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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-08839
SPDR® SERIES TRUST
(Exact name of registrant as specified in charter)
One Lincoln Street, Boston, MA 02111
(Address of principal executive offices) (zip code)
Ryan M. Louvar, Esq.
State Street Bank and Trust Company
One Lincoln Street
Boston, MA 02111
(Name and address of agent for service)
Copy to:
W. John McGuire, Esq.
Morgan, Lewis and Bockius LLP
1111 Pennsylvania Ave., NW
Washington, DC 20004
Registrant’s telephone number, including area code: (866) 787-2257
Date of fiscal year end: June 30
Date of reporting period: December 31, 2010
TABLE OF CONTENTS
Table of Contents
Item 1: Reports to Shareholders
Table of Contents
SPDR® Series Trust – Equity Funds
Semi-Annual Report December 31, 2010
![]() | Precise in a world that isn’t.SM |
Table of Contents
TABLE OF CONTENTS
Performance & Portfolio Summary | ||
SPDR Dow Jones Total Market ETF (TMW) | 1 | |
SPDR Dow Jones Large Cap ETF (ELR) | 4 | |
SPDR S&P® 500 Growth ETF (SPYG) (formerly SPDR Dow Jones Large Cap Growth ETF (ELG)) | 7 | |
SPDR S&P 500 Value ETF (SPYV) (formerly SPDR Dow Jones Large Cap Value ETF (ELV)) | 10 | |
SPDR Dow Jones Mid Cap ETF (EMM) | 13 | |
SPDR S&P 400 Mid Cap Growth ETF (MDYG) (formerly SPDR Dow Jones Mid Cap Growth ETF (EMG)) | 16 | |
SPDR S&P 400 Mid Cap Value ETF (MDYV) (formerly SPDR Dow Jones Mid Cap Value ETF (EMV)) | 19 | |
SPDR S&P 600 Small Cap ETF (SLY) (formerly SPDR Dow Jones Small Cap ETF (DSC)) | 22 | |
SPDR S&P 600 Small Cap Growth ETF (SLYG) (formerly SPDR Dow Jones Small Cap Growth ETF (DSG)) | 25 | |
SPDR S&P 600 Small Cap Value ETF (SLYV) (formerly SPDR Dow Jones Small Cap Value ETF (DSV)) | 28 | |
SPDR DJ Global Titans ETF (DGT) | 31 | |
SPDR Dow Jones REIT ETF (RWR) | 34 | |
SPDR KBW Bank ETF (KBE) | 37 | |
SPDR KBW Capital Markets ETF (KCE) | 40 | |
SPDR KBW Insurance ETF (KIE) | 43 | |
SPDR KBW Mortgage Finance(sm) ETF (KME) | 46 | |
SPDR KBW Regional Banking(sm) ETF (KRE) | 49 | |
SPDR Morgan Stanley Technology ETF (MTK) | 52 | |
SPDR S&P Dividend ETF (SDY) | 55 | |
SPDR S&P Biotech ETF (XBI) | 58 | |
SPDR S&P Homebuilders ETF (XHB) | 61 | |
SPDR S&P Metals & Mining ETF (XME) | 64 | |
SPDR S&P Oil & Gas Equipment & Services ETF (XES) | 67 | |
SPDR S&P Oil & Gas Exploration & Production ETF (XOP) | 70 | |
SPDR S&P Pharmaceuticals ETF (XPH) | 73 | |
SPDR S&P Retail ETF (XRT) | 76 | |
SPDR S&P Semiconductor ETF (XSD) | 79 | |
SPDR Wells Fargo® Preferred Stock ETF (PSK) | 82 | |
Summary Schedules of Investments | ||
SPDR Dow Jones Total Market ETF (TMW) | 85 | |
SPDR Dow Jones Large Cap ETF (ELR) | 88 | |
SPDR S&P 500 Growth ETF (SPYG) | 91 | |
SPDR S&P 500 Value ETF (SPYV) | 94 | |
SPDR Dow Jones Mid Cap ETF (EMM) | 97 | |
SPDR S&P 400 Mid Cap Growth ETF (MDYG) | 100 | |
SPDR S&P 400 Mid Cap Value ETF (MDYV) | 103 | |
SPDR S&P 600 Small Cap ETF (SLY) | 106 | |
SPDR S&P 600 Small Cap Growth ETF (SLYG) | 109 | |
SPDR S&P 600 Small Cap Value ETF (SLYV) | 112 |
Table of Contents
Schedules of Investments | ||
SPDR DJ Global Titans ETF (DGT) | 115 | |
SPDR Dow Jones REIT ETF (RWR) | 116 | |
SPDR KBW Bank ETF (KBE) | 118 | |
SPDR KBW Capital Markets ETF (KCE) | 119 | |
SPDR KBW Insurance ETF (KIE) | 120 | |
SPDR KBW Mortgage Finance ETF (KME) | 121 | |
SPDR KBW Regional Banking ETF (KRE) | 122 | |
SPDR Morgan Stanley Technology ETF (MTK) | 123 | |
SPDR S&P Dividend ETF (SDY) | 124 | |
SPDR S&P Biotech ETF (XBI) | 126 | |
SPDR S&P Homebuilders ETF (XHB) | 127 | |
SPDR S&P Metals & Mining ETF (XME) | 128 | |
SPDR S&P Oil & Gas Equipment & Services ETF (XES) | 129 | |
SPDR S&P Oil & Gas Exploration & Production ETF (XOP) | 130 | |
SPDR S&P Pharmaceuticals ETF (XPH) | 131 | |
SPDR S&P Retail ETF (XRT) | 132 | |
SPDR S&P Semiconductor ETF (XSD) | 134 | |
SPDR Wells Fargo Preferred Stock ETF (PSK) | 135 | |
Financial Statements | 138 | |
Financial Highlights | 162 | |
Notes to Financial Statements | 188 | |
Other Information | 203 |
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SPDR Dow Jones Total Market ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Dow Jones Total Market ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.20%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
DOW JONES | DOW JONES | |||||||||||||||||||||||
NET ASSET | MARKET | U.S. TOTAL STOCK | NET ASSET | MARKET | U.S. TOTAL STOCK | |||||||||||||||||||
VALUE | VALUE | MARKET INDEX | VALUE | VALUE | MARKET INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 24.03% | 24.14% | 24.52% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 16.98% | 17.14% | 17.49% | 16.98% | 17.14% | 17.49% | ||||||||||||||||||
THREE YEARS | −5.30% | −5.57% | −5.18% | −1.80% | −1.89% | −1.76% | ||||||||||||||||||
FIVE YEARS | 14.74% | 14.61% | 15.94% | 2.79% | 2.77% | 3.00% | ||||||||||||||||||
TEN YEARS (1) | 20.88% | 20.93% | 28.66% | 1.91% | 1.92% | 2.55% | ||||||||||||||||||
(1) | Effective June 14, 2005, the Fund changed its benchmark index to the Dow Jones U.S. Total Stock Market Index from the FORTUNE 500 Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. |
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SPDR Dow Jones Total Market ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![LINE GRAPH](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370201.gif)
(1) | Effective June 14, 2005, the Fund changed its benchmark index to the Dow Jones U.S. Total Stock Market Index from the FORTUNE 500 Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. |
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SPDR Dow Jones Total Market ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
DESCRIPTION | EXXON MOBIL CORP. | APPLE, INC. | MICROSOFT CORP. | GENERAL ELECTRIC CO. | CHEVRON CORP. | |||||
MARKET VALUE | $5,459,285 | 4,263,598 | 3,218,618 | 2,863,958 | 2,695,525 | |||||
% OF NET ASSETS | 2.7 | 2.1 | 1.6 | 1.4 | 1.3 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Oil, Gas & Consumable Fuels | 9.1 | % | ||||
Pharmaceuticals | 4.6 | |||||
Software | 4.1 | |||||
Computers & Peripherals | 4.0 | |||||
Insurance | 4.0 | |||||
Diversified Financial Services | 3.5 | |||||
Media | 3.1 | |||||
Commercial Banks | 2.9 | |||||
Semiconductors & Semiconductor Equipment | 2.9 | |||||
IT Services | 2.7 | |||||
Machinery | 2.7 | |||||
Diversified Telecommunication Services | 2.4 | |||||
Real Estate Investment Trusts | 2.4 | |||||
Aerospace & Defense | 2.3 | |||||
Capital Markets | 2.3 | |||||
Communications Equipment | 2.3 | |||||
Energy Equipment & Services | 2.3 | |||||
Specialty Retail | 2.3 | |||||
Health Care Providers & Services | 2.2 | |||||
Hotels, Restaurants & Leisure | 2.1 | |||||
Beverages | 2.0 | |||||
Chemicals | 2.0 | |||||
Food & Staples Retailing | 2.0 | |||||
Health Care Equipment & Supplies | 2.0 | |||||
Industrial Conglomerates | 2.0 | |||||
Household Products | 1.9 | |||||
Biotechnology | 1.7 | |||||
Food Products | 1.7 | |||||
Internet Software & Services | 1.7 | |||||
Electric Utilities | 1.6 | |||||
Metals & Mining | 1.4 | |||||
Tobacco | 1.4 | |||||
Electronic Equipment, Instruments & Components | 1.0 | |||||
Multi-Utilities | 1.0 | |||||
Road & Rail | 1.0 | |||||
Air Freight & Logistics | 0.9 | |||||
Multiline Retail | 0.9 | |||||
Electrical Equipment | 0.7 | |||||
Household Durables | 0.7 | |||||
Internet & Catalog Retail | 0.7 | |||||
Commercial Services & Supplies | 0.6 | |||||
Consumer Finance | 0.6 | |||||
Life Sciences Tools & Services | 0.6 | |||||
Textiles, Apparel & Luxury Goods | 0.6 | |||||
Automobiles | 0.5 | |||||
Wireless Telecommunication Services | 0.5 | |||||
Auto Components | 0.4 | |||||
Construction & Engineering | 0.3 | |||||
Diversified Consumer Services | 0.3 | |||||
Paper & Forest Products | 0.3 | |||||
Thrifts & Mortgage Finance | 0.3 | |||||
Airlines | 0.2 | |||||
Containers & Packaging | 0.2 | |||||
Independent Power Producers & Energy Traders | 0.2 | |||||
Leisure Equipment & Products | 0.2 | |||||
Office Electronics | 0.2 | |||||
Personal Products | 0.2 | |||||
Professional Services | 0.2 | |||||
Trading Companies & Distributors | 0.2 | |||||
Building Products | 0.1 | |||||
Construction Materials | 0.1 | |||||
Distributors | 0.1 | |||||
Gas Utilities | 0.1 | |||||
Real Estate Management & Development | 0.1 | |||||
Water Utilities | 0.1 | |||||
Health Care Technology | 0.0 | ** | ||||
Marine | 0.0 | ** | ||||
Short Term Investments | 4.6 | |||||
Other Assets & Liabilities | (4.3 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Amount represents less than 0.05% of net assets. |
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SPDR Dow Jones Large Cap ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (11/8/05, 11/15/05, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Dow Jones Large Cap ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.20%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
DOW JONES U.S. | DOW JONES U.S. | |||||||||||||||||||||||
LARGE-CAP | LARGE-CAP | |||||||||||||||||||||||
NET ASSET | MARKET | TOTAL STOCK | NET ASSET | MARKET | TOTAL STOCK | |||||||||||||||||||
VALUE | VALUE | MARKET INDEX | VALUE | VALUE | MARKET INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 23.61% | 23.76% | 23.83% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 15.84% | 16.01% | 16.07% | 15.84% | 16.01% | 16.07% | ||||||||||||||||||
THREE YEARS | −7.24% | −7.01% | −7.23% | −2.47% | −2.39% | −2.47% | ||||||||||||||||||
FIVE YEARS | 13.68% | 13.81% | 14.13% | 2.60% | 2.62% | 2.68% | ||||||||||||||||||
SINCE INCEPTION (1) | 16.84% | 16.93% | 17.33% | 3.07% | 3.08% | 3.14% | ||||||||||||||||||
(1) | For the period November 8, 2005 to December 31, 2010. |
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SPDR Dow Jones Large Cap ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![LINE GRAPH](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370202.gif)
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SPDR Dow Jones Large Cap ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
DESCRIPTION | EXXON MOBIL CORP. | APPLE, INC. | MICROSOFT CORP. | GENERAL ELECTRIC CO. | CHEVRON CORP. | |||||
MARKET VALUE | $1,223,663 | 978,002 | 706,655 | 647,374 | 606,904 | |||||
% OF NET ASSETS | 3.0 | 2.4 | 1.7 | 1.6 | 1.5 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Oil, Gas & Consumable Fuels | 9.5 | % | ||||
Pharmaceuticals | 5.1 | |||||
Insurance | 4.1 | |||||
Computers & Peripherals | 4.1 | |||||
Diversified Financial Services | 4.0 | |||||
Software | 3.9 | |||||
IT Services | 3.1 | |||||
Media | 3.1 | |||||
Commercial Banks | 2.8 | |||||
Diversified Telecommunication Services | 2.6 | |||||
Semiconductors & Semiconductor Equipment | 2.5 | |||||
Capital Markets | 2.5 | |||||
Aerospace & Defense | 2.3 | |||||
Chemicals | 2.3 | |||||
Energy Equipment & Services | 2.3 | |||||
Machinery | 2.3 | |||||
Beverages | 2.3 | |||||
Industrial Conglomerates | 2.3 | |||||
Food & Staples Retailing | 2.2 | |||||
Household Products | 2.1 | |||||
Communications Equipment | 2.0 | |||||
Health Care Equipment & Supplies | 2.0 | |||||
Specialty Retail | 2.0 | |||||
Health Care Providers & Services | 1.9 | |||||
Hotels, Restaurants & Leisure | 1.9 | |||||
Real Estate Investment Trusts | 1.8 | |||||
Electric Utilities | 1.7 | |||||
Food Products | 1.7 | |||||
Internet Software & Services | 1.7 | |||||
Tobacco | 1.5 | |||||
Biotechnology | 1.4 | |||||
Metals & Mining | 1.3 | |||||
Multi-Utilities | 1.3 | |||||
Road & Rail | 0.9 | |||||
Electronic Equipment, Instruments & Components | 0.9 | |||||
Internet & Catalog Retail | 0.8 | |||||
Air Freight & Logistics | 0.8 | |||||
Multiline Retail | 0.8 | |||||
Automobiles | 0.7 | |||||
Consumer Finance | 0.7 | |||||
Electrical Equipment | 0.7 | |||||
Commercial Services & Supplies | 0.5 | |||||
Wireless Telecommunication Services | 0.5 | |||||
Life Sciences Tools & Services | 0.5 | |||||
Household Durables | 0.5 | |||||
Textiles, Apparel & Luxury Goods | 0.5 | |||||
Auto Components | 0.4 | |||||
Construction & Engineering | 0.3 | |||||
Containers & Packaging | 0.3 | |||||
Personal Products | 0.2 | |||||
Airlines | 0.2 | |||||
Professional Services | 0.2 | |||||
Gas Utilities | 0.2 | |||||
Paper & Forest Products | 0.2 | |||||
Independent Power Producers & Energy Traders | 0.2 | |||||
Thrifts & Mortgage Finance | 0.2 | |||||
Trading Companies & Distributors | 0.2 | |||||
Diversified Consumer Services | 0.1 | |||||
Office Electronics | 0.1 | |||||
Leisure Equipment & Products | 0.1 | |||||
Real Estate Management & Development | 0.1 | |||||
Construction Materials | 0.1 | |||||
Distributors | 0.1 | |||||
Building Products | 0.1 | |||||
Water Utilities | 0.1 | |||||
Health Care Technology | 0.1 | |||||
Short Term Investments | 7.3 | |||||
Other Assets & Liabilities | (7.2 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR S&P 500 Growth ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P 500 Growth ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.20%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||||||||||
DOW JONES U.S. | DOW JONES U.S. | |||||||||||||||||||||||||||||||
LARGE-CAP | LARGE-CAP | |||||||||||||||||||||||||||||||
GROWTH TOTAL | GROWTH TOTAL | S&P 500 | ||||||||||||||||||||||||||||||
NET ASSET | MARKET | STOCK MARKET | S&P 500 | NET ASSET | MARKET | STOCK MARKET | GROWTH | |||||||||||||||||||||||||
VALUE | VALUE | INDEX | GROWTH INDEX | VALUE | VALUE | INDEX | INDEX | |||||||||||||||||||||||||
SIX MONTHS ENDED (1) | 26.25% | 26.31% | 26.91% | 25.04% | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
ONE YEAR (1) | 16.34% | 16.39% | 17.03% | 15.05% | 16.34% | 16.39% | 17.03% | 15.05% | ||||||||||||||||||||||||
THREE YEARS (1) | −0.28% | −0.60% | 0.50% | −1.49% | −0.09% | −0.20% | 0.17% | −0.50% | ||||||||||||||||||||||||
FIVE YEARS (1) | 20.33% | 20.33% | 21.73% | 19.33% | 3.77% | 3.77% | 4.01% | 3.60% | ||||||||||||||||||||||||
TEN YEARS (1) | −14.57% | −14.60% | 5.95% | −1.05% | −1.56% | −1.57% | 0.58% | −0.11% | ||||||||||||||||||||||||
(1) | Effective December 17, 2010, the Fund has changed its benchmark index to the S&P 500 Growth Index from the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. |
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SPDR S&P 500 Growth ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370203.gif)
(1) | Effective December 17, 2010, the Fund has changed its benchmark index to the S&P 500 Growth Index from the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. |
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SPDR S&P 500 Growth ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
INTERNATIONAL BUSINESS | ||||||||||
DESCRIPTION | APPLE, INC. | MICROSOFT CORP. | MACHINES CORP. | THE COCA-COLA CO. | GOOGLE, INC. (CLASS A) | |||||
MARKET VALUE | $9,602,934 | 6,835,347 | 5,929,104 | 4,965,635 | 4,817,691 | |||||
% OF NET ASSETS | 5.0 | 3.6 | 3.1 | 2.6 | 2.5 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Software | 7.5 | % | ||||
Computers & Peripherals | 7.5 | |||||
Pharmaceuticals | 6.0 | |||||
IT Services | 5.1 | |||||
Beverages | 4.8 | |||||
Media | 4.0 | |||||
Oil, Gas & Consumable Fuels | 3.7 | |||||
Semiconductors & Semiconductor Equipment | 3.6 | |||||
Internet Software & Services | 3.5 | |||||
Energy Equipment & Services | 3.5 | |||||
Hotels, Restaurants & Leisure | 3.1 | |||||
Communications Equipment | 3.1 | |||||
Machinery | 3.1 | |||||
Aerospace & Defense | 2.9 | |||||
Household Products | 2.5 | |||||
Chemicals | 2.4 | |||||
Diversified Telecommunication Services | 2.4 | |||||
Tobacco | 2.3 | |||||
Health Care Equipment & Supplies | 2.3 | |||||
Biotechnology | 2.1 | |||||
Specialty Retail | 1.8 | |||||
Real Estate Investment Trusts | 1.8 | |||||
Metals & Mining | 1.7 | |||||
Internet & Catalog Retail | 1.6 | |||||
Health Care Providers & Services | 1.6 | |||||
Food Products | 1.6 | |||||
Commercial Banks | 1.4 | |||||
Capital Markets | 1.1 | |||||
Textiles, Apparel & Luxury Goods | 1.0 | |||||
Air Freight & Logistics | 1.0 | |||||
Multiline Retail | 0.9 | |||||
Road & Rail | 0.9 | |||||
Electronic Equipment, Instruments & Components | 0.8 | |||||
Industrial Conglomerates | 0.7 | |||||
Electrical Equipment | 0.7 | |||||
Automobiles | 0.7 | |||||
Life Sciences Tools & Services | 0.6 | |||||
Consumer Finance | 0.4 | |||||
Wireless Telecommunication Services | 0.4 | |||||
Commercial Services & Supplies | 0.4 | |||||
Personal Products | 0.4 | |||||
Trading Companies & Distributors | 0.3 | |||||
Insurance | 0.3 | |||||
Diversified Financial Services | 0.3 | |||||
Multi-Utilities | 0.2 | |||||
Electric Utilities | 0.2 | |||||
Leisure Equipment & Products | 0.2 | |||||
Household Durables | 0.2 | |||||
Professional Services | 0.1 | |||||
Diversified Consumer Services | 0.1 | |||||
Food & Staples Retailing | 0.1 | |||||
Construction & Engineering | 0.1 | |||||
Health Care Technology | 0.1 | |||||
Containers & Packaging | 0.1 | |||||
Real Estate Management & Development | 0.1 | |||||
Airlines | 0.1 | |||||
Thrifts & Mortgage Finance | 0.1 | |||||
Short Term Investments | 1.7 | |||||
Other Assets & Liabilities | (1.2 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR S&P 500 Value ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P 500 Value ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.20%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||||||||||
DOW JONES U.S. | DOW JONES U.S. | |||||||||||||||||||||||||||||||
LARGE-CAP VALUE | LARGE-CAP VALUE | S&P 500 | ||||||||||||||||||||||||||||||
NET ASSET | MARKET | TOTAL STOCK | S&P 500 VALUE | NET ASSET | MARKET | TOTAL STOCK | VALUE | |||||||||||||||||||||||||
VALUE | VALUE | MARKET INDEX | INDEX | VALUE | VALUE | MARKET INDEX | INDEX | |||||||||||||||||||||||||
SIX MONTHS ENDED (1) | 21.38% | 21.53% | 21.08% | 21.54% | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
ONE YEAR (1) | 15.39% | 15.47% | 15.16% | 15.10% | 15.39% | 15.47% | 15.16% | 15.10% | ||||||||||||||||||||||||
THREE YEARS (1) | −14.13% | −13.97% | −14.45% | −15.23% | −4.95% | −4.89% | −5.07% | −5.36% | ||||||||||||||||||||||||
FIVE YEARS (1) | 6.14% | 6.15% | 6.17% | 4.44% | 1.20% | 1.20% | 1.21% | 0.87% | ||||||||||||||||||||||||
TEN YEARS (1) | 22.73% | 22.81% | 34.25% | 30.39% | 2.07% | 2.08% | 2.99% | 2.69% | ||||||||||||||||||||||||
(1) | Effective December 17, 2010, the Fund has changed its benchmark index to the S&P 500 Value Index from the Dow Jones U.S. Large-Cap Value Total Stock Market Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. |
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SPDR S&P 500 Value ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370204.gif)
(1) | Effective December 17, 2010, the Fund has changed its benchmark index to the S&P 500 Value Index from the Dow Jones U.S. Large-Cap Value Total Stock Market Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. |
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SPDR S&P 500 Value ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
EXXON MOBIL | GENERAL | CHEVRON | JPMORGAN | PFIZER, | ||||||
DESCRIPTION | CORP. | ELECTRIC CO. | CORP. | CHASE & CO. | INC. | |||||
MARKET VALUE | $11,064,226 | 5,847,404 | 5,511,865 | 4,974,763 | 4,208,178 | |||||
% OF NET ASSETS | 6.6 | 3.5 | 3.3 | 3.0 | 2.5 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Oil, Gas & Consumable Fuels | 16.3 | % | ||||
Diversified Financial Services | 8.5 | |||||
Insurance | 7.7 | |||||
Pharmaceuticals | 4.8 | |||||
Food & Staples Retailing | 4.7 | |||||
Commercial Banks | 4.6 | |||||
Industrial Conglomerates | 4.3 | |||||
Capital Markets | 4.1 | |||||
Electric Utilities | 3.4 | |||||
Diversified Telecommunication Services | 3.1 | |||||
Aerospace & Defense | 2.4 | |||||
Multi-Utilities | 2.4 | |||||
Health Care Providers & Services | 2.3 | |||||
Specialty Retail | 2.2 | |||||
Media | 2.1 | |||||
Household Products | 1.9 | |||||
Food Products | 1.9 | |||||
Chemicals | 1.7 | |||||
Machinery | 1.5 | |||||
Semiconductors & Semiconductor Equipment | 1.4 | |||||
Communications Equipment | 1.3 | |||||
Computers & Peripherals | 1.2 | |||||
Air Freight & Logistics | 1.2 | |||||
Consumer Finance | 1.0 | |||||
Health Care Equipment & Supplies | 1.0 | |||||
Real Estate Investment Trusts | 1.0 | |||||
Tobacco | 0.8 | |||||
Energy Equipment & Services | 0.8 | |||||
Road & Rail | 0.8 | |||||
Metals & Mining | 0.7 | |||||
Multiline Retail | 0.7 | |||||
Household Durables | 0.7 | |||||
IT Services | 0.6 | |||||
Commercial Services & Supplies | 0.5 | |||||
Automobiles | 0.5 | |||||
Auto Components | 0.5 | |||||
Biotechnology | 0.5 | |||||
Paper & Forest Products | 0.5 | |||||
Electrical Equipment | 0.3 | |||||
Independent Power Producers & Energy Traders | 0.3 | |||||
Electronic Equipment, Instruments & Components | 0.3 | |||||
Software | 0.3 | |||||
Office Electronics | 0.3 | |||||
Internet Software & Services | 0.3 | |||||
Construction & Engineering | 0.3 | |||||
Hotels, Restaurants & Leisure | 0.2 | |||||
Wireless Telecommunication Services | 0.2 | |||||
Beverages | 0.2 | |||||
Containers & Packaging | 0.2 | |||||
Life Sciences Tools & Services | 0.2 | |||||
Gas Utilities | 0.1 | |||||
Thrifts & Mortgage Finance | 0.1 | |||||
Distributors | 0.1 | |||||
Construction Materials | 0.1 | |||||
Airlines | 0.1 | |||||
Professional Services | 0.1 | |||||
Building Products | 0.1 | |||||
Leisure Equipment & Products | 0.1 | |||||
Diversified Consumer Services | 0.1 | |||||
Textiles, Apparel & Luxury Goods | 0.1 | |||||
Short Term Investments | 2.4 | |||||
Other Assets & Liabilities | (2.1 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR Dow Jones Mid Cap ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (11/8/05, 11/15/05, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Dow Jones Mid Cap ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.25%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
DOW JONES | DOW JONES | |||||||||||||||||||||||
U.S. MID-CAP | U.S. MID-CAP | |||||||||||||||||||||||
NET ASSET | MARKET | TOTAL STOCK | NET ASSET | MARKET | TOTAL STOCK | |||||||||||||||||||
VALUE | VALUE | MARKET INDEX | VALUE | VALUE | MARKET INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 27.75% | 27.98% | 27.99% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 25.01% | 25.21% | 25.39% | 25.01% | 25.21% | 25.39% | ||||||||||||||||||
THREE YEARS | 10.45% | 10.33% | 10.81% | 3.37% | 3.33% | 3.48% | ||||||||||||||||||
FIVE YEARS | 32.10% | 31.72% | 32.81% | 5.73% | 5.66% | 5.84% | ||||||||||||||||||
SINCE INCEPTION (1) | 37.88% | 38.05% | 38.67% | 6.44% | 6.46% | 6.56% | ||||||||||||||||||
(1) | For the period November 8, 2005 to December 31, 2010. |
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SPDR Dow Jones Mid Cap ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370205.gif)
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SPDR Dow Jones Mid Cap ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
CONCHO | UNITED CONTINENTAL | ALEXION | ||||||||
DESCRIPTION | RESOURCES, INC. | BORGWARNER, INC. | TIFFANY & CO. | HOLDINGS, INC. | PHARMACEUTICALS, INC. | |||||
MARKET VALUE | $314,998 | 314,621 | 300,204 | 287,483 | 275,239 | |||||
% OF NET ASSETS | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Real Estate Investment Trusts | 7.0 | % | ||||
Insurance | 5.9 | |||||
Machinery | 4.4 | |||||
Specialty Retail | 4.4 | |||||
Oil, Gas & Consumable Fuels | 4.3 | |||||
Software | 3.5 | |||||
Commercial Banks | 3.2 | |||||
Chemicals | 3.0 | |||||
Semiconductors & Semiconductor Equipment | 3.0 | |||||
Electronic Equipment, Instruments & Components | 2.6 | |||||
Energy Equipment & Services | 2.6 | |||||
Capital Markets | 2.5 | |||||
Household Durables | 2.5 | |||||
Health Care Equipment & Supplies | 2.4 | |||||
Health Care Providers & Services | 2.4 | |||||
Media | 2.3 | |||||
Multi-Utilities | 2.3 | |||||
Electric Utilities | 2.2 | |||||
Commercial Services & Supplies | 2.1 | |||||
Containers & Packaging | 2.1 | |||||
Biotechnology | 2.0 | |||||
Hotels, Restaurants & Leisure | 2.0 | |||||
Metals & Mining | 2.0 | |||||
Gas Utilities | 1.8 | |||||
Professional Services | 1.7 | |||||
Auto Components | 1.6 | |||||
Construction & Engineering | 1.6 | |||||
IT Services | 1.6 | |||||
Electrical Equipment | 1.5 | |||||
Food Products | 1.5 | |||||
Communications Equipment | 1.3 | |||||
Road & Rail | 1.2 | |||||
Life Sciences Tools & Services | 1.1 | |||||
Computers & Peripherals | 1.0 | |||||
Internet Software & Services | 1.0 | |||||
Pharmaceuticals | 1.0 | |||||
Industrial Conglomerates | 0.9 | |||||
Airlines | 0.8 | |||||
Diversified Consumer Services | 0.8 | |||||
Wireless Telecommunication Services | 0.8 | |||||
Aerospace & Defense | 0.7 | |||||
Real Estate Management & Development | 0.7 | |||||
Diversified Financial Services | 0.6 | |||||
Textiles, Apparel & Luxury Goods | 0.6 | |||||
Beverages | 0.5 | |||||
Building Products | 0.5 | |||||
Paper & Forest Products | 0.5 | |||||
Personal Products | 0.5 | |||||
Thrifts & Mortgage Finance | 0.5 | |||||
Water Utilities | 0.5 | |||||
Construction Materials | 0.3 | |||||
Diversified Telecommunication Services | 0.3 | |||||
Food & Staples Retailing | 0.3 | |||||
Household Products | 0.3 | |||||
Distributors | 0.2 | |||||
Health Care Technology | 0.2 | |||||
Marine | 0.2 | |||||
Trading Companies & Distributors | 0.2 | |||||
Air Freight & Logistics | 0.1 | |||||
Multiline Retail | 0.1 | |||||
Office Electronics | 0.1 | |||||
Consumer Finance | 0.0 | ** | ||||
Short Term Investments | 27.9 | |||||
Other Assets & Liabilities | (27.7 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Amount shown represents less than 0.05% of net assets. |
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SPDR S&P 400 Mid Cap Growth ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (11/8/05, 11/15/05, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P 400 Mid Cap Growth ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.25%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||||||||||
DOW JONES U.S. | DOW JONES U.S. | S&P | ||||||||||||||||||||||||||||||
MID-CAP GROWTH | S&P | MID-CAP GROWTH | MIDCAP 400 | |||||||||||||||||||||||||||||
NET ASSET | MARKET | TOTAL STOCK | MIDCAP 400 | NET ASSET | MARKET | TOTAL STOCK | GROWTH | |||||||||||||||||||||||||
VALUE | VALUE | MARKET INDEX | GROWTH INDEX | VALUE | VALUE | MARKET INDEX | INDEX | |||||||||||||||||||||||||
SIX MONTHS ENDED (1) | 31.17% | 31.33% | 32.59% | 31.49% | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
ONE YEAR (1) | 26.70% | 26.83% | 28.21% | 30.57% | 26.70% | 26.83% | 28.21% | 30.57% | ||||||||||||||||||||||||
THREE YEARS (1) | 15.06% | 14.84% | 16.38% | 14.92% | 4.79% | 4.72% | 5.19% | 4.74% | ||||||||||||||||||||||||
FIVE YEARS (1) | 42.23% | 42.39% | 44.43% | 38.01% | 7.30% | 7.32% | 7.63% | 6.65% | ||||||||||||||||||||||||
SINCE INCEPTION (1)(2) | 48.45% | 48.58% | 50.84% | 42.96% | 7.98% | 8.00% | 8.31% | 7.19% | ||||||||||||||||||||||||
(1) | Effective December 17, 2010, the Fund has changed its benchmark index to the S&P MidCap 400 Growth Index from the Dow Jones U.S. Mid-Cap Growth Total Stock Market Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. | |
(2) | For the period November 8, 2005 to December 31, 2010. |
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SPDR S&P 400 Mid Cap Growth ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370206.gif)
(1) | Effective December 17, 2010, the Fund has changed its benchmark index to S&P MidCap 400 Growth Index from the Dow Jones U.S. Mid-Cap Growth Total Stock Market Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. |
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SPDR S&P 400 Mid Cap Growth ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
EDWARDS | JOY | BUCYRUS | LUBRIZOL | |||||||
DESCRIPTION | LIFESCIENCES CORP. | GLOBAL, INC. | INTERNATIONAL, INC. | CREE, INC. | CORP. | |||||
MARKET VALUE | $1,190,935 | 1,156,117 | 929,760 | 922,855 | 905,915 | |||||
% OF NET ASSETS | 1.7 | 1.6 | 1.3 | 1.3 | 1.3 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Real Estate Investment Trust | 7.9 | % | ||||
Software | 7.9 | |||||
Machinery | 7.4 | |||||
Specialty Retail | 6.5 | |||||
Health Care Equipment & Supplies | 6.1 | |||||
Semiconductors & Semiconductor Equipment | 5.2 | |||||
Hotels, Restaurants & Leisure | 3.5 | |||||
IT Services | 3.2 | |||||
Health Care Providers & Services | 3.1 | |||||
Textiles, Apparel & Luxury Goods | 3.0 | |||||
Chemicals | 2.9 | |||||
Communications Equipment | 2.9 | |||||
Oil, Gas & Consumable Fuels | 2.8 | |||||
Electrical Equipment | 2.6 | |||||
Capital Markets | 2.2 | |||||
Electronic Equipment, Instruments & Components | 2.2 | |||||
Energy Equipment & Services | 2.1 | |||||
Pharmaceuticals | 2.0 | |||||
Commercial Services & Supplies | 1.7 | |||||
Auto Components | 1.6 | |||||
Internet Software & Services | 1.6 | |||||
Diversified Consumer Services | 1.4 | |||||
Food Products | 1.4 | |||||
Multiline Retail | 1.3 | |||||
Biotechnology | 1.2 | |||||
Life Sciences Tools & Services | 1.2 | |||||
Media | 1.0 | |||||
Containers & Packaging | 0.9 | |||||
Road & Rail | 0.9 | |||||
Diversified Financial Services | 0.8 | |||||
Household Products | 0.8 | |||||
Aerospace & Defense | 0.7 | |||||
Beverages | 0.7 | |||||
Health Care Technology | 0.7 | |||||
Distributors | 0.6 | |||||
Metals & Mining | 0.6 | |||||
Real Estate Management & Development | 0.6 | |||||
Diversified Telecommunication Services | 0.5 | |||||
Gas Utilities | 0.5 | |||||
Household Durables | 0.5 | |||||
Insurance | 0.5 | |||||
Leisure Equipment & Products | 0.5 | |||||
Professional Services | 0.5 | |||||
Trading Companies & Distributors | 0.5 | |||||
Commercial Banks | 0.4 | |||||
Office Electronics | 0.4 | |||||
Wireless Telecommunication Services | 0.4 | |||||
Construction Materials | 0.3 | |||||
Electric Utilities | 0.3 | |||||
Personal Products | 0.3 | |||||
Water Utilities | 0.3 | |||||
Airlines | 0.2 | |||||
Building Products | 0.2 | |||||
Marine | 0.2 | |||||
Multi-Utilities | 0.1 | |||||
Short Term Investments | 3.3 | |||||
Other Assets & Liabilities | (3.1 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR S&P 400 Mid Cap Value ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (11/8/05, 11/15/05, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P 400 Mid Cap Value ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.25%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||||||||||
DOW JONES U.S. | S&P | DOW JONES U.S. | S&P | |||||||||||||||||||||||||||||
MID-CAP VALUE | MIDCAP 400 | MID-CAP VALUE | MIDCAP 400 | |||||||||||||||||||||||||||||
NET ASSET | MARKET | TOTAL STOCK | VALUE | NET ASSET | MARKET | TOTAL STOCK | VALUE | |||||||||||||||||||||||||
VALUE | VALUE | MARKET INDEX | INDEX | VALUE | VALUE | MARKET INDEX | INDEX | |||||||||||||||||||||||||
SIX MONTHS ENDED (1) | 22.32% | 22.37% | 22.45% | 25.28% | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
ONE YEAR (1) | 21.69% | 21.77% | 21.88% | 22.78% | 21.69% | 21.77% | 21.88% | 22.78% | ||||||||||||||||||||||||
THREE YEARS (1) | 4.70% | 4.50% | 4.93% | 6.93% | 1.54% | 1.48% | 1.62% | 2.26% | ||||||||||||||||||||||||
FIVE YEARS (1) | 19.01% | 19.12% | 19.85% | 25.81% | 3.54% | 3.56% | 3.69% | 4.70% | ||||||||||||||||||||||||
SINCE INCEPTION (1)(2) | 24.22% | 24.27% | 25.11% | 29.63% | 4.30% | 4.31% | 4.45% | 5.18% | ||||||||||||||||||||||||
(1) | Effective December 17, 2010, the Fund has changed its benchmark index to the S&P MidCap 400 Value Index from the Dow Jones U.S. Mid-Cap Value Total Stock Market Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. | |
(2) | For the period November 8, 2005 to December 31, 2010. |
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SPDR S&P 400 Mid Cap Value ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370207.gif)
(1) | Effective December 17, 2010, the Fund has changed its benchmark index to the S&P MidCap 400 Value Index from the Dow Jones U.S. Mid-Cap Value Total Stock Market Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. |
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SPDR S&P 400 Mid Cap Value ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
NEW YORK COMMUNITY | PRIDE INTERNATIONAL, | EVEREST RE | ||||||||
DESCRIPTION | BANCORP, INC. | INC. | MANPOWER, INC. | AVNET, INC. | GROUP, LTD. | |||||
MARKET VALUE | $396,868 | 280,698 | 247,902 | 243,134 | 224,858 | |||||
% OF NET ASSETS | 1.5 | 1.0 | 0.9 | 0.9 | 0.8 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Insurance | 7.4 | % | ||||
Real Estate Investment Trusts | 7.2 | |||||
Commercial Banks | 6.8 | |||||
Machinery | 5.6 | |||||
Oil, Gas & Consumable Fuels | 4.0 | |||||
Chemicals | 3.8 | |||||
Gas Utilities | 3.6 | |||||
Multi-Utilities | 3.4 | |||||
Electronic Equipment, Instruments & Components | 3.3 | |||||
Health Care Providers & Services | 3.2 | |||||
Electric Utilities | 3.0 | |||||
Energy Equipment & Services | 2.9 | |||||
Thrifts & Mortgage Finance | 2.8 | |||||
Construction & Engineering | 2.7 | |||||
Capital Markets | 2.5 | |||||
Household Durables | 2.4 | |||||
Containers & Packaging | 2.2 | |||||
Health Care Equipment & Supplies | 2.2 | |||||
Metals & Mining | 2.1 | |||||
Specialty Retail | 2.1 | |||||
Food Products | 1.8 | |||||
Professional Services | 1.7 | |||||
Commercial Services & Supplies | 1.6 | |||||
Road & Rail | 1.5 | |||||
Electrical Equipment | 1.4 | |||||
IT Services | 1.4 | |||||
Semiconductors & Semiconductor Equipment | 1.4 | |||||
Life Sciences Tools & Services | 1.1 | |||||
Hotels, Restaurants & Leisure | 1.0 | |||||
Household Products | 1.0 | |||||
Software | 1.0 | |||||
Computers & Peripherals | 0.8 | |||||
Diversified Consumer Services | 0.8 | |||||
Food & Staples Retailing | 0.8 | |||||
Trading Companies & Distributions | 0.8 | |||||
Biotechnology | 0.7 | |||||
Airlines | 0.6 | |||||
Auto Components | 0.6 | |||||
Media | 0.6 | |||||
Wireless Telecommunication Services | 0.6 | |||||
Construction Materials | 0.5 | |||||
Internet Software & Services | 0.5 | |||||
Marine | 0.5 | |||||
Aerospace & Defense | 0.4 | |||||
Industrial Conglomerates | 0.4 | |||||
Multiline Retail | 0.4 | |||||
Textiles, Apparel & Luxury Goods | 0.4 | |||||
Communications Equipment | 0.3 | |||||
Water Utilities | 0.3 | |||||
Automobiles | 0.2 | |||||
Building Products | 0.2 | |||||
Leisure Equipment & Products | 0.2 | |||||
Paper & Forest Products | 0.2 | |||||
Personal Products | 0.2 | |||||
Tobacco | 0.2 | |||||
Diversified Telecommunication Services | 0.1 | |||||
Independent Power Producers & Energy Traders | 0.1 | |||||
Short Term Investments | 26.7 | |||||
Other Assets & Liabilities | (26.2 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR S&P 600 Small Cap ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (11/8/05, 11/15/05, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund share. The total expense ratio for SPDR S&P 600 Small Cap ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.25%. As of December 17, 2010, the total expense ratio for SPDR S&P 600 Small Cap ETF was decreased to 0.20% as reflected in the prospectus as supplemented December 17, 2010.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||||||||||
DOW JONES U.S. | S&P | DOW JONES U.S. | S&P | |||||||||||||||||||||||||||||
SMALL-CAP | SMALLCAP | SMALL-CAP | SMALLCAP | |||||||||||||||||||||||||||||
NET ASSET | MARKET | TOTAL STOCK | 600 | NET ASSET | MARKET | TOTAL STOCK | 600 | |||||||||||||||||||||||||
VALUE | VALUE | MARKET INDEX | INDEX | VALUE | VALUE | MARKET INDEX | INDEX | |||||||||||||||||||||||||
SIX MONTHS ENDED (1) | 28.77% | 28.88% | 29.97% | 27.43% | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
ONE YEAR (1) | 27.38% | 27.66% | 28.61% | 26.31% | 27.38% | 27.66% | 28.61% | 26.31% | ||||||||||||||||||||||||
THREE YEARS (1) | 12.47% | 12.30% | 13.62% | 9.32% | 4.00% | 3.94% | 4.35% | 3.01% | ||||||||||||||||||||||||
FIVE YEARS (1) | 33.34% | 33.62% | 35.44% | 25.48% | 5.92% | 5.97% | 6.25% | 4.64% | ||||||||||||||||||||||||
SINCE INCEPTION (1)(2) | 38.13% | 38.27% | 40.39% | 27.21% | 6.48% | 6.50% | 6.82% | 4.79% | ||||||||||||||||||||||||
(1) | Effective December 17, 2010, the Fund changed its benchmark index to the S&P SmallCap 600 Index from the Dow Jones U.S. Small-Cap Total Stock Market Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. | |
(2) | For the period November 8, 2005 to December 31, 2010. |
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SPDR S&P 600 Small Cap ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370208.gif)
(1) | Effective December 17, 2010, the Fund changed its benchmark index to the S&P SmallCap 600 Index from the Dow Jones U.S. Small-Cap Total Stock Market Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. |
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SPDR S&P 600 Small Cap ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
OIL STATES | CYPRESS | SALIX | ||||||||
INTERNATIONAL, | SEMICONDUCTOR | PHARMACEUTICALS, | VARIAN SEMICONDUCTOR | THE COOPER | ||||||
DESCRIPTION | INC. | CORP. | LTD. | EQUIPMENT ASSOCIATES, INC. | COS., INC. | |||||
MARKET VALUE | $438,119 | 419,425 | 372,956 | 371,881 | 352,294 | |||||
% OF NET ASSETS | 0.7 | 0.6 | 0.6 | 0.6 | 0.5 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Real Estate Investment Trusts | 7.6 | % | ||||
Commercial Banks | 5.9 | |||||
Semiconductors & Semiconductor Equipment | 5.9 | |||||
Health Care Providers & Services | 4.9 | |||||
Specialty Retail | 4.2 | |||||
Machinery | 4.1 | |||||
Electronic Equipment, Instruments & Components | 4.0 | |||||
Health Care Equipment & Supplies | 3.9 | |||||
Software | 3.9 | |||||
Energy Equipment & Services | 3.2 | |||||
Hotels, Restaurants & Leisure | 3.0 | |||||
Aerospace & Defense | 2.9 | |||||
Commercial Services & Supplies | 2.5 | |||||
Insurance | 2.5 | |||||
Communications Equipment | 2.4 | |||||
Textiles, Apparel & Luxury Goods | 2.4 | |||||
Oil, Gas & Consumable Fuels | 2.2 | |||||
Chemicals | 2.0 | |||||
Gas Utilities | 1.9 | |||||
Food Products | 1.8 | |||||
IT Services | 1.7 | |||||
Biotechnology | 1.3 | |||||
Diversified Consumer Services | 1.3 | |||||
Electrical Equipment | 1.3 | |||||
Building Products | 1.2 | |||||
Internet Software & Services | 1.2 | |||||
Pharmaceuticals | 1.2 | |||||
Electric Utilities | 1.1 | |||||
Capital Markets | 1.0 | |||||
Food & Staples Retailing | 1.0 | |||||
Household Durables | 1.0 | |||||
Leisure Equipment & Products | 1.0 | |||||
Paper & Forest Products | 1.0 | |||||
Professional Services | 1.0 | |||||
Computers & Peripherals | 0.9 | |||||
Construction & Engineering | 0.9 | |||||
Consumer Finance | 0.9 | |||||
Life Sciences Tools & Services | 0.9 | |||||
Metals & Mining | 0.9 | |||||
Road & Rail | 0.8 | |||||
Construction Materials | 0.6 | |||||
Internet & Catalog Retail | 0.6 | |||||
Media | 0.6 | |||||
Multi-Utilities | 0.6 | |||||
Thrifts & Mortgage Finance | 0.5 | |||||
Air Freight & Logistics | 0.4 | |||||
Diversified Financial Services | 0.4 | |||||
Diversified Telecommunication Services | 0.4 | |||||
Trading Companies & Distributors | 0.4 | |||||
Airlines | 0.3 | |||||
Auto Components | 0.3 | |||||
Household Products | 0.3 | |||||
Beverages | 0.2 | |||||
Health Care Technology | 0.2 | |||||
Industrial Conglomerates | 0.2 | |||||
Multiline Retail | 0.2 | |||||
Wireless Telecommunication Services | 0.2 | |||||
Automobiles | 0.1 | |||||
Containers & Packaging | 0.1 | |||||
Personal Products | 0.1 | |||||
Real Estate Management & Development | 0.1 | |||||
Tobacco | 0.1 | |||||
Water Utilities | 0.1 | |||||
Distributors | 0.0 | ** | ||||
Short Term Investments | 27.1 | |||||
Other Assets & Liabilities | (26.9 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Represents less than 0.05%. |
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SPDR S&P 600 Small Cap Growth Etf —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund share. The total expense ratio for SPDR S&P 600 Small Cap Growth ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.25%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||||||||||
DOW JONES | DOW JONES | |||||||||||||||||||||||||||||||
U.S. SMALL- | U.S. SMALL- | |||||||||||||||||||||||||||||||
CAP | S&P | CAP | S&P | |||||||||||||||||||||||||||||
GROWTH | SMALLCAP | GROWTH | SMALLCAP | |||||||||||||||||||||||||||||
TOTAL STOCK | 600 | TOTAL STOCK | 600 | |||||||||||||||||||||||||||||
NET ASSET | MARKET | MARKET | GROWTH | NET ASSET | MARKET | MARKET | GROWTH | |||||||||||||||||||||||||
VALUE | VALUE | INDEX | INDEX | VALUE | VALUE | INDEX | INDEX | |||||||||||||||||||||||||
SIX MONTHS ENDED (1) | 32.32% | 32.45% | 34.09% | 28.23% | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
ONE YEAR (1) | 30.23% | 30.43% | 31.97% | 27.99% | 30.23% | 30.43% | 31.97% | 27.99% | ||||||||||||||||||||||||
THREE YEARS (1) | 12.84% | 12.59% | 14.25% | 10.16% | 4.11% | 4.03% | 4.54% | 3.28% | ||||||||||||||||||||||||
FIVE YEARS (1) | 38.01% | 37.91% | 40.48% | 28.59% | 6.66% | 6.64% | 7.03% | 5.16% | ||||||||||||||||||||||||
TEN YEARS (1) | 42.36% | 42.41% | 82.05% | 103.42% | 3.60% | 3.60% | 6.17% | 7.36% | ||||||||||||||||||||||||
(1) | Effective December 17, 2010, the Fund has changed its benchmark index to the S&P SmallCap 600 Growth Index from the Dow Jones U.S. Small-Cap Growth Total Stock Market Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. |
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SPDR S&P 600 Small Cap Growth ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370209.gif)
(1) | Effective December 17, 2010, the Fund has changed its benchmark index to the S&P SmallCap 600 Growth Index from the Dow Jones U.S. Small-Cap Growth Total Stock Market Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. |
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SPDR S&P 600 Small Cap Growth ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
OIL STATES | CYPRESS | SALIX | THE COOPER | REGENERON | ||||||
DESCRIPTION | INTERNATIONAL, INC. | SEMINCONDUCTOR CORP. | PHARMACEUTICALS, LTD. | COS., INC. | PHARMACEUTICALS, INC. | |||||
MARKET VALUE | $2,368,062 | 2,252,918 | 1,991,104 | 1,878,545 | 1,745,735 | |||||
% OF NET ASSETS | 1.4 | 1.3 | 1.1 | 1.1 | 1.0 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Semiconductors & Semiconductor Equipment | 8.5 | % | ||||
Real Estate Investment Trusts | 7.6 | |||||
Software | 7.2 | |||||
Health Care Providers & Services | 6.0 | |||||
Health Care Equipment & Supplies | 5.9 | |||||
Specialty Retail | 4.7 | |||||
Hotels, Restaurants & Leisure | 4.2 | |||||
Energy Equipment & Services | 3.5 | |||||
Textiles, Apparel & Luxury Goods | 3.5 | |||||
Electronic Equipment, Instruments & Components | 3.1 | |||||
Machinery | 2.6 | |||||
Communications Equipment | 2.5 | |||||
Pharmaceuticals | 2.4 | |||||
Food Products | 2.3 | |||||
Diversified Consumer Services | 2.2 | |||||
IT Services | 2.2 | |||||
Biotechnology | 2.0 | |||||
Commercial Banks | 1.9 | |||||
Commercial Services & Supplies | 1.8 | |||||
Consumer Finance | 1.8 | |||||
Internet Software & Services | 1.8 | |||||
Aerospace & Defense | 1.6 | |||||
Chemicals | 1.6 | |||||
Life Sciences Tools & Services | 1.5 | |||||
Oil, Gas & Consumable Fuels | 1.3 | |||||
Capital Markets | 1.2 | |||||
Computers & Peripherals | 1.2 | |||||
Paper & Forest Products | 1.2 | |||||
Electrical Equipment | 1.1 | |||||
Internet & Catalog Retail | 1.1 | |||||
Gas Utilities | 0.8 | |||||
Diversified Telecommunication Services | 0.7 | |||||
Professional Services | 0.7 | |||||
Road & Rail | 0.7 | |||||
Food & Staples Retailing | 0.6 | |||||
Household Durables | 0.6 | |||||
Leisure Equipment & Products | 0.6 | |||||
Metals & Mining | 0.6 | |||||
Diversified Financial Services | 0.5 | |||||
Insurance | 0.5 | |||||
Media | 0.5 | |||||
Air Freight & Logistics | 0.4 | |||||
Beverages | 0.4 | |||||
Building Products | 0.4 | |||||
Airlines | 0.3 | |||||
Health Care Technology | 0.3 | |||||
Construction Materials | 0.2 | |||||
Electric Utilities | 0.2 | |||||
Personal Products | 0.2 | |||||
Real Estate Management & Development | 0.2 | |||||
Thrifts & Mortgage Finance | 0.2 | |||||
Wireless Telecommunication Services | 0.2 | |||||
Auto Components | 0.1 | |||||
Construction & Engineering | 0.1 | |||||
Household Products | 0.1 | |||||
Water Utilities | 0.1 | |||||
Short Term Investments | 12.8 | |||||
Other Assets & Liabilities | (12.5 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR S&P 600 Small Cap Value ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund share. The total expense ratio for SPDR S&P 600 Small Cap Value ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.25%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||||||||||
DOW JONES | DOW JONES | |||||||||||||||||||||||||||||||
U.S. | S&P | U.S. | S&P | |||||||||||||||||||||||||||||
SMALL-CAP VALUE | SMALLCAP | SMALL-CAP | SMALLCAP | |||||||||||||||||||||||||||||
TOTAL STOCK | 600 | VALUE | 600 | |||||||||||||||||||||||||||||
NET ASSET | MARKET | MARKET | VALUE | NET ASSET | MARKET | TOTAL STOCK MARKET | VALUE | |||||||||||||||||||||||||
VALUE | VALUE | INDEX | INDEX | VALUE | VALUE | INDEX | INDEX | |||||||||||||||||||||||||
SIX MONTHS ENDED | 24.81% | 24.92% | 25.54% | 26.63% | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
ONE YEAR | 24.21% | 24.30% | 24.98% | 24.72% | 24.21% | 24.30% | 24.98% | 24.72% | ||||||||||||||||||||||||
THREE YEARS | 12.67% | 12.44% | 13.00% | 8.01% | 4.06% | 3.99% | 4.16% | 2.60% | ||||||||||||||||||||||||
FIVE YEARS | 29.13% | 29.33% | 30.04% | 21.99% | 5.25% | 5.28% | 5.39% | 4.06% | ||||||||||||||||||||||||
TEN YEARS (1) | 151.85% | 151.97% | 147.54% | 112.21% | 9.68% | 9.68% | 9.49% | 7.81% |
(1) | Effective December 17, 2010, the Fund has changed its benchmark index to the S&P SmallCap 600 Value Index from the Dow Jones U.S. Small-Cap Value Total Stock Market Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. |
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SPDR S&P 600 Small Cap Value ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370210.gif)
(1) | Effective December 17, 2010, the Fund has changed its benchmark index to the S&P SmallCap 600 Value Index from the Dow Jones U.S. Small-Cap Value Total Stock Market Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. |
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SPDR S&P 600 Small Cap Value ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
WORLD FUEL SERVICES | ESTERLINE | EMCOR GROUP, | PROASSURANCE | ACTUANT CORP. | ||||||
DESCRIPTION | CORP. | TECHNOLOGIES CORP. | INC. | CORP. | (CLASS A) | |||||
MARKET VALUE | $1,366,848 | 1,131,255 | 1,057,770 | 1,018,868 | 992,926 | |||||
% OF NET ASSETS | 1.0 | 0.8 | 0.8 | 0.8 | 0.7 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Commercial Banks | 9.8 | % | ||||
Real Estate Investment Trusts | 7.7 | |||||
Machinery | 5.4 | |||||
Electronic Equipment, Instruments & Components | 4.8 | |||||
Insurance | 4.4 | |||||
Aerospace & Defense | 4.1 | |||||
Specialty Retail | 3.8 | |||||
Health Care Providers & Services | 3.7 | |||||
Semiconductors & Semiconductor Equipment | 3.4 | |||||
Commercial Services & Supplies | 3.1 | |||||
Gas Utilities | 3.0 | |||||
Oil, Gas & Consumable Fuels | 3.0 | |||||
Energy Equipment & Services | 2.8 | |||||
Chemicals | 2.5 | |||||
Communications Equipment | 2.2 | |||||
Building Products | 2.0 | |||||
Electric Utilities | 2.0 | |||||
Health Care Equipment & Supplies | 1.9 | |||||
Hotels, Restaurants & Leisure | 1.8 | |||||
Construction & Engineering | 1.6 | |||||
Electrical Equipment | 1.5 | |||||
Household Durables | 1.5 | |||||
Food & Staples Retailing | 1.4 | |||||
Textiles, Apparel & Luxury Goods | 1.4 | |||||
Food Products | 1.3 | |||||
Leisure Equipment & Products | 1.3 | |||||
Metals & Mining | 1.3 | |||||
Multi-Utilities | 1.3 | |||||
Professional Services | 1.3 | |||||
IT Services | 1.2 | |||||
Construction Materials | 1.0 | |||||
Road & Rail | 1.0 | |||||
Thrifts & Mortgage Finance | 0.9 | |||||
Trading Companies & Distributors | 0.9 | |||||
Media | 0.8 | |||||
Paper & Forest Products | 0.8 | |||||
Capital Markets | 0.7 | |||||
Internet Software & Services | 0.7 | |||||
Software | 0.7 | |||||
Biotechnology | 0.6 | |||||
Computers & Peripherals | 0.6 | |||||
Air Freight & Logistics | 0.5 | |||||
Auto Components | 0.5 | |||||
Diversified Consumer Services | 0.5 | |||||
Airlines | 0.4 | |||||
Diversified Financial Services | 0.3 | |||||
Household Products | 0.3 | |||||
Industrial Conglomerates | 0.3 | |||||
Life Sciences Tools & Services | 0.3 | |||||
Multiline Retail | 0.3 | |||||
Automobiles | 0.2 | |||||
Wireless Telecommunication Services | 0.2 | |||||
Containers & Packaging | 0.1 | |||||
Distributors | 0.1 | |||||
Diversified Telecommunication Services | 0.1 | |||||
Health Care Technology | 0.1 | |||||
Internet & Catalog Retail | 0.1 | |||||
Real Estate Management & Development | 0.1 | |||||
Tobacco | 0.1 | |||||
Water Utilities | 0.1 | |||||
Short Term Investments | 9.7 | |||||
Other Assets & Liabilities | (9.5 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR DJ Global Titans ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund share. The total expense ratio for SPDR DJ Global Titans ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.50%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
DOW JONES | DOW JONES | |||||||||||||||||||||||
NET ASSET | MARKET | GLOBAL TITANS 50 | NET ASSET | MARKET | GLOBAL TITANS 50 | |||||||||||||||||||
VALUE | VALUE | INDEX | VALUE | VALUE | INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 21.58% | 21.95% | 21.59% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 4.73% | 5.08% | 4.57% | 4.73% | 5.08% | 4.57% | ||||||||||||||||||
THREE YEARS | −19.52% | −19.25% | −19.98% | −6.98% | −6.88% | −7.16% | ||||||||||||||||||
FIVE YEARS | 2.18% | 2.29% | 2.44% | 0.43% | 0.45% | 0.48% | ||||||||||||||||||
TEN YEARS | −5.90% | −5.50% | −3.14% | −0.61% | −0.56% | −0.32% | ||||||||||||||||||
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SPDR DJ Global Titans ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![LINE GRAPH](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370211.gif)
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SPDR DJ Global Titans ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
EXXON | GENERAL | |||||||||
DESCRIPTION | MOBIL CORP. | APPLE, INC. | MICROSOFT CORP. | ELECTRIC CO. | NESTLE SA | |||||
MARKET VALUE | $6,993,197 | 5,617,060 | 4,030,754 | 3,707,840 | 3,655,874 | |||||
% OF NET ASSETS | 5.7 | 4.6 | 3.3 | 3.0 | 3.0 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY** | NET ASSETS | |||||
Oil, Gas & Consumable Fuels | 18.9 | % | ||||
Pharmaceuticals | 14.2 | |||||
Commercial Banks | 6.3 | |||||
Computers & Peripherals | 6.1 | |||||
Diversified Telecommunication Services | 5.7 | |||||
Software | 5.1 | |||||
Industrial Conglomerates | 4.7 | |||||
Diversified Financial Services | 4.6 | |||||
Beverages | 3.8 | |||||
Semiconductors & Semiconductor Equipment | 3.2 | |||||
Food Products | 3.0 | |||||
IT Services | 2.8 | |||||
Household Products | 2.8 | |||||
Metals & Mining | 2.4 | |||||
Internet Software & Services | 2.3 | |||||
Wireless Telecommunication Services | 2.2 | |||||
Automobiles | 1.8 | |||||
Energy Equipment & Services | 1.8 | |||||
Communications Equipment | 1.7 | |||||
Food & Staples Retailing | 1.7 | |||||
Tobacco | 1.7 | |||||
Capital Markets | 1.1 | |||||
Electric Utilities | 1.0 | |||||
Insurance | 0.8 | |||||
Short Term Investments | 3.8 | |||||
Other Assets & Liabilities | (3.5 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. | |
** | Each security is valued based on Level 1 inputs. (Note 2) |
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SPDR Dow Jones REIT ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (4/23/01, 4/27/01, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Dow Jones REIT ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.25%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
DOW JONES U.S. | DOW JONES U.S. | |||||||||||||||||||||||
NET ASSET | MARKET | SELECT REIT | NET ASSET | MARKET | SELECT REIT | |||||||||||||||||||
VALUE | VALUE | INDEX | VALUE | VALUE | INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 21.45% | 21.48% | 21.65% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 27.83% | 27.95% | 28.07% | 27.83% | 27.96% | 28.07% | ||||||||||||||||||
THREE YEARS | 0.30% | 0.62% | 0.03% | 0.10% | 0.21% | 0.01% | ||||||||||||||||||
FIVE YEARS | 11.88% | 12.02% | 12.13% | 2.27% | 2.30% | 2.32% | ||||||||||||||||||
SINCE INCEPTION (1) | 168.16% | 168.41% | 173.07% | 10.71% | 10.72% | 10.92% | ||||||||||||||||||
(1) | For the period April 23, 2001 to December 31, 2010. |
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SPDR Dow Jones REIT ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![LINE GRAPH](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370212.gif)
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SPDR Dow Jones REIT ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
SIMON PROPERTY | VORNADO | |||||||||
DESCRIPTION | GROUP, INC. | REALTY TRUST | EQUITY RESIDENTIAL | PUBLIC STORAGE | HCP, INC. | |||||
MARKET VALUE | $133,268,845 | 68,679,253 | 67,239,820 | 65,426,853 | 61,016,877 | |||||
% OF NET ASSETS | 9.7 | 5.0 | 4.9 | 4.8 | 4.5 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Specialized REITs | 25.9 | % | ||||
Retail REITs | 25.3 | |||||
Residential REITs | 17.6 | |||||
Office REITs | 16.7 | |||||
Diversified REITs | 8.0 | |||||
Industrial REITs | 6.1 | |||||
Short Term Investments | 9.4 | |||||
Other Assets & Liabilities | (9.0 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR KBW Bank ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (11/8/05, 11/15/05, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR KBW Bank ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.35%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | KBW BANK | NET ASSET | MARKET | KBW BANK | |||||||||||||||||||
VALUE | VALUE | INDEX | VALUE | VALUE | INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 13.50% | 13.59% | 13.73% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 22.93% | 23.03% | 23.36% | 22.93% | 23.03% | 23.36% | ||||||||||||||||||
THREE YEARS | −36.26% | −36.18% | −36.44% | −13.94% | −13.90% | −14.02% | ||||||||||||||||||
FIVE YEARS | −41.94% | −41.89% | −41.85% | −10.30% | −10.29% | −10.28% | ||||||||||||||||||
SINCE INCEPTION (1) | −39.73% | −39.69% | −39.59% | −9.37% | −9.36% | −9.33% | ||||||||||||||||||
(1) | For the period November 8, 2005 to December 31, 2010. |
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SPDR KBW Bank ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![LINE GRAPH](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370213.gif)
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SPDR KBW Bank ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
JPMORGAN | BANK OF | WELLS | ||||||||
DESCRIPTION | CHASE & CO. | CITIGROUP, INC. | AMERICA CORP. | FARGO & CO. | U.S. BANCORP | |||||
MARKET VALUE | $157,970,298 | 149,640,584 | 139,208,316 | 137,702,887 | 120,682,551 | |||||
% OF NET ASSETS | 8.0 | 7.6 | 7.0 | 7.0 | 6.1 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Regional Banks | 41.4 | % | ||||
Other Diversified Financial Services | 22.6 | |||||
Diversified Banks | 17.0 | |||||
Asset Management & Custody Banks | 8.4 | |||||
Thrifts & Mortgage Finance | 7.0 | |||||
Consumer Finance | 3.5 | |||||
Short Term Investments | 9.6 | |||||
Other Assets & Liabilities | (9.5 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR KBW Capital Markets ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (11/8/05, 11/15/05, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR KBW Capital Markets ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.35%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | KBW CAPITAL | NET ASSET | MARKET | KBW CAPITAL | |||||||||||||||||||
VALUE | VALUE | MARKETS INDEX | VALUE | VALUE | MARKETS INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 25.19% | 25.31% | 25.51% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 6.30% | 6.35% | 6.71% | 6.30% | 6.35% | 6.71% | ||||||||||||||||||
THREE YEARS | −40.48% | −40.63% | −40.04% | −15.88% | −15.95% | −15.67% | ||||||||||||||||||
FIVE YEARS | −22.82% | −22.76% | −21.68% | −5.05% | −5.04% | −4.77% | ||||||||||||||||||
SINCE INCEPTION (1) | −20.56% | −20.53% | −19.34% | −4.37% | −4.36% | −4.10% | ||||||||||||||||||
(1) | For the period November 8, 2005 to December 31, 2010. |
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SPDR KBW Capital Markets ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
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SPDR KBW Capital Markets ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
THE GOLDMAN | THE CHARLES | |||||||||
DESCRIPTION | MORGAN STANLEY | STATE STREET CORP. | SACHS GROUP, INC. | CME GROUP, INC. | SCHWAB CORP. | |||||
MARKET VALUE | $6,130,658 | 5,909,045 | 5,725,175 | 5,116,468 | 4,421,241 | |||||
% OF NET ASSETS | 8.0 | 7.7 | 7.5 | 6.7 | 5.8 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Investment Banking & Brokerage | 52.4 | % | ||||
Asset Management & Custody Banks | 28.8 | |||||
Specialized Finance | 18.6 | |||||
Short Term Investments | 6.9 | |||||
Other Assets & Liabilities | (6.7 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR KBW Insurance ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (11/8/05, 11/15/05, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR KBW Insurance ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.35%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | KBW INSURANCE | NET ASSET | MARKET | KBW INSURANCE | |||||||||||||||||||
VALUE | VALUE | INDEX | VALUE | VALUE | INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 23.54% | 23.56% | 24.05% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 26.10% | 26.11% | 26.86% | 26.10% | 26.11% | 26.86% | ||||||||||||||||||
THREE YEARS | −13.82% | −13.73% | −12.84% | −4.84% | −4.81% | −4.48% | ||||||||||||||||||
FIVE YEARS | −10.56% | −10.94% | −8.89% | −2.21% | −2.29% | −1.84% | ||||||||||||||||||
SINCE INCEPTION (1) | −9.73% | −9.72% | −7.99% | −1.97% | −1.97% | −1.61% | ||||||||||||||||||
(1) For the period November 8, 2005 to December 31, 2010. |
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SPDR KBW Insurance ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![LINE GRAPH](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370215.gif)
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SPDR KBW Insurance ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
THE TRAVELERS | PRUDENTIAL | AMERIPRISE | ||||||||
DESCRIPTION | METLIFE, INC. | COS., INC. | AFLAC, INC. | FINANCIAL, INC. | FINANCIAL, INC. | |||||
MARKET VALUE | $21,757,913 | 18,502,238 | 17,256,689 | 15,182,054 | 10,751,376 | |||||
% OF NET ASSETS | 9.3 | 7.9 | 7.4 | 6.5 | 4.6 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Life & Health Insurance | 35.2 | % | ||||
Property & Casualty Insurance | 29.5 | |||||
Multi-Line Insurance | 11.1 | |||||
Insurance Brokers | 8.3 | |||||
Reinsurance | 7.1 | |||||
Asset Management & Custody Banks | 4.6 | |||||
Thrifts & Mortgage Finance | 4.1 | |||||
Short Term Investments | 2.9 | |||||
Other Assets & Liabilities | (2.8 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR KBW Mortgage Finance ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (4/29/09, 4/30/09, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR KBW Mortgage Finance ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.35%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | KBW MORTGAGE | NET ASSET | MARKET | KBW MORTGAGE | |||||||||||||||||||
VALUE | VALUE | FINANCE INDEX | VALUE | VALUE | FINANCE INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 9.78% | 9.77% | 10.01% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 5.72% | 5.72% | 5.90% | 5.72% | 5.72% | 5.90% | ||||||||||||||||||
SINCE INCEPTION (1) | 7.24% | 7.24% | 7.65% | 4.25% | 4.26% | 4.50% | ||||||||||||||||||
(1) For the period April 29, 2009 to December 31, 2010. |
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SPDR KBW Mortgage Finance ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370216.gif)
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SPDR KBW Mortgage Finance ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
CAPITOL FEDERAL | HUDSON CITY | LENDER PROCESSING | OLD REPUBLIC | |||||||
DESCRIPTION | FINANCIAL, INC. | D.R. HORTON, INC. | BANCORP, INC. | SERVICES, INC. | INTERNATIONAL CORP. | |||||
MARKET VALUE | $162,441 | 150,485 | 135,363 | 120,796 | 117,668 | |||||
% OF NET ASSETS | 7.7 | 7.1 | 6.4 | 5.7 | 5.6 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Thrifts & Mortgage Finance | 33.2 | % | ||||
Household Durables | 33.0 | |||||
Insurance | 13.4 | |||||
Commercial Banks | 6.7 | |||||
IT Services | 5.7 | |||||
Diversified Financial Services | 5.3 | |||||
Real Estate Management & Development | 2.6 | |||||
Short Term Investments | 29.0 | |||||
Other Assets & Liabilities | (28.9 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR KBW Regional Banking ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (6/19/06, 6/22/06, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR KBW Regional Banking ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.35%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | KBW REGIONAL | NET ASSET | MARKET | KBW REGIONAL | |||||||||||||||||||
VALUE | VALUE | BANKING INDEX | VALUE | VALUE | BANKING INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 15.23% | 15.47% | 15.45% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 20.04% | 20.31% | 20.40% | 20.04% | 20.31% | 20.40% | ||||||||||||||||||
THREE YEARS | −23.54% | −23.56% | 23.65% | −8.56% | −8.57% | −8.60% | ||||||||||||||||||
SINCE INCEPTION (1) | −36.83% | −36.71% | −36.29% | −9.63% | −9.59% | −9.46% | ||||||||||||||||||
(1) | For the period June 19, 2006 to December 31, 2010. |
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SPDR KBW Regional Banking ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
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SPDR KBW Regional Banking ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
FULTON FINANCIAL | WHITNEY HOLDING | EAST WEST BANCORP, | ASSOCIATED | |||||||
DESCRIPTION | CORP. | F.N.B. CORP. | CORP. | INC. | BAN-CORP. | |||||
MARKET VALUE | $23,277,873 | 22,477,862 | 22,020,089 | 21,858,112 | 21,745,886 | |||||
% OF NET ASSETS | 2.9 | 2.8 | 2.8 | 2.8 | 2.7 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Regional Banks | 92.3 | % | ||||
Thrifts & Mortgage Finance | 7.5 | |||||
Short Term Investments | 13.7 | |||||
Other Assets & Liabilities | (13.5 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR Morgan Stanley Technology ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund share. The total expense ratio for SPDR Morgan Stanley Technology ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.50%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | MORGAN STANLEY | NET ASSET | MARKET | MORGAN STANLEY | |||||||||||||||||||
VALUE | VALUE | TECHNOLOGY INDEX | VALUE | VALUE | TECHNOLOGY INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 28.89% | 28.96% | 29.30% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 15.41% | 15.38% | 16.03% | 15.41% | 15.38% | 16.03% | ||||||||||||||||||
THREE YEARS | 8.22% | 7.78% | 9.68% | 2.67% | 2.53% | 3.13% | ||||||||||||||||||
FIVE YEARS | 29.23% | 29.18% | 32.28% | 5.26% | 5.25% | 5.75% | ||||||||||||||||||
TEN YEARS | 0.05% | 0.20% | 5.12% | 0.01% | 0.02% | 0.50% | ||||||||||||||||||
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SPDR Morgan Stanley Technology ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
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SPDR Morgan Stanley Technology ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
DESCRIPTION | NVIDIA CORP. | ADOBE SYSTEMS, INC. | CISCO SYSTEMS, INC. | NOKIA OYJ ADR | APPLIED MATERIALS, INC. | |||||
MARKET VALUE | $6,630,023 | 6,603,080 | 6,406,153 | 6,405,748 | 6,375,286 | |||||
% OF NET ASSETS | 3.0 | 3.0 | 2.9 | 2.9 | 2.9 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Software | 20.0 | % | ||||
Communications Equipment | 17.2 | |||||
Semiconductors & Semiconductor Equipment | 17.2 | |||||
Computers & Peripherals | 17.1 | |||||
IT Services | 11.3 | |||||
Internet Software & Services | 8.4 | |||||
Electronic Equipment, Instruments & Components | 2.9 | |||||
Household Durables | 2.9 | |||||
Internet & Catalog Retail | 2.9 | |||||
Short Term Investments | 5.4 | |||||
Other Assets & Liabilities | (5.3 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR S&P Dividend ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (11/8/05, 11/15/05, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund share. The total expense ratio for SPDR S&P Dividend ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.35%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P HIGH YIELD | S&P HIGH YIELD | |||||||||||||||||||||||
NET ASSET | MARKET | DIVIDEND | NET ASSET | MARKET | DIVIDEND | |||||||||||||||||||
VALUE | VALUE | ARISTOCRATS INDEX | VALUE | VALUE | ARISTOCRATS INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 17.19% | 17.29% | 17.40% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 16.43% | 16.50% | 16.80% | 16.43% | 16.50% | 16.80% | ||||||||||||||||||
THREE YEARS | 6.76% | 6.24% | 6.96% | 2.20% | 2.04% | 2.27% | ||||||||||||||||||
FIVE YEARS | 17.66% | 17.68% | 18.27% | 3.31% | 3.31% | 3.42% | ||||||||||||||||||
SINCE INCEPTION (1) | 19.67% | 19.77% | 20.29% | 3.55% | 3.57% | 3.66% | ||||||||||||||||||
(1) | For the period November 8, 2005 to December 31, 2010. |
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SPDR S&P Dividend ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370219.gif)
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SPDR S&P Dividend ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
DESCRIPTION | PITNEY BOWES, INC. | CENTURYLINK, INC. | HCP, INC. | LEGGETT & PLATT, INC. | CINCINNATI FINANCIAL CORP. | |||||
MARKET VALUE | $209,927,230 | 204,874,065 | 180,628,562 | 164,203,955 | 153,787,102 | |||||
% OF NET ASSETS | 4.2 | 4.1 | 3.6 | 3.3 | 3.1 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Household Products | 8.1 | % | ||||
Gas Utilities | 7.2 | |||||
Insurance | 6.6 | |||||
Multi-Utilities | 6.0 | |||||
Chemicals | 5.8 | |||||
Real Estate Investment Trusts | 5.4 | |||||
Household Durables | 4.7 | |||||
Beverages | 4.5 | |||||
Commercial Services & Supplies | 4.2 | |||||
Pharmaceuticals | 4.2 | |||||
Diversified Telecommunication Services | 4.1 | |||||
Food Products | 4.0 | |||||
Oil, Gas & Consumable Fuels | 3.8 | |||||
Containers & Packaging | 3.1 | |||||
Machinery | 2.7 | |||||
Commercial Banks | 2.5 | |||||
Food & Staples Retailing | 2.5 | |||||
Specialty Retail | 2.5 | |||||
Distributors | 2.1 | |||||
IT Services | 1.9 | |||||
Textiles, Apparel & Luxury Goods | 1.8 | |||||
Hotels, Restaurants, & Leisure | 1.7 | |||||
Media | 1.6 | |||||
Electrical Equipment | 1.5 | |||||
Industrial Conglomerates | 1.5 | |||||
Capital Markets | 1.4 | |||||
Health Care Equipment & Supplies | 1.3 | |||||
Health Care Providers & Services | 1.3 | |||||
Computers & Peripherals | 1.0 | |||||
Tobacco | 0.8 | |||||
Short Term Investments | 9.6 | |||||
Other Assets & Liabilities | (9.4 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR S&P Biotech ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (1/31/06, 2/6/06, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Biotech ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.35%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P BIOTECHNOLOGY | S&P BIOTECHNOLOGY | |||||||||||||||||||||||
NET ASSET | MARKET | SELECT INDUSTRY | NET ASSET | MARKET | SELECT INDUSTRY | |||||||||||||||||||
VALUE | VALUE | INDEX | VALUE | VALUE | INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 21.69% | 21.73% | 21.89% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 17.59% | 17.60% | 17.93% | 17.59% | 17.60% | 17.93% | ||||||||||||||||||
THREE YEARS | 7.74% | 7.66% | 8.54% | 2.52% | 2.49% | 2.77% | ||||||||||||||||||
SINCE INCEPTION (1) | 29.23% | 29.24% | 31.22% | 5.35% | 5.35% | 5.68% | ||||||||||||||||||
(1) | For the period January 31, 2006 to December 31, 2010. |
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SPDR S&P Biotech ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![LINE GRAPH](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370220.gif)
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SPDR S&P Biotech ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
MARTEK | ONYX | ALKERMES, | REGENERON | AMYLIN | ||||||
DESCRIPTION | BIOSCIENCES CORP. | PHARMACEUTICALS, INC. | INC. | PHARMACEUTICALS, INC. | PHARMACEUTICALS, INC. | |||||
MARKET VALUE | $22,265,787 | 17,738,341 | 17,431,693 | 17,391,725 | 17,090,181 | |||||
% OF NET ASSETS | 4.5 | 3.6 | 3.5 | 3.5 | 3.5 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Biotechnology | 100.0 | % | ||||
Short Term Investments | 15.8 | |||||
Other Assets & Liabilities | (15.8 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR S&P Homebuilders ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (1/31/06, 2/6/06, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Homebuilders ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.35%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | S&P HOMEBUILDERS | NET ASSET | MARKET | S&P HOMEBUILDERS | |||||||||||||||||||
VALUE | VALUE | SELECT INDUSTRY INDEX | VALUE | VALUE | SELECT INDUSTRY INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 23.41% | 23.45% | 23.70% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 17.49% | 17.54% | 17.89% | 17.49% | 17.54% | 17.89% | ||||||||||||||||||
THREE YEARS | −4.92% | −4.84% | −5.28% | −1.67% | −1.64% | −1.79% | ||||||||||||||||||
SINCE INCEPTION (1) | −60.15% | −60.13% | −60.30% | −17.06% | −17.05% | −17.12% | ||||||||||||||||||
(1) | For the period January 31, 2006 to December 31, 2010. |
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SPDR S&P Homebuilders ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370221.gif)
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SPDR S&P Homebuilders ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
SIMPSON MANUFACTURING | OWENS | ARMSTRONG WORLD | M.D.C. | |||||||
DESCRIPTION | USG CORP. | CO., INC. | CORNING, INC. | INDUSTRIES, INC. | HOLDINGS, INC. | |||||
MARKET VALUE | $38,740,792 | 36,678,331 | 36,536,302 | 36,505,796 | 36,501,506 | |||||
% OF NET ASSETS | 4.5 | 4.2 | 4.2 | 4.2 | 4.2 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Homebuilding | 32.8 | % | ||||
Building Products | 31.7 | |||||
Home Furnishing Retail | 15.7 | |||||
Home Furnishings | 12.0 | |||||
Home Improvement Retail | 7.8 | |||||
Short Term Investments | 12.2 | |||||
Other Assets & Liabilities | (12.2 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR S&P Metals & Mining ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (6/19/06, 6/22/06, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Metals & Mining ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.35%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | S&P METALS & MINING | NET ASSET | MARKET | S&P METALS & MINING | |||||||||||||||||||
VALUE | VALUE | SELECT INDUSTRY INDEX | VALUE | VALUE | SELECT INDUSTRY INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 51.24% | 51.44% | 51.65% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 34.08% | 34.15% | 34.59% | 34.08% | 34.15% | 34.59% | ||||||||||||||||||
THREE YEARS | 1.97% | 1.98% | 2.68% | 0.65% | 0.65% | 0.89% | ||||||||||||||||||
SINCE INCEPTION (1) | 65.59% | 65.65% | 67.55% | 11.76% | 11.77% | 12.04% | ||||||||||||||||||
(1) | For the period June 19, 2006 to December 31, 2010. |
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SPDR S&P Metals & Mining ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370222.gif)
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SPDR S&P Metals & Mining ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
ALPHA NATURAL | AK STEEL | CONSOL | STEEL | |||||||
DESCRIPTION | RESOURCES, INC. | HOLDING CORP. | ENERGY, INC. | DYNAMICS, INC. | ARCH COAL, INC. | |||||
MARKET VALUE | $49,841,588 | 49,285,748 | 48,637,695 | 48,044,436 | 47,930,842 | |||||
% OF NET ASSETS | 4.2 | 4.1 | 4.1 | 4.0 | 4.0 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Steel | 34.9 | % | ||||
Coal & Consumable Fuels | 23.2 | |||||
Diversified Metals & Mining | 15.2 | |||||
Precious Metals & Minerals | 11.6 | |||||
Gold | 7.4 | |||||
Aluminum | 7.6 | |||||
Short Term Investments | 8.5 | |||||
Other Assets & Liabilities | (8.4 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR S&P Oil & Gas Equipment & Services ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (6/19/06, 6/22/06, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Oil & Gas Equipment & Services ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.35%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P OIL & GAS | S&P OIL & GAS | |||||||||||||||||||||||
NET ASSET | MARKET | EQUIPMENT & SERVICES | NET ASSET | MARKET | EQUIPMENT & SERVICES | |||||||||||||||||||
VALUE | VALUE | SELECT INDUSTRY INDEX | VALUE | VALUE | SELECT INDUSTRY INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 47.54% | 47.71% | 47.86% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 30.23% | 30.30% | 30.70% | 30.23% | 30.30% | 30.70% | ||||||||||||||||||
THREE YEARS | −7.51% | −7.87% | −6.83% | −2.57% | −2.70% | −2.33% | ||||||||||||||||||
SINCE INCEPTION (1) | 34.87% | 34.93% | 36.60% | 6.82% | 6.83% | 7.12% | ||||||||||||||||||
(1) | For the period June 19, 2006 to December 31, 2010. |
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SPDR S&P Oil & Gas Equipment & Services ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![LINE GRAPH](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370223.gif)
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SPDR S&P Oil & Gas Equipment & Services ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
WEATHERFORD | NATIONAL-OILWELL | BAKER | DRESSER-RAND | |||||||
DESCRIPTION | INTERNATIONAL, LTD. | VARCO, INC. | HUGHES, INC. | TIDEWATER, INC. | GROUP, INC. | |||||
MARKET VALUE | $19,421,884 | 18,915,744 | 18,686,186 | 18,624,494 | 18,422,432 | |||||
% OF NET ASSETS | 4.3 | 4.2 | 4.1 | 4.1 | 4.1 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Oil & Gas Equipment & Services | 64.4 | % | ||||
Oil & Gas Drilling | 35.5 | |||||
Short Term Investments | 4.7 | |||||
Other Assets & Liabilities | (4.6 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR S&P Oil & Gas Exploration & Production ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (6/19/06, 6/22/06, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Oil & Gas Exploration & Production ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.35%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P OIL & GAS | S&P OIL & GAS | |||||||||||||||||||||||
NET ASSET | MARKET | EXPLORATION & PRODUCTION | NET ASSET | MARKET | EXPLORATION & PRODUCTION | |||||||||||||||||||
VALUE | VALUE | SELECT INDUSTRY INDEX | VALUE | VALUE | SELECT INDUSTRY INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 35.40% | 35.53% | 35.71% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 28.54% | 28.59% | 29.04% | 28.54% | 28.59% | 29.04% | ||||||||||||||||||
THREE YEARS | 3.00% | 2.74% | 3.82% | 0.99% | 0.90% | 1.26% | ||||||||||||||||||
SINCE INCEPTION (1) | 59.30% | 59.38% | 61.32% | 10.81% | 10.82% | 11.11% | ||||||||||||||||||
(1) | For the period June 19, 2006 to December 31, 2010. |
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SPDR S&P Oil & Gas Exploration & Production ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
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SPDR S&P Oil & Gas Exploration & Production ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
CHESAPEAKE | WORLD FUEL | ANADARKO | FOREST | |||||||
DESCRIPTION | ENERGY CORP. | SERVICES CORP. | PETROLEUM CORP. | OIL CORP. | SM ENERGY CO. | |||||
MARKET VALUE | $21,544,787 | 21,271,445 | 21,032,041 | 20,850,162 | 20,701,048 | |||||
% OF NET ASSETS | 2.9 | 2.9 | 2.9 | 2.8 | 2.8 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Oil & Gas Exploration & Production | 72.7 | % | ||||
Oil & Gas Refining & Marketing | 16.5 | |||||
Integrated Oil & Gas | 10.8 | |||||
Short Term Investments | 5.9 | |||||
Other Assets & Liabilities | (5.9 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR S&P Pharmaceuticals ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (6/19/06, 6/22/06, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund share. The total expense ratio for SPDR S&P Pharmaceuticals ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.35%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | S&P PHARMACEUTICALS | NET ASSET | MARKET | S&P PHARMACEUTICALS | |||||||||||||||||||
VALUE | VALUE | SELECT INDUSTRY INDEX | VALUE | VALUE | SELECT INDUSTRY INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 20.05% | 20.06% | 20.28% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 22.32% | 22.41% | 22.73% | 22.32% | 22.41% | 22.73% | ||||||||||||||||||
THREE YEARS | 42.26% | 42.01% | 42.80% | 12.47% | 12.40% | 12.61% | ||||||||||||||||||
SINCE INCEPTION (1) | 55.20% | 55.31% | 56.59% | 10.17% | 10.19% | 10.38% | ||||||||||||||||||
(1) | For the period June 19, 2006 to December 31, 2010. |
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SPDR S&P Pharmaceuticals ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![LINE GRAPH](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370225.gif)
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SPDR S&P Pharmaceuticals ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
SALIX | WARNER | IMPAX | AUXILIUM | |||||||
DESCRIPTION | PHARMACEUTICALS, LTD. | CHILCOTT PLC | LABORATORIES, INC. | PHARMACEUTICALS, INC. | MYLAN, INC. | |||||
MARKET VALUE | $9,259,573 | 9,166,060 | 9,111,258 | 9,102,540 | 9,083,787 | |||||
% OF NET ASSETS | 4.4 | 4.4 | 4.3 | 4.3 | 4.3 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Pharmaceuticals | 100.0 | % | ||||
Short Term Investments | 5.4 | |||||
Other Assets & Liabilities | (5.4 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR S&P Retail ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (6/19/06, 6/22/06, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Retail ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.35%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | S&P RETAIL SELECT | NET ASSET | MARKET | S&P RETAIL SELECT | |||||||||||||||||||
VALUE | VALUE | INDUSTRY INDEX | VALUE | VALUE | INDUSTRY INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 36.48% | 36.62% | 36.73% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 37.08% | 37.23% | 37.41% | 37.08% | 37.23% | 37.41% | ||||||||||||||||||
THREE YEARS | 49.06% | 48.66% | 50.48% | 14.23% | 14.13% | 14.59% | ||||||||||||||||||
SINCE INCEPTION (1) | 38.81% | 38.92% | 40.95% | 7.50% | 7.51% | 7.86% | ||||||||||||||||||
(1) | For the period June 19, 2006 to December 31, 2010. |
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SPDR S&P Retail ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370226.gif)
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SPDR S&P Retail ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
DESCRIPTION | JO-ANN STORES, INC. | OFFICE DEPOT, INC. | SUPERVALU, INC. | THE KROGER CO. | SEARS HOLDINGS CORP. | |||||
MARKET VALUE | $19,755,352 | 16,789,432 | 16,759,802 | 16,395,358 | 16,379,285 | |||||
% OF NET ASSETS | 2.0 | 1.7 | 1.7 | 1.7 | 1.7 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Apparel Retail | 32.1 | % | ||||
Specialty Stores | 17.8 | |||||
Automotive Retail | 10.8 | |||||
Food Retail | 8.1 | |||||
Department Stores | 7.8 | |||||
Computer & Electronics Retail | 6.0 | |||||
General Merchandise Stores | 4.7 | |||||
Internet Retail | 4.5 | |||||
Drug Retail | 3.2 | |||||
Hypermarkets & Super Centers | 3.1 | |||||
Catalog Retail | 1.6 | |||||
Short Term Investments | 7.1 | |||||
Other Assets & Liabilities | (6.8 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR S&P Semiconductor ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (1/31/06, 2/6/06, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR S&P Semiconductor ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.35%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | S&P SEMICONDUCTOR | NET ASSET | MARKET | S&P SEMICONDUCTOR | |||||||||||||||||||
VALUE | VALUE | SELECT INDUSTRY INDEX | VALUE | VALUE | SELECT INDUSTRY INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 30.98% | 31.09% | 31.27% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 15.84% | 15.94% | 16.26% | 15.84% | 15.94% | 16.26% | ||||||||||||||||||
THREE YEARS | 20.43% | 20.24% | 19.24% | 6.39% | 6.34% | 6.04% | ||||||||||||||||||
SINCE INCEPTION (1) | 5.71% | 5.81% | 5.34% | 1.14% | 1.15% | 1.06% | ||||||||||||||||||
(1) | For the period January 31, 2006 to December 31, 2010. |
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SPDR S&P Semiconductor ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
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SPDR S&P Semiconductor ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
ON SEMICONDUCTOR | CYPRESS | ATHEROS | SKYWORKS | |||||||
DESCRIPTION | CORP. | NVIDIA CORP. | SEMICONDUCTOR CORP. | COMMUNICATIONS, INC. | SOLUTIONS, INC. | |||||
MARKET VALUE | $4,374,963 | 4,215,119 | 4,213,387 | 4,194,845 | 4,178,520 | |||||
% OF NET ASSETS | 4.0 | 3.9 | 3.9 | 3.8 | 3.8 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Semiconductors | 99.7 | % | ||||
Short Term Investments | 6.4 | |||||
Other Assets & Liabilities | (6.1 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR Wells Fargo Preferred Stock ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (9/16/09, 9/23/09, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Wells Fargo Preferred Stock ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.45%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
WELLS FARGO HYBRID AND | WELLS FARGO HYBRID AND | |||||||||||||||||||||||
NET ASSET | MARKET | PREFERRED SECURITIES | NET ASSET | MARKET | PREFERRED SECURITIES | |||||||||||||||||||
VALUE | VALUE | AGGREGATE INDEX | VALUE | VALUE | AGGREGATE INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 10.06% | 10.00% | 10.31% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 14.39% | 14.14% | 14.98% | 14.39% | 14.14% | 14.98% | ||||||||||||||||||
SINCE INCEPTION (1) | 21.12% | 20.95% | 22.05% | 15.97% | 15.85% | 16.69% | ||||||||||||||||||
(1) | For the period September 16, 2009 to December 31, 2010. |
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SPDR Wells Fargo Preferred Stock ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
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SPDR Wells Fargo Preferred Stock ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
BARCLAYS BANK PLC | HSBC HOLDINGS PLC, | CREDIT SUISSE | METLIFE, INC. | COUNTRYWIDE CAPITAL | ||||||
DESCRIPTION | SERIES 5, 8.13% | 8.00% | GUERNSEY, 7.90% | SERIES B, 6.50% | V, 7.00% | |||||
MARKET VALUE | $2,369,026 | 2,063,296 | 1,784,084 | 1,625,119 | 1,606,847 | |||||
% OF NET ASSETS | 2.3 | 2.0 | 1.7 | 1.6 | 1.6 | |||||
(The five largest holdings are subject to change, and there are no guarantees the Fund will continue to remain invested in any particular company.)
INDUSTRY BREAKDOWN AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
INDUSTRY | NET ASSETS | |||||
Commercial Banks | 38.1 | % | ||||
Diversified Financial Services | 24.9 | |||||
Insurance | 11.1 | |||||
Capital Markets | 9.1 | |||||
Real Estate Investment Trusts | 4.6 | |||||
Media | 3.8 | |||||
Electric Utilities | 3.4 | |||||
Wireless Telecommunication Services | 1.8 | |||||
Consumer Finance | 1.4 | |||||
Multi-Utilities | 1.3 | |||||
Independent Power Producers & Enery Traders | 0.3 | |||||
Short Term Investments | 12.6 | |||||
Other Assets & Liabilities | (12.4 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s industry breakdown is expressed as a percentage of net assets and may change over time. |
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SPDR Dow Jones Total Market ETF
SUMMARY SCHEDULE OF INVESTMENTS
SUMMARY SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
COMMON STOCKS | ||||||||||||
AEROSPACE & DEFENSE | ||||||||||||
United Technologies Corp. | 12,685 | $ | 998,563 | 0.49 | % | |||||||
Other Securities (a) | 3,597,473 | 1.78 | ||||||||||
4,596,036 | 2.27 | |||||||||||
AIR FREIGHT & LOGISTICS | ||||||||||||
United Parcel Service, Inc. (Class B) | 11,069 | 803,388 | 0.40 | |||||||||
Other Securities (b) | 952,729 | 0.47 | ||||||||||
1,756,117 | 0.87 | |||||||||||
AIRLINES | ||||||||||||
Other Securities (a)(b) | 470,349 | 0.23 | ||||||||||
AUTO COMPONENTS | ||||||||||||
Other Securities (a)(b) | 755,364 | 0.37 | ||||||||||
AUTOMOBILES | ||||||||||||
Ford Motor Co. (a) | 45,467 | 763,391 | 0.37 | |||||||||
Other Securities (b) | 174,017 | 0.09 | ||||||||||
937,408 | 0.46 | |||||||||||
BEVERAGES | ||||||||||||
PepsiCo, Inc. | 22,485 | 1,468,945 | 0.72 | |||||||||
The Coca-Cola Co. | 29,581 | 1,945,542 | 0.96 | |||||||||
Other Securities (a) | 556,509 | 0.28 | ||||||||||
3,970,996 | 1.96 | |||||||||||
BIOTECHNOLOGY | ||||||||||||
Amgen, Inc. (a) | 15,468 | 849,193 | 0.42 | |||||||||
Other Securities (a)(b) | 2,694,268 | 1.33 | ||||||||||
3,543,461 | 1.75 | |||||||||||
BUILDING PRODUCTS | ||||||||||||
Other Securities (a)(b) | 151,706 | 0.08 | ||||||||||
CAPITAL MARKETS | ||||||||||||
State Street Corp. (c) | 7,405 | 343,148 | 0.17 | |||||||||
The Goldman Sachs Group, Inc. | 6,399 | 1,076,056 | 0.53 | |||||||||
Other Securities (a)(b) | 3,258,520 | 1.61 | ||||||||||
4,677,724 | 2.31 | |||||||||||
CHEMICALS | ||||||||||||
Other Securities (a)(b) | 4,134,031 | 2.04 | ||||||||||
COMMERCIAL BANKS | ||||||||||||
Wells Fargo & Co. | 72,115 | 2,234,844 | 1.10 | |||||||||
Other Securities (a)(b) | 3,753,478 | 1.85 | ||||||||||
5,988,322 | 2.95 | |||||||||||
COMMERCIAL SERVICES & SUPPLIES | ||||||||||||
Other Securities (a)(b) | 1,293,896 | 0.64 | ||||||||||
COMMUNICATIONS EQUIPMENT | ||||||||||||
Cisco Systems, Inc. (a) | 85,246 | 1,724,527 | 0.85 | |||||||||
QUALCOMM, Inc. | 24,201 | 1,197,707 | 0.59 | |||||||||
Other Securities (a)(b) | 1,670,425 | 0.82 | ||||||||||
4,592,659 | 2.26 | |||||||||||
COMPUTERS & PERIPHERALS | ||||||||||||
Apple, Inc. (a) | 13,218 | 4,263,598 | 2.10 | |||||||||
EMC Corp. (a) | 30,282 | 693,458 | 0.34 | |||||||||
Hewlett-Packard Co. | 36,065 | 1,518,336 | 0.75 | |||||||||
Other Securities (a)(b) | 1,625,001 | 0.80 | ||||||||||
8,100,393 | 3.99 | |||||||||||
CONSTRUCTION & ENGINEERING | ||||||||||||
Other Securities (a)(b) | 581,531 | 0.29 | ||||||||||
CONSTRUCTION MATERIALS | ||||||||||||
Other Securities (b) | 202,749 | 0.10 | ||||||||||
CONSUMER FINANCE | ||||||||||||
American Express Co. | 16,219 | 696,120 | 0.34 | |||||||||
Other Securities (a) | 523,507 | 0.26 | ||||||||||
1,219,627 | 0.60 | |||||||||||
CONTAINERS & PACKAGING | ||||||||||||
Other Securities (a) | 393,163 | 0.19 | ||||||||||
DISTRIBUTORS | ||||||||||||
Other Securities (a) | 137,058 | 0.07 | ||||||||||
DIVERSIFIED CONSUMER SERVICES | ||||||||||||
Other Securities (a)(b) | 524,847 | 0.26 | ||||||||||
DIVERSIFIED FINANCIAL SERVICES | ||||||||||||
Bank of America Corp. | 148,833 | 1,985,432 | 0.98 | |||||||||
Citigroup, Inc. (a) | 313,139 | 1,481,148 | 0.73 | |||||||||
JPMorgan Chase & Co. | 59,229 | 2,512,494 | 1.24 | |||||||||
Other Securities (a)(b) | 1,141,479 | 0.56 | ||||||||||
7,120,553 | 3.51 | |||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES | ||||||||||||
AT&T, Inc. | 86,335 | 2,536,522 | 1.25 | |||||||||
Verizon Communications, Inc. | 40,833 | 1,461,005 | 0.72 | |||||||||
Other Securities (a)(b) | 842,403 | 0.42 | ||||||||||
4,839,930 | 2.39 | |||||||||||
ELECTRIC UTILITIES | ||||||||||||
Other Securities (b) | 339,003 | 0.17 | ||||||||||
ELECTRICAL EQUIPMENT | ||||||||||||
Other Securities (a)(b) | 1,402,267 | 0.69 | ||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS | ||||||||||||
Other Securities (a)(b) | 2,129,952 | 1.05 | ||||||||||
ENERGY EQUIPMENT & SERVICES | ||||||||||||
Schlumberger, Ltd. | 20,843 | 1,740,391 | 0.86 | |||||||||
Other Securities (a)(b) | 2,949,446 | 1.45 | ||||||||||
4,689,837 | 2.31 | |||||||||||
FOOD & STAPLES RETAILING | ||||||||||||
CVS Caremark Corp. | 22,117 | 769,008 | 0.38 | |||||||||
Wal-Mart Stores, Inc. | 27,272 | 1,470,779 | 0.72 | |||||||||
Other Securities (a)(b) | 1,807,222 | 0.89 | ||||||||||
4,047,009 | 1.99 | |||||||||||
FOOD PRODUCTS | ||||||||||||
Other Securities (a)(b) | 3,445,369 | 1.70 | ||||||||||
GAS UTILITIES | ||||||||||||
Other Securities (b) | 206,417 | 0.10 | ||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES | ||||||||||||
Other Securities (a)(b) | 4,000,869 | 1.97 | ||||||||||
HEALTH CARE PROVIDERS & SERVICES | ||||||||||||
Other Securities (a)(b) | 4,479,271 | 2.21 | ||||||||||
See accompanying notes to financial statements.
85
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SPDR Dow Jones Total Market ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
HEALTH CARE TECHNOLOGY | ||||||||||||
Other Securities (a) | $ | 7,287 | 0.00 | (d)% | ||||||||
HOTELS, RESTAURANTS & LEISURE | ||||||||||||
McDonald’s Corp. | 14,617 | 1,122,001 | 0.55 | |||||||||
Other Securities (a)(b) | 3,158,143 | 1.56 | ||||||||||
4,280,144 | 2.11 | |||||||||||
HOUSEHOLD DURABLES | ||||||||||||
Other Securities (a)(b) | 1,362,323 | 0.67 | ||||||||||
HOUSEHOLD PRODUCTS | ||||||||||||
Procter & Gamble Co. | 41,182 | 2,649,238 | 1.31 | |||||||||
Other Securities (a)(b) | 1,287,576 | 0.63 | ||||||||||
3,936,814 | 1.94 | |||||||||||
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS | ||||||||||||
Other Securities (a) | 70,199 | 0.03 | ||||||||||
INDUSTRIAL CONGLOMERATES | ||||||||||||
3M Co. | 9,437 | 814,413 | 0.40 | |||||||||
General Electric Co. | 156,586 | 2,863,958 | 1.41 | |||||||||
Other Securities (a)(b) | 291,145 | 0.15 | ||||||||||
3,969,516 | 1.96 | |||||||||||
INSURANCE | ||||||||||||
Berkshire Hathaway, Inc. (Class B) (a) | 28,233 | 2,261,746 | 1.11 | |||||||||
Other Securities (a)(b) | 5,796,678 | 2.86 | ||||||||||
8,058,424 | 3.97 | |||||||||||
INTERNET & CATALOG RETAIL | ||||||||||||
Amazon.com, Inc. (a) | 4,827 | 868,860 | 0.43 | |||||||||
Other Securities (a)(b) | 620,768 | 0.30 | ||||||||||
1,489,628 | 0.73 | |||||||||||
INTERNET SOFTWARE & SERVICES | ||||||||||||
Google, Inc. (Class A) (a) | 3,354 | 1,992,175 | 0.98 | |||||||||
Other Securities (a)(b) | 1,438,035 | 0.71 | ||||||||||
3,430,210 | 1.69 | |||||||||||
IT SERVICES | ||||||||||||
International Business Machines Corp. | 17,578 | 2,579,747 | 1.27 | |||||||||
Other Securities (a)(b) | 2,923,053 | 1.44 | ||||||||||
5,502,800 | 2.71 | |||||||||||
LEISURE EQUIPMENT & PRODUCTS | ||||||||||||
Other Securities (a)(b) | 504,178 | 0.25 | �� | |||||||||
LIFE SCIENCES TOOLS & SERVICES | ||||||||||||
Other Securities (a)(b) | 1,203,817 | 0.59 | ||||||||||
MACHINERY | ||||||||||||
Caterpillar, Inc. | 9,065 | 849,028 | 0.42 | |||||||||
Other Securities (a)(b) | 4,645,804 | 2.29 | ||||||||||
5,494,832 | 2.71 | |||||||||||
MARINE | ||||||||||||
Other Securities (a)(b) | 6,048 | 0.00 | (d) | |||||||||
MEDIA | ||||||||||||
Comcast Corp. (Class A) | 40,990 | 900,550 | 0.44 | |||||||||
The Walt Disney Co. | 26,822 | 1,006,093 | 0.50 | |||||||||
Other Securities (a)(b) | 4,472,600 | 2.20 | ||||||||||
6,379,243 | 3.14 | |||||||||||
METALS & MINING | ||||||||||||
Freeport-McMoRan Copper & Gold, Inc. (b) | 6,859 | 823,697 | 0.41 | |||||||||
Other Securities (a)(b) | 2,019,873 | 0.99 | ||||||||||
2,843,570 | 1.40 | |||||||||||
MULTI-UTILITIES | ||||||||||||
Other Securities (a)(b) | 5,940,118 | 2.93 | ||||||||||
MULTILINE RETAIL | ||||||||||||
Other Securities (a)(b) | 1,794,019 | 0.88 | ||||||||||
OFFICE ELECTRONICS | ||||||||||||
Other Securities (a) | 379,727 | 0.19 | ||||||||||
OIL, GAS & CONSUMABLE FUELS | ||||||||||||
Chevron Corp. | 29,540 | 2,695,525 | 1.33 | |||||||||
ConocoPhillips | 19,651 | 1,338,233 | 0.66 | |||||||||
Exxon Mobil Corp. | 74,662 | 5,459,285 | 2.69 | |||||||||
Occidental Petroleum Corp. | 12,203 | 1,197,114 | 0.59 | |||||||||
Other Securities (a)(b) | 7,138,096 | 3.52 | ||||||||||
17,828,253 | 8.79 | |||||||||||
PAPER & FOREST PRODUCTS | ||||||||||||
Other Securities (a)(b) | 531,737 | 0.26 | ||||||||||
PERSONAL PRODUCTS | ||||||||||||
Other Securities | 516,364 | 0.25 | ||||||||||
PHARMACEUTICALS | ||||||||||||
Abbott Laboratories | 21,631 | 1,036,341 | 0.51 | |||||||||
Bristol-Myers Squibb Co. | 27,649 | 732,146 | 0.36 | |||||||||
Johnson & Johnson | 38,483 | 2,380,174 | 1.17 | |||||||||
Merck & Co., Inc. | 44,937 | 1,619,529 | 0.80 | |||||||||
Pfizer, Inc. | 117,400 | 2,055,674 | 1.01 | |||||||||
Other Securities (a)(b) | 1,572,942 | 0.78 | ||||||||||
9,396,806 | 4.63 | |||||||||||
PROFESSIONAL SERVICES | ||||||||||||
Other Securities (a)(b) | 519,242 | 0.26 | ||||||||||
REAL ESTATE INVESTMENT TRUSTS | ||||||||||||
Other Securities (a)(b) | 4,857,569 | 2.39 | ||||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT | ||||||||||||
Other Securities (a)(b) | 294,437 | 0.15 | ||||||||||
ROAD & RAIL | ||||||||||||
Other Securities (a) | 1,950,288 | 0.96 | ||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||
Intel Corp. | 81,803 | 1,720,317 | 0.85 | |||||||||
Other Securities (a)(b) | 4,139,893 | 2.04 | ||||||||||
5,860,210 | 2.89 | |||||||||||
SOFTWARE | ||||||||||||
Microsoft Corp. | 115,280 | 3,218,618 | 1.59 | |||||||||
Oracle Corp. | 58,108 | 1,818,780 | 0.90 | |||||||||
Other Securities (a)(b) | 3,345,322 | 1.64 | ||||||||||
8,382,720 | 4.13 | |||||||||||
SPECIALTY RETAIL | ||||||||||||
The Home Depot, Inc. | 25,719 | 901,708 | 0.44 |
See accompanying notes to financial statements.
86
Table of Contents
SPDR Dow Jones Total Market ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
Other Securities (a)(b) | $ | 3,830,135 | 1.89 | % | ||||||||
4,731,843 | 2.33 | |||||||||||
TEXTILES, APPAREL & LUXURY GOODS | ||||||||||||
Other Securities (a)(b) | 1,129,063 | 0.56 | ||||||||||
THRIFTS & MORTGAGE FINANCE | ||||||||||||
Other Securities (a)(b) | 596,113 | 0.29 | ||||||||||
TOBACCO | ||||||||||||
Altria Group, Inc. | 30,387 | 748,128 | 0.37 | |||||||||
Philip Morris International, Inc. | 27,939 | 1,635,270 | 0.80 | |||||||||
Other Securities | 377,111 | 0.19 | ||||||||||
2,760,509 | 1.36 | |||||||||||
TRADING COMPANIES & DISTRIBUTORS | ||||||||||||
Other Securities (a)(b) | 354,612 | 0.17 | ||||||||||
WATER UTILITIES | ||||||||||||
Other Securities (a)(b) | 210,443 | 0.10 | ||||||||||
WIRELESS TELECOMMUNICATION SERVICES | ||||||||||||
Other Securities (a)(b) | 1,064,735 | 0.52 | ||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $180,807,646) | 202,365,755 | 99.72 | ||||||||||
SHORT TERM INVESTMENTS | ||||||||||||
MONEY MARKET FUNDS | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (e)(f) | 8,943,188 | 8,943,188 | 4.41 | |||||||||
State Street Institutional Liquid Reserves Fund 0.18% (f)(g) | 321,478 | 321,478 | 0.16 | |||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $9,264,666) | 9,264,666 | 4.57 | ||||||||||
TOTAL INVESTMENTS (h) | ||||||||||||
(Cost $190,072,312) | 211,630,421 | 104.29 | ||||||||||
OTHER ASSETS & LIABILITIES | (8,700,397 | ) | (4.29 | ) | ||||||||
NET ASSETS | $ | 202,930,024 | 100.00 | |||||||||
Other Securities are those securities, which individually are not one of the 50 largest unaffiliated issuers and which represent less than one percent of the net assets of the Fund at December 31, 2010.
(a) | Non-income producing security. | |||||
(b) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(c) | Affiliated issuer. (Note 3) | |||||
(d) | Amount shown represents less than 0.005% of net assets. | |||||
(e) | Investments of cash collateral for securities loaned. | |||||
(f) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(g) | The rate shown is the annualized seven-day yield at period end. | |||||
(h) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
87
Table of Contents
SPDR Dow Jones Large Cap ETF
SUMMARY SCHEDULE OF INVESTMENTS
SUMMARY SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
COMMON STOCKS | ||||||||||||
AEROSPACE & DEFENSE | ||||||||||||
United Technologies Corp. | 2,823 | $ | 222,227 | 0.54 | % | |||||||
Other Securities (a)(b) | 734,460 | 1.78 | ||||||||||
956,687 | 2.32 | |||||||||||
AIR FREIGHT & LOGISTICS | ||||||||||||
United Parcel Service, Inc. (Class B) | 2,320 | 168,386 | 0.41 | |||||||||
Other Securities (a) | 178,149 | 0.43 | ||||||||||
346,535 | 0.84 | |||||||||||
AIRLINES | ||||||||||||
Other Securities (a)(b) | 95,207 | 0.23 | ||||||||||
AUTO COMPONENTS | ||||||||||||
Other Securities (a)(b) | 150,666 | 0.37 | ||||||||||
AUTOMOBILES | ||||||||||||
Ford Motor Co. (a)(b) | 11,392 | 191,271 | 0.46 | |||||||||
Other Securities (a)(b) | 94,327 | 0.23 | ||||||||||
285,598 | 0.69 | |||||||||||
BEVERAGES | ||||||||||||
PepsiCo, Inc. | 5,237 | 342,133 | 0.83 | |||||||||
The Coca-Cola Co. | 7,104 | 467,230 | 1.13 | |||||||||
Other Securities (a)(b) | 133,682 | 0.32 | ||||||||||
943,045 | 2.28 | |||||||||||
BIOTECHNOLOGY | ||||||||||||
Amgen, Inc. (b) | 3,159 | 173,429 | 0.42 | |||||||||
Other Securities (a)(b) | 402,724 | 0.98 | ||||||||||
576,153 | 1.40 | |||||||||||
BUILDING PRODUCTS | ||||||||||||
Other Securities (a) | 15,926 | 0.04 | ||||||||||
CAPITAL MARKETS | ||||||||||||
State Street Corp. (c) | 1,691 | 78,361 | 0.19 | |||||||||
The Goldman Sachs Group, Inc. | 1,439 | 241,982 | 0.59 | |||||||||
Other Securities (a)(b) | 725,844 | 1.75 | ||||||||||
1,046,187 | 2.53 | |||||||||||
CHEMICALS | ||||||||||||
Other Securities (a)(b) | 955,291 | 2.31 | ||||||||||
COMMERCIAL BANKS | ||||||||||||
U.S. Bancorp (a) | 6,330 | 170,720 | 0.41 | |||||||||
Wells Fargo & Co. | 16,576 | 513,690 | 1.24 | |||||||||
Other Securities (a)(b) | 453,443 | 1.11 | ||||||||||
1,137,853 | 2.76 | |||||||||||
COMMERCIAL SERVICES & SUPPLIES | ||||||||||||
Other Securities (a)(b) | 223,764 | 0.54 | ||||||||||
COMMUNICATIONS EQUIPMENT | ||||||||||||
Cisco Systems, Inc. (b) | 18,377 | 371,767 | 0.90 | |||||||||
QUALCOMM, Inc. | 5,296 | 262,099 | 0.63 | |||||||||
Other Securities (a)(b) | 194,822 | 0.48 | ||||||||||
828,688 | 2.01 | |||||||||||
COMPUTERS & PERIPHERALS | ||||||||||||
Apple, Inc. (b) | 3,032 | 978,002 | 2.37 | |||||||||
EMC Corp. (b) | 6,730 | 154,117 | 0.37 | |||||||||
Hewlett-Packard Co. | 7,517 | 316,466 | 0.77 | |||||||||
Other Securities (a)(b) | 262,560 | 0.63 | ||||||||||
1,711,145 | 4.14 | |||||||||||
CONSTRUCTION & ENGINEERING | ||||||||||||
Other Securities (a)(b) | 133,367 | 0.32 | ||||||||||
CONSTRUCTION MATERIALS | ||||||||||||
Other Securities (a) | 29,982 | 0.07 | ||||||||||
CONSUMER FINANCE | ||||||||||||
Other Securities (a)(b) | 271,602 | 0.66 | ||||||||||
CONTAINERS & PACKAGING | ||||||||||||
Other Securities (a)(b) | 109,111 | 0.26 | ||||||||||
DISTRIBUTORS | ||||||||||||
Other Securities (a) | 28,340 | 0.07 | ||||||||||
DIVERSIFIED CONSUMER SERVICES | ||||||||||||
Other Securities (a)(b) | 53,636 | 0.13 | ||||||||||
DIVERSIFIED FINANCIAL SERVICES | ||||||||||||
Bank of America Corp. | 32,927 | 439,246 | 1.07 | |||||||||
Citigroup, Inc. (b) | 96,266 | 455,338 | 1.10 | |||||||||
JPMorgan Chase & Co. | 12,955 | 549,551 | 1.33 | |||||||||
Other Securities (a)(b) | 219,973 | 0.53 | ||||||||||
1,664,108 | 4.03 | |||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES | ||||||||||||
AT&T, Inc. | 19,757 | 580,461 | 1.41 | |||||||||
Verizon Communications, Inc. | 9,327 | 333,720 | 0.81 | |||||||||
Other Securities (a) | 137,725 | 0.33 | ||||||||||
1,051,906 | 2.55 | |||||||||||
ELECTRIC UTILITIES | ||||||||||||
Other Securities (a) | 29,406 | 0.07 | ||||||||||
ELECTRICAL EQUIPMENT | ||||||||||||
Other Securities (a)(b) | 267,923 | 0.65 | ||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS | ||||||||||||
Other Securities (a)(b) | 357,034 | 0.86 | ||||||||||
ENERGY EQUIPMENT & SERVICES | ||||||||||||
Schlumberger, Ltd. | 4,507 | 376,334 | 0.91 | |||||||||
Other Securities (a)(b) | 578,449 | 1.40 | ||||||||||
954,783 | 2.31 | |||||||||||
FOOD & STAPLES RETAILING | ||||||||||||
CVS Caremark Corp. | 4,569 | 158,864 | 0.38 | |||||||||
Wal-Mart Stores, Inc. | 6,715 | 362,140 | 0.88 | |||||||||
Other Securities (a)(b) | 389,259 | 0.94 | ||||||||||
910,263 | 2.20 | |||||||||||
FOOD PRODUCTS | ||||||||||||
Kraft Foods, Inc. (Class A) (a) | 5,371 | 169,240 | 0.41 | |||||||||
Other Securities (a)(b) | 534,120 | 1.29 | ||||||||||
703,360 | 1.70 | |||||||||||
GAS UTILITIES | ||||||||||||
Other Securities (a) | 51,178 | 0.12 | ||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES | ||||||||||||
Other Securities (a)(b) | 823,607 | 2.00 | ||||||||||
HEALTH CARE PROVIDERS & SERVICES | ||||||||||||
Other Securities (a)(b) | 803,264 | 1.95 | ||||||||||
See accompanying notes to financial statements.
88
Table of Contents
SPDR Dow Jones Large Cap ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
HEALTH CARE TECHNOLOGY | ||||||||||||
Other Securities (a)(b) | $ | 20,369 | 0.05 | % | ||||||||
HOTELS, RESTAURANTS & LEISURE | ||||||||||||
McDonald’s Corp. | 3,555 | 272,882 | 0.66 | |||||||||
Other Securities (a)(b) | 520,547 | 1.26 | ||||||||||
793,429 | 1.92 | |||||||||||
HOUSEHOLD DURABLES | ||||||||||||
Other Securities (a)(b) | 201,371 | 0.49 | ||||||||||
HOUSEHOLD PRODUCTS | ||||||||||||
Procter & Gamble Co. | 9,305 | 598,591 | 1.45 | |||||||||
Other Securities (a)(b) | 267,007 | 0.65 | ||||||||||
865,598 | 2.10 | |||||||||||
INDUSTRIAL CONGLOMERATES | ||||||||||||
3M Co. | 2,194 | 189,342 | 0.46 | |||||||||
General Electric Co. | 35,395 | 647,374 | 1.57 | |||||||||
Other Securities (a)(b) | 101,606 | 0.24 | ||||||||||
938,322 | 2.27 | |||||||||||
INSURANCE | ||||||||||||
Berkshire Hathaway, Inc. (Class B) (a)(b) | 6,341 | 507,977 | 1.23 | |||||||||
Other Securities (a)(b) | 1,200,682 | 2.91 | ||||||||||
1,708,659 | 4.14 | |||||||||||
INTERNET & CATALOG RETAIL | ||||||||||||
Amazon.com, Inc. (b) | 1,148 | 206,640 | 0.50 | |||||||||
Other Securities (a)(b) | 142,064 | 0.34 | ||||||||||
348,704 | 0.84 | |||||||||||
INTERNET SOFTWARE & SERVICES | ||||||||||||
Google, Inc. (Class A) (b) | 768 | 456,169 | 1.11 | |||||||||
Other Securities (a)(b) | 246,895 | 0.59 | ||||||||||
703,064 | 1.70 | |||||||||||
IT SERVICES | ||||||||||||
International Business Machines Corp. | 4,092 | 600,542 | 1.45 | |||||||||
Other Securities (a)(b) | 676,178 | 1.64 | ||||||||||
1,276,720 | 3.09 | |||||||||||
LEISURE EQUIPMENT & PRODUCTS | ||||||||||||
Other Securities (a) | 51,548 | 0.13 | ||||||||||
LIFE SCIENCES TOOLS & SERVICES | ||||||||||||
Other Securities (a)(b) | 206,577 | 0.50 | ||||||||||
MACHINERY | ||||||||||||
Caterpillar, Inc. | 1,887 | 176,737 | 0.43 | |||||||||
Other Securities (a)(b) | 778,910 | 1.88 | ||||||||||
955,647 | 2.31 | |||||||||||
MEDIA | ||||||||||||
Comcast Corp. (Class A) | 9,338 | 205,156 | 0.50 | |||||||||
The Walt Disney Co. | 5,874 | 220,334 | 0.53 | |||||||||
Other Securities (a)(b) | 870,285 | 2.11 | ||||||||||
1,295,775 | 3.14 | |||||||||||
METALS & MINING | ||||||||||||
Freeport-McMoRan Copper & Gold, Inc. | 1,514 | 181,816 | 0.44 | |||||||||
Other Securities (a)(b) | 359,464 | 0.87 | ||||||||||
541,280 | 1.31 | |||||||||||
MULTI-UTILITIES | ||||||||||||
Other Securities (a)(b) | 1,503,270 | 3.64 | ||||||||||
MULTILINE RETAIL | ||||||||||||
Other Securities (a)(b) | 324,932 | 0.79 | ||||||||||
OFFICE ELECTRONICS | ||||||||||||
Other Securities | 51,921 | 0.13 | ||||||||||
OIL, GAS & CONSUMABLE FUELS | ||||||||||||
Chevron Corp. | 6,651 | 606,904 | 1.47 | |||||||||
ConocoPhillips | 4,608 | 313,805 | 0.76 | |||||||||
Exxon Mobil Corp. | 16,735 | 1,223,663 | 2.96 | |||||||||
Occidental Petroleum Corp. | 2,691 | 263,987 | 0.64 | |||||||||
Other Securities (a)(b) | 1,360,982 | 3.30 | ||||||||||
3,769,341 | 9.13 | |||||||||||
PAPER & FOREST PRODUCTS | ||||||||||||
Other Securities (a) | 83,760 | 0.20 | ||||||||||
PERSONAL PRODUCTS | ||||||||||||
Other Securities (a) | 99,478 | 0.24 | ||||||||||
PHARMACEUTICALS | ||||||||||||
Abbott Laboratories | 5,124 | 245,491 | 0.60 | |||||||||
Johnson & Johnson | 9,149 | 565,866 | 1.37 | |||||||||
Merck & Co., Inc. | 10,206 | 367,824 | 0.89 | |||||||||
Pfizer, Inc. | 26,709 | 467,675 | 1.13 | |||||||||
Other Securities (a)(b) | 467,699 | 1.13 | ||||||||||
2,114,555 | 5.12 | |||||||||||
PROFESSIONAL SERVICES | ||||||||||||
Other Securities (a)(b) | 94,358 | 0.23 | ||||||||||
REAL ESTATE INVESTMENT TRUSTS | ||||||||||||
Other Securities (a)(b) | 736,413 | 1.78 | ||||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT | ||||||||||||
Other Securities (a)(b) | 40,862 | 0.10 | ||||||||||
ROAD & RAIL | ||||||||||||
Other Securities (a)(b) | 357,267 | 0.87 | ||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||
Intel Corp. | 18,469 | 388,403 | 0.94 | |||||||||
Other Securities (a)(b) | 662,533 | 1.61 | ||||||||||
1,050,936 | 2.55 | |||||||||||
SOFTWARE | ||||||||||||
Microsoft Corp. | 25,310 | 706,655 | 1.71 | |||||||||
Oracle Corp. | 12,653 | 396,039 | 0.96 | |||||||||
Other Securities (a)(b) | 515,745 | 1.25 | ||||||||||
1,618,439 | 3.92 | |||||||||||
SPECIALTY RETAIL | ||||||||||||
The Home Depot, Inc. (a) | 5,431 | 190,411 | 0.46 | |||||||||
Other Securities (a)(b) | 619,290 | 1.50 | ||||||||||
809,701 | 1.96 | |||||||||||
TEXTILES, APPAREL & LUXURY GOODS | ||||||||||||
Other Securities (a) | 201,102 | 0.49 | ||||||||||
THRIFTS & MORTGAGE FINANCE | ||||||||||||
Other Securities (a) | 73,816 | 0.18 | ||||||||||
See accompanying notes to financial statements.
89
Table of Contents
SPDR Dow Jones Large Cap ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
TOBACCO | ||||||||||||
Altria Group, Inc. | 6,979 | $ | 171,823 | 0.42 | % | |||||||
Philip Morris International, Inc. | 6,046 | 353,872 | 0.86 | |||||||||
Other Securities (a) | 76,460 | 0.18 | ||||||||||
602,155 | 1.46 | |||||||||||
TRADING COMPANIES & DISTRIBUTORS | ||||||||||||
Other Securities (a) | 65,401 | 0.16 | ||||||||||
WIRELESS TELECOMMUNICATION SERVICES | ||||||||||||
Other Securities (a)(b) | 215,395 | 0.52 | ||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $32,504,055) | 41,235,780 | 99.87 | ||||||||||
SHORT TERM INVESTMENTS | ||||||||||||
MONEY MARKET FUNDS | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 3,000,511 | 3,000,511 | 7.27 | |||||||||
State Street Institutional Liquid Reserves Fund 0.18% (e)(f) | 16,977 | 16,977 | 0.04 | |||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $3,017,488) | 3,017,488 | 7.31 | ||||||||||
TOTAL INVESTMENTS (g) | ||||||||||||
(Cost $35,521,543) | 44,253,268 | 107.18 | ||||||||||
OTHER ASSETS & LIABILITIES | (2,963,539 | ) | (7.18 | ) | ||||||||
NET ASSETS | $ | 41,289,729 | 100.00 | |||||||||
Other Securities are those securities, which individually are not one of the top 50 largest unaffiliated issuers and which represent less than one percent of the net assets of the Fund at December 31, 2010.
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Non-income producing security. | |||||
(c) | Affiliated issuer. (Note 3) | |||||
(d) | Investments of cash collateral for securities loaned. | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
90
Table of Contents
SPDR S&P 500 Growth ETF
SUMMARY SCHEDULE OF INVESTMENTS
SUMMARY SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
COMMON STOCKS | ||||||||||||
AEROSPACE & DEFENSE | ||||||||||||
Boeing Co. | 14,300 | $ | 933,218 | 0.49 | % | |||||||
United Technologies Corp. (a) | 19,500 | 1,535,040 | 0.81 | |||||||||
Other Securities | 3,072,064 | 1.61 | ||||||||||
5,540,322 | 2.91 | |||||||||||
AIR FREIGHT & LOGISTICS | ||||||||||||
United Parcel Service, Inc. (Class B) | 16,700 | 1,212,086 | 0.64 | |||||||||
Other Securities | 634,195 | 0.33 | ||||||||||
1,846,281 | 0.97 | |||||||||||
AIRLINES | ||||||||||||
Other Securities | 160,952 | 0.09 | ||||||||||
AUTOMOBILES | ||||||||||||
Ford Motor Co. (b) | 71,900 | 1,207,201 | 0.64 | |||||||||
Other Securities (a) | 117,878 | 0.06 | ||||||||||
1,325,079 | 0.70 | |||||||||||
BEVERAGES | ||||||||||||
PepsiCo, Inc. | 51,538 | 3,366,978 | 1.77 | |||||||||
The Coca-Cola Co. | 75,500 | 4,965,635 | 2.61 | |||||||||
Other Securities | 775,285 | 0.40 | ||||||||||
9,107,898 | 4.78 | |||||||||||
BIOTECHNOLOGY | ||||||||||||
Amgen, Inc. (b) | 16,566 | 909,473 | 0.48 | |||||||||
Gilead Sciences, Inc. (b) | 26,568 | 962,824 | 0.50 | |||||||||
Other Securities (a)(b) | 2,087,724 | 1.10 | ||||||||||
3,960,021 | 2.08 | |||||||||||
CAPITAL MARKETS | ||||||||||||
Other Securities | 1,997,811 | 1.05 | ||||||||||
CHEMICALS | ||||||||||||
Praxair, Inc. | 9,969 | 951,741 | 0.50 | |||||||||
Other Securities (a) | 3,618,801 | 1.90 | ||||||||||
4,570,542 | 2.40 | |||||||||||
COMMERCIAL BANKS | ||||||||||||
Wells Fargo & Co. | 83,600 | 2,590,764 | 1.36 | |||||||||
Other Securities | 102,564 | 0.05 | ||||||||||
2,693,328 | 1.41 | |||||||||||
COMMERCIAL SERVICES & SUPPLIES | ||||||||||||
Other Securities (a)(b) | 750,221 | 0.39 | ||||||||||
COMMUNICATIONS EQUIPMENT | ||||||||||||
Cisco Systems, Inc. (b) | 102,761 | 2,078,855 | 1.09 | |||||||||
QUALCOMM, Inc. | 52,576 | 2,601,986 | 1.37 | |||||||||
Other Securities (a)(b) | 1,173,522 | 0.62 | ||||||||||
5,854,363 | 3.08 | |||||||||||
COMPUTERS & PERIPHERALS | ||||||||||||
Apple, Inc. (b) | 29,771 | 9,602,934 | 5.04 | |||||||||
EMC Corp. (b) | 66,992 | 1,534,117 | 0.81 | |||||||||
Hewlett-Packard Co. | 39,833 | 1,676,969 | 0.88 | |||||||||
Other Securities (b) | 1,539,843 | 0.81 | ||||||||||
14,353,863 | 7.54 | |||||||||||
CONSTRUCTION & ENGINEERING | ||||||||||||
Other Securities | 216,339 | 0.11 | ||||||||||
CONSUMER FINANCE | ||||||||||||
Other Securities (a) | 802,604 | 0.42 | ||||||||||
CONTAINERS & PACKAGING | ||||||||||||
Other Securities | 197,413 | 0.10 | ||||||||||
DIVERSIFIED CONSUMER SERVICES | ||||||||||||
Other Securities (a)(b) | 260,007 | 0.14 | ||||||||||
DIVERSIFIED FINANCIAL SERVICES | ||||||||||||
Other Securities (a)(b) | 483,286 | 0.25 | ||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES | ||||||||||||
AT&T, Inc. | 80,700 | 2,370,966 | 1.24 | |||||||||
Verizon Communications, Inc. | 36,800 | 1,316,704 | 0.69 | |||||||||
Other Securities | 936,652 | 0.50 | ||||||||||
4,624,322 | 2.43 | |||||||||||
ELECTRICAL EQUIPMENT | ||||||||||||
Other Securities (a) | 1,327,956 | 0.70 | ||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS | ||||||||||||
Other Securities (a)(b) | 1,565,061 | 0.82 | ||||||||||
ENERGY EQUIPMENT & SERVICES | ||||||||||||
National-Oilwell Varco, Inc. | 13,673 | 919,509 | 0.48 | |||||||||
Schlumberger, Ltd. | 44,363 | 3,704,310 | 1.94 | |||||||||
Other Securities (a)(b) | 1,952,904 | 1.03 | ||||||||||
6,576,723 | 3.45 | |||||||||||
FOOD & STAPLES RETAILING | ||||||||||||
Other Securities (a)(b) | 242,630 | 0.13 | ||||||||||
FOOD PRODUCTS | ||||||||||||
Other Securities (a) | 2,960,083 | 1.56 | ||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES | ||||||||||||
Other Securities (a)(b) | 4,394,886 | 2.31 | ||||||||||
HEALTH CARE PROVIDERS & SERVICES | ||||||||||||
Express Scripts, Inc. (Class A) (b) | 17,117 | 925,174 | 0.49 | |||||||||
Other Securities (a)(b) | 2,174,795 | 1.14 | ||||||||||
3,099,969 | 1.63 | |||||||||||
HEALTH CARE TECHNOLOGY | ||||||||||||
Other Securities (a)(b) | 211,175 | 0.11 | ||||||||||
HOTELS, RESTAURANTS & LEISURE | ||||||||||||
McDonald’s Corp. | 34,400 | 2,640,544 | 1.39 | |||||||||
Other Securities (a) | 3,326,065 | 1.74 | ||||||||||
5,966,609 | 3.13 | |||||||||||
HOUSEHOLD DURABLES | ||||||||||||
Other Securities (a)(b) | 291,017 | 0.15 | ||||||||||
HOUSEHOLD PRODUCTS | ||||||||||||
Colgate-Palmolive Co. | 15,578 | 1,252,004 | 0.66 | |||||||||
Procter & Gamble Co. (a) | 43,700 | 2,811,221 | 1.48 | |||||||||
Other Securities | 687,808 | 0.36 | ||||||||||
4,751,033 | 2.50 | |||||||||||
INDUSTRIAL CONGLOMERATES | ||||||||||||
3M Co. | 12,800 | 1,104,640 | 0.58 | |||||||||
Other Securities | 310,800 | 0.16 | ||||||||||
1,415,440 | 0.74 | |||||||||||
See accompanying notes to financial statements.
91
Table of Contents
SPDR S&P 500 Growth ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
INSURANCE | ||||||||||||
Other Securities | $ | 524,799 | 0.28 | % | ||||||||
INTERNET & CATALOG RETAIL | ||||||||||||
Amazon.com, Inc. (b) | 11,519 | 2,073,420 | 1.09 | |||||||||
Other Securities (a)(b) | 1,057,155 | 0.55 | ||||||||||
3,130,575 | 1.64 | |||||||||||
INTERNET SOFTWARE & SERVICES | ||||||||||||
eBay, Inc. (b) | 37,278 | 1,037,447 | 0.55 | |||||||||
Google, Inc. (Class A) (b) | 8,111 | 4,817,691 | 2.53 | |||||||||
Other Securities (a)(b) | 755,757 | 0.39 | ||||||||||
6,610,895 | 3.47 | |||||||||||
IT SERVICES | ||||||||||||
International Business Machines Corp. | 40,400 | 5,929,104 | 3.11 | |||||||||
Visa, Inc. (Class A) | 15,826 | 1,113,834 | 0.58 | |||||||||
Other Securities (a)(b) | 2,727,636 | 1.44 | ||||||||||
9,770,574 | 5.13 | |||||||||||
LEISURE EQUIPMENT & PRODUCTS | ||||||||||||
Other Securities | 395,774 | 0.21 | ||||||||||
LIFE SCIENCES TOOLS & SERVICES | ||||||||||||
Other Securities (b) | 1,058,419 | 0.56 | ||||||||||
MACHINERY | ||||||||||||
Caterpillar, Inc. | 11,161 | 1,045,339 | 0.55 | |||||||||
Deere & Co. | 13,765 | 1,143,183 | 0.60 | |||||||||
Other Securities (a) | 3,613,015 | 1.90 | ||||||||||
5,801,537 | 3.05 | |||||||||||
MEDIA | ||||||||||||
Comcast Corp. (Class A) | 90,705 | 1,992,789 | 1.05 | |||||||||
DIRECTV (Class A) (b) | 27,450 | 1,096,078 | 0.57 | |||||||||
The Walt Disney Co. | 33,300 | 1,249,083 | 0.66 | |||||||||
Other Securities (a)(b) | 3,360,836 | 1.76 | ||||||||||
7,698,786 | 4.04 | |||||||||||
METALS & MINING | ||||||||||||
Freeport-McMoRan Copper & Gold, Inc. | 15,340 | 1,842,181 | 0.97 | |||||||||
Newmont Mining Corp. | 16,049 | 985,890 | 0.52 | |||||||||
Other Securities (a)(b) | 490,544 | 0.25 | ||||||||||
3,318,615 | 1.74 | |||||||||||
MULTI-UTILITIES | ||||||||||||
Other Securities | 1,296,735 | 0.68 | ||||||||||
MULTILINE RETAIL | ||||||||||||
Other Securities (b) | 1,787,780 | 0.94 | ||||||||||
OIL, GAS & CONSUMABLE FUELS | ||||||||||||
Occidental Petroleum Corp. | 13,168 | 1,291,781 | 0.68 | |||||||||
Other Securities (a)(b) | 5,253,159 | 2.76 | ||||||||||
6,544,940 | 3.44 | |||||||||||
PERSONAL PRODUCTS | ||||||||||||
Other Securities | 716,486 | 0.38 | ||||||||||
PHARMACEUTICALS | ||||||||||||
Abbott Laboratories | 50,300 | 2,409,873 | 1.27 | |||||||||
Eli Lilly & Co. | 33,000 | 1,156,320 | 0.61 | |||||||||
Johnson & Johnson | 53,600 | 3,315,160 | 1.74 | |||||||||
Merck & Co., Inc. | 65,100 | 2,346,204 | 1.23 | |||||||||
Other Securities (b) | 2,173,731 | 1.14 | ||||||||||
11,401,288 | 5.99 | |||||||||||
PROFESSIONAL SERVICES | ||||||||||||
Other Securities (a) | 275,002 | 0.14 | ||||||||||
REAL ESTATE INVESTMENT TRUSTS | ||||||||||||
Simon Property Group, Inc. | 9,542 | 949,334 | 0.50 | |||||||||
Other Securities | 2,426,713 | 1.27 | ||||||||||
3,376,047 | 1.77 | |||||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT | ||||||||||||
Other Securities (b) | 191,099 | 0.10 | ||||||||||
ROAD & RAIL | ||||||||||||
Union Pacific Corp. | 9,798 | 907,883 | 0.48 | |||||||||
Other Securities (a) | 770,152 | 0.40 | ||||||||||
1,678,035 | 0.88 | |||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||
Intel Corp. | 105,200 | 2,212,356 | 1.16 | |||||||||
Texas Instruments, Inc. | 38,200 | 1,241,500 | 0.65 | |||||||||
Other Securities (a)(b) | 3,370,918 | 1.77 | ||||||||||
6,824,774 | 3.58 | |||||||||||
SOFTWARE | ||||||||||||
Microsoft Corp. | 244,819 | 6,835,347 | 3.59 | |||||||||
Oracle Corp. | 125,922 | 3,941,359 | 2.07 | |||||||||
Other Securities (a)(b) | 3,446,936 | 1.81 | ||||||||||
14,223,642 | 7.47 | |||||||||||
SPECIALTY RETAIL | ||||||||||||
Other Securities (a)(b) | 3,515,170 | 1.85 | ||||||||||
TEXTILES, APPAREL & LUXURY GOODS | ||||||||||||
NIKE, Inc. (Class B) | 12,429 | 1,061,685 | 0.56 | |||||||||
Other Securities (a) | 903,780 | 0.47 | ||||||||||
1,965,465 | 1.03 | |||||||||||
THRIFTS & MORTGAGE FINANCE | ||||||||||||
Other Securities | 120,087 | 0.06 | ||||||||||
TOBACCO | ||||||||||||
Philip Morris International, Inc. | 59,000 | 3,453,270 | 1.81 | |||||||||
Other Securities | 949,160 | 0.50 | ||||||||||
4,402,430 | 2.31 | |||||||||||
TRADING COMPANIES & DISTRIBUTORS | ||||||||||||
Other Securities (a) | 554,413 | 0.29 | ||||||||||
WIRELESS TELECOMMUNICATION SERVICES | ||||||||||||
Other Securities (a)(b) | 776,752 | 0.41 | ||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $169,880,101) | 189,507,353 | 99.52 | ||||||||||
See accompanying notes to financial statements.
92
Table of Contents
SPDR S&P 500 Growth ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
SHORT TERM INVESTMENTS | ||||||||||||
MONEY MARKET FUNDS | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 2,442,385 | $ | 2,442,385 | 1.28 | % | |||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 706,237 | 706,237 | 0.37 | |||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $3,148,622) | 3,148,622 | 1.65 | ||||||||||
TOTAL INVESTMENTS (f) | ||||||||||||
(Cost $173,028,723) | 192,655,975 | 101.17 | ||||||||||
OTHER ASSETS & LIABILITIES | (2,234,253 | ) | (1.17 | ) | ||||||||
NET ASSETS | $ | 190,421,722 | 100.00 | |||||||||
Other Securities are those securities, which individually are not one of the 50 largest unaffiliated issuers and which represent less than one percent of the net assets of the Fund at December 31, 2010.
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Non-income producing security. | |||||
(c) | Investments of cash collateral for securities loaned | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
93
Table of Contents
SPDR S&P 500 Value ETF
SUMMARY SCHEDULE OF INVESTMENTS
SUMMARY SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
COMMON STOCKS | ||||||||||||
AEROSPACE & DEFENSE | ||||||||||||
United Technologies Corp. | 9,711 | $ | 764,450 | 0.45 | % | |||||||
Other Securities (a) | 3,208,032 | 1.91 | ||||||||||
3,972,482 | 2.36 | |||||||||||
AIR FREIGHT & LOGISTICS | ||||||||||||
FedEx Corp. | 9,400 | 874,294 | 0.52 | |||||||||
United Parcel Service, Inc. (Class B) | 14,269 | 1,035,644 | 0.62 | |||||||||
Other Securities | 152,880 | 0.09 | ||||||||||
2,062,818 | 1.23 | |||||||||||
AIRLINES | ||||||||||||
Other Securities | 143,053 | 0.08 | ||||||||||
AUTO COMPONENTS | ||||||||||||
Johnson Controls, Inc. | 20,200 | 771,640 | 0.46 | |||||||||
Other Securities (b) | 86,505 | 0.05 | ||||||||||
858,145 | 0.51 | |||||||||||
AUTOMOBILES | ||||||||||||
Ford Motor Co. (b) | 46,100 | 774,019 | 0.46 | |||||||||
Other Securities | 136,912 | 0.08 | ||||||||||
910,931 | 0.54 | |||||||||||
BEVERAGES | ||||||||||||
Other Securities (b) | 356,756 | 0.21 | ||||||||||
BIOTECHNOLOGY | ||||||||||||
Other Securities (a)(b) | 800,108 | 0.48 | ||||||||||
BUILDING PRODUCTS | ||||||||||||
Other Securities | 123,043 | 0.07 | ||||||||||
CAPITAL MARKETS | ||||||||||||
Morgan Stanley | 45,388 | 1,235,007 | 0.73 | |||||||||
State Street Corp. (c) | 15,100 | 699,734 | 0.42 | |||||||||
The Bank of New York Mellon Corp. | 37,220 | 1,124,044 | 0.67 | |||||||||
The Goldman Sachs Group, Inc. | 15,293 | 2,571,671 | 1.53 | |||||||||
Other Securities (a)(b) | 1,220,677 | 0.72 | ||||||||||
6,851,133 | 4.07 | |||||||||||
CHEMICALS | ||||||||||||
The Dow Chemical Co. | 34,786 | 1,187,594 | 0.71 | |||||||||
Other Securities (a) | 1,628,608 | 0.96 | ||||||||||
2,816,202 | 1.67 | |||||||||||
COMMERCIAL BANKS | ||||||||||||
PNC Financial Services Group, Inc. | 15,824 | 960,833 | 0.57 | |||||||||
U.S. Bancorp | 57,601 | 1,553,499 | 0.92 | |||||||||
Wells Fargo & Co. | 80,374 | 2,490,790 | 1.48 | |||||||||
Other Securities (a)(b) | 2,793,136 | 1.67 | ||||||||||
7,798,258 | 4.64 | |||||||||||
COMMERCIAL SERVICES & SUPPLIES | ||||||||||||
Other Securities (a) | 928,625 | 0.55 | ||||||||||
COMMUNICATIONS EQUIPMENT | ||||||||||||
Cisco Systems, Inc. (b) | 71,500 | 1,446,445 | 0.86 | |||||||||
Other Securities (b) | 791,703 | 0.47 | ||||||||||
2,238,148 | 1.33 | |||||||||||
COMPUTERS & PERIPHERALS | ||||||||||||
Hewlett-Packard Co. | 31,300 | 1,317,730 | 0.78 | |||||||||
Other Securities (b) | 766,488 | 0.46 | ||||||||||
2,084,218 | 1.24 | |||||||||||
CONSTRUCTION & ENGINEERING | ||||||||||||
Other Securities (b) | 456,108 | 0.27 | ||||||||||
CONSTRUCTION MATERIALS | ||||||||||||
Other Securities | 169,721 | 0.10 | ||||||||||
CONSUMER FINANCE | ||||||||||||
Other Securities (b) | 1,676,370 | 1.00 | ||||||||||
CONTAINERS & PACKAGING | ||||||||||||
Other Securities (b) | 352,831 | 0.21 | ||||||||||
DISTRIBUTORS | ||||||||||||
Other Securities | 241,041 | 0.14 | ||||||||||
DIVERSIFIED CONSUMER SERVICES | ||||||||||||
Other Securities (a) | 100,628 | 0.06 | ||||||||||
DIVERSIFIED FINANCIAL SERVICES | ||||||||||||
Bank of America Corp. | 302,652 | 4,037,378 | 2.40 | |||||||||
Citigroup, Inc. (b) | 871,779 | 4,123,515 | 2.45 | |||||||||
JPMorgan Chase & Co. | 117,274 | 4,974,763 | 2.96 | |||||||||
Other Securities (b) | 1,122,079 | 0.67 | ||||||||||
14,257,735 | 8.48 | |||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES | ||||||||||||
AT&T, Inc. | 102,851 | 3,021,762 | 1.80 | |||||||||
Verizon Communications, Inc. | 50,846 | 1,819,270 | 1.08 | |||||||||
Other Securities (a) | 443,081 | 0.26 | ||||||||||
5,284,113 | 3.14 | |||||||||||
ELECTRICAL EQUIPMENT | ||||||||||||
Other Securities | 583,134 | 0.35 | ||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS | ||||||||||||
Other Securities (a) | 530,538 | 0.32 | ||||||||||
ENERGY EQUIPMENT & SERVICES | ||||||||||||
Other Securities (b) | 1,348,783 | 0.80 | ||||||||||
FOOD & STAPLES RETAILING | ||||||||||||
Costco Wholesale Corp. | 13,000 | 938,730 | 0.56 | |||||||||
CVS Caremark Corp. | 40,800 | 1,418,616 | 0.84 | |||||||||
Wal-Mart Stores, Inc. | 58,800 | 3,171,084 | 1.89 | |||||||||
Walgreen Co. | 27,800 | 1,083,088 | 0.64 | |||||||||
Other Securities (a) | 1,247,080 | 0.74 | ||||||||||
7,858,598 | 4.67 | |||||||||||
FOOD PRODUCTS | ||||||||||||
Kraft Foods, Inc. (Class A) | 27,253 | 858,742 | 0.51 | |||||||||
Other Securities (a)(b) | 2,340,519 | 1.39 | ||||||||||
3,199,261 | 1.90 | |||||||||||
GAS UTILITIES | ||||||||||||
Other Securities (a) | 69,888 | 0.04 | ||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES | ||||||||||||
Other Securities (a)(b) | 1,657,726 | 0.99 | ||||||||||
See accompanying notes to financial statements.
94
Table of Contents
SPDR S&P 500 Value ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
HEALTH CARE PROVIDERS & SERVICES | ||||||||||||
UnitedHealth Group, Inc. | 33,000 | $ | 1,191,630 | 0.71 | % | |||||||
Other Securities (b) | 2,623,865 | 1.56 | ||||||||||
3,815,495 | 2.27 | |||||||||||
HOTELS, RESTAURANTS & LEISURE | ||||||||||||
Other Securities (a) | 380,804 | 0.23 | ||||||||||
HOUSEHOLD DURABLES | ||||||||||||
Other Securities (a)(b) | 1,131,203 | 0.67 | ||||||||||
HOUSEHOLD PRODUCTS | ||||||||||||
Procter & Gamble Co. | 43,679 | 2,809,870 | 1.67 | |||||||||
Other Securities | 399,484 | 0.24 | ||||||||||
3,209,354 | 1.91 | |||||||||||
INDUSTRIAL CONGLOMERATES | ||||||||||||
3M Co. | 9,620 | 830,206 | 0.49 | |||||||||
General Electric Co. | 319,705 | 5,847,404 | 3.48 | |||||||||
Other Securities (a) | 514,801 | 0.31 | ||||||||||
7,192,411 | 4.28 | |||||||||||
INSURANCE | ||||||||||||
Berkshire Hathaway, Inc. (Class B) (b) | 51,900 | 4,157,709 | 2.47 | |||||||||
MetLife, Inc. | 27,207 | 1,209,079 | 0.72 | |||||||||
Prudential Financial, Inc. | 14,564 | 855,052 | 0.51 | |||||||||
The Travelers Cos., Inc. | 13,763 | 766,737 | 0.46 | |||||||||
Other Securities (b) | 5,894,219 | 3.50 | ||||||||||
12,882,796 | 7.66 | |||||||||||
INTERNET SOFTWARE & SERVICES | ||||||||||||
Other Securities (b) | 464,279 | 0.28 | ||||||||||
IT SERVICES | ||||||||||||
Other Securities (b) | 1,052,915 | 0.63 | ||||||||||
LEISURE EQUIPMENT & PRODUCTS | ||||||||||||
Other Securities | 101,135 | 0.06 | ||||||||||
LIFE SCIENCES TOOLS & SERVICES | ||||||||||||
Other Securities (b) | 307,040 | 0.18 | ||||||||||
MACHINERY | ||||||||||||
Caterpillar, Inc. | 8,800 | 824,208 | 0.49 | |||||||||
Other Securities (a) | 1,671,737 | 0.99 | ||||||||||
2,495,945 | 1.48 | |||||||||||
MEDIA | ||||||||||||
The Walt Disney Co. | 26,128 | 980,061 | 0.58 | |||||||||
Time Warner, Inc. | 33,291 | 1,070,972 | 0.64 | |||||||||
Other Securities (a) | 1,567,938 | 0.93 | ||||||||||
3,618,971 | 2.15 | |||||||||||
METALS & MINING | ||||||||||||
Other Securities (a)(b) | 1,262,382 | 0.75 | ||||||||||
MULTI-UTILITIES | ||||||||||||
Exelon Corp. | 19,874 | 827,553 | 0.49 | |||||||||
Other Securities (a)(b) | 10,375,598 | 6.17 | ||||||||||
11,203,151 | 6.66 | |||||||||||
MULTILINE RETAIL | ||||||||||||
Other Securities (a)(b) | 1,224,051 | 0.73 | ||||||||||
OFFICE ELECTRONICS | ||||||||||||
Other Securities | 479,612 | 0.28 | ||||||||||
OIL, GAS & CONSUMABLE FUELS | ||||||||||||
Anadarko Petroleum Corp. | 9,500 | 723,520 | 0.43 | |||||||||
Chevron Corp. | 60,404 | 5,511,865 | 3.28 | |||||||||
ConocoPhillips | 44,083 | 3,002,052 | 1.78 | |||||||||
Exxon Mobil Corp. | 151,316 | 11,064,226 | 6.58 | |||||||||
Marathon Oil Corp. | 21,325 | 789,665 | 0.47 | |||||||||
Occidental Petroleum Corp. | 12,200 | 1,196,820 | 0.71 | |||||||||
Other Securities (a)(b) | 4,285,267 | 2.55 | ||||||||||
26,573,415 | 15.80 | |||||||||||
PAPER & FOREST PRODUCTS | ||||||||||||
Other Securities | 783,121 | 0.47 | ||||||||||
PHARMACEUTICALS | ||||||||||||
Johnson & Johnson | 32,928 | 2,036,597 | 1.21 | |||||||||
Merck & Co., Inc. | 32,377 | 1,166,867 | 0.70 | |||||||||
Pfizer, Inc. | 240,330 | 4,208,178 | 2.50 | |||||||||
Other Securities (b) | 721,416 | 0.43 | ||||||||||
8,133,058 | 4.84 | |||||||||||
PROFESSIONAL SERVICES | ||||||||||||
Other Securities (a) | 129,900 | 0.08 | ||||||||||
REAL ESTATE INVESTMENT TRUSTS | ||||||||||||
Other Securities | 1,616,414 | 0.96 | ||||||||||
ROAD & RAIL | ||||||||||||
Other Securities | 1,306,717 | 0.78 | ||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||
Intel Corp. | 70,289 | 1,478,177 | 0.88 | |||||||||
Other Securities (a)(b) | 826,462 | 0.49 | ||||||||||
2,304,639 | 1.37 | |||||||||||
SOFTWARE | ||||||||||||
Other Securities (a)(b) | 502,163 | 0.30 | ||||||||||
SPECIALTY RETAIL | ||||||||||||
Lowe’s Cos., Inc. | 41,400 | 1,038,312 | 0.62 | |||||||||
The Home Depot, Inc. | 49,217 | 1,725,548 | 1.02 | |||||||||
Other Securities (a)(b) | 910,837 | 0.54 | ||||||||||
3,674,697 | 2.18 | |||||||||||
TEXTILES, APPAREL & LUXURY GOODS | ||||||||||||
Other Securities | 97,125 | 0.06 | ||||||||||
THRIFTS & MORTGAGE FINANCE | ||||||||||||
Other Securities | 246,147 | 0.15 | ||||||||||
TOBACCO | ||||||||||||
Altria Group, Inc. (a) | 40,723 | 1,002,600 | 0.60 | |||||||||
Other Securities | 367,324 | 0.21 | ||||||||||
1,369,924 | 0.81 | |||||||||||
WIRELESS TELECOMMUNICATION SERVICES | ||||||||||||
Other Securities (b) | 379,063 | 0.23 | ||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $166,510,982) | 167,668,322 | 99.70 | ||||||||||
See accompanying notes to financial statements.
95
Table of Contents
SPDR S&P 500 Value ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
SHORT TERM INVESTMENTS | ||||||||||||
MONEY MARKET FUNDS | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 3,776,338 | $ | 3,776,338 | 2.25 | % | |||||||
State Street Institutional Liquid Reserves Fund 0.18% (e)(f) | 310,954 | 310,954 | 0.18 | |||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $4,087,292) | 4,087,292 | 2.43 | ||||||||||
TOTAL INVESTMENTS (g) | ||||||||||||
(Cost $170,598,274) | 171,755,614 | 102.13 | ||||||||||
OTHER ASSETS & LIABILITIES | (3,584,270 | ) | (2.13 | ) | ||||||||
NET ASSETS | $ | 168,171,344 | 100.00 | |||||||||
Other Securities are those securities, which individually are not one of the 50 largest unaffiliated issuers and which represent less than one percent of the net assets of the Fund at December 31, 2010.
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Non-income producing security. | |||||
(c) | Affiliated issuer. (Note 3) | |||||
(d) | Investments of cash collateral for securities loaned. | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
96
Table of Contents
SPDR Dow Jones Mid Cap ETF
SUMMARY SCHEDULE OF INVESTMENTS
SUMMARY SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
COMMON STOCKS | ||||||||||||
AEROSPACE & DEFENSE | ||||||||||||
Other Securities (a)(b) | $ | 408,023 | 0.69 | % | ||||||||
AIR FREIGHT & LOGISTICS | ||||||||||||
Other Securities | 81,048 | 0.14 | ||||||||||
AIRLINES | ||||||||||||
United Continental Holdings, Inc. (b) | 12,069 | 287,483 | 0.49 | |||||||||
Other Securities (a)(b) | 157,930 | 0.26 | ||||||||||
445,413 | 0.75 | |||||||||||
AUTO COMPONENTS | ||||||||||||
BorgWarner, Inc. (a)(b) | 4,348 | 314,621 | 0.53 | |||||||||
TRW Automotive Holdings Corp. (a)(b) | 3,845 | 202,632 | 0.34 | |||||||||
Other Securities (a)(b) | 446,637 | 0.76 | ||||||||||
963,890 | 1.63 | |||||||||||
BEVERAGES | ||||||||||||
Other Securities (b) | 297,878 | 0.50 | ||||||||||
BIOTECHNOLOGY | ||||||||||||
Alexion Pharmaceuticals, Inc. (a)(b) | 3,417 | 275,239 | 0.47 | |||||||||
Dendreon Corp. (a)(b) | 5,491 | 191,746 | 0.32 | |||||||||
Other Securities (a)(b) | 692,299 | 1.17 | ||||||||||
1,159,284 | 1.96 | |||||||||||
BUILDING PRODUCTS | ||||||||||||
Other Securities (a) | 294,377 | 0.50 | ||||||||||
CAPITAL MARKETS | ||||||||||||
Affiliated Managers Group, Inc. (a)(b) | 1,953 | 193,777 | 0.33 | |||||||||
Legg Mason, Inc. (a) | 5,494 | 199,267 | 0.34 | |||||||||
Other Securities (a)(b) | 1,093,862 | 1.84 | ||||||||||
1,486,906 | 2.51 | |||||||||||
CHEMICALS | ||||||||||||
Albemarle Corp. (a) | 3,492 | 194,784 | 0.33 | |||||||||
Celanese Corp. (Series A) | 5,981 | 246,238 | 0.42 | |||||||||
Eastman Chemical Co. (a) | 2,608 | 219,281 | 0.37 | |||||||||
Other Securities (a)(b) | 1,119,874 | 1.89 | ||||||||||
1,780,177 | 3.01 | |||||||||||
COMMERCIAL BANKS | ||||||||||||
Huntington Bancshares, Inc. | 32,629 | 224,161 | 0.38 | |||||||||
Other Securities (a)(b) | 1,659,612 | 2.81 | ||||||||||
1,883,773 | 3.19 | |||||||||||
COMMERCIAL SERVICES & SUPPLIES | ||||||||||||
Pitney Bowes, Inc. (a) | 7,929 | 191,723 | 0.32 | |||||||||
Other Securities (a)(b) | 1,036,024 | 1.76 | ||||||||||
1,227,747 | 2.08 | |||||||||||
COMMUNICATIONS EQUIPMENT | ||||||||||||
Riverbed Technology, Inc. (a)(b) | 5,544 | 194,982 | 0.33 | |||||||||
Other Securities (a)(b) | 571,894 | 0.97 | ||||||||||
766,876 | 1.30 | |||||||||||
COMPUTERS & PERIPHERALS | ||||||||||||
Teradata Corp. (b) | 6,357 | 261,654 | 0.44 | |||||||||
Other Securities (a)(b) | 348,799 | 0.59 | ||||||||||
610,453 | 1.03 | |||||||||||
CONSTRUCTION & ENGINEERING | ||||||||||||
Other Securities (a)(b) | 919,325 | 1.55 | ||||||||||
CONSTRUCTION MATERIALS | ||||||||||||
Other Securities (a) | 160,036 | 0.27 | ||||||||||
CONSUMER FINANCE | ||||||||||||
Other Securities (a)(b) | 17,987 | 0.03 | ||||||||||
CONTAINERS & PACKAGING | ||||||||||||
Owens-Illinois, Inc. (b) | 6,300 | 193,410 | 0.33 | |||||||||
Other Securities (a)(b) | 1,030,759 | 1.74 | ||||||||||
1,224,169 | 2.07 | |||||||||||
DISTRIBUTORS | ||||||||||||
Other Securities (b) | 121,643 | 0.21 | ||||||||||
DIVERSIFIED CONSUMER SERVICES | ||||||||||||
Other Securities (a)(b) | 475,434 | 0.80 | ||||||||||
DIVERSIFIED FINANCIAL SERVICES | ||||||||||||
Other Securities (a)(b) | 328,187 | 0.55 | ||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES | ||||||||||||
Other Securities (a)(b) | 158,725 | 0.27 | ||||||||||
ELECTRIC UTILITIES | ||||||||||||
Other Securities (a) | 716,165 | 1.21 | ||||||||||
ELECTRICAL EQUIPMENT | ||||||||||||
AMETEK, Inc. | 6,071 | 238,267 | 0.40 | |||||||||
Other Securities (a)(b) | 664,708 | 1.13 | ||||||||||
902,975 | 1.53 | |||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS | ||||||||||||
Avnet, Inc. (a)(b) | 5,780 | 190,913 | 0.32 | |||||||||
Mettler-Toledo International, Inc. (b) | 1,281 | 193,700 | 0.33 | |||||||||
Other Securities (a)(b) | 1,160,565 | 1.96 | ||||||||||
1,545,178 | 2.61 | |||||||||||
ENERGY EQUIPMENT & SERVICES | ||||||||||||
Pride International, Inc. (a)(b) | 6,068 | 200,244 | 0.34 | |||||||||
Other Securities (a)(b) | 1,337,105 | 2.26 | ||||||||||
1,537,349 | 2.60 | |||||||||||
FOOD & STAPLES RETAILING | ||||||||||||
Other Securities (a)(b) | 173,384 | 0.29 | ||||||||||
FOOD PRODUCTS | ||||||||||||
Other Securities (a)(b) | 896,632 | 1.52 | ||||||||||
GAS UTILITIES | ||||||||||||
Other Securities (a) | 879,856 | 1.49 | ||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES | ||||||||||||
Beckman Coulter, Inc. (a) | 2,606 | 196,049 | 0.33 | |||||||||
ResMed, Inc. (a)(b) | 5,779 | 200,185 | 0.34 | |||||||||
Other Securities (a)(b) | 1,027,334 | 1.74 | ||||||||||
1,423,568 | 2.41 | |||||||||||
HEALTH CARE PROVIDERS & SERVICES | ||||||||||||
Other Securities (a)(b) | 1,412,443 | 2.39 | ||||||||||
See accompanying notes to financial statements.
97
Table of Contents
SPDR Dow Jones Mid Cap ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
HEALTH CARE TECHNOLOGY | ||||||||||||
Other Securities (b) | $ | 135,661 | 0.23 | % | ||||||||
HOTELS, RESTAURANTS & LEISURE | ||||||||||||
Chipotle Mexican Grill, Inc. (b) | 1,187 | 252,427 | 0.43 | |||||||||
Wyndham Worldwide Corp. | 6,818 | 204,267 | 0.34 | |||||||||
Other Securities (a)(b) | 755,016 | 1.28 | ||||||||||
1,211,710 | 2.05 | |||||||||||
HOUSEHOLD DURABLES | ||||||||||||
Newell Rubbermaid, Inc. | 11,052 | 200,925 | 0.34 | |||||||||
Other Securities (a)(b) | 1,263,997 | 2.14 | ||||||||||
1,464,922 | 2.48 | |||||||||||
HOUSEHOLD PRODUCTS | ||||||||||||
Energizer Holdings, Inc. (b) | 2,651 | 193,258 | 0.33 | |||||||||
INDUSTRIAL CONGLOMERATES | ||||||||||||
Textron, Inc. (a) | 10,310 | 243,728 | 0.41 | |||||||||
Other Securities (a)(b) | 304,653 | 0.52 | ||||||||||
548,381 | 0.93 | |||||||||||
INSURANCE | ||||||||||||
American International Group, Inc. (a)(b) | 4,512 | 259,981 | 0.44 | |||||||||
Other Securities (a)(b) | 3,231,574 | 5.46 | ||||||||||
3,491,555 | 5.90 | |||||||||||
INTERNET SOFTWARE & SERVICES | ||||||||||||
Other Securities (a)(b) | 561,707 | 0.95 | ||||||||||
IT SERVICES | ||||||||||||
Other Securities (a)(b) | 970,461 | 1.64 | ||||||||||
LIFE SCIENCES TOOLS & SERVICES | ||||||||||||
Other Securities (a)(b) | 652,840 | 1.10 | ||||||||||
MACHINERY | ||||||||||||
Pall Corp. | 4,364 | 216,367 | 0.37 | |||||||||
Other Securities (a)(b) | 2,396,280 | 4.05 | ||||||||||
2,612,647 | 4.42 | |||||||||||
MARINE | ||||||||||||
Other Securities (a)(b) | 88,937 | 0.15 | ||||||||||
MEDIA | ||||||||||||
Sirius XM Radio, Inc. (a)(b) | 147,302 | 241,575 | 0.41 | |||||||||
The Interpublic Group of Cos., Inc. (a)(b) | 18,559 | 197,097 | 0.33 | |||||||||
Other Securities (a)(b) | 939,718 | 1.59 | ||||||||||
1,378,390 | 2.33 | |||||||||||
METALS & MINING | ||||||||||||
Allegheny Technologies, Inc. (a) | 3,549 | 195,834 | 0.33 | |||||||||
Walter Energy, Inc. (a) | 2,022 | 258,492 | 0.44 | |||||||||
Other Securities (a)(b) | 703,294 | 1.19 | ||||||||||
1,157,620 | 1.96 | |||||||||||
MULTI-UTILITIES | ||||||||||||
Other Securities (a) | 2,398,262 | 4.06 | ||||||||||
MULTILINE RETAIL | ||||||||||||
Other Securities (a)(b) | 86,720 | 0.15 | ||||||||||
OFFICE ELECTRONICS | ||||||||||||
Other Securities (a)(b) | 82,400 | 0.14 | ||||||||||
OIL, GAS & CONSUMABLE FUELS | ||||||||||||
Arch Coal, Inc. (a) | 6,207 | 217,617 | 0.37 | |||||||||
Concho Resources, Inc. (a)(b) | 3,593 | 314,998 | 0.53 | |||||||||
Massey Energy Co. | 3,870 | 207,626 | 0.35 | |||||||||
Whiting Petroleum Corp. (b) | 2,233 | 261,685 | 0.44 | |||||||||
Other Securities (a)(b) | 1,545,027 | 2.62 | ||||||||||
2,546,953 | 4.31 | |||||||||||
PAPER & FOREST PRODUCTS | ||||||||||||
Other Securities (a) | 290,396 | 0.49 | ||||||||||
PERSONAL PRODUCTS | ||||||||||||
Other Securities (a) | 276,569 | 0.47 | ||||||||||
PHARMACEUTICALS | ||||||||||||
Perrigo Co. (a) | 3,248 | 205,696 | 0.35 | |||||||||
Other Securities (a)(b) | 365,505 | 0.62 | ||||||||||
571,201 | 0.97 | |||||||||||
PROFESSIONAL SERVICES | ||||||||||||
Manpower, Inc. (a) | 3,129 | 196,376 | 0.33 | |||||||||
Other Securities (a)(b) | 813,532 | 1.38 | ||||||||||
1,009,908 | 1.71 | |||||||||||
REAL ESTATE INVESTMENT TRUSTS | ||||||||||||
AMB Property Corp. (a) | 6,424 | 203,705 | 0.34 | |||||||||
SL Green Realty Corp. (a) | 2,976 | 200,910 | 0.34 | |||||||||
The Macerich Co. (a) | 4,950 | 234,482 | 0.40 | |||||||||
Other Securities (a) | 3,506,407 | 5.93 | ||||||||||
4,145,504 | 7.01 | |||||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT | ||||||||||||
CB Richard Ellis Group, Inc. (Class A) (a)(b) | 11,220 | 229,786 | 0.39 | |||||||||
Other Securities (a)(b) | 208,056 | 0.35 | ||||||||||
437,842 | 0.74 | |||||||||||
ROAD & RAIL | ||||||||||||
Other Securities (a)(b) | 699,535 | 1.18 | ||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||
Atmel Corp. (b) | 17,619 | 217,066 | 0.37 | |||||||||
Lam Research Corp. (b) | 4,624 | 239,431 | 0.40 | |||||||||
Skyworks Solutions, Inc. (a)(b) | 6,752 | 193,310 | 0.33 | |||||||||
Other Securities (a)(b) | 1,150,582 | 1.94 | ||||||||||
1,800,389 | 3.04 | |||||||||||
SOFTWARE | ||||||||||||
Rovi Corp. (a)(b) | 3,937 | 244,133 | 0.41 | |||||||||
Other Securities (a)(b) | 1,848,069 | 3.13 | ||||||||||
2,092,202 | 3.54 | |||||||||||
SPECIALTY RETAIL | ||||||||||||
Abercrombie & Fitch Co. (Class A) (a) | 3,316 | 191,101 | 0.32 | |||||||||
CarMax, Inc. (a)(b) | 8,498 | 270,916 | 0.46 | |||||||||
Tiffany & Co. (a) | 4,821 | 300,204 | 0.51 | |||||||||
Other Securities (a)(b) | 1,817,697 | 3.07 | ||||||||||
2,579,918 | 4.36 | |||||||||||
See accompanying notes to financial statements.
98
Table of Contents
SPDR Dow Jones Mid Cap ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
TEXTILES, APPAREL & LUXURY GOODS | ||||||||||||
Other Securities (a)(b) | $ | 361,511 | 0.61 | % | ||||||||
THRIFTS & MORTGAGE FINANCE | ||||||||||||
Other Securities (a) | 288,666 | 0.49 | ||||||||||
TRADING COMPANIES & DISTRIBUTORS | ||||||||||||
Other Securities (a) | 106,997 | 0.18 | ||||||||||
WIRELESS TELECOMMUNICATION SERVICES | ||||||||||||
Other Securities (a)(b) | 458,630 | 0.78 | ||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $50,655,569) | 59,000,593 | 99.79 | ||||||||||
SHORT TERM INVESTMENTS | ||||||||||||
MONEY MARKET FUNDS | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 16,390,393 | 16,390,393 | 27.72 | |||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 134,458 | 134,458 | 0.23 | |||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $16,524,851) | 16,524,851 | 27.95 | ||||||||||
TOTAL INVESTMENTS (f) | ||||||||||||
(Cost $67,180,420) | 75,525,444 | 127.74 | ||||||||||
OTHER ASSETS & LIABILITIES | (16,400,238 | ) | (27.74 | ) | ||||||||
NET ASSETS | $ | 59,125,206 | 100.00 | |||||||||
Other Securities are those securities, which individually are not one of the 50 largest unaffiliated issuers and which represent less than one percent of the net assets of the Fund at December 31, 2010.
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Non-income producing security. | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
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SUMMARY SCHEDULE OF INVESTMENTS
SUMMARY SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
COMMON STOCKS | ||||||||||||
AEROSPACE & DEFENSE | ||||||||||||
BE Aerospace, Inc. (a) | 13,094 | $ | 484,871 | 0.68 | % | |||||||
AIRLINES | ||||||||||||
Other Securities (a) | 158,732 | 0.22 | ||||||||||
AUTO COMPONENTS | ||||||||||||
BorgWarner, Inc. (a) | 8,650 | 625,914 | 0.88 | |||||||||
Gentex Corp. (b) | 18,000 | 532,080 | 0.75 | |||||||||
1,157,994 | 1.63 | |||||||||||
BEVERAGES | ||||||||||||
Hansen Natural Corp. (a) | 8,852 | 462,783 | 0.65 | |||||||||
BIOTECHNOLOGY | ||||||||||||
Vertex Pharmaceuticals, Inc. (a)(b) | 12,387 | 433,916 | 0.61 | |||||||||
Other Securities (a) | 410,867 | 0.58 | ||||||||||
844,783 | 1.19 | |||||||||||
BUILDING PRODUCTS | ||||||||||||
Other Securities | 108,767 | 0.15 | ||||||||||
CAPITAL MARKETS | ||||||||||||
Other Securities (a)(b) | 1,545,572 | 2.18 | ||||||||||
CHEMICALS | ||||||||||||
Albemarle Corp. (b) | 11,844 | 660,658 | 0.93 | |||||||||
Lubrizol Corp. | 8,476 | 905,915 | 1.28 | |||||||||
Other Securities (a)(b) | 523,678 | 0.73 | ||||||||||
2,090,251 | 2.94 | |||||||||||
COMMERCIAL BANKS | ||||||||||||
Other Securities (a) | 293,409 | 0.41 | ||||||||||
COMMERCIAL SERVICES & SUPPLIES | ||||||||||||
Other Securities (a)(b) | 1,169,619 | 1.65 | ||||||||||
COMMUNICATIONS EQUIPMENT | ||||||||||||
Polycom, Inc. (a)(b) | 11,076 | 431,743 | 0.61 | |||||||||
Riverbed Technology, Inc. (a) | 18,867 | 663,552 | 0.94 | |||||||||
Other Securities (a)(b) | 942,258 | 1.32 | ||||||||||
2,037,553 | 2.87 | |||||||||||
CONSTRUCTION MATERIALS | ||||||||||||
Other Securities (b) | 186,970 | 0.26 | ||||||||||
CONTAINERS & PACKAGING | ||||||||||||
Other Securities | 642,474 | 0.91 | ||||||||||
DISTRIBUTORS | ||||||||||||
Other Securities (a)(b) | 420,093 | 0.59 | ||||||||||
DIVERSIFIED CONSUMER SERVICES | ||||||||||||
Other Securities (a)(b) | 1,001,209 | 1.41 | ||||||||||
DIVERSIFIED FINANCIAL SERVICES | ||||||||||||
MSCI, Inc. (Class A) (a) | 15,369 | 598,776 | 0.84 | |||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES | ||||||||||||
Other Securities (a)(b) | 330,190 | 0.47 | ||||||||||
ELECTRIC UTILITIES | ||||||||||||
Other Securities | 187,683 | 0.26 | ||||||||||
ELECTRICAL EQUIPMENT | ||||||||||||
AMETEK, Inc. | 12,954 | 508,444 | 0.72 | |||||||||
Other Securities (a) | 1,368,623 | 1.92 | ||||||||||
1,877,067 | 2.64 | |||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS | ||||||||||||
Mettler-Toledo International, Inc. (a) | 4,214 | 637,199 | 0.90 | |||||||||
Other Securities (a)(b) | 919,044 | 1.29 | ||||||||||
1,556,243 | 2.19 | |||||||||||
ENERGY EQUIPMENT & SERVICES | ||||||||||||
Oceaneering International, Inc. (a) | 6,953 | 511,949 | 0.72 | |||||||||
Other Securities (a)(b) | 970,043 | 1.37 | ||||||||||
1,481,992 | 2.09 | |||||||||||
FOOD PRODUCTS | ||||||||||||
Green Mountain Coffee Roasters, Inc. (a)(b) | 15,023 | 493,656 | 0.70 | |||||||||
Other Securities (b) | 500,988 | 0.70 | ||||||||||
994,644 | 1.40 | |||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES | ||||||||||||
Edwards Lifesciences Corp. (a) | 14,732 | 1,190,935 | 1.68 | |||||||||
IDEXX Laboratories, Inc. (a)(b) | 7,447 | 515,481 | 0.73 | |||||||||
ResMed, Inc. (a)(b) | 19,551 | 677,247 | 0.95 | |||||||||
Other Securities (a)(b) | 1,918,171 | 2.70 | ||||||||||
4,301,834 | 6.06 | |||||||||||
HEALTH CARE PROVIDERS & SERVICES | ||||||||||||
Universal Health Services, Inc. (Class B) | 12,465 | 541,230 | 0.76 | |||||||||
Other Securities (a)(b) | 1,664,198 | 2.35 | ||||||||||
2,205,428 | 3.11 | |||||||||||
HEALTH CARE TECHNOLOGY | ||||||||||||
Allscripts-Misys Healthcare Solutions, Inc. (a) | 23,955 | 461,613 | 0.65 | |||||||||
HOTELS, RESTAURANTS & LEISURE | ||||||||||||
Chipotle Mexican Grill, Inc. (a)(b) | 3,997 | 850,002 | 1.20 | |||||||||
Other Securities (a)(b) | 1,597,275 | 2.25 | ||||||||||
2,447,277 | 3.45 | |||||||||||
HOUSEHOLD DURABLES | ||||||||||||
Other Securities | 386,127 | 0.54 | ||||||||||
HOUSEHOLD PRODUCTS | ||||||||||||
Other Securities (a)(b) | 600,271 | 0.85 | ||||||||||
INSURANCE | ||||||||||||
Other Securities | 333,539 | 0.47 | ||||||||||
INTERNET SOFTWARE & SERVICES | ||||||||||||
Equinix, Inc. (a)(b) | 5,922 | 481,221 | 0.68 | |||||||||
Other Securities (a)(b) | 673,715 | 0.95 | ||||||||||
1,154,936 | 1.63 | |||||||||||
IT SERVICES | ||||||||||||
Alliance Data Systems Corp. (a)(b) | 6,739 | 478,671 | 0.67 | |||||||||
Global Payments, Inc. | 10,257 | 473,976 | 0.67 |
See accompanying notes to financial statements.
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SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
Other Securities (a)(b) | $ | 1,322,457 | 1.87 | % | ||||||||
2,275,104 | 3.21 | |||||||||||
LEISURE EQUIPMENT & PRODUCTS | ||||||||||||
Other Securities | 343,600 | 0.48 | ||||||||||
LIFE SCIENCES TOOLS & SERVICES | ||||||||||||
Other Securities (a)(b) | 863,156 | 1.22 | ||||||||||
MACHINERY | ||||||||||||
Bucyrus International, Inc. (b) | 10,400 | 929,760 | 1.31 | |||||||||
Gardner Denver, Inc. | 6,761 | 465,292 | 0.66 | |||||||||
Joy Global, Inc. | 13,327 | 1,156,117 | 1.63 | |||||||||
Other Securities (a)(b) | 2,693,087 | 3.79 | ||||||||||
5,244,256 | 7.39 | |||||||||||
MARINE | ||||||||||||
Other Securities (a)(b) | 173,381 | 0.24 | ||||||||||
MEDIA | ||||||||||||
Other Securities (a)(b) | 727,798 | 1.03 | ||||||||||
METALS & MINING | ||||||||||||
Other Securities | 459,349 | 0.65 | ||||||||||
MULTI-UTILITIES | ||||||||||||
Other Securities | 638,230 | 0.90 | ||||||||||
MULTILINE RETAIL | ||||||||||||
Dollar Tree, Inc. (a)(b) | 16,100 | 902,888 | 1.27 | |||||||||
Other Securities (a) | 47,820 | 0.07 | ||||||||||
950,708 | 1.34 | |||||||||||
OFFICE ELECTRONICS | ||||||||||||
Other Securities (a) | 275,883 | 0.39 | ||||||||||
OIL, GAS & CONSUMABLE FUELS | ||||||||||||
Cimarex Energy Co. | 6,300 | 557,739 | 0.79 | |||||||||
Other Securities (a)(b) | 1,423,552 | 2.00 | ||||||||||
1,981,291 | 2.79 | |||||||||||
PERSONAL PRODUCTS | ||||||||||||
Other Securities | 228,500 | 0.32 | ||||||||||
PHARMACEUTICALS | ||||||||||||
Endo Pharmaceuticals Holdings, Inc. (a) | 14,970 | 534,579 | 0.75 | |||||||||
Perrigo Co. (b) | 10,673 | 675,921 | 0.95 | |||||||||
Other Securities | 208,962 | 0.30 | ||||||||||
1,419,462 | 2.00 | |||||||||||
PROFESSIONAL SERVICES | ||||||||||||
Other Securities (a)(b) | 333,463 | 0.47 | ||||||||||
REAL ESTATE INVESTMENT TRUSTS | ||||||||||||
SL Green Realty Corp. | 10,052 | 678,611 | 0.96 | |||||||||
The Macerich Co. | 16,700 | 791,079 | 1.11 | |||||||||
Other Securities (b) | 4,152,016 | 5.85 | ||||||||||
5,621,706 | 7.92 | |||||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT | ||||||||||||
Jones Lang LaSalle, Inc. | 5,459 | 458,119 | 0.65 | |||||||||
ROAD & RAIL | ||||||||||||
Other Securities (a) | 622,752 | 0.88 | ||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||
Atmel Corp. (a) | 59,245 | 729,899 | 1.03 | |||||||||
Cree, Inc. (a)(b) | 14,006 | 922,855 | 1.30 | |||||||||
Skyworks Solutions, Inc. (a) | 23,545 | 674,093 | 0.95 | |||||||||
Other Securities (a)(b) | 1,379,811 | 1.94 | ||||||||||
3,706,658 | 5.22 | |||||||||||
SOFTWARE | ||||||||||||
Ansys, Inc. (a) | 11,680 | 608,178 | 0.86 | |||||||||
Factset Research Systems, Inc. (b) | 6,002 | 562,747 | 0.79 | |||||||||
Informatica Corp. (a)(b) | 12,054 | 530,738 | 0.75 | |||||||||
MICROS Systems, Inc. (a) | 10,316 | 452,460 | 0.64 | |||||||||
Rovi Corp. (a)(b) | 13,502 | 837,259 | 1.18 | |||||||||
Solera Holdings, Inc. | 9,017 | 462,752 | 0.65 | |||||||||
Other Securities (a)(b) | 2,167,879 | 3.05 | ||||||||||
5,622,013 | 7.92 | |||||||||||
SPECIALTY RETAIL | ||||||||||||
Advance Auto Parts, Inc. | 10,800 | 714,420 | 1.01 | |||||||||
Dick’s Sporting Goods, Inc. (a)(b) | 11,369 | 426,337 | 0.60 | |||||||||
PetSmart, Inc. | 15,217 | 605,941 | 0.85 | |||||||||
Tractor Supply Co. | 9,342 | 452,994 | 0.64 | |||||||||
Williams-Sonoma, Inc. (b) | 13,600 | 485,384 | 0.68 | |||||||||
Other Securities (a)(b) | 1,904,991 | 2.69 | ||||||||||
4,590,067 | 6.47 | |||||||||||
TEXTILES, APPAREL & LUXURY GOODS | ||||||||||||
Fossil, Inc. (a) | 6,597 | 464,957 | 0.66 | |||||||||
Phillips-Van Heusen Corp. | 8,500 | 535,585 | 0.75 | |||||||||
Other Securities (a)(b) | 1,132,614 | 1.60 | ||||||||||
2,133,156 | 3.01 | |||||||||||
TRADING COMPANIES & DISTRIBUTORS | ||||||||||||
Other Securities (a) | 365,823 | 0.52 | ||||||||||
WIRELESS TELECOMMUNICATION SERVICES | ||||||||||||
Other Securities (a) | 277,650 | 0.39 | ||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $71,187,047) | 70,834,825 | 99.80 | ||||||||||
SHORT TERM INVESTMENTS | ||||||||||||
MONEY MARKET FUNDS | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 2,202,278 | 2,202,278 | 3.10 | |||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 115,732 | 115,732 | 0.16 | |||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $2,318,010) | 2,318,010 | 3.26 | ||||||||||
TOTAL INVESTMENTS (f) | ||||||||||||
(Cost $73,505,057) | 73,152,835 | 103.06 | ||||||||||
OTHER ASSETS & LIABILITIES | (2,175,173 | ) | (3.06 | ) | ||||||||
NET ASSETS | $ | 70,977,662 | 100.00 | |||||||||
Other Securities are those securities, which individually are not one of the 50 largest unaffiliated issuers and which represent less than one percent of the net assets of the Fund at December 31, 2010.
See accompanying notes to financial statements.
101
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SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
(a) | Non-income producing security. | |||||
(b) | Security, or portion thereof, was on loan as of December 31, 2010. | |||||
(c) | Investments of cash collateral for securities loaned | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
102
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SPDR S&P 400 Mid Cap Value ETF
SUMMARY SCHEDULE OF INVESTMENTS
SUMMARY SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
COMMON STOCKS | ||||||||||||
AEROSPACE & DEFENSE | ||||||||||||
Other Securities (a)(b) | $ | 118,493 | 0.44 | % | ||||||||
AIRLINES | ||||||||||||
Other Securities (a) | 151,174 | 0.56 | ||||||||||
AUTO COMPONENTS | ||||||||||||
BorgWarner, Inc. (a)(b) | 2,240 | 162,086 | 0.60 | |||||||||
AUTOMOBILES | ||||||||||||
Other Securities | 67,920 | 0.25 | ||||||||||
BIOTECHNOLOGY | ||||||||||||
Vertex Pharmaceuticals, Inc. (a) | 5,160 | 180,755 | 0.67 | |||||||||
BUILDING PRODUCTS | ||||||||||||
Other Securities (b) | 59,775 | 0.22 | ||||||||||
CAPITAL MARKETS | ||||||||||||
Raymond James Financial, Inc. (b) | 4,805 | 157,124 | 0.58 | |||||||||
Other Securities (a)(b) | 518,337 | 1.92 | ||||||||||
675,461 | 2.50 | |||||||||||
CHEMICALS | ||||||||||||
Ashland, Inc. | 3,825 | 194,540 | 0.72 | |||||||||
The Valspar Corp. (b) | 4,783 | 164,918 | 0.61 | |||||||||
Other Securities (b) | 667,462 | 2.47 | ||||||||||
1,026,920 | 3.80 | |||||||||||
COMMERCIAL BANKS | ||||||||||||
Commerce Bancshares, Inc. (b) | 3,740 | 148,608 | 0.55 | |||||||||
Cullen/Frost Bankers, Inc. (b) | 2,957 | 180,732 | 0.67 | |||||||||
Other Securities (a)(b) | 1,508,744 | 5.57 | ||||||||||
1,838,084 | 6.79 | |||||||||||
COMMERCIAL SERVICES & SUPPLIES | ||||||||||||
Other Securities (a) | 427,252 | 1.58 | ||||||||||
COMMUNICATIONS EQUIPMENT | ||||||||||||
Other Securities (a) | 78,191 | 0.29 | ||||||||||
COMPUTERS & PERIPHERALS | ||||||||||||
Other Securities (a)(b) | 219,564 | 0.81 | ||||||||||
CONSTRUCTION & ENGINEERING | ||||||||||||
Aecom Technology Corp. (a) | 5,700 | 159,429 | 0.59 | |||||||||
KBR, Inc. | 7,318 | 222,979 | 0.82 | |||||||||
URS Corp. (a) | 3,950 | 164,360 | 0.61 | |||||||||
Other Securities (a) | 184,231 | 0.68 | ||||||||||
730,999 | 2.70 | |||||||||||
CONSTRUCTION MATERIALS | ||||||||||||
Other Securities | 132,826 | 0.49 | ||||||||||
CONTAINERS & PACKAGING | ||||||||||||
Sonoco Products Co. | 4,997 | 168,249 | 0.62 | |||||||||
Other Securities (b) | 429,303 | 1.59 | ||||||||||
597,552 | 2.21 | |||||||||||
DIVERSIFIED CONSUMER SERVICES | ||||||||||||
Other Securities (a)(b) | 205,608 | 0.76 | ||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES | ||||||||||||
Other Securities (a) | 26,880 | 0.10 | ||||||||||
ELECTRIC UTILITIES | ||||||||||||
Other Securities (b) | 667,590 | 2.47 | ||||||||||
ELECTRICAL EQUIPMENT | ||||||||||||
Other Securities (a)(b) | 386,743 | 1.43 | ||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS | ||||||||||||
Arrow Electronics, Inc. (a)(b) | 5,618 | 192,416 | 0.71 | |||||||||
Avnet, Inc. (a) | 7,361 | 243,134 | 0.90 | |||||||||
Other Securities (a) | 457,908 | 1.69 | ||||||||||
893,458 | 3.30 | |||||||||||
ENERGY EQUIPMENT & SERVICES | ||||||||||||
Patterson-UTI Energy, Inc. (b) | 7,384 | 159,125 | 0.59 | |||||||||
Pride International, Inc. (a) | 8,506 | 280,698 | 1.04 | |||||||||
Other Securities (a)(b) | 352,592 | 1.30 | ||||||||||
792,415 | 2.93 | |||||||||||
FOOD & STAPLES RETAILING | ||||||||||||
Other Securities (a)(b) | 204,667 | 0.76 | ||||||||||
FOOD PRODUCTS | ||||||||||||
Ralcorp Holdings, Inc. (a) | 2,667 | 173,382 | 0.64 | |||||||||
Smithfield Foods, Inc. (a)(b) | 7,956 | 164,132 | 0.61 | |||||||||
Other Securities (b) | 163,112 | 0.60 | ||||||||||
500,626 | 1.85 | |||||||||||
GAS UTILITIES | ||||||||||||
Energen Corp. | 3,491 | 168,476 | 0.62 | |||||||||
UGI Corp. | 5,364 | 169,395 | 0.62 | |||||||||
Other Securities (b) | 501,710 | 1.86 | ||||||||||
839,581 | 3.10 | |||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES | ||||||||||||
Beckman Coulter, Inc. | 1,953 | 146,924 | 0.54 | |||||||||
Hologic, Inc. (a) | 8,200 | 154,324 | 0.57 | |||||||||
Other Securities (a)(b) | 287,385 | 1.07 | ||||||||||
588,633 | 2.18 | |||||||||||
HEALTH CARE PROVIDERS & SERVICES | ||||||||||||
Community Health Systems, Inc. (a) | 4,495 | 167,978 | 0.62 | |||||||||
Other Securities (a)(b) | 696,765 | 2.58 | ||||||||||
864,743 | 3.20 | |||||||||||
HOTELS, RESTAURANTS & LEISURE | ||||||||||||
Other Securities (a)(b) | 262,856 | 0.97 | ||||||||||
HOUSEHOLD DURABLES | ||||||||||||
Mohawk Industries, Inc. (a)(b) | 2,700 | 153,252 | 0.57 | |||||||||
NVR, Inc. (a)(b) | 274 | 189,340 | 0.70 | |||||||||
Other Securities (a)(b) | 306,163 | 1.13 | ||||||||||
648,755 | 2.40 | |||||||||||
HOUSEHOLD PRODUCTS | ||||||||||||
Other Securities (a) | 259,926 | 0.96 | ||||||||||
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS | ||||||||||||
Other Securities (a)(b) | 27,538 | 0.10 | ||||||||||
INDUSTRIAL CONGLOMERATES | ||||||||||||
Other Securities (b) | 116,478 | 0.43 | ||||||||||
INSURANCE | ||||||||||||
Everest Re Group, Ltd. | 2,651 | 224,858 | 0.83 | |||||||||
Fidelity National Financial, Inc. (Class A) | 10,864 | 148,619 | 0.55 |
See accompanying notes to financial statements.
103
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SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
HCC Insurance Holdings, Inc. | 5,524 | $ | 159,865 | 0.59 | % | |||||||
Old Republic International Corp. (b) | 12,163 | 165,782 | 0.61 | |||||||||
Reinsurance Group of America, Inc. | 3,523 | 189,220 | 0.70 | |||||||||
Transatlantic Holdings, Inc. | 3,072 | 158,577 | 0.59 | |||||||||
W.R. Berkley Corp. (b) | 5,685 | 155,655 | 0.57 | |||||||||
Other Securities (b) | 794,651 | 2.94 | ||||||||||
1,997,227 | 7.38 | |||||||||||
INTERNET SOFTWARE & SERVICES | ||||||||||||
Other Securities (a)(b) | 142,471 | 0.53 | ||||||||||
IT SERVICES | ||||||||||||
Other Securities (a) | 367,904 | 1.36 | ||||||||||
LEISURE EQUIPMENT & PRODUCTS | ||||||||||||
Other Securities (a)(b) | 68,608 | 0.25 | ||||||||||
LIFE SCIENCES TOOLS & SERVICES | ||||||||||||
Other Securities (a) | 311,067 | 1.15 | ||||||||||
MACHINERY | ||||||||||||
Pentair, Inc. (b) | 4,748 | 173,350 | 0.64 | |||||||||
Terex Corp. (a) | 5,200 | 161,408 | 0.60 | |||||||||
Other Securities (a)(b) | 1,178,202 | 4.35 | ||||||||||
1,512,960 | 5.59 | |||||||||||
MARINE | ||||||||||||
Other Securities (a)(b) | 128,515 | 0.48 | ||||||||||
MEDIA | ||||||||||||
Other Securities (a)(b) | 152,353 | 0.56 | ||||||||||
METALS & MINING | ||||||||||||
Reliance Steel & Aluminum Co. | 3,600 | 183,960 | 0.68 | |||||||||
Steel Dynamics, Inc. | 10,400 | 190,320 | 0.71 | |||||||||
Other Securities (b) | 190,169 | 0.70 | ||||||||||
564,449 | 2.09 | |||||||||||
MULTI-UTILITIES | ||||||||||||
Alliant Energy Corp. | 5,332 | 196,058 | 0.72 | |||||||||
MDU Resources Group, Inc. | 9,136 | 185,187 | 0.68 | |||||||||
NSTAR (b) | 4,961 | 209,305 | 0.77 | |||||||||
NV Energy, Inc. (b) | 11,264 | 158,259 | 0.59 | |||||||||
OGE Energy Corp. | 4,689 | 213,537 | 0.79 | |||||||||
Other Securities (b) | 325,821 | 1.21 | ||||||||||
1,288,167 | 4.76 | |||||||||||
MULTILINE RETAIL | ||||||||||||
Other Securities (a)(b) | 99,924 | 0.37 | ||||||||||
OIL, GAS & CONSUMABLE FUELS | ||||||||||||
Arch Coal, Inc. | 4,200 | 147,252 | 0.54 | |||||||||
Cimarex Energy Co. | 1,700 | 150,501 | 0.56 | |||||||||
Plains Exploration & Production Co. (a) | 6,700 | 215,338 | 0.80 | |||||||||
Other Securities (a)(b) | 569,233 | 2.10 | ||||||||||
1,082,324 | 4.00 | |||||||||||
PAPER & FOREST PRODUCTS | ||||||||||||
Other Securities (a) | 59,598 | 0.22 | ||||||||||
PERSONAL PRODUCTS | ||||||||||||
Other Securities (b) | 68,339 | 0.25 | ||||||||||
PROFESSIONAL SERVICES | ||||||||||||
Manpower, Inc. | 3,950 | 247,902 | 0.91 | |||||||||
Other Securities (a) | 207,483 | 0.77 | ||||||||||
455,385 | 1.68 | |||||||||||
REAL ESTATE INVESTMENT TRUSTS | ||||||||||||
AMB Property Corp. (b) | 5,335 | 169,173 | 0.62 | |||||||||
Other Securities (b) | 1,775,764 | 6.57 | ||||||||||
1,944,937 | 7.19 | |||||||||||
ROAD & RAIL | ||||||||||||
Other Securities (a)(b) | 414,116 | 1.53 | ||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||
Lam Research Corp. (a) | 2,900 | 150,162 | 0.56 | |||||||||
Other Securities (a)(b) | 231,178 | 0.85 | ||||||||||
381,340 | 1.41 | |||||||||||
SOFTWARE | ||||||||||||
Other Securities (a)(b) | 279,474 | 1.03 | ||||||||||
SPECIALTY RETAIL | ||||||||||||
Foot Locker, Inc. | 7,464 | 146,444 | 0.54 | |||||||||
Other Securities (a)(b) | 413,293 | 1.53 | ||||||||||
559,737 | 2.07 | |||||||||||
TEXTILES, APPAREL & LUXURY GOODS | ||||||||||||
Other Securities (a) | 97,467 | 0.36 | ||||||||||
THRIFTS & MORTGAGE FINANCE | ||||||||||||
New York Community Bancorp, Inc. | 21,054 | 396,868 | 1.47 | |||||||||
Other Securities (b) | 362,042 | 1.34 | ||||||||||
758,910 | 2.81 | |||||||||||
TOBACCO | ||||||||||||
Other Securities | 47,985 | 0.18 | ||||||||||
TRADING COMPANIES & DISTRIBUTORS | ||||||||||||
Other Securities (a) | 231,284 | 0.85 | ||||||||||
WIRELESS TELECOMMUNICATION SERVICES | ||||||||||||
Telephone & Data Systems, Inc. (b) | 4,395 | 160,637 | 0.59 | |||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $25,955,605) | 26,928,727 | 99.54 | ||||||||||
SHORT TERM INVESTMENTS | ||||||||||||
MONEY MARKET FUNDS | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 7,127,929 | 7,127,929 | 26.35 | |||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 98,137 | 98,137 | 0.36 | |||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $7,226,066) | 7,226,066 | 26.71 | ||||||||||
See accompanying notes to financial statements.
104
Table of Contents
SPDR S&P 400 Mid Cap Value ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Value | Assets | ||||||||||
TOTAL INVESTMENTS (f) | ||||||||||||
(Cost $33,181,671) | $ | 34,154,793 | 126.25 | % | ||||||||
OTHER ASSETS & LIABILITIES | (7,101,133 | ) | (26.25 | ) | ||||||||
NET ASSETS | $ | 27,053,660 | 100.00 | |||||||||
Other Securities are those securities, which individually are not one of the 50 largest unaffiliated issuers and which represent less than one percent of the net assets of the Fund at December 31, 2010.
(a) | Non-income producing security. | |||||
(b) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
105
Table of Contents
SPDR S&P 600 Small Cap ETF
SUMMARY SCHEDULE OF INVESTMENTS
SUMMARY SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
COMMON STOCKS | ||||||||||||
AEROSPACE & DEFENSE | ||||||||||||
Esterline Technologies Corp. (a) | 4,100 | $ | 281,219 | 0.43 | % | |||||||
Moog, Inc. (Class A) (a)(b) | 6,141 | 244,412 | 0.37 | |||||||||
Other Securities (a)(b) | 1,386,309 | 2.10 | ||||||||||
1,911,940 | 2.90 | |||||||||||
AIR FREIGHT & LOGISTICS | ||||||||||||
Other Securities (a)(b) | 291,822 | 0.44 | ||||||||||
AIRLINES | ||||||||||||
Other Securities (b) | 217,436 | 0.33 | ||||||||||
AUTO COMPONENTS | ||||||||||||
Other Securities (b) | 190,179 | 0.29 | ||||||||||
AUTOMOBILES | ||||||||||||
Other Securities (a)(b) | 60,055 | 0.09 | ||||||||||
BEVERAGES | ||||||||||||
Other Securities (a)(b) | 116,390 | 0.18 | ||||||||||
BIOTECHNOLOGY | ||||||||||||
Regeneron Pharmaceuticals, Inc. (a)(b) | 9,923 | 325,772 | 0.49 | |||||||||
Other Securities (a)(b) | 521,153 | 0.80 | ||||||||||
846,925 | 1.29 | |||||||||||
BUILDING PRODUCTS | ||||||||||||
Other Securities (a)(b) | 806,811 | 1.22 | ||||||||||
CAPITAL MARKETS | ||||||||||||
Stifel Financial Corp. (a)(b) | 4,749 | 294,628 | 0.45 | |||||||||
Other Securities (a)(b) | 333,909 | 0.50 | ||||||||||
628,537 | 0.95 | |||||||||||
CHEMICALS | ||||||||||||
Other Securities (a)(b) | 1,339,997 | 2.03 | ||||||||||
COMMERCIAL BANKS | ||||||||||||
Signature Bank (a)(b) | 5,518 | 275,900 | 0.42 | |||||||||
Other Securities (a)(b) | 3,616,237 | 5.49 | ||||||||||
3,892,137 | 5.91 | |||||||||||
COMMERCIAL SERVICES & SUPPLIES | ||||||||||||
Other Securities (a)(b) | 1,622,790 | 2.46 | ||||||||||
COMMUNICATIONS EQUIPMENT | ||||||||||||
ViaSat, Inc. (a)(b) | 5,545 | 246,253 | 0.37 | |||||||||
Other Securities (a)(b) | 1,303,899 | 1.98 | ||||||||||
1,550,152 | 2.35 | |||||||||||
COMPUTERS & PERIPHERALS | ||||||||||||
Other Securities (a)(b) | 602,491 | 0.91 | ||||||||||
CONSTRUCTION & ENGINEERING | ||||||||||||
EMCOR Group, Inc. (a) | 9,043 | 262,066 | 0.40 | |||||||||
Other Securities (a)(b) | 320,791 | 0.48 | ||||||||||
582,857 | 0.88 | |||||||||||
CONSTRUCTION MATERIALS | ||||||||||||
Other Securities (a)(b) | 383,124 | 0.58 | ||||||||||
CONSUMER FINANCE | ||||||||||||
Other Securities (a)(b) | 573,864 | 0.87 | ||||||||||
CONTAINERS & PACKAGING | ||||||||||||
Other Securities (b) | 47,054 | 0.07 | ||||||||||
DISTRIBUTORS | ||||||||||||
Other Securities (a) | 21,532 | 0.03 | ||||||||||
DIVERSIFIED CONSUMER SERVICES | ||||||||||||
Coinstar, Inc. (a)(b) | 4,281 | 241,620 | 0.37 | |||||||||
Other Securities (a)(b) | 623,073 | 0.94 | ||||||||||
864,693 | 1.31 | |||||||||||
DIVERSIFIED FINANCIAL SERVICES | ||||||||||||
Other Securities (a)(b) | 275,837 | 0.42 | ||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES | ||||||||||||
Other Securities (a)(b) | 242,057 | 0.37 | ||||||||||
ELECTRIC UTILITIES | ||||||||||||
Other Securities (a)(b) | 738,661 | 1.12 | ||||||||||
ELECTRICAL EQUIPMENT | ||||||||||||
Belden CDT, Inc. (b) | 6,349 | 233,770 | 0.36 | |||||||||
Brady Corp. (Class A) | 7,130 | 232,509 | 0.35 | |||||||||
Other Securities (a)(b) | 377,079 | 0.57 | ||||||||||
843,358 | 1.28 | |||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS | ||||||||||||
Other Securities (a)(b) | 2,605,542 | 3.95 | ||||||||||
ENERGY EQUIPMENT & SERVICES | ||||||||||||
Bristow Group, Inc. (a)(b) | 4,899 | 231,968 | 0.35 | |||||||||
CARBO Ceramics, Inc. (b) | 2,603 | 269,515 | 0.41 | |||||||||
Lufkin Industries, Inc. (b) | 4,059 | 253,241 | 0.38 | |||||||||
Oil States International, Inc. (a)(b) | 6,836 | 438,119 | 0.66 | |||||||||
SEACOR Holdings, Inc. (b) | 2,897 | 292,858 | 0.44 | |||||||||
Other Securities (a)(b) | 592,912 | 0.91 | ||||||||||
2,078,613 | 3.15 | |||||||||||
FOOD & STAPLES RETAILING | ||||||||||||
United Natural Foods, Inc. (a)(b) | 6,560 | 240,621 | 0.36 | |||||||||
Other Securities (b) | 430,209 | 0.66 | ||||||||||
670,830 | 1.02 | |||||||||||
FOOD PRODUCTS | ||||||||||||
TreeHouse Foods, Inc. (a)(b) | 4,775 | 243,955 | 0.37 | |||||||||
Other Securities (a)(b) | 940,200 | 1.43 | ||||||||||
1,184,155 | 1.80 | |||||||||||
GAS UTILITIES | ||||||||||||
New Jersey Resources Corp. (b) | 5,602 | 241,502 | 0.37 | |||||||||
Piedmont Natural Gas Co., Inc. (b) | 9,821 | 274,595 | 0.42 | |||||||||
Other Securities (b) | 722,164 | 1.09 | ||||||||||
1,238,261 | 1.88 | |||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES | ||||||||||||
The Cooper Cos., Inc. | 6,253 | 352,294 | 0.54 | |||||||||
Other Securities (a)(b) | 2,230,400 | 3.38 | ||||||||||
2,582,694 | 3.92 | |||||||||||
HEALTH CARE PROVIDERS & SERVICES | ||||||||||||
AMERIGROUP Corp. (a)(b) | 6,739 | 295,977 | 0.45 |
See accompanying notes to financial statements.
106
Table of Contents
SPDR S&P 600 Small Cap ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
Catalyst Health Solutions, Inc. (a) | 5,360 | $ | 249,186 | 0.38 | % | |||||||
HMS Holdings Corp. (a)(b) | 3,774 | 244,442 | 0.37 | |||||||||
Other Securities (a)(b) | 2,416,217 | 3.66 | ||||||||||
3,205,822 | 4.86 | |||||||||||
HEALTH CARE TECHNOLOGY | ||||||||||||
Other Securities (a)(b) | 135,018 | 0.21 | ||||||||||
HOTELS, RESTAURANTS & LEISURE | ||||||||||||
Other Securities (a)(b) | 1,990,360 | 3.02 | ||||||||||
HOUSEHOLD DURABLES | ||||||||||||
Other Securities (a)(b) | 688,720 | 1.05 | ||||||||||
HOUSEHOLD PRODUCTS | ||||||||||||
Other Securities (a)(b) | 163,935 | 0.25 | ||||||||||
INDUSTRIAL CONGLOMERATES | ||||||||||||
Other Securities (b) | 112,895 | 0.17 | ||||||||||
INSURANCE | ||||||||||||
ProAssurance Corp. (a)(b) | 4,184 | 253,550 | 0.38 | |||||||||
Other Securities (a)(b) | 1,376,132 | 2.09 | ||||||||||
1,629,682 | 2.47 | |||||||||||
INTERNET & CATALOG RETAIL | ||||||||||||
Vitacost.com, Inc. (c) | 857 | 0 | 0.00 | |||||||||
Other Securities (a)(b) | 404,965 | 0.62 | ||||||||||
404,965 | 0.62 | |||||||||||
INTERNET SOFTWARE & SERVICES | ||||||||||||
Other Securities (a)(b) | 808,449 | 1.23 | ||||||||||
IT SERVICES | ||||||||||||
Wright Express Corp. (a) | 5,214 | 239,844 | 0.36 | |||||||||
Other Securities (a)(b) | 873,128 | 1.33 | ||||||||||
1,112,972 | 1.69 | |||||||||||
LEISURE EQUIPMENT & PRODUCTS | ||||||||||||
Other Securities (a)(b) | 647,168 | 0.98 | ||||||||||
LIFE SCIENCES TOOLS & SERVICES | ||||||||||||
Dionex Corp. (a)(b) | 2,344 | 276,615 | 0.42 | |||||||||
Other Securities (a)(b) | 327,706 | 0.50 | ||||||||||
604,321 | 0.92 | |||||||||||
MACHINERY | ||||||||||||
Actuant Corp. (Class A) (b) | 9,324 | 248,205 | 0.38 | |||||||||
CLARCOR, Inc. (b) | 6,881 | 295,126 | 0.45 | |||||||||
The Toro Co. | 4,274 | 263,449 | 0.40 | |||||||||
Other Securities (a)(b) | 1,862,697 | 2.82 | ||||||||||
2,669,477 | 4.05 | |||||||||||
MEDIA | ||||||||||||
Live Nation, Inc. (a)(b) | 20,291 | 231,723 | 0.35 | |||||||||
Other Securities (a)(b) | 195,036 | 0.30 | ||||||||||
426,759 | 0.65 | |||||||||||
METALS & MINING | ||||||||||||
Other Securities (a)(b) | 622,815 | 0.95 | ||||||||||
MULTI-UTILITIES | ||||||||||||
Other Securities (b) | 419,878 | 0.64 | ||||||||||
MULTILINE RETAIL | ||||||||||||
Other Securities (a)(b) | 99,683 | 0.15 | ||||||||||
OIL, GAS & CONSUMABLE FUELS | ||||||||||||
Holly Corp. | 6,030 | 245,843 | 0.37 | |||||||||
World Fuel Services Corp. (b) | 9,399 | 339,868 | 0.52 | |||||||||
Other Securities (a)(b) | 862,485 | 1.31 | ||||||||||
1,448,196 | 2.20 | |||||||||||
PAPER & FOREST PRODUCTS | ||||||||||||
Other Securities (a)(b) | 650,945 | 0.99 | ||||||||||
PERSONAL PRODUCTS | ||||||||||||
Other Securities (a) | 54,179 | 0.08 | ||||||||||
PHARMACEUTICALS | ||||||||||||
Salix Pharmaceuticals, Ltd. (a)(b) | 7,942 | 372,956 | 0.57 | |||||||||
Other Securities (a)(b) | 404,406 | 0.61 | ||||||||||
777,362 | 1.18 | |||||||||||
PROFESSIONAL SERVICES | ||||||||||||
Other Securities (a)(b) | 660,609 | 1.00 | ||||||||||
REAL ESTATE INVESTMENT TRUSTS | ||||||||||||
BioMed Realty Trust, Inc. (b) | 17,818 | 332,306 | 0.50 | |||||||||
DiamondRock Hospitality Co. (a)(b) | 21,055 | 252,660 | 0.38 | |||||||||
Entertainment Properties Trust (b) | 6,307 | 291,699 | 0.44 | |||||||||
Home Properties, Inc. (b) | 5,137 | 285,052 | 0.43 | |||||||||
Kilroy Realty Corp. (b) | 7,165 | 261,308 | 0.40 | |||||||||
LaSalle Hotel Properties (b) | 9,950 | 262,680 | 0.40 | |||||||||
Mid-America Apartment Communities, Inc. (b) | 4,647 | 295,038 | 0.45 | |||||||||
National Retail Properties, Inc. (b) | 11,367 | 301,226 | 0.46 | |||||||||
Post Properties, Inc. | 6,620 | 240,306 | 0.37 | |||||||||
Tanger Factory Outlet Centers, Inc. (b) | 5,526 | 282,876 | 0.43 | |||||||||
Other Securities (b) | 2,205,518 | 3.34 | ||||||||||
5,010,669 | 7.60 | |||||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT | ||||||||||||
Other Securities (a)(b) | 92,563 | 0.14 | ||||||||||
ROAD & RAIL | ||||||||||||
Other Securities (a)(b) | 551,474 | 0.84 | ||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||
Cypress Semiconductor Corp. (a)(b) | 22,574 | 419,425 | 0.64 | |||||||||
Microsemi Corp. (a) | 11,331 | 259,480 | 0.39 | |||||||||
TriQuint Semiconductor, Inc. (a)(b) | 21,683 | 253,474 | 0.39 | |||||||||
Varian Semiconductor Equipment Associates, Inc. (a) | 10,059 | 371,881 | 0.57 | |||||||||
Veeco Instruments, Inc. (a)(b) | 5,389 | 231,512 | 0.35 | |||||||||
Other Securities (a)(b) | 2,362,018 | 3.58 | ||||||||||
3,897,790 | 5.92 | |||||||||||
See accompanying notes to financial statements.
107
Table of Contents
SPDR S&P 600 Small Cap ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
SOFTWARE | ||||||||||||
Progress Software Corp. (a) | 5,940 | $ | 251,381 | 0.38 | % | |||||||
Other Securities (a)(b) | 2,324,872 | 3.53 | ||||||||||
2,576,253 | 3.91 | |||||||||||
SPECIALTY RETAIL | ||||||||||||
Other Securities (a)(b) | 2,777,002 | 4.21 | ||||||||||
TEXTILES, APPAREL & LUXURY GOODS | ||||||||||||
Other Securities (a)(b) | 1,608,874 | 2.44 | ||||||||||
THRIFTS & MORTGAGE FINANCE | ||||||||||||
Other Securities (b) | 345,100 | 0.52 | ||||||||||
TOBACCO | ||||||||||||
Other Securities (a)(b) | 50,146 | 0.08 | ||||||||||
TRADING COMPANIES & DISTRIBUTORS | ||||||||||||
Other Securities (b) | 284,190 | 0.43 | ||||||||||
WATER UTILITIES | ||||||||||||
Other Securities (b) | 85,830 | 0.13 | ||||||||||
WIRELESS TELECOMMUNICATION SERVICES | ||||||||||||
Other Securities (b) | 129,767 | 0.20 | ||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $67,018,394) | 65,754,662 | 99.78 | ||||||||||
Principal | ||||||||||||
Amount | ||||||||||||
CORPORATE BONDS & NOTES | ||||||||||||
CAPITAL MARKETS | ||||||||||||
Gamco Investors, Inc. Zero Coupon, 12/31/2015 (c) (Cost $474) | 474 | $ | 0 | 0.00 | ||||||||
Shares | ||||||||||||
SHORT TERM INVESTMENTS | ||||||||||||
MONEY MARKET FUNDS | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 17,762,102 | $ | 17,762,102 | 26.95 | ||||||||
State Street Institutional Liquid Reserves Fund 0.18% (e)(f) | 126,568 | 126,568 | 0.19 | |||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $17,888,670) | 17,888,670 | 27.14 | ||||||||||
TOTAL INVESTMENTS (g) | ||||||||||||
(Cost $84,907,538) | 83,643,332 | 126.92 | ||||||||||
OTHER ASSETS & LIABILITIES | (17,739,576 | ) | (26.92 | ) | ||||||||
NET ASSETS | $ | 65,903,756 | 100.00 | |||||||||
Other Securities are those securities, which individually are not one of the 50 largest unaffiliated issuers and which represent less than one percent of the net assets of the Fund at December 31, 2010.
(a) | Non-income producing security. | |||||
(b) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(c) | Securities are valued at fair value as determined in good faith by the Trust’s Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. Securities’ values are determined based on Level 2 inputs. (Note 2) | |||||
(d) | Investments of cash collateral for securities loaned. | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
108
Table of Contents
SPDR S&P 600 Small Cap Growth ETF
SUMMARY SCHEDULE OF INVESTMENTS
SUMMARY SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
COMMON STOCKS | ||||||||||||
AEROSPACE & DEFENSE | ||||||||||||
Triumph Group, Inc. | 12,076 | $ | 1,079,715 | 0.62 | % | |||||||
Other Securities (a) | 1,800,528 | 1.03 | ||||||||||
2,880,243 | 1.65 | |||||||||||
AIR FREIGHT & LOGISTICS | ||||||||||||
Other Securities (a) | 740,205 | 0.42 | ||||||||||
AIRLINES | ||||||||||||
Other Securities | 540,409 | 0.31 | ||||||||||
AUTO COMPONENTS | ||||||||||||
Other Securities | 129,251 | 0.07 | ||||||||||
BEVERAGES | ||||||||||||
Other Securities (a) | 634,155 | 0.36 | ||||||||||
BIOTECHNOLOGY | ||||||||||||
Cubist Pharmaceuticals, Inc. (a) | 43,398 | 928,717 | 0.53 | |||||||||
Regeneron Pharmaceuticals, Inc. (a) | 53,175 | 1,745,735 | 1.00 | |||||||||
Other Securities (a)(b) | 735,969 | 0.42 | ||||||||||
3,410,421 | 1.95 | |||||||||||
BUILDING PRODUCTS | ||||||||||||
Other Securities (a) | 719,082 | 0.41 | ||||||||||
CAPITAL MARKETS | ||||||||||||
Stifel Financial Corp. (a) | 25,771 | 1,598,833 | 0.91 | |||||||||
Other Securities | 485,832 | 0.28 | ||||||||||
2,084,665 | 1.19 | |||||||||||
CHEMICALS | ||||||||||||
Other Securities (a) | 2,767,245 | 1.59 | ||||||||||
COMMERCIAL BANKS | ||||||||||||
Signature Bank (a) | 29,647 | 1,482,350 | 0.85 | |||||||||
Other Securities (b) | 1,852,908 | 1.06 | ||||||||||
3,335,258 | 1.91 | |||||||||||
COMMERCIAL SERVICES & SUPPLIES | ||||||||||||
Other Securities (a) | 3,088,373 | 1.77 | ||||||||||
COMMUNICATIONS EQUIPMENT | ||||||||||||
Blue Coat Systems, Inc. (a) | 31,582 | 943,354 | 0.54 | |||||||||
Netgear, Inc. (a) | 26,178 | 881,675 | 0.50 | |||||||||
ViaSat, Inc. (a) | 30,012 | 1,332,833 | 0.76 | |||||||||
Other Securities (a) | 1,240,817 | 0.72 | ||||||||||
4,398,679 | 2.52 | |||||||||||
COMPUTERS & PERIPHERALS | ||||||||||||
Other Securities (a) | 2,120,048 | 1.22 | ||||||||||
CONSTRUCTION & ENGINEERING | ||||||||||||
Other Securities (a) | 227,140 | 0.13 | ||||||||||
CONSTRUCTION MATERIALS | ||||||||||||
Other Securities | 282,867 | 0.16 | ||||||||||
CONSUMER FINANCE | ||||||||||||
Ezcorp, Inc. (a) | 36,358 | 986,392 | 0.56 | |||||||||
Other Securities (a)(b) | 2,087,751 | 1.20 | ||||||||||
3,074,143 | 1.76 | |||||||||||
DIVERSIFIED CONSUMER SERVICES | ||||||||||||
Coinstar, Inc. (a) | 23,113 | 1,304,498 | 0.75 | |||||||||
Other Securities (a)(b) | 2,481,493 | 1.42 | ||||||||||
3,785,991 | 2.17 | |||||||||||
DIVERSIFIED FINANCIAL SERVICES | ||||||||||||
Portfolio Recovery Associates, Inc. (a) | 12,465 | 937,368 | 0.54 | |||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES | ||||||||||||
Other Securities (a) | 1,153,595 | 0.66 | ||||||||||
ELECTRIC UTILITIES | ||||||||||||
Other Securities (a) | 383,713 | 0.22 | ||||||||||
ELECTRICAL EQUIPMENT | ||||||||||||
Other Securities (a)(b) | 1,916,839 | 1.10 | ||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS | ||||||||||||
Other Securities (a)(b) | 5,346,762 | 3.06 | ||||||||||
ENERGY EQUIPMENT & SERVICES | ||||||||||||
CARBO Ceramics, Inc. | 13,844 | 1,433,408 | 0.82 | |||||||||
Oil States International, Inc. (a) | 36,949 | 2,368,062 | 1.36 | |||||||||
SEACOR Holdings, Inc. | 10,425 | 1,053,863 | 0.60 | |||||||||
Other Securities (a) | 1,323,761 | 0.76 | ||||||||||
6,179,094 | 3.54 | |||||||||||
FOOD & STAPLES RETAILING | ||||||||||||
Other Securities (a) | 1,034,960 | 0.59 | ||||||||||
FOOD PRODUCTS | ||||||||||||
TreeHouse Foods, Inc. (a) | 25,844 | 1,320,370 | 0.76 | |||||||||
Other Securities (a)(b) | 2,733,712 | 1.56 | ||||||||||
4,054,082 | 2.32 | |||||||||||
GAS UTILITIES | ||||||||||||
Other Securities | 1,353,355 | 0.78 | ||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES | ||||||||||||
Align Technology, Inc. (a) | 49,536 | 967,933 | 0.55 | |||||||||
American Medical Systems Holdings, Inc. (a) | 55,870 | 1,053,708 | 0.60 | |||||||||
Haemonetics Corp. (a) | 18,109 | 1,144,127 | 0.66 | |||||||||
The Cooper Cos., Inc. | 33,343 | 1,878,545 | 1.08 | |||||||||
Other Securities (a)(b) | 5,308,104 | 3.04 | ||||||||||
10,352,417 | 5.93 | |||||||||||
HEALTH CARE PROVIDERS & SERVICES | ||||||||||||
AMERIGROUP Corp. (a) | 22,096 | 970,456 | 0.56 | |||||||||
Catalyst Health Solutions, Inc. (a) | 28,587 | 1,329,010 | 0.76 | |||||||||
Chemed Corp. | 16,663 | 1,058,267 | 0.61 | |||||||||
Healthspring, Inc. (a) | 41,752 | 1,107,681 | 0.63 | |||||||||
HMS Holdings Corp. (a) | 20,115 | 1,302,849 | 0.75 | |||||||||
Other Securities (a)(b) | 4,747,594 | 2.72 | ||||||||||
10,515,857 | 6.03 | |||||||||||
HEALTH CARE TECHNOLOGY | ||||||||||||
Other Securities (a) | 546,466 | 0.31 | ||||||||||
HOTELS, RESTAURANTS & LEISURE | ||||||||||||
Cracker Barrel Old Country Store, Inc. | 17,033 | 932,897 | 0.53 | |||||||||
Other Securities (a) | 6,401,434 | 3.67 | ||||||||||
7,334,331 | 4.20 | |||||||||||
See accompanying notes to financial statements.
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SPDR S&P 600 Small Cap Growth ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
HOUSEHOLD DURABLES | ||||||||||||
Other Securities (a) | $ | 978,812 | 0.56 | % | ||||||||
HOUSEHOLD PRODUCTS | ||||||||||||
Other Securities | 266,090 | 0.15 | ||||||||||
INSURANCE | ||||||||||||
Other Securities (a) | 874,403 | 0.50 | ||||||||||
INTERNET & CATALOG RETAIL | ||||||||||||
Vitacost.com, Inc. (c) | 4,573 | 0 | 0.00 | |||||||||
Other Securities (a) | 1,959,178 | 1.12 | ||||||||||
1,959,178 | 1.12 | |||||||||||
INTERNET SOFTWARE & SERVICES | ||||||||||||
j2 Global Communications, Inc. (a) | 33,351 | 965,512 | 0.55 | |||||||||
Other Securities (a) | 2,125,535 | 1.22 | ||||||||||
3,091,047 | 1.77 | |||||||||||
IT SERVICES | ||||||||||||
Wright Express Corp. (a) | 27,987 | 1,287,402 | 0.74 | |||||||||
Other Securities (a) | 2,513,346 | 1.44 | ||||||||||
3,800,748 | 2.18 | |||||||||||
LEISURE EQUIPMENT & PRODUCTS | ||||||||||||
Other Securities (a) | 1,092,366 | 0.63 | ||||||||||
LIFE SCIENCES TOOLS & SERVICES | ||||||||||||
Dionex Corp. (a) | 12,708 | 1,499,671 | 0.86 | |||||||||
PAREXEL International Corp. (a) | 42,429 | 900,768 | 0.52 | |||||||||
Other Securities (a) | 239,390 | 0.13 | ||||||||||
2,639,829 | 1.51 | |||||||||||
MACHINERY | ||||||||||||
Other Securities (a)(b) | 4,600,843 | 2.64 | ||||||||||
MEDIA | ||||||||||||
Other Securities (a)(b) | 906,598 | 0.52 | ||||||||||
METALS & MINING | ||||||||||||
Other Securities (a)(b) | 1,096,782 | 0.63 | ||||||||||
OIL, GAS & CONSUMABLE FUELS | ||||||||||||
Other Securities (a) | 2,300,027 | 1.32 | ||||||||||
PAPER & FOREST PRODUCTS | ||||||||||||
Other Securities (a) | 2,050,533 | 1.18 | ||||||||||
PERSONAL PRODUCTS | ||||||||||||
Other Securities (a) | 283,515 | 0.16 | ||||||||||
PHARMACEUTICALS | ||||||||||||
Par Pharmaceutical Cos., Inc. (a)(b) | 26,013 | 1,001,761 | 0.57 | |||||||||
Salix Pharmaceuticals, Ltd. (a) | 42,400 | 1,991,104 | 1.14 | |||||||||
ViroPharma, Inc. (a) | 56,969 | 986,703 | 0.57 | |||||||||
Other Securities (a) | 227,840 | 0.13 | ||||||||||
4,207,408 | 2.41 | |||||||||||
PROFESSIONAL SERVICES | ||||||||||||
Other Securities (a) | 1,172,549 | 0.67 | ||||||||||
REAL ESTATE INVESTMENT TRUSTS | ||||||||||||
Home Properties, Inc. | 15,998 | 887,729 | 0.51 | |||||||||
Mid-America Apartment Communities, Inc. | 14,781 | 938,446 | 0.54 | |||||||||
National Retail Properties, Inc. | 37,163 | 984,820 | 0.56 | |||||||||
Tanger Factory Outlet Centers, Inc. | 29,618 | 1,516,145 | 0.87 | |||||||||
Other Securities (a)(b) | 8,869,662 | 5.08 | ||||||||||
13,196,802 | 7.56 | |||||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT | ||||||||||||
Other Securities (a) | 302,875 | 0.17 | ||||||||||
ROAD & RAIL | ||||||||||||
Other Securities (a) | 1,184,461 | 0.68 | ||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||
Cypress Semiconductor Corp. (a) | 121,255 | 2,252,918 | 1.29 | |||||||||
Hittite Microwave Corp. (a) | 17,973 | 1,097,072 | 0.63 | |||||||||
TriQuint Semiconductor, Inc. (a) | 116,265 | 1,359,138 | 0.78 | |||||||||
Varian Semiconductor Equipment Associates, Inc. (a) | 27,000 | 998,190 | 0.57 | |||||||||
Veeco Instruments, Inc. (a)(b) | 29,211 | 1,254,905 | 0.72 | |||||||||
Other Securities (a)(b) | 7,796,791 | 4.47 | ||||||||||
14,759,014 | 8.46 | |||||||||||
SOFTWARE | ||||||||||||
Commvault Systems, Inc. (a) | 31,436 | 899,698 | 0.52 | |||||||||
JDA Software Group, Inc. (a) | 31,999 | 895,972 | 0.51 | |||||||||
Progress Software Corp. (a) | 31,651 | 1,339,470 | 0.77 | |||||||||
Quality Systems, Inc. | 13,998 | 977,340 | 0.56 | |||||||||
Other Securities (a)(b) | 8,506,135 | 4.87 | ||||||||||
12,618,615 | 7.23 | |||||||||||
SPECIALTY RETAIL | ||||||||||||
Jo-Ann Stores, Inc. (a) | 19,201 | 1,156,284 | 0.66 | |||||||||
Other Securities (a)(b) | 6,969,183 | 4.00 | ||||||||||
8,125,467 | 4.66 | |||||||||||
TEXTILES, APPAREL & LUXURY GOODS | ||||||||||||
Carter’s, Inc. (a) | 42,033 | 1,240,394 | 0.71 | |||||||||
Crocs, Inc. (a) | 63,820 | 1,092,598 | 0.63 | |||||||||
Iconix Brand Group, Inc. (a) | 53,071 | 1,024,801 | 0.59 | |||||||||
Other Securities (a) | 2,812,125 | 1.61 | ||||||||||
6,169,918 | 3.54 | |||||||||||
THRIFTS & MORTGAGE FINANCE | ||||||||||||
Other Securities | 318,519 | 0.18 | ||||||||||
WATER UTILITIES | ||||||||||||
Other Securities | 249,046 | 0.14 | ||||||||||
WIRELESS TELECOMMUNICATION SERVICES | ||||||||||||
Other Securities | 338,042 | 0.19 | ||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $177,022,451) | 173,910,501 | 99.63 | ||||||||||
See accompanying notes to financial statements.
110
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SPDR S&P 600 Small Cap Growth ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
SHORT TERM INVESTMENTS | ||||||||||||
MONEY MARKET FUNDS | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 21,802,253 | $ | 21,802,253 | 12.49 | % | |||||||
State Street Institutional Liquid Reserves Fund 0.18% (e)(f) | 590,869 | 590,869 | 0.34 | |||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $22,393,122) | 22,393,122 | 12.83 | ||||||||||
TOTAL INVESTMENTS (g) | ||||||||||||
(Cost $199,415,573) | 196,303,623 | 112.46 | ||||||||||
OTHER ASSETS & LIABILITIES | (21,745,280 | ) | (12.46 | ) | ||||||||
NET ASSETS | $ | 174,558,343 | 100.00 | |||||||||
Other Securities are those securities, which individually are not one of the 50 largest unaffiliated issuers and which represent less than one percent of the net assets of the Fund at December 31, 2010.
(a) | Non-income producing security. | |||||
(b) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(c) | Security is valued at fair value as determined in good faith by the Trust’s Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. Security value is determined based on Level 2 inputs. (Note 2) | |||||
(d) | Investments of cash collateral for securities loaned | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
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SPDR S&P 600 Small Cap Value ETF
SUMMARY SCHEDULE OF INVESTMENTS
SUMMARY SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
COMMON STOCKS | ||||||||||||
AEROSPACE & DEFENSE | ||||||||||||
Curtiss-Wright Corp. | 25,190 | $ | 836,308 | 0.62 | % | |||||||
Esterline Technologies Corp. (a) | 16,493 | 1,131,255 | 0.84 | |||||||||
Moog, Inc. (Class A) (a) | 24,800 | 987,040 | 0.73 | |||||||||
Teledyne Technologies, Inc. (a) | 19,900 | 875,003 | 0.65 | |||||||||
Other Securities (a) | 1,712,524 | 1.28 | ||||||||||
5,542,130 | 4.12 | |||||||||||
AIR FREIGHT & LOGISTICS | ||||||||||||
Other Securities (a) | 615,340 | 0.46 | ||||||||||
AIRLINES | ||||||||||||
Other Securities | 473,239 | 0.35 | ||||||||||
AUTO COMPONENTS | ||||||||||||
Other Securities (b) | 667,634 | 0.50 | ||||||||||
AUTOMOBILES | ||||||||||||
Other Securities (a)(b) | 243,154 | 0.18 | ||||||||||
BIOTECHNOLOGY | ||||||||||||
Other Securities (a)(b) | 849,597 | 0.63 | ||||||||||
BUILDING PRODUCTS | ||||||||||||
Simpson Manufacturing Co., Inc. | 21,723 | 671,458 | 0.50 | |||||||||
Other Securities (a) | 2,037,647 | 1.52 | ||||||||||
2,709,105 | 2.02 | |||||||||||
CAPITAL MARKETS | ||||||||||||
Other Securities (a) | 983,632 | 0.73 | ||||||||||
CHEMICALS | ||||||||||||
Other Securities (a)(b) | 3,300,450 | 2.46 | ||||||||||
COMMERCIAL BANKS | ||||||||||||
Glacier Bancorp, Inc. (b) | 39,281 | 593,536 | 0.44 | |||||||||
Old National Bancorp | 51,982 | 618,066 | 0.46 | |||||||||
Susquehanna Bancshares, Inc. | 71,368 | 690,842 | 0.51 | |||||||||
Umpqua Holdings Corp. (b) | 62,953 | 766,768 | 0.57 | |||||||||
United Bankshares, Inc. (b) | 20,919 | 610,835 | 0.45 | |||||||||
Whitney Holding Corp. (b) | 53,173 | 752,398 | 0.56 | |||||||||
Wintrust Financial Corp. | 18,870 | 623,276 | 0.46 | |||||||||
Other Securities (a)(b) | 8,530,083 | 6.36 | ||||||||||
13,185,804 | 9.81 | |||||||||||
COMMERCIAL SERVICES & SUPPLIES | ||||||||||||
ABM Industries, Inc. | 25,815 | 678,935 | 0.50 | |||||||||
The Geo Group, Inc. (a) | 35,400 | 872,964 | 0.65 | |||||||||
United Stationers, Inc. (a) | 12,641 | 806,622 | 0.60 | |||||||||
Other Securities (a)(b) | 1,854,415 | 1.38 | ||||||||||
4,212,936 | 3.13 | |||||||||||
COMMUNICATIONS EQUIPMENT | ||||||||||||
Arris Group, Inc. (a) | 67,900 | 761,838 | 0.57 | |||||||||
Other Securities (a)(b) | 2,181,761 | 1.62 | ||||||||||
2,943,599 | 2.19 | |||||||||||
COMPUTERS & PERIPHERALS | ||||||||||||
Other Securities (a)(b) | 836,848 | 0.62 | ||||||||||
CONSTRUCTION & ENGINEERING | ||||||||||||
EMCOR Group, Inc. (a) | 36,500 | 1,057,770 | 0.79 | |||||||||
Other Securities (a) | 1,126,565 | 0.83 | ||||||||||
2,184,335 | 1.62 | |||||||||||
CONSTRUCTION MATERIALS | ||||||||||||
Texas Industries, Inc. (b) | 15,274 | 699,244 | 0.52 | |||||||||
Other Securities (a)(b) | 621,238 | 0.46 | ||||||||||
1,320,482 | 0.98 | |||||||||||
CONTAINERS & PACKAGING | ||||||||||||
Other Securities | 189,112 | 0.14 | ||||||||||
DISTRIBUTORS | ||||||||||||
Other Securities (a) | 88,026 | 0.07 | ||||||||||
DIVERSIFIED CONSUMER SERVICES | ||||||||||||
Other Securities (a)(b) | 634,137 | 0.47 | ||||||||||
DIVERSIFIED FINANCIAL SERVICES | ||||||||||||
Other Securities | 413,424 | 0.31 | ||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES | ||||||||||||
Other Securities (a) | 113,940 | 0.08 | ||||||||||
ELECTRIC UTILITIES | ||||||||||||
ALLETE, Inc. | 17,044 | 635,060 | 0.47 | |||||||||
UIL Holdings Corp. (b) | 27,551 | 825,428 | 0.61 | |||||||||
Unisource Energy Corp. (b) | 19,961 | 715,402 | 0.53 | |||||||||
Other Securities (a) | 513,622 | 0.39 | ||||||||||
2,689,512 | 2.00 | |||||||||||
ELECTRICAL EQUIPMENT | ||||||||||||
Brady Corp. (Class A) | 28,804 | 939,298 | 0.70 | |||||||||
Other Securities (a) | 1,028,549 | 0.76 | ||||||||||
1,967,847 | 1.46 | |||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS | ||||||||||||
Anixter International, Inc. | 15,400 | 919,842 | 0.68 | |||||||||
Benchmark Electronics, Inc. (a) | 33,507 | 608,487 | 0.45 | |||||||||
Other Securities (a)(b) | 4,930,362 | 3.67 | ||||||||||
6,458,691 | 4.80 | |||||||||||
ENERGY EQUIPMENT & SERVICES | ||||||||||||
Bristow Group, Inc. (a) | 19,846 | 939,708 | 0.70 | |||||||||
Other Securities (a)(b) | 2,820,137 | 2.10 | ||||||||||
3,759,845 | 2.80 | |||||||||||
FOOD & STAPLES RETAILING | ||||||||||||
Casey’s General Stores, Inc. | 20,713 | 880,510 | 0.65 | |||||||||
Other Securities (a)(b) | 1,054,075 | 0.79 | ||||||||||
1,934,585 | 1.44 | |||||||||||
FOOD PRODUCTS | ||||||||||||
Other Securities (a)(b) | 1,719,240 | 1.28 | ||||||||||
GAS UTILITIES | ||||||||||||
New Jersey Resources Corp. (b) | 22,637 | 975,881 | 0.72 | |||||||||
Piedmont Natural Gas Co., Inc. | 25,369 | 709,317 | 0.53 | |||||||||
Southwest Gas Corp. | 24,893 | 912,826 | 0.68 | |||||||||
Other Securities | 1,371,676 | 1.02 | ||||||||||
3,969,700 | 2.95 | |||||||||||
See accompanying notes to financial statements.
112
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SPDR S&P 600 Small Cap Value ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
HEALTH CARE EQUIPMENT & SUPPLIES | ||||||||||||
Other Securities (a)(b) | $ | 2,619,513 | 1.95 | % | ||||||||
HEALTH CARE PROVIDERS & SERVICES | ||||||||||||
Centene Corp. (a) | 27,100 | 686,714 | 0.51 | |||||||||
Other Securities (a)(b) | 4,326,730 | 3.22 | ||||||||||
5,013,444 | 3.73 | |||||||||||
HEALTH CARE TECHNOLOGY | ||||||||||||
Other Securities (a) | 131,495 | 0.10 | ||||||||||
HOTELS, RESTAURANTS & LEISURE | ||||||||||||
Jack in the Box, Inc. (a) | 29,058 | 613,995 | 0.46 | |||||||||
Other Securities (a)(b) | 1,864,064 | 1.38 | ||||||||||
2,478,059 | 1.84 | |||||||||||
HOUSEHOLD DURABLES | ||||||||||||
Other Securities (a)(b) | 2,040,250 | 1.52 | ||||||||||
HOUSEHOLD PRODUCTS | ||||||||||||
Other Securities (a) | 469,639 | 0.35 | ||||||||||
INDUSTRIAL CONGLOMERATES | ||||||||||||
Other Securities | 452,123 | 0.34 | ||||||||||
INSURANCE | ||||||||||||
Delphi Financial Group | 29,722 | 857,182 | 0.64 | |||||||||
ProAssurance Corp. (a) | 16,813 | 1,018,868 | 0.76 | |||||||||
Other Securities (a) | 4,022,854 | 2.99 | ||||||||||
5,898,904 | 4.39 | |||||||||||
INTERNET & CATALOG RETAIL | ||||||||||||
Other Securities (b) | 157,725 | 0.12 | ||||||||||
INTERNET SOFTWARE & SERVICES | ||||||||||||
Other Securities (a)(b) | 925,858 | 0.69 | ||||||||||
IT SERVICES | ||||||||||||
CACI International, Inc. (Class A) (a) | 16,651 | 889,164 | 0.66 | |||||||||
Other Securities (a)(b) | 738,542 | 0.55 | ||||||||||
1,627,706 | 1.21 | |||||||||||
LEISURE EQUIPMENT & PRODUCTS | ||||||||||||
Pool Corp. | 27,158 | 612,141 | 0.46 | |||||||||
Other Securities (a) | 1,167,914 | 0.86 | ||||||||||
1,780,055 | 1.32 | |||||||||||
LIFE SCIENCES TOOLS & SERVICES | ||||||||||||
Other Securities (a)(b) | 460,826 | 0.34 | ||||||||||
MACHINERY | ||||||||||||
Actuant Corp. (Class A) (b) | 37,300 | 992,926 | 0.74 | |||||||||
CLARCOR, Inc. | 14,400 | 617,616 | 0.46 | |||||||||
Mueller Industries, Inc. | 20,774 | 679,310 | 0.51 | |||||||||
Other Securities (a)(b) | 4,970,699 | 3.69 | ||||||||||
7,260,551 | 5.40 | |||||||||||
MEDIA | ||||||||||||
Live Nation, Inc. (a)(b) | 81,700 | 933,014 | 0.69 | |||||||||
Other Securities (a)(b) | 104,981 | 0.08 | ||||||||||
1,037,995 | 0.77 | |||||||||||
METALS & MINING | ||||||||||||
Other Securities (a)(b) | 1,683,369 | 1.25 | ||||||||||
MULTI-UTILITIES | ||||||||||||
Avista Corp. | 30,953 | 697,062 | 0.52 | |||||||||
Other Securities (b) | 997,869 | 0.74 | ||||||||||
1,694,931 | 1.26 | |||||||||||
MULTILINE RETAIL | ||||||||||||
Other Securities (a) | 402,243 | 0.30 | ||||||||||
OIL, GAS & CONSUMABLE FUELS | ||||||||||||
Holly Corp. | 24,193 | 986,349 | 0.73 | |||||||||
World Fuel Services Corp. | 37,800 | 1,366,848 | 1.02 | |||||||||
Other Securities (a)(b) | 1,737,162 | 1.29 | ||||||||||
4,090,359 | 3.04 | |||||||||||
PAPER & FOREST PRODUCTS | ||||||||||||
Other Securities (a)(b) | 1,071,122 | 0.80 | ||||||||||
PROFESSIONAL SERVICES | ||||||||||||
Other Securities (a)(b) | 1,759,756 | 1.31 | ||||||||||
REAL ESTATE INVESTMENT TRUSTS | ||||||||||||
BioMed Realty Trust, Inc. | 38,132 | 711,162 | 0.53 | |||||||||
Entertainment Properties Trust | 12,989 | 600,741 | 0.45 | |||||||||
Kilroy Realty Corp. (b) | 16,405 | 598,290 | 0.45 | |||||||||
LaSalle Hotel Properties | 25,300 | 667,920 | 0.50 | |||||||||
Other Securities (a)(b) | 7,720,181 | 5.73 | ||||||||||
10,298,294 | 7.66 | |||||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT | ||||||||||||
Other Securities (a) | 147,375 | 0.11 | ||||||||||
ROAD & RAIL | ||||||||||||
Other Securities (a)(b) | 1,321,380 | 0.98 | ||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||
Varian Semiconductor Equipment Associates, Inc. (a) | 20,300 | 750,491 | 0.56 | |||||||||
Other Securities (a)(b) | 3,867,709 | 2.88 | ||||||||||
4,618,200 | 3.44 | |||||||||||
SOFTWARE | ||||||||||||
Other Securities (a)(b) | 888,074 | 0.66 | ||||||||||
SPECIALTY RETAIL | ||||||||||||
OfficeMax, Inc. (a) | 46,740 | 827,298 | 0.62 | |||||||||
Other Securities (a)(b) | 4,259,887 | 3.16 | ||||||||||
5,087,185 | 3.78 | |||||||||||
TEXTILES, APPAREL & LUXURY GOODS | ||||||||||||
Other Securities (a)(b) | 1,849,103 | 1.38 | ||||||||||
THRIFTS & MORTGAGE FINANCE | ||||||||||||
Other Securities (b) | 1,154,631 | 0.86 | ||||||||||
TOBACCO | ||||||||||||
Other Securities (a)(b) | 202,863 | 0.15 | ||||||||||
TRADING COMPANIES & DISTRIBUTORS | ||||||||||||
Applied Industrial Technologies, Inc. | 20,769 | 674,577 | 0.50 | |||||||||
Other Securities | 470,779 | 0.35 | ||||||||||
1,145,356 | 0.85 | |||||||||||
WATER UTILITIES | ||||||||||||
Other Securities | 163,836 | 0.12 | ||||||||||
See accompanying notes to financial statements.
113
Table of Contents
SPDR S&P 600 Small Cap Value ETF
SUMMARY SCHEDULE OF INVESTMENTS (continued)
SUMMARY SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
% of | ||||||||||||
Net | ||||||||||||
Security Description | Shares | Value | Assets | |||||||||
WIRELESS TELECOMMUNICATION SERVICES | ||||||||||||
Other Securities | $ | 271,684 | 0.20 | % | ||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $135,673,471) | 134,210,248 | 99.82 | ||||||||||
Principal | ||||||||||||
Amount | ||||||||||||
CORPORATE BONDS & NOTES | ||||||||||||
CAPITAL MARKETS | ||||||||||||
Gamco Investors, Inc. Zero Coupon, 12/31/2015 (c) (Cost $2,339) | 2,339 | $ | 0 | 0.00 | ||||||||
Shares | ||||||||||||
SHORT TERM INVESTMENTS | ||||||||||||
MONEY MARKET FUNDS | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 12,885,505 | $ | 12,885,505 | 9.58 | ||||||||
State Street Institutional Liquid Reserves Fund 0.18% (e)(f) | 188,824 | 188,824 | 0.14 | |||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $13,074,329) | 13,074,329 | 9.72 | ||||||||||
TOTAL INVESTMENTS (g) | ||||||||||||
(Cost $148,750,139) | 147,284,577 | 109.54 | ||||||||||
OTHER ASSETS & LIABILITIES | (12,832,556 | ) | (9.54 | ) | ||||||||
NET ASSETS | $ | 134,452,021 | 100.00 | |||||||||
Other Securities are those securities, which individually are not one of the 50 largest unaffiliated issuers and which represent less than one percent of the net assets of the Fund at December 31, 2010.
(a) | Non-income producing security. | |||||
(b) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(c) | Security is valued at fair value as determined in good faith by the Trust’s Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. Security value is determined based on Level 2 inputs. (Note 2) | |||||
(d) | Investments of cash collateral for securities loaned | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
114
Table of Contents
SPDR DJ Global Titans ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.7% | ||||||||||||
AUSTRALIA — 2.4% | ||||||||||||
BHP Billiton, Ltd. ADR (a) | 31,816 | $ | 2,956,343 | |||||||||
BRAZIL — 1.1% | ||||||||||||
Petroleo Brasileiro SA ADR | 40,416 | 1,381,015 | ||||||||||
FRANCE — 3.9% | ||||||||||||
BNP Paribas | 18,942 | 1,209,849 | ||||||||||
Sanofi-Aventis SA ADR | 41,740 | 1,345,280 | ||||||||||
Total SA ADR | 42,258 | 2,259,958 | ||||||||||
4,815,087 | ||||||||||||
GERMANY — 3.5% | ||||||||||||
Allianz SE | 8,576 | 1,023,152 | ||||||||||
E.ON AG | 37,960 | 1,167,971 | ||||||||||
Siemens AG ADR | 16,309 | 2,026,393 | ||||||||||
4,217,516 | ||||||||||||
ITALY — 0.8% | ||||||||||||
Eni SpA ADR | 23,120 | 1,011,269 | ||||||||||
JAPAN — 3.0% | ||||||||||||
Mitsubishi UFJ Financial Group, Inc. ADR | 263,938 | 1,427,904 | ||||||||||
Toyota Motor Corp. ADR | 28,182 | 2,215,951 | ||||||||||
3,643,855 | ||||||||||||
NETHERLANDS ANTILLES — 1.8% | ||||||||||||
Schlumberger, Ltd. | 25,889 | 2,161,731 | ||||||||||
RUSSIA — 1.2% | ||||||||||||
Gazprom OAO ADR | 57,161 | 1,443,315 | ||||||||||
SOUTH KOREA — 1.4% | ||||||||||||
Samsung Electronics Co., Ltd. GDR (b) | 4,135 | 1,744,557 | ||||||||||
SPAIN — 2.8% | ||||||||||||
Banco Santander SA ADR (a) | 156,197 | 1,663,500 | ||||||||||
Telefonica SA ADR | 25,146 | 1,720,490 | ||||||||||
3,383,990 | ||||||||||||
SWITZERLAND — 6.8% | ||||||||||||
Nestle SA | 62,240 | 3,655,874 | ||||||||||
Novartis AG ADR (a) | 46,547 | 2,743,946 | ||||||||||
Roche Holding AG | 13,277 | 1,951,452 | ||||||||||
8,351,272 | ||||||||||||
UNITED KINGDOM — 10.5% | ||||||||||||
BP PLC ADR | 59,251 | 2,617,117 | ||||||||||
GlaxoSmithKline PLC ADR | 49,262 | 1,932,056 | ||||||||||
HSBC Holdings PLC ADR | 66,791 | 3,409,012 | ||||||||||
Royal Dutch Shell PLC ADR | 33,682 | 2,249,284 | ||||||||||
Vodafone Group PLC ADR (a) | 100,363 | 2,652,594 | ||||||||||
12,860,063 | ||||||||||||
UNITED STATES — 60.5% | ||||||||||||
Abbott Laboratories | 29,227 | 1,400,266 | ||||||||||
Apple, Inc. (c) | 17,414 | 5,617,060 | ||||||||||
AT&T, Inc. | 112,873 | 3,316,209 | ||||||||||
Bank of America Corp. | 188,224 | 2,510,908 | ||||||||||
Chevron Corp. | 37,959 | 3,463,759 | ||||||||||
Cisco Systems, Inc. (c) | 105,119 | 2,126,557 | ||||||||||
ConocoPhillips | 26,283 | 1,789,872 | ||||||||||
Exxon Mobil Corp. | 95,640 | 6,993,197 | ||||||||||
General Electric Co. | 202,725 | 3,707,840 | ||||||||||
Google, Inc. (Class A) (c) | 4,719 | 2,802,944 | ||||||||||
Hewlett-Packard Co. | 43,018 | 1,811,058 | ||||||||||
Intel Corp. | 105,432 | 2,217,235 | ||||||||||
International Business Machines Corp. | 23,539 | 3,454,584 | ||||||||||
Johnson & Johnson | 52,419 | 3,242,115 | ||||||||||
JPMorgan Chase & Co. | 74,157 | 3,145,740 | ||||||||||
Merck & Co., Inc. | 58,322 | 2,101,925 | ||||||||||
Microsoft Corp. | 144,368 | 4,030,754 | ||||||||||
Oracle Corp. | 72,780 | 2,278,014 | ||||||||||
PepsiCo, Inc. | 30,186 | 1,972,051 | ||||||||||
Pfizer, Inc. | 152,631 | 2,672,569 | ||||||||||
Philip Morris International, Inc. | 34,780 | 2,035,673 | ||||||||||
Procter & Gamble Co. | 53,069 | 3,413,929 | ||||||||||
The Coca-Cola Co. | 40,369 | 2,655,069 | ||||||||||
The Goldman Sachs Group, Inc. | 8,155 | 1,371,345 | ||||||||||
Verizon Communications, Inc. | 53,631 | 1,918,917 | ||||||||||
Wal-Mart Stores, Inc. | 38,332 | 2,067,245 | ||||||||||
74,116,835 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $130,590,064) | 122,086,848 | |||||||||||
SHORT TERM INVESTMENTS — 3.8% | ||||||||||||
MONEY MARKET FUNDS — 3.8% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 4,516,533 | 4,516,533 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (e)(f) | 162,231 | 162,231 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $4,678,764) | 4,678,764 | |||||||||||
TOTAL INVESTMENTS — 103.5% (g) | ||||||||||||
(Cost $135,268,828) | 126,765,612 | |||||||||||
OTHER ASSETS & LIABILITIES — (3.5)% | (4,293,275 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 122,472,337 | ||||||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Security purchased pursuant to Rule 144A of the Securities Act of 1933. This security, which represents 1.4% of net assets as of December 31, 2010, is considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||
(c) | Non-income producing security. | |||||
(d) | Investments of cash collateral for securities loaned. | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
ADR = American Depositary Receipt
GDR = Global Depositary Receipt
See accompanying notes to financial statements.
115
Table of Contents
SPDR Dow Jones REIT ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.6% | ||||||||||||
DIVERSIFIED REITS — 8.0% | ||||||||||||
Colonial Properties Trust (a) | 354,913 | $ | 6,406,180 | |||||||||
Cousins Properties, Inc. (a) | 413,784 | 3,450,958 | ||||||||||
Liberty Property Trust (a) | 517,374 | 16,514,578 | ||||||||||
PS Business Parks, Inc. | 87,371 | 4,868,312 | ||||||||||
Vornado Realty Trust | 824,184 | 68,679,253 | ||||||||||
Washington Real Estate Investment Trust (a) | 292,801 | 9,073,903 | ||||||||||
108,993,184 | ||||||||||||
INDUSTRIAL REITS — 6.1% | ||||||||||||
AMB Property Corp. (a) | 769,305 | 24,394,662 | ||||||||||
DCT Industrial Trust, Inc. (a) | 970,422 | 5,152,941 | ||||||||||
DuPont Fabros Technology, Inc. (a) | 272,246 | 5,790,672 | ||||||||||
EastGroup Properties, Inc. | 123,746 | 5,236,931 | ||||||||||
First Industrial Realty Trust, Inc. (a)(b) | 267,956 | 2,347,295 | ||||||||||
First Potomac Realty Trust (a) | 226,982 | 3,817,837 | ||||||||||
ProLogis | 2,603,060 | 37,588,186 | ||||||||||
84,328,524 | ||||||||||||
OFFICE REITS — 16.7% | ||||||||||||
Alexandria Real Estate Equities, Inc. (a) | 253,121 | 18,543,644 | ||||||||||
BioMed Realty Trust, Inc. | 597,824 | 11,149,418 | ||||||||||
Boston Properties, Inc. | 634,000 | 54,587,400 | ||||||||||
Brandywine Realty Trust | 614,328 | 7,156,921 | ||||||||||
CommonWealth REIT | 329,366 | 8,402,127 | ||||||||||
Corporate Office Properties Trust (a) | 298,893 | 10,446,310 | ||||||||||
Digital Realty Trust, Inc. (a) | 413,849 | 21,329,777 | ||||||||||
Douglas Emmett, Inc. (a) | 564,215 | 9,365,969 | ||||||||||
Duke Realty Corp. | 1,151,871 | 14,352,313 | ||||||||||
Franklin Street Properties Corp. (a) | 331,030 | 4,717,178 | ||||||||||
Highwoods Properties, Inc. (a) | 327,046 | 10,416,415 | ||||||||||
Kilroy Realty Corp. (a) | 238,944 | 8,714,288 | ||||||||||
Mack-Cali Realty Corp. | 361,798 | 11,961,042 | ||||||||||
Parkway Properties, Inc. (a) | 100,765 | 1,765,403 | ||||||||||
Piedmont Office Realty Trust, Inc. (Class A) (a) | 607,439 | 12,233,821 | ||||||||||
SL Green Realty Corp. (a) | 356,659 | 24,078,049 | ||||||||||
229,220,075 | ||||||||||||
RESIDENTIAL REITS — 17.6% | ||||||||||||
American Campus Communities, Inc. (a) | 305,068 | 9,688,960 | ||||||||||
Apartment Investment & Management Co. (Class A) | 533,865 | 13,795,072 | ||||||||||
AvalonBay Communities, Inc. | 389,624 | 43,852,181 | ||||||||||
BRE Properties, Inc. | 291,460 | 12,678,510 | ||||||||||
Camden Property Trust | 313,794 | 16,938,600 | ||||||||||
Education Realty Trust, Inc. | 269,390 | 2,093,160 | ||||||||||
Equity Lifestyle Properties, Inc. (a) | 140,898 | 7,880,425 | ||||||||||
Equity Residential | 1,294,318 | 67,239,820 | ||||||||||
Essex Property Trust, Inc. (a) | 143,335 | 16,371,724 | ||||||||||
Home Properties, Inc. (a) | 171,307 | 9,505,826 | ||||||||||
Mid-America Apartment Communities, Inc. | 156,190 | 9,916,503 | ||||||||||
Post Properties, Inc. (a) | 221,421 | 8,037,582 | ||||||||||
Sun Communities, Inc. (a) | 81,955 | 2,729,921 | ||||||||||
UDR, Inc. (a) | 833,256 | 19,598,181 | ||||||||||
240,326,465 | ||||||||||||
RETAIL REITS — 25.3% | ||||||||||||
Acadia Realty Trust (a) | 184,359 | 3,362,708 | ||||||||||
Alexander’s, Inc. (a) | 15,858 | 6,537,936 | ||||||||||
CBL & Associates Properties, Inc. (a) | 629,813 | 11,021,728 | ||||||||||
Cedar Shopping Centers, Inc. (a) | 236,094 | 1,485,031 | ||||||||||
Developers Diversified Realty Corp. (a) | 885,841 | 12,481,500 | ||||||||||
Equity One, Inc. (a) | 254,311 | 4,623,374 | ||||||||||
Federal Realty Investment Trust | 278,617 | 21,712,623 | ||||||||||
General Growth Properties, Inc. (b) | 1,757,500 | 27,206,100 | ||||||||||
Inland Real Estate Corp. (a) | 347,855 | 3,061,124 | ||||||||||
Kimco Realty Corp. (a) | 1,837,821 | 33,154,291 | ||||||||||
Kite Realty Group Trust (a) | 289,384 | 1,565,567 | ||||||||||
Pennsylvania Real Estate Investment Trust (a) | 254,494 | 3,697,798 | ||||||||||
Ramco-Gershenson Properties Trust (a) | 174,421 | 2,171,541 | ||||||||||
Regency Centers Corp. (a) | 373,670 | 15,783,821 | ||||||||||
Saul Centers, Inc. (a) | 35,463 | 1,679,173 | ||||||||||
Simon Property Group, Inc. | 1,339,520 | 133,268,845 | ||||||||||
Tanger Factory Outlet Centers, Inc. | 184,056 | 9,421,827 | ||||||||||
Taubman Centers, Inc. (a) | 249,426 | 12,591,024 | ||||||||||
The Macerich Co. (a) | 593,546 | 28,116,274 | ||||||||||
Weingarten Realty Investors (a) | 546,392 | 12,982,274 | ||||||||||
�� | ||||||||||||
345,924,559 | ||||||||||||
SPECIALIZED REITS — 25.9% | ||||||||||||
Ashford Hospitality Trust (a)(b) | 267,866 | 2,584,907 | ||||||||||
DiamondRock Hospitality Co. (a)(b) | 706,192 | 8,474,304 | ||||||||||
Extra Space Storage, Inc. (a) | 394,865 | 6,870,651 | ||||||||||
FelCor Lodging Trust, Inc. (b) | 446,001 | 3,139,847 | ||||||||||
HCP, Inc. | 1,658,518 | 61,016,877 | ||||||||||
Health Care REIT, Inc. | 663,343 | 31,601,661 | ||||||||||
Healthcare Realty Trust, Inc. (a) | 295,949 | 6,265,240 | ||||||||||
Hersha Hospitality Trust | 690,149 | 4,554,983 | ||||||||||
Hospitality Properties Trust | 563,659 | 12,986,703 | ||||||||||
Host Hotels & Resorts, Inc. | 3,011,057 | 53,807,589 | ||||||||||
LaSalle Hotel Properties | 318,874 | 8,418,274 | ||||||||||
Nationwide Health Properties, Inc. | 618,165 | 22,488,843 | ||||||||||
Public Storage | 645,108 | 65,426,853 | ||||||||||
Senior Housing Properties Trust | 580,082 | 12,726,999 | ||||||||||
Sovran Self Storage, Inc. | 126,278 | 4,648,293 | ||||||||||
Sunstone Hotel Investors, Inc. (b) | 540,934 | 5,587,848 | ||||||||||
U-Store-It Trust (a) | 388,427 | 3,701,709 | ||||||||||
Universal Health Realty Income Trust (a) | 53,653 | 1,959,944 |
See accompanying notes to financial statements.
116
Table of Contents
SPDR Dow Jones REIT ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Ventas, Inc. | 716,003 | $ | 37,575,838 | |||||||||
353,837,363 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $1,395,024,847) | 1,362,630,170 | |||||||||||
SHORT TERM INVESTMENTS — 9.4% | ||||||||||||
MONEY MARKET FUNDS — 9.4% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 126,544,636 | 126,544,636 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 1,606,198 | 1,606,198 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $128,150,834) | 128,150,834 | |||||||||||
TOTAL INVESTMENTS — 109.0% (f) | ||||||||||||
(Cost $1,523,175,681) | 1,490,781,004 | |||||||||||
OTHER ASSETS & LIABILITIES — (9.0)% | (123,474,495 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 1,367,306,509 | ||||||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Non-income producing security. | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
REIT = Real Estate Investment Trust
See accompanying notes to financial statements.
117
Table of Contents
SPDR KBW Bank ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.9% | ||||||||||||
ASSET MANAGEMENT & CUSTODY BANKS — 8.4% | ||||||||||||
Northern Trust Corp. (a) | 715,066 | $ | 39,621,807 | |||||||||
State Street Corp. (b) | 1,109,137 | 51,397,409 | ||||||||||
The Bank of New York Mellon Corp. | 2,456,379 | 74,182,646 | ||||||||||
165,201,862 | ||||||||||||
CONSUMER FINANCE — 3.5% | ||||||||||||
Capital One Financial Corp. | 1,605,159 | 68,315,567 | ||||||||||
DIVERSIFIED BANKS — 17.0% | ||||||||||||
Comerica, Inc. (a) | 1,861,358 | 78,623,762 | ||||||||||
U.S. Bancorp | 4,474,696 | 120,682,551 | ||||||||||
Wells Fargo & Co. | 4,443,462 | 137,702,887 | ||||||||||
337,009,200 | ||||||||||||
OTHER DIVERSIFIED FINANCIAL SERVICES — 22.6% | ||||||||||||
Bank of America Corp. | 10,435,406 | 139,208,316 | ||||||||||
Citigroup, Inc. (c) | 31,636,487 | 149,640,584 | ||||||||||
JPMorgan Chase & Co. | 3,723,958 | 157,970,298 | ||||||||||
446,819,198 | ||||||||||||
REGIONAL BANKS — 41.4% | ||||||||||||
BB&T Corp. (a) | 2,622,118 | 68,935,482 | ||||||||||
Commerce Bancshares, Inc. | 1,024,166 | 40,690,099 | ||||||||||
Cullen/Frost Bankers, Inc. (a) | 702,225 | 42,919,992 | ||||||||||
Fifth Third Bancorp (a) | 6,199,032 | 91,001,790 | ||||||||||
Huntington Bancshares, Inc. | 14,182,680 | 97,435,012 | ||||||||||
Keycorp | 7,428,267 | 65,740,163 | ||||||||||
M&T Bank Corp. (a) | 884,626 | 77,006,693 | ||||||||||
PNC Financial Services Group, Inc. | 1,268,700 | 77,035,464 | ||||||||||
Regions Financial Corp. (a) | 12,350,146 | 86,451,022 | ||||||||||
SunTrust Banks, Inc. (a) | 3,107,778 | 91,710,529 | ||||||||||
Zions Bancorporation (a) | 3,267,193 | 79,164,086 | ||||||||||
818,090,332 | ||||||||||||
THRIFTS & MORTGAGE FINANCE — 7.0% | ||||||||||||
First Niagara Financial Group, Inc. (a) | 2,019,451 | 28,231,925 | ||||||||||
New York Community Bancorp, Inc. (a) | 4,119,510 | 77,652,764 | ||||||||||
People’s United Financial, Inc. | 2,394,245 | 33,543,372 | ||||||||||
139,428,061 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $2,016,032,425) | 1,974,864,220 | |||||||||||
SHORT TERM INVESTMENTS — 9.6% | ||||||||||||
MONEY MARKET FUNDS — 9.6% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 187,562,073 | 187,562,073 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (e)(f) | 1,431,503 | 1,431,503 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $188,993,576) | 188,993,576 | |||||||||||
TOTAL INVESTMENTS — 109.5% (g) | ||||||||||||
(Cost $2,205,026,001) | 2,163,857,796 | |||||||||||
OTHER ASSETS & LIABILITIES — (9.5)% | (187,190,174 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 1,976,667,622 | ||||||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Affiliated issuer. (Note 3) | |||||
(c) | Non-income producing security. | |||||
(d) | Investments of cash collateral for securities loaned. | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
118
Table of Contents
SPDR KBW Capital Markets ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.8% | ||||||||||||
ASSET MANAGEMENT & CUSTODY BANKS — 28.8% | ||||||||||||
Franklin Resources, Inc. | 27,695 | $ | 3,079,961 | |||||||||
Janus Capital Group, Inc. | 265,012 | 3,437,205 | ||||||||||
Legg Mason, Inc. | 81,536 | 2,957,311 | ||||||||||
SEI Investments Co. | 125,529 | 2,986,335 | ||||||||||
State Street Corp. (a) | 127,515 | 5,909,045 | ||||||||||
T. Rowe Price Group, Inc. (b) | 58,059 | 3,747,128 | ||||||||||
22,116,985 | ||||||||||||
INVESTMENT BANKING & BROKERAGE — 52.4% | ||||||||||||
Greenhill & Co., Inc. | 19,262 | 1,573,320 | ||||||||||
Investment Technology Group, Inc. (c) | 93,925 | 1,537,552 | ||||||||||
Jefferies Group, Inc. | 127,442 | 3,393,781 | ||||||||||
Knight Capital Group, Inc. (Class A) (b)(c) | 137,454 | 1,895,491 | ||||||||||
Lazard, Ltd. (Class A) | 94,754 | 3,741,836 | ||||||||||
Morgan Stanley | 225,309 | 6,130,658 | ||||||||||
optionsXpress Holdings, Inc. (b) | 159,755 | 2,503,361 | ||||||||||
Piper Jaffray Co., Inc. (b)(c) | 28,211 | 987,667 | ||||||||||
Raymond James Financial, Inc. | 95,252 | 3,114,740 | ||||||||||
Stifel Financial Corp. (b)(c) | 38,211 | 2,370,611 | ||||||||||
TD Ameritrade Holding Corp. | 148,263 | 2,815,514 | ||||||||||
The Charles Schwab Corp. | 258,401 | 4,421,241 | ||||||||||
The Goldman Sachs Group, Inc. | 34,046 | 5,725,175 | ||||||||||
40,210,947 | ||||||||||||
SPECIALIZED FINANCE — 18.6% | ||||||||||||
CME Group, Inc. | 15,902 | 5,116,468 | ||||||||||
Interactive Brokers Group, Inc. (Class A) | 85,166 | 1,517,658 | ||||||||||
Intercontinental Exchange, Inc. (c) | 25,214 | 3,004,248 | ||||||||||
NYSE Euronext | 92,270 | 2,766,255 | ||||||||||
The NASDAQ OMX Group, Inc. (c) | 79,528 | 1,885,609 | ||||||||||
14,290,238 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $94,549,828) | 76,618,170 | |||||||||||
SHORT TERM INVESTMENTS — 6.9% | ||||||||||||
MONEY MARKET FUNDS — 6.9% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 4,317,432 | 4,317,432 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (e)(f) | 957,273 | 957,273 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $5,274,705) | 5,274,705 | |||||||||||
TOTAL INVESTMENTS — 106.7% (g) | ||||||||||||
(Cost $99,824,533) | 81,892,875 | |||||||||||
OTHER ASSETS & LIABILITIES — (6.7)% | (5,127,253 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 76,765,622 | ||||||||||
(a) | Affiliated issuer. (Note 3) | |||||
(b) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(c) | Non-income producing security. | |||||
(d) | Investments of cash collateral for securities loaned. | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
119
Table of Contents
SPDR KBW Insurance ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.9% | ||||||||||||
ASSET MANAGEMENT & CUSTODY BANKS — 4.6% | ||||||||||||
Ameriprise Financial, Inc. | 186,818 | $ | 10,751,376 | |||||||||
INSURANCE BROKERS — 8.3% | ||||||||||||
AON Corp. | 231,176 | 10,636,408 | ||||||||||
Marsh & McLennan Cos., Inc. | 320,515 | 8,762,880 | ||||||||||
19,399,288 | ||||||||||||
LIFE & HEALTH INSURANCE — 35.2% | ||||||||||||
AFLAC, Inc. | 305,807 | 17,256,689 | ||||||||||
Lincoln National Corp. | 332,458 | 9,245,657 | ||||||||||
MetLife, Inc. | 489,602 | 21,757,913 | ||||||||||
Principal Financial Group, Inc. | 320,917 | 10,449,057 | ||||||||||
Prudential Financial, Inc. | 258,594 | 15,182,054 | ||||||||||
Unum Group | 358,941 | 8,693,551 | ||||||||||
82,584,921 | ||||||||||||
MULTI-LINE INSURANCE — 11.1% | ||||||||||||
Assurant, Inc. | 169,040 | 6,511,421 | ||||||||||
Genworth Financial, Inc. (Class A) (a) | 771,107 | 10,132,346 | ||||||||||
Hartford Financial Services Group, Inc. | 358,126 | 9,486,757 | ||||||||||
26,130,524 | ||||||||||||
PROPERTY & CASUALTY INSURANCE — 29.5% | ||||||||||||
Axis Capital Holdings, Ltd. | 214,355 | 7,691,057 | ||||||||||
Chubb Corp. (b) | 142,400 | 8,492,736 | ||||||||||
Cincinnati Financial Corp. (b) | 218,549 | 6,925,818 | ||||||||||
Fidelity National Financial, Inc. (Class A) (b) | 286,483 | 3,919,088 | ||||||||||
MBIA, Inc. (a) | 633,680 | 7,597,823 | ||||||||||
The Allstate Corp. | 260,531 | 8,305,728 | ||||||||||
The Progressive Corp. | 397,277 | 7,893,894 | ||||||||||
The Travelers Cos., Inc. | 332,117 | 18,502,238 | ||||||||||
69,328,382 | ||||||||||||
REINSURANCE — 7.1% | ||||||||||||
Arch Capital Group, Ltd. (a) | 44,391 | 3,908,628 | ||||||||||
Everest Re Group, Ltd. | 51,384 | 4,358,391 | ||||||||||
XL Group PLC | 380,565 | 8,303,928 | ||||||||||
16,570,947 | ||||||||||||
THRIFTS & MORTGAGE FINANCE — 4.1% | ||||||||||||
MGIC Investment Corp. (a)(b) | 934,866 | 9,526,285 | ||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $236,651,612) | 234,291,723 | |||||||||||
SHORT TERM INVESTMENTS — 2.9% | ||||||||||||
MONEY MARKET FUNDS — 2.9% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 6,228,238 | 6,228,238 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 591,819 | 591,819 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $6,820,057) | 6,820,057 | |||||||||||
TOTAL INVESTMENTS — 102.8% (f) | ||||||||||||
(Cost $243,471,669) | 241,111,780 | |||||||||||
OTHER ASSETS & LIABILITIES — (2.8)% | (6,454,694 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 234,657,086 | ||||||||||
(a) | Non-income producing security. | |||||
(b) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
120
Table of Contents
SPDR KBW Mortgage Finance ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.9% | ||||||||||||
COMMERCIAL BANKS — 6.7% | ||||||||||||
Popular, Inc. (a) | 30,971 | $ | 97,249 | |||||||||
United Community Banks, Inc. (a)(b) | 22,551 | 43,974 | ||||||||||
141,223 | ||||||||||||
DIVERSIFIED FINANCIAL SERVICES — 5.3% | ||||||||||||
PHH Corp. (a)(b) | 4,800 | 111,120 | ||||||||||
HOUSEHOLD DURABLES — 33.0% | ||||||||||||
D.R. Horton, Inc. (b) | 12,614 | 150,485 | ||||||||||
KB HOME | 5,644 | 76,137 | ||||||||||
Lennar Corp. (Class A) (b) | 5,556 | 104,175 | ||||||||||
M.D.C. Holdings, Inc. (b) | 2,410 | 69,336 | ||||||||||
Meritage Homes Corp. (a)(b) | 3,693 | 81,985 | ||||||||||
Pulte Group, Inc. (a)(b) | 13,510 | 101,595 | ||||||||||
Ryland Group, Inc. (b) | 2,665 | 45,385 | ||||||||||
Toll Brothers, Inc. (a)(b) | 3,564 | 67,716 | ||||||||||
696,814 | ||||||||||||
INSURANCE — 13.4% | ||||||||||||
Fidelity National Financial, Inc. (Class A) (b) | 5,326 | 72,860 | ||||||||||
First American Financial Corp. (b) | 6,175 | 92,254 | ||||||||||
Old Republic International Corp. (b) | 8,633 | 117,668 | ||||||||||
282,782 | ||||||||||||
IT SERVICES — 5.7% | ||||||||||||
Lender Processing Services, Inc. (b) | 4,092 | 120,796 | ||||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 2.6% | ||||||||||||
Avatar Holdings, Inc. (a)(b) | 2,827 | 56,031 | ||||||||||
THRIFTS & MORTGAGE FINANCE — 33.2% | ||||||||||||
Astoria Financial Corp. (b) | 5,130 | 71,358 | ||||||||||
Capitol Federal Financial, Inc. | 13,639 | 162,441 | ||||||||||
Hudson City Bancorp, Inc. (b) | 10,625 | 135,363 | ||||||||||
MGIC Investment Corp. (a)(b) | 8,647 | 88,113 | ||||||||||
Ocwen Financial Corp. (a)(b) | 7,554 | 72,065 | ||||||||||
Radian Group, Inc. | 8,403 | 67,812 | ||||||||||
TFS Financial Corp. (b) | 3,834 | 34,583 | ||||||||||
Washington Federal, Inc. (b) | 4,119 | 69,693 | ||||||||||
701,428 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $2,271,191) | 2,110,194 | |||||||||||
SHORT TERM INVESTMENTS — 29.0% | ||||||||||||
MONEY MARKET FUNDS — 29.0% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 609,532 | 609,532 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 2,564 | 2,564 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $612,096) | 612,096 | |||||||||||
TOTAL INVESTMENTS — 128.9% (f) | ||||||||||||
(Cost $2,883,287) | 2,722,290 | |||||||||||
OTHER ASSETS & LIABILITIES — (28.9)% | (610,873 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 2,111,417 | ||||||||||
(a) | Non-income producing security. | |||||
(b) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
121
Table of Contents
SPDR KBW Regional Banking ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.8% | ||||||||||||
REGIONAL BANKS — 92.3% | ||||||||||||
Associated Ban-Corp. | 1,435,372 | $ | 21,745,886 | |||||||||
BancorpSouth, Inc. (a) | 566,564 | 9,036,696 | ||||||||||
Bank of Hawaii Corp. (a) | 347,524 | 16,406,608 | ||||||||||
BOK Financial Corp. (a) | 256,822 | 13,714,295 | ||||||||||
Boston Private Financial Holdings, Inc. (a) | 2,764,899 | 18,110,088 | ||||||||||
Cathay General Bancorp | 982,092 | 16,400,936 | ||||||||||
City Holding Co. (a) | 377,676 | 13,683,201 | ||||||||||
City National Corp. (a) | 302,139 | 18,539,249 | ||||||||||
Columbia Banking System, Inc. (a) | 815,926 | 17,183,402 | ||||||||||
Community Bank System, Inc. (a) | 710,070 | 19,718,644 | ||||||||||
CVB Financial Corp. (a) | 2,069,945 | 17,946,423 | ||||||||||
East West Bancorp, Inc. | 1,118,062 | 21,858,112 | ||||||||||
F.N.B. Corp. (a) | 2,288,988 | 22,477,862 | ||||||||||
First Commonwealth Financial Corp. (a) | 1,767,739 | 12,515,592 | ||||||||||
First Financial Bancorp. (a) | 1,057,580 | 19,544,078 | ||||||||||
First Horizon National Corp. (b) | 921,647 | 10,857,005 | ||||||||||
First Midwest Bancorp, Inc. | 1,526,015 | 17,579,693 | ||||||||||
FirstMerit Corp. | 982,076 | 19,435,284 | ||||||||||
Fulton Financial Corp. | 2,251,245 | 23,277,873 | ||||||||||
Glacier Bancorp, Inc. (a) | 861,252 | 13,013,518 | ||||||||||
Hancock Holding Co. (a) | 294,661 | 10,271,882 | ||||||||||
IBERIABANK Corp. | 226,631 | 13,400,691 | ||||||||||
MB Financial, Inc. (a) | 891,437 | 15,439,689 | ||||||||||
National Penn Bancshares, Inc. (a) | 1,888,609 | 15,165,530 | ||||||||||
Old National Bancorp (a) | 1,359,803 | 16,168,058 | ||||||||||
PacWest Bancorp (a) | 815,907 | 17,444,092 | ||||||||||
Pinnacle Financial Partners, Inc. (a)(b) | 1,080,318 | 14,670,718 | ||||||||||
PrivateBancorp, Inc. (a) | 740,329 | 10,645,931 | ||||||||||
Prosperity Bancshares, Inc. (a) | 355,062 | 13,946,835 | ||||||||||
S&T Bancorp, Inc. | 566,552 | 12,798,410 | ||||||||||
Signature Bank (b) | 317,303 | 15,865,150 | ||||||||||
Sterling Bancshares, Inc. (a) | 2,153,024 | 15,114,229 | ||||||||||
Susquehanna Bancshares, Inc. (a) | 1,707,260 | 16,526,277 | ||||||||||
SVB Financial Group (a)(b) | 377,758 | 20,040,062 | ||||||||||
Synovus Financial Corp. (a) | 6,421,339 | 16,952,335 | ||||||||||
TCF Financial Corp. (a) | 815,840 | 12,082,590 | ||||||||||
Texas Capital Bancshares, Inc. (a)(b) | 951,895 | 20,246,807 | ||||||||||
Trustmark Corp. (a) | 619,502 | 15,388,430 | ||||||||||
UMB Financial Corp. (a) | 264,414 | 10,952,028 | ||||||||||
Umpqua Holdings Corp. (a) | 1,435,357 | 17,482,648 | ||||||||||
United Bankshares, Inc. (a) | 528,771 | 15,440,113 | ||||||||||
Valley National Bancorp (a) | 1,125,567 | 16,095,608 | ||||||||||
Westamerica Bancorporation (a) | 203,983 | 11,314,937 | ||||||||||
Whitney Holding Corp. (a) | 1,556,190 | 22,020,089 | ||||||||||
Wilmington Trust Corp. | 1,148,263 | 4,983,461 | ||||||||||
Wintrust Financial Corp. (a) | 574,007 | 18,959,451 | ||||||||||
732,460,496 | ||||||||||||
THRIFTS & MORTGAGE FINANCE — 7.5% | ||||||||||||
Brookline Bancorp, Inc. | 1,269,137 | 13,770,136 | ||||||||||
Hudson City Bancorp, Inc. | 846,112 | 10,779,467 | ||||||||||
Provident Financial Services, Inc. (a) | 1,201,192 | 18,174,035 | ||||||||||
Webster Financial Corp. | 876,285 | 17,262,815 | ||||||||||
59,986,453 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $907,364,662) | 792,446,949 | |||||||||||
SHORT TERM INVESTMENTS — 13.7% | ||||||||||||
MONEY MARKET FUNDS — 13.7% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 108,326,494 | 108,326,494 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 195,316 | 195,316 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $108,521,810) | 108,521,810 | |||||||||||
TOTAL INVESTMENTS — 113.5% (f) | ||||||||||||
(Cost $1,015,886,472) | 900,968,759 | |||||||||||
OTHER ASSETS & LIABILITIES — (13.5)% | (107,443,905 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 793,524,854 | ||||||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Non-income producing security. | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
122
Table of Contents
SPDR Morgan Stanley Technology ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.9% | ||||||||||||
COMMUNICATIONS EQUIPMENT — 17.2% | ||||||||||||
Cisco Systems, Inc. (a) | 316,666 | $ | 6,406,153 | |||||||||
Juniper Networks, Inc. (a) | 169,236 | 6,248,193 | ||||||||||
Nokia Oyj ADR (b) | 620,712 | 6,405,748 | ||||||||||
QUALCOMM, Inc. | 125,256 | 6,198,919 | ||||||||||
Research In Motion, Ltd. (a) | 102,537 | 5,960,476 | ||||||||||
Telefonaktiebolaget LM Ericsson (Class B) ADR | 547,939 | 6,317,737 | ||||||||||
37,537,226 | ||||||||||||
COMPUTERS & PERIPHERALS — 17.1% | ||||||||||||
Apple, Inc. (a) | 19,228 | 6,202,184 | ||||||||||
Dell, Inc. (a) | 452,686 | 6,133,895 | ||||||||||
EMC Corp. (a) | 268,911 | 6,158,062 | ||||||||||
Hewlett-Packard Co. | 147,148 | 6,194,931 | ||||||||||
NetApp, Inc. (a) | 114,494 | 6,292,590 | ||||||||||
Seagate Technology (a) | 420,089 | 6,313,938 | ||||||||||
37,295,600 | ||||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 2.9% | ||||||||||||
Flextronics International, Ltd. (a) | 807,228 | 6,336,740 | ||||||||||
HOUSEHOLD DURABLES — 2.9% | ||||||||||||
Sony Corp, ADR (b) | 174,505 | 6,231,573 | ||||||||||
INTERNET & CATALOG RETAIL — 2.9% | ||||||||||||
Amazon.com, Inc. (a) | 34,740 | 6,253,200 | ||||||||||
INTERNET SOFTWARE & SERVICES — 8.4% | ||||||||||||
eBay, Inc. (a) | 207,356 | 5,770,717 | ||||||||||
Google, Inc. (Class A) (a) | 10,483 | 6,226,588 | ||||||||||
Yahoo!, Inc. (a)(b) | 378,346 | 6,291,894 | ||||||||||
18,289,199 | ||||||||||||
IT SERVICES — 11.3% | ||||||||||||
Accenture PLC (Class A) | 122,740 | 5,951,663 | ||||||||||
Automatic Data Processing, Inc. | 131,350 | 6,078,878 | ||||||||||
Infosys Technologies, Ltd. ADR | 83,643 | 6,363,559 | ||||||||||
International Business Machines Corp. | 42,591 | 6,250,655 | ||||||||||
24,644,755 | ||||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 17.2% | ||||||||||||
Analog Devices, Inc. | 165,024 | 6,216,454 | ||||||||||
Applied Materials, Inc. | 453,757 | 6,375,286 | �� | |||||||||
Broadcom Corp. (Class A) | 140,890 | 6,135,759 | ||||||||||
Intel Corp. | 287,785 | 6,052,119 | ||||||||||
NVIDIA Corp. (a) | 430,521 | 6,630,023 | ||||||||||
Texas Instruments, Inc. | 189,866 | 6,170,645 | ||||||||||
37,580,286 | ||||||||||||
SOFTWARE — 20.0% | ||||||||||||
Activision Blizzard, Inc. | 508,200 | 6,322,008 | ||||||||||
Adobe Systems, Inc. (a) | 214,525 | 6,603,080 | ||||||||||
Intuit, Inc. (a) | 124,660 | 6,145,738 | ||||||||||
Microsoft Corp. | 222,169 | 6,202,959 | ||||||||||
Oracle Corp. | 196,758 | 6,158,525 | ||||||||||
Salesforce.com, Inc. (a)(b) | 45,209 | 5,967,588 | ||||||||||
SAP AG ADR (b) | 123,545 | 6,252,612 | ||||||||||
43,652,510 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $215,575,727) | 217,821,089 | |||||||||||
SHORT TERM INVESTMENTS — 5.4% | ||||||||||||
MONEY MARKET FUNDS — 5.4% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 11,454,787 | 11,454,787 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 193,635 | 193,635 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $11,648,422) | 11,648,422 | |||||||||||
TOTAL INVESTMENTS — 105.3% (f) | ||||||||||||
(Cost $227,224,149) | 229,469,511 | |||||||||||
OTHER ASSETS & LIABILITIES — (5.3)% | (11,495,032 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 217,974,479 | ||||||||||
(a) | Non-income producing security. | |||||
(b) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(c) | Investment of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
ADR = American Depositary Receipt
See accompanying notes to financial statements.
123
Table of Contents
SPDR S&P Dividend ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.8% | ||||||||||||
BEVERAGES — 4.5% | ||||||||||||
Brown-Forman Corp. (Class B) (a) | 856,054 | $ | 59,598,479 | |||||||||
PepsiCo, Inc. | 1,315,757 | 85,958,405 | ||||||||||
The Coca-Cola Co. | 1,262,454 | 83,031,600 | ||||||||||
228,588,484 | ||||||||||||
CAPITAL MARKETS — 1.4% | ||||||||||||
Eaton Vance Corp. (a) | 2,333,226 | 70,533,422 | ||||||||||
CHEMICALS — 5.8% | ||||||||||||
Air Products & Chemicals, Inc. (a) | 754,685 | 68,638,601 | ||||||||||
PPG Industries, Inc. (a) | 1,036,074 | 87,102,741 | ||||||||||
RPM International, Inc. | 3,443,111 | 76,092,753 | ||||||||||
The Valspar Corp. | 1,678,112 | 57,861,302 | ||||||||||
289,695,397 | ||||||||||||
COMMERCIAL BANKS — 2.5% | ||||||||||||
Commerce Bancshares, Inc. (a) | 1,978,107 | 78,590,173 | ||||||||||
Westamerica Bancorporation (a) | 841,190 | 46,660,809 | ||||||||||
125,250,982 | ||||||||||||
COMMERCIAL SERVICES & SUPPLIES — 4.2% | ||||||||||||
Pitney Bowes, Inc. (a) | 8,681,854 | 209,927,230 | ||||||||||
COMPUTERS & PERIPHERALS — 1.0% | ||||||||||||
Diebold, Inc. (a) | 1,556,516 | 49,886,338 | ||||||||||
CONTAINERS & PACKAGING — 3.1% | ||||||||||||
Bemis Co., Inc. (a) | 2,667,517 | 87,121,105 | ||||||||||
Sonoco Products Co. | 2,010,746 | 67,701,818 | ||||||||||
154,822,923 | ||||||||||||
DISTRIBUTORS — 2.1% | ||||||||||||
Genuine Parts Co. | 2,025,688 | 103,998,822 | ||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 4.1% | ||||||||||||
CenturyLink, Inc. (a) | 4,437,385 | 204,874,065 | ||||||||||
ELECTRICAL EQUIPMENT — 1.5% | ||||||||||||
Emerson Electric Co. | 1,302,543 | 74,466,383 | ||||||||||
FOOD & STAPLES RETAILING — 2.5% | ||||||||||||
Wal-Mart Stores, Inc. (a) | 1,183,763 | 63,840,339 | ||||||||||
Walgreen Co. | 1,649,763 | 64,274,766 | ||||||||||
128,115,105 | ||||||||||||
FOOD PRODUCTS — 4.0% | ||||||||||||
Archer-Daniels-Midland Co. | 2,043,529 | 61,469,352 | ||||||||||
Hormel Foods Corp. (a) | 1,212,014 | 62,127,838 | ||||||||||
McCormick & Co., Inc. (a) | 1,655,210 | 77,016,921 | ||||||||||
200,614,111 | ||||||||||||
GAS UTILITIES — 7.2% | ||||||||||||
Atmos Energy Corp. (a) | 1,919,893 | 59,900,662 | ||||||||||
Northwest Natural Gas Co. (a) | 512,408 | 23,811,600 | ||||||||||
Piedmont Natural Gas Co., Inc. (a) | 1,703,319 | 47,624,799 | ||||||||||
Questar Corp. | 5,810,083 | 101,153,545 | ||||||||||
UGI Corp. | 2,558,368 | 80,793,261 | ||||||||||
WGL Holdings, Inc. (a) | 1,440,711 | 51,534,232 | ||||||||||
364,818,099 | ||||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 1.3% | ||||||||||||
Becton, Dickinson & Co. (a) | 772,961 | 65,330,664 | ||||||||||
HEALTH CARE PROVIDERS & SERVICES — 1.3% | ||||||||||||
Cardinal Health, Inc. | 1,763,654 | 67,565,585 | ||||||||||
HOTELS, RESTAURANTS & LEISURE — 1.7% | ||||||||||||
McDonald’s Corp. | 1,139,213 | 87,445,990 | ||||||||||
HOUSEHOLD DURABLES — 4.7% | ||||||||||||
Leggett & Platt, Inc. (a) | 7,214,585 | 164,203,955 | ||||||||||
Stanley Black & Decker, Inc. (a) | 1,098,498 | 73,456,561 | ||||||||||
237,660,516 | ||||||||||||
HOUSEHOLD PRODUCTS — 8.1% | ||||||||||||
Colgate-Palmolive Co. | 1,035,525 | 83,225,144 | ||||||||||
Kimberly-Clark Corp. | 1,972,867 | 124,369,536 | ||||||||||
Procter & Gamble Co. | 1,478,993 | 95,143,620 | ||||||||||
The Clorox Co. (a) | 1,648,340 | 104,306,955 | ||||||||||
407,045,255 | ||||||||||||
INDUSTRIAL CONGLOMERATES — 1.5% | ||||||||||||
3M Co. | 852,296 | 73,553,145 | ||||||||||
INSURANCE — 6.6% | ||||||||||||
AFLAC, Inc. | 1,295,071 | 73,080,856 | ||||||||||
Chubb Corp. | 1,303,451 | 77,737,818 | ||||||||||
Cincinnati Financial Corp. (a) | 4,852,859 | 153,787,102 | ||||||||||
Mercury General Corp. (a) | 651,488 | 28,020,499 | ||||||||||
332,626,275 | ||||||||||||
IT SERVICES — 1.9% | ||||||||||||
Automatic Data Processing, Inc. (a) | 2,074,963 | 96,029,288 | ||||||||||
MACHINERY — 2.7% | ||||||||||||
Dover Corp. | 1,048,147 | 61,264,192 | ||||||||||
Pentair, Inc. (a) | 2,009,752 | 73,376,046 | ||||||||||
134,640,238 | ||||||||||||
MEDIA — 1.6% | ||||||||||||
The McGraw-Hill Cos., Inc. (a) | 2,261,876 | 82,354,905 | ||||||||||
MULTI-UTILITIES — 6.0% | ||||||||||||
Black Hills Corp. (a) | 1,712,409 | 51,372,270 | ||||||||||
Consolidated Edison, Inc. (a) | 2,911,794 | 144,337,629 | ||||||||||
National Fuel Gas Co. (a) | 983,939 | 64,566,077 | ||||||||||
Vectren Corp. | 1,729,775 | 43,901,689 | ||||||||||
304,177,665 | ||||||||||||
OIL, GAS & CONSUMABLE FUELS — 3.8% | ||||||||||||
Chevron Corp. | 1,257,361 | 114,734,191 | ||||||||||
Exxon Mobil Corp. | 1,041,183 | 76,131,301 | ||||||||||
190,865,492 | ||||||||||||
PHARMACEUTICALS — 4.2% | ||||||||||||
Abbott Laboratories | 2,328,907 | 111,577,935 | ||||||||||
Johnson & Johnson | 1,631,998 | 100,939,076 | ||||||||||
212,517,011 | ||||||||||||
REAL ESTATE INVESTMENT TRUSTS — 5.4% | ||||||||||||
HCP, Inc. | 4,909,719 | 180,628,562 | ||||||||||
National Retail Properties, Inc. | 3,475,730 | 92,106,845 | ||||||||||
272,735,407 | ||||||||||||
See accompanying notes to financial statements.
124
Table of Contents
SPDR S&P Dividend ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
SPECIALTY RETAIL — 2.5% | ||||||||||||
Lowe’s Cos., Inc. | 2,444,172 | $ | 61,299,834 | |||||||||
The Sherwin-Williams Co. (a) | 749,259 | 62,750,441 | ||||||||||
124,050,275 | ||||||||||||
TEXTILES, APPAREL & LUXURY GOODS — 1.8% | ||||||||||||
V.F. Corp. (a) | 1,050,134 | 90,500,548 | ||||||||||
TOBACCO — 0.8% | ||||||||||||
Universal Corp. (a) | 995,399 | 40,512,739 | ||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $4,568,213,224) | 5,025,202,359 | |||||||||||
SHORT TERM INVESTMENTS — 9.6% | ||||||||||||
MONEY MARKET FUNDS — 9.6% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (b)(c) | 473,296,663 | 473,296,663 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (c)(d) | 12,261,187 | 12,261,187 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $485,557,850) | 485,557,850 | |||||||||||
TOTAL INVESTMENTS — 109.4% (e) | ||||||||||||
(Cost $5,053,771,074) | 5,510,760,209 | |||||||||||
OTHER ASSETS & LIABILITIES — (9.4)% | (473,647,475 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 5,037,112,734 | ||||||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Investments of cash collateral for securities loaned. | |||||
(c) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(d) | The rate shown is the annualized seven-day yield at period end. | |||||
(e) | Unless otherwise indicated, the value of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
125
Table of Contents
SPDR S&P Biotech ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 100.0% | ||||||||||||
BIOTECHNOLOGY — 100.0% | ||||||||||||
Acorda Therapeutics, Inc. (a) | 583,850 | $ | 15,915,751 | |||||||||
Alexion Pharmaceuticals, Inc. (a) | 209,818 | 16,900,840 | ||||||||||
Alkermes, Inc. (a) | 1,419,519 | 17,431,693 | ||||||||||
Amgen, Inc. (a) | 296,827 | 16,295,802 | ||||||||||
Amylin Pharmaceuticals, Inc. (a)(b) | 1,161,807 | 17,090,181 | ||||||||||
Biogen Idec, Inc. (a) | 241,271 | 16,177,221 | ||||||||||
BioMarin Pharmaceutical, Inc. (a)(b) | 586,899 | 15,805,190 | ||||||||||
Celgene Corp. (a) | 278,410 | 16,465,168 | ||||||||||
Cephalon, Inc. (a)(b) | 252,986 | 15,614,296 | ||||||||||
Cepheid, Inc. (a)(b) | 686,934 | 15,627,749 | ||||||||||
Cubist Pharmaceuticals, Inc. (a) | 737,590 | 15,784,426 | ||||||||||
Dendreon Corp. (a) | 424,916 | 14,838,067 | ||||||||||
Enzon Pharmaceuticals, Inc. (a) | 1,398,424 | 17,018,820 | ||||||||||
Genzyme Corp. (a) | 229,105 | 16,312,276 | ||||||||||
Gilead Sciences, Inc. (a) | 425,413 | 15,416,967 | ||||||||||
Human Genome Sciences, Inc. (a)(b) | 666,328 | 15,918,576 | ||||||||||
Incyte Corp. (a)(b) | 1,031,530 | 17,082,137 | ||||||||||
Isis Pharmaceuticals, Inc. (a)(b) | 1,661,350 | 16,812,862 | ||||||||||
Martek Biosciences Corp. (a)(b) | 711,367 | 22,265,787 | ||||||||||
Micromet, Inc. (a) | 2,091,343 | 16,981,705 | ||||||||||
Myriad Genetics, Inc. (a) | 701,112 | 16,013,398 | ||||||||||
Onyx Pharmaceuticals, Inc. (a) | 481,105 | 17,738,341 | ||||||||||
Pharmasset, Inc. (a)(b) | 327,388 | 14,211,913 | ||||||||||
Regeneron Pharmaceuticals, Inc. (a)(b) | 529,751 | �� | 17,391,725 | |||||||||
Savient Pharmaceuticals, Inc. (a)(b) | 1,344,395 | 14,976,560 | ||||||||||
Seattle Genetics, Inc. (a)(b) | 1,053,909 | 15,755,940 | ||||||||||
Talecris Biotherapeutics Holdings Corp. (a) | 717,754 | 16,723,668 | ||||||||||
Theravance, Inc. (a)(b) | 590,359 | 14,800,300 | ||||||||||
United Therapeutics Corp. (a)(b) | 252,965 | 15,992,447 | ||||||||||
Vertex Pharmaceuticals, Inc. (a) | 468,715 | 16,419,087 | ||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $473,292,769) | 491,778,893 | |||||||||||
SHORT TERM INVESTMENTS — 15.8% | ||||||||||||
MONEY MARKET FUNDS — 15.8% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 77,544,250 | 77,544,250 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 255,131 | 255,131 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $77,799,381) | 77,799,381 | |||||||||||
TOTAL INVESTMENTS — 115.8% (f) | ||||||||||||
(Cost $551,092,150) | 569,578,274 | |||||||||||
OTHER ASSETS & LIABILITIES — (15.8)% | (77,675,010 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 491,903,264 | ||||||||||
(a) | Non-income producing security. | |||||
(b) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
126
Table of Contents
SPDR S&P Homebuilders ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 100.0% | ||||||||||||
BUILDING PRODUCTS — 31.7% | ||||||||||||
A.O. Smith Corp. | 782,933 | $ | 29,814,089 | |||||||||
Ameron International Corp. (a) | 421,786 | 32,211,797 | ||||||||||
Armstrong World Industries, Inc. (a) | 848,972 | 36,505,796 | ||||||||||
Lennox International, Inc. | 719,511 | 34,025,675 | ||||||||||
Masco Corp. | 2,492,362 | 31,553,303 | ||||||||||
Owens Corning, Inc. (a)(b) | 1,172,915 | 36,536,302 | ||||||||||
Simpson Manufacturing Co., Inc. (a) | 1,186,617 | 36,678,331 | ||||||||||
USG Corp. (a)(b) | 2,301,889 | 38,740,792 | ||||||||||
276,066,085 | ||||||||||||
HOME FURNISHINGS — 12.0% | ||||||||||||
Leggett & Platt, Inc. | 1,520,372 | 34,603,667 | ||||||||||
Mohawk Industries, Inc. (a)(b) | 581,415 | 33,001,115 | ||||||||||
Tempur-Pedic International, Inc. (b) | 909,189 | 36,422,111 | ||||||||||
104,026,893 | ||||||||||||
HOME FURNISHING RETAIL — 15.7% | ||||||||||||
Aaron’s, Inc. (a) | 1,633,038 | 33,297,645 | ||||||||||
Bed Bath & Beyond, Inc. (b) | 721,162 | 35,445,112 | ||||||||||
Pier 1 Imports, Inc. (a)(b) | 3,199,440 | 33,594,120 | ||||||||||
Williams-Sonoma, Inc. (a) | 968,463 | 34,564,445 | ||||||||||
136,901,322 | ||||||||||||
HOME IMPROVEMENT RETAIL — 7.8% | ||||||||||||
Lowe’s Cos., Inc. | 1,337,105 | 33,534,593 | ||||||||||
The Home Depot, Inc. | 980,324 | 34,370,160 | ||||||||||
67,904,753 | ||||||||||||
HOMEBUILDING — 32.8% | ||||||||||||
D.R. Horton, Inc. (a) | 3,027,083 | 36,113,100 | ||||||||||
KB HOME (a) | 2,672,085 | 36,046,427 | ||||||||||
Lennar Corp. (Class A) (a) | 1,906,254 | 35,742,263 | ||||||||||
M.D.C. Holdings, Inc. (a) | 1,268,735 | 36,501,506 | ||||||||||
NVR, Inc. (b) | 50,351 | 34,793,548 | ||||||||||
Pulte Group, Inc. (a)(b) | 4,803,717 | 36,123,952 | ||||||||||
Ryland Group, Inc. (a) | 2,081,577 | 35,449,256 | ||||||||||
Toll Brothers, Inc. (a)(b) | 1,802,425 | 34,246,075 | ||||||||||
285,016,127 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $886,802,809) | 869,915,180 | |||||||||||
SHORT TERM INVESTMENTS — 12.2% | ||||||||||||
MONEY MARKET FUNDS — 12.2% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 106,342,200 | 106,342,200 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 182,238 | 182,238 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $106,524,438) | 106,524,438 | |||||||||||
TOTAL INVESTMENTS — 112.2% (f) | ||||||||||||
(Cost $993,327,247) | 976,439,618 | |||||||||||
OTHER ASSETS & LIABILITIES — (12.2)% | (106,063,437 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 870,376,181 | ||||||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Non-income producing security. | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
127
Table of Contents
SPDR S&P Metals & Mining ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.9% | ||||||||||||
ALUMINUM — 7.6% | ||||||||||||
Alcoa, Inc. | 3,080,476 | $ | 47,408,525 | |||||||||
Century Aluminum Co. (a)(b) | 2,740,145 | 42,554,452 | ||||||||||
89,962,977 | ||||||||||||
COAL & CONSUMABLE FUELS — 23.2% | ||||||||||||
Alpha Natural Resources, Inc. (b) | 830,278 | 49,841,588 | ||||||||||
Arch Coal, Inc. | 1,367,109 | 47,930,842 | ||||||||||
Consol Energy, Inc. | 997,901 | 48,637,695 | ||||||||||
International Coal Group, Inc. (b) | 5,194,938 | 40,208,820 | ||||||||||
Massey Energy Co. | 844,546 | 45,309,893 | ||||||||||
Peabody Energy Corp. | 708,305 | 45,317,354 | ||||||||||
277,246,192 | ||||||||||||
DIVERSIFIED METALS & MINING — 15.2% | ||||||||||||
Compass Minerals International, Inc. (a) | 489,572 | 43,704,092 | ||||||||||
Freeport-McMoRan Copper & Gold, Inc. | 388,975 | 46,712,008 | ||||||||||
Titanium Metals Corp. (b) | 2,478,726 | 42,584,513 | ||||||||||
Walter Energy, Inc. | 374,477 | 47,873,140 | ||||||||||
180,873,753 | ||||||||||||
GOLD — 7.4% | ||||||||||||
Newmont Mining Corp. | 714,665 | 43,901,871 | ||||||||||
Royal Gold, Inc. | 817,424 | 44,655,873 | ||||||||||
88,557,744 | ||||||||||||
PRECIOUS METALS & MINERALS — 11.6% | ||||||||||||
Coeur d’Alene Mines Corp. (a)(b) | 1,659,006 | 45,324,044 | ||||||||||
Hecla Mining Co. (a)(b) | 4,110,191 | 46,280,750 | ||||||||||
Stillwater Mining Co. (b) | 2,187,222 | 46,697,190 | ||||||||||
138,301,984 | ||||||||||||
STEEL — 34.9% | ||||||||||||
AK Steel Holding Corp. (a) | 3,010,736 | 49,285,748 | ||||||||||
Allegheny Technologies, Inc. (a) | 822,165 | 45,367,065 | ||||||||||
Carpenter Technology Corp. | 1,140,779 | 45,904,947 | ||||||||||
Cliffs Natural Resources, Inc. | 590,565 | 46,069,976 | ||||||||||
Commercial Metals Co. (a) | 2,589,804 | 42,964,848 | ||||||||||
Nucor Corp. (a) | 1,048,201 | 45,932,168 | ||||||||||
Reliance Steel & Aluminum Co. | 886,488 | 45,299,537 | ||||||||||
Steel Dynamics, Inc. (a) | 2,625,379 | 48,044,436 | ||||||||||
United States Steel Corp. (a) | 818,749 | 47,831,316 | ||||||||||
416,700,041 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $1,106,105,339) | 1,191,642,691 | |||||||||||
SHORT TERM INVESTMENTS — 8.5% | ||||||||||||
MONEY MARKET FUNDS — 8.5% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 100,826,120 | 100,826,120 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 1,196,936 | 1,196,936 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $102,023,056) | 102,023,056 | |||||||||||
TOTAL INVESTMENTS — 108.4% (f) | ||||||||||||
(Cost $1,208,128,395) | 1,293,665,747 | |||||||||||
OTHER ASSETS & LIABILITIES — (8.4)% | (100,257,671 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 1,193,408,076 | ||||||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Non-income producing security. | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
128
Table of Contents
SPDR S&P Oil & Gas Equipment & Services ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.9% | ||||||||||||
OIL & GAS DRILLING — 35.5% | ||||||||||||
Atwood Oceanics, Inc. (a)(b) | 470,256 | $ | 17,573,467 | |||||||||
Diamond Offshore Drilling, Inc. (a) | 269,149 | 17,997,994 | ||||||||||
Helmerich & Payne, Inc. (a) | 369,203 | 17,898,961 | ||||||||||
Nabors Industries, Ltd. (b) | 770,345 | 18,072,294 | ||||||||||
Noble Corp. (a) | 508,341 | 18,183,358 | ||||||||||
Patterson-UTI Energy, Inc. | 806,300 | 17,375,765 | ||||||||||
Pride International, Inc. (b) | 549,622 | 18,137,526 | ||||||||||
Rowan Cos., Inc. (b) | 524,563 | 18,312,494 | ||||||||||
Transocean, Ltd. (a)(b) | 244,097 | 16,967,182 | ||||||||||
160,519,041 | ||||||||||||
OIL & GAS EQUIPMENT & SERVICES — 64.4% | ||||||||||||
Baker Hughes, Inc. | 326,853 | 18,686,186 | ||||||||||
Cameron International Corp. (b) | 357,139 | 18,117,661 | ||||||||||
Core Laboratories NV | 198,215 | 17,651,046 | ||||||||||
Dresser-Rand Group, Inc. (b) | 432,553 | 18,422,432 | ||||||||||
Dril-Quip, Inc. (a)(b) | 217,344 | 16,891,976 | ||||||||||
FMC Technologies, Inc. (b) | 200,697 | 17,843,970 | ||||||||||
Halliburton Co. | 438,176 | 17,890,726 | ||||||||||
McDermott International, Inc. (b) | 881,721 | 18,242,807 | ||||||||||
National-Oilwell Varco, Inc. | 281,275 | 18,915,744 | ||||||||||
Oceaneering International, Inc. (b) | 245,774 | 18,096,340 | ||||||||||
Oil States International, Inc. (b) | 279,946 | 17,941,739 | ||||||||||
Schlumberger, Ltd. | 216,141 | 18,047,774 | ||||||||||
SEACOR Holdings, Inc. | 176,743 | 17,866,950 | ||||||||||
Superior Energy Services, Inc. (b) | 509,375 | 17,823,031 | ||||||||||
Tidewater, Inc. (a) | 345,923 | 18,624,494 | ||||||||||
Weatherford International, Ltd. (b) | 851,837 | 19,421,884 | ||||||||||
290,484,760 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $380,768,896) | 451,003,801 | |||||||||||
SHORT TERM INVESTMENTS — 4.7% | ||||||||||||
MONEY MARKET FUNDS — 4.7% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 19,256,971 | 19,256,971 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 1,794,494 | 1,794,494 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $21,051,465) | 21,051,465 | |||||||||||
TOTAL INVESTMENTS — 104.6% (f) | ||||||||||||
(Cost $401,820,361) | 472,055,266 | |||||||||||
OTHER ASSETS & LIABILITIES — (4.6)% | (20,831,641 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 451,223,625 | ||||||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Non-income producing security. | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
129
Table of Contents
SPDR S&P Oil & Gas Exploration & Production ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 100.0% | ||||||||||||
INTEGRATED OIL & GAS — 10.8% | ||||||||||||
Chevron Corp. | 219,027 | $ | 19,986,214 | |||||||||
ConocoPhillips | 295,166 | 20,100,805 | ||||||||||
Exxon Mobil Corp. | 264,000 | 19,303,680 | ||||||||||
Occidental Petroleum Corp. | 204,823 | 20,093,136 | ||||||||||
79,483,835 | ||||||||||||
OIL & GAS EXPLORATION & PRODUCTION — 72.7% | ||||||||||||
Anadarko Petroleum Corp. | 276,156 | 21,032,041 | ||||||||||
Apache Corp. | 165,842 | 19,773,342 | ||||||||||
Atlas Energy, Inc. (a) | 438,260 | 19,270,292 | ||||||||||
Brigham Exploration Co. (a) | 709,794 | 19,334,788 | ||||||||||
Cabot Oil & Gas Corp. | 539,024 | 20,402,058 | ||||||||||
Chesapeake Energy Corp. (b) | 831,524 | 21,544,787 | ||||||||||
Cimarex Energy Co. | 222,326 | 19,682,521 | ||||||||||
Concho Resources, Inc. (a) | 227,835 | 19,974,294 | ||||||||||
Continental Resources, Inc. (a)(b) | 326,952 | 19,241,125 | ||||||||||
Denbury Resources, Inc. (a) | 969,862 | 18,514,666 | ||||||||||
Devon Energy Corp. | 260,034 | 20,415,269 | ||||||||||
EOG Resources, Inc. | 210,021 | 19,198,020 | ||||||||||
EQT Corp. | 442,735 | 19,852,237 | ||||||||||
EXCO Resources, Inc. | 1,029,626 | 19,995,337 | ||||||||||
Forest Oil Corp. (a) | 549,122 | 20,850,162 | ||||||||||
Newfield Exploration Co. (a) | 263,334 | 18,989,015 | ||||||||||
Noble Energy, Inc. | 231,274 | 19,908,066 | ||||||||||
Petrohawk Energy Corp. (a) | 1,002,055 | 18,287,504 | ||||||||||
Pioneer Natural Resources Co. (b) | 226,099 | 19,629,915 | ||||||||||
Plains Exploration & Production Co. (a) | 624,861 | 20,083,032 | ||||||||||
QEP Resources, Inc. | 514,089 | 18,666,572 | ||||||||||
Range Resources Corp. (b) | 449,940 | 20,238,301 | ||||||||||
Rosetta Resources, Inc. (a) | 524,717 | 19,750,348 | ||||||||||
SM Energy Co. | 351,282 | 20,701,048 | ||||||||||
Southwestern Energy Co. (a) | 534,648 | 20,011,875 | ||||||||||
Ultra Petroleum Corp. (a)(b) | 396,358 | 18,934,022 | ||||||||||
Whiting Petroleum Corp. (a) | 167,784 | 19,662,607 | ||||||||||
533,943,244 | ||||||||||||
OIL & GAS REFINING & MARKETING — 16.5% | ||||||||||||
Frontier Oil Corp. (a) | 1,111,279 | 20,014,135 | ||||||||||
Holly Corp. (b) | 496,285 | 20,233,539 | ||||||||||
Sunoco, Inc. | 475,979 | 19,186,714 | ||||||||||
Tesoro Corp. (a)(b) | 1,094,088 | 20,284,392 | ||||||||||
Valero Energy Corp. | 881,545 | 20,381,320 | ||||||||||
World Fuel Services Corp. (b) | 588,259 | 21,271,445 | ||||||||||
121,371,545 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $718,976,349) | 734,798,624 | |||||||||||
SHORT TERM INVESTMENTS — 5.9% | ||||||||||||
MONEY MARKET FUNDS — 5.9% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 41,854,886 | 41,854,886 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 1,582,950 | 1,582,950 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $43,437,836) | 43,437,836 | |||||||||||
TOTAL INVESTMENTS — 105.9% (f) | ||||||||||||
(Cost $762,414,185) | 778,236,460 | |||||||||||
OTHER ASSETS & LIABILITIES — (5.9)% | (43,015,239 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 735,221,221 | ||||||||||
(a) | Non-income producing security. | |||||
(b) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
130
Table of Contents
SPDR S&P Pharmaceuticals ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 100.0% | ||||||||||||
PHARMACEUTICALS — 100.0% | ||||||||||||
Abbott Laboratories | 181,818 | $ | 8,710,900 | |||||||||
Allergan, Inc. | 124,992 | 8,583,201 | ||||||||||
Auxilium Pharmaceuticals, Inc. (a)(b) | 431,400 | 9,102,540 | ||||||||||
Bristol-Myers Squibb Co. | 332,496 | 8,804,494 | ||||||||||
Eli Lilly & Co. | 247,518 | 8,673,031 | ||||||||||
Endo Pharmaceuticals Holdings, Inc. (b) | 237,601 | 8,484,732 | ||||||||||
Forest Laboratories, Inc. (b) | 264,939 | 8,472,749 | ||||||||||
Hospira, Inc. (b) | 153,869 | 8,568,965 | ||||||||||
Impax Laboratories, Inc. (b) | 453,071 | 9,111,258 | ||||||||||
Johnson & Johnson | 139,851 | 8,649,784 | ||||||||||
Medicis Pharmaceutical Corp. (Class A) (a) | 315,647 | 8,456,183 | ||||||||||
Merck & Co., Inc. | 240,572 | 8,670,215 | ||||||||||
Mylan, Inc. (b) | 429,900 | 9,083,787 | ||||||||||
Nektar Therapeutics (a)(b) | 615,803 | 7,913,069 | ||||||||||
Par Pharmaceutical Cos., Inc. (b) | 227,847 | 8,774,388 | ||||||||||
Perrigo Co. (a) | 131,066 | 8,300,410 | ||||||||||
Pfizer, Inc. | 508,707 | 8,907,460 | ||||||||||
Questcor Pharmaceuticals, Inc. (a)(b) | 571,121 | 8,412,612 | ||||||||||
Salix Pharmaceuticals, Ltd. (a)(b) | 197,180 | 9,259,573 | ||||||||||
The Medicines Co. (b) | 619,327 | 8,751,090 | ||||||||||
ViroPharma, Inc. (b) | 512,623 | 8,878,630 | ||||||||||
VIVUS, Inc. (a)(b) | 921,085 | 8,630,566 | ||||||||||
Warner Chilcott PLC | 406,297 | 9,166,060 | ||||||||||
Watson Pharmaceuticals, Inc. (b) | 175,267 | 9,052,541 | ||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $189,215,587) | 209,418,238 | |||||||||||
SHORT TERM INVESTMENTS — 5.4% | ||||||||||||
MONEY MARKET FUNDS — 5.4% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 11,344,263 | 11,344,263 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 56,769 | 56,769 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $11,401,032) | 11,401,032 | |||||||||||
TOTAL INVESTMENTS — 105.4% (f) | ||||||||||||
(Cost $200,616,619) | 220,819,270 | |||||||||||
OTHER ASSETS & LIABILITIES — (5.4)% | (11,298,800 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 209,520,470 | ||||||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Non-income producing security. | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
131
Table of Contents
SPDR S&P Retail ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.7% | ||||||||||||
APPAREL RETAIL — 32.1% | ||||||||||||
Abercrombie & Fitch Co. (Class A) | 270,495 | $ | 15,588,627 | |||||||||
Aeropostale, Inc. (a) | 621,073 | 15,303,239 | ||||||||||
American Eagle Outfitters, Inc. | 981,300 | 14,356,419 | ||||||||||
AnnTaylor Stores Corp. (a)(b) | 565,199 | 15,480,801 | ||||||||||
Ascena Retail Group, Inc. (a) | 577,943 | 15,269,254 | ||||||||||
Chico’s FAS, Inc. | 1,227,049 | 14,761,399 | ||||||||||
Collective Brands, Inc. (a)(b) | 723,791 | 15,271,990 | ||||||||||
Foot Locker, Inc. | 784,121 | 15,384,454 | ||||||||||
Genesco, Inc. (a) | 405,525 | 15,203,132 | ||||||||||
Guess ?, Inc. | 315,270 | 14,918,576 | ||||||||||
J. Crew Group, Inc. (a) | 345,592 | 14,908,839 | ||||||||||
Jos. A. Bank Clothiers, Inc. (a)(b) | 371,627 | 14,984,001 | ||||||||||
Limited Brands, Inc. | 480,098 | 14,753,412 | ||||||||||
Ross Stores, Inc. | 232,689 | 14,717,579 | ||||||||||
The Buckle, Inc. (b) | 391,777 | 14,797,417 | ||||||||||
The Children’s Place Retail Stores, Inc. (a)(b) | 286,480 | 14,220,867 | ||||||||||
The Finish Line, Inc. (Class A) | 790,250 | 13,584,397 | ||||||||||
The Gap, Inc. | 704,851 | 15,605,401 | ||||||||||
The Men’s Wearhouse, Inc. (b) | 608,580 | 15,202,328 | ||||||||||
The TJX Cos., Inc. | 335,930 | 14,911,933 | ||||||||||
Urban Outfitters, Inc. (a) | 407,017 | 14,575,279 | ||||||||||
313,799,344 | ||||||||||||
AUTOMOTIVE RETAIL — 10.8% | ||||||||||||
Advance Auto Parts, Inc. | 222,853 | 14,741,726 | ||||||||||
AutoNation, Inc. (a)(b) | 571,338 | 16,111,732 | ||||||||||
AutoZone, Inc. (a) | 57,194 | 15,590,512 | ||||||||||
CarMax, Inc. (a)(b) | 438,602 | 13,982,632 | ||||||||||
Group 1 Automotive, Inc. | 362,905 | 15,154,913 | ||||||||||
Monro Muffler Brake, Inc. (b) | 431,052 | 14,910,089 | ||||||||||
O’Reilly Automotive, Inc. (a) | 246,425 | 14,888,998 | ||||||||||
105,380,602 | ||||||||||||
CATALOG RETAIL — 1.6% | ||||||||||||
HSN, Inc. (a)(b) | 501,706 | 15,372,272 | ||||||||||
COMPUTER & ELECTRONICS RETAIL — 6.0% | ||||||||||||
Best Buy Co., Inc. | 362,218 | 12,420,455 | ||||||||||
GameStop Corp. (Class A) (a)(b) | 680,776 | 15,576,155 | ||||||||||
RadioShack Corp. (b) | 782,096 | 14,460,955 | ||||||||||
Rent-A-Center, Inc. | 499,238 | 16,115,403 | ||||||||||
58,572,968 | ||||||||||||
DEPARTMENT STORES — 7.8% | ||||||||||||
J.C. Penney Co., Inc. | 445,862 | 14,405,801 | ||||||||||
Kohl’s Corp. (a) | 282,303 | 15,340,345 | ||||||||||
Macy’s, Inc. | 594,011 | 15,028,479 | ||||||||||
Nordstrom, Inc. | 359,008 | 15,214,759 | ||||||||||
Sears Holdings Corp. (a)(b) | 222,092 | 16,379,285 | ||||||||||
76,368,669 | ||||||||||||
DRUG RETAIL — 3.2% | ||||||||||||
CVS Caremark Corp. | 450,014 | 15,646,987 | ||||||||||
Walgreen Co. | 415,630 | 16,192,945 | ||||||||||
31,839,932 | ||||||||||||
FOOD RETAIL — 8.1% | ||||||||||||
Ruddick Corp. (b) | 396,266 | 14,598,440 | ||||||||||
Safeway, Inc. (b) | 705,913 | 15,875,983 | ||||||||||
SUPERVALU, Inc. (b) | 1,740,374 | 16,759,802 | ||||||||||
The Kroger Co. | 733,245 | 16,395,358 | ||||||||||
Whole Foods Market, Inc. (a)(b) | 305,873 | 15,474,115 | ||||||||||
79,103,698 | ||||||||||||
GENERAL MERCHANDISE STORES — 4.7% | ||||||||||||
Dollar Tree, Inc. (a) | 267,220 | 14,985,697 | ||||||||||
Family Dollar Stores, Inc. | 304,276 | 15,125,560 | ||||||||||
Target Corp. | 256,845 | 15,444,090 | ||||||||||
45,555,347 | ||||||||||||
HYPERMARKETS & SUPER CENTERS — 3.1% | ||||||||||||
Costco Wholesale Corp. | 212,529 | 15,346,719 | ||||||||||
Wal-Mart Stores, Inc. | 278,940 | 15,043,234 | ||||||||||
30,389,953 | ||||||||||||
INTERNET RETAIL — 4.5% | ||||||||||||
Amazon.com, Inc. (a) | 86,219 | 15,519,420 | ||||||||||
Netflix, Inc. (a)(b) | 77,874 | 13,682,462 | ||||||||||
Priceline.com, Inc. (a) | 36,068 | 14,410,969 | ||||||||||
43,612,851 | ||||||||||||
SPECIALTY STORES — 17.8% | ||||||||||||
Dick’s Sporting Goods, Inc. (a)(b) | 417,205 | 15,645,187 | ||||||||||
Jo-Ann Stores, Inc. (a)(b) | 328,053 | 19,755,352 | ||||||||||
Office Depot, Inc. (a) | 3,109,154 | 16,789,432 | ||||||||||
OfficeMax, Inc. (a)(b) | 834,712 | 14,774,402 | ||||||||||
PetSmart, Inc. | 384,486 | 15,310,232 | ||||||||||
Sally Beauty Holdings, Inc. (a) | 1,038,505 | 15,089,478 | ||||||||||
Signet Jewelers, Ltd. (a) | 360,973 | 15,666,228 | ||||||||||
Staples, Inc. | 683,634 | 15,566,346 | ||||||||||
Tiffany & Co. | 237,784 | 14,806,810 | ||||||||||
Tractor Supply Co. (b) | 317,620 | 15,401,394 | ||||||||||
Ulta Salon Cosmetics & Fragrance, Inc. (a) | 436,230 | 14,831,820 | ||||||||||
173,636,681 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $984,977,654) | 973,632,317 | |||||||||||
SHORT TERM INVESTMENTS — 7.1% | ||||||||||||
MONEY MARKET FUNDS — 7.1% | ||||||||||||
State Street Navigator Security Lending Prime Portfolio (c)(d) | 66,607,568 | 66,607,568 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 2,747,592 | 2,747,592 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $69,355,160) | 69,355,160 | |||||||||||
See accompanying notes to financial statements.
132
Table of Contents
SPDR S&P Retail ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Value | |||||||||||
TOTAL INVESTMENTS — 106.8% (f) | ||||||||||||
(Cost $1,054,332,814) | $ | 1,042,987,477 | ||||||||||
OTHER ASSETS & LIABILITIES — (6.8)% | (66,304,560 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 976,682,917 | ||||||||||
(a) | Non-income producing security. | |||||
(b) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
133
Table of Contents
SPDR S&P Semiconductor ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.7% | ||||||||||||
SEMICONDUCTORS — 99.7% | ||||||||||||
Advanced Micro Devices, Inc. (a) | 507,041 | $ | 4,147,595 | |||||||||
Altera Corp. (b) | 110,074 | 3,916,433 | ||||||||||
Analog Devices, Inc. | 108,366 | 4,082,147 | ||||||||||
Atheros Communications, Inc. (a) | 116,783 | 4,194,845 | ||||||||||
Atmel Corp. (a) | 329,712 | 4,062,052 | ||||||||||
Broadcom Corp. (Class A) | 88,875 | 3,870,506 | ||||||||||
Cree, Inc. (a) | 56,745 | 3,738,928 | ||||||||||
Cypress Semiconductor Corp. (a) | 226,770 | 4,213,387 | ||||||||||
First Solar, Inc. (a)(b) | 29,662 | 3,860,213 | ||||||||||
Intel Corp. | 186,795 | 3,928,299 | ||||||||||
International Rectifier Corp. (a) | 134,172 | 3,983,567 | ||||||||||
Linear Technology Corp. (b) | 118,165 | 4,087,327 | ||||||||||
LSI Corp. (a) | 683,098 | 4,091,757 | ||||||||||
Marvell Technology Group, Ltd. (a) | 209,262 | 3,881,810 | ||||||||||
Maxim Integrated Products, Inc. | 166,299 | 3,927,982 | ||||||||||
Microchip Technology, Inc. (b) | 116,395 | 3,981,873 | ||||||||||
Micron Technology, Inc. (a) | 495,327 | 3,972,522 | ||||||||||
National Semiconductor Corp. | 296,286 | 4,076,895 | ||||||||||
NVIDIA Corp. (a) | 273,709 | 4,215,119 | ||||||||||
ON Semiconductor Corp. (a) | 442,810 | 4,374,963 | ||||||||||
Rambus, Inc. (a)(b) | 199,087 | 4,077,302 | ||||||||||
RF Micro Devices, Inc. (a) | 520,542 | 3,825,984 | ||||||||||
Silicon Laboratories, Inc. (a) | 87,328 | 4,018,835 | ||||||||||
Skyworks Solutions, Inc. (a) | 145,949 | 4,178,520 | ||||||||||
Texas Instruments, Inc. | 124,756 | 4,054,570 | ||||||||||
TriQuint Semiconductor, Inc. (a) | 333,234 | 3,895,505 | ||||||||||
Xilinx, Inc. (b) | 142,867 | 4,140,286 | ||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $111,699,009) | 108,799,222 | |||||||||||
SHORT TERM INVESTMENTS — 6.4% | ||||||||||||
MONEY MARKET FUNDS — 6.4% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 6,612,265 | 6,612,265 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 385,063 | 385,063 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $6,997,328) | 6,997,328 | |||||||||||
TOTAL INVESTMENTS — 106.1% (f) | ||||||||||||
(Cost $118,696,337) | 115,796,550 | |||||||||||
OTHER ASSETS & LIABILITIES — (6.1)% | (6,616,191 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 109,180,359 | ||||||||||
(a) | Non-income producing security. | |||||
(b) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 input. (Note 2) |
See accompanying notes to financial statements.
134
Table of Contents
SPDR Wells Fargo Preferred Stock ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
PREFERRED STOCKS — 99.8% | ||||||||||||
CAPITAL MARKETS — 9.1% | ||||||||||||
Morgan Stanley Capital Trust III, 6.25% | 38,507 | $ | 863,327 | |||||||||
Morgan Stanley Capital Trust IV, 6.25% (a) | 27,056 | 616,877 | ||||||||||
Morgan Stanley Capital Trust V, 5.75% (a) | 21,861 | 478,100 | ||||||||||
Morgan Stanley Capital Trust VI, 6.60% | 37,661 | 892,566 | ||||||||||
Morgan Stanley Capital Trust VII, 6.60% | 48,064 | 1,141,520 | ||||||||||
Morgan Stanley Capital Trust VIII, 6.45% | 36,052 | 845,419 | ||||||||||
The Bank of New York Capital V Series F, 5.95% | 15,256 | 380,790 | ||||||||||
The Goldman Sachs Group, Inc., 6.13% (a) | 57,956 | 1,341,682 | ||||||||||
The Goldman Sachs Group, Inc. Series A, 3.75% (b) | 32,769 | 688,804 | ||||||||||
The Goldman Sachs Group, Inc. Series B, 6.20% | 34,935 | 843,680 | ||||||||||
The Goldman Sachs Group, Inc. Series D, 4.00% (a)(b) | 59,040 | 1,270,541 | ||||||||||
9,363,306 | ||||||||||||
COMMERCIAL BANKS — 38.1% | ||||||||||||
BAC Capital Trust I, 7.00% | 24,689 | 600,436 | ||||||||||
BAC Capital Trust II, 7.00% (a) | 38,663 | 943,377 | ||||||||||
BAC Capital Trust III, 7.00% | 21,443 | 521,494 | ||||||||||
BAC Capital Trust IV, 5.88% | 16,130 | 345,666 | ||||||||||
BAC Capital Trust V, 6.00% | 22,208 | 481,692 | ||||||||||
BAC Capital Trust VIII, 6.00% | 21,458 | 462,849 | ||||||||||
BAC Capital Trust X Series B, 6.25% (a) | 38,663 | 850,586 | ||||||||||
BAC Capital Trust XII, 6.88% | 37,040 | 898,220 | ||||||||||
Bank One Capital Trust VI, 7.20% | 22,925 | 584,817 | ||||||||||
Barclays Bank PLC Series 2, 6.63% (a) | 26,056 | 607,887 | ||||||||||
Barclays Bank PLC Series 3, 7.10% (a) | 47,882 | 1,193,698 | ||||||||||
Barclays Bank PLC Series 4, 7.75% | 39,978 | 1,016,241 | ||||||||||
Barclays Bank PLC Series 5, 8.13% | 92,180 | 2,369,026 | ||||||||||
BB&T Capital Trust V, 8.95% (b) | 19,681 | 540,243 | ||||||||||
BB&T Capital Trust VI, 9.60% (a) | 25,091 | 725,130 | ||||||||||
BB&T Capital Trust VII, 8.10% | 15,256 | 419,387 | ||||||||||
Fifth Third Capital Trust V, 7.25% (b) | 25,091 | 624,264 | ||||||||||
Fifth Third Capital Trust VI, 7.25% (a)(b) | 37,732 | 943,677 | ||||||||||
Fifth Third Capital Trust VII, 8.88% (b) | 17,518 | 462,475 | ||||||||||
Fleet Capital Trust VIII, 7.20% (a) | 23,320 | 576,004 | ||||||||||
HSBC Holdings PLC, 8.00% (a) | 77,422 | 2,063,296 | ||||||||||
HSBC Holdings PLC, 8.13% | 44,802 | 1,202,038 | ||||||||||
HSBC Holdings PLC, Series A, 6.20% (a) | 29,542 | 676,512 | ||||||||||
HSBC USA, Inc. Series F, 3.50% (a)(b) | 10,556 | 224,737 | ||||||||||
HSBC USA, Inc. Series G, 4.00% (a)(b) | 7,614 | 180,223 | ||||||||||
KeyCorp Capital IX, 6.75% (a) | 14,425 | 346,200 | ||||||||||
KeyCorp Capital X, 8.00% | 24,793 | 630,238 | ||||||||||
Lloyds Banking Group PLC, 7.75% | 37,741 | 979,379 | ||||||||||
M&T Capital Trust IV, 8.50% (a) | 15,256 | 406,115 | ||||||||||
National City Capital Trust II, 6.63% (a) | 32,769 | 818,570 | ||||||||||
National City Capital Trust III, 6.63% (a) | 21,840 | 542,942 | ||||||||||
National City Capital Trust IV, 8.00% | 22,599 | 588,026 | ||||||||||
PNC Capital Trust D, 6.13% (a) | 13,091 | 326,490 | ||||||||||
PNC Capital Trust E, 7.75% | 19,682 | 517,243 | ||||||||||
Santander Finance Preferred SA Unipersonal, 10.50% (a) | 36,021 | 1,003,545 | ||||||||||
Suntrust Cap IX, 7.88% | 29,959 | 773,242 | ||||||||||
UBS Preferred Funding Trust IV Series D, 0.96% (a)(b) | 13,086 | 221,415 | ||||||||||
US Bancorp Capital VI, 5.75% (a) | 12,006 | 297,869 | ||||||||||
US Bancorp Capital VII, 5.88% | 13,086 | 322,832 | ||||||||||
US Bancorp Capital VIII Series 1, 6.35% | 16,434 | 408,549 | ||||||||||
US Bancorp Capital X, 6.50% (a) | 21,843 | 556,778 | ||||||||||
US Bancorp Capital XI, 6.60% (a) | 33,420 | 838,842 | ||||||||||
US Bancorp Capital XII, 6.30% | 23,364 | 580,362 | ||||||||||
US Bancorp Series B, 3.50% (a)(b) | 43,693 | 983,966 | ||||||||||
US Bancorp Series D, 7.88% | 21,842 | 589,516 | ||||||||||
Wachovia Capital Trust IV, 6.38% (a) | 38,277 | 940,849 | ||||||||||
Wachovia Capital Trust IX, 6.38% | 34,935 | 862,196 | ||||||||||
Wachovia Capital Trust X, 7.85% (a) | 36,654 | 965,833 | ||||||||||
Wells Fargo & Co. Series J, 8.00% | 54,444 | 1,480,332 | ||||||||||
Wells Fargo Capital IX, 5.63% (a) | 12,660 | 305,739 | ||||||||||
Wells Fargo Capital Trust IV, 7.00% (a) | 32,913 | 833,686 | ||||||||||
Wells Fargo Capital VII, 5.85% (a) | 12,660 | 316,500 | ||||||||||
Wells Fargo Capital XI, 6.25% (a) | 25,324 | 636,139 | ||||||||||
Wells Fargo Capital XII, 7.88% (a) | 39,881 | 1,069,608 | ||||||||||
Wells Fargo Capital XIV, 8.63% (a) | 17,467 | 481,565 | ||||||||||
39,138,541 | ||||||||||||
CONSUMER FINANCE — 1.4% | ||||||||||||
Capital One Capital II, 7.50% (a) | 15,129 | 385,185 | ||||||||||
HSBC Finance Corp., 6.36% | 11,701 | 267,251 | ||||||||||
HSBC USA, Inc. Series H, 6.50% (a) | 7,574 | 185,033 | ||||||||||
MBNA Capital D Series D, 8.13% | 13,091 | 331,202 | ||||||||||
SLM Corp., 6.00% (a) | 13,086 | 266,169 | ||||||||||
1,434,840 | ||||||||||||
DIVERSIFIED FINANCIAL SERVICES — 24.9% | ||||||||||||
Countrywide Capital IV, 6.75% | 21,840 | 517,608 | ||||||||||
Countrywide Capital V, 7.00% (a) | 65,319 | 1,606,847 | ||||||||||
Credit Suisse Guernsey, 7.90% | 66,620 | 1,784,084 | ||||||||||
Deutsche Bank Capital Funding Trust IX, 6.63% (a) | 35,796 | 824,024 | ||||||||||
Deutsche Bank Capital Funding Trust VIII, 6.38% (a) | 18,720 | 420,264 |
See accompanying notes to financial statements.
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SPDR Wells Fargo Preferred Stock ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Deutsche Bank Capital Funding Trust X, 7.35% | 25,106 | $ | 631,416 | |||||||||
Deutsche Bank Contingent Capital Trust II, 6.55% | 24,953 | 577,662 | ||||||||||
Deutsche Bank Contingent Capital Trust III, 7.60% (a) | 61,512 | 1,564,250 | ||||||||||
Deutsche Bank Contingent Capital Trust V, 8.05% (a) | 43,201 | 1,129,274 | ||||||||||
General Electric Capital Corp., 6.50% | 9,883 | 258,737 | ||||||||||
General Electric Capital Corp., 6.00% (a) | 39,450 | 1,005,975 | ||||||||||
General Electric Capital Corp., 6.05% | 23,730 | 606,776 | ||||||||||
General Electric Capital Corp., 5.88% (a) | 29,665 | 739,548 | ||||||||||
General Electric Capital Corp., 6.10% (a) | 39,450 | 995,323 | ||||||||||
General Electric Capital Corp., 6.63% | 39,450 | 1,005,186 | ||||||||||
General Electric Capital Corp. Series A, 6.45% | 19,776 | 504,288 | ||||||||||
HSBC Finance Corp., 6.88% | 6,146 | 155,985 | ||||||||||
HSBC Finance Corp., 6.00% (a) | 6,149 | 147,515 | ||||||||||
JP Morgan Chase & Co., 8.63% | 30,790 | 848,265 | ||||||||||
JP Morgan Chase Capital X, 7.00% | 17,117 | 433,231 | ||||||||||
JP Morgan Chase Capital XI Series K, 5.88% | 18,407 | 448,210 | ||||||||||
JP Morgan Chase Capital XII, 6.25% | 6,886 | 173,734 | ||||||||||
JP Morgan Chase Capital XIV, 6.20% | 10,231 | 256,184 | ||||||||||
JP Morgan Chase Capital XIX Series S, 6.63% (a) | 9,586 | 242,142 | ||||||||||
JP Morgan Chase Capital XVI, 6.35% (a) | 8,603 | 216,021 | ||||||||||
JP Morgan Chase Capital XXIV Series X, 6.88% | 11,953 | 308,268 | ||||||||||
JP Morgan Chase Capital XXIX, 6.70% (a) | 25,725 | 657,017 | ||||||||||
JP Morgan Chase Capital XXVI, 8.00% (a)(b) | 31,043 | 835,367 | ||||||||||
JP Morgan Chase Capital XXVIII, 7.20% (a)(b) | 25,726 | 694,345 | ||||||||||
Merrill Lynch Capital Trust I Series K, 6.45% (a)(b) | 45,851 | 1,017,892 | ||||||||||
Merrill Lynch Capital Trust II, 6.45% (b) | 41,522 | 917,636 | ||||||||||
Merrill Lynch Capital Trust III, 7.00% (a) | 32,769 | 782,524 | ||||||||||
Merrill Lynch Capital Trust III, 7.38% (a) | 32,769 | 821,847 | ||||||||||
Merrill Lynch Capital Trust IV, 7.12% (a) | 17,514 | 430,494 | ||||||||||
Merrill Lynch Capital Trust V Series F, 7.28% | 37,200 | 911,400 | ||||||||||
Repsol International Capital, Ltd. Series A, 7.45% | 30,597 | 785,731 | ||||||||||
Tennessee Valley Authority Series A, 4.50% (a)(b) | 11,946 | 298,531 | ||||||||||
25,553,601 | ||||||||||||
ELECTRIC UTILITIES — 3.4% | ||||||||||||
Alabama Power Co. Series B, 5.88% (a) | 10,921 | 283,946 | ||||||||||
American Electric Power, 8.75% (a) | 13,737 | 382,438 | ||||||||||
BGE Capital Trust II, 6.20% | 10,921 | 273,462 | ||||||||||
FPC Capital I Series A, 7.10% | 13,091 | 333,821 | ||||||||||
FPL Group Capital Trust I, 5.88% | 13,091 | 325,442 | ||||||||||
Georgia Power Co. Series D, 6.38% (a) | 13,091 | 350,315 | ||||||||||
NextEra Energy Capital Holdings, Inc., 8.75% | 16,434 | 459,166 | ||||||||||
NextEra Energy Capital Holdings, Inc., 6.60% | 15,256 | 390,706 | ||||||||||
NextEra Energy Capital Holdings, Inc., 7.45% (a) | 15,256 | 398,944 | ||||||||||
PPL Energy Supply LLC, 7.00% (a) | 10,920 | 283,702 | ||||||||||
3,481,942 | ||||||||||||
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 0.3% | ||||||||||||
Tennessee Valley Authority Series D, 4.73% (b) | 14,402 | 361,202 | ||||||||||
INSURANCE — 11.1% | ||||||||||||
Aegon NV, 6.88% (a) | 24,006 | 546,857 | ||||||||||
Aegon NV, 7.25% (a) | 45,851 | 1,096,756 | ||||||||||
Aegon NV, 6.38% (a) | 43,693 | 945,516 | ||||||||||
Aegon NV, 6.50% (a) | 21,860 | 475,455 | ||||||||||
Aegon NV Series 1, 4.00% (a)(b) | 10,921 | 228,686 | ||||||||||
American International Group, Inc., 7.70% (a)(b) | 48,116 | 1,174,030 | ||||||||||
American International Group, Inc. Series A-4, 6.45% (b) | 32,769 | 706,827 | ||||||||||
Axis Capital Holdings Series A, 7.25% | 10,921 | 273,571 | ||||||||||
Everest RE Capital Trust II Series B, 6.20% | 13,951 | 310,549 | ||||||||||
Lincoln National Corp., 6.75% (a) | 12,006 | 301,831 | ||||||||||
MetLife, Inc. Series A, 4.00% (a)(b) | 26,272 | 623,697 | ||||||||||
MetLife, Inc. Series B, 6.50% | 65,529 | 1,625,119 | ||||||||||
PartnerRe, Ltd. Series C, 6.75% | 12,651 | 311,215 | ||||||||||
Principal Financial Group, Inc. Series B, 6.52% (b) | 10,921 | 271,278 | ||||||||||
Prudential Financial, Inc., 9.00% | 40,231 | 1,105,950 | ||||||||||
Prudential PLC, 6.75% (a) | 10,921 | 273,899 | ||||||||||
Prudential PLC, 6.50% | 13,091 | 322,824 | ||||||||||
RenaissanceRe Holdings, Ltd. Series C, 6.08% (a) | 10,921 | 248,344 | ||||||||||
RenaissanceRe Holdings, Ltd. Series D, 6.60% (a) | 13,086 | 322,308 | ||||||||||
W.R. Berkley Capital Trust II, 6.75% | 10,921 | 272,916 | ||||||||||
11,437,628 | ||||||||||||
MEDIA — 3.8% | ||||||||||||
CBS Corp., 6.75% | 30,597 | 773,186 | ||||||||||
Comcast Corp., 7.00% | 15,129 | 383,520 |
See accompanying notes to financial statements.
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SPDR Wells Fargo Preferred Stock ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Comcast Corp., 6.63% (a) | 25,091 | $ | 638,566 | |||||||||
Comcast Corp. Series B, 7.00% | 49,203 | 1,244,836 | ||||||||||
Viacom, Inc., 6.85% | 32,769 | 831,677 | ||||||||||
3,871,785 | ||||||||||||
MULTI-UTILITIES — 1.3% | ||||||||||||
Dominion Resources Inc. Series A, 8.38% | 29,959 | 849,038 | ||||||||||
Xcel Energy, Inc., 7.60% | 17,518 | 480,519 | ||||||||||
1,329,557 | ||||||||||||
REAL ESTATE INVESTMENT TRUSTS — 4.6% | ||||||||||||
Harris Preferred Capital Corp. Series A, 7.38% | 10,921 | 275,318 | ||||||||||
Hospitality Properties Trust Series C, 7.00% (a) | 13,841 | 331,907 | ||||||||||
Kimco Realty Corp. Series G, 7.75% (a) | 20,114 | 531,009 | ||||||||||
Public Storage Series I, 7.25% (a) | 22,599 | 571,981 | ||||||||||
Public Storage Series K, 7.25% | 18,588 | 472,693 | ||||||||||
Public Storage Series M, 6.63% (a) | 20,835 | 520,042 | ||||||||||
Vornado Realty LP, 7.88% | 20,114 | 536,440 | ||||||||||
Vornado Realty Trust Series I, 6.63% (a) | 11,783 | 278,550 | ||||||||||
Wachovia Preferred Funding Corp. Series A, 7.25% (a) | 32,769 | 838,559 | ||||||||||
Weingarten Realty Investors Series F, 6.50% (a) | 15,256 | 355,465 | ||||||||||
4,711,964 | ||||||||||||
WIRELESS TELECOMMUNICATION SERVICES — 1.8% | ||||||||||||
AT&T, Inc., 6.38% (a) | 52,451 | 1,395,721 | ||||||||||
Telephone & Data Systems, 7.60% (a) | 3,592 | 90,554 | ||||||||||
US Cellular Corp., 7.50% | 14,391 | 366,251 | ||||||||||
1,852,526 | ||||||||||||
TOTAL PREFERRED STOCKS — | ||||||||||||
(Cost $99,495,779) | 102,536,892 | |||||||||||
SHORT TERM INVESTMENTS — 12.6% | ||||||||||||
MONEY MARKET FUNDS — 12.6% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 12,506,166 | 12,506,166 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 513,787 | 513,787 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $13,019,953) | 13,019,953 | |||||||||||
TOTAL INVESTMENTS — 112.4% (f) | ||||||||||||
(Cost $112,515,732) | 115,556,845 | |||||||||||
OTHER ASSETS & LIABILITIES — (12.4)% | (12,786,257 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 102,770,588 | ||||||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Variable rate security. The rate shown reflects the rate as of December 31, 2010. | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF ASSETS AND LIABILITIES
STATEMENTS OF ASSETS AND LIABILITIES
December 31, 2010 (Unaudited)
SPDR Dow Jones Total Market ETF | SPDR Dow Jones Large Cap ETF | SPDR S&P 500 Growth ETF | SPDR S&P 500 Value ETF | SPDR Dow Jones Mid Cap ETF | SPDR S&P 400 Mid Cap Growth ETF | SPDR S&P 400 Mid Cap Value ETF | SPDR S&P 600 Small Cap ETF | SPDR S&P 600 Small Cap Growth ETF | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||||||
Investments in securities of unaffiliated issuers, at value* (Note 2) | $ | 202,022,607 | $ | 41,157,419 | $ | 189,507,353 | $ | 166,968,588 | $ | 59,000,593 | $ | 70,834,825 | $ | 26,928,727 | $ | 65,754,662 | $ | 173,910,501 | ||||||||||||||||||
Investments in securities of affiliated issuers, at value (Note 3) | 9,607,814 | 3,095,849 | 3,148,622 | 4,787,026 | 16,524,851 | 2,318,010 | 7,226,066 | 17,888,670 | 22,393,122 | |||||||||||||||||||||||||||
Total Investments | 211,630,421 | 44,253,268 | 192,655,975 | 171,755,614 | 75,525,444 | 73,152,835 | 34,154,793 | 83,643,332 | 196,303,623 | |||||||||||||||||||||||||||
Cash | 780 | — | — | — | 22 | — | — | — | — | |||||||||||||||||||||||||||
Receivable for investments sold | 47,915 | — | — | 1,932 | — | — | 1,840 | 14,607 | 86,501 | |||||||||||||||||||||||||||
Receivable for fund shares sold in-kind | — | — | 48,900 | — | — | — | — | 19 | — | |||||||||||||||||||||||||||
Dividends receivable — unaffiliated issuers | 225,498 | 47,928 | 191,115 | 217,860 | 54,354 | 42,715 | 30,168 | 43,434 | 78,420 | |||||||||||||||||||||||||||
Dividends receivable — affiliated issuers | 3,176 | 885 | 730 | 655 | 3,017 | 618 | 674 | 2,460 | 6,011 | |||||||||||||||||||||||||||
TOTAL ASSETS | 211,907,790 | 44,302,081 | 192,896,720 | 171,976,061 | 75,582,837 | 73,196,168 | 34,187,475 | 83,703,852 | 196,474,555 | |||||||||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||||||||||||
Payable upon return of securities loaned | 8,943,188 | 3,000,511 | 2,442,385 | 3,776,338 | 16,390,393 | 2,202,278 | 7,127,929 | 17,762,102 | 21,802,253 | |||||||||||||||||||||||||||
Payable for investments purchased | — | 4,764 | — | 40 | 54,782 | — | — | 25,328 | 76,863 | |||||||||||||||||||||||||||
Accrued advisory fee (Note 3) | 34,008 | 6,924 | 32,050 | 28,084 | 12,225 | 15,858 | 5,818 | 12,459 | 36,579 | |||||||||||||||||||||||||||
Accrued trustees’ fees and expenses (Note 3) | 570 | 153 | 563 | 255 | 231 | 370 | 68 | 207 | 517 | |||||||||||||||||||||||||||
TOTAL LIABILITIES | 8,977,766 | 3,012,352 | 2,474,998 | 3,804,717 | 16,457,631 | 2,218,506 | 7,133,815 | 17,800,096 | 21,916,212 | |||||||||||||||||||||||||||
NET ASSETS | $ | 202,930,024 | $ | 41,289,729 | $ | 190,421,722 | $ | 168,171,344 | $ | 59,125,206 | $ | 70,977,662 | $ | 27,053,660 | $ | 65,903,756 | $ | 174,558,343 | ||||||||||||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||||||||||||||||||||||
Paid in capital (Note 4) | $ | 197,883,141 | $ | 33,753,546 | $ | 223,007,988 | $ | 185,738,322 | $ | 52,341,929 | $ | 77,292,552 | $ | 28,108,932 | $ | 69,729,751 | $ | 199,385,047 | ||||||||||||||||||
Undistributed (distribution in excess of) net investment income | 4,752 | (246 | ) | 59,487 | (325,244 | ) | 2,362 | 15,801 | (1,403 | ) | (609 | ) | 109,170 | |||||||||||||||||||||||
Accumulated net realized gain (loss) on investments | (16,515,978 | ) | (1,195,296 | ) | (52,273,005 | ) | (18,399,074 | ) | (1,564,109 | ) | (5,978,469 | ) | (2,026,991 | ) | (2,561,180 | ) | (21,823,924 | ) | ||||||||||||||||||
Net unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||||||||||
Investments | 21,558,109 | 8,731,725 | 19,627,252 | 1,157,340 | 8,345,024 | (352,222 | ) | 973,122 | (1,264,206 | ) | (3,111,950 | ) | ||||||||||||||||||||||||
NET ASSETS | $ | 202,930,024 | $ | 41,289,729 | $ | 190,421,722 | $ | 168,171,344 | $ | 59,125,206 | $ | 70,977,662 | $ | 27,053,660 | $ | 65,903,756 | $ | 174,558,343 | ||||||||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||||||||||||||||||
Net asset value per share | $ | 94.38 | $ | 58.99 | $ | 56.84 | $ | 64.66 | $ | 59.13 | $ | 74.71 | $ | 54.11 | $ | 65.90 | $ | 109.09 | ||||||||||||||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 2,150,138 | 700,000 | 3,350,130 | 2,600,870 | 1,000,000 | 950,000 | 500,000 | 1,000,023 | 1,600,107 | |||||||||||||||||||||||||||
COST OF INVESTMENTS: | ||||||||||||||||||||||||||||||||||||
Unaffiliated issuers | $ | 180,441,460 | $ | 32,428,646 | $ | 169,880,101 | $ | 165,824,412 | $ | 50,655,569 | $ | 71,187,047 | $ | 25,955,605 | $ | 67,018,868 | $ | 177,022,451 | ||||||||||||||||||
Affiliated issuers | 9,630,852 | 3,092,897 | 3,148,622 | 4,773,862 | 16,524,851 | 2,318,010 | 7,226,066 | 17,888,670 | 22,393,122 | |||||||||||||||||||||||||||
Total cost of investments | $ | 190,072,312 | $ | 35,521,543 | $ | 173,028,723 | $ | 170,598,274 | $ | 67,180,420 | $ | 73,505,057 | $ | 33,181,671 | $ | 84,907,538 | $ | 199,415,573 | ||||||||||||||||||
* Includes investments in securities on loan, at value | $ | 8,709,399 | $ | 3,022,283 | $ | 2,379,495 | $ | 3,675,624 | $ | 16,137,823 | $ | 2,137,787 | $ | 6,909,551 | $ | 17,118,426 | $ | 20,986,287 | ||||||||||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF ASSETS AND LIABILITIES (continued)
STATEMENTS OF ASSETS AND LIABILITIES (continued)
December 31, 2010 (Unaudited)
SPDR S&P 600 | SPDR KBW | SPDR KBW | ||||||||||||||||||||||||||||||||||
Small Cap | SPDR DJ Global | SPDR Dow Jones | SPDR KBW | SPDR KBW Capital | SPDR KBW | Mortgage | Regional | SPDR Morgan Stanley | ||||||||||||||||||||||||||||
Value ETF | Titans ETF | REIT ETF | Bank ETF | Markets ETF | Insurance ETF | Finance ETF | Banking ETF | Technology ETF | ||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||||||
Investments in securities of unaffiliated issuers, at value* (Note 2) | $ | 134,210,248 | $ | 122,086,848 | $ | 1,362,630,170 | $ | 1,923,466,811 | $ | 70,709,125 | $ | 234,291,723 | $ | 2,110,194 | $ | 792,446,949 | $ | 217,821,089 | ||||||||||||||||||
Investments in securities of affiliated issuers, at value (Note 3) | 13,074,329 | 4,678,764 | 128,150,834 | 240,390,985 | 11,183,750 | 6,820,057 | 612,096 | 108,521,810 | 11,648,422 | |||||||||||||||||||||||||||
Total Investments | 147,284,577 | 126,765,612 | 1,490,781,004 | 2,163,857,796 | 81,892,875 | 241,111,780 | 2,722,290 | 900,968,759 | 229,469,511 | |||||||||||||||||||||||||||
Cash | — | — | 746 | — | — | — | — | — | — | |||||||||||||||||||||||||||
Foreign currency, at value | — | 11,054 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Receivable for investments sold | — | 5 | — | — | — | — | 111,656 | 1,718,066 | — | |||||||||||||||||||||||||||
Receivable for fund shares sold in-kind | — | — | — | 4,602 | — | 128 | — | — | — | |||||||||||||||||||||||||||
Receivable for foreign taxes recoverable | — | 47,735 | — | — | — | — | — | — | 4,358 | |||||||||||||||||||||||||||
Dividends receivable — unaffiliated issuers | 128,826 | 214,298 | 4,523,759 | 840,722 | 23,418 | 231,332 | 654 | 1,098,971 | 44,946 | |||||||||||||||||||||||||||
Dividends receivable — affiliated issuers | 2,105 | 778 | 18,562 | 27,421 | 1,845 | 1,839 | 114 | 24,236 | 2,868 | |||||||||||||||||||||||||||
TOTAL ASSETS | 147,415,508 | 127,039,482 | 1,495,324,071 | 2,164,730,541 | 81,918,138 | 241,345,079 | 2,834,714 | 903,810,032 | 229,521,683 | |||||||||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||||||||||||
Payable upon return of securities loaned | 12,885,505 | 4,516,533 | 126,544,636 | 187,562,073 | 4,317,432 | 6,228,238 | 609,532 | 108,326,494 | 11,454,787 | |||||||||||||||||||||||||||
Payable for investments purchased | 49,075 | — | 1,185,159 | — | 815,408 | 398,390 | 113,137 | 1,749,227 | — | |||||||||||||||||||||||||||
Payable for fund shares repurchased in-kind | — | — | — | — | — | — | — | 4,376 | — | |||||||||||||||||||||||||||
Accrued advisory fee (Note 3) | 28,293 | 50,338 | 284,189 | 498,571 | 19,455 | 60,475 | 612 | 201,545 | 91,642 | |||||||||||||||||||||||||||
Accrued trustees’ fees and expenses (Note 3) | 614 | 274 | 3,578 | 2,275 | 221 | 890 | 16 | 3,536 | 775 | |||||||||||||||||||||||||||
TOTAL LIABILITIES | 12,963,487 | 4,567,145 | 128,017,562 | 188,062,919 | 5,152,516 | 6,687,993 | 723,297 | 110,285,178 | 11,547,204 | |||||||||||||||||||||||||||
NET ASSETS | $ | 134,452,021 | $ | 122,472,337 | $ | 1,367,306,509 | $ | 1,976,667,622 | $ | 76,765,622 | $ | 234,657,086 | $ | 2,111,417 | $ | 793,524,854 | $ | 217,974,479 | ||||||||||||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||||||||||||||||||||||
Paid in capital (Note 4) | $ | 145,075,269 | $ | 158,887,703 | $ | 1,677,513,482 | $ | 2,530,112,461 | $ | 160,291,440 | $ | 258,550,501 | $ | 2,224,165 | $ | 1,158,814,874 | $ | 283,537,476 | ||||||||||||||||||
Undistributed (distribution in excess of) net investment income | (3,960 | ) | (46,608 | ) | 246,737 | (730,170 | ) | 116,682 | (152,132 | ) | 1,343 | 71,262 | (1,922 | ) | ||||||||||||||||||||||
Accumulated net realized gain (loss) on investments and foreign currency transactions | (9,153,726 | ) | (27,868,721 | ) | (278,059,033 | ) | (511,546,464 | ) | (65,710,842 | ) | (21,381,394 | ) | 46,906 | (250,443,569 | ) | (67,806,437 | ) | |||||||||||||||||||
Net unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||||||||||
Investments | (1,465,562 | ) | (8,503,216 | ) | (32,394,677 | ) | (41,168,205 | ) | (17,931,658 | ) | (2,359,889 | ) | (160,997 | ) | (114,917,713 | ) | 2,245,362 | |||||||||||||||||||
Foreign currency | — | 3,179 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
NET ASSETS | $ | 134,452,021 | $ | 122,472,337 | $ | 1,367,306,509 | $ | 1,976,667,622 | $ | 76,765,622 | $ | 234,657,086 | $ | 2,111,417 | $ | 793,524,854 | $ | 217,974,479 | ||||||||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||||||||||||||||||
Net asset value per share | $ | 68.90 | $ | 58.30 | $ | 60.95 | $ | 25.92 | $ | 38.38 | $ | 43.06 | $ | 42.23 | $ | 26.36 | $ | 66.05 | ||||||||||||||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 1,951,340 | 2,100,583 | 22,431,892 | 76,252,118 | 2,000,000 | 5,450,000 | 50,000 | 30,102,585 | 3,300,108 | |||||||||||||||||||||||||||
COST OF INVESTMENTS: | ||||||||||||||||||||||||||||||||||||
Unaffiliated issuers | $ | 135,675,810 | $ | 130,590,064 | $ | 1,395,024,847 | $ | 1,960,273,669 | $ | 86,596,539 | $ | 236,651,612 | $ | 2,271,191 | $ | 907,364,662 | $ | 215,575,727 | ||||||||||||||||||
Affiliated issuers | 13,074,329 | 4,678,764 | 128,150,834 | 244,752,332 | 13,227,994 | 6,820,057 | 612,096 | 108,521,810 | 11,648,422 | |||||||||||||||||||||||||||
Total cost of investments | $ | 148,750,139 | $ | 135,268,828 | $ | 1,523,175,681 | $ | 2,205,026,001 | $ | 99,824,533 | $ | 243,471,669 | $ | 2,883,287 | $ | 1,015,886,472 | $ | 227,224,149 | ||||||||||||||||||
Foreign currency, at cost | $ | — | $ | 12,233 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
* Includes investments in securities on loan, at value | $ | 12,312,209 | $ | 4,429,337 | $ | 127,909,537 | $ | 182,145,207 | $ | 4,204,030 | $ | 6,046,178 | $ | 589,917 | $ | 104,004,590 | $ | 11,187,894 | ||||||||||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF ASSETS AND LIABILITIES (continued)
STATEMENTS OF ASSETS AND LIABILITIES (continued)
December 31, 2010 (Unaudited)
SPDR S&P | SPDR S&P | |||||||||||||||||||||||||||||||||||||||
SPDR S&P | Oil & Gas | Oil & Gas | ||||||||||||||||||||||||||||||||||||||
SPDR S&P | SPDR S&P | SPDR S&P | Metals & | Equipment & | Exploration & | SPDR S&P | SPDR S&P | SPDR S&P | SPDR Wells Fargo | |||||||||||||||||||||||||||||||
Dividend ETF | Biotech ETF | Homebuilders ETF | Mining ETF | Services ETF | Production ETF | Pharmaceuticals ETF | Retail ETF | Semiconductor ETF | Preferred Stock ETF | |||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||||||||||
Investments in securities of unaffiliated issuers, at value* (Note 2) | $ | 5,025,202,359 | $ | 491,778,893 | $ | 869,915,180 | $ | 1,191,642,691 | $ | 451,003,801 | $ | 734,798,624 | $ | 209,418,238 | $ | 973,632,317 | $ | 108,799,222 | $ | 102,536,892 | ||||||||||||||||||||
Investments in securities of affiliated issuers, at value (Note 3) | 485,557,850 | 77,799,381 | 106,524,438 | 102,023,056 | 21,051,465 | 43,437,836 | 11,401,032 | 69,355,160 | 6,997,328 | 13,019,953 | ||||||||||||||||||||||||||||||
Total Investments | 5,510,760,209 | 569,578,274 | 976,439,618 | 1,293,665,747 | 472,055,266 | 778,236,460 | 220,819,270 | 1,042,987,477 | 115,796,550 | 115,556,845 | ||||||||||||||||||||||||||||||
Receivable for investments sold | — | — | — | — | — | — | — | — | — | 1,134,742 | ||||||||||||||||||||||||||||||
Receivable for fund shares sold in-kind | 1,272 | 141 | 8,197 | — | 161 | — | — | — | — | — | ||||||||||||||||||||||||||||||
Dividends receivable — unaffiliated issuers | 10,968,053 | — | 513,038 | 921,030 | 43,642 | 293,675 | 105,273 | 495,330 | 23,764 | 218,031 | ||||||||||||||||||||||||||||||
Dividends receivable — affiliated issuers | 71,934 | 23,416 | 18,477 | 17,341 | 5,989 | 7,469 | 3,296 | 63,004 | 4,026 | 6,852 | ||||||||||||||||||||||||||||||
Due from Adviser | — | — | — | — | — | — | — | 11,147 | — | — | ||||||||||||||||||||||||||||||
TOTAL ASSETS | 5,521,801,468 | 569,601,831 | 976,979,330 | 1,294,604,118 | 472,105,058 | 778,537,604 | 220,927,839 | 1,043,556,958 | 115,824,340 | 116,916,470 | ||||||||||||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||||||||||||||||
Payable upon return of securities loaned | 473,296,663 | 77,544,250 | 106,342,200 | 100,826,120 | 19,256,971 | 41,854,886 | 11,344,263 | 66,607,568 | 6,612,265 | 12,506,166 | ||||||||||||||||||||||||||||||
Payable for investments purchased | 9,954,119 | — | — | — | 1,497,197 | 1,219,403 | — | — | — | 1,601,047 | ||||||||||||||||||||||||||||||
Payable for fund shares repurchased in-kind | — | — | — | 7,151 | — | 3,080 | — | 1,490 | — | — | ||||||||||||||||||||||||||||||
Accrued advisory fee (Note 3) | 1,433,116 | 152,712 | 257,948 | 359,154 | 125,983 | 236,225 | 62,756 | 261,681 | 31,023 | 38,508 | ||||||||||||||||||||||||||||||
Accrued trustees’ fees and expenses (Note 3) | 4,836 | 1,605 | 3,001 | 3,617 | 1,282 | 2,789 | 350 | 3,302 | 693 | 161 | ||||||||||||||||||||||||||||||
TOTAL LIABILITIES | 484,688,734 | 77,698,567 | 106,603,149 | 101,196,042 | 20,881,433 | 43,316,383 | 11,407,369 | 66,874,041 | 6,643,981 | 14,145,882 | ||||||||||||||||||||||||||||||
NET ASSETS | $ | 5,037,112,734 | $ | 491,903,264 | $ | 870,376,181 | $ | 1,193,408,076 | $ | 451,223,625 | $ | 735,221,221 | $ | 209,520,470 | $ | 976,682,917 | $ | 109,180,359 | $ | 102,770,588 | ||||||||||||||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||||||||||||||||||||||||||
Paid in capital (Note 4) | $ | 4,728,806,272 | $ | 623,931,149 | $ | 1,056,089,419 | $ | 1,413,024,571 | $ | 459,755,070 | $ | 873,684,373 | $ | 184,367,549 | $ | 1,030,137,042 | $ | 134,615,682 | $ | 100,497,732 | ||||||||||||||||||||
Undistributed (distribution in excess of) net investment income | (11,338,135 | ) | (789,616 | ) | (872,934 | ) | (33,396 | ) | (202,568 | ) | (238,131 | ) | (4,296 | ) | (1,549,799 | ) | 9,425 | (421,243 | ) | |||||||||||||||||||||
Accumulated net realized gain (loss) on investments | (137,344,538 | ) | (149,724,393 | ) | (167,952,675 | ) | (305,120,451 | ) | (78,563,782 | ) | (154,047,296 | ) | 4,954,566 | (40,558,989 | ) | (22,544,961 | ) | (347,014 | ) | |||||||||||||||||||||
Net unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||||||||||||||
Investments | 456,989,135 | 18,486,124 | (16,887,629 | ) | 85,537,352 | 70,234,905 | 15,822,275 | 20,202,651 | (11,345,337 | ) | (2,899,787 | ) | 3,041,113 | |||||||||||||||||||||||||||
NET ASSETS | $ | 5,037,112,734 | $ | 491,903,264 | $ | 870,376,181 | $ | 1,193,408,076 | $ | 451,223,625 | $ | 735,221,221 | $ | 209,520,470 | $ | 976,682,917 | $ | 109,180,359 | $ | 102,770,588 | ||||||||||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||||||||||||||||||||||
Net asset value per share | $ | 51.93 | $ | 63.06 | $ | 17.39 | $ | 68.78 | $ | 36.68 | $ | 52.70 | $ | 46.05 | $ | 48.35 | $ | 54.59 | $ | 44.68 | ||||||||||||||||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 97,003,658 | 7,800,000 | 50,050,016 | 17,350,230 | 12,300,000 | 13,950,000 | 4,550,135 | 20,200,113 | 2,000,000 | 2,300,000 | ||||||||||||||||||||||||||||||
COST OF INVESTMENTS: | ||||||||||||||||||||||||||||||||||||||||
Unaffiliated issuers | $ | 4,568,213,224 | $ | 473,292,769 | $ | 886,802,809 | $ | 1,106,105,339 | $ | 380,768,896 | $ | 718,976,349 | $ | 189,215,587 | $ | 984,977,654 | $ | 111,699,009 | $ | 99,495,779 | ||||||||||||||||||||
Affiliated issuers | 485,557,850 | 77,799,381 | 106,524,438 | 102,023,056 | 21,051,465 | 43,437,836 | 11,401,032 | 69,355,160 | 6,997,328 | 13,019,953 | ||||||||||||||||||||||||||||||
Total cost of investments | $ | 5,053,771,074 | $ | 551,092,150 | $ | 993,327,247 | $ | 1,208,128,395 | $ | 401,820,361 | $ | 762,414,185 | $ | 200,616,619 | $ | 1,054,332,814 | $ | 118,696,337 | $ | 112,515,732 | ||||||||||||||||||||
* Includes investments in securities on loan, at value | $ | 460,353,143 | $ | 74,686,626 | $ | 103,421,640 | $ | 105,850,550 | $ | 18,887,157 | $ | 45,797,734 | $ | 10,914,975 | $ | 64,778,142 | $ | 6,451,063 | $ | 12,266,881 | ||||||||||||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS
For the Six Months Ended December 31, 2010 (Unaudited)
SPDR | SPDR | SPDR | SPDR | |||||||||||||||||||||||||||||||||
SPDR Dow | SPDR Dow | SPDR | SPDR | SPDR Dow | S&P 400 | S&P 400 | S&P 600 | S&P 600 | ||||||||||||||||||||||||||||
Jones Total | Jones Large | S&P 500 | S&P 500 | Jones Mid | Mid Cap | Mid Cap | Small | Small Cap | ||||||||||||||||||||||||||||
Market ETF | Cap ETF | Growth ETF | Value ETF | Cap ETF | Growth ETF | Value ETF | Cap ETF | Growth ETF | ||||||||||||||||||||||||||||
INVESTMENT INCOME | ||||||||||||||||||||||||||||||||||||
Dividend income on securities of unaffiliated issuers (Note 2) | $ | 1,860,764 | $ | 402,586 | $ | 994,394 | $ | 2,157,955 | $ | 436,893 | $ | 234,166 | $ | 443,339 | $ | 459,643 | $ | 568,715 | ||||||||||||||||||
Dividend income on securities of affiliated issuers (Note 3) | 820 | 122 | 693 | 598 | 159 | 183 | 112 | 194 | 588 | |||||||||||||||||||||||||||
Affiliated securities lending — net (Note 3 and Note 8) | 18,817 | 6,883 | 11,877 | 6,599 | 20,930 | 16,234 | 11,545 | 32,796 | 81,027 | |||||||||||||||||||||||||||
Foreign taxes withheld | (98 | ) | (45 | ) | — | (296 | ) | — | — | — | (15 | ) | — | |||||||||||||||||||||||
TOTAL INVESTMENT INCOME | 1,880,303 | 409,546 | 1,006,964 | 2,164,856 | 457,982 | 250,583 | 454,996 | 492,618 | 650,330 | |||||||||||||||||||||||||||
EXPENSES | ||||||||||||||||||||||||||||||||||||
Advisory fee (Note 3) | 182,744 | 37,897 | 179,229 | 145,489 | 66,010 | 83,675 | 40,060 | 67,946 | 179,005 | |||||||||||||||||||||||||||
Trustees’ fees and expenses (Note 3) | 2,872 | 597 | 3,006 | 2,000 | 903 | 1,001 | 443 | 883 | 2,185 | |||||||||||||||||||||||||||
Proxy expenses | 25,461 | 5,617 | 26,266 | 18,991 | 7,622 | 18,415 | 4,262 | 9,965 | 23,175 | |||||||||||||||||||||||||||
Miscellaneous expenses | 2,182 | 2,080 | 2,010 | 2,181 | 2,498 | 1,473 | 2,464 | 3,123 | 2,225 | |||||||||||||||||||||||||||
TOTAL EXPENSES | 213,259 | 46,191 | 210,511 | 168,661 | 77,033 | 104,564 | 47,229 | 81,917 | 206,590 | |||||||||||||||||||||||||||
NET INVESTMENT INCOME (LOSS) | 1,667,044 | 363,355 | 796,453 | 1,996,195 | 380,949 | 146,019 | 407,767 | 410,701 | 443,740 | |||||||||||||||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS | ||||||||||||||||||||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||||||||||||||||||||
Investments | 861,307 | 616,441 | (3,399,709 | ) | 9,050,325 | 2,621,814 | 17,333,642 | 3,519,926 | 11,373,981 | 22,383,532 | ||||||||||||||||||||||||||
Investments in securities of affiliated issuers | (618 | ) | 144 | — | (162,480 | ) | — | — | — | — | — | |||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||||||||||
Investments | 36,021,607 | 6,940,013 | 43,932,211 | 18,321,802 | 9,807,449 | 413,948 | 2,190,623 | 1,680,241 | 15,728,565 | |||||||||||||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS | 36,882,296 | 7,556,598 | 40,532,502 | 27,209,647 | 12,429,263 | 17,747,590 | 5,710,549 | 13,054,222 | 38,112,097 | |||||||||||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 38,549,340 | $ | 7,919,953 | $ | 41,328,955 | $ | 29,205,842 | $ | 12,810,212 | $ | 17,893,609 | $ | 6,118,316 | $ | 13,464,923 | $ | 38,555,837 | ||||||||||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF OPERATIONS (continued)
STATEMENTS OF OPERATIONS (continued)
For the Six Months Ended December 31, 2010 (Unaudited)
SPDR S&P 600 | SPDR DJ | SPDR Dow | SPDR KBW | SPDR KBW | SPDR KBW | SPDR Morgan | ||||||||||||||||||||||||||||||
Small Cap | Global | Jones | SPDR KBW | Capital | SPDR KBW | Mortgage | Regional | Stanley | ||||||||||||||||||||||||||||
Value ETF | Titans ETF | REIT ETF | Bank ETF | Markets ETF | Insurance ETF | Finance ETF | Banking ETF | Technology ETF | ||||||||||||||||||||||||||||
INVESTMENT INCOME | ||||||||||||||||||||||||||||||||||||
Dividend income on securities of unaffiliated issuers (Note 2) | $ | 1,716,350 | $ | 1,177,609 | $ | 24,376,637 | $ | 4,305,018 | $ | 1,107,016 | $ | 2,213,679 | $ | 21,843 | $ | 5,676,719 | $ | 749,817 | ||||||||||||||||||
Dividend income on securities of affiliated issuers (Note 3) | 283 | 153 | 1,895 | 17,193 | 2,294 | 268 | 6 | 935 | 436 | |||||||||||||||||||||||||||
Affiliated securities lending — net (Note 3 and Note 8) | 55,231 | 11,140 | 131,700 | 67,983 | 4,713 | 8,838 | 982 | 198,306 | 17,797 | |||||||||||||||||||||||||||
Foreign taxes withheld | (75 | ) | (39,795 | ) | — | — | — | — | — | — | (4,248 | ) | ||||||||||||||||||||||||
TOTAL INVESTMENT INCOME | 1,771,789 | 1,149,107 | 24,510,232 | 4,390,194 | 1,114,023 | 2,222,785 | 22,831 | 5,875,960 | 763,802 | |||||||||||||||||||||||||||
EXPENSES | ||||||||||||||||||||||||||||||||||||
Advisory fee (Note 3) | 166,548 | 240,169 | 1,613,417 | 1,718,866 | 98,029 | 307,105 | 4,043 | 1,077,307 | 496,637 | |||||||||||||||||||||||||||
Trustees’ fees and expenses (Note 3) | 2,417 | 1,438 | 21,177 | 13,639 | 1,019 | 2,860 | 55 | 11,435 | 3,222 | |||||||||||||||||||||||||||
Proxy expenses | 21,806 | 22,727 | 115,205 | 129,618 | 17,428 | 23,924 | 234 | 54,211 | 45,786 | |||||||||||||||||||||||||||
Miscellaneous expenses | 3,019 | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
TOTAL EXPENSES | 193,790 | 264,334 | 1,749,799 | 1,862,123 | 116,476 | 333,889 | 4,332 | 1,142,953 | 545,645 | |||||||||||||||||||||||||||
NET INVESTMENT INCOME (LOSS) | 1,577,999 | 884,773 | 22,760,433 | 2,528,071 | 997,547 | 1,888,896 | 18,499 | 4,733,007 | 218,157 | |||||||||||||||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS | ||||||||||||||||||||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||||||||||||||||||||
Investments | 5,795,545 | (186,503 | ) | (3,692,734 | ) | (22,131,319 | ) | (3,445,652 | ) | (225,485 | ) | 133,088 | (36,070,572 | ) | 4,897,902 | |||||||||||||||||||||
Investments in securities of affiliated issuers | — | — | — | 964,083 | (509,636 | ) | — | — | — | — | ||||||||||||||||||||||||||
Foreign currency transactions | — | 12,667 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||||||||||
Investments | 21,131,111 | 17,392,919 | 221,783,449 | 176,115,466 | 14,832,425 | 33,790,636 | 171,434 | 109,260,276 | 44,272,798 | |||||||||||||||||||||||||||
Foreign currency transactions | — | 4,314 | — | — | — | — | — | — | — | |||||||||||||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY TRANSACTIONS | 26,926,656 | 17,223,397 | 218,090,715 | 154,948,230 | 10,877,137 | 33,565,151 | 304,522 | 73,189,704 | 49,170,700 | |||||||||||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 28,504,655 | $ | 18,108,170 | $ | 240,851,148 | $ | 157,476,301 | $ | 11,874,684 | $ | 35,454,047 | $ | 323,021 | $ | 77,922,711 | $ | 49,388,857 | ||||||||||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF OPERATIONS (continued)
STATEMENTS OF OPERATIONS (continued)
For the Six Months Ended December 31, 2010 (Unaudited)
SPDR S&P | SPDR S&P | |||||||||||||||||||||||||||||||||||||||
SPDR S&P | Oil & Gas | Oil & Gas | SPDR Wells | |||||||||||||||||||||||||||||||||||||
SPDR S&P | SPDR S&P | SPDR S&P | Metals & | Equipment & | Exploration & | SPDR S&P | SPDR S&P | SPDR S&P | Fargo Preferred | |||||||||||||||||||||||||||||||
Dividend ETF | Biotech ETF | Homebuilders ETF | Mining ETF | Services ETF | Production ETF | Pharmaceuticals ETF | Retail ETF | Semiconductor ETF | Stock ETF | |||||||||||||||||||||||||||||||
INVESTMENT INCOME | ||||||||||||||||||||||||||||||||||||||||
Dividend income on securities of unaffiliated issuers (Note 2) | $ | 68,603,191 | $ | 285 | $ | 14,423,138 | $ | 5,063,885 | $ | 3,301,321 | $ | 1,988,176 | $ | 1,029,337 | $ | 4,829,984 | $ | 523,901 | $ | 2,882,806 | ||||||||||||||||||||
Dividend income on securities of affiliated issuers (Note 3) | 11,528 | 522 | 1,787 | 2,244 | 447 | 789 | 389 | 1,217 | 157 | 416 | ||||||||||||||||||||||||||||||
Affiliated securities lending — net (Note 3 and Note 8) | 402,873 | 139,259 | 127,360 | 90,099 | 65,899 | 42,006 | 53,387 | 295,162 | 14,959 | 32,848 | ||||||||||||||||||||||||||||||
Foreign taxes withheld | — | — | — | — | (1,185 | ) | — | — | — | — | (1,863 | ) | ||||||||||||||||||||||||||||
TOTAL INVESTMENT INCOME | 69,017,592 | 140,066 | 14,552,285 | 5,156,228 | 3,366,482 | 2,030,971 | 1,083,113 | 5,126,363 | 539,017 | 2,914,207 | ||||||||||||||||||||||||||||||
EXPENSES | ||||||||||||||||||||||||||||||||||||||||
Advisory fee (Note 3) | 6,124,570 | 859,070 | 1,309,466 | 1,564,608 | 548,189 | 957,182 | 341,518 | 1,049,296 | 154,301 | 185,525 | ||||||||||||||||||||||||||||||
Trustees’ fees and expenses (Note 3) | 38,839 | 8,140 | 11,878 | 12,519 | 4,313 | 8,747 | 2,734 | 9,286 | 1,528 | 1,247 | ||||||||||||||||||||||||||||||
Proxy expenses | 226,620 | 61,895 | 132,641 | 123,224 | 68,160 | 54,848 | 12,024 | 54,726 | 18,570 | 5,148 | ||||||||||||||||||||||||||||||
Miscellaneous expenses | — | 577 | 71 | — | — | — | 61 | 732 | — | — | ||||||||||||||||||||||||||||||
TOTAL EXPENSES | 6,390,029 | 929,682 | 1,454,056 | 1,700,351 | 620,662 | 1,020,777 | 356,337 | 1,114,040 | 174,399 | 191,920 | ||||||||||||||||||||||||||||||
NET INVESTMENT INCOME (LOSS) | 62,627,563 | (789,616 | ) | 13,098,229 | 3,455,877 | 2,745,820 | 1,010,194 | 726,776 | 4,012,323 | 364,618 | 2,722,287 | |||||||||||||||||||||||||||||
�� | ||||||||||||||||||||||||||||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS | ||||||||||||||||||||||||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||||||||||||||||||||||||
Investments | (16,833,286 | ) | 18,625,818 | 14,144,487 | 93,374,982 | 7,747,967 | 51,106,332 | 16,829,265 | 115,250,832 | 8,673,715 | 487,597 | |||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||||||||||||||
Investments | 432,381,315 | 76,853,971 | 119,333,578 | 284,624,292 | 109,480,733 | 120,594,740 | 15,161,048 | 70,091,088 | 12,692,575 | 3,508,207 | ||||||||||||||||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS | 415,548,029 | 95,479,789 | 133,478,065 | 377,999,274 | 117,228,700 | 171,701,072 | 31,990,313 | 185,341,920 | 21,366,290 | 3,995,804 | ||||||||||||||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 478,175,592 | $ | 94,690,173 | $ | 146,576,294 | $ | 381,455,151 | $ | 119,974,520 | $ | 172,711,266 | $ | 32,717,089 | $ | 189,354,243 | $ | 21,730,908 | $ | 6,718,091 | ||||||||||||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF CHANGES IN NET ASSETS
STATEMENTS OF CHANGES IN NET ASSETS
SPDR Dow Jones Total Market ETF | SPDR Dow Jones Large Cap ETF | SPDR S&P 500 Growth ETF | SPDR S&P 500 Value ETF | SPDR Dow Jones Mid Cap ETF | ||||||||||||||||||||||||||||||||||||
Six Months | Six Months | Six Months | Six Months | Six Months | ||||||||||||||||||||||||||||||||||||
Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | |||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | |||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | $ | 1,667,044 | $ | 3,141,342 | $ | 363,355 | $ | 807,720 | $ | 796,453 | $ | 1,513,200 | $ | 1,996,195 | $ | 2,832,097 | $ | 380,949 | $ | 652,306 | ||||||||||||||||||||
Net realized gain (loss) on investments | 860,689 | 9,339,695 | 616,585 | 3,399,167 | (3,399,709 | ) | (4,604,242 | ) | 8,887,845 | 2,086,094 | 2,621,814 | 7,079,071 | ||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | 36,021,607 | 13,207,884 | 6,940,013 | 2,484,095 | 43,932,211 | 27,447,481 | 18,321,802 | 9,522,554 | 9,807,449 | 673,039 | ||||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 38,549,340 | 25,688,921 | 7,919,953 | 6,690,982 | 41,328,955 | 24,356,439 | 29,205,842 | 14,440,745 | 12,810,212 | 8,404,416 | ||||||||||||||||||||||||||||||
Net equalization credits and charges | (5,751 | ) | (66,559 | ) | 866 | (21,114 | ) | (10,091 | ) | (10,438 | ) | 285,703 | (64,900 | ) | (2,495 | ) | 34,700 | |||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||||||||||||||||||
Net investment income | (1,662,292 | ) | (2,847,842 | ) | (372,900 | ) | (686,927 | ) | (736,966 | ) | (1,419,716 | ) | (2,321,439 | ) | (2,530,451 | ) | (378,587 | ) | (583,347 | ) | ||||||||||||||||||||
Return of capital | — | — | — | — | — | (106,645 | ) | — | — | — | — | |||||||||||||||||||||||||||||
Total distributions to shareholders | (1,662,292 | ) | (2,847,842 | ) | (372,900 | ) | (686,927 | ) | (736,966 | ) | (1,526,361 | ) | (2,321,439 | ) | (2,530,451 | ) | (378,587 | ) | (583,347 | ) | ||||||||||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of shares sold | 16,525,970 | 4,008,327 | 2,558,970 | — | — | 9,200,532 | 53,271,238 | 5,574,789 | 2,886,048 | 26,740,042 | ||||||||||||||||||||||||||||||
Proceeds from reinvestment of distributions | — | 1,069 | — | — | — | 382 | — | 6,519 | — | — | ||||||||||||||||||||||||||||||
Cost of shares redeemed | (7,864,823 | ) | (27,706,657 | ) | (2,535,885 | ) | (10,703,450 | ) | (17,454,188 | ) | (19,564,006 | ) | (11,969,729 | ) | (16,726,716 | ) | (9,777,365 | ) | (12,236,499 | ) | ||||||||||||||||||||
Net income equalization (Note 2) | 5,751 | 66,559 | (866 | ) | 21,114 | 10,091 | 10,438 | (285,703 | ) | 64,900 | 2,495 | (34,700 | ) | |||||||||||||||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | 8,666,898 | (23,630,702 | ) | 22,219 | (10,682,336 | ) | (17,444,097 | ) | (10,352,654 | ) | 41,015,806 | (11,080,508 | ) | (6,888,822 | ) | 14,468,843 | ||||||||||||||||||||||||
Net increase (decrease) in net assets during the period | 45,548,195 | (856,182 | ) | 7,570,138 | (4,699,395 | ) | 23,137,801 | 12,466,986 | 68,185,912 | 764,886 | 5,540,308 | 22,324,612 | ||||||||||||||||||||||||||||
Net assets at beginning of period | 157,381,829 | 158,238,011 | 33,719,590 | 38,418,985 | 167,283,921 | 154,816,935 | 99,985,432 | 99,220,546 | 53,584,898 | 31,260,286 | ||||||||||||||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 202,930,024 | $ | 157,381,829 | $ | 41,289,728 | $ | 33,719,590 | $ | 190,421,722 | $ | 167,283,921 | $ | 168,171,344 | $ | 99,985,432 | $ | 59,125,206 | $ | 53,584,898 | ||||||||||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||||||||||||||||||
Shares sold | 200,000 | 50,000 | 50,000 | — | — | 200,000 | 950,000 | 100,000 | 50,000 | 550,000 | ||||||||||||||||||||||||||||||
Shares issued to shareholders from reinvestment of distributions | — | 14 | — | — | — | 9 | — | 127 | — | — | ||||||||||||||||||||||||||||||
Shares redeemed | (100,000 | ) | (350,000 | ) | (50,000 | ) | (200,000 | ) | (350,000 | ) | (400,000 | ) | (200,000 | ) | (300,000 | ) | (200,000 | ) | (250,000 | ) | ||||||||||||||||||||
Net increase (decrease) | 100,000 | (299,986 | ) | — | (200,000 | ) | (350,000 | ) | (199,991 | ) | 750,000 | (199,873 | ) | (150,000 | ) | 300,000 | ||||||||||||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | 4,752 | $ | — | $ | (246 | ) | $ | 9,299 | $ | 59,487 | $ | — | $ | (325,244 | ) | $ | — | $ | 2,362 | $ | — | ||||||||||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF CHANGES IN NET ASSETS (continued)
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR S&P 400 Mid Cap Growth ETF | SPDR S&P 400 Mid Cap Value ETF | SPDR S&P 600 Small Cap ETF | SPDR S&P 600 Small Cap Growth ETF | SPDR S&P 600 Small Cap Value ETF | ||||||||||||||||||||||||||||||||||||
Six Months | Six Months | Six Months | Six Months | Six Months | ||||||||||||||||||||||||||||||||||||
Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | |||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | |||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | $ | 146,019 | $ | 360,490 | $ | 407,767 | $ | 452,818 | $ | 410,701 | $ | 485,868 | $ | 443,740 | $ | 396,948 | $ | 1,577,999 | $ | 2,481,503 | ||||||||||||||||||||
Net realized gain (loss) on investments | 17,333,642 | 11,349,157 | 3,519,926 | 2,173,270 | 11,373,981 | 2,732,059 | 22,383,532 | 15,592,086 | 5,795,545 | 5,826,593 | ||||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | 413,948 | 1,974,258 | 2,190,623 | 492,172 | 1,680,241 | 1,842,679 | 15,728,565 | 7,037,084 | 21,131,111 | 7,387,783 | ||||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 17,893,609 | 13,683,905 | 6,118,316 | 3,118,260 | 13,464,923 | 5,060,606 | 38,555,837 | 23,026,118 | 28,504,655 | 15,695,879 | ||||||||||||||||||||||||||||||
Net equalization credits and charges | (5,551 | ) | 6,295 | (11,010 | ) | 31,075 | (14,212 | ) | 9,571 | (7,779 | ) | (2,933 | ) | (128,569 | ) | 112,152 | ||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||||||||||||||||||
Net investment income | (130,218 | ) | (336,733 | ) | (409,170 | ) | (343,535 | ) | (411,310 | ) | (417,233 | ) | (334,570 | ) | (274,192 | ) | (1,581,959 | ) | (2,166,551 | ) | ||||||||||||||||||||
Net realized gains | — | — | — | — | (40,489 | ) | — | — | — | — | — | |||||||||||||||||||||||||||||
Return of capital | — | — | — | (90,297 | ) | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Total distributions to shareholders | (130,218 | ) | (336,733 | ) | (409,170 | ) | (433,832 | ) | (451,799 | ) | (417,233 | ) | (334,570 | ) | (274,192 | ) | (1,581,959 | ) | (2,166,551 | ) | ||||||||||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of shares sold | 74,110,804 | 28,312,177 | 14,116,869 | 11,148,493 | 68,852,125 | 27,020,195 | 183,345,523 | 45,544,872 | — | 70,829,870 | ||||||||||||||||||||||||||||||
Proceeds from reinvestment of distributions | — | — | — | — | — | 636 | — | — | — | 519 | ||||||||||||||||||||||||||||||
Cost of shares redeemed | (80,819,234 | ) | (24,675,907 | ) | (12,936,659 | ) | (2,492,106 | ) | (67,531,880 | ) | (2,745,243 | ) | (170,954,607 | ) | (38,427,904 | ) | (35,034,570 | ) | (11,681,156 | ) | ||||||||||||||||||||
Net income equalization (Note 2) | 5,551 | (6,295 | ) | 11,010 | (31,075 | ) | 14,212 | (9,571 | ) | 7,779 | 2,933 | 128,569 | (112,152 | ) | ||||||||||||||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | (6,702,879 | ) | 3,629,975 | 1,191,220 | 8,625,312 | 1,334,457 | 24,266,017 | 12,398,695 | 7,119,901 | (34,906,001 | ) | 59,037,081 | ||||||||||||||||||||||||||||
Net increase (decrease) in net assets during the period | 11,054,961 | 16,983,442 | 6,889,356 | 11,340,815 | 14,333,369 | 28,918,961 | 50,612,183 | 29,868,894 | (8,111,874 | ) | 72,678,561 | |||||||||||||||||||||||||||||
Net assets at beginning of period | 59,922,701 | 42,939,259 | 20,164,304 | 8,823,489 | 51,570,387 | 22,651,426 | 123,946,160 | 94,077,266 | 142,563,895 | 69,885,334 | ||||||||||||||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 70,977,662 | $ | 59,922,701 | $ | 27,053,660 | $ | 20,164,304 | $ | 65,903,756 | $ | 51,570,387 | $ | 174,558,343 | $ | 123,946,160 | $ | 134,452,021 | $ | 142,563,895 | ||||||||||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||||||||||||||||||
Shares sold | 1,000,000 | 500,000 | 300,000 | 250,000 | 1,050,000 | 500,000 | 1,700,000 | 550,000 | — | 1,150,000 | ||||||||||||||||||||||||||||||
Shares issued to shareholders from reinvestment of distributions | — | — | — | — | — | 14 | — | — | — | 11 | ||||||||||||||||||||||||||||||
Shares redeemed | (1,100,000 | ) | (400,000 | ) | (250,000 | ) | (50,000 | ) | (1,050,000 | ) | (50,000 | ) | (1,600,000 | ) | (450,000 | ) | (600,000 | ) | (200,000 | ) | ||||||||||||||||||||
Net increase (decrease) | (100,000 | ) | 100,000 | 50,000 | 200,000 | — | 450,014 | 100,000 | 100,000 | (600,000 | ) | 950,011 | ||||||||||||||||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | 15,801 | $ | — | $ | (1,403 | ) | $ | — | $ | (609 | ) | $ | — | $ | 109,170 | $ | — | $ | (3,960 | ) | $ | — | |||||||||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF CHANGES IN NET ASSETS (continued)
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR DJ Global Titans ETF | SPDR Dow Jones REIT ETF | SPDR KBW Bank ETF | SPDR KBW Capital Markets ETF | SPDR KBW Insurance ETF | ||||||||||||||||||||||||||||||||||||
Six Months | Six Months | Six Months | Six Months | Six Months | ||||||||||||||||||||||||||||||||||||
Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | |||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | |||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | $ | 884,773 | $ | 2,211,817 | $ | 22,760,433 | $ | 32,892,533 | $ | 2,528,071 | $ | 6,790,283 | $ | 997,547 | $ | 516,199 | $ | 1,888,896 | $ | 2,797,067 | ||||||||||||||||||||
Net realized gain (loss) on investments and foreign currency transactions | (173,836 | ) | (1,043,876 | ) | (3,692,734 | ) | 16,930,091 | (21,167,236 | ) | (106,254,886 | ) | (3,955,288 | ) | (1,899,923 | ) | (225,485 | ) | 52,555,508 | ||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments and foreign currency transactions | 17,397,233 | 1,095,842 | 221,783,449 | 399,282,859 | 176,115,466 | 291,659,717 | 14,832,425 | (3,207,807 | ) | 33,790,636 | (16,314,785 | ) | ||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 18,108,170 | 2,263,783 | 240,851,148 | 449,105,483 | 157,476,301 | 192,195,114 | 11,874,684 | (4,591,531 | ) | 35,454,047 | 39,037,790 | |||||||||||||||||||||||||||||
Net equalization credits and charges | 67,200 | 17,869 | 36,412 | 164,495 | 659,068 | (176,622 | ) | (133,980 | ) | (17,073 | ) | 146,403 | (101,298 | ) | ||||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||||||||||||||||||
Net investment income | (917,427 | ) | (2,385,772 | ) | (22,513,696 | ) | (39,979,713 | ) | (3,465,103 | ) | (5,999,307 | ) | (880,865 | ) | (531,108 | ) | (2,288,633 | ) | (2,248,293 | ) | ||||||||||||||||||||
Return of capital | — | — | — | — | — | — | — | (38,636 | ) | — | — | |||||||||||||||||||||||||||||
Total distributions to shareholders | (917,427 | ) | (2,385,772 | ) | (22,513,696 | ) | (39,979,713 | ) | (3,465,103 | ) | (5,999,307 | ) | (880,865 | ) | (569,744 | ) | (2,288,633 | ) | (2,248,293 | ) | ||||||||||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of shares sold | 27,954,918 | 25,094,840 | 68,795,490 | 246,436,111 | 3,594,550,748 | 4,933,818,379 | 68,179,335 | 128,053,871 | 368,752,694 | 1,044,508,103 | ||||||||||||||||||||||||||||||
Proceeds from reinvestment of distributions | — | 6,996 | — | 96,560 | — | 2,258 | — | — | — | — | ||||||||||||||||||||||||||||||
Cost of shares redeemed | (2,544,022 | ) | (16,031,681 | ) | (57,283,957 | ) | (427,091,247 | ) | (2,518,578,544 | ) | (5,195,025,826 | ) | (53,714,976 | ) | (151,773,519 | ) | (331,233,427 | ) | (1,056,530,039 | ) | ||||||||||||||||||||
Net income equalization (Note 2) | (67,200 | ) | (17,869 | ) | (36,412 | ) | (164,495 | ) | (659,068 | ) | 176,622 | 133,980 | 17,073 | (146,403 | ) | 101,298 | ||||||||||||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | 25,343,696 | 9,052,286 | 11,475,121 | (180,723,071 | ) | 1,075,313,136 | (261,028,567 | ) | 14,598,339 | (23,702,575 | ) | 37,372,864 | (11,920,638 | ) | ||||||||||||||||||||||||||
Net increase (decrease) in net assets during the period | 42,601,639 | 8,948,166 | 229,848,985 | 228,567,194 | 1,229,983,402 | (75,009,382 | ) | 25,458,178 | (28,880,923 | ) | 70,684,681 | 24,767,561 | ||||||||||||||||||||||||||||
Net assets at beginning of period | 79,870,698 | 70,922,532 | 1,137,457,524 | 908,890,330 | 746,684,220 | 821,693,602 | 51,307,444 | 80,188,367 | 163,972,405 | 139,204,844 | ||||||||||||||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 122,472,337 | $ | 79,870,698 | $ | 1,367,306,509 | $ | 1,137,457,524 | $ | 1,976,667,622 | $ | 746,684,220 | $ | 76,765,622 | $ | 51,307,444 | $ | 234,657,086 | $ | 163,972,405 | ||||||||||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||||||||||||||||||
Shares sold | 500,000 | 450,000 | 1,200,000 | 5,150,000 | 149,850,000 | 210,200,000 | 1,900,000 | 3,550,000 | 9,300,000 | 28,700,000 | ||||||||||||||||||||||||||||||
Shares issued to shareholders from reinvestment of distributions | — | 141 | — | 2,402 | — | 111 | — | — | — | — | ||||||||||||||||||||||||||||||
Shares redeemed | (50,000 | ) | (300,000 | ) | (1,050,000 | ) | (9,600,000 | ) | (106,200,000 | ) | (223,050,000 | ) | (1,550,000 | ) | (4,300,000 | ) | (8,500,000 | ) | (29,300,000 | ) | ||||||||||||||||||||
Net increase (decrease) | 450,000 | 150,141 | 150,000 | (4,447,598 | ) | 43,650,000 | (12,849,889 | ) | 350,000 | (750,000 | ) | 800,000 | (600,000 | ) | ||||||||||||||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | (46,608 | ) | $ | (13,954 | ) | $ | 246,737 | $ | — | $ | (730,170 | ) | $ | 206,862 | $ | 116,682 | $ | — | $ | (152,132 | ) | $ | 247,605 | ||||||||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF CHANGES IN NET ASSETS (continued)
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR KBW Mortgage Finance ETF | SPDR KBW Regional Banking ETF | SPDR Morgan Stanley Technology ETF | SPDR S&P Dividend ETF | SPDR S&P Biotech ETF | ||||||||||||||||||||||||||||||||||||
Six Months | Six Months | Six Months | Six Months | Six Months | ||||||||||||||||||||||||||||||||||||
Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | |||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | |||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | �� | |||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | $ | 18,499 | $ | 96,202 | $ | 4,733,007 | $ | 10,429,493 | $ | 218,157 | $ | 975,398 | $ | 62,627,563 | $ | 48,564,329 | $ | (789,616 | ) | $ | (1,043,811 | ) | ||||||||||||||||||
Net realized gain (loss) on investments | 133,088 | 128,231 | (36,070,572 | ) | (32,547,660 | ) | 4,897,902 | 32,535,189 | (16,833,286 | ) | 70,218,700 | 18,625,818 | 8,834,766 | |||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | 171,434 | 331,479 | 109,260,276 | 81,837,694 | 44,272,798 | (65,026 | ) | 432,381,315 | 12,185,411 | 76,853,971 | (9,261,596 | ) | ||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 323,021 | 555,912 | 77,922,711 | 59,719,527 | 49,388,857 | 33,445,561 | 478,175,592 | 130,968,440 | 94,690,173 | (1,470,641 | ) | |||||||||||||||||||||||||||||
Net equalization credits and charges | (1,069 | ) | (7,981 | ) | (269,084 | ) | 309,976 | 853 | (129,676 | ) | 8,977,340 | 4,253,808 | 89,120 | 28,927 | ||||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||||||||||||||||||
Net investment income | (25,411 | ) | (83,151 | ) | (4,682,975 | ) | (9,108,701 | ) | (310,543 | ) | (863,654 | ) | (73,965,698 | ) | (46,913,443 | ) | — | (12,144 | ) | |||||||||||||||||||||
Net realized gains | (12,065 | ) | (20,025 | ) | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Return of capital | — | — | — | — | — | — | — | (3,991,089 | ) | — | — | |||||||||||||||||||||||||||||
Total distributions to shareholders | (37,476 | ) | (103,176 | ) | (4,682,975 | ) | (9,108,701 | ) | (310,543 | ) | (863,654 | ) | (73,965,698 | ) | (50,904,532 | ) | — | (12,144 | ) | |||||||||||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of shares sold | — | — | 1,855,299,033 | 3,995,293,408 | 6,313,461 | 116,322,534 | 2,885,241,673 | 1,363,995,079 | 187,014,344 | 572,577,812 | ||||||||||||||||||||||||||||||
Proceeds from reinvestment of distributions | — | — | — | 18,590 | — | — | — | 91,126 | — | — | ||||||||||||||||||||||||||||||
Cost of shares redeemed | (2,089,624 | ) | (1,964,417 | ) | (1,838,227,070 | ) | (3,777,647,073 | ) | (19,605,211 | ) | (164,534,759 | ) | (202,050,199 | ) | (153,093,912 | ) | (240,661,616 | ) | (548,742,608 | ) | ||||||||||||||||||||
Net income equalization (Note 2) | 1,069 | 7,981 | 269,084 | (309,976 | ) | (853 | ) | 129,676 | (8,977,340 | ) | (4,253,808 | ) | (89,120 | ) | (28,927 | ) | ||||||||||||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | (2,088,555 | ) | (1,956,436 | ) | 17,341,047 | 217,354,949 | (13,292,603 | ) | (48,082,549 | ) | 2,674,214,134 | 1,206,738,485 | (53,736,392 | ) | 23,806,277 | |||||||||||||||||||||||||
Net increase (decrease) in net assets during the period | (1,804,079 | ) | (1,511,681 | ) | 90,311,699 | 268,275,751 | 35,786,564 | (15,630,318 | ) | 3,087,401,368 | 1,291,056,201 | 41,042,901 | 22,352,419 | |||||||||||||||||||||||||||
Net assets at beginning of period | 3,915,496 | 5,427,177 | 703,213,155 | 434,937,404 | 182,187,915 | 197,818,233 | 1,949,711,366 | 658,655,165 | 450,860,363 | 428,507,944 | ||||||||||||||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 2,111,417 | $ | 3,915,496 | $ | 793,524,854 | $ | 703,213,155 | $ | 217,974,479 | $ | 182,187,915 | $ | 5,037,112,734 | $ | 1,949,711,366 | $ | 491,903,264 | $ | 450,860,363 | ||||||||||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||||||||||||||||||
Shares sold | — | — | 79,050,000 | 172,500,000 | 100,000 | 1,950,000 | 57,750,000 | 29,050,000 | 3,250,000 | 10,200,000 | ||||||||||||||||||||||||||||||
Shares issued to shareholders from reinvestment of distributions | — | — | — | 930 | — | — | — | 2,202 | — | — | ||||||||||||||||||||||||||||||
Shares redeemed | (50,000 | ) | (50,000 | ) | (79,450,000 | ) | (165,750,000 | ) | (350,000 | ) | (2,800,000 | ) | (3,950,000 | ) | (3,200,000 | ) | (4,150,000 | ) | (9,950,000 | ) | ||||||||||||||||||||
Net increase (decrease) | (50,000 | ) | (50,000 | ) | (400,000 | ) | 6,750,930 | (250,000 | ) | (850,000 | ) | 53,800,000 | 25,852,202 | (900,000 | ) | 250,000 | ||||||||||||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | 1,343 | $ | 8,255 | $ | 71,262 | $ | 21,230 | $ | (1,922 | ) | $ | 90,464 | $ | (11,338,135 | ) | $ | — | $ | (789,616 | ) | $ | — | |||||||||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF CHANGES IN NET ASSETS (continued)
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR S&P Oil & Gas | SPDR S&P Oil & Gas | |||||||||||||||||||||||||||||||||||||||
SPDR S&P Homebuilders ETF | SPDR S&P Metals & Mining ETF | Equipment & Services ETF | Exploration & Production ETF | SPDR S&P Pharmaceuticals ETF | ||||||||||||||||||||||||||||||||||||
Six Months | Six Months | Six Months | Six Months | Six Months | ||||||||||||||||||||||||||||||||||||
Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | |||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | |||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | $ | 13,098,229 | $ | 6,760,440 | $ | 3,455,877 | $ | 6,339,337 | $ | 2,745,820 | $ | 1,631,792 | $ | 1,010,194 | $ | 2,674,442 | $ | 726,776 | $ | 749,837 | ||||||||||||||||||||
Net realized gain (loss) on investments | 14,144,487 | 216,882,786 | 93,374,982 | 287,144,069 | 7,747,967 | 16,974,294 | 51,106,332 | 37,122,672 | 16,829,265 | 6,454,294 | ||||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | 119,333,578 | (111,645,587 | ) | 284,624,292 | (172,547,613 | ) | 109,480,733 | 572,380 | 120,594,740 | (25,811,473 | ) | 15,161,048 | 2,489,870 | |||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 146,576,294 | 111,997,639 | 381,455,151 | 120,935,793 | 119,974,520 | 19,178,466 | 172,711,266 | 13,985,641 | 32,717,089 | 9,694,001 | ||||||||||||||||||||||||||||||
Net equalization credits and charges | 872,263 | (345,244 | ) | 84,553 | (348,528 | ) | 200,026 | (50,769 | ) | 237,683 | (438,986 | ) | 5,535 | 82,478 | ||||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||||||||||||||||||
Net investment income | (14,332,299 | ) | (5,921,047 | ) | (4,457,421 | ) | (5,513,546 | ) | (2,968,231 | ) | (1,588,747 | ) | (1,669,064 | ) | (2,159,213 | ) | (731,072 | ) | (713,293 | ) | ||||||||||||||||||||
Net realized gains | — | — | — | — | — | — | — | — | (917,357 | ) | — | |||||||||||||||||||||||||||||
Total distributions to shareholders | (14,332,299 | ) | (5,921,047 | ) | (4,457,421 | ) | (5,513,546 | ) | (2,968,231 | ) | (1,588,747 | ) | (1,669,064 | ) | (2,159,213 | ) | (1,648,429 | ) | (713,293 | ) | ||||||||||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of shares sold | 1,100,911,140 | 3,067,445,168 | 1,869,349,791 | 3,862,984,101 | 137,562,615 | 190,113,399 | 3,611,360,971 | 4,564,766,885 | 71,223,199 | 111,416,544 | ||||||||||||||||||||||||||||||
Proceeds from reinvestment of distributions | — | 221 | — | 5,409 | — | — | — | — | — | 35 | ||||||||||||||||||||||||||||||
Cost of shares redeemed | (1,063,568,694 | ) | (3,028,842,790 | ) | (1,751,751,624 | ) | (3,882,022,370 | ) | (52,490,114 | ) | (157,659,209 | ) | (3,583,686,307 | ) | (4,320,371,018 | ) | (35,835,086 | ) | (17,832,231 | ) | ||||||||||||||||||||
Net income equalization (Note 2) | (872,263 | ) | 345,244 | (84,553 | ) | 348,528 | (200,026 | ) | 50,769 | (237,683 | ) | 438,986 | (5,535 | ) | (82,478 | ) | ||||||||||||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | 36,470,183 | 38,947,843 | 117,513,614 | (18,684,332 | ) | 84,872,475 | 32,504,959 | 27,436,981 | 244,834,853 | 35,382,578 | 93,501,870 | |||||||||||||||||||||||||||||
Net increase (decrease) in net assets during the period | 169,586,441 | 144,679,191 | 494,595,897 | 96,389,387 | 202,078,790 | 50,043,909 | 198,716,866 | 256,222,295 | 66,456,773 | 102,565,056 | ||||||||||||||||||||||||||||||
Net assets at beginning of period | 700,789,740 | 556,110,549 | 698,812,179 | 602,422,792 | 249,144,835 | 199,100,926 | 536,504,355 | 280,282,060 | 143,063,697 | 40,498,641 | ||||||||||||||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 870,376,181 | $ | 700,789,740 | $ | 1,193,408,076 | $ | 698,812,179 | $ | 451,223,625 | $ | 249,144,835 | $ | 735,221,221 | $ | 536,504,355 | $ | 209,520,470 | $ | 143,063,697 | ||||||||||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||||||||||||||||||
Shares sold | 69,950,000 | 193,850,000 | 33,550,000 | 77,250,000 | 4,100,000 | 6,450,000 | 81,200,000 | 111,500,000 | 1,650,000 | 2,800,000 | ||||||||||||||||||||||||||||||
Shares issued to shareholders from reinvestment of distributions | — | 16 | — | 133 | — | — | — | — | — | 1 | ||||||||||||||||||||||||||||||
Shares redeemed | (68,850,000 | ) | (192,150,000 | ) | (31,500,000 | ) | (78,200,000 | ) | (1,750,000 | ) | (5,650,000 | ) | (81,000,000 | ) | (106,600,000 | ) | (800,000 | ) | (450,000 | ) | ||||||||||||||||||||
Net increase (decrease) | 1,100,000 | 1,700,016 | 2,050,000 | (949,867 | ) | 2,350,000 | 800,000 | 200,000 | 4,900,000 | 850,000 | 2,350,001 | |||||||||||||||||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | (872,934 | ) | $ | 361,136 | $ | (33,396 | ) | $ | 968,148 | $ | (202,568 | ) | $ | 19,843 | $ | (238,131 | ) | $ | 420,739 | $ | (4,296 | ) | $ | — | |||||||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF CHANGES IN NET ASSETS (continued)
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR S&P Retail ETF | SPDR S&P Semiconductor ETF | SPDR Wells Fargo Preferred Stock ETF | ||||||||||||||||||||||
Six Months | Six Months | Six Months | For the Period | |||||||||||||||||||||
Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | 9/16/09*- | |||||||||||||||||||
(Unaudited) | 6/30/10 | (Unaudited) | 06/30/10 | (Unaudited) | 6/30/10 | |||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||||||
Net investment income (loss) | $ | 4,012,323 | $ | 6,260,263 | $ | 364,618 | $ | 1,205,234 | $ | 2,722,287 | $ | 2,285,793 | ||||||||||||
Net realized gain (loss) on investments | 115,250,832 | 175,003,072 | 8,673,715 | 43,461,778 | 487,597 | 71,938 | ||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | 70,091,088 | (71,115,463 | ) | 12,692,575 | (25,265,376 | ) | 3,508,207 | (467,094 | ) | |||||||||||||||
Net increase (decrease) in net assets resulting from operations | 189,354,243 | 110,147,872 | 21,730,908 | 19,401,636 | 6,718,091 | 1,890,637 | ||||||||||||||||||
Net equalization credits and charges | 1,593,041 | (2,674,867 | ) | (9,212 | ) | (53,708 | ) | 349,267 | 598,090 | |||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||
Net investment income | (6,011,007 | ) | (3,578,313 | ) | (394,935 | ) | (1,127,385 | ) | (3,369,665 | ) | (2,103,581 | ) | ||||||||||||
Total distributions to shareholders | (6,011,007 | ) | (3,578,313 | ) | (394,935 | ) | (1,127,385 | ) | (3,369,665 | ) | (2,103,581 | ) | ||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||
Proceeds from sale of shares sold | 9,008,425,950 | 18,322,495,681 | 142,251,869 | 200,625,597 | 40,689,409 | 82,648,878 | ||||||||||||||||||
Proceeds from reinvestment of distributions | — | 1,737 | — | — | — | — | ||||||||||||||||||
Cost of shares redeemed | (8,904,842,821 | ) | (18,757,328,795 | ) | (159,069,669 | ) | (217,520,040 | ) | (6,607,120 | ) | (17,096,061 | ) | ||||||||||||
Net income equalization (Note 2) | (1,593,041 | ) | 2,674,867 | 9,212 | 53,708 | (349,267 | ) | (598,090 | ) | |||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | 101,990,088 | (432,156,510 | ) | (16,808,588 | ) | (16,840,735 | ) | 33,733,022 | 64,954,727 | |||||||||||||||
Voluntary contribution from Adviser | — | 11,147 | — | — | — | — | ||||||||||||||||||
Net increase (decrease) in net assets during the period | 286,926,365 | (328,250,671 | ) | 4,518,173 | 1,379,808 | 37,430,715 | 65,339,873 | |||||||||||||||||
Net assets at beginning of period | 689,756,552 | 1,018,007,223 | 104,662,186 | 103,282,378 | 65,339,873 | — | ||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 976,682,917 | $ | 689,756,552 | $ | 109,180,359 | $ | 104,662,186 | $ | 102,770,588 | $ | 65,339,873 | ||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||
Shares sold | 218,150,000 | 504,550,000 | 2,750,000 | 4,450,000 | 900,000 | 1,950,000 | ||||||||||||||||||
Shares issued to shareholders from reinvestment of distributions | — | 58 | — | — | — | — | ||||||||||||||||||
Shares redeemed | (217,300,000 | ) | (521,950,000 | ) | (3,250,000 | ) | (5,000,000 | ) | (150,000 | ) | (400,000 | ) | ||||||||||||
Net increase (decrease) | 850,000 | (17,399,942 | ) | (500,000 | ) | (550,000 | ) | 750,000 | 1,550,000 | |||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | (1,549,799 | ) | $ | 448,885 | $ | 9,425 | $ | 39,742 | $ | (421,243 | ) | $ | 226,135 | ||||||||||
*Commencement of operations |
See accompanying notes to financial statements.
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR Dow Jones Total Market ETF | SPDR Dow Jones Large Cap ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended | Six Months Ended | For the Period | ||||||||||||||||||||||||||||||||||||||||||||||
12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | 11/8/05*- | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 76.77 | $ | 67.33 | $ | 93.41 | $ | 108.50 | $ | 91.82 | $ | 85.26 | $ | 48.17 | $ | 42.69 | $ | 59.55 | $ | 68.91 | $ | 58.17 | $ | 56.03 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | 0.79 | (1) | 1.41 | (1) | 1.66 | (1) | 1.74 | 1.61 | 1.50 | 0.52 | (1) | 0.93 | (1) | 1.09 | (1) | 1.18 | 1.11 | 0.94 | ||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 17.61 | 9.36 | (26.18 | ) | (15.07 | ) | 16.69 | 6.54 | 10.83 | 5.38 | (17.02 | ) | (9.26 | ) | 10.74 | 2.11 | ||||||||||||||||||||||||||||||||
Total from investment operations | 18.40 | 10.77 | (24.52 | ) | (13.33 | ) | 18.30 | 8.04 | 11.35 | 6.31 | (15.93 | ) | (8.08 | ) | 11.85 | 3.05 | ||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | (0.00 | )(3) | (0.03 | ) | 0.09 | 0.03 | — | — | 0.00 | (3) | (0.02 | ) | 0.21 | (0.00 | )(3) | — | — | |||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.79 | ) | (1.30 | ) | (1.65 | ) | (1.79 | ) | (1.62 | ) | (1.48 | ) | (0.53 | ) | (0.81 | ) | (1.14 | ) | (1.18 | ) | (1.11 | ) | (0.91 | ) | ||||||||||||||||||||||||
Net realized gains | — | — | — | — | — | — | — | — | — | (0.10 | ) | — | — | |||||||||||||||||||||||||||||||||||
Total distributions | (0.79 | ) | (1.30 | ) | (1.65 | ) | (1.79 | ) | (1.62 | ) | (1.48 | ) | (0.53 | ) | (0.81 | ) | (1.14 | ) | (1.28 | ) | (1.11 | ) | (0.91 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 94.38 | $ | 76.77 | $ | 67.33 | $ | 93.41 | $ | 108.50 | $ | 91.82 | $ | 58.99 | $ | 48.17 | $ | 42.69 | $ | 59.55 | $ | 68.91 | $ | 58.17 | ||||||||||||||||||||||||
Total return (4) | 24.03 | % | 15.87 | % | (26.18 | )% | (12.36 | )% | 20.06 | % | 9.47 | % | 23.61 | % | 14.67 | % | (26.44 | )% | (11.84 | )% | 20.50 | % | 5.47 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 202,930 | $ | 157,382 | $ | 158,238 | $ | 126,113 | $ | 130,218 | $ | 96,416 | $ | 41,290 | $ | 33,720 | $ | 38,419 | $ | 8,933 | $ | 10,337 | $ | 5,817 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.22 | %(5) | 0.20 | % | 0.21 | % | 0.20 | % | 0.20 | % | 0.21 | % | 0.22 | %(5) | 0.20 | % | 0.23 | % | 0.20 | % | 0.20 | % | 0.21 | %(5) | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 1.82 | %(5) | 1.76 | % | 2.42 | % | 1.74 | % | 1.62 | % | 1.62 | % | 1.92 | %(5) | 1.84 | % | 2.63 | % | 1.80 | % | 1.69 | % | 1.68 | %(5) | ||||||||||||||||||||||||
Portfolio turnover rate (6) | 1 | % | 2 | % | 10 | % | 1 | % | 2 | % | 2 | % | 3 | % | 5 | % | 10 | % | 7 | % | 4 | % | 4 | % |
* | Commencement of operations | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | 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. | |
(3) | Amount is less than $0.005 per share. | |
(4) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | Annualized. | |
(6) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR S&P 500 Growth ETF | SPDR S&P 500 Value ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||
Ended 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | Ended 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06(1) | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 45.21 | $ | 39.70 | $ | 54.02 | $ | 57.36 | $ | 49.05 | $ | 46.27 | $ | 54.02 | $ | 48.38 | $ | 69.18 | $ | 87.77 | $ | 73.15 | $ | 67.72 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | 0.23 | (2) | 0.39 | (2) | 0.52 | (2) | 0.44 | 0.47 | 0.34 | 0.83 | (2) | 1.51 | (2) | 1.93 | (2) | 2.37 | 1.99 | 1.80 | ||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (3) | 11.62 | 5.52 | (14.31 | ) | (3.33 | ) | 8.32 | 2.78 | 10.56 | 5.54 | (20.78 | ) | (18.59 | ) | 14.61 | 5.44 | ||||||||||||||||||||||||||||||||
Total from investment operations | 11.85 | 5.91 | (13.79 | ) | (2.89 | ) | 8.79 | 3.12 | 11.39 | 7.05 | (18.85 | ) | (16.22 | ) | 16.60 | 7.24 | ||||||||||||||||||||||||||||||||
Net equalization credits and charges (2) | (0.00 | )(4) | — | (0.03 | ) | 0.01 | (0.01 | ) | — | 0.12 | (0.03 | ) | 0.07 | (0.09 | ) | 0.02 | — | |||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.22 | ) | (0.37 | ) | (0.50 | ) | (0.46 | ) | (0.47 | ) | (0.34 | ) | (0.87 | ) | (1.38 | ) | (2.02 | ) | (2.28 | ) | (2.00 | ) | (1.81 | ) | ||||||||||||||||||||||||
Return of capital | — | (0.03 | ) | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Total distributions | (0.22 | ) | (0.40 | ) | (0.50 | ) | (0.46 | ) | (0.47 | ) | (0.34 | ) | (0.87 | ) | (1.38 | ) | (2.02 | ) | (2.28 | ) | (2.00 | ) | (1.81 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 56.84 | $ | 45.21 | $ | 39.70 | $ | 54.02 | $ | 57.36 | $ | 49.05 | $ | 64.66 | $ | 54.02 | $ | 48.38 | $ | 69.18 | $ | 87.77 | $ | 73.15 | ||||||||||||||||||||||||
Total return (5) | 26.25 | % | 14.83 | % | (25.58 | )% | (5.04 | )% | 17.96 | % | 6.75 | % | 21.38 | % | 14.39 | % | (27.33 | )% | (18.85 | )% | 22.90 | % | 10.80 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 190,422 | $ | 167,284 | $ | 154,817 | $ | 289,015 | $ | 223,708 | $ | 137,353 | $ | 168,171 | $ | 99,985 | $ | 99,221 | $ | 93,428 | $ | 149,247 | $ | 102,432 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.22 | %(6) | 0.20 | % | 0.20 | % | 0.20 | % | 0.20 | % | 0.21 | % | 0.22 | %(6) | 0.20 | % | 0.21 | % | 0.20 | % | 0.20 | % | 0.21 | % | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 0.89 | %(6) | 0.83 | % | 1.27 | % | 0.81 | % | 0.92 | % | 0.74 | % | 2.74 | %(6) | 2.66 | % | 3.73 | % | 2.80 | % | 2.44 | % | 2.52 | % | ||||||||||||||||||||||||
Portfolio turnover rate (7) | 47 | % | 15 | % | 32 | % | 14 | % | 15 | % | 43 | % | 44 | % | 15 | % | 36 | % | 13 | % | 13 | % | 42 | % |
(1) | All share amounts representing data prior to September 21, 2005 have been adjusted for the effect of a 2 for 1 stock split which occurred on September 21, 2005. | |
(2) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(3) | 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. | |
(4) | Amount is less than $0.005 per share. | |
(5) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(6) | Annualized. | |
(7) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR Dow Jones Mid Cap ETF | SPDR S&P 400 Mid Cap Growth ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | For the Period | Six Months | For the Period | |||||||||||||||||||||||||||||||||||||||||||||
Ended 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | 1/8/05*- | Ended 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | 11/8/05*- | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 46.60 | $ | 36.78 | $ | 52.05 | $ | 62.63 | $ | 53.16 | $ | 49.18 | $ | 57.07 | $ | 45.20 | $ | 62.82 | $ | 68.88 | $ | 58.22 | $ | 53.95 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | 0.38 | (1) | 0.69 | (1) | 0.74 | (1) | 0.65 | 0.78 | 0.41 | 0.14 | (1) | 0.30 | (1) | 0.33 | (1) | 0.28 | 0.51 | 0.11 | ||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 12.53 | 9.67 | (15.32 | ) | (7.80 | ) | 10.28 | 3.96 | 17.64 | 11.84 | (17.64 | ) | (5.01 | ) | 12.17 | 4.26 | ||||||||||||||||||||||||||||||||
Total from investment operations | 12.91 | 10.36 | (14.58 | ) | (7.15 | ) | 11.06 | 4.37 | 17.78 | 12.14 | (17.31 | ) | (4.73 | ) | 12.68 | 4.37 | ||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | (0.00 | )(3) | 0.04 | 0.06 | (0.01 | ) | — | — | (0.01 | ) | 0.01 | 0.01 | (0.00 | )(3) | — | — | ||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.38 | ) | (0.58 | ) | (0.75 | ) | (0.72 | ) | (0.80 | ) | (0.39 | ) | (0.13 | ) | (0.28 | ) | (0.32 | ) | (0.29 | ) | (0.52 | ) | (0.10 | ) | ||||||||||||||||||||||||
Net realized gains | — | — | — | (2.70 | ) | (0.79 | ) | — | — | — | — | (1.04 | ) | (1.50 | ) | — | ||||||||||||||||||||||||||||||||
Total distributions | (0.38 | ) | (0.58 | ) | (0.75 | ) | (3.42 | ) | (1.59 | ) | (0.39 | ) | (0.13 | ) | (0.28 | ) | (0.32 | ) | (1.33 | ) | (2.02 | ) | (0.10 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 59.13 | $ | 46.60 | $ | 36.78 | $ | 52.05 | $ | 62.63 | $ | 53.16 | $ | 74.71 | $ | 57.07 | $ | 45.20 | $ | 62.82 | $ | 68.88 | $ | 58.22 | ||||||||||||||||||||||||
Total return (4) | 27.75 | % | 28.26 | % | (27.89 | )% | (11.53 | )% | 21.11 | % | 8.92 | % | 31.17 | % | 26.86 | % | (27.51 | )% | (6.85 | )% | 22.22 | % | 8.10 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 59,125 | $ | 53,585 | $ | 31,260 | $ | 20,820 | $ | 25,054 | $ | 15,949 | $ | 70,978 | $ | 59,923 | $ | 42,939 | $ | 43,977 | $ | 24,106 | $ | 20,375 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.27 | %(5) | 0.26 | % | 0.30 | % | 0.25 | % | 0.25 | % | 0.26 | %(5) | 0.29 | %(5) | 0.26 | % | 0.28 | % | 0.25 | % | 0.25 | % | 0.26 | %(5) | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 1.44 | %(5) | 1.47 | % | 2.02 | % | 1.17 | % | 1.41 | % | 1.24 | %(5) | 0.44 | %(5) | 0.52 | % | 0.75 | % | 0.45 | % | 0.83 | % | 0.30 | %(5) | ||||||||||||||||||||||||
Portfolio turnover rate (6) | 12 | % | 31 | % | 58 | % | 45 | % | 40 | % | 25 | % | 82 | % | 45 | % | 74 | % | 59 | % | 55 | % | 34 | % |
* | Commencement of operations | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | 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. | |
(3) | Amount is less than $0.005 per share. | |
(4) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | Annualized. | |
(6) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR S&P 400 Mid Cap Value ETF | SPDR S&P 600 Small Cap ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | For the Period | Six Months | For the Period | |||||||||||||||||||||||||||||||||||||||||||||
Ended 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | 11/8/05*- | Ended 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | 11/8/05*- | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 44.81 | $ | 35.29 | $ | 50.34 | $ | 63.10 | $ | 54.63 | $ | 50.42 | $ | 51.57 | $ | 41.18 | $ | 55.27 | $ | 66.57 | $ | 58.03 | $ | 52.42 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | 0.64 | (1) | 1.17 | (1) | 1.30 | (1) | 1.28 | 1.28 | 0.73 | 0.43 | (1) | 0.67 | (1) | 0.86 | (1) | 0.69 | 0.89 | 0.46 | ||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 9.35 | 9.32 | (14.89 | ) | (12.58 | ) | 9.32 | 4.18 | 14.40 | 10.28 | (14.20 | ) | (11.19 | ) | 9.78 | 5.56 | ||||||||||||||||||||||||||||||||
Total from investment operations | 9.99 | 10.49 | (13.59 | ) | (11.30 | ) | 10.60 | 4.91 | 14.83 | 10.95 | (13.34 | ) | (10.50 | ) | 10.67 | 6.02 | ||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | (0.02 | ) | 0.08 | (0.09 | ) | (0.10 | ) | (0.01 | ) | — | (0.02 | ) | 0.01 | 0.06 | 0.04 | — | — | |||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.67 | ) | (0.85 | ) | (1.37 | ) | (1.36 | ) | (1.29 | ) | (0.70 | ) | (0.44 | ) | (0.57 | ) | (0.81 | ) | (0.84 | ) | (0.99 | ) | (0.41 | ) | ||||||||||||||||||||||||
Net realized gains | — | — | — | — | (0.83 | ) | — | (0.04 | ) | — | — | — | (1.14 | ) | — | |||||||||||||||||||||||||||||||||
Return of capital | — | (0.20 | ) | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Total distributions | (0.67 | ) | (1.05 | ) | (1.37 | ) | (1.36 | ) | (2.12 | ) | (0.70 | ) | (0.48 | ) | (0.57 | ) | (0.81 | ) | (0.84 | ) | (2.13 | ) | (0.41 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 54.11 | $ | 44.81 | $ | 35.29 | $ | 50.34 | $ | 63.10 | $ | 54.63 | $ | 65.90 | $ | 51.57 | $ | 41.18 | $ | 55.27 | $ | 66.57 | $ | 58.03 | ||||||||||||||||||||||||
Total return (3) | 22.32 | % | 29.92 | % | (27.27 | )% | (18.18 | )% | 19.68 | % | 9.76 | % | 28.77 | % | 26.57 | % | (23.98 | )% | (15.76 | )% | 18.70 | % | 11.49 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 27,054 | $ | 20,164 | $ | 8,823 | $ | 10,068 | $ | 18,929 | $ | 8,194 | $ | 65,904 | $ | 51,570 | $ | 22,651 | $ | 13,817 | $ | 9,985 | $ | 26,113 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.28 | %(4) | 0.26 | % | 0.34 | % | 0.25 | % | 0.25 | % | 0.26 | %(4) | 0.28 | %(4) | 0.26 | % | 0.32 | % | 0.25 | % | 0.25 | % | 0.26 | %(4) | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 2.54 | %(4) | 2.56 | % | 3.52 | % | 2.18 | % | 2.10 | % | 2.20 | %(4) | 1.49 | %(4) | 1.27 | % | 2.16 | % | 1.34 | % | 1.18 | % | 1.35 | %(4) | ||||||||||||||||||||||||
Portfolio turnover rate (5) | 71 | % | 50 | % | 73 | % | 51 | % | 45 | % | 29 | % | 86 | % | 20 | % | 28 | % | 24 | % | 16 | % | 10 | % |
* | Commencement of operations | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | 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. | |
(3) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(4) | Annualized. | |
(5) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR S&P 600 Small Cap Growth ETF | SPDR S&P 600 Small Cap Value ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||
Ended 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | Ended 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06(1) | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 82.62 | $ | 67.19 | $ | 90.65 | $ | 104.00 | $ | 87.11 | $ | 75.96 | $ | 55.88 | $ | 43.64 | $ | 57.92 | $ | 75.01 | $ | 65.35 | $ | 59.03 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | 0.29 | (2) | 0.26 | (2) | 0.56 | (2) | 0.42 | 0.20 | 0.23 | 0.73 | (2) | 1.30 | (2) | 1.52 | (2) | 1.25 | 1.62 | 1.40 | (2) | |||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (3) | 26.41 | 15.35 | (23.51 | ) | (11.83 | ) | 16.88 | 11.17 | 13.15 | 11.96 | (14.33 | ) | (16.50 | ) | 9.76 | 8.21 | ||||||||||||||||||||||||||||||||
Total from investment operations | 26.70 | 15.61 | (22.95 | ) | (11.41 | ) | 17.08 | 11.40 | 13.88 | 13.26 | (12.81 | ) | (15.25 | ) | 11.38 | 9.61 | ||||||||||||||||||||||||||||||||
Net equalization credits and charges (2) | (0.01 | ) | — | 0.04 | (0.00 | )(4) | — | — | (0.06 | ) | 0.06 | (0.02 | ) | 0.01 | 0.02 | — | ||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.22 | ) | (0.18 | ) | (0.55 | ) | (0.45 | ) | (0.19 | ) | (0.25 | ) | (0.80 | ) | (1.08 | ) | (1.28 | ) | (1.56 | ) | (1.73 | ) | (1.30 | ) | ||||||||||||||||||||||||
Net realized gains | — | — | — | (1.49 | ) | — | — | — | — | (0.17 | ) | (0.29 | ) | (0.01 | ) | (1.99 | ) | |||||||||||||||||||||||||||||||
Total distributions | (0.22 | ) | (0.18 | ) | (0.55 | ) | (1.94 | ) | (0.19 | ) | (0.25 | ) | (0.80 | ) | (1.08 | ) | (1.45 | ) | (1.85 | ) | (1.74 | ) | (3.29 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 109.09 | $ | 82.62 | $ | 67.19 | $ | 90.65 | $ | 104.00 | $ | 87.11 | $ | 68.90 | $ | 55.88 | $ | 43.64 | $ | 57.92 | $ | 75.01 | $ | 65.35 | ||||||||||||||||||||||||
Total return (5) | 32.32 | % | 23.22 | % | (25.21 | )% | (11.01 | )% | 19.63 | % | 15.02 | % | 24.81 | % | 30.49 | % | (22.20 | )% | (20.46 | )% | 17.64 | % | 16.66 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 174,558 | $ | 123,946 | $ | 94,077 | $ | 86,129 | $ | 88,408 | $ | 78,405 | $ | 134,452 | $ | 142,564 | $ | 69,885 | $ | 89,856 | $ | 120,090 | $ | 101,344 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.28 | %(6) | 0.25 | % | 0.26 | % | 0.25 | % | 0.25 | % | 0.26 | % | 0.28 | %(6) | 0.26 | % | 0.27 | % | 0.25 | % | 0.25 | % | 0.26 | % | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 0.62 | %(6) | 0.31 | % | 0.88 | % | 0.46 | % | 0.22 | % | 0.26 | % | 2.37 | %(6) | 2.29 | % | 3.32 | % | 2.12 | % | 2.27 | % | 2.21 | % | ||||||||||||||||||||||||
Portfolio turnover rate (7) | 100 | % | 34 | % | 42 | % | 38 | % | 25 | % | 84 | % | 83 | % | 35 | % | 38 | % | 28 | % | 23 | % | 97 | % |
(1) | All share amounts representing data prior to September 21, 2005 have been adjusted for the effect of a 3 for 1 stock split which occurred on September 21, 2005. | |
(2) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(3) | 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. | |
(4) | Amount is less than $0.005 per share. | |
(5) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(6) | Annualized. | |
(7) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR DJ Global Titans ETF | SPDR Dow Jones REIT ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | |||||||||||||||||||||||||||||||||||||||||||||||
Ended 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | Ended 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06(1) | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 48.39 | $ | 47.27 | $ | 66.79 | $ | 79.11 | $ | 66.98 | $ | 62.88 | $ | 51.05 | $ | 34.00 | $ | 65.40 | $ | 80.93 | $ | 75.98 | $ | 65.56 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | 0.51 | (2) | 1.33 | (2) | 1.64 | (2) | 1.89 | 1.67 | 1.46 | 1.02 | (2) | 1.39 | (2) | 1.91 | (2) | 2.43 | 2.57 | 2.99 | ||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (3) | 9.85 | 1.21 | (19.47 | ) | (12.28 | ) | 12.11 | 4.08 | 9.89 | 17.37 | (31.15 | ) | (14.86 | ) | 6.27 | 10.88 | ||||||||||||||||||||||||||||||||
Total from investment operations | 10.36 | 2.54 | (17.83 | ) | (10.39 | ) | 13.78 | 5.54 | 10.91 | 18.76 | (29.24 | ) | (12.43 | ) | 8.84 | 13.87 | ||||||||||||||||||||||||||||||||
Net equalization credits and charges (2) | 0.04 | 0.01 | (0.09 | ) | 0.03 | — | — | 0.00 | (4) | 0.01 | 0.11 | 0.16 | (0.02 | ) | — | |||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.49 | ) | (1.43 | ) | (1.60 | ) | (1.96 | ) | (1.65 | ) | (1.44 | ) | (1.01 | ) | (1.72 | ) | (2.27 | ) | (3.26 | ) | (3.33 | ) | (3.00 | ) | ||||||||||||||||||||||||
Net realized gains | — | — | — | — | — | — | — | — | — | — | (0.54 | ) | (0.45 | ) | ||||||||||||||||||||||||||||||||||
Total distributions | (0.49 | ) | (1.43 | ) | (1.60 | ) | (1.96 | ) | (1.65 | ) | (1.44 | ) | (1.01 | ) | (1.72 | ) | (2.27 | ) | (3.26 | ) | (3.87 | ) | (3.45 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 58.30 | $ | 48.39 | $ | 47.27 | $ | 66.79 | $ | 79.11 | $ | 66.98 | $ | 60.95 | $ | 51.05 | $ | 34.00 | $ | 65.40 | $ | 80.93 | $ | 75.98 | ||||||||||||||||||||||||
Total return (5) | 21.58 | % | 5.10 | % | (26.89 | )% | (13.28 | )% | 20.72 | % | 8.88 | % | 21.45 | % | 55.42 | % | (44.96 | )% | (15.41 | )% | 11.43 | % | 21.73 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 122,472 | $ | 79,871 | $ | 70,923 | $ | 163,654 | $ | 170,108 | $ | 77,044 | $ | 1,367,307 | $ | 1,137,458 | $ | 908,890 | $ | 1,289,796 | $ | 1,247,893 | $ | 1,049,212 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.52 | %(6) | 0.50 | % | 0.51 | % | 0.50 | % | 0.51 | % | 0.51 | % | 0.26 | %(6) | 0.25 | % | 0.25 | % | (0.25 | )% | 0.25 | % | 0.26 | % | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 1.84 | %(6) | 2.45 | % | 3.20 | % | 2.55 | % | 2.33 | % | 2.11 | % | 3.53 | %(6) | 2.94 | % | 4.58 | % | 2.79 | % | 2.95 | % | 3.57 | % | ||||||||||||||||||||||||
Portfolio turnover rate (7) | 1 | % | 6 | % | 10 | % | 15 | % | 9 | % | 9 | % | 7 | % | 10 | % | 15 | % | 14 | % | 16 | % | 11 | % |
(1) | All share amounts representing data prior to September 21, 2005 have been adjusted for the effect of a 3 for 1 stock split which occurred on September 21, 2005. | |
(2) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(3) | 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. | |
(4) | Amount is less than $0.005 per share. | |
(5) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(6) | Annualized. | |
(7) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR KBW Bank ETF | SPDR KBW Capital Markets ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | For the Period | Six Months | For the Period | |||||||||||||||||||||||||||||||||||||||||||||
Ended 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | 11/8/05*- | Ended 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | 11/8/05*- | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 22.90 | $ | 18.08 | $ | 28.58 | $ | 55.44 | $ | 53.73 | $ | 50.17 | $ | 31.10 | $ | 33.41 | $ | 45.12 | $ | 68.80 | $ | 56.18 | $ | 53.07 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | 0.06 | (1) | 0.18 | (1) | 0.94 | (1) | 1.60 | 2.54 | 0.93 | 0.62 | (1) | 0.22 | (1) | 0.52 | (1) | 0.53 | (1) | 0.41 | 2.63 | |||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 3.01 | 4.80 | (10.67 | ) | (27.35 | ) | 1.64 | 3.52 | 7.28 | (2.27 | ) | (11.79 | ) | (23.68 | ) | 12.60 | 3.09 | |||||||||||||||||||||||||||||||
Total from investment operations | 3.07 | 4.98 | (9.73 | ) | (25.75 | ) | 4.18 | 4.45 | 7.90 | (2.05 | ) | (11.27 | ) | (23.15 | ) | 13.01 | 5.72 | |||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | 0.02 | — | 0.03 | 0.66 | 0.30 | — | (0.08 | ) | (0.01 | ) | (0.03 | ) | 0.10 | (0.04 | ) | — | ||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.07 | ) | (0.16 | ) | (0.80 | ) | (1.77 | ) | (2.77 | ) | (0.89 | ) | (0.54 | ) | (0.23 | ) | (0.41 | ) | (0.63 | ) | (0.35 | ) | (2.61 | ) | ||||||||||||||||||||||||
Return of capital | — | — | — | — | — | — | — | (0.02 | ) | — | — | — | — | |||||||||||||||||||||||||||||||||||
Total distributions | (0.07 | ) | (0.16 | ) | (0.80 | ) | (1.77 | ) | (2.77 | ) | (0.89 | ) | (0.54 | ) | (0.25 | ) | (0.41 | ) | (0.63 | ) | (0.35 | ) | (2.61 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 25.92 | $ | 22.90 | $ | 18.08 | $ | 28.58 | $ | 55.44 | $ | 53.73 | $ | 38.38 | $ | 31.10 | $ | 33.41 | $ | 45.12 | $ | 68.80 | $ | 56.18 | ||||||||||||||||||||||||
Total return (3) | 13.50 | % | 27.55 | % | (34.54 | )% | (46.07 | )% | 8.28 | % | 8.90 | % | 25.19 | % | (6.28 | )% | (24.98 | )% | (33.71 | )% | 23.14 | % | 10.55 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 1,976,668 | $ | 746,684 | $ | 821,694 | $ | 883,280 | $ | 72,068 | $ | 147,756 | $ | 76,766 | $ | 51,307 | $ | 80,188 | $ | 117,300 | $ | 86,003 | $ | 50,559 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.36 | %(4) | 0.35 | % | 0.35 | % | 0.35 | % | 0.35 | % | 0.36 | %(4) | 0.38 | %(4) | 0.35 | % | 0.36 | % | 0.35 | % | 0.35 | % | 0.36 | %(4) | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 0.51 | %(4) | 0.79 | % | 4.29 | % | 4.46 | % | 2.93 | % | 3.06 | %(4) | 3.56 | %(4) | 0.60 | % | 1.65 | % | 0.89 | % | 0.52 | % | 2.42 | %(4) | ||||||||||||||||||||||||
Portfolio turnover rate (5) | 19 | % | 18 | % | 51 | % | 23 | % | 8 | % | 22 | % | 3 | % | 9 | % | 52 | % | 52 | % | 96 | % | 11 | % |
* | Commencement of operations | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | 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. | |
(3) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(4) | Annualized. | |
(5) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR KBW Insurance ETF | SPDR KBW Mortgage Finance ETF | SPDR KBW Regional Banking ETF | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months | For the Period | Six Months | For the Period | Six Months | For the Period | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ended 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | 11/8/05*- | Ended 12/31/10 | Year Ended | 4/29/09*- | Ended 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | 6/19/06*- | ||||||||||||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | (Unaudited) | 6/30/10 | 6/30/09 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | ||||||||||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 35.26 | $ | 26.52 | $ | 40.89 | $ | 59.41 | $ | 51.22 | $ | 52.12 | $ | 39.15 | $ | 36.18 | $ | 41.19 | $ | 23.05 | $ | 18.31 | $ | 26.56 | $ | 45.90 | $ | 48.33 | $ | 48.02 | ||||||||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | 0.43 | (1) | 0.54 | (1) | 0.67 | (1) | 1.02 | (1) | 0.76 | 0.44 | 0.32 | (1) | 0.78 | (1) | 0.15 | (1) | 0.18 | 0.40 | (1) | 0.94 | (1) | 1.43 | 1.84 | 0.02 | ||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 7.83 | 8.67 | (14.55 | ) | (18.56 | ) | 8.17 | (0.93 | ) | 3.53 | 3.18 | (5.02 | ) | 3.33 | 4.66 | (8.04 | ) | (18.58 | ) | (2.40 | ) | 0.29 | ||||||||||||||||||||||||||||||||||||||
Total from investment operations | 8.26 | 9.21 | (13.88 | ) | (17.54 | ) | 8.93 | (0.49 | ) | 3.85 | 3.96 | (4.87 | ) | 3.51 | 5.06 | (7.10 | ) | (17.15 | ) | (0.56 | ) | 0.31 | ||||||||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | 0.03 | (0.02 | ) | 0.14 | 0.12 | (0.02 | ) | — | (0.02 | ) | (0.06 | ) | 0.04 | (0.01 | ) | 0.01 | 0.07 | (0.60 | ) | (0.43 | ) | — | ||||||||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.49 | ) | (0.45 | ) | (0.63 | ) | (1.10 | ) | (0.72 | ) | (0.41 | ) | (0.51 | ) | (0.73 | ) | (0.18 | ) | (0.19 | ) | (0.33 | ) | (1.22 | ) | (1.59 | ) | (1.44 | ) | — | |||||||||||||||||||||||||||||||
Net realized gains | — | — | — | — | — | — | (0.24 | ) | (0.20 | ) | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Total distributions | (0.49 | ) | (0.45 | ) | (0.63 | ) | (1.10 | ) | (0.72 | ) | (0.41 | ) | (0.75 | ) | (0.93 | ) | (0.18 | ) | (0.19 | ) | (0.33 | ) | (1.22 | ) | (1.59 | ) | (1.44 | ) | — | |||||||||||||||||||||||||||||||
Net asset value, end of period | $ | 43.06 | $ | 35.26 | $ | 26.52 | $ | 40.89 | $ | 59.41 | $ | 51.22 | $ | 42.23 | $ | 39.15 | $ | 36.18 | $ | 26.36 | $ | 23.05 | $ | 18.31 | $ | 26.56 | $ | 45.90 | $ | 48.33 | ||||||||||||||||||||||||||||||
Total return (3) | 23.54 | % | 34.65 | % | (33.69 | )% | (29.67 | )% | 17.46 | % | (0.93 | )% | 9.78 | % | 10.67 | % | (11.73 | )% | 15.23 | % | 27.70 | % | (27.94 | )% | (39.51 | )% | (2.16 | )% | 0.66 | % | ||||||||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 234,657 | $ | 163,972 | $ | 139,205 | $ | 63,374 | $ | 59,413 | $ | 35,855 | $ | 2,111 | $ | 3,915 | $ | 5,427 | $ | 793,525 | $ | 703,213 | $ | 434,937 | $ | 709,284 | $ | 128,523 | $ | 99,076 | ||||||||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.36 | %(4) | 0.35 | % | 0.35 | % | 0.35 | % | 0.35 | % | 0.36 | %(4) | 0.36 | %(4) | 0.35 | % | 0.35 | %(4) | 0.36 | %(4) | 0.35 | % | 0.35 | % | 0.35 | % | 0.36 | % | 0.36 | %(4) | ||||||||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 2.15 | %(4) | 1.49 | % | 2.56 | % | 1.99 | % | 1.32 | % | 1.27 | %(4) | 1.60 | %(4) | 1.84 | % | 2.38 | %(4) | 1.54 | %(4) | 1.72 | % | 3.68 | % | 4.04 | % | 2.16 | % | 4.01 | %(4) | ||||||||||||||||||||||||||||||
Portfolio turnover rate (5) | 7 | % | 14 | % | 53 | % | 18 | % | 6 | % | 16 | % | 19 | % | 27 | % | 5 | % | 4 | % | 23 | % | 51 | % | 35 | % | 39 | % | 0 | % |
* | Commencement of operations | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | 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. | |
(3) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(4) | Annualized. | |
(5) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR Morgan Stanley Technology ETF | SPDR S&P Dividend ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | For the Period | ||||||||||||||||||||||||||||||||||||||||||||||
Ended 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | Ended 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | 11/8/05*- | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 51.32 | $ | 44.96 | $ | 55.15 | $ | 61.90 | $ | 49.11 | $ | 46.99 | $ | 45.13 | $ | 37.96 | $ | 44.30 | $ | 62.57 | $ | 55.70 | $ | 53.49 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | 0.06 | (1) | 0.23 | (1) | 0.23 | (1) | 0.15 | 0.05 | 0.03 | 0.90 | (1) | 1.71 | (1) | 1.97 | (1) | 2.19 | (1) | 1.75 | 1.12 | |||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 14.76 | 6.39 | (10.18 | ) | (6.74 | ) | 12.80 | 2.13 | 6.71 | 6.97 | (6.47 | ) | (17.49 | ) | 6.87 | 2.15 | ||||||||||||||||||||||||||||||||
Total from investment operations | 14.82 | 6.62 | (9.95 | ) | (6.59 | ) | 12.85 | 2.16 | 7.61 | 8.68 | (4.50 | ) | (15.30 | ) | 8.62 | 3.27 | ||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | 0.00 | (3) | (0.03 | ) | (0.00 | )(3) | (0.01 | ) | (0.00 | )(3) | — | 0.13 | 0.15 | 0.16 | 0.02 | 0.12 | (0.00 | )(3) | ||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.09 | ) | (0.23 | ) | (0.24 | ) | (0.15 | ) | (0.05 | ) | (0.03 | ) | (0.94 | ) | (1.57 | ) | (2.00 | ) | (2.19 | ) | (1.87 | ) | (1.06 | ) | ||||||||||||||||||||||||
Net realized gains | — | — | — | — | — | — | — | — | — | (0.80 | ) | — | — | |||||||||||||||||||||||||||||||||||
Return of capital | — | — | — | — | (0.01 | ) | (0.01 | ) | — | (0.09 | ) | — | — | — | — | |||||||||||||||||||||||||||||||||
Total distributions | (0.09 | ) | (0.23 | ) | (0.24 | ) | (0.15 | ) | (0.06 | ) | (0.04 | ) | (0.94 | ) | (1.66 | ) | (2.00 | ) | (2.99 | ) | (1.87 | ) | (1.06 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 66.05 | $ | 51.32 | $ | 44.96 | $ | 55.15 | $ | 61.90 | $ | 49.11 | $ | 51.93 | $ | 45.13 | $ | 37.96 | $ | 44.30 | $ | 62.57 | $ | 55.70 | ||||||||||||||||||||||||
Total return (4) | 28.89 | % | 14.62 | % | (17.97 | )% | (10.67 | )% | 26.19 | % | 4.60 | % | 17.19 | % | 23.25 | % | (10.06 | )% | (25.05 | )% | 15.78 | % | 6.16 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 217,974 | $ | 182,188 | $ | 197,818 | $ | 228,870 | $ | 188,811 | $ | 144,873 | $ | 5,037,113 | $ | 1,949,711 | $ | 658,655 | $ | 230,378 | $ | 275,319 | $ | 100,263 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.52 | %(5) | 0.50 | % | 0.50 | % | 0.50 | % | 0.50 | % | 0.51 | % | 0.36 | %(5) | 0.35 | % | 0.35 | % | 0.35 | % | 0.34 | % | 0.30 | %(5) | ||||||||||||||||||||||||
Ratio of expenses to average net assets before waivers | — | % | — | % | — | % | — | % | — | % | — | % | — | % | — | % | — | % | — | % | 0.35 | % | 0.36 | %(5) | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 0.22 | %(5) | 0.42 | % | 0.56 | % | 0.26 | % | 0.09 | % | 0.07 | % | 3.58 | %(5) | 3.70 | % | 5.10 | % | 3.92 | % | 3.11 | % | 3.45 | %(5) | ||||||||||||||||||||||||
Portfolio turnover rate (6) | 11 | % | 17 | % | 19 | % | 24 | % | 22 | % | 23 | % | 45 | % | 44 | % | 105 | % | 48 | % | 41 | % | 25 | % |
* | Commencement of operations | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | 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. | |
(3) | Amount is less than $0.005 per share. | |
(4) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | Annualized. | |
(6) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR S&P Biotech ETF | SPDR S&P Homebuilders ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended | For the Period | Six Months Ended | For the Period | |||||||||||||||||||||||||||||||||||||||||||||
12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | 1/31/06*- | 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | 1/31/06*- | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 51.82 | $ | 50.71 | $ | 57.47 | $ | 50.93 | $ | 45.90 | $ | 49.67 | $ | 14.32 | $ | 11.77 | $ | 16.53 | $ | 30.37 | $ | 33.86 | $ | 46.92 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | (0.09 | )(1) | (0.12 | )(1) | 0.44 | (1) | 0.66 | 0.18 | (0.07 | ) | 0.28 | (1) | 0.13 | (1) | 0.24 | (1) | 0.36 | 0.28 | 0.07 | |||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 11.32 | 1.23 | (7.23 | ) | 6.59 | 5.04 | (3.70 | ) | 3.04 | 2.55 | (4.72 | ) | (13.82 | ) | (3.49 | ) | (13.06 | ) | ||||||||||||||||||||||||||||||
Total from investment operations | 11.23 | 1.11 | (6.79 | ) | 7.25 | 5.22 | (3.77 | ) | 3.32 | 2.68 | (4.48 | ) | (13.46 | ) | (3.21 | ) | (12.99 | ) | ||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | 0.01 | 0.00 | (3) | 0.00 | (3) | (0.02 | ) | (0.05 | ) | — | 0.02 | (0.01 | ) | 0.01 | (0.06 | ) | 0.01 | (0.00 | )(3) | |||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | — | — | (0.16 | ) | (0.69 | ) | (0.14 | ) | — | (0.27 | ) | (0.12 | ) | (0.29 | ) | (0.32 | ) | (0.29 | ) | (0.07 | ) | |||||||||||||||||||||||||||
Total distributions | — | — | (0.16 | ) | (0.69 | ) | (0.14 | ) | — | (0.27 | ) | (0.12 | ) | (0.29 | ) | (0.32 | ) | (0.29 | ) | (0.07 | ) | |||||||||||||||||||||||||||
Voluntary contribution from Adviser | — | — | 0.19 | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||
Net asset value, end of period | $ | 63.06 | $ | 51.82 | $ | 50.71 | $ | 57.47 | $ | 50.93 | $ | 45.90 | $ | 17.39 | $ | 14.32 | $ | 11.77 | $ | 16.53 | $ | 30.37 | $ | 33.86 | ||||||||||||||||||||||||
Total return (4) | 21.69 | % | 2.20 | % | (11.46 | )%(5) | 14.15 | % | 11.26 | % | (7.59 | )% | 23.41 | % | 22.61 | % | (27.30 | )% | (44.63 | )% | (9.51 | )% | (27.70 | )% | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 491,903 | $ | 450,860 | $ | 428,508 | $ | 264,342 | $ | 106,957 | $ | 29,835 | $ | 870,376 | $ | 700,790 | $ | 556,111 | $ | 535,553 | $ | 331,067 | $ | 165,908 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.36 | %(6) | 0.35 | % | 0.35 | % | 0.35 | % | 0.35 | % | 0.36 | %(6) | 0.37 | %(6) | 0.35 | % | 0.35 | % | 0.35 | % | 0.35 | % | 0.36 | %(6) | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | (0.32 | )%(6) | (0.23 | )% | 0.83 | % | 1.48 | % | 0.51 | % | (0.33 | )%(6) | 3.50 | %(6) | 0.84 | % | 1.84 | % | 1.80 | % | 0.64 | % | 0.34 | %(6) | ||||||||||||||||||||||||
Portfolio turnover rate (7) | 23 | % | 80 | % | 78 | % | 79 | % | 74 | % | 38 | % | 14 | % | 48 | % | 82 | % | 76 | % | 16 | % | 19 | % |
* | Commencement of operations | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | 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. | |
(3) | Amount is less than $0.005 per share. | |
(4) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | If the Adviser had not made a voluntary contribution during the Year Ended 6/30/09, the total return would have been (11.79)%. | |
(6) | Annualized. | |
(7) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR S&P Metals & Mining ETF | SPDR S&P Oil & Gas Equipment & Services ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended | For the Period | Six Months Ended | For the Period | |||||||||||||||||||||||||||||||||||||||||||||
12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | 6/19/06*- | 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | 6/19/06*- | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 45.67 | $ | 37.07 | $ | 94.16 | $ | 62.63 | $ | 50.08 | $ | 43.29 | $ | 25.04 | $ | 21.76 | $ | 50.90 | $ | 36.90 | $ | 31.07 | $ | 27.99 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | 0.22 | (1) | 0.38 | (1) | 0.55 | (1) | 0.39 | 0.39 | 0.02 | 0.27 | (1) | 0.16 | (1) | 0.18 | (1) | 0.11 | 0.08 | 0.00 | (2) | |||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (3) | 23.15 | 8.59 | (57.11 | ) | 31.54 | 12.55 | 6.77 | 11.60 | 3.27 | (29.14 | ) | 14.11 | 5.83 | 3.08 | ||||||||||||||||||||||||||||||||||
Total from investment operations | 23.37 | 8.97 | (56.56 | ) | 31.93 | 12.94 | 6.79 | 11.87 | 3.43 | (28.96 | ) | 14.22 | 5.91 | 3.08 | ||||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | 0.01 | (0.02 | ) | 0.04 | — | (0.03 | ) | — | 0.02 | (0.00 | )(2) | (0.00 | )(2) | (0.00 | )(2) | (0.00 | )(2) | — | ||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.27 | ) | (0.35 | ) | (0.57 | ) | (0.40 | ) | (0.36 | ) | — | (0.25 | ) | (0.15 | ) | (0.18 | ) | (0.12 | ) | (0.08 | ) | — | ||||||||||||||||||||||||||
Net realized gains | — | — | — | — | — | — | — | — | — | (0.10 | ) | — | — | |||||||||||||||||||||||||||||||||||
Total distributions | (0.27 | ) | (0.35 | ) | (0.57 | ) | (0.40 | ) | (0.36 | ) | — | (0.25 | ) | (0.15 | ) | (0.18 | ) | (0.22 | ) | (0.08 | ) | — | ||||||||||||||||||||||||||
Net asset value, end of period | $ | 68.78 | $ | 45.67 | $ | 37.07 | $ | 94.16 | $ | 62.63 | $ | 50.08 | $ | 36.68 | $ | 25.04 | $ | 21.76 | $ | 50.90 | $ | 36.90 | $ | 31.07 | ||||||||||||||||||||||||
Total return (4) | 51.24 | % | 24.08 | % | (59.95 | )% | 51.22 | % | 25.93 | % | 15.70 | % | 47.54 | % | 15.71 | % | (56.87 | )% | 38.61 | % | 19.08 | % | 10.98 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 1,193,408 | $ | 698,812 | $ | 602,423 | $ | 819,193 | $ | 203,540 | $ | 30,050 | $ | 451,224 | $ | 249,145 | $ | 199,101 | $ | 279,948 | $ | 143,927 | $ | 15,535 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.36 | %(5) | 0.35 | % | 0.35 | % | 0.35 | % | 0.35 | % | 0.36 | %(5) | 0.37 | %(5) | 0.35 | % | 0.35 | % | 0.36 | % | 0.35 | % | 0.36 | %(5) | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 0.77 | %(5) | 0.78 | % | 1.43 | % | 0.59 | % | 0.70 | % | 1.65 | %(5) | 1.75 | %(5) | 0.56 | % | 0.75 | % | 0.28 | % | 0.36 | % | 0.17 | %(5) | ||||||||||||||||||||||||
Portfolio turnover rate (6) | 20 | % | 43 | % | 68 | % | 59 | % | 31 | % | 0 | % | 33 | % | 39 | % | 42 | % | 51 | % | 43 | % | 0 | % |
* | Commencement of operations | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Amount is less than $0.005 per share. | |
(3) | 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. | |
(4) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | Annualized. | |
(6) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR S&P Oil & Gas Exploration & Production ETF | SPDR S&P Pharmaceuticals ETF | |||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended | For the Period | Six Months Ended | For the Period | |||||||||||||||||||||||||||||||||||||||||||||
12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | 6/19/06*- | 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | 6/19/06*- | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 39.02 | $ | 31.67 | $ | 70.10 | $ | 45.93 | $ | 39.12 | $ | 33.80 | $ | 38.66 | $ | 30.00 | $ | 31.08 | $ | 35.57 | $ | 31.88 | $ | 31.42 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | 0.08 | (1) | 0.24 | (1) | 0.29 | (1) | 0.13 | 0.10 | 0.00 | (2) | 0.16 | (1) | 0.38 | (1) | 0.45 | (1) | 0.32 | (1) | 0.38 | 0.00 | (2) | |||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (3) | 13.70 | 7.38 | (38.46 | ) | 24.16 | 6.81 | 5.32 | 7.60 | 8.56 | (1.07 | ) | (4.51 | ) | 3.80 | 0.46 | |||||||||||||||||||||||||||||||||
Total from investment operations | 13.78 | 7.62 | (38.17 | ) | 24.29 | 6.91 | 5.32 | 7.76 | 8.94 | (0.62 | ) | (4.19 | ) | 4.18 | 0.46 | |||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | 0.02 | (0.04 | ) | 0.02 | 0.02 | (0.00 | )(2) | — | 0.00 | (2) | 0.04 | 0.03 | 0.03 | — | — | |||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.12 | ) | (0.23 | ) | (0.28 | ) | (0.14 | ) | (0.10 | ) | — | (0.17 | ) | (0.32 | ) | (0.44 | ) | (0.33 | ) | (0.38 | ) | — | ||||||||||||||||||||||||||
Net realized gains | — | — | — | — | — | — | (0.20 | ) | — | (0.05 | ) | — | (0.11 | ) | — | |||||||||||||||||||||||||||||||||
Total distributions | (0.12 | ) | (0.23 | ) | (0.28 | ) | (0.14 | ) | (0.10 | ) | — | (0.37 | ) | (0.32 | ) | (0.49 | ) | (0.33 | ) | (0.49 | ) | — | ||||||||||||||||||||||||||
Net asset value, end of period | $ | 52.70 | $ | 39.02 | $ | 31.67 | $ | 70.10 | $ | 45.93 | $ | 39.12 | $ | 46.05 | $ | 38.66 | $ | 30.00 | $ | 31.08 | $ | 35.57 | $ | 31.88 | ||||||||||||||||||||||||
Total return (4) | 35.40 | % | 23.92 | % | (54.44 | )% | 52.99 | % | 17.68 | % | 15.74 | % | 20.05 | % | 30.00 | % | (1.89 | )% | (11.73 | )% | 13.17 | % | 1.46 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 735,221 | $ | 536,504 | $ | 280,282 | $ | 311,952 | $ | 39,041 | $ | 19,560 | $ | 209,520 | $ | 143,064 | $ | 40,499 | $ | 9,328 | $ | 8,897 | $ | 15,939 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.36 | %(5) | 0.35 | % | 0.35 | % | 0.35 | % | 0.35 | % | 0.36 | %(5) | 0.36 | %(5) | 0.36 | % | 0.36 | % | 0.35 | % | 0.35 | % | 0.36 | %(5) | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 0.37 | %(5) | 0.60 | % | 0.82 | % | 0.28 | % | 0.23 | % | 0.10 | %(5) | 0.74 | %(5) | 1.00 | % | 1.59 | % | 0.97 | % | 0.95 | % | 0.29 | %(5) | ||||||||||||||||||||||||
Portfolio turnover rate (6) | 23 | % | 33 | % | 45 | % | 44 | % | 48 | % | 0 | % | 27 | % | 47 | % | 80 | % | 50 | % | 23 | % | 0 | % |
* | Commencement of operations | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | Amount is less than $0.005 per share. | |
(3) | 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. | |
(4) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | Annualized. | |
(6) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR S&P Retail ETF | SPDR S&P Semiconductor ETF | SPDR Wells Fargo Preferred Stock ETF | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended | For the Period | Six Months Ended | For the Period | Six Months Ended | For the Period | |||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | 6/19/06*- | 12/31/10 | Year Ended | Year Ended | Year Ended | Year Ended | 1/31/06*- | 12/31/10 | 9/16/09*- | |||||||||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | 6/30/06 | (Unaudited) | 6/30/10 | |||||||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 35.65 | $ | 27.70 | $ | 29.26 | $ | 43.54 | $ | 37.61 | $ | 36.72 | $ | 41.86 | $ | 33.86 | $ | 41.62 | $ | 53.22 | $ | 47.29 | $ | 53.32 | $ | 42.15 | $ | 40.00 | ||||||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | 0.28 | (1) | 0.36 | (1) | 0.40 | (1) | 0.37 | 0.11 | 0.01 | 0.19 | (1) | 0.38 | (1) | 0.35 | (1) | 0.24 | 0.16 | 0.02 | 1.50 | (1) | 2.41 | (1) | ||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 12.60 | 8.30 | (1.70 | ) | (14.39 | ) | 5.93 | 0.88 | 12.77 | 8.01 | (7.84 | ) | (11.58 | ) | 5.93 | (6.03 | ) | 2.56 | 0.95 | |||||||||||||||||||||||||||||||||||||
Total from investment operations | 12.88 | 8.66 | (1.30 | ) | (14.02 | ) | 6.04 | 0.89 | 12.96 | 8.39 | (7.49 | ) | (11.34 | ) | 6.09 | (6.01 | ) | 4.06 | 3.36 | |||||||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | 0.11 | (0.16 | ) | (0.01 | ) | (0.09 | ) | 0.02 | — | (0.00 | )(3) | (0.02 | ) | 0.02 | 0.01 | (0.00 | )(3) | — | 0.19 | 0.63 | ||||||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.29 | ) | (0.55 | ) | (0.43 | ) | (0.31 | ) | (0.13 | ) | — | (0.23 | ) | (0.37 | ) | (0.29 | ) | (0.27 | ) | (0.16 | ) | (0.02 | ) | (1.72 | ) | (1.84 | ) | |||||||||||||||||||||||||||||
Total distributions | (0.29 | ) | (0.55 | ) | (0.43 | ) | (0.31 | ) | (0.13 | ) | — | (0.23 | ) | (0.37 | ) | (0.29 | ) | (0.27 | ) | (0.16 | ) | (0.02 | ) | (1.72 | ) | (1.84 | ) | |||||||||||||||||||||||||||||
Voluntary contribution from Adviser | — | 0.00 | (3) | 0.18 | 0.14 | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||
Net asset value, end of period | $ | 48.35 | $ | 35.65 | $ | 27.70 | $ | 29.26 | $ | 43.54 | $ | 37.61 | $ | 54.59 | $ | 41.86 | $ | 33.86 | $ | 41.62 | $ | 53.22 | $ | 47.29 | $ | 44.68 | $ | 42.15 | ||||||||||||||||||||||||||||
Total return (4) | 36.48 | % | 30.67 | %(5) | (3.61 | )%(5) | (32.11 | )%(5) | 16.12 | % | 2.42 | % | 30.98 | % | 24.66 | % | (17.88 | )% | (21.30 | )% | 12.89 | % | (11.26 | )% | 10.06 | % | 10.04 | % | ||||||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 976,683 | $ | 689,757 | $ | 1,018,007 | $ | 263,380 | $ | 134,978 | $ | 20,687 | $ | 109,180 | $ | 104,662 | $ | 103,282 | $ | 39,538 | $ | 106,439 | $ | 47,290 | $ | 102,771 | $ | 65,340 | ||||||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.36 | %(6) | 0.35 | % | 0.35 | % | 0.35 | % | 0.35 | % | 0.36 | %(6) | 0.37 | %(6) | 0.35 | % | 0.35 | % | 0.35 | % | 0.35 | % | 0.36 | %(6) | 0.46 | %(6) | 0.45 | %(6) | ||||||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 1.34 | %(6) | 0.99 | % | 1.61 | % | 1.40 | % | 0.35 | % | 0.82 | %(6) | 0.83 | %(6) | 0.87 | % | 1.12 | % | 0.52 | % | 0.35 | % | 0.10 | %(6) | 6.60 | %(6) | 7.25 | %(6) | ||||||||||||||||||||||||||||
Portfolio turnover rate (7) | 32 | % | 26 | % | 69 | % | 50 | % | 71 | % | 0 | % | 26 | % | 19 | % | 41 | % | 65 | % | 52 | % | 40 | % | 9 | % | 22 | % |
* | Commencement of operations | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | 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. | |
(3) | Amount is less than $0.005 per share. | |
(4) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | If the Adviser had not made a voluntary contribution during the Year Ended 6/30/10, the total return would have decreased by less than 0.005%. If the Adviser had not made a voluntary contribution during the Year Ended 6/30/09, the total return would have been (3.62)%. If the Adviser had not made a voluntary contribution during the Year Ended 6/30/08, the total return would have been (32.44)%. | |
(6) | Annualized. | |
(7) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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NOTES TO FINANCIAL STATEMENTS
NOTES TO FINANCIAL STATEMENTS
December 31, 2010 (Unaudited)
1. | Organization |
SPDR Series Trust (the “Trust”), which is registered under the Investment Company Act of 1940, as amended (“1940 Act”), is an open-end investment management company that was organized as a Massachusetts business trust on June 12, 1998.
As of December 31, 2010, the Trust offered forty-nine (49) portfolios, each of which represents a separate series of beneficial interest in the Trust (each referred to as a “Fund”, collectively as the “Funds”). The financial statements herein relate to the following twenty-eight (28) Funds: SPDR Dow Jones Total Market ETF, SPDR Dow Jones Large Cap ETF, SPDR S&P 500 Growth ETF, SPDR S&P 500 Value ETF, SPDR Dow Jones Mid Cap ETF, SPDR S&P 400 Mid Cap Growth ETF, SPDR S&P 400 Mid Cap Value ETF, SPDR S&P 600 Small Cap ETF, SPDR S&P 600 Small Cap Growth ETF, SPDR S&P 600 Small Cap Value ETF, SPDR DJ Global Titans ETF, SPDR Dow Jones REIT ETF, SPDR KBW Bank ETF, SPDR KBW Capital Markets ETF, SPDR KBW Insurance ETF, SPDR KBW Mortgage Finance ETF, SPDR KBW Regional Banking ETF, SPDR Morgan Stanley Technology ETF, SPDR S&P Dividend ETF, SPDR S&P Biotech ETF, SPDR S&P Homebuilders ETF, SPDR S&P Metals & Mining ETF, SPDR S&P Oil & Gas Equipment & Services ETF, SPDR S&P Oil & Gas Exploration & Production ETF, SPDR S&P Pharmaceuticals ETF, SPDR S&P Retail ETF, SPDR S&P Semiconductor ETF and SPDR Wells Fargo Preferred Stock ETF. Each Fund operates as a non-diversified investment company. The other twenty-one (21) Funds are included in a separate Semi-Annual Report.
Under the Trust’s organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown as this could involve future claims that may be made against the Trust that have not yet occurred. However, based on experience, the Trust expects the risk of loss to be remote.
The Trust invests in various investments which are exposed to risks, such as market risk. Due to the level of risk associated with certain investments it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the financial statements.
An investment in a Fund involves risks similar to those of investing in any fund of equity securities, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates and perceived trends in stock prices. The value of each Fund’s shares will decline, more or less, in correlation with any decline in the value of the Fund’s benchmark index. The values of equity securities could decline generally or could underperform other investments. Generally, a Fund will not sell an equity security because the security’s issuer is in financial trouble, unless that security is removed from the Fund’s respective benchmark index.
2. | Significant Accounting Policies |
The following is a summary of significant accounting policies followed by the Trust in the preparation of its financial statements:
The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.
Security Valuation
The value of each Fund’s portfolio securities is based on the market price of the securities, which generally means a valuation obtained from an exchange or other market (or based on a price quotation or other equivalent indication of value supplied by an exchange or other market) or a valuation obtained from an independent pricing service. Investments in open-end investment companies are valued at their net asset value each business day. If a security’s market price is not readily available or does not otherwise accurately reflect the fair value of the security, the security will be valued by another method that the Board of Trustees of the Trust (the “Board”) believes will better reflect fair value in accordance with the Trust’s valuation policies and procedures. The Board has delegated the process of valuing securities for which market quotations are not readily available or do not otherwise accurately reflect the fair value of
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December 31, 2010 (Unaudited)
the security to the Pricing and Investment Committee (the “Committee”). The Committee, subject to oversight by the Board, may use fair value pricing in a variety of circumstances, including but not limited to, situations when trading in a security has been suspended or halted. Accordingly, a Fund’s net asset value may reflect certain portfolio securities’ fair values rather than their market prices. Fair value pricing involves subjective judgments and it is possible that the fair value determination for a security is materially different than the value that could be received on the sale of the security.
The Funds continue to follow the authoritative guidance for fair value measurements and the fair value option for financial assets and financial liabilities. The guidance for the fair value option for financial assets and financial liabilities provides funds the irrevocable option to measure many financial assets and liabilities at fair value with changes in fair value recognized in earnings. The guidance also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The guidance establishes three levels of inputs that may be used to measure fair value:
• | Level 1 — quoted prices in active markets for identical investments. |
• | Level 2 — other significant observable inputs (including, but not limited to, quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.). |
• | Level 3 — significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments). |
Investments that use Level 2 or Level 3 inputs may include, but are not limited to: (i) an unlisted security related to corporate actions; (ii) a restricted security (e.g., one that may not be publicly sold without registration under the Securities Act of 1933, as amended); (iii) a security whose trading has been suspended or which has been de-listed from its primary trading exchange; (iv) a security that is thinly traded; (v) a security in default or bankruptcy proceedings for which there is no current market quotation; (vi) a security affected by currency controls or restrictions; and (vii) a security affected by a significant event (e.g., an event that occurs after the close of the markets on which the security is traded but before the time as of which the Funds’ net assets are computed and that may materially affect the value of the Funds’ investments). Examples of events that may be “significant events” are government actions, natural disasters, armed conflict, acts of terrorism, and significant market fluctuations.
Fair value pricing could result in a difference between the prices used to calculate a Fund’s net asset value and the prices used by the Fund’s benchmark index, which, in turn, could result in a difference between the Fund’s performance and the performance of the Fund’s benchmark index. The inputs or methodology used for valuation are not necessarily an indication of the risk associated with investing in those investments.
The type of inputs used to value each security is identified in the Schedule of Investments, which also includes a breakdown of the Funds’ investments by industry. For SPDR DJ Global Titans ETF, the type of inputs used to value each security is identified in the Portfolio Summary in the Industry Breakdown table.
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NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 2010 (Unaudited)
The following table summarizes the inputs used in valuing the Funds’ investments, as of December 31, 2010:
Level 2 — | Level 3 — | |||||||||||||||||||
Level 1 — | Other Significant | Significant | ||||||||||||||||||
Quoted | Observable | Unobservable | ||||||||||||||||||
SPDR Series Trust | Prices | Inputs | Inputs | Total | ||||||||||||||||
SPDR Dow Jones Total Market ETF | $ | 211,630,421 | $ | — | $ | — | $ | 211,630,421 | ||||||||||||
SPDR Dow Jones Large Cap ETF | 44,253,268 | — | — | 44,253,268 | ||||||||||||||||
SPDR S&P 500 Growth ETF | 192,655,975 | — | — | 192,655,975 | ||||||||||||||||
SPDR S&P 500 Value ETF | 171,755,614 | — | — | 171,755,614 | ||||||||||||||||
SPDR Dow Jones Mid Cap ETF | 75,525,444 | — | — | 75,525,444 | ||||||||||||||||
SPDR S&P 400 Mid Cap Growth ETF | 73,152,835 | — | — | 73,152,835 | ||||||||||||||||
SPDR S&P 400 Mid Cap Value ETF | 34,154,793 | — | — | 34,154,793 | ||||||||||||||||
SPDR S&P 600 Small Cap ETF | 83,643,332 | —* | — | 83,643,332 | ||||||||||||||||
SPDR S&P 600 Small Cap Growth ETF | 196,303,623 | —* | — | 196,303,623 | ||||||||||||||||
SPDR S&P 600 Small Cap Value ETF | 147,284,577 | — | — | 147,284,577 | ||||||||||||||||
SPDR DJ Global Titans ETF | 126,765,612 | — | — | 126,765,612 | ||||||||||||||||
SPDR Dow Jones REIT ETF | 1,490,781,004 | — | — | 1,490,781,004 | ||||||||||||||||
SPDR KBW Bank ETF | 2,163,857,796 | — | — | 2,163,857,796 | ||||||||||||||||
SPDR KBW Capital Markets ETF | 81,892,875 | — | — | 81,892,875 | ||||||||||||||||
SPDR KBW Insurance ETF | 241,111,780 | — | — | 241,111,780 | ||||||||||||||||
SPDR KBW Mortgage Finance ETF | 2,722,290 | — | — | 2,722,290 | ||||||||||||||||
SPDR KBW Regional Banking ETF | 900,968,759 | — | — | 900,968,759 | ||||||||||||||||
SPDR Morgan Stanley Technology ETF | 229,469,511 | — | — | 229,469,511 | ||||||||||||||||
SPDR S&P Dividend ETF | 5,510,760,209 | — | — | 5,510,760,209 | ||||||||||||||||
SPDR S&P Biotech ETF | 569,578,274 | — | — | 569,578,274 | ||||||||||||||||
SPDR S&P Homebuilders ETF | 976,439,618 | — | — | 976,439,618 | ||||||||||||||||
SPDR S&P Metals & Mining ETF | 1,293,665,747 | — | — | 1,293,665,747 | ||||||||||||||||
SPDR S&P Oil & Gas Equipment & Services ETF | 472,055,266 | — | — | 472,055,266 | ||||||||||||||||
SPDR S&P Oil & Gas Exploration & Production ETF | 778,236,460 | — | — | 778,236,460 | ||||||||||||||||
SPDR S&P Pharmaceuticals ETF | 220,819,270 | — | — | 220,819,270 | ||||||||||||||||
SPDR S&P Retail ETF | 1,042,987,477 | — | — | 1,042,987,477 | ||||||||||||||||
SPDR S&P Semiconductor ETF | 115,796,550 | — | — | 115,796,550 | ||||||||||||||||
SPDR Wells Fargo Preferred Stock ETF | 115,556,845 | — | — | 115,556,845 |
* | Fund held Level 2 securities that were valued at $0 at December 31, 2010. |
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NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 2010 (Unaudited)
The following table provides the reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value at December 31, 2010:
Net Change in | ||||||||||||||||||||||||||||
Unrealized | ||||||||||||||||||||||||||||
Realized | Appreciation/ | |||||||||||||||||||||||||||
Gain (Loss) | (Depreciation) | |||||||||||||||||||||||||||
Accrued | and Change in | from | ||||||||||||||||||||||||||
Discounts | Unrealized | Net | Net | Investments | ||||||||||||||||||||||||
Balance at | (Amortized | Appreciation/ | Purchases/ | Transfers | Balance at | Still Held at | ||||||||||||||||||||||
6/30/10 | Premiums) | (Depreciation) | (Sales) | in or out | 12/31/10 | 12/31/10 | ||||||||||||||||||||||
SPDR S&P 600 Small Cap ETF | $ | —* | $ | — | $ | — | $ | — | $ | —* | $ | — | $ | — | ||||||||||||||
SPDR S&P 600 Small Cap Value ETF | $ | —* | $ | — | $ | — | $ | — | $ | —* | $ | — | $ | — |
* | Included in this amount are Level 3 securities that were valued at $0. |
Investment Income
Dividend income is recorded on the ex-dividend date. Interest income, if any, is recorded on the accrual basis. The value of additional securities received as dividend payments is recorded as income and as an increase to the cost basis of such securities.
Expenses
Advisory fees and other expenses, which are directly identifiable to a specific Fund, are applied to that Fund. Certain Funds, based on their investments, may incur a tax liability in the states where the investments have business operations. The taxes incurred will increase the total expenses of the Funds and are included in miscellaneous expenses on the Statements of Operations. Trustees’ fees and other expenses which cannot be attributed to a Fund are allocated in such a manner as deemed equitable, taking into consideration the relative net assets of the Funds.
Equalization
The Funds follow the accounting practice known as “Equalization” by which a portion of the proceeds from sales and costs of reacquiring Fund shares, equivalent on a per share basis to the amount of distributable net investment income on the date of the transaction, is credited or charged to undistributed net investment income. As a result, undistributed net investment income per share is unaffected by sales or reacquisition of Fund shares. Amounts related to Equalization can be found on the Statements of Changes.
Investment Transactions
Investment transactions are recorded on the trade date. Realized gains and losses from the sale or disposition of securities and foreign exchange transactions are recorded on the identified cost basis. Corporate actions (including cash dividends) are recorded net of foreign tax withholdings on the ex-dividend date.
Foreign Currency Translation and Foreign Investments
The accounting records of the Funds are maintained in U.S. dollars. Portfolio securities and other assets and liabilities denominated in a foreign currency are translated to U.S. dollars at the prevailing rates of exchange at period end. Purchases and sales of securities, income receipts and expense payments are translated into U.S. dollars at the prevailing exchange rate on the respective dates of transactions. The effects of changes in foreign currency exchange rates on portfolio investments are included in the net realized and unrealized gains and losses on investments and foreign currency transactions on the Statements of Operations. Net gains and losses on foreign currency transactions include disposition of foreign currencies, and currency gains and losses between the accrual and receipt dates of portfolio investment income and between the trade and settlement dates of portfolio investment transactions.
Investing in securities of foreign companies and foreign governments involves special risks and considerations not typically associated with investing in U.S. companies and securities of the U.S. government. These risks include revaluation of currencies and the risk of expropriation. Moreover, the markets for securities of many foreign companies
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NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 2010 (Unaudited)
and foreign governments may be less liquid and the prices of such securities may be more volatile than those of comparable U.S. companies and the U.S. government.
Some foreign markets in which the Funds invest are considered emerging markets. Investment in these emerging markets subjects a Fund to a greater risk of loss than investments in a developed market. This is due to, among other things, greater market volatility, lower trading volume, political and economic instability, higher levels of inflation, deflation or currency devaluation, greater risk of market shut down, and more governmental limitations on foreign investment policy than those typically found in a developed market.
Federal Income Tax
The Funds have qualified and intend to continue to qualify for and elect treatment as “regulated investment companies” under Subchapter M of the Internal Revenue Code of 1986, as amended. By so qualifying and electing, each Fund will not be subject to federal income taxes to the extent it distributes its taxable income, including any net realized capital gains, for each fiscal year. In addition, by distributing during each calendar year substantially all of their net investment income and capital gains, if any, the Funds will not be subject to federal excise tax. Income and capital gain distributions are determined in accordance with income tax regulations which may differ from U.S. generally accepted accounting principles. These book-tax differences are primarily due to differing treatments for tax equalization, in-kind transactions, foreign currencies, Real Estate Investment Trusts (REITs) and losses deferred due to wash sales.
Additionally, based on the Funds’ understanding of the tax rules and rates related to income, gains and transactions for the foreign jurisdictions in which the applicable Funds invest, the Funds will provide for foreign taxes and, where appropriate, deferred foreign taxes.
The Funds have reviewed the tax positions for the open tax years as of June 30, 2010 and have determined that no provision for income tax is required in the Funds’ Financial Statements. The Funds’ federal tax returns for the prior three fiscal years remain subject to examination by the Funds’ major tax jurisdictions, which include the United States of America and the Commonwealth of Massachusetts. The Funds recognized interest and penalties, if any, related to tax liabilities as income tax expense in the Statements of Operations.
For the six months ended December 31, 2010, the following Funds reclassified non-taxable security gains and losses realized on the in-kind redemption of Creation Units (Note 4) as an increase or decrease to paid in capital in the Statements of Assets and Liabilities as follows:
Net Gain (Loss) | ||||
Reclassified | ||||
to Paid in Capital | ||||
SPDR Dow Jones Total Market ETF | $ | 2,367,649 | ||
SPDR Dow Jones Large Cap ETF | 670,046 | |||
SPDR S&P 500 Growth ETF | 2,337,452 | |||
SPDR S&P 500 Value ETF | 2,627,096 | |||
SPDR Dow Jones Mid Cap ETF | 2,062,980 | |||
SPDR S&P 400 Mid Cap Growth ETF | 16,725,263 | |||
SPDR S&P 400 Mid Cap Value ETF | 2,329,997 | |||
SPDR S&P 600 Small Cap ETF | 13,811,283 | |||
SPDR S&P 600 Small Cap Growth ETF | 36,586,667 | |||
SPDR S&P 600 Small Cap Value ETF | 5,158,855 | |||
SPDR DJ Global Titans ETF | (8,971 | ) | ||
SPDR Dow Jones REIT ETF | 12,852,160 | |||
SPDR KBW Bank ETF | 18,449,371 | |||
SPDR KBW Capital Markets ETF | (2,618,938 | ) | ||
SPDR KBW Insurance ETF | 1,701,429 |
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NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 2010 (Unaudited)
Net Gain (Loss) | ||||
Reclassified | ||||
to Paid in Capital | ||||
SPDR KBW Mortgage Finance ETF | $ | 82,250 | ||
SPDR KBW Regional Banking ETF | (29,172,440 | ) | ||
SPDR Morgan Stanley Technology ETF | 1,479,915 | |||
SPDR S&P Dividend ETF | 18,643,620 | |||
SPDR S&P Biotech ETF | 27,922,248 | |||
SPDR S&P Homebuilders ETF | 25,112,721 | |||
SPDR S&P Metals & Mining ETF | 102,382,162 | |||
SPDR S&P Oil & Gas Equipment & Services ETF | 9,537,921 | |||
SPDR S&P Oil & Gas Exploration & Production ETF | 66,030,049 | |||
SPDR S&P Pharmaceuticals ETF | 8,384,767 | |||
SPDR S&P Retail ETF | 119,241,522 | |||
SPDR S&P Semiconductor ETF | 10,678,798 | |||
SPDR Wells Fargo Preferred Stock ETF | 584,460 |
At December 31, 2010, the Funds had capital loss carryforwards which may be utilized to offset any net realized capital gains expiring June 30:
2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||||||||||||||
SPDR Dow Jones Total Market ETF | $ | (2,005,163 | ) | $ | (1,348,494 | ) | $ | (153,659 | ) | $ | (4,842,998 | ) | $ | — | $ | — | $ | (1,378,715 | ) | $ | (4,870,717 | ) | ||||||||||
SPDR Dow Jones Large Cap ETF | — | — | — | — | — | — | (131,432 | ) | (525,506 | ) | ||||||||||||||||||||||
SPDR S&P 500 Growth ETF | (4,738,409 | ) | (2,821,107 | ) | (309,686 | ) | (3,652,975 | ) | — | — | (6,452,641 | ) | (26,035,843 | ) | ||||||||||||||||||
SPDR S&P 500 Value ETF | — | — | (974,429 | ) | — | — | — | (5,372,858 | ) | (16,424,729 | ) | |||||||||||||||||||||
SPDR Dow Jones Mid Cap ETF | — | — | — | — | — | — | (558,343 | ) | (1,382,689 | ) | ||||||||||||||||||||||
SPDR S&P 400 Mid Cap Growth ETF | — | — | — | — | — | — | (2,960,864 | ) | (3,258,647 | ) | ||||||||||||||||||||||
SPDR S&P 400 Mid Cap Value ETF | — | — | — | — | — | (493,781 | ) | (1,200,592 | ) | (1,312,574 | ) | |||||||||||||||||||||
SPDR S&P 600 Small Cap ETF | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
SPDR S&P 600 Small Cap Growth ETF | — | — | — | — | — | — | (2,152,440 | ) | (4,620,622 | ) | ||||||||||||||||||||||
SPDR S&P 600 Small Cap Value ETF | — | — | — | — | — | — | (1,882,152 | ) | (5,475,176 | ) | ||||||||||||||||||||||
SPDR DJ Global Titans ETF | (1,493,437 | ) | (984,760 | ) | — | — | (282,717 | ) | — | (12,535,918 | ) | (9,895,403 | ) | |||||||||||||||||||
SPDR Dow Jones REIT ETF | — | — | — | — | — | — | (1,122,565 | ) | (192,486,170 | ) | ||||||||||||||||||||||
SPDR KBW Bank ETF | — | — | — | — | — | (435,385 | ) | (118,852,502 | ) | (300,189,040 | ) | |||||||||||||||||||||
SPDR KBW Capital Markets ETF | — | — | — | — | — | (9,042,847 | ) | (23,772,407 | ) | (28,551,883 | ) | |||||||||||||||||||||
SPDR KBW Insurance ETF | — | — | — | — | — | (514,950 | ) | 1,401,569 | (15,750,318 | ) | ||||||||||||||||||||||
SPDR KBW Mortgage Finance ETF | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
SPDR KBW Regional Banking ETF | — | — | — | — | — | — | (24,075,194 | ) | (150,464,974 | ) | ||||||||||||||||||||||
SPDR Morgan Stanley Technology ETF | (10,238,030 | ) | (19,143,628 | ) | (8,746,932 | ) | (3,784,746 | ) | (2,360,832 | ) | (745,443 | ) | (2,659,957 | ) | (20,984,667 | ) | ||||||||||||||||
SPDR S&P Dividend ETF | — | — | — | — | — | — | (15,532,281 | ) | (76,092,855 | ) | ||||||||||||||||||||||
SPDR S&P Biotech ETF | — | — | — | — | (2,145,212 | ) | (733,614 | ) | (24,363,945 | ) | (73,086,286 | ) | ||||||||||||||||||||
SPDR S&P Homebuilders ETF | — | — | — | — | (4,745,039 | ) | (8,203,751 | ) | (24,813,335 | ) | (116,404,014 | ) | ||||||||||||||||||||
SPDR S&P Metals & Mining ETF | — | — | — | — | (104,652 | ) | — | (49,841,508 | ) | (215,129,022 | ) | |||||||||||||||||||||
SPDR S&P Oil & Gas Equipment & Services ETF | — | — | — | — | — | — | (1,830,538 | ) | (54,465,863 | ) | ||||||||||||||||||||||
SPDR S&P Oil & Gas Exploration & Production ETF | — | — | — | — | — | — | (11,779,459 | ) | (112,377,725 | ) |
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2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||||||||||||||
SPDR S&P Pharmaceuticals ETF | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (687,927 | ) | |||||||||||||||
SPDR S&P Retail ETF | — | — | — | — | — | (1,022,978 | ) | (250,690 | ) | (32,271,270 | ) | |||||||||||||||||||||
SPDR S&P Semiconductor ETF | — | — | — | — | (1,832,423 | ) | — | (12,113,199 | ) | (5,691,659 | ) | |||||||||||||||||||||
SPDR Wells Fargo Preferred Stock ETF | — | — | — | — | — | — | — | (18,976 | ) |
Under current tax laws, capital losses realized after October 31, may be deferred and treated as occurring on the first day of the following fiscal Year. The Funds incurred the following losses during the period November 1, 2009 through June 30, 2010 that are deferred for tax purposes until fiscal 2011:
Deferred Losses | ||||
SPDR Dow Jones Total Market ETF | $ | — | ||
SPDR Dow Jones Large Cap ETF | (62,170 | ) | ||
SPDR S&P 500 Growth ETF | (1,760,629 | ) | ||
SPDR S&P 500 Value ETF | (690,400 | ) | ||
SPDR Dow Jones Mid Cap ETF | (32,190 | ) | ||
SPDR S&P 400 Mid Cap Growth ETF | — | |||
SPDR S&P 400 Mid Cap Value ETF | (158,031 | ) | ||
SPDR S&P 600 Small Cap ETF | — | |||
SPDR S&P 600 Small Cap Growth ETF | (273,155 | ) | ||
SPDR S&P 600 Small Cap Value ETF | (1,856,807 | ) | ||
SPDR DJ Global Titans ETF | (1,837,709 | ) | ||
SPDR Dow Jones REIT ETF | (35,292,713 | ) | ||
SPDR KBW Bank ETF | (51,516,245 | ) | ||
SPDR KBW Capital Markets ETF | (3,001,185 | ) | ||
SPDR KBW Insurance ETF | (1,757,037 | ) | ||
SPDR KBW Mortgage Finance ETF | — | |||
SPDR KBW Regional Banking ETF | (68,173,342 | ) | ||
SPDR Morgan Stanley Technology ETF | (2,115,831 | ) | ||
SPDR S&P Dividend ETF | (1,675,218 | ) | ||
SPDR S&P Biotech ETF | (37,486,470 | ) | ||
SPDR S&P Homebuilders ETF | (2,681,743 | ) | ||
SPDR S&P Metals & Mining ETF | (30,996,088 | ) | ||
SPDR S&P Oil & Gas Equipment & Services ETF | (20,261,628 | ) | ||
SPDR S&P Oil & Gas Exploration & Production ETF | (13,902,574 | ) | ||
SPDR S&P Pharmaceuticals ETF | (1,391,411 | ) | ||
SPDR S&P Retail ETF | (3,021,291 | ) | ||
SPDR S&P Semiconductor ETF | (887,491 | ) | ||
SPDR Wells Fargo Preferred Stock ETF | (164,385 | ) |
Distributions
Each Fund declares and distributes dividends from net investment income, if any, to its shareholders quarterly. The Trust declares and distributes net realized capital gains, if any, at least annually. Distributions are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. generally accepted accounting principles.
Effective October 30, 2009, the Trust’s Dividend Reinvestment Service is no longer available. Broker-dealers, at their own discretion, may offer a dividend reinvestment service under which additional shares of the Fund(s) are purchased
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in the secondary market at current market prices. Investors should consult their broker-dealer for further information regarding any dividend reinvestment service offered by such broker-dealer.
Subsequent Events
Management has determined there are no subsequent events or transactions that would have materially impacted the Funds’ financial statements as presented.
3. | Fees and Compensation Paid to Affiliates and Other Related Party Transactions |
Advisory Fee
Each Fund has entered into an Investment Advisory Agreement with SSgA Funds Management, Inc. (the “Adviser” or “SSgA FM”). As compensation for the services rendered, facilities furnished, and expenses borne by the Adviser, each Fund pays the Adviser a fee accrued daily and paid monthly, based on a percentage of each Fund’s average daily net assets as shown in the following table:
Annual Rate | ||||
SPDR Dow Jones Total Market ETF | 0.20 | % | ||
SPDR Dow Jones Large Cap ETF | 0.20 | |||
SPDR S&P 500 Growth ETF | 0.20 | |||
SPDR S&P 500 Value ETF | 0.20 | |||
SPDR Dow Jones Mid Cap ETF | 0.25 | |||
SPDR S&P 400 Mid Cap Growth ETF | 0.25 | |||
SPDR S&P 400 Mid Cap Value ETF | 0.25 | |||
SPDR S&P 600 Small Cap ETF | 0.20 | |||
SPDR S&P 600 Small Cap Growth ETF | 0.25 | |||
SPDR S&P 600 Small Cap Value ETF | 0.25 | |||
SPDR DJ Global Titans ETF | 0.50 | |||
SPDR Dow Jones REIT ETF | 0.25 | |||
SPDR KBW Bank ETF | 0.35 | |||
SPDR KBW Capital Markets ETF | 0.35 | |||
SPDR KBW Insurance ETF | 0.35 | |||
SPDR KBW Mortgage Finance ETF | 0.35 | |||
SPDR KBW Regional Banking ETF | 0.35 | |||
SPDR Morgan Stanley Technology ETF | 0.50 | |||
SPDR S&P Dividend ETF | 0.35 | |||
SPDR S&P Biotech ETF | 0.35 | |||
SPDR S&P Homebuilders ETF | 0.35 | |||
SPDR S&P Metals & Mining ETF | 0.35 | |||
SPDR S&P Oil & Gas Equipment & Services ETF | 0.35 | |||
SPDR S&P Oil & Gas Exploration & Production ETF | 0.35 | |||
SPDR S&P Pharmaceuticals ETF | 0.35 | |||
SPDR S&P Retail ETF | 0.35 | |||
SPDR S&P Semiconductor ETF | 0.35 | |||
SPDR Wells Fargo Preferred Stock ETF | 0.45 |
The Adviser pays all operating expenses of each Fund other than management fee, distribution fee pursuant to each Fund’s Distribution and Service Plan, if any, brokerage, taxes, interest, fees and expenses of the Independent Trustees
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(including any Trustees’ counsel fees), litigation expenses, acquired fund fees and expenses and other extraordinary expenses.
State Street Bank and Trust Company (“State Street”), an affiliate of the Adviser, receives fees for its services as Custodian, Administrator and Transfer Agent from the Adviser.
State Street also acts as the securities lending agent for the Funds and receives a portion of any lending income. In addition, cash collateral from lending activities is invested in the State Street Navigator Securities Lending Prime Portfolio (“Prime Portfolio”) for which SSgA FM serves as the investment adviser. Prime Portfolio is a series of State Street Navigator Securities Lending Trust, a registered investment company under the 1940 Act, and operates as a money market fund in compliance with Rule 2a-7 under the 1940 Act. See Note 8 for additional information regarding securities lending.
For the six months ended December 31, 2010, State Street earned securities lending agent fees from the following Funds:
Securities Lending | ||||
Agent Fees | ||||
SPDR Dow Jones Total Market ETF | $ | 3,294 | ||
SPDR Dow Jones Large Cap ETF | 1,180 | |||
SPDR S&P 500 Growth ETF | 2,097 | |||
SPDR S&P 500 Value ETF | 1,165 | |||
SPDR Dow Jones Mid Cap ETF | 3,683 | |||
SPDR S&P 400 Mid Cap Growth ETF | 2,867 | |||
SPDR S&P 400 Mid Cap Value ETF | 2,029 | |||
SPDR S&P 600 Small Cap ETF | 5,508 | |||
SPDR S&P 600 Small Cap Growth ETF | 14,276 | |||
SPDR S&P 600 Small Cap Value ETF | 9,588 | |||
SPDR DJ Global Titans ETF | 1,966 | |||
SPDR Dow Jones REIT ETF | 23,238 | |||
SPDR KBW Bank ETF | 11,994 | |||
SPDR KBW Capital Markets ETF | 750 | |||
SPDR KBW Insurance ETF | 1,560 | |||
SPDR KBW Mortgage Finance ETF | 169 | |||
SPDR KBW Regional Banking ETF | 34,993 | |||
SPDR Morgan Stanley Technology ETF | 3,140 | |||
SPDR S&P Dividend ETF | 56,598 | |||
SPDR S&P Biotech ETF | 24,573 | |||
SPDR S&P Homebuilders ETF | 22,470 | |||
SPDR S&P Metals & Mining ETF | 15,895 | |||
SPDR S&P Oil & Gas Equipment & Services ETF | 11,628 | |||
SPDR S&P Oil & Gas Exploration & Production ETF | 7,411 | |||
SPDR S&P Pharmaceuticals ETF | 9,422 | |||
SPDR S&P Retail ETF | 51,968 | |||
SPDR S&P Semiconductor ETF | 2,639 | |||
SPDR Wells Fargo Preferred Stock ETF | 5,791 |
Distributor
State Street Global Markets, LLC (the “Distributor”), an affiliate of the Adviser, serves as the distributor of the shares of each Fund. Pursuant to a Distribution and Service Plan adopted in accordance with Rule 12b-1 under the
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1940 Act, each Fund, with the exception of SPDR Dow Jones Total Market ETF, is authorized to pay an amount of up to 0.25% of its average daily net assets for certain distribution-related activities. However, the Board of Trustees has determined that no such payments will be made through at least October 31, 2011 and therefore no such payments have been made.
The Distributor has established an assisted trading program to aid Authorized Participants in certain creation and redemption activity for which the Distributor receives commissions from Authorized Participants. In addition, the Distributor receives compensation from State Street associated with on-line creation and redemption activity of Authorized Participants.
Trustees’ Fees
The Trust and SPDR Index Share Funds (“SIS Trust”) pay, in the aggregate, each Independent Trustee an annual fee of $132,500 plus $7,500 per in-person meeting attended and $1,250 for each telephonic or video conference meeting attended. The Chairman of the Board receives an additional annual fee of $37,500 and the Chair of the Audit Committee receives an additional annual fee of $15,000. The Trust also reimburses each Independent Trustee for travel and other out-of-pocket expenses incurred by him/her in connection with attending such meetings and in connection with attending industry seminars and meetings. Trustee fees are allocated between the Trust and SIS Trust and each of their respective series in such a manner as deemed equitable, taking into consideration the relative net assets of the series.
Transactions with Affiliates
The Funds listed below have invested in an affiliated company, State Street Corp. Amounts relating to these investments at December 31, 2010 and for the period then ended are:
Number of | Number of | |||||||||||||||||||||||||||||||||||||||
Shares Held | Value at | Purchased | Sold | Shares Held | Value at | Dividend | Realized | |||||||||||||||||||||||||||||||||
at 6/30/10 | 6/30/10 | Cost | Shares | Proceeds | Shares | 12/31/10 | 12/31/10 | Income | Gain/(Loss) | |||||||||||||||||||||||||||||||
SPDR Dow Jones Total Market ETF | 6,860 | $ | 232,005 | $ | 33,574 | 882 | $ | 11,913 | 337 | 7,405 | $ | 343,148 | $ | 148 | $ | (618 | ) | |||||||||||||||||||||||
SPDR Dow Jones Large Cap ETF | 1,691 | 57,190 | 4,557 | 119 | 4,439 | 119 | 1,691 | 78,361 | 34 | 144 | ||||||||||||||||||||||||||||||
SPDR S&P 500 Growth ETF | 17,609 | 595,536 | 11,661 | 300 | 798,949 | 17,909 | — | — | 163 | (162,480 | ) | |||||||||||||||||||||||||||||
SPDR S&P 500 Value ETF | — | — | 686,570 | 15,100 | — | — | 15,100 | 699,734 | 151 | — | ||||||||||||||||||||||||||||||
SPDR KBW Bank ETF | 443,580 | 15,001,875 | 80,787,111 | 1,874,437 | 50,327,021 | 1,208,880 | 1,109,137 | 51,397,409 | 15,966 | 50,631 | ||||||||||||||||||||||||||||||
SPDR KBW Capital Markets ETF | 106,332 | 3,596,148 | 5,301,182 | 123,330 | 4,167,826 | 102,147 | 127,515 | 5,909,045 | 2,176 | (509,636 | ) |
Each Fund may invest in certain money market funds managed by the Adviser, including the State Street Institutional Liquid Reserves Fund-Institutional Class (“Liquid Reserves Fund”), a series of State Street Institutional Investment Trust. The Liquid Reserves Fund is a feeder fund in a master/feeder fund structure that invests substantially all of its assets in the State Street Money Market Portfolio (“Master Portfolio”). The Liquid Reserves Fund does not pay an investment advisory fee to the Adviser, but the Master Portfolio in which it invests pays an investment advisory fee to the Adviser. The Liquid Reserves Fund intends to declare dividends on shares from net investment income daily and pay them as of the last business day of each month. All income distributions earned by the Funds from affiliated money market funds are recorded as dividend income on securities of affiliated issuers in the accompanying Statements of Operations. In addition, cash collateral from lending activities is invested in Prime Portfolio, for which SSgA FM serves as the investment adviser.
Amounts related to investments in Liquid Reserves Fund and/or Prime Portfolio at December 31, 2010 and for the period then ended are:
Value at | Purchased | Sold | Value at | Realized | ||||||||||||||||||||||||||||
Liquid Reserves Fund | 6/30/10 | Cost | Shares | Proceeds | Shares | 12/31/10 | Income | Gain/(Loss) | ||||||||||||||||||||||||
SPDR Dow Jones Total Market ETF | $ | 541,450 | $ | 3,772,456 | 3,772,456 | $ | 3,992,428 | 3,992,428 | $ | 321,478 | $ | 672 | $ | — | ||||||||||||||||||
SPDR Dow Jones Large Cap ETF | 74,544 | 677,438 | 677,438 | 735,005 | 735,005 | 16,977 | 88 | — | ||||||||||||||||||||||||
SPDR S&P 500 Growth ETF | 100 | 3,569,257 | 3,569,257 | 2,863,120 | 2,863,120 | 706,237 | 530 | — |
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Value at | Purchased | Sold | Value at | Realized | ||||||||||||||||||||||||||||
Liquid Reserves Fund | 6/30/10 | Cost | Shares | Proceeds | Shares | 12/31/10 | Income | Gain/(Loss) | ||||||||||||||||||||||||
SPDR S&P 500 Value ETF | $ | 43,072 | $ | 3,993,357 | 3,993,357 | $ | 3,725,475 | 3,725,475 | $ | 310,954 | $ | 447 | $ | — | ||||||||||||||||||
SPDR Dow Jones Mid Cap ETF | 12,439 | 1,736,669 | 1,736,669 | 1,614,650 | 1,614,650 | 134,458 | 159 | — | ||||||||||||||||||||||||
SPDR S&P 400 Mid Cap Growth ETF | 253,449 | 2,503,535 | 2,503,535 | 2,641,252 | 2,641,252 | 115,732 | 183 | — | ||||||||||||||||||||||||
SPDR S&P 400 Mid Cap Value ETF | 37,720 | 1,348,941 | 1,348,941 | 1,288,524 | 1,288,524 | 98,137 | 112 | — | ||||||||||||||||||||||||
SPDR S&P 600 Small Cap ETF | 26,567 | 1,925,544 | 1,925,544 | 1,825,543 | 1,825,543 | 126,568 | 194 | — | ||||||||||||||||||||||||
SPDR S&P 600 Small Cap Growth ETF | 177,386 | 6,073,626 | 6,073,626 | 5,660,143 | 5,660,143 | 590,869 | 588 | — | ||||||||||||||||||||||||
SPDR S&P 600 Small Cap Value ETF | 96,833 | 4,013,806 | 4,013,806 | 3,921,815 | 3,921,815 | 188,824 | 283 | — | ||||||||||||||||||||||||
SPDR DJ Global Titans ETF | 100 | 1,764,771 | 1,764,771 | 1,602,640 | 1,602,640 | 162,231 | 153 | — | ||||||||||||||||||||||||
SPDR Dow Jones REIT ETF | 1,815,488 | 42,971,007 | 42,971,007 | 43,180,297 | 43,180,297 | 1,606,198 | 1,895 | — | ||||||||||||||||||||||||
SPDR KBW Bank ETF | 684,735 | 8,414,494 | 8,414,494 | 7,667,726 | 7,667,726 | 1,431,503 | 1,227 | — | ||||||||||||||||||||||||
SPDR KBW Capital Markets ETF | 74,340 | 2,096,706 | 2,096,706 | 1,213,773 | 1,213,773 | 957,273 | 118 | — | ||||||||||||||||||||||||
SPDR KBW Insurance ETF | 136,368 | 4,399,251 | 4,399,251 | 3,943,800 | 3,943,800 | 591,819 | 268 | — | ||||||||||||||||||||||||
SPDR KBW Mortgage Finance ETF | 6,754 | 70,935 | 70,935 | 75,125 | 75,125 | 2,564 | 6 | — | ||||||||||||||||||||||||
SPDR KBW Regional Banking ETF | 964,165 | 9,590,126 | 9,590,126 | 10,358,975 | 10,358,975 | 195,316 | 935 | — | ||||||||||||||||||||||||
SPDR Morgan Stanley Technology ETF | 372,470 | 934,579 | 934,579 | 1,113,414 | 1,113,414 | 193,635 | 436 | — | ||||||||||||||||||||||||
SPDR S&P Dividend ETF | 5,087,806 | 133,001,491 | 133,001,491 | 125,828,110 | 125,828,110 | 12,261,187 | 11,528 | — | ||||||||||||||||||||||||
SPDR S&P Biotech ETF | 269,146 | 8,417,566 | 8,417,566 | 8,431,581 | 8,431,581 | 255,131 | 522 | — | ||||||||||||||||||||||||
SPDR S&P Homebuilders ETF | 396,379 | 23,600,875 | 23,600,875 | 23,815,016 | 23,815,016 | 182,238 | 1,787 | — | ||||||||||||||||||||||||
SPDR S&P Metals & Mining ETF | 1,597,914 | 6,223,777 | 6,223,777 | 6,624,755 | 6,624,755 | 1,196,936 | 2,244 | — | ||||||||||||||||||||||||
SPDR S&P Oil & Gas Equipment & Services ETF | 240,252 | 7,213,714 | 7,213,714 | 5,659,472 | 5,659,472 | 1,794,494 | 447 | — | ||||||||||||||||||||||||
SPDR S&P Oil & Gas Exploration & Production ETF | 348,701 | 10,103,073 | 10,103,073 | 8,868,824 | 8,868,824 | 1,582,950 | 789 | — | ||||||||||||||||||||||||
SPDR S&P Pharmaceuticals ETF | 16,857 | 6,843,709 | 6,843,709 | 6,803,797 | 6,803,797 | 56,769 | 389 | — | ||||||||||||||||||||||||
SPDR S&P Retail ETF | 913,959 | 22,981,781 | 22,981,781 | 21,148,148 | 21,148,148 | 2,747,592 | 1,217 | — | ||||||||||||||||||||||||
SPDR S&P Semiconductor ETF | 119,723 | 1,444,579 | 1,444,579 | 1,179,239 | 1,179,239 | 385,063 | 157 | — | ||||||||||||||||||||||||
SPDR Wells Fargo Preferred Stock ETF | 210,792 | 6,613,666 | 6,613,666 | 6,310,671 | 6,310,671 | 513,787 | 416 | — |
Value at | Purchased | Sold | Value at | Realized | ||||||||||||||||||||||||||||
Prime Portfolio | 6/30/10 | Cost | Shares | Proceeds | Shares | 12/31/10 | Income | Gain/(Loss) | ||||||||||||||||||||||||
SPDR Dow Jones Total Market ETF | $ | 9,918,748 | $ | 26,254,606 | 26,254,606 | $ | 27,230,166 | 27,230,166 | $ | 8,943,188 | $ | 18,812 | $ | — | ||||||||||||||||||
SPDR Dow Jones Large Cap ETF | 5,945,846 | 23,171,700 | 23,171,700 | 26,117,035 | 26,117,035 | 3,000,511 | 6,851 | — | ||||||||||||||||||||||||
SPDR S&P 500 Growth ETF | 7,399,558 | 16,376,709 | 16,376,709 | 21,333,882 | 21,333,882 | 2,442,385 | 11,494 | — | ||||||||||||||||||||||||
SPDR S&P 500 Value ETF | 2,713,149 | 46,745,761 | 46,745,761 | 45,682,572 | 45,682,572 | 3,776,338 | 6,524 | — | ||||||||||||||||||||||||
SPDR Dow Jones Mid Cap ETF | 15,395,297 | 15,771,745 | 15,771,745 | 14,776,649 | 14,776,649 | 16,390,393 | 20,905 | — | ||||||||||||||||||||||||
SPDR S&P 400 Mid Cap Growth ETF | 17,208,494 | 15,609,414 | 15,609,414 | 30,615,630 | 30,615,630 | 2,202,278 | 16,155 | — | ||||||||||||||||||||||||
SPDR S&P 400 Mid Cap Value ETF | 5,322,474 | 19,131,849 | 19,131,849 | 17,326,394 | 17,326,394 | 7,127,929 | 11,543 | — | ||||||||||||||||||||||||
SPDR S&P 600 Small Cap ETF | 14,231,812 | 29,507,431 | 29,507,431 | 25,977,141 | 25,977,141 | 17,762,102 | 32,795 | — | ||||||||||||||||||||||||
SPDR S&P 600 Small Cap Growth ETF | 28,390,690 | 46,941,822 | 46,941,822 | 53,530,259 | 53,530,259 | 21,802,253 | 81,027 | — | ||||||||||||||||||||||||
SPDR S&P 600 Small Cap Value ETF | 29,593,856 | 33,936,414 | 33,936,414 | 50,644,765 | 50,644,765 | 12,885,505 | 55,231 | — | ||||||||||||||||||||||||
SPDR DJ Global Titans ETF | 2,962,407 | 40,738,429 | 40,738,429 | 39,184,303 | 39,184,303 | 4,516,533 | 11,140 | — | ||||||||||||||||||||||||
SPDR Dow Jones REIT ETF | 132,239,179 | 389,677,388 | 389,677,388 | 395,371,931 | 395,371,931 | 126,544,636 | 128,714 | — | ||||||||||||||||||||||||
SPDR KBW Bank ETF | 46,080,711 | 381,710,386 | 381,710,386 | 240,229,024 | 240,229,024 | 187,562,073 | 67,970 | — |
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Value at | Purchased | Sold | Value at | Realized | ||||||||||||||||||||||||||||
Prime Portfolio | 6/30/10 | Cost | Shares | Proceeds | Shares | 12/31/10 | Income | Gain/(Loss) | ||||||||||||||||||||||||
SPDR KBW Capital Markets ETF | $ | 7,980,811 | $ | 16,310,376 | 16,310,376 | $ | 19,973,755 | 19,973,755 | $ | 4,317,432 | $ | 4,713 | $ | — | ||||||||||||||||||
SPDR KBW Insurance ETF | 4,237,598 | 77,667,776 | 77,667,776 | 75,677,136 | 75,677,136 | 6,228,238 | 8,836 | — | ||||||||||||||||||||||||
SPDR KBW Mortgage Finance ETF | 1,031,758 | 1,084,716 | 1,084,716 | 1,506,942 | 1,506,942 | 609,532 | 950 | — | ||||||||||||||||||||||||
SPDR KBW Regional Banking ETF | 161,564,684 | 215,604,578 | 215,604,578 | 268,842,768 | 268,842,768 | 108,326,494 | 198,306 | — | ||||||||||||||||||||||||
SPDR Morgan Stanley Technology ETF | 10,341,311 | 118,443,487 | 118,443,487 | 117,330,011 | 117,330,011 | 11,454,787 | 17,797 | — | ||||||||||||||||||||||||
SPDR S&P Dividend ETF | 275,284,148 | 1,530,002,036 | 1,530,002,036 | 1,331,989,521 | 1,331,989,521 | 473,296,663 | 402,804 | — | ||||||||||||||||||||||||
SPDR S&P Biotech ETF | 94,435,725 | 309,289,842 | 309,289,842 | 326,181,317 | 326,181,317 | 77,544,250 | 139,259 | — | ||||||||||||||||||||||||
SPDR S&P Homebuilders ETF | 112,277,545 | 431,585,999 | 431,585,999 | 437,521,344 | 437,521,344 | 106,342,200 | 127,360 | — | ||||||||||||||||||||||||
SPDR S&P Metals & Mining ETF | 75,252,050 | 443,935,375 | 443,935,375 | 418,361,305 | 418,361,305 | 100,826,120 | 87,077 | — | ||||||||||||||||||||||||
SPDR S&P Oil & Gas Equipment & Services ETF | 27,354,745 | 204,006,731 | 204,006,731 | 212,104,505 | 212,104,505 | 19,256,971 | 65,777 | — | ||||||||||||||||||||||||
SPDR S&P Oil & Gas Exploration & Production ETF | 48,293,877 | 169,883,854 | 169,883,854 | 176,322,845 | 176,322,845 | 41,854,886 | 39,773 | — | ||||||||||||||||||||||||
SPDR S&P Pharmaceuticals ETF | 30,386,719 | 75,982,562 | 75,982,562 | 95,025,018 | 95,025,018 | 11,344,263 | 53,387 | — | ||||||||||||||||||||||||
SPDR S&P Retail ETF | 67,696,465 | 454,052,497 | 454,052,497 | 455,141,394 | 455,141,394 | 66,607,568 | 292,620 | — | ||||||||||||||||||||||||
SPDR S&P Semiconductor ETF | 14,605,362 | 44,057,820 | 44,057,820 | 52,050,917 | 52,050,917 | 6,612,265 | 14,955 | — | ||||||||||||||||||||||||
SPDR Wells Fargo Preferred Stock ETF | 9,537,013 | 52,178,528 | 52,178,528 | 49,209,375 | 49,209,375 | 12,506,166 | 32,848 | — |
4. | Shareholder Transactions |
Shares are issued and redeemed by a Fund only in Creation Unit size aggregations of 50,000 shares. Such transactions are generally on an in-kind basis, with a separate cash payment, which is a balancing cash component to equate the transaction to the net asset value per unit of the Fund on the transaction date. Transaction fees ranging from $250 to $4,500 are charged to Authorized Participants for transactions on a given day regardless of the number of Creation Units that are created or redeemed on the same day are charged to Authorized Participants. An additional fee, including a variable fee, may be charged for certain transactions. Transaction fees are received by the Trust and/or Custodian and used to defray related expenses. The Custodian also receives amounts earned on cash collateral provided by Authorized Participants pending delivery of missing deposit securities.
5. | Aggregate Unrealized Appreciation and Depreciation |
The identified cost of investments in securities owned by each Fund for federal income tax purposes was substantially the same as cost for financial reporting purposes. Accordingly, gross unrealized appreciation and depreciation at December 31, 2010 was as follows:
Gross | Gross | Net Unrealized | ||||||||||||||
Identified | Unrealized | Unrealized | Appreciation | |||||||||||||
Cost | Appreciation | Depreciation | (Depreciation) | |||||||||||||
SPDR Dow Jones Total Market ETF | $ | 190,072,312 | $ | 39,425,243 | $ | 17,867,134 | $ | 21,558,109 | ||||||||
SPDR Dow Jones Large Cap ETF | 35,521,543 | 9,420,378 | 688,653 | 8,731,725 | ||||||||||||
SPDR S&P 500 Growth ETF | 173,028,723 | 24,795,386 | 5,168,134 | 19,627,252 | ||||||||||||
SPDR S&P 500 Value ETF | 170,598,274 | 13,090,079 | 11,932,739 | 1,157,340 | ||||||||||||
SPDR Dow Jones Mid Cap ETF | 67,180,420 | 9,795,806 | 1,450,782 | 8,345,024 | ||||||||||||
SPDR S&P 400 Mid Cap Growth ETF | 73,505,057 | 948,762 | 1,300,984 | (352,222 | ) | |||||||||||
SPDR S&P 400 Mid Cap Value ETF | 33,181,671 | 1,288,332 | 315,210 | 973,122 | ||||||||||||
SPDR S&P 600 Small Cap ETF | 84,907,538 | 547,105 | 1,811,311 | (1,264,206 | ) |
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NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 2010 (Unaudited)
Gross | Gross | Net Unrealized | ||||||||||||||
Identified | Unrealized | Unrealized | Appreciation | |||||||||||||
Cost | Appreciation | Depreciation | (Depreciation) | |||||||||||||
SPDR S&P 600 Small Cap Growth ETF | $ | 199,415,573 | $ | 1,749,448 | $ | 4,861,398 | $ | (3,111,950 | ) | |||||||
SPDR S&P 600 Small Cap Value ETF | 148,750,139 | 3,951,000 | 5,416,562 | (1,465,562 | ) | |||||||||||
SPDR DJ Global Titans ETF | 135,268,828 | 9,085,076 | 17,588,292 | (8,503,216 | ) | |||||||||||
SPDR Dow Jones REIT ETF | 1,523,175,681 | 99,219,919 | 131,614,596 | (32,394,677 | ) | |||||||||||
SPDR KBW Bank ETF | 2,205,026,001 | 17,308,171 | 58,476,376 | (41,168,205 | ) | |||||||||||
SPDR KBW Capital Markets ETF | 99,824,533 | 273,496 | 18,205,154 | (17,931,658 | ) | |||||||||||
SPDR KBW Insurance ETF | 243,471,669 | 5,416,601 | 7,776,490 | (2,359,889 | ) | |||||||||||
SPDR KBW Mortgage Finance ETF | 2,883,287 | 145,793 | 306,790 | (160,997 | ) | |||||||||||
SPDR KBW Regional Banking ETF | 1,015,886,472 | 5,717,136 | 120,634,849 | (114,917,713 | ) | |||||||||||
SPDR Morgan Stanley Technology ETF | 227,224,149 | 26,534,252 | 24,288,890 | 2,245,362 | ||||||||||||
SPDR S&P Dividend ETF | 5,053,771,074 | 469,627,523 | 12,638,388 | 456,989,135 | ||||||||||||
SPDR S&P Biotech ETF | 551,092,150 | 46,060,868 | 27,574,744 | 18,486,124 | ||||||||||||
SPDR S&P Homebuilders ETF | 993,327,247 | 23,007,391 | 39,895,020 | (16,887,629 | ) | |||||||||||
SPDR S&P Metals & Mining ETF | 1,208,128,395 | 107,703,954 | 22,166,602 | 85,537,352 | ||||||||||||
SPDR S&P Oil & Gas Equipment & Services ETF | 401,820,361 | 74,648,295 | 4,413,390 | 70,234,905 | ||||||||||||
SPDR S&P Oil & Gas Exploration & Production ETF | 762,414,185 | 29,094,935 | 13,272,660 | 15,822,275 | ||||||||||||
SPDR S&P Pharmaceuticals ETF | 200,616,619 | 25,122,549 | 4,919,898 | 20,202,651 | ||||||||||||
SPDR S&P Retail ETF | 1,054,332,814 | 10,316,026 | 21,661,363 | (11,345,337 | ) | |||||||||||
SPDR S&P Semiconductor ETF | 118,696,337 | 1,336,774 | 4,236,561 | (2,899,787 | ) | |||||||||||
SPDR Wells Fargo Preferred Stock ETF | 112,515,732 | 3,245,584 | 204,471 | 3,041,113 |
6. | Investment Transactions |
For the six months ended December 31, 2010, the Trust had in-kind contributions and in-kind redemptions as follows:
Realized | ||||||||||||
Contributions | Redemptions | Gain/(Loss) | ||||||||||
SPDR Dow Jones Total Market ETF | $ | 16,521,460 | $ | 7,858,855 | $ | 2,367,649 | ||||||
SPDR Dow Jones Large Cap ETF | 2,558,571 | 2,534,328 | 670,046 | |||||||||
SPDR S&P 500 Growth ETF | — | 17,451,351 | 2,337,452 | |||||||||
SPDR S&P 500 Value ETF | 53,258,636 | 11,969,625 | 2,627,096 | |||||||||
SPDR Dow Jones Mid Cap ETF | 2,886,718 | 9,781,647 | 2,062,980 | |||||||||
SPDR S&P 400 Mid Cap Growth ETF | 73,798,858 | 80,509,249 | 16,725,263 | |||||||||
SPDR S&P 400 Mid Cap Value ETF | 14,117,449 | 12,935,538 | 2,329,997 | |||||||||
SPDR S&P 600 Small Cap ETF | 68,790,849 | 67,479,384 | 13,811,283 | |||||||||
SPDR S&P 600 Small Cap Growth ETF | 183,077,021 | 170,705,765 | 36,586,667 | |||||||||
SPDR S&P 600 Small Cap Value ETF | — | 35,033,039 | 5,158,855 | |||||||||
SPDR DJ Global Titans ETF | 27,498,740 | 2,544,160 | (8,971 | ) | ||||||||
SPDR Dow Jones REIT ETF | 68,793,551 | 57,281,956 | 12,852,160 | |||||||||
SPDR KBW Bank ETF | 3,150,323,750 | 2,075,103,030 | 18,449,371 | |||||||||
SPDR KBW Capital Markets ETF | 68,184,383 | 53,714,718 | (2,618,938 | ) | ||||||||
SPDR KBW Insurance ETF | 308,009,892 | 270,483,661 | 1,701,429 | |||||||||
SPDR KBW Mortgage Finance ETF | — | 2,089,626 | 82,250 | |||||||||
SPDR KBW Regional Banking ETF | 1,399,200,551 | 1,382,080,696 | (29,172,440 | ) |
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NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 2010 (Unaudited)
Realized | ||||||||||||
Contributions | Redemptions | Gain/(Loss) | ||||||||||
SPDR Morgan Stanley Technology ETF | $ | 6,314,220 | $ | 19,606,971 | $ | 1,479,915 | ||||||
SPDR S&P Dividend ETF | 2,756,502,866 | 83,580,878 | 18,643,620 | |||||||||
SPDR S&P Biotech ETF | 167,378,761 | 221,002,912 | 27,922,248 | |||||||||
SPDR S&P Homebuilders ETF | 883,040,893 | 845,712,940 | 25,112,721 | |||||||||
SPDR S&P Metals & Mining ETF | 1,397,510,524 | 1,279,893,465 | 102,382,162 | |||||||||
SPDR S&P Oil & Gas Equipment & Services ETF | 137,571,798 | 52,490,550 | 9,537,921 | |||||||||
SPDR S&P Oil & Gas Exploration & Production ETF | 2,085,756,028 | 2,061,512,559 | 66,030,049 | |||||||||
SPDR S&P Pharmaceuticals ETF | 62,244,994 | 26,856,938 | 8,384,767 | |||||||||
SPDR S&P Retail ETF | 5,705,647,402 | 5,603,319,086 | 119,241,522 | |||||||||
SPDR S&P Semiconductor ETF | 142,251,910 | 159,063,129 | 10,678,798 | |||||||||
SPDR Wells Fargo Preferred Stock ETF | 40,684,786 | 6,606,154 | 584,460 |
The in-kind contributions and in-kind redemptions in this table may not accord with the beneficial interest transactions on the Statements of Changes. The table represents the accumulation of a Fund’s daily net shareholder transactions while the Statements of Changes reflect gross shareholder transactions including any cash component of the transaction.
For the six months ended December 31, 2010, the Trust had purchases and sales of investment securities as follows:
Purchases | Sales | |||||||
SPDR Dow Jones Total Market ETF | $ | 3,075,469 | $ | 2,652,642 | ||||
SPDR Dow Jones Large Cap ETF | 1,117,660 | 1,066,649 | ||||||
SPDR S&P 500 Growth ETF | 83,203,516 | 83,654,079 | ||||||
SPDR S&P 500 Value ETF | 62,536,549 | 63,119,701 | ||||||
SPDR Dow Jones Mid Cap ETF | 6,749,662 | 6,351,445 | ||||||
SPDR S&P 400 Mid Cap Growth ETF | 53,662,850 | 53,154,756 | ||||||
SPDR S&P 400 Mid Cap Value ETF | 21,488,477 | 21,485,434 | ||||||
SPDR S&P 600 Small Cap ETF | 46,985,283 | 46,997,941 | ||||||
SPDR S&P 600 Small Cap Growth ETF | 140,953,341 | 140,568,394 | ||||||
SPDR S&P 600 Small Cap Value ETF | 108,796,550 | 108,732,483 | ||||||
SPDR DJ Global Titans ETF | 1,647,524 | 1,267,815 | ||||||
SPDR Dow Jones REIT ETF | 82,924,525 | 84,405,437 | ||||||
SPDR KBW Bank ETF | 185,031,215 | 186,183,058 | ||||||
SPDR KBW Capital Markets ETF | 1,940,728 | 1,899,311 | ||||||
SPDR KBW Insurance ETF | 11,627,977 | 12,070,440 | ||||||
SPDR KBW Mortgage Finance ETF | 421,467 | 435,271 | ||||||
SPDR KBW Regional Banking ETF | 23,140,566 | 22,045,067 | ||||||
SPDR Morgan Stanley Technology ETF | 21,642,002 | 21,529,432 | ||||||
SPDR S&P Dividend ETF | 1,551,416,003 | 1,559,396,101 | ||||||
SPDR S&P Biotech ETF | 110,844,672 | 111,640,449 | ||||||
SPDR S&P Homebuilders ETF | 105,346,746 | 106,331,475 | ||||||
SPDR S&P Metals & Mining ETF | 174,946,559 | 175,640,684 | ||||||
SPDR S&P Oil & Gas Equipment & Services ETF | 105,447,410 | 105,652,915 | ||||||
SPDR S&P Oil & Gas Exploration & Production ETF | 129,542,351 | 126,784,646 | ||||||
SPDR S&P Pharmaceuticals ETF | 52,150,332 | 53,027,314 |
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NOTES TO FINANCIAL STATEMENTS (continued)
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Purchases | Sales | |||||||
SPDR S&P Retail ETF | $ | 197,540,735 | $ | 200,302,225 | ||||
SPDR S&P Semiconductor ETF | 23,046,224 | 23,349,050 | ||||||
SPDR Wells Fargo Preferred Stock ETF | 7,725,356 | 8,404,588 |
For the six months ended December 31, 2010, the Trust did not pay any commissions to an affiliate of the Adviser for investment transactions.
7. | Concentration of Risk |
A Fund’s assets may be concentrated in a particular industry, group of industries or sector. Because each Fund will generally concentrate its investments to approximately the same extent that its index is so concentrated, a Fund may be adversely affected by the performance of a particular industry, group of industries or sector, and its shares may be subject to increased price volatility. In addition, if a Fund concentrates in a single industry or group of industries, it may be more susceptible to any single economic, market, political or regulatory occurrence affecting that industry or group of industries.
8. | Securities Lending |
Each Fund may lend securities up to 331/3% of its total assets to qualified broker-dealers or institutional investors. The loans are secured at all times by cash, cash equivalents or U.S. government securities in an amount at least equal to the market value of the securities loaned, plus accrued interest and dividends, determined on a daily basis and adjusted accordingly. The value of the collateral held with respect to a loaned security may be temporarily more or less than the value of a security due to market fluctuation of securities values. With respect to each loan, if on any business day the aggregate market value of securities collateral plus cash collateral held is less than the aggregate market value of the securities which are subject to the loan, the borrower will be notified to provide additional collateral. The Funds will regain record ownership of loaned securities to exercise certain beneficial rights; however, the Funds may bear the risk of delay in recovery of, or even loss of rights in, the securities loaned should the borrower fail financially. In addition, a Fund will bear the risk of loss of any cash collateral that it may invest. Each Fund receives compensation for lending its securities from interest or dividends earned on the cash, cash equivalents or U.S. government securities held as collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as lending agent. Proceeds collected by State Street on investment of cash collateral or any fee income is partially allocated to State Street as compensation for its lending services.
The market value of securities on loan as of December 31, 2010 and the value of the invested cash collateral are disclosed in the Statements of Assets and Liabilities. Securities lending income, as disclosed in the Funds’ Statements of Operations, represent the income earned from the investment of cash collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as lending agent.
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OTHER INFORMATION
OTHER INFORMATION
December 31, 2010 (Unaudited)
Shareholder Expense Example
As a shareholder of a Fund, you incur two types of costs: (1) transaction costs which may include creation and redemption fees or brokerage charges and (2) ongoing costs, including management fees, trustee fees, and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a Fund and to compare these costs with the ongoing costs of investing in other mutual funds. It is based on an investment of $1,000 invested on July 1, 2010 and held for the six months ended December 31, 2010.
Actual Expenses
The first table below provides information about actual account values and actual expenses. You may use the information in this table, together with the amount you invested, to estimate the expenses that you incurred over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first table under the heading entitled “Expenses Paid During Period” to estimate the expenses attributable to your investment during this period.
Hypothetical Example for Comparison Purposes
The second table below provides information about hypothetical account values and hypothetical expenses based on a Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not a Fund’s actual return. Thus, you should not use the hypothetical account values and expenses to estimate the actual ending account balance or your expenses for the period. Rather, these figures are provided to enable you to compare the ongoing costs of investing in a Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. The Funds charge transaction fees at scheduled amounts ranging from $250 to $4,500 per Creation Unit to those persons creating or redeeming Creation Units. If you buy or sell the Funds’ shares in the secondary market, you will incur customary brokerage commissions and charges.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs, such as creation and redemption fees, or brokerage charges. Therefore, the second table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transaction costs were included, your costs would have been higher.
Expenses Paid | ||||||||||||||||
Beginning Account | Ending Account | During Period* | ||||||||||||||
Annualized | Value | Value | 7/1/10 to | |||||||||||||
Actual | Expense Ratio | 7/1/10 | 12/31/10 | 12/31/10 | ||||||||||||
SPDR Dow Jones Total Market ETF | 0.23 | % | $ | 1,000 | $ | 1,240.30 | $ | 1.30 | ||||||||
SPDR Dow Jones Large Cap ETF | 0.24 | 1,000 | 1,236.10 | 1.35 | ||||||||||||
SPDR S&P 500 Growth ETF | 0.23 | 1,000 | 1,262.50 | 1.31 | ||||||||||||
SPDR S&P 500 Value ETF | 0.23 | 1,000 | 1,213.80 | 1.28 | ||||||||||||
SPDR Dow Jones Mid Cap ETF | 0.29 | 1,000 | 1,277.50 | 1.66 | ||||||||||||
SPDR S&P 400 Mid Cap Growth ETF | 0.31 | 1,000 | 1,311.70 | 1.81 | ||||||||||||
SPDR S&P 400 Mid Cap Value ETF | 0.29 | 1,000 | 1,223.20 | 1.63 | ||||||||||||
SPDR S&P 600 Small Cap ETF | 0.30 | 1,000 | 1,287.70 | 1.73 | ||||||||||||
SPDR S&P 600 Small Cap Growth ETF | 0.29 | 1,000 | 1,323.20 | 1.70 | ||||||||||||
SPDR S&P 600 Small Cap Value ETF | 0.29 | 1,000 | 1,248.10 | 1.64 | ||||||||||||
SPDR DJ Global Titans ETF | 0.55 | 1,000 | 1,215.80 | 3.07 | ||||||||||||
SPDR Dow Jones REIT ETF | 0.27 | 1,000 | 1,214.50 | 1.51 | ||||||||||||
SPDR KBW Bank ETF | 0.38 | 1,000 | 1,135.00 | 2.04 | ||||||||||||
SPDR KBW Capital Markets ETF | 0.42 | 1,000 | 1,251.90 | 2.38 | ||||||||||||
SPDR KBW Insurance ETF | 0.38 | 1,000 | 1,235.40 | 2.14 | ||||||||||||
SPDR KBW Mortgage Finance ETF | 0.38 | 1,000 | 1,097.80 | 2.01 |
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OTHER INFORMATION (continued)
December 31, 2010 (Unaudited)
Expenses Paid | ||||||||||||||||
Beginning Account | Ending Account | During Period* | ||||||||||||||
Annualized | Value | Value | 7/1/10 to | |||||||||||||
Actual | Expense Ratio | 7/1/10 | 12/31/10 | 12/31/10 | ||||||||||||
SPDR KBW Regional Banking ETF | 0.37 | % | $ | 1,000 | $ | 1,152.30 | $ | 2.01 | ||||||||
SPDR Morgan Stanley Technology ETF | 0.55 | 1,000 | 1,288.90 | 3.17 | ||||||||||||
SPDR S&P Dividend ETF | 0.37 | 1,000 | 1,171.90 | 2.03 | ||||||||||||
SPDR S&P Biotech ETF | 0.38 | 1,000 | 1,216.90 | 2.12 | ||||||||||||
SPDR S&P Homebuilders ETF | 0.39 | 1,000 | 1,234.10 | 2.20 | ||||||||||||
SPDR S&P Metals & Mining ETF | 0.38 | 1,000 | 1,512.40 | 2.41 | ||||||||||||
SPDR S&P Oil & Gas Equipment & Services ETF | 0.40 | 1,000 | 1,475.40 | 2.50 | ||||||||||||
SPDR S&P Oil & Gas Exploration & Production ETF | 0.37 | 1,000 | 1,354.00 | 2.20 | ||||||||||||
SPDR S&P Pharmaceuticals ETF | 0.37 | 1,000 | 1,200.50 | 2.05 | ||||||||||||
SPDR S&P Retail ETF | 0.37 | 1,000 | 1,364.80 | 2.21 | ||||||||||||
SPDR S&P Semiconductor ETF | 0.40 | 1,000 | 1,309.80 | 2.33 | ||||||||||||
SPDR Wells Fargo Preferred Stock ETF | 0.47 | 1,000 | 1,100.60 | 2.49 |
Expenses Paid | ||||||||||||||||
Beginning Account | Ending Account | During Period* | ||||||||||||||
Annualized | Value | Value | 7/1/10 to | |||||||||||||
Hypothetical | Expense Ratio | 7/1/10 | 12/31/10 | 12/31/10 | ||||||||||||
SPDR Dow Jones Total Market ETF | 0.23 | % | $ | 1,000 | $ | 1,024.05 | $ | 1.17 | ||||||||
SPDR Dow Jones Large Cap ETF | 0.24 | 1,000 | 1,024.00 | 1.22 | ||||||||||||
SPDR S&P 500 Growth ETF | 0.23 | 1,000 | 1,024.05 | 1.17 | ||||||||||||
SPDR S&P 500 Value ETF | 0.23 | 1,000 | 1,024.05 | 1.17 | ||||||||||||
SPDR Dow Jones Mid Cap ETF | 0.29 | 1,000 | 1,023.74 | 1.48 | ||||||||||||
SPDR S&P 400 Mid Cap Growth ETF | 0.31 | 1,000 | 1,023.64 | 1.58 | ||||||||||||
SPDR S&P 400 Mid Cap Value ETF | 0.29 | 1,000 | 1,023.74 | 1.48 | ||||||||||||
SPDR S&P 600 Small Cap ETF | 0.30 | 1,000 | 1,023.69 | 1.53 | ||||||||||||
SPDR S&P 600 Small Cap Growth ETF | 0.29 | 1,000 | 1,023.74 | 1.48 | ||||||||||||
SPDR S&P 600 Small Cap Value ETF | 0.29 | 1,000 | 1,023.74 | 1.48 | ||||||||||||
SPDR DJ Global Titans ETF | 0.55 | 1,000 | 1,022.43 | 2.80 | ||||||||||||
SPDR Dow Jones REIT ETF | 0.27 | 1,000 | 1,023.84 | 1.38 | ||||||||||||
SPDR KBW Bank ETF | 0.38 | 1,000 | 1,023.29 | 1.94 | ||||||||||||
SPDR KBW Capital Markets ETF | 0.42 | 1,000 | 1,023.09 | 2.14 | ||||||||||||
SPDR KBW Insurance ETF | 0.38 | 1,000 | 1,023.29 | 1.94 | ||||||||||||
SPDR KBW Mortgage Finance ETF | 0.38 | 1,000 | 1,023.29 | 1.94 | ||||||||||||
SPDR KBW Regional Banking ETF | 0.37 | 1,000 | 1,023.34 | 1.89 | ||||||||||||
SPDR Morgan Stanley Technology ETF | 0.55 | 1,000 | 1,022.43 | 2.80 | ||||||||||||
SPDR S&P Dividend ETF | 0.37 | 1,000 | 1,023.34 | 1.89 | ||||||||||||
SPDR S&P Biotech ETF | 0.38 | 1,000 | 1,023.29 | 1.94 | ||||||||||||
SPDR S&P Homebuilders ETF | 0.39 | 1,000 | 1,023.24 | 1.99 | ||||||||||||
SPDR S&P Metals & Mining ETF | 0.38 | 1,000 | 1,023.29 | 1.94 | ||||||||||||
SPDR S&P Oil & Gas Equipment & Services ETF | 0.40 | 1,000 | 1,023.19 | 2.04 |
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OTHER INFORMATION (continued)
December 31, 2010 (Unaudited)
Expenses Paid | ||||||||||||||||
Beginning Account | Ending Account | During Period* | ||||||||||||||
Annualized | Value | Value | 7/1/10 to | |||||||||||||
Hypothetical | Expense Ratio | 7/1/10 | 12/31/10 | 12/31/10 | ||||||||||||
SPDR S&P Oil & Gas Exploration & Production ETF | 0.37 | % | $ | 1,000 | $ | 1,023.34 | $ | 1.89 | ||||||||
SPDR S&P Pharmaceuticals ETF | 0.37 | 1,000 | 1,023.34 | 1.89 | ||||||||||||
SPDR S&P Retail ETF | 0.37 | 1,000 | 1,023.34 | 1.89 | ||||||||||||
SPDR S&P Semiconductor ETF | 0.40 | 1,000 | 1,023.19 | 2.04 | ||||||||||||
SPDR Wells Fargo Preferred Stock ETF | 0.47 | 1,000 | 1,022.84 | 2.40 |
* | Expenses are equal to the Fund’s annualized net expense ratio multiplied by the average account value of the period, multiplied by the number of days in the most recent six month period, then divided by 365. |
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OTHER INFORMATION
OTHER INFORMATION
December 31, 2010 (Unaudited)
Proxy Voting Policies and Procedures and Records
A description of the Trust’s proxy voting policies and procedures that are used by the Funds’ investment adviser to vote proxies relating to the Funds’ portfolio of securities are available (i) without charge, upon request by calling 1-866-787-2257 (toll free) or (ii) on the website of the Securities and Exchange Commission, at www.sec.gov.
Information regarding how proxies were voted relating to the Funds’ portfolio securities for the prior 12-months period ended June 30 is available by August 31 of each year by calling the same number above (toll free) and on the SEC’s website, at www.sec.gov, and on the Funds’ website at www.spdrs.com.
Quarterly Portfolio Schedule
The Funds file a complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Forms N-Q are available on the SEC’s website at www.sec.gov and may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The information on the Form N-Q is available upon request, without charge, by calling 1-800-843-2639 (toll free) and on the Funds’ website at www.spdrs.com.
Full Portfolio Schedule
The complete schedule of portfolio holdings for the following Funds is available on the Funds’ website at www.spdrs.com, without charge, upon request, by calling 1-800-787-2257 (toll free) and on the SEC’s website at www.sec.gov.
SPDR Dow Jones Total Market ETF
SPDR Dow Jones Large Cap ETF
SPDR S&P 500 Growth ETF
SPDR S&P 500 Value ETF
SPDR Dow Jones Mid Cap ETF
SPDR S&P 400 Mid Cap Growth ETF
SPDR S&P 400 Mid Cap Value ETF
SPDR S&P 600 Small Cap ETF
SPDR S&P 600 Small Cap Growth ETF
SPDR S&P 600 Small Cap Value ETF
Approval of Advisory Agreement
At in-person meetings held during the six-month period ended December 31, 2010, the Board of Trustees of the Trust (the “Board”) evaluated proposals to continue the Investment Advisory Agreement with respect to the operational and non-operational series of the Trust (each, a “SPDR ETF” and collectively, the “SPDR ETFs”). The Trustees who are not “interested persons” of the Trust within the meaning of the Investment Company Act of 1940, as amended (the “Independent Trustees”) also met separately with their independent legal counsel to consider the Investment Advisory Agreement.
In evaluating the Investment Advisory Agreement, the Board drew on materials provided to them at their request by independent legal counsel, the Adviser and State Street Bank and Trust Company, the Trust’s Administrator, Transfer Agent, Custodian and Securities Lending Agent (“State Street”). In deciding whether to approve the Investment Advisory Agreement, the Board considered various factors, including (i) the nature, extent and quality of services provided by, or to be provided by, the Adviser with respect to the SPDR ETFs under the Investment Advisory Agreement, (ii) investment performance of the SPDR ETFs, (iii) costs to the Adviser of its services and profits realized by the Adviser from its relationship with the Trust, and (iv) the extent to which economies of scale would be realized if and as the SPDR ETFs grow and whether fee levels in the Investment Advisory Agreement reflect these economies of scale.
The Board considered the nature, extent and quality of services provided by, or to be provided by, the Adviser. In doing so, they relied on their prior experience with the Trust and materials provided prior to and at the meeting. The Board reviewed the Investment Advisory Agreement and the Adviser’s responsibilities for managing investment operations of
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SPDR SERIES TRUST
OTHER INFORMATION (continued)
OTHER INFORMATION (continued)
December 31, 2010 (Unaudited)
the SPDR ETFs in accordance with each SPDR ETF’s investment objective, investment policies, and applicable legal and regulatory requirements. The Board appreciated the relatively unique nature of the SPDR ETFs, as exchange-traded funds, and the experience and expertise of the Adviser with exchange-traded funds. The Board considered the background and experience of the Adviser’s senior management, including those individuals responsible for portfolio management and compliance of the SPDR ETFs. The Board also considered the portfolio management resources, structures and practices, including those associated with monitoring and securing each SPDR ETF’s compliance with its investment objectives and policies and with applicable laws and regulations. The Board also considered information about the Adviser’s best execution procedures and overall investment management business, noting that the Adviser serves a wide range of clients across a broad spectrum of asset classes. The Board looked at the Adviser’s general knowledge of the investment business and that of its affiliates which make up State Street Global Advisors, with which the Adviser shares all of its senior personnel. The Board considered that the Adviser and its affiliates constitute one of the world’s largest investment management enterprises for indexed products generally and exchange-traded funds in particular. The Board considered the Adviser’s experience in managing equity exchange-traded funds. The Board then determined that the nature, extent and quality of services provided by the Adviser to the SPDR ETFs were necessary and appropriate.
The Board reviewed the SPDR ETFs’ performance, noting that the distinctive indexed investment objective of each of the SPDR ETFs made analysis of investment performance, in absolute terms, less of a priority than that which normally attaches to performance of actively-managed funds. The Board was more concerned with the extent to which each SPDR ETF achieved its objective as a passively managed index fund. The Board reviewed information regarding each SPDR ETF’s index tracking and tracking error, noting that each SPDR ETF satisfactorily tracked its benchmark index. The Board also discussed the tax efficiency of the SPDR ETFs. The Board then determined that the performance of each SPDR ETF was satisfactory.
The Board considered the profitability of the advisory arrangement with the SPDR ETFs to the Adviser, including data on the SPDR ETFs’ historical profitability to the Adviser. The Independent Trustees, through their counsel, had the opportunity to discuss, with representatives of the Adviser and State Street, methodologies used in computing costs that formed the bases of profitability calculations and determined that these methodologies were reasonable. The Board concluded that, to the extent that the Adviser’s relationships with the SPDR ETFs had been profitable, profitability was not excessive.
The Board considered whether the Adviser or its affiliates benefited in other ways from their relationship with the Trust, noting that the Adviser does not maintain soft-dollar arrangements in connection with the Trust’s brokerage transactions. The Board concluded that, to the extent that the Adviser or its affiliates derive benefits from their relationship with the Trust, those benefits are not so significant as to cause the Adviser’s fees with respect to the SPDR ETFs to be excessive.
The Board determined that the Adviser is likely to realize economies of scale in managing the SPDR ETFs as assets grow in size. The Board further determined that such economies of scale are currently shared with the SPDR ETFs by way of the relatively low advisory fee and unitary fee structure of the Trust, although the Board intends to continue to monitor fees as SPDR ETFs grow in size and assess whether fee breakpoints may be warranted.
The Board evaluated the SPDR ETFs’ unitary fee through review of comparative information with respect to fees paid by similar funds — i.e., exchange-traded funds tracking equity indexes. The Board reviewed the universe of similar exchange-traded funds for the SPDR ETFs based upon data from Lipper Analytical Services and related comparative information for similar exchange-traded funds. The Board also reviewed the historical expense ratios of the SPDR ETFs, estimated expense ratios of the new SPDR ETFs, and the unitary fee structure. The Board used a fund by fund analysis of the data. The Board concluded, based on the information presented, that each SPDR ETF’s fees were fair and reasonable in light of those of their direct competitors.
The Board, including the Independent Trustees voting separately, approved the Investment Advisory Agreement after weighing the foregoing factors, none of which was dispositive in itself and may have been weighed by each Trustee differently. The Board’s conclusions regarding the Investment Advisory Agreement were as follows: (a) the nature and extent of the services provided by, or expected to be provided by, the Adviser with respect to the SPDR ETFs were appropriate; (b) the performance and, more importantly, the index tracking, of each SPDR ETF had been satisfactory; (c) the Adviser’s fees for each SPDR ETF and the unitary fee, considered in relation to services provided or expected
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SPDR SERIES TRUST
OTHER INFORMATION (continued)
OTHER INFORMATION (continued)
December 31, 2010 (Unaudited)
to be provided, were fair and reasonable; (d) profitability of the Trust’s relationship with the Adviser was not excessive; (e) any additional benefits to the Adviser or its affiliates were not of a magnitude to materially affect the Board’s conclusions; and (f) fees paid to the Adviser adequately shared the economies of scale with the SPDR ETFs by way of the relatively low fee structure of the Trust.
The Board also considered the renewal of the Sub-Advisory Agreement (the “Sub-Advisory Agreement”) between the Trust and The Tuckerman Group LLC, an affiliate of the Adviser (the “Sub-Adviser”) with respect to the real estate series of the Trust (the “Real Estate ETF”), after review of materials provided to them at their request by independent legal counsel, the Adviser, Sub-Adviser and State Street. In deciding whether to approve the Sub-Advisory Agreement, the Board considered various factors, including (i) the nature, extent and quality of services provided by the Sub-Adviser with respect to the Real Estate ETF under the Sub-Advisory Agreement, (ii) investment performance of the Real Estate ETF, (iii) fees charged by the Sub-Adviser and any additional benefits received by the Sub-Adviser due to its relationship with the Adviser and the Trust, and (iv) the extent to which economies of scale would be realized if and as the Real Estate ETF grows and whether fee levels in the Sub-Advisory Agreement reflect these economies of scale.
The Board considered the background and experience of the Sub-Adviser’s senior management and in particular the Sub-Adviser’s experience in investing in real estate investment trusts. The Board considered that the Real Estate ETF satisfactorily tracked its benchmark index. In light of the Board’s determination that the unitary fee paid to the Adviser by the Real Estate ETF was fair and reasonable and that the Sub-Adviser’s fees are paid by the Adviser, the Board did not believe it necessary to evaluate the Sub-Adviser’s profitability.
The Board, including the Independent Trustees voting separately, approved the Sub-Advisory Agreement after weighing the foregoing factors, none of which was dispositive in itself and may have been weighed by each Trustee differently. The Board’s conclusions with respect to the Sub-Advisory Agreement were as follows: (a) the nature and extent of the services provided by the Sub-Adviser to the Real Estate ETF was appropriate; (b) the performance and, more importantly, the index tracking, of the Real Estate ETF had been satisfactory; (c) the Sub-Adviser’s fees for the Real Estate ETF and the unitary fee, considered in relation to the services provided, were fair and reasonable; (d) any additional benefits to the Sub-Adviser were not of a magnitude to materially affect the Board’s conclusions; and (e) the fees paid to the Sub-Adviser adequately shared the economies of scale with the Real Estate ETF.
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The SPDR® Family of Exchange Traded Funds
The following is a list of SPDR ETFs being offered, along with their respective exchange trading symbols. Please call 1-866-787-2257 to obtain a prospectus for any SPDR ETF. The prospectus contains more complete information, including charges, expenses, investment objectives and risk factors that should be carefully considered to determine if the Fund(s) are an appropriate investment for you. Read the prospectus(es) carefully before investing. Investing involves risk, including possible loss of principal.
SPDR Series Trust
SPDR Dow Jones Total Market ETF (TMW)
SPDR Dow Jones Large Cap ETF (ELR)
SPDR S&P 500 Growth ETF (SPYG)
SPDR S&P 500 Value ETF (SPYV)
SPDR Dow Jones Mid Cap ETF (EMM)
SPDR S&P 400 Mid Cap Growth ETF (MDYG)
SPDR S&P 400 Mid Cap Value ETF (MDYV)
SPDR S&P 600 Small Cap ETF (SLY)
SPDR S&P 600 Small Cap Growth ETF (SLYG)
SPDR S&P 600 Small Cap Value ETF (SLYV)
SPDR DJ Global Titans ETF (DGT)
SPDR Dow Jones REIT ETF (RWR)
SPDR KBW Bank ETF (KBE)
SPDR KBW Capital Markets ETF (KCE)
SPDR KBW Insurance ETF (KIE)
SPDR KBW Mortgage Finance ETF(KME)
SPDR KBW Regional Banking ETF (KRE)
SPDR Morgan Stanley Technology ETF (MTK)
SPDR S&P Dividend ETF (SDY)
SPDR S&P Biotech ETF (XBI)
SPDR S&P Health Care Equipment ETF (XHE)
SPDR S&P Homebuilders ETF (XHB)
SPDR S&P Metals & Mining ETF (XME)
SPDR S&P Oil & Gas Equipment & Services ETF (XES)
SPDR S&P Oil & Gas Exploration & Production ETF (XOP)
SPDR S&P Pharmaceuticals ETF (XPH)
SPDR S&P Retail ETF (XRT)
SPDR S&P Semiconductor ETF (XSD)
SPDR S&P Telecom ETF (XTL)
SPDR S&P Transportation ETF (XTN)
SPDR Wells Fargo Preferred Stock ETF (PSK)
SPDR Barclays Capital 1-3 Month T-Bill ETF (BIL)
SPDR Barclays Capital TIPS ETF (IPE)
SPDR Barclays Capital Intermediate Term Treasury ETF (ITE)
SPDR Barclays Capital Long Term Treasury ETF (TLO)
SDPR Barclays Capital Short Term Corporate Bond ETF (SCPB)
SPDR Barclays Capital Intermediate Term Corporate Bond ETF (ITR)
SPDR Barclays Capital Long Term Corporate Bond ETF (LWC)
SPDR Barclays Capital Convertible Securities ETF (CWB)
SPDR Barclays Capital Mortgage Backed Bond ETF (MBG)
SPDR Barclays Capital Aggregate Bond ETF (LAG)
SPDR Nuveen Barclays Capital Municipal Bond ETF (TFI)
SPDR Nuveen Barclays Capital California Municipal Bond ETF (CXA)
SPDR Nuveen Barclays Capital New York Municipal Bond ETF (INY)
SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF (SHM)
SPDR Nuveen S&P VRDO Municipal Bond ETF (VRD)
SPDR Nuveen Barclays Capital Build America Bond ETF
SPDR DB International Government Inflation-Protected Bond ETF (WIP)
SPDR Barclays Capital Short Term International Treasury Bond ETF (BWZ)
SPDR Barclays Capital International Treasury Bond ETF (BWX)
SPDR Barclays Capital International Corporate Bond ETF (IBND)
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SPDR Barclays Capital Emerging Markets Local Bond ETF (EBND)
SPDR Barclays Capital High Yield Bond ETF (JNK)
The Select Sectors SPDR Trust
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 Technology Select Sector SPDR Fund (XLK)
The Utilities Select Sector SPDR Fund (XLU)
SPDR Index Shares Funds
SPDR STOXX Europe 50 ETF (FEU)
SPDR EURO STOXX 50 ETF (FEZ)
SPDR S&P Emerging Asia Pacific ETF (GMF)
SPDR S&P Russia ETF (RBL)
SPDR S&P China ETF (GXC)
SPDR S&P Emerging Markets ETF (GMM)
SPDR S&P Emerging Markets Dividend ETF (EDIV)
SPDR S&P BRIC 40 ETF (BIK)
SPDR S&P Emerging Europe ETF (GUR)
SPDR S&P Emerging Latin America ETF GML)
SPDR S&P Emerging Middle East & Africa ETF (GAF)
SPDR S&P World ex-US ETF (GWL)
SPDR S&P International Small Cap ETF (GWX)
SPDR Dow Jones International Real Estate ETF (RWX)
SPDR FTSE/Macquarie Global Infrastructure 100 ETF (GII)
SPDR MSCI ACWI ex-US ETF (CWI)
SPDR Russell/Nomura PRIME Japan ETF (JPP)
SPDR Russell/Nomura Small Cap Japan ETF (JSC)
SPDR S&P International Dividend ETF (DWX)
SPDR S&P International Mid Cap ETF (MDD)
SPDR S&P Emerging Markets Small Cap ETF (EWX)
SPDR Dow Jones Global Real Estate ETF (RWO)
SPDR S&P Global Natural Resources ETF (GNR)
SPDR S&P International Consumer Discretionary Sector ETF (IPD)
SPDR S&P International Consumer Staples Sector ETF (IPS)
SPDR S&P International Energy Sector ETF (IPW)
SPDR S&P International Financial Sector ETF (IPF)
SPDR S&P International Health Care Sector ETF (IRY)
SPDR S&P International Industrial Sector ETF (IPN)
SPDR S&P International Materials Sector ETF (IRV)
SPDR S&P International Technology Sector ETF (IPK)
SPDR S&P International Telecommunications Sector ETF (IST)
SPDR S&P International Utilities Sector ETF (IPU)
SPDR Dow Jones Industrial Average ETF Trust (DIA)
SPDR S&P 500 ETF Trust (SPY)
State Street Global Markets, LLC, member FINRA, SIPC, is distributor for all investment portfolios of SPDR Series Trust and SPDR Index Shares Funds. ALPS Distributors, Inc., a registered broker-dealer, is distributor for SPDR S&P 500 ETF Trust (SPY) and SPDR Dow Jones Industrial Average ETF Trust (DIA), both unit investment trusts, and all investment portfolios of The Select Sector SPDR Trust.
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SPDR Series Trust
trustees
Bonny E. Boatman
Dwight D. Churchill
David M. Kelly
Frank Nesvet, Chairman
James E. Ross
Carl G. Verboncoeur
Bonny E. Boatman
Dwight D. Churchill
David M. Kelly
Frank Nesvet, Chairman
James E. Ross
Carl G. Verboncoeur
officers
James E. Ross, President
Anthony Rochte, Vice President
Ellen M. Needham, Vice President
Michael P. Riley, Vice President
Chad C. Hallett, Treasurer
Matthew W. Flaherty, Assistant Treasurer
Laura F. Healy, Assistant Treasurer
Ryan M. Louvar, Secretary
Mark E. Tuttle, Assistant Secretary
Cuan Coulter, Chief Compliance Officer (through 2/22/11)
Jacqueline Angell, Chief Compliance Officer (effective 2/22/11)
James E. Ross, President
Anthony Rochte, Vice President
Ellen M. Needham, Vice President
Michael P. Riley, Vice President
Chad C. Hallett, Treasurer
Matthew W. Flaherty, Assistant Treasurer
Laura F. Healy, Assistant Treasurer
Ryan M. Louvar, Secretary
Mark E. Tuttle, Assistant Secretary
Cuan Coulter, Chief Compliance Officer (through 2/22/11)
Jacqueline Angell, Chief Compliance Officer (effective 2/22/11)
investment manager
SSgA Funds Management, Inc.
State Street Financial Center
One Lincoln Street
Boston, MA 02111
SSgA Funds Management, Inc.
State Street Financial Center
One Lincoln Street
Boston, MA 02111
distributor
State Street Global Markets, LLC
One Lincoln Street
Boston, MA 02111
State Street Global Markets, LLC
One Lincoln Street
Boston, MA 02111
custodian, administrator and transfer agent
State Street Bank and Trust Company
One Lincoln Street
Boston, MA 02111
State Street Bank and Trust Company
One Lincoln Street
Boston, MA 02111
legal counsel
Morgan, Lewis and Bockius LLP
1111 Pennsylvania Avenue, NW
Washington, DC 20004
Morgan, Lewis and Bockius LLP
1111 Pennsylvania Avenue, NW
Washington, DC 20004
independent registered public accounting firm
Ernst & Young LLP
200 Clarendon Street
Boston, MA 02116
Ernst & Young LLP
200 Clarendon Street
Boston, MA 02116
Fund Shares are distributed by State Street Global Markets, LLC, a wholly-owned subsidiary of State Street Corporation. State Street Global Markets, LLC; member FINRA, SIPC.
The information contained in this report is intended for the general information of shareholders of the Trust. This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current Trust prospectus which contains important information concerning the Trust. You may obtain a current prospectus and SAI from the Distributor by calling 1-866-787-2257 or visiting www.spdrs.com Please read the prospectus carefully before you invest.
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State Street Global Advisors
State Street Financial Center
One Lincoln Street
Boston, MA 02111
State Street Financial Center
One Lincoln Street
Boston, MA 02111
ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.
For SPDR S&P 600 Small Cap ETF, SPDR S&P 600 Small Cap Growth ETF, SPDR S&P 600 Small Cap Value ETF, SPDR Morgan Stanley Technology ETF, SPDR Dow Jones REIT ETF, SPDR KBW Bank ETF, SPDR KBW Capital Markets ETF, SPDR KBW Insurance ETF, SPDR KBW Regional Banking ETF, SPDR KBW Mortgage Finance ETF, SPDR S&P Dividend ETF, SPDR S&P Biotech ETF, SPDR Homebuilders ETF, SPDR Semiconductor ETF, SPDR S&P Metals & Mining ETF, SPDR S&P Oil & Gas Equipment & Services ETF, SPDR S&P Oil & Gas Exploration & Production ETF, SPDR S&P Pharmaceuticals ETF and SPDR S&P Retail ETF: In addition to the normal risks associated with equity investing, narrowly focused investments and investments in smaller companies typically exhibit higher volatility and price fluctuation.
For SPDR DJ Global Titans ETF: International investments may involve risk of capital loss from unfavorable fluctuations in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations.
For SPDR Wells Fargo Preferred Stock ETF: Preferred Securities are subordinated to bonds and other debt instruments, and will be subject to greater credit risk. The fund may contain interest rate risk (as interest rates rise bond prices usually fall); the risk of issuer default; inflation risk; and issuer call risk. The Fund may invest in US dollar-denominated securities of foreign issuers traded in the United States.
In general, Fund shares can be expected to move up or down in value with the value of the applicable index. Although Fund shares may be bought and sold on the exchange through any brokerage account, Fund shares are not individually redeemable from the Fund. Investors may directly acquire shares of the Funds and tender them for redemption in Creation Unit Aggregations only. Please see the prospectus for more details.
The Funds are not sponsored, endorsed, sold, or promoted by Dow Jones & Company, Morgan Stanley, Keefe, Bruyette & Woods, Inc., Standard & Poor’s and Wells Fargo & Company. Neither do these companies make any representation regarding the advisability of investing in the Funds. The Funds are distributed by State Street Global Markets, LLC, a wholly-owned subsidiary of State Street Corporation. State Street Global Markets, LLC is a member of FINRA, SIPC, and the Boston Stock Exchange. References to State Street may include State Street Corporation and its affiliates. Shares of the Funds are not insured by the FDIC or by another governmental agency; they are not obligations of the FDIC nor are they deposits or obligations of or guaranteed by State Street Bank and Trust Company. Fund shares are subject to investment risks, including possible loss of the principal invested. The Funds pay State Street for its services as investment advisor, custodian, transfer agent and administrator shareholder servicing agent.
SPDR® is a registered trademark of Standard & Poor Financial Services LLC (“S&P”) and has been licensed for use by State Street Corporation. No financial product offered by State Street Corporation or its affiliates is sponsored, endorsed, sold or promoted by S&P or its Affiliates, and S&P and its affiliates make no representation, warranty or condition regarding the advisability of buying, selling or holding units/shares in such products. Further limitations and important information that could affect investors’ rights are described in the prospectus for the applicable product.
This information must be preceded or accompanied by a current prospectus or summary prospectus. Please read the prospectus carefully before you invest or send money. © 2010 State Street Corporation SPDREQSAR
IBG-3356
For more complete information, please call 866.787.2257 or visit www.spdrs.com today
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SPDR® Series Trust – Fixed Income Funds
Semi-Annual Report December 31, 2010
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Performance & Portfolio Summary | ||
SPDR Barclays Capital 1-3 Month T-Bill ETF (BIL) | 1 | |
SPDR Barclays Capital TIPS ETF (IPE) | 4 | |
SPDR Barclays Capital Intermediate Term Treasury ETF (ITE) | 7 | |
SPDR Barclays Capital Long Term Treasury ETF (TLO) | 10 | |
SPDR Barclays Capital Intermediate Term Corporate Bond ETF (ITR) (formerly SPDR Barclays Capital Intermediate Term Credit Bond ETF) | 13 | |
SPDR Barclays Capital Long Term Corporate Bond ETF (LWC) (formerly SPDR Barclays Capital Long Term Credit Bond ETF) | 16 | |
SPDR Barclays Capital Convertible Securities ETF (CWB) | 19 | |
SPDR Barclays Capital Mortgage Backed Bond ETF (MBG) | 22 | |
SPDR Barclays Capital Aggregate Bond ETF (LAG) | 25 | |
SPDR Nuveen Barclays Capital Municipal Bond ETF (TFI) | 28 | |
SPDR Nuveen Barclays Capital California Municipal Bond ETF (CXA) | 31 | |
SPDR Nuveen Barclays Capital New York Municipal Bond ETF (INY) | 34 | |
SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF (SHM) | 37 | |
SPDR Nuveen S&P® VRDO Municipal Bond ETF (VRD) | 40 | |
SPDR Nuveen Barclays Capital Build America Bond ETF (BABS) | 43 | |
SPDR DB International Government Inflation-Protected Bond ETF (WIP) | 46 | |
SPDR Barclays Capital Short Term International Treasury Bond ETF (BWZ) | 49 | |
SPDR Barclays Capital International Treasury Bond ETF (BWX) | 52 | |
SPDR Barclays Capital International Corporate Bond ETF (IBND) | 55 | |
SPDR Barclays Capital High Yield Bond ETF (JNK) | 58 | |
SPDR Barclays Capital Short Term Corporate Bond ETF (SCPB) | 61 | |
Schedules of Investments | ||
SPDR Barclays Capital 1-3 Month T-Bill ETF (BIL) | 64 | |
SPDR Barclays Capital TIPS ETF (IPE) | 65 | |
SPDR Barclays Capital Intermediate Term Treasury ETF (ITE) | 66 | |
SPDR Barclays Capital Long Term Treasury ETF (TLO) | 68 | |
SPDR Barclays Capital Intermediate Term Corporate Bond ETF (ITR) | 69 | |
SPDR Barclays Capital Long Term Corporate Bond ETF (LWC) | 76 | |
SPDR Barclays Capital Convertible Securities ETF (CWB) | 81 | |
SPDR Barclays Capital Mortgage Backed Bond ETF (MBG) | 85 | |
SPDR Barclays Capital Aggregate Bond ETF (LAG) | 86 | |
SPDR Nuveen Barclays Capital Municipal Bond ETF (TFI) | 93 | |
SPDR Nuveen Barclays Capital California Municipal Bond ETF (CXA) | 100 | |
SPDR Nuveen Barclays Capital New York Municipal Bond ETF (INY) | 102 | |
SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF (SHM) | 104 | |
SPDR Nuveen S&P VRDO Municipal Bond ETF (VRD) | 112 | |
SPDR Nuveen Barclays Capital Build America Bond ETF (BABS) | 114 | |
SPDR DB International Government Inflation-Protected Bond ETF (WIP) | 118 | |
SPDR Barclays Capital Short Term International Treasury Bond ETF (BWZ) | 120 | |
SPDR Barclays Capital International Treasury Bond ETF (BWX) | 122 |
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SPDR Barclays Capital International Corporate Bond ETF (IBND) | 125 | |
SPDR Barclays Capital High Yield Bond ETF (JNK) | 128 | |
SPDR Barclays Capital Short Term Corporate Bond ETF (SCPB) | 133 | |
Financial Statements | 140 | |
Financial Highlights | 160 | |
Notes to Financial Statements | 172 | |
Other Information | 188 |
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SPDR Barclays Capital 1-3 Month T-Bill ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (5/25/07, 5/30/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Barclays Capital 1-3 Month T-Bill ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.1345%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
BARCLAYS CAPITAL | BARCLAYS CAPITAL | |||||||||||||||||||||||
NET ASSET | MARKET | 1-3 MONTH U.S. | NET ASSET | MARKET | 1-3 MONTH U.S. | |||||||||||||||||||
VALUE | VALUE | TREASURY BILL INDEX | VALUE | VALUE | TREASURY BILL INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 0.01% | −0.02% | 0.08% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 0.01% | 0.00% | 0.13% | 0.01% | 0.00% | 0.13% | ||||||||||||||||||
THREE YEARS | 1.85% | 1.80% | 2.06% | 0.61% | 0.59% | 0.68% | ||||||||||||||||||
SINCE INCEPTION (1) | 4.52% | 4.53% | 4.82% | 1.24% | 1.24% | 1.32% | ||||||||||||||||||
(1) | For the period May 25, 2007 to December 31, 2010. |
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SPDR Barclays Capital 1-3 Month T-Bill ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
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SPDR Barclays Capital 1-3 Month T-Bill ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
U.S. TREASURY BILL | U.S. TREASURY BILL | U.S. TREASURY BILL | U.S. TREASURY BILL | U.S. TREASURY BILL | ||||||
DESCRIPTION | 0.15%, 2/10/2011 | 0.12%, 3/10/2011 | 0.15%, 2/3/2011 | 0.15%, 2/17/2011 | 0.16%, 2/24/2011 | |||||
MARKET VALUE | $148,519,971 | 148,501,737 | 103,093,440 | 103,086,865 | 103,083,215 | |||||
% OF NET ASSETS | 14.7 | 14.7 | 10.2 | 10.2 | 10.2 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
U.S. Treasury Obligations | 100.0 | % | ||||
Short Term Investment | 0.0 | ** | ||||
Other Assets & Liabilities | 0.0 | ** | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. | |
** | Amount represents less than 0.05% of net assets. |
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SPDR Barclays Capital TIPS ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (5/25/07, 5/30/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Barclays Capital TIPS ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.1845%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
BARCLAYS U.S. | BARCLAYS U.S. | |||||||||||||||||||||||
GOVERNMENT | GOVERNMENT | |||||||||||||||||||||||
NET ASSET | MARKET | INFLATION-LINKED | NET ASSET | MARKET | INFLATION-LINKED | |||||||||||||||||||
VALUE | VALUE | BOND INDEX | VALUE | VALUE | BOND INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 1.72% | 1.66% | 1.83% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 6.13% | 6.11% | 6.33% | 6.13% | 6.11% | 6.33% | ||||||||||||||||||
THREE YEARS | 15.24% | 15.06% | 15.47% | 4.84% | 4.79% | 4.91% | ||||||||||||||||||
SINCE INCEPTION (1) | 26.09% | 26.16% | 26.63% | 6.64% | 6.66% | 6.77% | ||||||||||||||||||
(1) | For the period May 25, 2007 to December 31, 2010. |
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SPDR Barclays Capital TIPS ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370102.gif)
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SPDR Barclays Capital TIPS ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
TREASURY INFLATION | TREASURY INFLATION | TREASURY INFLATION | TREASURY INFLATION | TREASURY INFLATION | ||||||
PROTECTED INDEXED | PROTECTED INDEXED | PROTECTED INDEXED | PROTECTED INDEXED | PROTECTED INDEXED | ||||||
DESCRIPTION | BOND, 2.38%, 1/15/2025 | BOND, 3.88%, 4/15/2029 | BOND, 1.25%, 7/15/2020 | NOTE, 3.00%, 7/15/2012 | BOND, 3.63%, 4/15/2028 | |||||
MARKET VALUE | $20,433,312 | 19,440,443 | 18,796,342 | 16,812,338 | 16,559,393 | |||||
% OF NET ASSETS | 5.7 | 5.4 | 5.2 | 4.7 | 4.6 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
U.S. Treasury Obligations | 99.2 | % | ||||
Short Term Investments | 1.9 | |||||
Other Assets & Liabilities | (1.1 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. |
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SPDR Barclays Capital Intermediate Term Treasury ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (5/23/07, 5/30/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Barclays Capital Intermediate Term Treasury ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.1345%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
BARCLAYS CAPITAL | BARCLAYS CAPITAL | |||||||||||||||||||||||
NET ASSET | MARKET | INTERMEDIATE U.S. | NET ASSET | MARKET | INTERMEDIATE U.S. | |||||||||||||||||||
VALUE | VALUE | TREASURY INDEX | VALUE | VALUE | TREASURY INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 0.46% | 0.42% | 0.52% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 5.15% | 5.08% | 5.29% | 5.15% | 5.08% | 5.29% | ||||||||||||||||||
THREE YEARS | 15.53% | 15.36% | 15.59% | 4.93% | 4.88% | 4.95% | ||||||||||||||||||
SINCE INCEPTION (1) | 23.75% | 23.70% | 24.00% | 6.08% | 6.07% | 6.14% | ||||||||||||||||||
(1) | For the period May 23, 2007 to December 31, 2010. |
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SPDR Barclays Capital Intermediate Term Treasury ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370103.gif)
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SPDR Barclays Capital Intermediate Term Treasury ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
U.S. TREASURY NOTE | U.S. TREASURY NOTE | U.S. TREASURY NOTE | U.S. TREASURY NOTE | U.S. TREASURY NOTE | ||||||
DESCRIPTION | 3.38%, 11/15/2019 | 3.50%, 5/15/2020 | 3.13%, 5/15/2019 | 3.63%, 2/15/2020 | 3.63%, 8/15/2019 | |||||
MARKET VALUE | $4,449,057 | 3,701,640 | 3,347,985 | 2,967,099 | 2,962,599 | |||||
% OF NET ASSETS | 2.2 | 1.8 | 1.6 | 1.4 | 1.4 | |||||
ASSET ALLOCATION AT DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
U.S. Treasury Obligations | 99.4 | % | ||||
Short Term Investments | 20.6 | |||||
Other Assets & Liabilities | (20.0 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. |
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SPDR Barclays Capital Long Term Treasury ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (5/23/07, 5/30/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Barclays Capital Long Term Treasury ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.1345%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
BARCLAYS CAPITAL | BARCLAYS CAPITAL | |||||||||||||||||||||||
NET ASSET | MARKET | LONG U.S. TREASURY | NET ASSET | MARKET | LONG U.S. TREASURY | |||||||||||||||||||
VALUE | VALUE | INDEX | VALUE | VALUE | INDEX | |||||||||||||||||||
SIX MONTHS ENDED | −3.44% | −3.72% | −3.38% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 9.24% | 8.91% | 9.38% | 9.24% | 8.91% | 9.38% | ||||||||||||||||||
THREE YEARS | 18.21% | 18.18% | 18.13% | 5.73% | 5.73% | 5.71% | ||||||||||||||||||
SINCE INCEPTION (1) | 29.69% | 29.28% | 29.83% | 7.47% | 7.37% | 7.49% | ||||||||||||||||||
(1) | For the period May 23, 2007 to December 31, 2010. |
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SPDR Barclays Capital Long Term Treasury ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370104.gif)
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SPDR Barclays Capital Long Term Treasury ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
U.S. TREASURY BOND | U.S. TREASURY BOND | U.S. TREASURY BOND | U.S. TREASURY BOND | U.S. TREASURY BOND | ||||||
DESCRIPTION | 4.38%, 11/15/2039 | 4.38%, 5/15/2040 | 4.63%, 2/15/2040 | 4.50%, 8/15/2039 | 3.88%, 8/15/2040 | |||||
MARKET VALUE | $1,805,357 | 1,789,042 | 1,760,959 | 1,620,036 | 1,605,948 | |||||
% OF NET ASSETS | 6.5 | 6.4 | 6.3 | 5.8 | 5.7 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
U.S. Treasury Obligations | 98.7 | % | ||||
Short Term Investments | 18.7 | |||||
Other Assets & Liabilities | (17.4 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. |
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SPDR Barclays Capital Intermediate Term Corporate Bond ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until a day after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (2/10/09, 2/11/09, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Barclays Capital Intermediate Term Corporate Bond ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.1500%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||||||||||
BARCLAYS | BARCLAYS CAPITAL | BARCLAYS | BARCLAYS CAPITAL | |||||||||||||||||||||||||||||
CAPITAL U.S. | U.S. INTERMEDIATE | CAPITAL U.S. | U.S. INTERMEDIATE | |||||||||||||||||||||||||||||
NET ASSET | MARKET | INTERMEDIATE | CORPORATE BOND | NET ASSET | MARKET | INTERMEDIATE | CORPORATE BOND | |||||||||||||||||||||||||
VALUE | VALUE | CREDIT INDEX | INDEX | VALUE | VALUE | CREDIT INDEX | INDEX | |||||||||||||||||||||||||
SIX MONTHS ENDED (1) | 2.64% | 1.98% | 2.80% | 3.06% | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
ONE YEAR (1) | 7.34% | 7.04% | 7.76% | 8.27% | 7.34% | 7.04% | 7.76% | 8.27% | ||||||||||||||||||||||||
SINCE INCEPTION (1)(2) | 18.08% | 17.97% | 22.92% | 26.66% | 9.19% | 9.14% | 11.56% | 13.32% | ||||||||||||||||||||||||
(1) | Effective December 17, 2010, the Fund changed its benchmark index to the Barclays Capital U.S. Intermediate Corporate Bond Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. | |
(2) | For the period February 10, 2009 to December 31, 2010. |
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SPDR Barclays Capital Intermediate Term Corporate Bond ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370105.gif)
(1) | Effective December 17, 2010, the Fund changed its benchmark index to the Barclays Capital U.S. Intermediate Corporate Bond Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. |
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SPDR Barclays Capital Intermediate Term Corporate Bond ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
GENERAL ELECTRIC | JPMORGAN CHASE | THE GOLDMAN | MERRILL LYNCH | MORGAN | ||||||
CAPITAL CORP., | & CO., | SACHS GROUP, INC., | & CO., INC., | STANLEY, | ||||||
DESCRIPTION | 4.80%, 5/1/2013 | 4.65%, 6/1/2014 | 5.95%, 1/18/2018 | 6.88%, 4/25/2018 | 3.45%, 11/2/2015 | |||||
MARKET VALUE | $2,786,009 | 1,881,057 | 1,792,677 | 1,545,933 | 1,463,088 | |||||
% OF NET ASSETS | 1.9 | 1.3 | 1.3 | 1.1 | 1.0 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
Corporate Bonds & Notes | 97.3 | % | ||||
Short Term Investments | 4.1 | |||||
Other Assets & Liabilities | (1.4 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. |
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SPDR Barclays Capital Long Term Corporate Bond ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until a day after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (3/10/09, 3/11/09, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Barclays Capital Long Term Corporate Bond ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.1500%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||||||||||
BARCLAYS | BARCLAYS | |||||||||||||||||||||||||||||||
CAPITAL U.S. | BARCLAYS CAPITAL | CAPITAL U.S. | BARCLAYS CAPITAL | |||||||||||||||||||||||||||||
NET ASSET | MARKET | LONG CREDIT | U.S. LONG CORPORATE | NET ASSET | MARKET | LONG CREDIT | U.S. LONG CORPORATE | |||||||||||||||||||||||||
VALUE | VALUE | INDEX | BOND INDEX | VALUE | VALUE | INDEX | BOND INDEX | |||||||||||||||||||||||||
SIX MONTHS ENDED (1) | 2.73% | 1.87% | 2.43% | 2.97% | N/A | N/A | N/A | N/A | ||||||||||||||||||||||||
ONE YEAR (1) | 9.87% | 9.12% | 10.69% | 11.20% | 9.87% | 9.12% | 10.69% | 11.20% | ||||||||||||||||||||||||
SINCE INCEPTION (1)(2) | 35.18% | 35.25% | 40.65% | 43.37% | 18.08% | 18.12% | 20.74% | 22.00% | ||||||||||||||||||||||||
(1) | Effective December 17, 2010, the Fund changed its benchmark index to the Barclays Capital U.S. Long Corporate Bond Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. | |
(2) | For the period March 10, 2009 to December 31, 2010. |
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SPDR Barclays Capital Long Term Corporate Bond ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370106.gif)
(1) | Effective December 17, 2010, the Fund changed its benchmark index to the Barclays Capital U.S. Long Corporate Bond Index. The Fund’s performance in the table above is based on the Fund’s prior investment strategy to track a different benchmark index. |
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SPDR Barclays Capital Long Term Corporate Bond ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
GENERAL ELECTRIC | GENERAL ELECTRIC | |||||||||
CAPITAL CORP., | AT&T, INC., | HSBC HOLDINGS PLC, | CAPITAL CORP., | CITIGROUP, INC., | ||||||
DESCRIPTION | 5.88%, 1/14/2038 | 5.35%, 9/1/2040 | 6.50%, 9/15/2037 | 6.75%, 3/15/2032 | 6.88%, 3/5/2038 | |||||
MARKET VALUE | $422,727 | 419,798 | 389,370 | 372,315 | 359,077 | |||||
% OF NET ASSETS | 1.5 | 1.5 | 1.4 | 1.3 | 1.3 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
Corporate Bonds & Notes | 97.6 | % | ||||
Short Term Investments | 5.1 | |||||
Other Assets & Liabilities | (2.7 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. |
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SPDR Barclays Capital Convertible Securities ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until a day after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (4/14/09, 4/15/09, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Barclays Capital Convertible Securities ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.4000%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
BARCLAYS CAPITAL | BARCLAYS CAPITAL | |||||||||||||||||||||||
U.S. CONVERTIBLE | U.S. CONVERTIBLE | |||||||||||||||||||||||
NET ASSET | MARKET | BOND | NET ASSET | MARKET | BOND | |||||||||||||||||||
VALUE | VALUE | >$500MM INDEX | VALUE | VALUE | >$500MM INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 16.31% | 17.33% | 17.42% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 13.99% | 13.80% | 15.01% | 13.99% | 13.80% | 15.01% | ||||||||||||||||||
SINCE INCEPTION (1) | 48.19% | 49.35% | 55.92% | 25.73% | 26.30% | 29.55% | ||||||||||||||||||
(1) | For the period April 14, 2009 to December 31, 2010. |
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SPDR Barclays Capital Convertible Securities ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370107.gif)
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SPDR Barclays Capital Convertible Securities ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
WELLS FARGO & CO., | BANK OF AMERICA | FORD MOTOR CO. | ||||||||
GENERAL MOTORS CO., | CITIGROUP, INC., | SERIES L, | CORP., SERIES L, | CAPITAL TRUST II, | ||||||
DESCRIPTION | 4.75%, 12/1/2013 | 7.50%, 12/15/2012 | 7.50%, 12/31/2049 | 7.25%, 12/31/2049 | 6.50%, 1/15/2032 | |||||
MARKET VALUE | $23,321,410 | 17,657,478 | 16,208,910 | 12,981,298 | 12,079,127 | |||||
% OF NET ASSETS | 4.4 | 3.3 | 3.0 | 2.4 | 2.3 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
Convertible Corporate Bonds & Notes | 74.7 | % | ||||
Convertible Preferred Stocks | 24.3 | |||||
Common Stocks | 0.0 | ** | ||||
Short Term Investments | 13.9 | |||||
Other Assets & Liabilities | (12.9 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. | |
** | Amount represents less than 0.05% of net assets. |
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SPDR Barclays Capital Mortgage Backed Bond ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (1/15/09, 1/27/09, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Barclays Capital Mortgage Backed Bond ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.3200%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
NET ASSET | MARKET | BARCLAYS CAPITAL | NET ASSET | MARKET | BARCLAYS CAPITAL | |||||||||||||||||||
VALUE | VALUE | U.S. MBS INDEX | VALUE | VALUE | U.S. MBS INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 0.97% | 0.67% | 0.87% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 6.06% | 5.86% | 5.37% | 6.06% | 5.86% | 5.37% | ||||||||||||||||||
SINCE INCEPTION (1) | 11.01% | 10.76% | 10.55% | 5.47% | 5.35% | 5.25% | ||||||||||||||||||
(1) | For the period January 15, 2009 to December 31, 2010. |
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SPDR Barclays Capital Mortgage Backed Bond ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370108.gif)
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SPDR Barclays Capital Mortgage Backed Bond ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
FANNIE MAE, | FREDDIE MAC, | FREDDIE MAC, | GINNIE MAE, | FREDDIE MAC, | ||||||
DESCRIPTION | 5.00%, 30YR TBA | 5.50%, 30YR TBA | 4.50%, 30YR TBA | 4.50%, 30YR TBA | 6.00%, 30YR TBA | |||||
MARKET VALUE | $3,154,219 | 2,985,281 | 2,870,000 | 2,284,562 | 2,166,875 | |||||
% OF NET ASSETS | 9.8 | 9.3 | 8.9 | 7.1 | 6.7 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
U.S. Government Agency MBS TBA | 99.8 | % | ||||
Short Term Investment | 101.3 | |||||
Other Assets & Liabilities | (101.1 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. |
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SPDR Barclays Capital Aggregate Bond ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (5/23/07, 5/30/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Barclays Capital Aggregate Bond ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.2245%.*
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
BARCLAYS CAPITAL | BARCLAYS CAPITAL | |||||||||||||||||||||||
NET ASSET | MARKET | U.S. AGGREGATE | NET ASSET | MARKET | U.S. AGGREGATE | |||||||||||||||||||
VALUE | VALUE | INDEX | VALUE | VALUE | INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 1.23% | 1.17% | 1.15% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 6.67% | 6.45% | 6.54% | 6.67% | 6.45% | 6.54% | ||||||||||||||||||
THREE YEARS | 19.71% | 19.38% | 18.77% | 6.18% | 6.08% | 5.90% | ||||||||||||||||||
SINCE INCEPTION (1) | 26.18% | 26.04% | 25.36% | 6.65% | 6.62% | 6.47% | ||||||||||||||||||
(1) | For the period May 23, 2007 to December 31, 2010. | |
* | SSgA Funds Management, Inc. has contractually agreed to limit its management fee to the extent necessary to limit annual operating expenses to 0.1345% until October 31, 2011. |
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SPDR Barclays Capital Aggregate Bond ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370109.gif)
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SPDR Barclays Capital Aggregate Bond ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
FANNIE MAE | FREDDIE MAC | FREDDIE MAC | FREDDIE MAC | U.S. TREASURY NOTES | ||||||
DESCRIPTION | 5.50%, 30 YR TBA | 5.00%, 30 YR TBA | 6.00%, 30 YR TBA | 4.50%, 30 YR TBA | 1.38%, 1/15/2013 | |||||
MARKET VALUE | $11,775,156 | 11,011,875 | 6,500,625 | 6,159,375 | 5,583,655 | |||||
% OF NET ASSETS | 5.3 | 5.0 | 2.9 | 2.8 | 2.5 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
U.S. Treasury Obligations | 33.5 | % | ||||
U.S. Government Agency MBS TBA | 31.9 | |||||
Corporate Bonds & Notes | 23.7 | |||||
U.S. Government Agency Obligations | 7.0 | |||||
Commercial Mortgage Backed Securities | 2.6 | |||||
Foreign Government Obligations | 1.8 | |||||
Municipal Bonds & Notes | 0.8 | |||||
Asset Backed | 0.4 | |||||
Short Term Investments | 50.9 | |||||
Other Assets & Liabilities | (52.6 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. |
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SPDR Nuveen Barclays Capital Municipal Bond ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (9/11/07, 9/13/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Nuveen Barclays Capital Municipal Bond ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.3000%.*
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
BARCLAYS CAPITAL | BARCLAYS CAPITAL | |||||||||||||||||||||||
NET ASSET | MARKET | MUNICIPAL MANAGED | NET ASSET | MARKET | MUNICIPAL MANAGED | |||||||||||||||||||
VALUE | VALUE | MONEY INDEX | VALUE | VALUE | MONEY INDEX | |||||||||||||||||||
SIX MONTHS ENDED | −1.55% | −3.16% | −1.36% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 1.39% | −0.36% | 1.64% | 1.39% | −0.36% | 1.64% | ||||||||||||||||||
THREE YEARS | 11.71% | 9.69% | 13.14% | 3.76% | 3.13% | 4.20% | ||||||||||||||||||
SINCE INCEPTION (1) | 13.04% | 11.35% | 14.49% | 3.78% | 3.30% | 4.18% | ||||||||||||||||||
(1) | For the period September 11, 2007 to December 31, 2010. | |
* | SSgA Funds Management, Inc. has contractually agreed to limit its management fee to the extent necessary to limit annual operating expenses to 0.2300% until October 31, 2011. Until October 31, 2010 the Adviser limited its management fee to the extent necessary to limit annual operating expenses to 0.2000%. |
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SPDR Nuveen Barclays Capital Municipal Bond ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370122.gif)
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SPDR Nuveen Barclays Capital Municipal Bond ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
MILWAUKEE, WI, | CALIFORNIA, STATE | COLUMBUS, OH, | ||||||||
NEW YORK, NY, | GENERAL OBLIGATION, | WASHINGTON, STATE | DEPARTMENT OF | GENERAL | ||||||
TRIBOROUGH BRIDGE & TUNNEL | PROMISSORY NOTES, | GENERAL OBLIGATION, | WATER RESOURCES | OBLIGATIONS, | ||||||
AUTHORITY REVENUE, SERIES A-2, | SERIES N1, | SERIES R, | REVENUE, SERIES L, | SERIES A, | ||||||
DESCRIPTION | 5.00%, 11/15/2029 | 5.00%, 2/1/2019 | 5.00%, 7/1/2016 | 5.00%, 5/1/2020 | 4.00%, 6/1/2014 | |||||
MARKET VALUE | $12,982,699 | 12,700,330 | 11,496,000 | 11,083,200 | 10,861,600 | |||||
% OF NET ASSETS | 1.5 | 1.5 | 1.3 | 1.3 | 1.3 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
Municipal Bonds & Notes | 99.4 | % | ||||
Short Term Investment | 0.3 | |||||
Other Assets & Liabilities | 0.3 | |||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. |
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SPDR Nuveen Barclays Capital California Municipal Bond ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (10/10/07, 10/15/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Nuveen Barclays Capital California Municipal Bond ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.2000%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
BARCLAYS CAPITAL | BARCLAYS CAPITAL | |||||||||||||||||||||||
MANAGED MONEY | MANAGED MONEY | |||||||||||||||||||||||
NET ASSET | MARKET | MUNICIPAL | NET ASSET | MARKET | MUNICIPAL | |||||||||||||||||||
VALUE | VALUE | CALIFORNIA INDEX | VALUE | VALUE | CALIFORNIA INDEX | |||||||||||||||||||
SIX MONTHS ENDED | −3.16% | −4.94% | −2.10% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 0.13% | −1.85% | 1.27% | 0.13% | −1.85% | 1.27% | ||||||||||||||||||
THREE YEARS | 8.52% | 5.85% | 9.89% | 2.76% | 1.91% | 3.19% | ||||||||||||||||||
SINCE INCEPTION (1) | 9.92% | 7.95% | 11.79% | 2.97% | 2.40% | 3.51% | ||||||||||||||||||
(1) | For the period October 10, 2007 to December 31, 2010. |
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SPDR Nuveen Barclays Capital California Municipal Bond ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370110.gif)
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SPDR Nuveen Barclays Capital California Municipal Bond ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
LOS ANGELES | LOS ANGELES | |||||||||
COUNTY, CA, | COUNTY, CA, | |||||||||
METROPOLITAN | METROPOLITAN | CALIFORNIA, STATE | ||||||||
LOS ANGELES, CA, | TRANSPORTATION | TRANSPORTATION | DEPARTMENT OF | UNIVERSITY OF | ||||||
UNIFIED SCHOOL DISTRICT, | AUTHORITY, SALES | AUTHORITY, SALES | WATER RESOURCES, | CALIFORNIA, REVENUE, | ||||||
SERIES KY | TAX REVENUE, | TAX REVENUE, | SERIES M | SERIES E | ||||||
DESCRIPTION | 5.00%, 7/1/2015 | 5.00%, 7/1/2026 | 5.00%, 6/1/2020 | 4.00%, 5/1/2019 | 4.00%, 5/15/2019 | |||||
MARKET VALUE | $2,597,583 | 2,566,075 | 2,093,040 | 2,070,120 | 2,066,079 | |||||
% OF NET ASSETS | 4.0 | 3.9 | 3.2 | 3.2 | 3.2 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
Municipal Bonds & Notes | 99.4 | % | ||||
Short Term Investment | 0.3 | |||||
Other Assets & Liabilities | 0.3 | |||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. |
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SPDR Nuveen Barclays Capital New York Municipal Bond ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (10/11/07, 10/15/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Nuveen Barclays Capital New York Municipal Bond ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.2000%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
BARCLAYS CAPITAL | BARCLAYS CAPITAL | |||||||||||||||||||||||
MANAGED MONEY | MANAGED MONEY | |||||||||||||||||||||||
NET ASSET | MARKET | MUNICIPAL NEW YORK | NET ASSET | MARKET | MUNICIPAL NEW YORK | |||||||||||||||||||
VALUE | VALUE | INDEX | VALUE | VALUE | INDEX | |||||||||||||||||||
SIX MONTHS ENDED | −2.02% | −3.42% | −1.51% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 1.18% | −0.45% | 1.88% | 1.18% | −0.45% | 1.88% | ||||||||||||||||||
THREE YEARS | 11.12% | 8.40% | 11.16% | 3.58% | 2.72% | 3.59% | ||||||||||||||||||
SINCE INCEPTION (1) | 12.39% | 10.89% | 13.06% | 3.69% | 3.26% | 3.88% | ||||||||||||||||||
(1) | For the period October 11, 2007 to December 31, 2010. |
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SPDR Nuveen Barclays Capital New York Municipal Bond ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370111.gif)
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SPDR Nuveen Barclays Capital New York Municipal Bond ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
NEW YORK, STATE | ||||||||||
DORMITORY AUTHORITY | ||||||||||
NEW YORK, NY, | NEW YORK, | NEW YORK, STATE | REVENUE, STATE | |||||||
OYSTER BAY, NY, | LIBERTY DEVELOPMENT | TRIBOROUGH BRIDGE & | LOCAL GOVERNMENT | SUPPORTED DEBT, | ||||||
GENERAL OBLIGATION, | CORP., | TUNNEL AUTHORITY, | ASSISTANCE CORP., | SERIES A, | ||||||
DESCRIPTION | 4.00%, 8/15/2026 | 5.13%, 1/15/2044 | 5.00%, 11/15/2017 | 5.00%, 4/1/2019 | 5.00%, 7/1/2038 | |||||
MARKET VALUE | $1,074,953 | 948,980 | 921,544 | 652,541 | 639,496 | |||||
% OF NET ASSETS | 4.1 | 3.7 | 3.5 | 2.5 | 2.5 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
Municipal Bonds & Notes | 97.2 | % | ||||
Short Term Investment | 2.4 | |||||
Other Assets & Liabilities | 0.4 | |||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. |
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SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (10/10/07, 10/15/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.2000%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
BARCLAYS CAPITAL | BARCLAYS CAPITAL | |||||||||||||||||||||||
MANAGED MONEY | MANAGED MONEY | |||||||||||||||||||||||
NET ASSET | MARKET | MUNICIPAL SHORT | NET ASSET | MARKET | MUNICIPAL SHORT | |||||||||||||||||||
VALUE | VALUE | TERM INDEX | VALUE | VALUE | TERM INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 0.27% | −0.10% | 0.41% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 1.40% | 0.93% | 1.67% | 1.40% | 0.93% | 1.67% | ||||||||||||||||||
THREE YEARS | 12.10% | 11.58% | 13.38% | 3.88% | 3.72% | 4.27% | ||||||||||||||||||
SINCE INCEPTION (1) | 13.91% | 13.53% | 16.00% | 4.12% | 4.01% | 4.70% | ||||||||||||||||||
(1) | For the period October 10, 2007 to December 31, 2010. |
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SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370112.gif)
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SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
NEW YORK, | ||||||||||
TRIBOROUGH BRIDGE & | ARKANSAS, STATE | MONTGOMERY COUNTY, | SOUTH CAROLINA, | |||||||
TUNNEL AUTHORITY | HIGHWAY GRANT | MD, GENERAL | CONNECTICUT, STATE | STATE GENERAL | ||||||
REVENUE, SERIES A-1 | ANTICIPATION & TAX, | OBLIGATION, SERIES A | GENERAL OBLIGATION, | OBLIGATION, SERIES A | ||||||
DESCRIPTION | 4.00%, 11/15/2038 | 4.00%, 8/1/2014 | 5.00%, 8/1/2015 | 5.00%, 12/1/2014 | 4.00%, 6/1/2015 | |||||
MARKET VALUE | $21,191,200 | 19,618,380 | 18,699,687 | 16,953,600 | 16,538,850 | |||||
% OF NET ASSETS | 1.6 | 1.5 | 1.4 | 1.3 | 1.3 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
Municipal Bonds & Notes | 99.4 | % | ||||
Short Term Investment | 0.3 | |||||
Other Assets & Liabilities | 0.3 | |||||
TOTAL | 100.0 | % | ||||
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SPDR Nuveen S&P VRDO Municipal Bond ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until a day after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (9/23/09, 9/24/09, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Nuveen S&P VRDO Municipal Bond ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.2000%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
S&P NATIONAL | S&P NATIONAL | |||||||||||||||||||||||
NET ASSET | MARKET | AMT-FREE MUNICIPAL | NET ASSET | MARKET | AMT-FREE MUNICIPAL | |||||||||||||||||||
VALUE | VALUE | VRDO INDEX | VALUE | VALUE | VRDO INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 0.39% | 0.49% | 0.18% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 0.54% | 0.34% | 0.32% | 0.54% | 0.34% | 0.32% | ||||||||||||||||||
SINCE INCEPTION (1) | 0.62% | 0.46% | 0.42% | 0.49% | 0.36% | 0.33% | ||||||||||||||||||
(1) For the period September 23, 2009 to December 31, 2010. |
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SPDR Nuveen S&P VRDO Municipal Bond ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370113.gif)
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SPDR Nuveen S&P VRDO Municipal Bond ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
COLORADO, FITZSIMONS | CHICAGO, IL, BOARD | CALIFORNIA, STATEWIDE | ||||||||
REDEVELOPMENT | OHIO HIGHER | OF EDUCATION, | ARIZONA, SPORTS & | COMMUNITIES | ||||||
AUTHORITY | EDUCATIONAL | GENERAL OBLIGATION | TOURISM AUTHORITY, | DEVELOPMENT | ||||||
REVENUE, | FACILITY COMMISSION, | SERIES B, | REVENUE, | AUTHORITY REVENUE, | ||||||
DESCRIPTION | 0.34%, 1/1/2025 | 1.00%, 9/1/2036 | 0.45%, 3/1/2032 | 3.50%, 7/1/2036 | 4.00%, 10/1/2036 | |||||
MARKET VALUE | $535,000 | 485,000 | 430,000 | 400,000 | 400,000 | |||||
% OF NET ASSETS | 5.9 | 5.4 | 4.8 | 4.4 | 4.4 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
Municipal Bonds & Notes | 99.7 | % | ||||
Short Term Investment | 0.3 | |||||
Other Assets & Liabilities | (0.0 | )** | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. | |
** | Amount represents less than 0.05% of net assets. |
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SPDR Nuveen Barclays Capital Build America Bond ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until a day after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (5/12/10, 5/13/10, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Nuveen Barclays Capital Build America Bond ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.3500%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
BARCLAYS CAPITAL | BARCLAYS CAPITAL | |||||||||||||||||||||||
NET ASSET | MARKET | BUILD AMERICA BOND | NET ASSET | MARKET | BUILD AMERICA BOND | |||||||||||||||||||
VALUE | VALUE | INDEX | VALUE | VALUE | INDEX | |||||||||||||||||||
SIX MONTHS ENDED | −2.95% | −3.11% | −1.92% | N/A | N/A | N/A | ||||||||||||||||||
SINCE INCEPTION (1) | −1.33% | −1.21% | −0.38% | −1.33% | −1.21% | −0.61% | ||||||||||||||||||
(1) | For the period May 12, 2010 to December 31, 2010. |
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SPDR Nuveen Barclays Capital Build America Bond ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370114.gif)
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SPDR Nuveen Barclays Capital Build America Bond ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
NEW JERSEY STATE | NEW JERSEY STATE | |||||||||
STATE OF | CALIFORNIA, STATE | TURNPIKE AUTHORITY | CALIFORNIA, STATE | TURNPIKE AUTHORITY | ||||||
CALIFORNIA, | GENERAL OBLIGATION, | REVENUE, | GENERAL OBLIGATION, | REVENUE, | ||||||
DESCRIPTION | 7.70%, 11/1/2030 | 7.55%, 4/1/2039 | 7.10%, 1/1/2041 | 7.30%, 10/1/2039 | 7.41%, 1/1/2040 | |||||
MARKET VALUE | $1,560,912 | 1,063,068 | 812,872 | 805,680 | 625,632 | |||||
% OF NET ASSETS | 4.7 | 3.2 | 2.4 | 2.4 | 1.9 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
Municipal Bonds & Notes | 98.6 | % | ||||
U.S. Treasury Obligations | 0.4 | |||||
Short Term Investment | 0.1 | |||||
Other Assets & Liabilities | 0.9 | |||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. |
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SPDR DB International Government Inflation-Protected Bond ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (3/13/08, 3/19/08, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR DB International Government Inflation-Protected Bond ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.5000%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
DB GLOBAL | DB GLOBAL | |||||||||||||||||||||||
GOVERNMENT EX-U.S. | GOVERNMENT EX-U.S. | |||||||||||||||||||||||
NET ASSET | MARKET | INFLATION-LINKED | NET ASSET | MARKET | INFLATION-LINKED | |||||||||||||||||||
VALUE | VALUE | BOND CAPPED INDEX | VALUE | VALUE | BOND CAPPED INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 13.11% | 13.56% | 13.37% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 6.82% | 6.39% | 7.35% | 6.82% | 6.39% | 7.35% | ||||||||||||||||||
SINCE INCEPTION (1) | 1.56% | 1.48% | 5.27% | 0.55% | 0.52% | 1.84% | ||||||||||||||||||
(1) | For the period March 13, 2008 to December 31, 2010. |
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SPDR DB International Government Inflation-Protected Bond ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370115.gif)
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SPDR DB International Government Inflation-Protected Bond ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
GOVERNMENT OF | ||||||||||
UNITED KINGDOM | JAPAN 10 | REPUBLIC OF | REPUBLIC OF | UNITED KINGDOM | ||||||
TREASURY BOND, | YEAR BOND, | FRANCE, | FRANCE, | TREASURY BOND, | ||||||
DESCRIPTION | 1.25%, 11/22/2027 | 1.10%, 12/10/2016 | 1.00%, 7/25/2017 | 1.60%, 7/25/2015 | 1.88%, 11/22/2022 | |||||
MARKET VALUE | $68,892,991 | 43,184,629 | 40,307,363 | 35,892,319 | 34,949,179 | |||||
% OF NET ASSETS | 7.7 | 4.8 | 4.5 | 4.0 | 3.9 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
Foreign Government Obligations | 99.3 | % | ||||
Short Term Investment | 0.0 | ** | ||||
Other Assets & Liabilities | 0.7 | |||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. | |
** | Amount shown represents less than 0.05% of net assets. |
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SPDR Barclays Capital Short Term International Treasury Bond ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (1/15/09, 1/27/09, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Barclays Capital Short Term International Treasury Bond ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.3500%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
BARCLAYS CAPITAL | BARCLAYS CAPITAL | |||||||||||||||||||||||
1-3 YEAR GLOBAL | 1-3 YEAR GLOBAL | |||||||||||||||||||||||
NET ASSET | MARKET | TREASURY EX-US | NET ASSET | MARKET | TREASURY EX-US | |||||||||||||||||||
VALUE | VALUE | CAPPED INDEX | VALUE | VALUE | CAPPED INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 9.78% | 10.58% | 10.18% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 2.38% | 1.92% | 3.00% | 2.38% | 1.92% | 3.00% | ||||||||||||||||||
SINCE INCEPTION (1) | 13.90% | 14.08% | 15.24% | 6.86% | 6.95% | 7.50% | ||||||||||||||||||
(1) | For the period January 15, 2009 to December 31, 2010. |
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SPDR Barclays Capital Short Term International Treasury Bond ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370116.gif)
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SPDR Barclays Capital Short Term International Treasury Bond ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
GOVERNMENT OF | REPUBLIC OF | KINGDOM OF | FEDERAL REPUBLIC OF | GOVERNMENT OF | ||||||
JAPAN 5 YEAR BOND, | ITALY, | THE NETHERLANDS, | GERMANY, | JAPAN 5 YEAR BOND, | ||||||
DESCRIPTION | 1.50%, 6/20/2012 | 4.25%, 10/15/2012 | 1.75%, 1/15/2013 | 5.00%, 7/4/2012 | 0.90%, 12/20/2012 | |||||
MARKET VALUE | $7,805,360 | 5,131,500 | 4,829,349 | 4,466,282 | 4,313,859 | |||||
% OF NET ASSETS | 4.7 | 3.1 | 2.9 | 2.7 | 2.6 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
Foreign Government Obligations | 90.4 | % | ||||
Short Term Investment | 0.7 | |||||
Other Assets & Liabilities | 8.9 | |||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. |
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SPDR Barclays Capital International Treasury Bond ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (10/2/07, 10/5/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Barclays Capital International Treasury Bond ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.5000%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
BARCLAYS CAPITAL | BARCLAYS CAPITAL | |||||||||||||||||||||||
NET ASSET | MARKET | GLOBAL TREASURY | NET ASSET | MARKET | GLOBAL TREASURY | |||||||||||||||||||
VALUE | VALUE | EX-US CAPPED INDEX | VALUE | VALUE | EX-US CAPPED INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 9.70% | 9.43% | 9.92% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 4.13% | 3.76% | 4.44% | 4.13% | 3.76% | 4.44% | ||||||||||||||||||
THREE YEARS | 15.84% | 15.17% | 18.49% | 5.02% | 4.82% | 5.82% | ||||||||||||||||||
SINCE INCEPTION (1) | 20.09% | 19.60% | 23.37% | 5.80% | 5.66% | 6.69% | ||||||||||||||||||
(1) | For the period October 2, 2007 to December 31, 2010. |
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SPDR Barclays Capital International Treasury Bond ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
![(PERFORMANCE GRAPH)](https://capedge.com/proxy/N-CSRS/0000950123-11-022522/b85275a1b8370117.gif)
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SPDR Barclays Capital International Treasury Bond ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
GOVERNMENT OF | GOVERNMENT OF | GOVERNMENT OF | UNITED KINGDOM | GOVERNMENT OF | ||||||
JAPAN 10 YEAR BOND, | JAPAN 10 YEAR BOND, | JAPAN 20 YEAR BOND, | TREASURY BOND, | JAPAN 20 YEAR BOND, | ||||||
DESCRIPTION | 1.50%, 9/20/2014 | 1.30%, 6/20/2012 | 2.90%, 9/20/2019 | 4.75%, 12/7/2038 | 2.30%, 6/20/2027 | |||||
MARKET VALUE | $65,416,226 | 47,694,814 | 32,456,913 | 30,481,533 | 29,681,368 | |||||
% OF NET ASSETS | 4.9 | 3.6 | 2.4 | 2.3 | 2.2 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
Foreign Government Obligations | 98.2 | % | ||||
Short Term Investment | 0.8 | |||||
Other Assets & Liabilities | 1.0 | |||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. |
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SPDR Barclays Capital International Corporate Bond ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until a day after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (5/19/10, 5/20/10, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Barclays Capital International Corporate Bond ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.5500%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
BARCLAYS CAPITAL | BARCLAYS CAPITAL | |||||||||||||||||||||||
GLOBAL AGGREGATE | GLOBAL AGGREGATE | |||||||||||||||||||||||
EX-USD > $1B: | EX-USD > $1B: | |||||||||||||||||||||||
NET ASSET | MARKET | CORPORATE BOND | NET ASSET | MARKET | CORPORATE BOND | |||||||||||||||||||
VALUE | VALUE | INDEX | VALUE | VALUE | INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 9.54% | 8.57% | 10.03% | N/A | N/A | N/A | ||||||||||||||||||
SINCE INCEPTION (1) | 9.43% | 8.71% | 9.96% | 9.43% | 8.71% | 16.56% | ||||||||||||||||||
(1) | For the period May 19, 2010 to December 31, 2010. |
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SPDR Barclays Capital International Corporate Bond ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
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SPDR Barclays Capital International Corporate Bond ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
RABOBANK | GE CAPITAL EUROPEAN | THE GOLDMAN SACHS | E.ON INTERNATIONAL | |||||||
NEDERLAND NV, | FUNDING, | GROUP, INC., | UBS AG/LONDON, | FINANCE BV, | ||||||
DESCRIPTION | 4.00%, 9/10/2015 | 4.75%, 7/30/2014 | 4.00%, 2/2/2015 | 4.88%, 1/21/2013 | 5.88%, 10/30/2037 | |||||
MARKET VALUE | $243,495 | 141,980 | 106,815 | 98,640 | 85,163 | |||||
% OF NET ASSETS | 3.8 | 2.2 | 1.7 | 1.5 | 1.3 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
Corporate Bonds & Notes | 97.6 | % | ||||
Short Term Investment | 0.0 | ** | ||||
Other Assets & Liabilities | 2.4 | |||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. | |
** | Amount represents less than 0.05% of net assets. |
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SPDR Barclays Capital High Yield Bond ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (11/28/07, 12/4/07, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Barclays Capital High Yield Bond ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.4000%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
BARCLAYS CAPITAL | BARCLAYS CAPITAL | |||||||||||||||||||||||
NET ASSET | MARKET | HIGH YIELD VERY | NET ASSET | MARKET | HIGH YIELD VERY | |||||||||||||||||||
VALUE | VALUE | LIQUID INDEX | VALUE | VALUE | LIQUID INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 11.06% | 12.26% | 11.21% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 13.99% | 14.06% | 15.09% | 13.99% | 14.06% | 15.09% | ||||||||||||||||||
THREE YEARS | 19.74% | 18.70% | 34.79% | 6.19% | 5.88% | 10.46% | ||||||||||||||||||
SINCE INCEPTION (1) | 20.14% | 21.03% | 36.08% | 6.11% | 6.36% | 10.47% | ||||||||||||||||||
(1) | For the period November 28, 2007 to December 31, 2010. |
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SPDR Barclays Capital High Yield Bond ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
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SPDR Barclays Capital High Yield Bond ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
CIT GROUP, | AMERICAN INTERNATIONAL | LYONDELL CHEMICAL | INTELSAT LUXEMBOURG | HARRAH’S OPERATING | ||||||
INC., | GROUP, INC., | CO., | SA, | CO., INC., | ||||||
DESCRIPTION | 7.00%, 5/1/2017 | 8.18%, 5/15/2058 | 11.00%, 5/1/2018 | 11.25%, 2/4/2017 | 10.00%, 12/15/2018 | |||||
MARKET VALUE | $234,138,887 | 135,356,390 | 120,131,070 | 100,198,250 | 97,817,262 | |||||
% OF NET ASSETS | 3.7 | 2.1 | 1.9 | 1.6 | 1.5 | |||||
ASSET ALLOCATION AS OF DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
Corporate Bonds & Notes | 97.8 | % | ||||
Short Term Investment | 1.5 | |||||
Other Assets & Liabilities | 0.7 | |||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. |
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SPDR Barclays Capital Short Term Corporate Bond ETF —
Performance Summary
Performance Summary
The following performance chart of the Fund’s total return at net asset value to the total return based on market price and its benchmark index is provided for comparative purposes only and represents the periods noted. The Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market return is based on the market price per share of the Fund. The market price used to calculate the market return is determined by using the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. Since shares of the Fund did not trade in the secondary market until a day after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares of the Fund (12/16/09, 12/17/09, respectively), the NAV of the Fund is used as a proxy for the secondary market trading price to calculate market returns. NAV and market returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV. Market returns do not include brokerage commission that may be payable on secondary market transactions. If brokerage commissions were included market returns would be lower.
An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities and therefore does not reflect deductions for fees or expenses. In comparison, the Fund’s performance is negatively impacted by these deductions.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Visit www.spdrs.com for most recent month-end performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption or sale of Fund shares. The total expense ratio for SPDR Barclays Capital Short Term Corporate Bond ETF as stated in the Fees and Expenses table of the prospectus dated October 31, 2010 is 0.1245%.
PERFORMANCE AS OF DECEMBER 31, 2010
CUMULATIVE TOTAL RETURN | AVERAGE ANNUAL TOTAL RETURN | |||||||||||||||||||||||
BARCLAYS CAPITAL U.S. | BARCLAYS CAPITAL U.S. | |||||||||||||||||||||||
NET ASSET | MARKET | 1-3 YEAR CORPORATE | NET ASSET | MARKET | 1-3 YEAR CORPORATE | |||||||||||||||||||
VALUE | VALUE | BOND INDEX | VALUE | VALUE | BOND INDEX | |||||||||||||||||||
SIX MONTHS ENDED | 2.04% | 2.07% | 2.21% | N/A | N/A | N/A | ||||||||||||||||||
ONE YEAR | 3.63% | 2.93% | 4.63% | 3.63% | 2.93% | 4.63% | ||||||||||||||||||
SINCE INCEPTION (1) | 2.84% | 3.04% | 4.38% | 2.72% | 2.92% | 4.21% | ||||||||||||||||||
(1) | For the period December 16, 2009 to December 31, 2010. |
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SPDR Barclays Capital Short Term Corporate Bond ETF —
Performance Summary (continued)
Performance Summary (continued)
COMPARISON OF CHANGE IN VALUE OF A $10,000 INVESTMENT (BASED ON NET ASSET VALUE)
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SPDR Barclays Capital Short Term Corporate Bond ETF —
Portfolio Summary
Portfolio Summary
TOP FIVE HOLDINGS AS OF DECEMBER 31, 2010
GENERAL ELECTRIC | GENERAL ELECTRIC | CREDIT SUISSE OF | COUNTRYWIDE | |||||||
CAPITAL CORP., | CAPITAL CORP., | MORGAN STANLEY, | NEW YORK, NY, | FINANCIAL CORP., | ||||||
DESCRIPTION | 6.00%, 6/15/2012 | 2.80%, 1/8/2013 | 6.60%, 4/1/2012 | 5.00%, 5/15/2013 | 5.80%, 6/7/2012 | |||||
MARKET VALUE | $3,610,616 | 2,349,648 | 2,185,575 | 2,152,924 | 2,122,038 | |||||
% OF NET ASSETS | 1.8 | 1.2 | 1.1 | 1.1 | 1.1 | |||||
ASSET ALLOCATION AT DECEMBER 31, 2010*
PERCENT OF | ||||||
NET ASSETS | ||||||
Corporate Bonds & Notes | 98.8 | % | ||||
Short Term Investment | 2.4 | |||||
Other Assets & Liabilities | (1.2 | ) | ||||
TOTAL | 100.0 | % | ||||
* | The Fund’s asset allocation is expressed as a percentage of net assets and may change over time. |
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SPDR Barclays Capital 1-3 Month T-Bill ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
U.S. TREASURY OBLIGATIONS — 100.0% | ||||||||
Treasury Bills* | ||||||||
0.11%, 3/17/2011 | $ | 101,353,000 | $ | 101,328,720 | ||||
0.11%, 3/24/2011 | 101,353,000 | 101,326,453 | ||||||
0.12%, 3/10/2011 | 148,534,000 | 148,501,737 | ||||||
0.12%, 3/3/2011 | 103,101,000 | 103,080,911 | ||||||
0.13%, 3/31/2011 | 101,353,000 | 101,321,683 | ||||||
0.15%, 2/10/2011 | 148,534,000 | 148,519,971 | ||||||
0.15%, 2/17/2011 | 103,101,000 | 103,086,865 | ||||||
0.15%, 2/3/2011 | 103,101,000 | 103,093,440 | ||||||
0.16%, 2/24/2011 | 103,101,000 | 103,083,215 | ||||||
TOTAL U.S. TREASURY OBLIGATIONS — | ||||||||
(Cost $1,013,316,003) | 1,013,342,995 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENT — 0.0% (a) | ||||||||
MONEY MARKET FUND — 0.0% (a) | ||||||||
State Street Institutional Liquid Reserves Fund 0.18% (b)(c)(d) (Cost $268,390) | 268,390 | 268,390 | ||||||
TOTAL INVESTMENTS — 100.0% (e) | ||||||||
(Cost $1,013,584,393) | 1,013,611,385 | |||||||
OTHER ASSETS & LIABILITIES — 0.0% (a) | (206,824 | ) | ||||||
NET ASSETS — 100.0% | $ | 1,013,404,561 | ||||||
* | Rate shown is the discount rate at time of purchase, not a coupon rate. | |||||
(a) | Amount shown represents less than 0.05% of net assets. | |||||
(b) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(c) | Value is determined based on Level 1 inputs. (Note 2) | |||||
(d) | The rate shown is the annualized seven-day yield at period end. | |||||
(e) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
See accompanying notes to financial statements.
64
Table of Contents
SPDR Barclays Capital TIPS ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
U.S. TREASURY OBLIGATIONS — 99.2% | ||||||||
Treasury Inflation Protected Indexed Notes | ||||||||
0.50%, 4/15/2015 | $ | 12,105,114 | $ | 12,386,921 | ||||
0.63%, 4/15/2013 | 8,617,065 | 8,884,969 | ||||||
1.25%, 4/15/2014 | 8,639,224 | 9,096,844 | ||||||
1.38%, 7/15/2018 | 8,546,663 | 9,008,696 | ||||||
1.38%, 1/15/2020 (a) | 10,693,109 | 11,122,545 | ||||||
1.63%, 1/15/2015 | 12,296,692 | 13,128,686 | ||||||
1.63%, 1/15/2018 | 9,678,368 | 10,360,402 | ||||||
1.88%, 7/15/2013 (a) | 13,461,655 | 14,370,317 | ||||||
1.88%, 7/15/2015 | 10,799,670 | 11,707,490 | ||||||
1.88%, 7/15/2019 | 8,786,274 | 9,559,202 | ||||||
2.00%, 4/15/2012 | 10,491,013 | 10,884,426 | ||||||
2.00%, 1/15/2014 | 14,041,284 | 15,090,028 | ||||||
2.00%, 7/15/2014 (a) | 12,450,535 | 13,469,861 | ||||||
2.00%, 1/15/2016 | 10,578,240 | 11,522,031 | ||||||
2.13%, 1/15/2019 | 8,494,439 | 9,407,591 | ||||||
2.38%, 1/15/2017 | 10,570,524 | 11,782,857 | ||||||
2.50%, 7/15/2016 | 12,022,800 | 13,499,320 | ||||||
2.63%, 7/15/2017 | 8,341,593 | 9,492,483 | ||||||
3.00%, 7/15/2012 | 15,818,762 | 16,812,338 | ||||||
3.38%, 1/15/2012 | 4,181,554 | 4,374,950 | ||||||
Treasury Inflation Protected Indexed Bonds | ||||||||
1.25%, 7/15/2020 | 18,340,758 | 18,796,342 | ||||||
1.75%, 1/15/2028 | 9,184,584 | 9,351,009 | ||||||
2.00%, 1/15/2026 | 12,288,389 | 13,044,862 | ||||||
2.13%, 2/15/2040 | 8,672,652 | 9,197,087 | ||||||
2.38%, 1/15/2025 | 18,351,516 | 20,433,312 | ||||||
2.38%, 1/15/2027 | 10,096,602 | 11,221,464 | ||||||
2.50%, 1/15/2029 | 8,143,008 | 9,235,963 | ||||||
3.38%, 4/15/2032 | 3,483,232 | 4,520,573 | ||||||
3.63%, 4/15/2028 | 12,822,723 | 16,559,393 | ||||||
3.88%, 4/15/2029 | 14,494,272 | 19,440,443 | ||||||
TOTAL U.S. TREASURY OBLIGATIONS — | ||||||||
(Cost $340,296,724) | 357,762,405 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENTS — 1.9% | ||||||||
MONEY MARKET FUNDS — 1.9% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (b)(c) | 5,752,726 | 5,752,726 | ||||||
State Street Institutional Liquid Reserves Fund 0.18% (b)(d) | 900,933 | 900,933 | ||||||
TOTAL SHORT TERM INVESTMENTS — (e) | ||||||||
(Cost $6,653,659) | 6,653,659 | |||||||
TOTAL INVESTMENTS — 101.1% (f) | ||||||||
(Cost $346,950,383) | 364,416,064 | |||||||
OTHER ASSETS & LIABILITIES — (1.1)% | (3,827,175 | ) | ||||||
NET ASSETS — 100.0% | $ | 360,588,889 | ||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | The rate shown is the annualized seven-day yield at period end. | |||||
(e) | Value is determined based on Level 1 inputs. (Note 2) | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
See accompanying notes to financial statements.
65
Table of Contents
SPDR Barclays Capital Intermediate Term Treasury ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
U.S. TREASURY OBLIGATIONS — 99.4% | ||||||||
Treasury Bonds | ||||||||
7.25%, 5/15/2016 (a) | $ | 924,000 | $ | 1,165,090 | ||||
7.50%, 11/15/2016 | 884,000 | 1,136,179 | ||||||
8.13%, 8/15/2019 | 445,000 | 619,849 | ||||||
8.50%, 2/15/2020 (a) | 460,000 | 658,301 | ||||||
8.75%, 5/15/2017 | 804,000 | 1,103,788 | ||||||
8.75%, 5/15/2020 | 472,000 | 687,190 | ||||||
8.75%, 8/15/2020 (a) | 525,000 | 767,230 | ||||||
8.88%, 8/15/2017 | 526,000 | 730,619 | ||||||
8.88%, 2/15/2019 (a) | 303,000 | 435,790 | ||||||
9.00%, 11/15/2018 | 91,000 | 131,211 | ||||||
9.13%, 5/15/2018 (a) | 329,000 | 471,197 | ||||||
9.25%, 2/15/2016 | 239,000 | 323,632 | ||||||
9.88%, 11/15/2015 | 283,000 | 388,214 | ||||||
10.63%, 8/15/2015 | 176,000 | 245,008 | ||||||
11.25%, 2/15/2015 | 534,000 | 739,996 | ||||||
Treasury Notes | ||||||||
0.38%, 8/31/2012 | 500,000 | 499,090 | ||||||
0.38%, 9/30/2012 | 1,963,000 | 1,958,250 | ||||||
0.38%, 10/31/2012 | 769,000 | 766,670 | ||||||
0.50%, 11/30/2012 (a) | 1,316,000 | 1,314,302 | ||||||
0.50%, 10/15/2013 (a) | 1,332,000 | 1,317,135 | ||||||
0.50%, 11/15/2013 (a) | 832,000 | 821,217 | ||||||
0.63%, 6/30/2012 (a) | 1,035,000 | 1,038,012 | ||||||
0.63%, 7/31/2012 (a) | 1,149,000 | 1,152,114 | ||||||
0.63%, 12/31/2012 | 1,200,000 | 1,200,612 | ||||||
0.75%, 5/31/2012 | 1,224,000 | 1,229,643 | ||||||
0.75%, 8/15/2013 (a) | 779,000 | 777,434 | ||||||
0.75%, 9/15/2013 (a) | 1,789,000 | 1,783,311 | ||||||
0.75%, 12/15/2013 | 600,000 | 595,698 | ||||||
0.88%, 1/31/2012 (a) | 1,959,000 | 1,969,559 | ||||||
0.88%, 2/29/2012 | 1,709,000 | 1,718,605 | ||||||
1.00%, 12/31/2011 | — | — | ||||||
1.00%, 3/31/2012 (a) | 2,209,000 | 2,225,921 | ||||||
1.00%, 4/30/2012 | 2,209,000 | 2,226,738 | ||||||
1.00%, 7/15/2013 (a) | 1,270,000 | 1,276,147 | ||||||
1.13%, 12/15/2011 | — | — | ||||||
1.13%, 1/15/2012 | 1,333,000 | 1,343,464 | ||||||
1.13%, 12/15/2012 | 1,744,000 | 1,761,928 | ||||||
1.13%, 6/15/2013 | 1,768,000 | 1,782,692 | ||||||
1.25%, 8/31/2015 (a) | 1,063,000 | 1,033,799 | ||||||
1.25%, 9/30/2015 (a) | 1,069,000 | 1,037,080 | ||||||
1.25%, 10/31/2015 | 769,000 | 744,169 | ||||||
1.38%, 2/15/2012 | 1,562,000 | 1,579,276 | ||||||
1.38%, 3/15/2012 | 1,146,000 | 1,160,336 | ||||||
1.38%, 4/15/2012 | 1,296,000 | 1,312,433 | ||||||
1.38%, 5/15/2012 | 1,777,000 | 1,800,172 | ||||||
1.38%, 9/15/2012 | 2,273,000 | 2,306,254 | ||||||
1.38%, 10/15/2012 | 1,344,000 | 1,363,811 | ||||||
1.38%, 11/15/2012 (a) | 2,235,000 | 2,268,324 | ||||||
1.38%, 1/15/2013 (a) | 1,940,000 | 1,969,508 | ||||||
1.38%, 2/15/2013 | 1,744,000 | 1,770,334 | ||||||
1.38%, 3/15/2013 | 1,248,000 | 1,266,221 | ||||||
1.38%, 5/15/2013 | 1,762,000 | 1,787,566 | ||||||
1.38%, 11/30/2015 (a) | 1,016,000 | 987,298 | ||||||
1.50%, 7/15/2012 (a) | 649,000 | 659,793 | ||||||
1.50%, 12/31/2013 (a) | 1,748,000 | 1,773,031 | ||||||
1.75%, 8/15/2012 | 1,966,000 | 2,006,480 | ||||||
1.75%, 4/15/2013 (a) | 1,552,000 | 1,587,851 | ||||||
1.75%, 1/31/2014 | 1,141,000 | 1,164,938 | ||||||
1.75%, 3/31/2014 | 1,565,000 | 1,595,439 | ||||||
1.75%, 7/31/2015 (a) | 1,255,000 | 1,250,858 | ||||||
1.88%, 6/15/2012 | 1,842,000 | 1,880,903 | ||||||
1.88%, 2/28/2014 | 1,318,000 | 1,349,737 | ||||||
1.88%, 4/30/2014 | 1,602,000 | 1,638,141 | ||||||
1.88%, 6/30/2015 | 754,000 | 757,001 | ||||||
1.88%, 8/31/2017 | 809,000 | 772,352 | ||||||
1.88%, 9/30/2017 | 809,000 | 770,556 | ||||||
1.88%, 10/31/2017 (a) | 809,000 | 769,213 | ||||||
2.00%, 11/30/2013 | 1,372,000 | 1,412,488 | ||||||
2.13%, 11/30/2014 (a) | 2,174,000 | 2,227,176 | ||||||
2.13%, 5/31/2015 (a) | 2,189,000 | 2,223,871 | ||||||
2.13%, 12/31/2015 | 800,000 | 804,200 | ||||||
2.25%, 5/31/2014 (a) | 1,256,000 | 1,299,257 | ||||||
2.25%, 1/31/2015 (a) | 1,338,000 | 1,373,537 | ||||||
2.25%, 11/30/2017 (a) | 848,000 | 824,688 | ||||||
2.38%, 8/31/2014 | 1,329,000 | 1,376,857 | ||||||
2.38%, 9/30/2014 (a) | 1,344,000 | 1,392,115 | ||||||
2.38%, 10/31/2014 (a) | 1,793,000 | 1,856,275 | ||||||
2.38%, 2/28/2015 (a) | 2,024,000 | 2,085,853 | ||||||
2.38%, 3/31/2016 (a) | 1,370,000 | 1,387,591 | ||||||
2.38%, 7/31/2017 (a) | 1,509,000 | 1,489,851 | ||||||
2.50%, 3/31/2013 | 835,000 | 869,277 | ||||||
2.50%, 3/31/2015 (a) | 1,424,000 | 1,474,011 | ||||||
2.50%, 4/30/2015 (a) | 1,924,000 | 1,989,089 | ||||||
2.50%, 6/30/2017 | 804,000 | 801,049 | ||||||
2.63%, 6/30/2014 | 1,603,000 | 1,677,299 | ||||||
2.63%, 7/31/2014 | 1,726,000 | 1,805,223 | ||||||
2.63%, 12/31/2014 | 1,738,000 | 1,812,300 | ||||||
2.63%, 2/29/2016 | 1,001,000 | 1,027,476 | ||||||
2.63%, 4/30/2016 | 884,000 | 905,075 | ||||||
2.63%, 8/15/2020 (a) | 1,764,000 | 1,672,113 | ||||||
2.63%, 11/15/2020 (a) | 1,272,000 | 1,199,750 | ||||||
2.75%, 2/28/2013 (a) | 995,000 | 1,040,074 | ||||||
2.75%, 10/31/2013 (a) | 1,479,000 | 1,554,917 | ||||||
2.75%, 11/30/2016 (a) | 1,802,000 | 1,839,590 | ||||||
2.75%, 5/31/2017 | 1,603,000 | 1,623,999 | ||||||
2.75%, 12/31/2017 | 700,000 | 701,666 | ||||||
2.75%, 2/15/2019 (a) | 2,183,000 | 2,154,839 | ||||||
2.88%, 1/31/2013 (a) | 854,000 | 894,548 | ||||||
3.00%, 8/31/2016 (a) | 1,282,000 | 1,331,075 | ||||||
3.00%, 9/30/2016 | 1,714,000 | 1,777,778 | ||||||
3.00%, 2/28/2017 (a) | 1,213,000 | 1,251,282 | ||||||
3.13%, 4/30/2013 (a) | 894,000 | 944,493 | ||||||
3.13%, 8/31/2013 (a) | 1,339,000 | 1,420,706 | ||||||
3.13%, 9/30/2013 | 962,000 | 1,020,547 | ||||||
3.13%, 10/31/2016 (a) | 803,000 | 837,698 | ||||||
3.13%, 1/31/2017 (a) | 2,098,000 | 2,180,368 | ||||||
3.13%, 4/30/2017 | 1,198,000 | 1,241,499 | ||||||
3.13%, 5/15/2019 (a) | 3,313,000 | 3,347,985 | ||||||
3.25%, 5/31/2016 (a) | 458,000 | 483,163 | ||||||
3.25%, 6/30/2016 | 962,000 | 1,014,246 | ||||||
3.25%, 7/31/2016 | 1,365,000 | 1,436,881 | ||||||
3.25%, 12/31/2016 (a) | 903,000 | 945,983 | ||||||
3.25%, 3/31/2017 (a) | 1,308,000 | 1,366,272 | ||||||
3.38%, 11/30/2012 | 730,000 | 769,420 | ||||||
3.38%, 6/30/2013 | 742,000 | 790,156 |
See accompanying notes to financial statements.
66
Table of Contents
SPDR Barclays Capital Intermediate Term Treasury ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
3.38%, 7/31/2013 (a) | $ | 1,257,000 | $ | 1,340,779 | ||||
3.38%, 11/15/2019 (a) | 4,359,000 | 4,449,057 | ||||||
3.50%, 5/31/2013 | 1,007,000 | 1,074,016 | ||||||
3.50%, 2/15/2018 | 1,895,000 | 1,993,748 | ||||||
3.50%, 5/15/2020 (a) | 3,614,000 | 3,701,640 | ||||||
3.63%, 12/31/2012 | 388,000 | 411,579 | ||||||
3.63%, 5/15/2013 | 1,115,000 | 1,192,303 | ||||||
3.63%, 8/15/2019 (a) | 2,836,000 | 2,962,599 | ||||||
3.63%, 2/15/2020 (a) | 2,859,000 | 2,967,099 | ||||||
3.75%, 11/15/2018 (a) | 2,254,000 | 2,397,512 | ||||||
3.88%, 10/31/2012 (a) | 795,000 | 843,447 | ||||||
3.88%, 2/15/2013 | 847,000 | 905,121 | ||||||
3.88%, 5/15/2018 (a) | 1,363,000 | 1,465,948 | ||||||
4.00%, 11/15/2012 | 500,000 | 532,360 | ||||||
4.00%, 2/15/2014 (a) | 880,000 | 959,050 | ||||||
4.00%, 2/15/2015 | 1,623,000 | 1,778,256 | ||||||
4.00%, 8/15/2018 (a) | 1,436,000 | 1,556,222 | ||||||
4.13%, 8/31/2012 (a) | 803,000 | 851,140 | ||||||
4.13%, 5/15/2015 | 1,911,000 | 2,104,967 | ||||||
4.25%, 9/30/2012 | 501,000 | 533,750 | ||||||
4.25%, 8/15/2013 | 2,022,000 | 2,201,614 | ||||||
4.25%, 11/15/2013 (a) | 1,245,000 | 1,362,690 | ||||||
4.25%, 8/15/2014 (a) | 1,399,000 | 1,543,489 | ||||||
4.25%, 11/15/2014 (a) | 708,000 | 782,765 | ||||||
4.25%, 8/15/2015 (a) | 1,307,000 | 1,447,398 | ||||||
4.25%, 11/15/2017 (a) | 1,090,000 | 1,201,714 | ||||||
4.38%, 8/15/2012 (a) | 416,000 | 442,449 | ||||||
4.50%, 3/31/2012 (a) | 322,000 | 338,641 | ||||||
4.50%, 4/30/2012 (a) | 820,000 | 865,444 | ||||||
4.50%, 11/15/2015 (a) | 487,000 | 545,313 | ||||||
4.50%, 2/15/2016 | 1,244,000 | 1,393,093 | ||||||
4.50%, 5/15/2017 (a) | 642,000 | 718,559 | ||||||
4.63%, 2/29/2012 | 776,000 | 813,807 | ||||||
4.63%, 7/31/2012 | 129,000 | 137,471 | ||||||
4.63%, 11/15/2016 | 1,280,000 | 1,442,419 | ||||||
4.63%, 2/15/2017 | 1,231,000 | 1,386,278 | ||||||
4.75%, 1/31/2012 (a) | 757,000 | 792,602 | ||||||
4.75%, 5/31/2012 | 829,000 | 879,627 | ||||||
4.75%, 5/15/2014 (a) | 742,000 | 829,037 | ||||||
4.75%, 8/15/2017 | 996,000 | 1,129,594 | ||||||
4.88%, 2/15/2012 (a) | 1,245,000 | 1,307,213 | ||||||
4.88%, 6/30/2012 | 790,000 | 842,227 | ||||||
4.88%, 8/15/2016 | 500,000 | 569,995 | ||||||
5.13%, 5/15/2016 | 1,132,000 | 1,304,381 | ||||||
TOTAL U.S. TREASURY OBLIGATIONS — | ||||||||
(Cost $199,936,237) | 203,978,729 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENTS — 20.6% | ||||||||
MONEY MARKET FUNDS — 20.6% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (b)(c) | 41,146,725 | 41,146,725 | ||||||
State Street Institutional Liquid Reserves Fund 0.18% (b)(d) | 1,153,575 | 1,153,575 | ||||||
TOTAL SHORT TERM INVESTMENTS — (e) | ||||||||
(Cost $42,300,300) | 42,300,300 | |||||||
TOTAL INVESTMENTS — 120.0% (f) | ||||||||
(Cost $242,236,537) | 246,279,029 | |||||||
OTHER ASSETS & LIABILITIES — (20.0)% | (40,988,280 | ) | ||||||
NET ASSETS — 100.0% | $ | 205,290,749 | ||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | The rate shown is the annualized seven-day yield at period end. | |||||
(e) | Value is determined based on Level 1 inputs. (Note 2) | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
See accompanying notes to financial statements.
67
Table of Contents
SPDR Barclays Capital Long Term Treasury ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
U.S. TREASURY OBLIGATIONS — 98.7% | ||||||||
Treasury Bonds | ||||||||
3.50%, 2/15/2039 | $ | 1,018,000 | $ | 877,465 | ||||
3.88%, 8/15/2040 (a) | 1,743,000 | 1,605,948 | ||||||
4.25%, 5/15/2039 (a) | 1,425,000 | 1,404,252 | ||||||
4.25%, 11/15/2040 (a) | 1,114,000 | 1,096,076 | ||||||
4.38%, 2/15/2038 | 626,000 | 632,642 | ||||||
4.38%, 11/15/2039 (a) | 1,795,000 | 1,805,357 | ||||||
4.38%, 5/15/2040 (a) | 1,780,000 | 1,789,042 | ||||||
4.50%, 2/15/2036 (a) | 835,000 | 864,434 | ||||||
4.50%, 5/15/2038 | 800,000 | 824,648 | ||||||
4.50%, 8/15/2039 (a) | 1,577,000 | 1,620,036 | ||||||
4.63%, 2/15/2040 (a) | 1,680,000 | 1,760,959 | ||||||
4.75%, 2/15/2037 (a) | 724,000 | 778,061 | ||||||
5.00%, 5/15/2037 | 609,000 | 679,321 | ||||||
5.25%, 11/15/2028 | 386,000 | 442,464 | ||||||
5.25%, 2/15/2029 | 400,000 | 458,632 | ||||||
5.38%, 2/15/2031 (a) | 581,000 | 678,585 | ||||||
5.50%, 8/15/2028 | 398,000 | 468,979 | ||||||
6.00%, 2/15/2026 (a) | 465,000 | 574,805 | ||||||
6.13%, 11/15/2027 | 666,000 | 836,603 | ||||||
6.13%, 8/15/2029 | 328,000 | 414,917 | ||||||
6.25%, 8/15/2023 | 749,000 | 941,171 | ||||||
6.25%, 5/15/2030 | 550,000 | 707,124 | ||||||
6.38%, 8/15/2027 | 223,000 | 286,983 | ||||||
6.50%, 11/15/2026 | 304,000 | 394,458 | ||||||
6.63%, 2/15/2027 | 251,000 | 330,080 | ||||||
6.75%, 8/15/2026 | 249,000 | 330,545 | ||||||
6.88%, 8/15/2025 (a) | 388,000 | 518,473 | ||||||
7.13%, 2/15/2023 | 400,000 | 537,220 | ||||||
7.25%, 8/15/2022 (a) | 194,000 | 262,300 | ||||||
7.50%, 11/15/2024 | 313,000 | 438,501 | ||||||
7.63%, 11/15/2022 (a) | 164,000 | 228,167 | ||||||
7.63%, 2/15/2025 | 337,000 | 477,873 | ||||||
7.88%, 2/15/2021 | 385,000 | 537,140 | ||||||
8.00%, 11/15/2021 | 884,000 | 1,250,586 | ||||||
8.13%, 5/15/2021 (a) | 251,000 | 356,382 | ||||||
8.13%, 8/15/2021 (a) | 264,000 | 375,928 | ||||||
TOTAL U.S. TREASURY OBLIGATIONS — | ||||||||
(Cost $28,442,406) | 27,586,157 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENTS — 18.7% | ||||||||
MONEY MARKET FUNDS — 18.7% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (b)(c) | 5,087,425 | 5,087,425 | ||||||
State Street Institutional Liquid Reserves Fund 0.18% (b)(d) | 124,099 | 124,099 | ||||||
TOTAL SHORT TERM INVESTMENTS — (e) | ||||||||
(Cost $5,211,524) | 5,211,524 | |||||||
TOTAL INVESTMENTS — 117.4% (f) | ||||||||
(Cost $33,653,930) | 32,797,681 | |||||||
OTHER ASSETS & LIABILITIES — (17.4)% | (4,857,781 | ) | ||||||
NET ASSETS — 100.0% | $ | 27,939,900 | ||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | The rate shown is the annualized seven-day yield at period end. | |||||
(e) | Value is determined based on Level 1 inputs. (Note 2) | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
See accompanying notes to financial statements.
68
Table of Contents
SPDR Barclays Capital Intermediate Term Corporate Bond ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
CORPORATE BONDS & NOTES — 97.3% | ||||||||
AEROSPACE & DEFENSE — 1.8% | ||||||||
Boeing Capital Corp. 6.50%, 2/15/2012 | $ | 510,000 | $ | 541,518 | ||||
General Dynamics Corp. 4.25%, 5/15/2013 | 350,000 | 374,915 | ||||||
Honeywell International, Inc. 5.00%, 2/15/2019 | 440,000 | 480,638 | ||||||
L-3 Communications Corp. 4.75%, 7/15/2020 | 250,000 | 248,028 | ||||||
Lockheed Martin Corp. 4.25%, 11/15/2019 | 145,000 | 147,096 | ||||||
Northrop Grumman Corp. 1.85%, 11/15/2015 | 250,000 | 238,874 | ||||||
Raytheon Co. 3.13%, 10/15/2020 | 300,000 | 275,599 | ||||||
United Technologies Corp. 5.38%, 12/15/2017 | 260,000 | 291,500 | ||||||
2,598,168 | ||||||||
AIR FREIGHT & LOGISTICS — 0.2% | ||||||||
United Parcel Service, Inc. 5.13%, 4/1/2019 | 250,000 | 277,860 | ||||||
AIRLINES — 0.1% | ||||||||
Delta Air Lines 2010-2 Pass Through Trust, Class A 4.95%, 5/23/2019 (a) | 150,000 | 150,375 | ||||||
AUTO COMPONENTS — 0.1% | ||||||||
Johnson Controls, Inc. 5.00%, 3/30/2020 | 150,000 | 159,062 | ||||||
AUTOMOBILES — 0.3% | ||||||||
Daimler Finance North America LLC 6.50%, 11/15/2013 | 440,000 | 497,664 | ||||||
BEVERAGES — 2.7% | ||||||||
Anheuser-Busch InBev Worldwide, Inc.: | ||||||||
2.50%, 3/26/2013 | 250,000 | 255,214 | ||||||
4.13%, 1/15/2015 | 195,000 | 205,075 | ||||||
5.38%, 1/15/2020 | 415,000 | 448,958 | ||||||
Coca-Cola Enterprises, Inc. 3.50%, 9/15/2020 | 150,000 | 140,282 | ||||||
Diageo Finance BV 3.25%, 1/15/2015 | 640,000 | 659,221 | ||||||
PepsiCo, Inc.: | ||||||||
0.88%, 10/25/2013 | 350,000 | 345,927 | ||||||
3.10%, 1/15/2015 (a) | 160,000 | 166,075 | ||||||
5.00%, 6/1/2018 | 785,000 | 858,422 | ||||||
The Coca-Cola Co.: | ||||||||
1.50%, 11/15/2015 | 500,000 | 478,884 | ||||||
3.15%, 11/15/2020 | 270,000 | 252,605 | ||||||
3,810,663 | ||||||||
BIOTECHNOLOGY — 0.3% | ||||||||
Amgen, Inc. 6.15%, 6/1/2018 | 350,000 | 407,534 | ||||||
BUILDING PRODUCTS — 0.2% | ||||||||
Owens Corning 9.00%, 6/15/2019 | 265,000 | 314,133 | ||||||
CAPITAL MARKETS — 7.5% | ||||||||
BlackRock, Inc. 5.00%, 12/10/2019 | 256,000 | 269,105 | ||||||
Morgan Stanley: | ||||||||
3.45%, 11/2/2015 | 1,500,000 | 1,463,088 | ||||||
4.75%, 4/1/2014 | 1,245,000 | 1,276,403 | ||||||
5.25%, 11/2/2012 | 500,000 | 532,887 | ||||||
5.63%, 9/23/2019 | 885,000 | 904,572 | ||||||
Northern Trust Corp. 3.45%, 11/4/2020 | 100,000 | 95,136 | ||||||
TD Ameritrade Holding Corp. 5.60%, 12/1/2019 | 145,000 | 150,622 | ||||||
The Bank of New York Mellon Corp. 3.10%, 1/15/2015 | 640,000 | 651,843 | ||||||
The Bear Stearns Cos. LLC: | ||||||||
6.95%, 8/10/2012 | 300,000 | 327,648 | ||||||
7.25%, 2/1/2018 | 1,045,000 | 1,238,214 | ||||||
The Goldman Sachs Group, Inc.: | ||||||||
3.70%, 8/1/2015 | 500,000 | 507,069 | ||||||
5.45%, 11/1/2012 | 500,000 | 535,108 | ||||||
5.70%, 9/1/2012 | 630,000 | 674,468 | ||||||
5.95%, 1/18/2018 | 1,650,000 | 1,792,677 | ||||||
6.00%, 5/1/2014 | 160,000 | 176,104 | ||||||
6.00%, 6/15/2020 | 150,000 | 161,729 | ||||||
10,756,673 | ||||||||
CHEMICALS — 2.0% | ||||||||
Air Products & Chemicals, Inc. 4.38%, 8/21/2019 | 100,000 | 100,146 | ||||||
Airgas, Inc. 2.85%, 10/1/2013 | 100,000 | 100,533 | ||||||
E.I. du Pont de Nemours & Co.: | ||||||||
4.63%, 1/15/2020 | 350,000 | 369,063 | ||||||
5.00%, 7/15/2013 | 250,000 | 271,410 | ||||||
Lubrizol Corp. 8.88%, 2/1/2019 | 150,000 | 185,950 | ||||||
Potash Corp. of Saskatchewan, Inc. 3.75%, 9/30/2015 | 360,000 | 370,821 | ||||||
Praxair, Inc. 2.13%, 6/14/2013 | 320,000 | 325,986 | ||||||
The Dow Chemical Co.: | ||||||||
4.25%, 11/15/2020 | 40,000 | 38,121 | ||||||
7.60%, 5/15/2014 | 355,000 | 406,813 | ||||||
8.55%, 5/15/2019 | 560,000 | 698,777 | ||||||
2,867,620 | ||||||||
COMMERCIAL BANKS — 8.7% | ||||||||
Bank of Nova Scotia 2.25%, 1/22/2013 | 555,000 | 566,276 | ||||||
Barclays Bank PLC: | ||||||||
5.13%, 1/8/2020 | 500,000 | 511,637 | ||||||
5.20%, 7/10/2014 | 605,000 | 651,008 | ||||||
BB&T Corp.: | ||||||||
3.85%, 7/27/2012 | 320,000 | 332,660 | ||||||
3.95%, 4/29/2016 | 125,000 | 129,778 | ||||||
BNP Paribas 3.25%, 3/11/2015 | 300,000 | 302,407 | ||||||
Credit Suisse AG 5.40%, 1/14/2020 | 160,000 | 162,236 |
See accompanying notes to financial statements.
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SPDR Barclays Capital Intermediate Term Corporate Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Credit Suisse of New York, NY: | ||||||||
5.00%, 5/15/2013 | $ | 350,000 | $ | 376,762 | ||||
5.30%, 8/13/2019 | 370,000 | 390,015 | ||||||
5.50%, 5/1/2014 | 800,000 | 873,748 | ||||||
6.00%, 2/15/2018 | 350,000 | 369,578 | ||||||
Deutsche Bank AG: | ||||||||
3.88%, 8/18/2014 | 320,000 | 334,108 | ||||||
6.00%, 9/1/2017 | 570,000 | 637,730 | ||||||
Fifth Third Bancorp 6.25%, 5/1/2013 | 250,000 | 271,425 | ||||||
HSBC Bank USA NA 6.00%, 8/9/2017 | 500,000 | 543,794 | ||||||
Huntington BancShares, Inc. 7.00%, 12/15/2020 | 25,000 | 26,366 | ||||||
KeyBank NA 4.95%, 9/15/2015 | 200,000 | 206,642 | ||||||
Mellon Capital IV 6.24%, 6/29/2049 (b) | 100,000 | 90,500 | ||||||
PNC Funding Corp.: | ||||||||
5.13%, 2/8/2020 | 360,000 | 373,806 | ||||||
5.63%, 2/1/2017 | 350,000 | 369,711 | ||||||
Royal Bank of Canada 1.13%, 1/15/2014 | 500,000 | 492,295 | ||||||
Union Bank NA 5.95%, 5/11/2016 | 255,000 | 275,395 | ||||||
US Bancorp 3.15%, 3/4/2015 | 640,000 | 649,662 | ||||||
Wachovia Corp.: | ||||||||
5.50%, 5/1/2013 | 1,269,000 | 1,378,919 | ||||||
5.63%, 10/15/2016 | 500,000 | 545,250 | ||||||
Wells Fargo & Co.: | ||||||||
3.63%, 4/15/2015 (a) | 780,000 | 805,365 | ||||||
5.63%, 12/11/2017 | 350,000 | 388,572 | ||||||
Westpac Banking Corp. 2.25%, 11/19/2012 | 400,000 | 407,050 | ||||||
12,462,695 | ||||||||
COMMERCIAL SERVICES & SUPPLIES — 0.7% | ||||||||
Pitney Bowes, Inc. 6.25%, 3/15/2019 | 135,000 | 143,396 | ||||||
R.R. Donnelley & Sons Co. 5.50%, 5/15/2015 | 250,000 | 258,750 | ||||||
Republic Services, Inc. 5.50%, 9/15/2019 | 305,000 | 331,697 | ||||||
Waste Management, Inc. 6.38%, 3/11/2015 | 200,000 | 227,133 | ||||||
960,976 | ||||||||
COMMUNICATIONS EQUIPMENT — 0.6% | ||||||||
Cisco Systems, Inc.: | ||||||||
4.95%, 2/15/2019 | 320,000 | 347,738 | ||||||
5.50%, 2/22/2016 | 300,000 | 341,082 | ||||||
Motorola, Inc. 5.38%, 11/15/2012 | 200,000 | 211,000 | ||||||
899,820 | ||||||||
COMPUTERS & PERIPHERALS — 1.7% | ||||||||
Dell, Inc.: | ||||||||
4.70%, 4/15/2013 | 185,000 | 198,064 | ||||||
5.88%, 6/15/2019 | 165,000 | 180,759 | ||||||
Hewlett-Packard Co.: | ||||||||
4.50%, 3/1/2013 | 132,000 | 141,002 | ||||||
4.75%, 6/2/2014 | 840,000 | 911,211 | ||||||
International Business Machines Corp.: | ||||||||
4.75%, 11/29/2012 | 350,000 | 375,132 | ||||||
5.70%, 9/14/2017 | 545,000 | 622,913 | ||||||
2,429,081 | ||||||||
CONSTRUCTION MATERIALS — 0.2% | ||||||||
Vulcan Materials Co. 6.30%, 6/15/2013 | 250,000 | 266,044 | ||||||
CONSUMER FINANCE — 0.5% | ||||||||
Discover Financial Services 10.25%, 7/15/2019 | 100,000 | 125,746 | ||||||
SLM Corp.: | ||||||||
5.00%, 10/1/2013 | 265,000 | 263,675 | ||||||
8.45%, 6/15/2018 | 355,000 | 367,425 | ||||||
756,846 | ||||||||
DIVERSIFIED FINANCIAL SERVICES — 17.4% | ||||||||
Allstate Life Global Funding Trusts 5.38%, 4/30/2013 | 475,000 | 516,111 | ||||||
American Express Co.: | ||||||||
7.25%, 5/20/2014 | 1,240,000 | 1,409,969 | ||||||
8.13%, 5/20/2019 | 305,000 | 382,623 | ||||||
Bank of America Corp.: | ||||||||
4.50%, 4/1/2015 | 755,000 | 772,127 | ||||||
4.90%, 5/1/2013 | 985,000 | 1,031,441 | ||||||
5.25%, 12/1/2015 | 1,000,000 | 1,027,650 | ||||||
5.38%, 9/11/2012 | 300,000 | 314,981 | ||||||
5.63%, 7/1/2020 | 500,000 | 509,994 | ||||||
6.25%, 4/15/2012 | 500,000 | 526,235 | ||||||
BP Capital Markets PLC: | ||||||||
3.88%, 3/10/2015 | 300,000 | 309,372 | ||||||
4.50%, 10/1/2020 | 300,000 | 299,422 | ||||||
5.25%, 11/7/2013 | 250,000 | 271,184 | ||||||
Capital One Bank USA NA 8.80%, 7/15/2019 | 395,000 | 485,778 | ||||||
Capital One Financial Corp. 7.38%, 5/23/2014 | 185,000 | 210,518 | ||||||
Citigroup, Inc.: | ||||||||
4.59%, 12/15/2015 | 350,000 | 363,708 | ||||||
4.75%, 5/19/2015 | 400,000 | 417,428 | ||||||
5.25%, 2/27/2012 | 1,000,000 | 1,043,378 | ||||||
5.50%, 4/11/2013 | 1,210,000 | 1,294,092 | ||||||
8.50%, 5/22/2019 | 815,000 | 1,005,092 | ||||||
Credit Suisse USA, Inc. 4.88%, 1/15/2015 | 5,000 | 5,381 | ||||||
General Electric Capital Corp.: | ||||||||
4.38%, 9/16/2020 | 700,000 | 684,849 | ||||||
4.80%, 5/1/2013 | 2,605,000 | 2,786,009 | ||||||
5.63%, 5/1/2018 | 770,000 | 838,395 | ||||||
HSBC Finance Corp. 5.00%, 6/30/2015 | 810,000 | 870,126 | ||||||
JPMorgan Chase & Co.: | ||||||||
2.60%, 1/15/2016 | 350,000 | 338,468 | ||||||
4.25%, 10/15/2020 | 500,000 | 490,017 | ||||||
4.65%, 6/1/2014 | 1,770,000 | 1,881,057 | ||||||
Lazard Group LLC 6.85%, 6/15/2017 | 145,000 | 150,305 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Merrill Lynch & Co., Inc. 6.88%, 4/25/2018 | $ | 1,417,000 | $ | 1,545,933 | ||||
National Rural Utilities Cooperative Finance Corp.: | ||||||||
5.45%, 2/1/2018 | 250,000 | 274,522 | ||||||
10.38%, 11/1/2018 | 185,000 | 254,527 | ||||||
Nomura Holdings, Inc.: | ||||||||
5.00%, 3/4/2015 | 170,000 | 176,375 | ||||||
6.70%, 3/4/2020 | 155,000 | 163,629 | ||||||
Royal Bank of Scotland Group PLC: | ||||||||
5.00%, 10/1/2014 | 130,000 | 124,780 | ||||||
5.63%, 8/24/2020 (a) | 500,000 | 489,814 | ||||||
The Nasdaq OMX Group, Inc. 5.25%, 1/16/2018 | 60,000 | 60,762 | ||||||
The Royal Bank of Scotland Group PLC 4.88%, 3/16/2015 | 250,000 | 254,366 | ||||||
The Western Union Co. 5.25%, 4/1/2020 | 135,000 | 139,986 | ||||||
UBS AG of Stamford, CT: | ||||||||
2.25%, 8/12/2013 | 500,000 | 505,371 | ||||||
4.88%, 8/4/2020 | 45,000 | 45,414 | ||||||
5.75%, 4/25/2018 | 555,000 | 603,068 | ||||||
24,874,257 | ||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 0.4% | ||||||||
British Telecommunications PLC 5.95%, 1/15/2018 | 300,000 | 325,917 | ||||||
Qwest Corp. 8.38%, 5/1/2016 | 205,000 | 242,765 | ||||||
568,682 | ||||||||
ELECTRIC UTILITIES — 5.0% | ||||||||
Carolina Power & Light Co. 5.25%, 12/15/2015 | 320,000 | 357,387 | ||||||
CenterPoint Energy Houston Electric LLC, Series M 5.75%, 1/15/2014 | 210,000 | 231,705 | ||||||
Commonwealth Edison Co.: | ||||||||
4.00%, 8/1/2020 | 60,000 | 59,042 | ||||||
5.80%, 3/15/2018 | 520,000 | 584,850 | ||||||
Consolidated Edison Co. of New York: | ||||||||
Series 2 4.88%, 2/1/2013 | 250,000 | 267,256 | ||||||
6.65%, 4/1/2019 | 155,000 | 184,163 | ||||||
Consumers Energy Co., Series M 5.50%, 8/15/2016 | 250,000 | 278,491 | ||||||
Duke Energy Carolinas LLC 6.25%, 1/15/2012 | 150,000 | 158,039 | ||||||
Duke Energy Corp. 3.95%, 9/15/2014 | 670,000 | 701,397 | ||||||
FirstEnergy Solutions Corp. 4.80%, 2/15/2015 | 155,000 | 162,581 | ||||||
FPL Group Capital, Inc. 6.00%, 3/1/2019 | 320,000 | 355,856 | ||||||
Georgia Power Co. 4.25%, 12/1/2019 | 360,000 | 367,936 | ||||||
Indiana Michigan Power Co., Series I 7.00%, 3/15/2019 | 165,000 | 193,597 | ||||||
LG&E and KU Energy LLC 3.75%, 11/15/2020 (c) | 300,000 | 283,268 | ||||||
Nevada Power Co. 6.50%, 8/1/2018 | 155,000 | 178,987 | ||||||
Nisource Finance Corp. 6.40%, 3/15/2018 | 450,000 | 499,051 | ||||||
Oncor Electric Delivery Co. LLC 6.38%, 1/15/2015 | 350,000 | 395,835 | ||||||
Pacific Gas & Electric Co. 3.50%, 10/1/2020 | 250,000 | 236,028 | ||||||
PG&E Corp. 5.75%, 4/1/2014 | 105,000 | 114,335 | ||||||
Progress Energy, Inc. 6.85%, 4/15/2012 | 125,000 | 133,920 | ||||||
PSEG Power LLC 5.13%, 4/15/2020 | 280,000 | 290,909 | ||||||
Public Service of Colorado 7.88%, 10/1/2012 | 265,000 | 295,046 | ||||||
The Cleveland Electric Illuminating Co. 5.65%, 12/15/2013 | 250,000 | 271,576 | ||||||
Union Electric Co. 6.70%, 2/1/2019 | 115,000 | 133,214 | ||||||
Virginia Electric and Power Co.: | ||||||||
5.10%, 11/30/2012 | 225,000 | 242,000 | ||||||
5.40%, 4/30/2018 | 155,000 | 172,787 | ||||||
7,149,256 | ||||||||
ELECTRICAL EQUIPMENT — 0.3% | ||||||||
Emerson Electric Co. 5.00%, 4/15/2019 | 400,000 | 435,203 | ||||||
ELECTRONICS EQUIPMENT INSTRUMENTS & COMPONENTS — 0.1% | ||||||||
Agilent Technologies, Inc. 5.00%, 7/15/2020 | 200,000 | 200,691 | ||||||
ENERGY EQUIPMENT & SERVICES — 0.1% | ||||||||
Nabors Industries, Inc. 9.25%, 1/15/2019 | 145,000 | 178,308 | ||||||
FOOD & STAPLES RETAILING — 2.4% | ||||||||
Costco Wholesale Corp. 5.50%, 3/15/2017 | 300,000 | 339,189 | ||||||
CVS Caremark Corp. 5.75%, 6/1/2017 | 465,000 | 517,478 | ||||||
Safeway, Inc. 5.00%, 8/15/2019 | 440,000 | 450,065 | ||||||
Target Corp. 6.00%, 1/15/2018 | 310,000 | 358,943 | ||||||
The Kroger Co.: | ||||||||
6.40%, 8/15/2017 | 250,000 | 285,780 | ||||||
6.75%, 4/15/2012 | 150,000 | 160,413 | ||||||
Wal-Mart Stores, Inc. 3.00%, 2/3/2014 | 1,045,000 | 1,086,442 | ||||||
Walgreen Co. 5.25%, 1/15/2019 | 250,000 | 277,025 | ||||||
3,475,335 | ||||||||
FOOD PRODUCTS — 1.6% | ||||||||
Campbell Soup Co. 3.05%, 7/15/2017 | 100,000 | 99,632 | ||||||
General Mills, Inc. 5.70%, 2/15/2017 | 500,000 | 561,476 |
See accompanying notes to financial statements.
71
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SPDR Barclays Capital Intermediate Term Corporate Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
H.J. Heinz Co. 6.00%, 3/15/2012 | $ | 100,000 | $ | 105,789 | ||||
Kellogg Co. 4.25%, 3/6/2013 | 300,000 | 317,316 | ||||||
Kraft Foods, Inc.: | ||||||||
4.13%, 2/9/2016 | 610,000 | 638,887 | ||||||
5.38%, 2/10/2020 | 410,000 | 440,547 | ||||||
Unilever Capital Corp. 3.65%, 2/15/2014 | 155,000 | 162,778 | ||||||
2,326,425 | ||||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 0.8% | ||||||||
Baxter International, Inc. 4.00%, 3/1/2014 | 510,000 | 542,526 | ||||||
C.R. Bard, Inc. 2.88%, 1/15/2016 | 75,000 | 75,387 | ||||||
Covidien International Finance SA 2.80%, 6/15/2015 | 350,000 | 352,718 | ||||||
Medtronic, Inc. 4.45%, 3/15/2020 | 185,000 | 192,016 | ||||||
1,162,647 | ||||||||
HEALTH CARE PROVIDERS & SERVICES — 1.4% | ||||||||
Express Scripts, Inc. 6.25%, 6/15/2014 | 395,000 | 439,801 | ||||||
Humana, Inc. 7.20%, 6/15/2018 | 510,000 | 577,276 | ||||||
McKesson Corp. 7.50%, 2/15/2019 | 135,000 | 163,787 | ||||||
UnitedHealth Group, Inc. 3.88%, 10/15/2020 (a) | 250,000 | 238,610 | ||||||
WellPoint, Inc.: | ||||||||
5.25%, 1/15/2016 | 200,000 | 220,071 | ||||||
5.88%, 6/15/2017 | 300,000 | 328,969 | ||||||
7.00%, 2/15/2019 | 45,000 | 52,902 | ||||||
2,021,416 | ||||||||
HOME BUILDERS — 0.1% | ||||||||
Toll Brothers Finance Corp. 8.91%, 10/15/2017 | 100,000 | 116,750 | ||||||
HOTELS, RESTAURANTS & LEISURE — 0.6% | ||||||||
Darden Restaurants, Inc. 6.20%, 10/15/2017 | 150,000 | 167,514 | ||||||
McDonald’s Corp.: | ||||||||
3.50%, 7/15/2020 | 55,000 | 53,458 | ||||||
4.30%, 3/1/2013 | 150,000 | 160,090 | ||||||
5.35%, 3/1/2018 | 140,000 | 157,381 | ||||||
Yum! Brands, Inc. 6.25%, 3/15/2018 | 300,000 | 340,190 | ||||||
878,633 | ||||||||
HOUSEHOLD DURABLES — 0.2% | ||||||||
Whirlpool Corp. 6.50%, 6/15/2016 | 250,000 | 278,364 | ||||||
HOUSEHOLD PRODUCTS — 0.5% | ||||||||
Clorox Co. 5.45%, 10/15/2012 | 145,000 | 155,472 | ||||||
Fortune Brands, Inc. 6.38%, 6/15/2014 | 265,000 | 285,881 | ||||||
Kimberly-Clark Corp. 7.50%, 11/1/2018 | 195,000 | 242,666 | ||||||
684,019 | ||||||||
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 0.2% | ||||||||
TransAlta Corp. 5.75%, 12/15/2013 | 200,000 | 218,423 | ||||||
INDUSTRIAL CONGLOMERATES — 1.0% | ||||||||
Cooper US, Inc.: | ||||||||
2.38%, 1/15/2016 | 100,000 | 98,643 | ||||||
3.88%, 12/15/2020 | 150,000 | 146,613 | ||||||
General Electric Co. 5.25%, 12/6/2017 | 760,000 | 821,578 | ||||||
Tyco Electronics Group SA 6.55%, 10/1/2017 | 210,000 | 236,052 | ||||||
Tyco International Finance SA: | ||||||||
3.38%, 10/15/2015 | 115,000 | 117,350 | ||||||
4.13%, 10/15/2014 | 70,000 | 74,049 | ||||||
1,494,285 | ||||||||
INSURANCE — 4.0% | ||||||||
ACE INA Holdings, Inc. 5.90%, 6/15/2019 | 155,000 | 172,959 | ||||||
Aflac, Inc. 8.50%, 5/15/2019 | 395,000 | 486,954 | ||||||
American International Group, Inc. 5.85%, 1/16/2018 | 800,000 | 811,304 | ||||||
AON Corp. 5.00%, 9/30/2020 | 225,000 | 225,770 | ||||||
Berkshire Hathaway Finance Corp.: | ||||||||
4.75%, 5/15/2012 | 320,000 | 336,990 | ||||||
5.40%, 5/15/2018 | 145,000 | 158,290 | ||||||
Chubb Corp. 6.38%, 3/29/2067 (b) | 195,000 | 202,800 | ||||||
Genworth Financial, Inc. 5.75%, 6/15/2014 | 45,000 | 46,038 | ||||||
Hartford Financial Services Group, Inc. 6.30%, 3/15/2018 | 130,000 | 137,659 | ||||||
Lincoln National Corp. 8.75%, 7/1/2019 | 300,000 | 377,040 | ||||||
Marsh & McLennan Cos., Inc. 5.75%, 9/15/2015 | 185,000 | 199,044 | ||||||
MetLife, Inc. 6.75%, 6/1/2016 | 515,000 | 593,830 | ||||||
Principal Life Income Funding Trusts 5.30%, 12/14/2012 | 300,000 | 322,463 | ||||||
Prudential Financial, Inc.: | ||||||||
3.88%, 1/14/2015 | 125,000 | 128,341 | ||||||
4.75%, 9/17/2015 | 320,000 | 338,444 | ||||||
7.38%, 6/15/2019 | 200,000 | 236,146 | ||||||
The Travelers Cos., Inc. 6.25%, 6/20/2016 | 320,000 | 367,504 | ||||||
Transatlantic Holdings, Inc. 5.75%, 12/14/2015 | 100,000 | 104,751 | ||||||
Willis North America, Inc. 7.00%, 9/29/2019 | 250,000 | 263,252 |
See accompanying notes to financial statements.
72
Table of Contents
SPDR Barclays Capital Intermediate Term Corporate Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
XL Group Plc 5.25%, 9/15/2014 | $ | 250,000 | $ | 259,653 | ||||
5,769,232 | ||||||||
IT SERVICES — 0.3% | ||||||||
Computer Sciences Corp. Series W 5.50%, 3/15/2013 | 210,000 | 223,910 | ||||||
Fiserv, Inc. 6.80%, 11/20/2017 | 150,000 | 167,835 | ||||||
391,745 | ||||||||
LIFE SCIENCES TOOLS & SERVICES — 0.2% | ||||||||
Thermo Fisher Scientific, Inc. 3.20%, 5/1/2015 | 250,000 | 254,416 | ||||||
MACHINERY — 1.7% | ||||||||
Caterpillar Financial Services Corp.: | ||||||||
6.20%, 9/30/2013 | 785,000 | 885,116 | ||||||
7.15%, 2/15/2019 | 250,000 | 307,574 | ||||||
Eaton Corp. 6.95%, 3/20/2019 | 150,000 | 180,681 | ||||||
Ingersoll-Rand Global Holding Co., Ltd. 9.50%, 4/15/2014 | 180,000 | 214,720 | ||||||
John Deere Capital Corp.: | ||||||||
2.80%, 9/18/2017 | 250,000 | 242,778 | ||||||
7.00%, 3/15/2012 | 510,000 | 547,857 | ||||||
2,378,726 | ||||||||
MEDIA — 4.3% | ||||||||
CBS Corp. 8.88%, 5/15/2019 | 145,000 | 180,742 | ||||||
Comcast Corp. 5.70%, 5/15/2018 | 1,015,000 | 1,117,112 | ||||||
Cox Communications, Inc. 4.63%, 6/1/2013 | 205,000 | 218,397 | ||||||
DIRECTV Holdings LLC: | ||||||||
3.55%, 3/15/2015 | 395,000 | 400,946 | ||||||
5.20%, 3/15/2020 | 200,000 | 207,331 | ||||||
7.63%, 5/15/2016 | 111,000 | 124,043 | ||||||
NBC Universal, Inc.: | ||||||||
2.10%, 4/1/2014 (c) | 150,000 | 149,311 | ||||||
5.15%, 4/30/2020 (c) | 150,000 | 155,571 | ||||||
News America, Inc. 6.90%, 3/1/2019 (a) | 510,000 | 611,989 | ||||||
Reed Elsevier Capital, Inc. 8.63%, 1/15/2019 | 300,000 | 380,283 | ||||||
The Walt Disney Co. 4.50%, 12/15/2013 | 380,000 | 414,022 | ||||||
Thomson Reuters Corp. 6.50%, 7/15/2018 | 255,000 | 296,966 | ||||||
Time Warner Cable, Inc.: | ||||||||
5.00%, 2/1/2020 | 250,000 | 256,341 | ||||||
5.88%, 11/15/2016 | 290,000 | 325,213 | ||||||
6.20%, 7/1/2013 | 785,000 | 869,129 | ||||||
Time Warner, Inc. 4.88%, 3/15/2020 | 250,000 | 259,779 | ||||||
Viacom, Inc. 6.25%, 4/30/2016 | 170,000 | 193,128 | ||||||
6,160,303 | ||||||||
METALS & MINING — 2.9% | ||||||||
Alcoa, Inc.: | ||||||||
5.38%, 1/15/2013 | 250,000 | 265,625 | ||||||
6.75%, 7/15/2018 | 205,000 | 221,400 | ||||||
ArcelorMittal: | ||||||||
5.38%, 6/1/2013 | 250,000 | 265,858 | ||||||
6.13%, 6/1/2018 | 300,000 | 317,187 | ||||||
Barrick Gold Corp. 6.95%, 4/1/2019 (a) | 250,000 | 305,823 | ||||||
BHP Billiton Finance USA, Ltd. 5.50%, 4/1/2014 | 715,000 | 791,103 | ||||||
Freeport-McMoRan Copper & Gold, Inc. 8.38%, 4/1/2017 | 205,000 | 226,013 | ||||||
Nucor Corp. 5.75%, 12/1/2017 | 250,000 | 281,765 | ||||||
Rio Tinto Finance USA, Ltd.: | ||||||||
3.50%, 11/2/2020 | 400,000 | 380,597 | ||||||
6.50%, 7/15/2018 | 300,000 | 350,436 | ||||||
Teck Resources, Ltd. 10.25%, 5/15/2016 | 300,000 | 370,500 | ||||||
Vale Overseas, Ltd. 5.63%, 9/15/2019 | 360,000 | 384,124 | ||||||
4,160,431 | ||||||||
MULTI-UTILITIES — 1.3% | ||||||||
Dominion Resources, Inc. 5.60%, 11/15/2016 | 300,000 | 338,015 | ||||||
MidAmerican Energy Co. 5.13%, 1/15/2013 | 500,000 | 537,338 | ||||||
MidAmerican Energy Holdings Co. 5.75%, 4/1/2018 | 490,000 | 549,896 | ||||||
Sempra Energy 6.50%, 6/1/2016 | 395,000 | 454,837 | ||||||
1,880,086 | ||||||||
MULTILINE RETAIL — 0.2% | ||||||||
Nordstrom, Inc. 6.75%, 6/1/2014 | 200,000 | 226,513 | ||||||
OFFICE ELECTRONICS — 0.3% | ||||||||
Xerox Corp. 4.25%, 2/15/2015 | 395,000 | 413,781 | ||||||
OIL, GAS & CONSUMABLE FUELS — 7.2% | ||||||||
Anadarko Petroleum Corp.: | ||||||||
5.95%, 9/15/2016 | 300,000 | 320,656 | ||||||
6.95%, 6/15/2019 | 155,000 | 169,987 | ||||||
Apache Corp. 6.25%, 4/15/2012 | 250,000 | 266,764 | ||||||
Canadian Natural Resources, Ltd. 5.70%, 5/15/2017 | 205,000 | 232,380 | ||||||
Cenovus Energy, Inc. 4.50%, 9/15/2014 | 250,000 | 267,729 | ||||||
Chevron Corp. 4.95%, 3/3/2019 | 255,000 | 283,872 | ||||||
ConocoPhillips: | ||||||||
4.60%, 1/15/2015 | 150,000 | 163,450 | ||||||
5.75%, 2/1/2019 | 310,000 | 352,790 | ||||||
ConocoPhillips Australia Funding Co. 5.50%, 4/15/2013 | 350,000 | 382,647 |
See accompanying notes to financial statements.
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SPDR Barclays Capital Intermediate Term Corporate Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Diamond Offshore Drilling, Inc. 5.88%, 5/1/2019 | $ | 145,000 | $ | 159,735 | ||||
EnCana Corp. 6.50%, 5/15/2019 | 310,000 | 366,503 | ||||||
Energy Transfer Partners LP 8.50%, 4/15/2014 | 320,000 | 369,659 | ||||||
Enterprise Products Operating LLC 6.30%, 9/15/2017 | 360,000 | 403,670 | ||||||
EOG Resources, Inc. 2.95%, 6/1/2015 | 350,000 | 352,684 | ||||||
Hess Corp. 8.13%, 2/15/2019 | 100,000 | 125,952 | ||||||
Husky Energy, Inc. 5.90%, 6/15/2014 | 100,000 | 109,505 | ||||||
Kinder Morgan Energy Partners LP 6.00%, 2/1/2017 | 505,000 | 553,223 | ||||||
Marathon Oil Corp.: | ||||||||
6.13%, 3/15/2012 | 200,000 | 211,503 | ||||||
7.50%, 2/15/2019 | 195,000 | 240,339 | ||||||
Nexen, Inc. 6.20%, 7/30/2019 | 155,000 | 167,126 | ||||||
Noble Holding International, Ltd. 4.90%, 8/1/2020 | 200,000 | 206,891 | ||||||
Occidental Petroleum Corp. 7.00%, 11/1/2013 | 250,000 | 288,774 | ||||||
ONEOK Partners LP 5.90%, 4/1/2012 | 150,000 | 158,236 | ||||||
PC Financial Partnership 5.00%, 11/15/2014 | 250,000 | 270,195 | ||||||
Plains All American Pipeline LP / PAA Finance Corp. 5.75%, 1/15/2020 | 250,000 | 265,291 | ||||||
Shell International Finance BV: | ||||||||
4.00%, 3/21/2014 | 430,000 | 457,612 | ||||||
4.30%, 9/22/2019 | 350,000 | 364,093 | ||||||
Statoil ASA 2.90%, 10/15/2014 | 295,000 | 304,047 | ||||||
Sunoco, Inc. 5.75%, 1/15/2017 | 145,000 | 148,302 | ||||||
Total Capital SA 3.00%, 6/24/2015 | 250,000 | 254,798 | ||||||
TransCanada PipeLines, Ltd. 3.80%, 10/1/2020 | 350,000 | 340,682 | ||||||
Transocean, Inc. 4.95%, 11/15/2015 | 350,000 | 361,222 | ||||||
Valero Energy Corp.: | ||||||||
6.13%, 2/1/2020 | 145,000 | 152,420 | ||||||
6.88%, 4/15/2012 | 150,000 | 158,858 | ||||||
Weatherford International, Ltd. 4.95%, 10/15/2013 | 195,000 | 206,450 | ||||||
Williams Partners LP 3.80%, 2/15/2015 | 265,000 | 273,530 | ||||||
XTO Energy, Inc. 5.75%, 12/15/2013 | 500,000 | 560,480 | ||||||
10,272,055 | ||||||||
PAPER & FOREST PRODUCTS — 0.3% | ||||||||
International Paper Co. 9.38%, 5/15/2019 | 280,000 | 357,325 | ||||||
PERSONAL PRODUCTS — 0.4% | ||||||||
The Procter & Gamble Co.: | ||||||||
1.38%, 8/1/2012 | 135,000 | 136,220 | ||||||
1.80%, 11/15/2015 | 500,000 | 485,963 | ||||||
622,183 | ||||||||
PHARMACEUTICALS — 3.6% | ||||||||
Abbott Laboratories 5.60%, 11/30/2017 | 780,000 | 888,838 | ||||||
AstraZeneca PLC 5.40%, 9/15/2012 | 845,000 | 910,414 | ||||||
Eli Lilly & Co. 5.20%, 3/15/2017 | 350,000 | 390,060 | ||||||
GlaxoSmithKline Capital, Inc. 4.85%, 5/15/2013 | 395,000 | 427,869 | ||||||
Medco Health Solutions, Inc. 7.13%, 3/15/2018 | 205,000 | 242,577 | ||||||
Merck & Co, Inc. 5.00%, 6/30/2019 | 310,000 | 343,351 | ||||||
Novartis Capital Corp. 4.13%, 2/10/2014 | 320,000 | 340,150 | ||||||
Novartis Securities Investment, Ltd. 5.13%, 2/10/2019 | 250,000 | 275,415 | ||||||
Pfizer, Inc. 6.20%, 3/15/2019 | 310,000 | 366,228 | ||||||
Wyeth: | ||||||||
5.45%, 4/1/2017 | 350,000 | 393,768 | ||||||
5.50%, 3/15/2013 | 550,000 | 600,722 | ||||||
5,179,392 | ||||||||
REAL ESTATE INVESTMENT TRUSTS — 1.9% | ||||||||
Boston Properties LP 5.63%, 11/15/2020 | 150,000 | 159,584 | ||||||
CommonWealth REIT 6.25%, 6/15/2017 | 100,000 | 103,730 | ||||||
Duke Realty LP 7.38%, 2/15/2015 | 300,000 | 336,123 | ||||||
ERP Operating LP 5.75%, 6/15/2017 | 110,000 | 121,162 | ||||||
HCP, Inc. 6.30%, 9/15/2016 | 150,000 | 160,221 | ||||||
Health Care REIT, Inc. 6.20%, 6/1/2016 | 100,000 | 108,517 | ||||||
Hospitality Properties Trust 7.88%, 8/15/2014 | 100,000 | 111,816 | ||||||
Liberty Property LP 5.50%, 12/15/2016 | 250,000 | 269,500 | ||||||
Nationwide Health Properties, Inc. 6.25%, 2/1/2013 | 270,000 | 289,017 | ||||||
ProLogis 6.25%, 3/15/2017 | 400,000 | 417,421 | ||||||
Simon Property Group LP: | ||||||||
5.10%, 6/15/2015 | 200,000 | 216,836 | ||||||
5.65%, 2/1/2020 | 350,000 | 379,621 | ||||||
2,673,548 | ||||||||
ROAD & RAIL — 0.8% | ||||||||
CSX Corp.: | ||||||||
6.30%, 3/15/2012 | 125,000 | 132,450 | ||||||
7.38%, 2/1/2019 | 205,000 | 247,589 |
See accompanying notes to financial statements.
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SPDR Barclays Capital Intermediate Term Corporate Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Union Pacific Corp. 5.13%, 2/15/2014 | $ | 715,000 | $ | 770,701 | ||||
1,150,740 | ||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 0.1% | ||||||||
National Semiconductor Corp. 3.95%, 4/15/2015 | 150,000 | 152,576 | ||||||
SOFTWARE — 1.1% | ||||||||
Adobe Systems, Inc. 3.25%, 2/1/2015 | 200,000 | 203,338 | ||||||
Intuit, Inc. 5.75%, 3/15/2017 | 150,000 | 162,000 | ||||||
Microsoft Corp. 4.20%, 6/1/2019 | 435,000 | 453,672 | ||||||
Oracle Corp.: | ||||||||
3.75%, 7/8/2014 | 505,000 | 533,758 | ||||||
5.00%, 7/8/2019 | 250,000 | 271,585 | ||||||
1,624,353 | ||||||||
SPECIALTY RETAIL — 0.6% | ||||||||
AutoZone, Inc. 5.75%, 1/15/2015 | 300,000 | 329,193 | ||||||
Lowe’s Cos, Inc. 4.63%, 4/15/2020 | 125,000 | 131,462 | ||||||
Staples, Inc. 9.75%, 1/15/2014 | 100,000 | 120,714 | ||||||
The Home Depot, Inc. 3.95%, 9/15/2020 | 250,000 | 244,972 | ||||||
826,341 | ||||||||
TOBACCO — 0.9% | ||||||||
Altria Group, Inc. 9.70%, 11/10/2018 | 440,000 | 577,889 | ||||||
Philip Morris International, Inc. 5.65%, 5/16/2018 | 500,000 | 565,718 | ||||||
Reynolds American, Inc. 7.63%, 6/1/2016 | 155,000 | 179,952 | ||||||
1,323,559 | ||||||||
WIRELESS TELECOMMUNICATION SERVICES — 5.5% | ||||||||
America Movil SAB de CV 5.50%, 3/1/2014 | 250,000 | 270,825 | ||||||
American Tower Corp. 5.05%, 9/1/2020 | 100,000 | 98,090 | ||||||
AT&T, Inc.: | ||||||||
4.95%, 1/15/2013 | 255,000 | 272,349 | ||||||
5.50%, 2/1/2018 | 798,000 | 881,328 | ||||||
BellSouth Corp. 5.20%, 9/15/2014 | 500,000 | 547,215 | ||||||
Cellco Partnership / Verizon Wireless Capital LLC: | ||||||||
5.25%, 2/1/2012 | 250,000 | 261,420 | ||||||
5.55%, 2/1/2014 | 265,000 | 290,372 | ||||||
8.50%, 11/15/2018 | 160,000 | 209,418 | ||||||
Deutsche Telekom International Finance BV 4.88%, 7/8/2014 | 265,000 | 284,097 | ||||||
Embarq Corp. 7.08%, 6/1/2016 | 265,000 | 293,343 | ||||||
France Telecom SA 4.38%, 7/8/2014 | 205,000 | 219,559 | ||||||
New Cingular Wireless Services, Inc. 8.13%, 5/1/2012 | 350,000 | 382,451 | ||||||
Rogers Communications, Inc. 6.80%, 8/15/2018 | 280,000 | 333,002 | ||||||
Telecom Italia Capital SA 6.18%, 6/18/2014 | 800,000 | 846,093 | ||||||
Telefonica Emisiones SAU: | ||||||||
4.95%, 1/15/2015 | 500,000 | 512,575 | ||||||
5.13%, 4/27/2020 | 255,000 | 246,371 | ||||||
Verizon Communications, Inc. 5.25%, 4/15/2013 | 1,305,000 | 1,411,695 | ||||||
Vodafone Group PLC 4.15%, 6/10/2014 | 455,000 | 476,324 | ||||||
7,836,527 | ||||||||
TOTAL CORPORATE BONDS & NOTES — | ||||||||
(Cost $136,642,716) | 139,331,740 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENTS — 4.1% | ||||||||
MONEY MARKET FUNDS — 4.1% | ||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 4,675,132 | 4,675,132 | ||||||
State Street Navigator Securities Lending Prime Portfolio (d)(f) | 1,136,808 | 1,136,808 | ||||||
TOTAL SHORT TERM INVESTMENTS — (g) | ||||||||
(Cost $5,811,940) | 5,811,940 | |||||||
TOTAL INVESTMENTS — 101.4% (h) | ||||||||
(Cost $142,454,656) | 145,143,680 | |||||||
OTHER ASSETS & LIABILITIES — (1.4)% | (2,007,202 | ) | ||||||
NET ASSETS — 100.0% | $ | 143,136,478 | ||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Variable Rate Security. Rate shown is rate in effect at December 31, 2010. Maturity date shown is the ultimate maturity. | |||||
(c) | Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.4% of net assets as of December 31, 2010, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Investments of cash collateral for securities loaned. | |||||
(g) | Value is determined based on Level 1 inputs. (Note 2) | |||||
(h) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
REIT = Real Estate Investment Trust
See accompanying notes to financial statements.
75
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SPDR Barclays Capital Long Term Corporate Bond ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
CORPORATE BONDS & NOTES — 97.6% | ||||||||
AEROSPACE & DEFENSE — 2.9% | ||||||||
Honeywell International, Inc. 5.70%, 3/15/2036 | $ | 100,000 | $ | 106,978 | ||||
Lockheed Martin Corp. 6.15%, 9/1/2036 | 160,000 | 175,379 | ||||||
Northrop Grumman Corp. 3.50%, 3/15/2021 | 100,000 | 92,868 | ||||||
The Boeing Co. 6.63%, 2/15/2038 | 165,000 | 191,779 | ||||||
United Technologies Corp. 6.13%, 7/15/2038 | 230,000 | 260,975 | ||||||
827,979 | ||||||||
AIR FREIGHT & LOGISTICS — 0.7% | ||||||||
United Parcel Service, Inc. 3.13%, 1/15/2021 | 200,000 | 185,253 | ||||||
AUTOMOBILES — 0.2% | ||||||||
Daimler Finance North America LLC 8.50%, 1/18/2031 | 50,000 | 66,239 | ||||||
BEVERAGES — 1.2% | ||||||||
Anheuser-Busch InBev Worldwide, Inc. 6.38%, 1/15/2040 | 115,000 | 130,981 | ||||||
PepsiCo, Inc. 5.50%, 1/15/2040 | 200,000 | 208,952 | ||||||
339,933 | ||||||||
BIOTECHNOLOGY — 0.6% | ||||||||
Amgen, Inc. 6.38%, 6/1/2037 (a) | 150,000 | 169,311 | ||||||
BUILDING PRODUCTS — 0.2% | ||||||||
Owens Corning 7.00%, 12/1/2036 | 41,000 | 41,740 | ||||||
CAPITAL MARKETS — 2.5% | ||||||||
Morgan Stanley 6.25%, 8/9/2026 | 165,000 | 170,835 | ||||||
The Goldman Sachs Group, Inc.: | ||||||||
6.13%, 2/15/2033 | 200,000 | 214,547 | ||||||
6.45%, 5/1/2036 | 150,000 | 149,067 | ||||||
6.75%, 10/1/2037 | 172,000 | 178,525 | ||||||
712,974 | ||||||||
CHEMICALS — 1.4% | ||||||||
Agrium, Inc. 6.13%, 1/15/2041 (a) | 25,000 | 26,333 | ||||||
E.I. du Pont de Nemours & Co. 3.63%, 1/15/2021 | 150,000 | 144,138 | ||||||
Potash Corp. of Saskatchewan, Inc. 5.63%, 12/1/2040 | 100,000 | 100,363 | ||||||
The Dow Chemical Co. 9.40%, 5/15/2039 (a) | 80,000 | 113,984 | ||||||
384,818 | ||||||||
COMMERCIAL BANKS — 4.0% | ||||||||
HSBC Bank USA NA 5.88%, 11/1/2034 | 100,000 | 98,423 | ||||||
HSBC Holdings PLC 6.50%, 9/15/2037 | 370,000 | 389,370 | ||||||
JPMorgan Chase & Co. 6.40%, 5/15/2038 | 35,000 | 39,974 | ||||||
NBD Bank NA/Michigan 8.25%, 11/1/2024 | 100,000 | 123,624 | ||||||
Wachovia Bank NA 6.60%, 1/15/2038 | 200,000 | 218,812 | ||||||
Wachovia Corp. 7.50%, 4/15/2035 | 150,000 | 174,304 | ||||||
Wells Fargo Capital X 5.95%, 12/15/2036 | 100,000 | 94,342 | ||||||
1,138,849 | ||||||||
COMMERCIAL SERVICES & SUPPLIES — 0.4% | ||||||||
Waste Management, Inc. 7.75%, 5/15/2032 | 100,000 | 120,919 | ||||||
COMMUNICATIONS EQUIPMENT — 0.9% | ||||||||
Cisco Systems, Inc. 5.90%, 2/15/2039 | 170,000 | 186,149 | ||||||
Motorola Solutions, Inc. 7.50%, 5/15/2025 | 50,000 | 54,112 | ||||||
240,261 | ||||||||
COMPUTERS & PERIPHERALS — 0.9% | ||||||||
Dell, Inc. 7.10%, 4/15/2028 | 50,000 | 55,010 | ||||||
International Business Machines Corp. 5.60%, 11/30/2039 | 187,000 | 202,557 | ||||||
257,567 | ||||||||
DIVERSIFIED FINANCIAL SERVICES — 8.7% | ||||||||
Bank of America Corp. 5.63%, 7/1/2020 (a) | 200,000 | 203,998 | ||||||
BankAmerica Capital II 8.00%, 12/15/2026 | 205,000 | 203,975 | ||||||
Capital One Financial Corp. 8.88%, 5/15/2040 (a) | 200,000 | 207,000 | ||||||
Citigroup, Inc.: | ||||||||
6.63%, 6/15/2032 | 200,000 | 201,719 | ||||||
6.88%, 3/5/2038 (a) | 330,000 | 359,077 | ||||||
General Electric Capital Corp.: | ||||||||
5.88%, 1/14/2038 | 410,000 | 422,727 | ||||||
6.75%, 3/15/2032 | 330,000 | 372,315 | ||||||
6.88%, 1/10/2039 | 30,000 | 34,906 | ||||||
JP Morgan Chase Capital XXV 6.80%, 10/1/2037 | 300,000 | 303,688 | ||||||
Merrill Lynch & Co., Inc.: | ||||||||
6.11%, 1/29/2037 | 165,000 | 149,328 | ||||||
7.75%, 5/14/2038 | 20,000 | 20,936 | ||||||
2,479,669 | ||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 0.7% | ||||||||
British Telecommunications PLC 9.88%, 12/15/2030 (b) | 145,000 | 192,335 | ||||||
ELECTRIC UTILITIES — 11.5% | ||||||||
Alabama Power Co. 6.13%, 5/15/2038 | 170,000 | 188,823 | ||||||
Ameren Energy Generating Co. Series F 7.95%, 6/1/2032 (a) | 75,000 | 72,026 | ||||||
Consolidated Edison Co. of New York 5.70%, 12/1/2036 | 230,000 | 236,319 | ||||||
Duke Energy Indiana, Inc. 6.45%, 4/1/2039 | 130,000 | 147,603 |
See accompanying notes to financial statements.
76
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SPDR Barclays Capital Long Term Corporate Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Entergy Louisiana LLC 5.40%, 11/1/2024 | $ | 100,000 | $ | 105,967 | ||||
Exelon Generation Co. LLC 6.25%, 10/1/2039 | 170,000 | 172,272 | ||||||
FirstEnergy Corp. 7.38%, 11/15/2031 | 100,000 | 104,640 | ||||||
Florida Power & Light Co. 5.69%, 3/1/2040 | 115,000 | 122,512 | ||||||
Florida Power Corp. 6.40%, 6/15/2038 | 80,000 | 92,020 | ||||||
Georgia Power Co. 4.75%, 9/1/2040 | 100,000 | 92,524 | ||||||
Kentucky Utilities Co. 5.13%, 11/1/2040 (c) | 75,000 | 73,598 | ||||||
Nevada Power Co. 5.38%, 9/15/2040 | 75,000 | 72,570 | ||||||
Oglethorpe Power Corp. 5.38%, 11/1/2040 | 65,000 | 62,892 | ||||||
Ohio Power Co. 6.60%, 2/15/2033 | 102,000 | 112,774 | ||||||
Oncor Electric Delivery Co. LLC 7.00%, 5/1/2032 | 150,000 | 171,864 | ||||||
Pacific Gas & Electric Co. 6.05%, 3/1/2034 | 215,000 | 233,345 | ||||||
PacifiCorp 6.00%, 1/15/2039 | 180,000 | 196,903 | ||||||
Progress Energy, Inc. 7.75%, 3/1/2031 | 40,000 | 50,088 | ||||||
Public Service Electric & Gas Co. 5.50%, 3/1/2040 | 200,000 | 205,906 | ||||||
Puget Sound Energy, Inc. 5.80%, 3/15/2040 | 55,000 | 55,347 | ||||||
San Diego Gas & Electric Co. Series D 6.00%, 6/1/2026 | 100,000 | 114,146 | ||||||
Southern California Edison Co. 6.00%, 1/15/2034 | 200,000 | 221,350 | ||||||
Southwestern Electric Power Co. 6.20%, 3/15/2040 (a) | 30,000 | 30,201 | ||||||
Southwestern Public Service Co. Series F 6.00%, 10/1/2036 | 100,000 | 99,996 | ||||||
Virginia Electric and Power Co. 6.00%, 5/15/2037 | 200,000 | 218,262 | ||||||
3,253,948 | ||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 0.3% | ||||||||
Corning, Inc. 7.25%, 8/15/2036 | 50,000 | 57,763 | ||||||
Tyco Electronics Group SA 4.88%, 1/15/2021 | 30,000 | 30,405 | ||||||
88,168 | ||||||||
ENVIRONMENTAL CONTROL — 0.2% | ||||||||
Browning-Ferris Industries, Inc. 7.40%, 9/15/2035 | 50,000 | 58,956 | ||||||
FOOD & STAPLES RETAILING — 4.2% | ||||||||
CVS Caremark Corp. 6.13%, 9/15/2039 | 170,000 | 180,897 | ||||||
Delhaize America LLC 9.00%, 4/15/2031 | 50,000 | 66,386 | ||||||
Safeway, Inc. 7.25%, 2/1/2031 | 50,000 | 55,675 | ||||||
Target Corp. 7.00%, 1/15/2038 | 165,000 | 204,240 | ||||||
The Kroger Co. 7.50%, 4/1/2031 | 65,000 | 78,502 | ||||||
Wal-Mart Stores, Inc.: | ||||||||
4.88%, 7/8/2040 | 100,000 | 95,420 | ||||||
5.25%, 9/1/2035 | 330,000 | 331,364 | ||||||
5.88%, 4/5/2027 | 150,000 | 167,515 | ||||||
1,179,999 | ||||||||
FOOD PRODUCTS — 1.7% | ||||||||
Kellogg Co., Series B 7.45%, 4/1/2031 | 45,000 | 56,597 | ||||||
Kraft Foods, Inc.: | ||||||||
6.50%, 2/9/2040 | 115,000 | 128,884 | ||||||
6.88%, 1/26/2039 | 45,000 | 52,222 | ||||||
7.00%, 8/11/2037 | 150,000 | 176,082 | ||||||
Unilever Capital Corp. 5.90%, 11/15/2032 | 60,000 | 66,453 | ||||||
480,238 | ||||||||
HEALTH CARE PRODUCTS — 1.0% | ||||||||
C.R. Bard, Inc. 4.40%, 1/15/2021 | 30,000 | 30,476 | ||||||
Covidien International Finance SA 6.55%, 10/15/2037 | 50,000 | 58,488 | ||||||
Johnson & Johnson 4.50%, 9/1/2040 | 150,000 | 141,115 | ||||||
Medtronic, Inc. 5.55%, 3/15/2040 | 50,000 | 52,614 | ||||||
282,693 | ||||||||
HEALTH CARE PROVIDERS & SERVICES — 1.6% | ||||||||
Aetna, Inc. 6.63%, 6/15/2036 | 100,000 | 110,910 | ||||||
Quest Diagnostics, Inc. 6.95%, 7/1/2037 | 75,000 | 82,279 | ||||||
UnitedHealth Group, Inc. 6.88%, 2/15/2038 | 115,000 | 133,014 | ||||||
WellPoint, Inc. 6.38%, 6/15/2037 | 130,000 | 140,982 | ||||||
467,185 | ||||||||
HOTELS, RESTAURANTS & LEISURE — 0.5% | ||||||||
McDonald’s Corp. 6.30%, 3/1/2038 | 125,000 | 147,959 | ||||||
HOUSEHOLD PRODUCTS — 0.8% | ||||||||
The Procter & Gamble Co. 5.55%, 3/5/2037 | 200,000 | 215,962 | ||||||
INSURANCE — 4.6% | ||||||||
AON Corp. 8.21%, 1/1/2027 | 55,000 | 58,847 | ||||||
AXA SA 8.60%, 12/15/2030 (a) | 115,000 | 129,274 | ||||||
Berkshire Hathaway Finance Corp. 5.75%, 1/15/2040 | 100,000 | 103,610 | ||||||
Chubb Corp. 6.50%, 5/15/2038 | 70,000 | 79,845 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Hartford Financial Services Group, Inc. 6.63%, 3/30/2040 | $ | 100,000 | $ | 100,965 | ||||
Lincoln National Corp. 6.30%, 10/9/2037 | 100,000 | 99,995 | ||||||
MetLife, Inc. 6.40%, 12/15/2036 | 290,000 | 271,150 | ||||||
Prudential Financial, Inc. 6.63%, 12/1/2037 | 95,000 | 105,336 | ||||||
Swiss Re Solutions Holding Corp. 7.00%, 2/15/2026 | 85,000 | 88,218 | ||||||
The Allstate Corp. 5.95%, 4/1/2036 (a) | 130,000 | 137,014 | ||||||
The Progressive Corp. 6.25%, 12/1/2032 | 50,000 | 54,074 | ||||||
The Travelers Cos., Inc. 6.25%, 6/15/2037 | 80,000 | 88,316 | ||||||
1,316,644 | ||||||||
MACHINERY — 0.8% | ||||||||
Caterpillar, Inc. 7.30%, 5/1/2031 | 100,000 | 125,432 | ||||||
Parker Hannifin Corp. 3.50%, 9/15/2022 | 100,000 | 93,540 | ||||||
218,972 | ||||||||
MEDIA — 8.1% | ||||||||
CBS Corp. 7.88%, 7/30/2030 | 75,000 | 86,788 | ||||||
Comcast Corp.: | ||||||||
6.50%, 11/15/2035 | 200,000 | 214,183 | ||||||
6.95%, 8/15/2037 | 260,000 | 294,519 | ||||||
DIRECTV Holdings LLC / DIRECTV Financing Co., Inc.: | ||||||||
4.60%, 2/15/2021 | 100,000 | 98,376 | ||||||
6.00%, 8/15/2040 | 50,000 | 49,318 | ||||||
Discovery Communications LLC 6.35%, 6/1/2040 | 50,000 | 53,491 | ||||||
Grupo Televisa SA 6.63%, 3/18/2025 | 50,000 | 56,085 | ||||||
NBC Universal, Inc.: | ||||||||
4.38%, 4/1/2021 (c) | 100,000 | 96,948 | ||||||
6.40%, 4/30/2040 (c) | 50,000 | 52,601 | ||||||
News America Holdings, Inc. 8.15%, 10/17/2036 | 200,000 | 248,356 | ||||||
News America, Inc. 6.65%, 11/15/2037 | 40,000 | 44,018 | ||||||
Time Warner Cable, Inc.: | ||||||||
4.13%, 2/15/2021 | 200,000 | 189,990 | ||||||
7.30%, 7/1/2038 | 180,000 | 209,984 | ||||||
Time Warner, Inc.: | ||||||||
4.70%, 1/15/2021 | 100,000 | 101,973 | ||||||
7.63%, 4/15/2031 | 190,000 | 229,743 | ||||||
7.70%, 5/1/2032 | 150,000 | 182,518 | ||||||
Viacom, Inc. 6.88%, 4/30/2036 | 80,000 | 91,341 | ||||||
2,300,232 | ||||||||
METALS & MINING — 3.2% | ||||||||
Alcoa, Inc. 5.87%, 2/23/2022 | 100,000 | 98,000 | ||||||
Newmont Mining Corp. 6.25%, 10/1/2039 | 40,000 | 43,693 | ||||||
Rio Tinto Alcan, Inc. 6.13%, 12/15/2033 | 165,000 | 176,122 | ||||||
Southern Copper Corp. 6.75%, 4/16/2040 (a) | 200,000 | 209,474 | ||||||
Teck Resources, Ltd. 4.50%, 1/15/2021 | 100,000 | 101,830 | ||||||
Vale Overseas, Ltd. 6.88%, 11/21/2036 (a) | 270,000 | 293,339 | ||||||
922,458 | ||||||||
MULTI-UTILITIES — 0.9% | ||||||||
MidAmerican Energy Holdings Co.: | ||||||||
6.13%, 4/1/2036 | 80,000 | 86,205 | ||||||
6.50%, 9/15/2037 | 80,000 | 90,518 | ||||||
Sempra Energy 6.00%, 10/15/2039 | 75,000 | 78,710 | ||||||
255,433 | ||||||||
OIL, GAS & CONSUMABLE FUELS — 13.7% | ||||||||
Anadarko Finance Co. 7.50%, 5/1/2031 | 150,000 | 162,334 | ||||||
Apache Corp. 6.00%, 1/15/2037 | 125,000 | 136,353 | ||||||
Baker Hughes, Inc. 5.13%, 9/15/2040 | 100,000 | 97,101 | ||||||
Canadian Natural Resources, Ltd.: | ||||||||
6.25%, 3/15/2038 | 80,000 | 88,778 | ||||||
7.20%, 1/15/2032 | 100,000 | 118,666 | ||||||
Cenovus Energy, Inc. 6.75%, 11/15/2039 | 100,000 | 115,889 | ||||||
Conoco Funding Co. 7.25%, 10/15/2031 | 165,000 | 200,499 | ||||||
Conoco, Inc. 6.95%, 4/15/2029 | 165,000 | 202,138 | ||||||
Devon Financing Corp. ULC 7.88%, 9/30/2031 (a) | 65,000 | 83,959 | ||||||
EnCana Corp. 6.50%, 2/1/2038 | 150,000 | 163,822 | ||||||
Enterprise Products Operating LLC 7.55%, 4/15/2038 | 115,000 | 137,025 | ||||||
Halliburton Co. 6.70%, 9/15/2038 | 50,000 | 58,086 | ||||||
Hess Corp. 7.30%, 8/15/2031 | 115,000 | 135,591 | ||||||
Kinder Morgan Energy Partners LP 7.40%, 3/15/2031 | 200,000 | 223,704 | ||||||
Marathon Oil Corp. 6.60%, 10/1/2037 | 50,000 | 56,889 | ||||||
Nexen, Inc. 7.50%, 7/30/2039 | 165,000 | 180,359 | ||||||
Petro-Canada 6.80%, 5/15/2038 | 170,000 | 193,692 | ||||||
Shell International Finance BV 6.38%, 12/15/2038 | 190,000 | 223,981 | ||||||
Southern Natural Gas Co. 8.00%, 3/1/2032 | 165,000 | 186,029 | ||||||
Statoil ASA 5.10%, 8/17/2040 | 150,000 | 150,231 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Talisman Energy, Inc. 3.75%, 2/1/2021 | $ | 125,000 | $ | 117,023 | ||||
Total Capital SA 4.25%, 12/15/2021 | 75,000 | 75,628 | ||||||
TransCanada Pipelines, Ltd.: | ||||||||
6.20%, 10/15/2037 | 70,000 | 75,995 | ||||||
7.63%, 1/15/2039 | 165,000 | 209,760 | ||||||
Transocean, Inc. 7.50%, 4/15/2031 | 70,000 | 74,942 | ||||||
Valero Energy Corp. 7.50%, 4/15/2032 | 125,000 | 134,022 | ||||||
Weatherford International, Ltd. 6.50%, 8/1/2036 | 50,000 | 50,311 | ||||||
Williams Cos., Inc. 8.75%, 3/15/2032 | 100,000 | 122,369 | ||||||
Williams Partners LP 6.30%, 4/15/2040 | 100,000 | 104,111 | ||||||
3,879,287 | ||||||||
PAPER & FOREST PRODUCTS — 0.2% | ||||||||
International Paper Co. 7.50%, 8/15/2021 | 55,000 | 63,978 | ||||||
PHARMACEUTICALS — 4.4% | ||||||||
Abbott Laboratories 6.00%, 4/1/2039 | 150,000 | 167,904 | ||||||
AstraZeneca PLC 6.45%, 9/15/2037 | 150,000 | 177,879 | ||||||
Bristol-Myers Squibb Co. 5.88%, 11/15/2036 (a) | 74,000 | 82,190 | ||||||
Eli Lilly & Co. 5.50%, 3/15/2027 | 65,000 | 69,703 | ||||||
GlaxoSmithKline Capital, Inc. 6.38%, 5/15/2038 | 180,000 | 212,173 | ||||||
Merck & Co, Inc.: | ||||||||
3.88%, 1/15/2021 (a) | 150,000 | 149,511 | ||||||
6.50%, 12/1/2033 | 50,000 | 59,171 | ||||||
Pfizer, Inc. 7.20%, 3/15/2039 | 260,000 | 336,956 | ||||||
1,255,487 | ||||||||
REAL ESTATE INVESTMENT TRUSTS — 0.4% | ||||||||
Boston Properties LP 5.63%, 11/15/2020 | 50,000 | 53,195 | ||||||
Simon Property Group LP 6.75%, 2/1/2040 | 65,000 | 72,639 | ||||||
125,834 | ||||||||
ROAD & RAIL — 1.8% | ||||||||
Burlington Northern Santa Fe LLC 5.75%, 5/1/2040 | 150,000 | 153,221 | ||||||
Canadian National Railway Co. 6.90%, 7/15/2028 | 95,000 | 113,684 | ||||||
CSX Corp. 6.22%, 4/30/2040 | 45,000 | 48,315 | ||||||
Norfolk Southern Corp. 7.25%, 2/15/2031 | 130,000 | 153,939 | ||||||
Union Pacific Corp. 4.00%, 2/1/2021 | 50,000 | 49,047 | ||||||
518,206 | ||||||||
SOFTWARE — 1.1% | ||||||||
Microsoft Corp. 4.50%, 10/1/2040 | 100,000 | 93,032 | ||||||
Oracle Corp. 6.13%, 7/8/2039 | 205,000 | 228,122 | ||||||
321,154 | ||||||||
SPECIALTY RETAIL — 0.8% | ||||||||
Lowe’s Cos., Inc.: | ||||||||
5.80%, 10/15/2036 | 50,000 | 52,408 | ||||||
6.65%, 9/15/2037 | 50,000 | 58,389 | ||||||
The Home Depot, Inc. 5.88%, 12/16/2036 | 115,000 | 119,628 | ||||||
230,425 | ||||||||
TOBACCO — 0.8% | ||||||||
Altria Group, Inc. 9.95%, 11/10/2038 | 165,000 | 230,902 | ||||||
WIRELESS TELECOMMUNICATION SERVICES — 9.7% | ||||||||
America Movil SAB de CV 6.13%, 3/30/2040 | 200,000 | 213,298 | ||||||
AT&T Corp. 8.00%, 11/15/2031 | 219,000 | 276,876 | ||||||
AT&T, Inc.: | ||||||||
5.35%, 9/1/2040 (c) | 445,000 | 419,798 | ||||||
6.30%, 1/15/2038 | 165,000 | 173,871 | ||||||
6.55%, 2/15/2039 | 125,000 | 136,086 | ||||||
Deutsche Telekom International Finance BV 8.75%, 6/15/2030 (b) | 180,000 | 240,174 | ||||||
Embarq Corp. 8.00%, 6/1/2036 | 100,000 | 108,591 | ||||||
France Telecom SA 8.50%, 3/1/2031 | 100,000 | 135,526 | ||||||
Telecom Italia Capital SA 7.72%, 6/4/2038 (a) | 150,000 | 147,828 | ||||||
Telefonica Europe BV 8.25%, 9/15/2030 | 95,000 | 108,694 | ||||||
Verizon Communications, Inc.: | ||||||||
7.75%, 12/1/2030 | 220,000 | 273,290 | ||||||
8.95%, 3/1/2039 | 250,000 | 354,101 | ||||||
Vodafone Group PLC 6.15%, 2/27/2037 | 165,000 | 176,199 | ||||||
2,764,332 | ||||||||
TOTAL CORPORATE BONDS & NOTES — | ||||||||
(Cost $26,730,371) | 27,736,299 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENTS — 5.1% | ||||||||
MONEY MARKET FUNDS — 5.1% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 1,069,038 | 1,069,038 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(f) | 391,216 | $ | 391,216 | |||||
TOTAL SHORT TERM INVESTMENTS — (g) | ||||||||
(Cost $1,460,254) | 1,460,254 | |||||||
TOTAL INVESTMENTS — 102.7% (h) | ||||||||
(Cost $28,190,625) | 29,196,553 | |||||||
OTHER ASSETS & LIABILITIES — (2.7)% | (767,453 | ) | ||||||
NET ASSETS — 100.0% | $ | 28,429,100 | ||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Step-up Bond. Coupon rate increases in increments to maturity. Rate disclosed is as of December 31, 2010. Maturity date disclosed is the ultimate maturity. | |||||
(c) | Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 2.3% of net assets as of December 31, 2010, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | Investments of cash collateral for securities loaned. | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Value is determined based on Level 1 inputs. (Note 2) | |||||
(h) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
CONVERTIBLE CORPORATE BONDS & NOTES — 74.7% | ||||||||
AEROSPACE & DEFENSE — 0.5% | ||||||||
L-3 Communications Holdings, Inc. 3.00%, 8/1/2035 | $ | 2,900,000 | $ | 2,909,628 | ||||
AIRLINES — 0.5% | ||||||||
UAL Corp. 4.50%, 6/30/2021 | 2,800,000 | 2,897,020 | ||||||
AUTOMOBILES — 1.9% | ||||||||
Ford Motor Co. 4.25%, 11/15/2016 | 3,600,000 | 7,192,800 | ||||||
Navistar International Corp. 3.00%, 10/15/2014 | 2,350,000 | 3,136,545 | ||||||
10,329,345 | ||||||||
BEVERAGES — 0.5% | ||||||||
Molson Coors Brewing Co. 2.50%, 7/30/2013 (a) | 2,300,000 | 2,666,505 | ||||||
BIOTECHNOLOGY — 8.4% | ||||||||
Amgen, Inc.: | ||||||||
0.13%, 2/1/2011 | 9,450,000 | 9,388,140 | ||||||
0.38%, 2/1/2013 | 10,000,000 | 10,006,500 | ||||||
Amylin Pharmaceuticals, Inc. 3.00%, 6/15/2014 | 2,300,000 | 1,992,412 | ||||||
Cephalon, Inc.: | ||||||||
2.00%, 6/1/2015 | 3,250,000 | 4,565,958 | ||||||
2.50%, 5/1/2014 (a) | 2,100,000 | 2,367,792 | ||||||
Gilead Sciences, Inc.: | ||||||||
0.50%, 5/1/2011 | 2,450,000 | 2,513,602 | ||||||
0.63%, 5/1/2013 (a) | 2,650,000 | 2,925,865 | ||||||
1.00%, 5/1/2014 (b) | 5,250,000 | 5,405,452 | ||||||
1.63%, 5/1/2016 (b) | 5,250,000 | 5,461,050 | ||||||
44,626,771 | ||||||||
BUILDING PRODUCTS — 0.6% | ||||||||
Cemex SAB de CV 4.88%, 3/15/2015 (a)(b) | 2,750,000 | 2,996,950 | ||||||
COMMERCIAL BANKS — 0.8% | ||||||||
National City Corp. 4.00%, 2/1/2011 | 4,500,000 | 4,498,650 | ||||||
COMMUNICATIONS EQUIPMENT — 1.0% | ||||||||
Alcatel-Lucent USA, Inc. Series B, 2.88%, 6/15/2025 | 3,800,000 | 3,605,691 | ||||||
Ciena Corp. 0.88%, 6/15/2017 | 2,050,000 | 1,677,078 | ||||||
5,282,769 | ||||||||
COMPUTERS & PERIPHERALS — 7.1% | ||||||||
EMC Corp.: | ||||||||
1.75%, 12/1/2011 | 6,900,000 | 9,963,600 | ||||||
1.75%, 12/1/2013 | 6,950,000 | 10,470,870 | ||||||
NetApp, Inc. 1.75%, 6/1/2013 | 4,650,000 | 8,248,496 | ||||||
SanDisk Corp.: | ||||||||
1.00%, 5/15/2013 | 4,570,000 | 4,451,568 | ||||||
1.50%, 8/15/2017 | 4,000,000 | 4,549,640 | ||||||
37,684,174 | ||||||||
CONTAINERS & PACKAGING — 0.6% | ||||||||
Owens-Brockway Glass Container, Inc. 3.00%, 6/1/2015 (b) | 2,936,000 | 2,963,364 | ||||||
ELECTRICAL EQUIPMENT — 0.4% | ||||||||
Suntech Power Holdings Co., Ltd. 3.00%, 3/15/2013 | 2,250,000 | 1,980,000 | ||||||
ENERGY EQUIPMENT & SERVICES — 1.8% | ||||||||
Cameron International Corp. 2.50%, 6/15/2026 | 2,050,000 | 2,972,152 | ||||||
Nabors Industries, Inc. 0.94%, 5/15/2011 | 6,400,000 | 6,397,670 | ||||||
9,369,822 | ||||||||
FOOD PRODUCTS — 0.9% | ||||||||
Archer-Daniels-Midland Co. 0.88%, 2/15/2014 (a) | 4,500,000 | 4,612,050 | ||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 5.2% | ||||||||
Beckman Coulter, Inc. 2.50%, 12/15/2036 | 2,300,000 | 2,620,827 | ||||||
Hologic, Inc. 2.00%, 12/15/2037 (c) | 5,200,000 | 4,885,774 | ||||||
Kinetic Concepts, Inc. 3.25%, 4/15/2015 (b) | 2,550,000 | 2,685,711 | ||||||
Medtronic, Inc.: | ||||||||
1.50%, 4/15/2011 | 8,550,000 | 8,555,814 | ||||||
1.63%, 4/15/2013 (a) | 9,000,000 | 9,065,250 | ||||||
27,813,376 | ||||||||
HEALTH CARE PROVIDERS & SERVICES — 1.0% | ||||||||
LifePoint Hospitals, Inc. 3.50%, 5/15/2014 | 2,100,000 | 2,120,937 | ||||||
Omnicare, Inc.: | ||||||||
3.25%, 12/15/2035 | 935,000 | 857,964 | ||||||
3.75%, 12/15/2025 | 2,000,000 | 2,214,120 | ||||||
5,193,021 | ||||||||
HOTELS, RESTAURANTS & LEISURE — 1.8% | ||||||||
International Game Technology 3.25%, 5/1/2014 (a) | 3,650,000 | 4,211,772 | ||||||
MGM Resorts International 4.25%, 4/15/2015 (a)(b) | 4,750,000 | 5,202,675 | ||||||
9,414,447 | ||||||||
HOUSEHOLD DURABLES — 0.4% | ||||||||
D.R. Horton, Inc. 2.00%, 5/15/2014 | 2,050,000 | 2,311,888 | ||||||
INDUSTRIAL CONGLOMERATES — 0.9% | ||||||||
Textron, Inc. 4.50%, 5/1/2013 | 2,600,000 | 4,947,800 | ||||||
INSURANCE — 1.0% | ||||||||
Vale Capital II 6.75%, 6/15/2012 | 55,900 | 5,414,474 | ||||||
INTERNET & CATALOG RETAIL — 0.6% | ||||||||
priceline.com, Inc. 1.25%, 3/15/2015 (b) | 2,100,000 | 3,081,330 | ||||||
INTERNET SOFTWARE & SERVICES — 1.1% | ||||||||
VeriSign, Inc. 3.25%, 8/15/2037 | 5,000,000 | 5,628,750 | ||||||
See accompanying notes to financial statements.
81
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
IT SERVICES — 0.7% | ||||||||
Alliance Data Systems Corp. 1.75%, 8/1/2013 (a) | $ | 3,450,000 | $ | 3,708,026 | ||||
MACHINERY — 0.9% | ||||||||
Danaher Corp. Zero Coupon, 1/22/2021 | 3,450,000 | 4,718,772 | ||||||
MARINE — 0.5% | ||||||||
DryShips, Inc. 5.00%, 12/1/2014 | 2,750,000 | 2,809,840 | ||||||
MEDIA — 3.9% | ||||||||
Liberty Global, Inc. 4.50%, 11/15/2016 (a) | 3,900,000 | 5,811,624 | ||||||
Liberty Media LLC: | ||||||||
3.13%, 3/30/2023 | 4,200,000 | 4,715,340 | ||||||
3.25%, 3/15/2031 | 2,200,000 | 1,522,400 | ||||||
Virgin Media, Inc. 6.50%, 11/15/2016 | 4,050,000 | 6,712,875 | ||||||
XM Satellite Radio, Inc. 7.00%, 12/1/2014 (b) | 1,750,000 | 2,166,587 | ||||||
20,928,826 | ||||||||
METALS & MINING — 6.6% | ||||||||
Alcoa, Inc. 5.25%, 3/15/2014 | 2,300,000 | 5,685,784 | ||||||
AngloGold Ashanti, Holdings Finance PLC 3.50%, 5/22/2014 (b) | 2,100,000 | 2,617,188 | ||||||
ArcelorMittal 5.00%, 5/15/2014 | 3,400,000 | 4,886,752 | ||||||
Goldcorp, Inc. 2.00%, 8/1/2014 (a) | 3,450,000 | 4,240,774 | ||||||
Newmont Mining Corp.: | ||||||||
1.25%, 7/15/2014 (a) | 2,250,000 | 3,223,238 | ||||||
1.63%, 7/15/2017 | 2,200,000 | 3,193,630 | ||||||
3.00%, 2/15/2012 | 2,100,000 | 2,914,800 | ||||||
Sterlite Industries India, Ltd. 4.00%, 10/30/2014 | 1,850,000 | 1,907,350 | ||||||
United States Steel Corp. 4.00%, 5/15/2014 (a) | 3,400,000 | 6,618,644 | ||||||
35,288,160 | ||||||||
OIL, GAS & CONSUMABLE FUELS — 6.4% | ||||||||
Chesapeake Energy Corp.: | ||||||||
2.25%, 12/15/2038 | 4,600,000 | 3,567,990 | ||||||
2.50%, 5/15/2037 | 8,300,000 | 7,382,925 | ||||||
Massey Energy Co. 3.25%, 8/1/2015 (a) | 2,775,000 | 2,735,920 | ||||||
Peabody Energy Corp. 4.75%, 12/15/2066 (a) | 2,850,000 | 3,683,967 | ||||||
Transocean, Inc.: | ||||||||
Series B 1.50%, 12/15/2037 (a) | 6,650,000 | 6,559,872 | ||||||
Series C 1.50%, 12/15/2037 | 6,850,000 | 6,629,820 | ||||||
Series A 1.63%, 12/15/2037 (a) | 1,500,000 | 1,450,353 | ||||||
USEC, Inc. 3.00%, 10/1/2014 | 2,150,000 | 1,935,660 | ||||||
33,946,507 | ||||||||
PHARMACEUTICALS — 2.9% | ||||||||
Allergan, Inc. 1.50%, 4/1/2026 (a) | 2,550,000 | 2,883,107 | ||||||
Mylan, Inc.: | ||||||||
1.25%, 3/15/2012 (a) | 2,300,000 | 2,437,747 | ||||||
3.75%, 9/15/2015 | 2,650,000 | 4,575,225 | ||||||
Teva Pharmaceutical Finance Co. BV Series B 1.75%, 2/1/2026 (a) | 3,350,000 | 3,644,967 | ||||||
Teva Pharmaceutical Finance Co. LLC Series C 0.25%, 2/1/2026 | 1,750,000 | 2,044,875 | ||||||
15,585,921 | ||||||||
REAL ESTATE INVESTMENT TRUSTS — 3.1% | ||||||||
Annaly Capital Management, Inc. 4.00%, 2/15/2015 (a) | 2,350,000 | 2,733,355 | ||||||
Boston Properties LP: | ||||||||
2.88%, 2/15/2037 | 2,750,000 | 2,788,005 | ||||||
3.63%, 2/15/2014 (b) | 3,000,000 | 3,193,620 | ||||||
Host Hotels & Resorts LP 2.63%, 4/15/2027 (b) | 2,200,000 | 2,196,080 | ||||||
ProLogis 2.25%, 4/1/2037 (a) | 3,050,000 | 3,037,254 | ||||||
The Macerich Co. 3.25%, 3/15/2012 (b) | 2,500,000 | 2,500,275 | ||||||
16,448,589 | ||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 7.4% | ||||||||
Advanced Micro Devices, Inc. 6.00%, 5/1/2015 | 4,100,000 | 4,121,525 | ||||||
Intel Corp.: | ||||||||
2.95%, 12/15/2035 (a) | 6,250,000 | 6,219,687 | ||||||
3.25%, 8/1/2039 (a) | 8,150,000 | 9,767,123 | ||||||
Linear Technology Corp. Series A 3.00%, 5/1/2027 | 3,400,000 | 3,601,552 | ||||||
Microchip Technology, Inc. 2.13%, 12/15/2037 | 4,750,000 | 5,802,600 | ||||||
Micron Technology, Inc. 1.88%, 6/1/2014 | 4,400,000 | 4,116,552 | ||||||
Xilinx, Inc.: | ||||||||
2.63%, 6/15/2017 (a)(b) | 2,500,000 | 2,933,750 | ||||||
3.13%, 3/15/2037 | 2,550,000 | 2,651,490 | ||||||
39,214,279 | ||||||||
SOFTWARE — 3.3% | ||||||||
Microsoft Corp. Zero Coupon, 6/15/2013 (a)(b) | 5,250,000 | 5,633,198 | ||||||
Salesforce.com, Inc. 0.75%, 1/15/2015 (b) | 2,700,000 | 4,441,716 | ||||||
Symantec Corp.: | ||||||||
0.75%, 6/15/2011 (a) | 3,400,000 | 3,521,040 | ||||||
1.00%, 6/15/2013 (a) | 3,650,000 | 4,145,889 | ||||||
17,741,843 | ||||||||
TELECOMMUNICATIONS — 0.1% | ||||||||
Clearwire Communications LLC/Clearwire Finance, Inc. 8.25%, 12/1/2040 (b) | 500,000 | 516,377 | ||||||
WIRELESS TELECOMMUNICATION SERVICES — 1.9% | ||||||||
NII Holdings, Inc. 3.13%, 6/15/2012 | 4,350,000 | 4,267,280 | ||||||
SBA Communications Corp.: | ||||||||
1.88%, 5/1/2013 | 2,150,000 | 2,428,855 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
4.00%, 10/1/2014 | $ | 2,100,000 | $ | 3,150,840 | ||||
9,846,975 | ||||||||
TOTAL CONVERTIBLE CORPORATE BONDS & NOTES — | ||||||||
(Cost $363,964,661) | 397,376,249 | |||||||
Shares | ||||||||
CONVERTIBLE PREFERRED STOCKS — 24.3% | ||||||||
AUTOMOBILES — 6.6% | ||||||||
General Motors Co. 4.75%, 12/1/2013 | 431,000 | 23,321,410 | ||||||
Ford Motor Co. Capital Trust II 6.50%, 1/15/2032 | 232,918 | 12,079,127 | ||||||
35,400,537 | ||||||||
COMMERCIAL BANKS — 3.0% | ||||||||
Wells Fargo & Co. Series L 7.50%, 12/31/2049 (d) | 16,200 | 16,208,910 | ||||||
DIVERSIFIED FINANCIAL SERVICES — 5.8% | ||||||||
Bank of America Corp. Series L 7.25%, 12/31/2049 | 13,565 | 12,981,298 | ||||||
Citigroup, Inc. 7.50%, 12/15/2012 (a) | 129,179 | 17,657,478 | ||||||
30,638,776 | ||||||||
ELECTRIC UTILITIES — 1.4% | ||||||||
AES Trust III 6.75%, 10/15/2029 | 46,100 | 2,258,900 | ||||||
PPL Corp. 9.50%, 7/1/2013 (a) | 93,274 | 5,127,272 | ||||||
7,386,172 | ||||||||
FOOD PRODUCTS — 1.5% | ||||||||
Archer-Daniels-Midland Co. 6.25%, 6/1/2011 (a) | 143,400 | 5,568,222 | ||||||
Bunge, Ltd. 4.88%, 12/31/2049 | 27,500 | 2,585,000 | ||||||
8,153,222 | ||||||||
HAND/MACHINE TOOLS — 0.6% | ||||||||
Stanley Black & Decker, Inc. 4.75%, 11/17/2015 (a) | 30,400 | 3,312,962 | ||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 0.4% | ||||||||
Alere, Inc. 3.00%, 12/31/2049 (a)(d) | 9,334 | 2,324,166 | ||||||
INSURANCE — 1.1% | ||||||||
Hartford Financial Services Group, Inc. 7.25%, 4/1/2013 (a) | 94,200 | 2,412,462 | ||||||
XL Group PLC 10.75%, 6/15/2010 (a) | 108,900 | 3,393,324 | ||||||
5,805,786 | ||||||||
METALS & MINING — 0.7% | ||||||||
AngloGold Ashanti, Ltd. 6.00%, 9/15/2013 | 67,700 | 3,755,996 | ||||||
OIL, GAS & CONSUMABLE FUELS — 1.6% | ||||||||
Apache Corp. 6.00%, 8/1/2013 (a) | 110,000 | 7,288,600 | ||||||
CenterPoint Energy, Inc. 0.30%, 9/15/2029 (e) | 30,500 | 973,148 | ||||||
8,261,748 | ||||||||
PIPELINES — 0.7% | ||||||||
El Paso Corp. 4.99%, 12/31/2049 (d)(f) | 3,200 | 3,744,000 | ||||||
THRIFTS & MORTGAGE FINANCE — 0.3% | ||||||||
Federal National Mortgage Association 5.38%, 12/31/2049 (d) | 25 | 30,000 | ||||||
Sovereign Capital Trust IV 4.38%, 3/1/2034 | 37,300 | 1,492,000 | ||||||
1,522,000 | ||||||||
WIRELESS TELECOMMUNICATION SERVICES — 0.6% | ||||||||
Lucent Technologies Capital Trust I 7.75%, 3/15/2017 | 3,500 | 3,101,000 | ||||||
TOTAL CONVERTIBLE PREFERRED STOCKS — (g) | ||||||||
(Cost $117,974,100) | 129,615,275 | |||||||
COMMON STOCKS — 0.0% (h) | ||||||||
THRIFTS & MORTGAGE FINANCE — 0.0% (h) | ||||||||
Federal National Mortgage Association (a)(d) (Cost $110,270) | 100,000 | 30,000 | ||||||
SHORT TERM INVESTMENTS — 13.9% | ||||||||
MONEY MARKET FUNDS — 13.9% | ||||||||
State Street Navigator Securities Lending Prime Portfolio (i)(j) | 60,198,425 | 60,198,425 | ||||||
State Street Institutional Liquid Reserves Fund 0.18% (i)(k) | 13,859,879 | 13,859,879 | ||||||
TOTAL SHORT TERM INVESTMENTS — (g) | ||||||||
(Cost $74,058,304) | 74,058,304 | |||||||
TOTAL INVESTMENTS — 112.9% (l) | ||||||||
(Cost $556,107,335) | 601,079,828 | |||||||
OTHER ASSETS & LIABILITIES — (12.9)% | (68,834,413 | ) | ||||||
NET ASSETS — 100.0% | $ | 532,245,415 | ||||||
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 10.1% of net assets as of December 31, 2010, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||
(c) | Step-up Bond. Coupon rate increases in increments to maturity. Rate disclosed is as of December 31, 2010. Maturity date disclosed is the ultimate maturity. | |||||
(d) | Non-income producing security. | |||||
(e) | Variable-rate security. Rate shown is rate in effect at December 31, 2010. Maturity date disclosed is the ultimate maturity. | |||||
(f) | Security is valued at fair value as determined in good faith by the Trust’s Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. Amount represents 0.7% of net assets. | |||||
(g) | Value determined based on Level 1 inputs. (Note 2) | |||||
(h) | Amount shown represents less than 0.05% of net assets. | |||||
(i) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(j) | Investments of cash collateral for securities loaned. | |||||
(k) | The rate shown is the annualized seven-day yield at period end. | |||||
(l) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
See accompanying notes to financial statements.
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SPDR Barclays Capital Mortgage Backed Bond ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
U.S. GOVERNMENT AGENCY MBS TBA — 99.8% | ||||||||
Fannie Mae | ||||||||
4.00%, 15yr TBA | $ | 500,000 | $ | 514,922 | ||||
4.00%, 30yr TBA | 2,000,000 | 1,990,000 | ||||||
4.50%, 15yr TBA | 750,000 | 786,328 | ||||||
4.50%, 30yr TBA | 2,000,000 | 2,053,125 | ||||||
5.00%, 15yr TBA | 900,000 | 955,406 | ||||||
5.00%, 30yr TBA | 3,000,000 | 3,154,219 | ||||||
5.50%, 15yr TBA | 500,000 | 538,594 | ||||||
5.50%, 30yr TBA | 2,000,000 | 2,140,937 | ||||||
6.00%, 30yr TBA | 950,000 | 1,032,531 | ||||||
6.50%, 30yr TBA | 500,000 | 555,469 | ||||||
Freddie Mac | ||||||||
4.00%, 15yr TBA | 1,000,000 | 1,027,656 | ||||||
4.50%, 15yr TBA | 500,000 | 522,656 | ||||||
4.50%, 30yr TBA | 2,800,000 | 2,870,000 | ||||||
5.00%, 30yr TBA | 1,750,000 | 1,835,313 | ||||||
5.50%, 30yr TBA | 2,800,000 | 2,985,281 | ||||||
6.00%, 30yr TBA | 2,000,000 | 2,166,875 | ||||||
6.50%, 30yr TBA | 400,000 | 443,125 | ||||||
Ginnie Mae | ||||||||
4.00%, 2/15/2040 | 99,108 | 100,013 | ||||||
4.00%, 30yr TBA | 275,000 | 276,977 | ||||||
4.50%, 30yr TBA | 2,200,000 | 2,284,562 | ||||||
5.00%, 30yr TBA | 2,000,000 | 2,126,875 | ||||||
5.50%, 30yr TBA | 850,000 | 919,195 | ||||||
6.00%, 30yr TBA | 500,000 | 550,000 | ||||||
6.50%, 30yr TBA | 250,000 | 281,798 | ||||||
TOTAL U.S. GOVERNMENT AGENCY MBS TBA — | ||||||||
(Cost $32,280,577) | 32,111,857 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENT — 101.3% | ||||||||
MONEY MARKET FUND — 101.3% | ||||||||
State Street Institutional Liquid Reserves Fund 0.18% (a)(b)(c)(d) (Cost $32,597,032) | 32,597,032 | 32,597,032 | ||||||
TOTAL INVESTMENTS — 201.1% (e) | ||||||||
(Cost $64,877,609) | 64,708,889 | |||||||
OTHER ASSETS & LIABILITIES — (101.1)% | (32,533,884 | ) | ||||||
NET ASSETS — 100.0% | $ | 32,175,005 | ||||||
(a) | Security, or a portion of the security has been designated as collateral for TBA securities. | |||||
(b) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(c) | Value is determined based on Level 1 inputs. (Note 2) | |||||
(d) | The rate shown is the annualized seven-day yield at period end. | |||||
(e) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
TBA = To Be Announced
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
CORPORATE BONDS & NOTES — 23.7% | ||||||||
ADVERTISING — 0.0% (a) | ||||||||
Omnicom Group, Inc. 4.45%, 8/15/2020 | $ | 35,000 | $ | 34,053 | ||||
AEROSPACE & DEFENSE — 0.3% | ||||||||
General Dynamics Corp. 5.25%, 2/1/2014 | 220,000 | 242,216 | ||||||
The Boeing Co. 6.13%, 2/15/2033 | 165,000 | 180,337 | ||||||
United Technologies Corp.: | ||||||||
4.50%, 4/15/2020 | 60,000 | 62,761 | ||||||
5.70%, 4/15/2040 | 60,000 | 64,963 | ||||||
550,277 | ||||||||
AIR FREIGHT & LOGISTICS — 0.1% | ||||||||
United Parcel Service, Inc. 6.20%, 1/15/2038 | 100,000 | 114,437 | �� | |||||
AIRLINES — 0.1% | ||||||||
Delta Air Lines 2010-2 Pass Through Trust, Class A 4.95%, 5/23/2019 (b) | 100,000 | 100,250 | ||||||
BEVERAGES — 0.5% | ||||||||
Anheuser-Busch InBev Worldwide, Inc. 5.38%, 1/15/2020 | 235,000 | 254,229 | ||||||
Bottling Group LLC 6.95%, 3/15/2014 | 200,000 | 230,152 | ||||||
Diageo Capital PLC 5.75%, 10/23/2017 | 250,000 | 282,941 | ||||||
PepsiCo, Inc. 4.50%, 1/15/2020 (b) | 100,000 | 104,969 | ||||||
The Coca-Cola Co.: | ||||||||
0.75%, 11/15/2013 | 100,000 | 98,323 | ||||||
1.50%, 11/15/2015 | 100,000 | 95,777 | ||||||
3.15%, 11/15/2020 | 70,000 | 65,490 | ||||||
1,131,881 | ||||||||
BIOTECHNOLOGY — 0.1% | ||||||||
Amgen, Inc.: | ||||||||
4.50%, 3/15/2020 | 50,000 | 51,814 | ||||||
5.75%, 3/15/2040 | 55,000 | 58,232 | ||||||
Life Technologies Corp. 6.00%, 3/1/2020 | 100,000 | 107,625 | ||||||
217,671 | ||||||||
CAPITAL MARKETS — 0.9% | ||||||||
BlackRock, Inc. 3.50%, 12/10/2014 (b) | 200,000 | 206,973 | ||||||
Svensk Exportkredit AB 5.13%, 3/1/2017 | 205,000 | 228,249 | ||||||
The Bank of New York Mellon Corp. 4.95%, 11/1/2012 (b) | 230,000 | 245,593 | ||||||
The Goldman Sachs Group, Inc.: | ||||||||
3.25%, 6/15/2012 (b) | 205,000 | 212,973 | ||||||
5.35%, 1/15/2016 | 405,000 | 437,118 | ||||||
5.95%, 1/15/2027 | 595,000 | 591,976 | ||||||
1,922,882 | ||||||||
CHEMICALS — 0.2% | ||||||||
Praxair, Inc. 2.13%, 6/14/2013 | 100,000 | 101,871 | ||||||
The Dow Chemical Co. 8.55%, 5/15/2019 | 330,000 | 411,779 | ||||||
513,650 | ||||||||
COMMERCIAL BANKS — 3.9% | ||||||||
Asian Development Bank 2.75%, 5/21/2014 | 205,000 | 213,585 | ||||||
Bank of Nova Scotia 2.38%, 12/17/2013 | 100,000 | 102,387 | ||||||
Barclays Bank PLC: | ||||||||
3.90%, 4/7/2015 (b) | 150,000 | 154,368 | ||||||
5.13%, 1/8/2020 | 100,000 | 102,327 | ||||||
BB&T Corp. 3.95%, 4/29/2016 | 100,000 | 103,822 | ||||||
Deutsche Bank AG 6.00%, 9/1/2017 | 250,000 | 279,706 | ||||||
E.I. du Pont de Nemours & Co. 5.25%, 12/15/2016 (b) | 255,000 | 283,663 | ||||||
European Investment Bank: | ||||||||
2.00%, 2/10/2012 (b) | 840,000 | 853,284 | ||||||
2.38%, 3/14/2014 (b) | 545,000 | 561,191 | ||||||
Export-Import Bank of Korea: | ||||||||
4.13%, 9/9/2015 | 200,000 | 203,781 | ||||||
5.88%, 1/14/2015 | 205,000 | 222,121 | ||||||
HSBC Bank USA NA 4.63%, 4/1/2014 (b) | 370,000 | 385,972 | ||||||
Inter-American Development Bank 5.13%, 9/13/2016 | 405,000 | 461,088 | ||||||
International Bank for Reconstruction & Development: | ||||||||
2.00%, 4/2/2012 | 150,000 | 152,849 | ||||||
2.38%, 5/26/2015 | 200,000 | 204,217 | ||||||
4.75%, 2/15/2035 | 80,000 | 82,030 | ||||||
JPMorgan Chase & Co.: | ||||||||
2.20%, 6/15/2012 | 310,000 | 317,392 | ||||||
6.40%, 5/15/2038 | 205,000 | 234,134 | ||||||
JPMorgan Chase Bank NA 6.00%, 10/1/2017 | 555,000 | 613,015 | ||||||
Key Bank NA 5.80%, 7/1/2014 (b) | 205,000 | 219,262 | ||||||
Kreditanstalt fuer Wiederaufbau: | ||||||||
4.00%, 10/15/2013 | 720,000 | 774,421 | ||||||
4.50%, 7/16/2018 | 215,000 | 234,621 | ||||||
Landwirtschaftliche Rentenbank 3.13%, 7/15/2015 (b) | 200,000 | 207,997 | ||||||
Nordic Investment Bank 2.50%, 7/15/2015 | 100,000 | 102,056 | ||||||
Oesterreichische Kontrollbank AG 4.75%, 10/16/2012 (b) | 205,000 | 219,302 | ||||||
PNC Funding Corp. 5.13%, 2/8/2020 (b) | 150,000 | 155,753 | ||||||
SunTrust Bank/Atlanta GA: | ||||||||
5.00%, 9/1/2015 | 16,000 | 16,595 | ||||||
7.25%, 3/15/2018 | 60,000 | 65,227 | ||||||
The Royal Bank Of Scotland Plc 3.40%, 8/23/2013 (b) | 100,000 | 101,015 | ||||||
US Bancorp 1.38%, 9/13/2013 | 100,000 | 99,415 | ||||||
Wachovia Bank NA 5.85%, 2/1/2037 (b) | 275,000 | 275,004 |
See accompanying notes to financial statements.
86
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SPDR Barclays Capital Aggregate Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Wachovia Corp. 5.63%, 10/15/2016 | $ | 200,000 | $ | 218,100 | ||||
Wells Fargo & Co. 5.63%, 12/11/2017 | 150,000 | 166,531 | ||||||
Wells Fargo Bank NA 4.75%, 2/9/2015 | 245,000 | 258,393 | ||||||
8,644,624 | ||||||||
COMMERCIAL SERVICES & SUPPLIES — 0.2% | ||||||||
R.R. Donnelley & Sons Co. 5.50%, 5/15/2015 | 100,000 | 103,500 | ||||||
Republic Services, Inc. 5.00%, 3/1/2020 (b) | 100,000 | 104,989 | ||||||
Waste Management, Inc. 7.38%, 3/11/2019 | 100,000 | 120,780 | ||||||
329,269 | ||||||||
COMMUNICATIONS EQUIPMENT — 0.1% | ||||||||
Cisco Systems, Inc. 5.50%, 2/22/2016 | 240,000 | 272,865 | ||||||
COMPUTERS & PERIPHERALS — 0.3% | ||||||||
Dell, Inc. 2.30%, 9/10/2015 (b) | 100,000 | 97,110 | ||||||
Hewlett-Packard Co. 6.13%, 3/1/2014 | 200,000 | 223,461 | ||||||
International Business Machines Corp.: | ||||||||
5.70%, 9/14/2017 | 210,000 | 240,022 | ||||||
5.88%, 11/29/2032 | 165,000 | 182,921 | ||||||
743,514 | ||||||||
DIVERSIFIED CONSUMER SERVICES — 0.1% | ||||||||
Stanford University 4.75%, 5/1/2019 | 110,000 | 117,774 | ||||||
DIVERSIFIED FINANCIAL SERVICES — 6.1% | ||||||||
American Express Co. 8.13%, 5/20/2019 | 150,000 | 188,175 | ||||||
American Express Credit Corp. 5.88%, 5/2/2013 | 265,000 | 288,334 | ||||||
Bank of America Corp.: | ||||||||
Series L 2.10%, 4/30/2012 | 205,000 | 209,318 | ||||||
Series L 3.13%, 6/15/2012 | 410,000 | 425,236 | ||||||
Bank of America NA 5.30%, 3/15/2017 | 785,000 | 795,121 | ||||||
BP Capital Markets PLC 3.13%, 3/10/2012 | 100,000 | 102,127 | ||||||
Capital One Financial Corp. 8.88%, 5/15/2040 | 155,000 | 160,425 | ||||||
Citigroup Funding, Inc. 0.21%, 5/5/2011 (b) | 5,300,000 | 5,300,212 | ||||||
Citigroup, Inc. 5.63%, 8/27/2012 | 925,000 | 973,887 | ||||||
Credit Suisse USA, Inc. 6.50%, 1/15/2012 | 585,000 | 618,172 | ||||||
General Electric Capital Corp.: | ||||||||
2.25%, 11/9/2015 (b) | 200,000 | 191,392 | ||||||
2.63%, 12/28/2012 | 530,000 | 549,688 | ||||||
5.25%, 10/19/2012 | 405,000 | 432,992 | ||||||
5.63%, 5/1/2018 | 485,000 | 528,080 | ||||||
6.75%, 3/15/2032 (b) | 240,000 | 270,775 | ||||||
JPMorgan Chase & Co. 4.25%, 10/15/2020 | 150,000 | 147,005 | ||||||
Merrill Lynch & Co., Inc. 6.88%, 4/25/2018 | 580,000 | 632,774 | ||||||
Morgan Stanley: | ||||||||
6.00%, 5/13/2014 (b) | 560,000 | 603,812 | ||||||
6.63%, 4/1/2018 | 390,000 | 426,771 | ||||||
National Rural Utilities Cooperative Finance Corp. 8.00%, 3/1/2032 | 210,000 | 270,479 | ||||||
Nomura Holdings, Inc.: | ||||||||
5.00%, 3/4/2015 | 70,000 | 72,625 | ||||||
6.70%, 3/4/2020 | 21,000 | 22,169 | ||||||
Toyota Motor Credit Corp. 1.38%, 8/12/2013 (b) | 100,000 | 100,200 | ||||||
UBS AG of Stamford, CT 2.25%, 8/12/2013 (b) | 250,000 | 252,685 | ||||||
13,562,454 | ||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 0.3% | ||||||||
British Telecommunications PLC 9.88%, 12/15/2030 | 100,000 | 132,645 | ||||||
Deutsche Telekom International Finance BV 6.75%, 8/20/2018 (b) | 210,000 | 247,607 | ||||||
Qwest Corp. 8.38%, 5/1/2016 (b) | 15,000 | 17,763 | ||||||
Verizon Communications, Inc. 6.40%, 2/15/2038 | 300,000 | 328,818 | ||||||
726,833 | ||||||||
ELECTRIC UTILITIES — 1.3% | ||||||||
Commonwealth Edison Co., Series 1 5.90%, 3/15/2036 | 100,000 | 103,336 | ||||||
Duke Energy Carolinas LLC 7.00%, 11/15/2018 | 620,000 | 758,408 | ||||||
Florida Power & Light Co. 5.69%, 3/1/2040 | 65,000 | 69,246 | ||||||
Georgia Power Co. 4.75%, 9/1/2040 | 100,000 | 92,524 | ||||||
Northern States Power Co/MN: | ||||||||
1.95%, 8/15/2015 | 100,000 | 97,766 | ||||||
4.85%, 8/15/2040 (b) | 100,000 | 95,468 | ||||||
Pacific Gas & Electric Co. 4.80%, 3/1/2014 | 630,000 | 677,537 | ||||||
Progress Energy, Inc. 7.75%, 3/1/2031 | 255,000 | 319,312 | ||||||
PSEG Power LLC 5.13%, 4/15/2020 (b) | 80,000 | 83,117 | ||||||
San Diego Gas & Electric Co. 6.13%, 9/15/2037 | 115,000 | 130,262 | ||||||
Virginia Electric and Power Co. 5.10%, 11/30/2012 (b) | 360,000 | 387,200 | ||||||
2,814,176 | ||||||||
FOOD & STAPLES RETAILING — 0.4% | ||||||||
CVS Caremark Corp. 6.25%, 6/1/2027 | 150,000 | 163,767 | ||||||
Safeway, Inc. 5.63%, 8/15/2014 | 215,000 | 237,619 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Target Corp. 7.00%, 1/15/2038 | $ | 220,000 | $ | 272,320 | ||||
Wal-Mart Stores, Inc. 5.88%, 4/5/2027 | 200,000 | 223,353 | ||||||
897,059 | ||||||||
FOOD PRODUCTS — 0.3% | ||||||||
Archer-Daniels-Midland Co. 5.38%, 9/15/2035 | 240,000 | 242,461 | ||||||
General Mills, Inc. 5.70%, 2/15/2017 | 305,000 | 342,500 | ||||||
Kraft Foods, Inc. 6.50%, 2/9/2040 | 100,000 | 112,073 | ||||||
697,034 | ||||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 0.1% | ||||||||
Baxter International, Inc. 6.25%, 12/1/2037 (b) | 155,000 | 177,210 | ||||||
Covidien International Finance SA 2.80%, 6/15/2015 | 100,000 | 100,777 | ||||||
277,987 | ||||||||
HEALTH CARE PROVIDERS & SERVICES — 0.2% | ||||||||
Express Scripts, Inc. 6.25%, 6/15/2014 | 205,000 | 228,251 | ||||||
UnitedHealth Group, Inc. 6.00%, 2/15/2018 | 200,000 | 223,859 | ||||||
WellPoint, Inc. 5.80%, 8/15/2040 | 55,000 | 55,233 | ||||||
507,343 | ||||||||
HOTELS, RESTAURANTS & LEISURE — 0.1% | ||||||||
McDonald’s Corp. 5.35%, 3/1/2018 | 210,000 | 236,071 | ||||||
HOUSEHOLD DURABLES — 0.0% (a) | ||||||||
Newell Rubbermaid, Inc. 4.70%, 8/15/2020 | 100,000 | 98,823 | ||||||
HOUSEHOLD PRODUCTS — 0.2% | ||||||||
Fortune Brands, Inc. 6.38%, 6/15/2014 | 100,000 | 107,880 | ||||||
Kimberly-Clark Corp. 5.00%, 8/15/2013 | 115,000 | 125,630 | ||||||
The Procter & Gamble Co. 5.55%, 3/5/2037 | 100,000 | 107,981 | ||||||
341,491 | ||||||||
INDUSTRIAL CONGLOMERATES — 0.1% | ||||||||
3M Co. 4.38%, 8/15/2013 (b) | 100,000 | 108,314 | ||||||
Cooper US, Inc. 3.88%, 12/15/2020 | 50,000 | 48,871 | ||||||
Tyco International Finance SA 3.38%, 10/15/2015 (b) | 100,000 | 102,044 | ||||||
259,229 | ||||||||
INSURANCE — 1.0% | ||||||||
Aflac, Inc. 3.45%, 8/15/2015 (b) | 100,000 | 101,865 | ||||||
American International Group, Inc. 5.45%, 5/18/2017 | 640,000 | 644,966 | ||||||
Berkshire Hathaway Finance Corp. 5.00%, 8/15/2013 (b) | 215,000 | 234,583 | ||||||
CNA Financial Corp. 7.35%, 11/15/2019 | 100,000 | 109,146 | ||||||
Genworth Financial, Inc. 7.70%, 6/15/2020 | 100,000 | 104,399 | ||||||
Hartford Financial Services Group, Inc.: | ||||||||
4.00%, 3/30/2015 | 100,000 | 99,747 | ||||||
6.63%, 3/30/2040 | 100,000 | 100,965 | ||||||
Lincoln National Corp. 6.30%, 10/9/2037 | 100,000 | 99,995 | ||||||
Marsh & McLennan Cos., Inc. 5.75%, 9/15/2015 | 100,000 | 107,592 | ||||||
MetLife, Inc. 5.70%, 6/15/2035 | 405,000 | 407,682 | ||||||
Prudential Financial, Inc. 3.88%, 1/14/2015 | 135,000 | 138,609 | ||||||
The Allstate Corp. 5.95%, 4/1/2036 | 165,000 | 173,903 | ||||||
2,323,452 | ||||||||
INTERNET SOFTWARE & SERVICES — 0.0% (a) | ||||||||
eBay, Inc. 0.88%, 10/15/2013 | 35,000 | 34,549 | ||||||
MACHINERY — 0.3% | ||||||||
Caterpillar Financial Services Corp. 7.15%, 2/15/2019 (b) | 220,000 | 270,665 | ||||||
Caterpillar, Inc. 6.05%, 8/15/2036 | 165,000 | 186,001 | ||||||
John Deere Capital Corp. 2.80%, 9/18/2017 | 100,000 | 97,111 | ||||||
553,777 | ||||||||
MEDIA — 0.9% | ||||||||
CBS Corp. 8.20%, 5/15/2014 | 210,000 | 244,650 | ||||||
Comcast Corp.: | ||||||||
6.40%, 5/15/2038 | 210,000 | 224,171 | ||||||
6.50%, 1/15/2017 | 330,000 | 378,555 | ||||||
DIRECTV Holdings LLC 5.20%, 3/15/2020 | 65,000 | 67,382 | ||||||
NBC Universal, Inc.: | ||||||||
3.65%, 4/30/2015 (c) | 75,000 | 76,614 | ||||||
5.15%, 4/30/2020 (c) | 35,000 | 36,300 | ||||||
News America, Inc. 6.15%, 3/1/2037 | 240,000 | 249,580 | ||||||
Time Warner Cable, Inc. 5.85%, 5/1/2017 | 330,000 | 365,709 | ||||||
Time Warner, Inc. 7.70%, 5/1/2032 | 240,000 | 292,029 | ||||||
Viacom, Inc. 6.25%, 4/30/2016 | 100,000 | 113,605 | ||||||
2,048,595 | ||||||||
METALS & MINING — 0.4% | ||||||||
Alcoa, Inc. 5.38%, 1/15/2013 | 215,000 | 228,438 | ||||||
ArcelorMittal 5.38%, 6/1/2013 | 100,000 | 106,343 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Rio Tinto Finance USA, Ltd. 1.88%, 11/2/2015 | $ | 300,000 | $ | 288,000 | ||||
Vale Overseas, Ltd. 6.88%, 11/21/2036 | 330,000 | 358,525 | ||||||
981,306 | ||||||||
MULTI-UTILITIES — 0.1% | ||||||||
MidAmerican Energy Holdings Co. 6.13%, 4/1/2036 (b) | 255,000 | 274,780 | ||||||
OFFICE ELECTRONICS — 0.1% | ||||||||
Xerox Corp. 5.65%, 5/15/2013 | 280,000 | 304,257 | ||||||
OIL, GAS & CONSUMABLE FUELS — 1.9% | ||||||||
Anadarko Petroleum Corp. 5.95%, 9/15/2016 (b) | 130,000 | 138,951 | ||||||
Canadian Natural Resources, Ltd. 6.25%, 3/15/2038 | 405,000 | 449,440 | ||||||
Conoco, Inc. 6.95%, 4/15/2029 | 100,000 | 122,508 | ||||||
ConocoPhillips Canada Funding Co. 5.63%, 10/15/2016 (b) | 730,000 | 834,686 | ||||||
Enterprise Products Operating LLC 5.20%, 9/1/2020 | 200,000 | 206,838 | ||||||
Hess Corp. 5.60%, 2/15/2041 | 100,000 | 99,280 | ||||||
Kinder Morgan Energy Partners LP 5.80%, 3/15/2035 (b) | 175,000 | 165,233 | ||||||
Occidental Petroleum Corp. 2.50%, 2/1/2016 | 100,000 | 99,599 | ||||||
Pemex Project Funding Master Trust 6.63%, 6/15/2035 | 115,000 | 116,222 | ||||||
Petro-Canada 5.95%, 5/15/2035 | 100,000 | 102,870 | ||||||
Petrobras International Finance Co.: | ||||||||
5.75%, 1/20/2020 | 105,000 | 108,837 | ||||||
6.88%, 1/20/2040 | 105,000 | 109,976 | ||||||
Shell International Finance BV 6.38%, 12/15/2038 | 220,000 | 259,346 | ||||||
Southern Natural Gas Co. 5.90%, 4/1/2017 (c) | 580,000 | 612,325 | ||||||
TransCanada PipeLines, Ltd.: | ||||||||
6.10%, 6/1/2040 | 100,000 | 109,010 | ||||||
6.50%, 8/15/2018 | 100,000 | 117,834 | ||||||
Transocean, Inc. 6.00%, 3/15/2018 | 55,000 | 57,598 | ||||||
Valero Energy Corp. 6.13%, 2/1/2020 | 65,000 | 68,326 | ||||||
Weatherford International, Inc. 6.80%, 6/15/2037 | 239,000 | 249,557 | ||||||
Williams Partners LP 5.25%, 3/15/2020 | 110,000 | 113,196 | ||||||
4,141,632 | ||||||||
PHARMACEUTICALS — 0.9% | ||||||||
Abbott Laboratories 5.13%, 4/1/2019 | 400,000 | 440,967 | ||||||
AstraZeneca PLC 6.45%, 9/15/2037 | 75,000 | 88,939 | ||||||
Eli Lilly & Co. 5.20%, 3/15/2017 | 225,000 | 250,753 | ||||||
GlaxoSmithKline Capital, Inc. 6.38%, 5/15/2038 | 155,000 | 182,704 | ||||||
Novartis Capital Corp. 1.90%, 4/24/2013 | 160,000 | 162,412 | ||||||
Pfizer, Inc. 6.20%, 3/15/2019 | 135,000 | 159,487 | ||||||
Schering-Plough Corp. 6.00%, 9/15/2017 | 305,000 | 357,081 | ||||||
Wyeth 5.95%, 4/1/2037 | 240,000 | 266,354 | ||||||
1,908,697 | ||||||||
REAL ESTATE INVESTMENT TRUSTS — 0.2% | ||||||||
Duke Realty LP 6.75%, 3/15/2020 (b) | 25,000 | 27,224 | ||||||
Simon Property Group LP 4.20%, 2/1/2015 (b) | 300,000 | 315,927 | ||||||
Vornado Realty LP 4.25%, 4/1/2015 | 100,000 | 100,714 | ||||||
443,865 | ||||||||
ROAD & RAIL — 0.3% | ||||||||
CSX Corp. 6.15%, 5/1/2037 | 165,000 | 175,058 | ||||||
Norfolk Southern Corp. 7.70%, 5/15/2017 | 330,000 | 402,129 | ||||||
Union Pacific Corp. 6.13%, 2/15/2020 | 100,000 | 114,508 | ||||||
691,695 | ||||||||
SOFTWARE — 0.2% | ||||||||
Microsoft Corp. 3.00%, 10/1/2020 | 200,000 | 188,560 | ||||||
Oracle Corp.: | ||||||||
5.75%, 4/15/2018 (b) | 200,000 | 226,603 | ||||||
6.13%, 7/8/2039 | 100,000 | 111,279 | ||||||
526,442 | ||||||||
SPECIALTY RETAIL — 0.3% | ||||||||
Staples, Inc. 9.75%, 1/15/2014 | 100,000 | 120,715 | ||||||
The Home Depot, Inc. 5.40%, 3/1/2016 | 405,000 | 449,872 | ||||||
570,587 | ||||||||
TOBACCO — 0.3% | ||||||||
Altria Group, Inc. 9.70%, 11/10/2018 | 200,000 | 262,677 | ||||||
Philip Morris International, Inc. 4.88%, 5/16/2013 | 280,000 | 302,325 | ||||||
Reynolds American, Inc. 7.63%, 6/1/2016 | 100,000 | 116,098 | ||||||
681,100 | ||||||||
WIRELESS TELECOMMUNICATION SERVICES — 0.9% | ||||||||
AT&T Corp. 8.00%, 11/15/2031 | 16,000 | 20,228 | ||||||
AT&T, Inc. 5.35%, 9/1/2040 (c) | 320,000 | 301,877 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Cellco Partnership / Verizon Wireless Capital LLC 5.55%, 2/1/2014 | $ | 100,000 | $ | 109,574 | ||||
Embarq Corp. 7.08%, 6/1/2016 | 165,000 | 182,648 | ||||||
New Cingular Wireless Services, Inc. 8.13%, 5/1/2012 | 255,000 | 278,643 | ||||||
Telecom Italia Capital 5.25%, 10/1/2015 | 200,000 | 204,499 | ||||||
Telefonica Emisiones SAU 4.95%, 1/15/2015 | 210,000 | 215,281 | ||||||
Verizon Global Funding Corp. 6.88%, 6/15/2012 | 405,000 | 438,067 | ||||||
Vodafone Group PLC 5.63%, 2/27/2017 | 240,000 | 267,254 | ||||||
2,018,071 | ||||||||
TOTAL CORPORATE BONDS & NOTES — | ||||||||
(Cost $49,890,963) | 52,614,452 | |||||||
FOREIGN GOVERNMENT OBLIGATIONS — 1.8% | ||||||||
Brazilian Government International Bond: | ||||||||
7.88%, 3/7/2015 | 100,000 | 119,150 | ||||||
11.00%, 8/17/2040 | 150,000 | 201,375 | ||||||
Export Development Canada 2.25%, 5/28/2015 | 200,000 | 202,739 | ||||||
Federal Republic of Brazil 8.25%, 1/20/2034 | 360,000 | 477,900 | ||||||
Japan Finance Corp. 1.50%, 7/6/2012 | 150,000 | 151,867 | ||||||
Panama Government International Bond: | ||||||||
5.20%, 1/30/2020 | 50,000 | 52,828 | ||||||
6.70%, 1/26/2036 | 50,000 | 55,468 | ||||||
Province of Ontario 4.95%, 6/1/2012 | 455,000 | 482,316 | ||||||
Province of Quebec 7.50%, 9/15/2029 | 455,000 | 622,387 | ||||||
Republic of Italy 5.63%, 6/15/2012 | 490,000 | 515,266 | ||||||
Republic of Peru 7.13%, 3/30/2019 | 100,000 | 119,000 | ||||||
Republic of South Africa 5.50%, 3/9/2020 | 100,000 | 106,000 | ||||||
United Mexican States 5.63%, 1/15/2017 | 880,000 | 970,420 | ||||||
TOTAL FOREIGN GOVERNMENT OBLIGATIONS — | ||||||||
(Cost $3,927,729) | 4,076,716 | |||||||
U.S. GOVERNMENT AGENCY MBS TBA — 31.9% | ||||||||
Fannie Mae | ||||||||
4.00%, 30yr TBA | 3,500,000 | 3,482,500 | ||||||
4.50%, 30yr TBA | 6,000,000 | 6,159,375 | ||||||
4.50%, 15yr TBA | 1,500,000 | 1,572,656 | ||||||
5.00%, 15yr TBA | 2,000,000 | 2,123,125 | ||||||
5.50%, 30yr TBA | 11,000,000 | 11,775,156 | ||||||
6.00%, 30yr TBA | 1,500,000 | 1,630,312 | ||||||
6.50%, 30yr TBA | 2,000,000 | 2,221,875 | ||||||
Freddie Mac | ||||||||
4.00%, 15yr TBA | 2,000,000 | 2,055,312 | ||||||
4.50%, 15yr TBA | 2,000,000 | 2,090,625 | ||||||
4.50%, 30yr TBA | 5,000,000 | 5,125,000 | ||||||
5.00%, 30yr TBA | 10,500,000 | 11,011,875 | ||||||
5.50%, 15yr TBA | 1,000,000 | 1,072,188 | ||||||
6.00%, 30yr TBA | 6,000,000 | 6,500,625 | ||||||
Ginnie Mae | ||||||||
4.00%, 30yr TBA | 500,000 | 503,594 | ||||||
4.50%, 30yr TBA | 4,800,000 | 4,984,500 | ||||||
5.00%, 30yr TBA | 3,600,000 | 3,828,375 | ||||||
5.50%, 30yr TBA | 2,200,000 | 2,379,094 | ||||||
6.00%, 30yr TBA | 1,200,000 | 1,320,000 | ||||||
6.50%, 30yr TBA | 1,000,000 | 1,127,188 | ||||||
TOTAL U.S. GOVERNMENT AGENCY MBS TBA — | ||||||||
(Cost $71,167,202) | 70,963,375 | |||||||
U.S. GOVERNMENT AGENCY OBLIGATIONS — 7.0% | ||||||||
Fannie Mae | ||||||||
2.50%, 5/15/2014 (b) | 1,435,000 | 1,487,301 | ||||||
4.00%, 1/20/2017 | 250,000 | 250,461 | ||||||
5.00%, 5/11/2017 (b) | 1,210,000 | 1,365,291 | ||||||
6.00%, 6/1/2017 | 511,070 | 554,056 | ||||||
7.13%, 1/15/2030 (b) | 525,000 | 695,867 | ||||||
Federal Farm Credit Bank | ||||||||
0.79%, 9/27/2012 | 100,000 | 99,931 | ||||||
1.88%, 12/7/2012 (b) | 775,000 | 792,469 | ||||||
Federal Home Loan Bank | ||||||||
0.50%, 8/23/2012 | 200,000 | 199,466 | ||||||
0.55%, 12/3/2012 | 200,000 | 199,470 | ||||||
0.63%, 11/23/2012 | 200,000 | 199,612 | ||||||
0.70%, 5/22/2013 | 100,000 | 99,463 | ||||||
0.80%, 11/18/2013 | 100,000 | 98,965 | ||||||
0.88%, 12/27/2013 (b) | 250,000 | 247,903 | ||||||
4.75%, 12/16/2016 (b) | 500,000 | 559,577 | ||||||
5.00%, 11/17/2017 (b) | 300,000 | 340,431 | ||||||
5.13%, 8/14/2013 (b) | 1,510,000 | 1,670,583 | ||||||
Federal Home Loan Mortgage Corp. | ||||||||
0.63%, 12/3/2012 | 100,000 | 99,660 | ||||||
1.00%, 7/26/2012 | 100,000 | 100,056 | ||||||
1.00%, 12/9/2013 | 100,000 | 99,072 | ||||||
1.30%, 7/26/2013 (b) | 100,000 | 99,946 | ||||||
1.35%, 3/28/2014 | 100,000 | 99,383 | ||||||
1.50%, 10/28/2013 | 100,000 | 99,980 | ||||||
1.75%, 6/15/2012 (b) | 600,000 | 610,539 | ||||||
4.13%, 9/27/2013 (b) | 500,000 | 540,783 | ||||||
4.38%, 7/17/2015 | 500,000 | 550,477 | ||||||
Federal National Mortgage Association | ||||||||
0.50%, 10/30/2012 | 500,000 | 498,510 | ||||||
0.88%, 12/28/2012 | 100,000 | 99,913 | ||||||
1.00%, 11/29/2013 | 100,000 | 99,068 | ||||||
1.00%, 4/25/2014 | 100,000 | 98,442 | ||||||
1.13%, 7/30/2012 | 500,000 | 504,301 | ||||||
1.13%, 10/8/2013 | 100,000 | 99,604 | ||||||
1.25%, 7/29/2013 | 100,000 | 99,962 | ||||||
1.25%, 8/23/2013 | 100,000 | 99,855 | ||||||
1.40%, 1/6/2014 | 100,000 | 99,791 | ||||||
1.50%, 11/23/2015 | 100,000 | 96,737 | ||||||
1.55%, 10/27/2015 | 100,000 | 97,119 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
2.00%, 9/30/2015 | $ | 100,000 | $ | 99,116 | ||||
2.25%, 3/28/2016 | 100,000 | 98,529 | ||||||
2.35%, 9/23/2016 | 100,000 | 98,458 | ||||||
Freddie Mac | ||||||||
2.13%, 3/23/2012 (b) | 840,000 | 857,309 | ||||||
5.00%, 4/18/2017 (b) | 723,000 | 815,433 | ||||||
Ginnie Mae 4.00%, 6/15/2040 | 246,429 | 248,679 | ||||||
Tennessee Valley Authority | ||||||||
4.75%, 8/1/2013 | 100,000 | 109,461 | ||||||
5.25%, 9/15/2039 | 200,000 | 210,978 | ||||||
TOTAL U.S. GOVERNMENT AGENCY OBLIGATIONS — | ||||||||
(Cost $15,231,210) | 15,592,007 | |||||||
U.S. TREASURY OBLIGATIONS — 33.5% | ||||||||
Treasury Bonds | ||||||||
4.38%, 5/15/2040 (b) | 2,500,000 | 2,512,700 | ||||||
4.50%, 8/15/2039 | 2,300,000 | 2,362,767 | ||||||
5.38%, 2/15/2031 (b) | 600,000 | 700,776 | ||||||
6.25%, 5/15/2030 (b) | 500,000 | 642,840 | ||||||
6.88%, 8/15/2025 (b) | 750,000 | 1,002,202 | ||||||
7.13%, 2/15/2023 (b) | 500,000 | 671,525 | ||||||
7.50%, 11/15/2016 | 515,000 | 661,914 | ||||||
8.75%, 8/15/2020 | 1,130,000 | 1,651,371 | ||||||
8.88%, 8/15/2017 | 713,000 | 990,364 | ||||||
Treasury Notes | ||||||||
0.38%, 8/31/2012 | 500,000 | 499,090 | ||||||
0.38%, 10/31/2012 (b) | 1,500,000 | 1,495,455 | ||||||
0.50%, 11/15/2013 (b) | 2,000,000 | 1,974,080 | ||||||
0.63%, 6/30/2012 (b) | 1,000,000 | 1,002,910 | ||||||
0.75%, 5/31/2012 (b) | 2,500,000 | 2,511,525 | ||||||
1.38%, 2/15/2012 | 2,000,000 | 2,022,120 | ||||||
1.38%, 5/15/2012 (b) | 4,475,000 | 4,533,354 | ||||||
1.38%, 9/15/2012 | 1,000,000 | 1,014,630 | ||||||
1.38%, 1/15/2013 (b) | 5,500,000 | 5,583,655 | ||||||
1.38%, 5/15/2013 | 300,000 | 304,353 | ||||||
1.88%, 6/30/2015 (b) | 1,750,000 | 1,756,965 | ||||||
1.88%, 9/30/2017 | 1,500,000 | 1,428,720 | ||||||
2.38%, 10/31/2014 (b) | 2,555,000 | 2,645,166 | ||||||
2.63%, 2/29/2016 | 1,500,000 | 1,539,675 | ||||||
2.63%, 8/15/2020 (b) | 2,500,000 | 2,369,775 | ||||||
2.75%, 10/31/2013 (b) | 2,565,000 | 2,696,662 | ||||||
2.75%, 11/30/2016 (b) | 4,380,000 | 4,471,367 | ||||||
2.75%, 5/31/2017 (b) | 300,000 | 303,930 | ||||||
3.13%, 8/31/2013 (b) | 3,445,000 | 3,655,214 | ||||||
3.13%, 10/31/2016 (b) | 3,655,000 | 3,812,933 | ||||||
3.13%, 5/15/2019 (b)(d) | 5,500,000 | 5,558,080 | ||||||
3.38%, 11/15/2019 (b) | 1,000,000 | 1,020,660 | ||||||
3.50%, 5/15/2020 (b) | 600,000 | 614,550 | ||||||
4.00%, 11/15/2012 (b) | 1,500,000 | 1,597,080 | ||||||
4.00%, 2/15/2014 (b) | 2,800,000 | 3,051,524 | ||||||
4.13%, 5/15/2015 (b) | 1,000,000 | 1,101,500 | ||||||
4.63%, 2/29/2012 | 1,000,000 | 1,048,720 | ||||||
4.75%, 8/15/2017 (b) | 2,425,000 | 2,750,265 | ||||||
5.13%, 5/15/2016 (b) | 810,000 | 933,347 | ||||||
TOTAL U.S. TREASURY OBLIGATIONS — | ||||||||
(Cost $73,991,629) | 74,493,764 | |||||||
COMMERCIAL MORTGAGE BACKED SECURITIES — 2.6% | ||||||||
Bank of America Commercial Mortgage, Inc. 5.66%, 6/10/2049 (e) | 250,000 | 259,331 | ||||||
Bear Stearns Commercial Mortgage Securities 4.75%, 2/13/2046 (e) | 550,000 | 579,357 | ||||||
Countrywide Commercial Mortgage Trust 5.38%, 8/12/2048 | 400,000 | 399,548 | ||||||
GE Capital Commercial Mortgage Corp. 5.54%, 12/10/2049 | 400,000 | 412,011 | ||||||
Greenwich Capital Commercial Funding Corp. 4.80%, 8/10/2042 (e) | 250,000 | 262,868 | ||||||
GS Mortgage Securities Corp. II: | ||||||||
5.40%, 8/10/2038 (e) | 250,000 | 268,188 | ||||||
5.55%, 4/10/2038 (e) | 250,000 | 267,488 | ||||||
JPMorgan Chase Commercial Mortgage Securities Corp.: | ||||||||
4.87%, 3/15/2046 | 250,000 | 257,636 | ||||||
4.88%, 1/12/2038 (e) | 250,000 | 264,635 | ||||||
5.44%, 6/12/2047 | 510,000 | 530,646 | ||||||
5.81%, 6/12/2043 (e) | 500,000 | 534,978 | ||||||
LB-UBS Commercial Mortgage Trust: | ||||||||
4.37%, 3/15/2036 | 450,000 | 463,980 | ||||||
5.11%, 6/15/2029 (e) | 250,000 | 258,960 | ||||||
Morgan Stanley Capital I: | ||||||||
5.51%, 11/12/2049 (e) | 475,000 | 508,944 | ||||||
5.61%, 4/15/2049 | 205,000 | 211,328 | ||||||
Wachovia Bank Commercial Mortgage Trust 4.96%, 11/15/2035 (e) | 250,000 | 266,189 | ||||||
�� | ||||||||
TOTAL COMMERCIAL MORTGAGE BACKED SECURITIES — | ||||||||
(Cost $4,553,338) | 5,746,087 | |||||||
ASSET BACKED — 0.4% | ||||||||
AUTOMOBILES — 0.0% (a) | ||||||||
USAA Auto Owner Trust 2.53%, 7/15/2015 | 40,000 | 41,084 | ||||||
CREDIT CARD RECEIVABLES — 0.4% | ||||||||
Capital One Multi-Asset Execution Trust 5.05%, 2/15/2016 | 245,000 | 264,868 | ||||||
Citibank Credit Card Issuance Trust:: | ||||||||
4.90%, 6/23/2016 | 200,000 | 219,490 | ||||||
5.35%, 2/7/2020 | 295,000 | 330,819 | ||||||
815,177 | ||||||||
TOTAL ASSET BACKED — | ||||||||
(Cost $784,900) | 856,261 | |||||||
MUNICIPAL BONDS & NOTES — 0.8% | ||||||||
CALIFORNIA — 0.1% | ||||||||
California, State General Obligation: | ||||||||
5.95%, 4/1/2016 | 35,000 | 36,691 | ||||||
7.30%, 10/1/2039 | 200,000 | 201,420 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
San Francisco, CA, City & County Public Utilities Commission, Water Revenue 6.00%, 11/1/2040 | $ | 50,000 | $ | 47,552 | ||||
285,663 | ||||||||
CONNECTICUT — 0.1% | ||||||||
State of Connecticut 5.09%, 10/1/2030 | 100,000 | 94,479 | ||||||
GEORGIA — 0.1% | ||||||||
Georgia, State General Obligation 4.50%, 11/1/2025 | 200,000 | 197,366 | ||||||
ILLINOIS — 0.1% | ||||||||
Illinois, State General Obligation: | ||||||||
4.07%, 1/1/2014 | 100,000 | 100,674 | ||||||
5.10%, 6/1/2033 | 200,000 | 149,634 | ||||||
250,308 | ||||||||
MASSACHUSETTS — 0.0% (a) | ||||||||
Massachusetts, State General Obligation 4.91%, 5/1/2029 | 100,000 | 93,244 | ||||||
NEW JERSEY — 0.1% | ||||||||
New Jersey, State Transportation Trust Revenue 6.10%, 12/15/2028 | 100,000 | 97,648 | ||||||
Rutgers University, Revenue 5.67%, 5/1/2040 | 80,000 | 79,403 | ||||||
177,051 | ||||||||
NEW YORK — 0.1% | ||||||||
New York, NY, City Municipal Water Finance Authority, Water & Sewer System Revenue 5.72%, 6/15/2042 | 65,000 | 62,675 | ||||||
New York, NY, City Transitional Finance Authority Revenue 5.51%, 8/1/2037 | 100,000 | 96,275 | ||||||
New York, NY, General Obligation 5.52%, 10/1/2037 | 85,000 | 78,585 | ||||||
237,535 | ||||||||
OHIO — 0.0% (a) | ||||||||
Ohio State University 4.91%, 6/1/2040 | 100,000 | 90,535 | ||||||
PENNSYLVANIA — 0.1% | ||||||||
Pennsylvania, Public School Building Authority Revenue 5.00%, 9/15/2027 | 100,000 | 90,244 | ||||||
Pennsylvania, Turnpike Commission Revenue 5.51%, 12/1/2045 | 75,000 | 66,500 | ||||||
156,744 | ||||||||
TEXAS — 0.1% | ||||||||
Texas, State Transportation Commission, Revenue Series B 5.18%, 4/1/2030 | 100,000 | 99,066 | ||||||
TOTAL MUNICIPAL BONDS & NOTES — | ||||||||
(Cost $1,770,725) | 1,681,991 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENTS — 50.9% | ||||||||
MONEY MARKET FUNDS — 50.9% | ||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(f)(g) | 68,173,639 | 68,173,639 | ||||||
State Street Navigator Securities Lending Prime Portfolio (f)(h) | 45,119,436 | 45,119,436 | ||||||
TOTAL SHORT TERM INVESTMENTS — (i) | ||||||||
(Cost $113,293,075) | 113,293,075 | |||||||
TOTAL INVESTMENTS — 152.6% (j) | ||||||||
(Cost $334,610,771) | 339,317,728 | |||||||
OTHER ASSETS & LIABILITIES — (52.6)% | (116,959,187 | ) | ||||||
NET ASSETS — 100.0% | $ | 222,358,541 | ||||||
(a) | Amount shown represents less than 0.05% of net assets. | |||||
(b) | Security, or portion thereof, was on loan as of December 31, 2010. | |||||
(c) | Securities purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.5% of net assets as of December 31, 2010, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||
(d) | Security or a portion thereof, has been designated as collateral for TBA securities. | |||||
(e) | Variable Rate Security. Rate shown is rate in effect at December 31, 2010. Maturity date disclosed is the ultimate maturity. | |||||
(f) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(g) | The rate shown is the annualized seven-day yield at period end. | |||||
(h) | Investments of cash collateral for securities loaned. | |||||
(i) | Value determined based on Level 1 inputs. (Note 2) | |||||
(j) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
TBA = To Be Announced
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
MUNICIPAL BONDS & NOTES — 99.4% | ||||||||
ALABAMA — 0.4% | ||||||||
Alabama, Auburn University, General Fee Revenue 5.00%, 6/1/2038 (a) | $ | 2,200,000 | $ | 2,170,806 | ||||
Alabama, Public School & College Authority 5.00%, 12/1/2023 | 1,500,000 | 1,576,740 | ||||||
3,747,546 | ||||||||
ALASKA — 0.3% | ||||||||
Alaska, State General Obligation Series A 5.00%, 8/1/2024 | 2,580,000 | 2,779,176 | ||||||
ARIZONA — 3.3% | ||||||||
Arizona, Salt River Project, Agricultural Improvement & Power District: | ||||||||
Series A 5.00%, 1/1/2016 | 500,000 | 572,415 | ||||||
Series A 5.00%, 1/1/2027 | 2,500,000 | 2,593,975 | ||||||
Series A 5.00%, 1/1/2033 | 5,000,000 | 4,993,350 | ||||||
Arizona, State Transportation Board, Excise Tax Revenue 5.00%, 7/1/2021 | 1,500,000 | 1,608,885 | ||||||
Arizona, State Transportation Board, Highway Revenue Series A 5.00%, 7/1/2028 | 7,145,000 | 7,337,986 | ||||||
Chandler, AZ, General Obligation 4.25%, 7/1/2026 | 5,000,000 | 4,856,200 | ||||||
Maricopa County, AZ, Community College District, General Obligation Series C 3.00%, 7/1/2022 | 2,000,000 | 1,853,920 | ||||||
Phoenix, AZ, Civic Improvement Corp., Wastewater System Revenue, Senior Lien 5.50%, 7/1/2019 | 1,000,000 | 1,144,920 | ||||||
Phoenix, AZ, General Obligation Series A 5.00%, 7/1/2017 | 1,000,000 | 1,147,600 | ||||||
Pima County, AZ, Industrial Development Authority, Lease Revenue 5.00%, 9/1/2039 | 2,000,000 | 1,794,220 | ||||||
27,903,471 | ||||||||
CALIFORNIA — 11.5% | ||||||||
Anaheim, CA, Public Financing Authority, Revenue 4.50%, 10/1/2037 (a) | 4,000,000 | 3,352,000 | ||||||
Azusa, CA, Public Financing Authority, Revenue 5.00%, 7/1/2039 (a) | 1,200,000 | 1,140,612 | ||||||
California, State Department of Water Resources, Revenue: | ||||||||
Series L 5.00%, 5/1/2020 | 10,000,000 | 11,083,200 | ||||||
Series AG 5.00%, 12/1/2025 | 5,760,000 | 6,103,584 | ||||||
California, State University Revenue: | ||||||||
Series D 4.50%, 11/1/2037 | 3,120,000 | 2,636,650 | ||||||
Series A 4.50%, 11/1/2044 (a) | 6,090,000 | 5,080,156 | ||||||
Series A 5.00%, 11/1/2037 (a) | 1,000,000 | 953,110 | ||||||
Eastern Municipal Water District, CA, Water & Sewer Revenue Series H 5.00%, 7/1/2033 | 4,035,000 | 3,939,169 | ||||||
Foothill-De Anza, CA, Community College District, General Obligation Series B 5.00%, 8/1/2027 (a) | 4,475,000 | 4,608,623 | ||||||
Los Angeles, CA, Community College District, General Obligation: | ||||||||
Series A 5.00%, 8/1/2027 | 1,000,000 | 1,007,200 | ||||||
Series A 5.00%, 8/1/2032 | 1,345,000 | 1,306,910 | ||||||
Los Angeles, CA, Unified School District: | ||||||||
Series B 4.75%, 7/1/2019 (a) | 3,485,000 | 3,681,206 | ||||||
Series B 5.00%, 7/1/2016 | 1,500,000 | 1,696,965 | ||||||
5.00%, 7/1/2018 | 330,000 | 366,260 | ||||||
Series A 5.00%, 7/1/2018 (a) | 1,100,000 | 1,194,325 | ||||||
Series H 5.00%, 7/1/2021 (a) | 2,695,000 | 2,833,523 | ||||||
Los Angeles, CA, Wastewater System Revenue Series A 5.00%, 6/1/2029 | 1,000,000 | 1,006,090 | ||||||
Metropolitan Water District of Southern California, Waterworks Revenue Series A 5.00%, 1/1/2029 | 4,900,000 | 5,010,054 | ||||||
Palomar, CA, Community College District Series A 4.75%, 5/1/2032 | 3,000,000 | 2,677,350 | ||||||
San Diego, CA, Unified School District Series A Zero Coupon, 7/1/2025 | 485,000 | 207,687 | ||||||
San Diego, CA, Unified School District Election of 1998 Series G-1 4.50%, 7/1/2029 (a) | 5,000,000 | 4,548,950 | ||||||
San Diego, CA, Unified School District Election of 2008 Series A Zero Coupon, 7/1/2028 | 2,000,000 | 673,640 | ||||||
San Francisco, CA, Bay Area Rapid Transit District: | ||||||||
Series B 5.00%, 8/1/2022 | 1,500,000 | 1,619,160 | ||||||
Series B 5.00%, 8/1/2032 | 1,600,000 | 1,620,496 | ||||||
San Francisco, CA, Bay Area Toll Authority, Toll Bridge Revenue: | ||||||||
Series F 5.00%, 4/1/2031 | 7,275,000 | 7,192,283 | ||||||
5.13%, 4/1/2047 | 655,000 | 632,481 | ||||||
San Francisco, CA, City & County Public Utilities Commission, Water Revenue: | ||||||||
Series A 4.50%, 11/1/2031 (a) | 1,000,000 | 887,840 | ||||||
Series A 4.75%, 11/1/2036 (a) | 3,000,000 | 2,695,710 | ||||||
5.00%, 6/15/2027 | 500,000 | 504,545 | ||||||
San Francisco, CA, Community College District Series B 5.00%, 6/15/2028 (a) | 5,225,000 | 5,320,722 | ||||||
San Francisco, CA, Unified School District Series A 3.00%, 6/15/2027 | 1,000,000 | 751,360 | ||||||
University of California, Revenue: | ||||||||
Series J 4.50%, 5/15/2031 (a) | 4,305,000 | 3,826,628 | ||||||
Series J 4.50%, 5/15/2035 (a) | 3,000,000 | 2,570,640 | ||||||
Series B 5.00%, 5/15/2021 | 1,200,000 | 1,330,008 | ||||||
Series S 5.00%, 5/15/2040 | 1,000,000 | 964,160 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
University of Southern California, Educational Facilities Authority, Revenue Series A 4.50%, 10/1/2033 | $ | 1,000,000 | $ | 865,830 | ||||
West Valley-Mission Community College District, CA, Election 2004-A 5.00%, 8/1/2030 (a) | 2,000,000 | 2,019,280 | ||||||
97,908,407 | ||||||||
COLORADO — 0.6% | ||||||||
Douglas County, CO, School District Series B 5.00%, 12/15/2019 | 2,000,000 | 2,335,900 | ||||||
Platte River, CO, Power Authority Revenue: | ||||||||
Series HH 5.00%, 6/1/2024 | 1,255,000 | 1,334,580 | ||||||
Series HH 5.00%, 6/1/2029 | 1,000,000 | 1,024,080 | ||||||
4,694,560 | ||||||||
CONNECTICUT — 2.7% | ||||||||
Connecticut, State General Obligation: | ||||||||
Series A 4.50%, 5/1/2026 | 1,000,000 | 1,017,010 | ||||||
Series B 5.00%, 4/15/2012 | 5,000,000 | 5,279,550 | ||||||
5.00%, 12/1/2020 | 7,500,000 | 8,384,625 | ||||||
5.00%, 12/1/2021 | 7,500,000 | 8,275,650 | ||||||
22,956,835 | ||||||||
DELAWARE — 0.4% | ||||||||
Delaware, State General Obligation 5.00%, 3/1/2013 | 1,000,000 | 1,090,020 | ||||||
New Castle County, DE, General Obligation Series A 5.00%, 7/15/2039 | 2,500,000 | 2,542,300 | ||||||
3,632,320 | ||||||||
DISTRICT OF COLUMBIA — 1.2% | ||||||||
District of Columbia, Water & Sewer Authority, Public Utility Revenue Series A 5.50%, 10/1/2039 | 5,000,000 | 5,217,050 | ||||||
Metropolitan Washington, DC, Airports Authority System Series C 5.00%, 10/1/2028 | 5,000,000 | 5,009,150 | ||||||
10,226,200 | ||||||||
FLORIDA — 5.3% | ||||||||
Broward County Educational Facilities Authority 5.00%, 4/1/2036 | 1,200,000 | 1,094,160 | ||||||
Florida Hurricane Catastrophe Fund Finance Corp. Series A 5.00%, 7/1/2014 | 1,045,000 | 1,114,451 | ||||||
Florida Water Pollution Control Financing Corp. Series A 5.00%, 7/15/2013 | 2,575,000 | 2,816,561 | ||||||
Florida, State Board of Education, Capital Outlay: | ||||||||
Series B 5.00%, 6/1/2015 | 2,600,000 | 2,937,870 | ||||||
Series A 5.00%, 6/1/2016 | 1,215,000 | 1,388,794 | ||||||
Series A 5.00%, 6/1/2017 | 5,000,000 | 5,706,900 | ||||||
Series D 5.00%, 6/1/2024 | 7,550,000 | 8,093,902 | ||||||
Florida, State Board of Education, General Obligation: | ||||||||
5.00%, 6/1/2037 | 1,000,000 | 991,260 | ||||||
Series B 5.25%, 6/1/2013 | 2,000,000 | 2,196,480 | ||||||
JEA, FL, Bulk Power Supply System Revenue, Scherer 4 Project Series A 5.63%, 10/1/2033 | 5,000,000 | 5,199,500 | ||||||
Miami-Dade County, FL, General Obligation: | ||||||||
4.75%, 7/1/2034 | 1,675,000 | 1,522,407 | ||||||
5.00%, 10/1/2023 (a) | 500,000 | 509,275 | ||||||
5.00%, 7/1/2031 | 1,980,000 | 1,950,042 | ||||||
6.00%, 10/1/2023 | 1,270,000 | 1,438,440 | ||||||
Miami-Dade County, FL, School Board General Obligation Series B 4.00%, 5/1/2017 | 1,000,000 | 1,044,960 | ||||||
Orlando Utilities Commission 5.00%, 10/1/2029 | 1,400,000 | 1,426,404 | ||||||
Palm Beach County, FL, Public Improvement Revenue 5.00%, 5/1/2038 | 5,000,000 | 5,014,850 | ||||||
Polk County, FL, School District 5.00%, 10/1/2011 | 1,000,000 | 1,029,890 | ||||||
45,476,146 | ||||||||
GEORGIA — 3.2% | ||||||||
Atlanta, GA, Metropolitan Rapid Transit Authority, Sales Tax Revenue Series B 5.00%, 7/1/2037 (a) | 6,875,000 | 6,765,825 | ||||||
Augusta, GA, Water & Sewer Revenue 5.00%, 10/1/2014 (a) | 1,085,000 | 1,210,806 | ||||||
De Kalb County, GA, General Obligation 5.00%, 12/1/2014 | 1,495,000 | 1,689,709 | ||||||
De Kalb County, GA, Water & Sewer Revenue Series B 5.25%, 10/1/2024 | 3,000,000 | 3,356,100 | ||||||
Georgia, State General Obligation: | ||||||||
Series B 5.00%, 4/1/2012 | 2,000,000 | 2,110,480 | ||||||
Series B 5.00%, 7/1/2022 | 4,500,000 | 4,963,095 | ||||||
Series B 5.00%, 7/1/2024 | 1,145,000 | 1,240,802 | ||||||
Gwinnett County, GA, School District, General Obligation 5.00%, 2/1/2019 | 5,380,000 | 6,225,521 | ||||||
27,562,338 | ||||||||
HAWAII — 0.9% | ||||||||
Hawaii, State General Obligation: | ||||||||
Series DJ 5.00%, 4/1/2023 (a) | 900,000 | 959,949 | ||||||
Series DI 5.00%, 3/1/2025 (a) | 5,000,000 | 5,259,150 | ||||||
Honolulu, HI, City & County General Obligation Series A 5.00%, 7/1/2029 (a) | 1,500,000 | 1,535,865 | ||||||
7,754,964 | ||||||||
ILLINOIS — 4.0% | ||||||||
Chicago, IL, General Obligation Series A 5.25%, 1/1/2037 | 5,000,000 | 4,561,750 |
See accompanying notes to financial statements.
94
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SPDR Nuveen Barclays Capital Municipal Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Chicago, IL, Metropolitan Water Reclamation District: | ||||||||
Series A 5.00%, 12/1/2020 | $ | 1,000,000 | $ | 1,100,860 | ||||
Series C 5.25%, 12/1/2032 | 5,000,000 | 5,118,000 | ||||||
Chicago, IL, O’Hare International Airport Revenue Series A 5.00%, 1/1/2038 (a) | 1,500,000 | 1,381,830 | ||||||
Chicago, IL, Water Revenue 5.25%, 11/1/2038 | 2,500,000 | 2,360,350 | ||||||
County of Cook IL 5.25%, 11/15/2033 | 8,520,000 | 8,309,045 | ||||||
Illinois State Toll Highway Authority 5.00%, 1/1/2028 | 1,300,000 | 1,252,433 | ||||||
Illinois, Finance Authority Revenue, University of Chicago Series B 6.25%, 7/1/2038 | 5,000,000 | 5,363,800 | ||||||
Illinois, State General Obligation 5.00%, 1/1/2015 | 955,000 | 1,004,984 | ||||||
Kendall, Kane, & Will Counties, IL, School District No. 308, General Obligation Zero Coupon, 2/1/2022 (a) | 5,000,000 | 2,841,350 | ||||||
Southwestern, IL, Development Authority Revenue Zero Coupon, 12/1/2021 (a) | 1,125,000 | 657,225 | ||||||
33,951,627 | ||||||||
INDIANA — 1.7% | ||||||||
Indiana, State Finance Authority, Highway Revenue: | ||||||||
Series A 4.50%, 12/1/2020 (a) | 1,000,000 | 1,036,690 | ||||||
Series A 4.50%, 6/1/2027 (a) | 9,000,000 | 8,765,280 | ||||||
Indiana, State Finance Authority, Lease Revenue Series A-1 5.00%, 11/1/2015 | 3,000,000 | 3,318,480 | ||||||
Indiana, State Finance Authority, State Revolving Fund Program Revenue Series B 5.00%, 2/1/2018 | 1,535,000 | 1,733,307 | ||||||
14,853,757 | ||||||||
KANSAS — 0.2% | ||||||||
Kansas, State Department of Transportation, Highway Revenue Series A 5.00%, 9/1/2011 | 2,000,000 | 2,060,840 | ||||||
KENTUCKY — 0.3% | ||||||||
Kentucky, State Property & Buildings Commission 5.00%, 11/1/2018 | 1,000,000 | 1,114,130 | ||||||
Kentucky, State Turnpike Authority, Economic Recovery Series B 4.50%, 7/1/2023 | 1,285,000 | 1,305,611 | ||||||
2,419,741 | ||||||||
LOUISIANA — 0.3% | ||||||||
Louisiana, State Gas & Fuels Tax Revenue: | ||||||||
Series A 4.50%, 5/1/2041 | 1,500,000 | 1,312,350 | ||||||
Series B 5.00%, 5/1/2025 | 1,000,000 | 1,050,100 | ||||||
2,362,450 | ||||||||
MARYLAND — 1.5% | ||||||||
Howard County, MD, General Obligation Series B 5.00%, 8/15/2017 | 4,745,000 | 5,558,198 | ||||||
Maryland, State Department of Transportation, Highway Revenue 5.00%, 2/15/2017 | 1,925,000 | 2,226,821 | ||||||
Maryland, State Department of Transportation, Revenue 5.00%, 2/15/2015 | 1,500,000 | 1,698,915 | ||||||
Maryland, State General Obligation Series C 5.00%, 3/1/2017 | 2,900,000 | 3,381,342 | ||||||
12,865,276 | ||||||||
MASSACHUSETTS — 2.5% | ||||||||
Commonwealth of Massachusetts 5.00%, 3/1/2025 | 965,000 | 1,028,082 | ||||||
Massachusetts School Building Authority Series A 4.35%, 8/15/2025 | 3,580,000 | 3,579,857 | ||||||
Massachusetts, Bay Transportation Authority, Sales Tax Revenue Series A 5.25%, 7/1/2029 | 1,070,000 | 1,132,627 | ||||||
Massachusetts, State General Obligation: | ||||||||
Series C 3.00%, 1/1/2014 | 4,130,000 | 4,333,939 | ||||||
Series B 5.25%, 9/1/2024 (a) | 5,000,000 | 5,602,000 | ||||||
Massachusetts, State Health & Educational Facilities Authority, Revenue Series A 5.50%, 11/15/2036 | 2,000,000 | 2,125,640 | ||||||
Massachusetts, State Water Pollution Abatement Trust: | ||||||||
3.50%, 8/1/2026 | 1,200,000 | 1,096,932 | ||||||
5.25%, 8/1/2033 | 2,000,000 | 2,137,480 | ||||||
21,036,557 | ||||||||
MICHIGAN — 1.0% | ||||||||
Michigan, Municipal Bond Authority Revenue: | ||||||||
4.63%, 10/1/2025 | 3,000,000 | 3,066,900 | ||||||
5.00%, 10/1/2022 | 1,700,000 | 1,805,111 | ||||||
5.00%, 10/1/2029 | 2,905,000 | 2,960,892 | ||||||
State of Michigan 5.25%, 9/15/2021 | 450,000 | 480,546 | ||||||
8,313,449 | ||||||||
MINNESOTA — 1.0% | ||||||||
Minnesota, State General Obligation: | ||||||||
5.00%, 6/1/2015 | 1,820,000 | 2,084,701 | ||||||
5.00%, 11/1/2016 | 1,820,000 | 2,122,975 | ||||||
5.00%, 6/1/2018 | 1,940,000 | 2,190,047 | ||||||
Series D 5.00%, 8/1/2018 | 2,000,000 | 2,327,960 | ||||||
8,725,683 | ||||||||
MISSISSIPPI — 0.1% | ||||||||
Mississippi, State General Obligation Series B 5.00%, 12/1/2013 | 1,000,000 | 1,109,390 | ||||||
MISSOURI — 1.3% | ||||||||
Missouri, State Highways & Transit Commission, State Road Revenue, First Lien Series B 5.00%, 5/1/2024 | 5,000,000 | 5,346,050 |
See accompanying notes to financial statements.
95
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Missouri, State Highways & Transit Commission, State Road Revenue, Second Lien: | ||||||||
5.25%, 5/1/2019 | $ | 4,000,000 | $ | 4,571,520 | ||||
5.25%, 5/1/2020 | 1,000,000 | 1,127,430 | ||||||
11,045,000 | ||||||||
NEBRASKA — 0.6% | ||||||||
Omaha, NE, Public Power District Series A 5.00%, 2/1/2039 | 5,000,000 | 5,019,550 | ||||||
NEVADA — 1.0% | ||||||||
Clark County, NV, General Obligation: | ||||||||
4.50%, 6/1/2018 (a) | 1,475,000 | 1,558,190 | ||||||
4.75%, 6/1/2025 (a) | 1,735,000 | 1,715,325 | ||||||
5.00%, 11/1/2020 (a) | 1,000,000 | 1,057,280 | ||||||
Clark County, NV, School District, General Obligation Series B 4.50%, 6/15/2016 (a) | 1,010,000 | 1,107,899 | ||||||
Las Vegas Valley, NV, Water District, General Obligation Series B 5.00%, 6/1/2015 | 1,500,000 | 1,672,065 | ||||||
Nevada, State Highway Improvement Revenue 5.00%, 12/1/2017 (a) | 1,000,000 | 1,104,060 | ||||||
8,214,819 | ||||||||
NEW JERSEY — 3.8% | ||||||||
New Jersey Environmental Infrastructure Trust: | ||||||||
Series A 4.00%, 9/1/2022 | 3,200,000 | 3,280,544 | ||||||
4.00%, 9/1/2027 | 2,520,000 | 2,388,431 | ||||||
New Jersey, State Economic Development Authority School Facilities Construction: | ||||||||
Series DD-1 5.00%, 12/15/2016 | 2,000,000 | 2,208,240 | ||||||
Series DD-1 5.00%, 12/15/2017 | 5,500,000 | 6,018,815 | ||||||
New Jersey, State General Obligation: | ||||||||
5.00%, 6/15/2017 | 1,020,000 | 1,087,555 | ||||||
5.00%, 6/1/2019 | 9,565,000 | 10,719,974 | ||||||
New Jersey, State Higher Education Assistance Authority Revenue Series 1A 5.00%, 12/1/2017 | 1,410,000 | 1,511,872 | ||||||
New Jersey, State Transportation Trust Fund Authority Series A Zero Coupon, 12/15/2034 | 20,000,000 | 4,099,200 | ||||||
New Jersey, State Transportation Trust Fund Authority (Escrow to Maturity) Series C Zero Coupon, 12/15/2029 (a) | 2,585,000 | 762,032 | ||||||
32,076,663 | ||||||||
NEW MEXICO — 1.4% | ||||||||
Albuquerque, NM, Municipal School District, General Obligation Series A 4.00%, 8/1/2022 | 6,650,000 | 6,741,504 | ||||||
New Mexico, Severance Tax Series A-1 4.00%, 7/1/2014 | 2,000,000 | 2,132,340 | ||||||
New Mexico, State Finance Authority 5.00%, 6/15/2017 | 3,000,000 | 3,474,750 | ||||||
12,348,594 | ||||||||
NEW YORK — 16.9% | ||||||||
City of New York, NY 2.00%, 8/1/2012 | 915,000 | 932,266 | ||||||
Erie County, NY, Fiscal Stability Authority Sales Tax Revenue Series A 5.00%, 5/15/2020 | 1,000,000 | 1,117,970 | ||||||
Erie County, NY, Industrial Development Agency Revenue: | ||||||||
Series A 5.75%, 5/1/2019 (a) | 1,500,000 | 1,752,105 | ||||||
Series A 5.75%, 5/1/2021 (a) | 3,000,000 | 3,372,450 | ||||||
Nassau County, NY, Sewer & Storm Water Finance Authority System, Revenue Series A 5.38%, 11/1/2028 | 1,275,000 | 1,359,915 | ||||||
New York & New Jersey Port Authority Revenue: | ||||||||
4.25%, 7/15/2040 | 1,000,000 | 851,310 | ||||||
4.50%, 7/15/2027 | 1,350,000 | 1,339,106 | ||||||
5.00%, 7/15/2039 | 4,500,000 | 4,486,365 | ||||||
New York & New Jersey, Port Authority Revenue: | ||||||||
156th Series 4.75%, 11/1/2036 | 7,000,000 | 6,708,170 | ||||||
144th Series 5.00%, 10/1/2028 | 3,000,000 | 3,125,730 | ||||||
New York, NY, City Municipal Water Finance Authority: | ||||||||
4.50%, 6/15/2032 | 1,000,000 | 919,830 | ||||||
Series DD 4.50%, 6/15/2038 | 2,310,000 | 2,084,336 | ||||||
Series DD 4.63%, 6/15/2031 | 1,030,000 | 969,549 | ||||||
Series C 4.75%, 6/15/2033 | — | — | ||||||
5.00%, 6/15/2027 | 545,000 | 562,800 | ||||||
Series A 5.00%, 6/15/2038 | 1,000,000 | 980,940 | ||||||
Series A 5.50%, 6/15/2021 | 500,000 | 567,480 | ||||||
New York, NY, City Transitional Finance Authority: | ||||||||
Series B 5.00%, 11/1/2014 | 1,050,000 | 1,179,749 | ||||||
Series B 5.00%, 11/1/2016 | 1,000,000 | 1,149,250 | ||||||
5.00%, 11/1/2020 | 1,000,000 | 1,111,360 | ||||||
Series C-1 5.00%, 11/1/2020 | 900,000 | 982,971 | ||||||
5.00%, 5/1/2023 | 865,000 | 927,574 | ||||||
Series B 5.00%, 11/1/2026 | 10,000,000 | 10,372,100 | ||||||
New York, NY, General Obligation: | ||||||||
Series C-1 5.00%, 10/1/2012 | 1,400,000 | 1,499,806 | ||||||
Series C 5.00%, 8/1/2015 | 5,000,000 | 5,621,950 | ||||||
Series C 5.00%, 11/15/2016 | 5,000,000 | 5,780,650 | ||||||
Series B-1 5.25%, 9/1/2023 | 7,180,000 | 7,688,200 | ||||||
New York, NY, Liberty Development Corp.: | ||||||||
5.13%, 1/15/2044 | 5,750,000 | 5,456,635 | ||||||
5.63%, 1/15/2046 | 1,000,000 | 1,008,070 | ||||||
New York, NY, Triborough Bridge & Tunnel Authority Revenue Series A-2 5.00%, 11/15/2029 | 12,620,000 | 12,982,699 | ||||||
New York, State Dormitory Authority Revenue Series A 5.00%, 7/1/2038 | 3,350,000 | 3,295,864 | ||||||
New York, State Dormitory Authority, State Income Tax Revenue: | ||||||||
Series D 5.00%, 3/15/2016 | 1,800,000 | 2,050,812 | ||||||
5.00%, 7/1/2021 | 700,000 | 771,673 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
5.00%, 2/15/2029 | $ | 750,000 | $ | 764,483 | ||||
New York, State Environmental Facilities Corp.: | ||||||||
Series A 4.50%, 6/15/2036 | 1,500,000 | 1,425,795 | ||||||
4.50%, 6/15/2036 | 4,370,000 | 4,010,174 | ||||||
Series A 5.13%, 6/15/2038 | 1,000,000 | 1,010,550 | ||||||
New York, State General Obligation: | ||||||||
3.00%, 3/1/2017 | 4,255,000 | 4,395,287 | ||||||
4.00%, 3/1/2018 | 1,030,000 | 1,114,481 | ||||||
New York, State Housing Finance Agency, Personal Income Tax Revenue Series A 5.00%, 3/15/2039 | 2,760,000 | 2,743,274 | ||||||
New York, State Local Government Assistance Corp. Series A 5.00%, 4/1/2020 | 3,000,000 | 3,331,980 | ||||||
New York, State Thruway Authority, Personal Income Tax Revenue: | ||||||||
5.00%, 3/15/2022 | 6,510,000 | 7,121,614 | ||||||
Series A 5.00%, 3/15/2028 | 2,000,000 | 2,048,620 | ||||||
Series A 5.00%, 3/15/2029 | 2,000,000 | 2,038,920 | ||||||
New York, State Thruway Authority, Second General Highway & Bridge Trust Fund: | ||||||||
Series B 5.00%, 4/1/2019 | 5,400,000 | 5,960,088 | ||||||
Series A 5.00%, 4/1/2020 (a) | 3,000,000 | 3,197,280 | ||||||
Series A 5.00%, 4/1/2021 | 500,000 | 538,290 | ||||||
New York, State Urban Development Corp., Revenue: | ||||||||
Series B 3.63%, 3/15/2012 | 710,000 | 736,213 | ||||||
Series A-1 5.00%, 12/15/2016 | 2,630,000 | 3,046,145 | ||||||
Series B 5.00%, 3/15/2020 | 3,000,000 | 3,271,170 | ||||||
Series B-1 5.00%, 3/15/2036 | 1,000,000 | 997,080 | ||||||
Oyster Bay, N Y, General Obligation 4.00%, 8/15/2026 | 3,910,000 | 3,820,969 | ||||||
144,582,098 | ||||||||
NORTH CAROLINA — 2.1% | ||||||||
Charlotte, NC, Water & Sewer System Revenue 5.00%, 7/1/2038 | 3,000,000 | 3,058,140 | ||||||
City of Charlotte NC 5.00%, 6/1/2022 | 475,000 | 527,944 | ||||||
Mecklenburg County, NC, General Obligation: | ||||||||
Series A 4.00%, 8/1/2015 | 3,135,000 | 3,465,429 | ||||||
Series A 5.00%, 8/1/2015 | 1,000,000 | 1,149,320 | ||||||
North Carolina, Infrastructure Finance Corp., Certificates of Participation Series A 5.00%, 2/1/2020 (a) | 1,275,000 | 1,375,878 | ||||||
North Carolina, State Capital Improvement Obligation Series A 4.50%, 5/1/2026 | 4,500,000 | 4,484,925 | ||||||
University of North Carolina, Chapel Hill 5.00%, 12/1/2031 | 3,640,000 | 3,705,738 | ||||||
17,767,374 | ||||||||
OHIO — 3.1% | ||||||||
Columbus, OH, General Obligation: | ||||||||
Series A 4.00%, 6/1/2014 | 10,000,000 | 10,861,600 | ||||||
Series A 5.00%, 9/1/2018 | 1,500,000 | 1,703,940 | ||||||
Ohio, State Common Schools, General Obligation Series C 5.00%, 9/15/2015 | 5,000,000 | 5,697,700 | ||||||
Ohio, State General Obligation 5.00%, 8/1/2021 | 4,885,000 | 5,459,036 | ||||||
Ohio, University of Akron, General Receipts: | ||||||||
Series A 5.00%, 1/1/2033 (a) | 1,000,000 | 952,580 | ||||||
Series B 5.25%, 1/1/2023 (a) | 1,970,000 | 2,094,150 | ||||||
26,769,006 | ||||||||
OKLAHOMA — 0.1% | ||||||||
Tulsa County, OK, Industrial Authority 5.50%, 9/1/2016 | 535,000 | 618,835 | ||||||
OREGON — 1.2% | ||||||||
Oregon, State Department of Transportation Revenue: | ||||||||
Series C 5.00%, 11/15/2015 | 1,500,000 | 1,724,685 | ||||||
Series A 5.00%, 11/15/2033 | 1,500,000 | 1,518,315 | ||||||
Portland, OR, Sewer System Revenue Series A 5.00%, 6/1/2015 (a) | 1,730,000 | 1,970,522 | ||||||
Salem-Keizer, OR, School District No. 24J, General Obligation: | ||||||||
Series B Zero Coupon, 6/15/2021 | 2,010,000 | 1,266,702 | ||||||
Series B Zero Coupon, 6/15/2028 | 9,745,000 | 3,906,088 | ||||||
10,386,312 | ||||||||
PENNSYLVANIA — 3.2% | ||||||||
Central Bucks, PA, School District 5.00%, 5/15/2023 | 2,500,000 | 2,695,950 | ||||||
City of Philadelphia PA Series A 5.00%, 8/1/2018 | 1,870,000 | 2,012,886 | ||||||
Pennsylvania, Commonwealth Financing Authority, Revenue Series A 5.00%, 6/1/2025 (a) | 1,925,000 | 1,979,959 | ||||||
Pennsylvania, State General Obligation: | ||||||||
Series A 4.50%, 11/1/2021 | 1,390,000 | 1,471,051 | ||||||
Series A 5.00%, 11/1/2013 | 1,000,000 | 1,108,070 | ||||||
5.00%, 3/15/2015 | 4,750,000 | 5,392,200 | ||||||
5.00%, 5/15/2015 | 1,000,000 | 1,139,030 | ||||||
5.00%, 7/1/2015 | 5,000,000 | 5,705,550 | ||||||
5.00%, 4/15/2021 | 5,000,000 | 5,534,700 | ||||||
27,039,396 | ||||||||
PUERTO RICO — 0.4% | ||||||||
Commonwealth of Puerto Rico 5.00%, 7/1/2016 (a) | 3,250,000 | 3,511,755 | ||||||
RHODE ISLAND — 0.1% | ||||||||
Rhode Island, State & Providence Plantations, Consolidated Capital Development Series C 5.00%, 11/15/2025 (a) | 1,000,000 | 1,035,350 | ||||||
SOUTH CAROLINA — 1.0% | ||||||||
Charleston County, SC, Sales Tax Revenue 5.00%, 11/1/2018 | 2,000,000 | 2,270,120 |
See accompanying notes to financial statements.
97
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SPDR Nuveen Barclays Capital Municipal Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
South Carolina, State Economic Development Authority Series A 2.00%, 4/1/2024 | $ | 3,000,000 | $ | 2,350,620 | ||||
South Carolina, State Public Service Authority: | ||||||||
Series C 5.00%, 1/1/2016 (a) | 1,275,000 | 1,459,008 | ||||||
Series E 5.00%, 1/1/2017 | 2,500,000 | 2,862,075 | ||||||
8,941,823 | ||||||||
TENNESSEE — 1.4% | ||||||||
Chattanooga, TN, Electric Revenue Series A 5.00%, 9/1/2027 | 5,950,000 | 6,215,073 | ||||||
Memphis, TN, Electric System Revenue 5.00%, 12/1/2018 | 1,500,000 | 1,706,310 | ||||||
Nashville & Davidson County, TN, Health & Educational Facilities Board Revenue: | ||||||||
Series A 5.00%, 10/1/2013 | 2,000,000 | 2,208,700 | ||||||
Series B 5.00%, 10/1/2039 | 1,000,000 | 984,930 | ||||||
Shelby County, TN, General Obligation 5.00%, 4/1/2019 | 1,080,000 | 1,243,393 | ||||||
12,358,406 | ||||||||
TEXAS — 9.7% | ||||||||
Cypress-Fairbanks, TX, Independant School District 5.00%, 2/15/2023 (a) | 5,000,000 | 5,357,700 | ||||||
Dallas, TX, Area Rapid Transit, Sales Tax Revenue: | ||||||||
4.50%, 12/1/2027 (a) | 5,000,000 | 4,929,950 | ||||||
Series A 5.00%, 12/1/2015 | 6,785,000 | 7,751,930 | ||||||
Dallas, TX, General Obligation: | ||||||||
4.75%, 2/15/2026 | 1,500,000 | 1,513,860 | ||||||
5.00%, 2/15/2027 | 1,750,000 | 1,819,948 | ||||||
Harris County, TX, General Obligation 5.00%, 10/1/2024 | 10,000,000 | 10,749,300 | ||||||
Harris County, TX, Road Revenue Series B 5.25%, 8/15/2047 | 3,000,000 | 2,985,300 | ||||||
Houston, TX, Airport System Revenue, Senior Lien Series A 5.50%, 7/1/2034 | 1,850,000 | 1,900,209 | ||||||
Houston, TX, Public Improvement Series D 5.00%, 3/1/2017 (a) | 5,000,000 | 5,650,050 | ||||||
Houston, TX, Utility System Revenue Series A 5.25%, 11/15/2031 (a) | 4,600,000 | 4,724,936 | ||||||
Hurst-Euless-Bedford, TX, Independent School District, General Obligation 5.00%, 8/15/2021 | 2,500,000 | 2,756,500 | ||||||
La Joya, TX, Independent School District 5.00%, 2/15/2034 (a) | 3,300,000 | 3,323,397 | ||||||
San Antonio, TX, Water Revenue 4.50%, 5/15/2037 | 1,500,000 | 1,328,730 | ||||||
Texas, State General Obligation: | ||||||||
4.75%, 4/1/2036 | 1,000,000 | 962,920 | ||||||
Series A 5.00%, 10/1/2014 | 3,795,000 | 4,277,572 | ||||||
5.00%, 4/1/2029 | 3,000,000 | 3,074,820 | ||||||
Texas, State Transportation Commission: | ||||||||
Series A 4.50%, 4/1/2030 (a) | 3,000,000 | 2,894,880 | ||||||
5.00%, 4/1/2024 | 4,125,000 | 4,362,188 | ||||||
5.00%, 4/1/2026 | 2,555,000 | 2,679,454 | ||||||
Texas, State Water Development Board, Revenue, Sub Lien, A-1 5.00%, 7/15/2015 | 5,620,000 | 6,416,972 | ||||||
University of Texas: | ||||||||
Series F 4.75%, 8/15/2026 | 1,890,000 | 1,949,554 | ||||||
5.00%, 8/15/2018 | 1,420,000 | 1,643,522 | ||||||
5.00%, 8/15/2018 | 255,000 | 287,370 | ||||||
83,341,062 | ||||||||
UTAH — 0.5% | ||||||||
Utah, Transport Authority Sales Tax Revenue: | ||||||||
Series A 5.00%, 6/15/2028 | 410,000 | 422,575 | ||||||
Series A 5.00%, 6/15/2036 (a) | 3,850,000 | 3,859,355 | ||||||
4,281,930 | ||||||||
VIRGINIA — 2.0% | ||||||||
Fairfax County, VA, General Obligation Series A 4.00%, 4/1/2011 | 1,675,000 | 1,689,790 | ||||||
Virginia College Building Authority 5.00%, 9/1/2022 | 5,945,000 | 6,489,681 | ||||||
Virginia, State Public Building Authority, Public Facilities Revenue: | ||||||||
Series B 5.00%, 8/1/2017 | 3,000,000 | 3,463,710 | ||||||
Series B 5.25%, 8/1/2027 | 2,000,000 | 2,142,980 | ||||||
Virginia, State Resources Authority, Revenue Series B 5.00%, 11/1/2028 | 3,540,000 | 3,705,318 | ||||||
17,491,479 | ||||||||
WASHINGTON — 5.4% | ||||||||
Central Puget Sound, WA, Regional Transit Authority, Sales & Use Tax Revenue: | ||||||||
Series A 5.00%, 11/1/2032 (a) | 3,000,000 | 3,004,950 | ||||||
Series A 5.00%, 11/1/2036 | 2,000,000 | 1,979,820 | ||||||
Energy Northwest, WA, Electric Revenue Series A 5.00%, 7/1/2014 | 1,000,000 | 1,118,540 | ||||||
King County, WA, School District, General Obligation Series A 4.00%, 6/1/2011 | 1,250,000 | 1,268,575 | ||||||
Seattle, WA, Municipal Light & Power Revenue 5.50%, 4/1/2022 | 1,435,000 | 1,614,734 | ||||||
Snohomish County Public Utility District No 1 3.00%, 12/1/2012 | 2,280,000 | 2,371,131 | ||||||
Snohomish County, WA, School District No. 201 5.25%, 12/1/2024 | 3,225,000 | 3,498,061 | ||||||
Washington, State General Obligation: | ||||||||
Series C 4.25%, 1/1/2013 | 1,000,000 | 1,065,680 | ||||||
Series R 5.00%, 7/1/2016 | 10,000,000 | 11,496,000 | ||||||
Series C 5.00%, 1/1/2021 (a) | 2,100,000 | 2,287,803 | ||||||
Series A 5.00%, 7/1/2023 | 900,000 | 965,871 | ||||||
Series D 5.00%, 1/1/2027 | 8,945,000 | 9,319,527 | ||||||
Series A 5.00%, 7/1/2027 (a) | 1,000,000 | 1,038,850 | ||||||
Series A 5.00%, 7/1/2032 | 2,000,000 | 2,022,060 |
See accompanying notes to financial statements.
98
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SPDR Nuveen Barclays Capital Municipal Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Washington, State Motor Vehicle Fuel Tax Series B 5.00%, 7/1/2026 | $ | 1,855,000 | $ | 1,942,816 | ||||
Washington, State Variable Purposes Series C 5.00%, 2/1/2016 | 1,215,000 | 1,389,340 | ||||||
46,383,758 | ||||||||
WISCONSIN — 1.8% | ||||||||
Milwaukee, WI, General Obligation, Promisory Notes Series N1 5.00%, 2/1/2019 | 11,020,000 | 12,700,330 | ||||||
Wisconsin, State General Obligation Series C 5.00%, 5/1/2014 | 2,000,000 | 2,230,121 | ||||||
14,930,451 | ||||||||
TOTAL MUNICIPAL BONDS & NOTES — | ||||||||
(Cost $852,025,137) | 850,484,394 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENT — 0.3% | ||||||||
MONEY MARKET FUND — 0.3% | ||||||||
State Street Institutional Tax Free Money Market Fund 0.11% (b)(c)(d) (Cost $2,481,197) | 2,481,197 | 2,481,197 | ||||||
TOTAL INVESTMENTS — 99.7% (e) | ||||||||
(Cost $854,506,334) | 852,965,591 | |||||||
OTHER ASSETS & LIABILITIES — 0.3% | 2,413,664 | |||||||
NET ASSETS — 100.0% | $ | 855,379,255 | ||||||
(a) | Bond is insured by one of these companies: | |||||
As a % of | ||||||
Insurance Coverage | Net Assets | |||||
Assured Guaranty Municipal Corp. | 10.82 | % | ||||
National Public Finance Guarantee Corp. | 2.37 | % | ||||
Ambac Financial Group | 2.12 | % | ||||
Assured Guaranty Corp. | 1.27 | % | ||||
Permanent School Fund Guaranteed | 1.01 | % | ||||
(b) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(c) | Value is determined based on Level 1 inputs. (Note 2) | |||||
(d) | The rate shown is the annualized seven-day yield at period end. | |||||
(e) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
Escrow to Maturity = Bonds bearing this description are collateralized usually by U.S. Treasury securities which are held in escrow and used to pay principal and interest on bonds so designated.
See accompanying notes to financial statements.
99
Table of Contents
SPDR Nuveen Barclays Capital California Municipal Bond ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
MUNICIPAL BONDS & NOTES — 99.4% | ||||||||
CALIFORNIA — 99.4% | ||||||||
Alameda County, CA, Joint Powers Authority, Lease Revenue 5.00%, 12/1/2034 (a) | $ | 1,000,000 | $ | 938,940 | ||||
Bakersfield, CA, Certificates of Participation Zero Coupon, 4/15/2021 | 1,000,000 | 669,650 | ||||||
Bakersfield, CA, Wastewater Revenue Series A 5.00%, 9/15/2032 (a) | 300,000 | 285,852 | ||||||
California, State Department of Water Resources: | ||||||||
Series M 4.00%, 5/1/2019 | 2,000,000 | 2,070,120 | ||||||
Series H 4.38%, 5/1/2022 (a) | 1,150,000 | 1,171,229 | ||||||
Series L 5.00%, 5/1/2019 | 500,000 | 559,080 | ||||||
Series AE 5.00%, 12/1/2022 | 1,000,000 | 1,078,130 | ||||||
5.00%, 12/1/2026 | 760,000 | 792,429 | ||||||
Chabot-Las Positas Community College District, CA, Election of 2004 Series B Zero Coupon, 8/1/2024 (a) | 1,400,000 | 634,228 | ||||||
Chaffey Community College District, CA, Election of 2002 Series C 5.00%, 6/1/2032 (a) | 1,000,000 | 947,120 | ||||||
Coast Community College District, CA, Election of 2002 Series B 5.00%, 8/1/2023 (a) | 800,000 | 828,664 | ||||||
Desert Community College District, CA Series C 5.00%, 8/1/2037 (a) | 300,000 | 281,952 | ||||||
Eastern Municipal Water District, CA, Water & Sewer Revenue Series H 5.00%, 7/1/2035 | 1,000,000 | 956,470 | ||||||
El Dorado, CA, Irrigation District, Certificates of Participation Series A 6.25%, 8/1/2029 (a) | 1,200,000 | 1,276,272 | ||||||
Foothill-De Anza, CA, Community College District, General Obligation Series B 5.00%, 8/1/2027 (a) | 1,000,000 | 1,029,860 | ||||||
Grossmont, CA, Union High School District, Election of 2004 5.00%, 8/1/2033 | 1,780,000 | 1,670,031 | ||||||
Los Angeles County, CA, Metropolitan Transportation Authority, Sales Tax Revenue: | ||||||||
5.00%, 6/1/2020 | 1,900,000 | 2,093,040 | ||||||
5.00%, 7/1/2026 | 2,500,000 | 2,566,075 | ||||||
Los Angeles, CA, Community College District, General Obligation: | ||||||||
Series F-1 5.00%, 8/1/2026 | 100,000 | 101,444 | ||||||
Series A 5.00%, 8/1/2032 (a) | 1,000,000 | 971,680 | ||||||
Los Angeles, CA, Department of Airports Revenue Series A 5.00%, 5/15/2021 | 1,000,000 | 1,063,840 | ||||||
Los Angeles, CA, Harbor Department Revenue: | ||||||||
Series A 5.00%, 8/1/2029 | 1,515,000 | 1,504,077 | ||||||
Series C 5.25%, 8/1/2023 | 700,000 | 746,200 | ||||||
Los Angeles, CA, Unified School District: | ||||||||
Series KY 5.00%, 7/1/2015 | 2,325,000 | 2,597,583 | ||||||
Series F 5.00%, 1/1/2034 | 1,000,000 | 940,160 | ||||||
Los Angeles, CA, Wastewater System Revenue Series A 5.00%, 6/1/2029 | 485,000 | 487,954 | ||||||
Los Angeles, CA, Water & Power Revenue Series A-1 5.00%, 7/1/2023 (a) | 400,000 | 417,548 | ||||||
Los Angeles, CA, Water Utility, General Obligation Series A 4.00%, 9/1/2018 | 1,000,000 | 1,048,360 | ||||||
Marin, CA, Community College District Election of 2004 Series B 4.75%, 8/1/2034 | 1,000,000 | 890,750 | ||||||
Metropolitan Water District of Southern California: | ||||||||
Series C 5.00%, 7/1/2029 | 370,000 | 379,631 | ||||||
Series A 5.00%, 1/1/2031 | 1,000,000 | 1,013,800 | ||||||
Riverside, CA, Electric Revenue Series D 5.00%, 10/1/2027 (a) | 835,000 | 847,249 | ||||||
Sacramento County, CA, Sanitation District Financing Authority Revenue Series A 5.25%, 12/1/2022 (a) | 535,000 | 590,886 | ||||||
Sacramento, CA, Municipal Utility District, Electric Revenue: | ||||||||
5.00%, 8/15/2022 (a) | 550,000 | 577,291 | ||||||
Series U 5.00%, 8/15/2023 (a) | 1,000,000 | 1,043,660 | ||||||
San Bernardino, CA, Community College District: | ||||||||
Series B Zero Coupon, 8/1/2028 | 1,050,000 | 337,176 | ||||||
Series D Zero Coupon, 8/1/2032 | 2,290,000 | 516,922 | ||||||
Series C 5.00%, 8/1/2031 (a) | 900,000 | 889,713 | ||||||
San Diego County, CA, Water Authority Revenue: | ||||||||
Series 2008-A 5.00%, 5/1/2015 (a) | 200,000 | 223,928 | ||||||
Series 2008-A 5.00%, 5/1/2018 (a) | 200,000 | 224,296 | ||||||
San Diego Public Facilities Financing Authority 5.00%, 8/1/2024 | 1,000,000 | 1,053,620 | ||||||
San Diego, CA, Community College District 5.00%, 8/1/2032 (a) | 1,000,000 | 978,010 | ||||||
San Diego, CA, Unified School District Election of 1998: | ||||||||
Series G-1 4.50%, 7/1/2029 (a) | 980,000 | 891,594 | ||||||
Series F-1 5.25%, 7/1/2028 (a) | 660,000 | 669,834 | ||||||
San Diego, CA, Unified School District Election of 2008 Series A Zero Coupon, 7/1/2028 | 3,000,000 | 1,010,460 | ||||||
San Francisco, CA, Bay Area Rapid Transit District: | ||||||||
4.25%, 7/1/2033 (a) | 1,000,000 | 850,320 | ||||||
Series B 5.00%, 8/1/2022 | 500,000 | 539,720 | ||||||
San Francisco, CA, Bay Area Toll Authority, Toll Bridge Revenue: | ||||||||
Series F 5.00%, 4/1/2015 | 205,000 | 229,959 | ||||||
Series F 5.00%, 4/1/2025 | 600,000 | 612,696 | ||||||
Series F 5.00%, 4/1/2031 | 500,000 | 494,315 | ||||||
San Francisco, CA, City & County Public Utilities Commission, Water Revenue: | ||||||||
Series A 4.75%, 11/1/2036 (a) | 1,500,000 | 1,347,855 | ||||||
Series D 5.00%, 11/1/2015 | 1,000,000 | 1,135,260 |
See accompanying notes to financial statements.
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Table of Contents
SPDR Nuveen Barclays Capital California Municipal Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
San Francisco, CA, City & County Unified School District Election of 2006 Series B 5.25%, 6/15/2022 | $ | 800,000 | $ | 866,280 | ||||
San Jose, CA, Unified School District Santa Clara County Election of 2002: | ||||||||
Series C 5.00%, 8/1/2024 (a) | 300,000 | 316,221 | ||||||
Series C 5.25%, 8/1/2019 (a) | 1,000,000 | 1,111,390 | ||||||
San Juan, CA, Public Power Agency Project Revenue Series L 5.00%, 7/1/2022 (a) | 100,000 | 106,216 | ||||||
San Marcos Schools Financing Authority: | ||||||||
Zero Coupon, 8/15/2031 (a) | 1,000,000 | 250,020 | ||||||
Zero Coupon, 8/15/2034 (a) | 1,110,000 | 218,182 | ||||||
San Mateo County, CA, Community College District Series B 5.00%, 9/1/2031 | 315,000 | 313,375 | ||||||
San Mateo, CA, Union High School District Series C Zero Coupon, 9/1/2027 (a) | 2,535,000 | 951,614 | ||||||
San Ramon Valley, CA, Unified School District Election of 2002 5.00%, 8/1/2025 (a) | 750,000 | 779,887 | ||||||
Santa Clara County, CA, Financing Authority, Lease Revenue: | ||||||||
Series L 5.00%, 5/15/2028 | 750,000 | 743,940 | ||||||
Series L 5.25%, 5/15/2036 | 1,000,000 | 963,310 | ||||||
Santa Clara Valley, CA, Transportation Authority, Sales Tax Revenue Series A 5.00%, 4/1/2036 (a) | 500,000 | 484,625 | ||||||
Santa Clara Valley, CA, Water District, Certificates of Participation: | ||||||||
Series A 5.00%, 2/1/2030 | 200,000 | 201,554 | ||||||
Series A 5.00%, 6/1/2037 (a) | 500,000 | 487,105 | ||||||
Santa Clarita, CA, Union High School District, General Obligation, Election of 2001 Series B Zero Coupon, 9/1/2028 (a) | 1,500,000 | 441,510 | ||||||
Southern California Public Power Authority: | ||||||||
5.00%, 7/1/2022 | 1,000,000 | 1,063,680 | ||||||
5.00%, 7/1/2030 | 1,500,000 | 1,463,505 | ||||||
Stanford University, Educational Facilities Authority Revenue: | ||||||||
Series T-4 5.00%, 3/15/2014 | 450,000 | 504,630 | ||||||
Series T-1 5.00%, 3/15/2039 | 350,000 | 358,540 | ||||||
University of California, Revenue: | ||||||||
Series E 4.00%, 5/15/2019 | 2,010,000 | 2,066,079 | ||||||
Series J 4.50%, 5/15/2035 (a) | 2,000,000 | 1,713,760 | ||||||
Series K 5.00%, 5/15/2020 (a) | 250,000 | 270,137 | ||||||
Series Q 5.25%, 5/15/2023 | 1,000,000 | 1,073,240 | ||||||
University of Southern California, Educational Facilities Authority, Revenue: | ||||||||
Series A 4.50%, 10/1/2033 | 840,000 | 727,297 | ||||||
Series A 4.75%, 10/1/2037 | 740,000 | 657,890 | ||||||
TOTAL MUNICIPAL BONDS & NOTES — | ||||||||
(Cost $67,629,303) | 65,210,920 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENT — 0.3% | ||||||||
MONEY MARKET FUND — 0.3% | ||||||||
State Street Institutional Tax Free Money Market Fund 0.11% (b)(c)(d) (Cost $175,352) | 175,352 | 175,352 | ||||||
TOTAL INVESTMENTS — 99.7% (e) | ||||||||
(Cost $67,804,655) | 65,386,272 | |||||||
OTHER ASSETS & LIABILITIES — 0.3% | 194,240 | |||||||
NET ASSETS — 100.0% | $ | 65,580,512 | ||||||
(a) | Bond is insured by one of these companies: | |||||
As a % of | ||||||
Insurance Coverage | Net Assets | |||||
Assured Guaranty Municipal Corp. | 22.54 | % | ||||
National Public Finance Guarantee Corp. | 9.80 | % | ||||
Ambac Financial Group | 3.91 | % | ||||
Assured Guaranty Corp. | 1.95 | % | ||||
(b) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(c) | Value is determined based on Level 1 inputs. (Note 2) | |||||
(d) | The rate shown is the annualized seven-day yield at period end. | |||||
(e) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
See accompanying notes to financial statements.
101
Table of Contents
SPDR Nuveen Barclays Capital New York Municipal Bond ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
MUNICIPAL BONDS & NOTES — 97.2% | ||||||||
NEW YORK — 94.6% | ||||||||
Albany County, NY, Airport Authority Revenue Series A 4.00%, 12/15/2024 | $ | 400,000 | $ | 362,548 | ||||
Erie County, NY, Industrial Development Agency Series A 5.75%, 5/1/2024 (a) | 500,000 | 549,595 | ||||||
Haverstraw-Stony Point Central, NY, School District, General Obligation 3.00%, 10/15/2026 (a) | 810,000 | 628,220 | ||||||
Nassau County, NY, General Obligation: | ||||||||
Series C 4.00%, 10/1/2015 | 300,000 | 323,607 | ||||||
Series C 5.00%, 7/1/2015 (a) | 500,000 | 562,035 | ||||||
5.00%, 7/1/2022 | 100,000 | 106,549 | ||||||
Series C 5.13%, 10/1/2035 (a) | 100,000 | 100,376 | ||||||
Nassau County, NY, Interim Finance Authority: | ||||||||
Series A 3.00%, 11/15/2014 | 400,000 | 422,424 | ||||||
5.00%, 11/15/2014 | 100,000 | 113,081 | ||||||
5.00%, 11/15/2014 | 100,000 | 113,081 | ||||||
Nassau County, NY, Sewer & Storm Water Finance Authority System, Revenue Series A 5.38%, 11/1/2028 | 400,000 | 426,640 | ||||||
New York & New Jersey Port Authority Revenue: | ||||||||
4.25%, 7/15/2040 | 500,000 | 425,655 | ||||||
5.00%, 7/15/2022 | 100,000 | 108,268 | ||||||
5.00%, 7/15/2039 | 500,000 | 498,485 | ||||||
New York City, NY, Cultural Resource Revenue, Museum of Modern Art Series A-1 5.00%, 4/1/2031 | 300,000 | 301,122 | ||||||
New York City, Transitional Finance Authority: | ||||||||
3.20%, 11/1/2018 | 140,000 | 142,131 | ||||||
Series S-1 4.50%, 1/15/2038 | 245,000 | 220,907 | ||||||
Series B 5.00%, 11/1/2015 | 200,000 | 227,644 | ||||||
Series C-1 5.00%, 11/1/2017 | 350,000 | 400,543 | ||||||
5.00%, 11/1/2018 | 200,000 | 227,996 | ||||||
Series C-1 5.00%, 11/1/2018 | 100,000 | 115,279 | ||||||
New York, NY, General Obligation: | ||||||||
Series A 3.00%, 8/1/2017 | 200,000 | 201,068 | ||||||
Series K 5.00%, 8/1/2013 | 200,000 | 218,552 | ||||||
5.00%, 8/1/2021 | 300,000 | 326,394 | ||||||
New York, NY, Liberty Development Corp. 5.13%, 1/15/2044 | 1,000,000 | 948,980 | ||||||
New York, NY, Metropolitan Transportation Authority Revenue Series A 5.00%, 11/15/2011 | 135,000 | 140,225 | ||||||
New York, NY, Municipal Water Finance Authority: | ||||||||
Series DD 4.75%, 6/15/2035 | 100,000 | 96,492 | ||||||
Series GG-2 5.00%, 6/15/2035 | 100,000 | 99,438 | ||||||
Series DD 5.25%, 6/15/2024 | 200,000 | 213,828 | ||||||
Series A 5.63%, 6/15/2024 | 130,000 | 144,988 | ||||||
New York, State Dormitory Authority Revenue: | ||||||||
Series C-1 4.00%, 1/15/2022 | 500,000 | 483,515 | ||||||
Series A 5.00%, 7/1/2038 | 650,000 | 639,496 | ||||||
New York, State Dormitory Authority Revenue, Columbia University 5.00%, 7/1/2038 | 250,000 | 253,740 | ||||||
New York, State Dormitory Authority Revenue, Cornell University: | ||||||||
Series A 5.00%, 7/1/2034 | 355,000 | 356,214 | ||||||
Series A 5.00%, 7/1/2039 | 300,000 | 301,026 | ||||||
New York, State Dormitory Authority Revenue, Fordham University: | ||||||||
4.25%, 7/1/2039 | 500,000 | 419,770 | ||||||
5.00%, 3/15/2017 | 100,000 | 114,137 | ||||||
5.00%, 10/1/2019 | 125,000 | 136,723 | ||||||
Series B 5.00%, 7/1/2033 (a) | 500,000 | 497,990 | ||||||
New York, State Dormitory Authority Revenue, New York University Series A 5.00%, 7/1/2029 | 240,000 | 244,500 | ||||||
New York, State Dormitory Authority Revenue, Non State Supported Debt Series A 5.00%, 8/1/2014 | 210,000 | 233,377 | ||||||
New York, State Dormitory Authority Revenue, School Districts Series C 5.00%, 10/1/2031 (a) | 600,000 | 609,294 | ||||||
New York, State Dormitory Authority Revenue, State Supported Debt 5.00%, 1/1/2019 | 250,000 | 276,672 | ||||||
New York, State Dormitory Authority, State Income Tax Revenue Series B 5.00%, 3/15/2028 | 260,000 | 266,659 | ||||||
New York, State Dormitory Authority, State Personal Income Tax Revenue: | ||||||||
Series B 5.00%, 2/15/2018 | 125,000 | 142,357 | ||||||
Series C 5.00%, 12/15/2020 | 500,000 | 544,970 | ||||||
New York, State Environmental Facilities Corp.: | ||||||||
Series A 4.50%, 6/15/2036 | 635,000 | 603,587 | ||||||
5.00%, 5/15/2015 | 150,000 | 170,583 | ||||||
5.00%, 12/15/2015 | 200,000 | 229,532 | ||||||
Series A 5.25%, 12/15/2026 | 200,000 | 211,426 | ||||||
New York, State Housing Finance Agency, Personal Income Tax Revenue Series A 5.00%, 3/15/2039 | 550,000 | 546,667 | ||||||
New York, State Local Government Assistance Corp.: | ||||||||
Series C 5.00%, 4/1/2018 | 500,000 | 572,310 | ||||||
5.00%, 4/1/2019 | 580,000 | 652,541 | ||||||
Series A 5.00%, 4/1/2020 | 435,000 | 483,137 | ||||||
New York, State Municipal Bond Bank Agency Series C-1 5.00%, 2/15/2016 (a) | 200,000 | 223,948 | ||||||
New York, State Power Authority: | ||||||||
Series A 4.50%, 11/15/2047 (a) | 700,000 | 610,680 | ||||||
Series C 5.00%, 11/15/2020 (a) | 250,000 | 274,927 | ||||||
New York, State Thruway Authority, General Revenue Series B 5.00%, 4/1/2027 | 300,000 | 304,779 |
See accompanying notes to financial statements.
102
Table of Contents
SPDR Nuveen Barclays Capital New York Municipal Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
New York, State Thruway Authority, Personal Income Tax Revenue 5.00%, 3/15/2018 | $ | 250,000 | $ | 284,207 | ||||
New York, State Thruway Authority, Second General Highway & Bridge Trust: | ||||||||
5.00%, 4/1/2019 | 110,000 | 120,396 | ||||||
Series B 5.00%, 4/1/2028 | 250,000 | 252,860 | ||||||
Series B 5.00%, 4/1/2029 | 300,000 | 301,788 | ||||||
New York, State Urban Development Corp., Revenue: | ||||||||
5.00%, 12/15/2017 | 200,000 | 231,416 | ||||||
Series A-1 5.00%, 12/15/2027 | 250,000 | 257,077 | ||||||
New York, Triborough Bridge & Tunnel Authority Revenue Series A-1 4.00%, 11/15/2038 | 200,000 | 211,912 | ||||||
New York, Triborough Bridge & Tunnel Authority, Revenue: | ||||||||
5.00%, 11/15/2017 | 800,000 | 921,544 | ||||||
5.00%, 11/15/2027 | 145,000 | 150,358 | ||||||
Oyster Bay, N Y, General Obligation 4.00%, 8/15/2026 | 1,100,000 | 1,074,953 | ||||||
State of New York, General Obligation Series A 2.00%, 3/1/2012 | 500,000 | 508,105 | ||||||
Suffolk County, NY, General Obligation Series C 4.00%, 10/15/2013 | 500,000 | 540,125 | ||||||
Westchester County, NY, General Obligation Series A 3.75%, 11/15/2012 | 500,000 | 528,720 | ||||||
24,554,169 | ||||||||
PUERTO RICO — 2.6% | ||||||||
Puerto Rico, Electric Power Authority Revenue Series UU 5.00%, 7/1/2016 (a) | 500,000 | 554,530 | ||||||
Puerto Rico, Sales Tax Financing Corp. Series A Zero Coupon, 8/1/2044 | 1,100,000 | 123,948 | ||||||
678,478 | ||||||||
TOTAL MUNICIPAL BONDS & NOTES — | ||||||||
(Cost $25,711,307) | 25,232,647 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENT — 2.4% | ||||||||
MONEY MARKET FUND — 2.4% | ||||||||
State Street Institutional Tax Free Money Market Fund 0.11% (b)(c)(d) (Cost $624,476) | 624,476 | 624,476 | ||||||
TOTAL INVESTMENTS — 99.6% (e) | ||||||||
(Cost $26,335,783) | 25,857,123 | |||||||
OTHER ASSETS & LIABILITIES — 0.4% | 113,470 | |||||||
NET ASSETS — 100.0% | $ | 25,970,593 | ||||||
(a) | Bond is insured by one of these companies: | |||||
As a % of | ||||||
Insurance Coverage | Net Assets | |||||
Assured Guaranty Municipal Corp. | 8.83 | % | ||||
Assured Guaranty Corp. | 5.51 | % | ||||
National Public Finance Guarantee Corp. | 3.41 | % | ||||
(b) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(c) | Value determined based on Level 1 inputs. (Note 2) | |||||
(d) | The rate shown is the annualized seven-day yield at period end. | |||||
(e) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
See accompanying notes to financial statements.
103
Table of Contents
SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
MUNICIPAL BONDS & NOTES — 99.4% | ||||||||
ALABAMA — 0.2% | ||||||||
Alabama, Public School & College Authority Revenue: | ||||||||
5.00%, 5/1/2014 | $ | 850,000 | $ | 941,664 | ||||
Series A 5.00%, 5/1/2014 | 1,500,000 | 1,661,760 | ||||||
2,603,424 | ||||||||
ARIZONA — 3.3% | ||||||||
Arizona, Salt River Project, Electrical Systems Revenue: | ||||||||
Series A 3.00%, 1/1/2014 | 1,070,000 | 1,124,121 | ||||||
Series B 3.00%, 1/1/2014 | 5,000,000 | 5,252,900 | ||||||
Arizona, State Certificates of Participation: | ||||||||
5.00%, 10/1/2014 (a) | 10,375,000 | 11,415,820 | ||||||
Series A 5.00%, 10/1/2013 (a) | 6,500,000 | 7,062,380 | ||||||
Arizona, State Transportation Board, Excise Tax Revenue 5.00%, 7/1/2013 | 2,750,000 | 3,010,452 | ||||||
Gilbert, AZ, General Obligation 5.00%, 7/1/2013 | 8,740,000 | 9,520,482 | ||||||
Pima County, AZ, General Obligation Series A 3.00%, 7/1/2012 | 5,000,000 | 5,149,650 | ||||||
42,535,805 | ||||||||
ARKANSAS — 1.5% | ||||||||
Arkansas, State Highway Grant Anticipation & Tax Revenue 4.00%, 8/1/2014 | 18,000,000 | 19,618,380 | ||||||
CALIFORNIA — 8.2% | ||||||||
California, State Department of Water Resources Revenue: | ||||||||
4.00%, 5/1/2015 | 6,000,000 | 6,458,220 | ||||||
Series L 4.00%, 5/1/2015 | 7,630,000 | 8,229,108 | ||||||
Series AF 5.00%, 12/1/2012 | 5,000,000 | 5,400,300 | ||||||
Series L 5.00%, 5/1/2015 | 1,000,000 | 1,121,840 | ||||||
Contra Costa, CA, Water District Revenue 3.00%, 10/1/2015 | 11,750,000 | 12,360,177 | ||||||
Irvine, CA, Unified School District Special Tax 5.00%, 9/1/2012 (a) | 3,000,000 | 3,173,550 | ||||||
Long Beach, CA, Community College District, General Obligation Series A 9.85%, 1/15/2013 | 1,560,000 | 1,806,901 | ||||||
Long Beach, CA, Unified School District, General Obligation Series A 4.00%, 8/1/2012 | 7,950,000 | 8,331,282 | ||||||
Los Angeles County, CA, Metropolitan Transportation Authority Sales Tax Revenue: | ||||||||
3.00%, 7/1/2013 | 3,000,000 | 3,127,500 | ||||||
4.00%, 6/1/2013 | 2,300,000 | 2,457,320 | ||||||
Los Angeles County, CA, Public Works Financing Authority Revenue Series A 5.00%, 10/1/2014 | 4,800,000 | 5,352,864 | ||||||
Los Angeles, CA, General Obligation Series A 2.50%, 9/1/2014 | 8,825,000 | 9,042,536 | ||||||
Los Angeles, CA, Unified School District, General Obligation: | ||||||||
Series H 5.00%, 7/1/2014 (a) | 3,975,000 | 4,482,329 | ||||||
Series I 5.00%, 7/1/2014 | 2,000,000 | 2,208,340 | ||||||
Northern California Power Agency Revenue, Hydroelectric No-1 Series C 5.00%, 7/1/2014 (a) | 1,500,000 | 1,656,255 | ||||||
San Bernardino County, CA, Transportation Authority, Sales Tax Revenue Series A 4.00%, 5/1/2012 | 4,000,000 | 4,156,120 | ||||||
San Diego Public Facilities Financing Authority: | ||||||||
5.00%, 5/15/2014 | 500,000 | 551,945 | ||||||
5.00%, 5/15/2015 | 2,165,000 | 2,426,251 | ||||||
San Francisco, CA, City & County Public Utilities Commission, Water Revenue Series D 5.00%, 11/1/2015 | 5,360,000 | 6,084,994 | ||||||
San Francisco, CA, City & County, General Obligation: | ||||||||
Series 2008-R1 5.00%, 6/15/2013 | 3,000,000 | 3,276,840 | ||||||
Series A 5.00%, 6/15/2014 | 10,075,000 | 11,218,412 | ||||||
University of California, Revenue: | ||||||||
Series J 5.00%, 5/15/2013 (a) | 1,000,000 | 1,086,720 | ||||||
Series O 5.00%, 5/15/2013 | 3,000,000 | 3,260,160 | ||||||
107,269,964 | ||||||||
COLORADO — 0.4% | ||||||||
Denver, CO, City & County, General Obligation 5.00%, 8/1/2012 | 1,060,000 | 1,132,175 | ||||||
University of Colorado, Enterprise System Revenue 5.00%, 6/1/2012 (a) | 3,700,000 | 3,918,337 | ||||||
5,050,512 | ||||||||
CONNECTICUT — 5.6% | ||||||||
Connecticut, State General Obligation: | ||||||||
5.00%, 3/15/2013 | 4,670,000 | 5,081,847 | ||||||
5.00%, 12/1/2014 | 15,000,000 | 16,953,600 | ||||||
5.00%, 3/15/2015 | 5,000,000 | 5,665,150 | ||||||
Series A 5.00%, 1/1/2012 | 5,000,000 | 5,226,250 | ||||||
Series A 5.00%, 1/1/2015 | 14,000,000 | 15,797,600 | ||||||
Connecticut, State Health & Educational Facility Authority Revenue: | ||||||||
Series A-3 4.00%, 7/1/2049 | 3,375,000 | 3,584,486 | ||||||
Series A-4 5.00%, 7/1/2049 (b) | 5,000,000 | 5,655,400 | ||||||
Connecticut, State Special Tax Obligation Revenue: | ||||||||
Series 1 5.00%, 2/1/2013 | 2,000,000 | 2,159,360 | ||||||
Series A 5.00%, 12/1/2013 | 5,575,000 | 6,178,104 | ||||||
Series A 5.00%, 12/1/2014 | 5,000,000 | 5,622,900 | ||||||
University of Connecticut, Revenue Series A 3.00%, 2/15/2014 | 415,000 | 434,883 | ||||||
72,359,580 | ||||||||
See accompanying notes to financial statements.
104
Table of Contents
SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
DELAWARE — 0.6% | ||||||||
Delaware, State General Obligation: | ||||||||
Series 2009C 2.00%, 10/1/2014 | $ | 225,000 | $ | 230,645 | ||||
Series 2009A 4.00%, 1/1/2012 | 2,000,000 | 2,070,380 | ||||||
Series 2009A 5.00%, 1/1/2014 | 1,200,000 | 1,338,732 | ||||||
Series A 5.00%, 7/1/2015 | 4,000,000 | 4,594,280 | ||||||
8,234,037 | ||||||||
DISTRICT OF COLUMBIA — 0.3% | ||||||||
District of Columbia, General Obligation 5.00%, 6/1/2012 | 1,560,000 | 1,654,099 | ||||||
District of Columbia, Income Tax Revenue Series B 4.00%, 12/1/2013 | 2,000,000 | 2,156,440 | ||||||
3,810,539 | ||||||||
FLORIDA — 6.5% | ||||||||
County of Miami-Dade FL 5.00%, 10/1/2014 | 8,000,000 | 8,933,760 | ||||||
Florida, State Board of Education, General Obligation: | ||||||||
5.00%, 6/1/2013 | 1,000,000 | 1,092,330 | ||||||
Series C 5.00%, 6/1/2014 | 9,585,000 | 10,684,495 | ||||||
Florida, State Department of Environmental Protection Series A 5.00%, 7/1/2014 | 1,500,000 | 1,650,390 | ||||||
Florida, State Department of Management Services, Certificates of Participation 5.00%, 8/1/2012 | 1,000,000 | 1,059,000 | ||||||
Florida, State General Obligation Series B 5.00%, 7/1/2014 | 8,070,000 | 9,012,011 | ||||||
Florida, State Turnpike Authority, Turnpike Revenue Series A 5.00%, 7/1/2012 (a) | 1,115,000 | 1,182,112 | ||||||
Florida, Water Pollution Control Financing Corp. Series A 5.00%, 7/15/2012 | 11,630,000 | 12,392,346 | ||||||
Florida, Water Pollution Control Revenue: | ||||||||
Series A 3.00%, 1/15/2012 | 2,000,000 | 2,050,980 | ||||||
Series A 3.00%, 1/15/2013 | 3,535,000 | 3,673,678 | ||||||
Jacksonville, FL, Special Tax Revenue: | ||||||||
Series B 5.00%, 10/1/2013 | 7,705,000 | 8,452,000 | ||||||
Series B 5.00%, 10/1/2015 | 7,705,000 | 8,718,824 | ||||||
JEA, FL, Park System Revenue Series 20 4.00%, 10/1/2014 | 1,000,000 | 1,004,780 | ||||||
Lakeland, FL, Energy Systems Revenue 5.00%, 10/1/2015 | 7,510,000 | 8,379,433 | ||||||
Miami-Dade County, FL, Water & Sewer Revenue 4.00%, 10/1/2013 | 150,000 | 160,525 | ||||||
Orlando, FL, Utilities Commission System Revenue 5.00%, 10/1/2013 | 1,975,000 | 2,179,393 | ||||||
Pasco County, FL, School District Sales Tax Revenue 5.00%, 10/1/2011 (a) | 300,000 | 307,680 | ||||||
Tampa Bay, FL, Water Revenue: | ||||||||
5.00%, 10/1/2012 (c) | 1,325,000 | 1,378,941 | ||||||
5.00%, 10/1/2013 (c) | 1,500,000 | 1,598,445 | ||||||
83,911,123 | ||||||||
GEORGIA — 3.2% | ||||||||
Georgia, Metropolitan Atlanta Rapid Transit Authority, Sales Tax Revenue Series A 5.00%, 7/1/2013 (a) | 2,500,000 | 2,720,025 | ||||||
Georgia, State General Obligation: | ||||||||
Series A 3.00%, 1/1/2014 | 200,000 | 211,386 | ||||||
Series B 3.50%, 1/1/2013 | 560,000 | 590,571 | ||||||
Series C 5.00%, 7/1/2014 | 5,000,000 | 5,640,000 | ||||||
Series D 5.00%, 5/1/2015 | 400,000 | 458,008 | ||||||
Series G 5.00%, 11/1/2014 | 3,535,000 | 4,016,856 | ||||||
Georgia, State Road & Tollway Authority Revenue Series A 5.00%, 6/1/2012 | 3,000,000 | 3,183,600 | ||||||
Gwinnett County, GA, School District, General Obligation: | ||||||||
5.00%, 2/1/2012 | 4,990,000 | 5,231,466 | ||||||
5.00%, 2/1/2013 | 5,385,000 | 5,844,179 | ||||||
Henry County, GA, School District, General Obligation Series A 5.00%, 4/1/2012 | 5,875,000 | 6,183,026 | ||||||
Richmond County, GA, Board of Education, General Obligation 5.00%, 10/1/2012 | 7,000,000 | 7,525,560 | ||||||
41,604,677 | ||||||||
HAWAII — 1.0% | ||||||||
Hawaii, State General Obligation: | ||||||||
2.25%, 11/1/2013 | 250,000 | 257,895 | ||||||
Series DT 4.00%, 11/1/2014 | 2,000,000 | 2,184,240 | ||||||
Series DG 5.00%, 7/1/2012 (a) | 2,500,000 | 2,655,475 | ||||||
Series DY 5.00%, 2/1/2015 | 1,000,000 | 1,128,450 | ||||||
Honolulu, HI, City & County, General Obligation: | ||||||||
Series A 2.75%, 4/1/2014 | 1,750,000 | 1,823,973 | ||||||
Series C 4.00%, 4/1/2013 | 2,035,000 | 2,168,862 | ||||||
Series B 5.25%, 7/1/2014 (a) | 2,125,000 | 2,398,742 | ||||||
12,617,637 | ||||||||
IDAHO — 0.1% | ||||||||
Idaho, State Building Authority Revenue 5.00%, 9/1/2013 | 1,375,000 | 1,510,383 | ||||||
ILLINOIS — 1.8% | ||||||||
Chicago, IL, Board of Education, General Obligation Series D 4.00%, 12/1/2012 (a) | 1,610,000 | 1,708,178 | ||||||
Chicago, IL, General Obligation Series C 5.00%, 1/1/2012 (a) | 700,000 | 726,208 | ||||||
Chicago, IL, Water Revenue: | ||||||||
5.00%, 11/1/2011 (a) | 2,000,000 | 2,065,480 | ||||||
5.00%, 11/1/2014 (a) | 1,500,000 | 1,642,725 | ||||||
Cook County, IL, General Obligation Series B 5.00%, 11/15/2014 (a) | 1,200,000 | 1,302,816 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Illinois, Finance Authority Series B 1.88%, 7/1/2036 (b) | $ | 5,000,000 | $ | 4,899,200 | ||||
Illinois, State General Obligation: | ||||||||
Series B 5.00%, 1/1/2011 | 950,000 | 950,000 | ||||||
Series B 5.00%, 3/1/2013 | 1,000,000 | 1,042,900 | ||||||
Illinois, State Revenue Series B 3.00%, 6/15/2014 | 1,675,000 | 1,679,338 | ||||||
Illinois, State Sales Tax Revenue: | ||||||||
4.00%, 6/15/2012 | 1,550,000 | 1,610,373 | ||||||
5.00%, 6/15/2015 | 2,575,000 | 2,823,693 | ||||||
University of Illinois, Certificates of Participation Sereis B 5.00%, 10/1/2015 | 2,420,000 | 2,640,026 | ||||||
23,090,937 | ||||||||
INDIANA — 1.4% | ||||||||
Indiana, State Finance Authority Revenue: | ||||||||
Series A 5.00%, 2/1/2013 | 2,715,000 | 2,938,906 | ||||||
Series A 5.00%, 2/1/2015 | 4,500,000 | 5,091,300 | ||||||
Indiana, State Finance Authority, Lease Revenue Series A-1 5.00%, 11/1/2014 | 8,915,000 | 9,773,515 | ||||||
17,803,721 | ||||||||
KENTUCKY — 0.3% | ||||||||
Kentucky, Asset/Liability Commission Agency Fund Revenue 5.00%, 9/1/2012 (a) | 4,000,000 | 4,257,240 | ||||||
Kentucky, State Property & Building Commission 5.00%, 8/1/2014 | 225,000 | 249,059 | ||||||
4,506,299 | ||||||||
LOUISIANA — 0.4% | ||||||||
Louisiana, State General Obligation Series A 5.00%, 5/1/2014 | 5,000,000 | 5,583,950 | ||||||
MARYLAND — 3.2% | ||||||||
Baltimore County, MD, General Obligation: | ||||||||
5.00%, 2/1/2012 | 1,000,000 | 1,048,170 | ||||||
5.00%, 2/1/2014 | 3,230,000 | 3,609,493 | ||||||
Maryland, State Department of Transportation, Revenue: | ||||||||
4.00%, 2/15/2014 | 2,500,000 | 2,708,325 | ||||||
5.00%, 2/15/2015 | 1,100,000 | 1,245,871 | ||||||
Maryland, State General Obligation: | ||||||||
Series A 3.00%, 3/1/2014 | 2,725,000 | 2,881,633 | ||||||
5.00%, 7/15/2013 | 1,000,000 | 1,102,770 | ||||||
Series B 5.25%, 8/15/2014 | 200,000 | 227,930 | ||||||
Maryland, State Transportation Authority, Grant & Revenue Anticipation: | ||||||||
5.00%, 3/1/2012 | 1,000,000 | 1,052,020 | ||||||
5.00%, 3/1/2013 | 3,550,000 | 3,857,608 | ||||||
5.25%, 3/1/2015 | 1,025,000 | 1,171,698 | ||||||
Montgomery County, MD, General Obligation: | ||||||||
5.00%, 8/1/2012 | 500,000 | 534,290 | ||||||
Series A 5.00%, 5/1/2012 | 1,450,000 | 1,534,680 | ||||||
Series A 5.00%, 5/1/2013 | 1,500,000 | 1,643,910 | ||||||
Series A 5.00%, 8/1/2015 | 16,250,000 | 18,699,687 | ||||||
41,318,085 | ||||||||
MASSACHUSETTS — 2.3% | ||||||||
Boston, MA, Water & Sewer Commission, Water Revenue Series B 5.00%, 11/1/2014 | 4,545,000 | 5,135,486 | ||||||
Massachusetts Bay Transportation Authority, Sales Tax Revenue Series B 5.00%, 7/1/2013 | 1,000,000 | 1,095,750 | ||||||
Massachusetts, State General Obligation: | ||||||||
Series C 3.00%, 1/1/2014 | 4,125,000 | 4,328,693 | ||||||
Series A 4.00%, 11/1/2014 | 250,000 | 272,350 | ||||||
Series B 4.00%, 6/1/2012 | 610,000 | 638,896 | ||||||
Series B 4.00%, 6/1/2013 | 1,000,000 | 1,068,400 | ||||||
Series A 5.00%, 9/1/2014 | 1,500,000 | 1,683,765 | ||||||
Series C 5.00%, 9/1/2013 | 1,000,000 | 1,100,120 | ||||||
Series C 5.00%, 5/1/2014 | 4,210,000 | 4,694,403 | ||||||
Massachusetts, State Port Authority Revenue Series C 5.00%, 7/1/2012 (a) | 1,000,000 | 1,062,350 | ||||||
Massachusetts, State School Building Authority, Sales Tax Revenue: | ||||||||
Series A 4.00%, 5/15/2012 | 300,000 | 313,134 | ||||||
Series A 4.00%, 5/15/2013 | 1,975,000 | 2,110,979 | ||||||
Series A 5.00%, 8/15/2013 (a) | 3,220,000 | 3,542,322 | ||||||
Massachusetts, State Water Pollution Abatement Trust Revenue 5.00%, 8/1/2013 | 1,165,000 | 1,283,981 | ||||||
Springfield, MA, General Obligation 5.75%, 8/1/2014 (a) | 1,025,000 | 1,156,866 | ||||||
29,487,495 | ||||||||
MICHIGAN — 0.6% | ||||||||
Michigan, Municipal Bond Authority Revenue: | ||||||||
5.00%, 10/1/2012 | 755,000 | 810,870 | ||||||
5.00%, 10/1/2013 | 1,025,000 | 1,130,790 | ||||||
University of Michigan, Revenue Series C 3.00%, 4/1/2014 | 5,920,000 | 6,203,450 | ||||||
8,145,110 | ||||||||
MINNESOTA — 2.1% | ||||||||
Minnesota, State General Obligation: | ||||||||
4.00%, 12/1/2012 | 350,000 | 371,893 | ||||||
5.00%, 8/1/2014 | 350,000 | 395,318 | ||||||
Series A 5.00%, 6/1/2012 | 4,000,000 | 4,244,200 | ||||||
Series A 5.00%, 8/1/2013 | 9,075,000 | 10,016,440 | ||||||
Series A 5.00%, 6/1/2014 | 1,275,000 | 1,434,362 | ||||||
Series A 5.00%, 6/1/2015 | 200,000 | 229,088 | ||||||
Series D 5.00%, 8/1/2015 | 7,675,000 | 8,817,347 | ||||||
Series H 5.00%, 11/1/2013 | 1,000,000 | 1,111,910 | ||||||
Northern Municipal Power Agency, Electric System Revenue Series A 5.00%, 1/1/2014 (a) | 1,000,000 | 1,084,490 | ||||||
27,705,048 | ||||||||
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
MISSISSIPPI — 0.6% | ||||||||
Mississippi, State General Obligation: | ||||||||
5.00%, 11/1/2014 | $ | 1,000,000 | $ | 1,125,950 | ||||
Series B 5.00%, 12/1/2014 | 6,000,000 | 6,766,860 | ||||||
7,892,810 | ||||||||
MISSOURI — 1.4% | ||||||||
Missouri, State Highways & Transportation Commission, State Road Revenue: | ||||||||
2.00%, 5/1/2012 | 8,580,000 | 8,739,073 | ||||||
Series A 5.00%, 5/1/2013 | 1,335,000 | 1,462,760 | ||||||
Series A 5.00%, 5/1/2014 | 7,350,000 | 8,218,549 | ||||||
18,420,382 | ||||||||
NEBRASKA — 0.2% | ||||||||
Nebraska, Public Power District Revenue Series B 5.00%, 1/1/2012 (a) | 1,250,000 | 1,303,263 | ||||||
Omaha, NE, General Obligation 3.75%, 6/1/2013 | 1,000,000 | 1,065,690 | ||||||
2,368,953 | ||||||||
NEVADA — 1.1% | ||||||||
Clark County, NV, Highway Improvement Revenue 5.00%, 7/1/2012 (a) | 4,300,000 | 4,541,058 | ||||||
Clark County, NV, Sales and Excise Tax Series B 3.00%, 7/1/2015 | 2,985,000 | 3,091,714 | ||||||
Clark County, NV, School District General Obligation Series B 5.00%, 6/15/2015 | 3,000,000 | 3,341,670 | ||||||
Las Vegas Valley, NV, Water District: | ||||||||
Series A 5.00%, 2/1/2013 | 275,000 | 296,557 | ||||||
Series B 5.00%, 6/1/2011 | 1,500,000 | 1,525,815 | ||||||
Nevada, State General Obligation Series A 5.00%, 2/1/2012 | 1,460,000 | 1,525,817 | ||||||
14,322,631 | ||||||||
NEW JERSEY — 2.3% | ||||||||
New Jersey, Economic Development Authority Revenue: | ||||||||
Series W 5.00%, 3/1/2012 | 1,980,000 | 2,080,386 | ||||||
Series Y 5.00%, 9/1/2015 | 2,670,000 | 2,951,658 | ||||||
New Jersey, Educational Facilities Authority Series K 5.00%, 7/1/2013 | 500,000 | 548,780 | ||||||
New Jersey, Higher Education Assistance Authority Series A 5.00%, 12/1/2014 | 250,000 | 270,112 | ||||||
New Jersey, State General Obligation: | ||||||||
4.00%, 8/1/2012 | 3,780,000 | 3,971,646 | ||||||
5.00%, 8/1/2014 | 13,000,000 | 14,499,810 | ||||||
5.00%, 8/1/2015 | 2,445,000 | 2,760,503 | ||||||
Series A 5.00%, 6/15/2015 | 220,000 | 237,321 | ||||||
Union County, NJ, General Obligation 4.00%, 3/1/2013 | 2,000,000 | 2,136,480 | ||||||
29,456,696 | ||||||||
NEW MEXICO — 1.6% | ||||||||
Albuquerque, NM, Municipal School District No 12 Series A 3.00%, 8/1/2015 | 8,250,000 | 8,723,550 | ||||||
New Mexico, State Finance Authority 5.00%, 12/15/2012 | 2,500,000 | 2,701,675 | ||||||
New Mexico, State General Obligation 5.00%, 3/1/2012 | 500,000 | 525,650 | ||||||
New Mexico, State Severance Tax Revenue Series B 5.00%, 7/1/2014 | 8,230,000 | 9,190,688 | ||||||
21,141,563 | ||||||||
NEW YORK — 17.4% | ||||||||
City of New York, NY: | ||||||||
4.00%, 8/1/2012 | 500,000 | 525,025 | ||||||
Series B 4.00%, 8/1/2015 | 1,000,000 | 1,081,050 | ||||||
4.75%, 2/1/2012 | 500,000 | 522,030 | ||||||
5.00%, 12/1/2012 | 450,000 | 484,956 | ||||||
5.00%, 8/1/2013 | 1,030,000 | 1,125,543 | ||||||
5.00%, 8/15/2013 | 685,000 | 749,479 | ||||||
5.00%, 8/1/2014 | 250,000 | 277,648 | ||||||
5.00%, 6/1/2015 | 6,110,000 | 6,851,754 | ||||||
5.00%, 8/1/2015 | 3,000,000 | 3,373,170 | ||||||
Nassau County, NY, General Obligation Series C 4.00%, 10/1/2015 | 6,855,000 | 7,394,420 | ||||||
New York, NY, City Cultural Resource Revenue, Juilliard School Series B 2.75%, 1/1/2036 (b) | 1,080,000 | 1,102,216 | ||||||
New York, NY, City Municipal Water Finance Authority, Water & Sewer System Revenue: | ||||||||
Series BB 5.00%, 6/15/2013 | 1,040,000 | 1,134,650 | ||||||
Series BB 5.00%, 6/15/2013 | 5,375,000 | 5,864,179 | ||||||
New York, NY, City Transitional Finance Authority Revenue: | ||||||||
3.60%, 1/15/2013 | 450,000 | 475,947 | ||||||
5.00%, 11/1/2014 | 5,000,000 | 5,617,850 | ||||||
Series A-1 5.00%, 8/1/2012 | 6,000,000 | 6,384,120 | ||||||
Series B 5.00%, 11/1/2013 | 1,000,000 | 1,106,300 | ||||||
Series B 5.00%, 11/1/2014 | 10,200,000 | 11,460,414 | ||||||
Series S-2 5.00%, 1/15/2014 (a) | 2,005,000 | 2,196,337 | ||||||
New York, NY, General Obligation: | ||||||||
Series C 4.00%, 8/1/2014 | 4,000,000 | 4,304,520 | ||||||
Series I-1 4.00%, 2/1/2013 | 1,040,000 | 1,098,978 | ||||||
Series C-1 5.00%, 10/1/2011 | 1,800,000 | 1,860,336 | ||||||
Series J-1 5.00%, 8/1/2012 | 5,000,000 | 5,328,250 | ||||||
Series K 5.00%, 8/1/2013 | 5,000,000 | 5,463,800 | ||||||
New York, State Dormitory Authority: | ||||||||
5.00%, 6/15/2012 | 380,000 | 403,780 | ||||||
5.00%, 3/15/2013 | 210,000 | 228,136 | ||||||
5.00%, 3/15/2013 | 700,000 | 760,452 | ||||||
5.00%, 10/1/2013 | 2,500,000 | 2,736,700 | ||||||
5.00%, 2/15/2014 | 1,000,000 | 1,103,730 | ||||||
5.00%, 3/15/2014 | 1,250,000 | 1,383,050 | ||||||
5.00%, 3/15/2014 | 320,000 | 354,061 | ||||||
New York, State Dormitory Authority, Personal Income Tax Revenue: | ||||||||
Series A 5.00%, 3/15/2014 | 3,980,000 | 4,403,631 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Series C 5.00%, 3/15/2012 | $ | 1,950,000 | $ | 2,053,389 | ||||
New York, State Environmental Facilities Revenue: | ||||||||
Series A 3.50%, 12/15/2013 | 2,500,000 | 2,680,125 | ||||||
Series A 5.00%, 12/15/2013 | 2,200,000 | 2,454,012 | ||||||
New York, State General Obligation: | ||||||||
Series A 3.00%, 3/1/2015 | 13,245,000 | 13,911,091 | ||||||
Series C 3.00%, 2/1/2014 | 15,000,000 | 15,682,200 | ||||||
New York, State Local Government Assistance Corp. Revenue: | ||||||||
Series A 5.00%, 4/1/2013 | 8,520,000 | 9,280,495 | ||||||
Series A 5.00%, 4/1/2015 | 3,200,000 | 3,628,640 | ||||||
Series C 5.00%, 4/1/2013 | 2,220,000 | 2,418,157 | ||||||
New York, State Power Authority Revenue Series C 5.00%, 11/15/2014 | 1,625,000 | 1,834,300 | ||||||
New York, State Thruway Authority Personal Income Tax Revenue: | ||||||||
Series A 3.50%, 3/15/2014 | 2,330,000 | 2,469,544 | ||||||
Series A 4.00%, 3/15/2013 | 5,000,000 | 5,323,600 | ||||||
New York, State Thruway Authority, General Revenue: | ||||||||
Series H 4.00%, 1/1/2012 (a) | 1,000,000 | 1,031,760 | ||||||
5.00%, 4/1/2014 | 2,310,000 | 2,532,314 | ||||||
New York, State Thruway Authority, Highway & Bridge Revenue Series B 5.00%, 4/1/2012 (a) | 2,080,000 | 2,190,635 | ||||||
New York, State Urban Development Corp.: | ||||||||
4.00%, 1/1/2012 | 300,000 | 310,071 | ||||||
5.00%, 12/15/2013 | 1,400,000 | 1,561,644 | ||||||
5.00%, 1/1/2014 | 3,695,000 | 4,043,217 | ||||||
New York, State Urban Development Corp. Revenue: | ||||||||
Series A-1 3.00%, 12/15/2011 | 4,625,000 | 4,737,804 | ||||||
Series A-1 3.50%, 12/15/2012 | 1,000,000 | 1,055,180 | ||||||
4.00%, 12/15/2012 | 2,395,000 | 2,550,244 | ||||||
Series A 5.00%, 1/1/2014 | 2,780,000 | 3,041,987 | ||||||
Series A-1 5.00%, 12/15/2012 | 6,580,000 | 7,133,444 | ||||||
Series A-1 5.00%, 1/1/2015 | 7,390,000 | 8,208,886 | ||||||
Series A-2 5.00%, 1/1/2015 | 2,610,000 | 2,899,214 | ||||||
Series B 5.00%, 1/1/2016 | 10,000,000 | 11,225,600 | ||||||
New York, Triborough Bridge & Tunnel Authority Revenue: | ||||||||
Series A-1 4.00%, 11/15/2038 (b) | 20,000,000 | 21,191,200 | ||||||
Series C 5.00%, 11/15/2012 | 1,500,000 | 1,614,975 | ||||||
Suffolk County, NY, General Obligation Series C 4.00%, 10/15/2013 | 500,000 | 540,125 | ||||||
Westchester County, NY, General Obligation Series A 2.00%, 10/15/2013 | 1,245,000 | 1,283,869 | ||||||
226,044,234 | ||||||||
NORTH CAROLINA — 2.3% | ||||||||
Charlotte, NC 5.00%, 8/1/2015 | 550,000 | 630,295 | ||||||
Charlotte, NC, Certificates of Participation 5.00%, 6/1/2014 | 5,455,000 | 6,029,030 | ||||||
Guilford County, NC, General Obligation Series A 4.00%, 2/1/2014 | 6,005,000 | 6,523,892 | ||||||
Mecklenburg County, NC, General Obligation Series A 3.00%, 8/1/2014 | 1,970,000 | 2,085,816 | ||||||
Mecklenburg County, NC, Public Facilities Corp. 5.00%, 3/1/2013 | 2,670,000 | 2,891,770 | ||||||
North Carolina, State Capital Improvement Obligation Series A 4.50%, 5/1/2014 | 1,745,000 | 1,906,866 | ||||||
North Carolina, State General Obligation Series A 5.50%, 3/1/2012 | 5,000,000 | 5,282,250 | ||||||
North Carolina, State Grant & Revenue Anticipation 5.00%, 3/1/2014 | 1,050,000 | 1,160,428 | ||||||
Wake County, NC, General Obligation 5.00%, 3/1/2013 | 3,000,000 | 3,269,370 | ||||||
29,779,717 | ||||||||
OHIO — 3.4% | ||||||||
Cincinnati, OH, City School District Certificates Participation 5.00%, 12/15/2011 (a) | 1,000,000 | 1,038,180 | ||||||
Columbus, OH, General Obligation Series A 4.00%, 6/1/2012 | 10,000,000 | 10,465,000 | ||||||
Ohio, State Building Authority Series C 4.00%, 10/1/2015 | 3,145,000 | 3,426,477 | ||||||
Ohio, State General Obligation: | ||||||||
Series A 5.00%, 6/15/2013 | 1,000,000 | 1,092,790 | ||||||
Series C 5.00%, 9/15/2015 | 10,000,000 | 11,395,400 | ||||||
Series K 5.00%, 5/1/2012 | 1,150,000 | 1,211,502 | ||||||
Ohio, State Highway Capital Improvements 5.00%, 5/1/2014 | 1,975,000 | 2,200,209 | ||||||
Ohio, State Major New State Infrastructure Project Revenue: | ||||||||
5.00%, 6/15/2012 | 375,000 | 398,134 | ||||||
5.00%, 6/15/2015 | 475,000 | 535,952 | ||||||
Series 2007-1 5.00%, 6/15/2013 (a) | 4,960,000 | 5,410,170 | ||||||
Series 2008-1 5.00%, 6/15/2013 | 3,000,000 | 3,272,280 | ||||||
Ohio, State Water Development Authority Revenue: | ||||||||
5.00%, 6/1/2012 | 1,250,000 | 1,324,675 | ||||||
5.00%, 6/1/2013 | 2,670,000 | 2,921,194 | ||||||
44,691,963 | ||||||||
OKLAHOMA — 0.4% | ||||||||
Tulsa County, OK, Industrial Authority, Educational Facilities Lease Revenue 4.00%, 9/1/2013 | 5,410,000 | 5,741,795 | ||||||
OREGON — 1.3% | ||||||||
Portland, OR, Sewer System Revenue: | ||||||||
Series A 5.00%, 6/15/2012 (a) | 3,000,000 | 3,186,420 | ||||||
Series A 5.00%, 6/1/2014 | 315,000 | 352,693 | ||||||
Series A 5.00%, 3/1/2015 | 10,440,000 | 11,838,856 |
See accompanying notes to financial statements.
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SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Salem-Keizer, OR, School District No. 24J, General Obligation Series A 4.00%, 6/15/2015 | $ | 1,250,000 | $ | 1,364,712 | ||||
16,742,681 | ||||||||
PENNSYLVANIA — 3.9% | ||||||||
Pennsylvania Intergovernmental Cooperative Authority, Special Tax Revenue: | ||||||||
5.00%, 6/15/2014 | 2,000,000 | 2,226,280 | ||||||
5.00%, 6/15/2015 | 5,000,000 | 5,641,600 | ||||||
Pennsylvania State Higher Educational Facilities Authority 5.00%, 6/15/2015 | 7,110,000 | 8,006,215 | ||||||
Pennsylvania, Economic Development Financing Authority Revenue Series A 5.00%, 6/15/2014 | 9,175,000 | 10,003,411 | ||||||
Pennsylvania, State General Obligation: | ||||||||
5.00%, 10/1/2012 | 5,000,000 | 5,378,150 | ||||||
5.00%, 5/15/2013 | 3,000,000 | 3,280,770 | ||||||
5.00%, 7/1/2013 | 2,000,000 | 2,194,600 | ||||||
5.00%, 3/15/2014 | 8,920,000 | 9,955,166 | ||||||
Series A 5.00%, 2/15/2015 | 1,000,000 | 1,133,460 | ||||||
5.50%, 1/1/2013 | 2,500,000 | 2,727,225 | ||||||
50,546,877 | ||||||||
RHODE ISLAND — 0.7% | ||||||||
Rhode Island, State & Providence Plantations, Consolidated Capital Development Series A 5.00%, 10/1/2014 | 6,745,000 | 7,566,069 | ||||||
Rhode Island, State Economic Development Corp., Revenue Series A 5.00%, 6/15/2013 (a) | 1,285,000 | 1,392,541 | ||||||
8,958,610 | ||||||||
SOUTH CAROLINA — 1.9% | ||||||||
South Carolina, State General Obligation: | ||||||||
Series A 4.00%, 6/1/2015 | 15,000,000 | 16,538,850 | ||||||
Series A 5.00%, 11/1/2013 | 1,120,000 | 1,245,014 | ||||||
South Carolina, State Public Service Authority, Revenue: | ||||||||
Series B 5.00%, 1/1/2013 | 2,000,000 | 2,165,420 | ||||||
Series B 5.00%, 1/1/2014 (a) | 2,500,000 | 2,767,200 | ||||||
Series C 5.00%, 1/1/2015 (a) | 1,000,000 | 1,130,050 | ||||||
Series E 5.00%, 1/1/2014 | 1,000,000 | 1,106,880 | ||||||
24,953,414 | ||||||||
TENNESSEE — 1.4% | ||||||||
Memphis, TN, Electric System Revenue 5.00%, 12/1/2014 | 3,500,000 | 3,943,065 | ||||||
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board 5.00%, 10/1/2014 | 1,000,000 | 1,126,770 | ||||||
Murfreesboro, TN, General Obligation 5.00%, 6/1/2013 | 1,500,000 | 1,638,870 | ||||||
Nashville & Davidson County, TN, General Obligation Series C 5.00%, 2/1/2013 | 1,000,000 | 1,085,490 | ||||||
Sevierville, TN, Public Building Authority Revenue 5.00%, 6/1/2014 | 1,000,000 | 1,105,930 | ||||||
Tennessee, State General Obligation Series A 4.00%, 5/1/2013 | 150,000 | 160,840 | ||||||
Tennessee, State School Bond Authority: | ||||||||
3.00%, 5/1/2012 | 4,875,000 | 5,027,539 | ||||||
3.00%, 5/1/2014 | 1,950,000 | 2,058,732 | ||||||
5.00%, 5/1/2013 (a) | 1,900,000 | 2,071,703 | ||||||
18,218,939 | ||||||||
TEXAS — 7.3% | ||||||||
Arlington, TX, Independent School District, General Obligation: | ||||||||
5.00%, 2/15/2012 (a) | 980,000 | 1,028,236 | ||||||
5.00%, 2/15/2014 (a) | 1,640,000 | 1,829,732 | ||||||
Dallas County, TX, Community College District, General Obligation 5.00%, 2/15/2014 | 1,340,000 | 1,488,941 | ||||||
Dallas, TX, General Obligation: | ||||||||
5.00%, 2/15/2011 | 710,000 | 713,692 | ||||||
5.00%, 2/15/2012 | 150,000 | 157,332 | ||||||
5.00%, 2/15/2013 | 1,000,000 | 1,083,120 | ||||||
5.00%, 10/1/2014 | 455,000 | 513,745 | ||||||
Dallas, TX, Independent School District, General Obligation 5.00%, 2/15/2013 | 1,000,000 | 1,082,030 | ||||||
El Paso, TX, Independent School District, General Obligation Zero Coupon, 8/15/2013 (a) | 1,980,000 | 1,909,670 | ||||||
Fort Bend, TX, Independent School District, General Obligation 4.00%, 2/15/2013 | 1,000,000 | 1,061,210 | ||||||
Fort Worth, TX, Independent School District, General Obligation: | ||||||||
5.00%, 2/15/2012 | 5,000,000 | 5,245,550 | ||||||
5.00%, 2/15/2013 | 2,000,000 | 2,171,520 | ||||||
Harris County, TX, General Obligation Series A 5.00%, 10/1/2012 | 1,515,000 | 1,631,231 | ||||||
Houston, TX, General Obligation Series A 5.00%, 3/1/2013 (a) | 2,500,000 | 2,708,225 | ||||||
Houston, TX, Utilities System Revenue Series C 5.00%, 11/15/2012 | 12,505,000 | 13,451,378 | ||||||
Lamar, TX, Consolidated Independent School District, General Obligation 5.00%, 2/15/2013 (a) | 4,535,000 | 4,928,910 | ||||||
Lewisville, TX, Independent School District, General Obligation 5.00%, 8/15/2013 (a) | 1,000,000 | 1,100,920 | ||||||
Northside Independent School District 1.50%, 8/1/2040 | 1,100,000 | 1,106,842 | ||||||
Pharr, TX, San Juan Alamo Independent School District, General Obligation 5.00%, 2/1/2013 (a) | 1,880,000 | 2,036,266 |
See accompanying notes to financial statements.
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SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
San Antonio, TX, Electric and Gas Series A 5.00%, 2/1/2014 | $ | 200,000 | $ | 221,830 | ||||
San Antonio, TX, General Obligation: | ||||||||
4.00%, 2/1/2012 | 3,000,000 | 3,111,480 | ||||||
5.50%, 2/1/2015 | 1,000,000 | 1,149,740 | ||||||
San Jacinto, TX Community College District, General Obligation 4.00%, 2/15/2012 | 3,000,000 | 3,096,450 | ||||||
Texas State University Systems 5.00%, 3/15/2015 | 400,000 | 451,480 | ||||||
Texas, A&M University Revenue 5.00%, 5/15/2012 | 3,000,000 | 3,176,100 | ||||||
Texas, State General Obligation: | ||||||||
5.00%, 10/1/2012 | 1,500,000 | 1,611,000 | ||||||
5.00%, 10/1/2015 | 3,495,000 | 3,993,911 | ||||||
5.00%, 10/1/2015 | 8,000,000 | 9,142,000 | ||||||
Series A 5.00%, 10/1/2014 | 1,180,000 | 1,330,049 | ||||||
Texas, State Public Finance Authority Revenue: | ||||||||
4.00%, 7/1/2013 | 6,670,000 | 7,136,767 | ||||||
5.00%, 2/1/2014 (a) | 1,605,000 | 1,772,530 | ||||||
Texas, State Transportation Commission 5.00%, 4/1/2013 | 200,000 | 218,086 | ||||||
Texas, State University System Financing Revenue 5.00%, 3/15/2012 | 1,000,000 | 1,051,790 | ||||||
University of Texas, Revenue: | ||||||||
Series A 3.25%, 8/15/2013 | 2,650,000 | 2,803,991 | ||||||
4.00%, 8/15/2012 | 200,000 | 210,356 | ||||||
Series A 5.00%, 8/15/2012 | 3,400,000 | 3,630,384 | ||||||
Series A 5.00%, 8/15/2015 | 3,100,000 | 3,544,385 | ||||||
Series B 5.00%, 8/15/2012 | 1,000,000 | 1,067,760 | ||||||
Series D 5.00%, 8/15/2015 | 1,150,000 | 1,314,852 | ||||||
95,283,491 | ||||||||
UTAH — 0.6% | ||||||||
Utah, State General Obligation: | ||||||||
Series A 5.00%, 7/1/2013 | 1,150,000 | 1,265,782 | ||||||
Series A 5.00%, 7/1/2015 | 6,000,000 | 6,885,840 | ||||||
Series C 5.00%, 7/1/2015 | 150,000 | 172,146 | ||||||
8,323,768 | ||||||||
VIRGINIA — 2.2% | ||||||||
Virginia, College Building Authority Revenue Series A 5.00%, 9/1/2014 | 150,000 | 168,091 | ||||||
Virginia, State General Obligation Series A 5.00%, 6/1/2012 | 1,000,000 | 1,061,920 | ||||||
Virginia, State Public Building Authority, Building Revenue Bonds: | ||||||||
Series A 5.00%, 8/1/2012 | 7,365,000 | 7,867,735 | ||||||
Series B 5.00%, 8/1/2013 | 5,000,000 | 5,491,850 | ||||||
Series B 5.00%, 8/1/2014 | 1,000,000 | 1,119,430 | ||||||
Virginia, State Public School Authority: | ||||||||
Series B 5.00%, 8/1/2012 | 1,000,000 | 1,067,930 | ||||||
Series B 5.00%, 8/1/2014 | 2,025,000 | 2,275,108 | ||||||
Series C 5.00%, 8/1/2013 | 8,570,000 | 9,426,829 | ||||||
28,478,893 | ||||||||
WASHINGTON — 4.0% | ||||||||
Energy Northwest Washington, Electricity Revenue: | ||||||||
Series A 4.00%, 7/1/2014 | 1,375,000 | 1,491,421 | ||||||
Series A 5.00%, 7/1/2012 | 1,090,000 | 1,158,463 | ||||||
Series A 5.00%, 7/1/2013 | 4,495,000 | 4,920,721 | ||||||
Series D 5.00%, 7/1/2012 | 1,000,000 | 1,062,810 | ||||||
Series D 5.00%, 7/1/2012 | 3,850,000 | 4,091,819 | ||||||
Series D 5.00%, 7/1/2014 | 850,000 | 950,759 | ||||||
King County, WA, School District No 1 Series A 5.00%, 6/1/2013 | 1,250,000 | 1,365,100 | ||||||
Seattle, WA, General Obligation 5.00%, 5/1/2013 | 6,540,000 | 7,135,729 | ||||||
Seattle, WA, Municipal Light & Power Revenue: | ||||||||
5.00%, 4/1/2013 | 3,000,000 | 3,260,790 | ||||||
Series B 5.00%, 2/1/2015 | 7,540,000 | 8,505,346 | ||||||
Snohomish County, WA, Public Utility Revenue 4.00%, 12/1/2013 | 3,625,000 | 3,891,329 | ||||||
Washington, State General Obligation: | ||||||||
Series D 4.50%, 1/1/2012 (a) | 2,450,000 | 2,548,049 | ||||||
Series R 5.00%, 1/1/2015 | 10,500,000 | 11,835,180 | ||||||
Series R-2006A 5.00%, 7/1/2011 | — | — | ||||||
52,217,516 | ||||||||
WISCONSIN — 2.4% | ||||||||
Milwaukee, WI, General Obligation 5.00%, 2/1/2015 | 11,825,000 | 13,393,823 | ||||||
Wisconsin, State General Obligation: | ||||||||
3.00%, 5/1/2013 | 1,000,000 | 1,045,080 | ||||||
Series C 4.00%, 5/1/2013 | 5,000,000 | 5,339,850 | ||||||
Series C 5.00%, 5/1/2015 | 10,000,000 | 11,333,600 | ||||||
31,112,353 | ||||||||
TOTAL MUNICIPAL BONDS & NOTES — | ||||||||
(Cost $1,286,584,218) | 1,293,463,992 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENT — 0.3% | ||||||||
MONEY MARKET FUND — 0.3% | ||||||||
State Street Institutional Tax Free Money Market Fund 0.11% (d)(e)(f) | ||||||||
(Cost $3,355,554) | 3,355,554 | 3,355,554 | ||||||
TOTAL INVESTMENTS — 99.7% (g) | ||||||||
(Cost $1,289,939,772) | 1,296,819,546 | |||||||
OTHER ASSETS & LIABILITIES — 0.3% | 3,814,626 | |||||||
NET ASSETS — 100.0% | $ | 1,300,634,172 | ||||||
See accompanying notes to financial statements.
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SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
(a) | Bond is insured by one of these companies: | |||||
As a % of | ||||||
Insurance Coverage | Net Assets | |||||
Assured Guaranty Municipal Corp. | 4.67 | % | ||||
National Public Finance Guarantee Corp. | 1.73 | % | ||||
Permanent School Fund Guaranteed | 0.99 | % | ||||
Ambac Financial Group | 0.98 | % | ||||
(b) | Variable-rate security. Rate shown is rate in effect at December 31, 2010. Maturity date disclosed is the ultimate maturity. | |||||
(c) | Securities are valued at fair value as determined in good faith by Trust’s Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. Security value is determined based on Level 2 inputs. | |||||
(d) | Value is determined based on Level 1 inputs. (Note 2) | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
See accompanying notes to financial statements.
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SPDR Nuveen S&P VRDO Municipal Bond ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
MUNICIPAL BONDS & NOTES — 99.7% | ||||||||
ARIZONA — 4.5% | ||||||||
Arizona, Sports & Tourism Authority, Revenue 3.50%, 7/1/2036 (a) | $ | 400,000 | $ | 400,000 | ||||
CALIFORNIA — 19.0% | ||||||||
California, Eastern Municipal Water District, Certificates of Participation 0.34%, 7/1/2038 (a) | 400,000 | 400,000 | ||||||
California, Infrastructure & Economic Development Bank Revenue Series B 4.10%, 8/1/2037 (a) | 250,000 | 250,000 | ||||||
California, Statewide Communities Development Authority Revenue: | ||||||||
4.00%, 10/1/2036 (a) | 400,000 | 400,000 | ||||||
4.20%, 4/1/2033 (a) | 400,000 | 400,000 | ||||||
University of San Francisco, Educational Facilities Authority Revenue 3.25%, 5/1/2033 (a) | 260,000 | 260,000 | ||||||
1,710,000 | ||||||||
COLORADO — 11.2% | ||||||||
Centerra, CO, Metropolitan District No 1 0.32%, 12/1/2029 (a) | 370,000 | 370,000 | ||||||
City & County of Denver Co. 0.32%, 11/15/2022 (a) | 100,000 | 100,000 | ||||||
Colorado, Fitzsimons Redevelopment Authority Revenue 0.34%, 1/1/2025 (a) | 535,000 | 535,000 | ||||||
1,005,000 | ||||||||
ILLINOIS — 9.2% | ||||||||
Chicago, IL, Board of Education, General Obligation Series B 0.45%, 3/1/2032 (a)(b) | 430,000 | 430,000 | ||||||
Illinois, State Toll Highway Authority Revenue Series A 0.35%, 7/1/2030 (a) | 400,000 | 400,000 | ||||||
830,000 | ||||||||
MASSACHUSETTS — 4.5% | ||||||||
Massachusetts, State Water Resources Authority Revenue Series B 0.32%, 8/1/2031 (a) | 400,000 | 400,000 | ||||||
NEBRASKA — 1.1% | ||||||||
Nebraska, Central Plains Energy Project 0.34%, 8/1/2039 (a) | 100,000 | 100,000 | ||||||
NEW YORK — 7.8% | ||||||||
New York City, NY, Transitional Finance Authority Revenue Series 3 0.43%, 11/1/2022 (a) | 400,000 | 400,000 | ||||||
New York, NY, General Obligation Series H 0.35%, 8/1/2015 (a)(b) | 300,000 | 300,000 | ||||||
700,000 | ||||||||
NORTH CAROLINA — 4.4% | ||||||||
Charlotte, NC, Health Care Systems Revenue Series F 0.46%, 1/15/2042 (a)(b) | 400,000 | 400,000 | ||||||
OHIO — 18.2% | ||||||||
Hancock County, OH, Hospital Revenue 0.95%, 12/1/2034 (a)(b) | 375,000 | 375,000 | ||||||
Montgomery County, OH, Hospital Revenue Series A 0.45%, 8/1/2047 (a)(b) | 400,000 | 400,000 | ||||||
Ohio, State Higher Educational Facility Commission Revenue 1.00%, 9/1/2036 (a) | 485,000 | 485,000 | ||||||
Ohio, State University, General Reciepts 0.58%, 12/1/2026 (a)(b) | 380,000 | 380,000 | ||||||
1,640,000 | ||||||||
PENNSYLVANIA — 4.4% | ||||||||
La Salle University, PA, Higher Educational Facilties Authority Revenue Series B 0.42%, 5/1/2037 (a) | 300,000 | 300,000 | ||||||
Lower Merion, PA, School District General Obligation Series B 0.31%, 4/1/2027 (a) | 100,000 | 100,000 | ||||||
400,000 | ||||||||
TENNESSEE — 6.5% | ||||||||
Metropolitan Government Nashville & Davidson County, TN, Industrial Development Board Revenue 0.41%, 12/1/2031 (a) | 187,000 | 187,000 | ||||||
Signal Mountain, TN, Health, Educational & Housing Facility Board Revenue 0.50%, 1/1/2028 (a)(b) | 400,000 | 400,000 | ||||||
587,000 | ||||||||
TEXAS — 8.9% | ||||||||
Harris County, TX, Cultural Education Facilities Finance Corp. Revenue Series C 0.33%, 6/1/2024 (a) | 300,000 | 300,000 | ||||||
Katy, TX, Independent School District Series C 0.35%, 8/15/2036 (a) | 100,000 | 100,000 | ||||||
Texas, State General Obligation Series B 1.30%, 4/1/2030 (a) | 400,000 | 400,000 | ||||||
800,000 | ||||||||
TOTAL MUNICIPAL BONDS & NOTES — | ||||||||
(Cost $8,972,000) | 8,972,000 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENT — 0.3% | ||||||||
MONEY MARKET FUND — 0.3% | ||||||||
State Street Institutional Tax Free Money Market Fund 0.11% (c)(d)(e) (Cost $30,828) | 30,828 | 30,828 | ||||||
TOTAL INVESTMENTS — 100.0% (f) | ||||||||
(Cost $9,002,828) | 9,002,828 | |||||||
OTHER ASSETS & LIABILITIES — 0.0% (g) | (573 | ) | ||||||
NET ASSETS — 100.0% | $ | 9,002,255 | ||||||
See accompanying notes to financial statements.
112
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SPDR Nuveen S&P VRDO Municipal Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
(a) | Variable Rate Security. Rate shown is the rate in effect at December 31, 2010. Maturity date disclosed is the ultimate maturity. | |||||
(b) | Bond is insured by one of these companies: | |||||
As a % of | ||||||
Insurance Coverage | Net Assets | |||||
Assured Guaranty Municipal Corp. | 26.49 | % | ||||
Ambac Financial Group | 3.33 | % | ||||
(c) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(d) | Value is determined based on Level 1 inputs. (Note 2) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) | |||||
(g) | Amount shown represents less than 0.05% of net assets. |
See accompanying notes to financial statements.
113
Table of Contents
SPDR Nuveen Barclays Capital Build America Bond ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
MUNICIPAL BONDS & NOTES — 98.6% | ||||||||
ARIZONA — 0.9% | ||||||||
Arizona, Salt River Project, Agricultural Improvement & Power District 4.84%, 1/1/2041 | $ | 225,000 | $ | 204,977 | ||||
Phoenix, AZ, General Obligation 5.27%, 7/1/2034 | 100,000 | 97,611 | ||||||
302,588 | ||||||||
CALIFORNIA — 36.6% | ||||||||
California, State General Obligation: | ||||||||
5.70%, 11/1/2021 | 200,000 | 192,896 | ||||||
6.65%, 3/1/2022 | 500,000 | 519,570 | ||||||
7.30%, 10/1/2039 | 800,000 | 805,680 | ||||||
7.35%, 11/1/2039 | 200,000 | 202,572 | ||||||
7.50%, 4/1/2034 | 600,000 | 620,850 | ||||||
7.55%, 4/1/2039 | 1,025,000 | 1,063,068 | ||||||
7.63%, 3/1/2040 | 275,000 | 286,938 | ||||||
7.70%, 11/1/2030 | 1,550,000 | 1,560,912 | ||||||
7.95%, 3/1/2036 | 325,000 | 333,323 | ||||||
California, State Public Works Board, Lease Revenue 8.36%, 10/1/2034 | 100,000 | 101,119 | ||||||
East Bay, CA, Municipal Utility District, Water System Revenue 5.87%, 6/1/2040 | 200,000 | 195,364 | ||||||
Los Angeles County, CA, Metropolitan Transportation Authority 5.74%, 6/1/2039 | 200,000 | 190,226 | ||||||
Los Angeles County, CA, Public Works Financing Authority 7.49%, 8/1/2033 | 100,000 | 98,205 | ||||||
Los Angeles, CA, Community College District, General Obligation: | ||||||||
6.60%, 8/1/2042 | 250,000 | 253,340 | ||||||
6.75%, 8/1/2049 | 200,000 | 206,398 | ||||||
Los Angeles, CA, Department of Airports 7.05%, 5/15/2040 | 100,000 | 101,396 | ||||||
Los Angeles, CA, Department of Water & Power Revenue: | ||||||||
5.72%, 7/1/2039 | 200,000 | 182,096 | ||||||
6.17%, 7/1/2040 | 100,000 | 94,416 | ||||||
6.57%, 7/1/2045 | 250,000 | 254,975 | ||||||
6.60%, 7/1/2050 | 150,000 | 154,569 | ||||||
Los Angeles, CA, Department of Water & Power Waterworks Revenue 6.01%, 7/1/2039 | 100,000 | 94,298 | ||||||
Los Angeles, CA, Unified School District, General Obligation: | ||||||||
5.75%, 7/1/2034 | 425,000 | 396,963 | ||||||
5.76%, 7/1/2029 | 200,000 | 189,638 | ||||||
6.76%, 7/1/2034 | 525,000 | 543,758 | ||||||
Metropolitan Water District of Southern California 6.95%, 7/1/2040 | 100,000 | 103,529 | ||||||
Orange County, CA, Local Transportation Authority 6.91%, 2/15/2041 | 150,000 | 156,213 | ||||||
Sacramento, CA, Municipal Utility District 6.16%, 5/15/2036 | 50,000 | 47,304 | ||||||
San Diego County, CA, Regional Transportation Commission 5.91%, 4/1/2048 | 200,000 | 196,400 | ||||||
San Diego County, CA, Water Authority Revenue 6.14%, 5/1/2049 | 275,000 | 275,382 | ||||||
San Francisco, CA, Bay Area Toll Authority, Toll Bridge Revenue: | ||||||||
6.26%, 4/1/2049 | 580,000 | 573,081 | ||||||
6.79%, 4/1/2030 | 200,000 | 200,568 | ||||||
6.91%, 10/1/2050 | 150,000 | 150,374 | ||||||
6.92%, 4/1/2040 | 350,000 | 352,460 | ||||||
San Francisco, CA, City & County Public Utilities Commission, Water Revenue: | ||||||||
6.00%, 11/1/2040 | 100,000 | 94,716 | ||||||
6.00%, 11/1/2040 | 125,000 | 118,880 | ||||||
6.95%, 11/1/2050 | 200,000 | 206,050 | ||||||
Santa Clara Valley, CA, Transportation Authority 5.88%, 4/1/2032 | 195,000 | 190,572 | ||||||
University of California, Revenue: | ||||||||
5.77%, 5/15/2043 | 250,000 | 235,550 | ||||||
5.95%, 5/15/2045 | 150,000 | 137,021 | ||||||
6.55%, 5/15/2048 | 250,000 | 243,882 | ||||||
6.58%, 5/15/2049 | 300,000 | 293,271 | ||||||
12,217,823 | ||||||||
COLORADO — 0.9% | ||||||||
Colorado, Bridge Enterprise Revenue Series A 6.08%, 12/1/2040 | 100,000 | 100,634 | ||||||
Colorado, Regional Transportation District, Sales Tax Revenue 5.84%, 11/1/2050 | 100,000 | 99,645 | ||||||
Denver, CO, General Obligation 5.65%, 8/1/2030 | 100,000 | 97,128 | ||||||
297,407 | ||||||||
CONNECTICUT — 0.9% | ||||||||
State of Connecticut: | ||||||||
5.09%, 10/1/2030 | 200,000 | 188,958 | ||||||
5.63%, 12/1/2029 | 125,000 | 126,003 | ||||||
314,961 | ||||||||
DISTRICT OF COLUMBIA — 1.2% | ||||||||
District of Columbia, Income Tax Revenue: | ||||||||
5.58%, 12/1/2035 | 100,000 | 101,161 | ||||||
5.59%, 12/1/2034 | 200,000 | 199,568 | ||||||
District of Columbia, Water & Sewer Authority Revenue 5.52%, 10/1/2044 | 100,000 | 92,776 | ||||||
393,505 | ||||||||
GEORGIA — 3.5% | ||||||||
Georgia, Municipal Electric Authority Revenue: | ||||||||
6.64%, 4/1/2057 | 500,000 | 488,750 | ||||||
6.66%, 4/1/2057 | 425,000 | 411,068 | ||||||
7.06%, 4/1/2057 | 175,000 | 160,738 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Georgia, State General Obligation 4.50%, 11/1/2025 | $ | 100,000 | $ | 98,683 | ||||
1,159,239 | ||||||||
ILLINOIS — 5.2% | ||||||||
Chicago, IL, Metropolitan Water Reclamation District, General Obligation 5.72%, 12/1/2038 | 300,000 | 298,068 | ||||||
Chicago, IL, O’Hare International Airport Revenue 6.40%, 1/1/2040 | 300,000 | 283,119 | ||||||
Chicago, IL, Transit Authority 6.20%, 12/1/2040 | 200,000 | 182,370 | ||||||
Chicago, IL, Waste Water Transmission Revenue 6.90%, 1/1/2040 | 100,000 | 101,222 | ||||||
Chicago, IL, Water Revenue 6.74%, 11/1/2040 | 50,000 | 48,765 | ||||||
County of Cook, IL, General Obligation 6.23%, 11/15/2034 | 100,000 | 95,347 | ||||||
Illinois, State General Obligation: | ||||||||
6.63%, 2/1/2035 | 60,000 | 54,540 | ||||||
7.35%, 7/1/2035 | 450,000 | 440,766 | ||||||
Illinois, State Toll Highway Authority Revenue 5.85%, 12/1/2034 | 245,000 | 229,805 | ||||||
1,734,002 | ||||||||
INDIANA — 0.3% | ||||||||
Indianapolis, IN, Local Public Improvement Bond Bank 6.12%, 1/15/2040 | 100,000 | 103,878 | ||||||
KANSAS — 0.2% | ||||||||
Kansas, State Department of Transportation, Highway Revenue 4.60%, 9/1/2035 | 75,000 | 68,456 | ||||||
KENTUCKY — 0.3% | ||||||||
Louisville & Jefferson County, KY, Metropolitan Sewer District 6.25%, 5/15/2043 | 100,000 | 99,888 | ||||||
LOUISIANA — 0.3% | ||||||||
East Baton Rouge, LA, Sewer Commission Revenue 6.09%, 2/1/2045 | 100,000 | 96,245 | ||||||
MASSACHUSETTS — 2.7% | ||||||||
Massachusetts, State General Obligation: | ||||||||
Series E 4.20%, 12/1/2021 | 200,000 | 197,040 | ||||||
4.91%, 5/1/2029 | 200,000 | 186,488 | ||||||
5.46%, 12/1/2039 | 250,000 | 250,633 | ||||||
Massachusetts, State School Building Authority Revenue 5.72%, 8/15/2039 | 175,000 | 181,571 | ||||||
Massachusetts, State Water Pollution Abatement Trust 5.19%, 8/1/2040 | 100,000 | 95,670 | ||||||
911,402 | ||||||||
MISSISSIPPI — 0.4% | ||||||||
Mississippi, State General Obligation 5.25%, 11/1/2034 | 125,000 | 119,578 | ||||||
MISSOURI — 1.0% | ||||||||
Missouri, State Highways & Transportation Commission, State Road Revenue 5.45%, 5/1/2033 | 130,000 | 127,045 | ||||||
University of Missouri, Revenue: | ||||||||
5.79%, 11/1/2041 | 100,000 | 103,399 | ||||||
5.96%, 11/1/2039 | 85,000 | 87,616 | ||||||
318,060 | ||||||||
NEVADA — 1.0% | ||||||||
Clark County, NV, Airport Revenue 6.88%, 7/1/2042 | 325,000 | 320,593 | ||||||
Las Vegas Valley, NV, Water District, General Obligation 7.01%, 6/1/2039 | 25,000 | 26,060 | ||||||
346,653 | ||||||||
NEW JERSEY — 6.8% | ||||||||
New Jersey, State Transportation Trust Revenue: | ||||||||
5.75%, 12/15/2028 | 240,000 | 231,367 | ||||||
6.10%, 12/15/2028 | 225,000 | 219,708 | ||||||
6.56%, 12/15/2040 | 265,000 | 266,842 | ||||||
New Jersey, State Turnpike Authority Revenue: | ||||||||
7.10%, 1/1/2041 | 750,000 | 812,872 | ||||||
7.41%, 1/1/2040 | 570,000 | 625,632 | ||||||
Rutgers University, Revenue 5.67%, 5/1/2040 | 100,000 | 99,254 | ||||||
2,255,675 | ||||||||
NEW YORK — 14.6% | ||||||||
New York, NY, City Municipal Water Finance Authority, Water & Sewer System Revenue: | ||||||||
5.44%, 6/15/2043 | 300,000 | 282,729 | ||||||
5.72%, 6/15/2042 | 300,000 | 289,269 | ||||||
5.75%, 6/15/2041 | 300,000 | 296,286 | ||||||
5.95%, 6/15/2042 | 150,000 | 152,888 | ||||||
6.01%, 6/15/2042 | 50,000 | 49,955 | ||||||
6.28%, 6/15/2042 | 100,000 | 99,514 | ||||||
New York, NY, City Transitional Finance Authority Revenue: | ||||||||
5.51%, 8/1/2037 | 250,000 | 240,687 | ||||||
5.57%, 11/1/2038 | 200,000 | 193,774 | ||||||
6.83%, 7/15/2040 | 150,000 | 152,775 | ||||||
New York, NY, General Obligation: | ||||||||
5.85%, 6/1/2040 | 200,000 | 191,544 | ||||||
5.99%, 12/1/2036 | 265,000 | 267,337 | ||||||
6.25%, 6/1/2035 | 150,000 | 146,825 | ||||||
6.27%, 12/1/2037 | 300,000 | 312,351 | ||||||
6.65%, 12/1/2031 | 100,000 | 100,873 | ||||||
New York, NY, Metropolitan Transportation Authority Revenue: | ||||||||
6.09%, 11/15/2040 | 200,000 | 195,178 | ||||||
6.67%, 11/15/2039 | 125,000 | 124,995 | ||||||
6.69%, 11/15/2040 | 100,000 | 100,099 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
6.81%, 11/15/2040 | $ | 300,000 | $ | 308,793 | ||||
New York, NY, Metropolitan Transportation Authority, Dedicated Tax Fund 7.34%, 11/15/2039 | 430,000 | 474,324 | ||||||
New York, State Dormitory Authority, State Personal Income Tax Revenue: | ||||||||
5.43%, 3/15/2039 | 255,000 | 236,191 | ||||||
5.60%, 3/15/2040 | 350,000 | 344,088 | ||||||
New York, State Urban Development Corp., Revenue 5.77%, 3/15/2039 | 325,000 | 321,412 | ||||||
4,881,887 | ||||||||
NORTH CAROLINA — 0.1% | ||||||||
North Carolina, Turnkpike Authority Revenue Series B 6.70%, 1/1/2039 | 30,000 | 31,210 | ||||||
OHIO — 4.1% | ||||||||
Ohio State University, General Receipts Revenue 4.91%, 6/1/2040 | 320,000 | 289,712 | ||||||
Ohio, American Municipal Power, Inc.: | ||||||||
5.94%, 2/15/2047 | 325,000 | 295,597 | ||||||
7.50%, 2/15/2050 | 100,000 | 103,053 | ||||||
7.83%, 2/15/2041 | 350,000 | 378,392 | ||||||
8.08%, 2/15/2050 | 100,000 | 106,460 | ||||||
Ohio, Northeast Regional Sewer District 6.04%, 11/15/2040 | 100,000 | 98,503 | ||||||
Ohio, State Water Development Authority, Water Quality Loan Fund 4.88%, 12/1/2034 | 100,000 | 95,483 | ||||||
1,367,200 | ||||||||
OREGON — 0.2% | ||||||||
Oregon, State Department of Transportation Revenue 5.83%, 11/15/2034 | 80,000 | 81,481 | ||||||
PENNSYLVANIA — 2.1% | ||||||||
Pennsylvania Turnpike Commission 5.56%, 12/1/2049 | 125,000 | 107,992 | ||||||
Pennsylvania, State General Obligation: | ||||||||
4.65%, 2/15/2026 | 165,000 | 158,671 | ||||||
5.35%, 5/1/2030 | 100,000 | 97,422 | ||||||
5.85%, 7/15/2030 | 150,000 | 151,155 | ||||||
Pennsylvania, Turnpike Commission Revenue: | ||||||||
5.51%, 12/1/2045 | 175,000 | 155,167 | ||||||
6.11%, 12/1/2039 | 35,000 | 34,307 | ||||||
704,714 | ||||||||
PUERTO RICO — 0.3% | ||||||||
Puerto Rico, Electric Power Authority Revenue 6.13%, 7/1/2040 | 100,000 | 97,829 | ||||||
SOUTH CAROLINA — 0.5% | ||||||||
South Carolina, State Public Service Authority Revenue Series C 6.45%, 1/1/2050 | 150,000 | 154,007 | ||||||
TENNESSEE — 0.4% | ||||||||
Nashville & Davidson County, TN, Convention Center Authority Revenue 6.73%, 7/1/2043 | 150,000 | 147,708 | ||||||
TEXAS — 10.3% | ||||||||
Dallas County, TX, Hospital District General Obligation 5.62%, 8/15/2044 | 150,000 | 151,797 | ||||||
Dallas, TX, Area Rapid Transit, Sales Tax Revenue: | ||||||||
4.92%, 12/1/2041 | 115,000 | 102,119 | ||||||
5.02%, 12/1/2048 | 125,000 | 110,536 | ||||||
6.00%, 12/1/2044 | 350,000 | 362,982 | ||||||
6.25%, 12/1/2034 | 100,000 | 101,915 | ||||||
Dallas, TX, Convention Center Hotel Development Corp. 7.09%, 1/1/2042 | 175,000 | 176,202 | ||||||
Dallas, TX, Independent School District 6.45%, 2/15/2035 | 225,000 | 234,603 | ||||||
North, TX, Tollway Authority Revenue: | ||||||||
6.72%, 1/1/2049 | 300,000 | 293,700 | ||||||
8.91%, 2/1/2030 | 60,000 | 61,391 | ||||||
San Antonio, TX, Electric & Gas Revenue: | ||||||||
5.72%, 2/1/2041 | 100,000 | 101,931 | ||||||
5.99%, 2/1/2039 | 195,000 | 199,310 | ||||||
Texas, State General Obligation 5.52%, 4/1/2039 | 370,000 | 376,801 | ||||||
Texas, State Transportation Commission, General Obligation: | ||||||||
4.63%, 4/1/2033 | 100,000 | 92,198 | ||||||
4.68%, 4/1/2040 | 150,000 | 136,536 | ||||||
5.03%, 4/1/2026 | 390,000 | 386,825 | ||||||
Texas, State Transportation Commission, Revenue Series B 5.18%, 4/1/2030 | 150,000 | 148,599 | ||||||
University of Texas, Revenue: | ||||||||
5.13%, 8/15/2042 | 210,000 | 201,732 | ||||||
5.26%, 7/1/2039 | 200,000 | 194,240 | ||||||
3,433,417 | ||||||||
UTAH — 1.4% | ||||||||
Utah, State General Obligation: | ||||||||
3.54%, 7/1/2025 | 300,000 | 271,731 | ||||||
4.55%, 7/1/2024 | 100,000 | 101,180 | ||||||
Utah, Transport Authority Sales Tax Revenue 5.94%, 6/15/2039 | 100,000 | 105,126 | ||||||
478,037 | ||||||||
VIRGINIA — 0.8% | ||||||||
University of Virginia, Revenue 6.20%, 9/1/2039 | 100,000 | 111,488 | ||||||
Virginia, Commonwealth Transportation Board Revenue 5.35%, 5/15/2035 | 145,000 | 141,903 | ||||||
253,391 | ||||||||
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
WASHINGTON — 1.6% | ||||||||
Central Puget Sound, WA, Regional Transit Authority, Sales & Use Tax Revenue 5.49%, 11/1/2039 | $ | 125,000 | $ | 124,888 | ||||
Washington, State Convention Center Public Facilities Revenue 6.79%, 7/1/2040 | 100,000 | 97,673 | ||||||
Washington, State General Obligation 5.14%, 8/1/2040 | 325,000 | 310,550 | ||||||
533,111 | ||||||||
TOTAL MUNICIPAL BONDS & NOTES — | ||||||||
(Cost $34,167,546) | 32,903,352 | |||||||
U.S. TREASURY OBLIGATIONS — 0.4% | ||||||||
Treasury Bonds 4.25%, 11/15/2040 (Cost $117,894) | 125,000 | 122,969 | ||||||
Shares | ||||||||
SHORT TERM INVESTMENT — 0.1% | ||||||||
MONEY MARKET FUND — 0.1% | ||||||||
State Street Institutional Liquid Reserves Fund 0.18% (a)(b)(c) (Cost $40,995) | 40,995 | 40,995 | ||||||
TOTAL INVESTMENTS — 99.1% (d) | ||||||||
(Cost $34,326,435) | 33,067,316 | |||||||
OTHER ASSETS & LIABILITIES — 0.9% | 301,180 | |||||||
NET ASSETS — 100.0% | $ | 33,368,496 | ||||||
(a) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(b) | Value is determined based on Level 1 inputs. (Note 2) | |||||
(c) | The rate shown is the annualized seven-day yield at period end. | |||||
(d) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
FOREIGN GOVERNMENT OBLIGATIONS — 99.3% | ||||||||
AUSTRALIA — 3.9% | ||||||||
Commonwealth of Australia: | ||||||||
3.00%, 9/20/2025 | AUD | 9,378,996 | $ | 9,861,642 | ||||
4.00%, 8/20/2015 | AUD | 5,409,782 | 5,817,549 | |||||
4.00%, 8/20/2020 | AUD | 16,700,347 | 18,864,960 | |||||
34,544,151 | ||||||||
BRAZIL — 4.8% | ||||||||
Federal Republic of Brazil: | ||||||||
6.00%, 5/15/2017 | BRL | 39,108,835 | 23,676,628 | |||||
6.00%, 8/15/2024 | BRL | 23,716,674 | 14,578,636 | |||||
6.00%, 5/15/2035 | BRL | 7,533,300 | 4,760,045 | |||||
43,015,309 | ||||||||
CANADA — 4.8% | ||||||||
Government of Canada: | ||||||||
2.00%, 12/1/2041 | CAD | 6,005,397 | 7,379,070 | |||||
3.00%, 12/1/2036 | CAD | 5,819,512 | 8,247,822 | |||||
4.00%, 12/1/2031 | CAD | 6,685,979 | 10,360,525 | |||||
4.25%, 12/1/2021 | CAD | 6,273,498 | 8,465,236 | |||||
4.25%, 12/1/2026 | CAD | 5,769,886 | 8,498,417 | |||||
42,951,070 | ||||||||
CHILE — 3.9% | ||||||||
Republic of Chile: | ||||||||
3.00%, 5/1/2017 | CLP | 1,630,621,800 | 3,527,270 | |||||
3.00%, 1/1/2018 | CLP | 11,478,719,250 | 24,723,606 | |||||
3.00%, 3/1/2028 | CLP | 2,639,032,650 | 5,562,829 | |||||
3.00%, 1/1/2030 | CLP | 214,555,500 | 450,483 | |||||
5.00%, 1/1/2016 | CLP | 257,466,600 | 611,047 | |||||
34,875,235 | ||||||||
FRANCE — 16.5% | ||||||||
Republic of France: | ||||||||
1.00%, 7/25/2017 | EUR | 29,537,309 | 40,307,363 | |||||
1.60%, 7/25/2015 | EUR | 25,429,474 | 35,892,319 | |||||
1.80%, 7/25/2040 | EUR | 8,498,899 | 11,687,887 | |||||
2.25%, 7/25/2020 | EUR | 23,652,869 | 34,251,008 | |||||
2.50%, 7/25/2013 | EUR | 3,888,912 | 5,618,373 | |||||
3.00%, 7/25/2012 | EUR | 2,736,149 | 3,908,543 | |||||
3.15%, 7/25/2032 | EUR | 6,897,436 | 11,623,946 | |||||
3.40%, 7/25/2029 | EUR | 2,583,112 | 4,451,622 | |||||
147,741,061 | ||||||||
GERMANY — 4.7% | ||||||||
Federal Republic of Germany: | ||||||||
1.50%, 4/15/2016 | EUR | 19,738,478 | 28,031,909 | |||||
1.75%, 4/15/2020 | EUR | 5,870,996 | 8,336,212 | |||||
2.25%, 4/15/2013 | EUR | 3,888,640 | 5,535,034 | |||||
41,903,155 | ||||||||
GREECE — 3.1% | ||||||||
Republic of Greece: | ||||||||
2.30%, 7/25/2030 | EUR | 21,855,080 | 12,874,280 | |||||
2.90%, 7/25/2025 | EUR | 24,830,304 | 14,417,050 | |||||
27,291,330 | ||||||||
ISRAEL — 5.1% | ||||||||
State of Israel: | ||||||||
4.00%, 7/30/2021 | ILS | 43,064,899 | 14,934,116 | |||||
4.00%, 7/31/2024 | ILS | 35,763,891 | 12,585,349 | |||||
5.00%, 4/30/2015 | ILS | 53,267,997 | 18,025,373 | |||||
45,544,838 | ||||||||
ITALY — 4.8% | ||||||||
Republic of Italy: | ||||||||
2.15%, 9/15/2014 | EUR | 11,785,095 | 15,919,394 | |||||
2.35%, 9/15/2035 | EUR | 3,599,023 | 4,270,124 | |||||
2.60%, 9/15/2023 | EUR | 18,161,891 | 22,976,289 | |||||
43,165,807 | ||||||||
JAPAN — 4.8% | ||||||||
Government of Japan 10 Year Bond 1.10%, 12/10/2016 | JPY | 3,500,739,000 | 43,184,629 | |||||
MEXICO — 4.4% | ||||||||
United Mexican States: | ||||||||
3.50%, 12/19/2013 | MXN | 33,010,365 | 2,806,443 | |||||
4.50%, 11/22/2035 | MXN | 158,959,411 | 14,638,597 | |||||
5.00%, 6/16/2016 | MXN | 240,505,376 | 22,142,718 | |||||
39,587,758 | ||||||||
POLAND — 2.9% | ||||||||
Republic of Poland 3.00%, 8/24/2016 | PLN | 73,941,933 | 25,417,735 | |||||
SOUTH AFRICA — 4.9% | ||||||||
Republic of South Africa: | ||||||||
3.45%, 12/7/2033 | ZAR | 118,845,095 | 20,421,196 | |||||
6.25%, 3/31/2013 | ZAR | 137,032,085 | 22,959,021 | |||||
43,380,217 | ||||||||
SOUTH KOREA — 2.7% | ||||||||
Republic of South Korea: | ||||||||
2.75%, 3/10/2017 | KRW | 22,171,202,861 | 20,644,537 | |||||
2.75%, 6/10/2020 | KRW | 3,415,784,600 | 3,350,914 | |||||
23,995,451 | ||||||||
SWEDEN — 4.8% | ||||||||
Kingdom of Sweden: | ||||||||
3.50%, 12/1/2015 | SEK | 50,684,437 | 8,566,379 | |||||
3.50%, 12/1/2028 | SEK | 15,384,218 | 3,048,082 | |||||
4.00%, 12/1/2020 | SEK | 165,311,128 | 31,087,646 | |||||
42,702,107 | ||||||||
TURKEY — 4.4% | ||||||||
Republic of Turkey: | ||||||||
9.00%, 5/21/2014 | TRY | 39,064,895 | 31,792,580 | |||||
10.00%, 2/15/2012 | TRY | 10,495,200 | 7,498,715 | |||||
39,291,295 | ||||||||
UNITED KINGDOM — 18.8% | ||||||||
United Kingdom Treasury Bond: | ||||||||
0.63%, 11/22/2042 | GBP | 690,749 | 1,103,593 | |||||
0.75%, 11/22/2047 | GBP | 2,478,478 | 4,208,641 | |||||
1.13%, 11/22/2037 | GBP | 7,926,440 | 14,064,904 | |||||
1.25%, 11/22/2017 | GBP | 6,268,005 | 10,670,227 | |||||
1.25%, 11/22/2027 | GBP | 40,161,604 | 68,892,991 | |||||
1.25%, 11/22/2055 | GBP | 5,274,538 | 10,897,368 | |||||
1.88%, 11/22/2022 | GBP | 19,459,569 | 34,949,179 | |||||
2.00%, 1/26/2035 | GBP | 2,035,068 | 4,198,905 | |||||
2.50%, 7/26/2016 | GBP | 3,753,042 | 6,731,684 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
2.50%, 4/16/2020 | GBP | 1,880,625 | $ | 3,479,832 | ||||
4.13%, 7/22/2030 | GBP | 3,482,267 | 8,997,913 | |||||
168,195,237 | ||||||||
TOTAL FOREIGN GOVERNMENT OBLIGATIONS — | ||||||||
(Cost $843,729,005) | 886,786,385 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENT — 0.0% (a) | ||||||||
MONEY MARKET FUND — 0.0% (a) | ||||||||
State Street Institutional Liquid | ||||||||
Reserves Fund 0.18% (b)(c)(d) | ||||||||
(Cost $173,461) | 173,461 | 173,461 | ||||||
TOTAL INVESTMENTS — 99.3% (e) | ||||||||
(Cost $843,902,466) | 886,959,846 | |||||||
OTHER ASSETS & LIABILITIES — 0.7% | 6,413,411 | |||||||
NET ASSETS — 100.0% | $ | 893,373,257 | ||||||
(a) | Amount shown represents less than 0.05% of net assets. | |||||
(b) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(c) | Value is determined based on Level 1 inputs. (Note 2) | |||||
(d) | The rate shown is the annualized seven-day yield at period end. | |||||
(e) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
AUD = Australian Dollar
BRL = Brazilian Real
CAD = Canadian Dollar
CLP = Chilean Peso
EUR = Euro Currency
GBP = Great British Pound
ILS = Israeli Shekel
JPY = Japanese Yen
KRW = South Korean Won
MXN = Mexican Peso
PLN = Polish Zloty
SEK = Swedish Krona
TRY = Turkish Lira
ZAR = South African Rand
See accompanying notes to financial statements.
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SPDR Barclays Capital Short Term International Treasury Bond ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
FOREIGN GOVERNMENT OBLIGATIONS — 90.4% | ||||||||
AUSTRALIA — 3.0% | ||||||||
Commonwealth of Australia: | ||||||||
4.75%, 11/15/2012 | AUD | 530,000 | $ | 539,745 | ||||
5.75%, 4/15/2012 | AUD | 2,330,000 | 2,411,749 | |||||
6.50%, 5/15/2013 | AUD | 2,000,000 | 2,110,558 | |||||
5,062,052 | ||||||||
AUSTRIA — 2.9% | ||||||||
Republic of Austria: | ||||||||
3.80%, 10/20/2013 (a) | EUR | 750,000 | 1,071,081 | |||||
5.00%, 7/15/2012 (a) | EUR | 2,610,000 | 3,714,650 | |||||
4,785,731 | ||||||||
BELGIUM — 4.1% | ||||||||
Kingdom of Belgium: | ||||||||
2.00%, 3/28/2012 | EUR | 935,000 | 1,258,113 | |||||
4.00%, 3/28/2013 | EUR | 1,450,000 | 2,019,674 | |||||
4.25%, 9/28/2013 | EUR | 1,000,000 | 1,404,134 | |||||
8.00%, 12/24/2012 | EUR | 1,468,000 | 2,190,068 | |||||
6,871,989 | ||||||||
CANADA — 4.6% | ||||||||
Government of Canada: | ||||||||
1.50%, 6/1/2012 | CAD | 1,500,000 | 1,508,922 | |||||
1.75%, 3/1/2013 | CAD | 1,550,000 | 1,560,233 | |||||
2.00%, 9/1/2012 | CAD | 1,150,000 | 1,164,733 | |||||
2.50%, 9/1/2013 | CAD | 1,000,000 | 1,022,624 | |||||
3.50%, 6/1/2013 | CAD | 750,000 | 784,939 | |||||
5.25%, 6/1/2012 | CAD | 1,555,000 | 1,645,422 | |||||
7,686,873 | ||||||||
DENMARK — 2.8% | ||||||||
Kingdom of Denmark: | ||||||||
4.00%, 11/15/2012 | DKK | 14,290,000 | 2,702,159 | |||||
5.00%, 11/15/2013 | DKK | 9,500,000 | 1,884,143 | |||||
4,586,302 | ||||||||
FRANCE — 4.5% | ||||||||
Republic of France: | ||||||||
3.75%, 1/12/2013 | EUR | 1,110,000 | 1,570,621 | |||||
4.00%, 10/25/2013 | EUR | 1,000,000 | 1,437,847 | |||||
4.50%, 7/12/2013 | EUR | 500,000 | 723,890 | |||||
4.75%, 10/25/2012 | EUR | 1,500,000 | 2,147,172 | |||||
5.00%, 4/25/2012 | EUR | 1,160,000 | 1,641,121 | |||||
7,520,651 | ||||||||
GERMANY — 9.4% | ||||||||
Federal Republic of Germany: | ||||||||
0.75%, 9/14/2012 | EUR | 350,000 | 469,317 | |||||
1.00%, 3/16/2012 | EUR | 500,000 | 673,834 | |||||
3.75%, 7/4/2013 | EUR | 2,600,000 | 3,722,637 | |||||
4.00%, 4/13/2012 | EUR | 2,215,000 | 3,098,836 | |||||
4.50%, 1/4/2013 | EUR | 2,200,000 | 3,164,031 | |||||
5.00%, 7/4/2012 | EUR | 3,130,000 | 4,466,282 | |||||
15,594,937 | ||||||||
HUNGARY — 2.1% | ||||||||
Republic of Hungary: | ||||||||
6.00%, 10/24/2012 | HUF | 113,500,000 | 537,061 | |||||
6.75%, 2/12/2013 | HUF | 436,750,000 | 2,076,730 | |||||
7.25%, 6/12/2012 | HUF | 185,000,000 | 896,841 | |||||
3,510,632 | ||||||||
ITALY — 10.1% | ||||||||
Republic of Italy: | ||||||||
2.25%, 11/1/2013 | EUR | 250,000 | 325,900 | |||||
2.50%, 7/1/2012 | EUR | 1,000,000 | 1,341,447 | |||||
3.00%, 3/1/2012 | EUR | 2,250,000 | 3,042,269 | |||||
4.00%, 4/15/2012 | EUR | 600,000 | 819,290 | |||||
4.25%, 10/15/2012 | EUR | 3,735,000 | 5,131,500 | |||||
4.25%, 4/15/2013 | EUR | 600,000 | 825,706 | |||||
4.25%, 8/1/2013 | EUR | 1,750,000 | 2,412,370 | |||||
4.75%, 2/1/2013 | EUR | 2,110,000 | 2,933,595 | |||||
16,832,077 | ||||||||
JAPAN — 18.0% | ||||||||
Government of Japan 2 Year Bond: | ||||||||
0.10%, 10/15/2012 | JPY | 86,750,000 | 1,068,160 | |||||
0.20%, 12/15/2012 | JPY | 60,000,000 | 740,126 | |||||
Government of Japan 5 Year Bond: | ||||||||
0.80%, 3/20/2013 | JPY | 325,000,000 | 4,061,039 | |||||
0.90%, 12/20/2012 | JPY | 345,000,000 | 4,313,859 | |||||
1.00%, 6/20/2013 | JPY | 233,250,000 | 2,931,947 | |||||
1.10%, 9/20/2012 | JPY | 266,000,000 | 3,332,450 | |||||
1.20%, 3/20/2012 | JPY | 165,000,000 | 2,059,502 | |||||
1.50%, 6/20/2012 | JPY | 621,100,000 | 7,805,360 | |||||
Government of Japan 10 Year Bond: | ||||||||
1.30%, 6/20/2012 | JPY | 32,800,000 | 411,022 | |||||
1.40%, 9/20/2013 | JPY | 250,500,000 | 3,187,801 | |||||
29,911,266 | ||||||||
MEXICO — 1.7% | ||||||||
United Mexican States: | ||||||||
7.50%, 6/21/2012 | MXN | 19,340,000 | 1,626,071 | |||||
9.00%, 6/20/2013 | MXN | 13,500,000 | 1,183,193 | |||||
2,809,264 | ||||||||
NETHERLANDS — 4.2% | ||||||||
Kingdom of the Netherlands: | ||||||||
1.75%, 1/15/2013 | EUR | 3,540,000 | 4,829,349 | |||||
5.00%, 7/15/2012 | EUR | 1,480,000 | 2,112,905 | |||||
6,942,254 | ||||||||
POLAND — 3.3% | ||||||||
Republic of Poland: | ||||||||
Zero Coupon, 10/25/2012 | PLN | 7,150,000 | 2,235,359 | |||||
4.75%, 4/25/2012 | PLN | 4,080,000 | 1,385,851 | |||||
5.25%, 4/25/2013 | PLN | 5,250,000 | 1,800,193 | |||||
5,421,403 | ||||||||
SINGAPORE — 2.4% | ||||||||
Government of Singapore: | ||||||||
2.25%, 7/1/2013 | SGD | 1,250,000 | 1,019,941 | |||||
2.50%, 10/1/2012 | SGD | 1,750,000 | 1,412,303 | |||||
2.63%, 4/1/2012 | SGD | 1,890,000 | 1,514,444 | |||||
3,946,688 | ||||||||
See accompanying notes to financial statements.
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SPDR Barclays Capital Short Term International Treasury Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
SOUTH KOREA — 4.3% | ||||||||
Korea Treasury Bond: | ||||||||
3.75%, 6/10/2013 | KRW | 1,750,000,000 | $ | 1,553,960 | ||||
4.00%, 6/10/2012 | KRW | 750,000,000 | 668,683 | |||||
4.25%, 12/10/2012 | KRW | 2,500,000,000 | 2,238,521 | |||||
4.75%, 12/10/2011 | KRW | 3,000,000,000 | 2,687,457 | |||||
7,148,621 | ||||||||
SPAIN — 4.4% | ||||||||
Kingdom of Spain: | ||||||||
2.75%, 4/30/2012 | EUR | 1,005,000 | 1,339,576 | |||||
4.20%, 7/30/2013 | EUR | 1,850,000 | 2,503,957 | |||||
5.00%, 7/30/2012 | EUR | 1,075,000 | 1,476,332 | |||||
6.15%, 1/31/2013 | EUR | 1,470,000 | 2,068,968 | |||||
7,388,833 | ||||||||
SWEDEN — 2.2% | ||||||||
Kingdom of Sweden 5.50%, 10/8/2012 | SEK | 23,490,000 | 3,713,026 | |||||
TAIWAN — 2.0% | ||||||||
Government of Taiwan: | ||||||||
2.00%, 7/20/2012 | TWD | 10,000,000 | 350,802 | |||||
2.38%, 1/16/2013 | TWD | 85,000,000 | 3,021,961 | |||||
3,372,763 | ||||||||
UNITED KINGDOM — 4.4% | ||||||||
United Kingdom Treasury Bond: | ||||||||
4.50%, 3/7/2013 | GBP | 1,520,000 | 2,553,467 | |||||
5.00%, 3/7/2012 | GBP | 1,355,000 | 2,227,551 | |||||
5.25%, 6/7/2012 | GBP | 970,000 | 1,614,525 | |||||
8.00%, 9/27/2013 | GBP | 550,000 | 1,018,544 | |||||
7,414,087 | ||||||||
TOTAL FOREIGN GOVERNMENT OBLIGATIONS — | ||||||||
(Cost $147,226,036) | 150,519,449 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENT — 0.7% | ||||||||
MONEY MARKET FUND — 0.7% | ||||||||
State Street Institutional Liquid | ||||||||
Reserves Fund 0.18% (b)(c)(d) | ||||||||
(Cost $1,205,745) | 1,205,745 | 1,205,745 | ||||||
TOTAL INVESTMENTS — 91.1% (e) | ||||||||
(Cost $148,431,781) | 151,725,194 | |||||||
OTHER ASSETS & LIABILITIES — 8.9% | 14,890,483 | |||||||
NET ASSETS — 100.0% | $ | 166,615,677 | ||||||
(a) | Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 2.9% of net assets as of December 31, 2010, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||
(b) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(c) | Value is determined based on Level 1 inputs. (Note 2) | |||||
(d) | The rate shown is the annualized seven-day yield at period end. | |||||
(e) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
At December 31, 2010, Open Forward Foreign Currency Exchange Contracts were as follows:
Forward Foreign Currency Contracts to Buy:
Net Unrealized | ||||||||||||||||||||||
Value at | In Exchange | Appreciation/ | ||||||||||||||||||||
Settlement Date | Contracts to Deliver | December 31, 2010 | for U.S. $ | (Depreciation) | Counterparty | |||||||||||||||||
3/4/2011 | 20,000,000 | TWD | $ | 687,178 | $ | (668,896 | ) | $ | 18,282 | Royal Bank of Scotland |
AUD — Australian Dollar
CAD — Canadian Dollar
DKK — Danish Krone
EUR — Euro
GBP — British Pound
HUF — Hungarian Forint
JPY — Japanese Yen
KRW — South Korean Won
MXN — Mexican Peso
PLN — Polish Zloty
SEK — Swedish Krona
SGD — Singapore Dollar
TWD — Taiwan Dollar
See accompanying notes to financial statements.
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SPDR Barclays Capital International Treasury Bond ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
FOREIGN GOVERNMENT OBLIGATIONS — 98.2% | ||||||||
AUSTRALIA — 3.6% | ||||||||
Commonwealth of Australia: | ||||||||
4.50%, 4/15/2020 | AUD | 2,750,000 | $ | 2,610,938 | ||||
4.75%, 6/15/2016 | AUD | 2,000,000 | 1,986,855 | |||||
5.25%, 3/15/2019 | AUD | 6,035,000 | 6,082,621 | |||||
5.50%, 12/15/2013 | AUD | 4,925,000 | 5,092,111 | |||||
5.75%, 4/15/2012 | AUD | 5,500,000 | 5,692,970 | |||||
5.75%, 5/15/2021 | AUD | 2,000,000 | 2,081,139 | |||||
5.75%, 7/15/2022 | AUD | 3,500,000 | 3,635,894 | |||||
6.00%, 2/15/2017 | AUD | 6,130,000 | 6,467,603 | |||||
6.25%, 4/15/2015 | AUD | 4,250,000 | 4,507,066 | |||||
6.50%, 5/15/2013 | AUD | 9,730,000 | 10,267,864 | |||||
48,425,061 | ||||||||
AUSTRIA — 4.0% | ||||||||
Republic of Austria: | ||||||||
3.40%, 10/20/2014 | EUR | 3,850,000 | 5,439,902 | |||||
3.50%, 9/15/2021 (a) | EUR | 7,500,000 | 10,030,440 | |||||
3.80%, 10/20/2013 (a) | EUR | 6,535,000 | 9,332,683 | |||||
4.00%, 9/15/2016 (a) | EUR | 4,750,000 | 6,828,755 | |||||
4.15%, 3/15/2037 (a) | EUR | 2,350,000 | 3,293,694 | |||||
4.65%, 1/15/2018 | EUR | 7,445,000 | 11,028,479 | |||||
5.00%, 7/15/2012 (a) | EUR | 1,750,000 | 2,490,666 | |||||
6.25%, 7/15/2027 | EUR | 3,365,000 | 5,886,220 | |||||
54,330,839 | ||||||||
BELGIUM — 4.5% | ||||||||
Kingdom of Belgium: | ||||||||
3.25%, 9/28/2016 | EUR | 1,750,000 | 2,322,711 | |||||
3.75%, 9/28/2015 | EUR | 4,500,000 | 6,178,968 | |||||
4.00%, 3/28/2019 | EUR | 5,770,000 | 7,835,959 | |||||
4.00%, 3/28/2022 | EUR | 4,000,000 | 5,330,679 | |||||
4.25%, 9/28/2013 | EUR | 3,500,000 | 4,914,469 | |||||
4.25%, 9/28/2014 | EUR | 1,250,000 | 1,761,624 | |||||
5.00%, 9/28/2012 | EUR | 9,715,000 | 13,691,601 | |||||
5.00%, 3/28/2035 | EUR | 6,025,000 | 8,840,368 | |||||
5.50%, 9/28/2017 | EUR | 6,510,000 | 9,701,604 | |||||
60,577,983 | ||||||||
CANADA — 4.6% | ||||||||
Government of Canada: | ||||||||
1.50%, 12/1/2012 | CAD | 3,500,000 | 3,511,095 | |||||
2.50%, 9/1/2013 | CAD | 2,500,000 | 2,556,559 | |||||
3.00%, 6/1/2014 | CAD | 5,000,000 | 5,185,226 | |||||
3.25%, 6/1/2021 | CAD | 1,000,000 | 1,008,595 | |||||
3.50%, 6/1/2013 | CAD | 2,500,000 | 2,616,465 | |||||
3.50%, 6/1/2020 | CAD | 3,250,000 | 3,371,509 | |||||
3.75%, 6/1/2019 | CAD | 5,625,000 | 5,965,789 | |||||
4.00%, 6/1/2016 | CAD | 9,330,000 | 10,082,860 | |||||
4.00%, 6/1/2041 | CAD | 1,500,000 | 1,643,184 | |||||
5.00%, 6/1/2037 | CAD | 5,850,000 | 7,305,891 | |||||
5.25%, 6/1/2012 | CAD | 7,655,000 | 8,100,133 | |||||
5.25%, 6/1/2013 | CAD | 4,000,000 | 4,352,720 | |||||
5.75%, 6/1/2029 | CAD | 4,740,000 | 6,229,333 | |||||
61,929,359 | ||||||||
DENMARK — 3.3% | ||||||||
Kingdom of Denmark: | ||||||||
4.00%, 11/15/2015 | DKK | 22,250,000 | 4,356,035 | |||||
4.00%, 11/15/2017 | DKK | 22,755,000 | 4,456,377 | |||||
4.00%, 11/15/2019 | DKK | 37,350,000 | 7,259,597 | |||||
4.50%, 11/15/2039 | DKK | 45,485,000 | 9,793,672 | |||||
5.00%, 11/15/2013 | DKK | 78,675,000 | 15,603,678 | |||||
7.00%, 11/10/2024 | DKK | 9,550,000 | 2,415,232 | |||||
43,884,591 | ||||||||
FRANCE — 4.5% | ||||||||
Republic of France: | ||||||||
2.50%, 1/12/2014 | EUR | 1,100,000 | 1,521,231 | |||||
2.50%, 1/15/2015 | EUR | 12,230,000 | 16,787,484 | |||||
3.50%, 4/25/2020 | EUR | 1,750,000 | 2,379,408 | |||||
3.50%, 4/25/2026 | EUR | 700,000 | 914,388 | |||||
3.75%, 10/25/2019 | EUR | 10,230,000 | 14,253,676 | |||||
4.00%, 4/25/2013 | EUR | 3,390,000 | 4,844,787 | |||||
4.00%, 4/25/2018 | EUR | 750,000 | 1,076,152 | |||||
4.50%, 4/25/2041 | EUR | 2,850,000 | 4,226,026 | |||||
5.00%, 4/25/2012 | EUR | 4,010,000 | 5,673,184 | |||||
5.00%, 10/25/2016 | EUR | 1,000,000 | 1,519,038 | |||||
5.75%, 10/25/2032 | EUR | 3,985,000 | 6,817,000 | |||||
60,012,374 | ||||||||
GERMANY — 4.4% | ||||||||
Federal Republic of Germany: | ||||||||
1.00%, 3/16/2012 | EUR | 4,000,000 | 5,390,673 | |||||
2.25%, 4/10/2015 | EUR | 5,230,000 | 7,177,405 | |||||
3.00%, 7/4/2020 | EUR | 3,250,000 | 4,382,015 | |||||
3.25%, 7/4/2042 | EUR | 500,000 | 648,002 | |||||
3.50%, 1/4/2016 | EUR | 2,000,000 | 2,877,385 | |||||
3.50%, 7/4/2019 | EUR | 2,000,000 | 2,816,908 | |||||
4.00%, 7/4/2016 | EUR | 1,500,000 | 2,207,099 | |||||
4.00%, 1/4/2037 | EUR | 3,500,000 | 5,078,622 | |||||
4.25%, 7/4/2017 | EUR | 5,590,000 | 8,327,788 | |||||
4.50%, 1/4/2013 | EUR | 8,635,000 | 12,418,823 | |||||
5.50%, 1/4/2031 | EUR | 1,750,000 | 2,995,730 | |||||
5.63%, 1/4/2028 | EUR | 3,115,000 | 5,308,287 | |||||
59,628,737 | ||||||||
ITALY — 10.6% | ||||||||
Republic of Italy: | ||||||||
2.50%, 7/1/2012 | EUR | 3,500,000 | 4,695,066 | |||||
3.00%, 6/15/2015 | EUR | 5,350,000 | 6,966,349 | |||||
3.50%, 6/1/2014 | EUR | 2,750,000 | 3,699,226 | |||||
3.75%, 12/15/2013 | EUR | 750,000 | 1,018,046 | |||||
3.75%, 8/1/2016 | EUR | 5,250,000 | 6,977,992 | |||||
3.75%, 3/1/2021 | EUR | 1,880,000 | 2,314,041 | |||||
3.75%, 8/1/2021 | EUR | 5,000,000 | 6,185,354 | |||||
4.00%, 4/15/2012 | EUR | 3,500,000 | 4,779,194 | |||||
4.00%, 9/1/2020 | EUR | 2,250,000 | 2,858,509 | |||||
4.00%, 2/1/2037 | EUR | 10,315,000 | 11,332,709 | |||||
4.25%, 8/1/2013 | EUR | 5,000,000 | 6,892,485 | |||||
4.25%, 2/1/2015 | EUR | 2,500,000 | 3,432,693 | |||||
4.25%, 2/1/2019 | EUR | 3,500,000 | 4,623,400 | |||||
4.25%, 9/1/2019 | EUR | 9,900,000 | 12,965,788 | |||||
4.25%, 3/1/2020 | EUR | 2,000,000 | 2,600,462 | |||||
4.50%, 2/1/2020 | EUR | 2,500,000 | 3,318,192 | |||||
4.75%, 2/1/2013 | EUR | 11,645,000 | 16,190,388 | |||||
5.00%, 2/1/2012 | EUR | 6,480,000 | 8,926,924 | |||||
5.00%, 3/1/2025 | EUR | 525,000 | 701,624 | |||||
5.25%, 8/1/2017 | EUR | 6,525,000 | 9,267,456 | |||||
5.25%, 11/1/2029 | EUR | 5,000,000 | 6,695,680 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
5.75%, 2/1/2033 | EUR | 1,500,000 | $ | 2,101,351 | ||||
6.00%, 5/1/2031 | EUR | 2,750,000 | 3,960,020 | |||||
6.50%, 11/1/2027 | EUR | 6,135,000 | 9,374,030 | |||||
141,876,979 | ||||||||
JAPAN — 23.2% | ||||||||
Government of Japan 2 Year Bond 0.10%, 10/15/2012 | JPY | 625,000,000 | 7,695,680 | |||||
Government of Japan 5 Year Bond 1.50%, 6/20/2013 | JPY | 150,000,000 | 1,908,137 | |||||
Government of Japan 10 Year Bond: | ||||||||
1.00%, 9/20/2020 | JPY | 554,000,000 | 6,770,310 | |||||
1.30%, 6/20/2012 | JPY | 3,806,100,000 | 47,694,814 | |||||
1.30%, 12/20/2019 | JPY | 285,250,000 | 3,607,719 | |||||
1.30%, 3/20/2020 | JPY | 600,000,000 | 7,572,044 | |||||
1.40%, 12/20/2013 | JPY | 975,000,000 | 12,430,447 | |||||
1.50%, 9/20/2014 | JPY | 5,082,200,000 | 65,416,226 | |||||
1.50%, 9/20/2015 | JPY | 625,000,000 | 8,099,100 | |||||
1.60%, 12/20/2015 | JPY | 122,000,000 | 1,591,132 | |||||
1.70%, 12/20/2016 | JPY | 1,540,600,000 | 20,278,688 | |||||
1.70%, 9/20/2017 | JPY | 825,000,000 | 10,869,300 | |||||
1.90%, 6/20/2016 | JPY | 161,350,000 | 2,141,038 | |||||
Government of Japan 20 Year Bond: | ||||||||
1.80%, 9/20/2030 | JPY | 161,350,000 | 1,958,923 | |||||
1.90%, 3/20/2029 | JPY | 804,300,000 | 10,045,901 | |||||
2.10%, 9/20/2029 | JPY | 351,250,000 | 4,504,904 | |||||
2.30%, 6/20/2027 | JPY | 2,216,200,000 | 29,681,368 | |||||
2.60%, 3/20/2019 | JPY | 1,269,800,000 | 17,817,405 | |||||
2.90%, 9/20/2019 | JPY | 2,266,200,000 | 32,456,913 | |||||
Government of Japan 30 Year Bond: | ||||||||
2.30%, 3/20/2039 | JPY | 82,500,000 | 1,087,031 | |||||
2.30%, 3/20/2040 | JPY | 208,250,000 | 2,751,380 | |||||
2.40%, 3/20/2037 | JPY | 1,094,950,000 | 14,678,662 | |||||
311,057,122 | ||||||||
MEXICO — 3.2% | ||||||||
United Mexican States: | ||||||||
7.25%, 12/15/2016 | MXN | 69,850,000 | 5,880,674 | |||||
8.50%, 12/13/2018 | MXN | 31,250,000 | 2,798,920 | |||||
8.50%, 5/31/2029 | MXN | 6,500,000 | 570,854 | |||||
9.00%, 12/20/2012 | MXN | 164,691,000 | 14,307,314 | |||||
9.50%, 12/18/2014 | MXN | 60,000,000 | 5,444,949 | |||||
10.00%, 12/5/2024 | MXN | 95,720,000 | 9,674,441 | |||||
10.00%, 11/20/2036 | MXN | 45,000,000 | 4,520,066 | |||||
43,197,218 | ||||||||
NETHERLANDS — 4.5% | ||||||||
Kingdom of the Netherlands: | ||||||||
1.75%, 1/15/2013 | EUR | 7,000,000 | 9,549,561 | |||||
2.50%, 1/15/2012 | EUR | 2,200,000 | 3,006,102 | |||||
3.25%, 7/15/2015 | EUR | 4,500,000 | 6,377,766 | |||||
3.50%, 7/15/2020 | EUR | 6,730,000 | 9,276,924 | |||||
3.75%, 7/15/2014 | EUR | 6,625,000 | 9,576,932 | |||||
3.75%, 1/15/2023 | EUR | 750,000 | 1,045,575 | |||||
3.75%, 1/15/2042 | EUR | 1,000,000 | 1,398,486 | |||||
4.00%, 7/15/2018 | EUR | 1,710,000 | 2,475,534 | |||||
4.00%, 1/15/2037 | EUR | 2,970,000 | 4,283,276 | |||||
4.50%, 7/15/2017 | EUR | 6,080,000 | 9,081,998 | |||||
5.50%, 1/15/2028 | EUR | 2,430,000 | 4,069,223 | |||||
60,141,377 | ||||||||
POLAND — 3.4% | ||||||||
Republic of Poland: | ||||||||
Zero Coupon, 1/25/2012 | PLN | 10,130,000 | 3,280,033 | |||||
Zero Coupon, 7/25/2012 | PLN | 24,000,000 | 7,597,938 | |||||
4.75%, 4/25/2012 | PLN | 7,315,000 | 2,484,681 | |||||
5.00%, 10/24/2013 | PLN | 1,000,000 | 339,302 | |||||
5.25%, 4/25/2013 | PLN | 15,000,000 | 5,143,409 | |||||
5.25%, 10/25/2017 | PLN | 16,100,000 | 5,323,515 | |||||
5.50%, 10/25/2019 | PLN | 7,675,000 | 2,519,440 | |||||
5.75%, 4/25/2014 | PLN | 15,000,000 | 5,176,852 | |||||
5.75%, 9/23/2022 | PLN | 20,760,000 | 6,831,283 | |||||
5.75%, 4/25/2029 | PLN | 2,500,000 | 811,056 | |||||
6.25%, 10/24/2015 | PLN | 17,215,000 | 6,036,773 | |||||
45,544,282 | ||||||||
SOUTH AFRICA — 3.2% | ||||||||
Republic of South Africa: | ||||||||
6.25%, 3/31/2036 | ZAR | 34,000,000 | 4,034,595 | |||||
7.25%, 1/15/2020 | ZAR | 85,285,000 | 12,156,859 | |||||
7.50%, 1/15/2014 | ZAR | 15,000,000 | 2,342,569 | |||||
8.25%, 9/15/2017 | ZAR | 15,500,000 | 2,379,483 | |||||
10.50%, 12/21/2026 | ZAR | 49,850,000 | 8,982,682 | |||||
13.50%, 9/15/2015 | ZAR | 69,725,000 | 13,076,218 | |||||
42,972,406 | ||||||||
SPAIN — 4.5% | ||||||||
Kingdom of Spain: | ||||||||
2.50%, 10/31/2013 | EUR | 2,000,000 | 2,579,507 | |||||
3.15%, 1/31/2016 | EUR | 5,010,000 | 6,280,059 | |||||
3.30%, 10/31/2014 | EUR | 3,500,000 | 4,558,791 | |||||
3.80%, 1/31/2017 | EUR | 2,000,000 | 2,525,845 | |||||
4.00%, 4/30/2020 | EUR | 2,250,000 | 2,716,067 | |||||
4.20%, 1/31/2037 | EUR | 5,635,000 | 5,807,919 | |||||
4.40%, 1/31/2015 | EUR | 2,500,000 | 3,365,783 | |||||
4.60%, 7/30/2019 | EUR | 6,620,000 | 8,439,730 | |||||
4.65%, 7/30/2025 | EUR | 2,500,000 | 2,971,210 | |||||
4.70%, 7/30/2041 | EUR | 600,000 | 658,699 | |||||
5.00%, 7/30/2012 | EUR | 2,850,000 | 3,913,997 | |||||
6.00%, 1/31/2029 | EUR | 3,500,000 | 4,723,459 | |||||
6.15%, 1/31/2013 | EUR | 8,120,000 | 11,428,585 | |||||
59,969,651 | ||||||||
SWEDEN — 3.1% | ||||||||
Kingdom of Sweden: | ||||||||
3.75%, 8/12/2017 | SEK | 13,385,000 | 2,073,457 | |||||
4.25%, 3/12/2019 | SEK | 133,405,000 | 21,337,736 | |||||
4.50%, 8/12/2015 | SEK | 18,000,000 | 2,887,347 | |||||
5.00%, 12/1/2020 | SEK | 25,750,000 | 4,379,551 | |||||
5.50%, 10/8/2012 | SEK | 24,775,000 | 3,916,144 | |||||
6.75%, 5/5/2014 | SEK | 40,000,000 | 6,759,216 | |||||
41,353,451 | ||||||||
TAIWAN — 3.0% | ||||||||
Government of Taiwan: | ||||||||
1.38%, 9/9/2019 | TWD | 400,000,000 | 13,690,340 |
See accompanying notes to financial statements.
123
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SPDR Barclays Capital International Treasury Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
2.00%, 7/20/2014 | TWD | 365,000,000 | $ | 13,036,458 | ||||
2.00%, 7/20/2015 | TWD | 30,000,000 | 1,075,494 | |||||
2.13%, 8/13/2029 | TWD | 170,000,000 | 6,074,160 | |||||
2.38%, 9/21/2017 | TWD | 50,000,000 | 1,842,406 | |||||
3.63%, 3/8/2012 | TWD | 135,000,000 | 4,794,663 | |||||
40,513,521 | ||||||||
UNITED KINGDOM — 10.6% | ||||||||
United Kingdom Treasury Bond: | ||||||||
2.25%, 3/7/2014 | GBP | 6,500,000 | 10,389,424 | |||||
2.75%, 1/22/2015 | GBP | 5,300,000 | 8,527,388 | |||||
3.75%, 9/7/2020 | GBP | 9,250,000 | 14,760,620 | |||||
4.25%, 12/7/2046 | GBP | 1,750,000 | 2,781,672 | |||||
4.25%, 12/7/2049 | GBP | 950,000 | 1,516,372 | |||||
4.50%, 3/7/2013 | GBP | 5,500,000 | 9,239,516 | |||||
4.50%, 3/7/2019 | GBP | 5,950,000 | 10,177,318 | |||||
4.50%, 9/7/2034 | GBP | 1,500,000 | 2,451,856 | |||||
4.75%, 9/7/2015 | GBP | 8,740,000 | 15,229,236 | |||||
4.75%, 12/7/2030 | GBP | 4,500,000 | 7,631,256 | |||||
4.75%, 12/7/2038 | GBP | 17,814,000 | 30,481,533 | |||||
5.00%, 3/7/2012 | GBP | 5,285,000 | 8,688,271 | |||||
5.00%, 3/7/2018 | GBP | 4,750,000 | 8,448,029 | |||||
5.00%, 3/7/2025 | GBP | 7,225,000 | 12,696,169 | |||||
143,018,660 | ||||||||
TOTAL FOREIGN GOVERNMENT OBLIGATIONS — | ||||||||
(Cost $1,234,965,127) | 1,318,433,611 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENT — 0.8% | ||||||||
MONEY MARKET FUND — 0.8% | ||||||||
State Street Institutional Liquid Reserves Fund 0.18% (b)(c)(d) (Cost $10,820,067) | 10,820,067 | 10,820,067 | ||||||
TOTAL INVESTMENTS — 99.0% (e) | ||||||||
(Cost $1,245,785,194) | 1,329,253,678 | |||||||
OTHER ASSETS & LIABILITIES — 1.0% | 13,116,652 | |||||||
NET ASSETS — 100.0% | $ | 1,342,370,330 | ||||||
(a) | Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 2.4% of net assets as of December 31, 2010, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||
(b) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(c) | Value is determined based on Level 1 inputs. (Note 2) | |||||
(d) | The rate shown is the annualized seven-day yield at period end. | |||||
(e) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. ( Note 2) |
At December 31, 2010, Open Forward Foreign Currency Exchange Contracts were as follows:
Forward Foreign Currency Contracts to Buy:
Net Unrealized | ||||||||||||||||||||||
Value at | In Exchange | Appreciation/ | ||||||||||||||||||||
Settlement Date | Contracts to Deliver | December 31, 2010 | for U.S. $ | (Depreciation) | Counterparty | |||||||||||||||||
3/4/2011 | 335,000,000 | TWD | $ | 11,510,247 | $ | (11,144,378 | ) | $ | 365,869 | BNP Paribas |
Forward Foreign Currency Contracts to Sell:
Net Unrealized | ||||||||||||||||||||||
Value at | In Exchange | Appreciation/ | ||||||||||||||||||||
Settlement Date | Contracts to Deliver | December 31, 2010 | for U.S. $ | (Depreciation) | Counterparty | |||||||||||||||||
3/4/2011 | 52,000,000 | TWD | $ | 1,786,665 | $ | 1,732,300 | $ | (54,365 | ) | BNP Paribas | ||||||||||||
$ | 311,504 | |||||||||||||||||||||
AUD — Australian Dollar
CAD — Canadian Dollar
DKK — Danish Krone
EUR — Euro
GBP — British Pound
JPY — Japanese Yen
MXN — Mexican Peso
PLN — Polish Zloty
SEK — Swedish Krona
TWD — Taiwan Dollar
ZAR — South African Rand
See accompanying notes to financial statements.
124
Table of Contents
SPDR Barclays Capital International Corporate Bond ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
CORPORATE BONDS & NOTES — 97.6% | ||||||||
AUSTRALIA — 4.3% | ||||||||
Australia & New Zealand Banking Group, Ltd. 3.75%, 3/10/2017 | EUR | 50,000 | $ | 67,730 | ||||
BHP Billion Finance, Ltd. 4.75%, 4/4/2012 | EUR | 50,000 | 69,634 | |||||
National Australia Bank, Ltd. 3.50%, 1/23/2015 | EUR | 50,000 | 68,343 | |||||
Telstra Corp., Ltd. 4.75%, 3/21/2017 | EUR | 50,000 | 71,601 | |||||
277,308 | ||||||||
CANADA — 1.2% | ||||||||
The Toronto-Dominion Bank 5.38%, 5/14/2015 | EUR | 50,000 | 74,540 | |||||
DENMARK — 1.1% | ||||||||
Danske Bank A/S 4.75%, 6/4/2014 | EUR | 50,000 | 70,726 | |||||
FRANCE — 12.4% | ||||||||
Autoroutes du Sud de la France 5.63%, 7/4/2022 | EUR | 50,000 | 73,179 | |||||
BNP Paribas 3.25%, 3/27/2012 | EUR | 50,000 | 68,472 | |||||
Bouygues SA 6.13%, 7/3/2015 | EUR | 50,000 | 75,594 | |||||
Carrefour SA 5.13%, 10/10/2014 | EUR | 50,000 | 73,165 | |||||
France Telecom SA: | ||||||||
3.88%, 4/9/2020 | EUR | 50,000 | 66,025 | |||||
5.00%, 1/22/2014 | EUR | 50,000 | 72,277 | |||||
GDF Suez 6.38%, 1/18/2021 | EUR | 50,000 | 80,012 | |||||
Sanofi-Aventis SA 3.50%, 5/17/2013 | EUR | 50,000 | 69,270 | |||||
Societe Generale 5.25%, 3/28/2013 | EUR | 50,000 | 71,286 | |||||
Total Capital SA 4.75%, 12/10/2013 | EUR | 50,000 | 71,936 | |||||
Veolia Environnement 5.25%, 4/24/2014 | EUR | 50,000 | 72,672 | |||||
793,888 | ||||||||
GERMANY — 5.4% | ||||||||
BASF SE 3.75%, 10/8/2012 | EUR | 50,000 | 69,459 | |||||
Bayer AG 6.00%, 4/10/2012 | EUR | 50,000 | 70,763 | |||||
Commerzbank AG 5.00%, 2/6/2014 | EUR | 50,000 | 71,198 | |||||
Daimler AG 3.00%, 7/19/2013 | EUR | 50,000 | 68,512 | |||||
Deutsche Bank AG 4.88%, 9/24/2012 | EUR | 50,000 | 70,585 | |||||
350,517 | ||||||||
HONG KONG — 1.1% | ||||||||
Hutchison Whampoa Finance 09, Ltd. 4.75%, 11/14/2016 | EUR | 50,000 | 69,898 | |||||
IRELAND — 3.3% | ||||||||
GE Capital European Funding: | ||||||||
4.25%, 3/1/2017 | EUR | 50,000 | 68,109 | |||||
4.75%, 7/30/2014 | EUR | 100,000 | 141,980 | |||||
210,089 | ||||||||
ITALY — 7.4% | ||||||||
Assicurazioni Generali SpA 5.13%, 9/16/2024 | EUR | 50,000 | 67,354 | |||||
Banca Monte dei Paschi di Siena SpA 5.00%, 10/25/2012 | EUR | 50,000 | 69,151 | |||||
Banco Popolare SC 3.75%, 8/7/2012 | EUR | 50,000 | 67,276 | |||||
ENI SpA 4.63%, 4/30/2013 | EUR | 50,000 | 70,871 | |||||
Intesa Sanpaolo SpA 3.38%, 1/19/2015 | EUR | 50,000 | 66,162 | |||||
Telecom Italia SpA 5.25%, 2/10/2022 | EUR | 50,000 | 64,226 | |||||
UniCredit SpA, Series E 4.88%, 2/12/2013 | EUR | 50,000 | 69,422 | |||||
474,462 | ||||||||
LUXEMBOURG — 1.0% | ||||||||
Enel Finance International SA 5.00%, 9/14/2022 | EUR | 50,000 | 67,762 | |||||
NETHERLANDS — 17.8% | ||||||||
Allianz Finance II BV 4.75%, 7/22/2019 | EUR | 50,000 | 70,021 | |||||
BMW Finance NV 3.88%, 1/18/2017 | EUR | 50,000 | 69,231 | |||||
Deutsche Telekom International Finance BV 6.00%, 1/20/2017 | EUR | 50,000 | 75,563 | |||||
E.ON International Finance BV: | ||||||||
5.13%, 10/2/2012 | EUR | 50,000 | 70,929 | |||||
5.88%, 10/30/2037 | GBP | 50,000 | 85,163 | |||||
EDP Finance BV 5.50%, 2/18/2014 | EUR | 50,000 | 68,270 | |||||
ING Groep NV 4.75%, 5/31/2017 | EUR | 50,000 | 68,869 | |||||
Rabobank Nederland NV: | ||||||||
4.00%, 9/10/2015 | GBP | 150,000 | 243,495 | |||||
4.13%, 7/14/2025 | EUR | 20,000 | 25,557 | |||||
RWE Finance BV 6.50%, 8/10/2021 | EUR | 50,000 | 79,779 | |||||
Shell International Finance BV 4.50%, 2/9/2016 | EUR | 50,000 | 72,180 | |||||
Siemens Financieringsmaatschappij NV 5.13%, 2/20/2017 | EUR | 50,000 | 73,970 | |||||
ThyssenKrupp Finance Nederland BV 6.75%, 2/25/2013 | EUR | 50,000 | 72,151 | |||||
Volkswagen International Finance NV 5.63%, 2/9/2012 | EUR | 50,000 | 70,096 | |||||
1,145,274 | ||||||||
NORWAY — 1.1% | ||||||||
DnB NOR Bank ASA 4.50%, 5/29/2014 | EUR | 50,000 | 71,278 | |||||
See accompanying notes to financial statements.
125
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SPDR Barclays Capital International Corporate Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
SPAIN — 6.2% | ||||||||
Abertis Infraestructuras SA 4.63%, 10/14/2016 | EUR | 50,000 | $ | 61,535 | ||||
BBVA Senior Finance SAU 3.25%, 4/23/2015 | EUR | 50,000 | 62,635 | |||||
Gas Natural Capital Markets SA 5.25%, 7/9/2014 | EUR | 50,000 | 68,253 | |||||
Iberdrola Finanzas SAU 6.38%, 11/25/2011 | EUR | 50,000 | 69,653 | |||||
Santander International Debt SA 5.63%, 2/14/2012 | EUR | 50,000 | 68,552 | |||||
Telefonica Emisiones SAU 3.41%, 3/24/2015 | EUR | 50,000 | 65,821 | |||||
396,449 | ||||||||
SWEDEN — 3.2% | ||||||||
Nordea Bank AB 3.00%, 8/6/2012 | EUR | 50,000 | 68,379 | |||||
Skandinaviska Enskilda Banken AB 4.38%, 5/29/2012 | EUR | 50,000 | 69,353 | |||||
Svenska Handelsbanken AB 3.00%, 8/20/2012 | EUR | 50,000 | 68,281 | |||||
206,013 | ||||||||
UNITED KINGDOM — 16.9% | ||||||||
Barclays Bank PLC 4.88%, 8/13/2019 | EUR | 50,000 | 68,299 | |||||
BAT International Finance PLC 5.38%, 6/29/2017 | EUR | 50,000 | 73,618 | |||||
British Telecommunications PLC 5.25%, 1/22/2013 | EUR | 50,000 | 70,834 | |||||
Credit Suisse/London: | ||||||||
3.88%, 1/25/2017 | EUR | 50,000 | 67,214 | |||||
4.75%, 8/5/2019 | EUR | 50,000 | 68,694 | |||||
GlaxoSmithKline Capital PLC 5.25%, 12/19/2033 | GBP | 50,000 | 79,560 | |||||
HSBC Holdings PLC 4.50%, 4/30/2014 | EUR | 50,000 | 70,772 | |||||
Imperial Tobacco Finance PLC 8.38%, 2/17/2016 | EUR | 50,000 | 81,737 | |||||
Lloyds TSB Bank PLC 5.38%, 9/3/2019 | EUR | 50,000 | 65,904 | |||||
Morgan Stanley 4.50%, 10/29/2014 | EUR | 50,000 | 68,057 | |||||
Royal Bank of Scotland Group PLC: | ||||||||
5.25%, 5/15/2013 | EUR | 50,000 | 69,679 | |||||
5.38%, 9/30/2019 | EUR | 50,000 | 63,925 | |||||
Tesco PLC 5.63%, 9/12/2012 | EUR | 50,000 | 71,183 | |||||
UBS AG/London 4.88%, 1/21/2013 | EUR | 70,000 | 98,640 | |||||
Vodafone Group PLC 4.65%, 1/20/2022 | EUR | 50,000 | 67,763 | |||||
1,085,879 | ||||||||
UNITED STATES — 15.2% | ||||||||
AT&T, Inc. 6.13%, 4/2/2015 | 50,000 | 75,498 | ||||||
Bank of America Corp.: | ||||||||
4.75%, 4/3/2017 | 50,000 | 64,399 | ||||||
5.13%, 9/26/2014 | 50,000 | 68,360 | ||||||
Citigroup, Inc.: | ||||||||
6.40%, 3/27/2013 | 50,000 | 71,573 | ||||||
7.38%, 9/4/2019 | 50,000 | 74,800 | ||||||
HSBC Finance Corp. 4.88%, 5/30/2017 | 50,000 | 69,614 | ||||||
JPMorgan Chase & Co. 5.25%, 5/8/2013 | 50,000 | 71,135 | ||||||
Pfizer, Inc. 3.63%, 6/3/2013 | 50,000 | 69,562 | ||||||
Roche Holdings, Inc. 6.50%, 3/4/2021 | 50,000 | 80,768 | ||||||
The Goldman Sachs Group, Inc. 4.00%, 2/2/2015 | 80,000 | 106,815 | ||||||
The Procter & Gamble Co. 4.50%, 5/12/2014 | 50,000 | 71,813 | ||||||
Wells Fargo Bank NA 6.00%, 5/23/2013 | 50,000 | 72,390 | ||||||
Wal-Mart Stores, Inc. 5.25%, 9/28/2035 | 50,000 | 79,615 | ||||||
976,342 | ||||||||
TOTAL CORPORATE BONDS & NOTES — | ||||||||
(Cost $5,878,194) | 6,270,425 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENT — 0.0% (a) | ||||||||
MONEY MARKET FUND — 0.0% (a) | ||||||||
State Street Institutional Liquid Reserves Fund 0.18% (b)(c)(d) (Cost $923) | 923 | 923 | ||||||
TOTAL INVESTMENTS — 97.6% (e) | ||||||||
(Cost $5,879,117) | 6,271,348 | |||||||
OTHER ASSETS & LIABILITIES — 2.4% | 152,059 | |||||||
NET ASSETS — 100.0% | $ | 6,423,407 | ||||||
(a) | Amount shown represents less than 0.05% of net assets. | |||||
(b) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(c) | Value is determined based on Level 1 inputs. (Note 2) | |||||
(d) | The rate shown is the annualized seven-day yield at period end. | |||||
(e) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
See accompanying notes to financial statements.
126
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SPDR Barclays Capital International Corporate Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
At December 31, 2010, Open Forward Foreign Currency Exchange Contracts were as follows:
Forward Foreign Currency Contracts:
Net Unrealized | ||||||||||||||||||||
Appreciation/ | Counterparty | |||||||||||||||||||
Settlement Date | Contracts to Deliver | In Exchange for | (Depreciation) | |||||||||||||||||
1/6/2011 | 128,941 | EUR | 14,000,000 | JPY | (363 | ) | Citibank N.A. | |||||||||||||
1/6/2011 | 14,000,000 | JPY | 129,390 | EUR | 965 | UBS AG London | ||||||||||||||
2/7/2011 | 1,200,000 | JPY | 11,033 | EUR | (1 | ) | UBS AG London | |||||||||||||
2/7/2011 | 129,443 | EUR | 14,000,000 | JPY | (969 | ) | UBS AG London | |||||||||||||
$ | (368 | ) | ||||||||||||||||||
EUR — Euro Currency
JPY — Japanese Yen
See accompanying notes to financial statements.
127
Table of Contents
SPDR Barclays Capital High Yield Bond ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
CORPORATE BONDS & NOTES — 97.8% | ||||||||
AEROSPACE & DEFENSE — 1.0% | ||||||||
BE Aerospace, Inc. 8.50%, 7/1/2018 | $ | 19,419,000 | $ | 21,263,805 | ||||
Bombardier, Inc. 7.75%, 3/15/2020 (a)(b) | 28,180,000 | 30,363,950 | ||||||
TransDigm, Inc. 7.75%, 12/15/2018 (a) | 8,300,000 | 8,590,500 | ||||||
60,218,255 | ||||||||
AIRLINES — 1.1% | ||||||||
Air Canada 9.25%, 8/1/2015 (a) | 19,185,000 | 20,144,250 | ||||||
Continental Airlines, Inc. 6.75%, 9/15/2015 (a) | 25,890,000 | 26,666,700 | ||||||
Delta Air Lines, Inc. 9.50%, 9/15/2014 (a) | 21,734,000 | 23,662,892 | ||||||
70,473,842 | ||||||||
AUTO COMPONENTS — 0.6% | ||||||||
The Goodyear Tire & Rubber Co. 10.50%, 5/15/2016 | 32,324,000 | 36,849,360 | ||||||
AUTOMOBILES — 0.6% | ||||||||
Navistar International Corp. 8.25%, 11/1/2021 (b) | 32,650,000 | 35,098,750 | ||||||
BASIC RESOURCES — 0.3% | ||||||||
Novelis, Inc. 8.75%, 12/15/2020 (a) | 19,350,000 | 20,075,625 | ||||||
BIOTECHNOLOGY — 0.3% | ||||||||
Talecris Biotherapeutics Holdings Corp. 7.75%, 11/15/2016 | 18,750,000 | 20,343,750 | ||||||
BUILDING PRODUCTS — 1.1% | ||||||||
Associated Materials LLC 9.13%, 11/1/2017 (a) | 22,570,000 | 23,585,650 | ||||||
Nortek, Inc. 11.00%, 12/1/2013 | 57 | 61 | ||||||
Ply Gem Industries, Inc. 11.75%, 6/15/2013 | 22,644,000 | 24,229,080 | ||||||
Texas Industries, Inc. 9.25%, 8/15/2020 (a) | 19,950,000 | 21,196,875 | ||||||
69,011,666 | ||||||||
CAPITAL MARKETS — 0.5% | ||||||||
Offshore Group Investments, Ltd. 11.50%, 8/1/2015 (a) | 31,495,000 | 34,172,075 | ||||||
CHEMICALS — 4.4% | ||||||||
Ashland, Inc. 9.13%, 6/1/2017 | 21,130,000 | 24,352,325 | ||||||
Celanese US Holdings LLC 6.63%, 10/15/2018 (a) | 19,570,000 | 20,206,025 | ||||||
CF Industries, Inc. 7.13%, 5/1/2020 | 26,200,000 | 28,689,000 | ||||||
Hexion US Finance Corp. / Hexion Nova Scotia Finance ULC 8.88%, 2/1/2018 | 31,990,000 | 34,189,312 | ||||||
Huntsman International LLC 5.50%, 6/30/2016 | 20,090,000 | 19,437,075 | ||||||
Lyondell Chemical Co. 11.00%, 5/1/2018 | 106,076,000 | 120,131,070 | ||||||
Momentive Performance Materials, Inc. 9.00%, 1/15/2021 (a) | 19,950,000 | 21,047,250 | ||||||
Nalco Co. 6.63%, 1/15/2019 (a) | 9,295,000 | 9,504,138 | ||||||
277,556,195 | ||||||||
COMMERCIAL SERVICES & SUPPLIES — 1.7% | ||||||||
Ceridian Corp. 11.25%, 11/15/2015 | 27,375,000 | 27,101,250 | ||||||
Interactive Data Corp. 10.25%, 8/1/2018 (a)(b) | 20,515,000 | 22,181,844 | ||||||
The Hertz Corp. 7.50%, 10/15/2018 (a) | 22,640,000 | 23,489,000 | ||||||
The ServiceMaster Co. PIK 10.75%, 7/15/2015 (a) | 33,275,000 | 35,604,250 | ||||||
108,376,344 | ||||||||
COMPUTERS & PERIPHERALS — 1.2% | ||||||||
Fidelity National Information Services, Inc., Series 1 7.63%, 7/15/2017 (a)(b) | 18,825,000 | 19,813,312 | ||||||
Seagate HDD Cayman: | ||||||||
6.88%, 5/1/2020 (a) | 19,375,000 | 18,503,125 | ||||||
7.75%, 12/15/2018 (a) | 5,800,000 | 5,872,500 | ||||||
SunGard Data Systems, Inc. 7.38%, 11/15/2018 (a) | 29,655,000 | 29,803,275 | ||||||
73,992,212 | ||||||||
CONTAINERS & PACKAGING — 0.7% | ||||||||
Berry Plastics Corp. 9.75%, 1/15/2021 (a) | 23,000,000 | 22,770,000 | ||||||
Owens-Brockway Glass Container, Inc. 7.38%, 5/15/2016 | 18,965,000 | 20,150,313 | ||||||
42,920,313 | ||||||||
DISTRIBUTORS — 0.5% | ||||||||
McJunkin Red Man Corp. 9.50%, 12/15/2016 (a) | 36,015,000 | 34,034,175 | ||||||
DIVERSIFIED CONSUMER SERVICES — 0.8% | ||||||||
Reynolds Group Issuer, Inc.: | ||||||||
7.75%, 10/15/2016 (a) | 23,195,000 | 24,528,713 | ||||||
9.00%, 4/15/2019 (a) | 25,230,000 | 26,144,587 | ||||||
50,673,300 | ||||||||
DIVERSIFIED FINANCIAL SERVICES — 9.7% | ||||||||
Ally Financial, Inc.: | ||||||||
7.50%, 9/15/2020 (a) | 12,950,000 | 13,581,313 | ||||||
8.00%, 11/1/2031 | 15,500,000 | 16,701,250 | ||||||
8.30%, 2/12/2015 | 32,690,000 | 35,959,000 | ||||||
CEVA Group PLC 11.50%, 4/1/2018 (a) | 20,975,000 | 22,653,000 | ||||||
CIT Group, Inc. 7.00%, 5/1/2017 | 233,555,000 | 234,138,887 | ||||||
Citigroup Capital XXI 8.30%, 12/21/2057 (c) | 51,910,000 | 53,986,400 | ||||||
Ford Motor Credit Co. LLC 7.50%, 8/1/2012 | 55,850,000 | 59,380,223 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Icahn Enterprises LP / Icahn Enterprises Finance Corp. 8.00%, 1/15/2018 | $ | 36,330,000 | $ | 36,330,000 | ||||
Mizuho Capital Investment USD 2, Ltd. 14.95%, 12/31/2049 (a)(c) | 23,925,000 | 31,017,566 | ||||||
Pinafore LLC/Pinafore, Inc. 9.00%, 10/1/2018 (a) | 36,700,000 | 39,636,000 | ||||||
SMFG Preferred Capital USD 3, Ltd. 9.50%, 7/29/2049 (a)(b)(c) | 41,550,000 | 48,198,000 | ||||||
Trans Union LLC/TransUnion Financing Corp. 11.38%, 6/15/2018 (a) | 20,423,000 | 23,282,220 | ||||||
614,863,859 | ||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 6.6% | ||||||||
Cricket Communications, Inc.: | ||||||||
7.75%, 5/15/2016 | 31,880,000 | 33,075,500 | ||||||
7.75%, 10/15/2020 (a) | 12,000,000 | 11,430,000 | ||||||
Frontier Communications Corp.: | ||||||||
8.25%, 4/15/2017 | 25,500,000 | 27,986,250 | ||||||
8.50%, 4/15/2020 | 9,000,000 | 9,832,500 | ||||||
Global Crossing, Ltd. 12.00%, 9/15/2015 | 24,570,000 | 27,702,675 | ||||||
Inmarsat Finance PLC 7.38%, 12/1/2017 (a) | 20,500,000 | 21,525,000 | ||||||
Intelsat Luxembourg SA 11.25%, 2/4/2017 | 91,925,000 | 100,198,250 | ||||||
Level 3 Financing, Inc. 10.00%, 2/1/2018 | 20,875,000 | 20,040,000 | ||||||
PAETEC Holding Corp. 8.88%, 6/30/2017 | 21,150,000 | 22,577,625 | ||||||
Virgin Media Finance PLC 9.50%, 8/15/2016 (b) | 43,610,000 | 49,279,300 | ||||||
West Corp. 7.88%, 1/15/2019 (a) | 21,320,000 | 21,693,100 | ||||||
Wind Acquisition Finance SA 11.75%, 7/15/2017 (a) | 64,400,000 | 72,611,000 | ||||||
417,951,200 | ||||||||
ELECTRIC UTILITIES — 4.1% | ||||||||
Calpine Corp.: | ||||||||
7.25%, 10/15/2017 (a) | 34,030,000 | 34,030,000 | ||||||
7.50%, 2/15/2021 (a) | 28,750,000 | 28,318,750 | ||||||
Dubai Electricity & Water Authority: | ||||||||
7.38%, 10/21/2020 (a) | 9,500,000 | 8,885,008 | ||||||
8.50%, 4/22/2015 (a) | 33,975,000 | 36,128,132 | ||||||
Energy Future Intermediate Holding Co. LLC / EFIH Finance, Inc. 10.00%, 12/1/2020 | 69,230,000 | 71,395,030 | ||||||
GenOn Escrow Corp. 9.50%, 10/15/2018 (a) | 21,355,000 | 21,221,531 | ||||||
NRG Energy, Inc.: | ||||||||
8.25%, 9/1/2020 (a) | 19,985,000 | 20,484,625 | ||||||
8.50%, 6/15/2019 | 16,300,000 | 16,829,750 | ||||||
The AES Corp. 8.00%, 10/15/2017 | 20,834,000 | 22,031,955 | ||||||
259,324,781 | ||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 0.5% | ||||||||
NXP BV / NXP Funding LLC, Series 1 9.75%, 8/1/2018 (a) | 27,925,000 | 31,415,625 | ||||||
ENGINEERING & CONSTRUCTION — 0.3% | ||||||||
Abengoa Finance SAU 8.88%, 11/1/2017 (a) | 19,500,000 | 18,037,500 | ||||||
ENTERTAINMENT — 0.0% (d) | ||||||||
AMC Entertainment Holdings, Inc. 9.75%, 12/1/2020 (a) | 3,000,000 | 3,120,000 | ||||||
FOOD PRODUCTS — 1.7% | ||||||||
Bumble Bee Acquisition Corp. 9.00%, 12/15/2017 (a) | 19,735,000 | 20,524,400 | ||||||
JBS USA LLC/JBS USA Finance, Inc. 11.63%, 5/1/2014 | 22,510,000 | 26,336,700 | ||||||
Smithfield Foods, Inc. 10.00%, 7/15/2014 (a) | 26,930,000 | 31,036,825 | ||||||
Tyson Foods, Inc. 10.50%, 3/1/2014 | 26,105,000 | 30,869,162 | ||||||
108,767,087 | ||||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 0.5% | ||||||||
Boston Scientific Corp. 6.00%, 1/15/2020 | 31,665,000 | 33,007,564 | ||||||
HEALTH CARE PROVIDERS & SERVICES — 3.4% | ||||||||
Apria Healthcare Group, Inc. 11.25%, 11/1/2014 | 21,900,000 | 23,925,750 | ||||||
DaVita, Inc. 6.63%, 11/1/2020 | 24,600,000 | 24,354,000 | ||||||
HCA, Inc.: | ||||||||
7.75%, 5/15/2021 (a) | 11,310,000 | 11,310,000 | ||||||
8.50%, 4/15/2019 | 23,225,000 | 25,431,375 | ||||||
9.25%, 11/15/2016 | 10,353,000 | 11,045,357 | ||||||
Multiplan, Inc. 9.88%, 9/1/2018 (a) | 22,075,000 | 23,454,688 | ||||||
Tenet Healthcare Corp. 8.88%, 7/1/2019 | 28,636,000 | 32,358,680 | ||||||
US Oncology, Inc. 9.13%, 8/15/2017 | 25,215,000 | 31,077,487 | ||||||
Vanguard Health Holding Co. II LLC/Vanguard Holding Co. II, Inc. Series 1 8.00%, 2/1/2018 | 30,705,000 | 31,472,625 | ||||||
214,429,962 | ||||||||
HOTELS, RESTAURANTS & LEISURE — 3.5% | ||||||||
Ameristar Casinos, Inc. 9.25%, 6/1/2014 | 23,120,000 | 24,738,400 | ||||||
CKE Restaurants, Inc. 11.38%, 7/15/2018 | 19,825,000 | 21,956,188 | ||||||
Harrah’s Operating Co., Inc. 10.00%, 12/15/2018 | 107,197,000 | 97,817,262 | ||||||
MGM Resorts International 11.13%, 11/15/2017 | 27,220,000 | 31,303,000 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp., Series 1 7.75%, 8/15/2020 | $ | 42,120,000 | $ | 45,594,900 | ||||
221,409,750 | ||||||||
HOUSEHOLD DURABLES — 0.8% | ||||||||
K Hovnanian Enterprises, Inc. 10.63%, 10/15/2016 | 25,375,000 | 26,009,375 | ||||||
Spectrum Brands Holdings, Inc. 9.50%, 6/15/2018 (a) | 23,075,000 | 25,353,656 | ||||||
51,363,031 | ||||||||
INDUSTRIAL CONGLOMERATES — 0.6% | ||||||||
RBS Global, Inc. / Rexnord LLC 8.50%, 5/1/2018 | 36,545,000 | 38,829,063 | ||||||
INSURANCE — 3.2% | ||||||||
American International Group, Inc. 8.18%, 5/15/2058 (c) | 127,118,000 | 135,356,390 | ||||||
Liberty Mutual Group, Inc. 10.75%, 6/15/2058 (a)(b)(c) | 39,475,000 | 47,764,750 | ||||||
MBIA Insurance Corp. 14.00%, 1/15/2033 (a)(c) | 29,625,000 | 15,923,438 | ||||||
199,044,578 | ||||||||
INTERNET SOFTWARE & SERVICES — 0.4% | ||||||||
Equinix, Inc. 8.13%, 3/1/2018 | 24,005,000 | 25,085,225 | ||||||
IT SERVICES — 2.1% | ||||||||
First Data Corp.: | ||||||||
8.25%, 1/15/2021 (a) | 38,418,000 | 36,881,280 | ||||||
11.25%, 3/31/2016 | 30,920,000 | 27,055,000 | ||||||
12.63%, 1/15/2021 (a) | 38,418,000 | 36,689,190 | ||||||
First Data Corp. PIK 10.55%, 9/24/2015 | 8,587,860 | 8,136,997 | ||||||
GXS Worldwide, Inc. 9.75%, 6/15/2015 | 22,965,000 | 22,677,938 | ||||||
131,440,405 | ||||||||
MACHINERY — 1.3% | ||||||||
Case New Holland, Inc.: | ||||||||
7.75%, 9/1/2013 | 19,775,000 | 21,258,125 | ||||||
7.88%, 12/1/2017 (a) | 27,875,000 | 30,453,437 | ||||||
SPX Corp. 6.88%, 9/1/2017 (a) | 20,190,000 | 21,451,875 | ||||||
The Manitowoc Co, Inc. 8.50%, 11/1/2020 | 10,380,000 | 11,028,750 | ||||||
84,192,187 | ||||||||
MEDIA — 8.4% | ||||||||
AMC Entertainment, Inc. 8.75%, 6/1/2019 | 19,116,000 | 20,406,330 | ||||||
Cablevision Systems Corp. 8.63%, 9/15/2017 (b) | 29,150,000 | 31,737,063 | ||||||
CCH II LLC / CCH II Capital Corp. 13.50%, 11/30/2016 | 55,825,000 | 66,571,312 | ||||||
Cequel Communications Holdings I LLC and Cequel Capital Corp. 8.63%, 11/15/2017 (a)(b) | 35,500,000 | 37,097,500 | ||||||
Clear Channel Worldwide Holdings, Inc. 9.25%, 12/15/2017 | 63,950,000 | 70,025,250 | ||||||
DISH DBS Corp. 7.88%, 9/1/2019 | 45,885,000 | 47,949,825 | ||||||
Nielsen Finance LLC / Nielsen Finance Co. 7.75%, 10/15/2018 (a) | 34,100,000 | 35,293,500 | ||||||
Sirius XM Radio, Inc. 8.75%, 4/1/2015 (a) | 25,650,000 | 27,766,125 | ||||||
The Interpublic Group of Cos., Inc. 10.00%, 7/15/2017 | 19,045,000 | 22,282,650 | ||||||
The McClatchy Co. 11.50%, 2/15/2017 | 27,780,000 | 31,217,775 | ||||||
Umbrella Acquisition, Inc. PIK 9.75%, 3/15/2015 (a) | 657 | 710 | ||||||
Unitymedia Hessen Gmbh & Co. 8.13%, 12/1/2017 (a) | 26,955,000 | 28,167,975 | ||||||
Univision Communications, Inc. 7.88%, 11/1/2020 (a) | 23,885,000 | 25,079,250 | ||||||
Videotron Ltee 9.13%, 4/15/2018 | 22,420,000 | 24,998,300 | ||||||
Visant Corp. 10.00%, 10/1/2017 (a) | 25,310,000 | 26,891,875 | ||||||
WMG Acquisition Corp. 9.50%, 6/15/2016 | 35,340,000 | 37,902,150 | ||||||
533,387,590 | ||||||||
METALS & MINING — 1.4% | ||||||||
FMG Resources August 2006 Pty, Ltd. 7.00%, 11/1/2015 (a) | 64,920,000 | 66,543,000 | ||||||
United States Steel Corp. 7.38%, 4/1/2020 | 19,820,000 | 20,315,500 | ||||||
86,858,500 | ||||||||
MULTILINE RETAIL — 1.4% | ||||||||
Macy’s Retail Holdings, Inc. 8.38%, 7/15/2015 (e) | 21,795,000 | 25,500,150 | ||||||
Sears Holding Corp. 6.63%, 10/15/2018 (a)(b) | 32,065,000 | 29,900,613 | ||||||
SUPERVALU, Inc. 8.00%, 5/1/2016 | 32,163,000 | 30,796,072 | ||||||
86,196,835 | ||||||||
OFFICE/BUSINESS EQUIPMENT — 0.5% | ||||||||
CDW LLC / CDW Finance Corp. 11.00%, 10/12/2015 (b) | 28,050,000 | 29,101,875 | ||||||
OIL, GAS & CONSUMABLE FUELS — 11.4% | ||||||||
Arch Coal, Inc. 8.75%, 8/1/2016 | 19,260,000 | 20,993,400 | ||||||
ATP Oil & Gas Corp. 11.88%, 5/1/2015 (a) | 47,665,000 | 45,043,425 | ||||||
Chesapeake Energy Corp. 9.50%, 2/15/2015 | 45,463,000 | 51,259,532 | ||||||
Concho Resources, Inc. 7.00%, 1/15/2021 | 19,470,000 | 19,956,750 | ||||||
Consol Energy, Inc. 8.00%, 4/1/2017 (a) | 46,975,000 | 50,028,375 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Crosstex Energy LP / Crosstex Energy Finance Corp. 8.88%, 2/15/2018 | $ | 24,265,000 | $ | 25,993,881 | ||||
Denbury Resources, Inc. 8.25%, 2/15/2020 | 31,415,000 | 34,085,275 | ||||||
El Paso Corp.: | ||||||||
7.00%, 6/15/2017 | 14,092,000 | 14,871,499 | ||||||
7.25%, 6/1/2018 | 4,500,000 | 4,817,318 | ||||||
Enbridge Energy Partners LP 8.05%, 10/1/2037 (c) | 100,000 | 102,834 | ||||||
Energy Transfer Equity LP 7.50%, 10/15/2020 | 57,222,000 | 58,938,660 | ||||||
Energy XXI Gulf Coast, Inc.: | ||||||||
9.25%, 12/15/2017 (a) | 24,150,000 | 25,116,000 | ||||||
10.00%, 6/15/2013 | 839 | 875 | ||||||
EXCO Resources, Inc. 7.50%, 9/15/2018 | 24,575,000 | 24,083,500 | ||||||
Expro Finance Luxembourg SCA 8.50%, 12/15/2016 (a) | 44,840,000 | 42,822,200 | ||||||
Forest Oil Corp.: | ||||||||
7.25%, 6/15/2019 | 17,463,000 | 17,724,945 | ||||||
8.50%, 2/15/2014 | 2,500,000 | 2,731,250 | ||||||
Linn Energy LLC/ Linn Energy Finance Corp. 8.63%, 4/15/2020 (a) | 41,205,000 | 44,398,387 | ||||||
Newfield Exploration Co. 6.88%, 2/1/2020 | 22,375,000 | 23,549,688 | ||||||
NGPL PipeCo LLC 7.12%, 12/15/2017 (a) | 17,850,000 | 19,541,769 | ||||||
Peabody Energy Corp. 6.50%, 9/15/2020 | 21,610,000 | 23,068,675 | ||||||
Petrohawk Energy Corp.: | ||||||||
7.25%, 8/15/2018 | 14,185,000 | 14,326,850 | ||||||
7.88%, 6/1/2015 | 12,825,000 | 13,354,031 | ||||||
Precision Drilling Corp. 6.63%, 11/15/2020 (a) | 23,025,000 | 23,427,938 | ||||||
Pride International, Inc. 6.88%, 8/15/2020 | 28,835,000 | 29,916,312 | ||||||
QEP Resources, Inc. 6.88%, 3/1/2021 | 20,210,000 | 21,220,500 | ||||||
Quicksilver Resources, Inc. 11.75%, 1/1/2016 | 19,010,000 | 22,146,650 | ||||||
SandRidge Energy, Inc. 8.00%, 6/1/2018 (a) | 23,420,000 | 23,771,300 | ||||||
Southern Union Co. 7.20%, 11/1/2066 (c) | 25,000 | 23,031 | ||||||
Southwestern Energy Co. 7.50%, 2/1/2018 (b) | 19,621,000 | 22,122,678 | ||||||
719,437,528 | ||||||||
PAPER & FOREST PRODUCTS — 1.8% | ||||||||
ABI Escrow Corp. 10.25%, 10/15/2018 (a) | 11,950,000 | 13,085,250 | ||||||
Georgia-Pacific LLC 5.40%, 11/1/2020 (a) | 40,750,000 | 40,288,669 | ||||||
NewPage Corp. 11.38%, 12/31/2014 | 56,115,000 | 52,748,100 | ||||||
Sino-Forest Corp. 6.25%, 10/21/2017 (a) | 6,250,000 | 6,304,688 | ||||||
112,426,707 | ||||||||
PHARMACEUTICALS — 2.6% | ||||||||
ConvaTec Healthcare E SA 10.50%, 12/15/2018 (a) | 13,500,000 | 13,685,625 | ||||||
Elan Finance PLC / Elan Finance Corp. 8.75%, 10/15/2016 | 19,710,000 | 19,808,550 | ||||||
Mylan, Inc. 7.88%, 7/15/2020 (a) | 31,525,000 | 33,968,187 | ||||||
NBTY, Inc. 9.00%, 10/1/2018 (a) | 21,390,000 | 22,833,825 | ||||||
Valeant Pharmaceuticals International: | ||||||||
6.88%, 12/1/2018 (a) | 27,150,000 | 26,946,375 | ||||||
7.00%, 10/1/2020 (a) | 5,090,000 | 5,026,375 | ||||||
Warner Chilcott Co. LLC/Warner Chilcott Finance LLC, Series 1 7.75%, 9/15/2018 (a) | 39,040,000 | 39,430,400 | ||||||
161,699,337 | ||||||||
PIPELINES — 0.3% | ||||||||
Kinder Morgan Finance Co. LLC 6.00%, 1/15/2018 (a)(b) | 2,750,000 | 2,701,875 | ||||||
Regency Energy Partners LP/Regency Energy Finance Corp. 6.88%, 12/1/2018 | 18,600,000 | 18,832,500 | ||||||
21,534,375 | ||||||||
REAL ESTATE INVESTMENT TRUSTS — 2.5% | ||||||||
Evergrande Real Estate Group Ltd. 13.00%, 1/27/2015 (a) | 42,625,000 | 46,407,969 | ||||||
Felcor Lodging LP 10.00%, 10/1/2014 | 20,210,000 | 22,635,200 | ||||||
Residential Capital LLC 9.63%, 5/15/2015 | 67,015,000 | 67,685,150 | ||||||
The Rouse Co. 6.75%, 11/9/2015 (b) | 19,750,000 | 20,441,250 | ||||||
157,169,569 | ||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 1.0% | ||||||||
Agile Property Holdings, Ltd. 8.88%, 4/28/2017 (a) | 20,825,000 | 21,293,562 | ||||||
Atlantic Finance, Ltd. Series 1 10.75%, 5/27/2014 (a) | 37,425,000 | 39,265,561 | ||||||
Renhe Commercial Holdings Co. Ltd. 13.00%, 3/10/2016 (a) | 750,000 | 756,548 | ||||||
61,315,671 | ||||||||
REGIONAL BANKS — 0.1% | ||||||||
Regions Bank 7.50%, 5/15/2018 | 7,400,000 | 7,622,000 | ||||||
ROAD & RAIL — 0.3% | ||||||||
Avis Budget Car Rental LLC / Avis Budget Finance, Inc. 8.25%, 1/15/2019 (a) | 20,035,000 | 20,235,350 | ||||||
SEMICONDUCTORS — 1.2% | ||||||||
Freescale Semiconductor, Inc. Series 1 9.25%, 4/15/2018 (a) | 46,535,000 | 51,188,500 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
STATS ChipPAC, Ltd. 7.50%, 8/12/2015 (a) | $ | 19,900,000 | $ | 21,442,250 | ||||
72,630,750 | ||||||||
SPECIALTY RETAIL — 4.0% | ||||||||
Blue Acquisition Sub, Inc. 9.88%, 10/15/2018 (a) | 26,235,000 | 27,940,275 | ||||||
DineEquity, Inc. 9.50%, 10/30/2018 (a) | 26,465,000 | 28,052,900 | ||||||
Dunkin Finance Corp. 9.63%, 12/1/2018 (a)(b) | 20,435,000 | 20,639,350 | ||||||
Inergy LP/Inergy Finance Corp. 7.00%, 10/1/2018 (a) | 21,500,000 | 21,661,250 | ||||||
MCE Finance, Ltd. 10.25%, 5/15/2018 | 18,375,000 | 21,062,344 | ||||||
Michaels Stores, Inc. 7.75%, 11/1/2018 (a) | 25,540,000 | 25,476,150 | ||||||
Phillips-Van Heusen Corp. 7.38%, 5/15/2020 (b) | 18,965,000 | 20,150,313 | ||||||
QVC, Inc. 7.50%, 10/1/2019 (a) | 32,240,000 | 33,932,600 | ||||||
Rite Aid Corp. 8.00%, 8/15/2020 | 20,350,000 | 21,189,437 | ||||||
Toys R Us Property Co. I LLC 10.75%, 7/15/2017 (b) | 30,137,000 | 34,356,180 | ||||||
254,460,799 | ||||||||
TEXTILES, APPAREL & LUXURY GOODS — 0.5% | ||||||||
Hanesbrands, Inc. 6.38%, 12/15/2020 (a)(b) | 31,815,000 | 30,224,250 | ||||||
TOBACCO — 0.4% | ||||||||
Alliance One International, Inc. 10.00%, 7/15/2016 | 22,337,000 | 22,895,425 | ||||||
TRADING COMPANIES & DISTRIBUTORS — 0.4% | ||||||||
United Rentals North America, Inc. 8.38%, 9/15/2020 | 24,310,000 | 24,735,425 | ||||||
TRANSPORTATION INFRASTRUCTURE — 0.9% | ||||||||
AWAS Aviation Capital, Ltd. 7.00%, 10/15/2016 (a) | 20,750,000 | 20,568,438 | ||||||
CHC Helicopter SA 9.25%, 10/15/2020 (a) | 34,600,000 | 35,811,000 | ||||||
56,379,438 | ||||||||
WIRELESS TELECOMMUNICATION SERVICES — 5.2% | ||||||||
Avaya, Inc. 9.75%, 11/1/2015 | 16,025,000 | 16,305,438 | ||||||
Avaya, Inc. PIK 10.13%, 11/1/2015 | 10,771,875 | 11,041,172 | ||||||
Cincinnati Bell, Inc.: | ||||||||
8.38%, 10/15/2020 | 4,000,000 | 3,840,000 | ||||||
8.75%, 3/15/2018 | 20,875,000 | 19,570,313 | ||||||
Clearwire Communications LLC/Clearwire Finance, Inc. 12.00%, 12/1/2015 (a) | 58,155,000 | 62,662,012 | ||||||
Crown Castle International Corp. 9.00%, 1/15/2015 (b) | 28,100,000 | 30,980,250 | ||||||
MetroPCS Wireless, Inc. 7.88%, 9/1/2018 | 32,195,000 | 33,402,312 | ||||||
NII Capital Corp. 10.00%, 8/15/2016 (b) | 25,675,000 | 28,435,063 | ||||||
Qwest Communications International, Inc. 7.13%, 4/1/2018 | 25,330,000 | 26,216,550 | ||||||
Sprint Nextel Corp. 8.38%, 8/15/2017 | 41,275,000 | 44,267,437 | ||||||
Telesat Canada / Telesat LLC 11.00%, 11/1/2015 | 20,300,000 | 22,786,750 | ||||||
Windstream Corp. 7.88%, 11/1/2017 | 28,525,000 | 29,986,906 | ||||||
329,494,203 | ||||||||
TOTAL CORPORATE BONDS & NOTES — | ||||||||
(Cost $5,850,349,567) | 6,173,883,306 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENT — 1.5% | ||||||||
MONEY MARKET FUND — 1.5% | ||||||||
State Street Institutional Liquid Reserves Fund 0.18% (f)(g)(h) (Cost $96,742,366) | 96,742,366 | 96,742,366 | ||||||
TOTAL INVESTMENTS — 99.3% (i) | ||||||||
(Cost $5,947,091,933) | 6,270,625,672 | |||||||
OTHER ASSETS & LIABILITIES — 0.7% | 44,639,964 | |||||||
NET ASSETS — 100.0% | $ | 6,315,265,636 | ||||||
(a) | Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 41.1% of net assets as of December 31, 2010, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||
(b) | Securities are valued at fair value as determined in good faith by the Trust’s Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. Securities value are determined based on Level 2 inputs. | |||||
(c) | Variable Rate Security. Rate shown is rate in effect at December 31, 2010. Maturity date disclosed is the ultimate maturity. | |||||
(d) | Amount shown represents less than 0.05% of net assets. | |||||
(e) | Step Bond — coupon rate increases in increments to maturity. Rate disclosed is as of December 31, 2010. Maturity date disclosed is the ultimate maturity. | |||||
(f) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(g) | Value is determined based on Level 1 inputs. (Note 2) | |||||
(h) | The rate shown is the annualized seven-day yield at period end. | |||||
(i) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
PIK = Payment in Kind
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
CORPORATE BONDS & NOTES — 98.8% | ||||||||
AEROSPACE & DEFENSE — 1.4% | ||||||||
General Dynamics Corp. 4.25%, 5/15/2013 | $ | 500,000 | $ | 535,592 | ||||
Honeywell International, Inc.: | ||||||||
4.25%, 3/1/2013 | 500,000 | 531,992 | ||||||
5.63%, 8/1/2012 | 105,000 | 112,610 | ||||||
Lockheed Martin Corp. 4.12%, 3/14/2013 | 200,000 | 211,550 | ||||||
The Boeing Co. 1.88%, 11/20/2012 | 890,000 | 906,201 | ||||||
United Technologies Corp. 6.10%, 5/15/2012 | 355,000 | 378,602 | ||||||
2,676,547 | ||||||||
AIR FREIGHT & LOGISTICS — 0.4% | ||||||||
United Parcel Service, Inc. 4.50%, 1/15/2013 | 680,000 | 724,393 | ||||||
AUTOMOBILES — 1.1% | ||||||||
Daimler Finance North America LLC: | ||||||||
6.50%, 11/15/2013 | 1,000,000 | 1,131,055 | ||||||
7.30%, 1/15/2012 | 480,000 | 510,140 | ||||||
PACCAR Financial Corp. 2.05%, 6/17/2013 | 300,000 | 303,267 | ||||||
PACCAR, Inc. 6.38%, 2/15/2012 | 205,000 | 216,907 | ||||||
2,161,369 | ||||||||
BEVERAGES — 2.6% | ||||||||
Anheuser-Busch InBev Worldwide, Inc.: | ||||||||
2.50%, 3/26/2013 | 660,000 | 673,765 | ||||||
3.00%, 10/15/2012 | 885,000 | 912,315 | ||||||
Bottling Group LLC 4.63%, 11/15/2012 | 155,000 | 165,696 | ||||||
Coca-Cola Enterprises, Inc.: | ||||||||
1.13%, 11/12/2013 | 100,000 | 98,961 | ||||||
3.75%, 3/1/2012 | 255,000 | 264,021 | ||||||
Diageo Capital PLC 5.13%, 1/30/2012 | 570,000 | 595,207 | ||||||
Dr. Pepper Snapple Group, Inc. 2.35%, 12/21/2012 | 350,000 | 357,826 | ||||||
PepsiCo, Inc.: | ||||||||
0.88%, 10/25/2013 | 500,000 | 494,182 | ||||||
4.65%, 2/15/2013 | 765,000 | 820,182 | ||||||
5.15%, 5/15/2012 | 255,000 | 270,108 | ||||||
The Coca-Cola Co. 0.75%, 11/15/2013 | 500,000 | 491,617 | ||||||
5,143,880 | ||||||||
CAPITAL MARKETS — 7.3% | ||||||||
Morgan Stanley: | ||||||||
5.25%, 11/2/2012 | 926,000 | 986,908 | ||||||
5.30%, 3/1/2013 | 1,015,000 | 1,082,368 | ||||||
6.60%, 4/1/2012 | 2,050,000 | 2,185,575 | ||||||
TD Ameritrade Holding Corp. 2.95%, 12/1/2012 | 250,000 | 255,870 | ||||||
The Bank of New York Mellon Corp. 4.95%, 11/1/2012 | 760,000 | 811,525 | ||||||
The Bear Stearns Cos. LLC: | ||||||||
5.35%, 2/1/2012 | 1,085,000 | 1,138,145 | ||||||
6.95%, 8/10/2012 | 770,000 | 840,962 | ||||||
The Goldman Sachs Group, Inc.: | ||||||||
3.63%, 8/1/2012 | 1,400,000 | 1,451,973 | ||||||
5.25%, 4/1/2013 | 550,000 | 589,786 | ||||||
5.25%, 10/15/2013 | 1,350,000 | 1,466,594 | ||||||
5.45%, 11/1/2012 | 1,690,000 | 1,808,665 | ||||||
5.70%, 9/1/2012 | 385,000 | 412,175 | ||||||
6.60%, 1/15/2012 | 920,000 | 973,611 | ||||||
UBS AG 2.75%, 1/8/2013 | 255,000 | 258,275 | ||||||
14,262,432 | ||||||||
CHEMICALS — 1.3% | ||||||||
Airgas, Inc. 2.85%, 10/1/2013 | 250,000 | 251,332 | ||||||
E.I. du Pont de Nemours & Co. 5.00%, 1/15/2013 | 436,000 | 467,924 | ||||||
Praxair, Inc.: | ||||||||
1.75%, 11/15/2012 | 310,000 | 313,727 | ||||||
2.13%, 6/14/2013 | 350,000 | 356,547 | ||||||
The Dow Chemical Co. 4.85%, 8/15/2012 | 1,125,000 | 1,187,034 | ||||||
2,576,564 | ||||||||
COMMERCIAL BANKS — 14.8% | ||||||||
American Express Bank FSB: | ||||||||
5.50%, 4/16/2013 | 1,000,000 | 1,078,055 | ||||||
5.55%, 10/17/2012 | 385,000 | 412,856 | ||||||
Bank of Montreal 2.13%, 6/28/2013 | 500,000 | 508,267 | ||||||
Bank of Nova Scotia 2.25%, 1/22/2013 | 775,000 | 790,746 | ||||||
Barclays Bank PLC: | ||||||||
2.50%, 1/23/2013 | 765,000 | 776,608 | ||||||
5.45%, 9/12/2012 | 800,000 | 856,246 | ||||||
BB&T Corp. 3.38%, 9/25/2013 | 500,000 | 519,585 | ||||||
BNP Paribas / BNP Paribas US 2.13%, 12/21/2012 | 525,000 | 533,413 | ||||||
Canadian Imperial Bank of Commerce/Canada 1.45%, 9/13/2013 | 350,000 | 348,644 | ||||||
Charter One Bank NA 6.38%, 5/15/2012 | 250,000 | 259,708 | ||||||
Credit Suisse of New York, NY 5.00%, 5/15/2013 | 2,000,000 | 2,152,924 | ||||||
Deutsche Bank AG: | ||||||||
2.38%, 1/11/2013 | 815,000 | 826,784 | ||||||
4.88%, 5/20/2013 | 1,350,000 | 1,447,262 | ||||||
5.38%, 10/12/2012 | 1,100,000 | 1,179,646 | ||||||
Fifth Third Bancorp 6.25%, 5/1/2013 | 350,000 | 379,995 | ||||||
Golden West Financial Corp. 4.75%, 10/1/2012 | 1,000,000 | 1,049,697 | ||||||
HSBC Holdings PLC 5.25%, 12/12/2012 | 270,000 | 285,348 | ||||||
ICICI Bank, Ltd. 6.63%, 10/3/2012 (a) | 310,000 | 330,059 | ||||||
JPMorgan Chase & Co.: | ||||||||
4.75%, 5/1/2013 | 1,000,000 | 1,071,915 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
5.38%, 10/1/2012 | $ | 1,290,000 | $ | 1,380,652 | ||||
5.75%, 1/2/2013 | 800,000 | 864,407 | ||||||
KeyBank NA: | ||||||||
5.50%, 9/17/2012 | 310,000 | 328,966 | ||||||
5.70%, 8/15/2012 | 255,000 | 269,663 | ||||||
M&I Marshall & Ilsley Bank 5.25%, 9/4/2012 | 60,000 | 62,400 | ||||||
Mercantile Bankshares Corp. 4.63%, 4/15/2013 | 250,000 | 258,929 | ||||||
Royal Bank of Canada: | ||||||||
2.10%, 7/29/2013 | 1,000,000 | 1,015,188 | ||||||
2.25%, 3/15/2013 | 205,000 | 209,904 | ||||||
SunTrust Banks, Inc. 5.25%, 11/5/2012 | 255,000 | 268,741 | ||||||
The Bank of New York Mellon Corp. 6.38%, 4/1/2012 | 645,000 | 686,698 | ||||||
The Royal Bank Of Scotland Plc 3.40%, 8/23/2013 | 500,000 | 505,074 | ||||||
US Bancorp: | ||||||||
1.38%, 9/13/2013 | 750,000 | 745,613 | ||||||
2.00%, 6/14/2013 | 500,000 | 503,624 | ||||||
Wachovia Corp. 5.50%, 5/1/2013 | 1,350,000 | 1,466,935 | ||||||
Wells Fargo & Co.: | ||||||||
4.38%, 1/31/2013 | 515,000 | 544,157 | ||||||
4.95%, 10/16/2013 | 750,000 | 808,764 | ||||||
5.25%, 10/23/2012 | 1,545,000 | 1,658,210 | ||||||
Wells Fargo Capital XIII 7.70%, 12/29/2049 | 1,515,000 | 1,560,450 | ||||||
Westpac Banking Corp. 2.25%, 11/19/2012 | 1,060,000 | 1,078,683 | ||||||
29,024,816 | ||||||||
COMMERCIAL SERVICES & SUPPLIES — 0.3% | ||||||||
Block Financial LLC 7.88%, 1/15/2013 | 155,000 | 161,200 | ||||||
Waste Management, Inc. 6.38%, 11/15/2012 | 450,000 | 489,473 | ||||||
650,673 | ||||||||
COMMUNICATIONS EQUIPMENT — 0.5% | ||||||||
Motorola, Inc. 5.38%, 11/15/2012 | 1,000,000 | 1,055,000 | ||||||
COMPUTERS & PERIPHERALS — 3.1% | ||||||||
Dell, Inc. 4.70%, 4/15/2013 | 500,000 | 535,309 | ||||||
Hewlett-Packard Co.: | ||||||||
1.25%, 9/13/2013 | 500,000 | 498,716 | ||||||
4.25%, 2/24/2012 | 525,000 | 545,951 | ||||||
4.50%, 3/1/2013 | 565,000 | 603,533 | ||||||
5.25%, 3/1/2012 | 250,000 | 262,892 | ||||||
6.50%, 7/1/2012 | 250,000 | 270,619 | ||||||
HP Enterprise Services LLC, Series B 6.00%, 8/1/2013 | 600,000 | 668,206 | ||||||
International Business Machines Corp.: | ||||||||
1.00%, 8/5/2013 | 1,000,000 | 993,713 | ||||||
2.10%, 5/6/2013 | 750,000 | 764,749 | ||||||
4.75%, 11/29/2012 | 580,000 | 621,646 | ||||||
6.50%, 10/15/2013 | 300,000 | 340,397 | ||||||
6,105,731 | ||||||||
CONSTRUCTION MATERIALS — 0.0% (b) | ||||||||
Vulcan Materials Co. 5.60%, 11/30/2012 | 40,000 | 42,149 | ||||||
CONSUMER FINANCE — 0.1% | ||||||||
SLM Corp. 5.00%, 10/1/2013 | 200,000 | 199,000 | ||||||
DIVERSIFIED FINANCIAL SERVICES — 20.2% | ||||||||
Allstate Life Global Funding Trusts 5.38%, 4/30/2013 | 750,000 | 814,913 | ||||||
American Express Credit Corp.: | ||||||||
5.88%, 5/2/2013 | 300,000 | 326,416 | ||||||
7.30%, 8/20/2013 | 1,000,000 | 1,131,345 | ||||||
Bank of America Corp.: | ||||||||
4.88%, 9/15/2012 | 515,000 | 537,486 | ||||||
4.88%, 1/15/2013 | 250,000 | 260,729 | ||||||
4.90%, 5/1/2013 | 750,000 | 785,361 | ||||||
BlackRock, Inc. 2.25%, 12/10/2012 | 550,000 | 562,124 | ||||||
Boeing Capital Corp. 5.80%, 1/15/2013 | 255,000 | 277,760 | ||||||
BP Capital Markets PLC: | ||||||||
3.13%, 3/10/2012 | 900,000 | 919,141 | ||||||
5.25%, 11/7/2013 | 750,000 | 813,551 | ||||||
Capital One Bank USA NA 6.50%, 6/13/2013 | 350,000 | 382,654 | ||||||
Capital One Financial Corp. 6.25%, 11/15/2013 | 250,000 | 274,746 | ||||||
Caterpillar Financial Services Corp.: | ||||||||
1.90%, 12/17/2012 | 500,000 | 508,234 | ||||||
2.00%, 4/5/2013 | 155,000 | 157,419 | ||||||
4.85%, 12/7/2012 | 360,000 | 385,398 | ||||||
Citigroup, Inc.: | ||||||||
5.25%, 2/27/2012 | 515,000 | 537,339 | ||||||
5.30%, 10/17/2012 | 1,705,000 | 1,806,767 | ||||||
5.50%, 8/27/2012 | 500,000 | 529,192 | ||||||
5.50%, 4/11/2013 | 1,550,000 | 1,657,721 | ||||||
5.63%, 8/27/2012 | 550,000 | 579,068 | ||||||
6.00%, 2/21/2012 | 515,000 | 540,765 | ||||||
6.50%, 8/19/2013 | 1,200,000 | 1,320,034 | ||||||
Countrywide Financial Corp. 5.80%, 6/7/2012 | 2,020,000 | 2,122,038 | ||||||
Credit Suisse 3.45%, 7/2/2012 | 1,050,000 | 1,088,286 | ||||||
Credit Suisse USA, Inc. 6.50%, 1/15/2012 | 515,000 | 544,203 | ||||||
Franklin Resources, Inc. 2.00%, 5/20/2013 | 360,000 | 362,959 | ||||||
General Electric Capital Corp.: | ||||||||
1.88%, 9/16/2013 | 1,000,000 | 999,938 | ||||||
2.80%, 1/8/2013 | 2,295,000 | 2,349,648 | ||||||
4.38%, 3/3/2012 | 750,000 | 778,974 | ||||||
4.80%, 5/1/2013 | 1,250,000 | 1,336,857 | ||||||
5.25%, 10/19/2012 | 1,085,000 | 1,159,991 | ||||||
5.45%, 1/15/2013 | 790,000 | 849,991 | ||||||
5.88%, 2/15/2012 | 325,000 | 342,447 | ||||||
6.00%, 6/15/2012 | 3,375,000 | 3,610,616 |
See accompanying notes to financial statements.
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SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
Goldman Sachs Capital II 5.79%, 6/1/2043 | $ | 275,000 | $ | 231,000 | ||||
HSBC Finance Corp.: | ||||||||
5.90%, 6/19/2012 | 105,000 | 111,204 | ||||||
7.00%, 5/15/2012 | 1,690,000 | 1,807,358 | ||||||
IBM International Group Capital LLC 5.05%, 10/22/2012 | 360,000 | 387,415 | ||||||
Merrill Lynch & Co, Inc.: | ||||||||
5.45%, 2/5/2013 | 1,220,000 | 1,281,549 | ||||||
6.05%, 8/15/2012 | 1,000,000 | 1,060,182 | ||||||
6.15%, 4/25/2013 | 500,000 | 534,425 | ||||||
National Rural Utilities Cooperative Finance Corp.: | ||||||||
5.50%, 7/1/2013 | 750,000 | 821,461 | ||||||
7.25%, 3/1/2012 | 550,000 | 589,766 | ||||||
NYSE Euronext 4.80%, 6/28/2013 | 500,000 | 537,696 | ||||||
SLM Corp. 5.13%, 8/27/2012 | 610,000 | 619,150 | ||||||
Toyota Motor Credit Corp. 1.38%, 8/12/2013 | 500,000 | 500,998 | ||||||
UBS AG of Stamford, CT 2.25%, 8/12/2013 | 500,000 | 505,371 | ||||||
39,641,686 | ||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 1.2% | ||||||||
British Telecommunications PLC 5.15%, 1/15/2013 | 330,000 | 350,003 | ||||||
Qwest Corp. 8.88%, 3/15/2012 | 985,000 | 1,067,082 | ||||||
Telefonica Emisiones SAU 5.86%, 2/4/2013 | 505,000 | 536,679 | ||||||
Telstra Corp., Ltd. 6.38%, 4/1/2012 | 155,000 | 163,821 | ||||||
Verizon Communications, Inc. 4.35%, 2/15/2013 | 250,000 | 265,111 | ||||||
2,382,696 | ||||||||
ELECTRIC UTILITIES — 5.0% | ||||||||
Allegheny Energy Supply Co. LLC 8.25%, 4/15/2012 (a) | 705,000 | 757,001 | ||||||
Appalachian Power Co. Series O 5.65%, 8/15/2012 | 410,000 | 436,482 | ||||||
Baltimore Gas & Electric Co. 6.13%, 7/1/2013 | 250,000 | 276,013 | ||||||
Carolina Power & Light Co. 6.50%, 7/15/2012 | 250,000 | 270,144 | ||||||
CenterPoint Energy Houston Electric LLC, Series J 5.70%, 3/15/2013 | 500,000 | 543,135 | ||||||
Commonwealth Edison Co. Series 9 6.15%, 3/15/2012 | 705,000 | 747,953 | ||||||
Consolidated Edison Co. of New York Series 2 4.88%, 2/1/2013 | 255,000 | 272,601 | ||||||
Consumers Energy Co., Series D 5.38%, 4/15/2013 | 114,000 | 123,371 | ||||||
Dominion Resources, Inc.: | ||||||||
5.00%, 3/15/2013 | 250,000 | 268,077 | ||||||
5.70%, 9/17/2012 | 130,000 | 139,647 | ||||||
Duke Energy Carolinas LLC: | ||||||||
5.63%, 11/30/2012 | 885,000 | 958,001 | ||||||
6.25%, 1/15/2012 | 250,000 | 263,398 | ||||||
Georgia Power Co. 1.30%, 9/15/2013 | 250,000 | 249,688 | ||||||
KCP&L Greater Missouri Operations Co. 11.88%, 7/1/2012 | 110,000 | 124,300 | ||||||
NextEra Energy Capital Holdings, Inc. 5.35%, 6/15/2013 | 500,000 | 540,601 | ||||||
Nisource Finance Corp. 6.15%, 3/1/2013 | 255,000 | 274,238 | ||||||
Oncor Electric Delivery Co. LLC 6.38%, 5/1/2012 | 275,000 | 292,250 | ||||||
Progress Energy, Inc. 6.85%, 4/15/2012 | 330,000 | 353,549 | ||||||
PSEG Power LLC: | ||||||||
2.50%, 4/15/2013 | 105,000 | 107,122 | ||||||
6.95%, 6/1/2012 | 210,000 | 226,291 | ||||||
Public Service Electric & Gas Co. 5.13%, 9/1/2012 | 295,000 | 314,555 | ||||||
Public Service of Colorado 7.88%, 10/1/2012 | 507,000 | 564,484 | ||||||
SCANA Corp. 6.25%, 2/1/2012 | 205,000 | 215,651 | ||||||
Southern Power Co. 6.25%, 7/15/2012 | 730,000 | 784,882 | ||||||
The Dayton Power & Light Co. 5.13%, 10/1/2013 | 200,000 | 218,058 | ||||||
Virginia Electric and Power Co. 5.10%, 11/30/2012 | 470,000 | 505,511 | ||||||
9,827,003 | ||||||||
ELECTRICAL EQUIPMENT — 0.5% | ||||||||
Emerson Electric Co. 5.63%, 11/15/2013 | 500,000 | 557,806 | ||||||
Roper Industries, Inc. 6.63%, 8/15/2013 | 400,000 | 444,339 | ||||||
1,002,145 | ||||||||
ELECTRONICS EQUIPMENT INSTRUMENTS & COMPONENTS — 0.1% | ||||||||
Agilent Technologies, Inc. 2.50%, 7/15/2013 | 250,000 | 251,860 | ||||||
FOOD & STAPLES RETAILING — 2.2% | ||||||||
Costco Wholesale Corp. 5.30%, 3/15/2012 | 305,000 | 321,623 | ||||||
CVS Caremark Corp. 6.30%, 6/1/2037 (c) | 220,000 | 210,100 | ||||||
Safeway, Inc. 5.80%, 8/15/2012 | 255,000 | 272,933 | ||||||
Target Corp.: | ||||||||
4.00%, 6/15/2013 | 185,000 | 197,278 | ||||||
5.13%, 1/15/2013 | 500,000 | 539,968 | ||||||
5.88%, 3/1/2012 | 370,000 | 391,984 | ||||||
The Kroger Co.: | ||||||||
6.20%, 6/15/2012 | 325,000 | 347,644 | ||||||
6.75%, 4/15/2012 | 330,000 | 352,908 | ||||||
Wal-Mart Stores, Inc.: | ||||||||
0.75%, 10/25/2013 | 250,000 | 246,708 | ||||||
4.25%, 4/15/2013 | 400,000 | 427,674 |
See accompanying notes to financial statements.
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SPDR Barclays Capital Short Term Corporate Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
4.55%, 5/1/2013 | $ | 1,000,000 | $ | 1,077,875 | ||||
4,386,695 | ||||||||
FOOD PRODUCTS — 2.3% | ||||||||
Campbell Soup Co. 5.00%, 12/3/2012 | 250,000 | 269,492 | ||||||
General Mills, Inc.: | ||||||||
5.25%, 8/15/2013 | 400,000 | 438,454 | ||||||
6.00%, 2/15/2012 | 500,000 | 527,827 | ||||||
H.J. Heinz Co. 6.00%, 3/15/2012 | 440,000 | 465,471 | ||||||
Kellogg Co.: | ||||||||
4.25%, 3/6/2013 | 205,000 | 216,833 | ||||||
5.13%, 12/3/2012 | 480,000 | 515,696 | ||||||
Kraft Foods, Inc.: | ||||||||
2.63%, 5/8/2013 | 350,000 | 359,091 | ||||||
6.00%, 2/11/2013 | 500,000 | 546,060 | ||||||
6.25%, 6/1/2012 | 580,000 | 621,020 | ||||||
Sara Lee Corp. 3.88%, 6/15/2013 | 500,000 | 518,730 | ||||||
4,478,674 | ||||||||
HEALTH CARE EQUIPMENT��& SUPPLIES — 0.5% | ||||||||
Baxter International, Inc. 1.80%, 3/15/2013 | 205,000 | 207,458 | ||||||
Covidien International Finance SA: | ||||||||
1.88%, 6/15/2013 | 500,000 | 505,750 | ||||||
5.45%, 10/15/2012 | 155,000 | 166,911 | ||||||
880,119 | ||||||||
HEALTH CARE PROVIDERS & SERVICES — 1.1% | ||||||||
Express Scripts, Inc. 5.25%, 6/15/2012 | 1,000,000 | 1,055,284 | ||||||
UnitedHealth Group, Inc. 4.88%, 2/15/2013 | 360,000 | 382,577 | ||||||
WellPoint, Inc. 6.80%, 8/1/2012 | 655,000 | 708,575 | ||||||
2,146,436 | ||||||||
HOTELS, RESTAURANTS & LEISURE — 0.2% | ||||||||
McDonald’s Corp. 5.75%, 3/1/2012 | 264,000 | 278,348 | ||||||
Yum! Brands, Inc. 7.70%, 7/1/2012 | 102,000 | 110,424 | ||||||
388,772 | ||||||||
HOUSEHOLD DURABLES — 0.2% | ||||||||
Whirlpool Corp. 8.00%, 5/1/2012 | 315,000 | 339,082 | ||||||
HOUSEHOLD PRODUCTS — 0.6% | ||||||||
Clorox Co.: | ||||||||
5.00%, 3/1/2013 | 250,000 | 267,212 | ||||||
5.45%, 10/15/2012 | 155,000 | 166,194 | ||||||
Fortune Brands, Inc. 3.00%, 6/1/2012 | 360,000 | 365,256 | ||||||
Newell Rubbermaid, Inc. 5.50%, 4/15/2013 | 350,000 | 375,657 | ||||||
1,174,319 | ||||||||
INDUSTRIAL CONGLOMERATES — 0.9% | ||||||||
3M Co. 4.65%, 12/15/2012 | 125,000 | 134,448 | ||||||
General Electric Co. 5.00%, 2/1/2013 | 1,035,000 | 1,107,316 | ||||||
Koninklijke Philips Electronics NV 4.63%, 3/11/2013 | 360,000 | 383,810 | ||||||
Tyco Electronics Group SA 6.00%, 10/1/2012 | 205,000 | 218,296 | ||||||
1,843,870 | ||||||||
INSURANCE — 3.2% | ||||||||
Aegon NV 4.75%, 6/1/2013 | 350,000 | 367,534 | ||||||
American International Group, Inc.: | ||||||||
4.25%, 5/15/2013 | 300,000 | 309,581 | ||||||
4.95%, 3/20/2012 | 155,000 | 159,813 | ||||||
Berkshire Hathaway Finance Corp.: | ||||||||
4.00%, 4/15/2012 | 885,000 | 921,241 | ||||||
4.60%, 5/15/2013 | 500,000 | 536,626 | ||||||
4.75%, 5/15/2012 | 515,000 | 542,344 | ||||||
Berkshire Hathaway, Inc. 2.13%, 2/11/2013 | 510,000 | 519,299 | ||||||
Chubb Corp. 5.20%, 4/1/2013 | 260,000 | 280,316 | ||||||
Nationwide Financial Services 5.90%, 7/1/2012 | 255,000 | 268,269 | ||||||
Principal Life Income Funding Trusts 5.30%, 12/14/2012 | 520,000 | 558,935 | ||||||
Prudential Financial, Inc.: | ||||||||
2.75%, 1/14/2013 | 55,000 | 55,767 | ||||||
3.63%, 9/17/2012 | 940,000 | 971,998 | ||||||
5.15%, 1/15/2013 | 155,000 | 164,877 | ||||||
The Allstate Corp. 6.13%, 2/15/2012 | 50,000 | 52,736 | ||||||
Travelers Property Casualty Corp. 5.00%, 3/15/2013 | 255,000 | 273,439 | ||||||
XL Capital Finance Europe PLC 6.50%, 1/15/2012 | 242,000 | 251,103 | ||||||
6,233,878 | ||||||||
INTERNET SOFTWARE & SERVICES — 0.1% | ||||||||
eBay, Inc. 0.88%, 10/15/2013 | 200,000 | 197,424 | ||||||
IT SERVICES — 0.3% | ||||||||
Computer Sciences Corp. Series W 5.50%, 3/15/2013 | 310,000 | 330,533 | ||||||
Fiserv, Inc. 6.13%, 11/20/2012 | 275,000 | 297,491 | ||||||
628,024 | ||||||||
LEISURE EQUIPMENT & PRODUCTS — 0.1% | ||||||||
Mattel, Inc. 5.63%, 3/15/2013 | 250,000 | 266,670 | ||||||
LIFE SCIENCES TOOLS & SERVICES — 0.2% | ||||||||
Life Technologies Corp. 3.38%, 3/1/2013 | 400,000 | 406,930 | ||||||
MACHINERY — 1.5% | ||||||||
John Deere Capital Corp.: | ||||||||
1.88%, 6/17/2013 | 1,400,000 | 1,417,834 |
See accompanying notes to financial statements.
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SPDR Barclays Capital Short Term Corporate Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
4.95%, 12/17/2012 | $ | 925,000 | $ | 992,042 | ||||
7.00%, 3/15/2012 | 435,000 | 467,290 | ||||||
2,877,166 | ||||||||
MEDIA — 3.0% | ||||||||
CBS Corp. 5.63%, 8/15/2012 | 19,000 | 20,045 | ||||||
Comcast Cable Communications Holdings, Inc.: | ||||||||
7.13%, 6/15/2013 | 500,000 | 559,220 | ||||||
8.38%, 3/15/2013 | 486,000 | 553,669 | ||||||
Cox Communications, Inc.: | ||||||||
4.63%, 6/1/2013 | 250,000 | 266,338 | ||||||
7.13%, 10/1/2012 | 402,000 | 439,070 | ||||||
The McGraw-Hill Companies, Inc. 5.38%, 11/15/2012 | 110,000 | 116,062 | ||||||
The Walt Disney Co.: | ||||||||
4.70%, 12/1/2012 | 310,000 | 331,723 | ||||||
6.38%, 3/1/2012 | 820,000 | 872,678 | ||||||
Thomson Reuters Corp. 5.95%, 7/15/2013 | 500,000 | 554,600 | ||||||
Time Warner Cable, Inc.: | ||||||||
5.40%, 7/2/2012 | 1,085,000 | 1,149,328 | ||||||
6.20%, 7/1/2013 | 390,000 | 431,796 | ||||||
Time Warner, Inc. 6.88%, 5/1/2012 | 500,000 | 534,992 | ||||||
5,829,521 | ||||||||
METALS & MINING — 2.4% | ||||||||
Alcoa, Inc. 5.38%, 1/15/2013 | 650,000 | 690,625 | ||||||
ArcelorMittal 5.38%, 6/1/2013 | 500,000 | 531,717 | ||||||
Barrick Gold Finance Co. LLC 6.13%, 9/15/2013 | 250,000 | 279,710 | ||||||
BHP Billiton Finance USA, Ltd. 5.13%, 3/29/2012 | 655,000 | 688,495 | ||||||
Nucor Corp. 5.00%, 12/1/2012 | 355,000 | 380,627 | ||||||
Rio Tinto Alcan, Inc.: | ||||||||
4.50%, 5/15/2013 | 1,050,000 | 1,115,605 | ||||||
4.88%, 9/15/2012 | 105,000 | 110,580 | ||||||
Vale Inco, Ltd. 7.75%, 5/15/2012 | 105,000 | 112,313 | ||||||
WMC Finance USA, Ltd. 5.13%, 5/15/2013 | 500,000 | 540,651 | ||||||
Xstrata Canada Corp. 7.25%, 7/15/2012 | 205,000 | 219,997 | ||||||
4,670,320 | ||||||||
MULTI-UTILITIES — 0.6% | ||||||||
MidAmerican Energy Holdings Co. 5.88%, 10/1/2012 | 755,000 | 815,274 | ||||||
Veolia Environnement 5.25%, 6/3/2013 | 340,000 | 367,280 | ||||||
1,182,554 | ||||||||
OFFICE ELECTRONICS — 0.3% | ||||||||
Xerox Corp.: | ||||||||
5.50%, 5/15/2012 | 125,000 | 131,941 | ||||||
5.65%, 5/15/2013 | 500,000 | 543,315 | ||||||
675,256 | ||||||||
OIL, GAS & CONSUMABLE FUELS — 4.9% | ||||||||
Apache Corp. 6.00%, 9/15/2013 | 500,000 | 559,468 | ||||||
Atmos Energy Corp. 5.13%, 1/15/2013 | 255,000 | 269,021 | ||||||
Canadian Natural Resources, Ltd. 5.15%, 2/1/2013 | 335,000 | 359,647 | ||||||
Chevron Corp. 3.45%, 3/3/2012 | 515,000 | 531,199 | ||||||
ConocoPhillips: | ||||||||
4.40%, 5/15/2013 | 500,000 | 533,093 | ||||||
4.75%, 10/15/2012 | 560,000 | 598,175 | ||||||
EnCana Corp. 4.75%, 10/15/2013 | 350,000 | 379,477 | ||||||
Enterprise Products Operating LLC: | ||||||||
5.65%, 4/1/2013 | 300,000 | 323,847 | ||||||
7.63%, 2/15/2012 | 440,000 | 470,385 | ||||||
Husky Energy, Inc. 6.25%, 6/15/2012 | 205,000 | 219,215 | ||||||
Kinder Morgan Energy Partners LP 5.85%, 9/15/2012 | 275,000 | 294,824 | ||||||
Marathon Global Funding Corp. 6.00%, 7/1/2012 | 275,000 | 293,928 | ||||||
NuStar Pipeline Operating Partnership LP 5.88%, 6/1/2013 | 250,000 | 269,375 | ||||||
Occidental Petroleum Corp. 1.45%, 12/13/2013 | 750,000 | 753,277 | ||||||
ONEOK Partners LP 5.90%, 4/1/2012 | 500,000 | 527,455 | ||||||
Plains All American Pipeline LP / PAA Finance Corp. 4.25%, 9/1/2012 | 275,000 | 286,936 | ||||||
Shell International Finance BV 1.88%, 3/25/2013 | 1,515,000 | 1,536,889 | ||||||
Spectra Energy Capital LLC 6.25%, 2/15/2013 | 244,000 | 263,068 | ||||||
Transcontinental Gas Pipe Line Co. LLC 8.88%, 7/15/2012 | 250,000 | 276,727 | ||||||
Transocean, Inc. 5.25%, 3/15/2013 | 300,000 | 315,622 | ||||||
Valero Energy Corp. 6.88%, 4/15/2012 | 310,000 | 328,306 | ||||||
Weatherford International, Ltd. 4.95%, 10/15/2013 | 200,000 | 211,744 | ||||||
9,601,678 | ||||||||
PERSONAL PRODUCTS — 0.4% | ||||||||
Johnson & Johnson 5.15%, 8/15/2012 | 355,000 | 380,140 | ||||||
The Procter & Gamble Co. 1.38%, 8/1/2012 | 395,000 | 398,570 | ||||||
778,710 | ||||||||
PHARMACEUTICALS — 3.9% | ||||||||
Abbott Laboratories 5.15%, 11/30/2012 | 275,000 | 295,656 |
See accompanying notes to financial statements.
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SPDR Barclays Capital Short Term Corporate Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Principal | ||||||||
Security Description | Amount | Value | ||||||
AstraZeneca PLC 5.40%, 9/15/2012 | $ | 830,000 | $ | 894,253 | ||||
Bristol-Myers Squibb Co. 5.25%, 8/15/2013 | 150,000 | 164,624 | ||||||
Eli Lilly & Co. 3.55%, 3/6/2012 | 680,000 | 701,521 | ||||||
GlaxoSmithKline Capital, Inc. 4.85%, 5/15/2013 | 1,400,000 | 1,516,499 | ||||||
McKesson Corp. 7.75%, 2/1/2012 | 155,000 | 164,848 | ||||||
Merck & Co, Inc. 5.30%, 12/1/2013 | 1,000,000 | 1,117,252 | ||||||
Novartis Capital Corp. 1.90%, 4/24/2013 | 725,000 | 735,927 | ||||||
Pfizer, Inc. 4.45%, 3/15/2012 | 1,450,000 | 1,514,265 | ||||||
Teva Pharmaceutical Finance III LLC 1.50%, 6/15/2012 | 350,000 | 352,678 | ||||||
Wyeth 5.50%, 3/15/2013 | 255,000 | 278,516 | ||||||
7,736,039 | ||||||||
REAL ESTATE INVESTMENT TRUSTS — 0.6% | ||||||||
Duke Realty LP 6.25%, 5/15/2013 | 350,000 | 375,870 | ||||||
ERP Operating LP 5.20%, 4/1/2013 | 250,000 | 266,954 | ||||||
HCP, Inc. 6.45%, 6/25/2012 | 130,000 | 137,237 | ||||||
Hospitality Properties Trust 6.75%, 2/15/2013 | 350,000 | 373,816 | ||||||
1,153,877 | ||||||||
ROAD & RAIL — 0.5% | ||||||||
CSX Corp. 5.50%, 8/1/2013 | 500,000 | 542,560 | ||||||
Union Pacific Corp. 5.45%, 1/31/2013 | 410,000 | 440,882 | ||||||
983,442 | ||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 0.1% | ||||||||
National Semiconductor Corp. 6.15%, 6/15/2012 | 250,000 | 264,996 | ||||||
SOFTWARE — 0.5% | ||||||||
Microsoft Corp. 0.88%, 9/27/2013 | 500,000 | 496,342 | ||||||
Oracle Corp. 4.95%, 4/15/2013 | 500,000 | 542,828 | ||||||
1,039,170 | ||||||||
SPECIALTY RETAIL — 0.8% | ||||||||
Best Buy Co, Inc. 6.75%, 7/15/2013 | 500,000 | 552,644 | ||||||
Home Depot, Inc. 5.25%, 12/16/2013 | 750,000 | 823,162 | ||||||
Lowe’s Cos., Inc. 5.60%, 9/15/2012 | 105,000 | 113,427 | ||||||
1,489,233 | ||||||||
TOBACCO — 1.1% | ||||||||
Altria Group, Inc. 8.50%, 11/10/2013 | 600,000 | 709,697 | ||||||
Philip Morris International, Inc. 4.88%, 5/16/2013 | 900,000 | 971,760 | ||||||
Reynolds American, Inc. 7.25%, 6/1/2012 | 255,000 | 273,977 | ||||||
UST LLC 6.63%, 7/15/2012 | 155,000 | 166,424 | ||||||
2,121,858 | ||||||||
WIRELESS TELECOMMUNICATION SERVICES — 6.4% | ||||||||
AT&T, Inc.: | ||||||||
4.95%, 1/15/2013 | 1,175,000 | 1,254,942 | ||||||
5.88%, 2/1/2012 | 385,000 | 404,742 | ||||||
BellSouth Corp. 4.75%, 11/15/2012 | 515,000 | 547,264 | ||||||
Cellco Partnership / Verizon Wireless Capital LLC: | ||||||||
5.25%, 2/1/2012 | 360,000 | 376,444 | ||||||
7.38%, 11/15/2013 | 1,000,000 | 1,158,560 | ||||||
CenturyLink, Inc. 7.88%, 8/15/2012 | 500,000 | 539,536 | ||||||
Deutsche Telekom International Finance BV 5.25%, 7/22/2013 | 1,000,000 | 1,083,336 | ||||||
New Cingular Wireless Services, Inc. 8.13%, 5/1/2012 | 1,220,000 | 1,333,113 | ||||||
Rogers Communications, Inc.: | ||||||||
7.25%, 12/15/2012 | 878,000 | 968,650 | ||||||
7.88%, 5/1/2012 | 310,000 | 337,067 | ||||||
Telecom Italia Capital SA, Series B 5.25%, 11/15/2013 | 750,000 | 781,431 | ||||||
Verizon Communications, Inc. 5.25%, 4/15/2013 | 529,000 | 572,251 | ||||||
Verizon Global Funding Corp.: | ||||||||
4.38%, 6/1/2013 | 500,000 | 532,181 | ||||||
7.38%, 9/1/2012 | 330,000 | 364,684 | ||||||
Verizon New York, Inc. Series A 6.88%, 4/1/2012 | 595,000 | 630,994 | ||||||
Verizon Virginia, Inc. 4.63%, 3/15/2013 | 500,000 | 524,879 | ||||||
Vodafone Group PLC 5.00%, 12/16/2013 | 500,000 | 544,290 | ||||||
Walgreen Co. 4.88%, 8/1/2013 | 500,000 | 541,974 | ||||||
12,496,338 | ||||||||
TOTAL CORPORATE BONDS & NOTES — | ||||||||
(Cost $192,753,318) | 193,998,995 | |||||||
See accompanying notes to financial statements.
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SPDR Barclays Capital Short Term Corporate Bond ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||
SHORT TERM INVESTMENT — 2.4% | ||||||||
MONEY MARKET FUND — 2.4% | ||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e)(f) (Cost $4,745,594) | 4,745,594 | $ | 4,745,594 | |||||
TOTAL INVESTMENTS — 101.2% (g) | ||||||||
(Cost $197,498,912) | 198,744,589 | |||||||
OTHER ASSETS & LIABILITIES — (1.2)% | (2,373,761 | ) | ||||||
NET ASSETS — 100.0% | $ | 196,370,828 | ||||||
(a) | Security purchased pursuant to Rule 144A of the Securities Act of 1933. These securities, which represent 0.6% of net assets as of December 31, 2010, are considered liquid and may be resold in transactions exempt from registration, normally to qualified institutional buyers. | |||||
(b) | Amount shown represents less than 0.05% of net assets. | |||||
(c) | Security is valued at fair value as determined in good faith by the Trust’s Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. Security value is determined based on Level 2 inputs. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | Value is determined based on Level 1 inputs. (Note 2) | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 2 inputs. (Note 2) |
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF ASSETS AND LIABILITIES
STATEMENTS OF ASSETS AND LIABILITIES
December 31, 2010 (Unaudited)
SPDR Barclays | SPDR Barclays | |||||||||||||||||||||||||||
SPDR Barclays | SPDR Barclays | SPDR Barclays | Capital | Capital | SPDR Barclays | |||||||||||||||||||||||
Capital | SPDR Barclays | Capital | Capital | Intermediate | Long Term | Capital | ||||||||||||||||||||||
1-3 Month | Capital | Intermediate | Long Term | Term Corporate | Corporate | Convertible | ||||||||||||||||||||||
T-Bill ETF | TIPS ETF | Term Treasury ETF | Treasury ETF | Bond ETF | Bond ETF | Securities ETF | ||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Investments in securities of unaffiliated issuers, at value* (Note 2) | $ | 1,013,342,995 | $ | 357,762,405 | $ | 203,978,729 | $ | 27,586,157 | $ | 139,331,740 | $ | 27,736,299 | $ | 527,021,524 | ||||||||||||||
Investments in securities of affiliated issuers, at value (Note 3) | 268,390 | 6,653,659 | 42,300,300 | 5,211,524 | 5,811,940 | 1,460,254 | 74,058,304 | |||||||||||||||||||||
Total Investments | 1,013,611,385 | 364,416,064 | 246,279,029 | 32,797,681 | 145,143,680 | 29,196,553 | 601,079,828 | |||||||||||||||||||||
Cash | — | — | — | — | — | — | 320,910 | |||||||||||||||||||||
Receivable for investments sold | 555,454,190 | — | 4,505,814 | 476,163 | — | 691,664 | — | |||||||||||||||||||||
Receivable for fund shares sold in-kind | — | — | — | — | — | — | 20,303,563 | |||||||||||||||||||||
Dividends receivable | — | — | — | — | — | — | 625,712 | |||||||||||||||||||||
Interest receivable — unaffiliated issuers | — | 2,746,927 | 1,285,420 | 344,378 | 1,715,668 | 421,436 | 1,593,572 | |||||||||||||||||||||
Interest receivable — affiliated issuers | 22,940 | 649 | 4,449 | 604 | 934 | 206 | 14,724 | |||||||||||||||||||||
TOTAL ASSETS | 1,569,088,515 | 367,163,640 | 252,074,712 | 33,618,826 | 146,860,282 | 30,309,859 | 623,938,309 | |||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||||
Payable upon return of securities loaned | — | 5,752,726 | 41,146,725 | 5,087,425 | 1,136,808 | 1,069,038 | 60,198,425 | |||||||||||||||||||||
Payable for investments purchased | 555,564,043 | — | 4,818,781 | 494,791 | 1,468,681 | — | 26,678,766 | |||||||||||||||||||||
Distributions payable | — | 763,427 | 791,125 | 93,196 | 1,099,169 | 807,633 | 4,650,988 | |||||||||||||||||||||
Accrued advisory fee (Note 3) | 113,042 | 57,024 | 26,336 | 3,427 | 18,755 | 3,926 | 163,267 | |||||||||||||||||||||
Accrued trustees’ fees and expenses (Note 3) | 6,869 | 1,574 | 996 | 87 | 391 | 162 | 1,448 | |||||||||||||||||||||
TOTAL LIABILITIES | 555,683,954 | 6,574,751 | 46,783,963 | 5,678,926 | 3,723,804 | 1,880,759 | 91,692,894 | |||||||||||||||||||||
NET ASSETS | $ | 1,013,404,561 | $ | 360,588,889 | $ | 205,290,749 | $ | 27,939,900 | $ | 143,136,478 | $ | 28,429,100 | $ | 532,245,415 | ||||||||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||||||||||||||
Paid in capital (Note 4) | $ | 1,013,287,694 | $ | 343,917,406 | $ | 201,224,000 | $ | 29,045,564 | $ | 140,188,373 | $ | 27,402,302 | $ | 484,284,938 | ||||||||||||||
Undistributed (distribution in excess of) net investment income | 51,238 | (25,221 | ) | (205,972 | ) | (39,034 | ) | (272,993 | ) | (33,880 | ) | (2,445,433 | ) | |||||||||||||||
Accumulated net realized gain (loss) on investments | 38,637 | (768,977 | ) | 230,229 | (210,381 | ) | 532,074 | 54,750 | 5,433,417 | |||||||||||||||||||
Net unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||
Investments | 26,992 | 17,465,681 | 4,042,492 | (856,249 | ) | 2,689,024 | 1,005,928 | 44,972,493 | ||||||||||||||||||||
NET ASSETS | $ | 1,013,404,561 | $ | 360,588,889 | $ | 205,290,749 | $ | 27,939,900 | $ | 143,136,478 | $ | 28,429,100 | $ | 532,245,415 | ||||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||||||||||
Net asset value per share | $ | 45.85 | $ | 53.03 | $ | 58.65 | $ | 55.88 | $ | 32.53 | $ | 35.54 | $ | 40.63 | ||||||||||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 22,100,461 | 6,800,225 | 3,500,168 | 500,000 | 4,400,072 | 800,000 | 13,100,000 | |||||||||||||||||||||
COST OF INVESTMENTS: | ||||||||||||||||||||||||||||
Unaffiliated issuers | $ | 1,013,316,003 | $ | 340,296,724 | $ | 199,936,237 | $ | 28,442,406 | $ | 136,642,716 | $ | 26,730,371 | $ | 482,049,031 | ||||||||||||||
Affiliated issuers | 268,390 | 6,653,659 | 42,300,300 | 5,211,524 | 5,811,940 | 1,460,254 | 74,058,304 | |||||||||||||||||||||
Total cost of investments | $ | 1,013,584,393 | $ | 346,950,383 | $ | 242,236,537 | $ | 33,653,930 | $ | 142,454,656 | $ | 28,190,625 | $ | 556,107,335 | ||||||||||||||
* Includes investments in securities on loan, at value | $ | — | $ | 5,657,713 | $ | 40,424,660 | $ | 5,049,299 | $ | 1,117,850 | $ | 1,055,941 | $ | 58,838,206 | ||||||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF ASSETS AND LIABILITIES (continued)
STATEMENTS OF ASSETS AND LIABILITIES (continued)
December 31, 2010 (Unaudited)
SPDR Nuveen | SPDR Nuveen | SPDR Nuveen | ||||||||||||||||||||||||||
SPDR Barclays | SPDR Nuveen | Barclays | Barclays | Barclays | ||||||||||||||||||||||||
Capital | SPDR Barclays | Barclays | Capital | Capital | Capital | SPDR Nuveen | ||||||||||||||||||||||
Mortgage | Capital | Capital | California | New York | Short Term | S&P VRDO | ||||||||||||||||||||||
Backed Bond ETF | Aggregate Bond ETF | Municipal Bond ETF | Municipal Bond ETF | Municipal Bond ETF | Municipal Bond ETF | Municipal Bond ETF | ||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Investments in securities of unaffiliated issuers, at value* (Note 2) | $ | 32,111,857 | $ | 226,024,653 | $ | 850,484,394 | $ | 65,210,920 | $ | 25,232,647 | $ | 1,293,463,992 | $ | 8,972,000 | ||||||||||||||
Investments in securities of affiliated issuers, at value (Note 3) | 32,597,032 | 113,293,075 | 2,481,197 | 175,352 | 624,476 | 3,355,554 | 30,828 | |||||||||||||||||||||
Total Investments | 64,708,889 | 339,317,728 | 852,965,591 | 65,386,272 | 25,857,123 | 1,296,819,546 | 9,002,828 | |||||||||||||||||||||
Receivable for investments sold | 3,345,314 | 1,259,311 | 15,198,395 | 2,158,113 | — | 12,108,063 | — | |||||||||||||||||||||
Interest receivable — unaffiliated issuers | 60,193 | 1,474,501 | 10,634,695 | 915,523 | 323,677 | 15,859,661 | 8,783 | |||||||||||||||||||||
Interest receivable — affiliated issuers | 5,348 | 15,194 | 202 | 16 | 31 | 257 | 14 | |||||||||||||||||||||
Receivable for when issued/ delayed securities | — | 15,961,446 | — | — | — | — | — | |||||||||||||||||||||
Due from Adviser | — | 10,823 | 55,759 | — | — | — | — | |||||||||||||||||||||
TOTAL ASSETS | 68,119,744 | 358,039,003 | 878,854,642 | 68,459,924 | 26,180,831 | 1,324,787,527 | 9,011,625 | |||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||||
Payable upon return of securities loaned | — | 45,119,436 | — | — | — | — | — | |||||||||||||||||||||
Payable for when issued/delayed securities | 34,946,438 | 86,111,299 | — | — | — | — | — | |||||||||||||||||||||
Payable for investments purchased | 270,510 | 591,837 | — | — | — | 6,367,284 | — | |||||||||||||||||||||
Payable for fund shares repurchased in-kind | — | — | 15,391,224 | 2,115,201 | — | 11,932,056 | — | |||||||||||||||||||||
Distributions payable | 700,822 | 3,778,129 | 7,853,566 | 752,164 | 205,671 | 5,623,586 | 7,724 | |||||||||||||||||||||
Deferred income for dollar rolls | 20,914 | 41,445 | — | — | — | — | — | |||||||||||||||||||||
Accrued advisory fee (Note 3) | 5,974 | 37,550 | 226,819 | 11,788 | 4,471 | 224,935 | 1,530 | |||||||||||||||||||||
Accrued trustees’ fees and expenses (Note 3) | 81 | 766 | 3,778 | 259 | 96 | 5,494 | 116 | |||||||||||||||||||||
TOTAL LIABILITIES | 35,944,739 | 135,680,462 | 23,475,387 | 2,879,412 | 210,238 | 24,153,355 | 9,370 | |||||||||||||||||||||
NET ASSETS | $ | 32,175,005 | $ | 222,358,541 | $ | 855,379,255 | $ | 65,580,512 | $ | 25,970,593 | $ | 1,300,634,172 | $ | 9,002,255 | ||||||||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||||||||||||||
Paid in capital (Note 4) | $ | 32,325,443 | $ | 217,480,529 | $ | 858,982,338 | $ | 68,159,848 | $ | 26,525,411 | $ | 1,294,772,534 | $ | 9,001,125 | ||||||||||||||
Undistributed (distribution in excess of) net investment income | (47,553 | ) | (436,917 | ) | (1,978,431 | ) | (173,662 | ) | (52,220 | ) | (1,230,492 | ) | 1,130 | |||||||||||||||
Accumulated net realized gain (loss) on investments | 65,835 | 607,972 | (83,909 | ) | 12,709 | (23,938 | ) | 212,356 | — | |||||||||||||||||||
Net unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||
Investments | (168,720 | ) | 4,706,957 | (1,540,743 | ) | (2,418,383 | ) | (478,660 | ) | 6,879,774 | — | |||||||||||||||||
NET ASSETS | $ | 32,175,005 | $ | 222,358,541 | $ | 855,379,255 | $ | 65,580,512 | $ | 25,970,593 | $ | 1,300,634,172 | $ | 9,002,255 | ||||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||||||||||
Net asset value per share | $ | 26.81 | $ | 55.59 | $ | 21.99 | $ | 21.15 | $ | 21.64 | $ | 23.86 | $ | 30.01 | ||||||||||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 1,200,000 | 4,000,132 | 38,902,072 | 3,100,128 | 1,200,010 | 54,502,164 | 300,000 | |||||||||||||||||||||
COST OF INVESTMENTS: | ||||||||||||||||||||||||||||
Unaffiliated issuers | $ | 32,280,577 | $ | 221,317,696 | $ | 852,025,137 | $ | 67,629,303 | $ | 25,711,307 | $ | 1,286,584,218 | $ | 8,972,000 | ||||||||||||||
Affiliated issuers | 32,597,032 | 113,293,075 | 2,481,197 | 175,352 | 624,476 | 3,355,554 | 30,828 | |||||||||||||||||||||
Total cost of investments | $ | 64,877,609 | $ | 334,610,771 | $ | 854,506,334 | $ | 67,804,655 | $ | 26,335,783 | $ | 1,289,939,772 | $ | 9,002,828 | ||||||||||||||
* Includes investments in securities on loan, at value | $ | — | $ | 44,343,540 | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF ASSETS AND LIABILITIES (continued)
STATEMENTS OF ASSETS AND LIABILITIES (continued)
December 31, 2010 (Unaudited)
SPDR Barclays | ||||||||||||||||||||||||||||
SPDR DB | Capital | SPDR Barclays | SPDR Barclays | |||||||||||||||||||||||||
SPDR Nuveen | International | Short Term | Capital | Capital | SPDR Barclays | SPDR Barclays | ||||||||||||||||||||||
Barclays | Government | International | International | International | Capital | Capital | ||||||||||||||||||||||
Capital Build | Inflation-Protected | Treasury | Treasury | Corporate | High Yield | Short Term Corporate | ||||||||||||||||||||||
America Bond ETF | Bond ETF | Bond ETF | Bond ETF | Bond ETF | Bond ETF | Bond ETF | ||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||
Investments in securities of unaffiliated issuers, at value* (Note 2) | $ | 33,026,321 | $ | 886,786,385 | $ | 150,519,449 | $ | 1,318,433,611 | $ | 6,270,425 | $ | 6,173,883,306 | $ | 193,998,995 | ||||||||||||||
Investments in securities of affiliated issuers, at value (Note 3) | 40,995 | 173,461 | 1,205,745 | 10,820,067 | 923 | 96,742,366 | 4,745,594 | |||||||||||||||||||||
Total Investments | 33,067,316 | 886,959,846 | 151,725,194 | 1,329,253,678 | 6,271,348 | 6,270,625,672 | 198,744,589 | |||||||||||||||||||||
Cash | — | — | — | — | — | 4,682,547 | — | |||||||||||||||||||||
Foreign currency, at value | — | 1,474,815 | 1,003,566 | 4,220,118 | 46,364 | — | — | |||||||||||||||||||||
Receivable for investments sold | — | 23,860,091 | 11,941,133 | — | — | 24,856,914 | — | |||||||||||||||||||||
Receivable for fund shares sold in-kind | — | — | — | — | — | 59,017,372 | — | |||||||||||||||||||||
Unrealized appreciation on forward currency contracts | — | — | 18,282 | 365,869 | 12,379 | — | — | |||||||||||||||||||||
Interest receivable — unaffiliated issuers | 473,654 | 6,588,461 | 1,976,499 | 17,533,853 | 172,505 | 121,868,502 | 2,298,809 | |||||||||||||||||||||
Interest receivable — affiliated issuers | 154 | 57 | 199 | 1,564 | — | 10,316 | 414 | |||||||||||||||||||||
TOTAL ASSETS | 33,541,124 | 918,883,270 | 166,664,873 | 1,351,375,082 | 6,502,596 | 6,481,061,323 | 201,043,812 | |||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||||
Payable for investments purchased | — | 9,889,585 | — | — | 1,075 | 19,934,882 | 4,110,755 | |||||||||||||||||||||
Unrealized depreciation on forward currency contracts | — | — | — | 54,365 | 12,747 | — | — | |||||||||||||||||||||
Distributions payable | 163,696 | 15,239,178 | — | 8,382,071 | 62,385 | 143,745,057 | 541,066 | |||||||||||||||||||||
Accrued advisory fee (Note 3) | 8,925 | 376,070 | 48,262 | 564,894 | 2,968 | 2,098,132 | 20,526 | |||||||||||||||||||||
Accrued trustees’ fees and expenses (Note 3) | 7 | 5,180 | 934 | 3,422 | 14 | 17,616 | 637 | |||||||||||||||||||||
TOTAL LIABILITIES | 172,628 | 25,510,013 | 49,196 | 9,004,752 | 79,189 | 165,795,687 | 4,672,984 | |||||||||||||||||||||
NET ASSETS | $ | 33,368,496 | $ | 893,373,257 | $ | 166,615,677 | $ | 1,342,370,330 | $ | 6,423,407 | $ | 6,315,265,636 | $ | 196,370,828 | ||||||||||||||
NET ASSETS CONSIST OF: | ||||||||||||||||||||||||||||
Paid in capital (Note 4) | $ | 34,841,135 | $ | 876,172,684 | $ | 166,195,512 | $ | 1,292,869,801 | $ | 6,008,400 | $ | 6,003,318,936 | $ | 195,192,000 | ||||||||||||||
Undistributed (distribution in excess of) net investment income | (55,573 | ) | (9,841,789 | ) | (3,337,978 | ) | (30,670,500 | ) | (38,697 | ) | (31,667,304 | ) | (167,162 | ) | ||||||||||||||
Accumulated net realized gain (loss) on investments and foreign currency transactions | (157,947 | ) | (16,148,365 | ) | 300,984 | (3,908,836 | ) | 52,813 | 20,080,265 | 100,313 | ||||||||||||||||||
Net unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||
Investments | (1,259,119 | ) | 43,057,380 | 3,293,413 | 83,468,484 | 392,231 | 323,533,739 | 1,245,677 | ||||||||||||||||||||
Foreign currency | — | 133,347 | 163,746 | 611,381 | 8,660 | — | — | |||||||||||||||||||||
NET ASSETS | $ | 33,368,496 | $ | 893,373,257 | $ | 166,615,677 | $ | 1,342,370,330 | $ | 6,423,407 | $ | 6,315,265,636 | $ | 196,370,828 | ||||||||||||||
NET ASSET VALUE PER SHARE | ||||||||||||||||||||||||||||
Net asset value per share | $ | 47.67 | $ | 58.01 | $ | 37.03 | $ | 58.62 | $ | 32.12 | $ | 39.44 | $ | 30.21 | ||||||||||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) | 700,000 | 15,400,483 | 4,500,000 | 22,900,019 | 200,000 | 160,123,812 | 6,500,000 | |||||||||||||||||||||
COST OF INVESTMENTS: | ||||||||||||||||||||||||||||
Unaffiliated issuers | $ | 34,285,440 | $ | 843,729,005 | $ | 147,226,036 | $ | 1,234,965,127 | $ | 5,878,194 | $ | 5,850,349,567 | $ | 192,753,318 | ||||||||||||||
Affiliated issuers | 40,995 | 173,461 | 1,205,745 | 10,820,067 | 923 | 96,742,366 | 4,745,594 | |||||||||||||||||||||
Total cost of investments | $ | 34,326,435 | $ | 843,902,466 | $ | 148,431,781 | $ | 1,245,785,194 | $ | 5,879,117 | $ | 5,947,091,933 | $ | 197,498,912 | ||||||||||||||
Foreign currency, at cost | $ | — | $ | 1,421,281 | $ | 976,871 | $ | 4,091,539 | $ | 40,935 | $ | — | $ | — | ||||||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS
For the Six Months Ended December 31, 2010 (Unaudited)
SPDR Barclays | ||||||||||||||||||||||||||||
SPDR Barclays | SPDR Barclays | Capital | SPDR Barclays | SPDR Barclays | ||||||||||||||||||||||||
SPDR Barclays | SPDR Barclays | Capital | Capital | Intermediate | Capital | Capital | ||||||||||||||||||||||
Capital 1-3 Month | Capital | Intermediate Term | Long Term | Term Corporate | Long Term Corporate | Convertible | ||||||||||||||||||||||
T-Bill ETF | TIPS ETF | Treasury ETF | Treasury ETF | Bond ETF | Bond ETF | Securities ETF | ||||||||||||||||||||||
INVESTMENT INCOME | ||||||||||||||||||||||||||||
Interest income on securities of unaffiliated issuers (Note 2) | $ | 765,098 | $ | 3,707,236 | $ | 2,616,656 | $ | 598,566 | $ | 2,476,518 | $ | 951,843 | $ | 3,856,076 | ||||||||||||||
Interest income on securities of affiliated issuers (Note 3) | 294 | 812 | 1,503 | 176 | 4,041 | 782 | 3,944 | |||||||||||||||||||||
Dividend income (Note 2) | — | — | — | — | — | — | 4,148,031 | |||||||||||||||||||||
Affiliated securities lending — net (Note 3 and Note 8) | 128,363 | 8,550 | 23,460 | 3,025 | 7,780 | 2,432 | 56,688 | |||||||||||||||||||||
TOTAL INVESTMENT INCOME | 893,755 | 3,716,598 | 2,641,619 | 601,767 | 2,488,339 | 955,057 | 8,064,739 | |||||||||||||||||||||
EXPENSES | ||||||||||||||||||||||||||||
Advisory fee (Note 3) | 734,320 | 348,935 | 166,212 | 21,385 | 104,579 | 25,829 | 761,162 | |||||||||||||||||||||
Trustees’ fees and expenses (Note 3) | 26,468 | 6,553 | 4,232 | 463 | 2,111 | 560 | 4,734 | |||||||||||||||||||||
Proxy expenses | 81,729 | 55,916 | 42,122 | 2,595 | 8,839 | 4,404 | 39,478 | |||||||||||||||||||||
Miscellaneous expenses | — | — | — | — | 397 | — | 193 | |||||||||||||||||||||
TOTAL EXPENSES | 842,517 | 411,404 | 212,566 | 24,443 | 115,926 | 30,793 | 805,567 | |||||||||||||||||||||
NET INVESTMENT INCOME (LOSS) | 51,238 | 3,305,194 | 2,429,053 | 577,324 | 2,372,413 | 924,264 | 7,259,172 | |||||||||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS | ||||||||||||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||||||||||||
Investments | 45,001 | 3,812,585 | 1,698,267 | 42,421 | 1,101,847 | 697,399 | 7,248,416 | |||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||
Investments | 63,107 | (816,132 | ) | (3,131,722 | ) | (2,374,924 | ) | (806,306 | ) | (961,058 | ) | 39,720,112 | ||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS | 108,108 | 2,996,453 | (1,433,455 | ) | (2,332,503 | ) | 295,541 | (263,659 | ) | 46,968,528 | ||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 159,346 | $ | 6,301,647 | $ | 995,598 | $ | (1,755,179 | ) | $ | 2,667,954 | $ | 660,605 | $ | 54,227,700 | |||||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF OPERATIONS (continued)
STATEMENTS OF OPERATIONS (continued)
For the Six Months Ended December 31, 2010 (Unaudited)
SPDR Nuveen | ||||||||||||||||||||||||||||
SPDR Barclays | SPDR Nuveen | SPDR Nuveen | Barclays | |||||||||||||||||||||||||
Capital | SPDR Barclays | SPDR Nuveen | Barclays | Barclays | Capital | SPDR Nuveen | ||||||||||||||||||||||
Mortgage | Capital | Barclays | Capital California | Capital New York | Short Term | S&P VRDO | ||||||||||||||||||||||
Backed Bond ETF | Aggregate Bond ETF | Capital Municipal Bond ETF | Municipal Bond ETF | Municipal Bond ETF | Municipal Bond ETF | Municipal Bond ETF | ||||||||||||||||||||||
INVESTMENT INCOME | ||||||||||||||||||||||||||||
Interest income on securities of unaffiliated issuers (Note 2) | $ | 259,402 | $ | 3,267,443 | $ | 16,931,050 | $ | 1,376,167 | $ | 454,434 | $ | 10,913,033 | $ | 56,269 | ||||||||||||||
Interest income on securities of affiliated issuers (Note 3) | 41,824 | 83,165 | 2,407 | 464 | 187 | 3,604 | 39 | |||||||||||||||||||||
Affiliated securities lending — net (Note 3 and Note 8) | — | 15,766 | — | — | — | — | — | |||||||||||||||||||||
TOTAL INVESTMENT INCOME | 301,226 | 3,366,374 | 16,933,457 | 1,376,631 | 454,621 | 10,916,637 | 56,308 | |||||||||||||||||||||
EXPENSES | ||||||||||||||||||||||||||||
Advisory fee (Note 3) | 36,231 | 213,560 | 1,465,244 | 72,359 | 26,991 | 1,319,712 | 11,744 | |||||||||||||||||||||
Trustees’ fees and expenses (Note 3) | 568 | 3,916 | 17,011 | 1,179 | 449 | 21,683 | 235 | |||||||||||||||||||||
Proxy expenses | 1,574 | 23,915 | — | — | — | — | — | |||||||||||||||||||||
Miscellaneous expenses | 1,012 | 557 | 505 | — | — | 243 | 301 | |||||||||||||||||||||
TOTAL EXPENSES | 39,385 | 241,948 | 1,482,760 | 73,538 | 27,440 | 1,341,638 | 12,280 | |||||||||||||||||||||
Expenses waived by Adviser (Note 3) | — | (62,348 | ) | (459,805 | ) | — | — | — | — | |||||||||||||||||||
NET INVESTMENT INCOME (LOSS) | 261,841 | 3,186,774 | 15,910,502 | 1,303,093 | 427,181 | 9,574,999 | 44,028 | |||||||||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS | ||||||||||||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||||||||||||
Investments | 494,889 | 2,991,912 | 5,735,101 | 471,564 | 299,592 | 4,555,999 | — | |||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||
Investments | (513,850 | ) | (4,043,054 | ) | (34,917,502 | ) | (4,291,473 | ) | (1,319,308 | ) | (11,481,636 | ) | — | |||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS | (18,961 | ) | (1,051,142 | ) | (29,182,401 | ) | (3,819,909 | ) | (1,019,716 | ) | (6,925,637 | ) | — | |||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 242,880 | $ | 2,135,632 | $ | (13,271,899 | ) | $ | (2,516,816 | ) | $ | (592,535 | ) | $ | 2,649,362 | $ | 44,028 | |||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF OPERATIONS (continued)
STATEMENTS OF OPERATIONS (continued)
For the Six Months Ended December 31, 2010 (Unaudited)
SPDR DB | SPDR Barclays | SPDR Barclays | SPDR Barclays | SPDR Barclays | ||||||||||||||||||||||||
SPDR Nuveen Barclays | International Government | Capital | Capital | Capital | SPDR Barclays | Capital | ||||||||||||||||||||||
Capital Build | Inflation-Protected | Short Term International | International | International | Capital | Short Term | ||||||||||||||||||||||
America Bond ETF | Bond ETF | Treasury Bond ETF | Treasury Bond ETF | Corporate Bond ETF | High Yield Bond ETF | Corporate Bond ETF | ||||||||||||||||||||||
INVESTMENT INCOME | ||||||||||||||||||||||||||||
Interest income on securities of unaffiliated issuers (Note 2) | $ | 606,403 | $ | 20,141,828 | $ | 1,282,042 | $ | 17,952,561 | $ | 99,462 | $ | 259,704,295 | $ | 1,867,117 | ||||||||||||||
Interest income on securities of affiliated issuers (Note 3) | 489 | 611 | 1,679 | 10,525 | 5 | 79,311 | 2,591 | |||||||||||||||||||||
Affiliated securities lending — net (Note 3 and Note 8) | — | 5,947 | — | — | — | — | — | |||||||||||||||||||||
Foreign taxes withheld | — | (24,649 | ) | (1,370 | ) | (97,667 | ) | — | — | — | ||||||||||||||||||
TOTAL INVESTMENT INCOME | 606,892 | 20,123,737 | 1,282,351 | 17,865,419 | 99,467 | 259,783,606 | 1,869,708 | |||||||||||||||||||||
EXPENSES | ||||||||||||||||||||||||||||
Advisory fee (Note 3) | 37,534 | 2,183,103 | 263,578 | 3,118,155 | 18,015 | 11,377,461 | 114,604 | |||||||||||||||||||||
Trustees’ fees and expenses (Note 3) | 239 | 13,797 | 2,194 | 19,254 | 113 | 82,346 | 2,971 | |||||||||||||||||||||
Proxy expenses | — | 142,571 | 21,094 | 198,201 | — | 464,660 | 2,623 | |||||||||||||||||||||
Miscellaneous expenses | — | 850 | 37 | 3,080 | — | 614 | 60 | |||||||||||||||||||||
TOTAL EXPENSES | 37,773 | 2,340,321 | 286,903 | 3,338,690 | 18,128 | 11,925,081 | 120,258 | |||||||||||||||||||||
NET INVESTMENT INCOME (LOSS) | 569,119 | 17,783,416 | 995,448 | 14,526,729 | 81,339 | 247,858,525 | 1,749,450 | |||||||||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS | ||||||||||||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||||||||||||
Investments | (157,946 | ) | (2,926,520 | ) | 382,540 | 8,235,710 | 41,976 | 125,672,687 | 509,311 | |||||||||||||||||||
Foreign currency transactions | — | (84,148 | ) | 186,679 | 1,470,245 | 11,105 | — | — | ||||||||||||||||||||
Forward foreign currency contracts | — | — | 2,040 | 929 | 926 | — | — | |||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||
Investments | (1,348,930 | ) | 88,406,104 | 11,243,239 | 70,506,561 | 431,840 | 196,008,995 | 1,334,185 | ||||||||||||||||||||
Foreign currency transactions | — | 800,493 | 256,530 | 1,649,445 | 7,128 | — | — | |||||||||||||||||||||
Forward foreign currency contracts | — | — | 19,445 | 231,839 | (4,650 | ) | — | — | ||||||||||||||||||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY TRANSACTIONS | (1,506,876 | ) | 86,195,929 | 12,090,473 | 82,094,729 | 488,325 | 321,681,682 | 1,843,496 | ||||||||||||||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | (937,757 | ) | $ | 103,979,345 | $ | 13,085,921 | $ | 96,621,458 | $ | 569,664 | $ | 569,540,207 | $ | 3,592,946 | |||||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF CHANGES IN NET ASSETS
STATEMENTS OF CHANGES IN NET ASSETS
SPDR Barclays Capital 1-3 Month | ||||||||||||||||||||||||||||||||||||||||
T-Bill ETF | SPDR Barclays Capital TIPS ETF | SPDR Barclays Capital Intermediate Term Treasury ETF | SPDR Barclays Capital Long Term Treasury ETF | SPDR Barclays Capital Intermediate Term Corporate Bond ETF | ||||||||||||||||||||||||||||||||||||
Six Months | Six Months | Six Months | Six Months | Six Months | ||||||||||||||||||||||||||||||||||||
Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | |||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | |||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | $ | 51,238 | $ | 3,299 | $ | 3,305,194 | $ | 11,909,759 | $ | 2,429,053 | $ | 4,105,448 | $ | 577,324 | $ | 743,478 | $ | 2,372,413 | $ | 2,606,926 | ||||||||||||||||||||
Net realized gain (loss) on investments | 45,001 | 103,743 | 3,812,585 | 2,023,380 | 1,698,267 | 125,427 | 42,421 | (16,204 | ) | 1,101,847 | 770,418 | |||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | 63,107 | (12,064 | ) | (816,132 | ) | 16,343,442 | (3,131,722 | ) | 7,262,005 | (2,374,924 | ) | 1,547,031 | (806,306 | ) | 2,960,354 | |||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 159,346 | 94,978 | 6,301,647 | 30,276,581 | 995,598 | 11,492,880 | (1,755,179 | ) | 2,274,305 | 2,667,954 | 6,337,698 | |||||||||||||||||||||||||||||
Net equalization credits and charges | (7,263 | ) | (63,624 | ) | (19,330 | ) | 45,199 | (44,274 | ) | 87,556 | 16,754 | 25,494 | 45,288 | 174,657 | ||||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||||||||||||||||||
Net investment income | — | (3,299 | ) | (4,318,294 | ) | (10,410,346 | ) | (2,791,280 | ) | (4,039,490 | ) | (667,250 | ) | (748,307 | ) | (2,789,132 | ) | (2,546,039 | ) | |||||||||||||||||||||
Net realized gains | — | (95,292 | ) | — | — | (427,780 | ) | (278,156 | ) | — | — | (670,571 | ) | (76,151 | ) | |||||||||||||||||||||||||
Return of capital | — | (124,216 | ) | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||
Total distributions to shareholders | — | (222,807 | ) | (4,318,294 | ) | (10,410,346 | ) | (3,219,060 | ) | (4,317,646 | ) | (667,250 | ) | (748,307 | ) | (3,459,703 | ) | (2,622,190 | ) | |||||||||||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of shares sold | 715,270,776 | 568,557,583 | 21,423,598 | 102,602,847 | 5,980,406 | 109,682,074 | 12,249,186 | 27,451,043 | 39,975,675 | 85,873,903 | ||||||||||||||||||||||||||||||
Proceeds from reinvestment of distributions | — | 138 | — | 8,906 | — | — | — | — | — | 2,274 | ||||||||||||||||||||||||||||||
Cost of shares redeemed | (756,557,371 | ) | (499,840,672 | ) | (42,566,902 | ) | (31,230,545 | ) | (41,168,757 | ) | (17,224,860 | ) | (5,547,421 | ) | (21,815,183 | ) | (9,793,988 | ) | (3,199,131 | ) | ||||||||||||||||||||
Net income equalization (Note 2) | 7,263 | 63,624 | 19,330 | (45,199 | ) | 44,274 | (87,556 | ) | (16,754 | ) | (25,494 | ) | (45,288 | ) | (174,657 | ) | ||||||||||||||||||||||||
Other capital (Note 4) | — | — | — | — | — | — | — | — | — | 4,764 | ||||||||||||||||||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | (41,279,332 | ) | 68,780,673 | (21,123,974 | ) | 71,336,009 | (35,144,077 | ) | 92,369,658 | 6,685,011 | 5,610,366 | 30,136,399 | 82,507,153 | |||||||||||||||||||||||||||
Net increase (decrease) in net assets during the period | (41,127,249 | ) | 68,589,220 | (19,159,951 | ) | 91,247,443 | (37,411,813 | ) | 99,632,448 | 4,279,336 | 7,161,858 | 29,389,938 | 86,397,318 | |||||||||||||||||||||||||||
Net assets at beginning of period | 1,054,531,810 | 985,942,590 | 379,748,840 | 288,501,397 | 242,702,562 | 143,070,114 | 23,660,564 | 16,498,706 | 113,746,540 | 27,349,222 | ||||||||||||||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 1,013,404,561 | $ | 1,054,531,810 | $ | 360,588,889 | $ | 379,748,840 | $ | 205,290,749 | $ | 242,702,562 | $ | 27,939,900 | $ | 23,660,564 | $ | 143,136,478 | $ | 113,746,540 | ||||||||||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||||||||||||||||||
Shares sold | 15,600,000 | 12,400,000 | 400,000 | 2,000,000 | 100,000 | 1,900,000 | 200,000 | 500,000 | 1,200,000 | 2,700,000 | ||||||||||||||||||||||||||||||
Shares issued to shareholders from reinvestment of distributions | — | 3 | — | 177 | — | — | — | — | — | 72 | ||||||||||||||||||||||||||||||
Shares redeemed | (16,500,000 | ) | (10,900,000 | ) | (800,000 | ) | (600,000 | ) | (700,000 | ) | (300,000 | ) | (100,000 | ) | (400,000 | ) | (300,000 | ) | (100,000 | ) | ||||||||||||||||||||
Net increase (decrease) | (900,000 | ) | 1,500,003 | (400,000 | ) | 1,400,177 | (600,000 | ) | 1,600,000 | 100,000 | 100,000 | 900,000 | 2,600,072 | |||||||||||||||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | 51,238 | $ | — | $ | (25,221 | ) | $ | 987,879 | $ | (205,972 | ) | $ | 156,255 | $ | (39,034 | ) | $ | 50,892 | $ | (272,993 | ) | $ | 143,726 | ||||||||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF CHANGES IN NET ASSETS (continued)
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR Barclays Capital Long Term | SPDR Barclays Capital Convertible | SPDR Barclays Capital Mortgage | SPDR Barclays Capital Aggregate | SPDR Nuveen Barclays Capital | ||||||||||||||||||||||||||||||||||||
Corporate Bond ETF | Securities ETF | Backed Bond ETF | Bond ETF | Municipal Bond ETF | ||||||||||||||||||||||||||||||||||||
Six Months | Six Months | Six Months | Six Months | Six Months | ||||||||||||||||||||||||||||||||||||
Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | |||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | |||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | $ | 924,264 | $ | 1,152,928 | $ | 7,259,172 | $ | 7,755,597 | $ | 261,841 | $ | 291,141 | $ | 3,186,774 | $ | 6,908,798 | $ | 15,910,502 | $ | 29,973,934 | ||||||||||||||||||||
Net realized gain (loss) on investments | 697,399 | 208,701 | 7,248,416 | 3,053,018 | 494,889 | 332,826 | 2,991,912 | 3,221,816 | 5,735,101 | 2,482,903 | ||||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | (961,058 | ) | 1,354,396 | 39,720,112 | 3,935,725 | (513,850 | ) | 345,423 | (4,043,054 | ) | 8,376,354 | (34,917,502 | ) | 28,631,186 | ||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 660,605 | 2,716,025 | 54,227,700 | 14,744,340 | 242,880 | 969,390 | 2,135,632 | 18,506,968 | (13,271,899 | ) | 61,088,023 | |||||||||||||||||||||||||||||
Net equalization credits and charges | (3,012 | ) | 32,230 | 380,251 | 251,785 | 17,644 | 29,906 | (4,057 | ) | 53,101 | (16,054 | ) | 538,830 | |||||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||||||||||||||||||
Net investment income | (1,079,020 | ) | (1,068,588 | ) | (11,205,636 | ) | (8,957,176 | ) | (328,040 | ) | (287,151 | ) | (3,801,681 | ) | (6,943,248 | ) | (19,435,496 | ) | (29,426,559 | ) | ||||||||||||||||||||
Net realized gains | (664,892 | ) | (55,772 | ) | (1,537,389 | ) | (681,002 | ) | (668,150 | ) | (122,529 | ) | (3,289,893 | ) | (3,548,974 | ) | (5,638,860 | ) | — | |||||||||||||||||||||
Total distributions to shareholders | (1,743,912 | ) | (1,124,360 | ) | (12,743,025 | ) | (9,638,178 | ) | (996,190 | ) | (409,680 | ) | (7,091,574 | ) | (10,492,222 | ) | (25,074,356 | ) | (29,426,559 | ) | ||||||||||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of shares sold | 3,803,498 | 24,656,058 | 231,100,116 | 253,944,147 | 16,493,766 | 21,507,416 | 39,916,649 | 27,877,493 | 50,942,678 | 336,556,819 | ||||||||||||||||||||||||||||||
Proceeds from reinvestment of distributions | — | — | — | — | — | — | — | 4,890 | — | 30,160 | ||||||||||||||||||||||||||||||
Cost of shares redeemed | (7,200,154 | ) | — | — | (43,844,160 | ) | (10,982,807 | ) | — | (33,643,931 | ) | (10,959,439 | ) | (109,477,191 | ) | — | ||||||||||||||||||||||||
Net income equalization (Note 2) | 3,012 | (32,230 | ) | (380,251 | ) | (251,785 | ) | (17,644 | ) | (29,906 | ) | 4,057 | (53,101 | ) | 16,054 | (538,830 | ) | |||||||||||||||||||||||
Other capital (Note 4) | — | — | 31,791 | 115,367 | 54,953 | 43,015 | 14,365 | — | — | 152,313 | ||||||||||||||||||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | (3,393,644 | ) | 24,623,828 | 230,751,656 | 209,963,569 | 5,548,268 | 21,520,525 | 6,291,140 | 16,869,843 | (58,518,459 | ) | 336,200,462 | ||||||||||||||||||||||||||||
Net increase (decrease) in net assets during the period | (4,479,963 | ) | 26,247,723 | 272,616,582 | 215,321,516 | 4,812,602 | 22,110,141 | 1,331,141 | 24,937,690 | (96,880,768 | ) | 368,400,756 | ||||||||||||||||||||||||||||
Net assets at beginning of period | 32,909,063 | 6,661,340 | 259,628,833 | 44,307,317 | 27,362,403 | 5,252,262 | 221,027,400 | 196,089,710 | 952,260,023 | 583,859,267 | ||||||||||||||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 28,429,100 | $ | 32,909,063 | $ | 532,245,415 | $ | 259,628,833 | $ | 32,175,005 | $ | 27,362,403 | $ | 222,358,541 | $ | 221,027,400 | $ | 855,379,255 | $ | 952,260,023 | ||||||||||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||||||||||||||||||
Shares sold | 100,000 | 700,000 | 5,900,000 | 7,000,000 | 600,000 | 800,000 | 700,000 | 500,000 | 2,200,000 | 14,900,000 | ||||||||||||||||||||||||||||||
Shares issued to shareholders from reinvestment of distributions | — | — | — | — | — | — | — | 88 | — | 1,341 | ||||||||||||||||||||||||||||||
Shares redeemed | (200,000 | ) | — | — | (1,200,000 | ) | (400,000 | ) | — | (600,000 | ) | (200,000 | ) | (4,800,000 | ) | — | ||||||||||||||||||||||||
Net increase (decrease) | (100,000 | ) | 700,000 | 5,900,000 | 5,800,000 | 200,000 | 800,000 | 100,000 | 300,088 | (2,600,000 | ) | 14,901,341 | ||||||||||||||||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | (33,880 | ) | $ | 120,876 | $ | (2,445,433 | ) | $ | 1,501,031 | $ | (47,553 | ) | $ | 18,646 | $ | (436,917 | ) | $ | 177,990 | $ | (1,978,431 | ) | $ | 1,546,563 | |||||||||||||||
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF CHANGES IN NET ASSETS (continued)
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR Nuveen Barclays Capital | SPDR Nuveen Barclays Capital New | SPDR Nuveen Barclays Capital Short | SPDR Nuveen S&P VRDO Municipal | SPDR Nuveen Barclays Capital Build | ||||||||||||||||||||||||||||||||||||
California Municipal Bond ETF | York Municipal Bond ETF | Term Municipal Bond ETF | Bond ETF | America Bond ETF | ||||||||||||||||||||||||||||||||||||
Six Months | Six Months | Six Months | Six Months | For the Period | Six Months | For the Period | ||||||||||||||||||||||||||||||||||
Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | 9/23/09*- | Ended 12/31/10 | 5/12/10*- | |||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | |||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | $ | 1,303,093 | $ | 2,467,341 | $ | 427,181 | $ | 791,042 | $ | 9,574,999 | $ | 15,753,170 | $ | 44,028 | $ | 28,397 | $ | 569,119 | $ | 67,679 | ||||||||||||||||||||
Net realized gain (loss) on investments | 471,564 | 140,122 | 299,592 | 26,824 | 4,555,999 | 734,268 | — | — | (157,946 | ) | 9,796 | |||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments | (4,291,473 | ) | 2,470,971 | (1,319,308 | ) | 942,771 | (11,481,636 | ) | 11,360,004 | — | — | (1,348,930 | ) | 89,811 | ||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | (2,516,816 | ) | 5,078,434 | (592,535 | ) | 1,760,637 | 2,649,362 | 27,847,442 | 44,028 | 28,397 | (937,757 | ) | 167,286 | |||||||||||||||||||||||||||
Net equalization credits and charges | 29,916 | 28,712 | 3,893 | 13,065 | 49,979 | 544,536 | (1,678 | ) | 552 | 51,453 | — | |||||||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||||||||||||||||||
Net investment income | (1,642,869 | ) | (2,400,827 | ) | (540,050 | ) | (773,962 | ) | (11,536,297 | ) | (15,418,078 | ) | (52,065 | ) | (19,230 | ) | (671,838 | ) | (20,533 | ) | ||||||||||||||||||||
Net realized gains | (547,910 | ) | — | (138,121 | ) | — | (4,028,193 | ) | — | — | — | (9,797 | ) | — | ||||||||||||||||||||||||||
Total distributions to shareholders | (2,190,779 | ) | (2,400,827 | ) | (678,171 | ) | (773,962 | ) | (15,564,490 | ) | (15,418,078 | ) | (52,065 | ) | (19,230 | ) | (681,635 | ) | (20,533 | ) | ||||||||||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of shares sold | 9,230,088 | 22,265,540 | 2,315,058 | 8,889,680 | 130,915,628 | 737,754,747 | — | 15,001,302 | 24,828,721 | 10,000,000 | ||||||||||||||||||||||||||||||
Proceeds from reinvestment of distributions | — | 2,612 | — | — | — | 42,234 | — | — | — | — | ||||||||||||||||||||||||||||||
Cost of shares redeemed | (4,279,856 | ) | — | — | — | (69,786,901 | ) | — | (6,003,177 | ) | — | — | — | |||||||||||||||||||||||||||
Net income equalization (Note 2) | (29,916 | ) | (28,712 | ) | (3,893 | ) | (13,065 | ) | (49,979 | ) | (544,536 | ) | 1,678 | (552 | ) | (51,453 | ) | — | ||||||||||||||||||||||
Other capital (Note 4) | 4,615 | 11,393 | — | 4,342 | 42,445 | 364,089 | — | 3,000 | 12,414 | — | ||||||||||||||||||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | 4,924,931 | 22,250,833 | 2,311,165 | 8,880,957 | 61,121,193 | 737,616,534 | (6,001,499 | ) | 15,003,750 | 24,789,682 | 10,000,000 | |||||||||||||||||||||||||||||
Net increase (decrease) in net assets during the period | 247,252 | 24,957,152 | 1,044,352 | 9,880,697 | 48,256,044 | 750,590,434 | (6,011,214 | ) | 15,013,469 | 23,221,743 | 10,146,753 | |||||||||||||||||||||||||||||
Net assets at beginning of period | 65,333,260 | 40,376,108 | 24,926,241 | 15,045,544 | 1,252,378,128 | 501,787,694 | 15,013,469 | — | 10,146,753 | — | ||||||||||||||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 65,580,512 | $ | 65,333,260 | $ | 25,970,593 | $ | 24,926,241 | $ | 1,300,634,172 | $ | 1,252,378,128 | $ | 9,002,255 | $ | 15,013,469 | $ | 33,368,496 | $ | 10,146,753 | ||||||||||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||||||||||||||||||
Shares sold | 400,000 | 1,000,000 | 100,000 | 400,000 | 5,400,000 | 30,800,000 | — | 500,000 | 500,000 | 200,000 | ||||||||||||||||||||||||||||||
Shares issued to shareholders from reinvestment of distributions | — | 117 | — | — | — | 1,771 | — | — | — | — | ||||||||||||||||||||||||||||||
Shares redeemed | (200,000 | ) | — | — | — | (2,900,000 | ) | — | (200,000 | ) | — | — | — | |||||||||||||||||||||||||||
Net increase (decrease) | 200,000 | 1,000,117 | 100,000 | 400,000 | 2,500,000 | 30,801,771 | (200,000 | ) | 500,000 | 500,000 | 200,000 | |||||||||||||||||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | (173,662 | ) | $ | 166,114 | $ | (52,220 | ) | $ | 60,649 | $ | (1,230,492 | ) | $ | 730,806 | $ | 1,130 | $ | 9,167 | $ | (55,573 | ) | $ | 47,146 | ||||||||||||||||
* | Commencement of operations |
See accompanying notes to financial statements.
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SPDR SERIES TRUST
STATEMENTS OF CHANGES IN NET ASSETS (continued)
STATEMENTS OF CHANGES IN NET ASSETS (continued)
SPDR DB International Government | SPDR Barclays Capital Short Term | SPDR Barclays Capital | SPDR Barclays Capital | SPDR Barclays Capital | SPDR Barclays Capital | |||||||||||||||||||||||||||||||||||||||||||
Inflation-Protected Bond ETF | International Treasury Bond ETF | International Treasury Bond ETF | International Corporate Bond ETF | High Yield Bond ETF | Short Term Corporate Bond ETF | |||||||||||||||||||||||||||||||||||||||||||
Six Months | Six Months | Six Months | Six Months | For the Period | Six Months | Six Months | For the Period | |||||||||||||||||||||||||||||||||||||||||
Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | Year Ended | Ended 12/31/10 | 5/19/10*- | Ended 12/31/10 | Year Ended | Ended 12/31/10 | 12/16/09*- | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | |||||||||||||||||||||||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | $ | 17,783,416 | $ | 38,076,431 | $ | 995,448 | $ | 1,328,244 | $ | 14,526,729 | $ | 33,322,966 | $ | 81,339 | $ | 14,828 | $ | 247,858,525 | $ | 363,229,613 | $ | 1,749,450 | $ | 911,920 | ||||||||||||||||||||||||
Net realized gain (loss) on investments and foreign currency transactions | (3,010,668 | ) | (25,880,435 | ) | 571,259 | (5,420,928 | ) | 9,706,884 | (36,032,386 | ) | 54,007 | 3,377 | 125,672,687 | 162,789,493 | 509,311 | 94,920 | ||||||||||||||||||||||||||||||||
Net change in unrealized appreciation (depreciation) on investments and foreign currency transactions | 89,206,597 | (39,405,741 | ) | 11,519,214 | (8,492,981 | ) | 72,387,845 | (5,435,181 | ) | 434,318 | (33,427 | ) | 196,008,995 | 43,410,245 | 1,334,185 | (88,508 | ) | |||||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations | 103,979,345 | (27,209,745 | ) | 13,085,921 | (12,585,665 | ) | 96,621,458 | (8,144,601 | ) | 569,664 | (15,222 | ) | 569,540,207 | 569,429,351 | 3,592,946 | 918,332 | ||||||||||||||||||||||||||||||||
Net equalization credits and charges | (1,470,520 | ) | 5,353,531 | 140,703 | 196,533 | 5,154,322 | (1,840,713 | ) | — | — | 5,929,236 | 12,051,924 | 13,620 | 128,626 | ||||||||||||||||||||||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (15,239,178 | ) | (14,678,113 | ) | — | (895,839 | ) | (8,382,071 | ) | (11,120,253 | ) | (138,400 | ) | — | (291,846,817 | ) | (361,521,034 | ) | (2,062,615 | ) | (765,917 | ) | ||||||||||||||||||||||||||
Net realized gains | — | — | — | (14,178 | ) | — | — | (1,035 | ) | — | (97,393,593 | ) | — | (214,565 | ) | — | ||||||||||||||||||||||||||||||||
Total distributions to shareholders | (15,239,178 | ) | (14,678,113 | ) | — | (910,017 | ) | (8,382,071 | ) | (11,120,253 | ) | (139,435 | ) | — | (389,240,410 | ) | (361,521,034 | ) | (2,277,180 | ) | (765,917 | ) | ||||||||||||||||||||||||||
FROM BENEFICIAL INTEREST TRANSACTIONS: | ||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of shares sold | 41,431,974 | 676,154,211 | 18,564,510 | 158,537,496 | 238,616,344 | 443,361,818 | — | 6,000,000 | 2,637,656,229 | 2,852,761,943 | 60,353,545 | 173,558,455 | ||||||||||||||||||||||||||||||||||||
Proceeds from reinvestment of distributions | — | — | — | — | — | — | — | — | — | 624,635 | — | — | ||||||||||||||||||||||||||||||||||||
Cost of shares redeemed | (87,687,234 | ) | (180,818,380 | ) | — | (20,911,640 | ) | (23,062,929 | ) | (477,707,073 | ) | — | — | (804,800,740 | ) | (660,797,330 | ) | (27,210,166 | ) | (11,978,843 | ) | |||||||||||||||||||||||||||
Net income equalization (Note 2) | 1,470,520 | (5,353,531 | ) | (140,703 | ) | (196,533 | ) | (5,154,322 | ) | 1,840,713 | — | — | (5,929,236 | ) | (12,051,924 | ) | (13,620 | ) | (128,626 | ) | ||||||||||||||||||||||||||||
Other capital (Note 4) | 387,358 | 2,570,918 | 37,129 | 283,623 | 654,198 | 2,302,672 | — | 8,400 | 858,677 | 44,960 | 13,568 | 166,088 | ||||||||||||||||||||||||||||||||||||
Net increase (decrease) in net assets from beneficial interest transactions | (44,397,382 | ) | 492,553,218 | 18,460,936 | 137,712,946 | 211,053,291 | (30,201,870 | ) | — | 6,008,400 | 1,827,784,930 | 2,180,582,284 | 33,143,327 | 161,617,074 | ||||||||||||||||||||||||||||||||||
Net increase (decrease) in net assets during the period | 42,872,265 | 456,018,891 | 31,687,560 | 124,413,797 | 304,447,000 | (51,307,437 | ) | 430,229 | 5,993,178 | 2,014,013,963 | 2,400,542,525 | 34,472,713 | 161,898,115 | |||||||||||||||||||||||||||||||||||
Net assets at beginning of period | 850,500,992 | 394,482,101 | 134,928,117 | 10,514,320 | 1,037,923,330 | 1,089,230,767 | 5,993,178 | — | 4,301,251,673 | 1,900,709,148 | 161,898,115 | — | ||||||||||||||||||||||||||||||||||||
NET ASSETS END OF PERIOD (1) | $ | 893,373,257 | $ | 850,500,992 | $ | 166,615,677 | $ | 134,928,117 | $ | 1,342,370,330 | $ | 1,037,923,330 | $ | 6,423,407 | $ | 5,993,178 | $ | 6,315,265,636 | $ | 4,301,251,673 | $ | 196,370,828 | $ | 161,898,115 | ||||||||||||||||||||||||
SHARES OF BENEFICIAL INTEREST: | ||||||||||||||||||||||||||||||||||||||||||||||||
Shares sold | 700,000 | 12,100,000 | 500,000 | 4,300,000 | 4,000,000 | 7,800,000 | — | 200,000 | 67,000,000 | 75,200,000 | 2,000,000 | 5,800,000 | ||||||||||||||||||||||||||||||||||||
Shares issued to shareholders from reinvestment of distributions | — | — | — | — | — | — | — | — | — | 17,314 | — | — | ||||||||||||||||||||||||||||||||||||
Shares redeemed | (1,600,000 | ) | (3,400,000 | ) | — | (600,000 | ) | (400,000 | ) | (8,600,000 | ) | — | — | (20,100,000 | ) | (17,400,000 | ) | (900,000 | ) | (400,000 | ) | |||||||||||||||||||||||||||
Net increase (decrease) | (900,000 | ) | 8,700,000 | 500,000 | 3,700,000 | 3,600,000 | (800,000 | ) | — | 200,000 | 46,900,000 | 57,817,314 | 1,100,000 | 5,400,000 | ||||||||||||||||||||||||||||||||||
(1) Including undistributed (distribution in excess of) net investment income | $ | (9,841,789 | ) | $ | (12,386,027 | ) | $ | (3,337,978 | ) | $ | (4,333,426 | ) | $ | (30,670,500 | ) | $ | (36,815,158 | ) | $ | (38,697 | ) | $ | 18,364 | $ | (31,667,304 | ) | $ | 12,320,988 | $ | (167,162 | ) | $ | 146,003 | |||||||||||||||
* | Commencement of operations |
See accompanying notes to financial statements.
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR Barclays Capital 1-3 Month T-Bill ETF | SPDR Barclays Capital TIPS ETF | SPDR Barclays Capital Intermediate Term Treasury ETF | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended | For the Period | Six Months Ended | For the Period | Six Months Ended | For the Period | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/10 | Year Ended | Year Ended | Year Ended | 5/25/07*- | 12/31/10 | Year Ended | Year Ended | Year Ended | 5/25/07*- | 12/31/10 | Year Ended | Year Ended | Year Ended | 5/23/07*- | ||||||||||||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | ||||||||||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 45.85 | $ | 45.86 | $ | 45.88 | $ | 45.96 | $ | 45.74 | $ | 52.74 | $ | 49.74 | $ | 52.00 | $ | 47.88 | $ | 48.01 | $ | 59.19 | $ | 57.22 | $ | 55.32 | $ | 52.56 | $ | 52.57 | ||||||||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | 0.00 | (1) (2) | 0.00 | (1) (2) | 0.23 | (2) | 1.32 | 0.20 | 0.47 | (2) | 1.78 | (2) | 0.54 | (2) | 2.86 | 0.41 | 0.59 | (2) | 1.19 | (2) | 1.43 | (2) | 2.06 | 0.22 | ||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (3) | 0.00 | (1) | 0.00 | (1) | 0.11 | 0.03 | 0.02 | 0.44 | 2.78 | (1.19 | ) | 4.24 | (0.57 | ) | (0.31 | ) | 2.02 | 1.92 | 2.81 | (0.23 | ) | |||||||||||||||||||||||||||||||||||||||
Total from investment operations | 0.00 | (1) | 0.00 | (1) | 0.34 | 1.35 | 0.22 | 0.91 | 4.56 | (0.65 | ) | 7.10 | (0.16 | ) | 0.28 | 3.21 | 3.35 | 4.87 | (0.01 | ) | ||||||||||||||||||||||||||||||||||||||||
Net equalization credits and charges (2) | 0.00 | (1) | 0.00 | (1) | 0.02 | 0.09 | — | (0.00 | )(1) | 0.01 | 0.07 | (0.12 | ) | 0.03 | (0.01 | ) | 0.03 | 0.06 | 0.17 | — | ||||||||||||||||||||||||||||||||||||||||
Other Capital (2) | — | — | — | — | — | — | — | 0.00 | (1) | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | — | (0.00 | )(1) | (0.37 | ) | (1.52 | ) | — | (0.62 | ) | (1.57 | ) | (1.68 | ) | (2.86 | ) | — | (0.69 | ) | (1.19 | ) | (1.51 | ) | (2.24 | ) | — | ||||||||||||||||||||||||||||||||||
Net realized gains | — | (0.00 | )(1) | (0.01 | ) | — | — | — | — | — | — | — | (0.12 | ) | (0.08 | ) | — | (0.04 | ) | — | ||||||||||||||||||||||||||||||||||||||||
Return of capital | — | (0.01 | ) | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Total distributions | — | (0.01 | ) | (0.38 | ) | (1.52 | ) | — | (0.62 | ) | (1.57 | ) | (1.68 | ) | (2.86 | ) | — | (0.81 | ) | (1.27 | ) | (1.51 | ) | (2.28 | ) | — | ||||||||||||||||||||||||||||||||||
Net asset value, end of period | $ | 45.85 | $ | 45.85 | $ | 45.86 | $ | 45.88 | $ | 45.96 | $ | 53.03 | $ | 52.74 | $ | 49.74 | $ | 52.00 | $ | 47.88 | $ | 58.65 | $ | 59.19 | $ | 57.22 | $ | 55.32 | $ | 52.56 | ||||||||||||||||||||||||||||||
Total return (4) | 0.01 | % | 0.00 | %(5) | 0.79 | % | 3.18 | % | 0.48 | % | 1.72 | % | 9.33 | % | (1.11 | )% | 14.96 | % | (0.27 | )% | 0.46 | % | 5.73 | % | 6.20 | % | 9.73 | % | (0.02 | )% | ||||||||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 1,013,405 | $ | 1,054,532 | $ | 985,943 | $ | 284,435 | $ | 36,766 | $ | 360,589 | $ | 379,749 | $ | 288,501 | $ | 93,602 | $ | 57,457 | $ | 205,291 | $ | 242,703 | $ | 143,070 | $ | 44,261 | $ | 10,513 | ||||||||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.15 | %(6) | 0.14 | % | 0.14 | % | 0.14 | % | 0.14 | %(6) | 0.20 | %(6) | 0.19 | % | 0.19 | % | 0.19 | % | 0.19 | %(6) | 0.16 | %(6) | 0.14 | % | 0.14 | % | 0.14 | % | 0.14 | %(6) | ||||||||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 0.01 | %(6) | 0.00 | %(5) | 0.49 | % | 2.72 | % | 4.49 | %(6) | 1.75 | %(6) | 3.48 | % | 1.11 | % | 6.49 | % | 10.23 | %(6) | 1.97 | %(6) | 2.06 | % | 2.50 | % | 3.51 | % | 4.13 | %(6) | ||||||||||||||||||||||||||||||
Portfolio turnover rate (7) | 311 | % | 623 | % | 692 | % | 583 | % | 2 | % | 9 | % | 18 | % | 21 | % | 16 | % | — | %(5) | 16 | % | 39 | % | 49 | % | 36 | % | 7 | % |
* | Commencement of operations | |
(1) | Amount is less than $0.005 per share. | |
(2) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(3) | 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. | |
(4) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | Amount is less than 0.005%. | |
(6) | Annualized. | |
(7) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR Barclays Capital | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intermediate Term | SPDR Barclays Capital | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SPDR Barclays Capital Long Term Treasury ETF | Corporate Bond ETF | Long Term Corporate Bond ETF | SPDR Barclays Capital Convertible Securities ETF | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended | For the Period | Six Months Ended | For the Period | Six Months Ended | For the Period | Six Months Ended | For the Period | |||||||||||||||||||||||||||||||||||||||||||||||||||||
12/31/10 | Year Ended | Year Ended | Year Ended | 5/23/07*- | 12/31/10 | Year Ended | 2/10/09*- | 12/31/10 | Year Ended | 3/10/09*- | 12/31/10 | Year Ended | 4/14/09*- | |||||||||||||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | (Unaudited) | 6/30/10 | 6/30/09 | (Unaudited) | 6/30/10 | 6/30/09 | (Unaudited) | 6/30/10 | 6/30/09 | |||||||||||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 59.15 | $ | 55.00 | $ | 53.39 | $ | 49.67 | $ | 50.12 | $ | 32.50 | $ | 30.39 | $ | 30.00 | $ | 36.57 | $ | 33.31 | $ | 30.00 | $ | 36.06 | $ | 31.65 | $ | 30.00 | ||||||||||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | 1.08 | (1) | 2.20 | (1) | 2.36 | (1) | 2.47 | 0.22 | 0.57 | (1) | 1.31 | (1) | 0.59 | (1) | 1.01 | (1) | 2.07 | (1) | 0.65 | (1) | 0.75 | (1) | 1.43 | (1) | 0.35 | (1) | ||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | (3.11 | ) | 4.06 | 1.64 | 3.72 | (0.67 | ) | 0.28 | 2.13 | 0.20 | (0.03 | ) | 3.30 | 3.13 | 5.03 | 4.78 | 1.42 | |||||||||||||||||||||||||||||||||||||||||||
Total from investment operations | (2.03 | ) | 6.26 | 4.00 | 6.19 | (0.45 | ) | 0.85 | 3.44 | 0.79 | 0.98 | 5.37 | 3.78 | 5.78 | 6.21 | 1.77 | ||||||||||||||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | 0.03 | 0.08 | 0.01 | (0.01 | ) | — | 0.01 | 0.09 | 0.05 | (0.00 | )(3) | 0.06 | — | 0.04 | 0.05 | 0.05 | ||||||||||||||||||||||||||||||||||||||||||||
Other Capital (1) | — | — | — | — | — | — | 0.00 | (3) | — | — | — | — | 0.00 | (3) | 0.02 | 0.05 | ||||||||||||||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (1.27 | ) | (2.19 | ) | (2.40 | ) | (2.45 | ) | — | (0.68 | ) | (1.38 | ) | (0.45 | ) | (1.18 | ) | (2.09 | ) | (0.47 | ) | (1.13 | ) | (1.76 | ) | (0.22 | ) | |||||||||||||||||||||||||||||||||
Net realized gains | — | — | — | (0.01 | ) | — | (0.15 | ) | (0.04 | ) | — | (0.83 | ) | (0.08 | ) | — | (0.12 | ) | (0.11 | ) | — | |||||||||||||||||||||||||||||||||||||||
Total distributions | (1.27 | ) | (2.19 | ) | (2.40 | ) | (2.46 | ) | — | (0.83 | ) | (1.42 | ) | (0.45 | ) | (2.01 | ) | (2.17 | ) | (0.47 | ) | (1.25 | ) | (1.87 | ) | (0.22 | ) | |||||||||||||||||||||||||||||||||
Net asset value, end of period | $ | 55.88 | $ | 59.15 | $ | 55.00 | $ | 53.39 | $ | 49.67 | $ | 32.53 | $ | 32.50 | $ | 30.39 | $ | 35.54 | $ | 36.57 | $ | 33.31 | $ | 40.63 | $ | 36.06 | $ | 31.65 | ||||||||||||||||||||||||||||||||
Total return (4) | (3.44 | )% | 11.93 | % | 7.51 | % | 12.62 | % | (0.90 | )% | 2.64 | % | 11.85 | % | 2.86 | % | 2.73 | % | 16.76 | % | 12.70 | % | 16.31 | % | 19.92 | % | 6.24 | % | ||||||||||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 27,940 | $ | 23,661 | $ | 16,499 | $ | 10,678 | $ | 9,934 | $ | 143,136 | $ | 113,747 | $ | 27,349 | $ | 28,429 | $ | 32,909 | $ | 6,661 | $ | 532,245 | $ | 259,629 | $ | 44,307 | ||||||||||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.15 | %(5) | 0.14 | % | 0.14 | % | 0.14 | % | 0.14 | %(5) | 0.16 | %(5) | 0.15 | % | 0.15 | %(5) | 0.17 | %(5) | 0.15 | % | 0.15 | %(5) | 0.41 | %(5) | 0.40 | % | 0.40 | %(5) | ||||||||||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 3.63 | %(5) | 4.01 | % | 4.14 | % | 4.58 | % | 4.29 | %(5) | 3.40 | %(5) | 4.13 | % | 5.22 | %(5) | 5.37 | %(5) | 5.85 | % | 6.82 | %(5) | 3.81 | %(5) | 3.85 | % | 5.33 | %(5) | ||||||||||||||||||||||||||||||||
Portfolio turnover rate (6) | 13 | % | 54 | % | 17 | % | 11 | % | 4 | % | 40 | % | 42 | % | 4 | % | 42 | % | 42 | % | 27 | % | 17 | % | 26 | % | 9 | % |
* | Commencement of operations | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | 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. | |
(3) | Amount is less than $0.005 per share. | |
(4) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | Annualized. | |
(6) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR Barclays Capital Mortgage Backed Bond ETF | SPDR Barclays Capital Aggregate Bond ETF | SPDR Nuveen Barclays Capital Municipal Bond ETF | ||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended | For the Period | Six Months Ended | For the Period | Six Months Ended | For the Period | |||||||||||||||||||||||||||||||||||||||||||||||
12/31/10 | Year Ended | 1/15/09*- | 12/31/10 | Year Ended | Year Ended | Year Ended | 5/23/07*- | 12/31/10 | Year Ended | Year Ended | 9/11/07*- | |||||||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | 6/30/09 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | 6/30/07 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | |||||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 27.36 | $ | 26.26 | $ | 26.05 | $ | 56.67 | $ | 54.47 | $ | 53.13 | $ | 52.09 | $ | 52.36 | $ | 22.94 | $ | 21.95 | $ | 21.73 | $ | 22.16 | ||||||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | 0.20 | (1) | 0.68 | (1) | 0.25 | (1) | 0.79 | (1) | 1.85 | (1) | 2.13 | (1) | 2.44 | 0.24 | 0.38 | (1) | 0.85 | (1) | 0.86 | (1) | 0.64 | |||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 0.02 | 1.29 | 0.14 | (0.10 | ) | 3.13 | 1.41 | 0.91 | (0.51 | ) | (0.72 | ) | 0.97 | 0.18 | (0.53 | ) | ||||||||||||||||||||||||||||||||||||
Total from investment operations | 0.22 | 1.97 | 0.39 | 0.69 | 4.98 | 3.54 | 3.35 | (0.27 | ) | (0.34 | ) | 1.82 | 1.04 | 0.11 | ||||||||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | 0.01 | 0.07 | — | (0.00 | )(3) | 0.01 | 0.03 | 0.31 | — | (0.00 | )(3) | 0.02 | 0.03 | 0.05 | ||||||||||||||||||||||||||||||||||||||
Other Capital (1) | 0.04 | 0.10 | — | 0.00 | (3) | — | 0.01 | — | — | — | — | 0.00 | (3) | 0.00 | (3) | |||||||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.26 | ) | (0.73 | ) | (0.18 | ) | (0.95 | ) | (1.86 | ) | (2.18 | ) | (2.62 | ) | — | (0.47 | ) | (0.85 | ) | (0.85 | ) | (0.59 | ) | |||||||||||||||||||||||||||||
Net realized gains | (0.56 | ) | (0.31 | ) | — | (0.82 | ) | (0.93 | ) | (0.06 | ) | — | — | (0.14 | ) | — | — | — | ||||||||||||||||||||||||||||||||||
Total distributions | (0.82 | ) | (1.04 | ) | (0.18 | ) | (1.77 | ) | (2.79 | ) | (2.24 | ) | (2.62 | ) | — | (0.61 | ) | (0.85 | ) | (0.85 | ) | (0.59 | ) | |||||||||||||||||||||||||||||
Net asset value, end of period | $ | 26.81 | $ | 27.36 | $ | 26.26 | $ | 55.59 | $ | 56.67 | $ | 54.47 | $ | 53.13 | $ | 52.09 | $ | 21.99 | $ | 22.94 | $ | 21.95 | $ | 21.73 | ||||||||||||||||||||||||||||
Total return (4) | 0.97 | % | 8.31 | % | 1.51 | % | 1.23 | % | 9.36 | % | 6.90 | % | 7.13 | % | (0.52 | )% | (1.55 | )% | 8.50 | % | 5.07 | % | 0.73 | % | ||||||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 32,175 | $ | 27,362 | $ | 5,252 | $ | 222,359 | $ | 221,027 | $ | 196,090 | $ | 116,880 | $ | 10,419 | $ | 855,379 | $ | 952,260 | $ | 583,859 | $ | 256,404 | ||||||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.21 | %(5) | 0.21 | % | 0.20 | %(5) | 0.14 | %(5) | 0.13 | % | 0.13 | % | 0.13 | % | 0.13 | %(5) | 0.21 | %(5) | 0.20 | % | 0.20 | % | 0.20 | %(5) | ||||||||||||||||||||||||||||
Ratio of expenses to average net assets before waivers | — | % | — | % | — | % | 0.21 | %(5) | 0.19 | % | 0.19 | % | 0.19 | % | 0.19 | %(5) | 0.30 | %(5) | 0.30 | % | 0.30 | % | 0.30 | %(5) | ||||||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 1.45 | %(5) | 2.55 | % | 2.14 | %(5) | 2.75 | %(5) | 3.33 | % | 3.98 | % | 4.13 | % | 4.42 | %(5) | 3.26 | %(5) | 3.75 | % | 3.96 | % | 3.79 | %(5) | ||||||||||||||||||||||||||||
Portfolio turnover rate (6) | 731 | % | 897 | % | 619 | % | 171 | % | 376 | % | 475 | % | 151 | % | 17 | % | 7 | % | 9 | % | 3 | % | 0 | % |
* | Commencement of operations | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | 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. | |
(3) | Amount is less than $0.005 per share. | |
(4) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | Annualized. | |
(6) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR Nuveen Barclays Capital California Municipal Bond ETF | SPDR Nuveen Barclays Capital New York Municipal Bond ETF | SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF | ||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended | For the Period | Six Months Ended | For the Period | Six Months Ended | For the Period | |||||||||||||||||||||||||||||||||||||||||||
12/31/10 | Year Ended | Year Ended | 10/10/07*- | 12/31/10 | Year Ended | Year Ended | 10/11/07*- | 12/31/10 | Year Ended | Year Ended | 10/10/07*- | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 22.53 | $ | 21.25 | $ | 21.74 | $ | 22.18 | $ | 22.66 | $ | 21.49 | $ | 21.64 | $ | 21.96 | $ | 24.08 | $ | 23.67 | $ | 22.82 | $ | 22.53 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | 0.41 | (1) | 0.96 | (1) | 0.92 | (1) | 0.62 | 0.36 | (1) | 0.88 | (1) | 0.87 | (1) | 0.63 | 0.18 | (1) | 0.42 | (1) | 0.55 | (1) | 0.45 | |||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | (1.11 | ) | 1.27 | (0.52 | ) | (0.52 | ) | (0.80 | ) | 1.16 | (0.16 | ) | (0.39 | ) | (0.12 | ) | 0.41 | 0.83 | 0.19 | |||||||||||||||||||||||||||||
Total from investment operations | (0.70 | ) | 2.23 | 0.40 | 0.10 | (0.44 | ) | 2.04 | 0.71 | 0.24 | 0.06 | 0.83 | 1.38 | 0.64 | ||||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | 0.01 | 0.01 | 0.02 | 0.02 | 0.00 | (3) | 0.01 | 0.01 | — | 0.00 | (3) | 0.01 | 0.03 | 0.06 | ||||||||||||||||||||||||||||||||||
Other Capital (1) | 0.00 | (3) | 0.00 | (3) | 0.00 | (3) | 0.00 | (3) | — | 0.00 | (3) | 0.00 | (3) | — | 0.00 | (3) | 0.01 | 0.01 | 0.01 | |||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.52 | ) | (0.96 | ) | (0.91 | ) | (0.56 | ) | (0.46 | ) | (0.88 | ) | (0.87 | ) | (0.56 | ) | (0.21 | ) | (0.44 | ) | (0.57 | ) | (0.42 | ) | ||||||||||||||||||||||||
Net realized gains | (0.17 | ) | — | — | — | (0.12 | ) | — | — | — | (0.07 | ) | — | — | — | |||||||||||||||||||||||||||||||||
Total distributions | (0.69 | ) | (0.96 | ) | (0.91 | ) | (0.56 | ) | (0.58 | ) | (0.88 | ) | (0.87 | ) | (0.56 | ) | (0.28 | ) | (0.44 | ) | (0.57 | ) | (0.42 | ) | ||||||||||||||||||||||||
Net asset value, end of period | $ | 21.15 | $ | 22.53 | $ | 21.25 | $ | 21.74 | $ | 21.64 | $ | 22.66 | $ | 21.49 | $ | 21.64 | $ | 23.86 | $ | 24.08 | $ | 23.67 | $ | 22.82 | ||||||||||||||||||||||||
Total return (4) | (3.16 | )% | 10.67 | % | 2.02 | % | 0.54 | % | (2.02 | )% | 9.66 | % | 3.49 | % | 1.08 | % | 0.27 | % | 3.60 | % | 6.29 | % | 3.16 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 65,581 | $ | 65,333 | $ | 40,376 | $ | 17,392 | $ | 25,971 | $ | 24,926 | $ | 15,046 | $ | 12,986 | $ | 1,300,634 | $ | 1,252,378 | $ | 501,788 | $ | 123,225 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.20 | %(5) | 0.20 | % | 0.20 | % | 0.20 | %(5) | 0.20 | %(5) | 0.20 | % | 0.20 | % | 0.20 | %(5) | 0.20 | %(5) | 0.20 | % | 0.20 | % | 0.20 | %(5) | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 3.60 | %(5) | 4.32 | % | 4.33 | % | 4.04 | %(5) | 3.17 | %(5) | 3.92 | % | 4.11 | % | 4.02 | %(5) | 1.45 | %(5) | 1.77 | % | 2.35 | % | 2.66 | %(5) | ||||||||||||||||||||||||
Portfolio turnover rate (6) | 21 | % | 12 | % | 24 | % | 17 | % | 29 | % | 9 | % | 33 | % | 32 | % | 13 | % | 14 | % | 4 | % | 2 | % |
* | Commencement of operations | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | 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. | |
(3) | Amount is less than $0.005 per share. | |
(4) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | Annualized. | |
(6) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR Nuveen S&P VRDO Municipal | SPDR Nuveen Barclays Capital Build | SPDR DB International Government Inflation-Protected | SPDR Barclays Capital Short Term International Treasury | |||||||||||||||||||||||||||||||||||||||||
Bond ETF | America Bond ETF | Bond ETF | Bond ETF | |||||||||||||||||||||||||||||||||||||||||
Six Months Ended | For the Period | Six Months Ended | For the Period | Six Months Ended | For the Period | Six Months Ended | For the Period | |||||||||||||||||||||||||||||||||||||
12/31/10 | 9/23/09*- | 12/31/10 | 5/12/10*- | 12/31/10 | Year Ended | Year Ended | 3/13/08*- | 12/31/10 | Year Ended | 1/15/09*- | ||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | (Unaudited) | 6/30/10 | 6/30/09 | ||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 30.03 | $ | 30.00 | $ | 50.73 | $ | 50.00 | $ | 52.18 | $ | 51.90 | $ | 60.71 | $ | 61.85 | $ | 33.73 | $ | 35.05 | $ | 33.05 | ||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | 0.11 | (1) | 0.06 | (1) | 1.33 | (1) | 0.34 | (1) | 1.17 | (1) | 2.52 | (1) | 2.08 | (1) | 0.73 | 0.24 | (1) | 0.46 | (1) | 0.21 | (1) | |||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 0.01 | — | (2.95 | ) | 0.49 | 5.72 | (1.96 | ) | (9.07 | ) | (1.35 | ) | 3.02 | (1.41 | ) | 1.83 | ||||||||||||||||||||||||||||
Total from investment operations | 0.12 | 0.06 | (1.62 | ) | 0.83 | 6.89 | 0.56 | (6.99 | ) | (0.62 | ) | 3.26 | (0.95 | ) | 2.04 | |||||||||||||||||||||||||||||
Net equalization credits and charges (1) | (0.00 | )(3) | 0.00 | (3) | 0.12 | — | (0.10 | ) | 0.35 | 0.03 | 0.10 | 0.03 | 0.07 | (0.06 | ) | |||||||||||||||||||||||||||||
Other Capital (1) | — | 0.01 | 0.03 | — | 0.03 | 0.17 | 0.07 | 0.05 | 0.01 | 0.10 | 0.07 | |||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.14 | ) | (0.04 | ) | (1.58 | ) | (0.10 | ) | (0.99 | ) | (0.80 | ) | (0.04 | ) | (0.67 | ) | — | (0.54 | ) | (0.05 | ) | |||||||||||||||||||||||
Net realized gains | — | — | (0.01 | ) | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Return of capital | — | — | — | — | — | — | (1.88 | ) | — | — | (0.00 | )(3) | — | |||||||||||||||||||||||||||||||
Total distributions | (0.14 | ) | (0.04 | ) | (1.59 | ) | (0.10 | ) | (0.99 | ) | (0.80 | ) | (1.92 | ) | (0.67 | ) | — | (0.54 | ) | (0.05 | ) | |||||||||||||||||||||||
Net asset value, end of period | $ | 30.01 | $ | 30.03 | $ | 47.67 | $ | 50.73 | $ | 58.01 | $ | 52.18 | $ | 51.90 | $ | 60.71 | $ | 37.03 | $ | 33.73 | $ | 35.05 | ||||||||||||||||||||||
Total return (4) | 0.39 | % | 0.23 | % | (2.95 | )% | 1.67 | % | 13.11 | % | 2.03 | % | (11.34 | )% | (0.73 | )% | 9.78 | % | (2.32 | )% | 6.22 | % | ||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 9,002 | $ | 15,013 | $ | 33,368 | $ | 10,147 | $ | 893,373 | $ | 850,501 | $ | 394,482 | $ | 206,414 | $ | 166,616 | $ | 134,928 | $ | 10,514 | ||||||||||||||||||||||
Ratio of expenses to average net assets | 0.21 | %(5) | 0.21 | %(5) | 0.35 | %(5) | 0.36 | %(5) | 0.52 | %(5) | 0.50 | % | 0.50 | % | 0.50 | %(5) | 0.37 | %(5) | 0.35 | % | 0.36 | %(5) | ||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 0.75 | %(5) | 0.26 | %(5) | 5.31 | %(5) | 5.10 | %(5) | 4.07 | %(5) | 4.60 | % | 4.20 | % | 6.89 | %(5) | 1.32 | %(5) | 1.30 | % | 1.39 | %(5) | ||||||||||||||||||||||
Portfolio turnover rate (6) | 36 | % | 173 | % | 73 | % | 16 | % | 15 | % | 40 | % | 50 | % | 2 | % | 56 | % | 95 | % | 39 | % |
* | Commencement of operations | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | 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. | |
(3) | Amount is less than $0.005 per share. | |
(4) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | Annualized. | |
(6) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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SPDR SERIES TRUST
FINANCIAL HIGHLIGHTS
FINANCIAL HIGHLIGHTS
Selected data for a share outstanding throughout each period
SPDR Barclays Capital International Treasury Bond ETF | SPDR Barclays Capital International Corporate Bond ETF | SPDR Barclays Capital High Yield Bond ETF | SPDR Barclays Capital Short Term Corporate Bond ETF | |||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended | For the Period | Six Months Ended | For the Period | Six Months Ended | For the Period | Six Months Ended | For the Period | |||||||||||||||||||||||||||||||||||||||||
12/31/10 | Year Ended | Year Ended | 10/2/07*- | 12/31/10 | 5/19/10*- | 12/31/10 | Year Ended | Year Ended | 11/28/07*- | 12/31/10 | 12/16/09*- | |||||||||||||||||||||||||||||||||||||
(Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | (Unaudited) | 6/30/10 | (Unaudited) | 6/30/10 | 6/30/09 | 6/30/08 | (Unaudited) | 6/30/10 | |||||||||||||||||||||||||||||||||||||
Net asset value, beginning of period | $ | 53.78 | $ | 54.19 | $ | 55.14 | $ | 51.55 | $ | 29.97 | $ | 30.00 | $ | 37.99 | $ | 34.30 | $ | 43.82 | $ | 47.29 | $ | 29.98 | $ | 30.00 | ||||||||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income (loss) | 0.68 | (1) | 1.48 | (1) | 1.51 | (1) | 0.97 | 0.41 | (1) | 0.07 | (1) | 1.74 | (1) | 4.16 | (1) | 4.75 | (1) | 2.19 | 0.29 | (1) | 0.31 | (1) | ||||||||||||||||||||||||||
Net realized and unrealized gain (loss) (2) | 4.26 | (1.48 | ) | (1.32 | ) | 3.49 | 2.44 | (0.14 | ) | 2.35 | 3.70 | (10.11 | ) | (4.04 | ) | 0.32 | (0.17 | ) | ||||||||||||||||||||||||||||||
Total from investment operations | 4.94 | — | 0.19 | 4.46 | 2.85 | (0.07 | ) | 4.09 | 7.86 | (5.36 | ) | (1.85 | ) | 0.61 | 0.14 | |||||||||||||||||||||||||||||||||
Net equalization credits and charges (1) | 0.24 | (0.08 | ) | (0.01 | ) | 0.11 | — | — | 0.04 | 0.14 | 0.39 | 0.39 | 0.00 | (3) | 0.04 | |||||||||||||||||||||||||||||||||
Other Capital (1) | 0.03 | 0.10 | 0.02 | 0.03 | — | 0.04 | 0.01 | 0.00 | (3) | 0.00 | (3) | 0.01 | 0.00 | (3) | 0.06 | |||||||||||||||||||||||||||||||||
Distributions to shareholders from: | ||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income | (0.37 | ) | (0.43 | ) | (1.15 | ) | (1.01 | ) | (0.69 | ) | — | (2.08 | ) | (4.31 | ) | (4.55 | ) | (2.02 | ) | (0.35 | ) | (0.26 | ) | |||||||||||||||||||||||||
Net realized gains | — | — | — | — | (0.01 | ) | — | (0.61 | ) | — | — | — | (0.03 | ) | — | |||||||||||||||||||||||||||||||||
Total distributions | (0.37 | ) | (0.43 | ) | (1.15 | ) | (1.01 | ) | (0.70 | ) | — | (2.69 | ) | (4.31 | ) | (4.55 | ) | (2.02 | ) | (0.38 | ) | (0.26 | ) | |||||||||||||||||||||||||
Net asset value, end of period | $ | 58.62 | $ | 53.78 | $ | 54.19 | $ | 55.14 | $ | 32.12 | $ | 29.97 | $ | 39.44 | $ | 37.99 | $ | 34.30 | $ | 43.82 | $ | 30.21 | $ | 29.98 | ||||||||||||||||||||||||
Total return (4) | 9.70 | % | (0.01 | )% | 0.50 | % | 8.95 | % | 9.54 | % | (0.10 | )% | 11.06 | % | 24.22 | % | (10.13 | )%(5) | (3.10 | )% | 2.04 | % | 0.79 | % | ||||||||||||||||||||||||
Net assets, end of period (in 000’s) | $ | 1,342,370 | $ | 1,037,923 | $ | 1,089,231 | $ | 760,990 | $ | 6,423 | $ | 5,993 | $ | 6,315,266 | $ | 4,301,252 | $ | 1,900,709 | $ | 394,346 | $ | 196,371 | $ | 161,898 | ||||||||||||||||||||||||
Ratio of expenses to average net assets | 0.52 | %(6) | 0.50 | % | 0.50 | % | 0.50 | %(6) | 0.55 | %(6) | 0.55 | %(6) | 0.41 | %(6) | 0.40 | % | 0.40 | % | 0.40 | %(6) | 0.13 | %(6) | 0.13 | %(6) | ||||||||||||||||||||||||
Ratio of net investment income (loss) to average net assets | 2.33 | %(6) | 2.62 | % | 2.91 | % | 3.03 | %(6) | 2.48 | %(6) | 2.16 | %(6) | 8.71 | %(6) | 10.96 | % | 14.81 | % | 9.43 | %(6) | 1.90 | %(6) | 1.94 | %(6) | ||||||||||||||||||||||||
Portfolio turnover rate (7) | 42 | % | 80 | % | 43 | % | 54 | % | 8 | % | 2 | % | 22 | % | 53 | % | 30 | % | 19 | % | 19 | % | 23 | % |
* | Commencement of operations | |
(1) | Per share numbers have been calculated using average shares outstanding, which more appropriately presents the per share data for the period. | |
(2) | 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. | |
(3) | Amount is less than $0.005 per share. | |
(4) | 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 Fund. Total return for periods of less than one year is not annualized. Broker commission charges are not included in this calculation. | |
(5) | If the Adviser had not made a voluntary contribution during the Year Ended 6/30/09 to the SPDR Barclays Capital High Yield Bond ETF, the total return would have been (10.44)%. | |
(6) | Annualized. | |
(7) | Portfolio Turnover rate excludes securities received or delivered from in kind processing of creations or redemptions. |
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SPDR SERIES TRUST
NOTES TO FINANCIAL STATEMENTS
NOTES TO FINANCIAL STATEMENTS
December 31, 2010 (Unaudited)
1. | Organization |
SPDR Series Trust (the “Trust”), which is registered under the Investment Company Act of 1940, as amended (“1940 Act”), is an open-end investment management company that was organized as a Massachusetts business trust on June 12, 1998.
As of December 31, 2010, the Trust offered forty-nine (49) portfolios, each of which represents a separate series of beneficial interest in the Trust (each referred to as a “Fund”, collectively as the “Funds”). The financial statements herein relate to the following twenty-one (21) Funds: SPDR Barclays Capital 1-3 Month T-Bill ETF, SPDR Barclays Capital TIPS ETF, SPDR Barclays Capital Intermediate Term Treasury ETF, SPDR Barclays Capital Long Term Treasury ETF, SPDR Barclays Capital Intermediate Term Corporate Bond ETF, SPDR Barclays Capital Long Term Corporate Bond ETF, SPDR Barclays Capital Convertible Securities ETF, SPDR Barclays Capital Mortgage Backed Bond ETF, SPDR Barclays Capital Aggregate Bond ETF, SPDR Nuveen Barclays Capital Municipal Bond ETF, SPDR Nuveen Barclays Capital California Municipal Bond ETF, SPDR Nuveen Barclays Capital New York Municipal Bond ETF, SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF, SPDR Nuveen S&P VRDO Municipal Bond ETF, SPDR Nuveen Barclays Capital Build America Bond ETF, SPDR DB International Government Inflation-Protected Bond ETF, SPDR Barclays Capital Short Term International Treasury Bond ETF, SPDR Barclays Capital International Treasury Bond ETF, SPDR Barclays Capital International Corporate Bond ETF, SPDR Barclays Capital High Yield Bond ETF and SPDR Barclays Capital Short Term Corporate Bond ETF. Each Fund operates as a non-diversified investment company. The other twenty-eight (28) Funds are included in a separate Semi-Annual Report.
Under the Trust’s organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown as this could involve future claims that may be made against the Trust that have not yet occurred. However, based on experience, the Trust expects the risk of loss to be remote.
The Trust invests in various investments which are exposed to risks, such as market risk. Due to the level of risk associated with certain investments it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the financial statements.
An investment in a Fund involves risks similar to those of investing in any fund of fixed income securities, such as market fluctuations caused by such factors as economic and political developments, changes in interest rates and perceived trends in securities prices. The value of each Fund’s shares will decline, more or less, in correlation with any decline in the value of the Fund’s benchmark index. The values of fixed income securities could decline generally or could underperform other investments. Generally, a Fund will not sell a fixed income security because the security’s issuer is in financial trouble, unless that security is removed from the Fund’s respective benchmark index.
2. | Significant Accounting Policies |
The following is a summary of significant accounting policies followed by the Trust in the preparation of its financial statements:
The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.
Security Valuation
The value of each Fund’s portfolio securities and other financial instruments are based on the market price of the securities, which generally means a valuation obtained from an exchange or other market (or based on a price quotation or other equivalent indication of value supplied by an exchange or other market) or a valuation obtained from an independent pricing service. Investments in open-end investment companies are valued at their net asset value each business day. Variable Rate Demand Obligations are valued at par. Forward foreign currency contracts are valued at the forward rate and are marked-to-market daily. U.S. fixed income securities may be valued as of the announced
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SPDR SERIES TRUST
NOTES TO FINANCIAL STATEMENTS (continued)
NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 2010 (Unaudited)
closing time for trading in fixed income instruments on any day that the Securities Industry and Financial Markets Association announces an early closing time. If a security’s market price is not readily available or does not otherwise accurately reflect the fair value of the security, the security will be valued by another method that the Board of Trustees of the Trust (the “Board”) believes will better reflect fair value in accordance with the Trust’s valuation policies and procedures. The Board has delegated the process of valuing securities for which market quotations are not readily available or do not otherwise accurately reflect the fair value of the security to the Pricing and Investment Committee (the “Committee”). The Committee, subject to oversight by the Board, may use fair value pricing in a variety of circumstances, including but not limited to, situations when trading in a security has been suspended or halted. Accordingly, a Fund’s net asset value may reflect certain portfolio securities’ fair values rather than their market prices. Fair value pricing involves subjective judgments and it is possible that the fair value determination for a security is materially different than the value that could be received on the sale of the security.
The Funds continue to follow the authoritative guidance for fair value measurements and the fair value option for financial assets and financial liabilities. The guidance for the fair value option for financial assets and financial liabilities provides funds the irrevocable option to measure many financial assets and liabilities at fair value with changes in fair value recognized in earnings. The guidance also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The guidance establishes three levels of inputs that may be used to measure fair value:
• | Level 1 — quoted prices in active markets for identical investments. |
• | Level 2 — other significant observable inputs (including, but not limited to, quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.). |
• | Level 3 — significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments). |
Investments that use Level 2 or Level 3 inputs may include, but are not limited to: (i) an unlisted security related to corporate actions; (ii) a restricted security (e.g., one that may not be publicly sold without registration under the Securities Act of 1933, as amended); (iii) a security whose trading has been suspended or which has been de-listed from its primary trading exchange; (iv) a security that is thinly traded; (v) a security in default or bankruptcy proceedings for which there is no current market quotation; (vi) a security affected by currency controls or restrictions; and (vii) a security affected by a significant event (e.g., an event that occurs after the close of the markets on which the security is traded but before the time as of which the Funds’ net assets are computed and that may materially affect the value of the Funds’ investments). Examples of events that may be “significant events” are government actions, natural disasters, armed conflict, acts of terrorism, and significant market fluctuations.
Fair value pricing could result in a difference between the prices used to calculate a Fund’s net asset value and the prices used by the Fund’s benchmark index, which, in turn, could result in a difference between the Fund’s performance and the performance of the Fund’s benchmark index. The inputs or methodology used for valuation are not necessarily an indication of the risk associated with investing in those investments.
The type of inputs used to value each security is identified in the Schedule of Investments, which also includes a breakdown of the Fund’s investments by debt securities issued by the U.S. government or U.S. government agencies, corporate debt securities, commercial mortgage obligations, debt issued by state of the U.S. and political subdivisions of states.
The following table summarizes the inputs used in valuing the Funds’ investments, as of December 31, 2010:
Level 2 — | Level 3 — | |||||||||||||||||||
Level 1 — | Other Significant | Significant | ||||||||||||||||||
Quoted | Observable | Unobservable | ||||||||||||||||||
Fund | Prices | Inputs | Inputs | Total | ||||||||||||||||
SPDR Barclays Capital 1-3 Month T-Bill ETF | $ | 268,390 | $ | 1,013,342,995 | $ | — | $ | 1,013,611,385 | ||||||||||||
SPDR Barclays Capital TIPS ETF | 6,653,659 | 357,762,405 | — | 364,416,064 |
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Level 2 — | Level 3 — | |||||||||||||||||||
Level 1 — | Other Significant | Significant | ||||||||||||||||||
Quoted | Observable | Unobservable | ||||||||||||||||||
Fund | Prices | Inputs | Inputs | Total | ||||||||||||||||
SPDR Barclays Capital Intermediate Term Treasury ETF | $ | 42,300,300 | $ | 203,978,729 | $ | — | $ | 246,279,029 | ||||||||||||
SPDR Barclays Capital Long Term Treasury ETF | 5,211,524 | 27,586,157 | — | 32,797,681 | ||||||||||||||||
SPDR Barclays Capital Intermediate Term Corporate Bond ETF | 5,811,940 | 139,331,740 | — | 145,143,680 | ||||||||||||||||
SPDR Barclays Capital Long Term Corporate Bond ETF | 1,460,254 | 27,736,299 | — | 29,196,553 | ||||||||||||||||
SPDR Barclays Capital Convertible Securities ETF | 203,703,579 | 397,376,249 | — | 601,079,828 | ||||||||||||||||
SPDR Barclays Capital Mortgage Backed Bond ETF | 32,597,032 | 32,111,857 | — | 64,708,889 | ||||||||||||||||
SPDR Barclays Capital Aggregate Bond ETF | 113,293,075 | 226,024,653 | — | 339,317,728 | ||||||||||||||||
SPDR Nuveen Barclays Capital Municipal Bond ETF | 2,481,197 | 850,484,394 | — | 852,965,591 | ||||||||||||||||
SPDR Nuveen Barclays Capital California Municipal Bond ETF | 175,352 | 65,210,920 | — | 65,386,272 | ||||||||||||||||
SPDR Nuveen Barclays Capital New York Municipal Bond ETF | 624,476 | 25,232,647 | — | 25,857,123 | ||||||||||||||||
SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF | 3,355,554 | 1,293,463,992 | — | 1,296,819,546 | ||||||||||||||||
SPDR Nuveen S&P VRDO Municipal Bond ETF | 30,828 | 8,972,000 | — | 9,002,828 | ||||||||||||||||
SPDR Nuveen Barclays Capital Build America Bond ETF | 40,995 | 33,026,321 | — | 33,067,316 | ||||||||||||||||
SPDR DB International Government Inflation-Protected Bond ETF | 173,461 | 886,786,385 | — | 886,959,846 | ||||||||||||||||
SPDR Barclays Capital Short Term International Treasury Bond ETF | 1,205,745 | 150,519,449 | — | 151,725,194 | ||||||||||||||||
SPDR Barclays Capital International Treasury Bond ETF | 10,820,067 | 1,318,433,611 | — | 1,329,253,678 | ||||||||||||||||
SPDR Barclays Capital International Corporate Bond ETF | 923 | 6,270,425 | — | 6,271,348 | ||||||||||||||||
SPDR Barclays Capital High Yield Bond ETF | 96,742,366 | 6,173,883,306 | — | 6,270,625,672 | ||||||||||||||||
SPDR Barclays Capital Short Term Corporate Bond ETF | 4,745,594 | 193,998,995 | — | 198,744,589 |
Level 2 — | Level 3 — | |||||||||||||||||||
Level 1 — | Other Significant | Significant | ||||||||||||||||||
Quoted | Observable | Unobservable | ||||||||||||||||||
Fund — Other Financial Instruments | Prices | Inputs | Inputs | Total | ||||||||||||||||
SPDR Barclays Capital Short Term International Treasury Bond ETF | $ | — | $ | 18,282 | $ | — | $ | 18,282 | ||||||||||||
SPDR Barclays Capital International Treasury Bond ETF | — | 311,504 | — | 311,504 | ||||||||||||||||
SPDR Barclays Capital International Corporate Bond ETF | — | (368 | ) | — | (368 | ) |
* | Other Financial Instruments are derviative instruments not reflected in the Schedule of Investments, such as futures, forward foreign currency contracts, and swap contracts, which are valued at the unrealized appreciation/depreciation on the instrument. |
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NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 2010 (Unaudited)
Investment Income
Interest income is recorded on the accrual basis. All premiums and discounts are amortized/accreted for financial reporting purposes. Dividend income is recorded on the ex-dividend date. The value of additional securities received as dividend payments is recorded as income and as an increase to the cost basis of such securities.
Expenses
Advisory fees and other expenses, which are directly identifiable to a specific Fund, are applied to that Fund. Trustees’ fees and other expenses which cannot be attributed to a Fund are allocated in such a manner as deemed equitable, taking into consideration the relative net assets of the Funds.
Equalization
The Funds follow the accounting practice known as “Equalization” by which a portion of the proceeds from sales and costs of reacquiring Fund shares, equivalent on a per share basis to the amount of distributable net investment income on the date of the transaction, is credited or charged to undistributed net investment income. As a result, undistributed net investment income per share is unaffected by sales or reacquisition of Fund shares. Amounts related to Equalization can be found on the Statements of Changes.
Investment Transactions
Investment transactions are recorded on the trade date. Realized gains and losses from the sale or disposition of securities and foreign exchange transactions are recorded on the identified cost basis. Corporate actions (including cash dividends) are recorded net of foreign tax withholdings on the ex-dividend date.
Foreign Currency Translation and Foreign Investments
The accounting records of the Funds are maintained in U.S. dollars. Portfolio securities and other assets and liabilities denominated in a foreign currency are translated to U.S. dollars at the prevailing rates of exchange at period end. Purchases and sales of securities, income receipts and expense payments are translated into U.S. dollars at the prevailing exchange rate on the respective dates of transactions. The effects of changes in foreign currency exchange rates on portfolio investments are included in the net realized and unrealized gains and losses on investments and foreign currency transactions on the Statements of Operations. Net gains and losses on foreign currency transactions include disposition of foreign currencies, and currency gains and losses between the accrual and receipt dates of portfolio investment income and between the trade and settlement dates of portfolio investment transactions.
Investing in securities of foreign companies and foreign governments involves special risks and considerations not typically associated with investing in U.S. companies and securities of the U.S. government. These risks include revaluation of currencies and the risk of expropriation. Moreover, the markets for securities of many foreign companies and foreign governments may be less liquid and the prices of such securities may be more volatile than those of comparable U.S. companies and the U.S. government.
Some foreign markets in which the Funds invest are considered emerging markets. Investment in these emerging markets subjects a Fund to a greater risk of loss than investments in a developed market. This is due to, among other things, greater market volatility, lower trading volume, political and economic instability, higher levels of inflation, deflation or currency devaluation, greater risk of market shut down, and more governmental limitations on foreign investment policy than those typically found in a developed market.
Forward Foreign Currency Contracts
The SPDR DB International Government Inflation-Protected Bond ETF, SPDR Barclays Capital Short Term International Treasury Bond ETF, SPDR Barclays Capital International Corporate Bond ETF and the SPDR Barclays Capital International Treasury Bond ETF may enter into forward foreign currency contracts to hedge their portfolio holdings against future movements in certain foreign currency exchange rates. A forward currency contract is a commitment to purchase or sell a foreign currency at a future date at a set price. The forward currency contracts are valued at the forward rate and are marked-to-market daily. The change in market value is recorded by the Fund as an
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December 31, 2010 (Unaudited)
unrealized gain or loss. When the contract is closed, the Fund recognizes a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.
The use of forward foreign currency contracts does not eliminate fluctuations in the underlying prices of the securities of the Fund, but it does establish a rate of exchange that can be achieved in the future. Although forward foreign currency contracts to sell limit the risk of loss due to a decline in the value of the currency holdings, they also limit any potential gain that might result should the value of the currency increase. In addition, the Fund could be exposed to risks if the counterparties to the contracts are unable to meet the terms of the contracts.
The following tables summarize the value of the Fund’s derivative instruments as of December 31, 2010 and the related location in the accompanying Statements of Assets and Liabilities and Statements of Operations, presented by primary underlying risk exposure:
Asset Derivative | ||||||||||||||||||||||||||||||
Interest | Foreign | |||||||||||||||||||||||||||||
Rate | Exchange | Credit | Equity | Commodity | Other | |||||||||||||||||||||||||
Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | |||||||||||||||||||||||||
Risk | Risk | Risk | Risk | Risk | Risk | Total | ||||||||||||||||||||||||
SPDR Barclays Capital Short Term International Treasury Bond ETF(a) | Forward Contract | $ | — | $ | 18,282 | $ | — | $ | — | $ | — | $ | — | $ | 18,282 | |||||||||||||||
SPDR Barclays Capital International Treasury Bond ETF(a) | Forward Contract | — | 365,869 | — | — | — | — | 365,869 | ||||||||||||||||||||||
SPDR Barclays Capital International Corporate Bond ETF(a) | Forward Contract | — | 12,379 | — | — | — | — | 12,379 |
(a) | Unrealized appreciation (depreciation) on Forward Foreign Currency Contracts |
Liability Derivative | ||||||||||||||||||||||||||||||
Interest | Foreign | |||||||||||||||||||||||||||||
Rate | Exchange | Credit | Equity | Commodity | Other | |||||||||||||||||||||||||
Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | |||||||||||||||||||||||||
Risk | Risk | Risk | Risk | Risk | Risk | Total | ||||||||||||||||||||||||
SPDR Barclays Capital Short Term International Treasury Bond ETF(a) | Forward Contract | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||
SPDR Barclays Capital International Treasury Bond ETF(a) | Forward Contract | — | 54,365 | — | — | — | — | 54,365 | ||||||||||||||||||||||
SPDR Barclays Capital International Corporate Bond ETF(a) | Forward Contract | — | 12,747 | — | — | — | — | 12,747 |
(a) | Unrealized appreciation (depreciation) on Forward Foreign Currency Contracts |
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December 31, 2010 (Unaudited)
Realized Gain (Loss) | ||||||||||||||||||||||||||||||
Interest | Foreign | |||||||||||||||||||||||||||||
Rate | Exchange | Credit | Equity | Commodity | Other | |||||||||||||||||||||||||
Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | |||||||||||||||||||||||||
Risk | Risk | Risk | Risk | Risk | Risk | Total | ||||||||||||||||||||||||
SPDR Barclays Capital Short Term International Treasury Bond ETF(a) | Forward Contract | $ | — | $ | 2,040 | $ | — | $ | — | $ | — | $ | — | $ | 2,040 | |||||||||||||||
SPDR Barclays Capital International Treasury Bond ETF(a) | Forward Contract | — | 929 | — | — | — | — | 929 | ||||||||||||||||||||||
SPDR Barclays Capital International Corporate Bond ETF(a) | Forward Contract | — | 926 | — | — | — | — | 926 |
(a) | Realized gain (loss) on Forward Foreign Currency Contracts |
(b) | Realized gain (loss) on Swap Contracts |
Change in Appreciation (Depreciation) | ||||||||||||||||||||||||||||||
Interest | Foreign | |||||||||||||||||||||||||||||
Rate | Exchange | Credit | Equity | Commodity | Other | |||||||||||||||||||||||||
Contracts | Contracts | Contracts | Contracts | Contracts | Contracts | |||||||||||||||||||||||||
Risk | Risk | Risk | Risk | Risk | Risk | Total | ||||||||||||||||||||||||
SPDR Barclays Capital Short Term International Treasury Bond ETF(a) | Forward Contract | $ | — | $ | 19,445 | $ | — | $ | — | $ | — | $ | — | $ | 19,445 | |||||||||||||||
SPDR Barclays Capital International Treasury Bond ETF(a) | Forward Contract | — | 231,839 | — | — | — | — | 231,839 | ||||||||||||||||||||||
SPDR Barclays Capital International Corporate Bond ETF(a) | Forward Contract | — | (4,650 | ) | — | — | — | — | (4,650 | ) |
(a) | Unrealized appreciation (depreciation) on Forward Foreign Currency Contracts |
The volume of derivatives held at period end is indicative of the volume held throughout the period.
Mortgage Dollar Rolls
The SPDR Barclays Capital Aggregate Bond ETF and the SPDR Barclays Capital Mortgage Backed Bond ETF may enter into mortgage dollar roll transactions with respect to mortgage-backed securities for delivery in the current month and simultaneously contracts to repurchase similar, but not identical, securities on a fixed date.
The counterparty receives all principal and interest payments, including prepayments, made on the security while it is the holder. The Fund receives compensation as consideration for entering into the commitment to repurchase.
The compensation is paid in the form of a lower price for the security upon its repurchase, or alternatively, a fee. Mortgage dollar rolls may be renewed with a new sale and repurchase price and a cash settlement made at each renewal without physical delivery of the securities subject to the contract. Certain risks may arise upon entering into mortgage dollar rolls from the potential inability of counterparties to meet the terms of their commitments.
Additionally, the value of such securities may change adversely before the Fund is able to repurchase them. There can be no assurance that the Funds’ use of the cash that it receives from a mortgage dollar roll will provide a return that exceeds its costs. The Funds’ use of to-be announced (“TBA”) mortgage dollar rolls may cause the fund to experience higher transaction costs.
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NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 2010 (Unaudited)
Inflation-Indexed Instruments
The SPDR Barclays Capital TIPS ETF and SPDR DB International Government Inflation-Protected Bond ETF may invest almost exclusively in inflation-indexed instruments which are fixed income securities whose principal value is periodically adjusted to the rate of inflation. The interest rate on these instruments is generally fixed at issuance at a rate lower than typical bonds or notes. Over the life of an inflation-indexed instrument, however, interest will be paid based on a principal value, which is adjusted for any inflation or deflation. Any increase or decrease in the principal amount of an inflation-indexed instrument will result in an adjustment of interest income which is distributed to shareholders monthly. Investors will receive their inflation-adjusted principal at maturity. Deflation may cause dividends to be suspended.
Federal Income Tax
The Funds have qualified and intend to continue to qualify for and elect treatment as “regulated investment companies” under Subchapter M of the Internal Revenue Code of 1986, as amended. By so qualifying and electing, each Fund will not be subject to federal income taxes to the extent it distributes its taxable income, including any net realized capital gains, for each fiscal year. In addition, by distributing during each calendar year substantially all of their net investment income and capital gains, if any, the Funds will not be subject to federal excise tax. Income and capital gain distributions are determined in accordance with income tax regulations which may differ from U.S. generally accepted accounting principles. These book-tax differences are primarily due to differing treatments for tax equalization, in-kind transactions, foreign currencies and losses deferred due to wash sales.
Additionally, based on the Funds’ understanding of the tax rules and rates related to income, gains and transactions for the foreign jurisdictions in which the applicable Funds invest, the Funds will provide for foreign taxes and, where appropriate, deferred foreign taxes.
The Funds have reviewed the tax positions for the open tax years as of June 30, 2010 and have determined that no provision for income tax is required in the Funds’ Financial Statements. The Funds’ federal tax returns for the prior three fiscal years remain subject to examination by the Funds’ major tax jurisdictions, which include the United States of America and the Commonwealth of Massachusetts. The Funds recognized interest and penalties, if any, related to tax liabilities as income tax expense in the Statements of Operations.
For the six months ended December 31, 2010, the following Funds reclassified non-taxable security gains and losses realized on the in-kind redemption of Creation Units (Note 4) as an increase or decrease to paid in capital in the Statements of Assets and Liabilities as follows:
Net Gain (Loss) | ||||
Reclassified | ||||
to Paid in Capital | ||||
SPDR Barclays Capital 1-3 Month T-Bill ETF | $ | 3,173 | ||
SPDR Barclays Capital TIPS ETF | 3,363,960 | |||
SPDR Barclays Capital Intermediate Term Treasury ETF | 1,064,563 | |||
SPDR Barclays Capital Long Term Treasury ETF | 78,552 | |||
SPDR Barclays Capital Intermediate Term Corporate Bond ETF | 362,147 | |||
SPDR Barclays Capital Long Term Corporate Bond ETF | 142,900 | |||
SPDR Barclays Capital Convertible Securities ETF | — | |||
SPDR Barclays Capital Mortgage Backed Bond ETF | — | |||
SPDR Barclays Capital Aggregate Bond ETF | 794,969 | |||
SPDR Nuveen Barclays Capital Municipal Bond ETF | 1,701,484 | |||
SPDR Nuveen Barclays Capital California Municipal Bond ETF | (212,253 | ) | ||
SPDR Nuveen Barclays Capital New York Municipal Bond ETF | — | |||
SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF | 976,840 | |||
SPDR Nuveen S&P VRDO Municipal Bond ETF | — |
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NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 2010 (Unaudited)
Net Gain (Loss) | ||||
Reclassified | ||||
to Paid in Capital | ||||
SPDR Nuveen Barclays Capital Build America Bond ETF | $ | — | ||
SPDR DB International Government Inflation-Protected Bond ETF | — | |||
SPDR Barclays Capital Short Term International Treasury Bond ETF | — | |||
SPDR Barclays Capital International Treasury Bond ETF | — | |||
SPDR Barclays Capital International Corporate Bond ETF | — | |||
SPDR Barclays Capital High Yield Bond ETF | 75,570,459 | |||
SPDR Barclays Capital Short Term Corporate Bond ETF | 227,133 |
At December 31, 2010, the Funds had capital loss carryforwards which may be utilized to offset any net realized capital gains expiring on June 30:
2016 | 2017 | 2018 | ||||||||||
SPDR Barclays Capital 1-3 Month T-Bill ETF | $ | — | $ | — | $ | — | ||||||
SPDR Barclays Capital TIPS ETF | (1,158 | ) | (774,523 | ) | (209,542 | ) | ||||||
SPDR Barclays Capital Intermediate Term Treasury ETF | — | — | — | |||||||||
SPDR Barclays Capital Long Term Treasury ETF | — | — | (17,485 | ) | ||||||||
SPDR Barclays Capital Intermediate Term Corporate Bond ETF | — | — | — | |||||||||
SPDR Barclays Capital Long Term Corporate Bond ETF | — | — | — | |||||||||
SPDR Barclays Capital Convertible Securities ETF | — | — | — | |||||||||
SPDR Barclays Capital Mortgage Backed Bond ETF | — | — | — | |||||||||
SPDR Barclays Capital Aggregate Bond ETF | — | — | — | |||||||||
SPDR Nuveen Barclays Capital Municipal Bond ETF | — | — | — | |||||||||
SPDR Nuveen Barclays Capital California Municipal Bond ETF | — | (63,199 | ) | (77,735 | ) | |||||||
SPDR Nuveen Barclays Capital New York Municipal Bond ETF | — | (99,863 | ) | (86,278 | ) | |||||||
SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF | — | — | — | |||||||||
SPDR Nuveen S&P VRDO Municipal Bond ETF | — | — | — | |||||||||
SPDR Nuveen Barclays Capital Build America Bond ETF | — | — | — | |||||||||
SPDR DB International Government Inflation-Protected Bond ETF | — | (3,663,114 | ) | (3,346,541 | ) | |||||||
SPDR Barclays Capital Short Term International Treasury Bond ETF | — | — | — | |||||||||
SPDR Barclays Capital International Treasury Bond ETF | — | — | (532,370 | ) | ||||||||
SPDR Barclays Capital International Corporate Bond ETF | — | — | — | |||||||||
SPDR Barclays Capital High Yield Bond ETF | — | — | — | |||||||||
SPDR Barclays Capital Short Term Corporate Bond ETF | — | — | — |
Under current tax laws, capital losses realized after October 31, may be deferred and treated as occurring on the first day of the following fiscal Year. The Funds incurred the following losses during the period November 1, 2009 through June 30, 2010 that are deferred for tax purposes until fiscal 2011:
Deferred Losses | ||||
SPDR Barclays Capital 1-3 Month T-Bill ETF | $ | — | ||
SPDR Barclays Capital TIPS ETF | — | |||
SPDR Barclays Capital Intermediate Term Treasury ETF | — | |||
SPDR Barclays Capital Long Term Treasury ETF | (148,327 | ) | ||
SPDR Barclays Capital Intermediate Term Corporate Bond ETF | — | |||
SPDR Barclays Capital Long Term Corporate Bond ETF | — |
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Deferred Losses | ||||
SPDR Barclays Capital Convertible Securities ETF | $ | — | ||
SPDR Barclays Capital Mortgage Backed Bond ETF | — | |||
SPDR Barclays Capital Aggregate Bond ETF | — | |||
SPDR Nuveen Barclays Capital Municipal Bond ETF | — | |||
SPDR Nuveen Barclays Capital California Municipal Bond ETF | — | |||
SPDR Nuveen Barclays Capital New York Municipal Bond ETF | — | |||
SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF | — | |||
SPDR Nuveen S&P VRDO Municipal Bond ETF | — | |||
SPDR Nuveen Barclays Capital Build America Bond ETF | — | |||
SPDR DB International Government Inflation-Protected Bond ETF | (1,552,514 | ) | ||
SPDR Barclays Capital Short Term International Treasury Bond ETF | (4,003,926 | ) | ||
SPDR Barclays Capital International Treasury Bond ETF | (28,513,587 | ) | ||
SPDR Barclays Capital International Corporate Bond ETF | (159 | ) | ||
SPDR Barclays Capital High Yield Bond ETF | — | |||
SPDR Barclays Capital Short Term Corporate Bond ETF | — |
Distributions
Each Fund declares and distributes dividends from net investment income, if any, to its shareholders monthly. The Trust declares and distributes net realized capital gains, if any, at least annually. Distributions are recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. generally accepted accounting principles.
Effective October 30, 2009, the Trust’s Dividend Reinvestment Service is no longer available. Broker-dealers, at their own discretion, may offer a dividend reinvestment service under which additional shares of the Fund(s) are purchased in the secondary market at current market prices. Investors should consult their broker-dealer for further information regarding any dividend reinvestment service offered by such broker-dealer.
Subsequent Events
Management has determined there are no subsequent events or transactions that would have materially impacted the Funds’ financial statements as presented.
3. | Fees and Compensation Paid to Affiliates and Other Related Party Transactions |
Advisory Fee
Each Fund has entered into an Investment Advisory Agreement with SSgA Funds Management, Inc. (the “Adviser” or “SSgA FM”). As compensation for the services rendered, facilities furnished, and expenses borne by the Adviser, each Fund pays the Adviser a fee accrued daily and paid monthly, based on a percentage of each Fund’s average daily net assets as shown in the following table:
Annual Rate | ||||
SPDR Barclays Capital 1-3 Month T-Bill ETF | 0.1345 | % | ||
SPDR Barclays Capital TIPS ETF | 0.1845 | |||
SPDR Barclays Capital Intermediate Term Treasury ETF | 0.1345 | |||
SPDR Barclays Capital Long Term Treasury ETF | 0.1345 | |||
SPDR Barclays Capital Intermediate Term Corporate Bond ETF | 0.1500 | |||
SPDR Barclays Capital Long Term Corporate Bond ETF | 0.1500 | |||
SPDR Barclays Capital Convertible Securities ETF | 0.4000 |
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Annual Rate | ||||
SPDR Barclays Capital Mortgage Backed Bond ETF | 0.2000 | % | ||
SPDR Barclays Capital Aggregate Bond ETF | 0.1845 | * | ||
SPDR Nuveen Barclays Capital Municipal Bond ETF | 0.3000 | * | ||
SPDR Nuveen Barclays Capital California Municipal Bond ETF | 0.2000 | |||
SPDR Nuveen Barclays Capital New York Municipal Bond ETF | 0.2000 | |||
SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF | 0.2000 | |||
SPDR Nuveen S&P VRDO Municipal Bond ETF | 0.2000 | |||
SPDR Nuveen Barclays Capital Build America Bond ETF | 0.3500 | |||
SPDR DB International Government Inflation-Protected Bond ETF | 0.5000 | |||
SPDR Barclays Capital Short Term International Treasury Bond ETF | 0.3500 | |||
SPDR Barclays Capital International Treasury Bond ETF | 0.5000 | |||
SPDR Barclays Capital International Corporate Bond ETF | 0.5500 | |||
SPDR Barclays Capital High Yield Bond ETF | 0.4000 | |||
SPDR Barclays Capital Short Term Corporate Bond ETF | 0.1245 |
* | The Adviser has contractually agreed to limit its management fee to the extent necessary to limit annual operating expenses to 0.1345% and 0.2300% until October 31, 2011 for the SPDR Barclays Capital Aggregate Bond ETF and SPDR Barclays Capital Municipal Bond ETF, respectively. For SPDR Barclays Capital Municipal Bond ETF, the limit to the management fee was 0.2000% until October 31, 2010. |
The Adviser pays all operating expenses of each Fund other than management fee, distribution fee pursuant to each Fund’s Distribution and Service Plan, if any, brokerage, taxes, interest, fees and expenses of the Independent Trustees (including any Trustees’ counsel fees), litigation expenses, acquired fund fees and expenses and other extraordinary expenses.
State Street Bank and Trust Company (“State Street”), an affiliate of the Adviser, receives fees for its services as Custodian, Administrator and Transfer Agent from the Adviser.
State Street also acts as the securities lending agent for the Funds and receives a portion of any lending income. In addition, cash collateral from lending activities is invested in the State Street Navigator Securities Lending Prime Portfolio (“Prime Portfolio”) for which SSgA FM serves as the investment adviser. Prime Portfolio is a series of State Street Navigator Securities Lending Trust, a registered investment company under the 1940 Act, and operates as a money market fund in compliance with Rule 2a-7 under the 1940 Act. See Note 8 for additional information regarding securities lending.
For the six months ended December 31, 2010, State Street earned securities lending agent fees from the following funds:
Securities Lending | ||||
Agent Fees | ||||
SPDR Barclays Capital 1-3 Month T-Bill ETF | $ | 22,642 | ||
SPDR Barclays Capital TIPS ETF | 1,509 | |||
SPDR Barclays Capital Intermediate Term Treasury ETF | 4,141 | |||
SPDR Barclays Capital Long Term Treasury ETF | 534 | |||
SPDR Barclays Capital Intermediate Term Corporate Bond ETF | 1,374 | |||
SPDR Barclays Capital Long Term Corporate Bond ETF | 429 | |||
SPDR Barclays Capital Convertible Securities ETF | 10,003 | |||
SPDR Barclays Capital Mortgage Backed Bond ETF | — | |||
SPDR Barclays Capital Aggregate Bond ETF | 2,783 | |||
SPDR Nuveen Barclays Capital Municipal Bond ETF | — | |||
SPDR Nuveen Barclays Capital California Municipal Bond ETF | — |
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Securities Lending | ||||
Agent Fees | ||||
SPDR Nuveen Barclays Capital New York Municipal Bond ETF | $ | — | ||
SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF | — | |||
SPDR Nuveen S&P VRDO Municipal Bond ETF | — | |||
SPDR Nuveen Barclays Capital Build America Bond ETF | — | |||
SPDR DB International Government Inflation-Protected Bond ETF | 1,049 | |||
SPDR Barclays Capital Short Term International Treasury Bond ETF | — | |||
SPDR Barclays Capital International Treasury Bond ETF | — | |||
SPDR Barclays Capital International Corporate Bond ETF | — | |||
SPDR Barclays Capital High Yield Bond ETF | — | |||
SPDR Barclays Capital Short Term Corporate Bond ETF | — |
Distributor
State Street Global Markets, LLC (the “Distributor”), an affiliate of the Adviser, serves as the distributor of the shares of each Fund. Pursuant to a Distribution and Service Plan adopted in accordance with Rule 12b-1 under the 1940 Act, each Fund is authorized to pay an amount of up to 0.25% of its average daily net assets for certain distribution-related activities. However, the Board of Trustees has determined that no such payments will be made through at least October 31, 2011 and therefore no such payments have been made.
The Distributor has established an assisted trading program to aid Authorized Participants in certain creation and redemption activity for which the Distributor receives commissions from Authorized Participants. In addition, the Distributor receives compensation from State Street associated with on-line creation and redemption activity of Authorized Participants.
Trustees’ Fees
The Trust and SPDR Index Share Funds (“SIS Trust”) pay, in the aggregate, each Independent Trustee an annual fee of $132,500 plus $7,500 per in-person meeting attended and $1,250 for each telephonic or video conference meeting attended. The Chairman of the Board receives an additional annual fee of $37,500 and the Chair of the Audit Committee receives an additional annual fee of $15,000. The Trust also reimburses each Independent Trustee for travel and other out-of-pocket expenses incurred by him/her in connection with attending such meetings and in connection with attending industry seminars and meetings. Trustee fees are allocated between the Trust and SIS Trust and each of their respective series in such a manner as deemed equitable, taking into consideration the relative net assets of the series.
Transactions with Affiliates
Each Fund may invest in certain money market funds managed by the Adviser, including the State Street Institutional Liquid Reserves Fund-Institutional Class, (“Liquid Reserves Fund”) and State Street Institutional Tax Free Money Market Fund-Institutional Class (“Tax Free Money Market Fund”), both a series of State Street Institutional Investment Trust. The Liquid Reserves Fund and Tax Free Money Market Fund are both feeder funds in a master/feeder fund structure that invest substantially all of their assets in the State Street Money Market Portfolio and State Street Tax Free Money Market Portfolio (“Master Portfolios”), respectively, each a series of State Street Master Funds. The Liquid Reserves Fund and Tax Free Money Market Fund do not pay an investment advisory fee to the Adviser, but the respective Master Portfolio in which they invest pays an investment advisory fee to the Adviser. The Liquid Reserves Fund and Tax Free Money Market Fund intend to declare dividends on shares from net investment income daily and pay them as of the last business day of each month. All income distributions earned by the Funds from affiliated money market funds are recorded as interest income on securities of affiliated issuers in the accompanying Statements of Operations. In addition, cash collateral from lending activities is invested in Prime Portfolio, for which SSgA FM serves as the investment adviser.
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NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 2010 (Unaudited)
Amounts related to investments in Liquid Reserves Fund, Tax Free Money Market Fund and/or Prime Portfolio at December 31, 2010 and for the period then ended are:
Value at | Purchased | Sold | Value at | Realized | ||||||||||||||||||||||||||||
Liquid Reserves Fund | 6/30/10 | Cost | Shares | Proceeds | Shares | 12/31/10 | Income | Gain/(Loss) | ||||||||||||||||||||||||
SPDR Barclays Capital 1-3 Month T-Bill ETF | $ | 118,394 | $ | 10,203,834 | 10,203,834 | $ | 10,053,838 | 10,053,838 | $ | 268,390 | $ | 294 | $ | — | ||||||||||||||||||
SPDR Barclays Capital TIPS ETF | 81,251 | 8,543,114 | 8,543,114 | 7,723,432 | 7,723,432 | 900,933 | 812 | — | ||||||||||||||||||||||||
SPDR Barclays Capital Intermediate Term Treasury ETF | 525,070 | 41,702,258 | 41,702,258 | 41,073,753 | 41,073,753 | 1,153,575 | 1,503 | — | ||||||||||||||||||||||||
SPDR Barclays Capital Long Term Treasury ETF | 1,622 | 4,687,991 | 4,687,991 | 4,565,514 | 4,565,514 | 124,099 | 176 | — | ||||||||||||||||||||||||
SPDR Barclays Capital Intermediate Term Corporate Bond ETF | 2,198,747 | 18,272,585 | 18,272,585 | 15,796,200 | 15,796,200 | 4,675,132 | 4,041 | — | ||||||||||||||||||||||||
SPDR Barclays Capital Long Term Corporate Bond ETF | 880,585 | 6,317,870 | 6,317,870 | 6,807,239 | 6,807,239 | 391,216 | 782 | — | ||||||||||||||||||||||||
SPDR Barclays Capital Convertible Securities ETF | 3,037,026 | 67,688,356 | 67,688,356 | 56,865,503 | 56,865,503 | 13,859,879 | 3,944 | — | ||||||||||||||||||||||||
SPDR Barclays Capital Mortgage Backed Bond ETF | 26,464,512 | 45,492,063 | 45,492,063 | 39,359,543 | 39,359,543 | 32,597,032 | 41,824 | — | ||||||||||||||||||||||||
SPDR Barclays Capital Aggregate Bond ETF | 70,848,215 | 90,899,032 | 90,899,032 | 93,573,608 | 93,573,608 | 68,173,639 | 83,165 | — | ||||||||||||||||||||||||
SPDR Nuveen Barclays Capital Build America Bond ETF | 337,703 | 16,427,104 | 16,427,104 | 16,723,812 | 16,723,812 | 40,995 | 489 | — | ||||||||||||||||||||||||
SPDR DB International Government Inflation-Protected Bond ETF | 16,569 | 19,282,708 | 19,282,708 | 19,125,816 | 19,125,816 | 173,461 | 611 | — | ||||||||||||||||||||||||
SPDR Barclays Capital Short Term International Treasury Bond ETF | 2,290,565 | 20,259,145 | 20,259,145 | 21,343,965 | 21,343,965 | 1,205,745 | 1,679 | — | ||||||||||||||||||||||||
SPDR Barclays Capital International Treasury Bond ETF | 3,279,496 | 107,300,133 | 107,300,133 | 99,759,562 | 99,759,562 | 10,820,067 | 10,525 | — | ||||||||||||||||||||||||
SPDR Barclays Capital International Corporate Bond ETF | 7,320 | 84,277 | 84,277 | 90,674 | 90,674 | 923 | 5 | — | ||||||||||||||||||||||||
SPDR Barclays Capital High Yield Bond ETF | 14,812,046 | 925,585,740 | 925,585,740 | 843,655,420 | 843,655,420 | 96,742,366 | 79,311 | — | ||||||||||||||||||||||||
SPDR Barclays Capital Short Term Corporate Bond ETF | 6,232,291 | 36,837,216 | 36,837,216 | 38,323,913 | 38,323,913 | 4,745,594 | 2,591 | — |
Value at | Purchased | Sold | Value at | Realized | ||||||||||||||||||||||||||||
Tax Free Money Market Fund | 6/30/10 | Cost | Shares | Proceeds | Shares | 12/31/10 | Income | Gain/(Loss) | ||||||||||||||||||||||||
SPDR Nuveen Barclays Capital Municipal Bond ETF | $ | 1,323,334 | $ | 88,860,275 | 88,860,275 | $ | 87,702,412 | 87,702,412 | $ | 2,481,197 | $ | 2,407 | $ | — | ||||||||||||||||||
SPDR Nuveen Barclays Capital California Municipal Bond ETF | 69,456 | 21,498,510 | 21,498,510 | 21,392,614 | 21,392,614 | 175,352 | 464 | — | ||||||||||||||||||||||||
SPDR Nuveen Barclays Capital New York Municipal Bond ETF | 177,072 | 4,624,722 | 4,624,722 | 4,177,318 | 4,177,318 | 624,476 | 187 | — | ||||||||||||||||||||||||
SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF | 10,409,726 | 182,479,675 | 182,479,675 | 189,533,847 | 189,533,847 | 3,355,554 | 3,604 | — | ||||||||||||||||||||||||
SPDR Nuveen S&P VRDO Municipal Bond ETF | 116,417 | 2,545,492 | 2,545,492 | 2,631,081 | 2,631,081 | 30,828 | 39 | — |
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NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 2010 (Unaudited)
Value at | Purchased | Sold | Value at | Realized | ||||||||||||||||||||||||||||
Prime Portfolio | 6/30/10 | Cost | Shares | Proceeds | Shares | 12/31/10 | Income | Gain/(Loss) | ||||||||||||||||||||||||
SPDR Barclays Capital 1-3 Month T-Bill ETF | $ | — | $ | 1,923,665,940 | 1,923,665,940 | $ | 1,923,665,940 | 1,923,665,940 | $ | — | $ | 128,363 | $ | — | ||||||||||||||||||
SPDR Barclays Capital TIPS ETF | 37,370,682 | 55,890,740 | 55,890,740 | 87,508,696 | 87,508,696 | 5,752,726 | 8,550 | — | ||||||||||||||||||||||||
SPDR Barclays Capital Intermediate Term Treasury ETF | 26,431,174 | 81,007,131 | 81,007,131 | 66,291,580 | 66,291,580 | 41,146,725 | 23,460 | — | ||||||||||||||||||||||||
SPDR Barclays Capital Long Term Treasury ETF | 2,203,900 | 15,120,537 | 15,120,537 | 12,237,012 | 12,237,012 | 5,087,425 | 3,025 | — | ||||||||||||||||||||||||
SPDR Barclays Capital Intermediate Term Corporate Bond ETF | 16,362,468 | 14,343,150 | 14,343,150 | 29,568,810 | 29,568,810 | 1,136,808 | 7,780 | — | ||||||||||||||||||||||||
SPDR Barclays Capital Long Term Corporate Bond ETF | 3,383,865 | 10,594,483 | 10,594,483 | 12,909,310 | 12,909,310 | 1,069,038 | 2,432 | — | ||||||||||||||||||||||||
SPDR Barclays Capital Convertible Securities ETF | 33,590,990 | 135,621,647 | 135,621,647 | 109,014,212 | 109,014,212 | 60,198,425 | 56,688 | — | ||||||||||||||||||||||||
SPDR Barclays Capital Aggregate Bond ETF | 10,761,980 | 102,436,320 | 102,436,320 | 68,078,864 | 68,078,864 | 45,119,436 | 15,766 | — | ||||||||||||||||||||||||
SPDR DB International Government Inflation-Protected Bond ETF | 9,505,986 | 1,698,784 | 1,698,784 | 11,204,770 | 11,204,770 | — | 5,947 | — |
4. | Shareholder Transactions |
Shares are issued and redeemed by a Fund only in Creation Unit size aggregations of 100,000 shares. Such transactions are generally permitted on an in-kind basis, with a separate cash payment, which is a balancing cash component to equate the transaction to the net asset value per unit of the Fund on the transaction date and in the case of SPDR Barclays Capital Aggregate Bond ETF and SPDR Barclays Capital Mortgage Backed Bond ETF, cash in lieu of TBA positions. Transaction fees ranging from of $250 to $1,500 per Creation Unit for each Fund, regardless of the number of Creation Units that are created or redeemed on the same day, are charged to those persons creating or redeeming Creation Units. An additional variable fee may be charged for certain transactions. Transaction fees are received by the Trust and/or Custodian and are used to defray related expenses. The Custodian also receives amounts earned on cash collateral provided by Authorized Participants pending delivery of missing deposit securities.
5. | Aggregate Unrealized Appreciation and Depreciation |
The identified cost of investments in securities owned by each Fund for federal income tax purposes was substantially the same as cost for financial reporting purposes. Accordingly, gross unrealized appreciation and depreciation at December 31, 2010 was as follows:
Gross | Gross | Net Unrealized | ||||||||||||||
Identified | Unrealized | Unrealized | Appreciation | |||||||||||||
Cost | Appreciation | Depreciation | (Depreciation) | |||||||||||||
SPDR Barclays Capital 1-3 Month T-Bill ETF | $ | 1,013,584,393 | $ | 31,531 | $ | 4,539 | $ | 26,992 | ||||||||
SPDR Barclays Capital TIPS ETF | 346,950,383 | 17,734,758 | 269,077 | 17,465,681 | ||||||||||||
SPDR Barclays Capital Intermediate Term Treasury ETF | 242,236,537 | 4,664,123 | 621,631 | 4,042,492 | ||||||||||||
SPDR Barclays Capital Long Term Treasury ETF | 33,653,930 | 64,989 | 921,238 | (856,249 | ) | |||||||||||
SPDR Barclays Capital Intermediate Term Corporate Bond ETF | 142,454,656 | 3,381,139 | 692,115 | 2,689,024 | ||||||||||||
SPDR Barclays Capital Long Term Corporate Bond ETF | 28,190,625 | 1,358,548 | 352,620 | 1,005,928 | ||||||||||||
SPDR Barclays Capital Convertible Securities ETF | 556,107,335 | 46,460,897 | 1,488,404 | 44,972,493 | ||||||||||||
SPDR Barclays Capital Mortgage Backed Bond ETF | 64,877,609 | 66,389 | 235,109 | (168,720 | ) | |||||||||||
SPDR Barclays Capital Aggregate Bond ETF | 334,610,771 | 5,857,756 | 1,150,799 | 4,706,957 | ||||||||||||
SPDR Nuveen Barclays Capital Municipal Bond ETF | 854,506,334 | 13,708,202 | 15,248,945 | (1,540,743 | ) | |||||||||||
SPDR Nuveen Barclays Capital California Municipal Bond ETF | 67,804,655 | 444,167 | 2,862,550 | (2,418,383 | ) | |||||||||||
SPDR Nuveen Barclays Capital New York Municipal Bond ETF | 26,335,783 | 212,310 | 690,970 | (478,660 | ) | |||||||||||
SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF | 1,289,939,772 | 11,640,375 | 4,760,601 | 6,879,774 |
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NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 2010 (Unaudited)
Gross | Gross | Net Unrealized | ||||||||||||||
Identified | Unrealized | Unrealized | Appreciation | |||||||||||||
Cost | Appreciation | Depreciation | (Depreciation) | |||||||||||||
SPDR Nuveen S&P VRDO Municipal Bond ETF | $ | 9,002,828 | $ | — | $ | — | $ | — | ||||||||
SPDR Nuveen Barclays Capital Build America Bond ETF | 34,326,435 | 193,155 | 1,452,274 | (1,259,119 | ) | |||||||||||
SPDR DB International Government Inflation-Protected Bond ETF | 843,902,466 | 73,630,373 | 30,572,993 | 43,057,380 | ||||||||||||
SPDR Barclays Capital Short Term International Treasury Bond ETF | 148,431,781 | 5,680,195 | 2,386,782 | 3,293,413 | ||||||||||||
SPDR Barclays Capital International Treasury Bond ETF | 1,245,785,194 | 105,455,232 | 21,986,748 | 83,468,484 | ||||||||||||
SPDR Barclays Capital International Corporate Bond ETF | 5,879,117 | 419,511 | 27,280 | 392,231 | ||||||||||||
SPDR Barclays Capital High Yield Bond ETF | 5,947,091,933 | 350,383,272 | 26,849,533 | 323,533,739 | ||||||||||||
SPDR Barclays Capital Short Term Corporate Bond ETF | 197,498,912 | 1,510,128 | 264,451 | 1,245,677 |
6. | Investment Transactions |
For the six months ended December 31, 2010, the following Funds had in-kind contributions, in-kind redemptions and in-kind realized gain/loss as follows:
Realized | ||||||||||||
Contributions | Redemptions | Gain/(Loss) | ||||||||||
SPDR Barclays Capital 1-3 Month T-Bill ETF | $ | 715,491,618 | $ | 756,836,968 | $ | 3,173 | ||||||
SPDR Barclays Capital TIPS ETF | 21,265,968 | 42,296,965 | 3,363,960 | |||||||||
SPDR Barclays Capital Intermediate Term Treasury ETF | 5,642,075 | 40,516,282 | 1,064,563 | |||||||||
SPDR Barclays Capital Long Term Treasury ETF | 12,147,409 | 5,482,216 | 78,552 | |||||||||
SPDR Barclays Capital Intermediate Term Corporate Bond ETF | 36,163,572 | 9,659,399 | 362,147 | |||||||||
SPDR Barclays Capital Long Term Corporate Bond ETF | 2,799,950 | 6,263,098 | 142,900 | |||||||||
SPDR Barclays Capital Convertible Securities ETF | 181,152,298 | — | — | |||||||||
SPDR Barclays Capital Aggregate Bond ETF | 21,730,038 | 19,581,238 | 794,969 | |||||||||
SPDR Nuveen Barclays Capital Municipal Bond ETF | 57,227,972 | 100,158,011 | 1,701,484 | |||||||||
SPDR Nuveen Barclays Capital California Municipal Bond ETF | — | 4,260,596 | (212,253 | ) | ||||||||
SPDR Nuveen Barclays Capital New York Municipal Bond ETF | 602,664 | — | — | |||||||||
SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF | 50,324,304 | 66,115,805 | 976,840 | |||||||||
SPDR Barclays Capital High Yield Bond ETF | 2,041,804,146 | 728,800,893 | 75,570,459 | |||||||||
SPDR Barclays Capital Short Term Corporate Bond ETF | 47,623,031 | 26,108,506 | 227,133 |
The in-kind contributions and in-kind redemptions in this table may not accord with the beneficial interest transactions on the Statements of Changes. The table represents the accumulation of a Fund’s daily net shareholder transactions while the Statements of Changes reflect gross shareholder transactions including any cash component of the transaction.
For the six months ended December 31, 2010, the Funds had purchases and sales of investment securities (excluding short-term securities – with the exception of SPDR Barclays Capital 1-3 Month T-Bill ETF, SPDR Nuveen S&P
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December 31, 2010 (Unaudited)
VRDO Municipal Bond ETF, SPDR Barclays Capital Short Term Corporate Bond ETF and SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF), as follows:
U.S. Government Obligations | Other Securities | |||||||||||||||
Purchases | Sales | Purchases | Sales | |||||||||||||
SPDR Barclays Capital 1-3 Month T-Bill ETF | $ | 3,345,545,059 | $ | 3,346,023,328 | $ | — | $ | — | ||||||||
SPDR Barclays Capital TIPS ETF | 34,231,403 | 35,279,177 | — | — | ||||||||||||
SPDR Barclays Capital Intermediate Term Treasury ETF | 37,545,672 | 37,236,462 | — | — | ||||||||||||
SPDR Barclays Capital Long Term Treasury ETF | 4,113,898 | 4,130,260 | — | — | ||||||||||||
SPDR Barclays Capital Intermediate Term Corporate Bond ETF | — | — | 46,093,908 | 43,194,346 | ||||||||||||
SPDR Barclays Capital Long Term Corporate Bond ETF | — | — | 13,805,865 | 13,739,279 | ||||||||||||
SPDR Barclays Capital Convertible Securities ETF | — | — | 96,189,319 | 62,845,021 | ||||||||||||
SPDR Barclays Capital Mortgage Backed Bond ETF | 264,501,136 | 259,900,390 | — | — | ||||||||||||
SPDR Barclays Capital Aggregate Bond ETF | 396,764,001 | 395,904,515 | 3,194,683 | 8,936,755 | ||||||||||||
SPDR Nuveen Barclays Capital Municipal Bond ETF | — | — | 70,712,610 | 91,952,505 | ||||||||||||
SPDR Nuveen Barclays Capital California Municipal Bond ETF | — | — | 24,072,360 | 14,998,568 | ||||||||||||
SPDR Nuveen Barclays Capital New York Municipal Bond ETF | — | — | 8,759,925 | 7,480,356 | ||||||||||||
SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF | — | — | 272,318,444 | 174,928,183 | ||||||||||||
SPDR Nuveen S&P VRDO Municipal Bond ETF | — | — | 4,165,000 | 10,180,000 | ||||||||||||
SPDR Nuveen Barclays Capital Build America Bond ETF | — | — | 39,909,659 | 15,385,480 | ||||||||||||
SPDR DB International Government Inflation-Protected Bond ETF | — | — | 128,340,554 | 175,610,812 | ||||||||||||
SPDR Barclays Capital Short Term International Treasury Bond ETF | — | — | 95,169,039 | 80,894,085 | ||||||||||||
SPDR Barclays Capital International Treasury Bond ETF | — | — | 759,536,949 | 496,754,936 | ||||||||||||
SPDR Barclays Capital International Corporate Bond ETF | — | — | 552,044 | 515,446 | ||||||||||||
SPDR Barclays Capital High Yield Bond ETF | — | — | 1,502,856,058 | 1,175,667,146 | ||||||||||||
SPDR Barclays Capital Short Term Corporate Bond ETF | — | — | 46,952,765 | 34,123,814 |
For the six months ended December 31, 2010, the Trust did not pay any commissions to an affiliate of the Adviser for investment transactions.
7. | Concentration of Risk |
The Funds’ assets may be concentrated in a particular state or geographic area, or in a particular industry, group of industries or sector. Because each Fund will generally concentrate its investments to approximately the same extent that its index is so concentrated, a Fund may be adversely affected by the performance of bonds of a particular state or geographic area, or in a particular industry, group of industries or sector, and its shares may be subject to increased price volatility. In addition, if a Fund concentrates in a single industry, group of industries or type of instrument, it may be more susceptible to any single economic, market, political or regulatory occurrence affecting that industry, group of industries or type of instrument.
8. | Securities Lending |
Each Fund may lend securities up to 331/3% of its total assets to qualified broker-dealers or institutional investors. The loans are secured at all times by cash, cash equivalents or U.S. government securities in an amount at least equal to the market value of the securities loaned, plus accrued interest and dividends, determined on a daily basis and adjusted accordingly. The value of the collateral held with respect to a loaned security may be temporarily more or less than the value of a security due to market fluctuation of securities values. With respect to each loan, if on any business day the aggregate market value of securities collateral plus cash collateral held is less than the aggregate market value of the securities which are subject to the loan, the borrower will be notified to provide additional collateral. The Funds will regain record ownership of loaned securities to exercise certain beneficial rights; however, the Funds may bear the risk of delay in recovery of, or even loss of rights in, the securities loaned should the borrower fail financially. In addition, a
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NOTES TO FINANCIAL STATEMENTS (continued)
December 31, 2010 (Unaudited)
Fund will bear the risk of loss of any cash collateral that it may invest. Each Fund receives compensation for lending its securities from interest or dividends earned on the cash, cash equivalents or U.S. government securities held as collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as lending agent. Proceeds collected by State Street on investment of cash collateral or any fee income is partially allocated to State Street as compensation for its lending services.
The market value of securities on loan as of December 31, 2010 and the value of the invested cash collateral are disclosed in the Statements of Assets and Liabilities. Securities lending income, as disclosed in the Funds’ Statements of Operations, represent the income earned from the investment of cash collateral, net of fee rebates paid to the borrower and net of fees paid to State Street as lending agent.
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OTHER INFORMATION
OTHER INFORMATION
December 31, 2010 (Unaudited)
Shareholder Expense Example
As a shareholder of a Fund, you incur two types of costs: (1) transaction costs which may include creation and redemption fees or brokerage charges and (2) ongoing costs, including management fees, trustee fees, and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a Fund and to compare these costs with the ongoing costs of investing in other mutual funds. It is based on an investment of $1,000 invested on July 1, 2010 and held for the six months ended December 31, 2010.
Actual Expenses
The first table below provides information about actual account values and actual expenses. You may use the information in this table, together with the amount you invested, to estimate the expenses that you incurred over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first table under the heading entitled “Expenses Paid During Period” to estimate the expenses attributable to your investment during this period.
Hypothetical Example for Comparison Purposes
The second table below provides information about hypothetical account values and hypothetical expenses based on a Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not a Fund’s actual return. Thus, you should not use the hypothetical account values and expenses to estimate the actual ending account balance or your expenses for the period. Rather, these figures are provided to enable you to compare the ongoing costs of investing in a Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. The Funds charge transaction fees at scheduled amounts ranging from $250 to $1,500 per Creation Unit to those persons creating or redeeming Creation Units. If you buy or sell the Funds’ shares in the secondary market, you will incur customary brokerage commissions and charges.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs, such as creation and redemption fees, or brokerage charges. Therefore, the second table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transaction costs were included, your costs would have been higher.
Beginning Account | Ending Account | Expenses Paid | ||||||||||||||
Annualized | Value | Value | During Period* | |||||||||||||
Actual | Expense Ratio | 7/1/10 | 12/31/10 | 7/1/10 to 12/31/10 | ||||||||||||
SPDR Barclays Capital 1-3 Month T-Bill ETF | 0.15 | % | $ | 1,000 | $ | 1,000.10 | $ | 0.76 | ||||||||
SPDR Barclays Capital TIPS ETF | 0.22 | 1,000 | 1,017.20 | 1.12 | ||||||||||||
SPDR Barclays Capital Intermediate Term Treasury ETF | 0.17 | 1,000 | 1,004.60 | 0.86 | ||||||||||||
SPDR Barclays Capital Long Term Treasury ETF | 0.15 | 1,000 | 965.60 | 0.74 | ||||||||||||
SPDR Barclays Capital Intermediate Term Corporate Bond ETF | 0.17 | 1,000 | 1,026.40 | 0.87 | ||||||||||||
SPDR Barclays Capital Long Term Corporate Bond ETF | 0.18 | 1,000 | 1,027.30 | 0.92 | ||||||||||||
SPDR Barclays Capital Convertible Securities ETF | 0.42 | 1,000 | 1,163.10 | 2.29 | ||||||||||||
SPDR Barclays Capital Mortgage Backed Bond ETF | 0.22 | 1,000 | 1,009.70 | 1.11 | ||||||||||||
SPDR Barclays Capital Aggregate Bond ETF | 0.16 | 1,000 | 1,012.30 | 0.81 | ||||||||||||
SPDR Nuveen Barclays Capital Municipal Bond ETF | 0.21 | 1,000 | 984.50 | 1.05 |
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SPDR SERIES TRUST
OTHER INFORMATION (continued)
OTHER INFORMATION (continued)
December 31, 2010 (Unaudited)
Beginning Account | Ending Account | Expenses Paid | ||||||||||||||
Annualized | Value | Value | During Period* | |||||||||||||
Actual | Expense Ratio | 7/1/10 | 12/31/10 | 7/1/10 to 12/31/10 | ||||||||||||
SPDR Nuveen Barclays Capital California Municipal Bond ETF | 0.20 | % | $ | 1,000 | $ | 968.40 | $ | 0.99 | ||||||||
SPDR Nuveen Barclays Capital New York Municipal Bond ETF | 0.20 | 1,000 | 979.80 | 1.00 | ||||||||||||
SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF | 0.20 | 1,000 | 1,002.70 | 1.01 | ||||||||||||
SPDR Nuveen S&P VRDO Municipal Bond ETF | 0.21 | 1,000 | 1,003.90 | 1.06 | ||||||||||||
SPDR Nuveen Barclays Capital Build America Bond ETF | 0.35 | 1,000 | 970.50 | 1.74 | ||||||||||||
SPDR DB International Government Inflation-Protected Bond ETF | 0.54 | 1,000 | 1,131.10 | 2.90 | ||||||||||||
SPDR Barclays Capital Short Term International Treasury Bond ETF | 0.38 | 1,000 | 1,097.80 | 2.01 | ||||||||||||
SPDR Barclays Capital International Treasury Bond ETF | 0.54 | 1,000 | 1,097.00 | 2.85 | ||||||||||||
SPDR Barclays Capital International Corporate Bond ETF | 0.55 | 1,000 | 1,095.40 | 2.90 | ||||||||||||
SPDR Barclays Capital High Yield Bond ETF | 0.42 | 1,000 | 1,110.60 | 2.23 | ||||||||||||
SPDR Barclays Capital Short Term Corporate Bond ETF | 0.13 | 1,000 | 1,020.40 | 0.66 |
Beginning Account | Ending Account | Expenses Paid | ||||||||||||||
Annualized | Value | Value | During Period* | |||||||||||||
Hypothetical | Expense Ratio | 7/1/10 | 12/31/10 | 7/1/10 to 12/31/10 | ||||||||||||
SPDR Barclays Capital 1-3 Month T-Bill ETF | 0.15 | % | $ | 1,000 | $ | 1,024.45 | $ | 0.77 | ||||||||
SPDR Barclays Capital TIPS ETF | 0.22 | 1,000 | 1,024.10 | 1.12 | ||||||||||||
SPDR Barclays Capital Intermediate Term Treasury ETF | 0.17 | 1,000 | 1,024.35 | 0.87 | ||||||||||||
SPDR Barclays Capital Long Term Treasury ETF | 0.15 | 1,000 | 1,024.45 | 0.77 | ||||||||||||
SPDR Barclays Capital Intermediate Term Corporate Bond ETF | 0.17 | 1,000 | 1,024.35 | 0.87 | ||||||||||||
SPDR Barclays Capital Long Term Corporate Bond ETF | 0.18 | 1,000 | 1,024.30 | 0.92 | ||||||||||||
SPDR Barclays Capital Convertible Securities ETF | 0.42 | 1,000 | 1,023.09 | 2.14 | ||||||||||||
SPDR Barclays Capital Mortgage Backed Bond ETF | 0.22 | 1,000 | 1,024.10 | 1.12 | ||||||||||||
SPDR Barclays Capital Aggregate Bond ETF | 0.16 | 1,000 | 1,024.40 | 0.82 | ||||||||||||
SPDR Nuveen Barclays Capital Municipal Bond ETF | 0.21 | 1,000 | 1,024.15 | 1.07 | ||||||||||||
SPDR Nuveen Barclays Capital California Municipal Bond ETF | 0.20 | 1,000 | 1,024.20 | 1.02 |
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SPDR SERIES TRUST
OTHER INFORMATION (continued)
OTHER INFORMATION (continued)
December 31, 2010 (Unaudited)
Beginning Account | Ending Account | Expenses Paid | ||||||||||||||
Annualized | Value | Value | During Period* | |||||||||||||
Hypothetical | Expense Ratio | 7/1/10 | 12/31/10 | 7/1/10 to 12/31/10 | ||||||||||||
SPDR Nuveen Barclays Capital New York Municipal Bond ETF | 0.20 | % | $ | 1,000 | $ | 1,024.20 | $ | 1.02 | ||||||||
SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF | 0.20 | 1,000 | 1,024.20 | 1.02 | ||||||||||||
SPDR Nuveen S&P VRDO Municipal Bond ETF | 0.21 | 1,000 | 1,024.15 | 1.07 | ||||||||||||
SPDR Nuveen Barclays Capital Build America Bond ETF | 0.35 | 1,000 | 1,023.44 | 1.79 | ||||||||||||
SPDR DB International Government Inflation-Protected Bond ETF | 0.54 | 1,000 | 1,022.48 | 2.75 | ||||||||||||
SPDR Barclays Capital Short Term International Treasury Bond ETF | 0.38 | 1,000 | 1,023.29 | 1.94 | ||||||||||||
SPDR Barclays Capital International Treasury Bond ETF | 0.54 | 1,000 | 1,022.48 | 2.75 | ||||||||||||
SPDR Barclays Capital International Corporate Bond ETF | 0.55 | 1,000 | 1,022.43 | 2.80 | ||||||||||||
SPDR Barclays Capital High Yield Bond ETF | 0.42 | 1,000 | 1,023.09 | 2.14 | ||||||||||||
SPDR Barclays Capital Short Term Corporate Bond ETF | 0.13 | 1,000 | 1,024.55 | 0.66 |
* | Expenses are equal to the Fund’s annualized net expense ratio multiplied by the average account value of the period, multiplied by the number of days in the most recent six month period, then divided by 365. |
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SPDR SERIES TRUST
OTHER INFORMATION (continued)
OTHER INFORMATION (continued)
December 31, 2010 (Unaudited)
Proxy Voting Policies and Procedures and Records
A description of the Trust’s proxy voting policies and procedures that are used by the Funds’ investment adviser to vote proxies relating to the Funds’ portfolio of securities are available (i) without charge, upon request by calling 1-866-787-2257 (toll free) or (ii) on the website of the Securities and Exchange Commission, at www.sec.gov.
Information regarding how proxies were voted relating to the Funds’ portfolio securities for the prior 12-months period ended June 30 is available by August 31 of each year by calling the same number above (toll free) and on the SEC’s website, at www.sec.gov, and on the Funds’ website at www.spdrs.com.
Quarterly Portfolio Schedule
The Funds file a complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Funds’ Forms N-Q are available on the SEC’s website at www.sec.gov and may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The information on the Form N-Q is available upon request, without charge, by calling 1-800-843-2639 (toll free) and on the Funds’ website at www.spdrs.com.
Approval of Advisory Agreement
At in-person meetings held during the six-month period ended December 31, 2010, the Board of Trustees of the Trust (the “Board”) evaluated proposals to continue the Investment Advisory Agreement with respect to the operational and non-operational series of the Trust (each, a “SPDR ETF” and collectively, the “SPDR ETFs”). The Trustees who are not “interested persons” of the Trust within the meaning of the Investment Company Act of 1940, as amended (the “Independent Trustees”) also met separately with their independent legal counsel to consider the Investment Advisory Agreement.
In evaluating the Investment Advisory Agreement, the Board drew on materials provided to them at their request by independent legal counsel, the Adviser and State Street Bank and Trust Company, the Trust’s Administrator, Transfer Agent, Custodian and Securities Lending Agent (“State Street”). In deciding whether to approve the Investment Advisory Agreement, the Board considered various factors, including (i) the nature, extent and quality of services provided by, or to be provided by, the Adviser with respect to the SPDR ETFs under the Investment Advisory Agreement, (ii) investment performance of the SPDR ETFs, (iii) costs to the Adviser of its services and profits realized by the Adviser from its relationship with the Trust, and (iv) the extent to which economies of scale would be realized if and as the SPDR ETFs grow and whether fee levels in the Investment Advisory Agreement reflect these economies of scale.
The Board considered the nature, extent and quality of services provided by, or to be provided by, the Adviser. In doing so, they relied on their prior experience with the Trust and materials provided prior to and at the meeting. The Board reviewed the Investment Advisory Agreement and the Adviser’s responsibilities for managing investment operations of the SPDR ETFs in accordance with each SPDR ETF’s investment objective, investment policies, and applicable legal and regulatory requirements. The Board appreciated the relatively unique nature of the SPDR ETFs, as exchange-traded funds, and the experience and expertise of the Adviser with exchange-traded funds. The Board considered the background and experience of the Adviser’s senior management, including those individuals responsible for portfolio management and compliance of the SPDR ETFs. The Board also considered the portfolio management resources, structures and practices, including those associated with monitoring and securing each SPDR ETF’s compliance with its investment objectives and policies and with applicable laws and regulations. The Board also considered information about the Adviser’s best execution procedures and overall investment management business, noting that the Adviser serves a wide range of clients across a broad spectrum of asset classes. The Board looked at the Adviser’s general knowledge of the investment business and that of its affiliates which make up State Street Global Advisors, with which the Adviser shares all of its senior personnel. The Board considered that the Adviser and its affiliates constitute one of the world’s largest investment management enterprises for indexed products generally and exchange-traded funds in particular. The Board considered the Adviser’s experience in managing fixed income exchange-traded funds. The Board then determined that the nature, extent and quality of services provided by the Adviser to the SPDR ETFs were necessary and appropriate.
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SPDR SERIES TRUST
OTHER INFORMATION (continued)
OTHER INFORMATION (continued)
December 31, 2010 (Unaudited)
The Board reviewed the SPDR ETFs’ performance, noting that the distinctive indexed investment objective of each of the SPDR ETFs made analysis of investment performance, in absolute terms, less of a priority than that which normally attaches to performance of actively-managed funds. The Board was more concerned with the extent to which each SPDR ETF achieved its objective as a passively managed index fund. The Board reviewed information regarding each SPDR ETF’s index tracking and tracking error, noting that each SPDR ETF satisfactorily tracked its benchmark index. The Board also discussed the tax efficiency of the SPDR ETFs. The Board then determined that the performance of each SPDR ETF was satisfactory.
The Board considered the profitability of the advisory arrangement with the SPDR ETFs to the Adviser, including data on the SPDR ETFs’ historical profitability to the Adviser. The Independent Trustees, through their counsel, had the opportunity to discuss, with representatives of the Adviser and State Street, methodologies used in computing costs that formed the bases of profitability calculations and determined that these methodologies were reasonable. The Board concluded that, to the extent that the Adviser’s relationships with the SPDR ETFs had been profitable, profitability was not excessive.
The Board considered whether the Adviser or its affiliates benefited in other ways from their relationship with the Trust, noting that the Adviser does not maintain soft-dollar arrangements in connection with the Trust’s brokerage transactions. The Board concluded that, to the extent that the Adviser or its affiliates derive benefits from their relationship with the Trust, those benefits are not so significant as to cause the Adviser’s fees with respect to the SPDR ETFs to be excessive.
The Board determined that the Adviser is likely to realize economies of scale in managing the SPDR ETFs as assets grow in size. The Board further determined that such economies of scale are currently shared with the SPDR ETFs by way of the relatively low advisory fee and unitary fee structure of the Trust, although the Board intends to continue to monitor fees as SPDR ETFs grow in size and assess whether fee breakpoints may be warranted.
The Board evaluated the SPDR ETFs’ unitary fee through review of comparative information with respect to fees paid by similar funds — i.e., exchange-traded funds tracking fixed income indexes. The Board reviewed the universe of similar exchange-traded funds for the SPDR ETFs based upon data from Lipper Analytical Services and related comparative information for similar exchange-traded funds. The Board also reviewed the historical expense ratios of the SPDR ETFs, estimated expense ratios of the new SPDR ETFs, and the unitary fee structure. The Board used a fund by fund analysis of the data. The Board concluded, based on the information presented, that each SPDR ETF’s fees were fair and reasonable in light of those of their direct competitors.
The Board, including the Independent Trustees voting separately, approved the Investment Advisory Agreement after weighing the foregoing factors, none of which was dispositive in itself and may have been weighed by each Trustee differently. The Board’s conclusions regarding the Investment Advisory Agreement were as follows: (a) the nature and extent of the services provided by, or expected to be provided by, the Adviser with respect to the SPDR ETFs were appropriate; (b) the performance and, more importantly, the index tracking, of each SPDR ETF had been satisfactory; (c) the Adviser’s fees for each SPDR ETF and the unitary fee, considered in relation to services provided or expected to be provided, were fair and reasonable; (d) profitability of the Trust’s relationship with the Adviser was not excessive; (e) any additional benefits to the Adviser or its affiliates were not of a magnitude to materially affect the Board’s conclusions; and (f) fees paid to the Adviser adequately shared the economies of scale with the SPDR ETFs by way of the relatively low fee structure of the Trust.
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The SPDR® Family of Exchange Traded Funds
The following is a list of SPDR ETFs being offered, along with their respective exchange trading symbols. Please call 1-866-787-2257 to obtain a prospectus for any SPDR ETF. The prospectus contains more complete information, including charges, expenses, investment objectives and risk factors that should be carefully considered to determine if the Fund(s) are an appropriate investment for you. Read the prospectus(es) carefully before investing. Investing involves risk, including possible loss of principal.
SPDR Series Trust
SPDR Dow Jones Total Market ETF (TMW)
SPDR Dow Jones Large Cap ETF (ELR)
SPDR S&P 500 Growth ETF (SPYG)
SPDR S&P 500 Value ETF (SPYV)
SPDR Dow Jones Mid Cap ETF (EMM)
SPDR S&P 400 Mid Cap Growth ETF (MDYG)
SPDR S&P 400 Mid Cap Value ETF (MDYV)
SPDR S&P 600 Small Cap ETF (SLY)
SPDR S&P 600 Small Cap Growth ETF (SLYG)
SPDR S&P 600 Small Cap Value ETF (SLYV)
SPDR DJ Global Titans ETF (DGT)
SPDR Dow Jones REIT ETF (RWR)
SPDR KBW Bank ETF (KBE)
SPDR KBW Capital Markets ETF (KCE)
SPDR KBW Insurance ETF (KIE)
SPDR KBW Mortgage Finance ETF(KME)
SPDR KBW Regional Banking ETF (KRE)
SPDR Morgan Stanley Technology ETF (MTK)
SPDR S&P Dividend ETF (SDY)
SPDR S&P Biotech ETF (XBI)
SPDR S&P Health Care Equipment ETF (XHE)
SPDR S&P Homebuilders ETF (XHB)
SPDR S&P Metals & Mining ETF (XME)
SPDR S&P Oil & Gas Equipment & Services ETF (XES)
SPDR S&P Oil & Gas Exploration & Production ETF (XOP)
SPDR S&P Pharmaceuticals ETF (XPH)
SPDR S&P Retail ETF (XRT)
SPDR S&P Semiconductor ETF (XSD)
SPDR S&P Telecom ETF (XTL)
SPDR S&P Transportation ETF (XTN)
SPDR Wells Fargo Preferred Stock ETF (PSK)
SPDR Barclays Capital 1-3 Month T-Bill ETF (BIL)
SPDR Barclays Capital TIPS ETF (IPE)
SPDR Barclays Capital Intermediate Term Treasury ETF (ITE)
SPDR Barclays Capital Long Term Treasury ETF (TLO)
SDPR Barclays Capital Short Term Corporate Bond ETF (SCPB)
SPDR Barclays Capital Intermediate Term Corporate Bond ETF (ITR)
SPDR Barclays Capital Long Term Corporate Bond ETF (LWC)
SPDR Barclays Capital Convertible Securities ETF (CWB)
SPDR Barclays Capital Mortgage Backed Bond ETF (MBG)
SPDR Barclays Capital Aggregate Bond ETF (LAG)
SPDR Nuveen Barclays Capital Municipal Bond ETF (TFI)
SPDR Nuveen Barclays Capital California Municipal Bond ETF (CXA)
SPDR Nuveen Barclays Capital New York Municipal Bond ETF (INY)
SPDR Nuveen Barclays Capital Short Term Municipal Bond ETF (SHM)
SPDR Nuveen S&P VRDO Municipal Bond ETF (VRD)
SPDR Nuveen Barclays Capital Build America Bond ETF
SPDR DB International Government Inflation-Protected Bond ETF (WIP)
SPDR Barclays Capital Short Term International Treasury Bond ETF (BWZ)
SPDR Barclays Capital International Treasury Bond ETF (BWX)
SPDR Barclays Capital International Corporate Bond ETF (IBND)
Table of Contents
SPDR Barclays Capital Emerging Markets Local Bond ETF (EBND)
SPDR Barclays Capital High Yield Bond ETF (JNK)
The Select Sectors SPDR Trust
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 Technology Select Sector SPDR Fund (XLK)
The Utilities Select Sector SPDR Fund (XLU)
SPDR Index Shares Funds
SPDR STOXX Europe 50 ETF (FEU)
SPDR EURO STOXX 50 ETF (FEZ)
SPDR S&P Emerging Asia Pacific ETF (GMF)
SPDR S&P Russia ETF (RBL)
SPDR S&P China ETF (GXC)
SPDR S&P Emerging Markets ETF (GMM)
SPDR S&P Emerging Markets Dividend ETF (EDIV)
SPDR S&P BRIC 40 ETF (BIK)
SPDR S&P Emerging Europe ETF (GUR)
SPDR S&P Emerging Latin America ETF GML)
SPDR S&P Emerging Middle East & Africa ETF (GAF)
SPDR S&P World ex-US ETF (GWL)
SPDR S&P International Small Cap ETF (GWX)
SPDR Dow Jones International Real Estate ETF (RWX)
SPDR FTSE/Macquarie Global Infrastructure 100 ETF (GII)
SPDR MSCI ACWI ex-US ETF (CWI)
SPDR Russell/Nomura PRIME Japan ETF (JPP)
SPDR Russell/Nomura Small Cap Japan ETF (JSC)
SPDR S&P International Dividend ETF (DWX)
SPDR S&P International Mid Cap ETF (MDD)
SPDR S&P Emerging Markets Small Cap ETF (EWX)
SPDR Dow Jones Global Real Estate ETF (RWO)
SPDR S&P Global Natural Resources ETF (GNR)
SPDR S&P International Consumer Discretionary Sector ETF (IPD)
SPDR S&P International Consumer Staples Sector ETF (IPS)
SPDR S&P International Energy Sector ETF (IPW)
SPDR S&P International Financial Sector ETF (IPF)
SPDR S&P International Health Care Sector ETF (IRY)
SPDR S&P International Industrial Sector ETF (IPN)
SPDR S&P International Materials Sector ETF (IRV)
SPDR S&P International Technology Sector ETF (IPK)
SPDR S&P International Telecommunications Sector ETF (IST)
SPDR S&P International Utilities Sector ETF (IPU)
SPDR Dow Jones Industrial Average ETF Trust (DIA)
SPDR S&P 500 ETF Trust (SPY)
State Street Global Markets, LLC, member FINRA, SIPC, is distributor for all investment portfolios of SPDR Series Trust and SPDR Index Shares Funds. ALPS Distributors, Inc., a registered broker-dealer, is distributor for SPDR S&P 500 ETF Trust (SPY) and SPDR Dow Jones Industrial Average ETF Trust (DIA), both unit investment trusts, and all investment portfolios of The Select Sector SPDR Trust.
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SPDR Series Trust
trustees
Bonny E. Boatman
Dwight D. Churchill
David M. Kelly
Frank Nesvet, Chairman
James E. Ross
Carl G. Verboncoeur
Bonny E. Boatman
Dwight D. Churchill
David M. Kelly
Frank Nesvet, Chairman
James E. Ross
Carl G. Verboncoeur
officers
James E. Ross, President
Anthony Rochte, Vice President
Ellen M. Needham, Vice President
Michael P. Riley, Vice President
Chad C. Hallett, Treasurer
Matthew W. Flaherty, Assistant Treasurer
Laura F. Healy, Assistant Treasurer
Ryan M. Louvar, Secretary
Mark E. Tuttle, Assistant Secretary
Cuan Coulter, Chief Compliance Officer (through 2/22/11)
Jacqueline Angell, Chief Compliance Officer (effective 2/22/11)
James E. Ross, President
Anthony Rochte, Vice President
Ellen M. Needham, Vice President
Michael P. Riley, Vice President
Chad C. Hallett, Treasurer
Matthew W. Flaherty, Assistant Treasurer
Laura F. Healy, Assistant Treasurer
Ryan M. Louvar, Secretary
Mark E. Tuttle, Assistant Secretary
Cuan Coulter, Chief Compliance Officer (through 2/22/11)
Jacqueline Angell, Chief Compliance Officer (effective 2/22/11)
investment manager
SSgA Funds Management, Inc.
State Street Financial Center
One Lincoln Street
Boston, MA 02111
SSgA Funds Management, Inc.
State Street Financial Center
One Lincoln Street
Boston, MA 02111
distributor
State Street Global Markets, LLC
One Lincoln Street
Boston, MA 02111
State Street Global Markets, LLC
One Lincoln Street
Boston, MA 02111
custodian, administrator and transfer agent
State Street Bank and Trust Company
One Lincoln Street
Boston, MA 02111
State Street Bank and Trust Company
One Lincoln Street
Boston, MA 02111
legal counsel
Morgan, Lewis and Bockius LLP
1111 Pennsylvania Avenue, NW
Washington, DC 20004
Morgan, Lewis and Bockius LLP
1111 Pennsylvania Avenue, NW
Washington, DC 20004
independent registered public accounting firm
Ernst & Young LLP
200 Clarendon Street
Boston, MA 02116
Ernst & Young LLP
200 Clarendon Street
Boston, MA 02116
Fund Shares are distributed by State Street Global Markets, LLC, a wholly-owned subsidiary of State Street Corporation. State Street Global Markets, LLC is a member of FINRA and SIPC.
The information contained in this report is intended for the general information of shareholders of the Trust. This report is not authorized for distribution to prospective investors unless preceded or accompanied by a current Trust prospectus which contains important information concerning the Trust. You may obtain a current prospectus and SAI from the Distributor by calling 1-866-787-2257 or visiting www.spdrs.com Please read the prospectus carefully before you invest.
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State Street Global Advisors
State Street Financial Center
One Lincoln Street
Boston, MA 02111
State Street Financial Center
One Lincoln Street
Boston, MA 02111
ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.
Bond funds contain interest rate risk (as interest rates rise bond prices usually fall); the risk of issuer default; and inflation risk.
In general, Fund shares can be expected to move up or down in value with the value of the applicable index. Although Fund shares may be bought and sold on the exchange through any brokerage account, Fund shares are not individually redeemable from the Fund. Investors may directly acquire shares of the Funds and tender them for redemption in Creation Unit Aggregations only. Please see the prospectus for more details.
“Barclays Capital” is a trademark of Barclays Capital, the investment banking division of Barclays Bank PLC (“Barclays Capital”) and is used by State Street Global Advisors under license. Barclays Capital compiles, maintains and owns rights in and to the Barclays U.S. Government Inflation-linked Bond Index. The SPDR Barclays Capital ETFs are not sponsored, endorsed, sold or promoted by Barclays Capital. Barclays Capital or one of its affiliated entities may act as an Authorized Participant and/or as an initial purchaser of shares of the SPDR Barclays Capital ETFs. Barclays Capital makes no representation regarding the advisability of investing in the SPDR Barclays Capital ETFs or use of any Barclays Index or any data included therein.
Barclays Capital is a trademark of Barclays Capital, the investment banking division of Barclays Bank PLC (“Barclays Capital”) and has been licensed for use in connection with the listing and trading of the SPDR Barclays Capital ETFs. The products are not sponsored by, endorsed, sold or promoted by Barclays Capital and Barclays Capital makes no representation regarding the advisability of investing in them.
“Deutsche Bank” and “DB Global Government ex-US Inflation-Linked Bond Capped IndexSM” are reprinted with permission. ©Copyright 2008 Deutsche Bank AG. All rights reserved. “Deutsche Bank” and DB Global Government ex-US Inflation-Linked Bond Capped IndexSM are service marks of Deutsche Bank AG and have been licensed for use for certain purposes by State Street Global Advisors. The SPDR DB International Government Inflation-Protected Bond ETF is not sponsored, endorsed, sold or promoted by Deutsche Bank AG. Deutsche Bank AG, as Index Provider, makes no representation, express or implied, regarding the advisability of investing in this product.
SPDR® is a registered trademark of Standard & Poor Financial Services LLC (“S&P”) and has been licensed for use by State Street Corporation. No financial product offered by State Street Corporation or its affiliates is sponsored, endorsed, sold or promoted by S&P or its Affiliates, and S&P and its affiliates make no representation, warranty or condition regarding the advisability of buying, selling or holding units/shares in such products. Further limitations and important information that could affect investors’ rights are described in the prospectus for the applicable product.
This information must be preceded or accompanied by a current prospectus or summary prospectus. Please read the prospectus carefully before you invest or send money. © 2010 State Street Corporation SPDR FISAR
IBG-3357
For more complete information, please call 866.787.2257 or visit www.spdrs.com today
Table of Contents
Item 2. Code of Ethics
Not applicable to the Registrant; this Form N-CSR is a Semi-Annual Report.
Item 3. Audit Committee Financial Expert
Not applicable to the Registrant; this Form N-CSR is a Semi-Annual Report.
Item 4. Principal Accountant Fees and Services
Not applicable to the Registrant; this Form N-CSR is a Semi-Annual Report.
Item 5. Audit Committee of Listed Registrants
Not applicable to the Registrant; this Form N-CSR is a Semi-Annual Report.
Item 6. Schedule of Investments
A Schedule of Investments for each series of the Registrant, except for those series set forth below, is included as a part of the semi-annual reports to shareholders filed under Item 1 of this Form N-CSR.
The Schedule of Investments for the following series of the Registrant is set forth below:
SPDR Dow Jones Total Market ETF
SPDR Dow Jones Large Cap ETF
SPDR S&P 500 Growth ETF
SPDR S&P 500 Value ETF
SPDR Dow Jones Mid Cap ETF
SPDR S&P 400 Mid Cap Growth ETF
SPDR S&P 400 Mid Cap Value ETF
SPDR S&P 600 Small Cap ETF
SPDR S&P 600 Small Cap Growth ETF
SPDR S&P 600 Small Cap Value ETF
SPDR Dow Jones Large Cap ETF
SPDR S&P 500 Growth ETF
SPDR S&P 500 Value ETF
SPDR Dow Jones Mid Cap ETF
SPDR S&P 400 Mid Cap Growth ETF
SPDR S&P 400 Mid Cap Value ETF
SPDR S&P 600 Small Cap ETF
SPDR S&P 600 Small Cap Growth ETF
SPDR S&P 600 Small Cap Value ETF
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SPDR Dow Jones Total Market ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.7% | ||||||||||||
AEROSPACE & DEFENSE — 2.3% | ||||||||||||
BE Aerospace, Inc. (a) | 2,913 | $ | 107,868 | |||||||||
Boeing Co. | 9,890 | 645,422 | ||||||||||
Ceradyne, Inc. (a) | 503 | 15,860 | ||||||||||
General Dynamics Corp. | 4,569 | 324,216 | ||||||||||
Goodrich Corp. | 2,640 | 232,505 | ||||||||||
Honeywell International, Inc. | 10,106 | 537,235 | ||||||||||
ITT Corp. | 3,379 | 176,080 | ||||||||||
L-3 Communications Holdings, Inc. | 2,084 | 146,901 | ||||||||||
Lockheed Martin Corp. | 4,703 | 328,787 | ||||||||||
Northrop Grumman Corp. | 5,171 | 334,977 | ||||||||||
Precision Castparts Corp. | 1,780 | 247,794 | ||||||||||
Raytheon Co. | 6,636 | 307,512 | ||||||||||
Rockwell Collins, Inc. | 3,301 | 192,316 | ||||||||||
United Technologies Corp. | 12,685 | 998,563 | ||||||||||
4,596,036 | ||||||||||||
AIR FREIGHT & LOGISTICS — 0.9% | ||||||||||||
C.H. Robinson Worldwide, Inc. (b) | 2,396 | 192,135 | ||||||||||
Expeditors International Washington, Inc. | 3,514 | 191,865 | ||||||||||
FedEx Corp. | 4,331 | 402,826 | ||||||||||
Forward Air Corp. (b) | 3,229 | 91,639 | ||||||||||
United Parcel Service, Inc. (Class B) | 11,069 | 803,388 | ||||||||||
UTI Worldwide, Inc. | 3,503 | 74,264 | ||||||||||
1,756,117 | ||||||||||||
AIRLINES — 0.2% | ||||||||||||
AMR Corp. (a) | 4,845 | 37,743 | ||||||||||
Delta Air Lines, Inc. (a) | 9,226 | 116,248 | ||||||||||
JetBlue Airways Corp. (a)(b) | 5,048 | 33,367 | ||||||||||
Southwest Airlines Co. | 10,951 | 142,144 | ||||||||||
United Continental Holdings, Inc. (a)(b) | 4,738 | 112,859 | ||||||||||
US Airways Group, Inc. (a) | 2,796 | 27,988 | ||||||||||
470,349 | ||||||||||||
AUTO COMPONENTS — 0.4% | ||||||||||||
American Axle & Manufacturing Holdings, Inc. (a)(b) | 734 | 9,439 | ||||||||||
BorgWarner, Inc. (a)(b) | 1,423 | 102,968 | ||||||||||
Gentex Corp. | 5,148 | 152,175 | ||||||||||
Johnson Controls, Inc. | 10,006 | 382,229 | ||||||||||
Modine Manufacturing Co. (a) | 3,164 | 49,042 | ||||||||||
The Goodyear Tire & Rubber Co. (a) | 5,022 | 59,511 | ||||||||||
755,364 | ||||||||||||
AUTOMOBILES — 0.5% | ||||||||||||
Ford Motor Co. (a) | 45,467 | 763,391 | ||||||||||
Harley-Davidson, Inc. | 4,505 | 156,188 | ||||||||||
Thor Industries, Inc. (b) | 525 | 17,829 | ||||||||||
937,408 | ||||||||||||
BEVERAGES — 2.0% | ||||||||||||
Central European Distribution Corp. (a) | 791 | 18,114 | ||||||||||
Coca-Cola Enterprises, Inc. | 5,728 | 143,372 | ||||||||||
Constellation Brands, Inc. (Class A) (a) | 4,087 | 90,527 | ||||||||||
Dr. Pepper Snapple Group, Inc. | 3,824 | 134,452 | ||||||||||
Hansen Natural Corp. (a) | 1,201 | 62,788 | ||||||||||
Molson Coors Brewing Co. (Class B) | 2,137 | 107,256 | ||||||||||
PepsiCo, Inc. | 22,485 | 1,468,945 | ||||||||||
The Coca-Cola Co. | 29,581 | 1,945,542 | ||||||||||
3,970,996 | ||||||||||||
BIOTECHNOLOGY — 1.7% | ||||||||||||
Acorda Therapeutics, Inc. (a) | 1,293 | 35,247 | ||||||||||
Alexion Pharmaceuticals, Inc. (a) | 1,225 | 98,674 | ||||||||||
Alkermes, Inc. (a) | 2,400 | 29,472 | ||||||||||
Alnylam Pharmaceuticals, Inc. (a) | 1,100 | 10,846 | ||||||||||
AMAG Pharmaceuticals, Inc. (a) | 302 | 5,466 | ||||||||||
Amgen, Inc. (a) | 15,468 | 849,193 | ||||||||||
Amylin Pharmaceuticals, Inc. (a) | 2,642 | 38,864 | ||||||||||
AVI BioPharma, Inc. (a)(b) | 4,942 | 10,477 | ||||||||||
Biogen Idec, Inc. (a) | 4,449 | 298,305 | ||||||||||
BioMarin Pharmaceutical, Inc. (a)(b) | 1,930 | 51,975 | ||||||||||
Celgene Corp. (a) | 7,059 | 417,469 | ||||||||||
Cephalon, Inc. (a)(b) | 1,332 | 82,211 | ||||||||||
Chelsea Therapeutics International, Inc. (a)(b) | 6,843 | 51,323 | ||||||||||
Cubist Pharmaceuticals, Inc. (a) | 1,305 | 27,927 | ||||||||||
Dendreon Corp. (a) | 4,012 | 140,099 | ||||||||||
Genzyme Corp. (a) | 3,833 | 272,910 | ||||||||||
Gilead Sciences, Inc. (a) | 13,667 | 495,292 | ||||||||||
Human Genome Sciences, Inc. (a)(b) | 6,273 | 149,862 | ||||||||||
Incyte Corp. (a)(b) | 1,468 | 24,310 | ||||||||||
InterMune, Inc. (a) | 575 | 20,930 | ||||||||||
Isis Pharmaceuticals, Inc. (a)(b) | 2,303 | 23,306 | ||||||||||
Martek Biosciences Corp. (a)(b) | 972 | 30,424 | ||||||||||
Medivation, Inc. (a) | 1,606 | 24,363 | ||||||||||
Myriad Genetics, Inc. (a) | 1,407 | 32,136 | ||||||||||
Neurocrine Biosciences, Inc. (a) | 1,966 | 15,020 | ||||||||||
Novavax, Inc. (a)(b) | 3,610 | 8,772 | ||||||||||
Onyx Pharmaceuticals, Inc. (a) | 1,139 | 41,995 | ||||||||||
PDL BioPharma, Inc. (b) | 3,574 | 22,266 | ||||||||||
Pharmasset, Inc. (a)(b) | 372 | 16,149 | ||||||||||
SIGA Technologies, Inc. (a)(b) | 7,582 | 106,148 | ||||||||||
Spectrum Pharmaceuticals, Inc. (a)(b) | 3,127 | 21,483 | ||||||||||
Talecris Biotherapeutics Holdings Corp. (a) | 314 | 7,316 | ||||||||||
Vertex Pharmaceuticals, Inc. (a) | 2,376 | 83,231 | ||||||||||
3,543,461 | ||||||||||||
BUILDING PRODUCTS — 0.1% | ||||||||||||
Masco Corp. | 5,983 | 75,745 | ||||||||||
Quanex Building Products Corp. | 566 | 10,737 | ||||||||||
Simpson Manufacturing Co., Inc. | 1,417 | 43,799 | ||||||||||
USG Corp. (a)(b) | 1,273 | 21,425 | ||||||||||
151,706 | ||||||||||||
CAPITAL MARKETS — 2.3% | ||||||||||||
Affiliated Managers Group, Inc. (a) | 674 | 66,874 | ||||||||||
Ameriprise Financial, Inc. | 3,719 | 214,028 | ||||||||||
BlackRock, Inc. | 364 | 69,371 | ||||||||||
Diamond Hill Investment Group, Inc. (b) | 124 | 8,970 | ||||||||||
E*TRADE Financial Corp. (a) | 3,066 | 49,056 |
See accompanying notes to financial statements.
1
Table of Contents
SPDR Dow Jones Total Market ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Eaton Vance Corp. | 1,922 | $ | 58,102 | |||||||||
Federated Investors, Inc. (Class B) (b) | 900 | 23,553 | ||||||||||
Franklin Resources, Inc. | 2,249 | 250,111 | ||||||||||
International Assets Holding Corp. (a)(b) | 2,660 | 62,776 | ||||||||||
Invesco, Ltd. | 6,533 | 157,184 | ||||||||||
Janus Capital Group, Inc. | 5,532 | 71,750 | ||||||||||
Jefferies Group, Inc. | 2,150 | 57,255 | ||||||||||
KBW, Inc. (b) | 780 | 21,778 | ||||||||||
Knight Capital Group, Inc. (Class A) (a) | 700 | 9,653 | ||||||||||
Legg Mason, Inc. | 3,252 | 117,950 | ||||||||||
Morgan Stanley | 17,123 | 465,917 | ||||||||||
Northern Trust Corp. | 3,465 | 191,996 | ||||||||||
Raymond James Financial, Inc. | 1,648 | 53,890 | ||||||||||
SEI Investments Co. | 5,256 | 125,040 | ||||||||||
State Street Corp. (c) | 7,405 | 343,148 | ||||||||||
T. Rowe Price Group, Inc. (b) | 3,913 | 252,545 | ||||||||||
TD Ameritrade Holding Corp. | 3,994 | 75,846 | ||||||||||
The Bank of New York Mellon Corp. | 16,566 | 500,293 | ||||||||||
The Charles Schwab Corp. | 14,666 | 250,935 | ||||||||||
The Goldman Sachs Group, Inc. | 6,399 | 1,076,056 | ||||||||||
Waddell & Reed Financial, Inc. (Class A) (b) | 2,937 | 103,647 | ||||||||||
4,677,724 | ||||||||||||
CHEMICALS — 2.0% | ||||||||||||
Air Products & Chemicals, Inc. | 2,856 | 259,753 | ||||||||||
Airgas, Inc. | 1,177 | 73,515 | ||||||||||
Ashland, Inc. | 1,618 | 82,291 | ||||||||||
Cabot Corp. | 1,860 | 70,029 | ||||||||||
Calgon Carbon Corp. (a)(b) | 1,599 | 24,177 | ||||||||||
Celanese Corp. (Series A) | 2,722 | 112,065 | ||||||||||
CF Industries Holdings, Inc. | 1,110 | 150,017 | ||||||||||
E. I. du Pont de Nemours & Co. | 13,469 | 671,834 | ||||||||||
Eastman Chemical Co. (b) | 1,909 | 160,509 | ||||||||||
Ecolab, Inc. | 3,607 | 181,865 | ||||||||||
FMC Corp. | 1,120 | 89,477 | ||||||||||
Monsanto Co. | 8,383 | 583,792 | ||||||||||
Nalco Holding Co. | 3,345 | 106,839 | ||||||||||
PPG Industries, Inc. | 2,911 | 244,728 | ||||||||||
Praxair, Inc. | 5,064 | 483,460 | ||||||||||
Sigma-Aldrich Corp. | 1,582 | 105,298 | ||||||||||
The Dow Chemical Co. | 15,539 | 530,501 | ||||||||||
The Mosaic Co. | 2,670 | 203,881 | ||||||||||
4,134,031 | ||||||||||||
COMMERCIAL BANKS — 2.9% | ||||||||||||
Arrow Financial Corp. (b) | 4,034 | 110,975 | ||||||||||
Bank of Hawaii Corp. (b) | 763 | 36,021 | ||||||||||
BB&T Corp. (b) | 9,723 | 255,618 | ||||||||||
CapitalSource, Inc. | 1,626 | 11,545 | ||||||||||
Cathay General Bancorp | 1,066 | 17,802 | ||||||||||
Centerstate Banks, Inc. (b) | 2,170 | 17,186 | ||||||||||
Columbia Banking System, Inc. (b) | 4,161 | 87,631 | ||||||||||
Comerica, Inc. (b) | 2,159 | 91,196 | ||||||||||
CVB Financial Corp. (b) | 6,536 | 56,667 | ||||||||||
East West Bancorp, Inc. | 1,888 | 36,911 | ||||||||||
F.N.B. Corp. (b) | 5,915 | 58,085 | ||||||||||
Farmers Capital Bank Corp. (a)(b) | 1,922 | 9,379 | ||||||||||
Fifth Third Bancorp | 11,366 | 166,853 | ||||||||||
First Bancorp- North Carolina (b) | 2,445 | 37,433 | ||||||||||
First Commonwealth Financial Corp. (b) | 5,807 | 41,114 | ||||||||||
First Horizon National Corp. (a)(b) | 3,690 | 43,464 | ||||||||||
First Merchants Corp. (b) | 4,677 | 41,438 | ||||||||||
Huntington Bancshares, Inc. | 6,097 | 41,886 | ||||||||||
Independent Bank Corp.- Massachusetts (b) | 3,031 | 81,989 | ||||||||||
International Bancshares Corp. (b) | 1,436 | 28,763 | ||||||||||
Keycorp | 6,301 | 55,764 | ||||||||||
Lakeland Financial Corp. | 4,270 | 91,634 | ||||||||||
M&T Bank Corp. | 1,246 | 108,464 | ||||||||||
Marshall & Ilsley Corp. | 3,173 | 21,957 | ||||||||||
National Penn Bancshares, Inc. | 6,440 | 51,713 | ||||||||||
Old National Bancorp | 1,247 | 14,827 | ||||||||||
PacWest Bancorp (b) | 1,748 | 37,372 | ||||||||||
PNC Financial Services Group, Inc. | 8,698 | 528,143 | ||||||||||
Popular, Inc. (a) | 4,825 | 15,151 | ||||||||||
Regions Financial Corp. | 12,135 | 84,945 | ||||||||||
Renasant Corp. | 5,148 | 87,053 | ||||||||||
Sandy Spring Bancorp, Inc. (b) | 3,273 | 60,321 | ||||||||||
Simmons First National Corp. (b) | 3,150 | 89,775 | ||||||||||
StellarOne Corp. | 5,428 | 78,923 | ||||||||||
SunTrust Banks, Inc. | 7,480 | 220,735 | ||||||||||
Susquehanna Bancshares, Inc. | 5,631 | 54,508 | ||||||||||
Trustmark Corp. (b) | 1,189 | 29,535 | ||||||||||
U.S. Bancorp | 25,261 | 681,289 | ||||||||||
Umpqua Holdings Corp. (b) | 4,984 | 60,705 | ||||||||||
United Bankshares, Inc. (b) | 917 | 26,777 | ||||||||||
United Community Banks, Inc. (a)(b) | 3,658 | 7,133 | ||||||||||
Wells Fargo & Co. | 72,115 | 2,234,844 | ||||||||||
Zions Bancorporation (b) | 3,087 | 74,798 | ||||||||||
5,988,322 | ||||||||||||
COMMERCIAL SERVICES & SUPPLIES — 0.6% | ||||||||||||
Avery Dennison Corp. | 2,332 | 98,737 | ||||||||||
Cintas Corp. | 3,200 | 89,472 | ||||||||||
Courier Corp. (b) | 2,765 | 42,913 | ||||||||||
Covanta Holding Corp. | 2,272 | 39,056 | ||||||||||
Ennis, Inc. | 5,202 | 88,954 | ||||||||||
Herman Miller, Inc. (b) | 3,007 | 76,077 | ||||||||||
Iron Mountain, Inc. | 3,992 | 99,840 | ||||||||||
Kimball International, Inc. (Class B) | 5,491 | 37,888 | ||||||||||
Pitney Bowes, Inc. (b) | 3,857 | 93,262 | ||||||||||
R.R. Donnelley & Sons Co. | 4,891 | 85,446 | ||||||||||
Republic Services, Inc. | 4,161 | 124,247 | ||||||||||
Stericycle, Inc. (a) | 1,100 | 89,012 | ||||||||||
Waste Connections, Inc. (b) | 2,213 | 60,910 | ||||||||||
Waste Management, Inc. (b) | 7,271 | 268,082 | ||||||||||
1,293,896 | ||||||||||||
COMMUNICATIONS EQUIPMENT — 2.3% | ||||||||||||
Arris Group, Inc. (a) | 3,933 | 44,128 | ||||||||||
Brocade Communications Systems, Inc. (a) | 4,156 | 21,985 | ||||||||||
Ciena Corp. (a)(b) | 4,601 | 96,851 | ||||||||||
Cisco Systems, Inc. (a) | 85,246 | 1,724,527 |
See accompanying notes to financial statements.
2
Table of Contents
SPDR Dow Jones Total Market ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
CommScope, Inc. (a) | 2,066 | $ | 64,501 | |||||||||
Comtech Telecommunications Corp. | 789 | 21,879 | ||||||||||
EchoStar Corp. (Class A) (a) | 947 | 23,647 | ||||||||||
Emulex Corp. (a) | 561 | 6,541 | ||||||||||
F5 Networks, Inc. (a) | 1,495 | 194,589 | ||||||||||
Finisar Corp. (a)(b) | 920 | 27,315 | ||||||||||
Harmonic, Inc. (a) | 2,186 | 18,734 | ||||||||||
Harris Corp. | 2,777 | 125,798 | ||||||||||
InterDigital, Inc. (a)(b) | 1,172 | 48,802 | ||||||||||
JDS Uniphase Corp. (a) | 5,323 | 77,077 | ||||||||||
Juniper Networks, Inc. (a) | 8,879 | 327,813 | ||||||||||
Motorola, Inc. (a) | 33,753 | 306,140 | ||||||||||
Plantronics, Inc. | 763 | 28,399 | ||||||||||
Polycom, Inc. (a) | 1,777 | 69,267 | ||||||||||
QUALCOMM, Inc. | 24,201 | 1,197,707 | ||||||||||
Riverbed Technology, Inc. (a) | 2,868 | 100,868 | ||||||||||
Tellabs, Inc. | 9,748 | 66,091 | ||||||||||
4,592,659 | ||||||||||||
COMPUTERS & PERIPHERALS — 4.0% | ||||||||||||
Apple, Inc. (a) | 13,218 | 4,263,598 | ||||||||||
Avid Technology, Inc. (a)(b) | 1,277 | 22,296 | ||||||||||
Dell, Inc. (a) | 26,461 | 358,547 | ||||||||||
EMC Corp. (a) | 30,282 | 693,458 | ||||||||||
Hewlett-Packard Co. | 36,065 | 1,518,336 | ||||||||||
Icad, Inc. (a)(b) | 6,844 | 9,308 | ||||||||||
Lexmark International, Inc. (Class A) (a) | 1,617 | 56,304 | ||||||||||
NCR Corp. (a) | 3,559 | 54,702 | ||||||||||
NetApp, Inc. (a) | 6,630 | 364,385 | ||||||||||
Novatel Wireless, Inc. (a)(b) | 1,415 | 13,513 | ||||||||||
QLogic Corp. (a) | 4,441 | 75,586 | ||||||||||
SanDisk Corp. (a) | 5,167 | 257,627 | ||||||||||
Seagate Technology (a) | 7,745 | 116,407 | ||||||||||
Teradata Corp. (a) | 3,545 | 145,912 | ||||||||||
Western Digital Corp. (a) | 4,437 | 150,414 | ||||||||||
8,100,393 | ||||||||||||
CONSTRUCTION & ENGINEERING — 0.3% | ||||||||||||
Aecom Technology Corp. (a) | 1,299 | 36,333 | ||||||||||
EMCOR Group, Inc. (a)(b) | 1,262 | 36,573 | ||||||||||
Fluor Corp. | 2,918 | 193,347 | ||||||||||
Jacobs Engineering Group, Inc. (a) | 1,924 | 88,215 | ||||||||||
KBR, Inc. | 2,386 | 72,701 | ||||||||||
Quanta Services, Inc. (a) | 2,841 | 56,593 | ||||||||||
The Shaw Group, Inc. (a) | 1,372 | 46,963 | ||||||||||
URS Corp. (a) | 1,221 | 50,806 | ||||||||||
581,531 | ||||||||||||
CONSTRUCTION MATERIALS — 0.1% | ||||||||||||
Eagle Materials, Inc. (b) | 1,264 | 35,708 | ||||||||||
Martin Marietta Materials, Inc. (b) | 902 | 83,201 | ||||||||||
Vulcan Materials Co. (b) | 1,890 | 83,840 | ||||||||||
202,749 | ||||||||||||
CONSUMER FINANCE — 0.6% | ||||||||||||
American Express Co. | 16,219 | 696,120 | ||||||||||
Capital One Financial Corp. | 6,994 | 297,665 | ||||||||||
Discover Financial Services | 6,978 | 129,302 | ||||||||||
SLM Corp. (a) | 7,668 | 96,540 | ||||||||||
1,219,627 | ||||||||||||
CONTAINERS & PACKAGING — 0.2% | ||||||||||||
Crown Holdings, Inc. (a) | 3,972 | 132,585 | ||||||||||
Owens-Illinois, Inc. (a) | 3,266 | 100,266 | ||||||||||
Sealed Air Corp. | 4,448 | 113,202 | ||||||||||
Temple-Inland, Inc. | 2,218 | 47,110 | ||||||||||
393,163 | ||||||||||||
DISTRIBUTORS — 0.1% | ||||||||||||
Genuine Parts Co. | 1,446 | 74,237 | ||||||||||
LKQ Corp. (a) | 2,765 | 62,821 | ||||||||||
137,058 | ||||||||||||
DIVERSIFIED CONSUMER SERVICES — 0.3% | ||||||||||||
Apollo Group, Inc. (a) | 2,265 | 89,445 | ||||||||||
Capella Education Co. (a) | 700 | 46,606 | ||||||||||
Career Education Corp. (a) | 2,487 | 51,555 | ||||||||||
Corinthian Colleges, Inc. (a)(b) | 1,908 | 9,941 | ||||||||||
DeVry, Inc. | 967 | 46,397 | ||||||||||
H&R Block, Inc. (b) | 4,848 | 57,740 | ||||||||||
ITT Educational Services, Inc. (a)(b) | 779 | 49,614 | ||||||||||
Service Corp. International | 10,334 | 85,255 | ||||||||||
Sotheby’s | 1,042 | 46,890 | ||||||||||
Strayer Education, Inc. (b) | 272 | 41,404 | ||||||||||
524,847 | ||||||||||||
DIVERSIFIED FINANCIAL SERVICES — 3.5% | ||||||||||||
Bank of America Corp. | 148,833 | 1,985,432 | ||||||||||
CIT Group, Inc. (a) | 2,961 | 139,463 | ||||||||||
Citigroup, Inc. (a) | 313,139 | 1,481,148 | ||||||||||
CME Group, Inc. | 1,028 | 330,759 | ||||||||||
Intercontinental Exchange, Inc. (a) | 1,247 | 148,580 | ||||||||||
JPMorgan Chase & Co. | 59,229 | 2,512,494 | ||||||||||
Leucadia National Corp. | 3,818 | 111,409 | ||||||||||
Medallion Financial Corp. | 984 | 8,069 | ||||||||||
Moody’s Corp. (b) | 3,639 | 96,579 | ||||||||||
MSCI, Inc. (Class A) (a) | 1,599 | 62,297 | ||||||||||
NYSE Euronext | 4,980 | 149,301 | ||||||||||
PHH Corp. (a)(b) | 1,029 | 23,821 | ||||||||||
The NASDAQ OMX Group, Inc. (a) | 3,003 | 71,201 | ||||||||||
7,120,553 | ||||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 2.4% | ||||||||||||
AT&T, Inc. | 86,335 | 2,536,522 | ||||||||||
CenturyLink, Inc. (b) | 4,560 | 210,535 | ||||||||||
Cogent Communications Group, Inc. (a) | 2,660 | 37,612 | ||||||||||
Frontier Communications Corp. | 18,961 | 184,490 | ||||||||||
Level 3 Communications, Inc. (a) | 13,311 | 13,045 | ||||||||||
Qwest Communications International, Inc. | 25,764 | 196,064 | ||||||||||
SureWest Communications (a) | 2,707 | 28,965 | ||||||||||
tw telecom, inc. (a) | 3,552 | 60,562 | ||||||||||
Verizon Communications, Inc. | 40,833 | 1,461,005 | ||||||||||
Windstream Corp. | 7,972 | 111,130 | ||||||||||
4,839,930 | ||||||||||||
ELECTRIC UTILITIES — 0.2% | ||||||||||||
Central Vermont Public Service Corp. | 4,376 | 95,659 | ||||||||||
Hawaiian Electric Industries, Inc. (b) | 210 | 4,786 |
See accompanying notes to financial statements.
3
Table of Contents
SPDR Dow Jones Total Market ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
MGE Energy, Inc. (b) | 3,005 | $ | 128,494 | |||||||||
PNM Resources, Inc. | 4,260 | 55,465 | ||||||||||
Unitil Corp. (b) | 2,401 | 54,599 | ||||||||||
339,003 | ||||||||||||
ELECTRICAL EQUIPMENT — 0.7% | ||||||||||||
Babcock & Wilcox Co. (a) | 2,209 | 56,528 | ||||||||||
Capstone Turbine Corp. (a)(b) | 8,506 | 8,164 | ||||||||||
Cooper Industries PLC | 950 | 55,376 | ||||||||||
Emerson Electric Co. | 11,510 | 658,027 | ||||||||||
General Cable Corp. (a) | 1,608 | 56,425 | ||||||||||
GrafTech International, Ltd. (a) | 2,604 | 51,663 | ||||||||||
Hubbell, Inc. (Class B) | 2,034 | 122,304 | ||||||||||
PowerSecure International, Inc. (a) | 3,045 | 23,690 | ||||||||||
Rockwell Automation, Inc. | 2,717 | 194,836 | ||||||||||
Roper Industries, Inc. (b) | 2,293 | 175,254 | ||||||||||
1,402,267 | ||||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 1.0% | ||||||||||||
Agilent Technologies, Inc. (a) | 6,528 | 270,455 | ||||||||||
Amphenol Corp. (Class A) | 3,610 | 190,536 | ||||||||||
Arrow Electronics, Inc. (a) | 3,472 | 118,916 | ||||||||||
Avnet, Inc. (a) | 3,994 | 131,922 | ||||||||||
Benchmark Electronics, Inc. (a) | 2,935 | 53,300 | ||||||||||
Corning, Inc. | 22,863 | 441,713 | ||||||||||
Dolby Laboratories, Inc. (Class A) (a) | 1,054 | 70,302 | ||||||||||
FLIR Systems, Inc. (a) | 2,537 | 75,476 | ||||||||||
Itron, Inc. (a) | 657 | 36,431 | ||||||||||
Jabil Circuit, Inc. | 3,922 | 78,793 | ||||||||||
L-1 Identity Solutions, Inc. (a)(b) | 2,217 | 26,404 | ||||||||||
Lightpath Technologies, Inc. (Class A) (a)(b) | 7,796 | 14,189 | ||||||||||
Molex, Inc. (b) | 3,727 | 84,677 | ||||||||||
National Instruments Corp. | 1,463 | 55,067 | ||||||||||
Power-One, Inc. (a)(b) | 1,258 | 12,832 | ||||||||||
Sanmina-SCI Corp. (a) | 2,372 | 27,230 | ||||||||||
Tech Data Corp. (a) | 2,534 | 111,547 | ||||||||||
Trimble Navigation, Ltd. (a) | 3,558 | 142,071 | ||||||||||
Tyco Electronics, Ltd. | 2,794 | 98,907 | ||||||||||
Vishay Intertechnology, Inc. (a) | 5,567 | 81,723 | ||||||||||
Vishay Precision Group, Inc. (a) | 396 | 7,461 | ||||||||||
2,129,952 | ||||||||||||
ENERGY EQUIPMENT & SERVICES — 2.3% | ||||||||||||
Baker Hughes, Inc. | 7,365 | 421,057 | ||||||||||
Cameron International Corp. (a) | 3,810 | 193,281 | ||||||||||
Complete Production Services, Inc. (a) | 944 | 27,895 | ||||||||||
Diamond Offshore Drilling, Inc. | 763 | 51,022 | ||||||||||
Dresser-Rand Group, Inc. (a) | 204 | 8,688 | ||||||||||
Exterran Holdings, Inc. (a) | 1,886 | 45,170 | ||||||||||
FMC Technologies, Inc. (a) | 2,007 | 178,442 | ||||||||||
Halliburton Co. | 14,447 | 589,871 | ||||||||||
Helix Energy Solutions Group, Inc. (a) | 758 | 9,202 | ||||||||||
Helmerich & Payne, Inc. | 1,956 | 94,827 | ||||||||||
Nabors Industries, Ltd. (a) | 5,498 | 128,983 | ||||||||||
National-Oilwell Varco, Inc. | 7,141 | 480,232 | ||||||||||
Noble Corp. | 1,369 | 48,969 | ||||||||||
Oceaneering International, Inc. (a) | 204 | 15,021 | ||||||||||
Patterson-UTI Energy, Inc. | 4,501 | 96,997 | ||||||||||
Pride International, Inc. (a) | 3,312 | 109,296 | ||||||||||
Rowan Cos., Inc. (a) | 3,620 | 126,374 | ||||||||||
Schlumberger, Ltd. | 20,843 | 1,740,391 | ||||||||||
Superior Energy Services, Inc. (a) | 3,566 | 124,774 | ||||||||||
TGC Industries, Inc. (a)(b) | 5,694 | 21,637 | ||||||||||
Tidewater, Inc. (b) | 1,088 | 58,578 | ||||||||||
Weatherford International, Ltd. (a) | 5,225 | 119,130 | ||||||||||
4,689,837 | ||||||||||||
FOOD & STAPLES RETAILING — 2.0% | ||||||||||||
Costco Wholesale Corp. | 6,614 | 477,597 | ||||||||||
CVS Caremark Corp. | 22,117 | 769,008 | ||||||||||
Safeway, Inc. (b) | 7,071 | 159,027 | ||||||||||
SUPERVALU, Inc. (b) | 4,000 | 38,520 | ||||||||||
Sysco Corp. | 9,611 | 282,563 | ||||||||||
The Kroger Co. | 8,835 | 197,550 | ||||||||||
Wal-Mart Stores, Inc. | 27,272 | 1,470,779 | ||||||||||
Walgreen Co. | 13,858 | 539,908 | ||||||||||
Whole Foods Market, Inc. (a)(b) | 2,215 | 112,057 | ||||||||||
4,047,009 | ||||||||||||
FOOD PRODUCTS — 1.7% | ||||||||||||
Archer-Daniels-Midland Co. | 8,941 | 268,945 | ||||||||||
Bunge, Ltd. | 2,195 | 143,816 | ||||||||||
Campbell Soup Co. (b) | 4,913 | 170,727 | ||||||||||
ConAgra Foods, Inc. | 8,864 | 200,149 | ||||||||||
Dean Foods Co. (a) | 3,483 | 30,790 | ||||||||||
Del Monte Foods Co. | 8,841 | 166,211 | ||||||||||
Flowers Foods, Inc. (b) | 3,223 | 86,731 | ||||||||||
General Mills, Inc. | 10,681 | 380,137 | ||||||||||
H.J. Heinz Co. | 4,618 | 228,406 | ||||||||||
Kellogg Co. | 3,167 | 161,770 | ||||||||||
Kraft Foods, Inc. (Class A) | 21,137 | 666,027 | ||||||||||
McCormick & Co., Inc. (b) | 1,711 | 79,613 | ||||||||||
Mead Johnson Nutrition Co. | 2,961 | 184,322 | ||||||||||
Sanderson Farms, Inc. (b) | 178 | 6,969 | ||||||||||
Sara Lee Corp. | 12,664 | 221,747 | ||||||||||
Smithfield Foods, Inc. (a) | 2,452 | 50,585 | ||||||||||
The Hershey Co. | 2,685 | 126,598 | ||||||||||
The J.M. Smucker Co. | 1,519 | 99,722 | ||||||||||
TreeHouse Foods, Inc. (a)(b) | 1,436 | 73,365 | ||||||||||
Tyson Foods, Inc. (Class A) | 5,734 | 98,739 | ||||||||||
3,445,369 | ||||||||||||
GAS UTILITIES — 0.1% | ||||||||||||
Chesapeake Utilities Corp. (b) | 3,703 | 153,749 | ||||||||||
Delta Natural Gas Co., Inc. (b) | 248 | 7,781 | ||||||||||
Gas Natural, Inc. (b) | 490 | 5,140 | ||||||||||
Questar Corp. | 2,283 | 39,747 | ||||||||||
206,417 | ||||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 2.0% | ||||||||||||
ABIOMED, Inc. (a) | 1,798 | 17,279 | ||||||||||
Alere, Inc. (a)(b) | 1,712 | 62,659 | ||||||||||
American Medical Systems Holdings, Inc. (a)(b) | 3,500 | 66,010 | ||||||||||
Angeion Corp. (a)(b) | 3,230 | 17,119 | ||||||||||
Baxter International, Inc. | 9,150 | 463,173 |
See accompanying notes to financial statements.
4
Table of Contents
SPDR Dow Jones Total Market ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Becton, Dickinson & Co. | 3,751 | $ | 317,034 | |||||||||
Boston Scientific Corp. (a) | 21,158 | 160,166 | ||||||||||
C.R. Bard, Inc. (b) | 1,964 | 180,236 | ||||||||||
CareFusion Corp. (a) | 2,910 | 74,787 | ||||||||||
Covidien PLC | 3,170 | 144,742 | ||||||||||
DENTSPLY International, Inc. | 1,839 | 62,839 | ||||||||||
Edwards Lifesciences Corp. (a) | 2,995 | 242,116 | ||||||||||
Gen-Probe, Inc. (a)(b) | 918 | 53,565 | ||||||||||
Hologic, Inc. (a) | 5,402 | 101,666 | ||||||||||
Hospira, Inc. (a) | 3,287 | 183,053 | ||||||||||
Immucor, Inc. (a) | 1,484 | 29,428 | ||||||||||
Intuitive Surgical, Inc. (a)(b) | 517 | 133,257 | ||||||||||
Kinetic Concepts, Inc. (a)(b) | 1,363 | 57,082 | ||||||||||
MAKO Surgical Corp. (a) | 612 | 9,315 | ||||||||||
Masimo Corp. (b) | 1,201 | 34,913 | ||||||||||
Medtronic, Inc. | 17,177 | 637,095 | ||||||||||
NuVasive, Inc. (a) | 874 | 22,418 | ||||||||||
ResMed, Inc. (a)(b) | 2,416 | 83,690 | ||||||||||
St. Jude Medical, Inc. (a) | 5,388 | 230,337 | ||||||||||
Stryker Corp. | 4,201 | 225,594 | ||||||||||
Thoratec Corp. (a)(b) | 1,062 | 30,076 | ||||||||||
Varian Medical Systems, Inc. (a) | 2,437 | 168,835 | ||||||||||
Vascular Solutions, Inc. (a)(b) | 1,108 | 12,986 | ||||||||||
Zimmer Holdings, Inc. (a) | 3,342 | 179,399 | ||||||||||
4,000,869 | ||||||||||||
HEALTH CARE PROVIDERS & SERVICES — 2.2% | ||||||||||||
Aetna, Inc. | 6,667 | 203,410 | ||||||||||
Amedisys, Inc. (a)(b) | 715 | 23,952 | ||||||||||
AmerisourceBergen Corp. | 4,077 | 139,107 | ||||||||||
athenahealth, Inc. (a) | 700 | 28,686 | ||||||||||
Cardinal Health, Inc. | 5,820 | 222,964 | ||||||||||
CIGNA Corp. | 4,834 | 177,214 | ||||||||||
Community Health Systems, Inc. (a) | 1,000 | 37,370 | ||||||||||
Coventry Health Care, Inc. (a) | 2,866 | 75,662 | ||||||||||
DaVita, Inc. (a) | 2,149 | 149,334 | ||||||||||
Express Scripts, Inc. (Class A) (a) | 7,401 | 400,024 | ||||||||||
Health Management Associates, Inc. (Class A) (a) | 4,416 | 42,129 | ||||||||||
Health Net, Inc. (a) | 2,876 | 78,486 | ||||||||||
HEALTHSOUTH Corp. (a)(b) | 2,969 | 61,488 | ||||||||||
Healthways, Inc. (a) | 382 | 4,263 | ||||||||||
Henry Schein, Inc. (a)(b) | 2,441 | 149,853 | ||||||||||
Humana, Inc. (a) | 3,002 | 164,329 | ||||||||||
Laboratory Corp. of America Holdings (a)(b) | 1,553 | 136,540 | ||||||||||
Lincare Holdings, Inc. | 3,538 | 94,925 | ||||||||||
McKesson Corp. | 4,713 | 331,701 | ||||||||||
Medco Health Solutions, Inc. (a) | 7,485 | 458,606 | ||||||||||
Omnicare, Inc. | 2,476 | 62,866 | ||||||||||
Patterson Cos., Inc. | 2,479 | 75,932 | ||||||||||
PSS World Medical, Inc. (a)(b) | 2,246 | 50,760 | ||||||||||
Quest Diagnostics, Inc. | 2,015 | 108,750 | ||||||||||
Tenet Healthcare Corp. (a) | 9,036 | 60,451 | ||||||||||
UnitedHealth Group, Inc. | 17,526 | 632,864 | ||||||||||
VCA Antech, Inc. (a)(b) | 2,614 | 60,880 | ||||||||||
WellCare Health Plans, Inc. (a) | 336 | 10,154 | ||||||||||
WellPoint, Inc. (a) | 7,678 | 436,571 | ||||||||||
4,479,271 | ||||||||||||
HEALTH CARE TECHNOLOGY — 0.0% (d) | ||||||||||||
Transcend Services, Inc. (a) | 372 | 7,287 | ||||||||||
HOTELS, RESTAURANTS & LEISURE — 2.1% | ||||||||||||
Biglari Holdings, Inc. (a)(b) | 198 | 81,222 | ||||||||||
Bob Evans Farms, Inc. | 4,122 | 135,861 | ||||||||||
Brinker International, Inc. | 2,174 | 45,393 | ||||||||||
Carnival Corp. | 6,284 | 289,755 | ||||||||||
Darden Restaurants, Inc. | 2,654 | 123,252 | ||||||||||
Gaylord Entertainment Co. (a) | 566 | 20,342 | ||||||||||
International Game Technology (b) | 6,060 | 107,201 | ||||||||||
Interval Leisure Group, Inc. (a) | 850 | 13,719 | ||||||||||
Las Vegas Sands Corp. (a) | 6,940 | 318,893 | ||||||||||
Marriott International, Inc. (Class A) (b) | 6,050 | 251,317 | ||||||||||
McDonald’s Corp. | 14,617 | 1,122,001 | ||||||||||
MGM MIRAGE, Inc. (a)(b) | 4,121 | 61,197 | ||||||||||
Panera Bread Co. (Class A) (a) | 682 | 69,025 | ||||||||||
Penn National Gaming, Inc. (a) | 1,976 | 69,456 | ||||||||||
Royal Caribbean Cruises, Ltd. (a) | 1,853 | 87,091 | ||||||||||
Scientific Games Corp. (Class A) (a)(b) | 3,010 | 29,980 | ||||||||||
Starbucks Corp. | 11,017 | 353,976 | ||||||||||
Starwood Hotels & Resorts Worldwide, Inc. | 3,618 | 219,902 | ||||||||||
The Cheesecake Factory, Inc. (a)(b) | 3,125 | 95,813 | ||||||||||
Wendy’s/Arby’s Group, Inc. (Class A) | 8,850 | 40,887 | ||||||||||
Wyndham Worldwide Corp. | 5,526 | 165,559 | ||||||||||
Wynn Resorts, Ltd. | 1,812 | 188,158 | ||||||||||
Yum! Brands, Inc. | 7,954 | 390,144 | ||||||||||
4,280,144 | ||||||||||||
HOUSEHOLD DURABLES — 0.7% | ||||||||||||
American Greetings Corp. (Class A) (b) | 3,158 | 69,981 | ||||||||||
Bassett Furniture Industries, Inc. (a) | 5,063 | 21,265 | ||||||||||
Brookfield Homes Corp. (a)(b) | 210 | 1,974 | ||||||||||
D.R. Horton, Inc. | 5,389 | 64,291 | ||||||||||
Fortune Brands, Inc. | 2,262 | 136,285 | ||||||||||
Garmin, Ltd. (b) | 2,560 | 79,334 | ||||||||||
Harman International Industries, Inc. (a) | 1,663 | 76,997 | ||||||||||
KB HOME (b) | 2,970 | 40,065 | ||||||||||
Leggett & Platt, Inc. | 4,324 | 98,414 | ||||||||||
Lennar Corp. (Class A) | 3,608 | 67,650 | ||||||||||
Mohawk Industries, Inc. (a) | 763 | 43,308 | ||||||||||
National Presto Industries, Inc. (b) | 676 | 87,887 | ||||||||||
Newell Rubbermaid, Inc. | 5,916 | 107,553 | ||||||||||
NVR, Inc. (a)(b) | 129 | 89,142 | ||||||||||
Pulte Group, Inc. (a)(b) | 7,886 | 59,303 | ||||||||||
Ryland Group, Inc. (b) | 1,235 | 21,032 | ||||||||||
Stanley Black & Decker, Inc. | 1,933 | 129,260 | ||||||||||
Toll Brothers, Inc. (a) | 2,491 | 47,329 | ||||||||||
Whirlpool Corp. (b) | 1,365 | 121,253 | ||||||||||
1,362,323 | ||||||||||||
HOUSEHOLD PRODUCTS — 1.9% | ||||||||||||
Church & Dwight Co., Inc. (b) | 2,175 | 150,118 | ||||||||||
Colgate-Palmolive Co. | 7,117 | 571,993 | ||||||||||
Energizer Holdings, Inc. (a) | 1,293 | 94,260 |
See accompanying notes to financial statements.
5
Table of Contents
SPDR Dow Jones Total Market ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Kimberly-Clark Corp. | 5,447 | $ | 343,379 | |||||||||
Procter & Gamble Co. | 41,182 | 2,649,238 | ||||||||||
The Clorox Co. | 2,020 | 127,826 | ||||||||||
3,936,814 | ||||||||||||
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 0.0% | ||||||||||||
GenOn Energy, Inc. (a) | 18,425 | 70,199 | ||||||||||
INDUSTRIAL CONGLOMERATES — 2.0% | ||||||||||||
3M Co. | 9,437 | 814,413 | ||||||||||
General Electric Co. | 156,586 | 2,863,958 | ||||||||||
McDermott International, Inc. (a) | 4,421 | 91,470 | ||||||||||
Textron, Inc. (b) | 4,164 | 98,437 | ||||||||||
Tyco International, Ltd. | 2,443 | 101,238 | ||||||||||
3,969,516 | ||||||||||||
INSURANCE — 4.0% | ||||||||||||
ACE, Ltd. | 1,603 | 99,787 | ||||||||||
AFLAC, Inc. | 7,228 | 407,876 | ||||||||||
American International Group, Inc. (a)(b) | 4,765 | 274,559 | ||||||||||
AON Corp. | 4,076 | 187,537 | ||||||||||
Arthur J. Gallagher & Co. (b) | 1,592 | 46,295 | ||||||||||
Assurant, Inc. | 2,235 | 86,092 | ||||||||||
Assured Guaranty, Ltd. | 2,308 | 40,852 | ||||||||||
Berkshire Hathaway, Inc. (Class B) (a) | 28,233 | 2,261,746 | ||||||||||
Chubb Corp. | 5,694 | 339,590 | ||||||||||
Cincinnati Financial Corp. (b) | 2,446 | 77,514 | ||||||||||
Donegal Group, Inc. (Class A) (b) | 2,092 | 30,292 | ||||||||||
Eastern Insurance Holdings, Inc. | 984 | 11,719 | ||||||||||
Everest Re Group, Ltd. | 1,010 | 85,668 | ||||||||||
Fidelity National Financial, Inc. (Class A) | 4,060 | 55,541 | ||||||||||
Genworth Financial, Inc. (Class A) (a) | 7,465 | 98,090 | ||||||||||
Hartford Financial Services Group, Inc. | 6,587 | 174,490 | ||||||||||
Lincoln National Corp. | 6,614 | 183,935 | ||||||||||
Loews Corp. | 6,962 | 270,891 | ||||||||||
Marsh & McLennan Cos., Inc. | 7,091 | 193,868 | ||||||||||
MBIA, Inc. (a) | 3,040 | 36,450 | ||||||||||
Mercer Insurance Group, Inc. | 372 | 10,412 | ||||||||||
MetLife, Inc. | 7,656 | 340,233 | ||||||||||
Old Republic International Corp. (b) | 6,229 | 84,901 | ||||||||||
PartnerRe, Ltd. | 1,103 | 88,626 | ||||||||||
Principal Financial Group, Inc. | 6,126 | 199,463 | ||||||||||
ProAssurance Corp. (a) | 1,888 | 114,413 | ||||||||||
Protective Life Corp. | 456 | 12,148 | ||||||||||
Prudential Financial, Inc. | 6,959 | 408,563 | ||||||||||
Reinsurance Group of America, Inc. | 1,156 | 62,089 | ||||||||||
RenaissanceRe Holdings, Ltd. | 1,244 | 79,230 | ||||||||||
Seabright Insurance Holdings (b) | 2,443 | 22,524 | ||||||||||
Selective Insurance Group, Inc. | 3,852 | 69,914 | ||||||||||
The Allstate Corp. | 8,678 | 276,655 | ||||||||||
The Hanover Insurance Group, Inc. (b) | 1,707 | 79,751 | ||||||||||
The Phoenix Cos., Inc. (a)(b) | 6,903 | 17,534 | ||||||||||
The Progressive Corp. | 9,651 | 191,765 | ||||||||||
The Travelers Cos., Inc. | 9,214 | 513,312 | ||||||||||
Torchmark Corp. (b) | 1,289 | 77,005 | ||||||||||
Transatlantic Holdings, Inc. | 946 | 48,832 | ||||||||||
Unum Group | 6,773 | 164,042 | ||||||||||
Validus Holdings, Ltd. (b) | 2,287 | 70,005 | ||||||||||
W.R. Berkley Corp. (b) | 2,158 | 59,086 | ||||||||||
XL Group PLC | 4,818 | 105,129 | ||||||||||
8,058,424 | ||||||||||||
INTERNET & CATALOG RETAIL — 0.7% | ||||||||||||
Amazon.com, Inc. (a) | 4,827 | 868,860 | ||||||||||
Expedia, Inc. (b) | 5,021 | 125,977 | ||||||||||
HSN, Inc. (a)(b) | 850 | 26,044 | ||||||||||
Liberty Media Corp. — Interactive (Class A) (a) | 9,687 | 152,764 | ||||||||||
Netflix, Inc. (a) | 600 | 105,420 | ||||||||||
Priceline.com, Inc. (a) | 527 | 210,563 | ||||||||||
1,489,628 | ||||||||||||
INTERNET SOFTWARE & SERVICES — 1.7% | ||||||||||||
Akamai Technologies, Inc. (a) | 3,300 | 155,265 | ||||||||||
AOL, Inc. (a) | 1,761 | 41,753 | ||||||||||
Art Technology Group, Inc. (a) | 5,513 | 32,968 | ||||||||||
EarthLink, Inc. (b) | 5,787 | 49,768 | ||||||||||
eBay, Inc. (a) | 15,269 | 424,936 | ||||||||||
Equinix, Inc. (a)(b) | 617 | 50,138 | ||||||||||
Google, Inc. (Class A) (a) | 3,354 | 1,992,175 | ||||||||||
IAC/InterActive Corp. (a) | 2,223 | 63,800 | ||||||||||
Internap Network Services Corp. (a) | 4,441 | 27,001 | ||||||||||
Local.com Corp. (a) | 4,751 | 30,834 | ||||||||||
Monster Worldwide, Inc. (a)(b) | 3,236 | 76,467 | ||||||||||
Terremark Worldwide, Inc. (a) | 3,334 | 43,175 | ||||||||||
VeriSign, Inc. | 3,382 | 110,490 | ||||||||||
WebMD Health Corp. (a) | 799 | 40,797 | ||||||||||
Yahoo!, Inc. (a) | 17,477 | 290,643 | ||||||||||
3,430,210 | ||||||||||||
IT SERVICES — 2.7% | ||||||||||||
Accenture PLC (Class A) | 3,757 | 182,177 | ||||||||||
Alliance Data Systems Corp. (a)(b) | 992 | 70,462 | ||||||||||
Automatic Data Processing, Inc. | 8,108 | 375,238 | ||||||||||
Broadridge Financial Solutions, Inc. | 2,821 | 61,865 | ||||||||||
Cognizant Technology Solutions Corp. (Class A) (a) | 5,305 | 388,803 | ||||||||||
Computer Sciences Corp. | 3,020 | 149,792 | ||||||||||
Fidelity National Information Services, Inc. | 6,871 | 188,197 | ||||||||||
Fiserv, Inc. (a) | 3,448 | 201,915 | ||||||||||
International Business Machines Corp. | 17,578 | 2,579,747 | ||||||||||
Lender Processing Services, Inc. | 2,024 | 59,748 | ||||||||||
Mastercard, Inc. (Class A) | 1,196 | 268,036 | ||||||||||
Paychex, Inc. | 5,653 | 174,734 | ||||||||||
SAIC, Inc. (a) | 2,730 | 43,298 | ||||||||||
The Western Union Co. (b) | 9,930 | 184,400 | ||||||||||
Total System Services, Inc. (b) | 3,176 | 48,847 | ||||||||||
Unisys Corp. (a) | 1,227 | 31,767 | ||||||||||
VeriFone Systems, Inc. (a)(b) | 414 | 15,964 | ||||||||||
Visa, Inc. (Class A) | 6,789 | 477,810 | ||||||||||
5,502,800 | ||||||||||||
See accompanying notes to financial statements.
6
Table of Contents
SPDR Dow Jones Total Market ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
LEISURE EQUIPMENT & PRODUCTS — 0.2% | ||||||||||||
Brunswick Corp. | 2,628 | $ | 49,249 | |||||||||
Eastman Kodak Co. (a)(b) | 5,281 | 28,306 | ||||||||||
Hasbro, Inc. | 3,419 | 161,308 | ||||||||||
Mattel, Inc. | 7,923 | 201,482 | ||||||||||
Pool Corp. | 2,832 | 63,833 | ||||||||||
504,178 | ||||||||||||
LIFE SCIENCES TOOLS & SERVICES — 0.6% | ||||||||||||
Affymetrix, Inc. (a)(b) | 1,640 | 8,249 | ||||||||||
Charles River Laboratories International, Inc. (a)(b) | 1,046 | 37,175 | ||||||||||
Covance, Inc. (a)(b) | 961 | 49,405 | ||||||||||
Illumina, Inc. (a) | 1,986 | 125,793 | ||||||||||
Life Technologies Corp. (a) | 3,259 | 180,875 | ||||||||||
PerkinElmer, Inc. | 3,628 | 93,675 | ||||||||||
Pharmaceutical Product Development, Inc. | 1,200 | 32,568 | ||||||||||
Pure Bioscience (a)(b) | 13,298 | 29,522 | ||||||||||
Sequenom, Inc. (a)(b) | 1,272 | 10,201 | ||||||||||
Techne Corp. | 1,506 | 98,899 | ||||||||||
Thermo Fisher Scientific, Inc. (a) | 6,856 | 379,548 | ||||||||||
Waters Corp. (a) | 2,032 | 157,907 | ||||||||||
1,203,817 | ||||||||||||
MACHINERY — 2.7% | ||||||||||||
AGCO Corp. (a) | 1,155 | 58,512 | ||||||||||
ArvinMeritor, Inc. (a)(b) | 1,154 | 23,680 | ||||||||||
Bucyrus International, Inc. | 1,595 | 142,593 | ||||||||||
Caterpillar, Inc. | 9,065 | 849,028 | ||||||||||
CLARCOR, Inc. | 1,063 | 45,592 | ||||||||||
Crane Co. | 2,063 | 84,728 | ||||||||||
Cummins, Inc. | 2,673 | 294,057 | ||||||||||
Danaher Corp. | 6,862 | 323,681 | ||||||||||
Deere & Co. | 6,243 | 518,481 | ||||||||||
Donaldson Co., Inc. | 1,187 | 69,178 | ||||||||||
Dover Corp. | 2,704 | 158,049 | ||||||||||
Eaton Corp. | 2,577 | 261,591 | ||||||||||
Federal Signal Corp. (b) | 5,402 | 37,058 | ||||||||||
Flowserve Corp. | 782 | 93,230 | ||||||||||
Graco, Inc. (b) | 314 | 12,387 | ||||||||||
Harsco Corp. | 2,121 | 60,067 | ||||||||||
IDEX Corp. | 3,710 | 145,135 | ||||||||||
Illinois Tool Works, Inc. (b) | 9,248 | 493,843 | ||||||||||
Ingersoll-Rand PLC (b) | 1,665 | 78,405 | ||||||||||
John Bean Technologies Corp. | 431 | 8,676 | ||||||||||
Joy Global, Inc. | 2,073 | 179,833 | ||||||||||
Lincoln Electric Holdings, Inc. | 964 | 62,920 | ||||||||||
Mueller Water Products, Inc. (Class A) (b) | 4,398 | 18,340 | ||||||||||
Navistar International Corp. (a) | 1,192 | 69,029 | ||||||||||
Oshkosh Corp. (a)(b) | 2,343 | 82,567 | ||||||||||
PACCAR, Inc. | 4,983 | 286,124 | ||||||||||
Pall Corp. | 3,678 | 182,355 | ||||||||||
Parker-Hannifin Corp. | 3,048 | 263,043 | ||||||||||
Pentair, Inc. | 2,492 | 90,983 | ||||||||||
SPX Corp. | 1,331 | 95,153 | ||||||||||
Terex Corp. (a)(b) | 1,933 | 60,000 | ||||||||||
The Manitowoc Co., Inc. (b) | 2,316 | 30,363 | ||||||||||
The Timken Co. | 2,832 | 135,171 | ||||||||||
WABCO Holdings, Inc. (a) | 1,484 | 90,420 | ||||||||||
Watts Water Technologies, Inc. | 2,475 | 90,560 | ||||||||||
5,494,832 | ||||||||||||
MARINE — 0.0% (d) | ||||||||||||
Genco Shipping & Trading, Ltd. (a)(b) | 420 | 6,048 | ||||||||||
MEDIA — 3.1% | ||||||||||||
Ascent Media Corp. (Class A) (a)(b) | 211 | 8,178 | ||||||||||
Cablevision Systems Corp. (Class A) | 4,223 | 142,906 | ||||||||||
CBS Corp. | 10,367 | 197,491 | ||||||||||
Comcast Corp. (Class A) | 40,990 | 900,550 | ||||||||||
DIRECTV (Class A) (a) | 14,982 | 598,231 | ||||||||||
Discovery Communications, Inc. (Series A) (a)(b) | 4,705 | 196,198 | ||||||||||
DISH Network Corp. (Class A) (a) | 4,751 | 93,405 | ||||||||||
Gannett Co., Inc. (b) | 6,357 | 95,927 | ||||||||||
Journal Communications, Inc. (Class A) (a) | 5,530 | 27,927 | ||||||||||
Knology, Inc. (a)(b) | 3,802 | 59,425 | ||||||||||
Lamar Advertising Co. (Class A) (a)(b) | 1,899 | 75,656 | ||||||||||
Liberty Global, Inc. (Series A) (a)(b) | 6,115 | 216,349 | ||||||||||
Liberty Media — Starz (Series A) (a) | 775 | 51,522 | ||||||||||
Liberty Media Corp. — Capital (Class A) (a) | 1,935 | 121,054 | ||||||||||
Live Nation, Inc. (a)(b) | 2,315 | 26,437 | ||||||||||
Madison Square Garden, Inc. (Class A) (a) | 1,056 | 27,224 | ||||||||||
News Corp. (Class A) | 33,492 | 487,644 | ||||||||||
Omnicom Group, Inc. | 4,586 | 210,039 | ||||||||||
Scripps Networks Interactive (Class A) | 1,064 | 55,062 | ||||||||||
Sirius XM Radio, Inc. (a)(b) | 52,473 | 86,056 | ||||||||||
The Interpublic Group of Cos., Inc. (a) | 8,841 | 93,891 | ||||||||||
The McGraw-Hill Cos., Inc. | 5,841 | 212,671 | ||||||||||
The New York Times Co. (Class A) (a)(b) | 1,759 | 17,238 | ||||||||||
The Walt Disney Co. | 26,822 | 1,006,093 | ||||||||||
Time Warner Cable, Inc. | 4,640 | 306,379 | ||||||||||
Time Warner, Inc. | 19,168 | 616,635 | ||||||||||
Valassis Communications, Inc. (a) | 210 | 6,794 | ||||||||||
Viacom, Inc. (Class B) | 7,971 | 315,731 | ||||||||||
Virgin Media, Inc. (b) | 4,645 | 126,530 | ||||||||||
6,379,243 | ||||||||||||
METALS & MINING — 1.4% | ||||||||||||
AK Steel Holding Corp. (b) | 3,860 | 63,188 | ||||||||||
Alcoa, Inc. | 12,919 | 198,823 | ||||||||||
Allegheny Technologies, Inc. (b) | 1,506 | 83,101 | ||||||||||
Allied Nevada Gold Corp. (a) | 840 | 22,100 | ||||||||||
Century Aluminum Co. (a)(b) | 1,495 | 23,217 | ||||||||||
Cliffs Natural Resources, Inc. | 2,414 | 188,316 | ||||||||||
Coeur d’Alene Mines Corp. (a)(b) | 524 | 14,316 | ||||||||||
Commercial Metals Co. | 2,272 | 37,693 |
See accompanying notes to financial statements.
7
Table of Contents
SPDR Dow Jones Total Market ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Freeport-McMoRan Copper & Gold, Inc. (b) | 6,859 | $ | 823,697 | |||||||||
Newmont Mining Corp. | 7,194 | 441,928 | ||||||||||
Nucor Corp. (b) | 4,379 | 191,888 | ||||||||||
Reliance Steel & Aluminum Co. | 800 | 40,880 | ||||||||||
Royal Gold, Inc. | 1,308 | 71,456 | ||||||||||
Schnitzer Steel Industries, Inc. (Class A) (b) | 600 | 39,834 | ||||||||||
Southern Copper Corp. | 3,509 | 171,029 | ||||||||||
Steel Dynamics, Inc. (b) | 3,249 | 59,457 | ||||||||||
Titanium Metals Corp. (a) | 2,224 | 38,208 | ||||||||||
United States Steel Corp. | 2,912 | 170,119 | ||||||||||
Walter Energy, Inc. | 1,161 | 148,422 | ||||||||||
Worthington Industries, Inc. (b) | 864 | 15,898 | ||||||||||
2,843,570 | ||||||||||||
MULTI-UTILITIES — 2.9% | ||||||||||||
Allegheny Energy, Inc. | 3,536 | 85,713 | ||||||||||
Alliant Energy Corp. | 410 | 15,076 | ||||||||||
Ameren Corp. | 3,041 | 85,726 | ||||||||||
American Electric Power Co., Inc. | 6,299 | 226,638 | ||||||||||
Aqua America, Inc. | 1,711 | 38,463 | ||||||||||
Calpine Corp. (a)(b) | 5,254 | 70,088 | ||||||||||
CMS Energy Corp. | 5,999 | 111,581 | ||||||||||
Consolidated Edison, Inc. | 3,992 | 197,883 | ||||||||||
Constellation Energy Group, Inc. | 3,055 | 93,575 | ||||||||||
Dominion Resources, Inc. | 9,157 | 391,187 | ||||||||||
DTE Energy Co. | 1,829 | 82,890 | ||||||||||
Duke Energy Corp. | 16,117 | 287,044 | ||||||||||
Edison International | 5,123 | 197,748 | ||||||||||
El Paso Corp. | 12,300 | 169,248 | ||||||||||
Entergy Corp. | 2,748 | 194,641 | ||||||||||
Exelon Corp. | 9,767 | 406,698 | ||||||||||
FirstEnergy Corp. (b) | 4,752 | 175,919 | ||||||||||
NextEra Energy, Inc. | 5,459 | 283,813 | ||||||||||
NiSource, Inc. | 4,293 | 75,643 | ||||||||||
Northeast Utilities | 2,212 | 70,519 | ||||||||||
NRG Energy, Inc. (a) | 5,469 | 106,864 | ||||||||||
Pepco Holdings, Inc. | 6,356 | 115,997 | ||||||||||
PG&E Corp. | 5,246 | 250,969 | ||||||||||
Pinnacle West Capital Corp. | 1,720 | 71,294 | ||||||||||
PPL Corp. | 5,689 | 149,734 | ||||||||||
Progress Energy, Inc. | 3,089 | 134,310 | ||||||||||
Public Service Enterprise Group, Inc. | 6,688 | 212,745 | ||||||||||
Sempra Energy | 3,518 | 184,625 | ||||||||||
Southern Co. | 11,976 | 457,842 | ||||||||||
Spectra Energy Corp. | 9,208 | 230,108 | ||||||||||
TECO Energy, Inc. (b) | 6,336 | 112,781 | ||||||||||
The AES Corp. (a) | 11,048 | 134,565 | ||||||||||
The Williams Cos., Inc. | 9,417 | 232,788 | ||||||||||
Wisconsin Energy Corp. | 1,506 | 88,643 | ||||||||||
Xcel Energy, Inc. | 8,355 | 196,760 | ||||||||||
5,940,118 | ||||||||||||
MULTILINE RETAIL — 0.9% | ||||||||||||
Big Lots, Inc. (a) | 2,711 | 82,577 | ||||||||||
Dillard’s, Inc. (Class A) (b) | 948 | 35,967 | ||||||||||
Dollar Tree, Inc. (a) | 2,964 | 166,221 | ||||||||||
Family Dollar Stores, Inc. | 2,545 | 126,512 | ||||||||||
J.C. Penney Co., Inc. | 3,482 | 112,503 | ||||||||||
Kohl’s Corp. (a) | 4,416 | 239,966 | ||||||||||
Macy’s, Inc. | 7,770 | 196,581 | ||||||||||
Nordstrom, Inc. | 3,902 | 165,367 | ||||||||||
Sears Holdings Corp. (a)(b) | 1,270 | 93,663 | ||||||||||
Target Corp. | 9,557 | 574,662 | ||||||||||
1,794,019 | ||||||||||||
OFFICE ELECTRONICS — 0.2% | ||||||||||||
Xerox Corp. | 25,526 | 294,060 | ||||||||||
Zebra Technologies Corp. (Class A) (a) | 2,255 | 85,667 | ||||||||||
379,727 | ||||||||||||
OIL, GAS & CONSUMABLE FUELS — 8.8% | ||||||||||||
Abraxas Petroleum Corp. (a) | 5,703 | 26,063 | ||||||||||
Adams Resources & Energy, Inc. | 372 | 8,984 | ||||||||||
Alpha Natural Resources, Inc. (a) | 3,054 | 183,332 | ||||||||||
Anadarko Petroleum Corp. | 7,826 | 596,028 | ||||||||||
Apache Corp. | 5,487 | 654,215 | ||||||||||
Approach Resources, Inc. (a) | 490 | 11,319 | ||||||||||
Arch Coal, Inc. | 3,046 | 106,793 | ||||||||||
Atlas Energy, Inc. (a) | 310 | 13,631 | ||||||||||
Blue Dolphin Energy Co. (a)(b) | 2,144 | 5,060 | ||||||||||
BPZ Resources, Inc. (a)(b) | 1,232 | 5,864 | ||||||||||
Brigham Exploration Co. (a) | 1,832 | 49,904 | ||||||||||
Cabot Oil & Gas Corp. | 1,210 | 45,798 | ||||||||||
Chesapeake Energy Corp. (b) | 8,892 | 230,392 | ||||||||||
Chevron Corp. | 29,540 | 2,695,525 | ||||||||||
Cimarex Energy Co. | 900 | 79,677 | ||||||||||
Clayton Williams Energy, Inc. (a) | 124 | 10,412 | ||||||||||
Concho Resources, Inc. (a)(b) | 1,624 | 142,376 | ||||||||||
ConocoPhillips | 19,651 | 1,338,233 | ||||||||||
Consol Energy, Inc. | 3,078 | 150,022 | ||||||||||
Contango Oil & Gas Co. (a) | 248 | 14,367 | ||||||||||
Contango ORE, Inc. (a) | 24 | 252 | ||||||||||
Denbury Resources, Inc. (a)(b) | 5,905 | 112,726 | ||||||||||
Devon Energy Corp. | 6,527 | 512,435 | ||||||||||
EOG Resources, Inc. | 3,907 | 357,139 | ||||||||||
EXCO Resources, Inc. | 3,200 | 62,144 | ||||||||||
Exxon Mobil Corp. | 74,662 | 5,459,285 | ||||||||||
Forest Oil Corp. (a) | 1,860 | 70,624 | ||||||||||
Frontier Oil Corp. (a) | 2,403 | 43,278 | ||||||||||
Goodrich Petroleum Corp. (a) | 1,218 | 21,485 | ||||||||||
Hess Corp. | 4,295 | 328,739 | ||||||||||
Holly Corp. | 1,162 | 47,375 | ||||||||||
Houston American Energy Corp. (b) | 7,396 | 133,794 | ||||||||||
Marathon Oil Corp. | 11,006 | 407,552 | ||||||||||
Massey Energy Co. | 2,562 | 137,451 | ||||||||||
Murphy Oil Corp. | 3,002 | 223,799 | ||||||||||
Newfield Exploration Co. (a) | 2,022 | 145,806 | ||||||||||
Noble Energy, Inc. | 3,118 | 268,397 | ||||||||||
Occidental Petroleum Corp. | 12,203 | 1,197,114 | ||||||||||
Panhandle Oil & Gas, Inc. (b) | 372 | 10,200 | ||||||||||
Patriot Coal Corp. (a)(b) | 3,440 | 66,633 | ||||||||||
Peabody Energy Corp. | 4,115 | 263,278 | ||||||||||
Petrohawk Energy Corp. (a) | 4,665 | 85,136 | ||||||||||
Pioneer Natural Resources Co. | 2,741 | 237,974 | ||||||||||
Plains Exploration & Production Co. (a) | 3,330 | 107,026 | ||||||||||
QEP Resources, Inc. | 2,284 | 82,932 |
See accompanying notes to financial statements.
8
Table of Contents
SPDR Dow Jones Total Market ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Quicksilver Resources, Inc. (a) | 732 | $ | 10,790 | |||||||||
Range Resources Corp. (b) | 3,148 | 141,597 | ||||||||||
Rex Energy Corp. (a)(b) | 1,422 | 19,410 | ||||||||||
SandRidge Energy, Inc. (a)(b) | 6,653 | 48,700 | ||||||||||
SM Energy Co. | 2,902 | 171,015 | ||||||||||
Southwestern Energy Co. (a) | 5,663 | 211,966 | ||||||||||
Sunoco, Inc. | 2,361 | 95,172 | ||||||||||
Tesoro Corp. (a) | 3,405 | 63,129 | ||||||||||
Toreador Resources Corp. (a)(b) | 984 | 15,272 | ||||||||||
Ultra Petroleum Corp. (a)(b) | 2,080 | 99,362 | ||||||||||
Valero Energy Corp. | 8,243 | 190,578 | ||||||||||
Zion Oil & Gas, Inc. (a)(b) | 2,237 | 10,693 | ||||||||||
17,828,253 | ||||||||||||
PAPER & FOREST PRODUCTS — 0.3% | ||||||||||||
Domtar Corp. | 195 | 14,804 | ||||||||||
International Paper Co. | 8,071 | 219,854 | ||||||||||
Louisiana-Pacific Corp. (a)(b) | 1,364 | 12,904 | ||||||||||
MeadWestvaco Corp. | 5,011 | 131,088 | ||||||||||
Weyerhaeuser Co. | 8,087 | 153,087 | ||||||||||
531,737 | ||||||||||||
PERSONAL PRODUCTS — 0.2% | ||||||||||||
Avon Products, Inc. | 7,091 | 206,065 | ||||||||||
Herbalife, Ltd. | 1,400 | 95,718 | ||||||||||
The Estee Lauder Cos., Inc. (Class A) | 2,659 | 214,581 | ||||||||||
516,364 | ||||||||||||
PHARMACEUTICALS — 4.6% | ||||||||||||
Abbott Laboratories | 21,631 | 1,036,341 | ||||||||||
Allergan, Inc. | 4,550 | 312,448 | ||||||||||
Auxilium Pharmaceuticals, Inc. (a) | 911 | 19,222 | ||||||||||
Bristol-Myers Squibb Co. | 27,649 | 732,146 | ||||||||||
Eli Lilly & Co. | 13,725 | 480,924 | ||||||||||
Endo Pharmaceuticals Holdings, Inc. (a) | 1,976 | 70,563 | ||||||||||
Forest Laboratories, Inc. (a) | 5,218 | 166,872 | ||||||||||
Johnson & Johnson | 38,483 | 2,380,174 | ||||||||||
King Pharmaceuticals, Inc. (a) | 3,891 | 54,669 | ||||||||||
Merck & Co., Inc. | 44,937 | 1,619,529 | ||||||||||
Mylan, Inc. (a) | 5,788 | 122,300 | ||||||||||
Nektar Therapeutics (a)(b) | 1,146 | 14,726 | ||||||||||
Perrigo Co. (b) | 1,655 | 104,811 | ||||||||||
Pfizer, Inc. | 117,400 | 2,055,674 | ||||||||||
Questcor Pharmaceuticals, Inc. (a) | 1,353 | 19,930 | ||||||||||
ViroPharma, Inc. (a) | 2,000 | 34,640 | ||||||||||
VIVUS, Inc. (a)(b) | 3,930 | 36,824 | ||||||||||
Watson Pharmaceuticals, Inc. (a) | 2,614 | 135,013 | ||||||||||
9,396,806 | ||||||||||||
PROFESSIONAL SERVICES — 0.2% | ||||||||||||
Equifax, Inc. | 3,110 | 110,716 | ||||||||||
IHS, Inc. (Class A) (a) | 926 | 74,441 | ||||||||||
Manpower, Inc. | 1,404 | 88,115 | ||||||||||
Robert Half International, Inc. (b) | 4,202 | 128,581 | ||||||||||
The Dun & Bradstreet Corp. | 1,430 | 117,389 | ||||||||||
519,242 | ||||||||||||
REAL ESTATE INVESTMENT TRUSTS — 2.4% | ||||||||||||
Agree Realty Corp. | 3,552 | 93,027 | ||||||||||
AMB Property Corp. (b) | 1,528 | 48,453 | ||||||||||
American Campus Communities, Inc. | 1,777 | 56,438 | ||||||||||
Annaly Capital Management, Inc. (b) | 9,139 | 163,771 | ||||||||||
Apartment Investment & Management Co. (Class A) | 3,464 | 89,510 | ||||||||||
Ashford Hospitality Trust (a)(b) | 8,582 | 82,816 | ||||||||||
AvalonBay Communities, Inc. | 1,346 | 151,492 | ||||||||||
BioMed Realty Trust, Inc. | 2,914 | 54,346 | ||||||||||
Boston Properties, Inc. | 3,311 | 285,077 | ||||||||||
BRE Properties, Inc. | 1,107 | 48,155 | ||||||||||
Camden Property Trust | 462 | 24,939 | ||||||||||
CBL & Associates Properties, Inc. (b) | 2,493 | 43,628 | ||||||||||
Cedar Shopping Centers, Inc. (b) | 2,551 | 16,046 | ||||||||||
Cogdell Spencer, Inc. | 1,765 | 10,237 | ||||||||||
Colonial Properties Trust | 524 | 9,458 | ||||||||||
Corporate Office Properties Trust (b) | 2,414 | 84,369 | ||||||||||
Developers Diversified Realty Corp. (b) | 2,643 | 37,240 | ||||||||||
Digital Realty Trust, Inc. (b) | 1,129 | 58,189 | ||||||||||
Duke Realty Corp. | 2,924 | 36,433 | ||||||||||
Equity Residential | 5,330 | 276,894 | ||||||||||
Extra Space Storage, Inc. | 2,186 | 38,036 | ||||||||||
Glimcher Realty Trust | 4,500 | 37,800 | ||||||||||
HCP, Inc. | 4,462 | 164,157 | ||||||||||
Health Care REIT, Inc. | 1,291 | 61,503 | ||||||||||
Home Properties, Inc. (b) | 772 | 42,838 | ||||||||||
Hospitality Properties Trust | 2,381 | 54,858 | ||||||||||
Host Hotels & Resorts, Inc. | 10,758 | 192,245 | ||||||||||
Investors Real Estate Trust | 9,972 | 89,449 | ||||||||||
Kimco Realty Corp. | 5,010 | 90,380 | ||||||||||
LaSalle Hotel Properties | 3,512 | 92,717 | ||||||||||
Lexington Realty Trust (b) | 2,284 | 18,158 | ||||||||||
Liberty Property Trust (b) | 1,686 | 53,817 | ||||||||||
Monmouth Real Estate Investment Corp. (b) | 6,370 | 54,145 | ||||||||||
National Retail Properties, Inc. | 4,316 | 114,374 | ||||||||||
Nationwide Health Properties, Inc. | 1,515 | 55,116 | ||||||||||
Pennsylvania Real Estate Investment Trust | 3,210 | 46,641 | ||||||||||
Pittsburgh & West Virginia Railroad (b) | 2,750 | 31,020 | ||||||||||
Plum Creek Timber Co., Inc. | 3,429 | 128,416 | ||||||||||
Post Properties, Inc. | 566 | 20,546 | ||||||||||
ProLogis | 6,526 | 94,235 | ||||||||||
Public Storage | 1,535 | 155,680 | ||||||||||
Realty Income Corp. | 2,186 | 74,761 | ||||||||||
Regency Centers Corp. (b) | 284 | 11,996 | ||||||||||
Senior Housing Properties Trust | 1,912 | 41,949 | ||||||||||
Simon Property Group, Inc. | 3,958 | 393,781 | ||||||||||
SL Green Realty Corp. (b) | 1,034 | 69,805 | ||||||||||
Strategic Hotels & Resorts, Inc. (a) | 1,258 | 6,655 | ||||||||||
Sunstone Hotel Investors, Inc. (a) | 826 | 8,533 | ||||||||||
Tanger Factory Outlet Centers, Inc. | 2,003 | 102,534 | ||||||||||
The Macerich Co. (b) | 2,673 | 126,620 | ||||||||||
Transcontinental Realty Investors, Inc. (a) | 844 | 5,663 | ||||||||||
UDR, Inc. (b) | 2,797 | 65,785 | ||||||||||
Urstadt Biddle Properties (Class A) | 5,460 | 106,197 | ||||||||||
Ventas, Inc. | 2,222 | 116,611 |
See accompanying notes to financial statements.
9
Table of Contents
SPDR Dow Jones Total Market ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Vornado Realty Trust | 4,462 | $ | 371,818 | |||||||||
Walter Investment Management Corp. | 420 | 7,535 | ||||||||||
Weingarten Realty Investors (b) | 1,712 | 40,677 | ||||||||||
4,857,569 | ||||||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 0.1% | ||||||||||||
Brookfield Properties Corp. | 2,392 | 41,932 | ||||||||||
CB Richard Ellis Group, Inc. (Class A) (a) | 6,041 | 123,720 | ||||||||||
Forestar Real Estate Group, Inc. (a) | 810 | 15,633 | ||||||||||
Jones Lang LaSalle, Inc. | 982 | 82,409 | ||||||||||
The St. Joe Co. (a)(b) | 1,407 | 30,743 | ||||||||||
294,437 | ||||||||||||
ROAD & RAIL — 1.0% | ||||||||||||
Avis Budget Group, Inc. (a) | 1,468 | 22,842 | ||||||||||
Con-way, Inc. | 420 | 15,360 | ||||||||||
CSX Corp. | 6,559 | 423,777 | ||||||||||
Dollar Thrifty Automotive Group, Inc. (a) | 1,551 | 73,300 | ||||||||||
J.B. Hunt Transport Services, Inc. | 4,000 | 163,240 | ||||||||||
Kansas City Southern (a) | 1,848 | 88,445 | ||||||||||
Landstar Systems, Inc. | 2,531 | 103,619 | ||||||||||
Norfolk Southern Corp. | 6,358 | 399,410 | ||||||||||
Union Pacific Corp. | 7,126 | 660,295 | ||||||||||
1,950,288 | ||||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 2.9% | ||||||||||||
Advanced Micro Devices, Inc. (a)(b) | 8,481 | 69,375 | ||||||||||
Aetrium, Inc. (a)(b) | 7,413 | 17,272 | ||||||||||
Altera Corp. (b) | 4,975 | 177,010 | ||||||||||
Anadigics, Inc. (a)(b) | 2,477 | 17,166 | ||||||||||
Analog Devices, Inc. | 5,331 | 200,819 | ||||||||||
Applied Materials, Inc. | 21,581 | 303,213 | ||||||||||
Atheros Communications, Inc. (a)(b) | 2,786 | 100,073 | ||||||||||
AXT, Inc. (a) | 8,174 | 85,337 | ||||||||||
Broadcom Corp. (Class A) | 8,070 | 351,448 | ||||||||||
Cirrus Logic, Inc. (a)(b) | 1,678 | 26,814 | ||||||||||
Cree, Inc. (a) | 310 | 20,426 | ||||||||||
Cypress Semiconductor Corp. (a) | 2,559 | 47,546 | ||||||||||
Energy Conversion Devices, Inc. (a)(b) | 1,200 | 5,520 | ||||||||||
FEI Co. (a)(b) | 2,079 | 54,906 | ||||||||||
First Solar, Inc. (a)(b) | 832 | 108,276 | ||||||||||
Intel Corp. | 81,803 | 1,720,317 | ||||||||||
International Rectifier Corp. (a) | 1,756 | 52,136 | ||||||||||
Intersil Corp. (Class A) (b) | 4,627 | 70,654 | ||||||||||
KLA-Tencor Corp. | 4,183 | 161,631 | ||||||||||
Lam Research Corp. (a) | 3,319 | 171,858 | ||||||||||
Linear Technology Corp. | 4,662 | 161,259 | ||||||||||
LSI Corp. (a) | 9,844 | 58,966 | ||||||||||
Marvell Technology Group, Ltd. (a) | 7,174 | 133,078 | ||||||||||
Maxim Integrated Products, Inc. | 2,799 | 66,112 | ||||||||||
MEMC Electronic Materials, Inc. (a) | 4,296 | 48,373 | ||||||||||
Microchip Technology, Inc. (b) | 3,855 | 131,880 | ||||||||||
Micron Technology, Inc. (a)(b) | 11,979 | 96,072 | ||||||||||
Microsemi Corp. (a) | 2,448 | 56,059 | ||||||||||
MKS Instruments, Inc. (a) | 308 | 7,543 | ||||||||||
National Semiconductor Corp. | 6,227 | 85,684 | ||||||||||
Novellus Systems, Inc. (a) | 3,560 | 115,059 | ||||||||||
NVIDIA Corp. (a) | 9,696 | 149,318 | ||||||||||
ON Semiconductor Corp. (a) | 4,546 | 44,914 | ||||||||||
Rambus, Inc. (a)(b) | 2,183 | 44,708 | ||||||||||
Sigma Designs, Inc. (a)(b) | 624 | 8,842 | ||||||||||
Skyworks Solutions, Inc. (a) | 1,287 | 36,847 | ||||||||||
SunPower Corp. (Class A) (a) | 2,416 | 30,997 | ||||||||||
Teradyne, Inc. (a)(b) | 5,138 | 72,138 | ||||||||||
Texas Instruments, Inc. | 19,326 | 628,095 | ||||||||||
Xilinx, Inc. (b) | 4,226 | 122,469 | ||||||||||
5,860,210 | ||||||||||||
SOFTWARE — 4.1% | ||||||||||||
Activision Blizzard, Inc. | 9,620 | 119,673 | ||||||||||
Adobe Systems, Inc. (a) | 9,792 | 301,398 | ||||||||||
Autodesk, Inc. (a) | 5,266 | 201,161 | ||||||||||
BMC Software, Inc. (a) | 3,668 | 172,909 | ||||||||||
CA, Inc. | 7,059 | 172,522 | ||||||||||
Cadence Design Systems, Inc. (a) | 7,239 | 59,794 | ||||||||||
Citrix Systems, Inc. (a) | 4,325 | 295,873 | ||||||||||
Compuware Corp. (a) | 8,137 | 94,959 | ||||||||||
Concur Technologies, Inc. (a) | 1,296 | 67,301 | ||||||||||
Electronic Arts, Inc. (a)(b) | 4,749 | 77,789 | ||||||||||
Intuit, Inc. (a) | 5,722 | 282,095 | ||||||||||
Jack Henry & Associates, Inc. | 2,146 | 62,556 | ||||||||||
McAfee, Inc. (a) | 3,313 | 153,425 | ||||||||||
Microsoft Corp. | 115,280 | 3,218,618 | ||||||||||
Novell, Inc. (a) | 10,699 | 63,338 | ||||||||||
Nuance Communications, Inc. (a) | 4,511 | 82,010 | ||||||||||
Oracle Corp. | 58,108 | 1,818,780 | ||||||||||
Parametric Technology Corp. (a)(b) | 4,885 | 110,059 | ||||||||||
Red Hat, Inc. (a) | 4,161 | 189,950 | ||||||||||
Rovi Corp. (a)(b) | 784 | 48,616 | ||||||||||
Salesforce.com, Inc. (a)(b) | 1,661 | 219,252 | ||||||||||
Smith Micro Software, Inc. (a) | 1,915 | 30,142 | ||||||||||
Solera Holdings, Inc. | 1,700 | 87,244 | ||||||||||
Symantec Corp. (a) | 13,754 | 230,242 | ||||||||||
Synopsys, Inc. (a) | 4,021 | 108,205 | ||||||||||
TiVo, Inc. (a)(b) | 3,000 | 25,890 | ||||||||||
Versant Corp. (a)(b) | 2,433 | 28,734 | ||||||||||
VMware, Inc. (Class A) (a) | 520 | 46,233 | ||||||||||
Websense, Inc. (a)(b) | 689 | 13,952 | ||||||||||
8,382,720 | ||||||||||||
SPECIALTY RETAIL — 2.3% | ||||||||||||
Abercrombie & Fitch Co. (Class A) | 2,060 | 118,718 | ||||||||||
Advance Auto Parts, Inc. | 2,260 | 149,499 | ||||||||||
Aeropostale, Inc. (a) | 1,200 | 29,568 | ||||||||||
American Eagle Outfitters, Inc. | 4,153 | 60,758 | ||||||||||
AutoNation, Inc. (a)(b) | 4,178 | 117,820 | ||||||||||
AutoZone, Inc. (a) | 663 | 180,727 | ||||||||||
Bed Bath & Beyond, Inc. (a) | 4,619 | 227,024 | ||||||||||
Best Buy Co., Inc. | 4,993 | 171,210 | ||||||||||
Chico’s FAS, Inc. | 2,570 | 30,917 | ||||||||||
Dick’s Sporting Goods, Inc. (a) | 1,628 | 61,050 | ||||||||||
Foot Locker, Inc. | 3,689 | 72,378 | ||||||||||
GameStop Corp. (Class A) (a)(b) | 2,269 | 51,915 | ||||||||||
Genesco, Inc. (a) | 373 | 13,984 | ||||||||||
Limited Brands, Inc. | 5,760 | 177,005 |
See accompanying notes to financial statements.
10
Table of Contents
SPDR Dow Jones Total Market ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Lowe’s Cos., Inc. | 20,252 | $ | 507,920 | |||||||||
O’Reilly Automotive, Inc. (a) | 3,085 | 186,396 | ||||||||||
Office Depot, Inc. (a) | 5,831 | 31,487 | ||||||||||
OfficeMax, Inc. (a) | 1,048 | 18,550 | ||||||||||
PetSmart, Inc. | 3,429 | 136,543 | ||||||||||
Pier 1 Imports, Inc. (a) | 944 | 9,912 | ||||||||||
RadioShack Corp. | 3,349 | 61,923 | ||||||||||
Rent-A-Center, Inc. | 2,345 | 75,697 | ||||||||||
Ross Stores, Inc. | 2,902 | 183,551 | ||||||||||
Staples, Inc. | 11,046 | 251,517 | ||||||||||
The Gap, Inc. | 8,595 | 190,293 | ||||||||||
The Home Depot, Inc. | 25,719 | 901,708 | ||||||||||
The Men’s Wearhouse, Inc. (b) | 763 | 19,060 | ||||||||||
The Sherwin-Williams Co. | 1,189 | 99,579 | ||||||||||
The TJX Cos., Inc. | 5,994 | 266,074 | ||||||||||
Tiffany & Co. | 2,539 | 158,103 | ||||||||||
Urban Outfitters, Inc. (a) | 2,693 | 96,436 | ||||||||||
Williams-Sonoma, Inc. (b) | 2,088 | 74,521 | ||||||||||
4,731,843 | ||||||||||||
TEXTILES, APPAREL & LUXURY GOODS — 0.6% | ||||||||||||
Carter’s, Inc. (a) | 1,492 | 44,029 | ||||||||||
Coach, Inc. | 5,498 | 304,094 | ||||||||||
Crocs, Inc. (a) | 524 | 8,971 | ||||||||||
Hanesbrands, Inc. (a) | 2,080 | 52,832 | ||||||||||
Iconix Brand Group, Inc. (a) | 682 | 13,170 | ||||||||||
Jones Apparel Group, Inc. | 3,502 | 54,421 | ||||||||||
Liz Claiborne, Inc. (a)(b) | 3,030 | 21,695 | ||||||||||
NIKE, Inc. (Class B) | 4,241 | 362,266 | ||||||||||
Quiksilver, Inc. (a) | 5,063 | 25,669 | ||||||||||
Under Armour, Inc. (Class A) (a)(b) | 867 | 47,546 | ||||||||||
V.F. Corp. (b) | 1,018 | 87,731 | ||||||||||
Wolverine World Wide, Inc. | 3,345 | 106,639 | ||||||||||
1,129,063 | ||||||||||||
THRIFTS & MORTGAGE FINANCE — 0.3% | ||||||||||||
Astoria Financial Corp. | 1,932 | 26,874 | ||||||||||
Berkshire Hills Bancorp, Inc. (b) | 2,541 | 56,156 | ||||||||||
Hudson City Bancorp, Inc. | 4,704 | 59,929 | ||||||||||
MGIC Investment Corp. (a)(b) | 3,618 | 36,867 | ||||||||||
New York Community Bancorp, Inc. (b) | 4,372 | 82,412 | ||||||||||
NewAlliance Bancshares, Inc. | 7,753 | 116,140 | ||||||||||
OceanFirst Financial Corp. | 4,788 | 61,622 | ||||||||||
People’s United Financial, Inc. | 5,209 | 72,978 | ||||||||||
Radian Group, Inc. | 2,711 | 21,878 | ||||||||||
TF Financial Corp. NY (b) | 248 | 5,528 | ||||||||||
TrustCo Bank Corp. NY | 8,790 | 55,729 | ||||||||||
596,113 | ||||||||||||
TOBACCO — 1.4% | ||||||||||||
Altria Group, Inc. | 30,387 | 748,128 | ||||||||||
Lorillard, Inc. | 2,158 | 177,085 | ||||||||||
Philip Morris International, Inc. | 27,939 | 1,635,270 | ||||||||||
Reynolds American, Inc. | 6,132 | 200,026 | ||||||||||
2,760,509 | ||||||||||||
TRADING COMPANIES & DISTRIBUTORS — 0.2% | ||||||||||||
Fastenal Co. (b) | 3,085 | 184,822 | ||||||||||
Kaman Corp. (Class A) (b) | 2,685 | 78,053 | ||||||||||
W.W. Grainger, Inc. | 618 | 85,352 | ||||||||||
Willis Lease Finance Corp. (a)(b) | 490 | 6,385 | ||||||||||
354,612 | ||||||||||||
WATER UTILITIES — 0.1% | ||||||||||||
Artesian Resources Corp. (Class A) (b) | 490 | 9,285 | ||||||||||
Cadiz, Inc. (a)(b) | 858 | 10,674 | ||||||||||
Connecticut Water Service, Inc. (b) | 1,200 | 33,456 | ||||||||||
Middlesex Water Co. (b) | 5,588 | 102,540 | ||||||||||
Pennichuck Corp. | 248 | 6,785 | ||||||||||
The York Water Co. (b) | 2,759 | 47,703 | ||||||||||
210,443 | ||||||||||||
WIRELESS TELECOMMUNICATION SERVICES — 0.5% | ||||||||||||
American Tower Corp. (Class A) (a) | 6,514 | 336,383 | ||||||||||
Crown Castle International Corp. (a) | 4,482 | 196,446 | ||||||||||
Leap Wireless International, Inc. (a)(b) | 1,376 | 16,870 | ||||||||||
MetroPCS Communications, Inc. (a) | 3,458 | 43,674 | ||||||||||
NII Holdings, Inc. (a) | 3,054 | 136,391 | ||||||||||
SBA Communications Corp. (Class A) (a)(b) | 2,150 | 88,021 | ||||||||||
Sprint Nextel Corp. (a)(b) | 39,155 | 165,626 | ||||||||||
Telephone & Data Systems, Inc. | 2,225 | 81,324 | ||||||||||
1,064,735 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $180,807,646) | 202,365,755 | |||||||||||
SHORT TERM INVESTMENTS — 4.6% | ||||||||||||
MONEY MARKET FUNDS — 4.6% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (e)(f) | 8,943,188 | 8,943,188 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (f)(g) | 321,478 | 321,478 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $9,264,666) | 9,264,666 | |||||||||||
TOTAL INVESTMENTS — 104.3% (h) | ||||||||||||
(Cost $190,072,312) | 211,630,421 | |||||||||||
OTHER ASSETS & LIABILITIES — (4.3)% | (8,700,397 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 202,930,024 | ||||||||||
(a) | Non-income producing security. | |||||
(b) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(c) | Affiliated issuer. (Note 3) | |||||
(d) | Amount shown represents less than 0.05% of net assets. | |||||
(e) | Investments of cash collateral for securities loaned. | |||||
(f) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(g) | The rate shown is the annualized seven-day yield at period end. | |||||
(h) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
11
Table of Contents
SPDR Dow Jones Large Cap ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.9% | ||||||||||||
AEROSPACE & DEFENSE — 2.3% | ||||||||||||
Alliant Techsystems, Inc. (a)(b) | 114 | $ | 8,485 | |||||||||
Boeing Co. | 2,136 | 139,395 | ||||||||||
General Dynamics Corp. | 1,012 | 71,811 | ||||||||||
Goodrich Corp. | 425 | 37,430 | ||||||||||
Honeywell International, Inc. | 2,361 | 125,511 | ||||||||||
ITT Corp. (a) | 617 | 32,152 | ||||||||||
L-3 Communications Holdings, Inc. (a) | 408 | 28,760 | ||||||||||
Lockheed Martin Corp. (a) | 992 | 69,351 | ||||||||||
Northrop Grumman Corp. (a) | 911 | 59,015 | ||||||||||
Precision Castparts Corp. | 475 | 66,125 | ||||||||||
Raytheon Co. | 1,247 | 57,786 | ||||||||||
Rockwell Collins, Inc. | 540 | 31,460 | ||||||||||
Spirit Aerosystems Holdings, Inc. (a)(b) | 345 | 7,179 | ||||||||||
United Technologies Corp. | 2,823 | 222,227 | ||||||||||
956,687 | ||||||||||||
AIR FREIGHT & LOGISTICS — 0.8% | ||||||||||||
C.H. Robinson Worldwide, Inc. (a) | 582 | 46,670 | ||||||||||
Expeditors International Washington, Inc. | 725 | 39,585 | ||||||||||
FedEx Corp. (a) | 988 | 91,894 | ||||||||||
United Parcel Service, Inc. (Class B) | 2,320 | 168,386 | ||||||||||
346,535 | ||||||||||||
AIRLINES — 0.2% | ||||||||||||
AMR Corp. (a)(b) | 875 | 6,816 | ||||||||||
Delta Air Lines, Inc. (b) | 2,468 | 31,097 | ||||||||||
Southwest Airlines Co. | 2,500 | 32,450 | ||||||||||
United Continental Holdings, Inc. (b) | 1,043 | 24,844 | ||||||||||
95,207 | ||||||||||||
AUTO COMPONENTS — 0.4% | ||||||||||||
BorgWarner, Inc. (a)(b) | 387 | 28,003 | ||||||||||
Johnson Controls, Inc. | 2,238 | 85,492 | ||||||||||
Lear Corp. (a)(b) | 120 | 11,845 | ||||||||||
The Goodyear Tire & Rubber Co. (b) | 803 | 9,516 | ||||||||||
TRW Automotive Holdings Corp. (b) | 300 | 15,810 | ||||||||||
150,666 | ||||||||||||
AUTOMOBILES — 0.7% | ||||||||||||
Ford Motor Co. (a)(b) | 11,392 | 191,271 | ||||||||||
General Motors Co. (b) | 1,800 | 66,348 | ||||||||||
Harley-Davidson, Inc. (a) | 807 | 27,979 | ||||||||||
285,598 | ||||||||||||
BEVERAGES — 2.3% | ||||||||||||
Brown-Forman Corp. (Class B) (a) | 390 | 27,152 | ||||||||||
Coca-Cola Enterprises, Inc. | 1,074 | 26,882 | ||||||||||
Constellation Brands, Inc. (Class A) (a)(b) | 649 | 14,375 | ||||||||||
Dr. Pepper Snapple Group, Inc. | 784 | 27,566 | ||||||||||
Hansen Natural Corp. (b) | 247 | 12,913 | ||||||||||
Molson Coors Brewing Co. (Class B) | 494 | 24,794 | ||||||||||
PepsiCo, Inc. | 5,237 | 342,133 | ||||||||||
The Coca-Cola Co. | 7,104 | 467,230 | ||||||||||
943,045 | ||||||||||||
BIOTECHNOLOGY — 1.4% | ||||||||||||
Alexion Pharmaceuticals, Inc. (a)(b) | 257 | 20,701 | ||||||||||
Amgen, Inc. (b) | 3,159 | 173,429 | ||||||||||
Amylin Pharmaceuticals, Inc. (a)(b) | 473 | 6,958 | ||||||||||
Biogen Idec, Inc. (a)(b) | 766 | 51,360 | ||||||||||
Celgene Corp. (b) | 1,530 | 90,484 | ||||||||||
Cephalon, Inc. (a)(b) | 231 | 14,257 | ||||||||||
Dendreon Corp. (a)(b) | 474 | 16,552 | ||||||||||
Genzyme Corp. (b) | 824 | 58,669 | ||||||||||
Gilead Sciences, Inc. (b) | 2,708 | 98,138 | ||||||||||
Human Genome Sciences, Inc. (a)(b) | 541 | 12,925 | ||||||||||
Talecris Biotherapeutics Holdings Corp. (b) | 162 | 3,775 | ||||||||||
United Therapeutics Corp. (a)(b) | 117 | 7,397 | ||||||||||
Vertex Pharmaceuticals, Inc. (a)(b) | 614 | 21,508 | ||||||||||
576,153 | ||||||||||||
BUILDING PRODUCTS — 0.0% | ||||||||||||
Masco Corp. (a) | 1,258 | 15,926 | ||||||||||
CAPITAL MARKETS — 2.5% | ||||||||||||
Affiliated Managers Group, Inc. (a)(b) | 139 | 13,792 | ||||||||||
Ameriprise Financial, Inc. | 817 | 47,018 | ||||||||||
BlackRock, Inc. | 318 | 60,604 | ||||||||||
E*TRADE Financial Corp. (a)(b) | 585 | 9,360 | ||||||||||
Eaton Vance Corp. (a) | 391 | 11,820 | ||||||||||
Federated Investors, Inc. (Class B) (a) | 313 | 8,191 | ||||||||||
Franklin Resources, Inc. | 505 | 56,161 | ||||||||||
Invesco, Ltd. | 1,489 | 35,825 | ||||||||||
Jefferies Group, Inc. (a) | 400 | 10,652 | ||||||||||
Legg Mason, Inc. | 477 | 17,301 | ||||||||||
Morgan Stanley | 4,585 | 124,758 | ||||||||||
Northern Trust Corp. (a) | 837 | 46,378 | ||||||||||
Owens Corning, Inc. (b) | 395 | 12,304 | ||||||||||
Raymond James Financial, Inc. (a) | 332 | 10,856 | ||||||||||
SEI Investments Co. | 457 | 10,872 | ||||||||||
State Street Corp. (c) | 1,691 | 78,361 | ||||||||||
T. Rowe Price Group, Inc. | 888 | 57,312 | ||||||||||
TD Ameritrade Holding Corp. | 824 | 15,648 | ||||||||||
The Bank of New York Mellon Corp. | 4,059 | 122,582 | ||||||||||
The Charles Schwab Corp. | 3,180 | 54,410 | ||||||||||
The Goldman Sachs Group, Inc. | 1,439 | 241,982 | ||||||||||
1,046,187 | ||||||||||||
CHEMICALS — 2.3% | ||||||||||||
Air Products & Chemicals, Inc. | 669 | 60,846 | ||||||||||
Airgas, Inc. | 236 | 14,741 | ||||||||||
Albemarle Corp. | 309 | 17,236 | ||||||||||
Ashland, Inc. | 195 | 9,918 | ||||||||||
Celanese Corp. (Series A) | 507 | 20,873 | ||||||||||
CF Industries Holdings, Inc. | 229 | 30,949 | ||||||||||
E. I. du Pont de Nemours & Co. | 3,004 | 149,840 | ||||||||||
Eastman Chemical Co. (a) | 249 | 20,936 | ||||||||||
Ecolab, Inc. | 744 | 37,512 | ||||||||||
FMC Corp. | 253 | 20,212 | ||||||||||
Huntsman Corp. | 386 | 6,025 | ||||||||||
International Flavors & Fragrances, Inc. | 268 | 14,898 | ||||||||||
Lubrizol Corp. (a) | 230 | 24,582 | ||||||||||
LyondellBasell Industries NV (b) | 1,200 | 41,280 | ||||||||||
Monsanto Co. | 1,757 | 122,358 |
See accompanying notes to financial statements.
12
Table of Contents
SPDR Dow Jones Large Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Nalco Holding Co. (a) | 367 | $ | 11,722 | |||||||||
PPG Industries, Inc. | 558 | 46,911 | ||||||||||
Praxair, Inc. | 964 | 92,033 | ||||||||||
Sigma-Aldrich Corp. (a) | 366 | 24,361 | ||||||||||
The Dow Chemical Co. | 3,844 | 131,234 | ||||||||||
The Mosaic Co. | 504 | 38,485 | ||||||||||
The Scotts Miracle-Gro Co. (Class A) (a) | 150 | 7,616 | ||||||||||
The Valspar Corp. | 311 | 10,723 | ||||||||||
955,291 | ||||||||||||
COMMERCIAL BANKS — 2.8% | ||||||||||||
BB&T Corp. | 2,347 | 61,703 | ||||||||||
BOK Financial Corp. (a) | 75 | 4,005 | ||||||||||
City National Corp. (a) | 141 | 8,652 | ||||||||||
Comerica, Inc. (a) | 603 | 25,471 | ||||||||||
Commerce Bancshares, Inc. | 227 | 9,011 | ||||||||||
Cullen/Frost Bankers, Inc. (a) | 191 | 11,674 | ||||||||||
Fifth Third Bancorp | 2,531 | 37,155 | ||||||||||
First Horizon National Corp. (a)(b) | 738 | 8,695 | ||||||||||
Huntington Bancshares, Inc. | 2,881 | 19,793 | ||||||||||
Keycorp (a) | 2,744 | 24,284 | ||||||||||
M&T Bank Corp. (a) | 372 | 32,383 | ||||||||||
Marshall & Ilsley Corp. | 1,470 | 10,172 | ||||||||||
PNC Financial Services Group, Inc. | 1,768 | 107,353 | ||||||||||
Regions Financial Corp. (a) | 4,216 | 29,512 | ||||||||||
SunTrust Banks, Inc. | 1,744 | 51,465 | ||||||||||
U.S. Bancorp | 6,330 | 170,720 | ||||||||||
Wells Fargo & Co. | 16,576 | 513,690 | ||||||||||
Zions Bancorporation (a) | 500 | 12,115 | ||||||||||
1,137,853 | ||||||||||||
COMMERCIAL SERVICES & SUPPLIES — 0.5% | ||||||||||||
Avery Dennison Corp. | 401 | 16,978 | ||||||||||
Cintas Corp. | 454 | 12,694 | ||||||||||
Copart, Inc. (b) | 205 | 7,657 | ||||||||||
Corrections Corp. of America (a)(b) | 437 | 10,951 | ||||||||||
Covanta Holding Corp. (a) | 413 | 7,099 | ||||||||||
Iron Mountain, Inc. (a) | 610 | 15,256 | ||||||||||
Pitney Bowes, Inc. (a) | 719 | 17,385 | ||||||||||
R.R. Donnelley & Sons Co. | 712 | 12,439 | ||||||||||
Republic Services, Inc. | 1,052 | 31,413 | ||||||||||
Stericycle, Inc. (a)(b) | 305 | 24,681 | ||||||||||
Waste Connections, Inc. (a) | 403 | 11,095 | ||||||||||
Waste Management, Inc. (a) | 1,522 | 56,116 | ||||||||||
223,764 | ||||||||||||
COMMUNICATIONS EQUIPMENT — 2.0% | ||||||||||||
Brocade Communications Systems, Inc. (b) | 1,177 | 6,226 | ||||||||||
Cisco Systems, Inc. (b) | 18,377 | 371,767 | ||||||||||
F5 Networks, Inc. (a)(b) | 224 | 29,156 | ||||||||||
Harris Corp. (a) | 462 | 20,929 | ||||||||||
Juniper Networks, Inc. (a)(b) | 1,796 | 66,308 | ||||||||||
Motorola, Inc. (b) | 7,169 | 65,023 | ||||||||||
QUALCOMM, Inc. | 5,296 | 262,099 | ||||||||||
Tellabs, Inc. | 1,059 | 7,180 | ||||||||||
828,688 | ||||||||||||
COMPUTERS & PERIPHERALS — 4.1% | ||||||||||||
Apple, Inc. (b) | 3,032 | 978,002 | ||||||||||
Dell, Inc. (b) | 5,862 | 79,430 | ||||||||||
EMC Corp. (b) | 6,730 | 154,117 | ||||||||||
Hewlett-Packard Co. | 7,517 | 316,466 | ||||||||||
NCR Corp. (a)(b) | 566 | 8,700 | ||||||||||
NetApp, Inc. (a)(b) | 1,110 | 61,006 | ||||||||||
SanDisk Corp. (b) | 769 | 38,342 | ||||||||||
Seagate Technology (b) | 1,640 | 24,649 | ||||||||||
Teradata Corp. (b) | 615 | 25,313 | ||||||||||
Western Digital Corp. (b) | 741 | 25,120 | ||||||||||
1,711,145 | ||||||||||||
CONSTRUCTION & ENGINEERING — 0.3% | ||||||||||||
Aecom Technology Corp. (b) | 326 | 9,118 | ||||||||||
Fluor Corp. | 614 | 40,684 | ||||||||||
Foster Wheeler AG (a)(b) | 300 | 10,356 | ||||||||||
Jacobs Engineering Group, Inc. (b) | 417 | 19,119 | ||||||||||
KBR, Inc. | 559 | 17,033 | ||||||||||
Quanta Services, Inc. (b) | 659 | 13,127 | ||||||||||
The Shaw Group, Inc. (b) | 349 | 11,946 | ||||||||||
URS Corp. (b) | 288 | 11,984 | ||||||||||
133,367 | ||||||||||||
CONSTRUCTION MATERIALS — 0.1% | ||||||||||||
Martin Marietta Materials, Inc. (a) | 137 | 12,637 | ||||||||||
Vulcan Materials Co. (a) | 391 | 17,345 | ||||||||||
29,982 | ||||||||||||
CONSUMER FINANCE — 0.7% | ||||||||||||
American Express Co. | 3,578 | 153,568 | ||||||||||
Capital One Financial Corp. | 1,498 | 63,755 | ||||||||||
Discover Financial Services | 1,851 | 34,299 | ||||||||||
SLM Corp. (b) | 1,587 | 19,980 | ||||||||||
271,602 | ||||||||||||
CONTAINERS & PACKAGING — 0.3% | ||||||||||||
AptarGroup, Inc. | 222 | 10,560 | ||||||||||
Ball Corp. | 320 | 21,776 | ||||||||||
Bemis Co., Inc. | 345 | 11,268 | ||||||||||
Crown Holdings, Inc. (b) | 545 | 18,192 | ||||||||||
Owens-Illinois, Inc. (b) | 583 | 17,898 | ||||||||||
Sealed Air Corp. (a) | 545 | 13,870 | ||||||||||
Smurfit-Stone Container Corp. (b) | 168 | 4,301 | ||||||||||
Sonoco Products Co. | 334 | 11,246 | ||||||||||
109,111 | ||||||||||||
DISTRIBUTORS — 0.1% | ||||||||||||
Genuine Parts Co. | 552 | 28,340 | ||||||||||
DIVERSIFIED CONSUMER SERVICES — 0.1% | ||||||||||||
Apollo Group, Inc. (b) | 452 | 17,850 | ||||||||||
DeVry, Inc. | 210 | 10,076 | ||||||||||
H&R Block, Inc. (a) | 1,152 | 13,720 | ||||||||||
Strayer Education, Inc. | 47 | 7,154 | ||||||||||
Weight Watchers International, Inc. (a) | 129 | 4,836 | ||||||||||
53,636 | ||||||||||||
DIVERSIFIED FINANCIAL SERVICES — 4.0% | ||||||||||||
Bank of America Corp. | 32,927 | 439,246 | ||||||||||
CBOE Holdings, Inc. | 39 | 892 | ||||||||||
CIT Group, Inc. (b) | 607 | 28,590 | ||||||||||
Citigroup, Inc. (b) | 96,266 | 455,338 |
See accompanying notes to financial statements.
13
Table of Contents
SPDR Dow Jones Large Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
CME Group, Inc. (a) | 226 | $ | 72,716 | |||||||||
Intercontinental Exchange, Inc. (b) | 246 | 29,311 | ||||||||||
JPMorgan Chase & Co. | 12,955 | 549,551 | ||||||||||
Leucadia National Corp. (a) | 568 | 16,574 | ||||||||||
Moody’s Corp. (a) | 656 | 17,410 | ||||||||||
MSCI, Inc. (Class A) (b) | 397 | 15,467 | ||||||||||
NYSE Euronext (a) | 879 | 26,352 | ||||||||||
The NASDAQ OMX Group, Inc. (b) | 534 | 12,661 | ||||||||||
1,664,108 | ||||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 2.6% | ||||||||||||
AT&T, Inc. | 19,757 | 580,461 | ||||||||||
CenturyLink, Inc. (a) | 1,015 | 46,863 | ||||||||||
Frontier Communications Corp. (a) | 3,380 | 32,887 | ||||||||||
Qwest Communications International, Inc. | 4,856 | 36,954 | ||||||||||
Verizon Communications, Inc. | 9,327 | 333,720 | ||||||||||
Windstream Corp. (a) | 1,508 | 21,021 | ||||||||||
1,051,906 | ||||||||||||
ELECTRIC UTILITIES — 0.1% | ||||||||||||
DPL, Inc. (a) | 383 | 9,847 | ||||||||||
ITC Holdings Corp. (a) | 167 | 10,351 | ||||||||||
Westar Energy, Inc. (a) | 366 | 9,208 | ||||||||||
29,406 | ||||||||||||
ELECTRICAL EQUIPMENT — 0.7% | ||||||||||||
AMETEK, Inc. (a) | 536 | 21,018 | ||||||||||
Babcock & Wilcox Co. (a)(b) | 387 | 9,903 | ||||||||||
Cooper Industries PLC | 500 | 29,145 | ||||||||||
Emerson Electric Co. | 2,505 | 143,211 | ||||||||||
Hubbell, Inc. (Class B) | 182 | 10,944 | ||||||||||
Rockwell Automation, Inc. | 427 | 30,620 | ||||||||||
Roper Industries, Inc. (a) | 302 | 23,082 | ||||||||||
267,923 | ||||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 0.9% | ||||||||||||
Agilent Technologies, Inc. (b) | 1,219 | 50,503 | ||||||||||
Amphenol Corp. (Class A) (a) | 603 | 31,826 | ||||||||||
Arrow Electronics, Inc. (b) | 410 | 14,042 | ||||||||||
Avnet, Inc. (b) | 500 | 16,515 | ||||||||||
Corning, Inc. | 5,097 | 98,474 | ||||||||||
Dolby Laboratories, Inc. (Class A) (a)(b) | 180 | 12,006 | ||||||||||
FLIR Systems, Inc. (a)(b) | 470 | 13,983 | ||||||||||
Ingram Micro, Inc. (Class A) (b) | 468 | 8,934 | ||||||||||
Itron, Inc. (b) | 104 | 5,767 | ||||||||||
Jabil Circuit, Inc. | 544 | 10,929 | ||||||||||
Mettler-Toledo International, Inc. (b) | 112 | 16,936 | ||||||||||
Molex, Inc. (a) | 452 | 10,269 | ||||||||||
Trimble Navigation, Ltd. (a)(b) | 433 | 17,290 | ||||||||||
Tyco Electronics, Ltd. | 1,400 | 49,560 | ||||||||||
357,034 | ||||||||||||
ENERGY EQUIPMENT & SERVICES — 2.3% | ||||||||||||
Baker Hughes, Inc. | 1,449 | 82,839 | ||||||||||
Cameron International Corp. (b) | 816 | 41,396 | ||||||||||
Diamond Offshore Drilling, Inc. (a) | 224 | 14,979 | ||||||||||
FMC Technologies, Inc. (b) | 398 | 35,386 | ||||||||||
Halliburton Co. | 3,036 | 123,960 | ||||||||||
Helmerich & Payne, Inc. (a) | 317 | 15,368 | ||||||||||
Nabors Industries, Ltd. (b) | 970 | 22,756 | ||||||||||
National-Oilwell Varco, Inc. | 1,390 | 93,477 | ||||||||||
Noble Corp. (a) | 800 | 28,616 | ||||||||||
Oceaneering International, Inc. (b) | 152 | 11,192 | ||||||||||
Patterson-UTI Energy, Inc. (a) | 530 | 11,422 | ||||||||||
Pride International, Inc. (b) | 599 | 19,767 | ||||||||||
Rowan Cos., Inc. (a)(b) | 372 | 12,987 | ||||||||||
Schlumberger, Ltd. | 4,507 | 376,334 | ||||||||||
Tidewater, Inc. (a) | 178 | 9,584 | ||||||||||
Weatherford International, Ltd. (b) | 2,400 | 54,720 | ||||||||||
954,783 | ||||||||||||
FOOD & STAPLES RETAILING — 2.2% | ||||||||||||
Costco Wholesale Corp. | 1,458 | 105,282 | ||||||||||
CVS Caremark Corp. | 4,569 | 158,864 | ||||||||||
Safeway, Inc. (a) | 1,279 | 28,765 | ||||||||||
SUPERVALU, Inc. (a) | 723 | 6,963 | ||||||||||
Sysco Corp. (a) | 2,003 | 58,888 | ||||||||||
The Kroger Co. | 2,087 | 46,665 | ||||||||||
Wal-Mart Stores, Inc. | 6,715 | 362,140 | ||||||||||
Walgreen Co. | 3,164 | 123,269 | ||||||||||
Whole Foods Market, Inc. (a)(b) | 384 | 19,427 | ||||||||||
910,263 | ||||||||||||
FOOD PRODUCTS — 1.7% | ||||||||||||
Archer-Daniels-Midland Co. | 1,994 | 59,979 | ||||||||||
Bunge, Ltd. | 514 | 33,677 | ||||||||||
Campbell Soup Co. (a) | 690 | 23,977 | ||||||||||
ConAgra Foods, Inc. | 1,543 | 34,841 | ||||||||||
Flowers Foods, Inc. (a) | 290 | 7,804 | ||||||||||
General Mills, Inc. | 2,008 | 71,465 | ||||||||||
Green Mountain Coffee Roasters, Inc. (a)(b) | 319 | 10,482 | ||||||||||
H.J. Heinz Co. (a) | 1,066 | 52,724 | ||||||||||
Hormel Foods Corp. | 252 | 12,918 | ||||||||||
Kellogg Co. (a) | 813 | 41,528 | ||||||||||
Kraft Foods, Inc. (Class A) (a) | 5,371 | 169,240 | ||||||||||
McCormick & Co., Inc. (a) | 392 | 18,240 | ||||||||||
Mead Johnson Nutrition Co. | 633 | 39,404 | ||||||||||
Ralcorp Holdings, Inc. (a)(b) | 195 | 12,677 | ||||||||||
Sara Lee Corp. | 2,038 | 35,685 | ||||||||||
Smithfield Foods, Inc. (a)(b) | 439 | 9,057 | ||||||||||
The Hershey Co. (a) | 553 | 26,074 | ||||||||||
The J.M. Smucker Co. | 404 | 26,523 | ||||||||||
Tyson Foods, Inc. (Class A) | 991 | 17,065 | ||||||||||
703,360 | ||||||||||||
GAS UTILITIES — 0.1% | ||||||||||||
AGL Resources, Inc. | 263 | 9,429 | ||||||||||
Atmos Energy Corp. (a) | 310 | 9,672 | ||||||||||
Energen Corp. | 214 | 10,328 | ||||||||||
Questar Corp. (a) | 589 | 10,254 | ||||||||||
UGI Corp. | 364 | 11,495 | ||||||||||
51,178 | ||||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 2.0% | ||||||||||||
Alere, Inc. (a)(b) | 258 | 9,443 | ||||||||||
Baxter International, Inc. | 1,991 | 100,784 | ||||||||||
Beckman Coulter, Inc. | 199 | 14,971 | ||||||||||
Becton, Dickinson & Co. (a) | 673 | 56,882 |
See accompanying notes to financial statements.
14
Table of Contents
SPDR Dow Jones Large Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Boston Scientific Corp. (a)(b) | 5,012 | $ | 37,941 | |||||||||
C.R. Bard, Inc. (a) | 340 | 31,202 | ||||||||||
CareFusion Corp. (b) | 605 | 15,548 | ||||||||||
Covidien PLC | 1,600 | 73,056 | ||||||||||
DENTSPLY International, Inc. (a) | 463 | 15,821 | ||||||||||
Edwards Lifesciences Corp. (b) | 383 | 30,962 | ||||||||||
Gen-Probe, Inc. (a)(b) | 186 | 10,853 | ||||||||||
Hologic, Inc. (a)(b) | 859 | 16,166 | ||||||||||
Hospira, Inc. (b) | 542 | 30,184 | ||||||||||
IDEXX Laboratories, Inc. (a)(b) | 208 | 14,398 | ||||||||||
Intuitive Surgical, Inc. (a)(b) | 128 | 32,992 | ||||||||||
Kinetic Concepts, Inc. (a)(b) | 167 | 6,994 | ||||||||||
Medtronic, Inc. | 3,573 | 132,523 | ||||||||||
ResMed, Inc. (a)(b) | 512 | 17,736 | ||||||||||
St. Jude Medical, Inc. (b) | 1,078 | 46,084 | ||||||||||
Stryker Corp. (a) | 1,034 | 55,526 | ||||||||||
Teleflex, Inc. (a) | 135 | 7,264 | ||||||||||
Varian Medical Systems, Inc. (a)(b) | 429 | 29,721 | ||||||||||
Zimmer Holdings, Inc. (b) | 681 | 36,556 | ||||||||||
823,607 | ||||||||||||
HEALTH CARE PROVIDERS & SERVICES — 2.0% | ||||||||||||
Aetna, Inc. | 1,392 | 42,470 | ||||||||||
AmerisourceBergen Corp. | 951 | 32,448 | ||||||||||
Cardinal Health, Inc. | 1,207 | 46,240 | ||||||||||
CIGNA Corp. | 937 | 34,351 | ||||||||||
Community Health Systems, Inc. (b) | 317 | 11,846 | ||||||||||
Coventry Health Care, Inc. (b) | 505 | 13,332 | ||||||||||
DaVita, Inc. (b) | 363 | 25,225 | ||||||||||
Express Scripts, Inc. (Class A) (b) | 1,639 | 88,588 | ||||||||||
Henry Schein, Inc. (a)(b) | 316 | 19,399 | ||||||||||
Humana, Inc. (b) | 580 | 31,749 | ||||||||||
Laboratory Corp. of America Holdings (a)(b) | 365 | 32,091 | ||||||||||
Lincare Holdings, Inc. (a) | 373 | 10,008 | ||||||||||
McKesson Corp. | 835 | 58,767 | ||||||||||
Medco Health Solutions, Inc. (b) | 1,409 | 86,330 | ||||||||||
Omnicare, Inc. | 360 | 9,140 | ||||||||||
Patterson Cos., Inc. (a) | 338 | 10,353 | ||||||||||
Quest Diagnostics, Inc. (a) | 493 | 26,607 | ||||||||||
UnitedHealth Group, Inc. | 3,734 | 134,835 | ||||||||||
Universal Health Services, Inc. (Class B) | 314 | 13,634 | ||||||||||
WellPoint, Inc. (b) | 1,334 | 75,851 | ||||||||||
803,264 | ||||||||||||
HEALTH CARE TECHNOLOGY — 0.1% | ||||||||||||
Cerner Corp. (a)(b) | 215 | 20,369 | ||||||||||
HOTELS, RESTAURANTS & LEISURE — 1.9% | ||||||||||||
Carnival Corp. | 1,344 | 61,972 | ||||||||||
Chipotle Mexican Grill, Inc. (a)(b) | 106 | 22,542 | ||||||||||
Darden Restaurants, Inc. (a) | 514 | 23,870 | ||||||||||
Hyatt Hotels Corp. (Class A) (b) | 131 | 5,995 | ||||||||||
International Game Technology (a) | 1,019 | 18,026 | ||||||||||
Las Vegas Sands Corp. (b) | 1,450 | 66,627 | ||||||||||
Marriott International, Inc. (Class A) (a) | 1,046 | 43,451 | ||||||||||
McDonald’s Corp. | 3,555 | 272,882 | ||||||||||
MGM MIRAGE, Inc. (a)(b) | 839 | 12,459 | ||||||||||
Penn National Gaming, Inc. (a)(b) | 296 | 10,404 | ||||||||||
Royal Caribbean Cruises, Ltd. (b) | 468 | 21,996 | ||||||||||
Starbucks Corp. | 2,488 | 79,939 | ||||||||||
Starwood Hotels & Resorts Worldwide, Inc. (a) | 579 | 35,192 | ||||||||||
Wyndham Worldwide Corp. | 527 | 15,789 | ||||||||||
Wynn Resorts, Ltd. | 242 | 25,129 | ||||||||||
Yum! Brands, Inc. | 1,573 | 77,156 | ||||||||||
793,429 | ||||||||||||
HOUSEHOLD DURABLES — 0.5% | ||||||||||||
D.R. Horton, Inc. (a) | 930 | 11,095 | ||||||||||
Fortune Brands, Inc. | 520 | 31,330 | ||||||||||
Garmin, Ltd. (a) | 417 | 12,923 | ||||||||||
Harman International Industries, Inc. (b) | 180 | 8,334 | ||||||||||
Leggett & Platt, Inc. | 546 | 12,427 | ||||||||||
Lennar Corp. (Class A) | 393 | 7,369 | ||||||||||
Mohawk Industries, Inc. (b) | 183 | 10,387 | ||||||||||
Newell Rubbermaid, Inc. | 939 | 17,071 | ||||||||||
NVR, Inc. (b) | 22 | 15,202 | ||||||||||
Pulte Group, Inc. (a)(b) | 1,089 | 8,189 | ||||||||||
Stanley Black & Decker, Inc. | 538 | 35,976 | ||||||||||
Toll Brothers, Inc. (a)(b) | 457 | 8,683 | ||||||||||
Whirlpool Corp. (a) | 252 | 22,385 | ||||||||||
201,371 | ||||||||||||
HOUSEHOLD PRODUCTS — 2.1% | ||||||||||||
Church & Dwight Co., Inc. (a) | 236 | 16,289 | ||||||||||
Colgate-Palmolive Co. | 1,557 | 125,136 | ||||||||||
Energizer Holdings, Inc. (b) | 181 | 13,195 | ||||||||||
Kimberly-Clark Corp. | 1,309 | 82,519 | ||||||||||
Procter & Gamble Co. | 9,305 | 598,591 | ||||||||||
The Clorox Co. | 472 | 29,868 | ||||||||||
865,598 | ||||||||||||
INDUSTRIAL CONGLOMERATES — 2.3% | ||||||||||||
3M Co. | 2,194 | 189,342 | ||||||||||
General Electric Co. | 35,395 | 647,374 | ||||||||||
McDermott International, Inc. (b) | 775 | 16,035 | ||||||||||
Textron, Inc. (a) | 815 | 19,267 | ||||||||||
Tyco International, Ltd. | 1,600 | 66,304 | ||||||||||
938,322 | ||||||||||||
INSURANCE — 4.1% | ||||||||||||
ACE, Ltd. | 1,100 | 68,475 | ||||||||||
AFLAC, Inc. | 1,585 | 89,441 | ||||||||||
Alleghany Corp. (b) | 15 | 4,595 | ||||||||||
Allied World Assurance Company Holdings, Ltd. (a) | 115 | 6,836 | ||||||||||
American Financial Group, Inc. | 262 | 8,460 | ||||||||||
American International Group, Inc. (a)(b) | 400 | 23,048 | ||||||||||
American National Insurance Co. | 33 | 2,825 | ||||||||||
AON Corp. | 990 | 45,550 | ||||||||||
Arch Capital Group, Ltd. (b) | 169 | 14,880 | ||||||||||
Assurant, Inc. | 403 | 15,524 | ||||||||||
Assured Guaranty, Ltd. (a) | 476 | 8,425 | ||||||||||
Axis Capital Holdings, Ltd. | 381 | 13,670 | ||||||||||
Berkshire Hathaway, Inc. (Class B) (b) | 6,341 | 507,977 | ||||||||||
Brown & Brown, Inc. | 384 | 9,193 |
See accompanying notes to financial statements.
15
Table of Contents
SPDR Dow Jones Large Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Chubb Corp. (a) | 1,025 | $ | 61,131 | |||||||||
Cincinnati Financial Corp. (a) | 513 | 16,257 | ||||||||||
CNA Financial Corp. (b) | 92 | 2,489 | ||||||||||
Everest Re Group, Ltd. | 199 | 16,879 | ||||||||||
Fidelity National Financial, Inc. (Class A) (a) | 684 | 9,357 | ||||||||||
Genworth Financial, Inc. (Class A) (b) | 1,729 | 22,719 | ||||||||||
Hartford Financial Services Group, Inc. (a) | 1,467 | 38,861 | ||||||||||
HCC Insurance Holdings, Inc. | 393 | 11,373 | ||||||||||
Lincoln National Corp. | 1,033 | 28,728 | ||||||||||
Loews Corp. | 1,111 | 43,229 | ||||||||||
Markel Corp. (a)(b) | 32 | 12,100 | ||||||||||
Marsh & McLennan Cos., Inc. | 1,737 | 47,490 | ||||||||||
MetLife, Inc. | 2,343 | 104,123 | ||||||||||
Old Republic International Corp. (a) | 788 | 10,740 | ||||||||||
PartnerRe, Ltd. | 242 | 19,445 | ||||||||||
Principal Financial Group, Inc. (a) | 1,057 | 34,416 | ||||||||||
Prudential Financial, Inc. | 1,514 | 88,887 | ||||||||||
Reinsurance Group of America, Inc. (a) | 246 | 13,213 | ||||||||||
RenaissanceRe Holdings, Ltd. | 207 | 13,184 | ||||||||||
The Allstate Corp. | 1,645 | 52,443 | ||||||||||
The Hanover Insurance Group, Inc. | 180 | 8,410 | ||||||||||
The Progressive Corp. | 2,156 | 42,840 | ||||||||||
The Travelers Cos., Inc. | 1,480 | 82,451 | ||||||||||
Torchmark Corp. (a) | 300 | 17,922 | ||||||||||
Transatlantic Holdings, Inc. | 179 | 9,240 | ||||||||||
Unum Group (a) | 1,125 | 27,247 | ||||||||||
Validus Holdings, Ltd. (a) | 228 | 6,979 | ||||||||||
W.R. Berkley Corp. (a) | 489 | 13,389 | ||||||||||
Wesco Financial Corp. | 4 | 1,474 | ||||||||||
White Mountains Insurance Group, Ltd. | 28 | 9,397 | ||||||||||
XL Group PLC | 1,070 | 23,347 | ||||||||||
1,708,659 | ||||||||||||
INTERNET & CATALOG RETAIL — 0.8% | ||||||||||||
Amazon.com, Inc. (b) | 1,148 | 206,640 | ||||||||||
Expedia, Inc. (a) | 703 | 17,638 | ||||||||||
Liberty Media Corp. — Interactive (Class A) (b) | 2,084 | 32,865 | ||||||||||
Netflix, Inc. (a)(b) | 155 | 27,233 | ||||||||||
Priceline.com, Inc. (b) | 161 | 64,328 | ||||||||||
348,704 | ||||||||||||
INTERNET SOFTWARE & SERVICES — 1.7% | ||||||||||||
Akamai Technologies, Inc. (b) | 566 | 26,630 | ||||||||||
AOL, Inc. (a)(b) | 364 | 8,630 | ||||||||||
eBay, Inc. (b) | 3,729 | 103,778 | ||||||||||
Equinix, Inc. (a)(b) | 106 | 8,614 | ||||||||||
Google, Inc. (Class A) (b) | 768 | 456,169 | ||||||||||
IAC/InterActive Corp. (b) | 277 | 7,950 | ||||||||||
VeriSign, Inc. | 659 | 21,530 | ||||||||||
Yahoo!, Inc. (a)(b) | 4,195 | 69,763 | ||||||||||
703,064 | ||||||||||||
IT SERVICES — 3.1% | ||||||||||||
Accenture PLC (Class A) | 2,100 | 101,829 | ||||||||||
Alliance Data Systems Corp. (a)(b) | 176 | 12,501 | ||||||||||
Automatic Data Processing, Inc. (a) | 1,636 | 75,714 | ||||||||||
Broadridge Financial Solutions, Inc. | 487 | 10,680 | ||||||||||
Cognizant Technology Solutions Corp. (Class A) (b) | 977 | 71,604 | ||||||||||
Computer Sciences Corp. | 515 | 25,544 | ||||||||||
CoreLogic, Inc. | 308 | 5,704 | ||||||||||
DST Systems, Inc. | 141 | 6,253 | ||||||||||
Fidelity National Information Services, Inc. | 737 | 20,186 | ||||||||||
Fiserv, Inc. (a)(b) | 462 | 27,055 | ||||||||||
Genpact, Ltd. (b) | 211 | 3,207 | ||||||||||
Global Payments, Inc. (a) | 270 | 12,477 | ||||||||||
International Business Machines Corp. | 4,092 | 600,542 | ||||||||||
Lender Processing Services, Inc. (a) | 321 | 9,476 | ||||||||||
Mastercard, Inc. (Class A) | 328 | 73,508 | ||||||||||
Paychex, Inc. (a) | 1,105 | 34,156 | ||||||||||
SAIC, Inc. (b) | 1,209 | 19,175 | ||||||||||
The Western Union Co. | 2,154 | 40,000 | ||||||||||
Total System Services, Inc. (a) | 682 | 10,489 | ||||||||||
Visa, Inc. (Class A) (a) | 1,657 | 116,620 | ||||||||||
1,276,720 | ||||||||||||
LEISURE EQUIPMENT & PRODUCTS — 0.1% | ||||||||||||
Hasbro, Inc. | 435 | 20,523 | ||||||||||
Mattel, Inc. | 1,220 | 31,025 | ||||||||||
51,548 | ||||||||||||
LIFE SCIENCES TOOLS & SERVICES — 0.5% | ||||||||||||
Charles River Laboratories International, Inc. (a)(b) | 240 | 8,530 | ||||||||||
Covance, Inc. (a)(b) | 222 | 11,413 | ||||||||||
Illumina, Inc. (a)(b) | 419 | 26,539 | ||||||||||
Life Technologies Corp. (b) | 580 | 32,190 | ||||||||||
PerkinElmer, Inc. | 408 | 10,534 | ||||||||||
Pharmaceutical Product Development, Inc. | 346 | 9,390 | ||||||||||
Techne Corp. (a) | 127 | 8,340 | ||||||||||
Thermo Fisher Scientific, Inc. (b) | 1,324 | 73,297 | ||||||||||
Waters Corp. (b) | 339 | 26,344 | ||||||||||
206,577 | ||||||||||||
MACHINERY — 2.3% | ||||||||||||
AGCO Corp. (a)(b) | 305 | 15,451 | ||||||||||
Bucyrus International, Inc. (a) | 216 | 19,310 | ||||||||||
Caterpillar, Inc. | 1,887 | 176,737 | ||||||||||
Cummins, Inc. | 590 | 64,906 | ||||||||||
Danaher Corp. | 1,673 | 78,916 | ||||||||||
Deere & Co. | 1,397 | 116,021 | ||||||||||
Donaldson Co., Inc. (a) | 231 | 13,463 | ||||||||||
Dover Corp. | 643 | 37,583 | ||||||||||
Eaton Corp. | 559 | 56,744 | ||||||||||
Flowserve Corp. | 196 | 23,367 | ||||||||||
Illinois Tool Works, Inc. (a) | 1,401 | 74,813 | ||||||||||
Ingersoll-Rand PLC (a) | 1,000 | 47,090 | ||||||||||
Joy Global, Inc. | 364 | 31,577 | ||||||||||
Lincoln Electric Holdings, Inc. | 139 | 9,073 | ||||||||||
Navistar International Corp. (b) | 219 | 12,682 | ||||||||||
Oshkosh Corp. (a)(b) | 241 | 8,493 | ||||||||||
PACCAR, Inc. (a) | 1,170 | 67,181 |
See accompanying notes to financial statements.
16
Table of Contents
SPDR Dow Jones Large Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Pall Corp. | 409 | $ | 20,278 | |||||||||
Parker-Hannifin Corp. | 545 | 47,034 | ||||||||||
Pentair, Inc. | 331 | 12,085 | ||||||||||
SPX Corp. | 186 | 13,297 | ||||||||||
The Timken Co. | 200 | 9,546 | ||||||||||
955,647 | ||||||||||||
MEDIA — 3.1% | ||||||||||||
Cablevision Systems Corp. (Class A) | 776 | 26,260 | ||||||||||
CBS Corp. | 2,078 | 39,586 | ||||||||||
Clear Channel Outdoor Holdings, Inc. (Class A) (b) | 137 | 1,923 | ||||||||||
Comcast Corp. (Class A) | 9,338 | 205,156 | ||||||||||
DIRECTV (Class A) (b) | 2,773 | 110,726 | ||||||||||
Discovery Communications, Inc. (Series A) (a)(b) | 954 | 39,782 | ||||||||||
DISH Network Corp. (Class A) (b) | 723 | 14,214 | ||||||||||
DreamWorks Animation SKG, Inc. (Class A) (a)(b) | 184 | 5,422 | ||||||||||
Gannett Co., Inc. (a) | 652 | 9,839 | ||||||||||
John Wiley & Sons, Inc. (Class A) | 171 | 7,736 | ||||||||||
Liberty Global, Inc. (Series A) (a)(b) | 839 | 29,684 | ||||||||||
Liberty Media — Starz (Series A) (b) | 175 | 11,634 | ||||||||||
Liberty Media Corp. — Capital (Class A) (a)(b) | 200 | 12,512 | ||||||||||
News Corp. (Class A) | 7,881 | 114,747 | ||||||||||
Omnicom Group, Inc. | 1,056 | 48,365 | ||||||||||
Scripps Networks Interactive (Class A) | 277 | 14,335 | ||||||||||
Sirius XM Radio, Inc. (a)(b) | 11,977 | 19,642 | ||||||||||
The Interpublic Group of Cos., Inc. (a)(b) | 1,654 | 17,565 | ||||||||||
The McGraw-Hill Cos., Inc. (a) | 1,097 | 39,942 | ||||||||||
The Walt Disney Co. | 5,874 | 220,334 | ||||||||||
The Washington Post Co. (Class B) (a) | 20 | 8,790 | ||||||||||
Time Warner Cable, Inc. | 1,171 | 77,321 | ||||||||||
Time Warner, Inc. | 3,747 | 120,541 | ||||||||||
Viacom, Inc. (Class B) | 1,825 | 72,288 | ||||||||||
Virgin Media, Inc. (a) | 1,007 | 27,431 | ||||||||||
1,295,775 | ||||||||||||
METALS & MINING — 1.3% | ||||||||||||
Alcoa, Inc. | 3,270 | 50,325 | ||||||||||
Allegheny Technologies, Inc. (a) | 320 | 17,658 | ||||||||||
Cliffs Natural Resources, Inc. (a) | 452 | 35,261 | ||||||||||
Freeport-McMoRan Copper & Gold, Inc. | 1,514 | 181,816 | ||||||||||
Newmont Mining Corp. | 1,615 | 99,210 | ||||||||||
Nucor Corp. (a) | 977 | 42,812 | ||||||||||
Reliance Steel & Aluminum Co. | 221 | 11,293 | ||||||||||
Southern Copper Corp. | 762 | 37,140 | ||||||||||
Steel Dynamics, Inc. (a) | 620 | 11,346 | ||||||||||
Titanium Metals Corp. (a)(b) | 200 | 3,436 | ||||||||||
United States Steel Corp. | 481 | 28,100 | ||||||||||
Walter Energy, Inc. | 179 | 22,883 | ||||||||||
541,280 | ||||||||||||
MULTI-UTILITIES — 3.6% | ||||||||||||
Allegheny Energy, Inc. | 575 | 13,938 | ||||||||||
Alliant Energy Corp. | 378 | 13,899 | ||||||||||
Ameren Corp. | 693 | 19,536 | ||||||||||
American Electric Power Co., Inc. | 1,620 | 58,288 | ||||||||||
American Water Works Co., Inc. | 564 | 14,263 | ||||||||||
Aqua America, Inc. | �� | 454 | 10,206 | |||||||||
Calpine Corp. (a)(b) | 1,216 | 16,221 | ||||||||||
CenterPoint Energy, Inc. | 1,200 | 18,864 | ||||||||||
CMS Energy Corp. | 749 | 13,931 | ||||||||||
Consolidated Edison, Inc. (a) | 924 | 45,803 | ||||||||||
Constellation Energy Group, Inc. | 607 | 18,592 | ||||||||||
Dominion Resources, Inc. | 1,960 | 83,731 | ||||||||||
DTE Energy Co. | 559 | 25,334 | ||||||||||
Duke Energy Corp. | 4,416 | 78,649 | ||||||||||
Edison International (a) | 1,022 | 39,449 | ||||||||||
El Paso Corp. | 2,410 | 33,162 | ||||||||||
Entergy Corp. | 642 | 45,473 | ||||||||||
Exelon Corp. (a) | 2,170 | 90,359 | ||||||||||
FirstEnergy Corp. (a) | 1,033 | 38,242 | ||||||||||
Integrys Energy Group, Inc. (a) | 263 | 12,758 | ||||||||||
MDU Resources Group, Inc. | 570 | 11,554 | ||||||||||
National Fuel Gas Co. | 229 | 15,027 | ||||||||||
NextEra Energy, Inc. | 1,374 | 71,434 | ||||||||||
NiSource, Inc. | 921 | 16,228 | ||||||||||
Northeast Utilities | 629 | 20,052 | ||||||||||
NRG Energy, Inc. (a)(b) | 885 | 17,293 | ||||||||||
NSTAR (a) | 361 | 15,230 | ||||||||||
NV Energy, Inc. | 795 | 11,170 | ||||||||||
OGE Energy Corp. | 321 | 14,618 | ||||||||||
Oneok, Inc. | 336 | 18,638 | ||||||||||
Pepco Holdings, Inc. | 732 | 13,359 | ||||||||||
PG&E Corp. | 1,239 | 59,274 | ||||||||||
Pinnacle West Capital Corp. | 345 | 14,300 | ||||||||||
PPL Corp. | 1,665 | 43,823 | ||||||||||
Progress Energy, Inc. | 984 | 42,784 | ||||||||||
Public Service Enterprise Group, Inc. | 1,728 | 54,968 | ||||||||||
SCANA Corp. (a) | 376 | 15,266 | ||||||||||
Sempra Energy | 767 | 40,252 | ||||||||||
Southern Co. | 2,699 | 103,183 | ||||||||||
Spectra Energy Corp. | 2,226 | 55,628 | ||||||||||
TECO Energy, Inc. (a) | 679 | 12,086 | ||||||||||
The AES Corp. (b) | 2,570 | 31,303 | ||||||||||
The Williams Cos., Inc. | 1,970 | 48,698 | ||||||||||
Vectren Corp. | 276 | 7,005 | ||||||||||
Wisconsin Energy Corp. | 401 | 23,603 | ||||||||||
Xcel Energy, Inc. | 1,520 | 35,796 | ||||||||||
1,503,270 | ||||||||||||
MULTILINE RETAIL — 0.8% | ||||||||||||
Dollar General Corp. (b) | 117 | 3,588 | ||||||||||
Dollar Tree, Inc. (b) | 464 | 26,021 | ||||||||||
Family Dollar Stores, Inc. | 450 | 22,370 | ||||||||||
J.C. Penney Co., Inc. (a) | 660 | 21,325 | ||||||||||
Kohl’s Corp. (b) | 976 | 53,036 | ||||||||||
Macy’s, Inc. | 1,422 | 35,977 | ||||||||||
Nordstrom, Inc. (a) | 580 | 24,580 | ||||||||||
Sears Holdings Corp. (a)(b) | 144 | 10,620 | ||||||||||
Target Corp. | 2,119 | 127,415 | ||||||||||
324,932 | ||||||||||||
OFFICE ELECTRONICS — 0.1% | ||||||||||||
Xerox Corp. | 4,507 | 51,921 | ||||||||||
See accompanying notes to financial statements.
17
Table of Contents
SPDR Dow Jones Large Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
OIL, GAS & CONSUMABLE FUELS — 9.1% | ||||||||||||
Alpha Natural Resources, Inc. (b) | 354 | $ | 21,251 | |||||||||
Anadarko Petroleum Corp. | 1,629 | 124,065 | ||||||||||
Apache Corp. | 1,168 | 139,261 | ||||||||||
Arch Coal, Inc. (a) | 468 | 16,408 | ||||||||||
Cabot Oil & Gas Corp. | 364 | 13,777 | ||||||||||
Chesapeake Energy Corp. (a) | 2,223 | 57,598 | ||||||||||
Chevron Corp. | 6,651 | 606,904 | ||||||||||
Cimarex Energy Co. (a) | 275 | 24,346 | ||||||||||
Cobalt International Energy, Inc. (a)(b) | 316 | 3,858 | ||||||||||
Concho Resources, Inc. (b) | 300 | 26,301 | ||||||||||
ConocoPhillips | 4,608 | 313,805 | ||||||||||
Consol Energy, Inc. | 804 | 39,187 | ||||||||||
Continental Resources, Inc. (a)(b) | 115 | 6,768 | ||||||||||
Denbury Resources, Inc. (b) | 1,302 | 24,855 | ||||||||||
Devon Energy Corp. | 1,323 | 103,869 | ||||||||||
EOG Resources, Inc. | 832 | 76,053 | ||||||||||
EQT Corp. | 437 | 19,595 | ||||||||||
EXCO Resources, Inc. (a) | 583 | 11,322 | ||||||||||
Exxon Mobil Corp. | 16,735 | 1,223,663 | ||||||||||
Forest Oil Corp. (a)(b) | 380 | 14,429 | ||||||||||
Hess Corp. | 1,006 | 76,999 | ||||||||||
Marathon Oil Corp. | 2,412 | 89,316 | ||||||||||
Massey Energy Co. (a) | 341 | 18,295 | ||||||||||
Murphy Oil Corp. | 642 | 47,861 | ||||||||||
Newfield Exploration Co. (b) | 441 | 31,800 | ||||||||||
Noble Energy, Inc. | 579 | 49,840 | ||||||||||
Occidental Petroleum Corp. | 2,691 | 263,987 | ||||||||||
Peabody Energy Corp. | 921 | 58,926 | ||||||||||
Petrohawk Energy Corp. (b) | 1,008 | 18,396 | ||||||||||
Pioneer Natural Resources Co. (a) | 311 | 27,001 | ||||||||||
Plains Exploration & Production Co. (b) | 434 | 13,949 | ||||||||||
QEP Resources, Inc. | 589 | 21,387 | ||||||||||
Quicksilver Resources, Inc. (a)(b) | 378 | 5,572 | ||||||||||
Range Resources Corp. (a) | 526 | 23,659 | ||||||||||
Southern Union Co. | 361 | 8,689 | ||||||||||
Southwestern Energy Co. (b) | 1,166 | 43,643 | ||||||||||
Sunoco, Inc. | 407 | 16,406 | ||||||||||
Ultra Petroleum Corp. (a)(b) | 514 | 24,554 | ||||||||||
Valero Energy Corp. | 1,809 | 41,824 | ||||||||||
Whiting Petroleum Corp. (b) | 170 | 19,922 | ||||||||||
3,769,341 | ||||||||||||
PAPER & FOREST PRODUCTS — 0.2% | ||||||||||||
International Paper Co. | 1,308 | 35,630 | ||||||||||
MeadWestvaco Corp. | 567 | 14,832 | ||||||||||
Weyerhaeuser Co. (a) | 1,759 | 33,298 | ||||||||||
83,760 | ||||||||||||
PERSONAL PRODUCTS — 0.2% | ||||||||||||
Alberto-Culver Co. | 296 | 10,964 | ||||||||||
Avon Products, Inc. | 1,459 | 42,399 | ||||||||||
Herbalife, Ltd. | 200 | 13,674 | ||||||||||
The Estee Lauder Cos., Inc. (Class A) (a) | 402 | 32,441 | ||||||||||
99,478 | ||||||||||||
PHARMACEUTICALS — 5.1% | ||||||||||||
Abbott Laboratories | 5,124 | 245,491 | ||||||||||
Allergan, Inc. | 1,056 | 72,515 | ||||||||||
Bristol-Myers Squibb Co. | 5,700 | 150,936 | ||||||||||
Eli Lilly & Co. | 3,311 | 116,017 | ||||||||||
Endo Pharmaceuticals Holdings, Inc. (b) | 351 | 12,534 | ||||||||||
Forest Laboratories, Inc. (b) | 956 | 30,573 | ||||||||||
Johnson & Johnson | 9,149 | 565,866 | ||||||||||
King Pharmaceuticals, Inc. (b) | 831 | 11,676 | ||||||||||
Merck & Co., Inc. | 10,206 | 367,824 | ||||||||||
Mylan, Inc. (b) | 1,428 | 30,174 | ||||||||||
Perrigo Co. (a) | 291 | 18,429 | ||||||||||
Pfizer, Inc. | 26,709 | 467,675 | ||||||||||
Warner Chilcott PLC | 300 | 6,768 | ||||||||||
Watson Pharmaceuticals, Inc. (b) | 350 | 18,077 | ||||||||||
2,114,555 | ||||||||||||
PROFESSIONAL SERVICES — 0.2% | ||||||||||||
Equifax, Inc. | 437 | 15,557 | ||||||||||
IHS, Inc. (Class A) (a)(b) | 160 | 12,862 | ||||||||||
Manpower, Inc. (a) | 262 | 16,443 | ||||||||||
Robert Half International, Inc. (a) | 573 | 17,534 | ||||||||||
The Dun & Bradstreet Corp. | 182 | 14,940 | ||||||||||
Towers Watson & Co. (Class A) (a) | 143 | 7,445 | ||||||||||
Verisk Analytics, Inc. (Class A) (b) | 281 | 9,577 | ||||||||||
94,358 | ||||||||||||
REAL ESTATE INVESTMENT TRUSTS — 1.8% | ||||||||||||
AMB Property Corp. (a) | 526 | 16,679 | ||||||||||
Annaly Capital Management, Inc. (a) | 2,112 | 37,847 | ||||||||||
AvalonBay Communities, Inc. (a) | 268 | 30,163 | ||||||||||
Boston Properties, Inc. (a) | 489 | 42,103 | ||||||||||
Digital Realty Trust, Inc. (a) | 332 | 17,111 | ||||||||||
Equity Residential (a) | 927 | 48,158 | ||||||||||
Federal Realty Investment Trust | 193 | 15,041 | ||||||||||
General Growth Properties, Inc. (b) | 1,300 | 20,124 | ||||||||||
HCP, Inc. | 1,218 | 44,810 | ||||||||||
Health Care REIT, Inc. | 463 | 22,057 | ||||||||||
Host Hotels & Resorts, Inc. | 2,135 | 38,152 | ||||||||||
Kimco Realty Corp. (a) | 1,385 | 24,985 | ||||||||||
Liberty Property Trust (a) | 320 | 10,214 | ||||||||||
Nationwide Health Properties, Inc. | 336 | 12,224 | ||||||||||
Piedmont Office Realty Trust, Inc. (Class A) (a) | 200 | 4,028 | ||||||||||
Plum Creek Timber Co., Inc. (a) | 587 | 21,983 | ||||||||||
ProLogis | 1,520 | 21,949 | ||||||||||
Public Storage | 435 | 44,118 | ||||||||||
Rayonier, Inc. | 265 | 13,918 | ||||||||||
Realty Income Corp. (a) | 352 | 12,038 | ||||||||||
Regency Centers Corp. (a) | 317 | 13,390 | ||||||||||
Simon Property Group, Inc. | 974 | 96,903 | ||||||||||
SL Green Realty Corp. (a) | 217 | 14,650 | ||||||||||
The Macerich Co. | 451 | 21,364 | ||||||||||
UDR, Inc. (a) | 500 | 11,760 | ||||||||||
Ventas, Inc. (a) | 576 | 30,229 | ||||||||||
Vornado Realty Trust | 605 | 50,415 | ||||||||||
736,413 | ||||||||||||
See accompanying notes to financial statements.
18
Table of Contents
SPDR Dow Jones Large Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 0.1% | ||||||||||||
Brookfield Properties Corp. | 941 | $ | 16,496 | |||||||||
CB Richard Ellis Group, Inc. (Class A) (b) | 859 | 17,592 | ||||||||||
The St. Joe Co. (a)(b) | 310 | 6,774 | ||||||||||
40,862 | ||||||||||||
ROAD & RAIL — 0.9% | ||||||||||||
CSX Corp. | 1,264 | 81,667 | ||||||||||
Hertz Global Holdings, Inc. (a)(b) | 799 | 11,577 | ||||||||||
J.B. Hunt Transport Services, Inc. | 292 | 11,917 | ||||||||||
Kansas City Southern (b) | 305 | 14,597 | ||||||||||
Norfolk Southern Corp. | 1,246 | 78,274 | ||||||||||
Ryder Systems, Inc. | 198 | 10,423 | ||||||||||
Union Pacific Corp. | 1,606 | 148,812 | ||||||||||
357,267 | ||||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 2.6% | ||||||||||||
Advanced Micro Devices, Inc. (a)(b) | 1,879 | 15,370 | ||||||||||
Altera Corp. | 1,020 | 36,292 | ||||||||||
Analog Devices, Inc. | 994 | 37,444 | ||||||||||
Applied Materials, Inc. | 4,559 | 64,054 | ||||||||||
Broadcom Corp. (Class A) | 1,438 | 62,625 | ||||||||||
Cree, Inc. (b) | 361 | 23,786 | ||||||||||
First Solar, Inc. (a)(b) | 153 | 19,911 | ||||||||||
Intel Corp. | 18,469 | 388,403 | ||||||||||
KLA-Tencor Corp. | 590 | 22,798 | ||||||||||
Lam Research Corp. (b) | 435 | 22,524 | ||||||||||
Linear Technology Corp. (a) | 699 | 24,178 | ||||||||||
LSI Corp. (b) | 2,183 | 13,076 | ||||||||||
Marvell Technology Group, Ltd. (b) | 1,631 | 30,255 | ||||||||||
Maxim Integrated Products, Inc. | 1,102 | 26,029 | ||||||||||
MEMC Electronic Materials, Inc. (b) | 771 | 8,682 | ||||||||||
Microchip Technology, Inc. (a) | 625 | 21,381 | ||||||||||
Micron Technology, Inc. (a)(b) | 3,003 | 24,084 | ||||||||||
National Semiconductor Corp. | 776 | 10,678 | ||||||||||
NVIDIA Corp. (b) | 1,809 | 27,859 | ||||||||||
ON Semiconductor Corp. (b) | 1,362 | 13,457 | ||||||||||
Texas Instruments, Inc. | 4,024 | 130,780 | ||||||||||
Xilinx, Inc. (a) | 941 | 27,270 | ||||||||||
1,050,936 | ||||||||||||
SOFTWARE — 3.9% | ||||||||||||
Activision Blizzard, Inc. | 2,028 | 25,228 | ||||||||||
Adobe Systems, Inc. (b) | 1,781 | 54,819 | ||||||||||
Ansys, Inc. (a)(b) | 309 | 16,090 | ||||||||||
Autodesk, Inc. (b) | 773 | 29,529 | ||||||||||
BMC Software, Inc. (b) | 629 | 29,651 | ||||||||||
CA, Inc. (a) | 1,394 | 34,070 | ||||||||||
Citrix Systems, Inc. (b) | 615 | 42,072 | ||||||||||
Electronic Arts, Inc. (a)(b) | 1,085 | 17,772 | ||||||||||
Factset Research Systems, Inc. (a) | 151 | 14,158 | ||||||||||
Intuit, Inc. (a)(b) | 1,013 | 49,941 | ||||||||||
McAfee, Inc. (b) | 517 | 23,942 | ||||||||||
Microsoft Corp. | 25,310 | 706,655 | ||||||||||
Nuance Communications, Inc. (b) | 726 | 13,199 | ||||||||||
Oracle Corp. | 12,653 | 396,039 | ||||||||||
Red Hat, Inc. (b) | 648 | 29,581 | ||||||||||
Rovi Corp. (a)(b) | 300 | 18,603 | ||||||||||
Salesforce.com, Inc. (b) | 347 | 45,804 | ||||||||||
Symantec Corp. (b) | 2,619 | 43,842 | ||||||||||
Synopsys, Inc. (b) | 478 | 12,863 | ||||||||||
VMware, Inc. (Class A) (a)(b) | 164 | 14,581 | ||||||||||
1,618,439 | ||||||||||||
SPECIALTY RETAIL — 2.0% | ||||||||||||
Abercrombie & Fitch Co. (Class A) | 292 | 16,828 | ||||||||||
Advance Auto Parts, Inc. | 320 | 21,168 | ||||||||||
American Eagle Outfitters, Inc. | 611 | 8,939 | ||||||||||
AutoNation, Inc. (a)(b) | 228 | 6,430 | ||||||||||
AutoZone, Inc. (a)(b) | 87 | 23,715 | ||||||||||
Bed Bath & Beyond, Inc. (b) | 891 | 43,793 | ||||||||||
Best Buy Co., Inc. (a) | 1,136 | 38,953 | ||||||||||
CarMax, Inc. (a)(b) | 673 | 21,455 | ||||||||||
GameStop Corp. (Class A) (a)(b) | 505 | 11,554 | ||||||||||
Guess ?, Inc. | 213 | 10,079 | ||||||||||
Limited Brands, Inc. | 831 | 25,537 | ||||||||||
Lowe’s Cos., Inc. | 4,567 | 114,540 | ||||||||||
O’Reilly Automotive, Inc. (a)(b) | 459 | 27,733 | ||||||||||
PetSmart, Inc. | 441 | 17,561 | ||||||||||
Ross Stores, Inc. | 400 | 25,300 | ||||||||||
Staples, Inc. | 2,406 | 54,785 | ||||||||||
The Gap, Inc. | 1,201 | 26,590 | ||||||||||
The Home Depot, Inc. | 5,431 | 190,411 | ||||||||||
The Sherwin-Williams Co. | 301 | 25,209 | ||||||||||
The TJX Cos., Inc. | 1,329 | 58,994 | ||||||||||
Tiffany & Co. (a) | 423 | 26,340 | ||||||||||
Urban Outfitters, Inc. (a)(b) | 385 | 13,787 | ||||||||||
809,701 | ||||||||||||
TEXTILES, APPAREL & LUXURY GOODS — 0.5% | ||||||||||||
Coach, Inc. | 994 | 54,978 | ||||||||||
NIKE, Inc. (Class B) (a) | 1,013 | 86,531 | ||||||||||
Phillips-Van Heusen Corp. (a) | 200 | 12,602 | ||||||||||
Polo Ralph Lauren Corp. (a) | 196 | 21,740 | ||||||||||
V.F. Corp. (a) | 293 | 25,251 | ||||||||||
201,102 | ||||||||||||
THRIFTS & MORTGAGE FINANCE — 0.2% | ||||||||||||
Capitol Federal Financial, Inc. | 562 | 6,694 | ||||||||||
Hudson City Bancorp, Inc. (a) | 1,664 | 21,199 | ||||||||||
New York Community Bancorp, Inc. (a) | 1,393 | 26,258 | ||||||||||
People’s United Financial, Inc. (a) | 1,197 | 16,770 | ||||||||||
TFS Financial Corp. (a) | 321 | 2,895 | ||||||||||
73,816 | ||||||||||||
TOBACCO — 1.5% | ||||||||||||
Altria Group, Inc. | 6,979 | 171,823 | ||||||||||
Lorillard, Inc. (a) | 477 | 39,143 | ||||||||||
Philip Morris International, Inc. | 6,046 | 353,872 | ||||||||||
Reynolds American, Inc. | 1,144 | 37,317 | ||||||||||
602,155 | ||||||||||||
TRADING COMPANIES & DISTRIBUTORS — 0.2% | ||||||||||||
Fastenal Co. (a) | 488 | 29,236 | ||||||||||
MSC Industrial Direct Co., Inc. (Class A) (a) | 147 | 9,510 | ||||||||||
W.W. Grainger, Inc. (a) | 193 | 26,655 | ||||||||||
65,401 | ||||||||||||
See accompanying notes to financial statements.
19
Table of Contents
SPDR Dow Jones Large Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
WIRELESS TELECOMMUNICATION SERVICES — 0.5% | ||||||||||||
American Tower Corp. (Class A) (b) | 1,341 | $ | 69,249 | |||||||||
Clearwire Corp. (Class A) (a)(b) | 368 | 1,895 | ||||||||||
Crown Castle International Corp. (b) | 820 | 35,941 | ||||||||||
MetroPCS Communications, Inc. (a)(b) | 832 | 10,508 | ||||||||||
NII Holdings, Inc. (b) | 564 | 25,188 | ||||||||||
SBA Communications Corp. (Class A) (a)(b) | 394 | 16,130 | ||||||||||
Sprint Nextel Corp. (b) | 9,633 | 40,748 | ||||||||||
Telephone & Data Systems, Inc. | 354 | 12,939 | ||||||||||
US Cellular Corp. (b) | 56 | 2,797 | ||||||||||
215,395 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $32,504,055) | 41,235,780 | |||||||||||
SHORT TERM INVESTMENTS — 7.3% | ||||||||||||
MONEY MARKET FUNDS — 7.3% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 3,000,511 | 3,000,511 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (e)(f) | 16,977 | 16,977 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $3,017,488) | 3,017,488 | |||||||||||
TOTAL INVESTMENTS — 107.2% (g) | ||||||||||||
(Cost $35,521,543) | 44,253,268 | |||||||||||
OTHER ASSETS & LIABILITIES — (7.2)% | (2,963,539 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 41,289,729 | ||||||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Non-income producing security. | |||||
(c) | Affiliated issuer. (Note 3) | |||||
(d) | Investments of cash collateral for securities loaned. | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
20
Table of Contents
SPDR S&P 500 Growth ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.5% | ||||||||||||
AEROSPACE & DEFENSE — 2.9% | ||||||||||||
Boeing Co. | 14,300 | $ | 933,218 | |||||||||
General Dynamics Corp. | 6,900 | 489,624 | ||||||||||
Goodrich Corp. | 3,983 | 350,783 | ||||||||||
Honeywell International, Inc. | 16,200 | 861,192 | ||||||||||
ITT Corp. | 3,149 | 164,094 | ||||||||||
Precision Castparts Corp. | 4,660 | 648,719 | ||||||||||
Raytheon Co. | 5,700 | 264,138 | ||||||||||
Rockwell Collins, Inc. | 5,038 | 293,514 | ||||||||||
United Technologies Corp. | 19,500 | 1,535,040 | ||||||||||
5,540,322 | ||||||||||||
AIR FREIGHT & LOGISTICS — 1.0% | ||||||||||||
C.H. Robinson Worldwide, Inc. | 5,307 | 425,568 | ||||||||||
Expeditors International Washington, Inc. | 3,821 | 208,627 | ||||||||||
United Parcel Service, Inc. (Class B) | 16,700 | 1,212,086 | ||||||||||
1,846,281 | ||||||||||||
AIRLINES — 0.1% | ||||||||||||
Southwest Airlines Co. | 12,400 | 160,952 | ||||||||||
AUTOMOBILES — 0.7% | ||||||||||||
Ford Motor Co. (a) | 71,900 | 1,207,201 | ||||||||||
Harley-Davidson, Inc. | 3,400 | 117,878 | ||||||||||
1,325,079 | ||||||||||||
BEVERAGES — 4.8% | ||||||||||||
Brown-Forman Corp. (Class B) | 3,444 | 239,771 | ||||||||||
Coca-Cola Enterprises, Inc. | 11,000 | 275,330 | ||||||||||
Dr. Pepper Snapple Group, Inc. | 7,400 | 260,184 | ||||||||||
PepsiCo, Inc. | 51,538 | 3,366,978 | ||||||||||
The Coca-Cola Co. | 75,500 | 4,965,635 | ||||||||||
9,107,898 | ||||||||||||
BIOTECHNOLOGY — 2.1% | ||||||||||||
Amgen, Inc. (a) | 16,566 | 909,473 | ||||||||||
Biogen Idec, Inc. (a) | 7,767 | 520,777 | ||||||||||
Celgene Corp. (a) | 15,325 | 906,321 | ||||||||||
Cephalon, Inc. (a)(b) | 958 | 59,128 | ||||||||||
Genzyme Corp. (a) | 8,448 | 601,498 | ||||||||||
Gilead Sciences, Inc. (a) | 26,568 | 962,824 | ||||||||||
3,960,021 | ||||||||||||
CAPITAL MARKETS — 1.1% | ||||||||||||
Ameriprise Financial, Inc. | 8,100 | 466,155 | ||||||||||
Federated Investors, Inc. (Class B) (b) | 1,900 | 49,723 | ||||||||||
Franklin Resources, Inc. | 3,073 | 341,748 | ||||||||||
Invesco, Ltd. | 7,100 | 170,826 | ||||||||||
Janus Capital Group, Inc. | 2,900 | 37,613 | ||||||||||
Northern Trust Corp. | 2,707 | 149,995 | ||||||||||
T. Rowe Price Group, Inc. | 8,258 | 532,971 | ||||||||||
The Charles Schwab Corp. | 14,540 | 248,780 | ||||||||||
1,997,811 | ||||||||||||
CHEMICALS — 2.4% | ||||||||||||
Air Products & Chemicals, Inc. | 3,800 | 345,610 | ||||||||||
Airgas, Inc. | 1,631 | 101,872 | ||||||||||
CF Industries Holdings, Inc. | 2,236 | 302,195 | ||||||||||
E. I. du Pont de Nemours & Co. | 17,500 | 872,900 | ||||||||||
Eastman Chemical Co. (b) | 1,200 | 100,896 | ||||||||||
Ecolab, Inc. | 7,351 | 370,638 | ||||||||||
FMC Corp. | 2,282 | 182,309 | ||||||||||
International Flavors & Fragrances, Inc. | 2,600 | 144,534 | ||||||||||
Monsanto Co. | 9,588 | 667,708 | ||||||||||
PPG Industries, Inc. | 3,200 | 269,024 | ||||||||||
Praxair, Inc. | 9,969 | 951,741 | ||||||||||
Sigma-Aldrich Corp. | 3,923 | 261,115 | ||||||||||
4,570,542 | ||||||||||||
COMMERCIAL BANKS — 1.4% | ||||||||||||
Huntington Bancshares, Inc. | 7,200 | 49,464 | ||||||||||
Keycorp | 6,000 | 53,100 | ||||||||||
Wells Fargo & Co. | 83,600 | 2,590,764 | ||||||||||
2,693,328 | ||||||||||||
COMMERCIAL SERVICES & SUPPLIES — 0.4% | ||||||||||||
Avery Dennison Corp. | 1,300 | 55,042 | ||||||||||
Iron Mountain, Inc. (b) | 3,483 | 87,110 | ||||||||||
Republic Services, Inc. | 5,503 | 164,319 | ||||||||||
Stericycle, Inc. (a) | 2,750 | 222,530 | ||||||||||
Waste Management, Inc. (b) | 6,000 | 221,220 | ||||||||||
750,221 | ||||||||||||
COMMUNICATIONS EQUIPMENT — 3.1% | ||||||||||||
Cisco Systems, Inc. (a) | 102,761 | 2,078,855 | ||||||||||
F5 Networks, Inc. (a) | 2,647 | 344,533 | ||||||||||
Harris Corp. | 2,343 | 106,138 | ||||||||||
JDS Uniphase Corp. (a) | 7,200 | 104,256 | ||||||||||
Juniper Networks, Inc. (a) | 16,755 | 618,595 | ||||||||||
QUALCOMM, Inc. | 52,576 | 2,601,986 | ||||||||||
5,854,363 | ||||||||||||
COMPUTERS & PERIPHERALS — 7.5% | ||||||||||||
Apple, Inc. (a) | 29,771 | 9,602,934 | ||||||||||
EMC Corp. (a) | 66,992 | 1,534,117 | ||||||||||
Hewlett-Packard Co. | 39,833 | 1,676,969 | ||||||||||
NetApp, Inc. (a) | 11,719 | 644,076 | ||||||||||
QLogic Corp. (a) | 3,400 | 57,868 | ||||||||||
SanDisk Corp. (a) | 7,432 | 370,560 | ||||||||||
Teradata Corp. (a) | 5,327 | 219,259 | ||||||||||
Western Digital Corp. (a) | 7,318 | 248,080 | ||||||||||
14,353,863 | ||||||||||||
CONSTRUCTION & ENGINEERING — 0.1% | ||||||||||||
Fluor Corp. | 3,265 | 216,339 | ||||||||||
CONSUMER FINANCE — 0.4% | ||||||||||||
American Express Co. | 18,700 | 802,604 | ||||||||||
CONTAINERS & PACKAGING — 0.1% | ||||||||||||
Ball Corp. | 2,901 | 197,413 | ||||||||||
DIVERSIFIED CONSUMER SERVICES — 0.1% | ||||||||||||
Apollo Group, Inc. (a) | 4,159 | 164,239 | ||||||||||
DeVry, Inc. | 1,996 | 95,768 | ||||||||||
260,007 | ||||||||||||
DIVERSIFIED FINANCIAL SERVICES — 0.3% | ||||||||||||
Intercontinental Exchange, Inc. (a) | 2,305 | 274,641 | ||||||||||
Leucadia National Corp. | 3,886 | 113,393 |
See accompanying notes to financial statements.
21
Table of Contents
SPDR S&P 500 Growth ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Moody’s Corp. (b) | 3,589 | $ | 95,252 | |||||||||
483,286 | ||||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 2.4% | ||||||||||||
AT&T, Inc. | 80,700 | 2,370,966 | ||||||||||
CenturyLink, Inc. | 4,900 | 226,233 | ||||||||||
Frontier Communications Corp. | 15,200 | 147,896 | ||||||||||
Qwest Communications International, Inc. | 56,700 | 431,487 | ||||||||||
Verizon Communications, Inc. | 36,800 | 1,316,704 | ||||||||||
Windstream Corp. (b) | 9,400 | 131,036 | ||||||||||
4,624,322 | ||||||||||||
ELECTRICAL EQUIPMENT — 0.7% | ||||||||||||
Emerson Electric Co. | 13,465 | 769,794 | ||||||||||
Rockwell Automation, Inc. | 4,600 | 329,866 | ||||||||||
Roper Industries, Inc. (b) | 2,987 | 228,296 | ||||||||||
1,327,956 | ||||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 0.8% | ||||||||||||
Agilent Technologies, Inc. (a) | 11,028 | 456,890 | ||||||||||
Amphenol Corp. (Class A) | 5,677 | 299,632 | ||||||||||
Corning, Inc. | 32,039 | 618,993 | ||||||||||
FLIR Systems, Inc. (a)(b) | 5,073 | 150,922 | ||||||||||
Molex, Inc. | 1,700 | 38,624 | ||||||||||
1,565,061 | ||||||||||||
ENERGY EQUIPMENT & SERVICES — 3.5% | ||||||||||||
Baker Hughes, Inc. | 6,187 | 353,711 | ||||||||||
Cameron International Corp. (a) | 7,807 | 396,049 | ||||||||||
Diamond Offshore Drilling, Inc. | 2,101 | 140,494 | ||||||||||
FMC Technologies, Inc. (a) | 3,842 | 341,592 | ||||||||||
Halliburton Co. | 15,385 | 628,170 | ||||||||||
Helmerich & Payne, Inc. | 1,916 | 92,888 | ||||||||||
National-Oilwell Varco, Inc. | 13,673 | 919,509 | ||||||||||
Schlumberger, Ltd. | 44,363 | 3,704,310 | ||||||||||
6,576,723 | ||||||||||||
FOOD & STAPLES RETAILING — 0.1% | ||||||||||||
Whole Foods Market, Inc. (a)(b) | 4,796 | 242,630 | ||||||||||
FOOD PRODUCTS — 1.6% | ||||||||||||
Campbell Soup Co. (b) | 3,300 | 114,675 | ||||||||||
General Mills, Inc. | 13,100 | 466,229 | ||||||||||
H.J. Heinz Co. | 6,700 | 331,382 | ||||||||||
Hormel Foods Corp. | 1,400 | 71,764 | ||||||||||
Kellogg Co. | 5,000 | 255,400 | ||||||||||
Kraft Foods, Inc. (Class A) | 27,300 | 860,223 | ||||||||||
McCormick & Co., Inc. | 2,600 | 120,978 | ||||||||||
Mead Johnson Nutrition Co. | 6,512 | 405,372 | ||||||||||
Sara Lee Corp. | 11,000 | 192,610 | ||||||||||
The Hershey Co. | 3,000 | 141,450 | ||||||||||
2,960,083 | ||||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 2.3% | ||||||||||||
Baxter International, Inc. | 12,177 | 616,400 | ||||||||||
Becton, Dickinson & Co. | 4,754 | 401,808 | ||||||||||
C.R. Bard, Inc. | 2,955 | 271,180 | ||||||||||
DENTSPLY International, Inc. | 2,820 | 96,359 | ||||||||||
Hospira, Inc. (a) | 5,260 | 292,930 | ||||||||||
Intuitive Surgical, Inc. (a) | 1,251 | 322,445 | ||||||||||
Medtronic, Inc. | 22,508 | 834,822 | ||||||||||
St. Jude Medical, Inc. (a) | 11,199 | 478,757 | ||||||||||
Stryker Corp. (b) | 11,128 | 597,574 | ||||||||||
Varian Medical Systems, Inc. (a) | 3,811 | 264,026 | ||||||||||
Zimmer Holdings, Inc. (a) | 4,072 | 218,585 | ||||||||||
4,394,886 | ||||||||||||
HEALTH CARE PROVIDERS & SERVICES — 1.6% | ||||||||||||
AmerisourceBergen Corp. | 4,621 | 157,668 | ||||||||||
CIGNA Corp. | 8,800 | 322,608 | ||||||||||
DaVita, Inc. (a) | 3,304 | 229,595 | ||||||||||
Express Scripts, Inc. (Class A) (a) | 17,117 | 925,174 | ||||||||||
Laboratory Corp. of America Holdings (a) | 3,292 | 289,432 | ||||||||||
Medco Health Solutions, Inc. (a) | 13,825 | 847,058 | ||||||||||
Patterson Cos., Inc. | 3,279 | 100,436 | ||||||||||
Quest Diagnostics, Inc. | 2,266 | 122,296 | ||||||||||
Tenet Healthcare Corp. (a) | 15,800 | 105,702 | ||||||||||
3,099,969 | ||||||||||||
HEALTH CARE TECHNOLOGY — 0.1% | ||||||||||||
Cerner Corp. (a)(b) | 2,229 | 211,175 | ||||||||||
HOTELS, RESTAURANTS & LEISURE — 3.1% | ||||||||||||
Carnival Corp. | 7,100 | 327,381 | ||||||||||
Darden Restaurants, Inc. | 4,464 | 207,308 | ||||||||||
International Game Technology (b) | 4,187 | 74,068 | ||||||||||
Marriott International, Inc. (Class A) | 9,391 | 390,102 | ||||||||||
McDonald’s Corp. | 34,400 | 2,640,544 | ||||||||||
Starbucks Corp. | 24,098 | 774,269 | ||||||||||
Starwood Hotels & Resorts Worldwide, Inc. | 6,228 | 378,538 | ||||||||||
Wyndham Worldwide Corp. | 5,667 | 169,783 | ||||||||||
Wynn Resorts, Ltd. | 2,465 | 255,966 | ||||||||||
Yum! Brands, Inc. | 15,263 | 748,650 | ||||||||||
5,966,609 | ||||||||||||
HOUSEHOLD DURABLES — 0.2% | ||||||||||||
Harman International Industries, Inc. (a) | 1,333 | 61,718 | ||||||||||
Lennar Corp. (Class A) | 2,600 | 48,750 | ||||||||||
Stanley Black & Decker, Inc. | 2,700 | 180,549 | ||||||||||
291,017 | ||||||||||||
HOUSEHOLD PRODUCTS — 2.5% | ||||||||||||
Colgate-Palmolive Co. | 15,578 | 1,252,004 | ||||||||||
Kimberly-Clark Corp. | 8,100 | 510,624 | ||||||||||
Procter & Gamble Co. | 43,700 | 2,811,221 | ||||||||||
The Clorox Co. | 2,800 | 177,184 | ||||||||||
4,751,033 | ||||||||||||
INDUSTRIAL CONGLOMERATES — 0.7% | ||||||||||||
3M Co. | 12,800 | 1,104,640 | ||||||||||
Tyco International, Ltd. | 7,500 | 310,800 | ||||||||||
1,415,440 | ||||||||||||
INSURANCE — 0.3% | ||||||||||||
AFLAC, Inc. | 9,300 | 524,799 | ||||||||||
INTERNET & CATALOG RETAIL — 1.6% | ||||||||||||
Amazon.com, Inc. (a) | 11,519 | 2,073,420 | ||||||||||
Expedia, Inc. | 6,534 | 163,938 | ||||||||||
Netflix, Inc. (a) | 1,418 | 249,143 |
See accompanying notes to financial statements.
22
Table of Contents
SPDR S&P 500 Growth ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Priceline.com, Inc. (a) | 1,612 | $ | 644,074 | |||||||||
3,130,575 | ||||||||||||
INTERNET SOFTWARE & SERVICES — 3.5% | ||||||||||||
Akamai Technologies, Inc. (a) | 5,748 | 270,443 | ||||||||||
eBay, Inc. (a) | 37,278 | �� | 1,037,447 | |||||||||
Google, Inc. (Class A) (a) | 8,111 | 4,817,691 | ||||||||||
Monster Worldwide, Inc. (a) | 2,200 | 51,986 | ||||||||||
VeriSign, Inc. (b) | 3,100 | 101,277 | ||||||||||
Yahoo!, Inc. (a) | 19,967 | 332,051 | ||||||||||
6,610,895 | ||||||||||||
IT SERVICES — 5.1% | ||||||||||||
Automatic Data Processing, Inc. | 10,251 | 474,416 | ||||||||||
Cognizant Technology Solutions Corp. (Class A) (a) | 9,843 | 721,393 | ||||||||||
Fiserv, Inc. (a) | 2,742 | 160,572 | ||||||||||
International Business Machines Corp. | 40,400 | 5,929,104 | ||||||||||
Mastercard, Inc. (Class A) | 3,114 | 697,879 | ||||||||||
Paychex, Inc. | 6,000 | 185,460 | ||||||||||
SAIC, Inc. (a) | 4,419 | 70,085 | ||||||||||
The Western Union Co. | 20,906 | 388,224 | ||||||||||
Total System Services, Inc. | 1,925 | 29,607 | ||||||||||
Visa, Inc. (Class A) | 15,826 | 1,113,834 | ||||||||||
9,770,574 | ||||||||||||
LEISURE EQUIPMENT & PRODUCTS — 0.2% | ||||||||||||
Hasbro, Inc. | 4,400 | 207,592 | ||||||||||
Mattel, Inc. | 7,400 | 188,182 | ||||||||||
395,774 | ||||||||||||
LIFE SCIENCES TOOLS & SERVICES — 0.6% | ||||||||||||
Life Technologies Corp. (a) | 6,122 | 339,771 | ||||||||||
PerkinElmer, Inc. | 2,133 | 55,074 | ||||||||||
Thermo Fisher Scientific, Inc. (a) | 7,788 | 431,144 | ||||||||||
Waters Corp. (a) | 2,991 | 232,430 | ||||||||||
1,058,419 | ||||||||||||
MACHINERY — 3.1% | ||||||||||||
Caterpillar, Inc. | 11,161 | 1,045,339 | ||||||||||
Cummins, Inc. | 6,404 | 704,504 | ||||||||||
Danaher Corp. | 10,595 | 499,766 | ||||||||||
Deere & Co. | 13,765 | 1,143,183 | ||||||||||
Dover Corp. | 3,291 | 192,359 | ||||||||||
Eaton Corp. | 2,600 | 263,926 | ||||||||||
Flowserve Corp. | 1,778 | 211,973 | ||||||||||
Illinois Tool Works, Inc. (b) | 8,498 | 453,793 | ||||||||||
Ingersoll-Rand PLC | 10,500 | 494,445 | ||||||||||
PACCAR, Inc. | 5,111 | 293,474 | ||||||||||
Pall Corp. | 3,637 | 180,323 | ||||||||||
Parker-Hannifin Corp. | 3,100 | 267,530 | ||||||||||
Snap-On, Inc. | 900 | 50,922 | ||||||||||
5,801,537 | ||||||||||||
MEDIA — 4.0% | ||||||||||||
Cablevision Systems Corp. (Class A) | 7,528 | 254,748 | ||||||||||
Comcast Corp. (Class A) | 90,705 | 1,992,789 | ||||||||||
DIRECTV (Class A) (a) | 27,450 | 1,096,078 | ||||||||||
Discovery Communications, Inc. (Series A) (a)(b) | 9,262 | 386,225 | ||||||||||
Meredith Corp. (b) | 500 | 17,325 | ||||||||||
News Corp. (Class A) | 43,100 | 627,536 | ||||||||||
Omnicom Group, Inc. | 6,100 | 279,380 | ||||||||||
Scripps Networks Interactive (Class A) | 2,933 | 151,783 | ||||||||||
The Interpublic Group of Cos., Inc. (a) | 15,401 | 163,559 | ||||||||||
The McGraw-Hill Cos., Inc. | 5,700 | 207,537 | ||||||||||
The Walt Disney Co. | 33,300 | 1,249,083 | ||||||||||
Time Warner Cable, Inc. | 7,499 | 495,159 | ||||||||||
Viacom, Inc. (Class B) | 19,631 | 777,584 | ||||||||||
7,698,786 | ||||||||||||
METALS & MINING — 1.7% | ||||||||||||
Allegheny Technologies, Inc. | 1,244 | 68,644 | ||||||||||
Cliffs Natural Resources, Inc. | 4,325 | 337,393 | ||||||||||
Freeport-McMoRan Copper & Gold, Inc. | 15,340 | 1,842,181 | ||||||||||
Newmont Mining Corp. | 16,049 | 985,890 | ||||||||||
Titanium Metals Corp. (a) | 1,277 | 21,939 | ||||||||||
United States Steel Corp. | 1,071 | 62,568 | ||||||||||
3,318,615 | ||||||||||||
MULTI-UTILITIES — 0.7% | ||||||||||||
Dominion Resources, Inc. | 8,100 | 346,032 | ||||||||||
El Paso Corp. | 13,300 | 183,008 | ||||||||||
Southern Co. | 10,600 | 405,238 | ||||||||||
Spectra Energy Corp. | 10,500 | 262,395 | ||||||||||
Wisconsin Energy Corp. | 1,700 | 100,062 | ||||||||||
1,296,735 | ||||||||||||
MULTILINE RETAIL — 0.9% | ||||||||||||
Big Lots, Inc. (a) | 1,400 | 42,644 | ||||||||||
Family Dollar Stores, Inc. | 4,074 | 202,519 | ||||||||||
Kohl’s Corp. (a) | 5,664 | 307,782 | ||||||||||
Macy’s, Inc. | 8,500 | 215,050 | ||||||||||
Nordstrom, Inc. | 5,384 | 228,174 | ||||||||||
Target Corp. | 13,165 | 791,611 | ||||||||||
1,787,780 | ||||||||||||
OIL, GAS & CONSUMABLE FUELS — 3.4% | ||||||||||||
Anadarko Petroleum Corp. | 5,773 | 439,671 | ||||||||||
Apache Corp. | 6,100 | 727,303 | ||||||||||
Cabot Oil & Gas Corp. | 1,441 | 54,542 | ||||||||||
Chesapeake Energy Corp. (b) | 8,036 | 208,213 | ||||||||||
Consol Energy, Inc. | 7,200 | 350,928 | ||||||||||
Denbury Resources, Inc. (a) | 12,599 | 240,515 | ||||||||||
Devon Energy Corp. | 5,200 | 408,252 | ||||||||||
EOG Resources, Inc. | 3,841 | 351,106 | ||||||||||
EQT Corp. | 2,224 | 99,724 | ||||||||||
Massey Energy Co. | 3,312 | 177,689 | ||||||||||
Murphy Oil Corp. | 3,110 | 231,850 | ||||||||||
Newfield Exploration Co. (a) | 4,389 | 316,491 | ||||||||||
Noble Energy, Inc. | 2,610 | 224,669 | ||||||||||
Occidental Petroleum Corp. | 13,168 | 1,291,781 | ||||||||||
Peabody Energy Corp. | 8,759 | 560,401 | ||||||||||
Pioneer Natural Resources Co. | 3,768 | 327,137 | ||||||||||
Range Resources Corp. | 2,501 | 112,495 | ||||||||||
Southwestern Energy Co. (a) | 11,279 | 422,173 | ||||||||||
6,544,940 | ||||||||||||
See accompanying notes to financial statements.
23
Table of Contents
SPDR S&P 500 Growth ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
PERSONAL PRODUCTS — 0.4% | ||||||||||||
Avon Products, Inc. | 14,000 | $ | 406,840 | |||||||||
The Estee Lauder Cos., Inc. (Class A) | 3,837 | 309,646 | ||||||||||
716,486 | ||||||||||||
PHARMACEUTICALS — 6.0% | ||||||||||||
Abbott Laboratories | 50,300 | 2,409,873 | ||||||||||
Allergan, Inc. | 9,992 | 686,151 | ||||||||||
Bristol-Myers Squibb Co. | 30,100 | 797,048 | ||||||||||
Eli Lilly & Co. | 33,000 | 1,156,320 | ||||||||||
Forest Laboratories, Inc. (a) | 6,100 | 195,078 | ||||||||||
Johnson & Johnson | 53,600 | 3,315,160 | ||||||||||
Merck & Co., Inc. | 65,100 | 2,346,204 | ||||||||||
Mylan, Inc. (a) | 13,773 | 291,023 | ||||||||||
Watson Pharmaceuticals, Inc. (a) | 3,958 | 204,431 | ||||||||||
11,401,288 | ||||||||||||
PROFESSIONAL SERVICES — 0.1% | ||||||||||||
Equifax, Inc. | 2,366 | 84,229 | ||||||||||
Robert Half International, Inc. (b) | 2,036 | 62,302 | ||||||||||
The Dun & Bradstreet Corp. | 1,565 | 128,471 | ||||||||||
275,002 | ||||||||||||
REAL ESTATE INVESTMENT TRUSTS — 1.8% | ||||||||||||
Apartment Investment & Management Co. (Class A) | 2,100 | 54,264 | ||||||||||
AvalonBay Communities, Inc. | 2,680 | 301,634 | ||||||||||
Boston Properties, Inc. | 2,102 | 180,982 | ||||||||||
Equity Residential | 9,300 | 483,135 | ||||||||||
HCP, Inc. | 6,600 | 242,814 | ||||||||||
Health Care REIT, Inc. | 2,000 | 95,280 | ||||||||||
Host Hotels & Resorts, Inc. | 9,500 | 169,765 | ||||||||||
Kimco Realty Corp. | 4,100 | 73,964 | ||||||||||
Plum Creek Timber Co., Inc. | 2,400 | 89,880 | ||||||||||
Public Storage | 2,692 | 273,023 | ||||||||||
Simon Property Group, Inc. | 9,542 | 949,334 | ||||||||||
Ventas, Inc. | 4,992 | 261,980 | ||||||||||
Vornado Realty Trust | 2,400 | 199,992 | ||||||||||
3,376,047 | ||||||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 0.1% | ||||||||||||
CB Richard Ellis Group, Inc. (Class A) (a) | 9,331 | 191,099 | ||||||||||
ROAD & RAIL — 0.9% | ||||||||||||
CSX Corp. | 7,253 | 468,616 | ||||||||||
Norfolk Southern Corp. | 4,800 | 301,536 | ||||||||||
Union Pacific Corp. | 9,798 | 907,883 | ||||||||||
1,678,035 | ||||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 3.6% | ||||||||||||
Advanced Micro Devices, Inc. (a) | 17,900 | 146,422 | ||||||||||
Altera Corp. | 10,179 | 362,169 | ||||||||||
Analog Devices, Inc. | 9,700 | 365,399 | ||||||||||
Applied Materials, Inc. | 16,900 | 237,445 | ||||||||||
Broadcom Corp. (Class A) | 14,795 | 644,322 | ||||||||||
First Solar, Inc. (a)(b) | 1,767 | 229,957 | ||||||||||
Intel Corp. | 105,200 | 2,212,356 | ||||||||||
KLA-Tencor Corp. | 2,600 | 100,464 | ||||||||||
Linear Technology Corp. | 7,300 | 252,507 | ||||||||||
LSI Corp. (a) | 8,619 | 51,628 | ||||||||||
Microchip Technology, Inc. | 6,100 | 208,681 | ||||||||||
Micron Technology, Inc. (a)(b) | 27,827 | 223,173 | ||||||||||
National Semiconductor Corp. | 3,800 | 52,288 | ||||||||||
Novellus Systems, Inc. (a) | 1,400 | 45,248 | ||||||||||
NVIDIA Corp. (a) | 10,801 | 166,336 | ||||||||||
Teradyne, Inc. (a)(b) | 3,400 | 47,736 | ||||||||||
Texas Instruments, Inc. | 38,200 | 1,241,500 | ||||||||||
Xilinx, Inc. (b) | 8,183 | 237,143 | ||||||||||
6,824,774 | ||||||||||||
SOFTWARE — 7.5% | ||||||||||||
Adobe Systems, Inc. (a) | 8,554 | 263,292 | ||||||||||
Autodesk, Inc. (a) | 7,312 | 279,318 | ||||||||||
BMC Software, Inc. (a) | 5,759 | 271,479 | ||||||||||
CA, Inc. | 8,378 | 204,758 | ||||||||||
Citrix Systems, Inc. (a) | 6,146 | 420,448 | ||||||||||
Compuware Corp. (a) | 4,600 | 53,682 | ||||||||||
Electronic Arts, Inc. (a) | 4,529 | 74,185 | ||||||||||
Intuit, Inc. (a) | 9,224 | 454,743 | ||||||||||
McAfee, Inc. (a) | 4,804 | 222,473 | ||||||||||
Microsoft Corp. | 244,819 | 6,835,347 | ||||||||||
Oracle Corp. | 125,922 | 3,941,359 | ||||||||||
Red Hat, Inc. (a) | 6,148 | 280,656 | ||||||||||
Salesforce.com, Inc. (a) | 3,812 | 503,184 | ||||||||||
Symantec Corp. (a) | 25,013 | 418,718 | ||||||||||
14,223,642 | ||||||||||||
SPECIALTY RETAIL — 1.8% | ||||||||||||
Abercrombie & Fitch Co. (Class A) | 1,700 | 97,971 | ||||||||||
AutoZone, Inc. (a) | 891 | 242,878 | ||||||||||
Bed Bath & Beyond, Inc. (a) | 8,275 | 406,716 | ||||||||||
Best Buy Co., Inc. | 6,167 | 211,466 | ||||||||||
CarMax, Inc. (a) | 7,114 | 226,794 | ||||||||||
Limited Brands, Inc. | 8,600 | 264,278 | ||||||||||
O’Reilly Automotive, Inc. (a) | 4,576 | 276,482 | ||||||||||
Ross Stores, Inc. | 3,891 | 246,106 | ||||||||||
Staples, Inc. | 11,779 | 268,208 | ||||||||||
The Gap, Inc. | 8,000 | 177,120 | ||||||||||
The Sherwin-Williams Co. | 1,452 | 121,605 | ||||||||||
The TJX Cos., Inc. | 12,998 | 576,981 | ||||||||||
Tiffany & Co. | 3,987 | 248,270 | ||||||||||
Urban Outfitters, Inc. (a) | 4,197 | 150,295 | ||||||||||
3,515,170 | ||||||||||||
TEXTILES, APPAREL & LUXURY GOODS — 1.0% | ||||||||||||
Coach, Inc. | 9,686 | 535,733 | ||||||||||
NIKE, Inc. (Class B) | 12,429 | 1,061,685 | ||||||||||
Polo Ralph Lauren Corp. | 2,075 | 230,159 | ||||||||||
V.F. Corp. | 1,600 | 137,888 | ||||||||||
1,965,465 | ||||||||||||
THRIFTS & MORTGAGE FINANCE — 0.1% | ||||||||||||
Hudson City Bancorp, Inc. | 9,426 | 120,087 | ||||||||||
TOBACCO — 2.3% | ||||||||||||
Altria Group, Inc. (b) | 23,800 | 585,956 | ||||||||||
Lorillard, Inc. | 2,200 | 180,532 | ||||||||||
Philip Morris International, Inc. | 59,000 | 3,453,270 | ||||||||||
Reynolds American, Inc. | 5,600 | 182,672 | ||||||||||
4,402,430 | ||||||||||||
See accompanying notes to financial statements.
24
Table of Contents
SPDR S&P 500 Growth ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
TRADING COMPANIES & DISTRIBUTORS — 0.3% | ||||||||||||
Fastenal Co. | 4,768 | $ | 285,651 | |||||||||
W.W. Grainger, Inc. | 1,946 | 268,762 | ||||||||||
554,413 | ||||||||||||
WIRELESS TELECOMMUNICATION SERVICES — 0.4% | ||||||||||||
American Tower Corp. (Class A) (a) | 12,963 | 669,409 | ||||||||||
MetroPCS Communications, Inc. (a) | 8,499 | 107,343 | ||||||||||
776,752 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $169,880,101) | 189,507,353 | |||||||||||
SHORT TERM INVESTMENTS — 1.7% | ||||||||||||
MONEY MARKET FUNDS — 1.7% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 2,442,385 | 2,442,385 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 706,237 | 706,237 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $3,148,622) | 3,148,622 | |||||||||||
TOTAL INVESTMENTS — 101.2% (f) | ||||||||||||
(Cost $173,028,723) | 192,655,975 | |||||||||||
OTHER ASSETS & LIABILITIES — (1.2)% | (2,234,253 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 190,421,722 | ||||||||||
(a) | Non-income producing security. | |||||
(b) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
25
Table of Contents
SPDR S&P 500 Value ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.7% | ||||||||||||
AEROSPACE & DEFENSE — 2.4% | ||||||||||||
Boeing Co. | 8,821 | $ | 575,659 | |||||||||
General Dynamics Corp. | 4,989 | 354,019 | ||||||||||
Honeywell International, Inc. | 8,431 | 448,192 | ||||||||||
ITT Corp. (a) | 2,600 | 135,486 | ||||||||||
L-3 Communications Holdings, Inc. | 3,433 | 241,992 | ||||||||||
Lockheed Martin Corp. | 8,832 | 617,445 | ||||||||||
Northrop Grumman Corp. | 8,811 | 570,777 | ||||||||||
Raytheon Co. | 5,707 | 264,462 | ||||||||||
United Technologies Corp. | 9,711 | 764,450 | ||||||||||
3,972,482 | ||||||||||||
AIR FREIGHT & LOGISTICS — 1.2% | ||||||||||||
Expeditors International Washington, Inc. | 2,800 | 152,880 | ||||||||||
FedEx Corp. | 9,400 | 874,294 | ||||||||||
United Parcel Service, Inc. (Class B) | 14,269 | 1,035,644 | ||||||||||
2,062,818 | ||||||||||||
AIRLINES — 0.1% | ||||||||||||
Southwest Airlines Co. | 11,021 | 143,053 | ||||||||||
AUTO COMPONENTS — 0.5% | ||||||||||||
Johnson Controls, Inc. | 20,200 | 771,640 | ||||||||||
The Goodyear Tire & Rubber Co. (b) | 7,300 | 86,505 | ||||||||||
858,145 | ||||||||||||
AUTOMOBILES — 0.5% | ||||||||||||
Ford Motor Co. (b) | 46,100 | 774,019 | ||||||||||
Harley-Davidson, Inc. | 3,949 | 136,912 | ||||||||||
910,931 | ||||||||||||
BEVERAGES — 0.2% | ||||||||||||
Constellation Brands, Inc. (Class A) (b) | 5,307 | 117,550 | ||||||||||
Molson Coors Brewing Co. (Class B) | 4,766 | 239,206 | ||||||||||
356,756 | ||||||||||||
BIOTECHNOLOGY — 0.5% | ||||||||||||
Amgen, Inc. (b) | 13,000 | 713,700 | ||||||||||
Cephalon, Inc. (a)(b) | 1,400 | 86,408 | ||||||||||
800,108 | ||||||||||||
BUILDING PRODUCTS — 0.1% | ||||||||||||
Masco Corp. | 9,719 | 123,043 | ||||||||||
CAPITAL MARKETS — 4.1% | ||||||||||||
E*TRADE Financial Corp. (b) | 6,000 | 96,000 | ||||||||||
Federated Investors, Inc. (Class B) (a) | 968 | 25,333 | ||||||||||
Franklin Resources, Inc. | 1,600 | 177,936 | ||||||||||
Invesco, Ltd. | 7,351 | 176,865 | ||||||||||
Janus Capital Group, Inc. | 2,900 | 37,613 | ||||||||||
Legg Mason, Inc. | 4,574 | 165,899 | ||||||||||
Morgan Stanley | 45,388 | 1,235,007 | ||||||||||
Northern Trust Corp. | 4,700 | 260,427 | ||||||||||
State Street Corp. (c) | 15,100 | 699,734 | ||||||||||
The Bank of New York Mellon Corp. | 37,220 | 1,124,044 | ||||||||||
The Charles Schwab Corp. | 16,400 | 280,604 | ||||||||||
The Goldman Sachs Group, Inc. | 15,293 | 2,571,671 | ||||||||||
6,851,133 | ||||||||||||
CHEMICALS — 1.7% | ||||||||||||
Air Products & Chemicals, Inc. | 2,868 | 260,845 | ||||||||||
Airgas, Inc. | 800 | 49,968 | ||||||||||
E. I. du Pont de Nemours & Co. | 11,238 | 560,552 | ||||||||||
Eastman Chemical Co. (a) | 1,054 | 88,620 | ||||||||||
Monsanto Co. | 7,200 | 501,408 | ||||||||||
PPG Industries, Inc. | 1,989 | 167,215 | ||||||||||
The Dow Chemical Co. | 34,786 | 1,187,594 | ||||||||||
2,816,202 | ||||||||||||
COMMERCIAL BANKS — 4.6% | ||||||||||||
BB&T Corp. (a) | 20,775 | 546,175 | ||||||||||
Comerica, Inc. (a) | 5,296 | 223,703 | ||||||||||
Commerce Bancshares, Inc. | 2 | 68 | ||||||||||
Fifth Third Bancorp | 23,925 | 351,219 | ||||||||||
First Horizon National Corp. (a)(b) | 7,781 | 91,663 | ||||||||||
Huntington Bancshares, Inc. | 17,798 | 122,272 | ||||||||||
Keycorp | 22,756 | 201,391 | ||||||||||
M&T Bank Corp. | 3,582 | 311,813 | ||||||||||
Marshall & Ilsley Corp. | 15,860 | 109,751 | ||||||||||
PNC Financial Services Group, Inc. | 15,824 | 960,833 | ||||||||||
Regions Financial Corp. | 37,716 | 264,012 | ||||||||||
SunTrust Banks, Inc. | 15,000 | 442,650 | ||||||||||
U.S. Bancorp | 57,601 | 1,553,499 | ||||||||||
Wells Fargo & Co. | 80,374 | 2,490,790 | ||||||||||
Zions Bancorporation (a) | 5,300 | 128,419 | ||||||||||
7,798,258 | ||||||||||||
COMMERCIAL SERVICES & SUPPLIES — 0.5% | ||||||||||||
Avery Dennison Corp. | 1,999 | 84,638 | ||||||||||
Cintas Corp. | 3,272 | 91,485 | ||||||||||
Iron Mountain, Inc. | 2,800 | 70,028 | ||||||||||
Pitney Bowes, Inc. | 5,667 | 137,028 | ||||||||||
R.R. Donnelley & Sons Co. | 5,720 | 99,929 | ||||||||||
Republic Services, Inc. | 4,200 | 125,412 | ||||||||||
Waste Management, Inc. (a) | 8,682 | 320,105 | ||||||||||
928,625 | ||||||||||||
COMMUNICATIONS EQUIPMENT — 1.3% | ||||||||||||
Cisco Systems, Inc. (b) | 71,500 | 1,446,445 | ||||||||||
Harris Corp. | 1,700 | 77,010 | ||||||||||
Motorola, Inc. (b) | 70,500 | 639,435 | ||||||||||
Tellabs, Inc. | 11,100 | 75,258 | ||||||||||
2,238,148 | ||||||||||||
COMPUTERS & PERIPHERALS — 1.2% | ||||||||||||
Dell, Inc. (b) | 50,400 | 682,920 | ||||||||||
Hewlett-Packard Co. | 31,300 | 1,317,730 | ||||||||||
Lexmark International, Inc. (Class A) (b) | 2,400 | 83,568 | ||||||||||
2,084,218 | ||||||||||||
CONSTRUCTION & ENGINEERING — 0.3% | ||||||||||||
Fluor Corp. | 2,300 | 152,398 | ||||||||||
Jacobs Engineering Group, Inc. (b) | 3,800 | 174,230 | ||||||||||
Quanta Services, Inc. (b) | 6,500 | 129,480 | ||||||||||
456,108 | ||||||||||||
CONSTRUCTION MATERIALS — 0.1% | ||||||||||||
Vulcan Materials Co. | 3,826 | 169,721 | ||||||||||
See accompanying notes to financial statements.
26
Table of Contents
SPDR S&P 500 Value ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
CONSUMER FINANCE — 1.0% | ||||||||||||
American Express Co. | 14,141 | $ | 606,932 | |||||||||
Capital One Financial Corp. | 13,723 | 584,051 | ||||||||||
Discover Financial Services | 16,300 | 302,039 | ||||||||||
SLM Corp. (b) | 14,563 | 183,348 | ||||||||||
1,676,370 | ||||||||||||
CONTAINERS & PACKAGING — 0.2% | ||||||||||||
Bemis Co., Inc. | 2,808 | 91,709 | ||||||||||
Owens-Illinois, Inc. (b) | 4,514 | 138,580 | ||||||||||
Sealed Air Corp. | 4,815 | 122,542 | ||||||||||
352,831 | ||||||||||||
DISTRIBUTORS — 0.1% | ||||||||||||
Genuine Parts Co. | 4,695 | 241,041 | ||||||||||
DIVERSIFIED CONSUMER SERVICES — 0.1% | ||||||||||||
H&R Block, Inc. (a) | 8,449 | 100,628 | ||||||||||
DIVERSIFIED FINANCIAL SERVICES — 8.5% | ||||||||||||
Bank of America Corp. | 302,652 | 4,037,378 | ||||||||||
Citigroup, Inc. (b) | 871,779 | 4,123,515 | ||||||||||
CME Group, Inc. | 2,000 | 643,500 | ||||||||||
JPMorgan Chase & Co. | 117,274 | 4,974,763 | ||||||||||
Leucadia National Corp. | 2,400 | 70,032 | ||||||||||
Moody’s Corp. | 2,800 | 74,312 | ||||||||||
NYSE Euronext | 7,827 | 234,653 | ||||||||||
The NASDAQ OMX Group, Inc. (b) | 4,200 | 99,582 | ||||||||||
14,257,735 | ||||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 3.1% | ||||||||||||
AT&T, Inc. | 102,851 | 3,021,762 | ||||||||||
CenturyLink, Inc. | 4,519 | 208,642 | ||||||||||
Frontier Communications Corp. | 15,835 | 154,075 | ||||||||||
Verizon Communications, Inc. | 50,846 | 1,819,270 | ||||||||||
Windstream Corp. (a) | 5,765 | 80,364 | ||||||||||
5,284,113 | ||||||||||||
ELECTRICAL EQUIPMENT — 0.3% | ||||||||||||
Emerson Electric Co. | 10,200 | 583,134 | ||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 0.3% | ||||||||||||
Corning, Inc. | 17,400 | 336,168 | ||||||||||
Jabil Circuit, Inc. | 5,900 | 118,531 | ||||||||||
Molex, Inc. (a) | 3,338 | 75,839 | ||||||||||
530,538 | ||||||||||||
ENERGY EQUIPMENT & SERVICES — 0.8% | ||||||||||||
Baker Hughes, Inc. | 7,200 | 411,624 | ||||||||||
Halliburton Co. | 13,100 | 534,873 | ||||||||||
Helmerich & Payne, Inc. | 1,400 | 67,872 | ||||||||||
Nabors Industries, Ltd. (b) | 8,600 | 201,756 | ||||||||||
Rowan Cos., Inc. (b) | 3,800 | 132,658 | ||||||||||
1,348,783 | ||||||||||||
FOOD & STAPLES RETAILING — 4.7% | ||||||||||||
Costco Wholesale Corp. | 13,000 | 938,730 | ||||||||||
CVS Caremark Corp. | 40,800 | 1,418,616 | ||||||||||
Safeway, Inc. | 11,223 | 252,405 | ||||||||||
SUPERVALU, Inc. (a) | 5,291 | 50,953 | ||||||||||
Sysco Corp. | 17,573 | 516,646 | ||||||||||
The Kroger Co. | 19,100 | 427,076 | ||||||||||
Wal-Mart Stores, Inc. | 58,800 | 3,171,084 | ||||||||||
Walgreen Co. | 27,800 | 1,083,088 | ||||||||||
7,858,598 | ||||||||||||
FOOD PRODUCTS — 1.9% | ||||||||||||
Archer-Daniels-Midland Co. | 19,160 | 576,333 | ||||||||||
Campbell Soup Co. (a) | 2,749 | 95,528 | ||||||||||
ConAgra Foods, Inc. | 13,168 | 297,334 | ||||||||||
Dean Foods Co. (a)(b) | 5,500 | 48,620 | ||||||||||
General Mills, Inc. | 7,060 | 251,265 | ||||||||||
H.J. Heinz Co. | 3,439 | 170,093 | ||||||||||
Hormel Foods Corp. | 847 | 43,417 | ||||||||||
Kellogg Co. | 2,988 | 152,627 | ||||||||||
Kraft Foods, Inc. (Class A) | 27,253 | 858,742 | ||||||||||
McCormick & Co., Inc. | 1,513 | 70,400 | ||||||||||
Sara Lee Corp. | 8,991 | 157,432 | ||||||||||
The Hershey Co. (a) | 1,947 | 91,801 | ||||||||||
The J.M. Smucker Co. | 3,537 | 232,204 | ||||||||||
Tyson Foods, Inc. (Class A) | 8,912 | 153,465 | ||||||||||
3,199,261 | ||||||||||||
GAS UTILITIES — 0.0% | ||||||||||||
Nicor, Inc. (a) | 1,400 | 69,888 | ||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 1.0% | ||||||||||||
Baxter International, Inc. | 6,300 | 318,906 | ||||||||||
Becton, Dickinson & Co. | 2,500 | 211,300 | ||||||||||
Boston Scientific Corp. (a)(b) | 45,600 | 345,192 | ||||||||||
CareFusion Corp. (b) | 6,700 | 172,190 | ||||||||||
DENTSPLY International, Inc. | 1,700 | 58,089 | ||||||||||
Medtronic, Inc. | 11,700 | 433,953 | ||||||||||
Zimmer Holdings, Inc. (b) | 2,200 | 118,096 | ||||||||||
1,657,726 | ||||||||||||
HEALTH CARE PROVIDERS & SERVICES — 2.3% | ||||||||||||
Aetna, Inc. | 12,000 | 366,120 | ||||||||||
AmerisourceBergen Corp. | 4,100 | 139,892 | ||||||||||
Cardinal Health, Inc. | 10,461 | 400,761 | ||||||||||
Coventry Health Care, Inc. (b) | 4,500 | 118,800 | ||||||||||
Humana, Inc. (b) | 5,099 | 279,119 | ||||||||||
McKesson Corp. | 7,600 | 534,888 | ||||||||||
Quest Diagnostics, Inc. | 2,100 | 113,337 | ||||||||||
UnitedHealth Group, Inc. | 33,000 | 1,191,630 | ||||||||||
WellPoint, Inc. (b) | 11,800 | 670,948 | ||||||||||
3,815,495 | ||||||||||||
HOTELS, RESTAURANTS & LEISURE — 0.2% | ||||||||||||
Carnival Corp. | 6,302 | 290,585 | ||||||||||
International Game Technology (a) | 5,100 | 90,219 | ||||||||||
380,804 | ||||||||||||
HOUSEHOLD DURABLES — 0.7% | ||||||||||||
D.R. Horton, Inc. (a) | 7,460 | 88,998 | ||||||||||
Fortune Brands, Inc. | 4,572 | 275,463 | ||||||||||
Harman International Industries, Inc. (b) | 900 | 41,670 | ||||||||||
Leggett & Platt, Inc. | 4,081 | 92,883 | ||||||||||
Lennar Corp. (Class A) | 2,380 | 44,625 | ||||||||||
Newell Rubbermaid, Inc. | 8,679 | 157,784 | ||||||||||
Pulte Group, Inc. (a)(b) | 7,993 | 60,107 | ||||||||||
Stanley Black & Decker, Inc. | 2,449 | 163,765 |
See accompanying notes to financial statements.
27
Table of Contents
SPDR S&P 500 Value ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Whirlpool Corp. | 2,318 | $ | 205,908 | |||||||||
1,131,203 | ||||||||||||
HOUSEHOLD PRODUCTS — 1.9% | ||||||||||||
Kimberly-Clark Corp. | 4,756 | 299,818 | ||||||||||
Procter & Gamble Co. | 43,679 | 2,809,870 | ||||||||||
The Clorox Co. | 1,575 | 99,666 | ||||||||||
3,209,354 | ||||||||||||
INDUSTRIAL CONGLOMERATES — 4.3% | ||||||||||||
3M Co. | 9,620 | 830,206 | ||||||||||
General Electric Co. | 319,705 | 5,847,404 | ||||||||||
Textron, Inc. (a) | 8,200 | 193,848 | ||||||||||
Tyco International, Ltd. | 7,745 | 320,953 | ||||||||||
7,192,411 | ||||||||||||
INSURANCE — 7.7% | ||||||||||||
ACE, Ltd. | 10,187 | 634,141 | ||||||||||
AFLAC, Inc. | 5,497 | 310,196 | ||||||||||
American International Group, Inc. (b) | 4,209 | 242,523 | ||||||||||
AON Corp. | 9,924 | 456,603 | ||||||||||
Assurant, Inc. | 3,232 | 124,497 | ||||||||||
Berkshire Hathaway, Inc. (Class B) (b) | 51,900 | 4,157,709 | ||||||||||
Chubb Corp. | 9,107 | 543,142 | ||||||||||
Cincinnati Financial Corp. | 4,909 | 155,566 | ||||||||||
Genworth Financial, Inc. (Class A) (b) | 14,721 | 193,434 | ||||||||||
Hartford Financial Services Group, Inc. | 13,376 | 354,330 | ||||||||||
Lincoln National Corp. | 9,517 | 264,668 | ||||||||||
Loews Corp. | 9,514 | 370,190 | ||||||||||
Marsh & McLennan Cos., Inc. | 16,310 | 445,915 | ||||||||||
MetLife, Inc. | 27,207 | 1,209,079 | ||||||||||
Principal Financial Group, Inc. | 9,588 | 312,185 | ||||||||||
Prudential Financial, Inc. | 14,564 | 855,052 | ||||||||||
The Allstate Corp. | 16,116 | 513,778 | ||||||||||
The Progressive Corp. | 19,912 | 395,651 | ||||||||||
The Travelers Cos., Inc. | 13,763 | 766,737 | ||||||||||
Torchmark Corp. | 2,270 | 135,610 | ||||||||||
Unum Group | 9,492 | 229,896 | ||||||||||
XL Group PLC | 9,711 | 211,894 | ||||||||||
12,882,796 | ||||||||||||
INTERNET SOFTWARE & SERVICES — 0.3% | ||||||||||||
Monster Worldwide, Inc. (b) | 1,900 | 44,897 | ||||||||||
VeriSign, Inc. | 2,300 | 75,141 | ||||||||||
Yahoo!, Inc. (b) | 20,700 | 344,241 | ||||||||||
464,279 | ||||||||||||
IT SERVICES — 0.6% | ||||||||||||
Automatic Data Processing, Inc. | 5,300 | 245,284 | ||||||||||
Computer Sciences Corp. | 4,621 | 229,202 | ||||||||||
Fidelity National Information Services, Inc. | 7,900 | 216,381 | ||||||||||
Fiserv, Inc. (b) | 1,900 | 111,264 | ||||||||||
Paychex, Inc. | 4,108 | 126,978 | ||||||||||
SAIC, Inc. (b) | 4,800 | 76,128 | ||||||||||
Total System Services, Inc. | 3,100 | 47,678 | ||||||||||
1,052,915 | ||||||||||||
LEISURE EQUIPMENT & PRODUCTS — 0.1% | ||||||||||||
Mattel, Inc. | 3,977 | 101,135 | ||||||||||
LIFE SCIENCES TOOLS & SERVICES — 0.2% | ||||||||||||
PerkinElmer, Inc. | 1,600 | 41,312 | ||||||||||
Thermo Fisher Scientific, Inc. (b) | 4,800 | 265,728 | ||||||||||
307,040 | ||||||||||||
MACHINERY — 1.5% | ||||||||||||
Caterpillar, Inc. | 8,800 | 824,208 | ||||||||||
Danaher Corp. (a) | 6,300 | 297,171 | ||||||||||
Dover Corp. | 2,600 | 151,970 | ||||||||||
Eaton Corp. | 2,585 | 262,404 | ||||||||||
Illinois Tool Works, Inc. (a) | 7,000 | 373,800 | ||||||||||
PACCAR, Inc. (a) | 6,200 | 356,004 | ||||||||||
Parker-Hannifin Corp. | 2,014 | 173,808 | ||||||||||
Snap-On, Inc. | 1,000 | 56,580 | ||||||||||
2,495,945 | ||||||||||||
MEDIA — 2.1% | ||||||||||||
CBS Corp. | 20,403 | 388,677 | ||||||||||
Gannett Co., Inc. | 7,122 | 107,471 | ||||||||||
Meredith Corp. (a) | 600 | 20,790 | ||||||||||
News Corp. (Class A) | 28,832 | 419,794 | ||||||||||
Omnicom Group, Inc. | 3,408 | 156,086 | ||||||||||
The McGraw-Hill Cos., Inc. | 3,925 | 142,909 | ||||||||||
The Walt Disney Co. | 26,128 | 980,061 | ||||||||||
The Washington Post Co. (Class B) (a) | 200 | 87,900 | ||||||||||
Time Warner Cable, Inc. | 3,700 | 244,311 | ||||||||||
Time Warner, Inc. | 33,291 | 1,070,972 | ||||||||||
3,618,971 | ||||||||||||
METALS & MINING — 0.7% | ||||||||||||
AK Steel Holding Corp. (a) | 3,300 | 54,021 | ||||||||||
Alcoa, Inc. | 30,700 | 472,473 | ||||||||||
Allegheny Technologies, Inc. | 1,800 | 99,324 | ||||||||||
Nucor Corp. (a) | 9,500 | 416,290 | ||||||||||
Titanium Metals Corp. (b) | 1,600 | 27,488 | ||||||||||
United States Steel Corp. | 3,300 | 192,786 | ||||||||||
1,262,382 | ||||||||||||
MULTI-UTILITIES — 6.7% | ||||||||||||
Allegheny Energy, Inc. | 5,076 | 123,042 | ||||||||||
Ameren Corp. | 7,230 | 203,814 | ||||||||||
American Electric Power Co., Inc. | 14,454 | 520,055 | ||||||||||
CenterPoint Energy, Inc. | 12,688 | 199,455 | ||||||||||
CMS Energy Corp. | 7,294 | 135,668 | ||||||||||
Consolidated Edison, Inc. | 8,706 | 431,556 | ||||||||||
Constellation Energy Group, Inc. | 5,956 | 182,432 | ||||||||||
Dominion Resources, Inc. | 9,887 | 422,373 | ||||||||||
DTE Energy Co. | 5,100 | 231,132 | ||||||||||
Duke Energy Corp. | 39,727 | 707,538 | ||||||||||
Edison International (a) | 9,808 | 378,589 | ||||||||||
El Paso Corp. | 8,830 | 121,501 | ||||||||||
Entergy Corp. | 5,387 | 381,561 | ||||||||||
Exelon Corp. | 19,874 | 827,553 | ||||||||||
FirstEnergy Corp. (a) | 9,176 | 339,696 | ||||||||||
Integrys Energy Group, Inc. (a) | 2,066 | 100,222 | ||||||||||
NextEra Energy, Inc. | 12,485 | 649,095 | ||||||||||
NiSource, Inc. | 7,444 | 131,163 | ||||||||||
Northeast Utilities | 5,249 | 167,338 |
See accompanying notes to financial statements.
28
Table of Contents
SPDR S&P 500 Value ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
NRG Energy, Inc. (b) | 7,400 | $ | 144,596 | |||||||||
Oneok, Inc. | 3,200 | 177,504 | ||||||||||
Pepco Holdings, Inc. | 5,933 | 108,277 | ||||||||||
PG&E Corp. | 11,764 | 562,790 | ||||||||||
Pinnacle West Capital Corp. | 3,284 | 136,122 | ||||||||||
PPL Corp. | 14,500 | 381,640 | ||||||||||
Progress Energy, Inc. | 8,798 | 382,537 | ||||||||||
Public Service Enterprise Group, Inc. | 15,206 | 483,703 | ||||||||||
SCANA Corp. | 3,379 | 137,187 | ||||||||||
Sempra Energy | 7,159 | 375,704 | ||||||||||
Southern Co. | 15,333 | 586,181 | ||||||||||
Spectra Energy Corp. | 9,723 | 242,978 | ||||||||||
TECO Energy, Inc. | 6,477 | 115,291 | ||||||||||
The AES Corp. (b) | 19,900 | 242,382 | ||||||||||
The Williams Cos., Inc. | 17,562 | 434,133 | ||||||||||
Wisconsin Energy Corp. | 1,903 | 112,011 | ||||||||||
Xcel Energy, Inc. | 13,857 | 326,332 | ||||||||||
11,203,151 | ||||||||||||
MULTILINE RETAIL — 0.7% | ||||||||||||
Big Lots, Inc. (b) | 1,000 | 30,460 | ||||||||||
J.C. Penney Co., Inc. | 7,064 | 228,238 | ||||||||||
Kohl’s Corp. (b) | 3,700 | 201,058 | ||||||||||
Macy’s, Inc. | 4,792 | 121,237 | ||||||||||
Sears Holdings Corp. (a)(b) | 1,300 | 95,875 | ||||||||||
Target Corp. | 9,100 | 547,183 | ||||||||||
1,224,051 | ||||||||||||
OFFICE ELECTRONICS — 0.3% | ||||||||||||
Xerox Corp. | 41,633 | 479,612 | ||||||||||
OIL, GAS & CONSUMABLE FUELS — 15.8% | ||||||||||||
Anadarko Petroleum Corp. | 9,500 | 723,520 | ||||||||||
Apache Corp. | 5,888 | 702,026 | ||||||||||
Cabot Oil & Gas Corp. | 1,800 | 68,130 | ||||||||||
Chesapeake Energy Corp. (a) | 12,200 | 316,102 | ||||||||||
Chevron Corp. | 60,404 | 5,511,865 | ||||||||||
ConocoPhillips | 44,083 | 3,002,052 | ||||||||||
Devon Energy Corp. | 8,148 | 639,700 | ||||||||||
EOG Resources, Inc. | 4,100 | 374,781 | ||||||||||
EQT Corp. | 2,500 | 112,100 | ||||||||||
Exxon Mobil Corp. | 151,316 | 11,064,226 | ||||||||||
Hess Corp. | 9,000 | 688,860 | ||||||||||
Marathon Oil Corp. | 21,325 | 789,665 | ||||||||||
Murphy Oil Corp. | 2,900 | 216,195 | ||||||||||
Noble Energy, Inc. | 2,900 | 249,632 | ||||||||||
Occidental Petroleum Corp. | 12,200 | 1,196,820 | ||||||||||
QEP Resources, Inc. | 5,300 | 192,443 | ||||||||||
Range Resources Corp. | 2,400 | 107,952 | ||||||||||
Sunoco, Inc. | 3,600 | 145,116 | ||||||||||
Tesoro Corp. (a)(b) | 4,300 | 79,722 | ||||||||||
Valero Energy Corp. | 16,977 | 392,508 | ||||||||||
26,573,415 | ||||||||||||
PAPER & FOREST PRODUCTS — 0.5% | ||||||||||||
International Paper Co. | 13,162 | 358,533 | ||||||||||
MeadWestvaco Corp. | 4,596 | 120,231 | ||||||||||
Weyerhaeuser Co. | 16,078 | 304,357 | ||||||||||
783,121 | ||||||||||||
PHARMACEUTICALS — 4.8% | ||||||||||||
Bristol-Myers Squibb Co. | 23,669 | 626,755 | �� | |||||||||
Forest Laboratories, Inc. (b) | 2,960 | 94,661 | ||||||||||
Johnson & Johnson | 32,928 | 2,036,597 | ||||||||||
Merck & Co., Inc. | 32,377 | 1,166,867 | ||||||||||
Pfizer, Inc. | 240,330 | 4,208,178 | ||||||||||
8,133,058 | ||||||||||||
PROFESSIONAL SERVICES — 0.1% | ||||||||||||
Equifax, Inc. | 1,500 | 53,400 | ||||||||||
Robert Half International, Inc. (a) | 2,500 | 76,500 | ||||||||||
129,900 | ||||||||||||
REAL ESTATE INVESTMENT TRUSTS — 1.0% | ||||||||||||
Apartment Investment & Management Co. (Class A) | 1,600 | 41,344 | ||||||||||
Boston Properties, Inc. | 2,200 | 189,420 | ||||||||||
HCP, Inc. | 4,801 | 176,629 | ||||||||||
Health Care REIT, Inc. | 2,471 | 117,718 | ||||||||||
Host Hotels & Resorts, Inc. | 11,170 | 199,608 | ||||||||||
Kimco Realty Corp. | 8,417 | 151,843 | ||||||||||
Plum Creek Timber Co., Inc. | 2,664 | 99,767 | ||||||||||
ProLogis | 17,112 | 247,097 | ||||||||||
Public Storage | 1,700 | 172,414 | ||||||||||
Vornado Realty Trust | 2,647 | 220,574 | ||||||||||
1,616,414 | ||||||||||||
ROAD & RAIL — 0.8% | ||||||||||||
CSX Corp. | 4,500 | 290,745 | ||||||||||
Norfolk Southern Corp. | 6,401 | 402,111 | ||||||||||
Ryder Systems, Inc. | 1,452 | 76,433 | ||||||||||
Union Pacific Corp. | 5,800 | 537,428 | ||||||||||
1,306,717 | ||||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 1.4% | ||||||||||||
Applied Materials, Inc. | 24,465 | 343,733 | ||||||||||
Intel Corp. | 70,289 | 1,478,177 | ||||||||||
KLA-Tencor Corp. | 2,598 | 100,387 | ||||||||||
LSI Corp. (b) | 10,500 | 62,895 | ||||||||||
MEMC Electronic Materials, Inc. (b) | 6,800 | 76,568 | ||||||||||
National Semiconductor Corp. | 3,622 | 49,839 | ||||||||||
Novellus Systems, Inc. (b) | 1,400 | 45,248 | ||||||||||
NVIDIA Corp. (b) | 7,500 | 115,500 | ||||||||||
Teradyne, Inc. (a)(b) | 2,300 | 32,292 | ||||||||||
2,304,639 | ||||||||||||
SOFTWARE — 0.3% | ||||||||||||
Adobe Systems, Inc. (b) | 7,300 | 224,694 | ||||||||||
CA, Inc. | 3,800 | 92,872 | ||||||||||
Compuware Corp. (a)(b) | 2,300 | 26,841 | ||||||||||
Electronic Arts, Inc. (b) | 5,800 | 95,004 | ||||||||||
Novell, Inc. (b) | 10,600 | 62,752 | ||||||||||
502,163 | ||||||||||||
SPECIALTY RETAIL — 2.2% | ||||||||||||
Abercrombie & Fitch Co. (Class A) | 1,065 | 61,376 | ||||||||||
AutoNation, Inc. (a)(b) | 1,817 | 51,239 | ||||||||||
Best Buy Co., Inc. (a) | 4,300 | 147,447 | ||||||||||
GameStop Corp. (Class A) (a)(b) | 4,500 | 102,960 | ||||||||||
Lowe’s Cos., Inc. | 41,400 | 1,038,312 | ||||||||||
RadioShack Corp. | 3,400 | 62,866 | ||||||||||
Staples, Inc. | 10,900 | 248,193 | ||||||||||
The Gap, Inc. | 5,776 | 127,881 |
See accompanying notes to financial statements.
29
Table of Contents
SPDR S&P 500 Value ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
The Home Depot, Inc. | 49,217 | $ | 1,725,548 | |||||||||
The Sherwin-Williams Co. | 1,300 | 108,875 | ||||||||||
3,674,697 | ||||||||||||
TEXTILES, APPAREL & LUXURY GOODS — 0.1% | ||||||||||||
V.F. Corp. | 1,127 | 97,125 | ||||||||||
THRIFTS & MORTGAGE FINANCE — 0.1% | ||||||||||||
Hudson City Bancorp, Inc. | 7,100 | 90,454 | ||||||||||
People’s United Financial, Inc. | 11,113 | 155,693 | ||||||||||
246,147 | ||||||||||||
TOBACCO — 0.8% | ||||||||||||
Altria Group, Inc. (a) | 40,723 | 1,002,600 | ||||||||||
Lorillard, Inc. | 2,507 | 205,724 | ||||||||||
Reynolds American, Inc. | 4,954 | 161,600 | ||||||||||
1,369,924 | ||||||||||||
WIRELESS TELECOMMUNICATION SERVICES — 0.2% | ||||||||||||
Sprint Nextel Corp. (b) | 89,613 | 379,063 | ||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $166,510,982) | 167,668,322 | |||||||||||
SHORT TERM INVESTMENTS — 2.4% | ||||||||||||
MONEY MARKET FUNDS — 2.4% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 3,776,338 | 3,776,338 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (e)(f) | 310,954 | 310,954 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $4,087,292) | 4,087,292 | |||||||||||
TOTAL INVESTMENTS — 102.1% (g) | ||||||||||||
(Cost $170,598,274) | 171,755,614 | |||||||||||
OTHER ASSETS & LIABILITIES — (2.1)% | (3,584,270 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 168,171,344 | ||||||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Non-income producing security. | |||||
(c) | Affiliated issuer. (Note 3) | |||||
(d) | Investments of cash collateral for securities loaned. | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
30
Table of Contents
SPDR Dow Jones Mid Cap ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.8% | ||||||||||||
AEROSPACE & DEFENSE — 0.7% | ||||||||||||
Alliant Techsystems, Inc. (a)(b) | 1,172 | $ | 87,232 | |||||||||
BE Aerospace, Inc. (b) | 3,714 | 137,529 | ||||||||||
Spirit Aerosystems Holdings, Inc. (a)(b) | 4,000 | 83,240 | ||||||||||
TransDigm Group, Inc. (b) | 1,389 | 100,022 | ||||||||||
408,023 | ||||||||||||
AIR FREIGHT & LOGISTICS — 0.1% | ||||||||||||
UTI Worldwide, Inc. | 3,823 | 81,048 | ||||||||||
AIRLINES — 0.8% | ||||||||||||
AMR Corp. (a)(b) | 12,495 | 97,336 | ||||||||||
JetBlue Airways Corp. (b) | 9,167 | 60,594 | ||||||||||
United Continental Holdings, Inc. (b) | 12,069 | 287,483 | ||||||||||
445,413 | ||||||||||||
AUTO COMPONENTS — 1.6% | ||||||||||||
BorgWarner, Inc. (a)(b) | 4,348 | 314,621 | ||||||||||
Gentex Corp. | 5,174 | 152,944 | ||||||||||
Lear Corp. (a)(b) | 1,892 | 186,759 | ||||||||||
The Goodyear Tire & Rubber Co. (b) | 9,024 | 106,934 | ||||||||||
TRW Automotive Holdings Corp. (a)(b) | 3,845 | 202,632 | ||||||||||
963,890 | ||||||||||||
BEVERAGES — 0.5% | ||||||||||||
Constellation Brands, Inc. (Class A) (b) | 7,177 | 158,970 | ||||||||||
Hansen Natural Corp. (b) | 2,657 | 138,908 | ||||||||||
297,878 | ||||||||||||
BIOTECHNOLOGY — 2.0% | ||||||||||||
Alexion Pharmaceuticals, Inc. (a)(b) | 3,417 | 275,239 | ||||||||||
Amylin Pharmaceuticals, Inc. (a)(b) | 4,925 | 72,447 | ||||||||||
BioMarin Pharmaceutical, Inc. (a)(b) | 3,831 | 103,169 | ||||||||||
Dendreon Corp. (a)(b) | 5,491 | 191,746 | ||||||||||
Human Genome Sciences, Inc. (a)(b) | 7,147 | 170,742 | ||||||||||
Onyx Pharmaceuticals, Inc. (b) | 2,335 | 86,091 | ||||||||||
Regeneron Pharmaceuticals, Inc. (a)(b) | 2,649 | 86,967 | ||||||||||
Talecris Biotherapeutics Holdings Corp. (b) | 2,346 | 54,662 | ||||||||||
United Therapeutics Corp. (a)(b) | 1,870 | 118,221 | ||||||||||
1,159,284 | ||||||||||||
BUILDING PRODUCTS — 0.5% | ||||||||||||
Armstrong World Industries, Inc. (a) | 679 | 29,197 | ||||||||||
Lennox International, Inc. (a) | 1,930 | 91,270 | ||||||||||
Masco Corp. (a) | 13,737 | 173,910 | ||||||||||
294,377 | ||||||||||||
CAPITAL MARKETS — 2.5% | ||||||||||||
Affiliated Managers Group, Inc. (a)(b) | 1,953 | 193,777 | ||||||||||
E*TRADE Financial Corp. (a)(b) | 7,540 | 120,640 | ||||||||||
Eaton Vance Corp. (a) | 4,553 | 137,637 | ||||||||||
Federated Investors, Inc. (Class B) (a) | 3,866 | 101,173 | ||||||||||
Greenhill & Co., Inc. (a) | 1,107 | 90,420 | ||||||||||
Jefferies Group, Inc. (a) | 4,212 | 112,166 | ||||||||||
Legg Mason, Inc. (a) | 5,494 | 199,267 | ||||||||||
LPL Investment Holdings, Inc. (b) | 600 | 21,822 | ||||||||||
Owens Corning, Inc. (a)(b) | 4,305 | 134,101 | ||||||||||
Raymond James Financial, Inc. | 3,717 | 121,546 | ||||||||||
SEI Investments Co. | 5,893 | 140,194 | ||||||||||
Waddell & Reed Financial, Inc. (Class A) (a) | 3,235 | 114,163 | ||||||||||
1,486,906 | ||||||||||||
CHEMICALS — 3.0% | ||||||||||||
Albemarle Corp. (a) | 3,492 | 194,784 | ||||||||||
Ashland, Inc. | 2,714 | 138,034 | ||||||||||
Celanese Corp. (Series A) | 5,981 | 246,238 | ||||||||||
Cytec Industries, Inc. | 1,822 | 96,675 | ||||||||||
Eastman Chemical Co. (a) | 2,608 | 219,281 | ||||||||||
Huntsman Corp. (a) | 7,228 | 112,829 | ||||||||||
International Flavors & Fragrances, Inc. | 3,004 | 166,992 | ||||||||||
Intrepid Potash, Inc. (a)(b) | 1,601 | 59,701 | ||||||||||
Nalco Holding Co. (a) | 4,945 | 157,943 | ||||||||||
Rockwood Holdings, Inc. (a)(b) | 1,908 | 74,641 | ||||||||||
RPM International, Inc. | 4,838 | 106,920 | ||||||||||
The Scotts Miracle-Gro Co. (Class A) | 1,688 | 85,700 | ||||||||||
The Valspar Corp. | 3,493 | 120,439 | ||||||||||
1,780,177 | ||||||||||||
COMMERCIAL BANKS — 3.2% | ||||||||||||
Associated Ban-Corp. (a) | 6,499 | 98,460 | ||||||||||
Bank of Hawaii Corp. (a) | 1,793 | 84,648 | ||||||||||
BOK Financial Corp. (a) | 1,030 | 55,002 | ||||||||||
City National Corp. (a) | 1,795 | 110,141 | ||||||||||
Commerce Bancshares, Inc. (a) | 2,917 | 115,888 | ||||||||||
Cullen/Frost Bankers, Inc. (a) | 2,134 | 130,430 | ||||||||||
East West Bancorp, Inc. (a) | 5,560 | 108,698 | ||||||||||
First Citizens BancShares, Inc. (Class A) | 219 | 41,402 | ||||||||||
First Horizon National Corp. (a)(b) | 8,830 | 104,020 | ||||||||||
First Republic Bank (b) | 400 | 11,648 | ||||||||||
FirstMerit Corp. (a) | 4,050 | 80,149 | ||||||||||
Fulton Financial Corp. (a) | 7,567 | 78,243 | ||||||||||
Huntington Bancshares, Inc. | 32,629 | 224,161 | ||||||||||
Marshall & Ilsley Corp. | 19,891 | 137,646 | ||||||||||
Prosperity Bancshares, Inc. (a) | 1,731 | 67,994 | ||||||||||
TCF Financial Corp. (a) | 5,103 | 75,575 | ||||||||||
UMB Financial Corp. (a) | 1,257 | 52,065 | ||||||||||
Valley National Bancorp (a) | 6,093 | 87,130 | ||||||||||
Westamerica Bancorporation (a) | 1,079 | 59,852 | ||||||||||
Zions Bancorporation (a) | 6,629 | 160,621 | ||||||||||
1,883,773 | ||||||||||||
COMMERCIAL SERVICES & SUPPLIES — 2.1% | ||||||||||||
Avery Dennison Corp. (a) | 3,964 | 167,836 | ||||||||||
Cintas Corp. (a) | 4,772 | 133,425 | ||||||||||
Clean Harbors, Inc. (a)(b) | 860 | 72,309 |
See accompanying notes to financial statements.
31
Table of Contents
SPDR Dow Jones Mid Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Copart, Inc. (b) | 2,795 | $ | 104,393 | |||||||||
Corrections Corp. of America (a)(b) | 4,152 | 104,049 | ||||||||||
Covanta Holding Corp. (a) | 4,893 | 84,111 | ||||||||||
KAR Auction Services, Inc. (a)(b) | 907 | 12,517 | ||||||||||
Pitney Bowes, Inc. (a) | 7,929 | 191,723 | ||||||||||
Quad Graphics, Inc. (a)(b) | 961 | 39,651 | ||||||||||
R.R. Donnelley & Sons Co. (a) | 7,843 | 137,017 | ||||||||||
Rollins, Inc. (a) | 2,911 | 57,492 | ||||||||||
Waste Connections, Inc. (a) | 4,476 | 123,224 | ||||||||||
1,227,747 | ||||||||||||
COMMUNICATIONS EQUIPMENT — 1.3% | ||||||||||||
Brocade Communications Systems, Inc. (b) | 16,757 | 88,644 | ||||||||||
CommScope, Inc. (b) | 3,518 | 109,832 | ||||||||||
EchoStar Corp. (Class A) (b) | 1,579 | 39,428 | ||||||||||
JDS Uniphase Corp. (a)(b) | 8,192 | 118,620 | ||||||||||
Polycom, Inc. (a)(b) | 3,213 | 125,243 | ||||||||||
Riverbed Technology, Inc. (a)(b) | 5,544 | 194,982 | ||||||||||
Tellabs, Inc. | 13,293 | 90,127 | ||||||||||
766,876 | ||||||||||||
COMPUTERS & PERIPHERALS — 1.0% | ||||||||||||
Diebold, Inc. (a) | 2,530 | 81,087 | ||||||||||
Lexmark International, Inc. (Class A) (b) | 2,999 | 104,425 | ||||||||||
NCR Corp. (a)(b) | 6,077 | 93,403 | ||||||||||
QLogic Corp. (b) | 4,106 | 69,884 | ||||||||||
Teradata Corp. (b) | 6,357 | 261,654 | ||||||||||
610,453 | ||||||||||||
CONSTRUCTION & ENGINEERING — 1.6% | ||||||||||||
Aecom Technology Corp. (a)(b) | 3,890 | 108,803 | ||||||||||
EMCOR Group, Inc. (a)(b) | 2,522 | 73,088 | ||||||||||
Foster Wheeler AG (a)(b) | 4,587 | 158,343 | ||||||||||
KBR, Inc. | 5,975 | 182,058 | ||||||||||
Quanta Services, Inc. (a)(b) | 8,020 | 159,758 | ||||||||||
The Shaw Group, Inc. (b) | 3,116 | 106,661 | ||||||||||
URS Corp. (b) | 3,139 | 130,614 | ||||||||||
919,325 | ||||||||||||
CONSTRUCTION MATERIALS — 0.3% | ||||||||||||
Martin Marietta Materials, Inc. (a) | 1,735 | 160,036 | ||||||||||
CONSUMER FINANCE — 0.0% (c) | ||||||||||||
Green Dot Corp. (Class A) (a)(b) | 317 | 17,987 | ||||||||||
CONTAINERS & PACKAGING — 2.1% | ||||||||||||
AptarGroup, Inc. | 2,363 | 112,408 | ||||||||||
Bemis Co., Inc. | 4,160 | 135,866 | ||||||||||
Greif, Inc. (Class A) | 1,283 | 79,418 | ||||||||||
Owens-Illinois, Inc. (b) | 6,300 | 193,410 | ||||||||||
Packaging Corp. of America | 3,848 | 99,432 | ||||||||||
Rock-Tenn Co. (Class A) | 1,456 | 78,551 | ||||||||||
Sealed Air Corp. (a) | 6,047 | 153,896 | ||||||||||
Silgan Holdings, Inc. (a) | 1,904 | 68,182 | ||||||||||
Smurfit-Stone Container Corp. (b) | 3,436 | 87,962 | ||||||||||
Sonoco Products Co. | 3,837 | 129,192 | ||||||||||
Temple-Inland, Inc. | 4,042 | 85,852 | ||||||||||
1,224,169 | ||||||||||||
DISTRIBUTORS — 0.2% | ||||||||||||
LKQ Corp. (b) | 5,354 | 121,643 | ||||||||||
DIVERSIFIED CONSUMER SERVICES — 0.8% | ||||||||||||
Career Education Corp. (a)(b) | 2,534 | 52,530 | ||||||||||
DeVry, Inc. | 2,327 | 111,649 | ||||||||||
Education Management Corp. (a)(b) | 1,622 | 29,358 | ||||||||||
ITT Educational Services, Inc. (a)(b) | 1,198 | 76,301 | ||||||||||
Service Corp. International | 9,276 | 76,527 | ||||||||||
Strayer Education, Inc. | 527 | 80,220 | ||||||||||
Weight Watchers International, Inc. (a) | 1,303 | 48,849 | ||||||||||
475,434 | ||||||||||||
DIVERSIFIED FINANCIAL SERVICES — 0.6% | ||||||||||||
CBOE Holdings, Inc. | 386 | 8,824 | ||||||||||
MSCI, Inc. (Class A) (a)(b) | 4,491 | 174,969 | ||||||||||
The NASDAQ OMX Group, Inc. (b) | 6,090 | 144,394 | ||||||||||
328,187 | ||||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 0.3% | ||||||||||||
Level 3 Communications, Inc. (a)(b) | 61,909 | 60,671 | ||||||||||
tw telecom, inc. (a)(b) | 5,751 | 98,054 | ||||||||||
158,725 | ||||||||||||
ELECTRIC UTILITIES — 1.2% | ||||||||||||
Cleco Corp. (a) | 2,268 | 69,764 | ||||||||||
DPL, Inc. (a) | 4,602 | 118,317 | ||||||||||
Great Plains Energy, Inc. (a) | 5,081 | 98,521 | ||||||||||
Hawaiian Electric Industries, Inc. (a) | 3,451 | 78,648 | ||||||||||
IDACORP, Inc. | 1,820 | 67,304 | ||||||||||
ITC Holdings Corp. (a) | 1,896 | 117,514 | ||||||||||
Portland General Electric Co. | 2,824 | 61,281 | ||||||||||
Westar Energy, Inc. (a) | 4,166 | 104,816 | ||||||||||
716,165 | ||||||||||||
ELECTRICAL EQUIPMENT — 1.5% | ||||||||||||
Acuity Brands, Inc. (a) | 1,616 | 93,195 | ||||||||||
AMETEK, Inc. | 6,071 | 238,267 | ||||||||||
Babcock & Wilcox Co. (a)(b) | 4,338 | 111,009 | ||||||||||
Brady Corp. (Class A) (a) | 1,758 | 57,328 | ||||||||||
Hubbell, Inc. (Class B) | 2,077 | 124,890 | ||||||||||
Regal-Beloit Corp. (a) | 1,508 | 100,674 | ||||||||||
Thomas & Betts Corp. (b) | 1,982 | 95,731 | ||||||||||
Woodward Governor Co. (a) | 2,180 | 81,881 | ||||||||||
902,975 | ||||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 2.6% | ||||||||||||
Anixter International, Inc. (a) | 1,096 | 65,464 | ||||||||||
Arrow Electronics, Inc. (b) | 4,527 | 155,050 | ||||||||||
Avnet, Inc. (a)(b) | 5,780 | 190,913 | ||||||||||
AVX Corp. | 2,008 | 30,983 | ||||||||||
FLIR Systems, Inc. (a)(b) | 6,042 | 179,750 | ||||||||||
Ingram Micro, Inc. (Class A) (b) | 5,889 | 112,421 | ||||||||||
Itron, Inc. (b) | 1,503 | 83,341 | ||||||||||
Jabil Circuit, Inc. | 7,585 | 152,383 |
See accompanying notes to financial statements.
32
Table of Contents
SPDR Dow Jones Mid Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Mettler-Toledo International, Inc. (b) | 1,281 | $ | 193,700 | |||||||||
Molex, Inc. (a) | 4,931 | 112,032 | ||||||||||
National Instruments Corp. | 2,279 | 85,782 | ||||||||||
Trimble Navigation, Ltd. (a)(b) | 4,592 | 183,359 | ||||||||||
1,545,178 | ||||||||||||
ENERGY EQUIPMENT & SERVICES — 2.6% | ||||||||||||
Dresser-Rand Group, Inc. (a)(b) | 3,080 | 131,177 | ||||||||||
Dril-Quip, Inc. (b) | 1,157 | 89,922 | ||||||||||
Helmerich & Payne, Inc. (a) | 3,697 | 179,230 | ||||||||||
Oceaneering International, Inc. (b) | 2,035 | 149,837 | ||||||||||
Oil States International, Inc. (b) | 1,884 | 120,746 | ||||||||||
Patterson-UTI Energy, Inc. (a) | 5,911 | 127,382 | ||||||||||
Pride International, Inc. (a)(b) | 6,068 | 200,244 | ||||||||||
Rowan Cos., Inc. (a)(b) | 4,779 | 166,835 | ||||||||||
SEACOR Holdings, Inc. (a) | 798 | 80,670 | ||||||||||
Superior Energy Services, Inc. (b) | 2,991 | 104,655 | ||||||||||
Tidewater, Inc. (a) | 1,937 | 104,288 | ||||||||||
Unit Corp. (a)(b) | 1,772 | 82,363 | ||||||||||
1,537,349 | ||||||||||||
FOOD & STAPLES RETAILING — 0.3% | ||||||||||||
BJ’s Wholesale Club, Inc. (b) | 2,018 | 96,662 | ||||||||||
SUPERVALU, Inc. (a) | 7,967 | 76,722 | ||||||||||
173,384 | ||||||||||||
FOOD PRODUCTS — 1.5% | ||||||||||||
Corn Products International, Inc. | 2,856 | 131,376 | ||||||||||
Dean Foods Co. (a)(b) | 6,779 | 59,926 | ||||||||||
Del Monte Foods Co. | 7,490 | 140,812 | ||||||||||
Flowers Foods, Inc. (a) | 3,447 | 92,759 | ||||||||||
Green Mountain Coffee Roasters, Inc. (a)(b) | 4,433 | 145,668 | ||||||||||
Lancaster Colony Corp. (a) | 796 | 45,531 | ||||||||||
Ralcorp Holdings, Inc. (a)(b) | 2,058 | 133,791 | ||||||||||
Smithfield Foods, Inc. (a)(b) | 5,814 | 119,943 | ||||||||||
Tootsie Roll Industries, Inc. (a) | 926 | 26,826 | ||||||||||
896,632 | ||||||||||||
GAS UTILITIES — 1.5% | ||||||||||||
AGL Resources, Inc. | 2,932 | 105,112 | ||||||||||
Atmos Energy Corp. (a) | 3,388 | 105,705 | ||||||||||
Energen Corp. | 2,719 | 131,219 | ||||||||||
New Jersey Resources Corp. (a) | 1,563 | 67,381 | ||||||||||
Nicor, Inc. (a) | 1,688 | 84,265 | ||||||||||
Piedmont Natural Gas Co., Inc. (a) | 2,532 | 70,795 | ||||||||||
Questar Corp. (a) | 6,778 | 118,005 | ||||||||||
UGI Corp. | 4,116 | 129,983 | ||||||||||
WGL Holdings, Inc. (a) | 1,884 | 67,391 | ||||||||||
879,856 | ||||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 2.4% | ||||||||||||
Alere, Inc. (a)(b) | 3,160 | 115,656 | ||||||||||
Beckman Coulter, Inc. (a) | 2,606 | 196,049 | ||||||||||
Gen-Probe, Inc. (a)(b) | 1,829 | 106,722 | ||||||||||
Hill-Rom Holdings, Inc. (a) | 2,352 | 92,598 | ||||||||||
Hologic, Inc. (a)(b) | 9,876 | 185,866 | ||||||||||
IDEXX Laboratories, Inc. (a)(b) | 2,201 | 152,353 | ||||||||||
Kinetic Concepts, Inc. (a)(b) | 2,390 | 100,093 | ||||||||||
Masimo Corp. (a) | 1,994 | 57,966 | ||||||||||
ResMed, Inc. (a)(b) | 5,779 | 200,185 | ||||||||||
STERIS Corp. | 2,028 | 73,941 | ||||||||||
Teleflex, Inc. (a) | 1,491 | 80,231 | ||||||||||
Thoratec Corp. (a)(b) | 2,186 | 61,908 | ||||||||||
1,423,568 | ||||||||||||
HEALTH CARE PROVIDERS & SERVICES — 2.4% | ||||||||||||
AMERIGROUP Corp. (a)(b) | 1,971 | 86,566 | ||||||||||
Community Health Systems, Inc. (b) | 3,587 | 134,046 | ||||||||||
Coventry Health Care, Inc. (b) | 5,666 | 149,582 | ||||||||||
Health Net, Inc. (b) | 3,662 | 99,936 | ||||||||||
LifePoint Hospitals, Inc. (a)(b) | 2,059 | 75,668 | ||||||||||
Lincare Holdings, Inc. (a) | 3,719 | 99,781 | ||||||||||
MEDNAX, Inc. (b) | 1,767 | 118,902 | ||||||||||
Omnicare, Inc. (a) | 4,441 | 112,757 | ||||||||||
Owens & Minor, Inc. (a) | 2,347 | 69,072 | ||||||||||
Patterson Cos., Inc. (a) | 3,860 | 118,232 | ||||||||||
Tenet Healthcare Corp. (a)(b) | 18,037 | 120,668 | ||||||||||
Universal Health Services, Inc. (Class B) | 3,481 | 151,145 | ||||||||||
VCA Antech, Inc. (a)(b) | 3,267 | 76,088 | ||||||||||
1,412,443 | ||||||||||||
HEALTH CARE TECHNOLOGY — 0.2% | ||||||||||||
Allscripts-Misys Healthcare Solutions, Inc. (b) | 7,040 | 135,661 | ||||||||||
HOTELS, RESTAURANTS & LEISURE — 2.0% | ||||||||||||
Bally Technologies, Inc. (a)(b) | 2,045 | 86,279 | ||||||||||
Brinker International, Inc. (a) | 3,803 | 79,407 | ||||||||||
Chipotle Mexican Grill, Inc. (b) | 1,187 | 252,427 | ||||||||||
Choice Hotels International, Inc. (a) | 1,252 | 47,914 | ||||||||||
MGM MIRAGE, Inc. (a)(b) | 12,013 | 178,393 | ||||||||||
Panera Bread Co. (Class A) (a)(b) | 1,170 | 118,416 | ||||||||||
Penn National Gaming, Inc. (a)(b) | 2,497 | 87,770 | ||||||||||
Wendy’s/Arby’s Group, Inc. (Class A) (a) | 12,346 | 57,038 | ||||||||||
WMS Industries, Inc. (a)(b) | 2,206 | 99,799 | ||||||||||
Wyndham Worldwide Corp. | 6,818 | 204,267 | ||||||||||
1,211,710 | ||||||||||||
HOUSEHOLD DURABLES — 2.5% | ||||||||||||
D.R. Horton, Inc. (a) | 10,631 | 126,828 | ||||||||||
Harman International Industries, Inc. (b) | 2,606 | 120,658 | ||||||||||
Jarden Corp. (a) | 3,465 | 106,965 | ||||||||||
Leggett & Platt, Inc. (a) | 5,503 | 125,248 | ||||||||||
Lennar Corp. (Class A) | 5,957 | 111,694 | ||||||||||
Mohawk Industries, Inc. (a)(b) | 2,076 | 117,834 | ||||||||||
Newell Rubbermaid, Inc. | 11,052 | 200,925 | ||||||||||
NVR, Inc. (a)(b) | 220 | 152,024 | ||||||||||
Pulte Group, Inc. (a)(b) | 12,632 | 94,993 | ||||||||||
Tempur-Pedic International, Inc. (a)(b) | 2,467 | 98,828 | ||||||||||
Toll Brothers, Inc. (a)(b) | 5,090 | 96,710 | ||||||||||
Tupperware Brands Corp. (a) | 2,354 | 112,215 | ||||||||||
1,464,922 | ||||||||||||
HOUSEHOLD PRODUCTS — 0.3% | ||||||||||||
Energizer Holdings, Inc. (b) | 2,651 | 193,258 | ||||||||||
See accompanying notes to financial statements.
33
Table of Contents
SPDR Dow Jones Mid Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
INDUSTRIAL CONGLOMERATES — 0.9% | ||||||||||||
Carlisle Cos., Inc. | 2,294 | $ | 91,164 | |||||||||
McDermott International, Inc. (b) | 8,875 | 183,624 | ||||||||||
Seaboard Corp. (a) | 15 | 29,865 | ||||||||||
Textron, Inc. (a) | 10,310 | 243,728 | ||||||||||
548,381 | ||||||||||||
INSURANCE — 5.9% | ||||||||||||
Alleghany Corp. (b) | 271 | 83,026 | ||||||||||
Allied World Assurance Company Holdings, Ltd. | 1,711 | 101,702 | ||||||||||
American Financial Group, Inc. | 2,950 | 95,255 | ||||||||||
American International Group, Inc. (a)(b) | 4,512 | 259,981 | ||||||||||
American National Insurance Co. | 552 | 47,262 | ||||||||||
Arch Capital Group, Ltd. (b) | 1,898 | 167,119 | ||||||||||
Arthur J. Gallagher & Co. (a) | 4,032 | 117,251 | ||||||||||
Aspen Insurance Holdings, Ltd. (a) | 2,730 | 78,133 | ||||||||||
Assurant, Inc. | 4,070 | 156,776 | ||||||||||
Assured Guaranty, Ltd. (a) | 6,334 | 112,112 | ||||||||||
Axis Capital Holdings, Ltd. (a) | 4,586 | 164,546 | ||||||||||
Brown & Brown, Inc. (a) | 4,322 | 103,469 | ||||||||||
Endurance Specialty Holdings, Ltd. (a) | 1,747 | 80,484 | ||||||||||
Erie Indemnity Co. (Class A) (a) | 1,076 | 70,446 | ||||||||||
Fidelity National Financial, Inc. (Class A) (a) | 8,821 | 120,671 | ||||||||||
First American Financial Corp. (a) | 3,738 | 55,846 | ||||||||||
HCC Insurance Holdings, Inc. | 4,422 | 127,973 | ||||||||||
Markel Corp. (a)(b) | 369 | 139,530 | ||||||||||
Mercury General Corp. | 1,025 | 44,085 | ||||||||||
Old Republic International Corp. (a) | 9,241 | 125,955 | ||||||||||
OneBeacon Insurance Group, Ltd. (Class A) | 924 | 14,008 | ||||||||||
Platinum Underwriters Holdings, Ltd. (a) | 1,509 | 67,860 | ||||||||||
ProAssurance Corp. (b) | 1,195 | 72,417 | ||||||||||
Reinsurance Group of America, Inc. (a) | 2,784 | 149,529 | ||||||||||
RenaissanceRe Holdings, Ltd. | 2,062 | 131,329 | ||||||||||
StanCorp Financial Group, Inc. (a) | 1,780 | 80,349 | ||||||||||
The Hanover Insurance Group, Inc. (a) | 1,686 | 78,770 | ||||||||||
Torchmark Corp. (a) | 3,088 | 184,477 | ||||||||||
Transatlantic Holdings, Inc. | 2,417 | 124,765 | ||||||||||
Validus Holdings, Ltd. (a) | 3,053 | 93,452 | ||||||||||
W.R. Berkley Corp. | 4,962 | 135,859 | ||||||||||
Wesco Financial Corp. | 53 | 19,526 | ||||||||||
White Mountains Insurance Group, Ltd. | 261 | 87,592 | ||||||||||
3,491,555 | ||||||||||||
INTERNET SOFTWARE & SERVICES — 1.0% | ||||||||||||
AOL, Inc. (b) | 3,989 | 94,579 | ||||||||||
Equinix, Inc. (a)(b) | 1,729 | 140,498 | ||||||||||
IAC/InterActive Corp. (a)(b) | 3,182 | 91,323 | ||||||||||
Rackspace Hosting, Inc. (a)(b) | 3,894 | 122,311 | ||||||||||
WebMD Health Corp. (a)(b) | 2,213 | 112,996 | ||||||||||
561,707 | ||||||||||||
IT SERVICES — 1.6% | ||||||||||||
Alliance Data Systems Corp. (a)(b) | 1,979 | 140,568 | ||||||||||
Booz Allen Hamilton Holding Corp. (b) | 600 | 11,658 | ||||||||||
Broadridge Financial Solutions, Inc. | 4,428 | 97,106 | ||||||||||
CoreLogic, Inc. | 4,197 | 77,728 | ||||||||||
DST Systems, Inc. | 1,400 | 62,090 | ||||||||||
Gartner, Inc. (a)(b) | 2,808 | 93,226 | ||||||||||
Genpact, Ltd. (b) | 3,946 | 59,979 | ||||||||||
Global Payments, Inc. (a) | 2,995 | 138,399 | ||||||||||
Lender Processing Services, Inc. (a) | 3,498 | 103,261 | ||||||||||
NeuStar, Inc. (Class A) (b) | 2,790 | 72,680 | ||||||||||
Total System Services, Inc. (a) | 7,397 | 113,766 | ||||||||||
970,461 | ||||||||||||
LIFE SCIENCES TOOLS & SERVICES — 1.1% | ||||||||||||
Bio-Rad Laboratories, Inc. (Class A) (b) | 731 | 75,914 | ||||||||||
Bruker Corp. (a)(b) | 2,746 | 45,584 | ||||||||||
Charles River Laboratories International, Inc. (a)(b) | 2,484 | 88,281 | ||||||||||
Covance, Inc. (a)(b) | 2,432 | 125,029 | ||||||||||
PerkinElmer, Inc. | 4,382 | 113,143 | ||||||||||
Pharmaceutical Product Development, Inc. | 4,140 | 112,360 | ||||||||||
Techne Corp. (a) | 1,409 | 92,529 | ||||||||||
652,840 | ||||||||||||
MACHINERY — 4.4% | ||||||||||||
AGCO Corp. (a)(b) | 3,542 | 179,438 | ||||||||||
CLARCOR, Inc. (a) | 1,917 | 82,220 | ||||||||||
Crane Co. | 1,906 | 78,279 | ||||||||||
Donaldson Co., Inc. | 2,680 | 156,190 | ||||||||||
Gardner Denver, Inc. | 1,944 | 133,786 | ||||||||||
Graco, Inc. (a) | 2,257 | 89,039 | ||||||||||
Harsco Corp. (a) | 3,018 | 85,470 | ||||||||||
IDEX Corp. (a) | 3,132 | 122,524 | ||||||||||
Kennametal, Inc. (a) | 3,115 | 122,918 | ||||||||||
Lincoln Electric Holdings, Inc. (a) | 1,611 | 105,150 | ||||||||||
Navistar International Corp. (a)(b) | 1,991 | 115,299 | ||||||||||
Nordson Corp. (a) | 1,146 | 105,295 | ||||||||||
Oshkosh Corp. (a)(b) | 3,364 | 118,547 | ||||||||||
Pall Corp. | 4,364 | 216,367 | ||||||||||
Pentair, Inc. (a) | 3,794 | 138,519 | ||||||||||
Snap-On, Inc. | 2,159 | 122,156 | ||||||||||
SPX Corp. | 1,885 | 134,759 | ||||||||||
Terex Corp. (a)(b) | 4,060 | 126,022 | ||||||||||
The Timken Co. | 2,903 | 138,560 | ||||||||||
WABCO Holdings, Inc. (b) | 2,405 | 146,537 | ||||||||||
Wabtec Corp. | 1,807 | 95,572 | ||||||||||
2,612,647 | ||||||||||||
MARINE — 0.2% | ||||||||||||
Kirby Corp. (a)(b) | 2,019 | 88,937 | ||||||||||
MEDIA — 2.3% | ||||||||||||
Charter Communications, Inc. (Class A) (a)(b) | 1,475 | 57,436 | ||||||||||
Clear Channel Outdoor Holdings, Inc. (Class A) (a)(b) | 1,575 | 22,113 |
See accompanying notes to financial statements.
34
Table of Contents
SPDR Dow Jones Mid Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
DreamWorks Animation SKG, Inc. (Class A) (a)(b) | 2,329 | $ | 68,636 | |||||||||
Gannett Co., Inc. (a) | 8,878 | 133,969 | ||||||||||
John Wiley & Sons, Inc. (Class A) | 1,928 | 87,223 | ||||||||||
Lamar Advertising Co. (Class A) (a)(b) | 2,166 | 86,293 | ||||||||||
Liberty Media — Starz (Series A) (b) | 1,962 | 130,434 | ||||||||||
Liberty Media Corp. — Capital (Class A) (a)(b) | 2,860 | 178,922 | ||||||||||
Morningstar, Inc. (a) | 856 | 45,436 | ||||||||||
Regal Entertainment Group (a) | 3,036 | 35,643 | ||||||||||
Sirius XM Radio, Inc. (a)(b) | 147,302 | 241,575 | ||||||||||
The Interpublic Group of Cos., Inc. (a)(b) | 18,559 | 197,097 | ||||||||||
The Washington Post Co. (Class B) (a) | 213 | 93,613 | ||||||||||
1,378,390 | ||||||||||||
METALS & MINING — 2.0% | ||||||||||||
AK Steel Holding Corp. (a) | 4,107 | 67,232 | ||||||||||
Allegheny Technologies, Inc. (a) | 3,549 | 195,834 | ||||||||||
Commercial Metals Co. (a) | 4,222 | 70,043 | ||||||||||
Compass Minerals International, Inc. (a) | 1,230 | 109,802 | ||||||||||
Reliance Steel & Aluminum Co. | 2,788 | 142,467 | ||||||||||
Royal Gold, Inc. | 1,984 | 108,386 | ||||||||||
Steel Dynamics, Inc. (a) | 8,140 | 148,962 | ||||||||||
Titanium Metals Corp. (a)(b) | 3,283 | 56,402 | ||||||||||
Walter Energy, Inc. (a) | 2,022 | 258,492 | ||||||||||
1,157,620 | ||||||||||||
MULTI-UTILITIES — 4.1% | ||||||||||||
Allegheny Energy, Inc. | 6,473 | 156,905 | ||||||||||
Alliant Energy Corp. | 4,216 | 155,022 | ||||||||||
American Water Works Co., Inc. | 6,672 | 168,735 | ||||||||||
Aqua America, Inc. (a) | 5,147 | 115,705 | ||||||||||
CMS Energy Corp. (a) | 8,774 | 163,196 | ||||||||||
Integrys Energy Group, Inc. (a) | 2,921 | 141,698 | ||||||||||
MDU Resources Group, Inc. | 6,627 | 134,329 | ||||||||||
National Fuel Gas Co. (a) | 2,643 | 173,434 | ||||||||||
NiSource, Inc. (a) | 10,568 | 186,208 | ||||||||||
NSTAR (a) | 3,959 | 167,030 | ||||||||||
NV Energy, Inc. (a) | 8,983 | 126,211 | ||||||||||
OGE Energy Corp. | 3,714 | 169,136 | ||||||||||
Pepco Holdings, Inc. (a) | 8,513 | 155,362 | ||||||||||
Pinnacle West Capital Corp. | 4,142 | 171,686 | ||||||||||
TECO Energy, Inc. (a) | 7,660 | 136,348 | ||||||||||
Vectren Corp. | 3,044 | 77,257 | ||||||||||
2,398,262 | ||||||||||||
MULTILINE RETAIL — 0.1% | ||||||||||||
Big Lots, Inc. (a)(b) | 2,847 | 86,720 | ||||||||||
OFFICE ELECTRONICS — 0.1% | ||||||||||||
Zebra Technologies Corp. (Class A) (a)(b) | 2,169 | 82,400 | ||||||||||
OIL, GAS & CONSUMABLE FUELS — 4.3% | ||||||||||||
Arch Coal, Inc. (a) | 6,207 | 217,617 | ||||||||||
Atlas Energy, Inc. (b) | 2,936 | 129,096 | ||||||||||
Cabot Oil & Gas Corp. (a) | 4,005 | 151,589 | ||||||||||
Cobalt International Energy, Inc. (a)(b) | 3,802 | 46,422 | ||||||||||
Concho Resources, Inc. (a)(b) | 3,593 | 314,998 | ||||||||||
EXCO Resources, Inc. (a) | 6,522 | 126,657 | ||||||||||
Forest Oil Corp. (a)(b) | 4,319 | 163,993 | ||||||||||
Massey Energy Co. | 3,870 | 207,626 | ||||||||||
Plains Exploration & Production Co. (a)(b) | 5,327 | 171,210 | ||||||||||
Quicksilver Resources, Inc. (a)(b) | 4,491 | 66,197 | ||||||||||
SandRidge Energy, Inc. (a)(b) | 14,383 | 105,284 | ||||||||||
SM Energy Co. (a) | 2,401 | 141,491 | ||||||||||
Southern Union Co. (a) | 4,369 | 105,162 | ||||||||||
Sunoco, Inc. | 4,606 | 185,668 | ||||||||||
Teekay Corp. (a) | 1,588 | 52,531 | ||||||||||
Tesoro Corp. (a)(b) | 5,379 | 99,727 | ||||||||||
Whiting Petroleum Corp. (b) | 2,233 | 261,685 | ||||||||||
2,546,953 | ||||||||||||
PAPER & FOREST PRODUCTS — 0.5% | ||||||||||||
Domtar Corp. | 1,576 | 119,650 | ||||||||||
MeadWestvaco Corp. (a) | 6,527 | 170,746 | ||||||||||
290,396 | ||||||||||||
PERSONAL PRODUCTS — 0.5% | ||||||||||||
Alberto-Culver Co. | 3,393 | 125,677 | ||||||||||
Herbalife, Ltd. (a) | 2,207 | 150,892 | ||||||||||
276,569 | ||||||||||||
PHARMACEUTICALS — 1.0% | ||||||||||||
Endo Pharmaceuticals Holdings, Inc. (a)(b) | 3,976 | 141,983 | ||||||||||
King Pharmaceuticals, Inc. (b) | 9,475 | 133,124 | ||||||||||
Perrigo Co. (a) | 3,248 | 205,696 | ||||||||||
Salix Pharmaceuticals, Ltd. (a)(b) | 1,925 | 90,398 | ||||||||||
571,201 | ||||||||||||
PROFESSIONAL SERVICES — 1.7% | ||||||||||||
Equifax, Inc. | 4,829 | 171,913 | ||||||||||
FTI Consulting, Inc. (a)(b) | 1,766 | 65,837 | ||||||||||
IHS, Inc. (Class A) (a)(b) | 1,782 | 143,255 | ||||||||||
Manpower, Inc. (a) | 3,129 | 196,376 | ||||||||||
Robert Half International, Inc. (a) | 5,642 | 172,645 | ||||||||||
The Dun & Bradstreet Corp. | 1,926 | 158,105 | ||||||||||
Towers Watson & Co. (Class A) (a) | 1,955 | 101,777 | ||||||||||
1,009,908 | ||||||||||||
REAL ESTATE INVESTMENT TRUSTS — 7.0% | ||||||||||||
Alexandria Real Estate Equities, Inc. (a) | 2,080 | 152,381 | ||||||||||
AMB Property Corp. (a) | 6,424 | 203,705 | ||||||||||
Apartment Investment & Management Co. (Class A) (a) | 4,391 | 113,463 | ||||||||||
BRE Properties, Inc. | 2,397 | 104,270 | ||||||||||
Camden Property Trust | 2,617 | 141,266 | ||||||||||
Chimera Investment Corp. (a) | 38,165 | 156,858 | ||||||||||
Corporate Office Properties Trust (a) | 2,547 | 89,018 | ||||||||||
Developers Diversified Realty Corp. (a) | 7,101 | 100,053 | ||||||||||
Digital Realty Trust, Inc. (a) | 3,421 | 176,318 | ||||||||||
Douglas Emmett, Inc. (a) | 4,564 | 75,762 |
See accompanying notes to financial statements.
35
Table of Contents
SPDR Dow Jones Mid Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Duke Realty Corp. | 9,276 | $ | 115,579 | |||||||||
Essex Property Trust, Inc. (a) | 1,153 | 131,696 | ||||||||||
Federal Realty Investment Trust (a) | 2,326 | 181,265 | ||||||||||
Highwoods Properties, Inc. (a) | 2,731 | 86,982 | ||||||||||
Hospitality Properties Trust | 4,637 | 106,837 | ||||||||||
Liberty Property Trust (a) | 4,332 | 138,277 | ||||||||||
Mack-Cali Realty Corp. (a) | 2,989 | 98,816 | ||||||||||
MFA Financial, Inc. (a) | 10,537 | 85,982 | ||||||||||
National Retail Properties, Inc. (a) | 3,172 | 84,058 | ||||||||||
Nationwide Health Properties, Inc. | 5,126 | 186,484 | ||||||||||
OMEGA Healthcare Investors, Inc. (a) | 3,695 | 82,916 | ||||||||||
Piedmont Office Realty Trust, Inc. (Class A) (a) | 5,051 | 101,727 | ||||||||||
Rayonier, Inc. | 3,037 | 159,503 | ||||||||||
Realty Income Corp. | 4,419 | 151,130 | ||||||||||
Regency Centers Corp. (a) | 3,174 | 134,070 | ||||||||||
Senior Housing Properties Trust (a) | 4,772 | 104,698 | ||||||||||
SL Green Realty Corp. (a) | 2,976 | 200,910 | ||||||||||
Taubman Centers, Inc. (a) | 2,051 | 103,534 | ||||||||||
The Macerich Co. (a) | 4,950 | 234,482 | ||||||||||
UDR, Inc. (a) | 6,895 | 162,170 | ||||||||||
Washington Real Estate Investment Trust (a) | 2,403 | 74,469 | ||||||||||
Weingarten Realty Investors (a) | 4,496 | 106,825 | ||||||||||
4,145,504 | ||||||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 0.7% | ||||||||||||
CB Richard Ellis Group, Inc. (Class A) (a)(b) | 11,220 | 229,786 | ||||||||||
Jones Lang LaSalle, Inc. | 1,582 | 132,761 | ||||||||||
The St. Joe Co. (a)(b) | 3,446 | 75,295 | ||||||||||
437,842 | ||||||||||||
ROAD & RAIL — 1.2% | ||||||||||||
Hertz Global Holdings, Inc. (a)(b) | 6,918 | 100,242 | ||||||||||
J.B. Hunt Transport Services, Inc. | 3,573 | 145,814 | ||||||||||
Kansas City Southern (a)(b) | 3,890 | 186,175 | ||||||||||
Knight Transportation, Inc. (a) | 2,183 | 41,477 | ||||||||||
Landstar Systems, Inc. (a) | 1,888 | 77,295 | ||||||||||
Ryder Systems, Inc. (a) | 1,969 | 103,648 | ||||||||||
Werner Enterprises, Inc. (a) | 1,986 | 44,884 | ||||||||||
699,535 | ||||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 3.0% | ||||||||||||
Advanced Micro Devices, Inc. (a)(b) | 21,448 | 175,445 | ||||||||||
Atmel Corp. (b) | 17,619 | 217,066 | ||||||||||
Lam Research Corp. (b) | 4,624 | 239,431 | ||||||||||
LSI Corp. (b) | 23,423 | 140,304 | ||||||||||
MEMC Electronic Materials, Inc. (a)(b) | 8,545 | 96,217 | ||||||||||
National Semiconductor Corp. (a) | 9,083 | 124,982 | ||||||||||
Novellus Systems, Inc. (b) | 3,455 | 111,666 | ||||||||||
ON Semiconductor Corp. (b) | 16,380 | 161,834 | ||||||||||
PMC-Sierra, Inc. (a)(b) | 8,550 | 73,444 | ||||||||||
Rambus, Inc. (b) | 4,210 | 86,221 | ||||||||||
Silicon Laboratories, Inc. (a)(b) | 1,677 | 77,175 | ||||||||||
Skyworks Solutions, Inc. (a)(b) | 6,752 | 193,310 | ||||||||||
Varian Semiconductor Equipment Associates, Inc. (a)(b) | 2,794 | 103,294 | ||||||||||
1,800,389 | ||||||||||||
SOFTWARE — 3.5% | ||||||||||||
Ansys, Inc. (b) | 3,455 | 179,902 | ||||||||||
Cadence Design Systems, Inc. (a)(b) | 10,130 | 83,674 | ||||||||||
Compuware Corp. (a)(b) | 8,547 | 99,744 | ||||||||||
Concur Technologies, Inc. (a)(b) | 1,693 | 87,917 | ||||||||||
Factset Research Systems, Inc. (a) | 1,605 | 150,485 | ||||||||||
Informatica Corp. (a)(b) | 3,514 | 154,721 | ||||||||||
Jack Henry & Associates, Inc. (a) | 3,149 | 91,793 | ||||||||||
MICROS Systems, Inc. (b) | 2,994 | 131,317 | ||||||||||
Novell, Inc. (b) | 13,004 | 76,984 | ||||||||||
Nuance Communications, Inc. (a)(b) | 9,169 | 166,692 | ||||||||||
Parametric Technology Corp. (b) | 4,360 | 98,231 | ||||||||||
Quality Systems, Inc. (a) | 699 | 48,804 | ||||||||||
Quest Software, Inc. (a)(b) | 2,339 | 64,884 | ||||||||||
Rovi Corp. (a)(b) | 3,937 | 244,133 | ||||||||||
Solera Holdings, Inc. (a) | 2,603 | 133,586 | ||||||||||
Synopsys, Inc. (b) | 5,722 | 153,979 | ||||||||||
TIBCO Software, Inc. (b) | 6,360 | 125,356 | ||||||||||
2,092,202 | ||||||||||||
SPECIALTY RETAIL — 4.4% | ||||||||||||
Aaron’s, Inc. (a) | 2,808 | 57,255 | ||||||||||
Abercrombie & Fitch Co. (Class A) (a) | 3,316 | 191,101 | ||||||||||
Aeropostale, Inc. (a)(b) | 3,541 | 87,250 | ||||||||||
American Eagle Outfitters, Inc. (a) | 7,420 | 108,555 | ||||||||||
AutoNation, Inc. (a)(b) | 1,697 | 47,855 | ||||||||||
CarMax, Inc. (a)(b) | 8,498 | 270,916 | ||||||||||
Chico’s FAS, Inc. (a) | 6,778 | 81,539 | ||||||||||
Dick’s Sporting Goods, Inc. (a)(b) | 3,280 | 123,000 | ||||||||||
Foot Locker, Inc. (a) | 5,833 | 114,443 | ||||||||||
GameStop Corp. (Class A) (a)(b) | 5,843 | 133,688 | ||||||||||
Guess ?, Inc. | 2,452 | 116,029 | ||||||||||
J. Crew Group, Inc. (b) | 2,279 | 98,316 | ||||||||||
PetSmart, Inc. | 4,519 | 179,947 | ||||||||||
RadioShack Corp. (a) | 4,701 | 86,922 | ||||||||||
Signet Jewelers, Ltd. (b) | 3,204 | 139,054 | ||||||||||
Tiffany & Co. (a) | 4,821 | 300,204 | ||||||||||
Tractor Supply Co. (a) | 2,725 | 132,135 | ||||||||||
Urban Outfitters, Inc. (a)(b) | 4,994 | 178,835 | ||||||||||
Williams-Sonoma, Inc. (a) | 3,723 | 132,874 | ||||||||||
2,579,918 | ||||||||||||
TEXTILES, APPAREL & LUXURY GOODS — 0.6% | ||||||||||||
Fossil, Inc. (b) | 1,773 | 124,961 | ||||||||||
Hanesbrands, Inc. (b) | 3,523 | 89,484 | ||||||||||
Phillips-Van Heusen Corp. (a) | 2,334 | 147,066 | ||||||||||
361,511 | ||||||||||||
THRIFTS & MORTGAGE FINANCE — 0.5% | ||||||||||||
Capitol Federal Financial, Inc. | 6,328 | 75,367 | ||||||||||
First Niagara Financial Group, Inc. (a) | 7,835 | 109,533 | ||||||||||
TFS Financial Corp. (a) | 3,588 | 32,364 |
See accompanying notes to financial statements.
36
Table of Contents
SPDR Dow Jones Mid Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Washington Federal, Inc. (a) | 4,220 | $ | 71,402 | |||||||||
288,666 | ||||||||||||
TRADING COMPANIES & DISTRIBUTORS — 0.2% | ||||||||||||
MSC Industrial Direct Co., Inc. (Class A) (a) | 1,654 | 106,997 | ||||||||||
WIRELESS TELECOMMUNICATION SERVICES — 0.8% | ||||||||||||
MetroPCS Communications, Inc. (a)(b) | 9,396 | 118,672 | ||||||||||
SBA Communications Corp. (Class A) (a)(b) | 4,377 | 179,194 | ||||||||||
Telephone & Data Systems, Inc. (a) | 3,565 | 130,301 | ||||||||||
US Cellular Corp. (b) | 610 | 30,463 | ||||||||||
458,630 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $50,655,569) | 59,000,593 | |||||||||||
SHORT TERM INVESTMENTS — 27.9% | ||||||||||||
MONEY MARKET FUNDS — 27.9% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 16,390,393 | 16,390,393 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (e)(f) | 134,458 | 134,458 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $16,524,851) | 16,524,851 | |||||||||||
TOTAL INVESTMENTS — 127.7% (g) | ||||||||||||
(Cost $67,180,420) | 75,525,444 | |||||||||||
OTHER ASSETS & LIABILITIES — (27.7)% | (16,400,238 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 59,125,206 | ||||||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Non-income producing security. | |||||
(c) | Amount shown represents less than 0.05% of net assets. | |||||
(d) | Investments of cash collateral for securities loaned. | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
37
Table of Contents
SPDR S&P 400 Mid Cap Growth ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.8% | ||||||||||||
AEROSPACE & DEFENSE — 0.7% | ||||||||||||
BE Aerospace, Inc. (a) | 13,094 | $ | 484,871 | |||||||||
AIRLINES — 0.2% | ||||||||||||
Alaska Air Group, Inc. (a) | 2,800 | 158,732 | ||||||||||
AUTO COMPONENTS — 1.6% | ||||||||||||
BorgWarner, Inc. (a)(b) | 8,650 | 625,914 | ||||||||||
Gentex Corp. | 18,000 | 532,080 | ||||||||||
1,157,994 | ||||||||||||
BEVERAGES — 0.7% | ||||||||||||
Hansen Natural Corp. (a) | 8,852 | 462,783 | ||||||||||
BIOTECHNOLOGY — 1.2% | ||||||||||||
United Therapeutics Corp. (a)(b) | 6,499 | 410,867 | ||||||||||
Vertex Pharmaceuticals, Inc. (a) | 12,387 | 433,916 | ||||||||||
844,783 | ||||||||||||
BUILDING PRODUCTS — 0.2% | ||||||||||||
Lennox International, Inc. | 2,300 | 108,767 | ||||||||||
CAPITAL MARKETS — 2.2% | ||||||||||||
Affiliated Managers Group, Inc. (a) | 3,798 | 376,837 | ||||||||||
Eaton Vance Corp. | 9,295 | 280,988 | ||||||||||
Greenhill & Co., Inc. | 1,570 | 128,238 | ||||||||||
Jefferies Group, Inc. | 5,651 | 150,486 | ||||||||||
SEI Investments Co. | 9,158 | 217,869 | ||||||||||
Waddell & Reed Financial, Inc. (Class A) | 11,084 | 391,154 | ||||||||||
1,545,572 | ||||||||||||
CHEMICALS — 2.9% | ||||||||||||
Albemarle Corp. | 11,844 | 660,658 | ||||||||||
Intrepid Potash, Inc. (a) | 5,658 | 210,987 | ||||||||||
Lubrizol Corp. | 8,476 | 905,915 | ||||||||||
NewMarket Corp. | 1,300 | 160,381 | ||||||||||
The Scotts Miracle-Gro Co. (Class A) | 3,000 | 152,310 | ||||||||||
2,090,251 | ||||||||||||
COMMERCIAL BANKS — 0.4% | ||||||||||||
Bank of Hawaii Corp. | 2,200 | 103,862 | ||||||||||
SVB Financial Group (a)(b) | 1,900 | 100,795 | ||||||||||
Westamerica Bancorporation | 1,600 | 88,752 | ||||||||||
293,409 | ||||||||||||
COMMERCIAL SERVICES & SUPPLIES — 1.7% | ||||||||||||
Clean Harbors, Inc. (a) | 1,311 | 110,229 | ||||||||||
Copart, Inc. (a) | 8,928 | 333,461 | ||||||||||
Corrections Corp. of America (a) | 8,060 | 201,984 | ||||||||||
Deluxe Corp. | 2,600 | 59,852 | ||||||||||
Herman Miller, Inc. (b) | 2,600 | 65,780 | ||||||||||
Rollins, Inc. | 8,095 | 159,876 | ||||||||||
Waste Connections, Inc. (b) | 8,661 | 238,437 | ||||||||||
1,169,619 | ||||||||||||
COMMUNICATIONS EQUIPMENT — 2.9% | ||||||||||||
ADTRAN, Inc. | 8,100 | 293,301 | ||||||||||
Ciena Corp. (a)(b) | 5,900 | 124,195 | ||||||||||
CommScope, Inc. (a) | 12,159 | 379,604 | ||||||||||
Plantronics, Inc. | 3,900 | 145,158 | ||||||||||
Polycom, Inc. (a) | 11,076 | 431,743 | ||||||||||
Riverbed Technology, Inc. (a) | 18,867 | 663,552 | ||||||||||
2,037,553 | ||||||||||||
CONSTRUCTION MATERIALS — 0.3% | ||||||||||||
Martin Marietta Materials, Inc. (b) | 2,027 | 186,970 | ||||||||||
CONTAINERS & PACKAGING — 0.9% | ||||||||||||
AptarGroup, Inc. | 4,525 | 215,254 | ||||||||||
Packaging Corp. of America | 6,600 | 170,544 | ||||||||||
Rock-Tenn Co. (Class A) | 2,700 | 145,665 | ||||||||||
Silgan Holdings, Inc. | 3,100 | 111,011 | ||||||||||
642,474 | ||||||||||||
DISTRIBUTORS — 0.6% | ||||||||||||
LKQ Corp. (a) | 18,490 | 420,093 | ||||||||||
DIVERSIFIED CONSUMER SERVICES — 1.4% | ||||||||||||
ITT Educational Services, Inc. (a) | 3,400 | 216,546 | ||||||||||
Service Corp. International | 16,300 | 134,475 | ||||||||||
Sotheby’s | 8,600 | 387,000 | ||||||||||
Strayer Education, Inc. (b) | 1,729 | 263,188 | ||||||||||
1,001,209 | ||||||||||||
DIVERSIFIED FINANCIAL SERVICES — 0.8% | ||||||||||||
MSCI, Inc. (Class A) (a) | 15,369 | 598,776 | ||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 0.5% | ||||||||||||
tw telecom, inc. (a) | 19,366 | 330,190 | ||||||||||
ELECTRIC UTILITIES — 0.3% | ||||||||||||
DPL, Inc. | 7,300 | 187,683 | ||||||||||
ELECTRICAL EQUIPMENT — 2.6% | ||||||||||||
Acuity Brands, Inc. (b) | 2,109 | 121,626 | ||||||||||
AMETEK, Inc. | 12,954 | 508,444 | ||||||||||
Baldor Electric Co. | 6,000 | 378,240 | ||||||||||
Hubbell, Inc. (Class B) | 4,100 | 246,533 | ||||||||||
Regal-Beloit Corp. | 2,021 | 134,922 | ||||||||||
Thomas & Betts Corp. (a) | 4,200 | 202,860 | ||||||||||
Woodward Governor Co. | 7,573 | 284,442 | ||||||||||
1,877,067 | ||||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 2.2% | ||||||||||||
Itron, Inc. (a) | 3,655 | 202,670 | ||||||||||
Mettler-Toledo International, Inc. (a) | 4,214 | 637,199 | ||||||||||
National Instruments Corp. | 3,932 | 148,000 | ||||||||||
Trimble Navigation, Ltd. (a) | 9,749 | 389,278 | ||||||||||
Vishay Intertechnology, Inc. (a) | 12,200 | 179,096 | ||||||||||
1,556,243 | ||||||||||||
ENERGY EQUIPMENT & SERVICES — 2.1% | ||||||||||||
Atwood Oceanics, Inc. (a) | 7,200 | 269,064 | ||||||||||
Dril-Quip, Inc. (a) | 4,456 | 346,320 | ||||||||||
Oceaneering International, Inc. (a) | 6,953 | 511,949 | ||||||||||
Superior Energy Services, Inc. (a) | 10,136 | 354,659 | ||||||||||
1,481,992 | ||||||||||||
FOOD PRODUCTS — 1.4% | ||||||||||||
Corn Products International, Inc. | 5,300 | 243,800 | ||||||||||
Flowers Foods, Inc. | 5,182 | 139,447 | ||||||||||
Green Mountain Coffee Roasters, Inc. (a) | 15,023 | 493,656 | ||||||||||
Lancaster Colony Corp. (b) | 1,400 | 80,080 |
See accompanying notes to financial statements.
38
Table of Contents
SPDR S&P 400 Mid Cap Growth ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Tootsie Roll Industries, Inc. | 1,300 | $ | 37,661 | |||||||||
994,644 | ||||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 6.1% | ||||||||||||
Beckman Coulter, Inc. | 3,789 | 285,047 | ||||||||||
Edwards Lifesciences Corp. (a) | 14,732 | 1,190,935 | ||||||||||
Gen-Probe, Inc. (a)(b) | 6,201 | 361,828 | ||||||||||
Hill-Rom Holdings, Inc. | 3,252 | 128,031 | ||||||||||
Hologic, Inc. (a) | 11,353 | 213,663 | ||||||||||
IDEXX Laboratories, Inc. (a) | 7,447 | 515,481 | ||||||||||
Immucor, Inc. (a) | 5,400 | 107,082 | ||||||||||
Kinetic Concepts, Inc. (a) | 8,026 | 336,129 | ||||||||||
Masimo Corp. | 4,666 | 135,641 | ||||||||||
ResMed, Inc. (a) | 19,551 | 677,247 | ||||||||||
STERIS Corp. | 3,800 | 138,548 | ||||||||||
Thoratec Corp. (a) | 7,493 | 212,202 | ||||||||||
4,301,834 | ||||||||||||
HEALTH CARE PROVIDERS & SERVICES — 3.1% | ||||||||||||
Health Management Associates, Inc. (Class A) (a) | 32,100 | 306,234 | ||||||||||
Henry Schein, Inc. (a) | 6,400 | 392,896 | ||||||||||
Lincare Holdings, Inc. | 12,561 | 337,012 | ||||||||||
MEDNAX, Inc. (a) | 6,160 | 414,506 | ||||||||||
Universal Health Services, Inc. (Class B) | 12,465 | 541,230 | ||||||||||
VCA Antech, Inc. (a) | 5,536 | 128,934 | ||||||||||
WellCare Health Plans, Inc. (a) | 2,800 | 84,616 | ||||||||||
2,205,428 | ||||||||||||
HEALTH CARE TECHNOLOGY — 0.7% | ||||||||||||
Allscripts-Misys Healthcare Solutions, Inc. (a) | 23,955 | 461,613 | ||||||||||
HOTELS, RESTAURANTS & LEISURE — 3.5% | ||||||||||||
Bally Technologies, Inc. (a) | 6,847 | 288,875 | ||||||||||
Brinker International, Inc. | 5,800 | 121,104 | ||||||||||
Chipotle Mexican Grill, Inc. (a) | 3,997 | 850,002 | ||||||||||
Life Time Fitness, Inc. (a) | 5,400 | 221,346 | ||||||||||
Panera Bread Co. (Class A) (a) | 3,938 | 398,565 | ||||||||||
The Cheesecake Factory, Inc. (a) | 7,600 | 233,016 | ||||||||||
WMS Industries, Inc. (a) | 7,391 | 334,369 | ||||||||||
2,447,277 | ||||||||||||
HOUSEHOLD DURABLES — 0.5% | ||||||||||||
Tupperware Brands Corp. | 8,100 | 386,127 | ||||||||||
HOUSEHOLD PRODUCTS — 0.8% | ||||||||||||
Church & Dwight Co., Inc. | 4,600 | 317,492 | ||||||||||
Energizer Holdings, Inc. (a) | 3,879 | 282,779 | ||||||||||
600,271 | ||||||||||||
INSURANCE — 0.5% | ||||||||||||
Arthur J. Gallagher & Co. | 5,800 | 168,664 | ||||||||||
Brown & Brown, Inc. | 6,887 | 164,875 | ||||||||||
333,539 | ||||||||||||
INTERNET SOFTWARE & SERVICES — 1.6% | ||||||||||||
Digital River, Inc. (a) | 5,100 | 175,542 | ||||||||||
Equinix, Inc. (a) | 5,922 | 481,221 | ||||||||||
Rackspace Hosting, Inc. (a)(b) | 12,441 | 390,772 | ||||||||||
ValueClick, Inc. (a) | 6,700 | 107,401 | ||||||||||
1,154,936 | ||||||||||||
IT SERVICES — 3.2% | ||||||||||||
Acxiom Corp. (a) | 4,500 | 77,175 | ||||||||||
Alliance Data Systems Corp. (a) | 6,739 | 478,671 | ||||||||||
Broadridge Financial Solutions, Inc. | 8,200 | 179,826 | ||||||||||
DST Systems, Inc. | 2,266 | 100,497 | ||||||||||
Gartner, Inc. (a) | 9,386 | 311,616 | ||||||||||
Global Payments, Inc. | 10,257 | 473,976 | ||||||||||
Lender Processing Services, Inc. | 11,700 | 345,384 | ||||||||||
ManTech International Corp. (Class A) (a) | 1,500 | 61,995 | ||||||||||
NeuStar, Inc. (Class A) (a) | 9,442 | 245,964 | ||||||||||
2,275,104 | ||||||||||||
LEISURE EQUIPMENT & PRODUCTS — 0.5% | ||||||||||||
Polaris Industries, Inc. | 4,404 | 343,600 | ||||||||||
LIFE SCIENCES TOOLS & SERVICES — 1.2% | ||||||||||||
Bio-Rad Laboratories, Inc. (Class A) (a) | 1,486 | 154,321 | ||||||||||
Charles River Laboratories International, Inc. (a) | 3,310 | 117,637 | ||||||||||
Covance, Inc. (a)(b) | 4,740 | 243,684 | ||||||||||
Pharmaceutical Product Development, Inc. | 5,981 | 162,324 | ||||||||||
Techne Corp. | 2,820 | 185,190 | ||||||||||
863,156 | ||||||||||||
MACHINERY — 7.4% | ||||||||||||
AGCO Corp. (a) | 6,186 | 313,383 | ||||||||||
Bucyrus International, Inc. | 10,400 | 929,760 | ||||||||||
Crane Co. | 3,500 | 143,745 | ||||||||||
Donaldson Co., Inc. | 5,333 | 310,807 | ||||||||||
Gardner Denver, Inc. | 6,761 | 465,292 | ||||||||||
Graco, Inc. | 3,700 | 145,965 | ||||||||||
IDEX Corp. | 5,900 | 230,808 | ||||||||||
Joy Global, Inc. | 13,327 | 1,156,117 | ||||||||||
Kennametal, Inc. | 3,500 | 138,110 | ||||||||||
Lincoln Electric Holdings, Inc. | 1,923 | 125,514 | ||||||||||
Nordson Corp. | 2,564 | 235,580 | ||||||||||
Oshkosh Corp. (a) | 6,366 | 224,338 | ||||||||||
SPX Corp. | 3,214 | 229,769 | ||||||||||
The Timken Co. | 5,042 | 240,655 | ||||||||||
Valmont Industries, Inc. (b) | 1,880 | 166,812 | ||||||||||
Wabtec Corp. | 3,547 | 187,601 | ||||||||||
5,244,256 | ||||||||||||
MARINE — 0.2% | ||||||||||||
Kirby Corp. (a) | 3,936 | 173,381 | ||||||||||
MEDIA — 1.0% | ||||||||||||
DreamWorks Animation SKG, Inc. (Class A) (a) | 9,202 | 271,183 | ||||||||||
John Wiley & Sons, Inc. (Class A) | 3,602 | 162,954 | ||||||||||
Lamar Advertising Co. (Class A) (a)(b) | 7,371 | 293,661 | ||||||||||
727,798 | ||||||||||||
METALS & MINING — 0.6% | ||||||||||||
Carpenter Technology Corp. | 2,100 | 84,504 |
See accompanying notes to financial statements.
39
Table of Contents
SPDR S&P 400 Mid Cap Growth ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Compass Minerals International, Inc. | 4,199 | $ | 374,845 | |||||||||
459,349 | ||||||||||||
MULTI-UTILITIES — 0.9% | ||||||||||||
Aqua America, Inc. | 9,000 | 202,320 | ||||||||||
Black Hills Corp. | 2,500 | 75,000 | ||||||||||
National Fuel Gas Co. | 5,500 | 360,910 | ||||||||||
638,230 | ||||||||||||
MULTILINE RETAIL — 1.3% | ||||||||||||
99 Cents Only Stores (a) | 3,000 | 47,820 | ||||||||||
Dollar Tree, Inc. (a) | 16,100 | 902,888 | ||||||||||
950,708 | ||||||||||||
OFFICE ELECTRONICS — 0.4% | ||||||||||||
Zebra Technologies Corp. (Class A) (a) | 7,262 | 275,883 | ||||||||||
OIL, GAS & CONSUMABLE FUELS — 2.8% | ||||||||||||
Arch Coal, Inc. | 9,578 | 335,805 | ||||||||||
Bill Barrett Corp. (a)(b) | 6,059 | 249,207 | ||||||||||
Cimarex Energy Co. | 6,300 | 557,739 | ||||||||||
Forest Oil Corp. (a) | 6,400 | 243,008 | ||||||||||
Patriot Coal Corp. (a) | 5,100 | 98,787 | ||||||||||
Quicksilver Resources, Inc. (a) | 15,046 | 221,778 | ||||||||||
SM Energy Co. | 4,666 | 274,967 | ||||||||||
1,981,291 | ||||||||||||
PERSONAL PRODUCTS — 0.3% | ||||||||||||
Alberto-Culver Co. | 6,169 | 228,500 | ||||||||||
PHARMACEUTICALS — 2.0% | ||||||||||||
Endo Pharmaceuticals Holdings, Inc. (a) | 14,970 | 534,579 | ||||||||||
Medicis Pharmaceutical Corp. (Class A) | 7,800 | 208,962 | ||||||||||
Perrigo Co. | 10,673 | 675,921 | ||||||||||
1,419,462 | ||||||||||||
PROFESSIONAL SERVICES — 0.5% | ||||||||||||
FTI Consulting, Inc. (a) | 3,159 | 117,768 | ||||||||||
The Corporate Executive Board Co. | 2,500 | 93,875 | ||||||||||
Towers Watson & Co. (Class A) (b) | 2,340 | 121,820 | ||||||||||
333,463 | ||||||||||||
REAL ESTATE INVESTMENT TRUSTS — 7.9% | ||||||||||||
Alexandria Real Estate Equities, Inc. | 2,886 | 211,428 | ||||||||||
AMB Property Corp. | 7,300 | 231,483 | ||||||||||
BRE Properties, Inc. | 4,100 | 178,350 | ||||||||||
Camden Property Trust | 4,300 | 232,114 | ||||||||||
Corporate Office Properties Trust (b) | 8,578 | 299,801 | ||||||||||
Duke Realty Corp. | 11,300 | 140,798 | ||||||||||
Essex Property Trust, Inc. | 2,078 | 237,349 | ||||||||||
Federal Realty Investment Trust | 4,320 | 336,658 | ||||||||||
Highwoods Properties, Inc. | 3,800 | 121,030 | ||||||||||
Liberty Property Trust (b) | 5,800 | 185,136 | ||||||||||
Mack-Cali Realty Corp. | 3,400 | 112,404 | ||||||||||
Nationwide Health Properties, Inc. | 9,200 | 334,696 | ||||||||||
OMEGA Healthcare Investors, Inc. | 6,600 | 148,104 | ||||||||||
Potlatch Corp. | 1,700 | 55,335 | ||||||||||
Rayonier, Inc. | 5,000 | 262,600 | ||||||||||
Realty Income Corp. | 9,600 | 328,320 | ||||||||||
Regency Centers Corp. | 4,400 | 185,856 | ||||||||||
Senior Housing Properties Trust | 8,100 | 177,714 | ||||||||||
SL Green Realty Corp. | 10,052 | 678,611 | ||||||||||
The Macerich Co. | 16,700 | 791,079 | ||||||||||
UDR, Inc. | 10,700 | 251,664 | ||||||||||
Weingarten Realty Investors | 5,100 | 121,176 | ||||||||||
5,621,706 | ||||||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 0.6% | ||||||||||||
Jones Lang LaSalle, Inc. | 5,459 | 458,119 | ||||||||||
ROAD & RAIL — 0.9% | ||||||||||||
J.B. Hunt Transport Services, Inc. | 6,019 | 245,635 | ||||||||||
Kansas City Southern (a) | 5,907 | 282,709 | ||||||||||
Landstar Systems, Inc. | 2,306 | 94,408 | ||||||||||
622,752 | ||||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 5.2% | ||||||||||||
Atmel Corp. (a) | 59,245 | 729,899 | ||||||||||
Cree, Inc. (a) | 14,006 | 922,855 | ||||||||||
Fairchild Semiconductor International, Inc. (a) | 9,000 | 140,490 | ||||||||||
International Rectifier Corp. (a) | 4,100 | 121,729 | ||||||||||
Lam Research Corp. (a) | 8,136 | 421,282 | ||||||||||
RF Micro Devices, Inc. (a) | 35,200 | 258,720 | ||||||||||
Semtech Corp. (a) | 8,000 | 181,120 | ||||||||||
Silicon Laboratories, Inc. (a) | 5,573 | 256,470 | ||||||||||
Skyworks Solutions, Inc. (a) | 23,545 | 674,093 | ||||||||||
3,706,658 | ||||||||||||
SOFTWARE — 7.9% | ||||||||||||
ACI Worldwide, Inc. (a) | 4,200 | 112,854 | ||||||||||
Advent Software, Inc. (a) | 2,118 | 122,675 | ||||||||||
Ansys, Inc. (a) | 11,680 | 608,178 | ||||||||||
Cadence Design Systems, Inc. (a) | 15,767 | 130,235 | ||||||||||
Concur Technologies, Inc. (a) | 5,830 | 302,752 | ||||||||||
Factset Research Systems, Inc. | 6,002 | 562,747 | ||||||||||
Fair Isaac Corp. | 1,800 | 42,066 | ||||||||||
Informatica Corp. (a) | 12,054 | 530,738 | ||||||||||
Jack Henry & Associates, Inc. | 10,962 | 319,542 | ||||||||||
Mentor Graphics Corp. (a) | 4,900 | 58,800 | ||||||||||
MICROS Systems, Inc. (a) | 10,316 | 452,460 | ||||||||||
Parametric Technology Corp. (a) | 7,670 | 172,805 | ||||||||||
Quest Software, Inc. (a) | 7,672 | 212,821 | ||||||||||
Rovi Corp. (a) | 13,502 | 837,259 | ||||||||||
Solera Holdings, Inc. | 9,017 | 462,752 | ||||||||||
Synopsys, Inc. (a) | 10,100 | 271,791 | ||||||||||
TIBCO Software, Inc. (a) | 21,387 | 421,538 | ||||||||||
5,622,013 | ||||||||||||
SPECIALTY RETAIL — 6.5% | ||||||||||||
Advance Auto Parts, Inc. | 10,800 | 714,420 | ||||||||||
Aeropostale, Inc. (a) | 11,809 | 290,974 | ||||||||||
American Eagle Outfitters, Inc. | 10,800 | 158,004 | ||||||||||
AnnTaylor Stores Corp. (a) | 7,400 | 202,686 | ||||||||||
Ascena Retail Group, Inc. (a) | 8,900 | 235,138 | ||||||||||
Chico’s FAS, Inc. | 22,787 | 274,128 | ||||||||||
Dick’s Sporting Goods, Inc. (a) | 11,369 | 426,337 | ||||||||||
Guess ?, Inc. | 8,242 | 390,011 | ||||||||||
J. Crew Group, Inc. (a) | 8,207 | 354,050 | ||||||||||
PetSmart, Inc. | 15,217 | 605,941 | ||||||||||
Tractor Supply Co. | 9,342 | 452,994 |
See accompanying notes to financial statements.
40
Table of Contents
SPDR S&P 400 Mid Cap Growth ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Williams-Sonoma, Inc. | 13,600 | $ | 485,384 | |||||||||
4,590,067 | ||||||||||||
TEXTILES, APPAREL & LUXURY GOODS — 3.0% | ||||||||||||
Deckers Outdoor Corp. (a) | 5,000 | 398,700 | ||||||||||
Fossil, Inc. (a) | 6,597 | 464,957 | ||||||||||
Hanesbrands, Inc. (a) | 4,400 | 111,760 | ||||||||||
Phillips-Van Heusen Corp. | 8,500 | 535,585 | ||||||||||
The Timberland Co. (Class A) (a) | 2,500 | 61,475 | ||||||||||
The Warnaco Group, Inc. (a) | 5,700 | 313,899 | ||||||||||
Under Armour, Inc. (Class A) (a) | 4,500 | 246,780 | ||||||||||
2,133,156 | ||||||||||||
TRADING COMPANIES & DISTRIBUTORS — 0.5% | ||||||||||||
MSC Industrial Direct Co., Inc. (Class A) | 3,262 | 211,019 | ||||||||||
United Rentals, Inc. (a) | 3,200 | 72,800 | ||||||||||
Watsco, Inc. | 1,300 | 82,004 | ||||||||||
365,823 | ||||||||||||
WIRELESS TELECOMMUNICATION SERVICES — 0.4% | ||||||||||||
Syniverse Holdings, Inc. (a) | 9,000 | 277,650 | ||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $71,187,047) | 70,834,825 | |||||||||||
SHORT TERM INVESTMENTS — 3.3% | ||||||||||||
MONEY MARKET FUNDS — 3.3% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 2,202,278 | 2,202,278 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 115,732 | 115,732 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $2,318,010) | 2,318,010 | |||||||||||
TOTAL INVESTMENTS — 103.1% (f) | ||||||||||||
(Cost $73,505,057) | 73,152,835 | |||||||||||
OTHER ASSETS & LIABILITIES — (3.1)% | (2,175,173 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 70,977,662 | ||||||||||
(a) | Non-income producing security. | |||||
(b) | Security, or portion thereof, was on loan as of December 31, 2010. | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
41
Table of Contents
SPDR S&P 400 Mid Cap Value ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.5% | ||||||||||||
AEROSPACE & DEFENSE — 0.4% | ||||||||||||
Alliant Techsystems, Inc. (a)(b) | 1,592 | $ | 118,493 | |||||||||
AIRLINES — 0.6% | ||||||||||||
AirTran Holdings, Inc. (b) | 6,500 | 48,035 | ||||||||||
Alaska Air Group, Inc. (b) | 700 | 39,683 | ||||||||||
JetBlue Airways Corp. (b) | 9,600 | 63,456 | ||||||||||
151,174 | ||||||||||||
AUTO COMPONENTS — 0.6% | ||||||||||||
BorgWarner, Inc. (a)(b) | 2,240 | 162,086 | ||||||||||
AUTOMOBILES — 0.2% | ||||||||||||
Thor Industries, Inc. (a) | 2,000 | 67,920 | ||||||||||
BIOTECHNOLOGY — 0.7% | ||||||||||||
Vertex Pharmaceuticals, Inc. (a)(b) | 5,160 | 180,755 | ||||||||||
BUILDING PRODUCTS — 0.2% | ||||||||||||
Lennox International, Inc. (a) | 1,264 | 59,775 | ||||||||||
CAPITAL MARKETS — 2.5% | ||||||||||||
Affiliated Managers Group, Inc. (a)(b) | 1,100 | 109,142 | ||||||||||
Apollo Investment Corp. | 9,300 | 102,951 | ||||||||||
Eaton Vance Corp. (a) | 2,200 | 66,506 | ||||||||||
Greenhill & Co., Inc. | 636 | 51,948 | ||||||||||
Jefferies Group, Inc. | 3,800 | 101,194 | ||||||||||
Raymond James Financial, Inc. (a) | 4,805 | 157,124 | ||||||||||
SEI Investments Co. (a) | 3,640 | 86,596 | ||||||||||
675,461 | ||||||||||||
CHEMICALS — 3.8% | ||||||||||||
Ashland, Inc. | 3,825 | 194,540 | ||||||||||
Cabot Corp. | 3,185 | 119,915 | ||||||||||
Cytec Industries, Inc. | 2,404 | 127,556 | ||||||||||
Minerals Technologies, Inc. | 900 | 58,869 | ||||||||||
Olin Corp. (a) | 3,800 | 77,976 | ||||||||||
RPM International, Inc. (a) | 6,271 | 138,589 | ||||||||||
Sensient Technologies Corp. (a) | 2,400 | 88,152 | ||||||||||
The Scotts Miracle-Gro Co. (Class A) | 1,111 | 56,405 | ||||||||||
The Valspar Corp. | 4,783 | 164,918 | ||||||||||
1,026,920 | ||||||||||||
COMMERCIAL BANKS — 6.8% | ||||||||||||
Associated Ban-Corp. (a) | 8,289 | 125,578 | ||||||||||
BancorpSouth, Inc. (a) | 3,500 | 55,825 | ||||||||||
Bank of Hawaii Corp. (a) | 1,503 | 70,957 | ||||||||||
Cathay General Bancorp (a) | 3,700 | 61,790 | ||||||||||
City National Corp. (a) | 2,234 | 137,078 | ||||||||||
Commerce Bancshares, Inc. (a) | 3,740 | 148,608 | ||||||||||
Cullen/Frost Bankers, Inc. (a) | 2,957 | 180,732 | ||||||||||
East West Bancorp, Inc. (a) | 7,100 | 138,805 | ||||||||||
First Horizon National Corp. (b) | — | 3 | ||||||||||
FirstMerit Corp. (a) | 5,309 | 105,065 | ||||||||||
Fulton Financial Corp. (a) | 9,446 | 97,672 | ||||||||||
International Bancshares Corp. (a) | 2,500 | 50,075 | ||||||||||
PacWest Bancorp (a) | 1,500 | 32,070 | ||||||||||
Prosperity Bancshares, Inc. (a) | 2,227 | 87,476 | ||||||||||
SVB Financial Group (b) | 1,300 | 68,965 | ||||||||||
Synovus Financial Corp. (a) | 37,400 | 98,736 | ||||||||||
TCF Financial Corp. | 6,039 | 89,438 | ||||||||||
Trustmark Corp. (a) | 2,700 | 67,068 | ||||||||||
Valley National Bancorp (a) | 7,660 | 109,538 | ||||||||||
Webster Financial Corp. (a) | 3,500 | 68,950 | ||||||||||
Westamerica Bancorporation (a) | 787 | 43,655 | ||||||||||
1,838,084 | ||||||||||||
COMMERCIAL SERVICES & SUPPLIES — 1.6% | ||||||||||||
Clean Harbors, Inc. (a)(b) | 646 | 54,315 | ||||||||||
Corrections Corp. of America (a)(b) | 2,300 | 57,638 | ||||||||||
Deluxe Corp. (a) | 1,500 | 34,530 | ||||||||||
Herman Miller, Inc. (a) | 1,700 | 43,010 | ||||||||||
HNI Corp. | 2,199 | 68,609 | ||||||||||
Mine Safety Appliances Co. | 1,500 | 46,695 | ||||||||||
The Brink’s Co. | 2,200 | 59,136 | ||||||||||
Waste Connections, Inc. (a) | 2,300 | 63,319 | ||||||||||
427,252 | ||||||||||||
COMMUNICATIONS EQUIPMENT — 0.3% | ||||||||||||
Ciena Corp. (a)(b) | 2,300 | 48,415 | ||||||||||
Plantronics, Inc. | 800 | 29,776 | ||||||||||
78,191 | ||||||||||||
COMPUTERS & PERIPHERALS — 0.8% | ||||||||||||
Diebold, Inc. (a) | 3,206 | 102,752 | ||||||||||
NCR Corp. (a)(b) | 7,600 | 116,812 | ||||||||||
219,564 | ||||||||||||
CONSTRUCTION & ENGINEERING — 2.7% | ||||||||||||
Aecom Technology Corp. (a)(b) | 5,700 | 159,429 | ||||||||||
Granite Construction, Inc. (a) | 1,600 | 43,888 | ||||||||||
KBR, Inc. | 7,318 | 222,979 | ||||||||||
The Shaw Group, Inc. (b) | 4,100 | 140,343 | ||||||||||
URS Corp. (b) | 3,950 | 164,360 | ||||||||||
730,999 | ||||||||||||
CONSTRUCTION MATERIALS — 0.5% | ||||||||||||
Martin Marietta Materials, Inc. (a) | 1,440 | 132,826 | ||||||||||
CONTAINERS & PACKAGING — 2.2% | ||||||||||||
AptarGroup, Inc. (a) | 1,500 | 71,355 | ||||||||||
Greif, Inc. (Class A) | 1,521 | 94,150 | ||||||||||
Packaging Corp. of America (a) | 2,481 | 64,109 | ||||||||||
Rock-Tenn Co. (Class A) | 842 | 45,426 | ||||||||||
Silgan Holdings, Inc. (a) | 1,271 | 45,514 | ||||||||||
Sonoco Products Co. | 4,997 | 168,249 | ||||||||||
Temple-Inland, Inc. (a) | 5,120 | 108,749 | ||||||||||
597,552 | ||||||||||||
DIVERSIFIED CONSUMER SERVICES — 0.8% | ||||||||||||
Career Education Corp. (b) | 3,174 | 65,797 | ||||||||||
Matthews International Corp. (Class A) (a) | 1,400 | 48,972 | ||||||||||
Regis Corp. (a) | 2,700 | 44,820 | ||||||||||
Service Corp. International | 5,578 | 46,019 | ||||||||||
205,608 | ||||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 0.1% | ||||||||||||
Cincinnati Bell, Inc. (a)(b) | 9,600 | 26,880 | ||||||||||
ELECTRIC UTILITIES — 2.5% | ||||||||||||
Cleco Corp. (a) | 2,897 | 89,112 | ||||||||||
DPL, Inc. (a) | 2,950 | 75,845 | ||||||||||
Great Plains Energy, Inc. (a) | 6,490 | 125,841 | ||||||||||
Hawaiian Electric Industries, Inc. (a) | 4,495 | 102,441 | ||||||||||
IDACORP, Inc. | 2,332 | 86,237 |
See accompanying notes to financial statements.
42
Table of Contents
SPDR S&P 400 Mid Cap Value ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
PNM Resources, Inc. (a) | 4,100 | $ | 53,382 | |||||||||
Westar Energy, Inc. | 5,355 | 134,732 | ||||||||||
667,590 | ||||||||||||
ELECTRICAL EQUIPMENT — 1.4% | ||||||||||||
Acuity Brands, Inc. (a) | 1,307 | 75,375 | ||||||||||
AMETEK, Inc. (a) | 2,850 | 111,862 | ||||||||||
Hubbell, Inc. (Class B) | 1,352 | 81,296 | ||||||||||
Regal-Beloit Corp. (a) | 1,100 | 73,436 | ||||||||||
Thomas & Betts Corp. (b) | 927 | 44,774 | ||||||||||
386,743 | ||||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 3.3% | ||||||||||||
Arrow Electronics, Inc. (a)(b) | 5,618 | 192,416 | ||||||||||
Avnet, Inc. (a)(b) | 7,361 | 243,134 | ||||||||||
Ingram Micro, Inc. (Class A) (b) | 7,500 | 143,175 | ||||||||||
Itron, Inc. (b) | 600 | 33,270 | ||||||||||
National Instruments Corp. | 1,300 | 48,932 | ||||||||||
Tech Data Corp. (b) | 2,277 | 100,234 | ||||||||||
Trimble Navigation, Ltd. (a)(b) | 2,100 | 83,853 | ||||||||||
Vishay Intertechnology, Inc. (a)(b) | 3,300 | 48,444 | ||||||||||
893,458 | ||||||||||||
ENERGY EQUIPMENT & SERVICES — 2.9% | ||||||||||||
Exterran Holdings, Inc. (b) | 3,000 | 71,850 | ||||||||||
Helix Energy Solutions Group, Inc. (a)(b) | 5,000 | 60,700 | ||||||||||
Patterson-UTI Energy, Inc. | 7,384 | 159,125 | ||||||||||
Pride International, Inc. (b) | 8,506 | 280,698 | ||||||||||
Tidewater, Inc. (a) | 2,451 | 131,962 | ||||||||||
Unit Corp. (a)(b) | 1,895 | 88,080 | ||||||||||
792,415 | ||||||||||||
FOOD & STAPLES RETAILING — 0.7% | ||||||||||||
BJ’s Wholesale Club, Inc. (b) | 2,660 | 127,414 | ||||||||||
Ruddick Corp. (a) | 2,097 | 77,253 | ||||||||||
204,667 | ||||||||||||
FOOD PRODUCTS — 1.8% | ||||||||||||
Corn Products International, Inc. (a) | 1,626 | 74,796 | ||||||||||
Flowers Foods, Inc. | 1,700 | 45,747 | ||||||||||
Lancaster Colony Corp. (a) | 414 | 23,681 | ||||||||||
Ralcorp Holdings, Inc. (a)(b) | 2,667 | 173,382 | ||||||||||
Smithfield Foods, Inc. (b) | 7,956 | 164,132 | ||||||||||
Tootsie Roll Industries, Inc. (a) | 652 | 18,888 | ||||||||||
500,626 | ||||||||||||
GAS UTILITIES — 3.1% | ||||||||||||
AGL Resources, Inc. | 3,749 | 134,402 | ||||||||||
Atmos Energy Corp. | 4,326 | 134,971 | ||||||||||
Energen Corp. | 3,491 | 168,476 | ||||||||||
Questar Corp. (a) | 8,373 | 145,774 | ||||||||||
UGI Corp. (a) | 5,364 | 169,395 | ||||||||||
WGL Holdings, Inc. (a) | 2,420 | 86,563 | ||||||||||
839,581 | ||||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 2.2% | ||||||||||||
Beckman Coulter, Inc. (a) | 1,953 | 146,924 | ||||||||||
Hill-Rom Holdings, Inc. (a) | 1,813 | 71,378 | ||||||||||
Hologic, Inc. (a)(b) | 8,200 | 154,324 | ||||||||||
Immucor, Inc. (a)(b) | 1,300 | 25,779 | ||||||||||
Masimo Corp. (a) | 1,100 | 31,977 | ||||||||||
STERIS Corp. (a) | 1,461 | 53,268 | ||||||||||
Teleflex, Inc. (a) | 1,951 | 104,983 | ||||||||||
588,633 | ||||||||||||
HEALTH CARE PROVIDERS & SERVICES — 3.2% | ||||||||||||
Community Health Systems, Inc. (b) | 4,495 | 167,978 | ||||||||||
Health Net, Inc. (b) | 4,653 | 126,981 | ||||||||||
Henry Schein, Inc. (a)(b) | 2,066 | 126,832 | ||||||||||
Kindred Healthcare, Inc. (b) | 1,900 | 34,903 | ||||||||||
LifePoint Hospitals, Inc. (a)(b) | 2,575 | 94,631 | ||||||||||
Omnicare, Inc. | 5,639 | 143,174 | ||||||||||
Owens & Minor, Inc. (a) | 3,096 | 91,115 | ||||||||||
VCA Antech, Inc. (a)(b) | 2,100 | 48,909 | ||||||||||
WellCare Health Plans, Inc. (a)(b) | 1,000 | 30,220 | ||||||||||
864,743 | ||||||||||||
HOTELS, RESTAURANTS & LEISURE — 1.0% | ||||||||||||
Bob Evans Farms, Inc. | 1,504 | 49,572 | ||||||||||
Boyd Gaming Corp. (b) | 2,700 | 28,620 | ||||||||||
Brinker International, Inc. (a) | 2,273 | 47,460 | ||||||||||
International Speedway Corp. (Class A) (a) | 1,400 | 36,638 | ||||||||||
Scientific Games Corp. (Class A) (a)(b) | 3,000 | 29,880 | ||||||||||
Wendy’s/Arby’s Group, Inc. (Class A) | 15,300 | 70,686 | ||||||||||
262,856 | ||||||||||||
HOUSEHOLD DURABLES — 2.4% | ||||||||||||
American Greetings Corp. (Class A) (a) | 1,900 | 42,104 | ||||||||||
KB HOME | 3,400 | 45,866 | ||||||||||
M.D.C. Holdings, Inc. (a) | 1,800 | 51,786 | ||||||||||
Mohawk Industries, Inc. (b) | 2,700 | 153,252 | ||||||||||
NVR, Inc. (a)(b) | 274 | 189,340 | ||||||||||
Ryland Group, Inc. (a) | 2,100 | 35,763 | ||||||||||
Toll Brothers, Inc. (a)(b) | 6,876 | 130,644 | ||||||||||
648,755 | ||||||||||||
HOUSEHOLD PRODUCTS — 1.0% | ||||||||||||
Church & Dwight Co., Inc. (a) | 1,700 | 117,334 | ||||||||||
Energizer Holdings, Inc. (b) | 1,956 | 142,592 | ||||||||||
259,926 | ||||||||||||
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS — 0.1% | ||||||||||||
Dynegy, Inc. (b) | 4,900 | 27,538 | ||||||||||
INDUSTRIAL CONGLOMERATES — 0.4% | ||||||||||||
Carlisle Cos., Inc. | 2,931 | 116,478 | ||||||||||
INSURANCE — 7.4% | ||||||||||||
American Financial Group, Inc. | 3,753 | 121,184 | ||||||||||
Arthur J. Gallagher & Co. | 2,926 | 85,088 | ||||||||||
Brown & Brown, Inc. (a) | 3,000 | 71,820 | ||||||||||
Everest Re Group, Ltd. | 2,651 | 224,858 | ||||||||||
Fidelity National Financial, Inc. (Class A) (a) | 10,864 | 148,619 | ||||||||||
First American Financial Corp. (a) | 4,988 | 74,521 | ||||||||||
HCC Insurance Holdings, Inc. | 5,524 | 159,865 | ||||||||||
Mercury General Corp. (a) | 1,703 | 73,246 | ||||||||||
Old Republic International Corp. (a) | 12,163 | 165,782 | ||||||||||
Protective Life Corp. | 4,100 | 109,224 |
See accompanying notes to financial statements.
43
Table of Contents
SPDR S&P 400 Mid Cap Value ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Reinsurance Group of America, Inc. (a) | 3,523 | $ | 189,220 | |||||||||
StanCorp Financial Group, Inc. | 2,212 | 99,850 | ||||||||||
The Hanover Insurance Group, Inc. (a) | 2,158 | 100,822 | ||||||||||
Transatlantic Holdings, Inc. | 3,072 | 158,577 | ||||||||||
Unitrin, Inc. | 2,400 | 58,896 | ||||||||||
W.R. Berkley Corp. (a) | 5,685 | 155,655 | ||||||||||
1,997,227 | ||||||||||||
INTERNET SOFTWARE & SERVICES — 0.5% | ||||||||||||
AOL, Inc. (a)(b) | 5,130 | 121,632 | ||||||||||
ValueClick, Inc. (b) | 1,300 | 20,839 | ||||||||||
142,471 | ||||||||||||
IT SERVICES — 1.4% | ||||||||||||
Acxiom Corp. (a)(b) | 2,100 | 36,015 | ||||||||||
Broadridge Financial Solutions, Inc. (a) | 2,929 | 64,233 | ||||||||||
Convergys Corp. (a)(b) | 5,800 | 76,386 | ||||||||||
CoreLogic, Inc. | 4,968 | 92,007 | ||||||||||
DST Systems, Inc. (a) | 850 | 37,698 | ||||||||||
ManTech International Corp. (Class A) (b) | 500 | 20,665 | ||||||||||
SRA International, Inc. (Class A) (a)(b) | 2,000 | 40,900 | ||||||||||
367,904 | ||||||||||||
LEISURE EQUIPMENT & PRODUCTS — 0.2% | ||||||||||||
Eastman Kodak Co. (a)(b) | 12,800 | 68,608 | ||||||||||
LIFE SCIENCES TOOLS & SERVICES — 1.1% | ||||||||||||
Bio-Rad Laboratories, Inc. (Class A) (b) | 400 | 41,540 | ||||||||||
Charles River Laboratories International, Inc. (b) | 1,500 | 53,310 | ||||||||||
Covance, Inc. (a)(b) | 1,400 | 71,974 | ||||||||||
Pharmaceutical Product Development, Inc. | 3,500 | 94,990 | ||||||||||
Techne Corp. (a) | 750 | 49,253 | ||||||||||
311,067 | ||||||||||||
MACHINERY — 5.6% | ||||||||||||
AGCO Corp. (a)(b) | 2,178 | 110,338 | ||||||||||
Crane Co. | 912 | 37,456 | ||||||||||
Donaldson Co., Inc. (a) | 1,700 | 99,076 | ||||||||||
Graco, Inc. (a) | 1,521 | 60,003 | ||||||||||
Harsco Corp. (a) | 3,926 | 111,184 | ||||||||||
IDEX Corp. | 1,718 | 67,208 | ||||||||||
Kennametal, Inc. (a) | 2,684 | 105,911 | ||||||||||
Lincoln Electric Holdings, Inc. (a) | 1,300 | 84,851 | ||||||||||
Nordson Corp. (a) | 700 | 64,316 | ||||||||||
Oshkosh Corp. (b) | 1,950 | 68,718 | ||||||||||
Pentair, Inc. (a) | 4,748 | 173,350 | ||||||||||
SPX Corp. | 1,252 | 89,505 | ||||||||||
Terex Corp. (a)(b) | 5,200 | 161,408 | ||||||||||
The Timken Co. | 2,000 | 95,460 | ||||||||||
Trinity Industries, Inc. (a) | 3,800 | 101,118 | ||||||||||
Valmont Industries, Inc. (a) | 340 | 30,168 | ||||||||||
Wabtec Corp. (a) | 1,000 | 52,890 | ||||||||||
1,512,960 | ||||||||||||
MARINE — 0.5% | ||||||||||||
Alexander & Baldwin, Inc. | 2,000 | 80,060 | ||||||||||
Kirby Corp. (a)(b) | 1,100 | 48,455 | ||||||||||
128,515 | ||||||||||||
MEDIA — 0.6% | ||||||||||||
Harte-Hanks, Inc. (a) | 1,900 | 24,263 | ||||||||||
John Wiley & Sons, Inc. (Class A) (a) | 900 | 40,716 | ||||||||||
Scholastic Corp. | 1,100 | 32,494 | ||||||||||
The New York Times Co. (Class A) (b) | 5,600 | 54,880 | ||||||||||
152,353 | ||||||||||||
METALS & MINING — 2.1% | ||||||||||||
Carpenter Technology Corp. | 1,300 | 52,312 | ||||||||||
Commercial Metals Co. (a) | 5,426 | 90,017 | ||||||||||
Reliance Steel & Aluminum Co. (a) | 3,600 | 183,960 | ||||||||||
Steel Dynamics, Inc. (a) | 10,400 | 190,320 | ||||||||||
Worthington Industries, Inc. (a) | 2,600 | 47,840 | ||||||||||
564,449 | ||||||||||||
MULTI-UTILITIES — 4.8% | ||||||||||||
Alliant Energy Corp. | 5,332 | 196,058 | ||||||||||
Aqua America, Inc. (a) | 3,307 | 74,341 | ||||||||||
Black Hills Corp. | 900 | 27,000 | ||||||||||
MDU Resources Group, Inc. | 9,136 | 185,187 | ||||||||||
National Fuel Gas Co. (a) | 1,904 | 124,940 | ||||||||||
NSTAR (a) | 4,961 | 209,305 | ||||||||||
NV Energy, Inc. | 11,264 | 158,259 | ||||||||||
OGE Energy Corp. | 4,689 | 213,537 | ||||||||||
Vectren Corp. | 3,922 | 99,540 | ||||||||||
1,288,167 | ||||||||||||
MULTILINE RETAIL — 0.4% | ||||||||||||
99 Cents Only Stores (b) | 1,100 | 17,534 | ||||||||||
Saks, Inc. (b) | 7,700 | 82,390 | ||||||||||
99,924 | ||||||||||||
OIL, GAS & CONSUMABLE FUELS — 4.0% | ||||||||||||
Arch Coal, Inc. (a) | 4,200 | 147,252 | ||||||||||
Cimarex Energy Co. | 1,700 | 150,501 | ||||||||||
Comstock Resources, Inc. (a)(b) | 2,300 | 56,488 | ||||||||||
Forest Oil Corp. (a)(b) | 3,095 | 117,517 | ||||||||||
Frontier Oil Corp. (a)(b) | 5,000 | 90,050 | ||||||||||
Overseas Shipholding Group, Inc. | 1,300 | 46,046 | ||||||||||
Patriot Coal Corp. (b) | 1,900 | 36,803 | ||||||||||
Plains Exploration & Production Co. (a)(b) | 6,700 | 215,338 | ||||||||||
SM Energy Co. (a) | 1,300 | 76,609 | ||||||||||
Southern Union Co. (a) | 6,054 | 145,720 | ||||||||||
1,082,324 | ||||||||||||
PAPER & FOREST PRODUCTS — 0.2% | ||||||||||||
Louisiana-Pacific Corp. (a)(b) | 6,300 | 59,598 | ||||||||||
PERSONAL PRODUCTS — 0.2% | ||||||||||||
Alberto-Culver Co. | 1,845 | 68,339 | ||||||||||
PROFESSIONAL SERVICES — 1.7% | ||||||||||||
FTI Consulting, Inc. (a)(b) | 1,089 | 40,598 | ||||||||||
Korn/Ferry International (b) | 2,200 | 50,842 | ||||||||||
Manpower, Inc. | 3,950 | 247,902 | ||||||||||
Navigant Consulting, Inc. (b) | 2,400 | 22,080 |
See accompanying notes to financial statements.
44
Table of Contents
SPDR S&P 400 Mid Cap Value ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
The Corporate Executive Board Co. (a) | 700 | $ | 26,285 | |||||||||
Towers Watson & Co. (Class A) (a) | 1,300 | 67,678 | ||||||||||
455,385 | ||||||||||||
REAL ESTATE INVESTMENT TRUSTS — 7.2% | ||||||||||||
Alexandria Real Estate Equities, Inc. | 1,600 | 117,216 | ||||||||||
AMB Property Corp. | 5,335 | 169,173 | ||||||||||
BRE Properties, Inc. | 1,562 | 67,947 | ||||||||||
Camden Property Trust | 1,691 | 91,280 | ||||||||||
Cousins Properties, Inc. (a) | 4,900 | 40,866 | ||||||||||
Duke Realty Corp. | 7,861 | 97,948 | ||||||||||
Equity One, Inc. | 2,200 | 39,996 | ||||||||||
Essex Property Trust, Inc. (a) | 740 | 84,523 | ||||||||||
Federal Realty Investment Trust (a) | 1,350 | 105,205 | ||||||||||
Highwoods Properties, Inc. (a) | 2,014 | 64,146 | ||||||||||
Hospitality Properties Trust (a) | 5,896 | 135,844 | ||||||||||
Liberty Property Trust (a) | 3,343 | 106,709 | ||||||||||
Mack-Cali Realty Corp. | 2,558 | 84,567 | ||||||||||
Nationwide Health Properties, Inc. (a) | 2,654 | 96,552 | ||||||||||
OMEGA Healthcare Investors, Inc. (a) | 2,251 | 50,512 | ||||||||||
Potlatch Corp. | 1,300 | 42,315 | ||||||||||
Rayonier, Inc. | 1,992 | 104,620 | ||||||||||
Realty Income Corp. | 1,988 | 67,990 | ||||||||||
Regency Centers Corp. (a) | 2,286 | 96,561 | ||||||||||
Senior Housing Properties Trust | 3,637 | 79,796 | ||||||||||
UDR, Inc. (a) | 4,675 | 109,956 | ||||||||||
Weingarten Realty Investors (a) | 3,839 | 91,215 | ||||||||||
1,944,937 | ||||||||||||
ROAD & RAIL — 1.5% | ||||||||||||
Con-way, Inc. (a) | 2,600 | 95,082 | ||||||||||
J.B. Hunt Transport Services, Inc. | 2,000 | 81,620 | ||||||||||
Kansas City Southern (a)(b) | 2,700 | 129,222 | ||||||||||
Landstar Systems, Inc. | 1,500 | 61,410 | ||||||||||
Werner Enterprises, Inc. (a) | 2,070 | 46,782 | ||||||||||
414,116 | ||||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 1.4% | ||||||||||||
Fairchild Semiconductor International, Inc. (a)(b) | 2,500 | 39,025 | ||||||||||
Integrated Device Technology, Inc. (b) | 7,300 | 48,618 | ||||||||||
International Rectifier Corp. (b) | 1,800 | 53,442 | ||||||||||
Intersil Corp. (Class A) (a) | 5,900 | 90,093 | ||||||||||
Lam Research Corp. (b) | 2,900 | 150,162 | ||||||||||
381,340 | ||||||||||||
SOFTWARE — 1.0% | ||||||||||||
Cadence Design Systems, Inc. (a)(b) | 6,900 | 56,994 | ||||||||||
Fair Isaac Corp. | 1,200 | 28,044 | ||||||||||
Mentor Graphics Corp. (a)(b) | 3,400 | 40,800 | ||||||||||
Parametric Technology Corp. (a)(b) | 2,800 | 63,084 | ||||||||||
Synopsys, Inc. (a)(b) | 3,365 | 90,552 | ||||||||||
279,474 | ||||||||||||
SPECIALTY RETAIL — 2.1% | ||||||||||||
Aaron’s, Inc. | 3,500 | 71,365 | ||||||||||
American Eagle Outfitters, Inc. (a) | 5,351 | 78,285 | ||||||||||
Barnes & Noble, Inc. (a) | 1,900 | 26,885 | ||||||||||
Collective Brands, Inc. (b) | 3,100 | 65,410 | ||||||||||
Foot Locker, Inc. (a) | 7,464 | 146,444 | ||||||||||
Office Depot, Inc. (a)(b) | 13,200 | 71,280 | ||||||||||
Rent-A-Center, Inc. (a) | 3,100 | 100,068 | ||||||||||
559,737 | ||||||||||||
TEXTILES, APPAREL & LUXURY GOODS — 0.4% | ||||||||||||
Hanesbrands, Inc. (a)(b) | 2,966 | 75,336 | ||||||||||
The Timberland Co. (Class A) (a)(b) | 900 | 22,131 | ||||||||||
97,467 | ||||||||||||
THRIFTS & MORTGAGE FINANCE — 2.8% | ||||||||||||
Astoria Financial Corp. (a) | 3,900 | 54,249 | ||||||||||
First Niagara Financial Group, Inc. | 10,167 | 142,134 | ||||||||||
New York Community Bancorp, Inc. (a) | 21,054 | 396,868 | ||||||||||
NewAlliance Bancshares, Inc. | 5,000 | 74,900 | ||||||||||
Washington Federal, Inc. (a) | 5,364 | 90,759 | ||||||||||
758,910 | ||||||||||||
TOBACCO — 0.2% | ||||||||||||
Universal Corp. (a) | 1,179 | 47,985 | ||||||||||
TRADING COMPANIES & DISTRIBUTORS — 0.8% | ||||||||||||
GATX Corp. | 2,200 | 77,616 | ||||||||||
MSC Industrial Direct Co., Inc. (Class A) | 900 | 58,221 | ||||||||||
United Rentals, Inc. (a)(b) | 1,700 | 38,675 | ||||||||||
Watsco, Inc. | 900 | 56,772 | ||||||||||
231,284 | ||||||||||||
WIRELESS TELECOMMUNICATION SERVICES — 0.6% | ||||||||||||
Telephone & Data Systems, Inc. | 4,395 | 160,637 | ||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $25,955,605) | 26,928,727 | |||||||||||
SHORT TERM INVESTMENTS — 26.7% | ||||||||||||
MONEY MARKET FUNDS — 26.7% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (c)(d) | 7,127,929 | 7,127,929 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (d)(e) | 98,137 | 98,137 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $7,226,066) | 7,226,066 | |||||||||||
TOTAL INVESTMENTS — 126.2% (f) | ||||||||||||
(Cost $33,181,671) | 34,154,793 | |||||||||||
OTHER ASSETS & LIABILITIES — (26.2)% | (7,101,133 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 27,053,660 | ||||||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Non-income producing security. | |||||
(c) | Investments of cash collateral for securities loaned. | |||||
(d) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(e) | The rate shown is the annualized seven-day yield at period end. | |||||
(f) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
45
Table of Contents
SPDR S&P 600 Small Cap ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.8% | ||||||||||||
AEROSPACE & DEFENSE — 2.9% | ||||||||||||
AAR Corp. (a)(b) | 5,390 | $ | 148,063 | |||||||||
Aerovironment, Inc. (a)(b) | 2,023 | 54,277 | ||||||||||
American Science & Engineering, Inc. (a) | 1,217 | 103,725 | ||||||||||
Applied Signal Technology, Inc. (a) | 1,811 | 68,619 | ||||||||||
Ceradyne, Inc. (a)(b) | 3,393 | 106,981 | ||||||||||
Cubic Corp. | 2,109 | 99,439 | ||||||||||
Curtiss-Wright Corp. (a) | 6,261 | 207,865 | ||||||||||
Esterline Technologies Corp. (b) | 4,100 | 281,219 | ||||||||||
GenCorp, Inc. (b) | 8,073 | 41,738 | ||||||||||
Moog, Inc. (Class A) (a)(b) | 6,141 | 244,412 | ||||||||||
Orbital Sciences Corp. (a)(b) | 7,865 | 134,728 | ||||||||||
Teledyne Technologies, Inc. (b) | 4,958 | 218,003 | ||||||||||
Triumph Group, Inc. (a) | 2,269 | 202,871 | ||||||||||
1,911,940 | ||||||||||||
AIR FREIGHT & LOGISTICS — 0.4% | ||||||||||||
Forward Air Corp. | 3,927 | 111,448 | ||||||||||
HUB Group, Inc. (Class A) (b) | 5,133 | 180,374 | ||||||||||
291,822 | ||||||||||||
AIRLINES — 0.3% | ||||||||||||
Allegiant Travel Co. (a) | 2,037 | 100,302 | ||||||||||
SkyWest, Inc. (a) | 7,499 | 117,134 | ||||||||||
217,436 | ||||||||||||
AUTO COMPONENTS — 0.3% | ||||||||||||
Drew Industries, Inc. (a) | 2,649 | 60,185 | ||||||||||
Spartan Motors, Inc. | 4,422 | 26,930 | ||||||||||
Standard Motor Products, Inc. | 2,633 | 36,072 | ||||||||||
Superior Industries International, Inc. (a) | 3,157 | 66,992 | ||||||||||
190,179 | ||||||||||||
AUTOMOBILES — 0.1% | ||||||||||||
Winnebago Industries, Inc. (a)(b) | 3,951 | 60,055 | ||||||||||
BEVERAGES — 0.2% | ||||||||||||
Boston Beer Co., Inc. (Class A) (a)(b) | 1,224 | 116,390 | ||||||||||
BIOTECHNOLOGY — 1.3% | ||||||||||||
ArQule, Inc. (a)(b) | 5,095 | 29,908 | ||||||||||
Cubist Pharmaceuticals, Inc. (a)(b) | 8,039 | 172,034 | ||||||||||
Emergent Biosolutions, Inc. (a)(b) | 2,963 | 69,512 | ||||||||||
Martek Biosciences Corp. (b) | 4,584 | 143,479 | ||||||||||
Regeneron Pharmaceuticals, Inc. (a)(b) | 9,923 | 325,772 | ||||||||||
Savient Pharmaceuticals, Inc. (a)(b) | 9,535 | 106,220 | ||||||||||
846,925 | ||||||||||||
BUILDING PRODUCTS — 1.2% | ||||||||||||
A.O. Smith Corp. | 4,580 | 174,387 | ||||||||||
AAON, Inc. (a) | 1,647 | 46,462 | ||||||||||
Apogee Enterprises, Inc. (a) | 3,815 | 51,388 | ||||||||||
Gibraltar Industries, Inc. (a)(b) | 4,093 | 55,542 | ||||||||||
Griffon Corp. (a)(b) | 6,381 | 81,294 | ||||||||||
NCI Building Systems, Inc. (b) | 2,315 | 32,387 | ||||||||||
Quanex Building Products Corp. (a) | 5,096 | 96,671 | ||||||||||
Simpson Manufacturing Co., Inc. (a) | 5,346 | 165,245 | ||||||||||
Universal Forest Products, Inc. | 2,659 | 103,435 | ||||||||||
806,811 | ||||||||||||
CAPITAL MARKETS — 1.0% | ||||||||||||
Investment Technology Group, Inc. (b) | 5,671 | 92,834 | ||||||||||
LaBranche & Cos., Inc. (a)(b) | 4,881 | 17,572 | ||||||||||
optionsXpress Holdings, Inc. (a) | 5,800 | 90,886 | ||||||||||
Piper Jaffray Co., Inc. (b) | 2,171 | 76,007 | ||||||||||
Stifel Financial Corp. (a)(b) | 4,749 | 294,628 | ||||||||||
SWS Group, Inc. | 3,944 | 19,917 | ||||||||||
TradeStation Group, Inc. (b) | 5,436 | 36,693 | ||||||||||
628,537 | ||||||||||||
CHEMICALS — 2.0% | ||||||||||||
A. Schulman, Inc. | 4,317 | 98,816 | ||||||||||
American Vanguard Corp. (a) | 2,922 | 24,954 | ||||||||||
Arch Chemicals, Inc. | 3,403 | 129,076 | ||||||||||
Balchem Corp. (a) | 3,901 | 131,893 | ||||||||||
Calgon Carbon Corp. (a)(b) | 7,710 | 116,575 | ||||||||||
H.B. Fuller Co. (a) | 6,623 | 135,904 | ||||||||||
LSB Industries, Inc. (a)(b) | 2,200 | 53,372 | ||||||||||
OM Group, Inc. (b) | 4,206 | 161,973 | ||||||||||
Penford Corp. (a)(b) | 1,578 | 9,642 | ||||||||||
PolyOne Corp. (b) | 12,752 | 159,273 | ||||||||||
Quaker Chemical Corp. (a) | 1,578 | 65,755 | ||||||||||
Stepan Co. (a) | 1,063 | 81,075 | ||||||||||
STR Holdings, Inc. (a)(b) | 5,680 | 113,600 | ||||||||||
Zep, Inc. (a) | 2,922 | 58,089 | ||||||||||
1,339,997 | ||||||||||||
COMMERCIAL BANKS — 5.9% | ||||||||||||
Bank of the Ozarks, Inc. (a) | 1,748 | 75,776 | ||||||||||
Boston Private Financial Holdings, Inc. (a) | 10,390 | 68,055 | ||||||||||
City Holding Co. | 2,100 | 76,083 | ||||||||||
Columbia Banking System, Inc. (a) | 5,373 | 113,155 | ||||||||||
Community Bank System, Inc. | 4,544 | 126,187 | ||||||||||
First BanCorp- Puerto Rico (a)(b) | 43,512 | 20,016 | ||||||||||
First Commonwealth Financial Corp. (a) | 12,897 | 91,311 | ||||||||||
First Financial Bancorp. | 7,916 | 146,288 | ||||||||||
First Financial Bankshares, Inc. (a) | 2,829 | 144,788 | ||||||||||
First Midwest Bancorp, Inc. (a) | 10,043 | 115,695 | ||||||||||
Glacier Bancorp, Inc. (a) | 9,791 | 147,942 | ||||||||||
Hancock Holding Co. (a) | 3,992 | 139,161 | ||||||||||
Hanmi Financial Corp. (b) | 20,632 | 23,727 | ||||||||||
Home Bancshares, Inc. | 2,998 | 66,046 | ||||||||||
Independent Bank Corp.- Massachusetts | 2,931 | 79,284 | ||||||||||
Nara Bancorp, Inc. (a)(b) | 5,128 | 50,357 | ||||||||||
National Penn Bancshares, Inc. (a) | 17,219 | 138,269 | ||||||||||
NBT Bancorp, Inc. (a) | 4,730 | 114,229 | ||||||||||
Old National Bancorp (a) | 12,842 | 152,691 | ||||||||||
Pinnacle Financial Partners, Inc. (a)(b) | 4,606 | 62,549 | ||||||||||
PrivateBancorp, Inc. (a) | 7,933 | 114,077 | ||||||||||
S&T Bancorp, Inc. | 3,343 | 75,518 | ||||||||||
Signature Bank (a)(b) | 5,518 | 275,900 | ||||||||||
Simmons First National Corp. (a) | 2,314 | 65,949 |
See accompanying notes to financial statements.
46
Table of Contents
SPDR S&P 600 Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Sterling Bancorp | 3,622 | $ | 37,922 | |||||||||
Sterling Bancshares, Inc. (a) | 13,893 | 97,529 | ||||||||||
Susquehanna Bancshares, Inc. (a) | 17,678 | 171,123 | ||||||||||
Texas Capital Bancshares, Inc. (a)(b) | 5,019 | 106,754 | ||||||||||
Tompkins Financial Corp. (a) | 1,165 | 45,621 | ||||||||||
UMB Financial Corp. (a) | 4,049 | 167,710 | �� | |||||||||
Umpqua Holdings Corp. (a) | 15,625 | 190,312 | ||||||||||
United Bankshares, Inc. (a) | 5,239 | 152,979 | ||||||||||
United Community Banks, Inc. (a)(b) | 12,869 | 25,095 | ||||||||||
Whitney Holding Corp. (a) | 13,149 | 186,058 | ||||||||||
Wilmington Trust Corp. | 12,511 | 54,298 | ||||||||||
Wilshire Bancorp, Inc. (a) | 2,676 | 20,391 | ||||||||||
Wintrust Financial Corp. | 4,641 | 153,292 | ||||||||||
3,892,137 | ||||||||||||
COMMERCIAL SERVICES & SUPPLIES — 2.5% | ||||||||||||
ABM Industries, Inc. (a) | 6,356 | 167,163 | ||||||||||
Consolidated Graphics, Inc. (b) | 1,430 | 69,255 | ||||||||||
G & K Services, Inc. (Class A) | 2,529 | 78,172 | ||||||||||
Healthcare Services Group, Inc. | 8,931 | 145,307 | ||||||||||
Interface, Inc. (Class A) | 8,719 | 136,452 | ||||||||||
Mobile Mini, Inc. (a)(b) | 4,943 | 97,328 | ||||||||||
Sykes Enterprises, Inc. (a)(b) | 5,572 | 112,889 | ||||||||||
Tetra Tech, Inc. (a)(b) | 8,439 | 211,481 | ||||||||||
The Geo Group, Inc. (b) | 8,733 | 215,356 | ||||||||||
The Standard Register Co. (a) | 1,687 | 5,753 | ||||||||||
UniFirst Corp. | 2,007 | 110,485 | ||||||||||
United Stationers, Inc. (b) | 3,179 | 202,852 | ||||||||||
Viad Corp. | 2,760 | 70,297 | ||||||||||
1,622,790 | ||||||||||||
COMMUNICATIONS EQUIPMENT — 2.4% | ||||||||||||
Arris Group, Inc. (a)(b) | 16,830 | 188,833 | ||||||||||
Bel Fuse, Inc. (Class B) | 1,582 | 37,810 | ||||||||||
Black Box Corp. (a) | 2,390 | 91,513 | ||||||||||
Blue Coat Systems, Inc. (b) | 5,909 | 176,502 | ||||||||||
Comtech Telecommunications Corp. (a) | 3,812 | 105,707 | ||||||||||
DG Fastchannel, Inc. (a)(b) | 3,283 | 94,813 | ||||||||||
Digi International, Inc. (a)(b) | 3,387 | 37,596 | ||||||||||
EMS Technologies, Inc. (b) | 2,110 | 41,736 | ||||||||||
Harmonic, Inc. (a)(b) | 13,221 | 113,304 | ||||||||||
Netgear, Inc. (b) | 4,923 | 165,807 | ||||||||||
Network Equipment Technologies, Inc. (a)(b) | 4,105 | 19,006 | ||||||||||
Oplink Communications, Inc. (a)(b) | 2,665 | 49,222 | ||||||||||
PC-Tel, Inc. (b) | 2,526 | 15,156 | ||||||||||
Symmetricom, Inc. (b) | 5,871 | 41,625 | ||||||||||
Tekelec (b) | 9,371 | 111,609 | ||||||||||
Tollgrade Communications, Inc. (b) | 1,472 | 13,660 | ||||||||||
ViaSat, Inc. (a)(b) | 5,545 | 246,253 | ||||||||||
1,550,152 | ||||||||||||
COMPUTERS & PERIPHERALS — 0.9% | ||||||||||||
Avid Technology, Inc. (a)(b) | 3,961 | 69,159 | ||||||||||
Compellent Technologies, Inc. (b) | 3,204 | 88,398 | ||||||||||
Hutchinson Technology, Inc. (b) | 3,160 | 11,724 | ||||||||||
Intermec, Inc. (a)(b) | 6,519 | 82,531 | ||||||||||
Intevac, Inc. (b) | 3,083 | 43,193 | ||||||||||
Novatel Wireless, Inc. (b) | 4,346 | 41,504 | ||||||||||
Stratasys, Inc. (b) | 2,780 | 90,739 | ||||||||||
Super Micro Computer, Inc. (a)(b) | 3,421 | 39,478 | ||||||||||
Synaptics, Inc. (a)(b) | 4,621 | 135,765 | ||||||||||
602,491 | ||||||||||||
CONSTRUCTION & ENGINEERING — 0.9% | ||||||||||||
Comfort Systems USA, Inc. | 5,118 | 67,404 | ||||||||||
Dycom Industries, Inc. (b) | 4,799 | 70,786 | ||||||||||
EMCOR Group, Inc. (a)(b) | 9,043 | 262,066 | ||||||||||
Insituform Technologies, Inc. (Class A) (a)(b) | 5,304 | 140,609 | ||||||||||
Orion Marine Group, Inc. (a)(b) | 3,620 | 41,992 | ||||||||||
582,857 | ||||||||||||
CONSTRUCTION MATERIALS — 0.6% | ||||||||||||
Eagle Materials, Inc. (a) | 6,068 | 171,421 | ||||||||||
Headwaters, Inc. (b) | 8,200 | 37,556 | ||||||||||
Texas Industries, Inc. (a) | 3,804 | 174,147 | ||||||||||
383,124 | ||||||||||||
CONSUMER FINANCE — 0.9% | ||||||||||||
Cash America International, Inc. (a) | 3,993 | 147,462 | ||||||||||
Ezcorp, Inc. (b) | 6,786 | 184,104 | ||||||||||
First Cash Financial Services, Inc. (a)(b) | 4,164 | 129,042 | ||||||||||
World Acceptance Corp. (b) | 2,145 | 113,256 | ||||||||||
573,864 | ||||||||||||
CONTAINERS & PACKAGING — 0.1% | ||||||||||||
Myers Industries, Inc. | 4,831 | 47,054 | ||||||||||
DISTRIBUTORS — 0.0% | ||||||||||||
Audiovox Corp. (Class A) (b) | 2,495 | 21,532 | ||||||||||
DIVERSIFIED CONSUMER SERVICES — 1.3% | ||||||||||||
American Public Education, Inc. (a)(b) | 2,415 | 89,935 | ||||||||||
Capella Education Co. (a)(b) | 2,276 | 151,536 | ||||||||||
Coinstar, Inc. (a)(b) | 4,281 | 241,620 | ||||||||||
Corinthian Colleges, Inc. (a)(b) | 11,477 | 59,795 | ||||||||||
Hillenbrand, Inc. | 8,529 | 177,488 | ||||||||||
Pre-Paid Legal Services, Inc. (b) | 1,353 | 81,518 | ||||||||||
Universal Technical Institute, Inc. (a) | 2,852 | 62,801 | ||||||||||
864,693 | ||||||||||||
DIVERSIFIED FINANCIAL SERVICES — 0.4% | ||||||||||||
Interactive Brokers Group, Inc. (Class A) | 5,752 | 102,501 | ||||||||||
Portfolio Recovery Associates, Inc. (b) | 2,305 | 173,336 | ||||||||||
275,837 | ||||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 0.4% | ||||||||||||
Atlantic Tele-Network, Inc. (a) | 1,210 | 46,391 | ||||||||||
Cbeyond, Inc. (a)(b) | 4,227 | 64,589 | ||||||||||
General Communication, Inc. (Class A) (a)(b) | 5,262 | 66,617 | ||||||||||
Neutral Tandem, Inc. (b) | 4,464 | 64,460 | ||||||||||
242,057 | ||||||||||||
See accompanying notes to financial statements.
47
Table of Contents
SPDR S&P 600 Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
ELECTRIC UTILITIES — 1.1% | ||||||||||||
ALLETE, Inc. (a) | 4,202 | $ | 156,567 | |||||||||
Central Vermont Public Service Corp. (a) | 1,807 | 39,501 | ||||||||||
El Paso Electric Co. (a)(b) | 5,782 | 159,178 | ||||||||||
UIL Holdings Corp. (a) | 6,900 | 206,724 | ||||||||||
Unisource Energy Corp. (a) | 4,930 | 176,691 | ||||||||||
738,661 | ||||||||||||
ELECTRICAL EQUIPMENT — 1.3% | ||||||||||||
AZZ, Inc. | 1,651 | 66,057 | ||||||||||
Belden CDT, Inc. | 6,349 | 233,770 | ||||||||||
Brady Corp. (Class A) | 7,130 | 232,509 | ||||||||||
Encore Wire Corp. (a) | 2,623 | 65,785 | ||||||||||
II-VI, Inc. (a)(b) | 3,474 | 161,055 | ||||||||||
Powell Industries, Inc. (a)(b) | 1,242 | 40,837 | ||||||||||
Vicor Corp. (a) | 2,643 | 43,345 | ||||||||||
843,358 | ||||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 4.0% | ||||||||||||
Agilysys, Inc. (a)(b) | 2,634 | 14,829 | ||||||||||
Anixter International, Inc. (a) | 3,873 | 231,334 | ||||||||||
Benchmark Electronics, Inc. (b) | 8,252 | 149,856 | ||||||||||
Brightpoint, Inc. (b) | 9,198 | 80,299 | ||||||||||
Checkpoint Systems, Inc. (a)(b) | 5,408 | 111,134 | ||||||||||
Cognex Corp. | 5,425 | 159,604 | ||||||||||
CTS Corp. (a) | 4,665 | 51,595 | ||||||||||
Daktronics, Inc. (a) | 4,826 | 76,830 | ||||||||||
DTS Inc. (a)(b) | 2,364 | 115,954 | ||||||||||
Electro Scientific Industries, Inc. (b) | 3,290 | 52,739 | ||||||||||
FARO Technologies, Inc. (a)(b) | 2,155 | 70,770 | ||||||||||
Gerber Scientific, Inc. (a)(b) | 3,472 | 27,325 | ||||||||||
Insight Enterprises, Inc. (a)(b) | 6,306 | 82,987 | ||||||||||
Littelfuse, Inc. | 3,036 | 142,874 | ||||||||||
LoJack Corp. (a)(b) | 2,525 | 16,312 | ||||||||||
Mercury Computer System, Inc. (a)(b) | 3,313 | 60,893 | ||||||||||
Methode Electronics, Inc. (Class A) (a) | 5,031 | 65,252 | ||||||||||
MTS Systems Corp. | 2,125 | 79,603 | ||||||||||
Newport Corp. (a)(b) | 4,983 | 86,555 | ||||||||||
OSI Systems, Inc. (b) | 2,521 | 91,664 | ||||||||||
Park Electrochemical Corp. (a) | 2,826 | 84,780 | ||||||||||
Plexus Corp. (a)(b) | 5,512 | 170,541 | ||||||||||
Pulse Electronics Corp. | 5,626 | 29,930 | ||||||||||
RadiSys Corp. (a)(b) | 3,266 | 29,067 | ||||||||||
Rofin-Sinar Technologies, Inc. (a)(b) | 3,861 | 136,834 | ||||||||||
Rogers Corp. (a)(b) | 2,121 | 81,128 | ||||||||||
Scansource, Inc. (b) | 3,618 | 115,414 | ||||||||||
SYNNEX Corp. (a)(b) | 3,247 | 101,306 | ||||||||||
TTM Technologies, Inc. (a)(b) | 5,911 | 88,133 | ||||||||||
2,605,542 | ||||||||||||
ENERGY EQUIPMENT & SERVICES — 3.2% | ||||||||||||
Basic Energy Services, Inc. (a)(b) | 3,132 | 51,615 | ||||||||||
Bristow Group, Inc. (b) | 4,899 | 231,968 | ||||||||||
CARBO Ceramics, Inc. | 2,603 | 269,515 | ||||||||||
Gulf Island Fabrication, Inc. | 1,948 | 54,895 | ||||||||||
Hornbeck Offshore Services, Inc. (b) | 3,123 | 65,208 | ||||||||||
ION Geophysical Corp. (b) | 20,795 | 176,342 | ||||||||||
Lufkin Industries, Inc. (a) | 4,059 | 253,241 | ||||||||||
Matrix Service Co. (a)(b) | 3,558 | 43,336 | ||||||||||
Oil States International, Inc. (a)(b) | 6,836 | 438,119 | ||||||||||
Pioneer Drilling Co. (a)(b) | 7,331 | 64,586 | ||||||||||
SEACOR Holdings, Inc. (a) | 2,897 | 292,858 | ||||||||||
Seahawk Drilling, Inc. (a)(b) | 1,582 | 14,159 | ||||||||||
Tetra Technologies, Inc. (a)(b) | 10,343 | 122,771 | ||||||||||
2,078,613 | ||||||||||||
FOOD & STAPLES RETAILING — 1.0% | ||||||||||||
Casey’s General Stores, Inc. | 5,120 | 217,651 | ||||||||||
Nash Finch Co. (a) | 1,651 | 70,184 | ||||||||||
Spartan Stores, Inc. (a) | 3,064 | 51,935 | ||||||||||
The Andersons, Inc. (a) | 2,488 | 90,439 | ||||||||||
United Natural Foods, Inc. (a)(b) | 6,560 | 240,621 | ||||||||||
670,830 | ||||||||||||
FOOD PRODUCTS — 1.8% | ||||||||||||
Cal-Maine Foods, Inc. (a) | 1,817 | 57,381 | ||||||||||
Calavo Growers, Inc. (a) | 1,661 | 38,286 | ||||||||||
Darling International, Inc. (b) | 11,256 | 149,480 | ||||||||||
Diamond Foods, Inc. | 3,027 | 160,976 | ||||||||||
Hain Celestial Group, Inc. (a)(b) | 5,853 | 158,382 | ||||||||||
J&J Snack Foods Corp. (a) | 1,946 | 93,875 | ||||||||||
Sanderson Farms, Inc. (a) | 2,614 | 102,338 | ||||||||||
Seneca Foods Corp. (a)(b) | 1,219 | 32,888 | ||||||||||
Snyders-Lance, Inc. (a) | 6,254 | 146,594 | ||||||||||
TreeHouse Foods, Inc. (a)(b) | 4,775 | 243,955 | ||||||||||
1,184,155 | ||||||||||||
GAS UTILITIES — 1.9% | ||||||||||||
Laclede Group, Inc. (a) | 3,056 | 111,666 | ||||||||||
New Jersey Resources Corp. (a) | 5,602 | 241,502 | ||||||||||
Northwest Natural Gas Co. (a) | 3,612 | 167,850 | ||||||||||
Piedmont Natural Gas Co., Inc. | 9,821 | 274,595 | ||||||||||
South Jersey Industries, Inc. (a) | 4,051 | 213,974 | ||||||||||
Southwest Gas Corp. | 6,236 | 228,674 | ||||||||||
1,238,261 | ||||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 3.9% | ||||||||||||
Abaxis, Inc. (a)(b) | 3,042 | 81,678 | ||||||||||
Align Technology, Inc. (a)(b) | 9,258 | 180,901 | ||||||||||
American Medical Systems Holdings, Inc. (b) | 10,465 | 197,370 | ||||||||||
Analogic Corp. (a) | 1,766 | 87,435 | ||||||||||
Cantel Medical Corp. | 1,709 | 39,991 | ||||||||||
CONMED Corp. (b) | 3,844 | 101,597 | ||||||||||
CryoLife, Inc. (b) | 3,874 | 20,997 | ||||||||||
Cyberonics, Inc. (a)(b) | 3,235 | 100,350 | ||||||||||
Greatbatch, Inc. (a)(b) | 3,201 | 77,304 | ||||||||||
Haemonetics Corp. (a)(b) | 3,353 | 211,842 | ||||||||||
ICU Medical, Inc. (b) | 1,586 | 57,889 | ||||||||||
Integra LifeSciences Holdings Corp. (a)(b) | 2,768 | 130,926 | ||||||||||
Invacare Corp. | 4,386 | 132,282 | ||||||||||
Kensey Nash Corp. (a)(b) | 1,195 | 33,257 | ||||||||||
Meridian Bioscience, Inc. | 5,551 | 128,561 | ||||||||||
Merit Medical Systems, Inc. (a)(b) | 3,832 | 60,660 | ||||||||||
Natus Medical, Inc. (a)(b) | 3,961 | 56,167 |
See accompanying notes to financial statements.
48
Table of Contents
SPDR S&P 600 Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Neogen Corp. (a)(b) | 3,133 | $ | 128,547 | |||||||||
Palomar Medical Technologies, Inc. (a)(b) | 2,505 | 35,596 | ||||||||||
SurModics, Inc. (b) | 2,402 | 28,512 | ||||||||||
Symmetry Medical, Inc. (a)(b) | 4,855 | 44,909 | ||||||||||
The Cooper Cos., Inc. (a) | 6,253 | 352,294 | ||||||||||
West Pharmaceutical Services, Inc. (a) | 4,491 | 185,029 | ||||||||||
Zoll Medical Corp. (a)(b) | 2,917 | 108,600 | ||||||||||
2,582,694 | ||||||||||||
HEALTH CARE PROVIDERS & SERVICES — 4.9% | ||||||||||||
Air Methods Corp. (a)(b) | 1,476 | 83,054 | ||||||||||
Almost Family, Inc. (a)(b) | 1,084 | 41,647 | ||||||||||
Amedisys, Inc. (b) | 3,957 | 132,559 | ||||||||||
AMERIGROUP Corp. (a)(b) | 6,739 | 295,977 | ||||||||||
AMN Healthcare Services, Inc. (a)(b) | 5,356 | 32,886 | ||||||||||
AmSurg Corp. (a)(b) | 4,262 | 89,289 | ||||||||||
Bio-Reference Laboratories, Inc. (b) | 3,316 | 73,549 | ||||||||||
Catalyst Health Solutions, Inc. (a)(b) | 5,360 | 249,186 | ||||||||||
Centene Corp. (a)(b) | 6,700 | 169,778 | ||||||||||
Chemed Corp. (a) | 3,124 | 198,405 | ||||||||||
Corvel Corp. (a)(b) | 927 | 44,820 | ||||||||||
Cross Country Healthcare, Inc. (b) | 4,255 | 36,040 | ||||||||||
Genoptix, Inc. (b) | 2,360 | 44,887 | ||||||||||
Gentiva Health Services, Inc. (b) | 4,048 | 107,677 | ||||||||||
Hanger Orthopedic Group, Inc. (a)(b) | 4,392 | 93,066 | ||||||||||
Healthspring, Inc. (b) | 7,788 | 206,616 | ||||||||||
Healthways, Inc. (a)(b) | 4,675 | 52,173 | ||||||||||
HMS Holdings Corp. (b) | 3,774 | 244,442 | ||||||||||
IPC The Hospitalist Co. (a)(b) | 2,178 | 84,964 | ||||||||||
Landauer, Inc. (a) | 1,305 | 78,261 | ||||||||||
LCA-Vision, Inc. (b) | 2,528 | 14,536 | ||||||||||
LHC Group, Inc. (a)(b) | 2,119 | 63,570 | ||||||||||
Magellan Health Services, Inc. (b) | 4,570 | 216,070 | ||||||||||
Medcath Corp. (b) | 2,827 | 39,437 | ||||||||||
Molina Healthcare, Inc. (a)(b) | 2,294 | 63,888 | ||||||||||
MWI Veterinary Supply, Inc. (a)(b) | 1,713 | 108,176 | ||||||||||
PharMerica Corp. (a)(b) | 3,997 | 45,766 | ||||||||||
PSS World Medical, Inc. (a)(b) | 7,490 | 169,274 | ||||||||||
RehabCare Group, Inc. (b) | 3,391 | 80,367 | ||||||||||
The Ensign Group, Inc. (a) | 1,828 | 45,462 | ||||||||||
3,205,822 | ||||||||||||
HEALTH CARE TECHNOLOGY — 0.2% | ||||||||||||
Computer Programs and Systems, Inc. (a) | 1,494 | 69,979 | ||||||||||
Omnicell, Inc. (a)(b) | 4,501 | 65,039 | ||||||||||
135,018 | ||||||||||||
HOTELS, RESTAURANTS & LEISURE — 3.0% | ||||||||||||
Biglari Holdings, Inc. (a)(b) | 195 | 79,991 | ||||||||||
BJ’s Restaurants, Inc. (a)(b) | 3,043 | 107,813 | ||||||||||
Buffalo Wild Wings, Inc. (b) | 2,493 | 109,318 | ||||||||||
California Pizza Kitchen, Inc. (a)(b) | 3,369 | 58,216 | ||||||||||
CEC Entertainment, Inc. (b) | 2,796 | 108,569 | ||||||||||
Cracker Barrel Old Country Store, Inc. (a) | 3,213 | 175,976 | ||||||||||
DineEquity, Inc. (a)(b) | 2,147 | 106,019 | ||||||||||
Interval Leisure Group, Inc. (a)(b) | 5,512 | 88,964 | ||||||||||
Jack in the Box, Inc. (a)(b) | 7,255 | 153,298 | ||||||||||
Marcus Corp. | 2,933 | 38,921 | ||||||||||
Monarch Casino & Resort, Inc. (b) | 1,577 | 19,713 | ||||||||||
Multimedia Games, Inc. (a)(b) | 3,789 | 21,143 | ||||||||||
O’Charleys, Inc. (a)(b) | 2,629 | 18,929 | ||||||||||
P F Chang’s China Bistro, Inc. (a) | 3,131 | 151,728 | ||||||||||
Papa John’s International, Inc. (a)(b) | 2,698 | 74,735 | ||||||||||
Peet’s Coffee & Tea, Inc. (b) | 1,793 | 74,840 | ||||||||||
Pinnacle Entertainment, Inc. (a)(b) | 8,348 | 117,039 | ||||||||||
Red Robin Gourmet Burgers, Inc. (a)(b) | 2,141 | 45,967 | ||||||||||
Ruby Tuesday, Inc. (a)(b) | 8,785 | 114,732 | ||||||||||
Ruth’s Hospitality Group, Inc. (a)(b) | 4,211 | 19,497 | ||||||||||
Shuffle Master, Inc. (b) | 7,321 | 83,825 | ||||||||||
Sonic Corp. (a)(b) | 8,403 | 85,038 | ||||||||||
Texas Roadhouse, Inc. (Class A) (a)(b) | 7,926 | 136,089 | ||||||||||
1,990,360 | ||||||||||||
HOUSEHOLD DURABLES — 1.0% | ||||||||||||
Blyth, Inc. (a) | 775 | 26,722 | ||||||||||
Ethan Allen Interiors, Inc. | 3,890 | 77,839 | ||||||||||
Helen of Troy, Ltd. (b) | 4,165 | 123,867 | ||||||||||
Kid Brands, Inc. (a)(b) | 2,947 | 25,197 | ||||||||||
La-Z-Boy, Inc. (a)(b) | 7,097 | 64,015 | ||||||||||
M/I Homes, Inc. (a)(b) | 2,515 | 38,681 | ||||||||||
Meritage Homes Corp. (a)(b) | 4,376 | 97,147 | ||||||||||
National Presto Industries, Inc. | 716 | 93,087 | ||||||||||
Skyline Corp. (a) | 896 | 23,368 | ||||||||||
Standard Pacific Corp. (a)(b) | 13,571 | 62,426 | ||||||||||
Universal Electronics, Inc. (b) | 1,987 | 56,371 | ||||||||||
688,720 | ||||||||||||
HOUSEHOLD PRODUCTS — 0.3% | ||||||||||||
Central Garden & Pet Co. (Class A) (a)(b) | 7,497 | 74,070 | ||||||||||
WD-40 Co. | 2,231 | 89,865 | ||||||||||
163,935 | ||||||||||||
INDUSTRIAL CONGLOMERATES — 0.2% | ||||||||||||
Standex International Corp. | 1,738 | 51,984 | ||||||||||
Tredegar Corp. (a) | 3,143 | 60,911 | ||||||||||
112,895 | ||||||||||||
INSURANCE — 2.5% | ||||||||||||
AMERISAFE, Inc. (b) | 2,475 | 43,312 | ||||||||||
Delphi Financial Group | 7,362 | 212,320 | ||||||||||
eHealth, Inc. (a)(b) | 3,043 | 43,180 | ||||||||||
Employers Holdings, Inc. | 5,408 | 94,532 | ||||||||||
Horace Mann Educators Corp. | 5,409 | 97,578 | ||||||||||
Infinity Property & Casualty Corp. | 1,711 | 105,740 | ||||||||||
National Financial Partners Corp. (b) | 5,979 | 80,119 | ||||||||||
Presidential Life Corp. | 2,945 | 29,244 | ||||||||||
ProAssurance Corp. (b) | 4,184 | 253,550 |
See accompanying notes to financial statements.
49
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SPDR S&P 600 Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
RLI Corp. (a) | 2,228 | $ | 117,126 | |||||||||
Safety Insurance Group, Inc. | 2,022 | 96,187 | ||||||||||
Selective Insurance Group, Inc. | 7,324 | 132,931 | ||||||||||
Stewart Information Services Corp. | 2,545 | 29,344 | ||||||||||
The Navigators Group, Inc. (a)(b) | 1,721 | 86,652 | ||||||||||
Tower Group, Inc. (a) | 5,642 | 144,322 | ||||||||||
United Fire & Casualty Co. (a) | 2,847 | 63,545 | ||||||||||
1,629,682 | ||||||||||||
INTERNET & CATALOG RETAIL — 0.6% | ||||||||||||
Blue Nile, Inc. (a)(b) | 1,951 | 111,324 | ||||||||||
HSN, Inc. (a)(b) | 5,286 | 161,963 | ||||||||||
NutriSystem, Inc. (a) | 3,653 | 76,823 | ||||||||||
PetMed Express, Inc. (a) | 3,080 | 54,855 | ||||||||||
Vitacost.com, Inc. (a)(b)(c) | 857 | 0 | ||||||||||
404,965 | ||||||||||||
INTERNET SOFTWARE & SERVICES — 1.2% | ||||||||||||
comScore, Inc. (a)(b) | 3,472 | 77,460 | ||||||||||
DealerTrack Holdings, Inc. (a)(b) | 5,483 | 110,044 | ||||||||||
InfoSpace, Inc. (a)(b) | 4,938 | 40,985 | ||||||||||
j2 Global Communications, Inc. (a)(b) | 6,230 | 180,359 | ||||||||||
Liquidity Services, Inc. (a)(b) | 2,334 | 32,793 | ||||||||||
LogMeIn, Inc. (a)(b) | 2,272 | 100,740 | ||||||||||
Perficient, Inc. (a)(b) | 4,033 | 50,413 | ||||||||||
RightNow Technologies, Inc. (a)(b) | 3,223 | 76,288 | ||||||||||
Stamps.com, Inc. (a) | 1,611 | 21,346 | ||||||||||
The Knot, Inc. (a)(b) | 4,127 | 40,775 | ||||||||||
United Online, Inc. (a) | 11,704 | 77,246 | ||||||||||
808,449 | ||||||||||||
IT SERVICES — 1.7% | ||||||||||||
CACI International, Inc. (Class A) (a)(b) | 4,170 | 222,678 | ||||||||||
CIBER, Inc. (a)(b) | 9,536 | 44,628 | ||||||||||
CSG Systems International, Inc. (b) | 4,622 | 87,541 | ||||||||||
Forrester Research, Inc. (a) | 1,941 | 68,498 | ||||||||||
Heartland Payment Systems, Inc. (a) | 5,210 | 80,338 | ||||||||||
iGate Corp. | 3,983 | 78,505 | ||||||||||
Integral Systems Inc. (b) | 2,347 | 23,259 | ||||||||||
MAXIMUS, Inc. (a) | 2,373 | 155,621 | ||||||||||
NCI, Inc. (Class A) (a)(b) | 1,022 | 23,496 | ||||||||||
StarTek, Inc. (a)(b) | 1,581 | 8,016 | ||||||||||
TeleTech Holdings, Inc. (a)(b) | 3,912 | 80,548 | ||||||||||
Wright Express Corp. (a)(b) | 5,214 | 239,844 | ||||||||||
1,112,972 | ||||||||||||
LEISURE EQUIPMENT & PRODUCTS — 1.0% | ||||||||||||
Arctic Cat, Inc. (b) | 1,683 | 24,639 | ||||||||||
Brunswick Corp. (a) | 12,105 | 226,848 | ||||||||||
Callaway Golf Co. | 8,725 | 70,411 | ||||||||||
JAKKS Pacific, Inc. (a)(b) | 3,797 | 69,181 | ||||||||||
Pool Corp. (a) | 6,810 | 153,497 | ||||||||||
RC2 Corp. (b) | 2,937 | 63,939 | ||||||||||
Sturm Ruger & Co, Inc. | 2,528 | 38,653 | ||||||||||
647,168 | ||||||||||||
LIFE SCIENCES TOOLS & SERVICES — 0.9% | ||||||||||||
Affymetrix, Inc. (a)(b) | 9,636 | 48,469 | ||||||||||
Cambrex Corp. (a)(b) | 4,001 | 20,685 | ||||||||||
Dionex Corp. (b) | 2,344 | 276,615 | ||||||||||
Enzo Biochem, Inc. (a)(b) | 4,643 | 24,515 | ||||||||||
eResearch Technology, Inc. (a)(b) | 5,856 | 43,042 | ||||||||||
Kendle International, Inc. (a)(b) | 2,005 | 21,834 | ||||||||||
PAREXEL International Corp. (a)(b) | 7,968 | 169,161 | ||||||||||
604,321 | ||||||||||||
MACHINERY — 4.1% | ||||||||||||
Actuant Corp. (Class A) (a) | 9,324 | 248,205 | ||||||||||
Albany International Corp. (Class A) (a) | 3,728 | 88,316 | ||||||||||
Astec Industries, Inc. (a)(b) | 2,713 | 87,928 | ||||||||||
Badger Meter, Inc. | 2,085 | 92,199 | ||||||||||
Barnes Group, Inc. (a) | 6,231 | 128,795 | ||||||||||
Briggs & Stratton Corp. (a) | 6,874 | 135,349 | ||||||||||
Cascade Corp. (a) | 1,301 | 61,511 | ||||||||||
CIRCOR International, Inc. | 2,328 | 98,428 | ||||||||||
CLARCOR, Inc. | 6,881 | 295,126 | ||||||||||
EnPro Industries, Inc. (a)(b) | 2,772 | 115,204 | ||||||||||
ESCO Technologies, Inc. (a) | 3,593 | 135,959 | ||||||||||
Federal Signal Corp. (a) | 8,514 | 58,406 | ||||||||||
John Bean Technologies Corp. (a) | 3,890 | 78,306 | ||||||||||
Kaydon Corp. | 4,590 | 186,905 | ||||||||||
Lindsay Corp. (a) | 1,707 | 101,447 | ||||||||||
Lydall, Inc. (a)(b) | 2,317 | 18,652 | ||||||||||
Mueller Industries, Inc. | 5,202 | 170,106 | ||||||||||
Robbins & Myers, Inc. (a) | 4,486 | 160,509 | ||||||||||
The Toro Co. (a) | 4,274 | 263,449 | ||||||||||
Watts Water Technologies, Inc. (a) | 3,954 | 144,677 | ||||||||||
2,669,477 | ||||||||||||
MEDIA — 0.6% | ||||||||||||
Arbitron, Inc. (a) | 3,667 | 152,254 | ||||||||||
Live Nation, Inc. (a)(b) | 20,291 | 231,723 | ||||||||||
The E.W. Scripps Co. (Class A) (a)(b) | 4,215 | 42,782 | ||||||||||
426,759 | ||||||||||||
METALS & MINING — 0.9% | ||||||||||||
A.M. Castle & Co. (a)(b) | 2,265 | 41,699 | ||||||||||
AMCOL International Corp. (a) | 3,418 | 105,958 | ||||||||||
Brush Engineered Materials, Inc. (b) | 2,780 | 107,419 | ||||||||||
Century Aluminum Co. (a)(b) | 7,732 | 120,078 | ||||||||||
Kaiser Aluminum Corp. (a) | 2,027 | 101,533 | ||||||||||
Olympic Steel, Inc. (a) | 1,209 | 34,674 | ||||||||||
RTI International Metals, Inc. (b) | 4,131 | 111,454 | ||||||||||
622,815 | ||||||||||||
MULTI-UTILITIES — 0.6% | ||||||||||||
Avista Corp. | 7,703 | 173,472 | ||||||||||
CH Energy Group, Inc. (a) | 2,124 | 103,842 | ||||||||||
NorthWestern Corp. | 4,945 | 142,564 | ||||||||||
419,878 | ||||||||||||
MULTILINE RETAIL — 0.2% | ||||||||||||
Fred’s, Inc. (Class A) (a) | 5,345 | 73,547 | ||||||||||
Tuesday Morning Corp. (a)(b) | 4,950 | 26,136 | ||||||||||
99,683 | ||||||||||||
See accompanying notes to financial statements.
50
Table of Contents
SPDR S&P 600 Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
OIL, GAS & CONSUMABLE FUELS — 2.2% | ||||||||||||
Contango Oil & Gas Co. (a)(b) | 1,794 | $ | 103,926 | |||||||||
Gulfport Energy Corp. (b) | 4,292 | 92,922 | ||||||||||
Holly Corp. (a) | 6,030 | 245,843 | ||||||||||
Penn Virginia Corp. (a) | 6,230 | 104,789 | ||||||||||
Petroleum Development Corp. (a)(b) | 3,169 | 133,763 | ||||||||||
Petroquest Energy, Inc. (b) | 7,558 | 56,912 | ||||||||||
Stone Energy Corp. (a)(b) | 6,608 | 147,292 | ||||||||||
Swift Energy Co. (b) | 5,693 | 222,881 | ||||||||||
World Fuel Services Corp. (a) | 9,399 | 339,868 | ||||||||||
1,448,196 | ||||||||||||
PAPER & FOREST PRODUCTS — 1.0% | ||||||||||||
Buckeye Technologies, Inc. | 5,370 | 112,824 | ||||||||||
Clearwater Paper Corp. (a)(b) | 1,549 | 121,287 | ||||||||||
Deltic Timber Corp. (a) | 1,490 | 83,946 | ||||||||||
KapStone Paper and Packaging Corp. (a)(b) | 5,221 | 79,881 | ||||||||||
Neenah Paper, Inc. (a) | 2,032 | 39,990 | ||||||||||
Schweitzer-Mauduit International, Inc. (a) | 2,465 | 155,098 | ||||||||||
Wausau Paper Corp. | 6,727 | 57,919 | ||||||||||
650,945 | ||||||||||||
PERSONAL PRODUCTS — 0.1% | ||||||||||||
Medifast, Inc. (b) | 1,876 | 54,179 | ||||||||||
PHARMACEUTICALS — 1.2% | ||||||||||||
Hi-Tech Pharmacal Co., Inc. (b) | 1,430 | 35,679 | ||||||||||
Par Pharmaceutical Cos., Inc. (b) | 4,807 | 185,118 | ||||||||||
Salix Pharmaceuticals, Ltd. (a)(b) | 7,942 | 372,956 | ||||||||||
ViroPharma, Inc. (a)(b) | 10,601 | 183,609 | ||||||||||
777,362 | ||||||||||||
PROFESSIONAL SERVICES — 1.0% | ||||||||||||
Administaff, Inc. (a) | 3,090 | 90,537 | ||||||||||
CDI Corp. | 1,786 | 33,202 | ||||||||||
Dolan Media Co. (a) | 4,178 | 58,158 | ||||||||||
Exponent, Inc. (a)(b) | 1,916 | 71,908 | ||||||||||
Heidrick & Struggles International, Inc. | 2,438 | 69,849 | ||||||||||
Kelly Services, Inc. (Class A) (a)(b) | 3,898 | 73,283 | ||||||||||
On Assignment, Inc. (b) | 4,976 | 40,554 | ||||||||||
School Specialty, Inc. (a)(b) | 2,210 | 30,785 | ||||||||||
SFN Group, Inc. (b) | 7,211 | 70,379 | ||||||||||
TrueBlue, Inc. (a)(b) | 6,002 | 107,976 | ||||||||||
Volt Information Sciences, Inc. (a)(b) | 1,616 | 13,978 | ||||||||||
660,609 | ||||||||||||
REAL ESTATE INVESTMENT TRUSTS — 7.6% | ||||||||||||
Acadia Realty Trust (a) | 5,480 | 99,955 | ||||||||||
BioMed Realty Trust, Inc. (a) | 17,818 | 332,306 | ||||||||||
Cedar Shopping Centers, Inc. | 6,391 | 40,199 | ||||||||||
Colonial Properties Trust | 11,450 | 206,673 | ||||||||||
DiamondRock Hospitality Co. (a)(b) | 21,055 | 252,660 | ||||||||||
EastGroup Properties, Inc. (a) | 3,723 | 157,557 | ||||||||||
Entertainment Properties Trust | 6,307 | 291,699 | ||||||||||
Extra Space Storage, Inc. (a) | 11,967 | 208,226 | ||||||||||
Franklin Street Properties Corp. (a) | 9,456 | 134,748 | ||||||||||
Healthcare Realty Trust, Inc. (a) | 8,736 | 184,941 | ||||||||||
Home Properties, Inc. (a) | 5,137 | 285,052 | ||||||||||
Inland Real Estate Corp. (a) | 10,278 | 90,446 | ||||||||||
Kilroy Realty Corp. (a) | 7,165 | 261,308 | ||||||||||
Kite Realty Group Trust | 8,666 | 46,883 | ||||||||||
LaSalle Hotel Properties (a) | 9,950 | 262,680 | ||||||||||
Lexington Realty Trust (a) | 16,934 | 134,625 | ||||||||||
LTC Properties, Inc. | 3,562 | 100,021 | ||||||||||
Medical Properties Trust, Inc. | 15,147 | 164,042 | ||||||||||
Mid-America Apartment Communities, Inc. (a) | 4,647 | 295,038 | ||||||||||
National Retail Properties, Inc. | 11,367 | 301,226 | ||||||||||
Parkway Properties, Inc. | 3,034 | 53,156 | ||||||||||
Pennsylvania Real Estate Investment Trust (a) | 7,510 | 109,120 | ||||||||||
Post Properties, Inc. (a) | 6,620 | 240,306 | ||||||||||
PS Business Parks, Inc. (a) | 2,546 | 141,863 | ||||||||||
Saul Centers, Inc. (a) | 1,529 | 72,398 | ||||||||||
Sovran Self Storage, Inc. | 3,733 | 137,412 | ||||||||||
Tanger Factory Outlet Centers, Inc. (a) | 5,526 | 282,876 | ||||||||||
Universal Health Realty Income Trust (a) | 1,691 | 61,772 | ||||||||||
Urstadt Biddle Properties (Class A) (a) | 3,161 | 61,481 | ||||||||||
5,010,669 | ||||||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 0.1% | ||||||||||||
Forestar Real Estate Group, Inc. (a)(b) | 4,796 | 92,563 | ||||||||||
ROAD & RAIL — 0.8% | ||||||||||||
Arkansas Best Corp. (a) | 3,473 | 95,230 | ||||||||||
Heartland Express, Inc. (a) | 6,951 | 111,355 | ||||||||||
Knight Transportation, Inc. (a) | 8,449 | 160,531 | ||||||||||
Old Dominion Freight Line, Inc. (a)(b) | 5,763 | 184,358 | ||||||||||
551,474 | ||||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 5.9% | ||||||||||||
Advanced Energy Industries, Inc. (a)(b) | 5,286 | 72,101 | ||||||||||
ATMI, Inc. (a)(b) | 4,265 | 85,044 | ||||||||||
Brooks Automation, Inc. (b) | 8,940 | 81,086 | ||||||||||
Cabot Microelectronics Corp. (a)(b) | 3,076 | 127,500 | ||||||||||
CEVA, Inc. (b) | 2,975 | 60,988 | ||||||||||
Cohu, Inc. | 3,249 | 53,868 | ||||||||||
Cymer, Inc. (a)(b) | 4,017 | 181,046 | ||||||||||
Cypress Semiconductor Corp. (a)(b) | 22,574 | 419,425 | ||||||||||
Diodes, Inc. (b) | 4,916 | 132,683 | ||||||||||
DSP Group, Inc. (a)(b) | 3,217 | 26,186 | ||||||||||
Exar Corp. (b) | 5,989 | 41,803 | ||||||||||
FEI Co. (a)(b) | 5,213 | 137,675 | ||||||||||
Hittite Microwave Corp. (a)(b) | 3,335 | 203,568 | ||||||||||
Kopin Corp. (a)(b) | 8,863 | 36,870 | ||||||||||
Kulicke & Soffa Industries, Inc. (a)(b) | 9,564 | 68,861 | ||||||||||
Micrel, Inc. | 6,775 | 88,007 | ||||||||||
Microsemi Corp. (b) | 11,331 | 259,480 |
See accompanying notes to financial statements.
51
Table of Contents
SPDR S&P 600 Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
MKS Instruments, Inc. (b) | 6,879 | $ | 168,467 | |||||||||
Monolithic Power Systems, Inc. (a)(b) | 4,919 | 81,262 | ||||||||||
Pericom Semiconductor Corp. (a)(b) | 3,431 | 37,672 | ||||||||||
Power Integrations, Inc. (a) | 3,840 | 154,138 | ||||||||||
Rudolph Technologies, Inc. (b) | 4,305 | 35,430 | ||||||||||
Sigma Designs, Inc. (a)(b) | 3,786 | 53,648 | ||||||||||
Standard Microsystems Corp. (b) | 3,075 | 88,652 | ||||||||||
Supertex, Inc. (b) | 1,737 | 42,001 | ||||||||||
Tessera Technologies, Inc. (b) | 6,868 | 152,126 | ||||||||||
TriQuint Semiconductor, Inc. (b) | 21,683 | 253,474 | ||||||||||
Ultratech, Inc. (b) | 3,295 | 65,505 | ||||||||||
Varian Semiconductor Equipment Associates, Inc. (a)(b) | 10,059 | 371,881 | ||||||||||
Veeco Instruments, Inc. (a)(b) | 5,389 | 231,512 | ||||||||||
Volterra Semiconductor Corp. (a)(b) | 3,706 | 85,831 | ||||||||||
3,897,790 | ||||||||||||
SOFTWARE — 3.9% | ||||||||||||
Blackbaud, Inc. (a) | 6,008 | 155,607 | ||||||||||
Bottomline Technologies, Inc. (a)(b) | 4,391 | 95,329 | ||||||||||
Commvault Systems, Inc. (a)(b) | 5,832 | 166,912 | ||||||||||
Ebix, Inc. (a)(b) | 4,699 | 111,225 | ||||||||||
Epicor Software Corp. (b) | 6,302 | 63,650 | ||||||||||
EPIQ Systems, Inc. (a) | 4,463 | 61,277 | ||||||||||
Interactive Intelligence, Inc. (a)(b) | 1,853 | 48,474 | ||||||||||
JDA Software Group, Inc. (a)(b) | 6,001 | 168,028 | ||||||||||
Manhattan Associates, Inc. (a)(b) | 3,012 | 91,987 | ||||||||||
MicroStrategy, Inc. (b) | 1,102 | 94,188 | ||||||||||
Netscout Systems, Inc. (b) | 4,765 | 109,643 | ||||||||||
Progress Software Corp. (b) | 5,940 | 251,381 | ||||||||||
Quality Systems, Inc. | 2,633 | 183,836 | ||||||||||
Radiant Systems, Inc. (a)(b) | 4,537 | 88,789 | ||||||||||
Smith Micro Software, Inc. (a)(b) | 4,145 | 65,242 | ||||||||||
Sonic Solutions (a)(b) | 6,649 | 99,735 | ||||||||||
Sourcefire, Inc. (b) | 3,815 | 98,923 | ||||||||||
Synchronoss Technologies, Inc. (a)(b) | 3,256 | 86,968 | ||||||||||
Take-Two Interactive Software, Inc. (a)(b) | 11,567 | 141,580 | ||||||||||
Taleo Corp. (Class A) (a)(b) | 5,517 | 152,545 | ||||||||||
THQ, Inc. (a)(b) | 9,223 | 55,891 | ||||||||||
Tyler Technologies, Inc. (a)(b) | 3,412 | 70,833 | ||||||||||
Websense, Inc. (a)(b) | 5,640 | 114,210 | ||||||||||
2,576,253 | ||||||||||||
SPECIALTY RETAIL — 4.2% | ||||||||||||
Big 5 Sporting Goods Corp. | 2,939 | 44,878 | ||||||||||
Brown Shoe Co., Inc. (a) | 5,956 | 82,967 | ||||||||||
Cabela’s, Inc. (a)(b) | 5,473 | 119,038 | ||||||||||
Christopher & Banks Corp. | 4,929 | 30,313 | ||||||||||
Coldwater Creek, Inc. (b) | 8,162 | 25,874 | ||||||||||
Genesco, Inc. (a)(b) | 3,320 | 124,467 | ||||||||||
Group 1 Automotive, Inc. | 3,232 | 134,968 | ||||||||||
Haverty Furniture Cos., Inc. (a) | 2,548 | 33,073 | ||||||||||
Hibbett Sports, Inc. (a)(b) | 3,810 | 140,589 | ||||||||||
Hot Topic, Inc. (a) | 6,033 | 37,827 | ||||||||||
Jo-Ann Stores, Inc. (a)(b) | 3,612 | 217,515 | ||||||||||
Jos. A. Bank Clothiers, Inc. (a)(b) | 3,759 | 151,563 | ||||||||||
Kirkland’s, Inc. (a)(b) | 2,091 | 29,337 | ||||||||||
Lithia Motors, Inc. (Class A) | 2,948 | 42,127 | ||||||||||
Lumber Liquidators Holdings, Inc. (a)(b) | 3,181 | 79,239 | ||||||||||
MarineMax, Inc. (a)(b) | 2,987 | 27,928 | ||||||||||
Midas, Inc. (a)(b) | 1,897 | 15,385 | ||||||||||
Monro Muffler Brake, Inc. | 4,051 | 140,107 | ||||||||||
OfficeMax, Inc. (a)(b) | 11,571 | 204,807 | ||||||||||
Sonic Automotive, Inc. (Class A) (a) | 4,820 | 63,817 | ||||||||||
Stage Stores, Inc. (a) | 4,965 | 86,093 | ||||||||||
Stein Mart, Inc. (a) | 3,660 | 33,855 | ||||||||||
The Buckle, Inc. (a) | 3,555 | 134,272 | ||||||||||
The Cato Corp. (Class A) | 3,984 | 109,201 | ||||||||||
The Children’s Place Retail Stores, Inc. (a)(b) | 3,531 | 175,279 | ||||||||||
The Finish Line, Inc. (Class A) (a) | 7,289 | 125,298 | ||||||||||
The Men’s Wearhouse, Inc. (a) | 7,195 | 179,731 | ||||||||||
The Pep Boys — Manny, Moe & Jack | 7,188 | 96,535 | ||||||||||
Zale Corp. (b) | 3,158 | 13,453 | ||||||||||
Zumiez, Inc. (a)(b) | 2,883 | 77,466 | ||||||||||
2,777,002 | ||||||||||||
TEXTILES, APPAREL & LUXURY GOODS — 2.4% | ||||||||||||
Carter’s, Inc. (a)(b) | 7,798 | 230,119 | ||||||||||
Crocs, Inc. (b) | 11,872 | 203,249 | ||||||||||
Iconix Brand Group, Inc. (a)(b) | 9,910 | 191,362 | ||||||||||
K-Swiss, Inc. (Class A) (b) | 3,737 | 46,600 | ||||||||||
Liz Claiborne, Inc. (a)(b) | 12,916 | 92,479 | ||||||||||
Maidenform Brands, Inc. (b) | 3,163 | 75,185 | ||||||||||
Movado Group, Inc. (a)(b) | 2,371 | 38,268 | ||||||||||
Oxford Industries, Inc. (a) | 1,909 | 48,890 | ||||||||||
Perry Ellis International, Inc. (a)(b) | 1,333 | 36,618 | ||||||||||
Quiksilver, Inc. (b) | 17,630 | 89,384 | ||||||||||
Skechers USA, Inc. (a)(b) | 4,608 | 92,160 | ||||||||||
Steven Madden, Ltd. (a)(b) | 3,149 | 131,376 | ||||||||||
True Religion Apparel, Inc. (a)(b) | 3,436 | 76,485 | ||||||||||
Volcom, Inc. (a) | 2,291 | 43,231 | ||||||||||
Wolverine World Wide, Inc. (a) | 6,696 | 213,468 | ||||||||||
1,608,874 | ||||||||||||
THRIFTS & MORTGAGE FINANCE — 0.5% | ||||||||||||
Bank Mutual Corp. (a) | 6,259 | 29,918 | ||||||||||
Brookline Bancorp, Inc. (a) | 8,003 | 86,833 | ||||||||||
Dime Community Bancshares (a) | 3,755 | 54,785 | ||||||||||
Provident Financial Services, Inc. (a) | 7,057 | 106,772 | ||||||||||
TrustCo Bank Corp. NY | 10,535 | 66,792 | ||||||||||
345,100 | ||||||||||||
TOBACCO — 0.1% | ||||||||||||
Alliance One International, Inc. (a)(b) | 11,827 | 50,146 | ||||||||||
TRADING COMPANIES & DISTRIBUTORS — 0.4% | ||||||||||||
Applied Industrial Technologies, Inc. | 5,170 | 167,922 | ||||||||||
Kaman Corp. (Class A) (a) | 3,503 | 101,832 | ||||||||||
Lawson Products, Inc. (a) | 580 | 14,436 | ||||||||||
284,190 | ||||||||||||
See accompanying notes to financial statements.
52
Table of Contents
SPDR S&P 600 Small Cap ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
WATER UTILITIES — 0.1% | ||||||||||||
American States Water Co. (a) | 2,490 | $ | 85,830 | |||||||||
WIRELESS TELECOMMUNICATION SERVICES — 0.2% | ||||||||||||
NTELOS Holdings Corp. (a) | 4,034 | 76,848 | ||||||||||
USA Mobility, Inc. | 2,978 | 52,919 | ||||||||||
129,767 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $67,018,394) | 65,754,662 | |||||||||||
Principal | ||||||||||||
Amount | ||||||||||||
CORPORATE BONDS & NOTES — 0.0% | ||||||||||||
CAPITAL MARKETS — 0.0% | ||||||||||||
GAMCO Investors, Inc. Zero Coupon, 12/31/2015 (c) (Cost $474) | 4 | 0 | ||||||||||
Shares | ||||||||||||
SHORT TERM INVESTMENTS — 27.1% | ||||||||||||
MONEY MARKET FUNDS — 27.1% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 17,762,102 | 17,762,102 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (e)(f) | 126,568 | 126,568 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $17,888,670) | 17,888,670 | |||||||||||
TOTAL INVESTMENTS — 126.9% (g) | ||||||||||||
(Cost $84,907,538) | 83,643,332 | |||||||||||
OTHER ASSETS & LIABILITIES — (26.9)% | (17,739,576 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 65,903,756 | ||||||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Non-income producing security. | |||||
(c) | Securities are valued at fair value as determined in good faith by the Trust’s Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. Securities’ values are determined based on Level 2 inputs. (Note 2) | |||||
(d) | Investments of cash collateral for securities loaned. | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
53
Table of Contents
SPDR S&P 600 Small Cap Growth ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.7% | ||||||||||||
AEROSPACE & DEFENSE — 1.6% | ||||||||||||
Aerovironment, Inc. (a)(b) | 5,098 | $ | 136,779 | |||||||||
American Science & Engineering, Inc. | 6,601 | 562,603 | ||||||||||
Applied Signal Technology, Inc. | 9,806 | 371,550 | ||||||||||
Cubic Corp. | 7,330 | 345,610 | ||||||||||
Orbital Sciences Corp. (b) | 22,416 | 383,986 | ||||||||||
Triumph Group, Inc. | 12,076 | 1,079,715 | ||||||||||
2,880,243 | ||||||||||||
AIR FREIGHT & LOGISTICS — 0.4% | ||||||||||||
Forward Air Corp. | 12,229 | 347,059 | ||||||||||
HUB Group, Inc. (Class A) (b) | 11,188 | 393,146 | ||||||||||
740,205 | ||||||||||||
AIRLINES — 0.3% | ||||||||||||
Allegiant Travel Co. | 10,975 | 540,409 | ||||||||||
AUTO COMPONENTS — 0.1% | ||||||||||||
Superior Industries International, Inc. | 6,091 | 129,251 | ||||||||||
BEVERAGES — 0.4% | ||||||||||||
Boston Beer Co., Inc. (Class A) (a)(b) | 6,669 | 634,155 | ||||||||||
BIOTECHNOLOGY — 2.0% | ||||||||||||
ArQule, Inc. (a)(b) | 27,152 | 159,382 | ||||||||||
Cubist Pharmaceuticals, Inc. (a)(b) | 43,398 | 928,717 | ||||||||||
Emergent Biosolutions, Inc. (a)(b) | 9,282 | 217,756 | ||||||||||
Regeneron Pharmaceuticals, Inc. (a)(b) | 53,175 | 1,745,735 | ||||||||||
Savient Pharmaceuticals, Inc. (b) | 32,211 | 358,831 | ||||||||||
3,410,421 | ||||||||||||
BUILDING PRODUCTS — 0.4% | ||||||||||||
A.O. Smith Corp. | 13,935 | 530,645 | ||||||||||
AAON, Inc. (a) | 5,194 | 146,523 | ||||||||||
NCI Building Systems, Inc. (b) | 2,996 | 41,914 | ||||||||||
719,082 | ||||||||||||
CAPITAL MARKETS — 1.2% | ||||||||||||
optionsXpress Holdings, Inc. (a) | 31,004 | 485,832 | ||||||||||
Stifel Financial Corp. (a)(b) | 25,771 | 1,598,833 | ||||||||||
2,084,665 | ||||||||||||
CHEMICALS — 1.6% | ||||||||||||
Balchem Corp. (a) | 20,825 | 704,093 | ||||||||||
Calgon Carbon Corp. (a)(b) | 19,660 | 297,259 | ||||||||||
LSB Industries, Inc. (b) | 6,357 | 154,221 | ||||||||||
OM Group, Inc. (b) | 12,802 | 493,005 | ||||||||||
PolyOne Corp. (b) | 40,262 | 502,873 | ||||||||||
Quaker Chemical Corp. (a) | 8,260 | 344,194 | ||||||||||
STR Holdings, Inc. (a)(b) | 13,580 | 271,600 | ||||||||||
2,767,245 | ||||||||||||
COMMERCIAL BANKS — 1.9% | ||||||||||||
Bank of the Ozarks, Inc. | 5,782 | 250,650 | ||||||||||
Community Bank System, Inc. | 8,673 | 240,849 | ||||||||||
First Financial Bancorp. | 19,410 | 358,697 | ||||||||||
First Financial Bankshares, Inc. | 6,709 | 343,367 | ||||||||||
National Penn Bancshares, Inc. (a) | 28,492 | 228,791 | ||||||||||
Signature Bank (b) | 29,647 | 1,482,350 | ||||||||||
Tompkins Financial Corp. | 2,477 | 96,999 | ||||||||||
UMB Financial Corp. (a) | 8,053 | 333,555 | ||||||||||
3,335,258 | ||||||||||||
COMMERCIAL SERVICES & SUPPLIES — 1.8% | ||||||||||||
Consolidated Graphics, Inc. (b) | 7,432 | 359,932 | ||||||||||
Healthcare Services Group, Inc. | 48,205 | 784,296 | ||||||||||
Interface, Inc. (Class A) | 26,182 | 409,748 | ||||||||||
Mobile Mini, Inc. (a)(b) | 13,767 | 271,072 | ||||||||||
Sykes Enterprises, Inc. (b) | 15,420 | 312,409 | ||||||||||
Tetra Tech, Inc. (b) | 25,701 | 644,067 | ||||||||||
UniFirst Corp. | 5,574 | 306,849 | ||||||||||
3,088,373 | ||||||||||||
COMMUNICATIONS EQUIPMENT — 2.5% | ||||||||||||
Blue Coat Systems, Inc. (b) | 31,582 | 943,354 | ||||||||||
DG Fastchannel, Inc. (b) | 17,680 | 510,598 | ||||||||||
Harmonic, Inc. (b) | 31,928 | 273,623 | ||||||||||
Netgear, Inc. (b) | 26,178 | 881,675 | ||||||||||
Network Equipment Technologies, Inc. (a)(b) | 10,636 | 49,245 | ||||||||||
Oplink Communications, Inc. (b) | 14,212 | 262,496 | ||||||||||
Symmetricom, Inc. (b) | 16,105 | 114,185 | ||||||||||
Tollgrade Communications, Inc. (b) | 3,305 | 30,670 | ||||||||||
ViaSat, Inc. (b) | 30,012 | 1,332,833 | ||||||||||
4,398,679 | ||||||||||||
COMPUTERS & PERIPHERALS — 1.2% | ||||||||||||
Compellent Technologies, Inc. (b) | 16,940 | 467,375 | ||||||||||
Intevac, Inc. (b) | 6,497 | 91,023 | ||||||||||
Novatel Wireless, Inc. (b) | 23,057 | 220,194 | ||||||||||
Stratasys, Inc. (b) | 15,080 | 492,211 | ||||||||||
Super Micro Computer, Inc. (a)(b) | 10,068 | 116,185 | ||||||||||
Synaptics, Inc. (a)(b) | 24,951 | 733,060 | ||||||||||
2,120,048 | ||||||||||||
CONSTRUCTION & ENGINEERING — 0.1% | ||||||||||||
Orion Marine Group, Inc. (a)(b) | 19,581 | 227,140 | ||||||||||
CONSTRUCTION MATERIALS — 0.2% | ||||||||||||
Eagle Materials, Inc. (a) | 10,013 | 282,867 | ||||||||||
CONSUMER FINANCE — 1.8% | ||||||||||||
Cash America International, Inc. | 21,575 | 796,765 | ||||||||||
Ezcorp, Inc. (b) | 36,358 | 986,392 | ||||||||||
First Cash Financial Services, Inc. (b) | 22,138 | 686,057 | ||||||||||
World Acceptance Corp. (b) | 11,457 | 604,929 | ||||||||||
3,074,143 | ||||||||||||
DIVERSIFIED CONSUMER SERVICES — 2.2% | ||||||||||||
American Public Education, Inc. (b) | 13,108 | 488,142 | ||||||||||
Capella Education Co. (b) | 12,076 | 804,020 | ||||||||||
Coinstar, Inc. (b) | 23,113 | 1,304,498 | ||||||||||
Hillenbrand, Inc. | 20,440 | 425,356 | ||||||||||
Pre-Paid Legal Services, Inc. (b) | 7,123 | 429,161 | ||||||||||
Universal Technical Institute, Inc. (a) | 15,205 | 334,814 | ||||||||||
3,785,991 | ||||||||||||
DIVERSIFIED FINANCIAL SERVICES — 0.5% | ||||||||||||
Portfolio Recovery Associates, Inc. (b) | 12,465 | 937,368 | ||||||||||
See accompanying notes to financial statements.
54
Table of Contents
SPDR S&P 600 Small Cap Growth ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 0.7% | ||||||||||||
Atlantic Tele-Network, Inc. (a) | 6,607 | $ | 253,312 | |||||||||
Cbeyond, Inc. (a)(b) | 22,438 | 342,853 | ||||||||||
General Communication, Inc. (Class A) (b) | 16,491 | 208,776 | ||||||||||
Neutral Tandem, Inc. (b) | 24,145 | 348,654 | ||||||||||
1,153,595 | ||||||||||||
ELECTRIC UTILITIES — 0.2% | ||||||||||||
El Paso Electric Co. (b) | 13,938 | 383,713 | ||||||||||
ELECTRICAL EQUIPMENT — 1.1% | ||||||||||||
AZZ, Inc. (a) | 6,020 | 240,860 | ||||||||||
Belden CDT, Inc. | 15,788 | 581,314 | ||||||||||
II-VI, Inc. (b) | 18,572 | 860,998 | ||||||||||
Vicor Corp. (a) | 14,248 | 233,667 | ||||||||||
1,916,839 | ||||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 3.1% | ||||||||||||
Cognex Corp. | 16,327 | 480,340 | ||||||||||
Daktronics, Inc. | 11,041 | 175,773 | ||||||||||
DTS Inc. (b) | 12,542 | 615,185 | ||||||||||
Electro Scientific Industries, Inc. (b) | 6,104 | 97,847 | ||||||||||
FARO Technologies, Inc. (b) | 5,893 | 193,526 | ||||||||||
Littelfuse, Inc. | 16,207 | 762,702 | ||||||||||
LoJack Corp. (b) | 4,750 | 30,685 | ||||||||||
Mercury Computer System, Inc. (b) | 17,756 | 326,355 | ||||||||||
MTS Systems Corp. | 5,471 | 204,944 | ||||||||||
Newport Corp. (b) | 14,496 | 251,796 | ||||||||||
OSI Systems, Inc. (b) | 13,587 | 494,023 | ||||||||||
Park Electrochemical Corp. | 5,265 | 157,950 | ||||||||||
Plexus Corp. (a)(b) | 17,097 | 528,981 | ||||||||||
Pulse Electronics Corp. | 9,913 | 52,737 | ||||||||||
RadiSys Corp. (a)(b) | 7,433 | 66,154 | ||||||||||
Rofin-Sinar Technologies, Inc. (b) | 8,053 | 285,398 | ||||||||||
Rogers Corp. (b) | 3,984 | 152,388 | ||||||||||
TTM Technologies, Inc. (a)(b) | 31,521 | 469,978 | ||||||||||
5,346,762 | ||||||||||||
ENERGY EQUIPMENT & SERVICES — 3.5% | ||||||||||||
Basic Energy Services, Inc. (a)(b) | 6,530 | 107,614 | ||||||||||
CARBO Ceramics, Inc. | 13,844 | 1,433,408 | ||||||||||
ION Geophysical Corp. (b) | 54,471 | 461,914 | ||||||||||
Lufkin Industries, Inc. | 12,089 | 754,233 | ||||||||||
Oil States International, Inc. (b) | 36,949 | 2,368,062 | ||||||||||
SEACOR Holdings, Inc. | 10,425 | 1,053,863 | ||||||||||
6,179,094 | ||||||||||||
FOOD & STAPLES RETAILING — 0.6% | ||||||||||||
The Andersons, Inc. (a) | 7,123 | 258,921 | ||||||||||
United Natural Foods, Inc. (b) | 21,157 | 776,039 | ||||||||||
1,034,960 | ||||||||||||
FOOD PRODUCTS — 2.3% | ||||||||||||
Cal-Maine Foods, Inc. (a) | 6,092 | 192,385 | ||||||||||
Calavo Growers, Inc. | 8,774 | 202,241 | ||||||||||
Darling International, Inc. (b) | 60,123 | 798,433 | ||||||||||
Diamond Foods, Inc. | 9,681 | 514,836 | ||||||||||
Hain Celestial Group, Inc. (b) | 12,182 | 329,645 | ||||||||||
J&J Snack Foods Corp. | 6,104 | 294,457 | ||||||||||
Snyders-Lance, Inc. | 17,138 | 401,715 | ||||||||||
TreeHouse Foods, Inc. (a)(b) | 25,844 | 1,320,370 | ||||||||||
4,054,082 | ||||||||||||
GAS UTILITIES — 0.8% | ||||||||||||
Northwest Natural Gas Co. | 7,019 | 326,173 | ||||||||||
Piedmont Natural Gas Co., Inc. | 18,993 | 531,044 | ||||||||||
South Jersey Industries, Inc. (a) | 9,393 | 496,138 | ||||||||||
1,353,355 | ||||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 5.9% | ||||||||||||
Abaxis, Inc. (a)(b) | 16,262 | 436,635 | ||||||||||
Align Technology, Inc. (a)(b) | 49,536 | 967,933 | ||||||||||
American Medical Systems Holdings, Inc. (b) | 55,870 | 1,053,708 | ||||||||||
Analogic Corp. | 5,470 | 270,820 | ||||||||||
Cantel Medical Corp. | 6,391 | 149,549 | ||||||||||
CryoLife, Inc. (b) | 8,118 | 44,000 | ||||||||||
Cyberonics, Inc. (a)(b) | 17,625 | 546,727 | ||||||||||
Greatbatch, Inc. (a)(b) | 9,629 | 232,540 | ||||||||||
Haemonetics Corp. (b) | 18,109 | 1,144,127 | ||||||||||
ICU Medical, Inc. (b) | 4,218 | 153,957 | ||||||||||
Integra LifeSciences Holdings Corp. (b) | 14,867 | 703,209 | ||||||||||
Kensey Nash Corp. (a)(b) | 6,171 | 171,739 | ||||||||||
Meridian Bioscience, Inc. | 17,237 | 399,209 | ||||||||||
Merit Medical Systems, Inc. (b) | 12,186 | 192,904 | ||||||||||
Natus Medical, Inc. (b) | 12,233 | 173,464 | ||||||||||
Neogen Corp. (b) | 16,537 | 678,513 | ||||||||||
Palomar Medical Technologies, Inc. (b) | 3,963 | 56,314 | ||||||||||
SurModics, Inc. (b) | 6,953 | 82,532 | ||||||||||
The Cooper Cos., Inc. | 33,343 | 1,878,545 | ||||||||||
West Pharmaceutical Services, Inc. (a) | 10,490 | 432,188 | ||||||||||
Zoll Medical Corp. (b) | 15,681 | 583,804 | ||||||||||
10,352,417 | ||||||||||||
HEALTH CARE PROVIDERS & SERVICES — 6.0% | ||||||||||||
Air Methods Corp. (a)(b) | 8,192 | 460,964 | ||||||||||
Almost Family, Inc. (a)(b) | 6,030 | 231,673 | ||||||||||
AMERIGROUP Corp. (a)(b) | 22,096 | 970,456 | ||||||||||
Bio-Reference Laboratories, Inc. (b) | 17,886 | 396,711 | ||||||||||
Catalyst Health Solutions, Inc. (b) | 28,587 | 1,329,010 | ||||||||||
Chemed Corp. | 16,663 | 1,058,267 | ||||||||||
Corvel Corp. (b) | 4,804 | 232,273 | ||||||||||
Genoptix, Inc. (b) | 12,853 | 244,464 | ||||||||||
Healthspring, Inc. (b) | 41,752 | 1,107,681 | ||||||||||
HMS Holdings Corp. (b) | 20,115 | 1,302,849 | ||||||||||
IPC The Hospitalist Co. (b) | 11,834 | 461,644 | ||||||||||
Landauer, Inc. (a) | 6,915 | 414,693 | ||||||||||
LCA-Vision, Inc. (b) | 4,854 | 27,911 | ||||||||||
LHC Group, Inc. (a)(b) | 7,504 | 225,120 | ||||||||||
Magellan Health Services, Inc. (b) | 15,898 | 751,657 | ||||||||||
MWI Veterinary Supply, Inc. (b) | 9,069 | 572,707 | ||||||||||
PSS World Medical, Inc. (a)(b) | 21,723 | 490,940 | ||||||||||
The Ensign Group, Inc. (a) | 9,523 | 236,837 | ||||||||||
10,515,857 | ||||||||||||
HEALTH CARE TECHNOLOGY — 0.3% | ||||||||||||
Computer Programs and Systems, Inc. | 7,969 | 373,268 |
See accompanying notes to financial statements.
55
Table of Contents
SPDR S&P 600 Small Cap Growth ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Omnicell, Inc. (b) | 11,986 | $ | 173,198 | |||||||||
546,466 | ||||||||||||
HOTELS, RESTAURANTS & LEISURE — 4.2% | ||||||||||||
Biglari Holdings, Inc. (a)(b) | 1,033 | 423,747 | ||||||||||
BJ’s Restaurants, Inc. (a)(b) | 16,455 | 583,001 | ||||||||||
Buffalo Wild Wings, Inc. (b) | 13,317 | 583,950 | ||||||||||
California Pizza Kitchen, Inc. (b) | 17,885 | 309,053 | ||||||||||
CEC Entertainment, Inc. (b) | 14,989 | 582,023 | ||||||||||
Cracker Barrel Old Country Store, Inc. (a) | 17,033 | 932,897 | ||||||||||
DineEquity, Inc. (b) | 11,350 | 560,463 | ||||||||||
Interval Leisure Group, Inc. (b) | 29,551 | 476,953 | ||||||||||
Monarch Casino & Resort, Inc. (b) | 2,893 | 36,163 | ||||||||||
P F Chang’s China Bistro, Inc. | 16,767 | 812,529 | ||||||||||
Papa John’s International, Inc. (a)(b) | 8,005 | 221,738 | ||||||||||
Peet’s Coffee & Tea, Inc. (b) | 9,318 | 388,933 | ||||||||||
Pinnacle Entertainment, Inc. (a)(b) | 19,725 | 276,544 | ||||||||||
Shuffle Master, Inc. (b) | 21,513 | 246,324 | ||||||||||
Sonic Corp. (b) | 17,005 | 172,091 | ||||||||||
Texas Roadhouse, Inc. (Class A) (a)(b) | 42,395 | 727,922 | ||||||||||
7,334,331 | ||||||||||||
HOUSEHOLD DURABLES — 0.6% | ||||||||||||
Kid Brands, Inc. (b) | 15,692 | 134,167 | ||||||||||
National Presto Industries, Inc. | 3,818 | 496,378 | ||||||||||
Skyline Corp. (a) | 1,550 | 40,424 | ||||||||||
Universal Electronics, Inc. (b) | 10,851 | 307,843 | ||||||||||
978,812 | ||||||||||||
HOUSEHOLD PRODUCTS — 0.1% | ||||||||||||
WD-40 Co. | 6,606 | 266,090 | ||||||||||
INSURANCE — 0.5% | ||||||||||||
eHealth, Inc. (a)(b) | 16,152 | 229,197 | ||||||||||
National Financial Partners Corp. (b) | 14,659 | 196,431 | ||||||||||
Tower Group, Inc. | 17,544 | 448,775 | ||||||||||
874,403 | ||||||||||||
INTERNET & CATALOG RETAIL — 1.1% | ||||||||||||
Blue Nile, Inc. (a)(b) | 10,485 | 598,274 | ||||||||||
HSN, Inc. (a)(b) | 28,224 | 864,783 | ||||||||||
NutriSystem, Inc. (a) | 9,576 | 201,383 | ||||||||||
PetMed Express, Inc. | 16,549 | 294,738 | ||||||||||
Vitacost.com, Inc. (a)(b)(c) | 4,573 | 0 | ||||||||||
1,959,178 | ||||||||||||
INTERNET SOFTWARE & SERVICES — 1.8% | ||||||||||||
comScore, Inc. (b) | 18,549 | 413,828 | ||||||||||
DealerTrack Holdings, Inc. (b) | 18,038 | 362,023 | ||||||||||
j2 Global Communications, Inc. (a)(b) | 33,351 | 965,512 | ||||||||||
Liquidity Services, Inc. (a)(b) | 12,488 | 175,456 | ||||||||||
LogMeIn, Inc. (a)(b) | 6,456 | 286,259 | ||||||||||
Perficient, Inc. (b) | 21,666 | 270,825 | ||||||||||
RightNow Technologies, Inc. (a)(b) | 17,167 | 406,343 | ||||||||||
Stamps.com, Inc. | 8,608 | 114,056 | ||||||||||
The Knot, Inc. (b) | 9,792 | 96,745 | ||||||||||
3,091,047 | ||||||||||||
IT SERVICES — 2.2% | ||||||||||||
CSG Systems International, Inc. (b) | 24,878 | 471,189 | ||||||||||
Forrester Research, Inc. (a) | 10,607 | 374,321 | ||||||||||
iGate Corp. | 21,163 | 417,123 | ||||||||||
Integral Systems Inc. (b) | 5,800 | 57,478 | ||||||||||
MAXIMUS, Inc. (a) | 12,593 | 825,849 | ||||||||||
NCI, Inc. (Class A) (b) | 3,517 | 80,856 | ||||||||||
TeleTech Holdings, Inc. (b) | 13,916 | 286,530 | ||||||||||
Wright Express Corp. (b) | 27,987 | 1,287,402 | ||||||||||
3,800,748 | ||||||||||||
LEISURE EQUIPMENT & PRODUCTS — 0.6% | ||||||||||||
Brunswick Corp. | 32,344 | 606,126 | ||||||||||
JAKKS Pacific, Inc. (b) | 7,640 | 139,201 | ||||||||||
RC2 Corp. (b) | 6,298 | 137,107 | ||||||||||
Sturm Ruger & Co, Inc. | 13,730 | 209,932 | ||||||||||
1,092,366 | ||||||||||||
LIFE SCIENCES TOOLS & SERVICES — 1.5% | ||||||||||||
Dionex Corp. (b) | 12,708 | 1,499,671 | ||||||||||
Enzo Biochem, Inc. (a)(b) | 24,862 | 131,271 | ||||||||||
eResearch Technology, Inc. (a)(b) | 14,710 | 108,119 | ||||||||||
PAREXEL International Corp. (a)(b) | 42,429 | 900,768 | ||||||||||
2,639,829 | ||||||||||||
MACHINERY — 2.6% | ||||||||||||
Badger Meter, Inc. | 5,994 | 265,055 | ||||||||||
Cascade Corp. | 2,374 | 112,243 | ||||||||||
CIRCOR International, Inc. | 5,874 | 248,353 | ||||||||||
CLARCOR, Inc. | 17,668 | 757,780 | ||||||||||
EnPro Industries, Inc. (b) | 15,070 | 626,309 | ||||||||||
ESCO Technologies, Inc. | 8,490 | 321,262 | ||||||||||
John Bean Technologies Corp. | 11,510 | 231,696 | ||||||||||
Kaydon Corp. | 8,567 | 348,848 | ||||||||||
Lindsay Corp. (a) | 9,154 | 544,022 | ||||||||||
Robbins & Myers, Inc. | 9,601 | 343,524 | ||||||||||
The Toro Co. | 13,007 | 801,751 | ||||||||||
4,600,843 | ||||||||||||
MEDIA — 0.5% | ||||||||||||
Arbitron, Inc. (a) | 19,715 | 818,567 | ||||||||||
The E.W. Scripps Co. (Class A) (a)(b) | 8,673 | 88,031 | ||||||||||
906,598 | ||||||||||||
METALS & MINING — 0.6% | ||||||||||||
AMCOL International Corp. (a) | 8,776 | 272,056 | ||||||||||
Brush Engineered Materials, Inc. (b) | 9,613 | 371,446 | ||||||||||
Century Aluminum Co. (a)(b) | 15,278 | 237,267 | ||||||||||
Contango ORE, Inc. (a)(b) | 240 | 2,520 | ||||||||||
RTI International Metals, Inc. (b) | 7,913 | 213,493 | ||||||||||
1,096,782 | ||||||||||||
OIL, GAS & CONSUMABLE FUELS — 1.3% | ||||||||||||
Contango Oil & Gas Co. (b) | 9,388 | 543,847 | ||||||||||
Gulfport Energy Corp. (b) | 23,130 | 500,765 | ||||||||||
Petroleum Development Corp. (b) | 5,835 | 246,295 | ||||||||||
Petroquest Energy, Inc. (b) | 17,353 | 130,668 |
See accompanying notes to financial statements.
56
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SPDR S&P 600 Small Cap Growth ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Stone Energy Corp. (b) | 20,132 | $ | 448,742 | |||||||||
Swift Energy Co. (b) | 10,976 | 429,710 | ||||||||||
2,300,027 | ||||||||||||
PAPER & FOREST PRODUCTS — 1.2% | ||||||||||||
Buckeye Technologies, Inc. | 28,802 | 605,130 | ||||||||||
Deltic Timber Corp. (a) | 3,332 | 187,725 | ||||||||||
KapStone Paper and Packaging Corp. (b) | 27,872 | 426,442 | ||||||||||
Schweitzer-Mauduit International, Inc. (a) | 13,211 | 831,236 | ||||||||||
2,050,533 | ||||||||||||
PERSONAL PRODUCTS — 0.2% | ||||||||||||
Medifast, Inc. (b) | 9,817 | 283,515 | ||||||||||
PHARMACEUTICALS — 2.4% | ||||||||||||
Cypress Bioscience, Inc. (b) | 6,776 | 43,909 | ||||||||||
Hi-Tech Pharmacal Co., Inc. (b) | 7,372 | 183,931 | ||||||||||
Par Pharmaceutical Cos., Inc. (b) | 26,013 | 1,001,761 | ||||||||||
Salix Pharmaceuticals, Ltd. (a)(b) | 42,400 | 1,991,104 | ||||||||||
ViroPharma, Inc. (b) | 56,969 | 986,703 | ||||||||||
4,207,408 | ||||||||||||
PROFESSIONAL SERVICES — 0.7% | ||||||||||||
Administaff, Inc. | 8,159 | 239,059 | ||||||||||
Dolan Media Co. | 22,221 | 309,316 | ||||||||||
Exponent, Inc. (b) | 10,151 | 380,967 | ||||||||||
TrueBlue, Inc. (b) | 13,519 | 243,207 | ||||||||||
1,172,549 | ||||||||||||
REAL ESTATE INVESTMENT TRUSTS — 7.6% | ||||||||||||
Acadia Realty Trust | 17,342 | 316,318 | ||||||||||
BioMed Realty Trust, Inc. | 45,004 | 839,325 | ||||||||||
Colonial Properties Trust | 24,467 | 441,629 | ||||||||||
DiamondRock Hospitality Co. (b) | 50,688 | 608,256 | ||||||||||
EastGroup Properties, Inc. | 11,251 | 476,142 | ||||||||||
Entertainment Properties Trust | 16,621 | 768,721 | ||||||||||
Extra Space Storage, Inc. | 33,201 | 577,697 | ||||||||||
Healthcare Realty Trust, Inc. | 16,929 | 358,387 | ||||||||||
Home Properties, Inc. | 15,998 | 887,729 | ||||||||||
Inland Real Estate Corp. | 18,171 | 159,905 | ||||||||||
Kilroy Realty Corp. (a) | 16,414 | 598,619 | ||||||||||
LaSalle Hotel Properties | 19,669 | 519,262 | ||||||||||
Lexington Realty Trust (a) | 37,240 | 296,058 | ||||||||||
LTC Properties, Inc. | 9,499 | 266,732 | ||||||||||
Medical Properties Trust, Inc. | 50,275 | 544,478 | ||||||||||
Mid-America Apartment Communities, Inc. | 14,781 | 938,446 | ||||||||||
National Retail Properties, Inc. | 37,163 | 984,820 | ||||||||||
Pennsylvania Real Estate Investment Trust | 19,307 | 280,531 | ||||||||||
Post Properties, Inc. | 16,001 | 580,836 | ||||||||||
PS Business Parks, Inc. | 7,018 | 391,043 | ||||||||||
Saul Centers, Inc. | 5,057 | 239,449 | ||||||||||
Sovran Self Storage, Inc. | 7,846 | 288,811 | ||||||||||
Tanger Factory Outlet Centers, Inc. | 29,618 | 1,516,145 | ||||||||||
Universal Health Realty Income Trust | 4,128 | 150,796 | ||||||||||
Urstadt Biddle Properties (Class A) | 8,569 | 166,667 | ||||||||||
13,196,802 | ||||||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 0.2% | ||||||||||||
Forestar Real Estate Group, Inc. (b) | 15,693 | 302,875 | ||||||||||
ROAD & RAIL — 0.7% | ||||||||||||
Heartland Express, Inc. (a) | 15,942 | 255,391 | ||||||||||
Knight Transportation, Inc. (a) | 22,143 | 420,717 | ||||||||||
Old Dominion Freight Line, Inc. (b) | 15,891 | 508,353 | ||||||||||
1,184,461 | ||||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 8.5% | ||||||||||||
Advanced Energy Industries, Inc. (b) | 10,129 | 138,160 | ||||||||||
ATMI, Inc. (b) | 8,196 | 163,428 | ||||||||||
Cabot Microelectronics Corp. (b) | 11,181 | 463,452 | ||||||||||
CEVA, Inc. (b) | 15,984 | 327,672 | ||||||||||
Cohu, Inc. | 5,369 | 89,018 | ||||||||||
Cymer, Inc. (b) | 8,877 | 400,086 | ||||||||||
Cypress Semiconductor Corp. (b) | 121,255 | 2,252,918 | ||||||||||
Diodes, Inc. (b) | 26,266 | 708,919 | ||||||||||
Exar Corp. (b) | 18,657 | 130,226 | ||||||||||
FEI Co. (b) | 11,658 | 307,888 | ||||||||||
Hittite Microwave Corp. (b) | 17,973 | 1,097,072 | ||||||||||
Kopin Corp. (a)(b) | 47,230 | 196,477 | ||||||||||
Kulicke & Soffa Industries, Inc. (b) | 51,308 | 369,418 | ||||||||||
Micrel, Inc. | 36,234 | 470,680 | ||||||||||
Microsemi Corp. (b) | 29,913 | 685,008 | ||||||||||
MKS Instruments, Inc. (b) | 13,525 | 331,227 | ||||||||||
Monolithic Power Systems, Inc. (a)(b) | 26,087 | 430,957 | ||||||||||
Pericom Semiconductor Corp. (b) | 10,463 | 114,884 | ||||||||||
Power Integrations, Inc. (a) | 20,382 | 818,133 | ||||||||||
Rudolph Technologies, Inc. (b) | 9,402 | 77,378 | ||||||||||
Sigma Designs, Inc. (a)(b) | 13,306 | 188,546 | ||||||||||
Standard Microsystems Corp. (b) | 6,897 | 198,840 | ||||||||||
Supertex, Inc. (b) | 3,453 | 83,494 | ||||||||||
Tessera Technologies, Inc. (b) | 21,676 | 480,123 | ||||||||||
TriQuint Semiconductor, Inc. (b) | 116,265 | 1,359,138 | ||||||||||
Ultratech, Inc. (b) | 8,493 | 168,841 | ||||||||||
Varian Semiconductor Equipment Associates, Inc. (b) | 27,000 | 998,190 | ||||||||||
Veeco Instruments, Inc. (a)(b) | 29,211 | 1,254,905 | ||||||||||
Volterra Semiconductor Corp. (a)(b) | 19,600 | 453,936 | ||||||||||
14,759,014 | ||||||||||||
SOFTWARE — 7.2% | ||||||||||||
Blackbaud, Inc. | 32,075 | 830,743 | ||||||||||
Bottomline Technologies, Inc. (a)(b) | 23,574 | 511,792 | ||||||||||
Commvault Systems, Inc. (a)(b) | 31,436 | 899,698 | ||||||||||
Ebix, Inc. (a)(b) | 25,423 | 601,762 | ||||||||||
Epicor Software Corp. (b) | 19,900 | 200,990 | ||||||||||
Interactive Intelligence, Inc. (b) | 9,722 | 254,328 | ||||||||||
JDA Software Group, Inc. (b) | 31,999 | 895,972 | ||||||||||
Manhattan Associates, Inc. (b) | 15,961 | 487,449 | ||||||||||
MicroStrategy, Inc. (b) | 6,190 | 529,059 | ||||||||||
Netscout Systems, Inc. (b) | 25,497 | 586,686 | ||||||||||
Progress Software Corp. (b) | 31,651 | 1,339,470 | ||||||||||
Quality Systems, Inc. | 13,998 | 977,340 | ||||||||||
Radiant Systems, Inc. (b) | 24,125 | 472,126 | ||||||||||
Smith Micro Software, Inc. (b) | 21,993 | 346,170 |
See accompanying notes to financial statements.
57
Table of Contents
SPDR S&P 600 Small Cap Growth ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Sonic Solutions (a)(b) | 35,516 | $ | 532,740 | |||||||||
Sourcefire, Inc. (b) | 20,423 | 529,568 | ||||||||||
Synchronoss Technologies, Inc. (a)(b) | 17,463 | 466,437 | ||||||||||
Take-Two Interactive Software, Inc. (a)(b) | 27,873 | 341,166 | ||||||||||
Taleo Corp. (Class A) (a)(b) | 29,534 | 816,615 | ||||||||||
Tyler Technologies, Inc. (a)(b) | 18,338 | 380,697 | ||||||||||
Websense, Inc. (a)(b) | 30,509 | 617,807 | ||||||||||
12,618,615 | ||||||||||||
SPECIALTY RETAIL — 4.7% | ||||||||||||
Big 5 Sporting Goods Corp. | 8,364 | 127,718 | ||||||||||
Cabela’s, Inc. (a)(b) | 29,210 | 635,317 | ||||||||||
Genesco, Inc. (b) | 10,013 | 375,387 | ||||||||||
Hibbett Sports, Inc. (b) | 20,383 | 752,133 | ||||||||||
Jo-Ann Stores, Inc. (b) | 19,201 | 1,156,284 | ||||||||||
Jos. A. Bank Clothiers, Inc. (a)(b) | 20,215 | 815,069 | ||||||||||
Kirkland’s, Inc. (a)(b) | 11,459 | 160,770 | ||||||||||
Lumber Liquidators Holdings, Inc. (a)(b) | 17,037 | 424,392 | ||||||||||
Monro Muffler Brake, Inc. | 22,121 | 765,148 | ||||||||||
The Buckle, Inc. (a) | 19,096 | 721,256 | ||||||||||
The Cato Corp. (Class A) | 13,317 | 365,019 | ||||||||||
The Children’s Place Retail Stores, Inc. (b) | 8,773 | 435,492 | ||||||||||
The Finish Line, Inc. (Class A) (a) | 26,428 | 454,297 | ||||||||||
The Men’s Wearhouse, Inc. (a) | 21,162 | 528,627 | ||||||||||
Zumiez, Inc. (a)(b) | 15,205 | 408,558 | ||||||||||
8,125,467 | ||||||||||||
TEXTILES, APPAREL & LUXURY GOODS — 3.5% | ||||||||||||
Carter’s, Inc. (b) | 42,033 | 1,240,394 | ||||||||||
Crocs, Inc. (b) | 63,820 | 1,092,598 | ||||||||||
Iconix Brand Group, Inc. (b) | 53,071 | 1,024,801 | ||||||||||
Liz Claiborne, Inc. (a)(b) | 22,712 | 162,618 | ||||||||||
Maidenform Brands, Inc. (b) | 17,033 | 404,874 | ||||||||||
Oxford Industries, Inc. (a) | 5,368 | 137,475 | ||||||||||
Perry Ellis International, Inc. (b) | 4,028 | 110,649 | ||||||||||
Steven Madden, Ltd. (b) | 16,826 | 701,981 | ||||||||||
True Religion Apparel, Inc. (a)(b) | 18,516 | 412,166 | ||||||||||
Volcom, Inc. (a) | 12,405 | 234,082 | ||||||||||
Wolverine World Wide, Inc. | 20,335 | 648,280 | ||||||||||
6,169,918 | ||||||||||||
THRIFTS & MORTGAGE FINANCE — 0.2% | ||||||||||||
Dime Community Bancshares | 8,878 | 129,530 | ||||||||||
Provident Financial Services, Inc. (a) | 12,491 | 188,989 | ||||||||||
318,519 | ||||||||||||
WATER UTILITIES — 0.1% | ||||||||||||
American States Water Co. | 7,225 | 249,046 | ||||||||||
WIRELESS TELECOMMUNICATION SERVICES — 0.2% | ||||||||||||
NTELOS Holdings Corp. (a) | 11,872 | 226,162 | ||||||||||
USA Mobility, Inc. | 6,296 | 111,880 | ||||||||||
338,042 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $177,022,451) | 173,910,501 | |||||||||||
SHORT TERM INVESTMENTS — 12.8% | ||||||||||||
MONEY MARKET FUNDS — 12.8% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 21,802,253 | 21,802,253 | ||||||||||
State Street Institutional Liquid Reserves Fund 0.18% (e)(f) | 590,869 | 590,869 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $22,393,122) | 22,393,122 | |||||||||||
TOTAL INVESTMENTS — 112.5% (g) | ||||||||||||
(Cost $199,415,573) | 196,303,623 | |||||||||||
OTHER ASSETS & LIABILITIES — (12.5)% | (21,745,280 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 174,558,343 | ||||||||||
(a) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(b) | Non-income producing security. | |||||
(c) | Security is valued at fair value as determined in good faith by the Trust’s Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. Security value is determined based on Level 2 inputs. (Note 2) | |||||
(d) | Investments of cash collateral for securities loaned. | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
58
Table of Contents
SPDR S&P 600 Small Cap Value ETF
SCHEDULE OF INVESTMENTS
SCHEDULE OF INVESTMENTS
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
COMMON STOCKS — 99.8% | ||||||||||||
AEROSPACE & DEFENSE — 4.1% | ||||||||||||
AAR Corp. (a) | 21,600 | $ | 593,352 | |||||||||
Aerovironment, Inc. (a)(b) | 4,400 | 118,052 | ||||||||||
Ceradyne, Inc. (a) | 13,682 | 431,393 | ||||||||||
Cubic Corp. | 3,081 | 145,269 | ||||||||||
Curtiss-Wright Corp. | 25,190 | 836,308 | ||||||||||
Esterline Technologies Corp. (a) | 16,493 | 1,131,255 | ||||||||||
GenCorp, Inc. (a) | 32,400 | 167,508 | ||||||||||
Moog, Inc. (Class A) (a) | 24,800 | 987,040 | ||||||||||
Orbital Sciences Corp. (a) | 15,000 | 256,950 | ||||||||||
Teledyne Technologies, Inc. (a) | 19,900 | 875,003 | ||||||||||
5,542,130 | ||||||||||||
AIR FREIGHT & LOGISTICS — 0.5% | ||||||||||||
Forward Air Corp. | 6,700 | 190,146 | ||||||||||
HUB Group, Inc. (Class A) (a) | 12,100 | 425,194 | ||||||||||
615,340 | ||||||||||||
AIRLINES — 0.4% | ||||||||||||
SkyWest, Inc. | 30,297 | 473,239 | ||||||||||
AUTO COMPONENTS — 0.5% | ||||||||||||
Drew Industries, Inc. (b) | 10,500 | 238,560 | ||||||||||
Spartan Motors, Inc. | 17,900 | 109,011 | ||||||||||
Standard Motor Products, Inc. | 10,700 | 146,590 | ||||||||||
Superior Industries International, Inc. | 8,175 | 173,473 | ||||||||||
667,634 | ||||||||||||
AUTOMOBILES — 0.2% | ||||||||||||
Winnebago Industries, Inc. (a)(b) | 15,997 | 243,154 | ||||||||||
BIOTECHNOLOGY — 0.6% | ||||||||||||
Emergent Biosolutions, Inc. (a)(b) | 4,900 | 114,954 | ||||||||||
Martek Biosciences Corp. (a) | 18,400 | 575,920 | ||||||||||
Savient Pharmaceuticals, Inc. (a)(b) | 14,248 | 158,723 | ||||||||||
849,597 | ||||||||||||
BUILDING PRODUCTS — 2.0% | ||||||||||||
A.O. Smith Corp. | 7,927 | 301,860 | ||||||||||
AAON, Inc. (b) | 2,600 | 73,346 | ||||||||||
Apogee Enterprises, Inc. | 15,439 | 207,964 | ||||||||||
Gibraltar Industries, Inc. (a) | 16,711 | 226,768 | ||||||||||
Griffon Corp. (a) | 25,595 | 326,080 | ||||||||||
NCI Building Systems, Inc. (a) | 6,900 | 96,531 | ||||||||||
Quanex Building Products Corp. | 20,698 | 392,641 | ||||||||||
Simpson Manufacturing Co., Inc. | 21,723 | 671,458 | ||||||||||
Universal Forest Products, Inc. | 10,603 | 412,457 | ||||||||||
2,709,105 | ||||||||||||
CAPITAL MARKETS — 0.7% | ||||||||||||
Investment Technology Group, Inc. (a) | 22,991 | 376,363 | ||||||||||
LaBranche & Cos., Inc. (a) | 19,797 | 71,269 | ||||||||||
Piper Jaffray Co., Inc. (a) | 8,754 | 306,478 | ||||||||||
SWS Group, Inc. | 16,044 | 81,022 | ||||||||||
TradeStation Group, Inc. (a) | 22,000 | 148,500 | ||||||||||
983,632 | ||||||||||||
CHEMICALS — 2.5% | ||||||||||||
A. Schulman, Inc. | 17,304 | 396,088 | ||||||||||
American Vanguard Corp. (b) | 11,800 | 100,772 | ||||||||||
Arch Chemicals, Inc. | 13,669 | 518,465 | ||||||||||
Calgon Carbon Corp. (a)(b) | 16,100 | 243,432 | ||||||||||
H.B. Fuller Co. | 26,927 | 552,542 | ||||||||||
LSB Industries, Inc. (a) | 4,100 | 99,466 | ||||||||||
OM Group, Inc. (a) | 7,281 | 280,391 | ||||||||||
Penford Corp. (a) | 6,200 | 37,882 | ||||||||||
PolyOne Corp. (a) | 21,100 | 263,539 | ||||||||||
Stepan Co. | 4,184 | 319,114 | ||||||||||
STR Holdings, Inc. (a)(b) | 12,500 | 250,000 | ||||||||||
Zep, Inc. | 12,010 | 238,759 | ||||||||||
3,300,450 | ||||||||||||
COMMERCIAL BANKS — 9.8% | ||||||||||||
Bank of the Ozarks, Inc. | 2,748 | 119,126 | ||||||||||
Boston Private Financial Holdings, Inc. (b) | 42,086 | 275,663 | ||||||||||
City Holding Co. | 8,480 | 307,230 | ||||||||||
Columbia Banking System, Inc. (b) | 21,642 | 455,780 | ||||||||||
Community Bank System, Inc. | 11,667 | 323,993 | ||||||||||
First BanCorp- Puerto Rico (a)(b) | 175,712 | 80,828 | ||||||||||
First Commonwealth Financial Corp. | 51,836 | 366,999 | ||||||||||
First Financial Bancorp. | 17,203 | 317,911 | ||||||||||
First Financial Bankshares, Inc. | 6,398 | 327,450 | ||||||||||
First Midwest Bancorp, Inc. | 40,711 | 468,991 | ||||||||||
Glacier Bancorp, Inc. (b) | 39,281 | 593,536 | ||||||||||
Hancock Holding Co. (b) | 16,157 | 563,233 | ||||||||||
Hanmi Financial Corp. (a) | 83,100 | 95,565 | ||||||||||
Home Bancshares, Inc. | 11,997 | 264,294 | ||||||||||
Independent Bank Corp.- Massachusetts | 11,505 | 311,210 | ||||||||||
MB Financial, Inc. | — | 0 | ||||||||||
Nara Bancorp, Inc. (a) | 20,900 | 205,238 | ||||||||||
National Penn Bancshares, Inc. (b) | 47,880 | 384,476 | ||||||||||
NBT Bancorp, Inc. | 18,963 | 457,956 | ||||||||||
Old National Bancorp | 51,982 | 618,066 | ||||||||||
Pinnacle Financial Partners, Inc. (a) | 18,500 | 251,230 | ||||||||||
PrivateBancorp, Inc. | 32,200 | 463,036 | ||||||||||
S&T Bancorp, Inc. | 13,661 | 308,602 | ||||||||||
Simmons First National Corp. (b) | 9,467 | 269,809 | ||||||||||
Sterling Bancorp | 14,777 | 154,715 | ||||||||||
Sterling Bancshares, Inc. | 56,084 | 393,710 | ||||||||||
Susquehanna Bancshares, Inc. | 71,368 | 690,842 | ||||||||||
Texas Capital Bancshares, Inc. (a)(b) | 20,200 | 429,654 | ||||||||||
Tompkins Financial Corp. | 2,671 | 104,596 | ||||||||||
UMB Financial Corp. (b) | 10,318 | 427,372 | ||||||||||
Umpqua Holdings Corp. (b) | 62,953 | 766,768 | ||||||||||
United Bankshares, Inc. (b) | 20,919 | 610,835 | ||||||||||
United Community Banks, Inc. (a)(b) | 51,999 | 101,398 | ||||||||||
Whitney Holding Corp. (b) | 53,173 | 752,398 | ||||||||||
Wilmington Trust Corp. (b) | 50,261 | 218,133 | ||||||||||
Wilshire Bancorp, Inc. | 10,746 | 81,885 | ||||||||||
Wintrust Financial Corp. | 18,870 | 623,276 | ||||||||||
13,185,804 | ||||||||||||
COMMERCIAL SERVICES & SUPPLIES — 3.1% | ||||||||||||
ABM Industries, Inc. | 25,815 | 678,935 | ||||||||||
G & K Services, Inc. (Class A) | 10,298 | 318,311 |
See accompanying notes to financial statements.
59
Table of Contents
SPDR S&P 600 Small Cap Value ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Interface, Inc. (Class A) | 15,600 | $ | 244,140 | |||||||||
Mobile Mini, Inc. (a)(b) | 9,600 | 189,024 | ||||||||||
Sykes Enterprises, Inc. (a) | 10,800 | 218,808 | ||||||||||
Tetra Tech, Inc. (a) | 14,600 | 365,876 | ||||||||||
The Geo Group, Inc. (a) | 35,400 | 872,964 | ||||||||||
The Standard Register Co. (b) | 7,000 | 23,870 | ||||||||||
UniFirst Corp. | 3,827 | 210,676 | ||||||||||
United Stationers, Inc. (a) | 12,641 | 806,622 | ||||||||||
Viad Corp. | 11,139 | 283,710 | ||||||||||
4,212,936 | ||||||||||||
COMMUNICATIONS EQUIPMENT — 2.2% | ||||||||||||
Arris Group, Inc. (a) | 67,900 | 761,838 | ||||||||||
Bel Fuse, Inc. (Class B) | 6,450 | 154,155 | ||||||||||
Black Box Corp. | 9,735 | 372,753 | ||||||||||
Comtech Telecommunications Corp. | 15,200 | 421,496 | ||||||||||
Digi International, Inc. (a)(b) | 13,800 | 153,180 | ||||||||||
EMS Technologies, Inc. (a) | 8,395 | 166,053 | ||||||||||
Harmonic, Inc. (a) | 29,500 | 252,815 | ||||||||||
Network Equipment Technologies, Inc. (a)(b) | 8,400 | 38,892 | ||||||||||
PC-Tel, Inc. (a) | 10,200 | 61,200 | ||||||||||
Symmetricom, Inc. (a) | 11,638 | 82,514 | ||||||||||
Tekelec (a) | 37,700 | 449,007 | ||||||||||
Tollgrade Communications, Inc. (a) | 3,200 | 29,696 | ||||||||||
2,943,599 | ||||||||||||
COMPUTERS & PERIPHERALS — 0.6% | ||||||||||||
Avid Technology, Inc. (a)(b) | 15,938 | 278,277 | ||||||||||
Hutchinson Technology, Inc. (a) | 12,900 | 47,859 | ||||||||||
Intermec, Inc. (a) | 26,500 | 335,490 | ||||||||||
Intevac, Inc. (a) | 7,400 | 103,674 | ||||||||||
Super Micro Computer, Inc. (a) | 6,200 | 71,548 | ||||||||||
836,848 | ||||||||||||
CONSTRUCTION & ENGINEERING — 1.6% | ||||||||||||
Comfort Systems USA, Inc. | 20,787 | 273,765 | ||||||||||
Dycom Industries, Inc. (a) | 19,355 | 285,486 | ||||||||||
EMCOR Group, Inc. (a) | 36,500 | 1,057,770 | ||||||||||
Insituform Technologies, Inc. (Class A) (a) | 21,400 | 567,314 | ||||||||||
2,184,335 | ||||||||||||
CONSTRUCTION MATERIALS — 1.0% | ||||||||||||
Eagle Materials, Inc. (b) | 16,592 | 468,724 | ||||||||||
Headwaters, Inc. (a) | 33,300 | 152,514 | ||||||||||
Texas Industries, Inc. (b) | 15,274 | 699,244 | ||||||||||
1,320,482 | ||||||||||||
CONTAINERS & PACKAGING — 0.1% | ||||||||||||
Myers Industries, Inc. | 19,416 | 189,112 | ||||||||||
DISTRIBUTORS — 0.1% | ||||||||||||
Audiovox Corp. (Class A) (a) | 10,200 | 88,026 | ||||||||||
DIVERSIFIED CONSUMER SERVICES — 0.5% | ||||||||||||
Corinthian Colleges, Inc. (a)(b) | 46,400 | 241,744 | ||||||||||
Hillenbrand, Inc. | 18,856 | 392,393 | ||||||||||
634,137 | ||||||||||||
DIVERSIFIED FINANCIAL SERVICES — 0.3% | ||||||||||||
Interactive Brokers Group, Inc. (Class A) | 23,200 | 413,424 | ||||||||||
DIVERSIFIED TELECOMMUNICATION SERVICES — 0.1% | ||||||||||||
General Communication, Inc. (Class A) (a) | 9,000 | 113,940 | ||||||||||
ELECTRIC UTILITIES — 2.0% | ||||||||||||
ALLETE, Inc. | 17,044 | 635,060 | ||||||||||
Central Vermont Public Service Corp. | 7,250 | 158,485 | ||||||||||
El Paso Electric Co. (a) | 12,900 | 355,137 | ||||||||||
UIL Holdings Corp. (b) | 27,551 | 825,428 | ||||||||||
Unisource Energy Corp. (b) | 19,961 | 715,402 | ||||||||||
2,689,512 | ||||||||||||
ELECTRICAL EQUIPMENT — 1.5% | ||||||||||||
AZZ, Inc. | 2,300 | 92,023 | ||||||||||
Belden CDT, Inc. | 13,900 | 511,798 | ||||||||||
Brady Corp. (Class A) | 28,804 | 939,298 | ||||||||||
Encore Wire Corp. | 10,511 | 263,616 | ||||||||||
Powell Industries, Inc. (a) | 4,900 | 161,112 | ||||||||||
1,967,847 | ||||||||||||
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS — 4.8% | ||||||||||||
Agilysys, Inc. (a)(b) | 10,800 | 60,804 | ||||||||||
Anixter International, Inc. | 15,400 | 919,842 | ||||||||||
Benchmark Electronics, Inc. (a) | 33,507 | 608,487 | ||||||||||
Brightpoint, Inc. (a) | 37,100 | 323,883 | ||||||||||
Checkpoint Systems, Inc. (a) | 21,772 | 447,415 | ||||||||||
Cognex Corp. | 9,700 | 285,374 | ||||||||||
CTS Corp. | 18,836 | 208,326 | ||||||||||
Daktronics, Inc. | 11,000 | 175,120 | ||||||||||
Electro Scientific Industries, Inc. (a) | 8,500 | 136,255 | ||||||||||
FARO Technologies, Inc. (a) | 4,400 | 144,496 | ||||||||||
Gerber Scientific, Inc. (a) | 13,800 | 108,606 | ||||||||||
Insight Enterprises, Inc. (a) | 25,400 | 334,264 | ||||||||||
LoJack Corp. (a) | 6,400 | 41,344 | ||||||||||
Methode Electronics, Inc. (Class A) | 20,230 | 262,383 | ||||||||||
MTS Systems Corp. | 4,319 | 161,790 | ||||||||||
Newport Corp. (a) | 9,300 | 161,541 | ||||||||||
Park Electrochemical Corp. | 7,386 | 221,580 | ||||||||||
Plexus Corp. (a) | 9,300 | 287,742 | ||||||||||
Pulse Electronics Corp. | 15,253 | 81,146 | ||||||||||
RadiSys Corp. (a) | 7,700 | 68,530 | ||||||||||
Rofin-Sinar Technologies, Inc. (a) | 9,491 | 336,361 | ||||||||||
Rogers Corp. (a) | 5,600 | 214,200 | ||||||||||
Scansource, Inc. (a) | 14,621 | 466,410 | ||||||||||
SYNNEX Corp. (a) | 12,910 | 402,792 | ||||||||||
6,458,691 | ||||||||||||
ENERGY EQUIPMENT & SERVICES — 2.8% | ||||||||||||
Basic Energy Services, Inc. (a)(b) | 7,700 | 126,896 | ||||||||||
Bristow Group, Inc. (a) | 19,846 | 939,708 | ||||||||||
Gulf Island Fabrication, Inc. | 7,871 | 221,805 | ||||||||||
Hornbeck Offshore Services, Inc. (a) | 12,787 | 266,992 | ||||||||||
ION Geophysical Corp. (a) | 42,800 | 362,944 | ||||||||||
Lufkin Industries, Inc. | 7,400 | 461,686 | ||||||||||
Matrix Service Co. (a) | 14,500 | 176,610 | ||||||||||
Pioneer Drilling Co. (a)(b) | 29,800 | 262,538 | ||||||||||
SEACOR Holdings, Inc. | 3,801 | 384,243 | ||||||||||
Seahawk Drilling, Inc. (a)(b) | 6,600 | 59,070 |
See accompanying notes to financial statements.
60
Table of Contents
SPDR S&P 600 Small Cap Value ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Tetra Technologies, Inc. (a) | 41,900 | $ | 497,353 | |||||||||
3,759,845 | ||||||||||||
FOOD & STAPLES RETAILING — 1.4% | ||||||||||||
Casey’s General Stores, Inc. | 20,713 | 880,510 | ||||||||||
Nash Finch Co. (b) | 6,676 | 283,797 | ||||||||||
Spartan Stores, Inc. | 12,437 | 210,807 | ||||||||||
The Andersons, Inc. (b) | 4,695 | 170,663 | ||||||||||
United Natural Foods, Inc. (a) | 10,600 | 388,808 | ||||||||||
1,934,585 | ||||||||||||
FOOD PRODUCTS — 1.3% | ||||||||||||
Cal-Maine Foods, Inc. | 2,680 | 84,635 | ||||||||||
Diamond Foods, Inc. | 4,800 | 255,264 | ||||||||||
Hain Celestial Group, Inc. (a)(b) | 14,337 | 387,959 | ||||||||||
J&J Snack Foods Corp. | 3,200 | 154,368 | ||||||||||
Sanderson Farms, Inc. (b) | 10,580 | 414,207 | ||||||||||
Seneca Foods Corp. (a)(b) | 4,985 | 134,495 | ||||||||||
Snyders-Lance, Inc. | 12,300 | 288,312 | ||||||||||
1,719,240 | ||||||||||||
GAS UTILITIES — 3.0% | ||||||||||||
Laclede Group, Inc. | 12,243 | 447,359 | ||||||||||
New Jersey Resources Corp. (b) | 22,637 | 975,881 | ||||||||||
Northwest Natural Gas Co. | 9,305 | 432,404 | ||||||||||
Piedmont Natural Gas Co., Inc. | 25,369 | 709,317 | ||||||||||
South Jersey Industries, Inc. | 9,313 | 491,913 | ||||||||||
Southwest Gas Corp. | 24,893 | 912,826 | ||||||||||
3,969,700 | ||||||||||||
HEALTH CARE EQUIPMENT & SUPPLIES — 1.9% | ||||||||||||
Analogic Corp. | 2,894 | 143,282 | ||||||||||
Cantel Medical Corp. | 2,200 | 51,480 | ||||||||||
CONMED Corp. (a) | 15,432 | 407,868 | ||||||||||
CryoLife, Inc. (a) | 9,300 | 50,406 | ||||||||||
Greatbatch, Inc. (a)(b) | 5,500 | 132,825 | ||||||||||
ICU Medical, Inc. (a) | 3,300 | 120,450 | ||||||||||
Invacare Corp. | 17,665 | 532,776 | ||||||||||
Meridian Bioscience, Inc. | 9,400 | 217,704 | ||||||||||
Merit Medical Systems, Inc. (a) | 6,400 | 101,312 | ||||||||||
Natus Medical, Inc. (a) | 6,700 | 95,006 | ||||||||||
Palomar Medical Technologies, Inc. (a) | 7,300 | 103,733 | ||||||||||
SurModics, Inc. (a) | 4,300 | 51,041 | ||||||||||
Symmetry Medical, Inc. (a) | 19,800 | 183,150 | ||||||||||
West Pharmaceutical Services, Inc. | 10,400 | 428,480 | ||||||||||
2,619,513 | ||||||||||||
HEALTH CARE PROVIDERS & SERVICES — 3.7% | ||||||||||||
Amedisys, Inc. (a) | 15,800 | 529,300 | ||||||||||
AMERIGROUP Corp. (a) | 10,600 | 465,552 | ||||||||||
AMN Healthcare Services, Inc. (a) | 21,500 | 132,010 | ||||||||||
AmSurg Corp. (a) | 17,000 | 356,150 | ||||||||||
Centene Corp. (a) | 27,100 | 686,714 | ||||||||||
Cross Country Healthcare, Inc. (a) | 17,154 | 145,294 | ||||||||||
Gentiva Health Services, Inc. (a) | 16,410 | 436,506 | ||||||||||
Hanger Orthopedic Group, Inc. (a) | 17,827 | 377,754 | ||||||||||
Healthways, Inc. (a) | 18,900 | 210,924 | ||||||||||
LCA-Vision, Inc. (a) | 6,600 | 37,950 | ||||||||||
LHC Group, Inc. (a)(b) | 2,900 | 87,000 | ||||||||||
Magellan Health Services, Inc. (a) | 6,449 | 304,909 | ||||||||||
Medcath Corp. (a) | 11,291 | 157,510 | ||||||||||
Molina Healthcare, Inc. (a) | 9,325 | 259,701 | ||||||||||
PharMerica Corp. (a) | 16,100 | 184,345 | ||||||||||
PSS World Medical, Inc. (a)(b) | 14,000 | 316,400 | ||||||||||
RehabCare Group, Inc. (a) | 13,731 | 325,425 | ||||||||||
5,013,444 | ||||||||||||
HEALTH CARE TECHNOLOGY — 0.1% | ||||||||||||
Omnicell, Inc. (a) | 9,100 | 131,495 | ||||||||||
HOTELS, RESTAURANTS & LEISURE — 1.8% | ||||||||||||
Jack in the Box, Inc. (a) | 29,058 | 613,995 | ||||||||||
Marcus Corp. | 11,844 | 157,170 | ||||||||||
Monarch Casino & Resort, Inc. (a) | 4,000 | 50,000 | ||||||||||
Multimedia Games, Inc. (a) | 15,200 | 84,816 | ||||||||||
O’Charleys, Inc. (a)(b) | 10,400 | 74,880 | ||||||||||
Papa John’s International, Inc. (a) | 5,000 | 138,500 | ||||||||||
Pinnacle Entertainment, Inc. (a)(b) | 18,900 | 264,978 | ||||||||||
Red Robin Gourmet Burgers, Inc. (a)(b) | 8,600 | 184,642 | ||||||||||
Ruby Tuesday, Inc. (a) | 35,648 | 465,563 | ||||||||||
Ruth’s Hospitality Group, Inc. (a)(b) | 17,000 | 78,710 | ||||||||||
Shuffle Master, Inc. (a) | 13,300 | 152,285 | ||||||||||
Sonic Corp. (a) | 21,000 | 212,520 | ||||||||||
2,478,059 | ||||||||||||
HOUSEHOLD DURABLES — 1.5% | ||||||||||||
Blyth, Inc. | 2,999 | 103,406 | ||||||||||
Ethan Allen Interiors, Inc. | 15,800 | 316,158 | ||||||||||
Helen of Troy, Ltd. (a) | 16,694 | 496,480 | ||||||||||
La-Z-Boy, Inc. (a)(b) | 28,567 | 257,674 | ||||||||||
M/I Homes, Inc. (a)(b) | 10,171 | 156,430 | ||||||||||
Meritage Homes Corp. (a)(b) | 17,662 | 392,096 | ||||||||||
Skyline Corp. (b) | 2,561 | 66,791 | ||||||||||
Standard Pacific Corp. (a)(b) | 54,612 | 251,215 | ||||||||||
2,040,250 | ||||||||||||
HOUSEHOLD PRODUCTS — 0.3% | ||||||||||||
Central Garden & Pet Co. (Class A) (a) | 30,187 | 298,248 | ||||||||||
WD-40 Co. | 4,255 | 171,391 | ||||||||||
469,639 | ||||||||||||
INDUSTRIAL CONGLOMERATES — 0.3% | ||||||||||||
Standex International Corp. | 6,941 | 207,605 | ||||||||||
Tredegar Corp. | 12,617 | 244,518 | ||||||||||
452,123 | ||||||||||||
INSURANCE — 4.4% | ||||||||||||
AMERISAFE, Inc. (a) | 10,149 | 177,607 | ||||||||||
Delphi Financial Group | 29,722 | 857,182 | ||||||||||
Employers Holdings, Inc. | 21,872 | 382,323 | ||||||||||
Horace Mann Educators Corp. | 21,702 | 391,504 | ||||||||||
Infinity Property & Casualty Corp. | 6,811 | 420,920 | ||||||||||
National Financial Partners Corp. (a) | 12,924 | 173,182 | ||||||||||
Presidential Life Corp. | 11,757 | 116,747 | ||||||||||
ProAssurance Corp. (a) | 16,813 | 1,018,868 | ||||||||||
RLI Corp. | 9,053 | 475,916 | ||||||||||
Safety Insurance Group, Inc. | 8,193 | 389,741 | ||||||||||
Selective Insurance Group, Inc. | 29,177 | 529,563 |
See accompanying notes to financial statements.
61
Table of Contents
SPDR S&P 600 Small Cap Value ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
Stewart Information Services Corp. | 10,084 | $ | 116,268 | |||||||||
The Navigators Group, Inc. (a) | 6,818 | 343,286 | ||||||||||
Tower Group, Inc. | 9,600 | 245,568 | ||||||||||
United Fire & Casualty Co. | 11,659 | 260,229 | ||||||||||
5,898,904 | ||||||||||||
INTERNET & CATALOG RETAIL — 0.1% | ||||||||||||
NutriSystem, Inc. (b) | 7,500 | 157,725 | ||||||||||
INTERNET SOFTWARE & SERVICES — 0.7% | ||||||||||||
DealerTrack Holdings, Inc. (a) | 8,700 | 174,609 | ||||||||||
InfoSpace, Inc. (a) | 19,833 | 164,614 | ||||||||||
LogMeIn, Inc. (a)(b) | 4,100 | 181,794 | ||||||||||
The Knot, Inc. (a) | 9,400 | 92,872 | ||||||||||
United Online, Inc. | 47,268 | 311,969 | ||||||||||
925,858 | ||||||||||||
IT SERVICES — 1.2% | ||||||||||||
CACI International, Inc. (Class A) (a) | 16,651 | 889,164 | ||||||||||
CIBER, Inc. (a) | 38,346 | 179,459 | ||||||||||
Heartland Payment Systems, Inc. | 21,000 | 323,820 | ||||||||||
Integral Systems Inc. (a) | 5,200 | 51,532 | ||||||||||
NCI, Inc. (Class A) (a) | 1,700 | 39,083 | ||||||||||
StarTek, Inc. (a)(b) | 6,600 | 33,462 | ||||||||||
TeleTech Holdings, Inc. (a) | 5,400 | 111,186 | ||||||||||
1,627,706 | ||||||||||||
LEISURE EQUIPMENT & PRODUCTS — 1.3% | ||||||||||||
Arctic Cat, Inc. (a) | 6,700 | 98,088 | ||||||||||
Brunswick Corp. | 24,400 | 457,256 | ||||||||||
Callaway Golf Co. | 35,369 | 285,428 | ||||||||||
JAKKS Pacific, Inc. (a) | 9,461 | 172,379 | ||||||||||
Pool Corp. | 27,158 | 612,141 | ||||||||||
RC2 Corp. (a) | 7,109 | 154,763 | ||||||||||
1,780,055 | ||||||||||||
LIFE SCIENCES TOOLS & SERVICES — 0.3% | ||||||||||||
Affymetrix, Inc. (a)(b) | 38,800 | 195,164 | ||||||||||
Cambrex Corp. (a) | 16,200 | 83,754 | ||||||||||
eResearch Technology, Inc. (a)(b) | 12,600 | 92,610 | ||||||||||
Kendle International, Inc. (a) | 8,200 | 89,298 | ||||||||||
460,826 | ||||||||||||
MACHINERY — 5.4% | ||||||||||||
Actuant Corp. (Class A) (b) | 37,300 | 992,926 | ||||||||||
Albany International Corp. (Class A) (b) | 15,202 | 360,135 | ||||||||||
Astec Industries, Inc. (a) | 10,900 | 353,269 | ||||||||||
Badger Meter, Inc. | 3,700 | 163,614 | ||||||||||
Barnes Group, Inc. (b) | 24,984 | 516,419 | ||||||||||
Briggs & Stratton Corp. (b) | 27,633 | 544,094 | ||||||||||
Cascade Corp. | 3,317 | 156,828 | ||||||||||
CIRCOR International, Inc. | 5,000 | 211,400 | ||||||||||
CLARCOR, Inc. | 14,400 | 617,616 | ||||||||||
ESCO Technologies, Inc. | 8,100 | 306,504 | ||||||||||
Federal Signal Corp. | 34,254 | 234,982 | ||||||||||
John Bean Technologies Corp. | 6,800 | 136,884 | ||||||||||
Kaydon Corp. | 11,959 | 486,971 | ||||||||||
Lydall, Inc. (a)(b) | 9,400 | 75,670 | ||||||||||
Mueller Industries, Inc. | 20,774 | 679,310 | ||||||||||
Robbins & Myers, Inc. | 10,835 | 387,676 | ||||||||||
The Toro Co. | 7,354 | 453,301 | ||||||||||
Watts Water Technologies, Inc. (b) | 15,932 | 582,952 | ||||||||||
7,260,551 | ||||||||||||
MEDIA — 0.8% | ||||||||||||
Live Nation, Inc. (a)(b) | 81,700 | 933,014 | ||||||||||
The E.W. Scripps Co. (Class A) (a)(b) | 10,343 | 104,981 | ||||||||||
1,037,995 | ||||||||||||
METALS & MINING — 1.3% | ||||||||||||
A.M. Castle & Co. (a) | 9,200 | 169,372 | ||||||||||
AMCOL International Corp. (b) | 7,150 | 221,650 | ||||||||||
Brush Engineered Materials, Inc. (a) | 3,900 | 150,696 | ||||||||||
Century Aluminum Co. (a)(b) | 19,638 | 304,978 | ||||||||||
Kaiser Aluminum Corp. (b) | 8,099 | 405,679 | ||||||||||
Olympic Steel, Inc. (b) | 5,056 | 145,006 | ||||||||||
RTI International Metals, Inc. (a) | 10,600 | 285,988 | ||||||||||
1,683,369 | ||||||||||||
MULTI-UTILITIES — 1.3% | ||||||||||||
Avista Corp. | 30,953 | 697,062 | ||||||||||
CH Energy Group, Inc. (b) | 8,678 | 424,267 | ||||||||||
NorthWestern Corp. | 19,896 | 573,602 | ||||||||||
1,694,931 | ||||||||||||
MULTILINE RETAIL — 0.3% | ||||||||||||
Fred’s, Inc. (Class A) | 21,520 | 296,115 | ||||||||||
Tuesday Morning Corp. (a) | 20,100 | 106,128 | ||||||||||
402,243 | ||||||||||||
OIL, GAS & CONSUMABLE FUELS — 3.0% | ||||||||||||
Holly Corp. | 24,193 | 986,349 | ||||||||||
Penn Virginia Corp. (b) | 25,000 | 420,500 | ||||||||||
Petroleum Development Corp. (a) | 8,500 | 358,785 | ||||||||||
Petroquest Energy, Inc. (a) | 17,400 | 131,022 | ||||||||||
Stone Energy Corp. (a) | 11,452 | 255,265 | ||||||||||
Swift Energy Co. (a) | 14,600 | 571,590 | ||||||||||
World Fuel Services Corp. | 37,800 | 1,366,848 | ||||||||||
4,090,359 | ||||||||||||
PAPER & FOREST PRODUCTS — 0.8% | ||||||||||||
Clearwater Paper Corp. (a) | 6,300 | 493,290 | ||||||||||
Deltic Timber Corp. (b) | 3,300 | 185,922 | ||||||||||
Neenah Paper, Inc. | 8,127 | 159,939 | ||||||||||
Wausau Paper Corp. | 26,942 | 231,971 | ||||||||||
1,071,122 | ||||||||||||
PROFESSIONAL SERVICES — 1.3% | ||||||||||||
Administaff, Inc. | 6,100 | 178,730 | ||||||||||
CDI Corp. | 7,159 | 133,086 | ||||||||||
Heidrick & Struggles International, Inc. | 9,619 | 275,584 | ||||||||||
Kelly Services, Inc. (Class A) (a) | 15,521 | 291,795 | ||||||||||
On Assignment, Inc. (a) | 20,100 | 163,815 | ||||||||||
School Specialty, Inc. (a)(b) | 8,812 | 122,751 | ||||||||||
SFN Group, Inc. (a) | 29,100 | 284,016 | ||||||||||
TrueBlue, Inc. (a) | 14,100 | 253,659 | ||||||||||
Volt Information Sciences, Inc. (a) | 6,511 | 56,320 | ||||||||||
1,759,756 | ||||||||||||
See accompanying notes to financial statements.
62
Table of Contents
SPDR S&P 600 Small Cap Value ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
REAL ESTATE INVESTMENT TRUSTS — 7.7% | ||||||||||||
Acadia Realty Trust | 9,049 | $ | 165,054 | |||||||||
BioMed Realty Trust, Inc. | 38,132 | 711,162 | ||||||||||
Cedar Shopping Centers, Inc. | 25,856 | 162,634 | ||||||||||
Colonial Properties Trust | 27,673 | 499,498 | ||||||||||
Cousins Properties, Inc. | 204 | 1,701 | ||||||||||
DiamondRock Hospitality Co. (a) | 46,792 | 561,504 | ||||||||||
EastGroup Properties, Inc. | 6,340 | 268,309 | ||||||||||
Entertainment Properties Trust | 12,989 | 600,741 | ||||||||||
Extra Space Storage, Inc. | 23,100 | 401,940 | ||||||||||
Franklin Street Properties Corp. | 38,171 | 543,937 | ||||||||||
Healthcare Realty Trust, Inc. | 22,695 | 480,453 | ||||||||||
Home Properties, Inc. | 8,672 | 481,209 | ||||||||||
Inland Real Estate Corp. | 27,952 | 245,978 | ||||||||||
Kilroy Realty Corp. (b) | 16,405 | 598,290 | ||||||||||
Kite Realty Group Trust | 34,829 | 188,425 | ||||||||||
LaSalle Hotel Properties | 25,300 | 667,920 | ||||||||||
Lexington Realty Trust (b) | 41,593 | 330,664 | ||||||||||
LTC Properties, Inc. | 7,240 | 203,299 | ||||||||||
Medical Properties Trust, Inc. | 23,274 | 252,057 | ||||||||||
Mid-America Apartment Communities, Inc. | 7,700 | 488,873 | ||||||||||
National Retail Properties, Inc. | 17,877 | 473,741 | ||||||||||
Parkway Properties, Inc. | 12,058 | 211,256 | ||||||||||
Pennsylvania Real Estate Investment Trust | 15,788 | 229,400 | ||||||||||
Post Properties, Inc. | 14,593 | 529,726 | ||||||||||
PS Business Parks, Inc. | 5,014 | 279,380 | ||||||||||
Saul Centers, Inc. | 2,523 | 119,464 | ||||||||||
Sovran Self Storage, Inc. | 9,281 | 341,634 | ||||||||||
Universal Health Realty Income Trust | 3,784 | 138,230 | ||||||||||
Urstadt Biddle Properties (Class A) | 6,263 | 121,815 | ||||||||||
10,298,294 | ||||||||||||
REAL ESTATE MANAGEMENT & DEVELOPMENT — 0.1% | ||||||||||||
Forestar Real Estate Group, Inc. (a) | 7,636 | 147,375 | ||||||||||
ROAD & RAIL — 1.0% | ||||||||||||
Arkansas Best Corp. (b) | 13,894 | 380,973 | ||||||||||
Heartland Express, Inc. (b) | 15,900 | 254,718 | ||||||||||
Knight Transportation, Inc. (b) | 17,400 | 330,600 | ||||||||||
Old Dominion Freight Line, Inc. (a) | 11,100 | 355,089 | ||||||||||
1,321,380 | ||||||||||||
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT — 3.4% | ||||||||||||
Advanced Energy Industries, Inc. (a) | 13,600 | 185,504 | ||||||||||
ATMI, Inc. (a) | 11,000 | 219,340 | ||||||||||
Brooks Automation, Inc. (a) | 35,907 | 325,676 | ||||||||||
Cabot Microelectronics Corp. (a) | 4,100 | 169,945 | ||||||||||
Cohu, Inc. | 9,015 | 149,469 | ||||||||||
Cymer, Inc. (a) | 9,570 | 431,320 | ||||||||||
DSP Group, Inc. (a) | 12,852 | 104,615 | ||||||||||
Exar Corp. (a) | 10,200 | 71,196 | ||||||||||
FEI Co. (a) | 12,200 | 322,202 | ||||||||||
Microsemi Corp. (a) | 23,400 | 535,860 | ||||||||||
MKS Instruments, Inc. (a) | 17,281 | 423,212 | ||||||||||
Pericom Semiconductor Corp. (a) | 5,800 | 63,684 | ||||||||||
Rudolph Technologies, Inc. (a) | 10,200 | 83,946 | ||||||||||
Sigma Designs, Inc. (a)(b) | 5,200 | 73,684 | ||||||||||
Standard Microsystems Corp. (a) | 7,200 | 207,576 | ||||||||||
Supertex, Inc. (a) | 4,500 | 108,810 | ||||||||||
Tessera Technologies, Inc. (a) | 11,400 | 252,510 | ||||||||||
Ultratech, Inc. (a) | 7,000 | 139,160 | ||||||||||
Varian Semiconductor Equipment Associates, Inc. (a) | 20,300 | 750,491 | ||||||||||
4,618,200 | ||||||||||||
SOFTWARE — 0.7% | ||||||||||||
Epicor Software Corp. (a) | 9,871 | 99,697 | ||||||||||
EPIQ Systems, Inc. (b) | 18,000 | 247,140 | ||||||||||
Take-Two Interactive Software, Inc. (a)(b) | 25,702 | 314,593 | ||||||||||
THQ, Inc. (a)(b) | 37,400 | 226,644 | ||||||||||
888,074 | ||||||||||||
SPECIALTY RETAIL — 3.8% | ||||||||||||
Big 5 Sporting Goods Corp. | 5,652 | 86,306 | ||||||||||
Brown Shoe Co., Inc. (b) | 24,155 | 336,479 | ||||||||||
Christopher & Banks Corp. | 19,760 | 121,524 | ||||||||||
Coldwater Creek, Inc. (a) | 33,000 | 104,610 | ||||||||||
Genesco, Inc. (a) | 5,674 | 212,718 | ||||||||||
Group 1 Automotive, Inc. | 13,024 | 543,882 | ||||||||||
Haverty Furniture Cos., Inc. | 10,194 | 132,318 | ||||||||||
Hot Topic, Inc. (b) | 24,558 | 153,979 | ||||||||||
Lithia Motors, Inc. (Class A) | 11,900 | 170,051 | ||||||||||
MarineMax, Inc. (a) | 12,131 | 113,425 | ||||||||||
Midas, Inc. (a)(b) | 7,800 | 63,258 | ||||||||||
OfficeMax, Inc. (a) | 46,740 | 827,298 | ||||||||||
Sonic Automotive, Inc. (Class A) (b) | 19,382 | 256,618 | ||||||||||
Stage Stores, Inc. | 20,120 | 348,881 | ||||||||||
Stein Mart, Inc. | 14,785 | 136,761 | ||||||||||
The Cato Corp. (Class A) | 6,132 | 168,078 | ||||||||||
The Children’s Place Retail Stores, Inc. (a) | 7,678 | 381,136 | ||||||||||
The Finish Line, Inc. (Class A) | 9,367 | 161,019 | ||||||||||
The Men’s Wearhouse, Inc. (b) | 13,067 | 326,414 | ||||||||||
The Pep Boys — Manny, Moe & Jack | 28,915 | 388,328 | ||||||||||
Zale Corp. (a) | 12,700 | 54,102 | ||||||||||
5,087,185 | ||||||||||||
TEXTILES, APPAREL & LUXURY GOODS — 1.4% | ||||||||||||
K-Swiss, Inc. (Class A) (a)(b) | 14,900 | 185,803 | ||||||||||
Liz Claiborne, Inc. (a)(b) | 34,857 | 249,576 | ||||||||||
Movado Group, Inc. (a)(b) | 9,552 | 154,169 | ||||||||||
Oxford Industries, Inc. (b) | 3,555 | 91,044 | ||||||||||
Perry Ellis International, Inc. (a) | 2,467 | 67,768 | ||||||||||
Quiksilver, Inc. (a) | 71,200 | 360,984 | ||||||||||
Skechers USA, Inc. (a)(b) | 18,590 | 371,800 | ||||||||||
Wolverine World Wide, Inc. | 11,542 | 367,959 | ||||||||||
1,849,103 | ||||||||||||
THRIFTS & MORTGAGE FINANCE — 0.9% | ||||||||||||
Bank Mutual Corp. | 25,139 | 120,165 | ||||||||||
Brookline Bancorp, Inc. | 32,533 | 352,983 | ||||||||||
Dime Community Bancshares | 8,482 | 123,752 | ||||||||||
Provident Financial Services, Inc. (b) | 19,080 | 288,680 |
See accompanying notes to financial statements.
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SPDR S&P 600 Small Cap Value ETF
SCHEDULE OF INVESTMENTS (continued)
SCHEDULE OF INVESTMENTS (continued)
December 31, 2010 (Unaudited)
Security Description | Shares | Value | ||||||||||
TrustCo Bank Corp. NY | 42,437 | $ | 269,051 | |||||||||
1,154,631 | ||||||||||||
TOBACCO — 0.1% | ||||||||||||
Alliance One International, Inc. (a)(b) | 47,845 | 202,863 | ||||||||||
TRADING COMPANIES & DISTRIBUTORS — 0.9% | ||||||||||||
Applied Industrial Technologies, Inc. | 20,769 | 674,577 | ||||||||||
Kaman Corp. (Class A) | 14,305 | 415,847 | ||||||||||
Lawson Products, Inc. | 2,207 | 54,932 | ||||||||||
1,145,356 | ||||||||||||
WATER UTILITIES — 0.1% | ||||||||||||
American States Water Co. | 4,753 | 163,836 | ||||||||||
WIRELESS TELECOMMUNICATION SERVICES — 0.2% | ||||||||||||
NTELOS Holdings Corp. | 7,329 | 139,617 | ||||||||||
USA Mobility, Inc. | 7,432 | 132,067 | ||||||||||
271,684 | ||||||||||||
TOTAL COMMON STOCKS — | ||||||||||||
(Cost $135,673,471) | 134,210,248 | |||||||||||
CORPORATE BONDS & NOTES — 0.0% | ||||||||||||
CAPITAL MARKETS — 0.0% | ||||||||||||
GAMCO Investors, Inc. Zero Coupon, 12/31/2015 (c) (Cost $2,339) | 23 | 0 | ||||||||||
SHORT TERM INVESTMENTS — 9.7% | ||||||||||||
MONEY MARKET FUNDS — 9.7% | ||||||||||||
State Street Navigator Securities Lending Prime Portfolio (d)(e) | 12,885,505 | 12,885,505 | ||||||||||
State Street Institutional Liquid Reserves Fund (e)(f) | 188,824 | 188,824 | ||||||||||
TOTAL SHORT TERM INVESTMENTS — | ||||||||||||
(Cost $13,074,329) | 13,074,329 | |||||||||||
TOTAL INVESTMENTS — 109.5% (g) | ||||||||||||
(Cost $148,750,139) | 147,284,577 | |||||||||||
OTHER ASSETS & LIABILITIES — (9.5)% | (12,832,556 | ) | ||||||||||
NET ASSETS — 100.0% | $ | 134,452,021 | ||||||||||
(a) | Non-income producing security. | |||||
(b) | Security, or portion thereof, was on loan at December 31, 2010. | |||||
(c) | Security is valued at fair value as determined in good faith by the Trust’s Pricing and Investment Committee in accordance with procedures approved by the Board of Trustees. Security value is based on Level 2 inputs. (Note 2) | |||||
(d) | Investments of cash collateral for securities loaned. | |||||
(e) | Affiliated Fund managed by SSgA Funds Management, Inc. (Note 3) | |||||
(f) | The rate shown is the annualized seven-day yield at period end. | |||||
(g) | Unless otherwise indicated, the values of the securities of the Fund are determined based on Level 1 inputs. (Note 2) |
See accompanying notes to financial statements.
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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
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, James E. Ross, the registrant’s President, and Chad C. Hallett, the registrant’s Principal Financial Officer, reviewed the Registrant’s disclosure controls and procedures and evaluated their effectiveness. Based on the review, Messrs. Ross and 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 Securities and Exchange Commission.
(b) In the Registrant’s second fiscal quarter covered by this form N-CSR filing, there were no significant changes in the Registrant’s internal controls or in other factors that have materially affected, or are reasonably likely to materially affect, its controls over financial reporting subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
Item 12. Exhibits
(a)(1) Not applicable to the Registrant; this Form N-CSR is a Semi-Annual Report.
(2) Certifications of principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act are attached hereto.
(3) Not applicable
(b) Certifications of principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
SPDR® SERIES TRUST
By: | /s/ James E. Ross | |||
President and Principal Executive Officer | ||||
Date: | March 7, 2011 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, 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/ James E. Ross | |||
President and Principal Executive Officer | ||||
Date: | March 7, 2011 | |||
By: | /s/ Chad C. Hallett | |||
Treasurer and Principal Financial Officer | ||||
Date: | March 7, 2011 |