 212,966 | ||
Accrued expenses and other liabilities | 3,576 | 3,810 | 2,602 | ||
TOTAL LIABILITIES | 1,918,750 | 34,869,568 | 7,706,175 | ||
NET ASSETS | $13,110,316,827 | $17,432,110,216 | $16,206,233,312 | ||
NET ASSETS CONSIST OF: | |||||
Paid-in capital | $15,879,042,156 | $22,857,412,358 | $20,197,645,835 | ||
Total distributable earnings (loss) | (2,768,725,329) | (5,425,302,142) | (3,991,412,523) | ||
NET ASSETS | $13,110,316,827 | $17,432,110,216 | $16,206,233,312 | ||
NET ASSET VALUE PER SHARE | |||||
Net asset value per share | $ 65.58 | $ 160.96 | $ 68.81 | ||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 199,900,000 | 108,303,252 | 235,521,809 | ||
COST OF INVESTMENTS: | |||||
Investments in unaffiliated issuers | $13,823,439,127 | $19,249,538,579 | $18,487,903,448 | ||
Investments in affiliated issuers | 4,699,324 | 36,189,238 | 21,836,237 | ||
Total cost of investments | $13,828,138,451 | $19,285,727,817 | $18,509,739,685 | ||
Foreign currency, at cost | $ — | $ — | $ — | ||
* Includes investments in securities on loan, at value | $ 302,376 | $ 96,691,101 | $ 5,405,248 |
The Energy Select Sector SPDR Fund | The Financial Select Sector SPDR Fund | The Health Care Select Sector SPDR Fund | The Industrial Select Sector SPDR Fund | The Materials Select Sector SPDR Fund | The Real Estate Select Sector SPDR Fund | The Technology Select Sector SPDR Fund | ||||||
$38,973,323,513 | $30,395,918,830 | $37,648,525,750 | $14,395,784,608 | $ 4,927,750,684 | $ 4,079,420,986 | $47,538,638,144 | ||||||
70,627,101 | 667,573,721 | 57,880,899 | 83,188,833 | 42,383,581 | 15,670,302 | 83,915,267 | ||||||
39,043,950,614 | 31,063,492,551 | 37,706,406,649 | 14,478,973,441 | 4,970,134,265 | 4,095,091,288 | 47,622,553,411 | ||||||
— | 1,542 | — | — | — | — | — | ||||||
4,911,391 | — | — | 1,123,201 | 1,420,785 | 2,101,721 | 6,416,803 | ||||||
11,355 | 1,611,813 | 1,286 | 1,371,563 | 149,237 | 802 | 1,308,225 | ||||||
— | — | — | 2,106 | — | 12,673 | 1,751 | ||||||
20,746,418 | 21,075,988 | 28,623,252 | 10,704,587 | 7,293,413 | 11,247,710 | 8,091,280 | ||||||
426,120 | 310,552 | 373,129 | 108,718 | 38,057 | 31,428 | 219,778 | ||||||
1,538 | 8,062 | 249 | 384 | 3,285 | — | — | ||||||
7,738 | 124,147 | 7,730 | 14,617 | 14,715 | — | 9,051 | ||||||
— | — | — | — | — | 280,832 | — | ||||||
62,527 | 71,156 | 74,872 | 33,515 | 12,253 | 7,600 | 106,142 | ||||||
39,070,117,701 | 31,086,695,811 | 37,735,487,167 | 14,492,332,132 | 4,979,066,010 | 4,108,774,054 | 47,638,706,441 | ||||||
— | — | — | — | — | — | — | ||||||
14,004,048 | 483,314,119 | 24,295,260 | 76,756,877 | 33,329,188 | — | 23,763,431 | ||||||
— | — | — | — | 1,736,140 | 14,286,714 | 17,445,254 | ||||||
9,994,715 | 205,492 | 29,623 | — | 31,903 | — | — | ||||||
1,100,840 | — | — | 540,750 | 545,600 | 499,125 | 3,103,650 | ||||||
1,069,655 | 948,786 | 1,106,942 | 438,402 | 142,163 | 114,425 | 1,368,913 | ||||||
971,405 | 814,533 | 1,003,705 | 374,976 | 141,238 | 113,367 | 1,209,401 | ||||||
377,018 | 311,441 | 383,708 | 91,697 | 4,736 | 3,239 | 494,839 | ||||||
14,522 | 13,829 | 14,514 | 5,528 | 2,531 | 2,040 | 16,028 | ||||||
2,223,835 | 2,021,579 | 2,427,624 | 934,682 | 353,270 | 274,871 | 3,008,436 | ||||||
91,134 | 73,711 | 94,446 | 32,142 | 13,148 | 11,191 | 98,944 | ||||||
129,786 | 110,646 | 127,716 | 68,638 | 50,689 | 48,735 | 129,364 | ||||||
488,793 | 569,060 | 518,618 | 222,458 | 104,494 | 78,034 | 635,940 | ||||||
1,839 | 3,314 | 2,445 | 3,648 | 3,348 | 2,947 | 3,435 | ||||||
30,467,590 | 488,386,510 | 30,004,601 | 79,469,798 | 36,458,448 | 15,434,688 | 51,277,635 | ||||||
$39,039,650,111 | $30,598,309,301 | $37,705,482,566 | $14,412,862,334 | $ 4,942,607,562 | $ 4,093,339,366 | $47,587,428,806 | ||||||
$44,162,366,265 | $38,982,903,225 | $42,987,822,430 | $17,816,339,987 | $ 7,049,029,805 | $ 5,863,234,915 | $46,692,736,901 | ||||||
(5,122,716,154) | (8,384,593,924) | (5,282,339,864) | (3,403,477,653) | (2,106,422,243) | (1,769,895,549) | 894,691,905 | ||||||
$39,039,650,111 | $30,598,309,301 | $37,705,482,566 | $14,412,862,334 | $ 4,942,607,562 | $ 4,093,339,366 | $47,587,428,806 | ||||||
$ 90.40 | $ 33.17 | $ 128.72 | $ 101.34 | $ 78.55 | $ 34.07 | $ 163.89 | ||||||
431,874,200 | 922,395,427 | 292,915,324 | 142,226,000 | 62,923,725 | 120,150,000 | 290,355,897 | ||||||
$36,008,692,769 | $34,407,735,009 | $41,721,511,803 | $16,688,720,962 | $ 6,049,034,943 | $ 5,540,890,540 | $43,684,482,369 | ||||||
70,627,024 | 725,888,560 | 57,880,235 | 83,188,829 | 42,383,557 | 15,670,291 | 83,907,272 | ||||||
$36,079,319,793 | $35,133,623,569 | $41,779,392,038 | $16,771,909,791 | $ 6,091,418,500 | $ 5,556,560,831 | $43,768,389,641 | ||||||
$ — | $ 1,542 | $ — | $ — | $ — | $ — | $ — | ||||||
$ 37,091,364 | $ 470,009,138 | $ 26,779,881 | $ 76,624,257 | $ 76,117,401 | $ — | $ 29,796,589 |
The Utilities Select Sector SPDR Fund | |
ASSETS | |
Investments in unaffiliated issuers, at value* | $13,149,952,080 |
Investments in affiliated issuers, at value | 38,953,313 |
Total Investments | 13,188,905,393 |
Cash | 6,303,580 |
Dividends receivable — unaffiliated issuers | 20,528,276 |
Dividends receivable — affiliated issuers | 159,208 |
Securities lending income receivable — unaffiliated issuers | 222 |
Securities lending income receivable — affiliated issuers | 1,983 |
Prepaid expenses and other assets | 27,240 |
TOTAL ASSETS | 13,215,925,902 |
LIABILITIES | |
Payable upon return of securities loaned | 7,244,850 |
Payable for investments purchased | 20,084,038 |
Payable for income related to Select Sector SPDR shares in-kind transactions | 31,991 |
Advisory and Administration fees payable | 415,389 |
Distribution fees payable | 375,212 |
Unitary fees payable | 103,359 |
Trustees’ fees and expenses payable | 5,741 |
License fee payable | 902,072 |
Registration and filing fees payable | 37,095 |
Professional fees payable | 72,989 |
Printing and postage fees payable | 213,912 |
Accrued expenses and other liabilities | 2,777 |
TOTAL LIABILITIES | 29,489,425 |
NET ASSETS | $13,186,436,477 |
NET ASSETS CONSIST OF: | |
Paid-in capital | $17,685,945,191 |
Total distributable earnings (loss) | (4,499,508,714) |
NET ASSETS | $13,186,436,477 |
NET ASSET VALUE PER SHARE | |
Net asset value per share | $ 58.94 |
Shares outstanding (unlimited amount authorized, $0.01 par value) | 223,724,160 |
COST OF INVESTMENTS: | |
Investments in unaffiliated issuers | $16,655,077,351 |
Investments in affiliated issuers | 38,952,535 |
Total cost of investments | $16,694,029,886 |
* Includes investments in securities on loan, at value | $ 7,096,391 |
The Communication Services Select Sector SPDR Fund | The Consumer Discretionary Select Sector SPDR Fund | The Consumer Staples Select Sector SPDR Fund | |||
INVESTMENT INCOME | |||||
Dividend income — unaffiliated issuers | 107,831,070 | $ 155,405,613 | $ 456,204,119 | ||
Dividend income — affiliated issuers | 352,165 | 794,998 | 1,361,950 | ||
Unaffiliated securities lending income | 14,039 | 79,967 | 22,602 | ||
Affiliated securities lending income | 54,022 | 294,123 | 105,107 | ||
Foreign taxes withheld | — | — | — | ||
TOTAL INVESTMENT INCOME (LOSS) | 108,251,296 | 156,574,701 | 457,693,778 | ||
EXPENSES | |||||
Advisory and Administration fees | 3,339,235 | 4,714,163 | 5,352,669 | ||
Distribution fees | 2,104,037 | 2,968,028 | 3,462,176 | ||
License fees | 2,687,605 | 3,826,273 | 4,351,496 | ||
Unitary fees | 839,162 | 1,186,294 | 1,347,930 | ||
Trustees’ fees and expenses | 107,431 | 165,189 | 186,850 | ||
Registration and filing fees | 2,955 | 2,310 | 25,432 | ||
Professional fees | 46,304 | 56,824 | 77,827 | ||
Printing and postage fees | 508,710 | 729,872 | 903,621 | ||
Insurance expense | 29,557 | 47,240 | 62,682 | ||
Miscellaneous expenses | 48,471 | 68,620 | 57,180 | ||
TOTAL EXPENSES | 9,713,467 | 13,764,813 | 15,827,863 | ||
NET INVESTMENT INCOME (LOSS) | $ 98,537,829 | $ 142,809,888 | $ 441,865,915 | ||
REALIZED AND UNREALIZED GAIN (LOSS) | |||||
Net realized gain (loss) on: | |||||
Investments — unaffiliated issuers | (1,086,017,296) | (1,102,594,477) | (440,014,325) | ||
Investments — affiliated issuers | (141) | 3,832 | 711 | ||
In-kind redemptions — unaffiliated issuers | 772,960,779 | 945,498,614 | 478,828,415 | ||
In-kind redemptions — affiliated issuers | — | — | — | ||
Futures contracts | — | — | — | ||
Net realized gain (loss) | (313,056,658) | (157,092,031) | 38,814,801 | ||
Net change in unrealized appreciation/depreciation on: | |||||
Investments — unaffiliated issuers | 3,465,421,591 | 1,874,124,354 | 234,189,965 | ||
Investments — affiliated issuers | (566) | (2,341) | (507) | ||
Futures contracts | — | — | — | ||
Net change in unrealized appreciation/depreciation | 3,465,421,025 | 1,874,122,013 | 234,189,458 | ||
NET REALIZED AND UNREALIZED GAIN (LOSS) | 3,152,364,367 | 1,717,029,982 | 273,004,259 | ||
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS | $ 3,250,902,196 | $ 1,859,839,870 | $ 714,870,174 |
The Energy Select Sector SPDR Fund | The Financial Select Sector SPDR Fund | The Health Care Select Sector SPDR Fund | The Industrial Select Sector SPDR Fund | The Materials Select Sector SPDR Fund | The Real Estate Select Sector SPDR Fund | The Technology Select Sector SPDR Fund | ||||||
1,298,361,592 | $ 643,785,504 | $ 678,691,872 | $ 248,367,713 | $116,732,403 | $ 154,492,551 | $ 454,910,901 | ||||||
4,504,458 | 8,831,094 | 2,871,815 | 766,314 | 439,502 | 254,712 | 3,038,190 | ||||||
51,696 | 42,144 | 3,018,418 | 821,136 | 1,490 | — | 61,887 | ||||||
235,128 | 1,353,830 | 186,623 | 246,538 | 132,049 | — | 541,597 | ||||||
— | — | (602) | — | — | — | (806,285) | ||||||
1,303,152,874 | 654,012,572 | 684,768,126 | 250,201,701 | 117,305,444 | 154,747,263 | 457,746,290 | ||||||
12,001,201 | 9,905,534 | 12,512,608 | 4,375,647 | 1,757,378 | 1,466,962 | 13,585,080 | ||||||
7,815,899 | 6,202,322 | 8,119,324 | 2,773,894 | 1,103,443 | 935,513 | 8,658,575 | ||||||
9,814,132 | 8,062,522 | 10,199,656 | 3,553,393 | 1,427,473 | 1,197,377 | 11,005,207 | ||||||
3,024,286 | 2,493,763 | 3,151,720 | 1,101,226 | 442,431 | 369,577 | 3,417,344 | ||||||
428,465 | 352,807 | 445,352 | 151,018 | 63,824 | 55,400 | 463,718 | ||||||
59,346 | 8,630 | 55,857 | 7,423 | 2,180 | 6,248 | 33,925 | ||||||
154,554 | 94,084 | 150,274 | 59,044 | 37,253 | 37,102 | 133,779 | ||||||
2,099,487 | 1,607,529 | 2,137,642 | 692,883 | 278,398 | 247,629 | 2,211,694 | ||||||
132,066 | 96,966 | 145,439 | 39,938 | 20,260 | 21,340 | 136,486 | ||||||
85,302 | 138,726 | 120,715 | 65,590 | 38,935 | 35,352 | 144,554 | ||||||
35,614,738 | 28,962,883 | 37,038,587 | 12,820,056 | 5,171,575 | 4,372,500 | 39,790,362 | ||||||
$1,267,538,136 | $ 625,049,689 | $ 647,729,539 | $ 237,381,645 | $112,133,869 | $ 150,374,763 | $ 417,955,928 | ||||||
(421,153,401) | (3,178,295,126) | (175,853,227) | (435,710,519) | (58,662,373) | (164,350,722) | (1,024,515,488) | ||||||
635 | (29,128,191) | 4,616 | 4,144 | 1,026 | (1,500) | (6,990) | ||||||
5,751,515,121 | 1,112,557,621 | 2,479,238,745 | 809,773,018 | 229,142,420 | 12,315,730 | 4,628,413,453 | ||||||
— | (1,425,932) | — | — | — | — | — | ||||||
(30,382,956) | — | — | 145,496 | (235,473) | (3,183,234) | 16,736,370 | ||||||
5,299,979,399 | (2,096,291,628) | 2,303,390,134 | 374,212,139 | 170,245,600 | (155,219,726) | 3,620,627,345 | ||||||
2,730,501,346 | 4,456,137,829 | (34,221,648) | 2,013,066,276 | 529,137,837 | (44,683,154) | 9,577,512,291 | ||||||
(2,878) | 50,569,045 | (4,513) | (2,887) | (262) | 11 | (8,448) | ||||||
7,267,001 | — | — | 2,598,975 | 232,616 | 2,491,429 | 5,689,089 | ||||||
2,737,765,469 | 4,506,706,874 | (34,226,161) | 2,015,662,364 | 529,370,191 | (42,191,714) | 9,583,192,932 | ||||||
8,037,744,868 | 2,410,415,246 | 2,269,163,973 | 2,389,874,503 | 699,615,791 | (197,411,440) | 13,203,820,277 | ||||||
$9,305,283,004 | $ 3,035,464,935 | $2,916,893,512 | $2,627,256,148 | $811,749,660 | $ (47,036,677) | $13,621,776,205 |
The Utilities Select Sector SPDR Fund | |
INVESTMENT INCOME | |
Dividend income — unaffiliated issuers | $ 473,682,817 |
Dividend income — affiliated issuers | 1,247,383 |
Unaffiliated securities lending income | 28,427 |
Affiliated securities lending income | 179,823 |
TOTAL INVESTMENT INCOME (LOSS) | 475,138,450 |
EXPENSES | |
Advisory and Administration fees | 4,854,809 |
Distribution fees | 3,159,866 |
License fees | 3,961,148 |
Unitary fees | 1,223,333 |
Trustees’ fees and expenses | 180,176 |
Registration and filing fees | 23,261 |
Professional fees | 74,373 |
Printing and postage fees | 826,859 |
Insurance expense | 61,177 |
Miscellaneous expenses | 58,328 |
TOTAL EXPENSES | 14,423,330 |
NET INVESTMENT INCOME (LOSS) | $ 460,715,120 |
REALIZED AND UNREALIZED GAIN (LOSS) | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (97,326,114) |
Investments — affiliated issuers | 2,330 |
In-kind redemptions — unaffiliated issuers | 226,919,709 |
Net realized gain (loss) | 129,595,925 |
Net change in unrealized appreciation/depreciation on: | |
Investments — unaffiliated issuers | (1,597,726,827) |
Investments — affiliated issuers | (2,749) |
Net change in unrealized appreciation/depreciation | (1,597,729,576) |
NET REALIZED AND UNREALIZED GAIN (LOSS) | (1,468,133,651) |
NET INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS | $(1,007,418,531) |
The Communication Services Select Sector SPDR Fund | The Consumer Discretionary Select Sector SPDR Fund | ||||||
Year Ended 9/30/23 | Year Ended 9/30/22(a) | Year Ended 9/30/23 | Year Ended 9/30/22(a) | ||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | |||||||
Net investment income (loss) | $ 98,537,829 | $ 102,416,033 | $ 142,809,888 | $ 131,815,574 | |||
Net realized gain (loss) | (313,056,658) | 708,706,713 | (157,092,031) | 1,459,788,324 | |||
Net change in unrealized appreciation/depreciation | 3,465,421,025 | (6,255,706,911) | 1,874,122,013 | (5,746,428,466) | |||
Net increase (decrease) in net assets resulting from operations | 3,250,902,196 | (5,444,584,165) | 1,859,839,870 | (4,154,824,568) | |||
Net equalization credits and charges | 1,560,533 | (4,073,365) | 3,199,990 | (944,319) | |||
Distributions to shareholders | (99,539,151) | (98,460,012) | (146,143,540) | (129,853,122) | |||
FROM BENEFICIAL INTEREST TRANSACTIONS: | |||||||
Proceeds from shares sold | 10,276,721,990 | 10,323,050,378 | 16,578,397,409 | 21,602,723,713 | |||
Cost of shares redeemed | (7,895,818,143) | (12,378,013,156) | (14,958,622,444) | (22,853,143,682) | |||
Net income equalization | (1,560,533) | 4,073,365 | (3,199,990) | 944,319 | |||
Net increase (decrease) in net assets from beneficial interest transactions | 2,379,343,314 | (2,050,889,413) | 1,616,574,975 | (1,249,475,650) | |||
Net increase (decrease) in net assets during the period | 5,532,266,892 | (7,598,006,955) | 3,333,471,295 | (5,535,097,659) | |||
Net assets at beginning of period | 7,578,049,935 | 15,176,056,890 | 14,098,638,921 | 19,633,736,580 | |||
NET ASSETS AT END OF PERIOD | $13,110,316,827 | $ 7,578,049,935 | $ 17,432,110,216 | $ 14,098,638,921 | |||
SHARES OF BENEFICIAL INTEREST: | |||||||
Shares sold | 179,500,000 | 150,200,000 | 109,800,000 | 123,600,000 | |||
Shares redeemed | (137,850,000) | (181,300,000) | (100,450,000) | (134,000,000) | |||
Net increase (decrease) from share transactions | 41,650,000 | (31,100,000) | 9,350,000 | (10,400,000) |
(a) | Beginning with the year ended September 30, 2023, the Fund was audited by Cohen & Company. The year ended September 30, 2022 was audited by another independent registered public accounting firm. |
The Consumer Staples Select Sector SPDR Fund | The Energy Select Sector SPDR Fund | The Financial Select Sector SPDR Fund | ||||||||
Year Ended 9/30/23 | Year Ended 9/30/22(a) | Year Ended 9/30/23 | Year Ended 9/30/22(a) | Year Ended 9/30/23 | Year Ended 9/30/22(a) | |||||
$ 441,865,915 | $ 364,578,342 | $ 1,267,538,136 | $ 1,395,774,120 | $ 625,049,689 | $ 720,755,368 | |||||
38,814,801 | 844,454,846 | 5,299,979,399 | 8,300,112,401 | (2,096,291,628) | 2,844,401,110 | |||||
234,189,458 | (1,725,652,584) | 2,737,765,469 | 1,644,500,576 | 4,506,706,874 | (10,851,874,431) | |||||
714,870,174 | (516,619,396) | 9,305,283,004 | 11,340,387,097 | 3,035,464,935 | (7,286,717,953) | |||||
795,893 | 5,281,761 | (37,006,912) | (30,219,502) | (3,966,926) | (26,262,713) | |||||
(441,127,478) | (366,815,541) | (1,341,480,922) | (1,446,908,773) | (620,776,102) | (694,964,954) | |||||
23,046,682,696 | 29,214,101,970 | 27,146,924,381 | 38,323,878,231 | 43,299,923,641 | 49,626,705,184 | |||||
(21,580,150,154) | (25,622,285,154) | (29,602,268,044) | (39,770,503,382) | (42,070,236,620) | (55,103,779,237) | |||||
(795,893) | (5,281,761) | 37,006,912 | 30,219,502 | 3,966,926 | 26,262,713 | |||||
1,465,736,649 | 3,586,535,055 | (2,418,336,751) | (1,416,405,649) | 1,233,653,947 | (5,450,811,340) | |||||
1,740,275,238 | 2,708,381,879 | 5,508,458,419 | 8,446,853,173 | 3,644,375,854 | (13,458,756,960) | |||||
14,465,958,074 | 11,757,576,195 | 33,531,191,692 | 25,084,338,519 | 26,953,933,447 | 40,412,690,407 | |||||
$ 16,206,233,312 | $ 14,465,958,074 | $ 39,039,650,111 | $ 33,531,191,692 | $ 30,598,309,301 | $ 26,953,933,447 | |||||
312,650,000 | 392,500,000 | 314,400,000 | 551,600,000 | 1,287,000,000 | 1,339,600,000 | |||||
(293,950,000) | (346,500,000) | (348,350,000) | (567,100,000) | (1,253,750,000) | (1,527,200,000) | |||||
18,700,000 | 46,000,000 | (33,950,000) | (15,500,000) | 33,250,000 | (187,600,000) |
(a) | Beginning with the year ended September 30, 2023, the Fund was audited by Cohen & Company. The year ended September 30, 2022 was audited by another independent registered public accounting firm. |
The Health Care Select Sector SPDR Fund | The Industrial Select Sector SPDR Fund | ||||||
Year Ended 9/30/23 | Year Ended 9/30/22(a) | Year Ended 9/30/23 | Year Ended 9/30/22(a) | ||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | |||||||
Net investment income (loss) | $ 647,729,539 | $ 532,272,447 | $ 237,381,645 | $ 237,312,729 | |||
Net realized gain (loss) | 2,303,390,134 | 3,156,743,791 | 374,212,139 | 1,109,082,575 | |||
Net change in unrealized appreciation/depreciation | (34,226,161) | (5,562,711,590) | 2,015,662,364 | (3,250,181,327) | |||
Net increase (decrease) in net assets resulting from operations | 2,916,893,512 | (1,873,695,352) | 2,627,256,148 | (1,903,786,023) | |||
Net equalization credits and charges | 1,559,845 | 10,937,354 | (867,162) | (6,531,041) | |||
Distributions to shareholders | (648,808,543) | (547,486,712) | (236,264,195) | (231,405,184) | |||
FROM BENEFICIAL INTEREST TRANSACTIONS: | |||||||
Proceeds from shares sold | 27,182,182,809 | 36,629,546,954 | 25,545,625,552 | 20,377,366,355 | |||
Cost of shares redeemed | (27,549,852,253) | (28,762,153,713) | (24,628,479,250) | (24,504,637,390) | |||
Net income equalization | (1,559,845) | (10,937,354) | 867,162 | 6,531,041 | |||
Net increase (decrease) in net assets from beneficial interest transactions | (369,229,289) | 7,856,455,887 | 918,013,464 | (4,120,739,994) | |||
Contribution from affiliate (Note 4) | — | — | 4,351 | — | |||
Net increase (decrease) in net assets during the period | 1,900,415,525 | 5,446,211,177 | 3,308,142,606 | (6,262,462,242) | |||
Net assets at beginning of period | 35,805,067,041 | 30,358,855,864 | 11,104,719,728 | 17,367,181,970 | |||
NET ASSETS AT END OF PERIOD | $ 37,705,482,566 | $ 35,805,067,041 | $ 14,412,862,334 | $ 11,104,719,728 | |||
SHARES OF BENEFICIAL INTEREST: | |||||||
Shares sold | 205,850,000 | 277,250,000 | 252,600,000 | 208,050,000 | |||
Shares redeemed | (208,800,000) | (219,950,000) | (244,500,000) | (251,550,000) | |||
Net increase (decrease) from share transactions | (2,950,000) | 57,300,000 | 8,100,000 | (43,500,000) |
(a) | Beginning with the year ended September 30, 2023, the Fund was audited by Cohen & Company. The year ended September 30, 2022 was audited by another independent registered public accounting firm. |
The Materials Select Sector SPDR Fund | The Real Estate Select Sector SPDR Fund | The Technology Select Sector SPDR Fund | ||||||||
Year Ended 9/30/23 | Year Ended 9/30/22(a) | Year Ended 9/30/23 | Year Ended 9/30/22(a) | Year Ended 9/30/23 | Year Ended 9/30/22(a) | |||||
$ 112,133,869 | $ 141,752,846 | $ 150,374,763 | $ 101,651,228 | $ 417,955,928 | $ 370,356,173 | |||||
170,245,600 | 390,596,179 | (155,219,726) | 229,318,907 | 3,620,627,345 | 7,445,819,258 | |||||
529,370,191 | (1,306,766,807) | (42,191,714) | (1,383,235,447) | 9,583,192,932 | (16,935,348,705) | |||||
811,749,660 | (774,417,782) | (47,036,677) | (1,052,265,312) | 13,621,776,205 | (9,119,173,274) | |||||
(511,811) | (5,327,250) | (769,779) | 3,998,621 | (831,220) | (660,883) | |||||
(113,054,528) | (140,291,094) | (165,782,154) | (165,006,172) | (413,152,075) | (369,413,320) | |||||
9,947,647,838 | 9,286,163,854 | 3,578,815,569 | 6,393,738,629 | 21,083,097,992 | 31,297,130,714 | |||||
(10,406,162,353) | (11,170,933,914) | (3,884,830,594) | (4,846,435,169) | (22,360,823,963) | (29,174,529,672) | |||||
511,811 | 5,327,250 | 769,779 | (3,998,621) | 831,220 | 660,883 | |||||
(458,002,704) | (1,879,442,810) | (305,245,246) | 1,543,304,839 | (1,276,894,751) | 2,123,261,925 | |||||
— | — | — | — | — | — | |||||
240,180,617 | (2,799,478,936) | (518,833,856) | 330,031,976 | 11,930,898,159 | (7,365,985,552) | |||||
4,702,426,945 | 7,501,905,881 | 4,612,173,222 | 4,282,141,246 | 35,656,530,647 | 43,022,516,199 | |||||
$ 4,942,607,562 | $ 4,702,426,945 | $ 4,093,339,366 | $ 4,612,173,222 | $ 47,587,428,806 | $ 35,656,530,647 | |||||
124,800,000 | 111,250,000 | 95,950,000 | 140,250,000 | 139,250,000 | 206,250,000 | |||||
(131,050,000) | (136,900,000) | (103,900,000) | (108,450,000) | (149,200,000) | (194,000,000) | |||||
(6,250,000) | (25,650,000) | (7,950,000) | 31,800,000 | (9,950,000) | 12,250,000 |
(a) | Beginning with the year ended September 30, 2023, the Fund was audited by Cohen & Company. The year ended September 30, 2022 was audited by another independent registered public accounting firm. |
The Utilities Select Sector SPDR Fund | |||
Year Ended 9/30/23 | Year Ended 9/30/22(a) | ||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | |||
Net investment income (loss) | $ 460,715,120 | $ 404,898,424 | |
Net realized gain (loss) | 129,595,925 | 676,116,079 | |
Net change in unrealized appreciation/depreciation | (1,597,729,576) | (825,343,425) | |
Net increase (decrease) in net assets resulting from operations | (1,007,418,531) | 255,671,078 | |
Net equalization credits and charges | 5,411,223 | 8,627,389 | |
Distributions to shareholders | (497,337,622) | (430,630,955) | |
FROM BENEFICIAL INTEREST TRANSACTIONS: | |||
Proceeds from shares sold | 16,592,246,348 | 24,428,615,968 | |
Cost of shares redeemed | (18,020,106,465) | (20,091,272,564) | |
Net income equalization | (5,411,223) | (8,627,389) | |
Net increase (decrease) in net assets from beneficial interest transactions | (1,433,271,340) | 4,328,716,015 | |
Net increase (decrease) in net assets during the period | (2,932,616,270) | 4,162,383,527 | |
Net assets at beginning of period | 16,119,052,747 | 11,956,669,220 | |
NET ASSETS AT END OF PERIOD | $ 13,186,436,477 | $ 16,119,052,747 | |
SHARES OF BENEFICIAL INTEREST: | |||
Shares sold | 248,600,000 | 345,250,000 | |
Shares redeemed | (271,100,000) | (286,200,000) | |
Net increase (decrease) from share transactions | (22,500,000) | 59,050,000 |
(a) | Beginning with the year ended September 30, 2023, the Fund was audited by Cohen & Company. The year ended September 30, 2022 was audited by another independent registered public accounting firm. |
The Communication Services Select Sector SPDR Fund | |||||||||
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(b) | |||||
Net asset value, beginning of period | $ 47.89 | $ 80.15 | $ 59.40 | $ 49.50 | $ 48.98 | ||||
Income (loss) from investment operations: | |||||||||
Net investment income (loss) (c) | 0.54 | 0.58 | 0.54 | 0.47 | 0.44 | ||||
Net realized and unrealized gain (loss) (d) | 17.68 | (32.25) | 20.73 | 9.88 | 0.51 | ||||
Total from investment operations | 18.22 | (31.67) | 21.27 | 10.35 | 0.95 | ||||
Net equalization credits and charges (c) | 0.01 | (0.02) | (0.00)(e) | 0.02 | 0.02 | ||||
Distributions to shareholders from: | |||||||||
Net investment income | (0.54) | (0.57) | (0.52) | (0.47) | (0.45) | ||||
Net asset value, end of period | $ 65.58 | $ 47.89 | $ 80.15 | $ 59.40 | $ 49.50 | ||||
Total return (f) | 38.24% | (39.71)% | 35.88% | 21.05% | 2.07% | ||||
Ratios and Supplemental Data: | |||||||||
Net assets, end of period (in 000s) | $13,110,317 | $7,578,050 | $15,176,057 | $10,106,071 | $6,039,403 | ||||
Ratios to average net assets: | |||||||||
Total expenses | 0.09% | 0.10% | 0.11% | 0.13% | 0.13% | ||||
Net investment income (loss) | 0.92% | 0.88% | 0.73% | 0.86% | 0.93% | ||||
Portfolio turnover rate (g) | 28% | 21% | 15% | 15% | 16% |
(a) | Beginning with the year ended September 30, 2023, the Fund was audited by Cohen & Company. The previous years were audited by another independent registered public accounting firm. |
(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 on Select Sector SPDR shares. |
The Consumer Discretionary Select Sector SPDR Fund | |||||||||
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(b) | |||||
Net asset value, beginning of period | $ 142.48 | $ 179.54 | $ 146.99 | $ 120.69 | $ 117.19 | ||||
Income (loss) from investment operations: | |||||||||
Net investment income (loss) (c) | 1.43 | 1.23 | 1.09 | 1.46 | 1.58 | ||||
Net realized and unrealized gain (loss) (d) | 18.46 | (37.06) | 32.54 | 26.34 | 3.51 | ||||
Total from investment operations | 19.89 | (35.83) | 33.63 | 27.80 | 5.09 | ||||
Net equalization credits and charges (c) | 0.03 | (0.01) | 0.01 | (0.06) | (0.02) | ||||
Distributions to shareholders from: | |||||||||
Net investment income | (1.44) | (1.22) | (1.09) | (1.44) | (1.57) | ||||
Net asset value, end of period | $ 160.96 | $ 142.48 | $ 179.54 | $ 146.99 | $ 120.69 | ||||
Total return (e) | 14.08% | (20.06)% | 22.93% | 23.25% | 4.45% | ||||
Ratios and Supplemental Data: | |||||||||
Net assets, end of period (in 000s) | $17,432,110 | $14,098,639 | $19,633,737 | $15,809,198 | $13,928,314 | ||||
Ratios to average net assets: | |||||||||
Total expenses | 0.09% | 0.10% | 0.11% | 0.13% | 0.13% | ||||
Net investment income (loss) | 0.95% | 0.70% | 0.65% | 1.17% | 1.40% | ||||
Portfolio turnover rate (f) | 24% | 22% | 23% | 11% | 6% |
(a) | Beginning with the year ended September 30, 2023, the Fund was audited by Cohen & Company. The previous years were audited by another independent registered public accounting firm. |
(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) | 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 on Select Sector SPDR shares. |
The Consumer Staples Select Sector SPDR Fund | |||||||||
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(b) | |||||
Net asset value, beginning of period | $ 66.72 | $ 68.83 | $ 64.13 | $ 61.41 | $ 53.92 | ||||
Income (loss) from investment operations: | |||||||||
Net investment income (loss) (c) | 1.90 | 1.84 | 1.85 | 1.66 | 1.60 | ||||
Net realized and unrealized gain (loss) (d) | 2.08 | (2.16) | 4.67 | 2.70 | 7.41 | ||||
Total from investment operations | 3.98 | (0.32) | 6.52 | 4.36 | 9.01 | ||||
Net equalization credits and charges (c) | 0.00(e) | 0.03 | (0.01) | 0.00(e) | 0.05 | ||||
Distributions to shareholders from: | |||||||||
Net investment income | (1.89) | (1.82) | (1.81) | (1.64) | (1.57) | ||||
Net asset value, end of period | $ 68.81 | $ 66.72 | $ 68.83 | $ 64.13 | $ 61.41 | ||||
Total return (f) | 5.84% | (0.63)% | 10.19% | 7.32% | 17.14% | ||||
Ratios and Supplemental Data: | |||||||||
Net assets, end of period (in 000s) | $16,206,233 | $14,465,958 | $11,757,576 | $13,687,240 | $14,015,004 | ||||
Ratios to average net assets: | |||||||||
Total expenses | 0.09% | 0.10% | 0.11% | 0.13% | 0.13% | ||||
Net investment income (loss) | 2.58% | 2.49% | 2.71% | 2.73% | 2.84% | ||||
Portfolio turnover rate (g) | 17% | 11% | 4% | 5% | 10% |
(a) | Beginning with the year ended September 30, 2023, the Fund was audited by Cohen & Company. The previous years were audited by another independent registered public accounting firm. |
(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 on Select Sector SPDR shares. |
The Energy Select Sector SPDR Fund | |||||||||
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(b) | |||||
Net asset value, beginning of period | $ 71.98 | $ 52.12 | $ 29.97 | $ 59.18 | $ 75.75 | ||||
Income (loss) from investment operations: | |||||||||
Net investment income (loss) (c) | 2.81 | 2.91 | 2.11 | 2.19 | 4.01 | ||||
Net realized and unrealized gain (loss) (d) | 18.72 | 20.07 | 22.11 | (27.49) | (18.36) | ||||
Total from investment operations | 21.53 | 22.98 | 24.22 | (25.30) | (14.35) | ||||
Net equalization credits and charges (c) | (0.08) | (0.06) | 0.09 | 0.08 | (0.04) | ||||
Contribution from Affiliate | — | — | — | 0.00(e)(f) | — | ||||
Distributions to shareholders from: | |||||||||
Net investment income | (3.03) | (3.06) | (2.16) | (3.99) | (2.18) | ||||
Net asset value, end of period | $ 90.40 | $ 71.98 | $ 52.12 | $ 29.97 | $ 59.18 | ||||
Total return (g) | 30.31% | 44.34% | 81.93% | (44.68)%(h) | (19.08)% | ||||
Ratios and Supplemental Data: | |||||||||
Net assets, end of period (in 000s) | $39,039,650 | $33,531,192 | $25,084,339 | $8,430,789 | $10,014,781 | ||||
Ratios to average net assets: | |||||||||
Total expenses | 0.09% | 0.10% | 0.11% | 0.13% | 0.13% | ||||
Net investment income (loss) | 3.30% | 4.14% | 4.54% | 5.08% | 6.25% | ||||
Portfolio turnover rate (i) | 8% | 9% | 14% | 13% | 10% |
(a) | Beginning with the year ended September 30, 2023, the Fund was audited by Cohen & Company. The previous years were audited by another independent registered public accounting firm. |
(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) | Contribution paid by an Affiliate in the amount of $290,417. |
(g) | 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. |
(h) | The contribution from an Affiliate had no impact on total return. |
(i) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions on Select Sector SPDR shares. |
The Financial Select Sector SPDR Fund | |||||||||
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(b) | |||||
Net asset value, beginning of period | $ 30.31 | $ 37.53 | $ 24.06 | $ 28.02 | $ 27.58 | ||||
Income (loss) from investment operations: | |||||||||
Net investment income (loss) (c) | 0.67 | 0.68 | 0.61 | 0.60 | 0.57 | ||||
Net realized and unrealized gain (loss) (d) | 2.86 | (7.21) | 13.44 | (3.94) | 0.46 | ||||
Total from investment operations | 3.53 | (6.53) | 14.05 | (3.34) | 1.03 | ||||
Net equalization credits and charges (c) | 0.00(e) | (0.02) | 0.02 | (0.02) | (0.03) | ||||
Distributions to shareholders from: | |||||||||
Net investment income | (0.67) | (0.67) | (0.60) | (0.60) | (0.56) | ||||
Net asset value, end of period | $ 33.17 | $ 30.31 | $ 37.53 | $ 24.06 | $ 28.02 | ||||
Total return (f) | 11.67% | (17.67)% | 58.79% | (11.98)% | 3.81% | ||||
Ratios and Supplemental Data: | |||||||||
Net assets, end of period (in 000s) | $30,598,309 | $26,953,933 | $40,412,690 | $16,646,404 | $22,552,204 | ||||
Ratios to average net assets: | |||||||||
Total expenses | 0.09% | 0.10% | 0.11% | 0.13% | 0.13% | ||||
Net investment income (loss) | 1.97% | 1.83% | 1.80% | 2.30% | 2.13% | ||||
Portfolio turnover rate (g) | 23% | 4% | 3% | 4% | 4% |
(a) | Beginning with the year ended September 30, 2023, the Fund was audited by Cohen & Company. The previous years were audited by another independent registered public accounting firm. |
(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 on Select Sector SPDR shares. |
The Health Care Select Sector SPDR Fund | |||||||||
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(b) | |||||
Net asset value, beginning of period | $ 121.02 | $ 127.26 | $ 105.56 | $ 90.13 | $ 95.11 | ||||
Income (loss) from investment operations: | |||||||||
Net investment income (loss) (c) | 2.13 | 1.95 | 1.85 | 1.66 | 2.29 | ||||
Net realized and unrealized gain (loss) (d) | 7.69 | (6.27) | 21.65 | 16.08 | (5.75) | ||||
Total from investment operations | 9.82 | (4.32) | 23.50 | 17.74 | (3.46) | ||||
Net equalization credits and charges (c) | 0.01 | 0.04 | 0.01 | (0.00)(e) | (0.02) | ||||
Distributions to shareholders from: | |||||||||
Net investment income | (2.13) | (1.96) | (1.81) | (2.31) | (1.50) | ||||
Net asset value, end of period | $ 128.72 | $ 121.02 | $ 127.26 | $ 105.56 | $ 90.13 | ||||
Total return (f) | 8.10% | (3.47)% | 22.37% | 19.90% | (3.65)% | ||||
Ratios and Supplemental Data: | |||||||||
Net assets, end of period (in 000s) | $37,705,483 | $35,805,067 | $30,358,856 | $23,873,455 | $16,818,717 | ||||
Ratios to average net assets: | |||||||||
Total expenses | 0.09% | 0.10% | 0.11% | 0.13% | 0.13% | ||||
Net investment income (loss) | 1.62% | 1.48% | 1.54% | 1.67% | 2.53% | ||||
Portfolio turnover rate (g) | 3% | 2% | 4% | 3% | 2% |
(a) | Beginning with the year ended September 30, 2023, the Fund was audited by Cohen & Company. The previous years were audited by another independent registered public accounting firm. |
(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 on Select Sector SPDR shares. |
The Industrial Select Sector SPDR Fund | |||||||||
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(b) | |||||
Net asset value, beginning of period | $ 82.79 | $ 97.77 | $ 76.98 | $ 77.66 | $ 78.37 | ||||
Income (loss) from investment operations: | |||||||||
Net investment income (loss) (c) | 1.71 | 1.52 | 1.27 | 1.39 | 1.52 | ||||
Net realized and unrealized gain (loss) (d) | 18.56 | (14.94) | 20.81 | (0.68) | (0.63) | ||||
Total from investment operations | 20.27 | (13.42) | 22.08 | 0.71 | 0.89 | ||||
Net equalization credits and charges (c) | (0.01) | (0.04) | 0.01 | 0.02 | (0.03) | ||||
Contribution from Affiliate (Note 4) | 0.00(e) | — | — | — | 0.00(e)(f) | ||||
Distributions to shareholders from: | |||||||||
Net investment income | (1.71) | (1.52) | (1.30) | (1.41) | (1.57) | ||||
Net asset value, end of period | $ 101.34 | $ 82.79 | $ 97.77 | $ 76.98 | $ 77.66 | ||||
Total return (g) | 24.50%(h) | (13.95)% | 28.74% | 1.12% | 1.25%(h) | ||||
Ratios and Supplemental Data: | |||||||||
Net assets, end of period (in 000s) | $14,412,862 | $11,104,720 | $17,367,182 | $12,179,734 | $9,802,368 | ||||
Ratios to average net assets: | |||||||||
Total expenses | 0.09% | 0.10% | 0.11% | 0.13% | 0.13% | ||||
Net investment income (loss) | 1.69% | 1.54% | 1.33% | 1.87% | 2.07% | ||||
Portfolio turnover rate (i) | 9% | 7% | 2% | 3% | 3% |
(a) | Beginning with the year ended September 30, 2023, the Fund was audited by Cohen & Company. The previous years were audited by another independent registered public accounting firm. |
(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) | Contribution paid by an Affiliate in the amount of $60,421. |
(g) | 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. |
(h) | The contribution from an Affiliate had no impact on total return. |
(i) | Portfolio turnover rate excludes securities received or delivered from in-kind processing of creations or redemptions on Select Sector SPDR shares. |
The Materials Select Sector SPDR Fund | |||||||||
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(b) | |||||
Net asset value, beginning of period | $ 67.98 | $ 79.11 | $ 63.62 | $ 58.17 | $ 57.92 | ||||
Income (loss) from investment operations: | |||||||||
Net investment income (loss) (c) | 1.59 | 1.64 | 1.45 | 1.23 | 1.20 | ||||
Net realized and unrealized gain (loss) (d) | 10.62 | (11.02) | 15.43 | 5.47 | 0.28 | ||||
Total from investment operations | 12.21 | (9.38) | 16.88 | 6.70 | 1.48 | ||||
Net equalization credits and charges (c) | (0.01) | (0.06) | (0.00)(e) | (0.03) | (0.03) | ||||
Distributions to shareholders from: | |||||||||
Net investment income | (1.63) | (1.69) | (1.39) | (1.22) | (1.20) | ||||
Net asset value, end of period | $ 78.55 | $ 67.98 | $ 79.11 | $ 63.62 | $ 58.17 | ||||
Total return (f) | 17.97% | (12.23)% | 26.60% | 11.76% | 2.64% | ||||
Ratios and Supplemental Data: | |||||||||
Net assets, end of period (in 000s) | $4,942,608 | $4,702,427 | $7,501,906 | $3,917,044 | $4,201,473 | ||||
Ratios to average net assets: | |||||||||
Total expenses | 0.09% | 0.10% | 0.11% | 0.13% | 0.13% | ||||
Net investment income (loss) | 1.99% | 1.97% | 1.83% | 2.15% | 2.18% | ||||
Portfolio turnover rate (g) | 3% | 2% | 5% | 4% | 20% |
(a) | Beginning with the year ended September 30, 2023, the Fund was audited by Cohen & Company. The previous years were audited by another independent registered public accounting firm. |
(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 on Select Sector SPDR shares. |
The Real Estate Select Sector SPDR Fund | |||||||||
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(b) | |||||
Net asset value, beginning of period | $ 36.00 | $ 44.47 | $ 35.30 | $ 39.35 | $ 32.62 | ||||
Income (loss) from investment operations: | |||||||||
Net investment income (loss) (c) | 1.20 | 0.86 | 0.85 | 0.88 | 0.95 | ||||
Net realized and unrealized gain (loss) (d) | (1.79) | (7.99) | 9.66 | (3.78) | 6.91 | ||||
Total from investment operations | (0.59) | (7.13) | 10.51 | (2.90) | 7.86 | ||||
Net equalization credits and charges (c) | (0.01) | 0.03 | 0.05 | (0.05) | 0.01 | ||||
Distributions to shareholders from: | |||||||||
Net investment income | (1.33) | (1.37) | (1.39) | (1.10) | (1.14) | ||||
Net asset value, end of period | $ 34.07 | $ 36.00 | $ 44.47 | $ 35.30 | $ 39.35 | ||||
Total return (e) | (1.81)% | (16.46)% | 30.42% | (7.46)% | 24.64% | ||||
Ratios and Supplemental Data: | |||||||||
Net assets, end of period (in 000s) | $4,093,339 | $4,612,173 | $4,282,141 | $2,264,406 | $3,884,273 | ||||
Ratios to average net assets: | |||||||||
Total expenses | 0.09% | 0.10% | 0.11% | 0.13% | 0.13% | ||||
Net investment income (loss) | 3.20% | 1.90% | 2.05% | 2.42% | 2.69% | ||||
Portfolio turnover rate (f) | 9% | 11% | 4% | 5% | 3% |
(a) | Beginning with the year ended September 30, 2023, the Fund was audited by Cohen & Company. The previous years were audited by another independent registered public accounting firm. |
(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) | 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 on Select Sector SPDR shares. |
The Technology Select Sector SPDR Fund | |||||||||
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(b) | |||||
Net asset value, beginning of period | $ 118.73 | $ 149.35 | $ 116.76 | $ 80.51 | $ 75.30 | ||||
Income (loss) from investment operations: | |||||||||
Net investment income (loss) (c) | 1.42 | 1.24 | 1.11 | 1.20 | 1.05 | ||||
Net realized and unrealized gain (loss) (d) | 45.14 | (30.62) | 32.60 | 36.24 | 5.18 | ||||
Total from investment operations | 46.56 | (29.38) | 33.71 | 37.44 | 6.23 | ||||
Net equalization credits and charges (c) | — | (0.00)(e) | (0.02) | (0.00)(e) | 0.01 | ||||
Distributions to shareholders from: | |||||||||
Net investment income | (1.40) | (1.24) | (1.10) | (1.19) | (1.03) | ||||
Net asset value, end of period | $ 163.89 | $ 118.73 | $ 149.35 | $ 116.76 | $ 80.51 | ||||
Total return (f) | 39.34% | (19.82)% | 28.93% | 46.88% | 8.44% | ||||
Ratios and Supplemental Data: | |||||||||
Net assets, end of period (in 000s) | $47,587,429 | $35,656,531 | $43,022,516 | $34,095,026 | $22,417,160 | ||||
Ratios to average net assets: | |||||||||
Total expenses | 0.09% | 0.10% | 0.11% | 0.13% | 0.13% | ||||
Net investment income (loss) | 0.96% | 0.83% | 0.81% | 1.24% | 1.44% | ||||
Portfolio turnover rate (g) | 19% | 9% | 4% | 3% | 6% |
(a) | Beginning with the year ended September 30, 2023, the Fund was audited by Cohen & Company. The previous years were audited by another independent registered public accounting firm. |
(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 on Select Sector SPDR shares. |
The Utilities Select Sector SPDR Fund | |||||||||
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(b) | |||||
Net asset value, beginning of period | $ 65.46 | $ 63.88 | $ 59.40 | $ 64.73 | $ 52.68 | ||||
Income (loss) from investment operations: | |||||||||
Net investment income (loss) (c) | 1.98 | 1.96 | 1.86 | 2.00 | 1.90 | ||||
Net realized and unrealized gain (loss) (d) | (6.40) | 1.61 | 4.61 | (5.36) | 12.01 | ||||
Total from investment operations | (4.42) | 3.57 | 6.47 | (3.36) | 13.91 | ||||
Net equalization credits and charges (c) | 0.02 | 0.04 | (0.01) | (0.02) | 0.01 | ||||
Distributions to shareholders from: | |||||||||
Net investment income | (2.12) | (2.03) | (1.98) | (1.95) | (1.87) | ||||
Net asset value, end of period | $ 58.94 | $ 65.46 | $ 63.88 | $ 59.40 | $ 64.73 | ||||
Total return (e) | (7.02)% | 5.46% | 10.95% | (5.12)% | 26.85% | ||||
Ratios and Supplemental Data: | |||||||||
Net assets, end of period (in 000s) | $13,186,436 | $16,119,053 | $11,956,669 | $11,405,751 | $11,296,483 | ||||
Ratios to average net assets: | |||||||||
Total expenses | 0.09% | 0.10% | 0.11% | 0.13% | 0.13% | ||||
Net investment income (loss) | 2.96% | 2.76% | 2.89% | 3.29% | 3.30% | ||||
Portfolio turnover rate (f) | 3% | 4% | 3% | 3% | 5% |
(a) | Beginning with the year ended September 30, 2023, the Fund was audited by Cohen & Company. The previous years were audited by another independent registered public accounting firm. |
(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) | 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 on Select Sector SPDR shares. |
The Communication Services Select Sector SPDR Fund |
The Consumer Discretionary Select Sector SPDR Fund |
The Consumer Staples Select Sector SPDR Fund |
The Energy Select Sector SPDR Fund |
The Financial Select Sector SPDR Fund |
The Health Care Select Sector SPDR Fund |
The Industrial Select Sector SPDR Fund |
The Materials Select Sector SPDR Fund |
The Real Estate Select Sector SPDR Fund |
The Technology Select Sector SPDR Fund |
The Utilities Select Sector SPDR Fund |
Liability Derivatives | ||||||||||||||||
Interest Rate Risk | Foreign Exchange Risk | Credit Risk | Equity Risk | Commodity Risk | Total | |||||||||||
The Energy Select Sector SPDR Fund | ||||||||||||||||
Futures Contracts | $— | $— | $— | $1,100,840 | $— | $1,100,840 | ||||||||||
The Industrial Select Sector SPDR Fund | ||||||||||||||||
Futures Contracts | — | — | — | 540,750 | — | 540,750 | ||||||||||
The Materials Select Sector SPDR Fund | ||||||||||||||||
Futures Contracts | — | — | — | 545,600 | — | 545,600 | ||||||||||
The Real Estate Select Sector SPDR Fund | ||||||||||||||||
Futures Contracts | — | — | — | 499,125 | — | 499,125 | ||||||||||
The Technology Select Sector SPDR Fund | ||||||||||||||||
Futures Contracts | — | — | — | 3,103,650 | — | 3,103,650 |
Net Realized Gain (Loss) | ||||||||||||||||
Interest Rate Risk | Foreign Exchange Risk | Credit Risk | Equity Risk | Commodity Risk | Total | |||||||||||
The Energy Select Sector SPDR Fund | ||||||||||||||||
Futures Contracts | $— | $— | $— | $(30,382,956) | $— | $(30,382,956) | ||||||||||
The Industrial Select Sector SPDR Fund | ||||||||||||||||
Futures Contracts | — | — | — | 145,496 | — | 145,496 | ||||||||||
The Materials Select Sector SPDR Fund | ||||||||||||||||
Futures Contracts | — | — | — | (235,473) | — | (235,473) | ||||||||||
The Real Estate Select Sector SPDR Fund | ||||||||||||||||
Futures Contracts | — | — | — | (3,183,234) | — | (3,183,234) | ||||||||||
The Technology Select Sector SPDR Fund | ||||||||||||||||
Futures Contracts | — | — | — | 16,736,370 | — | 16,736,370 |
Net Change in Unrealized Appreciation/Depreciation | ||||||||||||||||
Interest Rate Risk | Foreign Exchange Risk | Credit Risk | Equity Risk | Commodity Risk | Total | |||||||||||
The Energy Select Sector SPDR Fund | ||||||||||||||||
Futures Contracts | $— | $— | $— | $7,267,001 | $— | $7,267,001 | ||||||||||
The Industrial Select Sector SPDR Fund | ||||||||||||||||
Futures Contracts | — | — | — | 2,598,975 | — | 2,598,975 | ||||||||||
The Materials Select Sector SPDR Fund | ||||||||||||||||
Futures Contracts | — | — | — | 232,616 | — | 232,616 | ||||||||||
The Real Estate Select Sector SPDR Fund | ||||||||||||||||
Futures Contracts | — | — | — | 2,491,429 | — | 2,491,429 | ||||||||||
The Technology Select Sector SPDR Fund | ||||||||||||||||
Futures Contracts | — | — | — | 5,689,089 | — | 5,689,089 |
Purchases | Sales | ||
The Communication Services Select Sector SPDR Fund | $2,954,293,037 | $2,954,734,969 | |
The Consumer Discretionary Select Sector SPDR Fund | 3,723,760,992 | 3,715,703,483 | |
The Consumer Staples Select Sector SPDR Fund | 2,862,566,121 | 2,863,756,823 | |
The Energy Select Sector SPDR Fund | 2,988,741,684 | 2,995,168,225 | |
The Financial Select Sector SPDR Fund | 7,163,266,621 | 7,139,367,650 | |
The Health Care Select Sector SPDR Fund | 1,116,172,001 | 1,109,595,093 | |
The Industrial Select Sector SPDR Fund | 1,312,550,089 | 1,235,443,927 | |
The Materials Select Sector SPDR Fund | 188,971,258 | 195,438,695 | |
The Real Estate Select Sector SPDR Fund | 422,751,200 | 409,559,907 | |
The Technology Select Sector SPDR Fund | 8,326,036,965 | 8,339,812,576 | |
The Utilities Select Sector SPDR Fund | 497,622,966 | 521,684,455 |
In-kind Contributions | In-kind Redemptions | In-kind Net Realized Gains/(Losses) | |||
The Communication Services Select Sector SPDR Fund | $ 8,773,820,057 | $ 6,393,152,508 | $ 772,960,779 | ||
The Consumer Discretionary Select Sector SPDR Fund | 11,674,104,586 | 10,054,173,638 | 945,498,614 | ||
The Consumer Staples Select Sector SPDR Fund | 17,341,016,349 | 15,873,060,997 | 478,828,415 | ||
The Energy Select Sector SPDR Fund | 22,384,433,455 | 24,837,682,674 | 5,751,515,121 | ||
The Financial Select Sector SPDR Fund | 34,434,179,629 | 33,203,122,347 | 1,111,131,689 | ||
The Health Care Select Sector SPDR Fund | 19,082,167,571 | 19,449,842,958 | 2,479,238,745 | ||
The Industrial Select Sector SPDR Fund | 19,436,752,071 | 18,585,615,157 | 809,773,018 | ||
The Materials Select Sector SPDR Fund | 7,385,289,129 | 7,843,232,369 | 229,142,420 | ||
The Real Estate Select Sector SPDR Fund | 2,806,535,222 | 3,112,600,200 | 12,315,730 | ||
The Technology Select Sector SPDR Fund | 15,729,546,836 | 17,008,400,565 | 4,628,413,453 | ||
The Utilities Select Sector SPDR Fund | 12,377,412,788 | 13,803,912,560 | 226,919,709 |
Ordinary Income | Long-Term Capital Gains | Total | |||
The Communication Services Select Sector SPDR Fund | $ 99,539,151 | $— | $ 99,539,151 | ||
The Consumer Discretionary Select Sector SPDR Fund | 146,143,540 | — | 146,143,540 | ||
The Consumer Staples Select Sector SPDR Fund | 441,127,478 | — | 441,127,478 | ||
The Energy Select Sector SPDR Fund | 1,341,480,922 | — | 1,341,480,922 | ||
The Financial Select Sector SPDR Fund | 620,776,102 | — | 620,776,102 | ||
The Health Care Select Sector SPDR Fund | 648,808,543 | — | 648,808,543 | ||
The Industrial Select Sector SPDR Fund | 236,264,195 | — | 236,264,195 | ||
The Materials Select Sector SPDR Fund | 113,054,528 | — | 113,054,528 | ||
The Real Estate Select Sector SPDR Fund | 165,782,154 | — | 165,782,154 | ||
The Technology Select Sector SPDR Fund | 413,152,075 | — | 413,152,075 | ||
The Utilities Select Sector SPDR Fund | 497,337,622 | — | 497,337,622 |
Ordinary Income | Long-Term Capital Gains | Total | |||
The Communication Services Select Sector SPDR Fund | $ 98,460,012 | $ — | $ 98,460,012 | ||
The Consumer Discretionary Select Sector SPDR Fund | 129,853,122 | — | 129,853,122 | ||
The Consumer Staples Select Sector SPDR Fund | 366,815,541 | — | 366,815,541 | ||
The Energy Select Sector SPDR Fund | 1,446,908,773 | — | 1,446,908,773 | ||
The Financial Select Sector SPDR Fund | 694,964,954 | — | 694,964,954 | ||
The Health Care Select Sector SPDR Fund | 547,486,712 | — | 547,486,712 | ||
The Industrial Select Sector SPDR Fund | 231,405,184 | — | 231,405,184 | ||
The Materials Select Sector SPDR Fund | 140,291,094 | — | 140,291,094 | ||
The Real Estate Select Sector SPDR Fund | 165,006,172 | — | 165,006,172 | ||
The Technology Select Sector SPDR Fund | 369,413,320 | — | 369,413,320 | ||
The Utilities Select Sector SPDR Fund | 430,630,955 | — | 430,630,955 |
Undistributed Ordinary Income | Capital Loss Carryforwards | Undistributed Long-Term Capital Gains | Net Unrealized Gains (Losses) | Total | |||||
The Communication Services Select Sector SPDR Fund | $ 5,099,638 | $(2,026,955,991) | $— | $ (746,868,976) | $(2,768,725,329) | ||||
The Consumer Discretionary Select Sector SPDR Fund | 19,117,915 | (3,593,898,120) | — | (1,850,521,937) | (5,425,302,142) | ||||
The Consumer Staples Select Sector SPDR Fund | 738,437 | (1,636,851,068) | — | (2,355,299,892) | (3,991,412,523) | ||||
The Energy Select Sector SPDR Fund | — | (8,014,225,896) | — | 2,891,509,742 | (5,122,716,154) | ||||
The Financial Select Sector SPDR Fund | 59,764,772 | (4,372,466,748) | — | (4,071,891,948) | (8,384,593,924) | ||||
The Health Care Select Sector SPDR Fund | 20,263,735 | (1,200,255,109) | — | (4,102,348,490) | (5,282,339,864) | ||||
The Industrial Select Sector SPDR Fund | 7,024,995 | (1,114,240,957) | — | (2,296,261,691) | (3,403,477,653) | ||||
The Materials Select Sector SPDR Fund | 7,437,906 | (991,406,853) | — | (1,122,453,296) | (2,106,422,243) | ||||
The Real Estate Select Sector SPDR Fund | — | (298,222,276) | — | (1,471,673,273) | (1,769,895,549) | ||||
The Technology Select Sector SPDR Fund | 14,665,986 | (2,708,929,640) | — | 3,588,955,559 | 894,691,905 | ||||
The Utilities Select Sector SPDR Fund | — | (991,700,217) | — | (3,507,808,497) | (4,499,508,714) |
Non-Expiring Short Term | Non-Expiring Long Term | ||
The Communication Services Select Sector SPDR Fund | $ 533,908,049 | $1,493,047,942 | |
The Consumer Discretionary Select Sector SPDR Fund | 1,337,679,080 | 2,256,219,040 | |
The Consumer Staples Select Sector SPDR Fund | 337,468,071 | 1,299,382,997 | |
The Energy Select Sector SPDR Fund | 708,705,876 | 7,305,520,020 | |
The Financial Select Sector SPDR Fund | 1,093,107,746 | 3,279,359,002 | |
The Health Care Select Sector SPDR Fund | 219,263,075 | 980,992,034 | |
The Industrial Select Sector SPDR Fund | 217,318,698 | 896,922,259 | |
The Materials Select Sector SPDR Fund | 302,779,777 | 688,627,076 | |
The Real Estate Select Sector SPDR Fund | 120,062,614 | 178,159,662 | |
The Technology Select Sector SPDR Fund | 806,930,899 | 1,901,998,741 | |
The Utilities Select Sector SPDR Fund | 222,420,987 | 769,279,230 |
Tax Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | ||||
The Communication Services Select Sector SPDR Fund | $13,855,771,763 | $ 665,504,804 | $1,412,373,780 | $ (746,868,976) | |||
The Consumer Discretionary Select Sector SPDR Fund | 19,312,122,458 | 368,040,349 | 2,218,562,286 | (1,850,521,937) | |||
The Consumer Staples Select Sector SPDR Fund | 18,522,669,566 | 84,301,118 | 2,439,601,010 | (2,355,299,892) | |||
The Energy Select Sector SPDR Fund | 36,151,337,623 | 3,513,432,542 | 621,922,800 | 2,891,509,742 | |||
The Financial Select Sector SPDR Fund | 35,135,384,499 | 751,675,966 | 4,823,567,914 | (4,071,891,948) | |||
The Health Care Select Sector SPDR Fund | 41,808,755,139 | 1,789,729,090 | 5,892,077,580 | (4,102,348,490) | |||
The Industrial Select Sector SPDR Fund | 16,774,693,969 | 344,635,425 | 2,640,897,116 | (2,296,261,691) | |||
The Materials Select Sector SPDR Fund | 6,092,041,433 | 23,683,594 | 1,146,136,890 | (1,122,453,296) | |||
The Real Estate Select Sector SPDR Fund | 5,566,264,363 | 9,478,944 | 1,481,152,217 | (1,471,673,273) | |||
The Technology Select Sector SPDR Fund | 44,030,493,113 | 5,047,917,071 | 1,458,961,512 | 3,588,955,559 | |||
The Utilities Select Sector SPDR Fund | 16,696,713,890 | 119,913,571 | 3,627,722,068 | (3,507,808,497) |
Fund | Market Value of Securities on Loan | Cash Collateral Received | Non-Cash Collateral Received* | Total Collateral Received | ||||
The Communication Services Select Sector SPDR Fund | $ 302,376 | $ — | $ 310,580 | $ 310,580 | ||||
The Consumer Discretionary Select Sector SPDR Fund | 96,691,101 | 32,385,839 | 66,007,330 | 98,393,169 | ||||
The Consumer Staples Select Sector SPDR Fund | 5,405,248 | 5,240,094 | - | 5,240,094 | ||||
The Energy Select Sector SPDR Fund | 37,091,364 | 14,004,048 | 23,722,875 | 37,726,923 | ||||
The Financial Select Sector SPDR Fund | 470,009,138 | 483,314,119 | - | 483,314,119 | ||||
The Health Care Select Sector SPDR Fund | 26,779,881 | 24,295,260 | 3,045,000 | 27,340,260 | ||||
The Industrial Select Sector SPDR Fund | 76,624,257 | 76,756,877 | 1,848,614 | 78,605,491 | ||||
The Materials Select Sector SPDR Fund | 76,117,401 | 33,329,188 | 45,324,400 | 78,653,588 | ||||
The Technology Select Sector SPDR Fund | 29,796,589 | 23,763,431 | 6,764,712 | 30,528,143 | ||||
The Utilities Select Sector SPDR Fund | 7,096,391 | 7,244,850 | - | 7,244,850 |
* | The non-cash collateral includes U.S. Treasuries and U.S. Government Agency securities. |
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 | |||||||
The Consumer Discretionary Select Sector SPDR Fund | Common Stocks | $ 32,385,839 | $— | $— | $— | $ 32,385,839 | $ 32,385,839 | |||||||
The Consumer Staples Select Sector SPDR Fund | Common Stocks | 5,240,094 | — | — | — | 5,240,094 | 5,240,094 | |||||||
The Energy Select Sector SPDR Fund | Common Stocks | 14,004,048 | — | — | — | 14,004,048 | 14,004,048 | |||||||
The Financial Select Sector SPDR Fund | Common Stocks | 483,314,119 | — | — | — | 483,314,119 | 483,314,119 | |||||||
The Health Care Select Sector SPDR Fund | Common Stocks | 24,295,260 | — | — | — | 24,295,260 | 24,295,260 | |||||||
The Industrial Select Sector SPDR Fund | Common Stocks | 76,756,877 | — | — | — | 76,756,877 | 76,756,877 | |||||||
The Materials Select Sector SPDR Fund | Common Stocks | 33,329,188 | — | — | — | 33,329,188 | 33,329,188 | |||||||
The Technology Select Sector SPDR Fund | Common Stocks | 23,763,431 | — | — | — | 23,763,431 | 23,763,431 | |||||||
The Utilities Select Sector SPDR Fund | Common Stocks | 7,244,850 | — | — | — | 7,244,850 | 7,244,850 |
![](https://capedge.com/proxy/N-CSR/0001193125-23-289829/g655772imgb3f9aac326.jpg)
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) | |||||
The Communication Services Select Sector SPDR Fund | 0.09% | $1,135.90 | $0.48 | $1,024.60 | $0.46 | ||||
The Consumer Discretionary Select Sector SPDR Fund | 0.09 | 1,080.50 | 0.47 | 1,024.60 | 0.46 | ||||
The Consumer Staples Select Sector SPDR Fund | 0.09 | 933.80 | 0.44 | 1,024.60 | 0.46 | ||||
The Energy Select Sector SPDR Fund | 0.09 | 1,109.90 | 0.48 | 1,024.60 | 0.46 | ||||
The Financial Select Sector SPDR Fund | 0.09 | 1,041.10 | 0.46 | 1,024.60 | 0.46 | ||||
The Health Care Select Sector SPDR Fund | 0.09 | 1,002.10 | 0.45 | 1,024.60 | 0.46 | ||||
The Industrial Select Sector SPDR Fund | 0.09 | 1,009.70 | 0.45 | 1,024.60 | 0.46 | ||||
The Materials Select Sector SPDR Fund | 0.09 | 983.70 | 0.45 | 1,024.60 | 0.46 | ||||
The Real Estate Select Sector SPDR Fund | 0.09 | 927.90 | 0.43 | 1,024.60 | 0.46 | ||||
The Technology Select Sector SPDR Fund | 0.09 | 1,089.90 | 0.47 | 1,024.60 | 0.46 | ||||
The Utilities Select Sector SPDR Fund | 0.09 | 884.80 | 0.43 | 1,024.60 | 0.46 |
(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. |
Name, Address and Year of Birth | Position(s) with Trust | 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 | |||||
Independent Trustees | ||||||||||
ASHLEY T. RABUN c/o The Select Sector SPDR Trust One Iron Street Boston, MA 02210 1952 | Trustee, Chair of the Board; Member of the Audit Committee, Member of the Nominating and Governance Committee | Term: Indefinite Appointed: October 2015 Elected: October 2021 | Retired; President and Founder, InvestorReach, Inc., a financial services consulting firm (1996 - 2015). | 11 | Chairperson of the Board and Member of the Audit, Nominating and Valuation Committees, Investment Managers Series Trust (2007 - present). | |||||
ALLISON GRANT WILLIAMS c/o The Select Sector SPDR Trust One Iron Street Boston, MA 02210 1956 | Trustee, Member of the Audit Committee, Member of the Nominating and Governance Committee | Term: Indefinite Elected: October 2021 | Retired; Practice Executive, Global Strategic Relationship Management/Asset Management - Corporate & Institutional Services (C&IS) Division, Northern Trust Corporation (2017 - 2021); and Chief Operating Officer & Chief Administrative Officer, Institutional Investor Group, N.A., C&IS Division, Northern Trust Corporation (2016 - 2017). | 11 | Leadership Advisory Committee (2019 - present) and Membership Committee Chair (2021 - present), Art Institute of Chicago; Academic Affairs Chair and Executive Committee Member (2018 - present) and Board of Trustees and Investment Committee Member (2012 - present), Columbia College Chicago. | |||||
SHEILA HARTNETT-DEVLIN c/o The Select Sector SPDR Trust One Iron Street Boston, MA 02210 1958 | Trustee, Member of the Audit Committee, Member of the Nominating and Governance Committee | Term: Indefinite Elected: October 2021 | Retired; Senior Vice President and Head of the U.S. Institutional Business American Century Investments, Inc. (2008 - 2017). | 11 | Director, South Jersey Industries, Inc. (energy services) (1999 - present) and Director, Mannington Mills (flooring products) (2005 to present). | |||||
JAMES JESSEE c/o The Select Sector SPDR Trust One Iron Street Boston, MA 02210 1958 | Trustee, Member of the Audit Committee, Member of the Nominating and Governance Committee | Term: Indefinite Elected: October 2021 | Retired; Strategic Advisor, MFS Investment Management (2018); and Co-Head, Global Distribution and President MFS Fund Distributors, Inc. (2011 – 2017). | 11 | Trustee, Yieldstreet Prism Fund (investment company) (2019 - present); Trustee, Lanteri Charitable Trust (2018 - present); Director, Regional Board of Directors, BottomLine (charity) (2018 - present); Director, Invest in Others Charitable Foundation (2016 - present); Board Member, Board of Governors, Investment Company Institute (2014 - 2018); Director, Waddell & Reed Financial, Inc. (investment management) (2019 - 2021). |
Name, Address and Year of Birth | Position(s) with Trust | 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 | |||||
TERESA POLLEY c/o The Select Sector SPDR Trust One Iron Street Boston, MA 02210 1960 | Trustee, Chair of the Audit Committee, Member of the Nominating and Governance Committee | Term: Indefinite Elected: October 2021 | Terri Polley Consulting (2019 - present); President and Chief Executive Officer of the Financial Accounting Foundation (FAF) (2008 - 2019). | 11 | Corporator, Fairfield County Bank Corporation (2019 - present); Trustee (2018 to present), Academic Affairs Committee Member (2018 - present), Audit Committee Chair (2021 - present), Executive Committee Member (2021 - present), Finance and Operations Committee Member (2018 - present), St. Francis University; Director (2010 - present), Chair (2015 - 2017), Vice Chair (2013 - 2015), Treasurer (2011 - 2013), Greater Norwalk (CT) Chamber of Commerce; Member (2020 - present), Investment Committee, Connecticut Society of CPAs; Director (2020 - present), Girl Scouts of Connecticut. | |||||
R. CHARLES TSCHAMPION c/o The Select Sector SPDR Trust One Iron Street Boston, MA 02210 1946 | Trustee, Member of the Audit Committee, Chair of the Nominating and Governance Committee | Term: Indefinite Elected: October 1998 | Retired. | 11 | Trustee Emeritus of Lehigh University; Director and Member of the Audit and Nominating Committees, db-X Exchange-Traded Funds, Inc. (2007 - 2015). | |||||
Interested Trustees | ||||||||||
JAMES E. ROSS* c/o The Select Sector SPDR Trust One Iron Street Boston, MA 02210 1965 | Trustee | Term: Indefinite Appointed: November 2005 Elected: October 2021 | Non-Executive Chairman, Fusion Acquisition Corp. (June 2020 - present); 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). | 132 | SSGA SPDR ETFs Europe I PLC (Director) (November 2016 - March 2020); SSGA SPDR ETFs Europe II PLC (Director) (November 2016 - March 2020); State Street Navigator Securities Lending Trust (July 2016 - March 2020); SSGA Funds (January 2014 - March 2020); State Street Institutional Investment Trust (February 2007 - March 2020); State Street Master Funds (February 2007 - March 2020); Elfun Funds (July 2016 - December 2018). | |||||
RORY TOBIN* c/o The Select Sector SPDR Trust One Iron Street Boston, MA 02210 1965 | Trustee | Term: Indefinite Elected: October 2021 | Executive Vice President and Head of Business EMEA, Head of Global SPDR ETF, Member of the SSGA Global Executive Management Group. | 11 | None | |||||
† 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. | ||||||||||
* Mr. Ross and Mr. Tobin are each an “interested person” of the Trust, as defined in the 1940 Act. Mr. Ross is an “interested person”, because of his former position with the Adviser and ownership interest in an affiliate of the Adviser. Mr. Tobin is an “interested person” because of his position with an affiliate of the Adviser. |
Name, Address and Year of Birth | Position(s) with Trust | 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 and Deputy Treasurer | Term: Indefinite Elected: May 2023 | Chief Operating Officer, SSGA Funds Management, Inc. (April 2005 - present)*; Managing Director, State Street Global Advisors (April 2005 - present).* | |||
MICHAEL P. RILEY SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1969 | Vice President | Term: Indefinite Elected: February 2005 | Managing Director, State Street Global Advisors (2005 - present).* | |||
CHAD C. HALLETT SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1969 | Treasurer and Principal Financial Officer | Term: Indefinite Elected: November 2007 | Vice President, State Street Global Advisors and SSGA Funds Management, Inc. (November 2014 - present); Vice President, State Street Bank and Trust Company (2001 - November 2014).* | |||
E. GERARD MAIORANA, JR. SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1971 | Assistant Secretary | Term: Indefinite Elected: May 2023 | Assistant Vice President, State Street Global Advisors (July 2014 - present) | |||
BRUCE S. ROSENBERG SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1961 | Deputy Treasurer | Term: Indefinite Elected: February 2016 | Managing Director, State Street Global Advisors and SSGA Funds Management, Inc. (July 2015 - present); Director, Credit Suisse (April 2008 - July 2015). | |||
DARLENE ANDERSON-VASQUEZ SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1968 | Deputy Treasurer | Term: Indefinite Elected: February 2017 | 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: Indefinite Elected: November 2017 | Vice President, State Street Global Advisors and SSGA Funds Management, Inc. (July 2016 - present); Mutual Funds Controller, GE Asset Management Incorporated (April 2011 - July 2016). | |||
DAVID LANCASTER SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1971 | Assistant Treasurer | Term: Indefinite Elected: 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).* | |||
JOHN BETTENCOURT SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1976 | Assistant Treasurer | Term: Indefinite Elected: May 2022 | Vice President, State Street Global Advisors ( 2007 - present); State Street Bank and Trust (1999 - 2007). | |||
SEAN O’MALLEY SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1969 | Chief Legal Officer | Term: Indefinite Elected: August 2019 | Senior Vice President and Deputy General Counsel, State Street Global Advisors (November 2013 - present). | |||
DAVID BARR SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1974 | Assistant Secretary | Term: Indefinite Elected: November 2020 | Vice President and Senior Counsel, State Street Global Advisors (October 2019 - present); Vice President and Council, Eaton Vance Corp. (October 2010 - October 2019). |
Name, Address and Year of Birth | Position(s) with Trust | Term of Office and Length of Time Served | Principal Occupation(s) During the Past 5 Years | |||
DAVID URMAN SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1985 | Secretary | Term: Indefinite Elected: 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). | |||
BRIAN HARRIS SSGA Funds Management, Inc. One Iron Street Boston, MA 02210 1973 | Chief Compliance Officer; Anti- Money Laundering Officer and Code of Ethics Compliance Officer | Term: Indefinite Elected: November 2013 | Managing Director, State Street Global Advisors and SSGA Funds Management, Inc. (June 2013 - present)*. | |||
* Served in various capacities and/or with various affiliated entities during the noted time period. | ||||||
The Trust's Statement of Additional Information (SAI) includes additional information about the Funds' Trustees and is available, without charge, upon request and by calling 1-866-787-2257. |
One Iron Street
Boston, MA 02210
1290 Broadway, Suite 1100
Denver, Colorado 80203
One Congress Street
Boston, MA 02114
1111 Pennsylvania Avenue, NW
Washington, DC 20004
1350 Euclid Ave., Suite 800
Cleveland, OH 44115
(b) Not applicable.
Item 2. Code of Ethics.
As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party (the “Code of Ethics”). During the period covered by this report, no substantive amendments were made to the Code of Ethics. During the period covered by this report, the registrant did not grant any waivers, including any implicit waivers, from any provision of the Code of Ethics.
The Code of Ethics is attached hereto as Exhibit 13(a)(1).
Item 3. Audit Committee Financial Expert.
(a)(1) The Board of Trustees of the registrant has determined that the registrant has one Board member serving on the Audit Committee that possesses the attributes identified in Instructions 2(b) of Item 3 to Form N-CSR to qualify as an “audit committee financial expert.”
(2) Teresa S. Polley is the registrant’s audit committee financial expert. The Board has determined that the foregoing person is “independent” in that, (i) other than in her capacity as a member of the Audit Committee and the Board of Trustees of the registrant, she has not accepted, directly or indirectly, any consulting, advisory or other compensatory fee from the registrant, and (ii) she is not an “interested person” of the registrant as defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended (the “1940 Act”).
Item 4. Principal Accountant Fees and Services.
(a) Audit Fees.
For the fiscal year ended September 30, 2023, the aggregate audit fees billed for professional services rendered by Cohen & Company (“Cohen”), the Trust’s principal accountant, for the audit of the Trust’s annual financial statements or services normally provided by Cohen in connection with the Trust’s statutory and regulatory filings and engagements was $207,000.
For the fiscal year ended September 30, 2022, the aggregate audit fees billed for professional services rendered by Ernst & Young LLP (“E&Y”), the Trust’s principal accountant, for the audit of the Trust’s annual financial statements or services normally provided by E&Y in connection with the Trust’s statutory and regulatory filings and engagements was $218,196.
The nature of the services are (1) auditing of the statements of assets and liabilities, related statements of operations and changes in net assets, and the financial highlights of each series of the registrant; (2) auditing and reporting on the financial statements to be included in the amendment to the registrant’s registration statement on Form N-1A to be filed with the Securities and Exchange Commission; (3) review of the amendment to the registration statement; (4) issuance of a Report on Internal Control for inclusion in the registrant’s Form N-CSR and (5) Rule 17f-2 securities counts.
(b) Audit-Related Fees.
For the fiscal years ending September 30, 2023 and September 30, 2022, there were no fees for assurance and related services that were reasonably related to the performance of the audit of the Trust’s financial statements that were not reported under paragraph (a) of this Item.
(c) Tax Fees.
For the fiscal year ended September 30, 2023, the aggregate tax fees billed by Cohen for services related to the review of year-end distribution requirements was $25,000 .
For the fiscal year ended September 30, 2022, the aggregate tax fees billed by E&Y for services related to the review of year-end distribution requirements was $24,024.
(d) All Other Fees.
For the fiscal year ended September 30, 2023, there were no fees billed for professional services rendered by Cohen for products and services provided by Cohen to the Trust, other than the services reported in paragraphs (a) through (c).
For the fiscal years ended September 30, 2023, the aggregate fees for professional services rendered by Cohen for products and services provided by Cohen to the Adviser and any entity controlling, controlled by, or under common control with the Adviser that provides ongoing services to the Trust that (i) relate directly to the operations and financial reporting of the Trust and (ii) were pre-approved by the Audit Committee was $0.
For the fiscal year ended September 30, 2022, there were no fees billed for professional services rendered by E&Y for products and services provided by E&Y to the Trust, other than the services reported in paragraphs (a) through (c).
For the fiscal year ended September 30, 2022, the aggregate fees for professional services rendered by E&Y for products and services provided by E&Y to the Adviser and any entity controlling, controlled by, or under common control with the Adviser that provides ongoing services to the Trust that (i) relate directly to the operations and financial reporting of the Trust and (ii) were pre-approved by the Audit Committee was approximately $9,327,125.
(e)(1) Audit Committee Pre-Approval Policies and Procedures.
The registrant’s Audit Committee Charter states the following with respect to pre-approval procedures:
Before the independent auditors are engaged by the Trust to render audit or non-audit services, either:
(a) | The Audit Committee shall pre-approve all auditing services and permissible non-audit services (e.g., tax services) provided to the Trust. The Audit Committee may delegate to one or more of its members the authority to grant pre-approvals. Any decision of any member to whom authority is delegated under this section shall be presented to the full Audit Committee at its next regularly scheduled meeting; or |
(b) | The engagement to render the auditing service or permissible non-audit service is entered into pursuant to pre-approval policies and procedures established by the Audit Committee. Any such policies and procedures must (1) be detailed as to the particular service and (2) not involve any delegation of the Audit Committee’s responsibilities to the investment adviser. The Audit Committee must be informed of each service entered into pursuant to the policies and procedures. A copy of any such policies and procedures shall be attached as an exhibit to the Audit Committee Charter. |
(c) | De Minimis Exceptions to Pre-Approval Requirements. Pre-Approval for a service provided to the Trust other than audit, review or attest services is not required if: (1) the aggregate amount of all such non-audit services provided to the Trust constitutes not more than 5 percent of the total amount of revenues paid by the Trust to the independent auditors during the fiscal year in which the non-audit services are provided; (2) such services were not recognized by the Trust at the time of the engagement to be non-audit services; and (3) such services are promptly brought to the attention of the Audit Committee and are approved by the Audit Committee or by one or more members of the Audit Committee to whom authority to grant such approvals has been delegated by the Audit Committee prior to the completion of the audit. |
(d) | Pre-Approval of Non-Audit Services Provided to the investment adviser and Certain Control Persons. The Audit Committee shall pre-approve any non-audit services proposed to be provided by the independent auditors to (a) the investment adviser and (b) any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Trust, if the independent auditors’ engagement with the investment adviser or any such control persons relates directly to the operations and financial reporting of the Trust. It shall be the responsibility of the independent auditors to notify the Audit Committee of any non-audit services that need to be pre-approved. |
(e) | Application of De Minimis Exception. The De Minimis exception set forth above applies to pre-approvals under this Section as well, except that the “total amount of revenues” calculation is based on the total amount of revenues paid to the independent auditors by the Trust and any other entity that has its services approved under this Section (i.e., the investment adviser or any control person). |
(e)(2) Percentage of Services.
None of the services described in paragraphs (b) through (d) of this Item were performed in reliance on paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X during the period of time for which such rule was effective.
(f) Not applicable.
(g) Total Fees Paid By Adviser and Certain Affiliates
For the fiscal year ended September 30, 2023, the aggregate non-audit fees billed by Cohen and for the fiscal year ended September 30, 2022, the aggregate non-audit fees billed by E&Y, for services rendered to the Trust and the Adviser and any entity controlling, controlled by, or under common control with the Adviser that provided ongoing services to the Trust were as follows:
FY 2023 (in millions) | FY 2022 (in millions) | |||||||
Non audit services billed to: | ||||||||
Registrant: | See Item 4 | (c) | See Item 4 | (c) | ||||
Investment Adviser: | — | — | ||||||
Other entities in the Investment Company Complex (1)(2): | ||||||||
Audit Related Fees | $ | 0 | $ | 18.1 | ||||
Tax Fees | $ | 0 | $ | 5.4 | ||||
All Other Fees | $ | 0 | $ | 14.5 |
(1) | Information is for the calendar years 2023 and 2022, respectively. |
(2) | Services under the caption Audit-Related Fees consisted principally of reports on the processing of transactions by servicing organizations, audits of employee benefit plan, non-statutory audits and due diligence procedures. Services under the caption Tax Fees consisted principally of expatriate, compliance and corporate tax advisory services. Services under the caption All Other Fees primarily related to statutory and financial statement audits and the requirement to opine on the design and operating effectiveness of internal control over financial reporting. |
(h) The registrant’s principal accountant notified the registrant’s Audit Committee of all non-audit services that were rendered by the principal accountant to the registrant’s adviser and any entity controlling, controlled by, or under common control with the adviser that provides services to the registrant, which services were not required to be pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, allowing the registrant’s Audit Committee to consider whether such services were compatible with maintaining the principal accountant’s independence.
(i) Not applicable.
(j) Not applicable.
Item 5. Audit Committee of Listed Registrants.
The registrant has an audit committee which was established by the Board of Trustees of the registrant in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934, as amended (the “1934 Act”). The members of the registrant’s audit committee are Ashley T. Rabun, Allison Grant Williams, Sheila Hartnett-Devlin, James Jessee, Teresa Polley and R. Charles Tschampion.
Item 6. Schedule of Investments.
(a) | The schedule of investments is included as part of the reports to shareholders filed under Item 1 of this Form N-CSR. |
(b) | Not applicable to the registrant. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable to the registrant.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable to the registrant.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable to the registrant.
Item 10. Submission of Matters to a Vote of Security Holders.
The registrant has not adopted any material changes to the procedures by which shareholders may recommend nominees to the registrant’s Board.
Item 11. Controls and Procedures.
(a) Within 90 days of the filing date of this Form N-CSR, Ann M. Carpenter the registrant’s President and Principal Executive Officer, and Chad C. Hallett, the registrant’s Treasurer and Principal Financial Officer, reviewed the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) and evaluated their effectiveness. Based on their review, Ann M. Carpenter and Mr. Hallett determined that the disclosure controls and procedures adequately ensure that information required to be disclosed by the registrant in its periodic reports is recorded, processed, summarized and reported within the time periods required by the U.S. Securities and Exchange Commission.
(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
(a) Not applicable to the registrant.
(b) Not applicable to the registrant.
Item 13. Exhibits.
(a)(1) Code of Ethics referred to in Item 2. |
(a)(3) Not applicable to the registrant. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
The Select Sector SPDR�� Trust | ||
By: | /s/ Ann M. Carpenter | |
Ann M. Carpenter | ||
President and Principal Executive Officer | ||
Date: | December 6, 2023 |
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940, as amended, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Ann M. Carpenter | |
Ann M. Carpenter | ||
President and Principal Executive Officer | ||
By: | /s/ Chad C. Hallett | |
Chad C. Hallett | ||
Treasurer and Principal Financial Officer | ||
Date: | December 6, 2023 |